Company: BSX
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000885725-25-000041
Chunk: 93

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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 charges of approximately $110 million in the second quarter of 2025. We estimate the majority of the charges were recorded during the second quarter of 2025, and we expect the remaining activity to be substantially complete by the end of 2025.

Pursuant to the 2023 Restructuring Plan and the ACURATE discontinuation, we recorded the following restructuring and restructuring-related charges:

Three Months Ended June 30,Six Months EndedJune 30,(in millions)2025202420252024Restructuring charges(1)$83 $1 $93 $5 Restructuring-related net charges (credits)(2)78 49 117 92 

(1)These charges are recorded in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 420, Exit or Disposal Cost Obligations.

(2)These charges are primarily recorded within Cost of products sold, SG&A Expenses and R&D Expenses.

The following table presents our restructuring reserve balance:

As of(in millions)June 30, 2025December 31, 2024Restructuring reserve balance$101 $26 

Litigation-related Net Charges (Credits)

We record certain legal and product liability charges, credits and costs of defense, which we consider to be unusual or infrequent and significant as Litigation-related net charges (credits) within our accompanying unaudited consolidated financial statements. We did not record any litigation-related net charges (credits) during the second quarter and first six months of 2025 or 2024. All other legal and product liability charges, credits and costs are recorded within SG&A expenses. 

We continue to assess certain litigation and claims to determine the amounts, if any, that management believes will be paid as a result of such claims and litigation, and therefore, additional losses may be accrued and paid in the future, which could materially adversely impact our operating results, cash flows and/or our ability to comply with the financial covenant required by our credit arrangements. Refer to Note H – Commitments and Contingencies to our unaudited consolidated financial statements contained in Part I, Item 1 of this Quarterly Report on Form 10-Q for discussion of our material legal proceedings.

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Interest Expense

The following table provides a summary of our Interest expense and average borrowing rate:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Interest expense (in millions)$(90)$(