Boston Scientific (BSX) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Cover Document

Cover Document - $ / shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	1-11083
Entity Registrant Name	BOSTON SCIENTIFIC CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2695240
Entity Address, Address Line One	300 Boston Scientific Way
Entity Address, City or Town	Marlborough
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01752-1234
City Area Code	508
Local Phone Number	683-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Listing, Par Value Per Share	$ 0.01
Entity Common Stock, Shares Outstanding		1,437,698,101
Entity Central Index Key	0000885725
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BSX
Security Exchange Name	NYSE
Senior Note due 2027 [Member]
Entity Information [Line Items]
Title of 12(b) Security	0.625% Senior Notes due 2027
Trading Symbol	BSX27
Security Exchange Name	NYSE
5.50% MCPS, Series A [Member]
Entity Information [Line Items]
Title of 12(b) Security	5.50% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share
Trading Symbol	BSX PR A
Security Exchange Name	NYSE

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net sales	$ 3,389	$ 3,026
Cost of products sold	1,040	955
Gross profit	2,349	2,071
Operating expenses:
Selling, general and administrative expenses	1,215	1,060
Research and development expenses	337	319
Royalty expense	11	12
Amortization expense	203	198
Contingent consideration net expense (benefit)	12	12
Restructuring net charges (credits)	20	4
Operating expenses	1,797	1,605
Operating income (loss)	552	466
Other income (expense):
Interest expense	(65)	(279)
Other, net	(43)	(31)
Income (loss) before income taxes	444	156
Income tax expense (benefit)	131	45
Net income (loss)	314	110
Preferred stock dividends	(14)	(14)
Net income (loss) attributable to noncontrolling interests	0	0
Net income (loss) attributable to Boston Scientific common stockholders	$ 300	$ 97
Net income (loss) per common share — basic	$ 0.21	$ 0.07
Net income (loss) per common share — diluted	$ 0.21	$ 0.07
Weighted-average shares outstanding
Basic	1,435.8	1,427.8
Diluted	1,446	1,438.4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income (loss)	$ 314	$ 110
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(42)	(64)
Net change in derivative financial instruments	(43)	23
Net change in defined benefit pensions and other items	(5)	0
Other comprehensive income (loss)	(91)	(41)
Comprehensive income (loss)	223	69
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Noncontrolling Interest	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 223	$ 69

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 570	$ 928
Trade accounts receivable, net	2,076	1,970
Inventories	2,050	1,867
Prepaid income taxes	296	264
Other current assets	711	731
Total current assets	5,704	5,760
Property, plant and equipment, net	2,478	2,446
Goodwill	13,269	12,920
Other intangible assets, net	6,060	5,902
Deferred tax assets	3,900	3,942
Other long-term assets	1,482	1,500
TOTAL ASSETS	32,892	32,469
Current liabilities:
Current debt obligations	510	20
Accounts payable	868	862
Accrued expenses	1,918	2,160
Other current liabilities	787	761
Total current liabilities	4,083	3,803
Long-term debt	8,495	8,915
Deferred income taxes	210	144
Other long-term liabilities	1,995	2,035
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value - authorized 50,000,000 shares - issued 10,062,500 shares as of March 31, 2023 and December 31, 2022	0	0
Common stock, $0.01 par value - authorized 2,000,000,000 shares - issued 1,700,828,873 shares as of March 31, 2023 and 1,696,633,993 shares as of December 31, 2022	17	17
Treasury stock, at cost - 263,289,848 shares as of March 31, 2023 and December 31, 2022	(2,251)	(2,251)
Additional paid-in capital	20,356	20,289
Accumulated deficit	(450)	(750)
Accumulated other comprehensive income (loss), net of tax	178	269
Total stockholders’ equity	17,850	17,573
Noncontrolling interests	259	0
Total equity	18,109	17,573
TOTAL LIABILITIES AND EQUITY	$ 32,892	$ 32,469

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Condensed Consolidated Balance Sheet (Parenthetical) [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	10,062,500	10,062,500
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	2,000,000,000	2,000,000,000
Common Stock, Shares, Issued	1,700,828,873	1,696,633,993
Treasury Stock, Common, Shares	263,289,848	263,289,848

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Preferred Stock	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest	Treasury Stock, Common
Shares, Issued at Dec. 31, 2021		10,062,500	1,688,810,052
Total stockholders' equity at Dec. 31, 2021		$ 0	$ 17	$ 19,986	$ (1,392)	$ 263	$ 0	$ (2,251)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to noncontrolling interests	$ 0						0
Noncontrolling Interest, Period Increase (Decrease)							0
Stock issuance (Par value)		$ 0	$ 0
Stock-based compensation (Shares)			4,018,935
Treasury Stock, Value, Acquired, Cost Method								0
Stock-based compensation			$ 0	57
Ending Balance (Shares Issued) at Mar. 31, 2022		10,062,500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues		0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Mar. 31, 2022	16,735	$ 0	$ 17	20,043	(1,296)	222	0	(2,251)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	110				110
Dividends, Preferred Stock, Cash					(14)
Total other comprehensive income (loss)	(41)					(41)	0
Total stockholders’ equity	$ 16,735
Common Stock, Shares, Issued	1,692,828,987
Total stockholders’ equity	$ 17,573
Common Stock, Shares, Issued	1,696,633,993
Shares, Issued at Dec. 31, 2022		10,062,500	1,696,633,993
Total stockholders' equity at Dec. 31, 2022	$ 17,573	$ 0	$ 17	20,289	(750)	269	0	(2,251)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to noncontrolling interests	0						0
Noncontrolling Interest, Period Increase (Decrease)							259
Stock issuance (Par value)		$ 0	$ 0
Stock-based compensation (Shares)			4,194,880
Treasury Stock, Value, Acquired, Cost Method								0
Stock-based compensation			$ 0	68
Ending Balance (Shares Issued) at Mar. 31, 2023		10,062,500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues		0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Mar. 31, 2023	18,109	$ 0	$ 17	$ 20,356	(450)	178	259	$ (2,251)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	314				314
Dividends, Preferred Stock, Cash					$ (14)
Total other comprehensive income (loss)	(91)					$ (91)	$ 0
Total stockholders’ equity	$ 17,850
Common Stock, Shares, Issued	1,700,828,873

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash provided by (used for) operating activities
Net income (loss)	$ 314	$ 110
Depreciation and amortization	285	274
Deferred and prepaid income taxes	19	(75)
Stock-based compensation expense	55	52
Net loss (gain) on investments and notes receivable	31	20
Contingent consideration net expense (benefit)	12	12
Inventory step-up amortization	0	17
Gain (Loss) on Extinguishment of Debt	0	194
Other, net	(2)	19
Trade accounts receivable	(86)	(66)
Inventories	(185)	(108)
Other assets	(41)	(140)
Accounts payable, accrued expenses and other liabilities	(211)	(368)
Cash provided by (used for) operating activities	190	(58)
Investing activities:
Purchases of property, plant and equipment and internal use software	(111)	(121)
Proceeds from sale of property, plant and equipment	3	8
Payments for acquisitions of businesses, net of cash acquired	(375)	(1,471)
Proceeds from royalty rights	9	19
Proceeds from (payments for) investments and acquisitions of certain technologies	(10)	(10)
Cash provided by (used for) investing activities	(484)	(1,574)
Financing activities:
Payment of contingent consideration previously established in purchase accounting	(34)	(20)
Payments for royalty rights	(34)	(39)
Payments on short-term borrowings	0	(250)
Net increase (decrease) in commercial paper	0	223
Payments on long-term borrowings and debt extinguishment costs	0	(3,184)
Proceeds from long-term borrowings, net of debt issuance costs	0	3,271
Cash dividends paid on preferred stock	(14)	(14)
Cash used to net share settle employee equity awards	(50)	(46)
Proceeds from issuances of common stock pursuant to employee stock compensation and purchase plans	63	52
Cash provided by (used for) financing activities	(69)	(6)
Effect of foreign exchange rates on cash	0	0
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	(363)	(1,639)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,126	2,168
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	763	529
Supplemental Information
Stock-based compensation expense	55	52
Non-cash impact of transferred royalty rights	$ (9)	$ (19)

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Supplemental Disclosure) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 570	$ 928	$ 325
Restricted cash and restricted cash equivalents included in Other current assets	135	149	146
Restricted cash equivalents included in Other long-term assets	57	48	59
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 763	$ 1,126	$ 529	$ 2,168

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE A – BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Boston Scientific Corporation have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and with the instructions to Form 10-Q and Article 10 of Regulation S-X, and they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. When used in this report, the terms, "we," "us," "our," and "the Company" mean Boston Scientific Corporation and its divisions and subsidiaries. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for fair presentation have been included. Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. Accordingly, our unaudited consolidated financial statements and footnotes thereto should be read in conjunction with our audited consolidated financial statements and footnotes thereto included in Item 8 of our most recent Annual Report on Form 10-K. The accompanying unaudited consolidated financial statements include the accounts of the Company's wholly owned- subsidiaries and entities for which the Company has a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. In the first quarter of 2023, we acquired a majority stake investment in Acotec Scientific Holdings Limited (Acotec) and have elected to consolidate their financial statements on a one quarter lag. Accordingly, their results of operations for the period following the closing of the transaction on February 20, 2023 are omitted from the Company’s unaudited consolidated statements of operations for the quarter ended March 31, 2023. Amounts reported in millions within this Quarterly Report on Form 10-Q are computed based on the amounts in thousands. As a result, the sum of the components may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying unrounded amounts. Subsequent Events We evaluate events occurring after the date of our accompanying unaudited consolidated balance sheet for potential recognition or disclosure in our financial statements. Those items requiring recognition in the financial statements have been recorded and disclosed accordingly. Those items requiring disclosure (non-recognized subsequent events) in the financial statements have been disclosed accordingly. Refer to Note B – Acquisitions, Divestitures and Strategic Investments, Note H – Commitments and Contingencies and Note I – Stockholders' Equity for further details.

Acquisitions, Divestitures and

Acquisitions, Divestitures and Strategic Investments	3 Months Ended
	Mar. 31, 2023
Business Combinations [Abstract]
ACQUISITIONS AND STRATEGIC INVESTMENTS	NOTE B – ACQUISITIONS, DIVESTITURES AND STRATEGIC INVESTMENTS Our accompanying unaudited consolidated financial statements include the operating results for acquired entities from the respective dates of acquisition. We have not presented supplemental pro forma financial information for completed acquisitions or divestitures given their results are not material to our accompanying unaudited consolidated financial statements. Further, transaction costs were immaterial to our accompanying unaudited consolidated financial statements and were expensed as incurred. 2023 Acquisitions On April 4, 2023, we completed our acquisition of 100 percent of the outstanding equity of Apollo Endosurgery, Inc. (Apollo), a public company which offers a portfolio of devices used during endoluminal procedures to close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss for patients suffering from obesity. The agreement consisted of an upfront cash payment of $10.00 per share, or approximately $615 million. The Apollo business is being integrated into our Endoscopy division. On February 20, 2023, we completed the acquisition of a majority stake investment in Acotec, a publicly traded Chinese manufacturer of drug-coated balloons used in the treatment of vascular and other diseases. We acquired approximately 65 percent of the outstanding shares of Acotec, for an upfront cash payment of HK$20.00 per share, or $519 million at foreign currency exchange rates at closing. The Acotec portfolio complements our existing Peripheral Interventions portfolio. Purchase Price Allocation We accounted for the Acotec transaction as a business combination in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, Business Combinations (FASB ASC Topic 805). The preliminary purchase price was comprised of the amount presented below: (in millions) Payment for majority interest acquisition, net of cash acquired (1) $ 375 $ 375 (1) Excludes approximately $140 million of cash on hand at the closing of the transaction. We recorded the assets acquired, liabilities assumed and the noncontrolling interest at their respective fair values as of the closing of the transaction. The preliminary purchase price allocation was comprised of the following components and the final determination of the fair value of certain assets and liabilities will be completed within the measurement period in accordance with FASB ASC Topic 805: (in millions) Goodwill $ 336 Amortizable intangible assets 334 Other assets acquired 61 Liabilities assumed (23) Net deferred tax liabilities (74) Fair value of noncontrolling interest $ (259) $ 375 The fair value of the noncontrolling interest was based on the publicly traded market value of the remaining 35 percent of the outstanding shares we did not acquire as of the transaction date and is presented within Stockholders' equity within our accompanying unaudited consolidated balance sheets. Goodwill was primarily established due to opportunities for collaboration in research and development, manufacturing and commercial strategies, and is not deductible for tax purposes. We allocated a portion of the purchase price to the specific intangible asset categories as follows: Amount Assigned (in millions) Weighted Average Amortization Period (in years) Risk-Adjusted Discount Amortizable intangible assets: Technology-related $ 308 11 14% Customer relationships 15 11 14% Other intangible assets 11 13 14% $ 334 2022 Acquisition On February 14, 2022, we completed our acquisition of Baylis Medical Company Inc. (Baylis Medical), a privately-held company which developed the radiofrequency (RF) NRG ™ and VersaCross ™ Transseptal Platforms as well as a family of guidewires, sheaths and dilators used to support left heart access, which expanded our electrophysiology and structural heart product portfolios. The transaction consisted of an upfront cash payment of $1.463 billion, net of cash acquired, subject to closing adjustments. We are integrating the Baylis Medical business into our Cardiology division. Purchase Price Allocation We accounted for the acquisition of Baylis Medical as a business combination in accordance with FASB ASC Topic 805, Business Combinations. The final purchase price was comprised of the amount presented below: (in millions) Payment for acquisition, net of cash acquired $ 1,463 $ 1,463 We recorded the assets acquired and liabilities assumed at their respective fair values as of the acquisition date. The final purchase price allocation was comprised of the following components: (in millions) Goodwill $ 988 Amortizable intangible assets 657 Other assets acquired 112 Liabilities assumed (287) Net deferred tax liabilities (7) $ 1,463 Goodwill was primarily established due to synergies expected to be gained from leveraging our existing operations, as well as revenue and cash flow projections associated with future technologies, and is deductible for tax purposes. We allocated a portion of the purchase price to the specific intangible asset categories as follows: Amount Assigned (in millions) Weighted Average Amortization Period (in years) Risk-Adjusted Discount Amortizable intangible assets: Technology-related $ 622 11 11% Other intangible assets 36 11 11% $ 657 Contingent Consideration None of our acquisitions that closed during the first quarters of 2023 or 2022 contained contingent consideration arrangements. Changes in the fair value of our contingent consideration liability during the first quarter of 2023 associated with prior period acquisitions were as follows: (in millions) Balance as of December 31, 2022 $ 149 Contingent consideration net expense (benefit) 12 Contingent consideration payments (68) Balance as of March 31, 2023 $ 93 The payments made during the first quarter of 2023 were primarily related to our 2021 acquisition of Farapulse, Inc. As of March 31, 2023, the maximum amount of future contingent consideration (undiscounted) that we could be required to pay associated with our completed acquisitions was approximately $359 million. Refer to Note B – Acquisitions and Strategic Investments to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for additional information. The recurring Level 3 fair value measurements of our contingent consideration liability that we expect to be required to settle include the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of March 31, 2023 Valuation Technique Unobservable Input Range Weighted Average (1) R&D, Regulatory and Commercialization-based Milestones $13 million Discounted Cash Flow Discount Rate 1% - 2% 2% Probability of Payment 10% - 25% 22% Projected Year of Payment 2023 - 2025 2024 Revenue-based Payments $80 million Discounted Cash Flow Discount Rate 6% - 14% 7% Probability of Payment 100% 100% Projected Year of Payment 2023 - 2024 2023 (1) Unobservable inputs were weighted by the relative fair value of the contingent consideration liability. For projected year of payment, the amount represents the median of the inputs and is not a weighted average. Projected contingent payment amounts related to research and development (R&D), regulatory and commercialization-based milestones and revenue-based payments are discounted back to the current period, primarily using a discounted cash flow model. Significant increases or decreases in projected revenues, probabilities of payment, discount rates or the time until payment is made would have resulted in a significantly lower or higher fair value measurement as of March 31, 2023. Strategic Investments The aggregate carrying amount of our strategic investments was comprised of the following: As of (in millions) March 31, 2023 December 31, 2022 Equity method investments $ 166 $ 188 Measurement alternative investments (1, 2) 219 219 $ 385 $ 407 (1) Measurement alternative investments are privately-held equity securities without readily determinable fair values that are measured at cost less impairment, if any, adjusted to fair value for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer, recognized in Other, net within our accompanying unaudited consolidated statements of operations. (2) Includes publicly-held securities measured at fair value with changes in fair value recognized in Other, net within our accompanying unaudited consolidated statements of operations. These investments are classified as Other long-term assets within our accompanying unaudited consolidated balance sheets, in accordance with U.S. GAAP and our accounting policies.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE C – GOODWILL AND OTHER INTANGIBLE ASSETS The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for intangible assets subject to amortization and accumulated goodwill impairment charges are as follows: As of March 31, 2023 As of December 31, 2022 (in millions) Gross Carrying Amount Accumulated Amortization/ Write-offs Gross Carrying Amount Accumulated Amortization/ Write-offs Technology-related $ 12,707 $ (7,553) $ 12,397 $ (7,378) Patents 473 (381) 486 (394) Other intangible assets 2,005 (1,422) 1,960 (1,400) Amortizable intangible assets $ 15,185 $ (9,357) $ 14,843 $ (9,173) Goodwill $ 23,169 $ (9,900) $ 22,820 $ (9,900) IPR&D $ 112 $ 112 Technology-related 120 120 Indefinite-lived intangible assets $ 232 $ 232 The increase in our balance of goodwill and amortizable intangible assets is related primarily to our acquisition of a majority stake investment in Acotec completed in the first quarter of 2023. The following represents a roll-forward of our goodwill balance by global reportable segment: (in millions) MedSurg Cardiovascular Total As of December 31, 2022 $ 4,237 $ 8,684 $ 12,920 Goodwill acquired — 336 336 Impact of foreign currency fluctuations and purchase price adjustments — 13 13 As of March 31, 2023 $ 4,237 $ 9,032 $ 13,269 Goodwill and Intangible Asset Impairments We did not record any goodwill impairment charges in the first quarters 2023 or 2022. Refer to Note A – Significant Accounting Policies to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for further discussion of our annual goodwill and intangible asset impairment testing.

