STRYKER CORP, 10-K filed on 2/11/2026
Annual Report
v3.25.4
COVER PAGE - USD ($)
12 Months Ended
Dec. 31, 2025
Jan. 31, 2026
Jun. 30, 2025
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-13149    
Entity Registrant Name STRYKER CORP    
Entity Incorporation, State or Country Code MI    
Entity Tax Identification Number 38-1239739    
Entity Address, Address Line One 1941 Stryker Way,    
Entity Address, City or Town Portage,    
Entity Address, State or Province MI    
Entity Address, Postal Zip Code 49002    
City Area Code (269)    
Local Phone Number 385-2600    
Title of 12(g) Security None    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Emerging Growth Company false    
Entity Small Business false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 144,306,436,547
Entity Common Stock, Shares Outstanding   382,688,675  
Documents Incorporated by Reference Portions of the proxy statement to be filed with the U.S. Securities and Exchange Commission relating to the 2026 Annual Meeting of Shareholders (the 2026
proxy statement) are incorporated by reference into Part III.
   
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000310764    
Common Stock, $.10 Par Value      
Entity Information [Line Items]      
Title of 12(b) Security Common Stock, $.10 Par Value    
Trading Symbol SYK    
Security Exchange Name NYSE    
2.125% Notes due 2027      
Entity Information [Line Items]      
Title of 12(b) Security 2.125% Notes due 2027    
Trading Symbol SYK27    
Security Exchange Name NYSE    
3.375% Notes due 2028      
Entity Information [Line Items]      
Title of 12(b) Security 3.375% Notes due 2028    
Trading Symbol SYK28    
Security Exchange Name NYSE    
0.750% Notes due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 0.750% Notes due 2029    
Trading Symbol SYK29    
Security Exchange Name NYSE    
2.625% Notes due 2030      
Entity Information [Line Items]      
Title of 12(b) Security 2.625% Notes due 2030    
Trading Symbol SYK30    
Security Exchange Name NYSE    
1.000% Notes due 2031      
Entity Information [Line Items]      
Title of 12(b) Security 1.000% Notes due 2031    
Trading Symbol SYK31    
Security Exchange Name NYSE    
3.375% Notes due 2032      
Entity Information [Line Items]      
Title of 12(b) Security 3.375% Notes due 2032    
Trading Symbol SYK32    
Security Exchange Name NYSE    
3.625% Notes due 2036      
Entity Information [Line Items]      
Title of 12(b) Security 3.625% Notes due 2036    
Trading Symbol SYK36    
Security Exchange Name NYSE    
v3.25.4
Audit Information
12 Months Ended
Dec. 31, 2025
Auditor Information [Abstract]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location Grand Rapids, Michigan
v3.25.4
Consolidated Statements Of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Net sales $ 25,116 $ 22,595 $ 20,498
Cost of sales 9,051 8,155 7,440
Gross profit 16,065 14,440 13,058
Research, development and engineering expenses 1,623 1,466 1,388
Selling, general and administrative expenses 8,651 7,685 7,111
Amortization of intangible assets 732 623 635
Goodwill and other impairments 170 977 36
Total operating expenses 11,176 10,751 9,170
Operating income 4,889 3,689 3,888
Interest expense (607) (409) (363)
Other income 232 212 148
Earnings before income taxes 4,514 3,492 3,673
Income taxes 1,268 499 508
Net earnings $ 3,246 $ 2,993 $ 3,165
Net earnings per share of common stock:      
Basic net earnings per share of common stock (in dollars per share) $ 8.49 $ 7.86 $ 8.34
Diluted net earnings per share of common stock (in dollars per share) $ 8.40 $ 7.76 $ 8.25
Weighted-average shares outstanding (in millions):      
Basic (in shares) 382.2 381.0 379.6
Effect of dilutive employee stock compensation (in shares) 4.3 4.6 4.1
Diluted (in shares) 386.5 385.6 383.7
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net earnings $ 3,246 $ 2,993 $ 3,165
Other comprehensive income (loss), net of tax      
Marketable securities 0 0 1
Pension plans 66 32 (59)
Unrealized gains (losses) on designated hedges 11 (8) (13)
Financial statement translation (471) 99 (124)
Total other comprehensive income (loss), net of tax (394) 123 (195)
Comprehensive income $ 2,852 $ 3,116 $ 2,970
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 4,011 $ 3,652
Short-term investments 0 750
Marketable securities 89 91
Accounts receivable, less allowance of $216 ($213 in 2024) 4,039 3,987
Inventories:    
Materials and supplies 1,349 1,147
Work in process 415 336
Finished goods 3,546 3,291
Total inventories 5,310 4,774
Prepaid expenses and other current assets 1,306 1,593
Total current assets 14,755 14,847
Property, plant and equipment:    
Land, buildings and improvements 1,793 1,627
Machinery and equipment 5,744 5,056
Total property, plant and equipment 7,537 6,683
Less allowance for depreciation 3,661 3,235
Property, plant and equipment, net 3,876 3,448
Goodwill 19,291 15,855
Other intangibles, net 5,681 4,395
Noncurrent deferred income tax assets 1,098 1,742
Other noncurrent assets 3,143 2,684
Total assets 47,844 42,971
Current liabilities    
Accounts payable 1,799 1,679
Accrued compensation 1,595 1,403
Income taxes 418 539
Dividend payable 337 320
Accrued expenses and other liabilities 2,645 2,266
Current maturities of debt 1,000 1,409
Total current liabilities 7,794 7,616
Long-term debt, excluding current maturities 14,859 12,188
Income taxes 402 349
Other noncurrent liabilities 2,369 2,184
Total liabilities 25,424 22,337
Shareholders' equity    
Common stock, $0.10 par value 38 38
Additional paid-in capital 2,597 2,361
Retained earnings 20,472 18,528
Accumulated other comprehensive loss (687) (293)
Total shareholders' equity 22,420 20,634
Total liabilities & shareholders' equity $ 47,844 $ 42,971
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
v3.25.4
Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Accounts receivable, allowance $ 216 $ 213
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
v3.25.4
Consolidated Statements Of Shareholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2022   $ 38 $ 2,034 $ 14,765 $ (221)
Beginning balance, shares at Dec. 31, 2022   378.7      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock under stock compensation and benefit plans   $ 0 (39)    
Issuance of common stock under stock compensation and benefit plans, shares   1.4      
Share-based compensation     205    
Net earnings $ 3,165     3,165  
Cash dividends declared       (1,159)  
Other comprehensive income (loss) (195)       (195)
Ending balance, shares at Dec. 31, 2023   380.1      
Ending balance at Dec. 31, 2023 18,593 $ 38 2,200 16,771 (416)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock under stock compensation and benefit plans   $ 0 (68)    
Issuance of common stock under stock compensation and benefit plans, shares   1.3      
Share-based compensation     229    
Net earnings 2,993     2,993  
Cash dividends declared       (1,236)  
Other comprehensive income (loss) 123       123
Ending balance, shares at Dec. 31, 2024   381.4      
Ending balance at Dec. 31, 2024 20,634 $ 38 2,361 18,528 (293)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock under stock compensation and benefit plans   $ 0 (7)    
Issuance of common stock under stock compensation and benefit plans, shares   1.1      
Share-based compensation     243    
Net earnings 3,246     3,246  
Cash dividends declared       (1,302)  
Other comprehensive income (loss) (394)        
Ending balance, shares at Dec. 31, 2025   382.5      
Ending balance at Dec. 31, 2025 $ 22,420 $ 38 $ 2,597 $ 20,472 $ (687)
v3.25.4
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net earnings $ 3,246 $ 2,993 $ 3,165
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 461 427 393
Amortization of intangible assets 732 623 635
Goodwill and other impairments 170 977 36
Share-based compensation 243 229 205
Sale of inventory stepped up to fair value at acquisition 173 46 0
Deferred income tax (benefit) expense 392 (370) (206)
Changes in operating assets and liabilities:      
Accounts receivable 127 (321) (175)
Inventories (297) (206) (797)
Accounts payable 94 192 77
Accrued expenses and other liabilities 318 74 516
Income taxes (145) (116) (4)
