Company: BSX
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000885725-25-000041
Chunk: 47

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 $94 The increase in our balance of goodwill and intangible assets is related primarily to our acquisition of Cortex in the first quarter of 2025, and Bolt Medical, Intera and SoniVie in the second quarter of 2025. The following represents a roll forward of our goodwill balance by reportable segment:(in millions)MedSurgCardiovascularTotalBalance as of December 31, 2024$7,483 $9,606 $17,089 Goodwill acquired— 853 853 Impact of foreign currency fluctuations and purchase price adjustments43 92 134 Balance as of June 30, 2025$7,526 $10,550 $18,076 Goodwill and Other Intangible Asset ImpairmentsWe did not record any goodwill impairment charges in the first six months of 2025 or 2024. We test our goodwill balances in the second quarter of each year as of April 1 for impairment, or more frequently if impairment indicators are present or changes in circumstances suggest an impairment may exist. We assess goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. We identified the following reporting units for purposes of our annual goodwill impairment test: Interventional Cardiology, Rhythm Management, Peripheral Interventions, Endoscopy, Urology and Neuromodulation. Based on the criteria prescribed in FASB ASC Topic 350, Intangibles - Goodwill and Other (FASB ASC Topic 350), we aggregated the Interventional Cardiology Therapies and Watchman components of our Cardiology operating segment into a single Interventional Cardiology reporting unit and aggregated the Cardiac Rhythm Management and Electrophysiology components of our Cardiology operating segment into a single Rhythm Management reporting unit. In the second quarter of 2025, we performed our annual goodwill impairment test utilizing the qualitative approach described in FASB ASC Topic 350 for all reporting units. After assessing the totality of events, it was determined that it was not more likely than not that the fair value of the reporting units was less than their carrying value, and it was not deemed necessary to proceed to the quantitative test. In 2025, we recorded Intangible asset impairment charges of $46 million in the second quarter and first six months of 2025. 

13

In 2024, we recorded Intangible asset impairment charges of $276