Hedging Activities and Fair Val

Hedging Activities and Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
HEDGING ACTIVITIES AND FAIR VALUE MEASUREMENTS	NOTE D – HEDGING ACTIVITIES AND FAIR VALUE MEASUREMENTS Derivative Instruments and Hedging Activities We address market risk from changes in foreign currency exchange rates and interest rates through risk management programs which include the use of derivative and nonderivative financial instruments. We manage concentration of counterparty credit risk by limiting acceptable counterparties to major financial institutions with investment grade credit ratings, limiting the amount of credit exposure to individual counterparties and actively monitoring counterparty credit ratings. We also employ master netting arrangements that limit the risk of counterparty non-payment on a particular settlement date to the net gain that would have otherwise been received from the counterparty. Although not completely eliminated, we do not consider the risk of counterparty default to be significant as a result of these protections. Further, none of our derivative instruments are subject to collateral or other security arrangements, nor do they contain provisions that are dependent on our credit ratings from any credit rating agency. Currency Hedging Instruments Our risk from changes in currency exchange rates consists primarily of monetary assets and liabilities, forecasted intercompany and third-party transactions, and net investments in certain subsidiaries. We manage currency exchange rate risk at a consolidated level to reduce the cost of hedging by taking advantage of offsetting transactions. We employ derivative and nonderivative instruments, primarily forward currency contracts, to reduce the risk to our earnings and cash flows associated with changes in currency exchange rates. The success of our currency risk management program depends, in part, on forecast transactions denominated primarily in euro, British pound sterling, Swiss franc, Japanese yen, Chinese renminbi and Australian dollar. We may experience unanticipated currency exchange gains or losses to the extent the actual activity is different than forecast. In addition, changes in currency exchange rates related to any unhedged transactions may impact our earnings and cash flows. Certain of our currency derivative instruments are designated as cash flow hedges under FASB ASC Topic 815, Derivatives and Hedging (FASB ASC Topic 815), and are intended to protect the U.S. dollar value of forecasted transactions. The gain or loss on a derivative instrument designated as a cash flow hedge is recorded in the Net change in derivative financial instruments component of Other comprehensive income (loss), net of tax (OCI) within our unaudited consolidated statements of comprehensive income (loss) until the underlying third-party transaction occurs. When the underlying third-party transaction occurs, we recognize the gain or loss in earnings within Cost of products sold in our unaudited consolidated statements of operations. In the event the hedging relationship is no longer effective, or if the occurrence of the hedged forecast transaction becomes no longer probable, we reclassify the gains or losses within AOCI to earnings at that time. The cash flows related to the derivative instruments designated as cash flow hedges are reported as operating activities in our consolidated statements of cash flows. We designate certain euro-denominated debt as net investment hedges to hedge a portion of our net investments in certain of our entities with functional currencies denominated in the Euro. As of March 31, 2023 and December 31, 2022, we designated as a net investment hedge our €900 million in aggregate principal amount of 0.625% euro-denominated senior notes issued in November 2019 and due in 2027 (2027 Notes). For these nonderivative instruments, we defer recognition of the foreign currency remeasurement gains and losses within the Cumulative Translation Adjustment (CTA) component of O ther Comprehensive Income (OCI) . We reclassify these gains and losses to current period earnings within Other, net in our accompanying unaudited consolidated statements of operations only when the hedged item affects earnings, which would occur upon disposal or substantial liquidation of the underlying foreign subsidiary. We also use forward currency contracts that are not part of designated hedging relationships as a part of our strategy to manage our exposure to currency exchange rate risk related to monetary assets and liabilities and related forecast transactions. These non-designated currency forward contracts have an original time to maturity consistent with the hedged currency transaction exposures, generally less than one year, and are marked-to-market with changes in fair value recorded to earnings within Other, net within our accompanying unaudited consolidated statements of operations. Interest Rate Hedging Instruments Our interest rate risk relates primarily to U.S. dollar and euro-denominated borrowings partially offset by U.S. dollar cash investments. We use interest rate derivative instruments to mitigate the risk to our earnings and cash flows associated with exposure to changes in interest rates. Under these agreements, we and the counterparty, at specified intervals, exchange the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. We designate these derivative instruments either as fair value or cash flow hedges in accordance with FASB ASC Topic 815. We had no interest rate derivative instruments designated as cash flow hedges outstanding as of March 31, 2023 or December 31, 2022. In the event that we designate outstanding interest rate derivative instruments as cash flow hedges, we record the changes in the fair value of the derivatives within OCI until the underlying hedged transaction occurs. The following table presents the contractual amounts of our hedging instruments outstanding: (in millions) FASB ASC Topic 815 Designation As of March 31, 2023 December 31, 2022 Forward currency contracts Cash flow hedge $ 2,673 $ 2,725 Forward currency contracts Net investment hedge 365 365 Foreign currency-denominated debt (1) Net investment hedge 997 997 Forward currency contracts Non-designated 3,623 4,235 Total Notional Outstanding $ 7,657 $ 8,321 (1) Foreign currency-denominated debt is the €900 million debt principal associated with our 2027 Notes designated as a net investment hedge. As of March 31, 2023, the remaining time to maturity is within 36 months for all forward currency contracts designated as cash flow hedges and generally less than one year for all non-designated forward currency contracts. The forward currency contracts designated as net investment hedges generally mature between one and three years. The euro-denominated debt principal designated as a net investment hedge has a contractual maturity of December 1, 2027. The following presents the effect of our derivative and nonderivative instruments designated as cash flow and net investment hedges under FASB ASC Topic 815 in our accompanying unaudited consolidated statements of operations. Refer to Note M – Changes in Other Comprehensive Income for the total amounts relating to derivative and nonderivative instruments presented within our accompanying unaudited consolidated statements of comprehensive income (loss). Effect of Hedging Relationships on Accumulated Other Comprehensive Income Amount Recognized in OCI on Hedges Unaudited Consolidated Statements of Operations (1) Amount Reclassified from AOCI into Earnings (in millions) Pre-Tax Gain (Loss) Tax Benefit (Expense) Gain (Loss) Net of Tax Location of Amount Reclassified and Total Amount of Line Item Pre-Tax (Gain) Loss Tax (Benefit) Expense (Gain) Loss Net of Tax Three Months Ended March 31, 2023 Forward currency contracts Cash flow hedges $ 13 $ (3) $ 10 Cost of products sold $ 1,040 $ (69) $ 16 $ (54) Net investment hedges (2) 6 (1) 4 Interest expense 65 (3) 1 (2) Foreign currency-denominated debt Net investment hedges (3) (19) 4 (14) Other, net 43 — — — Interest rate derivative contracts Cash flow hedges — — — Interest expense 65 1 — 1 Effect of Hedging Relationships on Accumulated Other Comprehensive Income Amount Recognized in OCI on Hedges Unaudited Consolidated Statements of Operations (1) Amount Reclassified from AOCI into Earnings (in millions) Pre-Tax Gain (Loss) Tax Benefit (Expense) Gain (Loss) Net of Tax Location of Amount Reclassified and Total Amount of Line Item Pre-Tax (Gain) Loss Tax (Benefit) Expense (Gain) Loss Net of Tax Three Months Ended March 31, 2022 Forward currency contracts Cash flow hedges $ 45 $ (10) $ 35 Cost of products sold $ 955 $ (30) $ 7 $ (23) Net investment hedges (2) 15 (3) 11 Interest expense 279 (2) — (2) Foreign currency-denominated debt Net investment hedges (3) 24 (5) 18 Other, net 31 — — — Interest rate derivative contracts Cash flow hedges — — — Interest Expense 279 14 (3) 11 (1) In all periods presented in the table above, the pre-tax (gain) loss amounts reclassified from AOCI to earnings represent the effect of the hedging relationships on earnings. (2) For our outstanding forward currency contracts designated as net investment hedges, the net gain or loss reclassified from AOCI to earnings as a reduction of Interest expense represents the straight-line amortization of the excluded component as calculated at the date of designation. This initial value of the excluded component has been excluded from the assessment of effectiveness in accordance with FASB ASC Topic 815. In the current and prior period, we did not recognize any gains or losses on the components included in the assessment of hedge effectiveness in earnings. (3) For our outstanding euro-denominated debt principal designated as a net investment hedge, the change in fair value attributable to changes in the spot rate is recorded in the CTA component of OCI . No amounts were reclassified from AOCI to current period earnings. As of March 31, 2023, pre-tax net gains or losses for our derivative instruments designated, or previously designated, as cash flow and net investment hedges under FASB ASC Topic 815 that may be reclassified from AOCI to earnings within the next twelve months are presented below: (in millions) FASB ASC Topic 815 Designation Location on Unaudited Consolidated Statements of Operations Amount of Pre-Tax Gain (Loss) that may be Reclassified to Earnings Designated Hedging Instrument Forward currency contracts Cash flow hedge Cost of products sold $ 189 Forward currency contracts Net investment hedge Interest expense 9 Interest rate derivative contracts Cash flow hedge Interest expense (3) Net gains and losses on currency hedge contracts not designated as hedging instruments offset by net gains and losses from currency transaction exposures are presented below: Location on Unaudited Consolidated Statements of Operations Three Months Ended March 31, (in millions) 2023 2022 Net gain (loss) on currency hedge contracts Other, net $ (8) $ (29) Net gain (loss) on currency transaction exposures Other, net (6) 21 Net currency exchange gain (loss) $ (14) $ (9) Fair Value Measurements FASB ASC Topic 815 requires all derivative and nonderivative instruments to be recognized at their fair values as either assets or liabilities on the balance sheet. We determine the fair value of our derivative and nonderivative instruments using the framework prescribed by FASB ASC Topic 820, Fair Value Measurements and Disclosures (FASB ASC Topic 820) and considering the estimated amount we would receive or pay to transfer these instruments at the reporting date with respect to current currency exchange rates, interest rates, the creditworthiness of the counterparty for unrealized gain positions and our own creditworthiness for unrealized loss positions. In certain instances, we may utilize financial models to measure fair value of our derivative and nonderivative instruments. In doing so, we use inputs that include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, other observable inputs for the asset or liability and inputs derived principally from, or corroborated by, observable market data by correlation or other means. The following are the balances of our derivative and nonderivative assets and liabilities: Location on Unaudited Consolidated Balance Sheets (1) As of (in millions) March 31, 2023 December 31, 2022 Derivative and Nonderivative Assets: Designated Hedging Instruments Forward currency contracts Other current assets $ 168 $ 196 Forward currency contracts Other long-term assets 132 149 299 345 Non-Designated Hedging Instruments Forward currency contracts Other current assets 19 36 Total Derivative and Nonderivative Assets $ 319 $ 381 Derivative and Nonderivative Liabilities: Designated Hedging Instruments Forward currency contracts Other long-term liabilities 0 1 Foreign currency-denominated debt (2) Long-term debt 971 952 972 953 Non-Designated Hedging Instruments Forward currency contracts Other current liabilities 37 52 Total Derivative and Nonderivative Liabilities $ 1,009 $ 1,005 (1) We classify derivative and nonderivative assets and liabilities as current when the settlement date of the contract is one year or less. (2) Foreign currency-denominated debt is the €900 million debt principal associated with our 2027 Notes designated as a net investment hedge. A portion of this notional is subject to de-designation and re-designation based on changes in the underlying hedged item. Recurring Fair Value Measurements On a recurring basis, we measure certain financial assets and financial liabilities at fair value based upon quoted market prices. Where quoted market prices or other observable inputs are not available, we apply valuation techniques to estimate fair value. FASB ASC Topic 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The category of a financial asset or a financial liability within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows: • Level 1 – Inputs to the valuation methodology are quoted market prices for identical assets or liabilities. • Level 2 – Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs. • Level 3 – Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk. Assets and liabilities measured at fair value on a recurring basis consist of the following: As of March 31, 2023 December 31, 2022 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Money market funds and time deposits $ 170 $ — $ — $ 170 $ 673 $ — $ — $ 673 Publicly-held equity securities 2 — — 2 2 — — 2 Hedging instruments — 319 — 319 — 381 — 381 Licensing arrangements — — 113 113 — — 127 127 $ 172 $ 319 $ 113 $ 604 $ 674 $ 381 $ 127 $ 1,182 Liabilities Hedging instruments $ — $ 1,009 $ — $ 1,009 $ — $ 1,005 $ — $ 1,005 Contingent consideration liability — — 93 93 — — 149 149 Licensing arrangements — — 120 120 — — 159 159 $ — $ 1,009 $ 213 $ 1,222 $ — $ 1,005 $ 308 $ 1,313 Our investments in money market funds and time deposits are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. These investments are classified as Cash and cash equivalents within our accompanying unaudited consolidated balance sheets, in accordance with U.S. GAAP and our accounting policies. In addition to $170 million invested in money market funds and time deposits as of March 31, 2023 and $673 million as of December 31, 2022, we held $400 million in interest-bearing and non-interest-bearing bank accounts as of March 31, 2023 and $256 million as of December 31, 2022. Our recurring fair value measurements using Level 3 inputs include those related to our contingent consideration liability. Refer to Note B – Acquisitions, Divestitures and Strategic Investments for a discussion of the changes in the fair value of our contingent consideration liability. In addition, our recurring fair value measurements using Level 3 inputs related to our licensing arrangements, including the contractual right to receive future royalty payments related to the Zytiga™ Drug. We maintain a financial asset and associated liability for our licensing arrangements measured at fair value in our accompanying unaudited consolidated balance sheets in accordance with FASB ASC Topic 825, Financial Instruments . We elected the fair value option to measure the financial asset and associated liability as it provides for consistency and comparability of these financial instruments with others. Refer to Note D – Hedging Activities and Fair Value Measurements to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for additional information. The recurring Level 3 fair value measurements of our licensing arrangements recognized in our accompanying unaudited consolidated balance sheets as of March 31, 2023 include the following significant unobservable inputs: Licensing Arrangements Fair Value as of March 31, 2023 Valuation Technique Unobservable Input Range Weighted Average (1) Financial Asset $113 million Discounted Cash Flow Discount Rate 15% 15% Projected Year of Payment 2023 - 2025 2024 Financial Liability $120 million Discounted Cash Flow Discount Rate 12 % - 15% 13% Projected Year of Payment 2023 - 2026 2024 (1) Unobservable inputs relate to a single financial asset and liability. As such, unobservable inputs were not weighted by the relative fair value of the instruments. For projected year of payment, the amount represents the median of the inputs and is not a weighted average. Changes in the fair value of our licensing arrangements' financial asset were as follows: (in millions) Balance as of December 31, 2022 $ 127 Proceeds from royalty rights (18) Fair value adjustment (expense) benefit 4 Balance as of March 31, 2023 $ 113 Changes in the fair value of our licensing arrangements' financial liability were as follows: (in millions) Balance as of December 31, 2022 $ 159 Payments for royalty rights (43) Fair value adjustment expense (benefit) 5 Balance as of March 31, 2023 $ 120 Non-Recurring Fair Value Measurements We hold certain assets and liabilities that are measured at fair value on a non-recurring basis in periods after initial recognition. The fair value of a measurement alternative investment is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. Refer to Note B – Acquisitions, Divestitures and Strategic Investments for a discussion of our strategic investments and Note C – Goodwill and Other Intangible Assets for a discussion of the fair values of our intangible assets including goodwill. The fair value of our outstanding debt obligations was $8.467 billion as of March 31, 2023 and $8.203 billion as of December 31, 2022. We determined fair value by using quoted market prices for our publicly registered senior notes, classified as Level 1 within the fair value hierarchy, and face value for commercial paper, term loans and credit facility borrowings outstanding. Refer to Note E – Contractual Obligations and Commitments for a discussion of our debt obligations.