Other, net (470) (306) (134)
Net cash provided by operating activities 5,044 4,242 3,711
Investing activities      
Acquisitions, net of cash acquired (4,960) (1,628) (390)
Proceeds/(Purchases) of short-term investments 750 (750) 0
Purchases of property, plant and equipment (761) (755) (575)
Proceeds from the sale of the Spinal Implants business 165 0 0
Other investing, net (60) 133 3
Net cash used in investing activities (4,866) (3,000) (962)
Financing activities      
Proceeds (payments) on short-term borrowings, net 0 (32) 540
Proceeds from issuance of long-term debt 2,979 3,011 1,241
Payments on long-term debt (1,400) (2,039) (2,058)
Payments of dividends (1,284) (1,219) (1,139)
Cash paid for taxes from withheld shares (149) (195) (155)
Other financing, net (33) (51) (23)
Net cash provided by (used in) financing activities 113 (525) (1,594)
Effect of exchange rate changes on cash and cash equivalents 68 (36) (28)
Change in cash and cash equivalents 359 681 1,127
Cash and cash equivalents at beginning of year 3,652 2,971 1,844
Cash and cash equivalents at end of year 4,011 3,652 2,971
Supplemental cash flow disclosure:      
Cash paid for income taxes, net of refunds 1,002 989 693
Cash paid for interest on debt $ 582 $ 396 $ 356
v3.25.4
Significant Accounting Policies
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Significant Accounting Policies SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations: Stryker (the "Company," "we," "us," or
"our") is a global leader in medical technologies and, together
with our customers, we are driven to make healthcare better. We
offer innovative products and services in MedSurg,
Neurotechnology and Orthopaedics that help improve patient and
healthcare outcomes. Our products include surgical equipment
and surgical navigation systems; endoscopic and
communications systems; patient handling, emergency medical
equipment and intensive care disposable products; clinical
communication and artificial intelligence-assisted virtual care
platform technology; products for traditional brain and open skull-
based surgical procedures; minimally invasive products for the
treatment of acute ischemic and hemorrhagic stroke and venous
thromboembolism; implants used in joint replacement and trauma
surgeries; Mako robotic-arm assisted technology; as well as other
products used in a variety of medical specialties.
Basis of Presentation and Consolidation: The Consolidated
Financial Statements include the Company and its subsidiaries.
All significant intercompany accounts and transactions are
eliminated in consolidation. We have no material interests in
variable interest entities. Certain prior year amounts have been
reclassified to conform with current year presentation in our
Consolidated Financial Statements.
Use of Estimates: The preparation of financial statements in
conformity with accounting principles generally accepted in the
United States (GAAP) requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities on the
date of the financial statements and the reported amounts of net
sales and expenses in the reporting period. Actual results could
differ from those estimates.
Revenue Recognition: Sales are recognized as the
performance obligations to deliver products or services (including
services under extended warranty service contracts) are satisfied
and are recorded based on the amount of consideration we
expect to receive in exchange for satisfying the performance
obligations. Our sales are recognized primarily when we transfer
control to the customer, which can be on the date of shipment,
the date of receipt by the customer or, for most Orthopaedics
products, when we have received a purchase order and
appropriate notification the product has been used or implanted.
Products and services are primarily transferred to customers at a
point in time, with some transfers of services taking place over
time.
Sales represent the amount of consideration we expect to receive
from customers in exchange for transferring products and
services. Net sales exclude sales, value added and other taxes
we collect from customers. Other costs to obtain and fulfill
contracts are generally expensed as incurred due to the short-
term nature of most of our sales. We extend terms of payment to
our customers based on commercially reasonable terms for the
markets of our customers, while also considering their credit
quality.
A provision for estimated sales returns, discounts and rebates is
recognized as a reduction of sales in the same period that the
sales are recognized. Our estimate of the provision for sales
returns has been established based on contract terms with our
customers and historical business practices and current trends.
Shipping and handling costs charged to customers are included
in net sales.
Cost of Sales: Cost of sales include direct materials and
supplies consumed in the manufacture of product, as well as
manufacturing labor, depreciation expense and direct overhead
expense necessary to acquire and convert the purchased
materials and supplies into finished product. Cost of sales also
includes the cost to distribute products to customers, inbound
freight costs, warehousing costs and other shipping and handling
activity.
Research, Development and Engineering Expenses:
Research, development and engineering costs are charged to
expense as incurred and include research, development and
engineering activities relating to the development of new
products, improvement of existing products, technical support of
products and compliance with governmental regulations for the
protection of customers and patients. Costs primarily include
salaries, wages, consulting and depreciation and maintenance of
research facilities and equipment.
Selling, General and Administrative Expenses: Costs include
selling expenses, marketing expenses, administrative and other
indirect overhead costs, amortization of loaner instrumentation,
depreciation and amortization expense of non-manufacturing
assets and other miscellaneous operating items.
Currency Translation: Financial statements of subsidiaries
outside the United States generally are measured using the local
currency as the functional currency. Adjustments to translate
those statements into United States Dollars are recorded in other
comprehensive income (OCI). Transactional exchange gains and
losses are included in other income.
Cash Equivalents: Highly liquid investments with remaining
stated maturities of three months or less when purchased or
other money market instruments that are redeemable upon
demand are considered cash equivalents and recorded at cost.
Short-term Investments: Short-term investments that have a
maturity greater than three months and less than a year from the
date of purchase primarily include time deposits, certificates of
deposit, commercial paper, bonds and notes, substantially all of
which are denominated in United States Dollars and are stated at
cost plus accrued interest, which approximates fair value. We
expect to hold all of our short-term investments to maturity.
Marketable Securities: Marketable securities include marketable
debt securities and mutual funds. Mutual funds are acquired to
offset changes in certain liabilities related to deferred
compensation arrangements and are expected to be used to
settle these liabilities. Mutual funds are recognized in other
noncurrent assets. Pursuant to our investment policy, all
individual marketable security investments must have a minimum
credit quality of single A (Standard & Poor’s and Fitch) and A2
(Moody’s Corporation) at the time of acquisition, while the overall
portfolio of marketable securities must maintain a minimum
average credit quality of double A (Standard & Poor’s and Fitch)
or Aa (Moody’s Corporation). In the event of a rating downgrade
below the minimum credit quality subsequent to purchase, the
marketable security investment is evaluated to determine the
appropriate action to take to minimize the overall risk to our
marketable security investment portfolio. Our marketable
securities are classified as available-for-sale and trading
securities. Investments in trading securities represent participant-
directed investments of deferred employee compensation.
