Company: BSX
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000885725-25-000011
Chunk: 169

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 169
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ensation-related(0.1)%0.5 %0.6 %Non-deductible expenses0.6 %0.4 %0.4 %Uncertain tax positions1.3 %(0.5)%7.7 %Return to provision0.5 %(0.1)%(2.1)%Change in tax rates0.1 %(0.6)%(0.2)%Other, net(0.2)%0.0 %0.7 %Reported tax rate19.1 %19.8 %38.9 %

102

Significant components of our deferred tax assets and liabilities are as follows: As of December 31, (in millions)20242023 Deferred Tax Assets: Inventory costs and related reserves$15 $30 Tax benefit of net operating losses and credits774 744 Reserves and accruals320 305 Restructuring-related charges12 14 Litigation and product liability reserves79 88 Investment write-down73 58 Compensation related186 154 Federal benefit of uncertain tax positions25 11 Intangible assets3,059 3,394 Capitalized R&D329 232 Operating lease liabilities117 —  4,990 5,029 Less: valuation allowance(1,268)(1,220) 3,722 3,809  Deferred Tax Liabilities:  Property, plant and equipment29 24 Unrealized gains and losses on derivative financial instruments81 66 Operating right-of-use asset111 — Other1 12 222 102  Net Deferred Tax Assets3,500 3,707 Prepaid on intercompany profit307 315  Net Deferred Tax Assets and Prepaid on Intercompany Profit$3,807 $4,022 Our deferred tax assets, deferred tax liabilities and prepaid on intercompany profit are included in the following locations within our accompanying consolidated balance sheets (in millions):Location on Consolidated Balance SheetsAs of December 31,Component20242023Prepaid on intercompany profitPrepaid income taxes$307 $315 Non-current deferred tax assetDeferred tax assets3,655 3,841 Deferred Tax Assets and Prepaid on Intercompany Profit 3,962 4,157 Non-current deferred tax liabilityDeferred tax liabilities155 134 Deferred Tax Liabilities 155 134 Net Deferred Tax