Contractual Obligations and Com

Contractual Obligations and Commitments	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
CONTRACTUAL OBLIGATIONS AND COMMITMENTS	NOTE E – CONTRACTUAL OBLIGATIONS AND COMMITMENTS Borrowings and Credit Arrangements We had total debt outstanding of $9.005 billion as of March 31, 2023 and $8.935 billion as of December 31, 2022, with current obligations of $510 million as of March 31, 2023 and $20 million as of December 31, 2022. The debt maturity schedule for our long-term debt obligations is presented below: (in millions, except interest rates) Issuance Date Maturity Date As of Coupon Rate (1) March 31, December 31, March 2024 Senior Notes (4) February 2019 March 2024 — 504 3.450% March 2025 Senior Notes (3) March 2022 March 2025 1,088 1,067 0.750% June 2025 Senior Notes May 2020 June 2025 500 500 1.900% March 2026 Senior Notes (4) February 2019 March 2026 255 255 3.750% December 2027 Senior Notes (3) November 2019 December 2027 979 960 0.625% March 2028 Senior Notes (3) March 2022 March 2028 816 800 1.375% March 2028 Senior Notes (4) February 2018 March 2028 344 344 4.000% March 2029 Senior Notes (4) February 2019 March 2029 272 272 4.000% June 2030 Senior Notes May 2020 June 2030 1,200 1,200 2.650% March 2031 Senior Notes (3) March 2022 March 2031 816 800 1.625% March 2034 Senior Notes (3) March 2022 March 2034 544 534 1.875% November 2035 Senior Notes (2) November 2005 November 2035 350 350 6.750% March 2039 Senior Notes (4) February 2019 March 2039 450 450 4.550% January 2040 Senior Notes December 2009 January 2040 300 300 7.375% March 2049 Senior Notes (4) February 2019 March 2049 650 650 4.700% Unamortized Debt Issuance Discount and Deferred Financing Costs 2023 - 2049 (73) (76) Finance Lease Obligation Various 5 5 Long-term debt $ 8,495 $ 8,915 Note: The table above does not include unamortized amounts related to interest rate contracts designated as cash flow hedges. (1) Coupon rates are semi-annual, except for the euro-denominated senior notes, which bear an annual coupon. (2) Corporate credit rating improvements may result in a decrease in the adjusted interest rate on our November 2035 Notes to the extent that our lowest credit rating is above BBB- or Baa3. The interest rates on our November 2035 Notes will be permanently reinstated to the issuance rate if the lowest credit ratings assigned to these senior notes is either A- or A3 or higher. Effective May 2023, the interest rate payable will decrease by 0.25 percent and begin accruing at a rate of 6.50 percent following recent upgrades to our credit ratings. (3) These notes are euro-denominated and presented in U.S. dollars based on the exchange rate in effect as of March 31, 2023 and December 31, 2022, respectively. (4) Amounts repaid, or partially repaid as the case may be, in connection with the March 2022 tender offer and early redemption of certain of our outstanding senior notes are described below. Revolving Credit Facility On May 10, 2021, we entered into a new $2.750 billion revolving credit facility (2021 Revolving Credit Facility) with a global syndicate of commercial banks scheduled to mature on May 10, 2026, with one-year extension options, subject to certain conditions. On March 1, 2023, we entered into an amendment of the 2021 Revolving Credit Facility credit agreement, which provided for an extension of the scheduled maturity date to May 10, 2027 and replaced the London Interbank Offered Rate (LIBOR) with the Secured Overnight Financing Rate (SOFR) as the Eurocurrency Rate for Dollars, including applicable credit spread adjustments and relevant SOFR benchmark provisions, among other things described under Financial Covenant below. This facility provides backing for our commercial paper program, and outstanding commercial paper directly reduces borrowing capacity under the 2021 Revolving Credit Facility. There were no amounts outstanding under the 2021 Revolving Credit Facility as of March 31, 2023 or December 31, 2022. Financial Covenant As of March 31, 2023, we were in compliance with the financial covenant required by the 2021 Revolving Credit Facility, as amended. Covenant Requirement Actual as of March 31, 2023 as of March 31, 2023 Maximum permitted leverage ratio (1) 3.75 times 2.52 times (1) Ratio of total debt to consolidated EBITDA, as defined by the credit agreements, as amended. The 2021 Revolving Credit Facility includes the financial covenant requirement for all of our credit arrangements that we maintain the maximum permitted leverage ratio of 3.75 times through the remaining term. The agreement provides for higher leverage ratios, at our election, for the period following a qualified acquisition for which consideration exceeds $1.000 billion. In the event of such an acquisition, for the four succeeding quarters immediately following, including the quarter in which the acquisition occurs, the maximum permitted leverage ratio is 4.75 times. The maximum permitted ratio steps down for the fifth, sixth and seventh succeeding quarters to 4.50 times, 4.25 times and 4.00 times, respectively. Thereafter, a maximum leverage ratio of 3.75 times is required through the remaining term of the 2021 Revolving Credit Facility. We have not elected to increase the maximum permitted leverage ratio for any qualified acquisitions due to our funding of these acquisitions using cash on hand. The financial covenant requirement, as amended on March 1, 2023, provides for an exclusion from the calculation of consolidated EBITDA, as defined by the credit agreement, through maturity, of certain charges and expenses. The credit agreement amendment reset the starting date for purposes of calculating such permitted exclusions in each case from March 31, 2021 to December 31, 2022. Permitted exclusions include any non-cash charges and up to $500 million in restructuring charges and restructuring-related expenses associated with our current or future restructuring plans. As of March 31, 2023, we had $457 million of the restructuring charge exclusion remaining. In addition, any cash litigation payments (net of any cash litigation receipts), as defined by the agreement, are excluded from the calculation of consolidated EBITDA, as defined by the agreement, provided that the sum of any excluded net cash litigation payments do not exceed $1.000 billion plus all accrued legal liabilities as of December 31, 2022 for a total of $1.443 billion. As of March 31, 2023, we had $1.424 billion of the litigation exclusion remaining. Any inability to maintain compliance with this covenant could require us to seek to renegotiate the terms of our credit arrangements or seek waivers from compliance with this covenant, both of which could result in additional borrowing costs. Further, there can be no assurance that our lenders would agree to such new terms or grant such waivers on terms acceptable to us. In this case, all 2021 Revolving Credit Facility commitments would terminate, and any amounts borrowed under the facility would become immediately due and payable. Furthermore, any termination of our 2021 Revolving Credit Facility may negatively impact the credit ratings assigned to our commercial paper program, which may impact our ability to refinance any then outstanding commercial paper as it becomes due and payable . Commercial Paper Our commercial paper program is backed by the 2021 Revolving Credit Facility. We had no commercial paper outstanding as of March 31, 2023 or December 31, 2022. In April 2023, we issued commercial paper to partially fund our acquisition of Apollo. As of the date of this Quarterly Report on Form 10-Q, we had approximately $400 million of commercial paper outstanding, which directly reduces our borrowing capacity under the 2021 Revolving Credit Facility. Senior Notes We had senior notes outstanding of $9.067 billion as of March 31, 2023 and $8.986 billion as of December 31, 2022. Our senior notes were issued in public offerings, are redeemable prior to maturity and are not subject to sinking fund requirements. Our senior notes are unsecured, unsubordinated obligations and rank on parity with each other. These notes are effectively junior to liabilities of our subsidiaries (refer to Other Arrangements below). In March 2022, American Medical Systems Europe B.V. (AMS Europe), an indirect, wholly owned subsidiary of Boston Scientific, completed a registered public offering (the Offering) of €3.000 billion in aggregate principal amount of euro-dominated senior notes comprised of €1.000 billion of 0.750% Senior Notes due 2025, €750 million of 1.375% Senior Notes due 2028, €750 million of 1.625% Senior Notes due 2031 and €500 million of 1.875% Senior Notes due 2034 (collectively, the Eurobonds). Boston Scientific has fully and unconditionally guaranteed all of AMS Europe's obligations under the Eurobonds, and no other subsidiary of Boston Scientific will guarantee these obligations. AMS Europe is a “finance subsidiary” as defined in Rule 13-01(a)(4)(vi) of Regulation S-X. The financial condition, results of operations and cash flows of AMS Europe are consolidated in the financial statements of Boston Scientific. The Offering resulted in cash proceeds of $3.270 billion, net of investor discounts and issuance costs. We used the net proceeds from the Offering to fund the tender offer and early redemption of combined aggregate principal amount of $3.275 billion of certain of our outstanding senior notes, as well as to pay accrued interest, tender premiums, fees and expenses. We recorded associated debt extinguishment charges of $194 million during the first quarter of 2022 presented in Interest expense within our accompanying unaudited consolidated statements of operations. Other Arrangements We have accounts receivable factoring programs in certain European countries and with commercial banks in China and Japan which include promissory notes discounting programs. We account for our factoring programs as sales under FASB ASC Topic 860, Transfers and Servicing . We have no retained interest in the transferred receivables, other than collection and administration, and once sold, the accounts receivable are no longer available to satisfy creditors in the event of bankruptcy. Amounts de-recognized for accounts and notes receivable, which are excluded from Trade accounts receivable, net within our accompanying unaudited consolidated balance sheets, are aggregated by contract denominated currency below (in millions): Factoring Arrangements As of March 31, 2023 As of December 31, 2022 Amount Weighted Average Amount Weighted Average Euro denominated $ 188 5.5 % $ 161 2.4 % Yen denominated 188 0.5 % 194 0.6 % Renminbi denominated 14 3.0 % 13 3.1 % Other Contractual Obligations and Commitments We had outstanding letters of credit of $143 million as of March 31, 2023 and $135 million as of December 31, 2022, which consisted primarily of bank guarantees and collateral for workers' compensation insurance arrangements. As of March 31, 2023 and December 31, 2022 we had not recognized a related liability for any outstanding letters of credit within our accompanying unaudited consolidated balance sheets. We have a supplier financing program offered primarily in the U.S. where our suppliers can opt to receive early payment at a nominal discount, while allowing us to lengthen our payment terms and optimize working capital. Our standard payment term in the U.S. is 90 days. All outstanding payables related to the supplier finance program are classified within Accounts Payable within our unaudited consolidated balance sheets and were $128 million as of March 31, 2023 and $129 million as of December 31, 2022. Refer to Note E – Contractual Obligations and Commitments to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for additional information on our borrowings and credit agreements.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Mar. 31, 2023
Supplemental Balance Sheet Information [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	NOTE F – SUPPLEMENTAL BALANCE SHEET INFORMATION Components of selected captions within our accompanying unaudited consolidated balance sheets are as follows: Trade accounts receivable, net As of (in millions) March 31, 2023 December 31, 2022 Trade accounts receivable $ 2,194 $ 2,079 Allowance for credit losses (118) (109) $ 2,076 $ 1,970 The following is a roll forward of our Allowance for credit losses : Three Months Ended March 31, (in millions) 2023 2022 Beginning balance $ 109 $ 108 Credit loss expense 16 11 Write-offs (6) (5) Ending balance $ 118 $ 113 In accordance with FASB ASC Topic 326 , Financial Instruments - Credit Losses (FASB ASC Topic 326), we record credit loss reserves to Allowance for credit losses when we establish Trade accounts receivable if credit losses are expected over the asset's contractual life. We base our estimates of credit loss reserves on historical experience and adjust, as necessary, to reflect current conditions using reasonable and supportable forecasts not already reflected in the historical loss information. We utilize an accounts receivable aging approach, applying country or region-specific factors, to determine the reserve to record at accounts receivable commencement for certain customers. In performing the assessment of outstanding accounts receivable, regardless of country or region, we may consider significant factors relevant to collectability, including those specific to a customer such as bankruptcy, lengthy average payment cycles and type of account. We closely monitor outstanding receivables for potential collection risks, including those that may arise from economic and geopolitical conditions. Our sales to government-owned or supported customers, particularly in southern Europe, are subject to an increased number of days outstanding prior to payment relative to other entities, and, in southern Europe, relative to those in other countries. In addition, we have seen an increase in the volume of our U.S. business conducted in ambulatory surgery centers and office-based laboratories. Many of these customers are smaller than those we have historically done business with and may have more limited liquidity. We have adjusted our estimates of credit loss reserves for these customers, regions and conditions based on collection trends. Inventories As of (in millions) March 31, 2023 December 31, 2022 Finished goods $ 1,223 $ 1,171 Work-in-process 176 147 Raw materials 651 548 $ 2,050 $ 1,867 Other current assets As of (in millions) March 31, 2023 December 31, 2022 Restricted cash and restricted cash equivalents $ 135 $ 149 Derivative assets 187 232 Licensing arrangements 56 60 Other 333 290 $ 711 $ 731 Property, plant and equipment, net As of (in millions) March 31, 2023 December 31, 2022 Land $ 141 $ 137 Buildings and improvements 1,763 1,695 Equipment, furniture and fixtures 3,367 3,297 Capital in progress 567 598 5,837 5,728 Less: accumulated depreciation 3,359 3,282 $ 2,478 $ 2,446 Depreciation expense was $82 million for the first quarter of 2023 and $76 million for the first quarter of 2022. Other long-term assets As of (in millions) March 31, 2023 December 31, 2022 Restricted cash equivalents $ 57 $ 48 Operating lease right-of-use assets 399 386 Derivative assets 133 149 Investments 385 407 Licensing arrangements 57 67 Indemnification asset 170 172 Other 280 271 $ 1,482 $ 1,500 Accrued expenses As of (in millions) March 31, 2023 December 31, 2022 Legal reserves $ 207 $ 231 Payroll and related liabilities 661 830 Rebates 347 352 Contingent consideration 83 74 Other 620 674 $ 1,918 $ 2,160 Other current liabilities As of (in millions) March 31, 2023 December 31, 2022 Deferred revenue $ 231 $ 220 Licensing arrangements 57 79 Taxes payable 281 232 Other 217 230 $ 787 $ 761 Other long-term liabilities As of (in millions) March 31, 2023 December 31, 2022 Accrued income taxes $ 608 $ 597 Legal reserves 209 212 Contingent consideration 10 75 Licensing arrangements 63 80 Operating lease liabilities 360 347 Deferred revenue 290 289 Other 457 434 $ 1,995 $ 2,035