Accounts Receivable: Accounts receivable include trade and
other miscellaneous receivables. An allowance is maintained for
doubtful accounts for estimated losses in the collection of
accounts receivable. Estimates are made regarding the ability of
customers to make required payments based on historical credit
experience, current market conditions and expected credit
losses. Accounts receivable are written off when all reasonable
collection efforts are exhausted.
Inventories: Inventories are stated at the lower of cost or net
realizable value, with cost generally determined using the first-in,
first-out (FIFO) cost method. For excess and obsolete inventory
resulting from the potential inability to sell specific products at
prices in excess of current carrying costs, reserves are
maintained to reduce current carrying cost to net realizable value.
Financial Instruments: Our financial instruments include cash,
cash equivalents, marketable securities, accounts receivable,
other investments, accounts payable, debt and foreign currency
exchange contracts. The carrying value of our financial
instruments, with the exception of our senior unsecured notes,
approximates fair value on December 31, 2025 and 2024. Refer
to Notes 3 and 10 for further details.
All marketable securities are recognized at fair value.
Adjustments to the fair value of marketable securities that are
classified as available-for-sale are recognized as increases or
decreases, net of income taxes, within accumulated other
comprehensive income (AOCI) in shareholders’ equity and
adjustments to the fair value of marketable securities that are
classified as trading are recognized in earnings. The amortized
cost of marketable debt securities is adjusted for amortization of
premiums and discounts to maturity computed under the effective
interest method. Such amortization, interest and realized gains
and losses are included in other income. The cost of securities
sold is determined by the specific identification method.
We review declines in the fair value of our investments classified
as available-for-sale to determine whether the decline in fair
value is a result of credit loss or other factors. Impairments of
available-for-sale marketable debt securities related to credit loss
are included in earnings and impairments related to other factors
are recognized within AOCI.
Derivatives: All derivatives are recognized at fair value and
reported on a gross basis. We enter into forward currency
exchange contracts to mitigate the impact of currency fluctuations
on transactions denominated in nonfunctional currencies, thereby
limiting our risk that would otherwise result from changes in
exchange rates. The periods of the forward currency exchange
contracts correspond to the periods of the exposed transactions,
with realized gains and losses included in the measurement and
recording of transactions denominated in the nonfunctional
currencies. All forward currency exchange contracts are recorded
at their fair value each period.
Forward currency exchange contracts designated as cash flow
hedges are designed to hedge the variability of cash flows
associated with forecasted transactions denominated in a foreign
currency that will take place in the future. These nonfunctional
currency exposures principally relate to forecasted intercompany
sales and purchases of manufactured products and generally
have maturities up to eighteen months. Changes in value of
derivatives designated as cash flow hedges are recorded in AOCI
in shareholders’ equity until earnings are affected by the
variability of the underlying cash flows. At that time, the
applicable amount of gain or loss from the derivative instrument
that is deferred in shareholders’ equity is reclassified into
earnings and is included in cost of goods sold. Cash flows
associated with these hedges are included in cash provided by
operating activities in the same category as the cash flows from
the items being hedged.
Forward currency exchange contracts are used to offset our
exposure to the change in value of specific foreign currency
denominated assets and liabilities, primarily intercompany
payables and receivables. These derivatives are not designated
as hedges and, therefore, changes in the value of these forward
contracts are recognized in earnings, thereby offsetting the
current earnings effect of the related changes in value of foreign
currency denominated assets and liabilities. The estimated fair
value of our forward currency exchange contracts represents the
measurement of the contracts at month-end spot rates as
adjusted by current forward points.
From time to time, we designate derivative and non-derivative
financial instruments as net investment hedges of our
investments in certain international subsidiaries. For derivative
instruments that are designated and qualify as a net investment
hedge, the effective portion of the derivative's gain or loss is
recognized in OCI and reported as a component of AOCI. We
have elected to use the spot method to assess effectiveness for
our derivatives designated as net investment hedges.
Accordingly, the change in fair value attributable to changes in
the spot rate is recorded in AOCI. We exclude the spot-forward
difference from the assessment of hedge effectiveness and
amortize this amount separately on a straight-line basis over the
term of the forward contracts. This amortization is recognized in
other income.
From time to time, we designate forward starting interest rate
derivative instruments as cash flow hedges to manage the
exposure to interest rate volatility with regard to future issuance
and refinancing of debt. Changes in value of derivatives
designated as cash flow hedges are recorded in AOCI until
earnings are affected by the variability of the underlying cash
flows. At that time, the applicable amount of gain or loss from the
derivative instrument that is deferred in shareholders’ equity is
reclassified into earnings and is included in interest expense.
Interest rate derivative instruments designated as fair value
hedges have been used in the past to manage the exposure to
interest rate movements and to reduce borrowing costs by
converting fixed-rate debt into floating-rate debt. Under these
agreements, we agree to exchange, at specified intervals, the
difference between fixed and floating interest amounts calculated
by reference to an agreed-upon notional principal amount.
Property, Plant and Equipment: Property, plant and equipment
is stated at cost. Depreciation is generally computed by the
straight-line method over the estimated useful lives of three to 30
years for buildings and improvements and three to 15 years for
machinery and equipment.
Goodwill and Other Intangible Assets: Goodwill represents the
excess of purchase price over fair value of tangible net assets of
acquired businesses at the acquisition date, after amounts
allocated to other identifiable intangible assets. Factors that
contribute to the recognition of goodwill include synergies that are
specific to our business and not available to other market
participants and are expected to increase net sales and profits;
acquisition of a talented workforce; cost savings opportunities;
the strategic benefit of expanding our presence in core and
adjacent markets; and diversifying our product portfolio.
The fair values of other identifiable intangible assets acquired in a
business combination are primarily determined using the income
approach. Other intangible assets include, but are not limited to,
developed technologies, customer and distributor relationships
(which reflect expected continued customer or distributor
patronage) and trademarks and patents. Intangible assets with
determinable useful lives are amortized on a straight-line basis
over their estimated useful lives of four to 40 years. Certain
acquired trade names are considered to have indefinite lives and
are not amortized, but are assessed annually for potential
impairment as described below.
In some of our acquisitions, we acquire in-process research and
development (IPRD) intangible assets. For acquisitions
accounted for as business combinations IPRD is considered to
be an indefinite-lived intangible asset until the research is
completed (then it becomes a determinable-lived intangible
asset) or determined to have no future use (then it is impaired).
For asset acquisitions IPRD is expensed immediately unless
there is an alternative future use.
Goodwill, Intangibles and Long-Lived Asset Impairment
Tests: We perform our annual impairment test for goodwill as of
October 31 each year. We consider qualitative indicators of the
fair value of a reporting unit when it is unlikely that a reporting
unit has impaired goodwill and periodically corroborate that
assessment with quantitative information. In certain
circumstances, we may also utilize a discounted cash flow
analysis that requires certain assumptions and estimates be
made regarding market conditions and our future profitability.
