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Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE
NOTE K – 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. In the fourth quarter of 2025, we reorganized our business structure into four operating segments. The following tables disaggregate our revenue from contracts with customers by business unit and geographic region (in millions). Generally, we allocate revenue from contracts with customers to geographic regions based on the location where the sale originated. We have revised prior periods to conform to current year presentation.

Three Months Ended June 30,
20262025
BusinessesU.S.Int'lTotalU.S.Int'lTotal
Endoscopy$491 $303 $793 $456 $281 $737 
Urology503 181 684 499 178 676 
Neuromodulation257 84 341 228 75 303 
MedSurg1,251 567 1,818 1,183 534 1,716 
Interventional Cardiology & Vascular Therapies586 746 1,333 499 679 1,178 
Watchman459 48 507 446 40 486 
Electrophysiology606 310 916 587 252 840 
Cardiac Rhythm Management349 236 585 355 235 590 
Interventional Oncology & Embolization175 108 283 155 96 251 
Cardiovascular2,175 1,449 3,624 2,042 1,303 3,345 
Total Net Sales$3,426 $2,017 $5,442 $3,224 $1,837 $5,061 
Six Months Ended June 30,
20262025
BusinessesU.S.Int'lTotalU.S.Int'lTotal
Endoscopy$937 $593 $1,529 $876 $534 $1,410 
Urology967 363 1,330 967 342 1,310 
Neuromodulation494 166 659 432 142 574 
MedSurg2,398 1,121 3,519 2,275 1,018 3,293 
Interventional Cardiology & Vascular Therapies1,139 1,438 2,577 966 1,337 2,302 
Watchman921 93 1,014 836 75 911 
Electrophysiology1,209 612 1,821 1,099 472 1,570 
Cardiac Rhythm Management698 465 1,163 713 455 1,168 
Interventional Oncology & Embolization344 207 551 296 183 479 
Cardiovascular4,311 2,815 7,126 3,909 2,521 6,430 
Total Net Sales$6,709 $3,936 $10,646 $6,185 $3,539 $9,724 
Refer to Note J – Segment Reporting for information on our reportable segments.

Three Months Ended June 30,Six Months Ended June 30,
Geographic Regions2026202520262025
U.S.$3,426 $3,224 $6,709 $6,185 
Europe, Middle East and Africa932 878 1,864 1,725 
Asia-Pacific878 790 1,682 1,491 
Latin America and Canada206 169 391 324 
Total Net Sales$5,442 $5,061 $10,646 $9,724 

Deferred Revenue

Contract liabilities are classified as Other current liabilities and Other long-term liabilities within our accompanying unaudited consolidated balance sheets. Our deferred revenue balance was $691 million as of June 30, 2026 and $682 million as of December 31, 2025. Our contract liabilities are primarily composed of deferred revenue related to the LATITUDE™ Patient Management System within our Cardiovascular business, for which revenue is recognized over the average service period based on device and patient longevity. Our contract liabilities also include deferred revenue related to the LUX-Dx II+™ Insertable Cardiac Monitor system, also within our Cardiovascular business, for which revenue is recognized over the average service period based on device longevity and usage.

Variable Consideration
For additional information on variable consideration, refer to Note A – Significant Accounting Policies to our audited financial statements contained in Item 8. Financial Statements and Supplementary Data of our most recent Annual Report on Form 10-K.