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE G – INCOME TAXES Our effective tax rate from continuing operations is presented below: Three Months Ended March 31, 2023 2022 Effective tax rate from continuing operations 29.4 % 29.1 % The changes in our reported tax rates for the first quarter of 2023, as compared to the same period in 2022, relate primarily to the impact of certain receipts and charges that are taxed at different rates than our effective tax rate. These include debt extinguishment charges recorded in the first quarter of 2022, as well as certain discrete tax items primarily related to provision-to-return adjustments recorded in the first quarter of 2023. As of March 31, 2023, we had $501 million of gross unrecognized tax benefits, of which a net $415 million, if recognized, would affect our effective tax rate. As of December 31, 2022, we had $492 million of gross unrecognized tax benefits, of which a net $410 million, if recognized, would affect our effective tax rate. The change in our gross unrecognized tax benefit is primarily related to positions on new entities we acquired through recent acquisitions and restructuring activities. It is reasonably possible that within the next 12 months, we will resolve multiple issues with foreign, federal and state taxing authorities, resulting in a reduction in our balance of unrecognized tax benefits of up to $77 million.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE H – COMMITMENTS AND CONTINGENCIES The medical device market in which we participate is largely technology driven. As a result, intellectual property rights, particularly patents and trade secrets, play a significant role in product development and differentiation. Over the years, there has been litigation initiated against us by others, including our competitors, claiming that our current or former product offerings infringe patents owned or licensed by them. Intellectual property litigation is inherently complex and unpredictable. In addition, competing parties frequently file multiple suits to leverage patent portfolios across product lines, technologies and geographies and to balance risk and exposure between the parties. In some cases, several competitors are parties in the same proceeding, or in a series of related proceedings, or litigate multiple features of a single class of devices. These dynamics frequently drive settlement not only for individual cases, but also for a series of pending and potentially related and unrelated cases. Although monetary and injunctive relief is typically sought, remedies and restitution are generally not determined until the conclusion of the trial court proceedings and can be modified on appeal. Accordingly, the outcomes of individual cases are difficult to time, predict or quantify and are often dependent upon the outcomes of other cases in other geographies. During recent years, we successfully negotiated closure of several long-standing legal matters and have received favorable rulings in several other matters; however, there continues to be outstanding litigation. Adverse outcomes in one or more of these matters could have a material adverse effect on our ability to sell certain products and on our operating margins, financial position, results of operations and/or liquidity. In addition, product liability, securities and commercial claims have been asserted against us and similar claims may be asserted against us in the future related to events not known to management at the present time. We maintain an insurance policy providing limited coverage against securities claims and we are substantially self-insured with respect to product liability claims and fully self-insured with respect to intellectual property infringement claims. The absence of significant third-party insurance coverage increases our potential exposure to unanticipated claims or adverse decisions. Product liability claims, securities and commercial litigation and other legal proceedings in the future, regardless of their outcome, could have a material adverse effect on our ability to sell certain products and on our operating margins, financial position, results of operations and/or liquidity. In addition, like other companies in the medical device industry, we are subject to extensive regulation by national, state and local government agencies in the U.S. and other countries in which we operate. From time to time we are the subject of qui tam actions and governmental investigations often involving regulatory, marketing and other business practices. These qui tam actions and governmental investigations could result in the commencement of civil and criminal proceedings, substantial fines, penalties and administrative remedies and have a material adverse effect on our financial position, results of operations and/or liquidity. For additional information, refer to Note I – Commitments and Contingencies to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K. In accordance with FASB ASC Topic 450, Contingencies , we accrue anticipated costs of settlement, damages, losses for product liability claims and, under certain conditions, costs of defense, based on historical experience or to the extent specific losses are probable and estimable. Otherwise, we expense these costs as incurred. If the estimate of a probable loss is a range and no amount within the range is more likely, we accrue the minimum amount of the range. We record certain legal and product liability charges, credits and costs of defense, which we consider to be unusual or infrequent and significant as Litigation-related net charges (credits) within our accompanying unaudited consolidated financial statements. All other legal and product liability charges, credits and costs are recorded within Selling, general and administrative expenses within our accompanying unaudited consolidated statements of operations. Our accrual for legal matters that are probable and estimable was $416 million as of March 31, 2023 and $443 million as of December 31, 2022 and includes certain estimated costs of settlement, damages and defense primarily related to product liability cases or claims related to our transvaginal surgical mesh products. A portion of this accrual is already funded through our qualified settlement fund (QSF), which is included in restricted cash and restricted cash equivalents in Other current assets of $135 million as of March 31, 2023 and $149 million as of December 31, 2022. Refer to Note F – Supplemental Balance Sheet Information for additional information. We did not record any litigation-related net charges during the first quarter of 2023 or 2022. We continue to assess certain litigation and claims to determine the amounts, if any, that management believes will be paid as a result of such claims and litigation and, therefore, additional losses may be accrued and paid in the future, which could materially adversely impact our operating results, cash flows and/or our ability to comply with our financial covenant. In management's opinion, we are not currently involved in any legal proceedings other than those disclosed in our most recent Annual Report on Form 10-K and those specifically identified below, which, individually or in the aggregate, could have a material adverse effect on our financial condition, operations and/or cash flows. Unless included in our legal accrual or otherwise indicated below, a range of loss associated with any individual material legal proceeding cannot be reasonably estimated. Patent Litigation On October 28, 2015, the Company filed suit against Cook Group Limited and Cook Medical LLC (collectively, Cook) in the United States District Court for the District of Delaware (1:15-cv-00980) alleging infringement of certain Company patents regarding Cook’s Instinct™ Endoscopic Hemoclip. The Company seeks lost profits, a reasonable royalty and a permanent injunction. The case was transferred to the District Court for the Southern District of Indiana. Cook filed Inter Partes Review (IPR) requests with the U.S. Patent and Trademark Office (USPTO) against four then-asserted patents, which resulted in the court staying the case until 2020. All IPRs concluded and confirmed the validity of certain claims of each challenged patent. In February 2023, the District Court issued summary judgment rulings dismissing certain claims and defenses. Trial on the remaining two asserted patents is scheduled for May 2023. On November 20, 2017, The Board of Regents, University of Texas System and TissueGen. Inc. (collectively, UT), served a lawsuit against us in the Western District of Texas. The complaint against the Company alleges patent infringement of two U.S. patents owned by UT, relating to “Drug Releasing Biodegradable Fiber Implant” and “Drug Releasing Biodegradable Fiber for Delivery of Therapeutics,” and affects the manufacture, use and sale of our Synergy™ Stent System. UT primarily seeks a reasonable royalty. On March 12, 2018, the District Court for the Western District of Texas dismissed the action and transferred it to the United States District Court for the District of Delaware. On September 5, 2019, the Court of Appeals for the Federal Circuit affirmed the dismissal of the District Court for the Western District of Texas. In April 2020, the United States Supreme Court denied the UT’s Petition for Certiorari. UT proceeded with its case against us in Delaware. In January 2023, a jury trial was held on the issue of whether the one UT patent still asserted in the case was valid and whether it was infringed by the Company. On January 31, 2023, a jury concluded that UT’s patent was valid and willfully infringed by the Company, and awarded UT $42 million in damages. Following the trial, UT has filed a motion seeking prejudgment interest and enhanced damages. The Company has filed a motion seeking judgment as a matter of law in its favor or alternatively a new trial. Product Liability Litigation Multiple product liability cases or claims related to transvaginal surgical mesh products designed to treat stress urinary incontinence and pelvic organ prolapse have been asserted against us, predominantly in the United States, Canada, the United Kingdom, Scotland, Ireland, and Australia. Plaintiffs generally seek monetary damages based on allegations of personal injury associated with the use of our transvaginal surgical mesh products, including design and manufacturing claims, failure to warn, breach of warranty, fraud, violations of state consumer protection laws and loss of consortium claims. We have entered into individual and master settlement agreements in principle or are in the final stages of entering agreements with certain plaintiffs' counsel, to resolve the majority of these cases and claims. All settlement agreements were entered into solely by way of compromise and without any admission or concession by us of any liability or wrongdoing. In addition, in April 2021 the Company's Board of Directors received a shareholder demand under section 220 of the Delaware General Corporation Law, for inspection of books and records related to mesh settlements. The Company has notified our insurer and retained counsel to respond to the demand. We have established a product liability accrual for remaining claims asserted against us associated with our transvaginal surgical mesh products and the costs of defense thereof. We continue to engage in discussions with plaintiffs’ counsel regarding potential resolution of pending cases and claims. We continue to vigorously contest these cases and claims. The final resolution of the cases and claims is uncertain and could have a material impact on our results of operations, financial condition and/or liquidity. Trials involving our transvaginal surgical mesh products have resulted in both favorable and unfavorable judgments for us. We do not believe that the judgment in any one trial is representative of potential outcomes of all cases or claims related to our transvaginal surgical mesh products. Governmental Investigations and Qui Tam Matters On December 1, 2015, the Brazilian governmental entity known as CADE (the Administrative Council of Economic Defense), served a search warrant on the offices of our Brazilian subsidiary, as well as on the Brazilian offices of several other major medical device makers who do business in Brazil, in furtherance of an investigation into alleged anti-competitive activity with respect to certain tender offers for government contracts. On June 20, 2017, CADE, through the publication of a “technical note,” announced that it was launching a formal administrative proceeding against Boston Scientific’s Brazilian subsidiary, Boston Scientific do Brasil Ltda. (BSB), as well as against the Brazilian operations of Medtronic, Biotronik and St. Jude Medical, two Brazilian associations, ABIMED and AMBIMO and 29 individuals for alleged anti-competitive behavior. Under applicable guidance, BSB could be fined a percentage of BSB’s 2016 gross revenues. In August 2021, the investigating commissioner issued a preliminary recommendation of liability against all of the involved companies, and also recommended that CADE impose fines and penalties. However, on October 25, 2021, the CADE Attorney General's office recommended dismissal of the charges and allegations against BSB and the individual BSB employees who were still individual defendants. Subsequently, on March 30, 2022, the Federal Prosecutor’s office issued a non-binding recommendation that is contrary to the Attorney General’s recommendation. The full Commission is considering both of these recommendations but has not yet issued its decision. We continue to deny the allegations, intend to defend ourselves vigorously and will appeal any decision of liability by the full Commission to the Brazilian courts. During such an appeal, the decision would have no force and effect, and the Court would consider the case without being bound by CADE’s decision. In March 2022, the Company received a whistleblower letter alleging Foreign Corrupt Practices Act violations in Vietnam. The Company has received related subpoenas for documents from the Office of the U.S. Attorney for the District of Massachusetts and the Securities and Exchange Commission. The Company is cooperating with government agencies while investigating these allegations. On April 5, 2023, the Company received a subpoena from the U.S. Department of Justice (DOJ) that seeks documents and information relating to its ambulatory electrocardiography monitoring (AECG) business. The Company is cooperating with the DOJ in responding to this subpoena. Other Proceedings On December 4, 2020, Enrique Jevons, individually and on behalf of all others similarly situated, filed a class action complaint against the Company, Michael F. Mahoney and Daniel J. Brennan, stemming from the recall and retirement of the LOTUS Edge™ Aortic Valve System (LOTUS System) in United States District Court for the Eastern District of New York. On December 14, 2020, the parties agreed to transfer the case to the United States District Court for the District of Massachusetts. On December 16, 2020, Mariano Errichiello, individually and on behalf of all others similarly situated, filed a second, materially similar class action complaint against the Company, Michael F. Mahoney, Joseph M. Fitzgerald, and Daniel J. Brennan in the United States District Court for the District of Massachusetts. Subsequently, on March 30, 2021, the Court consolidated the two actions, and appointed Mariano Errichiello as the lead plaintiff. The plaintiffs filed an Amended Complaint in June 2021 that seeks unspecified compensatory damages in favor of the alleged class as well as unspecified equitable relief. The Company filed a Motion to Dismiss in July 2021, which, in December 2022, the Court granted in part and denied in part. The Company intends to vigorously defend itself against the surviving allegations. On December 15, 2020, the Securities and Exchange Commission’s Boston Regional Office (Boston SEC) notified the Company that it was conducting an investigation related to the Company’s decision to retire the LOTUS System and issued a voluntary request for documents and information related to that decision. On February 10, 2021, the Boston SEC issued a second voluntary request for additional documents and information. The Company cooperated fully with the requests, and on January 3, 2022, the SEC informed us that it was concluding its investigation and that it did not intend to recommend an enforcement action. On February 8, 2021, the Company received a letter from The Vladimir Gusinsky Revocable Trust, a shareholder, demanding that the Company’s Board of Directors conduct an investigation into actions by the Company’s directors and executive officers regarding statements made about the effectiveness and commercial viability of the LOTUS System. The Trust subsequently agreed to stay its demand, pending the outcome of any dispositive motion against the Amended Complaint in the class action complaint described above. The Company received letters on behalf of the Union Excavators Local 731 Pension Fund, Diane Nachbaur, and Frank Tripson, three stockholders of the Company, on July 26, 2021, July 29, 2021, and February 13, 2023, respectively, each demanding access to certain books and records of the Company, pursuant to 8 Delaware Section 220, regarding the business, operations, effectiveness and commercial viability of the LOTUS system, and related items. On February 7, 2023, Diane Nachbaur filed a shareholder derivative complaint in the United States District Court for the District of Massachusetts against the Company, Michael F. Mahoney, Nelda J. Connors, Charles J. Dockendorff, Yoshiaki Fujimori, Donna A. James, Edward J. Ludwig, David Roux, John E. Sununu, Ellen M. Zane, Joseph M. Fitzgerald, Daniel J. Brennan, Shawn McCarthy, Ian Meredith, Kevin Ballinger, and Susan Vissers Lisa.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE I – STOCKHOLDERS' EQUITY Preferred Stock We are authorized to issue 50 million shares of preferred stock in one or more series and to fix the powers, designations, preferences and relative participating, option or other rights thereof, including dividend rights, conversion rights, voting rights, redemption terms, liquidation preferences and the number of shares constituting any series, without any further vote or action by our stockholders. On May 27, 2020, we completed an offering of 10,062,500 shares of 5.50% Mandatory Convertible Preferred Stock (MCPS), Series A at a price to the public and liquidation preference of $100 per share. The net proceeds from the MCPS offering were approximately $975 million after deducting underwriting discounts and commissions and offering expenses. As of March 31, 2023, our MCPS had an aggregate liquidation preference of $1.006 billion. During the first quarter of 2023, the Audit Committee of our Board of Directors (the Committee), pursuant to authority delegated to such committee by our Board of Directors, declared, and we paid, a cash dividend of $1.375 per MCPS share to holders of our MCPS as of February 15, 2023, representing a dividend period from December 2022 through February 2023. On April 24, 2023 the Committee declared a cash dividend of $1.375 per MCPS share to holders of our MCPS as of May 15, 2023, representing a dividend period from March through May 2023. We have presented cumulative, unpaid dividends within Accrued expenses within our accompanying unaudited consolidated balance sheet as of March 31, 2023. Refer to Note J – Stockholders' Equity to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for information on the pertinent rights and privileges of our outstanding common stock.