Indefinite-lived intangible assets are also tested at least annually
for impairment by comparing the individual carrying values to the
fair value.
We review long-lived assets for indicators of impairment
whenever events or changes in circumstances indicate that the
carrying amount may not be recoverable. The evaluation is
performed at the lowest level of identifiable cash flows.
Undiscounted cash flows expected to be generated by the related
assets are estimated over the asset's useful life based on
updated projections. If the evaluation indicates that the carrying
amount of the asset may not be recoverable, any potential
impairment is measured based upon the fair value of the related
asset or asset group as determined by an appropriate market
appraisal or other valuation technique.
Assets and Liabilities Held for Sale: We classify assets and
liabilities or disposal groups to be sold as held for sale in the
period in which all of the following criteria are met: management,
having the authority to approve the action, commits to a plan to
sell the disposal group; the disposal group is available for
immediate sale in its present condition subject only to terms that
are usual and customary for sales of such disposal groups; an
active program to locate a buyer and other actions required to
complete the plan to sell the disposal group have been initiated;
the sale of the disposal group is probable, and transfer of the
disposal group is expected to qualify for recognition as a
completed sale within one year, except if events or circumstances
beyond our control extend the period of time required to sell the
disposal group beyond one year; the disposal group is being
actively marketed for sale at a price that is reasonable in relation
to its current fair value; and actions required to complete the plan
indicate that it is unlikely that significant changes to the plan will
be made or that the plan will be withdrawn.
We initially measure a disposal group that is classified as held for
sale at the lower of its carrying value or fair value less any costs
to sell. Any loss resulting from this measurement is recognized in
the period in which the held for sale criteria are met. Conversely,
gains are not recognized on the sale of a disposal group until the
sale is completed. We assess the fair value of a disposal group,
less any costs to sell, each reporting period it remains classified
as held for sale and report any subsequent changes as an
adjustment to the carrying value of the disposal group, as long as
the new carrying value does not exceed the carrying value of the
disposal group at the time it was initially classified as held for
sale.
Upon determining that a disposal group meets the criteria to be
classified as held for sale, we cease depreciation and
amortization of the assets and disclose the major classes of
assets and liabilities of the disposal group in the Notes to the
Consolidated Financial Statements. Refer to Note 16 for further
information.
Share-Based Compensation: Share-based compensation is in
the form of stock options, restricted stock units (RSUs) and
performance stock units (PSUs). Stock options are granted under
long-term incentive plans to certain key employees and non-
employee directors at an exercise price not less than the fair
market value of the underlying common stock, which is the
quoted closing price of our common stock on the day prior to the
date of grant. The options are granted for periods of up to 10
years and become exercisable in varying installments.
We grant RSUs to key employees and non-employee directors
and PSUs to certain key employees under our long-term
incentive plans. The fair value of RSUs is determined based on
the number of shares granted and the quoted closing price of our
common stock on the date of grant, adjusted for the fact that
RSUs do not include anticipated dividends. RSUs generally vest
in one-third increments over a three-year period and are settled
in stock. PSUs are earned over a three-year performance cycle
and vest in March of the year following the end of that
performance cycle. The number of PSUs that will ultimately be
earned is based on our performance relative to pre-established
goals in that three-year performance cycle. The fair value of
PSUs is determined based on the quoted closing price of our
common stock on the day of grant.
Compensation expense is recognized in the Consolidated
Statements of Earnings based on the estimated fair value of the
awards on the grant date. Compensation expense recognized
reflects an estimate of the number of awards expected to vest
after taking into consideration an estimate of award forfeitures
based on actual experience and is recognized on a straight-line
basis over the requisite service period, which is generally the
period required to obtain full vesting. Management expectations
related to the achievement of performance goals associated with
PSU grants is assessed regularly and that assessment is used to
determine whether PSU grants are expected to vest. If
performance-based milestones related to PSU grants are not met
or not expected to be met, any compensation expense
recognized associated with such grants will be reversed.
Income Taxes: Deferred income tax assets and liabilities are
determined based on differences between financial reporting and
income tax bases of assets and liabilities and are measured
using the enacted income tax rates in effect for the years in which
the differences are expected to reverse. Deferred income tax
benefits generally represent the change in net deferred income
tax assets and liabilities in the year. Other amounts result from
adjustments related to acquisitions and foreign currency as
appropriate.
We operate in multiple income tax jurisdictions both within the
United States and internationally. Accordingly, management must
determine the appropriate allocation of income to each of these
jurisdictions based on current interpretations of complex income
tax regulations. Income tax authorities in these jurisdictions
regularly perform audits of our income tax filings. Income tax
audits associated with the allocation of this income and other
complex issues, including inventory transfer pricing and cost
sharing, product royalty and foreign branch arrangements, may
require an extended period of time to resolve and may result in
significant income tax adjustments if changes to the income
allocation are required between jurisdictions with different income
tax rates.
The Tax Cuts and Jobs Act (the Act) was enacted in 2017 in the
United States. The Act also subjects a United States shareholder
to tax on Global Intangible Low-Taxed Income (GILTI) earned by
certain foreign subsidiaries. We have elected to account for GILTI
tax in the year the tax is incurred.
New Accounting Pronouncements Not Yet Adopted
In December 2025 the Financial Accounting Standards Board
(FASB) issued ASU 2025-10 (Topic 832): Accounting for
Government Grants Received by Business Entities. This update
establishes guidance on the recognition, measurement and
presentation of government grants received by business entities
including grants related to the purchase, construction or
acquisition of an asset and grants related to income. The update
is effective for fiscal years beginning after December 15, 2028
including interim periods within those fiscal years. Early adoption
is permitted. We do not expect this ASU to have a significant 
impact on our Consolidated Financial Statements.
In September 2025 the FASB issued ASU 2025-07 (Topics 815
and 606): Derivatives and Hedging: Derivatives Scope
Refinements and Revenue from Contracts with Customers:
Scope Clarification for Share-Based Noncash Consideration from
a Customer in a Revenue Contract. This update expands the
scope exception in Topic 815 to certain nonexchange-traded
contracts for which settlement is based on operations or activities
specific to one of the parties to the contract. The update is
effective for fiscal years beginning after December 15, 2026
including interim periods within those fiscal years. Early adoption
is permitted. We are evaluating if the ASU will have an impact on
our Consolidated Financial Statements.
In September 2025 the FASB issued ASU 2025-06 (Subtopic
350-40): Intangibles - Goodwill and Other - Internal-Use
Software: Targeted Improvements to the Accounting for Internal-
Use Software. This update clarifies and modernizes the
accounting for costs related to internal-use software by removing
all references to project stages and clarifying that the probable-
to-complete threshold is not met if significant development
uncertainty exists. The update is effective for fiscal years
beginning after December 15, 2027 including interim periods
within those fiscal years. Early adoption is permitted. We do not
expect this ASU to have a significant  impact on our Consolidated
Financial Statements.
