Company: BSX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000885725-25-000026
Chunk: 114

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 114
---
927 1,288 Rebates519 494 Contingent consideration114 63 Other657 751  $2,354 $2,773 Other current liabilities As of(in millions)March 31, 2025December 31, 2024Deferred revenue$306 $306 Taxes payable315 268 Other302 313  $923 $887 Other long-term liabilities As of(in millions)March 31, 2025December 31, 2024Legal reserves$180 $149 Accrued income taxes361 357 Contingent consideration100 108 Operating lease liabilities399 401 Deferred revenue335 329 Other572 527  $1,946 $1,870 

23

NOTE G – INCOME TAXES The following table provides a reconciliation of our reported tax rate to the rate from continuing operations:Three Months Ended March 31,20252024Reported tax rate16.5 %18.9 %Impact of certain receipts/charges(1)1.5 %(0.3)%Rate from continuing operations18.0 %18.6 %(1)These receipts/charges are taxed at different rates than our rate from continuing operations.Our reported tax rate is affected by recurring items such as the amount of our earnings subject to differing tax rates in foreign jurisdictions and the impact of certain receipts and charges that are taxed at rates that differ from our rate from continuing operations. In the first quarter of 2025, the principal reasons for the difference between the rate from continuing operations and our reported tax rate relates to certain acquisition-related net charges, and discrete tax benefits primarily related to stock-based compensation. In the first quarter of 2024, the principal reasons for the difference between the rate from continuing operations and our reported tax rate relates to certain acquisition-related net charges, and certain discrete tax benefits primarily related to unrecognized tax benefits and stock-based compensation.As of March 31, 2025, we had $514 million of gross unrecognized tax benefits, of which a net $431 million, if recognized, would affect our effective tax rate. As of December 31, 2024, we had $506 million of gross unrecognized tax benefits, of which a net $423 million, if recognized, would affect our effective tax rate. The change in gross unrecognized tax benefit is primarily related to current year accruals for reserves.

NOTE H – COMMITMENTS AND CONTINGENCIES