Weighted Average Shares Outstan

Weighted Average Shares Outstanding	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Weighted Average Number Of Shares Outstanding [Text Block]	NOTE J – WEIGHTED AVERAGE SHARES OUTSTANDING Three Months Ended March 31, (in millions) 2023 2022 Weighted average shares outstanding — basic 1,435.8 1,427.8 Net effect of common stock equivalents 10.2 10.6 Weighted average shares outstanding - diluted 1,446.0 1,438.4 The following securities were excluded from the calculation of diluted weighted average shares outstanding because their effect in the periods presented below would have been anti-dilutive: Three Months Ended March 31, (in millions) 2023 2022 Stock options outstanding (1) 3 3 MCPS (2) 24 24 (1) Represents stock options outstanding pursuant to our employee stock-based compensation plans with exercise prices that were greater than the average fair market value of our common stock for the related periods. (2) Represents common stock issuable upon the conversion of MCPS. Refer to Note I – Stockholders' Equity for additional information. We base Net income (loss) per common share - diluted upon the weighted-average number of common shares and common stock equivalents outstanding during each year. Potential common stock equivalents are determined using the treasury stock method. We exclude stock options, stock awards and MCPS from the calculation if the effect would be anti-dilutive. The dilutive effect of MCPS is calculated using the if-converted method. The if-converted method assumes that these securities were converted to shares of common stock at the beginning of the reporting period to the extent that the effect is dilutive. For the first quarter of 2023 and 2022, the effect of assuming the conversion of MCPS into shares of common stock was anti-dilutive, and therefore excluded from the calculation of earnings per share (EPS). Accordingly, Net income was reduced by cumulative Preferred stock dividends , as presented within our accompanying unaudited consolidated statements of operations, for purposes of calculating Net income attributable to Boston Scientific common stockholders . We issued approximately four million shares of our common stock in the first quarter of 2023 and 2022 following the exercise of stock options, vesting of restricted stock units or purchases under our employee stock purchase plan. We did not repurchase any shares of our common stock in the first quarter of 2023 or 2022. On December 14, 2020, our Board of Directors approved a stock repurchase program authorizing the repurchase of up to $1.000 billion of our common stock. As of March 31, 2023, we had the full amount remaining available under the authorization.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE K – SEGMENT REPORTING We aggregate our core businesses into two reportable segments: MedSurg and Cardiovascular, each of which generates revenues from the sale of medical devices. In accordance with FASB ASC Topic 280, Segment Reporting , we identified our reportable segments based on the nature of our products, production processes, type of customer, selling and distribution methods and regulatory environment, as well as the economic characteristics of each of our operating segments. We measure and evaluate our reportable segments based on their respective net sales, operating income, excluding intersegment profits, and operating income as a percentage of net sales, all excluding the impact of foreign currency. We exclude from operating income of reportable segments certain corporate-related expenses and certain transactions or adjustments that our chief operating decision maker (CODM) considers to be non-operational, such as amounts related to amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits); and certain litigation-related net charges (credits) and European Union (EU) Medical Device Regulation (MDR) implementation costs. Although we exclude these amounts from operating income of reportable segments, they are included in reported Income (loss) before income taxes within our accompanying unaudited consolidated statements of operations and are included in the reconciliation below. Refer to Note L – Revenue for net sales by reportable segment presented in accordance with U.S. GAAP. A reconciliation of the totals reported for the reportable segments to the applicable line items within our accompanying unaudited consolidated statements of operations is as follows (in millions, except percentages). Three Months Ended Net Sales 2023 2022 MedSurg $ 1,252 $ 1,164 Cardiovascular 2,049 1,902 Total net sales of reportable segments 3,301 3,066 Impact of foreign currency fluctuations 88 (40) $ 3,389 $ 3,026 Income (loss) before income taxes MedSurg $ 400 $ 371 Cardiovascular 541 477 Total operating income of reportable segments 940 847 Unallocated amounts: Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments (75) (66) Goodwill and intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits) and EU MDR implementation costs (110) (117) Amortization expense (203) (198) Operating income (loss) 552 466 Other expense, net (108) (310) Income (loss) before income taxes $ 444 $ 156 Three Months Ended March 31, Operating income margin of reportable segments 2023 2022 MedSurg 31.9 % 31.8 % Cardiovascular 26.4 % 25.1 %

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	NOTE L – REVENUE We generate revenue primarily from the sale of single-use medical devices and present revenue net of sales taxes within our accompanying unaudited consolidated statements of operations. Our business structure is organized into five operating segments. The following tables disaggregate our revenue from contracts with customers by component and geographic region (in millions). We allocate revenue from contracts with customers to geographic regions based on the location where the sale originated. Three Months Ended March 31, 2023 2022 Businesses U.S. Int'l Total U.S. Int'l Total Endoscopy $ 351 $ 226 $ 577 $ 312 $ 220 $ 531 Urology 326 143 469 286 127 413 Neuromodulation 172 62 234 161 49 209 MedSurg 850 430 1,280 758 395 1,153 Interventional Cardiology Therapies 183 408 591 186 358 544 Watchman 265 25 291 203 23 226 Cardiac Rhythm Management 345 203 548 325 195 519 Electrophysiology 85 91 177 50 68 118 Cardiology 879 727 1,606 764 644 1,407 Peripheral Interventions 275 229 503 256 210 465 Cardiovascular 1,154 956 2,110 1,019 853 1,873 Total Net Sales $ 2,003 $ 1,386 $ 3,389 $ 1,778 $ 1,248 $ 3,026 Refer to Note K- Segment Reporting for information on our reportable segments. Three Months Ended March 31, Geographic Regions 2023 2022 U.S. $ 2,003 $ 1,778 Europe, Middle East and Africa 712 624 Asia-Pacific 548 517 Latin America and Canada 126 107 Total Net Sales $ 3,389 $ 3,026 Emerging Markets (1) $ 529 $ 440 (1) Periodically, we assess our list of Emerging Markets countries, and effective January 1, 2023, modified our list to include all countries except the United States, Western and Central Europe, Japan, Australia, New Zealand and Canada. We have revised prior year amounts to conform to the current year's presentation. Deferred Revenue Contract liabilities are classified within Other current liabilities and Other long-term liabilities within our accompanying unaudited consolidated balance sheets. Our deferred revenue balance was $521 million as of March 31, 2023 and $509 million as of December 31, 2022. Our contractual liabilities are primarily composed of deferred revenue related to the LATITUDE™ Patient Management System within our Cardiology business, for which revenue is recognized over the average service period based on device and patient longevity. Our contractual liabilities also include deferred revenue related to the LUX-Dx™ Insertable Cardiac Monitor (ICM) system, also within our Cardiology business, for which revenue is recognized over the average service period based on device longevity and usage. We recognized revenue of $42 million in the first quarter that was included in the above contract liability balance as of December 31, 2022. We have elected not to disclose the transaction price allocated to unsatisfied performance obligations when the original expected contract duration is one year or less. In addition, we have not identified material unfulfilled performance obligations for which revenue is not currently deferred. For additional information on variable consideration, refer to Note A – Significant Accounting Policies to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K.

Changes in Other Comprehensive

Changes in Other Comprehensive Income	3 Months Ended
	Mar. 31, 2023
Other Comprehensive Income (Loss), Net of Tax, Period Change [Abstract]
Comprehensive Income (Loss) Note [Text Block]	NOTE M – CHANGES IN OTHER COMPREHENSIVE INCOME The following tables provide the reclassifications out of Other comprehensive income (loss), net of tax : (in millions) Foreign Currency Translation Adjustments Net Change in Derivative Financial Instruments Net Change in Defined Benefit Pensions and Other Items Total Balance as of December 31, 2022 $ (1) $ 269 $ 1 $ 269 Other comprehensive income (loss) before reclassifications (40) 10 (5) (35) (Income) loss amounts reclassified from accumulated other comprehensive income (2) (53) (0) (56) Total other comprehensive income (loss) (42) (43) (5) (91) Balance as of March 31, 2023 $ (43) $ 225 $ (4) $ 178 (in millions) Foreign Currency Translation Adjustments Net Change in Derivative Financial Instruments Net Change in Defined Benefit Pensions and Other Items Total Balance as of December 31, 2021 $ 93 $ 206 $ (36) $ 263 Other comprehensive income (loss) before reclassifications (63) 35 0 (27) (Income) loss amounts reclassified from accumulated other comprehensive income (2) (12) 0 (14) Total other comprehensive income (loss) (64) 23 0 (41) Balance as of March 31, 2022 $ 29 $ 229 $ (36) $ 222 Refer to Note D – Hedging Activities and Fair Value Measurements for further detail on our net investment hedges recorded in Foreign currency translation adjustments and our cash flow hedges recorded in Net change in derivative financial instruments .

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements, Policy	NOTE N – NEW ACCOUNTING PRONOUNCEMENTS Periodically, new accounting pronouncements are issued by the FASB or other standard setting bodies. Recently issued standards typically do not require adoption until a future effective date. Prior to their effective date, we evaluate the pronouncements to determine the potential effects of adoption on our accompanying unaudited consolidated financial statements. During the first quarter of 2023, we implemented the following standards on a prospective basis, none of which had a material impact on our financial position or results of operations. ASC Update No. 2022-01 ASC Update No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method. Update No. 2022-01 expands the current single-layer method to allow multiple hedged layers of a single closed portfolio under the method, among other updates to these methods. ASC Update No. 2022-02 ASC Update No. 2022-02, Financial Instruments- Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures makes amendments related to troubled debt restructurings for entities that have adopted Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as well as amendments related to vintage disclosures for entities with investments in financing receivables that have adopted Update No. 2016-13. ASC Update No. 2022-04 ASC Update No. 2022-04, Liabilities— Supplier Finance Programs (Subtopic 405-50) enhances the transparency of supplier finance programs by requiring that a buyer in a supplier finance program disclose sufficient qualitative and quantitative information about the program to allow a user of financial statements to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. Standards to be Implemented In June 2022, the FASB issued ASC Update No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. Update No. 2022-03 clarifies the guidance in Topic 820 related to measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, as well as introduces new disclosure requirements for these types of equity securities. Update No. 2022-03 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. We do not expect the adoption to have a material impact on our financial position or results of operations. No other new accounting pronouncements issued or effective in the period had or are expected to have a material impact on our accompanying unaudited consolidated financial statements.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Subsequent Events, Policy [Policy Text Block]	Subsequent Events We evaluate events occurring after the date of our accompanying unaudited consolidated balance sheet for potential recognition or disclosure in our financial statements. Those items requiring recognition in the financial statements have been recorded and disclosed accordingly. Those items requiring disclosure (non-recognized subsequent events) in the financial statements have been disclosed accordingly. Refer to Note B – Acquisitions, Divestitures and Strategic Investments, Note H – Commitments and Contingencies and Note I – Stockholders' Equity for further details.

Fair Value Measurements Hedging

Fair Value Measurements Hedging Activities and Fair Value Measurements (Policies)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement, Policy [Policy Text Block]	FASB ASC Topic 815 requires all derivative and nonderivative instruments to be recognized at their fair values as either assets or liabilities on the balance sheet. We determine the fair value of our derivative and nonderivative instruments using the framework prescribed by FASB ASC Topic 820, Fair Value Measurements and Disclosures

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Policies)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Legal Costs, Policy [Policy Text Block]	FASB ASC Topic 450, Contingencies , we accrue anticipated costs of settlement, damages, losses for product liability claims and, under certain conditions, costs of defense, based on historical experience or to the extent specific losses are probable and estimable. Otherwise, we expense these costs as incurred. If the estimate of a probable loss is a range and no amount within the range is more likely, we accrue the minimum amount of the range. We record certain legal and product liability charges, credits and costs of defense, which we consider to be unusual or infrequent and significant as Litigation-related net charges (credits) within our accompanying unaudited consolidated financial statements. All other legal and product liability charges, credits and costs are recorded within Selling, general and administrative expenses

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
ASC Update No. 2022-01, Derivatives and Hedging (Topic 815): FV Hedging -Portfolio Layer Method	ASC Update No. 2022-01 ASC Update No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method.
ASC Update No. 2022-02, Financial Instruments, Credit Losses (Topic 326:Troubled Debt Restructurings and Vintage Disclosures)	ASC Update No. 2022-02 ASC Update No. 2022-02, Financial Instruments- Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures makes amendments related to troubled debt restructurings for entities that have adopted Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as well as
ASC Update No. 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50)	ASC Update No. 2022-04 ASC Update No. 2022-04, Liabilities— Supplier Finance Programs (Subtopic 405-50)
ASC Update No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.	In June 2022, the FASB issued ASC Update No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. Update No. 2022-03 clarifies the guidance in Topic 820 related to measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, as well as introduces new disclosure requirements for these types of equity securities. Update No. 2022-03 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. We do not expect the adoption to have a material impact on our financial position or results of operations.

Acquisitions, Divestitures an_2

Acquisitions, Divestitures and Strategic Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Business Acquisition [Line Items]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Changes in the fair value of our contingent consideration liability during the first quarter of 2023 associated with prior period acquisitions were as follows: (in millions) Balance as of December 31, 2022 $ 149 Contingent consideration net expense (benefit) 12 Contingent consideration payments (68) Balance as of March 31, 2023 $ 93
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	The recurring Level 3 fair value measurements of our contingent consideration liability that we expect to be required to settle include the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of March 31, 2023 Valuation Technique Unobservable Input Range Weighted Average (1) R&D, Regulatory and Commercialization-based Milestones $13 million Discounted Cash Flow Discount Rate 1% - 2% 2% Probability of Payment 10% - 25% 22% Projected Year of Payment 2023 - 2025 2024 Revenue-based Payments $80 million Discounted Cash Flow Discount Rate 6% - 14% 7% Probability of Payment 100% 100% Projected Year of Payment 2023 - 2024 2023 (1) Unobservable inputs were weighted by the relative fair value of the contingent consideration liability. For projected year of payment, the amount represents the median of the inputs and is not a weighted average.
Investment [Table Text Block]	The aggregate carrying amount of our strategic investments was comprised of the following: As of (in millions) March 31, 2023 December 31, 2022 Equity method investments $ 166 $ 188 Measurement alternative investments (1, 2) 219 219 $ 385 $ 407 (1) Measurement alternative investments are privately-held equity securities without readily determinable fair values that are measured at cost less impairment, if any, adjusted to fair value for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer, recognized in Other, net within our accompanying unaudited consolidated statements of operations. (2) Includes publicly-held securities measured at fair value with changes in fair value recognized in Other, net within our accompanying unaudited consolidated statements of operations.
Acotec
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	(in millions) Payment for majority interest acquisition, net of cash acquired (1) $ 375 $ 375 (1) Excludes approximately $140 million of cash on hand at the closing of the transaction.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The preliminary purchase price allocation was comprised of the following components and the final determination of the fair value of certain assets and liabilities will be completed within the measurement period in accordance with FASB ASC Topic 805: (in millions) Goodwill $ 336 Amortizable intangible assets 334 Other assets acquired 61 Liabilities assumed (23) Net deferred tax liabilities (74) Fair value of noncontrolling interest $ (259) $ 375
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	We allocated a portion of the purchase price to the specific intangible asset categories as follows: Amount Assigned (in millions) Weighted Average Amortization Period (in years) Risk-Adjusted Discount Amortizable intangible assets: Technology-related $ 308 11 14% Customer relationships 15 11 14% Other intangible assets 11 13 14% $ 334
Baylis Medical
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	(in millions) Payment for acquisition, net of cash acquired $ 1,463 $ 1,463
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The final purchase price allocation was comprised of the following components: (in millions) Goodwill $ 988 Amortizable intangible assets 657 Other assets acquired 112 Liabilities assumed (287) Net deferred tax liabilities (7) $ 1,463
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	We allocated a portion of the purchase price to the specific intangible asset categories as follows: Amount Assigned (in millions) Weighted Average Amortization Period (in years) Risk-Adjusted Discount Amortizable intangible assets: Technology-related $ 622 11 11% Other intangible assets 36 11 11% $ 657