In July 2025 the FASB issued ASU 2025-05 (Topic 326):
Financial Instruments - Credit Losses: Measurement of Credit
Losses for Accounts Receivable and Contract Assets. This
update provides a practical expedient allowing entities to assume
that current conditions as of the balance sheet date will remain
unchanged for the remaining life of the asset when estimating
expected credit losses for current accounts receivable and
current contract assets arising from transactions accounting for
under Accounting Standards Codification 606, Revenue from
Contracts with Customers. The update is effective for fiscal years
beginning after December 15, 2025 including interim periods
within those fiscal years. Early adoption is permitted. We are
evaluating if the ASU will have an impact on our Consolidated
Financial Statements.
In November 2024 the FASB issued ASU 2024-03 (Subtopic
220-40): Income Statement: Reporting Comprehensive Income -
Expense Disaggregation Disclosures which requires
disaggregation of certain expense captions into specified
categories in disclosures within the Notes to the Consolidated
Financial Statements. The new disclosure requirements are
effective for fiscal years beginning after December 15, 2026 and
interim periods within fiscal years beginning after December 15,
2027. Early adoption is permitted. We are evaluating these new
expanded disclosure requirements.
We evaluate all ASUs issued by the FASB for consideration of
their applicability. ASUs not included in our disclosures were
assessed and determined to be either not applicable or are not
expected to have a material impact on our Consolidated Financial
Statements.
Accounting Pronouncements Recently Adopted
We adopted ASU 2023-09 (Topic 740): Income Taxes:
Improvements to Income Tax Disclosures for the annual period
beginning on January 1, 2025. Refer to Note 11 for further
information.
v3.25.4
Revenue Recognition
12 Months Ended
Dec. 31, 2025
Revenue Recognition [Abstract]  
Revenue Recognition REVENUE RECOGNITION
We disaggregate our net sales by business and geographic
location for each of our segments as we believe it best depicts
how the nature, amount, timing and certainty of our net sales and
cash flows are affected by economic factors.
Products and services are primarily transferred to customers at a
point in time, with some transfers of services taking place over
time. In 2025 less than 10% of our sales were recognized as
services transferred over time. Refer to Note 1 for further
discussion on our revenue recognition policies.
Segment Net Sales
MedSurg and Neurotechnology:
2025
2024
2023
Instruments
$3,183
$2,834
$2,534
Endoscopy
3,807
3,389
3,068
Medical
4,204
3,852
3,459
Vascular
1,968
1,307
1,226
Neuro Cranial
2,485
2,136
1,876
$15,647
$13,518
$12,163
Orthopaedics:
Knees
$2,656
$2,447
$2,273
Hips
1,865
1,704
1,544
Trauma and Extremities
3,948
3,507
3,147
Spinal Implants
185
707
713
Other
815
712
658
$9,469
$9,077
$8,335
Total
$25,116
$22,595
$20,498
United States Net Sales
MedSurg and Neurotechnology:
2025
2024
2023
Instruments
$2,562
$2,267
$2,016
Endoscopy
3,133
2,792
2,513
Medical
3,510
3,191
2,785
Vascular
1,048
506
483
Neuro Cranial
2,052
1,761
1,531
$12,305
$10,517
$9,328
Orthopaedics:
Knees
$1,924
$1,788
$1,676
Hips
1,137
1,059
988
Trauma and Extremities
2,926
2,586
2,297
Spinal Implants
118
489
500
Other
596
504
468
$6,701
$6,426
$5,929
Total
$19,006
$16,943
$15,257
International Net Sales
MedSurg and Neurotechnology:
2025
2024
2023
Instruments
$621
$567
$518
Endoscopy
674
597
555
Medical
694
661
674
Vascular
920
801
743
Neuro Cranial
433
375
345
$3,342
$3,001
$2,835
Orthopaedics:
Knees
$732
$659
$597
Hips
728
645
556
Trauma and Extremities
1,022
921
850
Spinal Implants
67
218
213
Other
219
208
190
$2,768
$2,651
$2,406
Total
$6,110
$5,652
$5,241
MedSurg and Neurotechnology
MedSurg and Neurotechnology products include surgical
equipment, patient and caregiver safety technologies, and
navigation systems (Instruments), endoscopic and
communications systems (Endoscopy), patient handling,
emergency medical equipment, intensive care disposable
products, clinical communication and artificial intelligence-
assisted virtual care platform technology (Medical), minimally
invasive products for the treatment of acute ischemic and
hemorrhagic stroke and venous thromboembolism (Vascular) and
a comprehensive line of products for traditional brain and open
skull-based surgical procedures, orthobiologic and biosurgery
products, including synthetic bone grafts and vertebral
augmentation products (Neuro Cranial). Substantially all
MedSurg and Neurotechnology sales are recognized when a
purchase order has been received and control has transferred.
For certain Endoscopy, Instruments and Medical services, we
may recognize sales over time as we satisfy performance
obligations that may include an obligation to complete installation,
provide training and perform ongoing services, generally
performed within one year.
Orthopaedics
Orthopaedics products primarily include implants used in total
joint replacements, such as hip, knee and shoulder, ankle and
trauma and extremities surgeries. Substantially all Orthopaedics
sales are recognized when we have received a purchase order
and appropriate notification the product has been used or
implanted. For certain Orthopaedic products in the "other"
category, we recognize sales at a point in time, as well as over
time for performance obligations that may include an obligation to
complete installation and provide training and ongoing services.
Performance obligations are generally satisfied within one year.
Costs to Obtain or Fulfill a Contract
We typically do not incur costs to fulfill a contract before a
product or service is provided to a customer due to the nature of
our products and services. Our costs to obtain contracts are
typically in the form of sales commissions paid to employees or
third-party agents. Certain sales commissions paid to employees
prior to recognition of sales are recorded as deferred contract
costs. We expense sales commissions associated with obtaining
a contract at the time of the sale or as incurred as the
amortization period is generally less than one year. These costs
have been presented within selling, general and administrative
expenses. On December 31, 2025 and 2024 deferred contract
costs recorded in our Consolidated Balance Sheets were not
significant.
Contract Assets and Liabilities
Our contract assets primarily relate to conditional rights to
consideration for work completed but not billed at the reporting
date. On December 31, 2025 and 2024 contract assets recorded
in our Consolidated Balance Sheets were not significant.
Our contract liabilities arise as a result of consideration received
from customers at inception of contracts for certain businesses or
where the timing of billing for services precedes satisfaction of
our performance obligations. This occurs primarily when payment
is received upfront for certain multi-period extended warranty
service contracts. Our contract liabilities of $1,024 and $978 on
December 31, 2025 and 2024 are classified within accrued
expenses and other liabilities and other noncurrent liabilities in
our Consolidated Balance Sheets based on the timing of when
we expect to complete our performance obligations. Changes in
contract liabilities during the year were as follows:
2025
2024
Beginning contract liabilities
$978
$860
Revenue recognized from beginning of year contract
liabilities
(546)
(553)
Net advance consideration received during the period
592
671
Ending contract liabilities
$1,024
$978
v3.25.4
Fair Value Measurements
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
Fair value is defined as the price that would be received to sell an
asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. Financial
assets and liabilities carried at fair value are classified in their
entirety based on the lowest level of input and disclosed in one of
the following three categories:
Level 1
Quoted market prices in active markets for identical assets or
liabilities.
