Company: BSX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000885725-25-000026
Chunk: 27

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS

BOSTON SCIENTIFIC CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

Three Months Ended March 31,(in millions, except per share data)20252024Net sales$4,663 $3,856 Cost of products sold1,453 1,209 Gross profit3,210 2,648 Operating expenses:Selling, general and administrative expenses1,597 1,364 Research and development expenses443 366 Royalty expense14 10 Amortization expense219 214 Contingent consideration net expense (benefit)5 17 Restructuring net charges (credits)10 3  2,288 1,973 Operating income (loss)921 675 Other income (expense):Interest expense(82)(69)Other, net(34)2 Income (loss) before income taxes805 608 Income tax expense (benefit)133 115 Net income (loss)672 493 Net income (loss) attributable to noncontrolling interests(2)(1)Net income (loss) attributable to Boston Scientific common stockholders$674 $495 Net income (loss) per common share — basic$0.46 $0.34 Net income (loss) per common share — diluted$0.45 $0.33 Weighted-average shares outstandingBasic1,477.2 1,468.4 Diluted1,493.1 1,481.7 

Refer to notes to the unaudited consolidated financial statements. Amounts may not add due to rounding.

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BOSTON SCIENTIFIC CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

Three Months Ended March 31,(in millions)20252024Net income (loss)$672 $493 Other comprehensive income (loss), net of tax:Foreign currency translation adjustment(214)57 Net change in derivative financial instruments(86)22 Net change in defined benefit pensions and other items(0)(0)Other comprehensive income (loss)(300)78 Comprehensive income (loss)$372 $572 Net income (loss) attributable to noncontrolling interests(2)(1)Other comprehensive income (loss) attributable