Company: BSX
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000885725-25-000011
Chunk: 155

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 155
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ized loss positions. In certain instances, we may utilize financial models to measure fair value of our derivative and nonderivative instruments. In doing so, we use inputs that include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, other observable inputs for the asset or liability and inputs derived principally from, or corroborated by, observable market data by correlation or other means. The following are the balances of our derivative and nonderivative assets and liabilities:(in millions)Location on Consolidated Balance Sheets(1)As of December 31,20242023Derivative and Nonderivative Assets:   Designated Hedging Instruments  Forward currency contractsOther current assets$149 $140 Forward currency contractsOther long-term assets79 107   228 246 Non-Designated Hedging Instruments   Forward currency contractsOther current assets156 20 Total Derivative and Nonderivative Assets $384 $266 Derivative and Nonderivative Liabilities:   Designated Hedging Instruments  Forward currency contractsOther current liabilities$1 $15 Forward currency contractsOther long-term liabilities— 9 Foreign currency-denominated debt(2)Long-term debt930 988   931 1,012 Non-Designated Hedging Instruments   Forward currency contractsOther current liabilities59 38 Total Derivative and Nonderivative Liabilities$990 $1,050 (1) We classify derivative and nonderivative assets and liabilities as current when the settlement date of the contract is one year or less.(2) Foreign currency-denominated debt is the €900 million debt principal associated with our December 2027 Notes designated as a net investment hedge. A portion of this notional is subject to de-designation and re-designation based on changes in the underlying hedged item.Recurring Fair Value MeasurementsOn a recurring basis, we measure certain financial assets and financial liabilities at fair value based upon quoted market prices. Where quoted market prices or other observable inputs are not available, we apply valuation techniques to estimate fair value. FASB ASC Topic 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The category of a financial asset or a financial liability within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows:•Level 1 – Inputs to the valuation methodology are quoted market prices