Level 2
Observable market-based inputs or unobservable inputs that
are corroborated by market data.
Level 3
Unobservable inputs reflecting our assumptions or external
inputs from active markets.
Use of observable market data, when available, is required in
making fair value measurements. When inputs used fall within
different levels of the hierarchy, the level within which the fair
value measurement is categorized is based on the lowest level
input that is significant to the fair value measurement. We
determine fair value for Level 1 instruments using exchange-
traded prices for identical instruments. We determine fair value of
Level 2 instruments using exchange-traded prices of similar
instruments, where available, or utilizing other observable inputs
that take into account our credit risk and that of our
counterparties. Foreign currency exchange contracts and interest
rate hedges, when outstanding, are included in Level 2 and are
primarily valued using standard calculations and models that use
readily observable market data as their basis. Our Level 3
liabilities comprise contingent consideration arising from recently
completed acquisitions. We determine fair value of these Level 3
liabilities using a discounted cash flow technique. Significant
unobservable inputs were used in our assessment of fair value,
including assumptions regarding future business results, discount
rates, discount periods and probability assessments based on the
likelihood of reaching various targets. We remeasure the fair
value of our assets and liabilities each reporting period. We
record the changes in fair value within selling, general and
administrative expense.
In 2025 we assumed contingent consideration liabilities with a fair
value of $90 related to previous acquisitions made by Inari
Medical Inc. (Inari). Refer to Note 6 for further information on the
acquisition of Inari.
In 2024 we recorded $208 of contingent consideration related to
various acquisitions described in Note 6.
There were no significant transfers into or out of any level of the
fair value hierarchy in 2025.
Assets Measured at Fair Value
2025
2024
Cash and cash equivalents
$4,011
$3,652
Short-term investments
750
Trading marketable securities
307
259
Level 1 - Assets
$4,318
$4,661
Available-for-sale marketable securities:
Corporate and asset-backed debt securities
$52
$53
United States agency debt securities
1
United States treasury debt securities
37
34
Certificates of deposit
3
Total available-for-sale marketable securities
$89
$91
Foreign currency exchange forward contracts
46
225
Level 2 - Assets
$135
$316
Total assets measured at fair value
$4,453
$4,977
Liabilities Measured at Fair Value
2025
2024
Deferred compensation arrangements
$307
$259
Level 1 - Liabilities
$307
$259
Foreign currency exchange forward contracts
$170
$77
Level 2 - Liabilities
$170
$77
Contingent consideration:
Beginning
$452
$289
Additions
123
208
Change in estimate and foreign exchange
24
8
Settlements
(81)
(53)
Ending
$518
$452
Level 3 - Liabilities
$518
$452
Total liabilities measured at fair value
$995
$788
Fair Value of Available for Sale Securities by Maturity
2025
2024
Due in one year or less
$41
$47
Due after one year through three years
$48
$44
On December 31, 2025 the aggregate difference between the
cost and fair value of available-for-sale marketable securities was
nominal. Interest income on cash and cash equivalents, short-
term investments and marketable securities income was $121,
$139 and $75 in 2025, 2024 and 2023, which was recorded in
other income.
Our investments in available-for-sale marketable securities had a
minimum credit quality rating of A2 (Moody's), A (Standard &
Poor's) and A (Fitch). We do not plan to sell the investments, and
it is not more likely than not that we will be required to sell the
investments before recovery of their amortized cost basis, which
may be maturity.
v3.25.4
Derivative Instruments
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments DERIVATIVE INSTRUMENTS
We use operational and economic hedges, foreign currency
exchange forward contracts, net investment hedges (both
derivative and non-derivative financial instruments) and interest
rate derivative instruments to manage the impact of currency
exchange and interest rate fluctuations on earnings, cash flow
and equity. We do not enter into derivative instruments for
speculative purposes. We are exposed to potential credit loss in
the event of nonperformance by counterparties on our
outstanding derivative instruments but do not anticipate
nonperformance by any of our counterparties. Should a
counterparty default, our maximum loss exposure is the asset
balance of the instrument.
Foreign Currency Hedges
2025
Cash Flow
Net
Investment
Non-
Designated
Total
Gross notional amount
$1,738
$2,647
$4,391
$8,776
Maximum term in years
8.7
Fair value:
Other current assets
$33
$
$11
$44
Other noncurrent assets
2
2
Other current liabilities
(10)
(71)
(21)
(102)
Other noncurrent
liabilities
(2)
(66)
(68)
Total fair value
$23
$(137)
$(10)
$(124)
2024
Cash Flow
Net
Investment
Non-
Designated
Total
Gross notional amount
$1,588
$2,338
$5,164
$9,090
Maximum term in years
9.7
Fair value:
Other current assets
$43
$24
$119
$186
Other noncurrent assets
4
35
39
Other current liabilities
(29)
(41)
(70)
Other noncurrent
liabilities
(3)
(4)
(7)
Total fair value
$15
$55
$78
$148
We had €2.3 billion at December 31, 2025 and 2024 in certain
forward currency contracts designated as net investment hedges,
for which the maximum term is 8.7 years, to hedge a portion of
our investments in certain of our entities with functional
currencies denominated in Euros. In addition to these derivative
financial instruments designated as net investment hedges, we
had €5.0 billion at December 31, 2025 and 2024 of senior
unsecured notes designated as net investment hedges to
selectively hedge portions of our investment in certain
international subsidiaries. The currency effects of our Euro-
denominated senior unsecured notes are reflected in AOCI within
shareholders' equity where they offset gains and losses recorded
on our net investment in international subsidiaries.
The total after-tax gain (loss) recognized in OCI related to
designated net investment hedges was ($715) in 2025.
Currency Exchange Rate Gains (Losses) Recognized in Net
Earnings
Derivative Instrument
Recognized in:
2025
2024
2023
Cash Flow
Cost of sales
$25
$31
$39
Net Investment
Other income
44
35
34
Non-Designated
Other income
33
40
25
Total
$102
$106
$98
Pretax gains (losses) on derivatives designated as cash flow
hedges of $39 and net investment hedges of $38 recorded in
AOCI are expected to be reclassified to cost of sales and other
income in earnings within 12 months of December 31, 2025. This
cash flow hedge reclassification is primarily due to the sale of
inventory that includes previously hedged purchases. A
component of the AOCI amounts related to net investment
hedges is reclassified over the life of the hedge instruments as
we elected to exclude the initial value of the component related to
the spot-forward difference from the effectiveness assessment.