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for intangible assets subject to amortization and accumulated goodwill impairment charges are as follows: As of March 31, 2023 As of December 31, 2022 (in millions) Gross Carrying Amount Accumulated Amortization/ Write-offs Gross Carrying Amount Accumulated Amortization/ Write-offs Technology-related $ 12,707 $ (7,553) $ 12,397 $ (7,378) Patents 473 (381) 486 (394) Other intangible assets 2,005 (1,422) 1,960 (1,400) Amortizable intangible assets $ 15,185 $ (9,357) $ 14,843 $ (9,173) Goodwill $ 23,169 $ (9,900) $ 22,820 $ (9,900) IPR&D $ 112 $ 112 Technology-related 120 120 Indefinite-lived intangible assets $ 232 $ 232
Schedule of Goodwill [Table Text Block]	The following represents a roll-forward of our goodwill balance by global reportable segment: (in millions) MedSurg Cardiovascular Total As of December 31, 2022 $ 4,237 $ 8,684 $ 12,920 Goodwill acquired — 336 336 Impact of foreign currency fluctuations and purchase price adjustments — 13 13 As of March 31, 2023 $ 4,237 $ 9,032 $ 13,269

Hedging Activities and Fair V_2

Hedging Activities and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative [Line Items]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table presents the contractual amounts of our hedging instruments outstanding: (in millions) FASB ASC Topic 815 Designation As of March 31, 2023 December 31, 2022 Forward currency contracts Cash flow hedge $ 2,673 $ 2,725 Forward currency contracts Net investment hedge 365 365 Foreign currency-denominated debt (1) Net investment hedge 997 997 Forward currency contracts Non-designated 3,623 4,235 Total Notional Outstanding $ 7,657 $ 8,321 (1) Foreign currency-denominated debt is the €900 million debt principal associated with our 2027 Notes designated as a net investment hedge.
Derivative Instruments, Gain (Loss) [Table Text Block]	Effect of Hedging Relationships on Accumulated Other Comprehensive Income Amount Recognized in OCI on Hedges Unaudited Consolidated Statements of Operations (1) Amount Reclassified from AOCI into Earnings (in millions) Pre-Tax Gain (Loss) Tax Benefit (Expense) Gain (Loss) Net of Tax Location of Amount Reclassified and Total Amount of Line Item Pre-Tax (Gain) Loss Tax (Benefit) Expense (Gain) Loss Net of Tax Three Months Ended March 31, 2023 Forward currency contracts Cash flow hedges $ 13 $ (3) $ 10 Cost of products sold $ 1,040 $ (69) $ 16 $ (54) Net investment hedges (2) 6 (1) 4 Interest expense 65 (3) 1 (2) Foreign currency-denominated debt Net investment hedges (3) (19) 4 (14) Other, net 43 — — — Interest rate derivative contracts Cash flow hedges — — — Interest expense 65 1 — 1 Effect of Hedging Relationships on Accumulated Other Comprehensive Income Amount Recognized in OCI on Hedges Unaudited Consolidated Statements of Operations (1) Amount Reclassified from AOCI into Earnings (in millions) Pre-Tax Gain (Loss) Tax Benefit (Expense) Gain (Loss) Net of Tax Location of Amount Reclassified and Total Amount of Line Item Pre-Tax (Gain) Loss Tax (Benefit) Expense (Gain) Loss Net of Tax Three Months Ended March 31, 2022 Forward currency contracts Cash flow hedges $ 45 $ (10) $ 35 Cost of products sold $ 955 $ (30) $ 7 $ (23) Net investment hedges (2) 15 (3) 11 Interest expense 279 (2) — (2) Foreign currency-denominated debt Net investment hedges (3) 24 (5) 18 Other, net 31 — — — Interest rate derivative contracts Cash flow hedges — — — Interest Expense 279 14 (3) 11 (1) In all periods presented in the table above, the pre-tax (gain) loss amounts reclassified from AOCI to earnings represent the effect of the hedging relationships on earnings. (2) For our outstanding forward currency contracts designated as net investment hedges, the net gain or loss reclassified from AOCI to earnings as a reduction of Interest expense represents the straight-line amortization of the excluded component as calculated at the date of designation. This initial value of the excluded component has been excluded from the assessment of effectiveness in accordance with FASB ASC Topic 815. In the current and prior period, we did not recognize any gains or losses on the components included in the assessment of hedge effectiveness in earnings. (3) For our outstanding euro-denominated debt principal designated as a net investment hedge, the change in fair value attributable to changes in the spot rate is recorded in the CTA component of OCI . No amounts were reclassified from AOCI to current period earnings.
Derivative Instruments, Gain (Loss) that may be Reclassified from AOCI to Earnings within Twelve Months [Table Text Block]	As of March 31, 2023, pre-tax net gains or losses for our derivative instruments designated, or previously designated, as cash flow and net investment hedges under FASB ASC Topic 815 that may be reclassified from AOCI to earnings within the next twelve months are presented below: (in millions) FASB ASC Topic 815 Designation Location on Unaudited Consolidated Statements of Operations Amount of Pre-Tax Gain (Loss) that may be Reclassified to Earnings Designated Hedging Instrument Forward currency contracts Cash flow hedge Cost of products sold $ 189 Forward currency contracts Net investment hedge Interest expense 9 Interest rate derivative contracts Cash flow hedge Interest expense (3)
Derivatives Not Designated as Hedging Instruments [Table Text Block]	Net gains and losses on currency hedge contracts not designated as hedging instruments offset by net gains and losses from currency transaction exposures are presented below: Location on Unaudited Consolidated Statements of Operations Three Months Ended March 31, (in millions) 2023 2022 Net gain (loss) on currency hedge contracts Other, net $ (8) $ (29) Net gain (loss) on currency transaction exposures Other, net (6) 21 Net currency exchange gain (loss) $ (14) $ (9)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following are the balances of our derivative and nonderivative assets and liabilities: Location on Unaudited Consolidated Balance Sheets (1) As of (in millions) March 31, 2023 December 31, 2022 Derivative and Nonderivative Assets: Designated Hedging Instruments Forward currency contracts Other current assets $ 168 $ 196 Forward currency contracts Other long-term assets 132 149 299 345 Non-Designated Hedging Instruments Forward currency contracts Other current assets 19 36 Total Derivative and Nonderivative Assets $ 319 $ 381 Derivative and Nonderivative Liabilities: Designated Hedging Instruments Forward currency contracts Other long-term liabilities 0 1 Foreign currency-denominated debt (2) Long-term debt 971 952 972 953 Non-Designated Hedging Instruments Forward currency contracts Other current liabilities 37 52 Total Derivative and Nonderivative Liabilities $ 1,009 $ 1,005 (1) We classify derivative and nonderivative assets and liabilities as current when the settlement date of the contract is one year or less. (2) Foreign currency-denominated debt is the €900 million debt principal associated with our 2027 Notes designated as a net investment hedge. A portion of this notional is subject to de-designation and re-designation based on changes in the underlying hedged item.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Assets and liabilities measured at fair value on a recurring basis consist of the following: As of March 31, 2023 December 31, 2022 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Money market funds and time deposits $ 170 $ — $ — $ 170 $ 673 $ — $ — $ 673 Publicly-held equity securities 2 — — 2 2 — — 2 Hedging instruments — 319 — 319 — 381 — 381 Licensing arrangements — — 113 113 — — 127 127 $ 172 $ 319 $ 113 $ 604 $ 674 $ 381 $ 127 $ 1,182 Liabilities Hedging instruments $ — $ 1,009 $ — $ 1,009 $ — $ 1,005 $ — $ 1,005 Contingent consideration liability — — 93 93 — — 149 149 Licensing arrangements — — 120 120 — — 159 159 $ — $ 1,009 $ 213 $ 1,222 $ — $ 1,005 $ 308 $ 1,313 The recurring Level 3 fair value measurements of our licensing arrangements recognized in our accompanying unaudited consolidated balance sheets as of March 31, 2023 include the following significant unobservable inputs: Licensing Arrangements Fair Value as of March 31, 2023 Valuation Technique Unobservable Input Range Weighted Average (1) Financial Asset $113 million Discounted Cash Flow Discount Rate 15% 15% Projected Year of Payment 2023 - 2025 2024 Financial Liability $120 million Discounted Cash Flow Discount Rate 12 % - 15% 13% Projected Year of Payment 2023 - 2026 2024 (1) Unobservable inputs relate to a single financial asset and liability. As such, unobservable inputs were not weighted by the relative fair value of the instruments. For projected year of payment, the amount represents the median of the inputs and is not a weighted average. Changes in the fair value of our licensing arrangements' financial asset were as follows: (in millions) Balance as of December 31, 2022 $ 127 Proceeds from royalty rights (18) Fair value adjustment (expense) benefit 4 Balance as of March 31, 2023 $ 113 Changes in the fair value of our licensing arrangements' financial liability were as follows: (in millions) Balance as of December 31, 2022 $ 159 Payments for royalty rights (43) Fair value adjustment expense (benefit) 5 Balance as of March 31, 2023 $ 120

Contractual Obligations and C_2

Contractual Obligations and Commitments (Tables)	3 Months Ended
	Mar. 31, 2023
Short-term Debt [Line Items]
Schedule of Long-term Debt Instruments [Table Text Block]	The debt maturity schedule for our long-term debt obligations is presented below: (in millions, except interest rates) Issuance Date Maturity Date As of Coupon Rate (1) March 31, December 31, March 2024 Senior Notes (4) February 2019 March 2024 — 504 3.450% March 2025 Senior Notes (3) March 2022 March 2025 1,088 1,067 0.750% June 2025 Senior Notes May 2020 June 2025 500 500 1.900% March 2026 Senior Notes (4) February 2019 March 2026 255 255 3.750% December 2027 Senior Notes (3) November 2019 December 2027 979 960 0.625% March 2028 Senior Notes (3) March 2022 March 2028 816 800 1.375% March 2028 Senior Notes (4) February 2018 March 2028 344 344 4.000% March 2029 Senior Notes (4) February 2019 March 2029 272 272 4.000% June 2030 Senior Notes May 2020 June 2030 1,200 1,200 2.650% March 2031 Senior Notes (3) March 2022 March 2031 816 800 1.625% March 2034 Senior Notes (3) March 2022 March 2034 544 534 1.875% November 2035 Senior Notes (2) November 2005 November 2035 350 350 6.750% March 2039 Senior Notes (4) February 2019 March 2039 450 450 4.550% January 2040 Senior Notes December 2009 January 2040 300 300 7.375% March 2049 Senior Notes (4) February 2019 March 2049 650 650 4.700% Unamortized Debt Issuance Discount and Deferred Financing Costs 2023 - 2049 (73) (76) Finance Lease Obligation Various 5 5 Long-term debt $ 8,495 $ 8,915 Note: The table above does not include unamortized amounts related to interest rate contracts designated as cash flow hedges. (1) Coupon rates are semi-annual, except for the euro-denominated senior notes, which bear an annual coupon. (2) Corporate credit rating improvements may result in a decrease in the adjusted interest rate on our November 2035 Notes to the extent that our lowest credit rating is above BBB- or Baa3. The interest rates on our November 2035 Notes will be permanently reinstated to the issuance rate if the lowest credit ratings assigned to these senior notes is either A- or A3 or higher. Effective May 2023, the interest rate payable will decrease by 0.25 percent and begin accruing at a rate of 6.50 percent following recent upgrades to our credit ratings. (3) These notes are euro-denominated and presented in U.S. dollars based on the exchange rate in effect as of March 31, 2023 and December 31, 2022, respectively.
Summary Of Term Loan And Revolving Credit Facility Agreement Compliance With Debt Covenants [Table Text Block]	As of March 31, 2023, we were in compliance with the financial covenant required by the 2021 Revolving Credit Facility, as amended. Covenant Requirement Actual as of March 31, 2023 as of March 31, 2023 Maximum permitted leverage ratio (1) 3.75 times 2.52 times (1) Ratio of total debt to consolidated EBITDA, as defined by the credit agreements, as amended.
Transfer of Financial Assets Accounted for as Sales [Table Text Block]	Factoring Arrangements As of March 31, 2023 As of December 31, 2022 Amount Weighted Average Amount Weighted Average Euro denominated $ 188 5.5 % $ 161 2.4 % Yen denominated 188 0.5 % 194 0.6 % Renminbi denominated 14 3.0 % 13 3.1 %
Commercial Paper [Member]
Short-term Debt [Line Items]
Schedule of Short-term Debt [Table Text Block]	We had no commercial paper outstanding as of March 31, 2023 or December 31, 2022. In April 2023, we issued commercial paper to partially fund our acquisition of Apollo. As of the date of this Quarterly Report on Form 10-Q, we had approximately $400 million of commercial paper outstanding, which directly reduces our borrowing capacity under the 2021 Revolving Credit Facility.

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Balance Sheet Information [Abstract]
Trade accounts receivable, net [Table Text Block]	As of (in millions) March 31, 2023 December 31, 2022 Trade accounts receivable $ 2,194 $ 2,079 Allowance for credit losses (118) (109) $ 2,076 $ 1,970 Three Months Ended March 31, (in millions) 2023 2022 Beginning balance $ 109 $ 108 Credit loss expense 16 11 Write-offs (6) (5) Ending balance $ 118 $ 113
Inventory Disclosure [Table Text Block]	As of (in millions) March 31, 2023 December 31, 2022 Finished goods $ 1,223 $ 1,171 Work-in-process 176 147 Raw materials 651 548 $ 2,050 $ 1,867
Schedule of Other Current Assets [Table Text Block]	As of (in millions) March 31, 2023 December 31, 2022 Restricted cash and restricted cash equivalents $ 135 $ 149 Derivative assets 187 232 Licensing arrangements 56 60 Other 333 290 $ 711 $ 731
Property, plant and equipment, net [Table Text Block]	As of (in millions) March 31, 2023 December 31, 2022 Land $ 141 $ 137 Buildings and improvements 1,763 1,695 Equipment, furniture and fixtures 3,367 3,297 Capital in progress 567 598 5,837 5,728 Less: accumulated depreciation 3,359 3,282 $ 2,478 $ 2,446
Schedule of Other Assets [Table Text Block]	As of (in millions) March 31, 2023 December 31, 2022 Restricted cash equivalents $ 57 $ 48 Operating lease right-of-use assets 399 386 Derivative assets 133 149 Investments 385 407 Licensing arrangements 57 67 Indemnification asset 170 172 Other 280 271 $ 1,482 $ 1,500
Schedule of Accrued Liabilities [Table Text Block]	As of (in millions) March 31, 2023 December 31, 2022 Legal reserves $ 207 $ 231 Payroll and related liabilities 661 830 Rebates 347 352 Contingent consideration 83 74 Other 620 674 $ 1,918 $ 2,160
Other Current Liabilities [Table Text Block]	As of (in millions) March 31, 2023 December 31, 2022 Deferred revenue $ 231 $ 220 Licensing arrangements 57 79 Taxes payable 281 232 Other 217 230 $ 787 $ 761
Other long-term liabilities [Table Text Block]	As of (in millions) March 31, 2023 December 31, 2022 Accrued income taxes $ 608 $ 597 Legal reserves 209 212 Contingent consideration 10 75 Licensing arrangements 63 80 Operating lease liabilities 360 347 Deferred revenue 290 289 Other 457 434 $ 1,995 $ 2,035

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2023
Schedule of Income Tax Rate Reconciliation [Line Items]
Schedule of Effective Income Tax Rate from Continuing Operations [Table Text Block]	Three Months Ended March 31, 2023 2022 Effective tax rate from continuing operations 29.4 % 29.1 %

Weighted Average Shares Outst_2

Weighted Average Shares Outstanding (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended March 31, (in millions) 2023 2022 Weighted average shares outstanding — basic 1,435.8 1,427.8 Net effect of common stock equivalents 10.2 10.6 Weighted average shares outstanding - diluted 1,446.0 1,438.4
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities were excluded from the calculation of diluted weighted average shares outstanding because their effect in the periods presented below would have been anti-dilutive: Three Months Ended March 31, (in millions) 2023 2022 Stock options outstanding (1) 3 3 MCPS (2) 24 24 (1) Represents stock options outstanding pursuant to our employee stock-based compensation plans with exercise prices that were greater than the average fair market value of our common stock for the related periods. (2) Represents common stock issuable upon the conversion of MCPS. Refer to Note I – Stockholders' Equity for additional information.

