| Segment Reporting |
Business Segment Information and Disaggregated Net Sales | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | | | | | | Net Sales (Millions) | | 2026 | | 2025 | | 2026 | | 2025 | | Advanced Wound Care | | $ | 537 | | | $ | 467 | | | $ | 1,034 | | | $ | 915 | | | Infection Prevention and Surgical Solutions | | 836 | | | 750 | | | 1,573 | | | 1,460 | | | MedSurg | | 1,372 | | | 1,218 | | | 2,607 | | | 2,375 | | | Dental Solutions | | 396 | | | 338 | | | 750 | | | 667 | | | Health Information Systems | | 354 | | | 339 | | | 696 | | | 667 | | | Total reportable segment net sales | | 2,122 | | | 1,895 | | | 4,053 | | | 3,709 | | | Purification and Filtration | | — | | | 189 | | | — | | | 369 | | | All Other | | 87 | | | 77 | | | 163 | | | 153 | | | Total net sales | | $ | 2,209 | | | $ | 2,161 | | | $ | 4,216 | | | $ | 4,231 | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | Cost of Sales (Millions) | | 2026 | | 2025 | | 2026 | | 2025 | | MedSurg | | $ | 595 | | | $ | 603 | | | $ | 1,217 | | | $ | 1,151 | | | Dental Solutions | | 124 | | | 113 | | | 243 | | | 231 | | | Health Information Systems | | 82 | | | 91 | | | 162 | | | 179 | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | Operating Expenses (Millions)* | | 2026 | | 2025 | | 2026 | | 2025 | | MedSurg | | $ | 423 | | | $ | 404 | | | $ | 874 | | | $ | 808 | | | Dental Solutions | | 141 | | | 129 | | | 289 | | | 260 | | | Health Information Systems | | 126 | | | 128 | | | 258 | | | 260 | | | * Operating expenses are comprised of selling, general and administrative expenses and research and development expenses as shown on the condensed consolidated statements of income. | | | Three months ended June 30, | | Six months ended June 30, | Operating Performance (Millions) | | 2026 | | 2025 | | 2026 | | 2025 | | MedSurg | | $ | 355 | | | $ | 210 | | | $ | 516 | | | $ | 416 | | | Dental Solutions | | 131 | | | 96 | | | 218 | | | 175 | | | Health Information Systems | | 145 | | | 120 | | | 276 | | | 229 | | | Total reportable segment operating income | | 631 | | | 426 | | | 1,009 | | | 820 | | | Purification and Filtration | | — | | | 43 | | | — | | | 70 | | | All Other | | 19 | | | 8 | | | 30 | | | 19 | | | Amortization expense | | (90) | | | (78) | | | (181) | | | (159) | | | Corporate and Unallocated | | (378) | | | (185) | | | (597) | | | (384) | | | Total operating income | | 181 | | | 214 | | | 262 | | | 367 | | | | | | | | | | | | Interest expense, net | | 64 | | | 103 | | | 125 | | | 207 | | | | | | | | | | | | Other expense/(income), net | | 9 | | | 8 | | | 13 | | | 19 | | | Income before income taxes | | $ | 108 | | | $ | 103 | | | $ | 123 | | | $ | 141 | |
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