Interest Rate Hedges
Pretax gains of $5 recorded in AOCI related to interest rate
hedges closed in conjunction with debt issuances are expected to
be reclassified to interest expense in earnings within 12 months
of December 31, 2025. The cash flow effect of interest rate
hedges is recorded in cash flow from operations.
v3.25.4
Accumulated Other Comprehensive (Loss) Income (AOCI)
12 Months Ended
Dec. 31, 2025
Reclassification Adjustments Out of Accumulated Other Comprehensive Income (AOCI) [Abstract]  
Accumulated Other Comprehensive (Loss) Income (AOCI) ACCUMULATED OTHER COMPREHENSIVE (LOSS)
INCOME (AOCI)
Pension
Plans
Hedges
Financial
Statement
Translation
Total
2023
$(28)
$39
$(427)
$(416)
OCI
43
26
236
305
Income taxes
(11)
(7)
(110)
(128)
Reclassifications to:
Cost of sales
(31)
(31)
Interest expense
(4)
(4)
Other income
(35)
(35)
Income taxes
8
8
16
Net OCI
$32
$(8)
$99
$123
2024
$4
$31
$(328)
$(293)
OCI
93
37
(562)
(432)
Income taxes
(27)
(4)
125
94
Reclassifications to:
Cost of sales
(25)
(25)
Interest expense
(3)
(3)
Other income
(44)
(44)
Income taxes
6
10
16
Net OCI
$66
$11
$(471)
$(394)
2025
$70
$42
$(799)
$(687)
v3.25.4
Acquisitions
12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
Acquisitions ACQUISITIONS
We acquire stock in companies and various assets that continue
to support our capital deployment and product development
strategies. Cash paid for acquisitions, net of cash acquired was
$4,960 and $1,628 in 2025 and 2024.
In February 2025 we completed the acquisition of Inari for $80
per share, or an aggregate purchase price of $4,810, net of cash
acquired. Inari's product portfolio includes minimally invasive
products for the treatment of venous thromboembolism. Inari is
part of our Peripheral Vascular business within MedSurg and
Neurotechnology. The purchase price allocation for Inari is based
on preliminary valuations, primarily related to developed
technologies and customer relationships. Goodwill attributable to
the acquisition reflects the strategic benefits of expanding our
market presence, diversifying our product portfolio and advancing
innovations. This goodwill is not deductible for tax purposes.
Share-based awards for Inari employees vested upon our
acquisition and a charge of $139 was recorded in selling, general
and administrative expenses in 2025.
In 2024 we completed various acquisitions for total consideration
that includes $1,628 in upfront payments, net of cash acquired,
and $400 contingent upon the achievement of certain commercial
or clinical milestones. The combined acquisition-date fair values
of the contingent milestone payments totaled $208. The acquired
companies expand the product portfolios of our Instruments,
Endoscopy, Medical and Neuro Cranial businesses within
MedSurg and Neurotechnology and our Trauma and Extremities
and Joint Replacement businesses within Orthopaedics. Goodwill
attributable to the acquisitions reflects the strategic benefits of
expanding our market presence, diversifying our product portfolio
and advancing innovations. This goodwill is not deductible for tax
purposes.
The purchase price allocations for Inari and the acquisitions
completed in the full year 2024 are:
Purchase Price Allocation of Acquired Net Assets
2025
2024
Inari
Total
Tangible assets acquired:
Accounts receivable
$78
$40
Inventory
215
99
Deferred income tax assets
59
49
Other assets
84
26
Debt
(32)
Deferred income tax liabilities
(486)
(204)
Other liabilities
(191)
(107)
Intangible assets:
Developed technologies
1,458
596
Customer relationships
330
215
Patents
6
Trademarks
2
Other intangibles
72
Goodwill
3,191
1,146
Purchase price, net of cash acquired of
$64 and $56
$4,810
$1,836
Weighted-average amortization period at
acquisition (years):
Developed technologies
13
12
Customer relationships
13
14
Patents
12
Trademarks
5
Other intangibles
9
v3.25.4
Contingencies and Commitments
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies and Commitments CONTINGENCIES AND COMMITMENTS
We are involved in various ongoing proceedings, legal actions
and claims arising in the normal course of business, including
proceedings related to product, labor, tax, intellectual property
and other matters, the most significant of which are more fully
described below. The outcomes of these matters will generally
not be known for prolonged periods of time. In certain of the legal
proceedings the claimants seek damages as well as other
compensatory and equitable relief that could result in the
payment of significant claims and settlements and/or the
imposition of injunctions or other equitable relief. For legal
matters for which management had sufficient information to
reasonably estimate our future obligations, a liability representing
management's best estimate of the probable loss, or the
minimum of the range of probable losses when a best estimate
within the range is not known, is recorded. The estimates are
based on consultation with legal counsel, previous settlement
experience and settlement strategies. If actual outcomes are less
favorable than those estimated by management, additional
expense may be incurred, which could unfavorably affect future
operating results. We are self-insured for certain claims and
expenses. The ultimate cost to us with respect to product liability
claims could be materially different than the amount of the current
estimates and accruals and could have a material adverse effect
on our financial position, results of operations and cash flows.
Previously we were contacted by the United States Securities
and Exchange Commission (SEC), United States Department of
Justice (DOJ) and certain other regulatory authorities regarding
whether certain business activities in certain foreign countries
violated provisions of the FCPA and analogous local laws. We
have completed our investigation into these matters. During 2025
we were informed by the SEC and DOJ that each agency had
closed its inquiry. We are currently responding to inquiries by
certain foreign authorities arising in the normal course of
business. We do not expect these matters to have a material
effect, if any, on our financial statements.
We have conducted voluntary recalls of certain products,
including our Rejuvenate and ABG II Modular-Neck hip stems
and certain lot-specific sizes and offsets of LFIT Anatomic CoCr
V40 Femoral Heads. Additionally, we are responsible for certain
product liability claims, primarily related to certain hip products
sold by Wright prior to its 2014 divestiture of the OrthoRecon
business.
We have incurred, and expect to incur in the future, costs
associated with the defense and settlement of claims and
lawsuits. Based on the information that has been received related
to the matters discussed above, our accrual for these matters
was $144 at December 31, 2025, representing our best estimate
of probable loss. The final outcomes of these matters are
dependent on many factors that are difficult to predict.
Accordingly the ultimate cost related to these matters may be
materially different than the amount of our current estimate and
accruals and could have a material adverse effect on our results
of operations and cash flows.
Leases
We lease various manufacturing, warehousing and distribution
facilities, administrative and sales offices as well as equipment
under operating leases. We evaluate our contracts to identify
leases, which is generally if there is an identified asset and we
have the right to direct the use of and obtain substantially all of
the economic benefit from the use of the identified asset. Certain
of our lease agreements contain rent escalation clauses
(including index-based escalations), rent holidays, capital
improvement funding or other lease incentives. We recognize our
minimum rental expense on a straight-line basis over the term of
the lease beginning with the date of initial control of the asset.
Right-of-use assets are recorded in other noncurrent assets on
our Consolidated Balance Sheets. Current and noncurrent lease
liabilities are recorded in accrued expenses and other liabilities
and other noncurrent liabilities, respectively.
We have made certain significant assumptions and judgments
when recording leases. For all asset classes, we do not
recognize a right-of-use asset and lease liability for short-term
leases. We also do not separate non-lease components from
lease components to which they relate and account for the
combined lease and non-lease components as a single lease
component. The determination of the discount rate used in a
lease is our incremental borrowing rate which is based on what
we would normally pay to borrow on a collateralized basis over a
similar term an amount equal to the lease payments.