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	A reconciliation of the totals reported for the reportable segments to the applicable line items within our accompanying unaudited consolidated statements of operations is as follows (in millions, except percentages). Three Months Ended Net Sales 2023 2022 MedSurg $ 1,252 $ 1,164 Cardiovascular 2,049 1,902 Total net sales of reportable segments 3,301 3,066 Impact of foreign currency fluctuations 88 (40) $ 3,389 $ 3,026 Income (loss) before income taxes MedSurg $ 400 $ 371 Cardiovascular 541 477 Total operating income of reportable segments 940 847 Unallocated amounts: Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments (75) (66) Goodwill and intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits) and EU MDR implementation costs (110) (117) Amortization expense (203) (198) Operating income (loss) 552 466 Other expense, net (108) (310) Income (loss) before income taxes $ 444 $ 156 Three Months Ended March 31, Operating income margin of reportable segments 2023 2022 MedSurg 31.9 % 31.8 % Cardiovascular 26.4 % 25.1 %

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Disaggregation of Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following tables disaggregate our revenue from contracts with customers by component and geographic region (in millions). We allocate revenue from contracts with customers to geographic regions based on the location where the sale originated. Three Months Ended March 31, 2023 2022 Businesses U.S. Int'l Total U.S. Int'l Total Endoscopy $ 351 $ 226 $ 577 $ 312 $ 220 $ 531 Urology 326 143 469 286 127 413 Neuromodulation 172 62 234 161 49 209 MedSurg 850 430 1,280 758 395 1,153 Interventional Cardiology Therapies 183 408 591 186 358 544 Watchman 265 25 291 203 23 226 Cardiac Rhythm Management 345 203 548 325 195 519 Electrophysiology 85 91 177 50 68 118 Cardiology 879 727 1,606 764 644 1,407 Peripheral Interventions 275 229 503 256 210 465 Cardiovascular 1,154 956 2,110 1,019 853 1,873 Total Net Sales $ 2,003 $ 1,386 $ 3,389 $ 1,778 $ 1,248 $ 3,026 Refer to Note K- Segment Reporting for information on our reportable segments. Three Months Ended March 31, Geographic Regions 2023 2022 U.S. $ 2,003 $ 1,778 Europe, Middle East and Africa 712 624 Asia-Pacific 548 517 Latin America and Canada 126 107 Total Net Sales $ 3,389 $ 3,026 Emerging Markets (1) $ 529 $ 440

Changes in Other Comprehensiv_2

Changes in Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2023
Other Comprehensive Income (Loss), Net of Tax, Period Change [Abstract]
Changes in Other Comprehensive Income [Table Text Block]	The following tables provide the reclassifications out of Other comprehensive income (loss), net of tax : (in millions) Foreign Currency Translation Adjustments Net Change in Derivative Financial Instruments Net Change in Defined Benefit Pensions and Other Items Total Balance as of December 31, 2022 $ (1) $ 269 $ 1 $ 269 Other comprehensive income (loss) before reclassifications (40) 10 (5) (35) (Income) loss amounts reclassified from accumulated other comprehensive income (2) (53) (0) (56) Total other comprehensive income (loss) (42) (43) (5) (91) Balance as of March 31, 2023 $ (43) $ 225 $ (4) $ 178 (in millions) Foreign Currency Translation Adjustments Net Change in Derivative Financial Instruments Net Change in Defined Benefit Pensions and Other Items Total Balance as of December 31, 2021 $ 93 $ 206 $ (36) $ 263 Other comprehensive income (loss) before reclassifications (63) 35 0 (27) (Income) loss amounts reclassified from accumulated other comprehensive income (2) (12) 0 (14) Total other comprehensive income (loss) (64) 23 0 (41) Balance as of March 31, 2022 $ 29 $ 229 $ (36) $ 222

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2023 reportablesegments
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) $ / shares in Units, $ in Millions				3 Months Ended
	Apr. 04, 2023 USD ($) $ / shares	Feb. 20, 2023 USD ($)	Feb. 20, 2023 KRW (₩)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired				$ 375	$ 1,471
Business Combination, Contingent Consideration, Liability				93		$ 149
Goodwill				13,269		12,920
Accrued income taxes				608		597
Payment of contingent consideration				68
Cash				400		$ 256
Acotec
Business Acquisition [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		35%
Apollo | Subsequent Event [Member]
Business Acquisition [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	$ 615
Business Acquisition, Percentage of Voting Interests Acquired	100%
Business Acquisition, Share Price | $ / shares	$ 10
Baylis Medical
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired				1,463
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination				1,463
Goodwill				988
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				657
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets				112
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities				(287)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities				(7)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				657
Baylis Medical | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				$ 622
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				11 years
Baylis Medical | Weighted Average [Member] | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Discount Rate, Fair Value Input				11%
Acotec
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired				$ 375
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value		$ 519	₩ 20
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination				375
Goodwill				336
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets				61
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities				(23)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities				(74)
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value				(259)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				334
Business Acquisition, Percentage of Voting Interests Acquired		65%
Cash		$ 140
Acotec | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				$ 308
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				11 years
Acotec | Other Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				$ 11
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				13 years
Acotec | Customer Relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				$ 15
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				11 years
Acotec | Weighted Average [Member] | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Discount Rate, Fair Value Input				14%
Acotec | Weighted Average [Member] | Other Intangible Assets [Member]
Business Acquisition [Line Items]
Discount Rate, Fair Value Input				14%
Acotec | Weighted Average [Member] | Customer Relationships
Business Acquisition [Line Items]
Discount Rate, Fair Value Input				14%

Contingent Consideration (Detai

Contingent Consideration (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Business Combination, Contingent Consideration, Liability Beginning Balance	$ 149
Contingent consideration net expense (benefit)	12	$ 12
Payment of contingent consideration	(68)
Business Combination, Contingent Consideration, Liability Ending Balance	93
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Business Combination, Contingent Consideration, Liability	93
All Business Acquisitions
Business Combination, Contingent Consideration Arrangements [Abstract]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	359
Valuation Technique, Discounted Cash Flow [Member] | R&D, Regulatory and Commercialization-based Milestone [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Business Combination, Contingent Consideration, Liability Ending Balance	13
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Business Combination, Contingent Consideration, Liability	13
Valuation Technique, Discounted Cash Flow [Member] | revenue-based payments [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Business Combination, Contingent Consideration, Liability Ending Balance	80
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Business Combination, Contingent Consideration, Liability	$ 80
contingent consideration liability, probability of payment	100%
Minimum [Member] | Valuation Technique, Discounted Cash Flow [Member] | R&D, Regulatory and Commercialization-based Milestone [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
contingent consideration liability, probability of payment	10%
Discount Rate, Fair Value Input	1%
Minimum [Member] | Valuation Technique, Discounted Cash Flow [Member] | revenue-based payments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Discount Rate, Fair Value Input	6%
Maximum [Member] | Valuation Technique, Discounted Cash Flow [Member] | R&D, Regulatory and Commercialization-based Milestone [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
contingent consideration liability, probability of payment	25%
Discount Rate, Fair Value Input	2%
Maximum [Member] | Valuation Technique, Discounted Cash Flow [Member] | revenue-based payments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Discount Rate, Fair Value Input	14%
Weighted Average [Member] | Valuation Technique, Discounted Cash Flow [Member] | R&D, Regulatory and Commercialization-based Milestone [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
contingent consideration liability, probability of payment	22%
Discount Rate, Fair Value Input	2%
Weighted Average [Member] | Valuation Technique, Discounted Cash Flow [Member] | revenue-based payments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
contingent consideration liability, probability of payment	100%
Discount Rate, Fair Value Input	7%

Strategic Investments (Details)

Strategic Investments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Equity method investments	$ 166	$ 188
Measurement alternative investments(1, 2)	219	219
Investments	385	$ 407
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity	$ 209

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) reportablesegments	Dec. 31, 2022 USD ($)
Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	$ 15,185	$ 14,843
Finite-Lived Intangible Assets, Accumulated Amortization	(9,357)	(9,173)
Indefinite-lived Intangible Assets (Excluding Goodwill)	232	232
Goodwill [Roll Forward]
Goodwill Beginning Balance	12,920
Goodwill, Translation and Purchase Accounting Adjustments	13
Goodwill, Acquired During Period	336
Goodwill Ending Balance	$ 13,269
Number of reportable segments | reportablesegments	2
MedSurg [Member]
Goodwill [Roll Forward]
Goodwill Beginning Balance	$ 4,237
Goodwill, Translation and Purchase Accounting Adjustments	0
Goodwill, Acquired During Period	0
Goodwill Ending Balance	4,237
Cardiovascular [Member]
Goodwill [Roll Forward]
Goodwill Beginning Balance	8,684
Goodwill, Translation and Purchase Accounting Adjustments	13
Goodwill, Acquired During Period	336
Goodwill Ending Balance	9,032
Goodwill [Member]
Intangible Assets and Goodwill [Line Items]
Goodwill, Gross	23,169	22,820
Goodwill, Impaired, Accumulated Impairment Loss	(9,900)	(9,900)
In Process Research and Development [Member]
Intangible Assets and Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	112	112
Technology-Based Intangible Assets [Member]
Intangible Assets and Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	120	120
Technology-Based Intangible Assets [Member]
Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	12,707	12,397
Finite-Lived Intangible Assets, Accumulated Amortization	(7,553)	(7,378)
Patents [Member]
Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	473	486
Finite-Lived Intangible Assets, Accumulated Amortization	(381)	(394)
Other Intangible Assets [Member]
Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	2,005	1,960
Finite-Lived Intangible Assets, Accumulated Amortization	$ (1,422)	$ (1,400)

Hedging Activities and Fair V_3

Hedging Activities and Fair Value Measurements (Details) € in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) derivative_instrument units	Mar. 31, 2022 USD ($)	Mar. 31, 2023 EUR (€) derivative_instrument units	Dec. 31, 2022 USD ($) derivative_instrument	Dec. 31, 2021 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	$ 225,000,000	$ 229,000,000		$ 269,000,000	$ 206,000,000
Derivative, Notional Amount	7,657,000,000			8,321,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	10,000,000	35,000,000
Cost of Goods and Services Sold	1,040,000,000	955,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	53,000,000	12,000,000
Interest Expense	65,000,000	279,000,000
Other Operating Income (Expense), Net	43,000,000	31,000,000
Derivative Asset, Fair Value, Gross Asset	319,000,000			381,000,000
Derivative Liability, Fair Value, Gross Liability	1,009,000,000			1,005,000,000
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	133,000,000			149,000,000
Licensing arrangements, asset	57,000,000			67,000,000
Business Combination, Contingent Consideration, Liability	93,000,000			149,000,000
Licensing arrangements, liability	63,000,000			80,000,000
Cash	400,000,000			256,000,000
Non-cash impact of transferred royalty rights	(9,000,000)	(19,000,000)
Debt Instrument, Fair Value Disclosure	8,467,000,000			8,203,000,000
Accumulated Foreign Currency Adjustment Attributable to Parent
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	0	0
December 2027 Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Long-term Debt	$ 979,000,000		€ 900	960,000,000
Debt Instrument, Interest Rate, Stated Percentage	0.625%		0.625%
Licensing arrangement assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	15%		15%
Proceeds from Royalties Received	$ (18,000,000)
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option	4,000,000
Licensing arrangement liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments for Royalties	(43,000,000)
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option	5,000,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Licensing arrangements, asset	113,000,000
Licensing arrangements, liability	120,000,000
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	170,000,000			673,000,000
Equity Securities, FV-NI	2,000,000			2,000,000
Derivative Asset	319,000,000			381,000,000
Licensing arrangements, asset	113,000,000			127,000,000
Assets, Fair Value Disclosure	604,000,000			1,182,000,000
Derivative Liability	1,009,000,000			1,005,000,000
Business Combination, Contingent Consideration, Liability	93,000,000			149,000,000
Licensing arrangements, liability	120,000,000			159,000,000
Financial and Nonfinancial Liabilities, Fair Value Disclosure	1,222,000,000			1,313,000,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	170,000,000			673,000,000
Equity Securities, FV-NI	2,000,000			2,000,000
Derivative Asset	0			0
Licensing arrangements, asset	0			0
Assets, Fair Value Disclosure	172,000,000			674,000,000
Derivative Liability	0			0
Business Combination, Contingent Consideration, Liability	0			0
Licensing arrangements, liability	0			0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0			0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	0			0
Equity Securities, FV-NI	0			0
Derivative Asset	319,000,000			381,000,000
Licensing arrangements, asset	0			0
Assets, Fair Value Disclosure	319,000,000			381,000,000
Derivative Liability	1,009,000,000			1,005,000,000
Business Combination, Contingent Consideration, Liability	0			0
Licensing arrangements, liability	0			0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	1,009,000,000			1,005,000,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	0			0
Equity Securities, FV-NI	0			0
Derivative Asset	0			0
Licensing arrangements, asset	113,000,000			127,000,000
Assets, Fair Value Disclosure	113,000,000			127,000,000
Derivative Liability	0			0
Business Combination, Contingent Consideration, Liability	93,000,000			149,000,000
Licensing arrangements, liability	120,000,000			159,000,000
Financial and Nonfinancial Liabilities, Fair Value Disclosure	213,000,000			308,000,000
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Assets, at Fair Value	299,000,000			345,000,000
Derivative Instruments in Hedges, Liabilities, at Fair Value	972,000,000			953,000,000
Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Liabilities, at Fair Value	$ 971,000,000			952,000,000
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Forward Currency Contracts, Time to Maturity | units	36		36
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Assets, at Fair Value	$ 168,000,000			196,000,000
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Assets, at Fair Value	132,000,000			149,000,000
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Liabilities, at Fair Value	0			1,000,000
Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	(8,000,000)	(29,000,000)
Foreign Currency Transaction Gain (Loss), before Tax	(6,000,000)	21,000,000
Net currency exchange gain (loss)	(14,000,000)	(9,000,000)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	3,623,000,000			4,235,000,000
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	19,000,000			36,000,000
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Current Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	$ 37,000,000			$ 52,000,000
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Term of Contract (less than)	1 year
Derivative, Remaining Maturity	1 year
Weighted Average [Member] | Licensing arrangement assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	15%		15%
Weighted Average [Member] | Licensing arrangement liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	13%		13%
Minimum [Member] | Licensing arrangement liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	12%		12%
Maximum [Member] | Licensing arrangement liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	15%		15%
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ 189,000,000
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	$ (3,000,000)
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Number of Interest Rate Derivatives Held | derivative_instrument	0		0	0
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	$ 2,673,000,000			$ 2,725,000,000
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	13,000,000	45,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(3,000,000)	(10,000,000)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	10,000,000	35,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(69,000,000)	(30,000,000)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	16,000,000	7,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(54,000,000)	(23,000,000)
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	1,000,000	14,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	0	(3,000,000)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	1,000,000	11,000,000
Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Used in Net Investment Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	9,000,000
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	365,000,000			365,000,000
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	6,000,000	15,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, Tax	(1,000,000)	(3,000,000)
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, after Tax	4,000,000	11,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, before Tax	(3,000,000)	(2,000,000)
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, Tax	1,000,000	0
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, after Tax	(2,000,000)	(2,000,000)
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | foreign currency denominated in debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	997,000,000			$ 997,000,000
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | foreign currency denominated in debt [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(19,000,000)	24,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, Tax	4,000,000	(5,000,000)
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, after Tax	(14,000,000)	18,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, before Tax	0	0
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, Tax	0	0
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, after Tax	$ 0	$ 0

