Company: BSX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000885725-25-000026
Chunk: 122

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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 sales, cost of goods sold, selling, general and administrative expenses, research and development expenses, operating income, excluding intersegment profits, and operating income as a percentage of net sales, all based on internally-derived standard currency exchange rates to exclude the impact of foreign currency, which may be updated from year to year. We exclude from segment expenses and segment operating income certain corporate-related expenses and certain transactions or adjustments that our 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), certain litigation-related net charges (credits) and European Union (EU) Medical Device Regulation (MDR) implementation costs. Although we exclude these amounts from segment expenses and segment operating income 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. The CODM uses segment operating income in the budget and forecasting process and to monitor budget versus actual results, which are used in assessing the performance of the reportable segments and to allocate resources across our reportable segments Refer to Note K – Revenue for net sales by reportable segment presented in accordance with GAAP.A reconciliation of sales and operating income for the reportable segments to the applicable line items within our accompanying unaudited consolidated statements of operations is as follows (in millions, except percentages). Prior period amounts have been restated at constant currency to conform to current year presentation. Three Months Ended March 31, 2025MedSurg% of net salesCardiovascular% of net salesTotalNet sales of reportable segments$1,598 $3,133 $4,731 Impact of foreign currency fluctuations(69)Total net sales4,663 Segment expenses:Cost of products sold435 27.2 %925 29.5 %1,360 Selling, general and administrative expenses509 31.8 %867 27.7 %1,376 Research and development expenses121 7.5 %282 9.0 %403 Other segment items(1)6 0.3 %6 0.2 %11 Segment operating income(2)528 33.1 %1,053 33.6 %1,582 Unallocated amounts:Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable