Noncontrolling interests with redemption features, such as put rights, that are not solely within the Company’s control are considered redeemable noncontrolling interests.

On June 1, 2026, the Company completed a transaction under which funds managed by affiliates of Apollo Funds acquired an approximately 13% minority ownership interest in the Company’s Medical‑Surgical Solutions business through an investment of approximately $1.25 billion in the business’s convertible preferred equity. The 13% minority interest is classified as a redeemable noncontrolling interest.

During the three months ended June 30, 2025, the Company recognized redeemable noncontrolling interests of $25 million related to its acquisition of PRISM Vision and $700 million related to its acquisition of Core Ventures. The Company utilized a Monte Carlo simulation model for its periodic valuation of the redeemable noncontrolling interests for both acquisitions.

Redeemable noncontrolling interests are presented outside of stockholders’ deficit in the Company’s Condensed Consolidated Balance Sheet. Refer to Financial Note 2, “Business Acquisitions and Divestitures,” for additional information on the activity discussed above.

Net income attributable to noncontrolling interests primarily includes third-party equity interests in the Company’s consolidated entities, including ClarusONE Sourcing Services LLP, Vantage Oncology Holdings, LLC, and SCRI Oncology, LLC.

The components of the changes in noncontrolling interests and redeemable noncontrolling interests for the three months ended June 30, 2026 and 2025 were as follows:


	Fiscal 2027				Fiscal 2026
(In millions)	Noncontrolling Interests		Redeemable Noncontrolling Interests		Noncontrolling Interests		Redeemable Noncontrolling Interests
Beginning balance	$	395	$	943	$	380	$	—
Net income attributable to noncontrolling interests (1)	35		9		47		—
Adjustment to fair value (2)	—		1		—		—
Adjustment to redemption value in net income attributable to noncontrolling interests (3)	—		374		—		—
Sale of noncontrolling interest in Medical-Surgical Solutions, net	—		1,238		—		—

Payments to noncontrolling interests	(52)		—		(47)		—
Acquisition of PRISM Vision	—		—		—		25
Acquisition of Core Ventures	—		—		—		700
Other	(2)		(2)		(1)		—
Ending balance	$	376	$	2,563	$	379	$	725

(1)Includes allocation of net income attributable to noncontrolling interests and redeemable noncontrolling interests during each respective period.

(3)Includes redemption value adjustments of $293 million and $81 million related to the Medical-Surgical Solutions business and Core Ventures, respectively, for the three months ended June 30, 2026.