Contractual Obligations and C_3

Contractual Obligations and Commitments (Details) € in Millions		3 Months Ended		12 Months Ended
	May 10, 2021 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2023	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 Rate
Debt Instrument [Line Items]
Total debt		$ 9,005,000,000		$ 8,935,000,000
Debt, Current		510,000,000		20,000,000
Long-term Debt and Capital Lease Obligations		8,495,000,000		8,915,000,000
Exclusion from EBITDA for Restructuring Charges		500,000,000
Restructuring charges remaining to be excluded from calculation of consolidated EBITDA		457,000,000
Litigation and Debt Exclusion from EBITDA		1,443,000,000
Legal payments remaining to be excluded from calculation of consolidated EBITDA		1,424,000,000
Letters of Credit Outstanding, Amount		143,000,000		135,000,000
Qualified Acquisition Consideration		1,000,000,000
Gain (Loss) on Extinguishment of Debt		0	$ 194,000,000
Proceeds from Issuance of Senior Long-Term Debt		0	$ 3,271,000,000
Supplier Finance Program Obligation. current		128,000,000		129,000,000
Litigation payment exclusion from EBITDA		1,000,000,000
Proceeds from Issuance of Senior Long-Term Debt				3,270,000,000
Licensing arrangement assets [Member]
Debt Instrument [Line Items]
Proceeds from Royalties Received		18,000,000
Licensing arrangement liabilities [Member]
Debt Instrument [Line Items]
Payments for Royalties		43,000,000
Commercial Paper [Member]
Debt Instrument [Line Items]
Commercial Paper		400,000,000
Current Requirement [Member]
Debt Instrument [Line Items]
Maximum Leverage Ratio					3.75
Actual, Covenant [Member]
Debt Instrument [Line Items]
Maximum Leverage Ratio					2.52
Requirement, as of December 31, 2021 and through remaining term of facility
Debt Instrument [Line Items]
Maximum Leverage Ratio					3.75
Requirement, four succeeding quarters following qualified acquisition
Debt Instrument [Line Items]
Maximum Leverage Ratio					4.75
Requirement, fifth quarter following qualified acquisition [Member]
Debt Instrument [Line Items]
Maximum Leverage Ratio					4.50
Requirement, sixth quarter following qualified acquisition
Debt Instrument [Line Items]
Maximum Leverage Ratio					4.25
Requirement, seventh quarter following qualified acquisition
Debt Instrument [Line Items]
Maximum Leverage Ratio					4
Requirement, eighth quarter following qualified acquisition and through remaining term of facility
Debt Instrument [Line Items]
Maximum Leverage Ratio					3.75
the 2018 Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt				0
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,750,000,000
March 2024 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		0		504,000,000
Debt Instrument, Interest Rate, Stated Percentage					3.45%
June 2025 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		500,000,000		500,000,000
Debt Instrument, Interest Rate, Stated Percentage					1.90%
March 2026 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		255,000,000		255,000,000
Debt Instrument, Interest Rate, Stated Percentage					3.75%
December 2027 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		979,000,000		960,000,000		€ 900
Debt Instrument, Interest Rate, Stated Percentage					0.625%
March 2028 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		344,000,000		344,000,000
Debt Instrument, Interest Rate, Stated Percentage					4%
March 2029 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		272,000,000		272,000,000
Debt Instrument, Interest Rate, Stated Percentage					4%
June 2030 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		1,200,000,000		1,200,000,000
Debt Instrument, Interest Rate, Stated Percentage					2.65%
November 2035 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		350,000,000		350,000,000
Debt Instrument, Interest Rate, Stated Percentage					6.75%
March 2039 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		450,000,000		450,000,000
Debt Instrument, Interest Rate, Stated Percentage					4.55%
January 2040 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		300,000,000		300,000,000
Debt Instrument, Interest Rate, Stated Percentage					7.375%
March 2049 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		650,000,000		650,000,000
Debt Instrument, Interest Rate, Stated Percentage					4.70%
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		9,067,000,000		8,986,000,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net		(73,000,000)		(76,000,000)
Finance Lease Obligation
Debt Instrument [Line Items]
Long-term Debt		5,000,000		5,000,000
March 2025 Notes
Debt Instrument [Line Items]
Long-term Debt		1,088,000,000		1,067,000,000		1,000
Debt Instrument, Interest Rate, Stated Percentage					0.75%		0.75%
March 2028 Senior Notes
Debt Instrument [Line Items]
Long-term Debt		816,000,000		800,000,000		750
Debt Instrument, Interest Rate, Stated Percentage					1.375%		1.375%
March 2031 Notes
Debt Instrument [Line Items]
Long-term Debt		816,000,000		800,000,000		750
Debt Instrument, Interest Rate, Stated Percentage					1.625%		1.625%
March 2034 Notes
Debt Instrument [Line Items]
Long-term Debt		544,000,000		534,000,000		500
Debt Instrument, Interest Rate, Stated Percentage					1.875%		1.875%
the Offering
Debt Instrument [Line Items]
Long-term Debt | €						€ 3,000
the Offering - early redemption of combined aggregate principal SN
Debt Instrument [Line Items]
Long-term Debt		3,275,000,000
2021 Revolving Credit Facility | Line of Credit | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt		0
Debt Instrument, Extension Option, Term	1 year
Euro Denominated Factoring Arrangements [Member]
Debt Instrument [Line Items]
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized		$ 188,000,000		$ 161,000,000
Average interest rate of de-recognized receivables		5.50%		2.40%
Yen Denominated Factoring Arrangements [Member]
Debt Instrument [Line Items]
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized		$ 188,000,000		$ 194,000,000
Average interest rate of de-recognized receivables		0.50%		0.60%
Renminbi Denominated Factoring Arrangements [Member]
Debt Instrument [Line Items]
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized		$ 14,000,000		$ 13,000,000
Average interest rate of de-recognized receivables		3%		3.10%

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Line Items]
Cash and Cash Equivalents	$ 570	$ 325	$ 928
Restricted Cash and Cash Equivalents in Other current assets	135	146	149
Restricted Cash Equivalents in Other long-term assets	57	59	48
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	763	529	1,126	$ 2,168
Depreciation	82	76
Trade accounts receivable, net
Accounts receivable	2,194		2,079
Less: allowance for doubtful accounts	(118)		(109)
Trade accounts receivable, net	2,076		1,970
Allowance for doubtful accounts
Beginning balance	109	108
Charges to expenses	16	11
Utilization of allowances	(6)	(5)
Ending balance	118	113
Inventories
Inventory, Finished Goods, Net of Reserves	1,223		1,171
Inventory, Work in Process, Net of Reserves	176		147
Inventory, Raw Materials, Net of Reserves	651		548
Inventories	2,050		1,867
Other Current Assets [Abstract]
Restricted Cash and Cash Equivalents in Other current assets	135	146	149
Derivative Asset, Current	187		232
Licensing arrangements	56		60
Other Assets, Miscellaneous, Current	333		290
Other Assets, Current	711		731
Property, plant and equipment, net
Land	141		137
Buildings and improvements	1,763		1,695
Equipment, furniture and fixtures	3,367		3,297
Capital in progress	567		598
Property, plant and equipment	5,837		5,728
Less: accumulated depreciation	3,359		3,282
Property, plant and equipment, net	2,478		2,446
Supplemental Balance Sheet Information
Depreciation expense	82	76
Other Assets, Noncurrent [Abstract]
Restricted cash equivalents included in Other long-term assets	57	$ 59	48
Operating Lease, Right-of-Use Asset	399		386
Derivative Asset	133		149
Investments	385		407
Licensing arrangements, asset	57		67
Indemnification asset	170		172
Other, Other Long-term Assets	280		271
Other Assets, Noncurrent	1,482		1,500
Accrued expenses
Legal reserves, current	207		231
Payroll and related liabilities	661		830
Accrued Rebates, Current	347		352
Business Combination, Contingent Consideration, Liability, Current	83		74
Other	620		674
Accrued Liabilities, Current	1,918		2,160
Other Liabilities, Current [Abstract]
Deferred Revenue, Current	231		220
Accrued Royalties, Current	57		79
Taxes Payable, Current	281		232
Other Sundry Liabilities, Current	217		230
Other Liabilities, Current	787		761
Other long-term liabilities
Accrued income taxes	608		597
Estimated Litigation Liability, Noncurrent	209		212
Business Combination, Contingent Consideration, Liability, Noncurrent	10		75
Licensing arrangements, liability	63		80
Operating Lease, Liability, Noncurrent	360		347
Deferred Revenue	290		289
Other Accrued Liabilities, Noncurrent	457		434
Other long-term liabilities	$ 1,995		$ 2,035

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective tax rate from continuing operations	29.40%	29.10%
Unrecognized Tax Benefits	$ 501		$ 492
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	415		$ 410
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 77

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jan. 31, 2023 USD ($)	Mar. 31, 2023 USD ($) units	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Accrual for legal matters that are probable and estimable		$ 416	$ 443
Restricted Cash and Cash Equivalents in Other current assets		$ 135	$ 149	$ 146
Brazil CADE - # of individuals for alleged anti-competitive behavior | units		29
Litigation Settlement, Amount Awarded to Other Party	$ 42

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended
	Apr. 24, 2023	May 27, 2020	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred Stock, Shares Authorized			50,000,000	50,000,000
Preferred Stock, Shares Issued			10,062,500	10,062,500
5.50% MCPS, Series A [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Issued		10,062,500
Net proceeds from issuance of preferred stock in connection with public offering		$ 975
Preferred Stock, Dividend Rate, Percentage		5.50%
Preferred Stock, Liquidation Preference Per Share		$ 100
Preferred Stock, Liquidation Preference, Value			$ 1,006
Preferred Stock, Dividends, Per Share, Cash Paid			$ 1.375
5.50% MCPS, Series A [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared	$ 1.375

Weighted Average Shares Outst_3

Weighted Average Shares Outstanding (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 14, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	1,435,800	1,427,800
Weighted Average Number Diluted Shares Outstanding Adjustment	10,200	10,600
Weighted Average Number of Shares Outstanding, Diluted	1,446,000	1,438,400
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	4,000,000,000	4,000,000,000
Stock Repurchase Program, Authorized Amount			$ 1,000
Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,000	3,000
5.50% MCPS, Series A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	24,000	24,000

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) reportablesegments	Mar. 31, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | reportablesegments	2
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Amortization expense	$ (203)	$ (198)
Operating income (loss)	552	466
Other expense, net	(108)	(310)
Income (loss) before income taxes	444	156
Impact of Foreign Currency Fluctuations on Net Sales	88	(40)
Net sales	3,389	3,026
MedSurg [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating Income Allocated to Reportable Segments	400	371
Revenues from contracts with customers, disaggregated - performance measurement	$ 1,252	$ 1,164
Segment operating income as percentage of net sales	31.90%	31.80%
Net sales	$ 1,280	$ 1,153
Cardiovascular [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating Income Allocated to Reportable Segments	541	477
Revenues from contracts with customers, disaggregated - performance measurement	$ 2,049	$ 1,902
Segment operating income as percentage of net sales	26.40%	25.10%
Net sales	$ 2,110	$ 1,873
BSX Reportable Segments [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Revenues from contracts with customers, disaggregated - performance measurement	3,301	3,066
Total allocated to reportable segments [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating income (loss)	940	847
Corporate expenses and currency exchange [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating Income Unallocated to Segment	(75)	(66)
Goodwill and other intangible asset impairment charges, acquisition/divestiture-related net (charges) credits, restructuring- and restructuring-related net (charges) credits, EU MDR implementation costs and litigation-related net (charges) credits
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating Income Unallocated to Segment	$ (110)	$ (117)

Revenue (Details)

Revenue (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) business	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 3,389	$ 3,026
Net sales	$ 3,389	3,026
Number Of Businesses | business	5
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability	$ 521		$ 509
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	42
United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,003	1,778
Net sales	2,003	1,778
International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,386	1,248
Net sales	1,386	1,248
Emerging Markets [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	529	440
Net sales	529	440
Endoscopy [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	577	531
Net sales	577	531
Endoscopy [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	351	312
Net sales	351	312
Endoscopy [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	226	220
Net sales	226	220
Urology [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	469	413
Net sales	469	413
Urology [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	326	286
Net sales	326	286
Urology [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	143	127
Net sales	143	127
Neuromodulation [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	234	209
Net sales	234	209
Neuromodulation [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	172	161
Net sales	172	161
Neuromodulation [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	62	49
Net sales	62	49
Interventional Cardiology Therapies
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	591	544
Net sales	591	544
Interventional Cardiology Therapies | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	183	186
Net sales	183	186
Interventional Cardiology Therapies | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	408	358
Net sales	408	358
Watchman
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	291	226
Net sales	291	226
Watchman | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	265	203
Net sales	265	203
Watchman | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	25	23
Net sales	25	23
Cardiac Rhythm Management [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	548	519
Net sales	548	519
Cardiac Rhythm Management [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	345	325
Net sales	345	325
Cardiac Rhythm Management [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	203	195
Net sales	203	195
Electrophysiology [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	177	118
Net sales	177	118
Electrophysiology [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	85	50
Net sales	85	50
Electrophysiology [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	91	68
Net sales	91	68
Cardiology [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,606	1,407
Net sales	1,606	1,407
Cardiology [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	879	764
Net sales	879	764
Cardiology [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	727	644
Net sales	727	644
Peripheral Interventions [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	503	465
Net sales	503	465
Peripheral Interventions [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	275	256
Net sales	275	256
Peripheral Interventions [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	229	210
Net sales	229	210
BSX Reportable Segments [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,003	1,778
Net sales	2,003	1,778
BSX Reportable Segments [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	712	624
Net sales	712	624
BSX Reportable Segments [Member] | APAC [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	548	517
Net sales	548	517
BSX Reportable Segments [Member] | Latin America and Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	126	107
Net sales	126	107
MedSurg [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,280	1,153
Net sales	1,280	1,153
MedSurg [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	850	758
Net sales	850	758
MedSurg [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	430	395
Net sales	430	395
Cardiovascular [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,110	1,873
Net sales	2,110	1,873
Cardiovascular [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,154	1,019
Net sales	1,154	1,019
Cardiovascular [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	956	853
Net sales	$ 956	$ 853

Changes in Other Comprehensiv_3

Changes in Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	$ (35)	$ (27)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(56)	(14)
Other comprehensive income (loss)	(91)	(41)
Accumulated Other Comprehensive Income (Loss), Net of Tax	178	222	$ 269	$ 263
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(40)	(63)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	(2)	(2)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(42)	(64)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	(43)	29	(1)	93
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	10	35
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(53)	(12)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(43)	23
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	225	229	269	206
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax	(5)	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	0	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	(5)	0
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	$ (4)	$ (36)	$ 1	$ (36)