2025
2024
Right-of-use assets
$519
$516
Lease liabilities, current
$153
$144
Lease liabilities, noncurrent
$348
$379
Other information:
Weighted-average remaining lease term (years)
5.0
5.1
Weighted-average discount rate
3.77%
3.87%
Operating lease expense totaled $205, $190 and $172 in 2025,
2024 and 2023.
Future Obligations
We lease various manufacturing, warehousing and distribution
facilities, administrative and sales offices as well as equipment
under operating leases. Refer to Note 10 for more information on
the debt obligations.
2026
2027
2028
2029
2030
Thereafter
Debt repayments
$1,000
$1,382
$2,606
$1,691
$2,565
$6,729
Minimum lease payments
$164
$125
$87
$55
$38
$55
Other Contractual Obligations and Commitments
We participate in a supplier financing program that enables our
suppliers, at their sole discretion, to sell their Stryker receivables
to a financial institution on a non-recourse basis in order to be
paid earlier than our payment terms provide. Under this program,
we agree to pay participating banks the stated amount of
confirmed invoices from its designated suppliers on the original
maturity dates of the invoices, generally within 90 days of the
invoice date. We or the banks may agree to terminate the
agreements with advance notice. Separately, the banks may
have arrangements with the suppliers that provide them the
option to request early payment from the bank for invoices
confirmed by us. Our outstanding balances of confirmed invoices
in the programs were $75 and $71 on December 31, 2025 and
2024 and are included within accounts payable on our
Consolidated Balance Sheets.
2025
2024
Beginning confirmed obligations
$71
$51
Additions
420
392
Settlements
(416)
(372)
Ending confirmed obligations
$75
$71
v3.25.4
Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
In our annual impairment test of goodwill as of October 31, 2024
we performed a quantitative assessment of the Spine reporting
unit using a discounted cash flow analysis to estimate the fair
value. The carrying value of the Spine reporting unit exceeded its
fair value and a charge of $273 was recognized in goodwill and
other impairments in the Consolidated Statements of Earnings.
The impairment charge for the Spine reporting unit was driven by
a decrease in future product demand due to the competitive
environment and an increase in the Spine reporting unit’s
weighted average cost of capital. Subsequent to the annual
goodwill impairment test management committed to a plan to sell
certain assets associated with the Spinal Implants business
(disposal group). Goodwill was allocated to the disposal group
based on the relative fair values of the disposal group and the
portion of the Spine reporting unit that will be retained. Goodwill
allocated to the disposal group was tested for impairment which
resulted in an impairment charge of $183 recognized in goodwill
and other impairments in the Consolidated Statements of
Earnings. Refer to Note 16 for additional information on the sale
of the Spinal Implants business.
In our annual impairment test as of October 31, 2025 we
performed a quantitative impairment test for our Peripheral
Vascular reporting unit and determined that its fair value
exceeded its carrying amount by 12%. At October 31, 2025,
goodwill attributable to the Peripheral Vascular reporting unit was
$3,203. The fair value of this reporting unit was determined using
a discounted cash flow analysis, which is a form of the income
approach. Significant inputs to the analysis included assumptions
for future revenue growth, operating margin and the rate used to
discount the estimated future cash flows to their present value,
based on the reporting unit’s estimated weighted average cost of
capital.
For our other reporting units, we considered qualitative indicators
of impairment as it was considered more likely than not that the
fair values of those reporting units exceeded their respective
carrying values. No impairment was identified for those reporting
units in 2025 or 2024.
Future changes in the judgments, assumptions and estimates
that are used in our impairment testing for goodwill, including
discount and tax rates and future cash flow projections, could
result in different estimates of the fair values. A significant
reduction in the estimated fair values could result in impairment
charges that could materially affect our results of operations.
In 2024 goodwill of $117 previously reported within Orthopaedics
was reclassified to MedSurg and Neurotechnology to reflect the
reclassification of the Interventional Spine reporting unit from
Orthopaedics to MedSurg and Neurotechnology to align with
certain updates in our internal reporting structure.
Changes in the Net Carrying Value of Goodwill by Segment
MedSurg and
Neurotechnology
Orthopaedics
Total
2023
$8,270
$6,973
$15,243
Goodwill impairment
(456)
(456)
Additions and adjustments
852
300
1,152
Foreign exchange and other
86
(170)
(84)
2024
$9,208
$6,647
$15,855
Additions and adjustments
3,275
(1)
3,274
Foreign exchange and other
73
89
162
2025
$12,556
$6,735
$19,291
Summary of Other Intangible Assets
Gross
Carrying
Amount
Less
Accumulated
Amortization
Net
Carrying
Amount
Developed technologies
2025
$7,273
$3,430
$3,843
2024
5,698
2,931
2,767
Customer relationships
2025
$3,425
$1,844
$1,581
2024
3,055
1,636
1,419
Patents
2025
$157
$144
$13
2024
153
136
17
Trademarks
2025
$420
$281
$139
2024
413
256
157
In-process research and development
2025
$34
$
$34
2024
34
34
Other
2025
$132
$61
$71
2024
63
62
1
Total
2025
$11,441
$5,760
$5,681
2024
9,416
5,021
4,395
Estimated Amortization Expense
2026
2027
2028
2029
2030
$699
$711
$631
$616
$597
v3.25.4
Capital Stock
12 Months Ended
Dec. 31, 2025
Capital Stock [Abstract]  
Capital Stock CAPITAL STOCK
The aggregate number of shares of all classes of stock which we
are authorized to issue is up to 1,000,500,000, divided into two
classes consisting of 500,000 shares of $1 par value preferred
stock and 1,000,000,000 shares of common stock with a par
value of $0.10. No shares of preferred stock were outstanding on
December 31, 2025.
We made no repurchases of shares in 2025. The manner, timing
and amount of repurchases are determined by management
based on an evaluation of market conditions, stock price and
other factors and are subject to regulatory considerations.
Purchases are made from time-to-time in the open market, in
privately negotiated transactions or otherwise. On December 31,
2025 the total dollar value of shares of our common stock that
could be purchased under our authorized repurchase program
was $1,033.
Shares reserved for future compensation grants of our common
stock were 31 million and 18 million on December 31, 2025 and
2024.
Stock Options
We measure the cost of employee stock options based on the
grant-date fair value and recognize that cost using the straight-
line method over the period in which a recipient is required to
provide services in exchange for the options, typically the vesting
period. The weighted-average fair value per share of options is
estimated on the date of grant using the Black-Scholes option
pricing model.
Option Value and Assumptions
2025
2024
2023
Weighted-average fair value per share
$141.40
$118.22
$83.59
Assumptions:
Risk-free interest rate
4.4%
4.3%
4.0%
Expected dividend yield
0.9%
1.1%
1.2%
Expected stock price volatility
29.1%
29.9%
29.0%
Expected option life (years)
6.4
6.3
6.2
The risk-free interest rate for periods within the expected life of
options granted is based on the United States Treasury yield
curve in effect at the time of grant. Expected stock price volatility
is based on the historical volatility of our stock. The expected
option life, representing the period of time that options granted
are expected to be outstanding, is based on historical option
exercise and employee termination data.
2025 Stock Option Activity
Shares
(in millions)
Weighted-
Average
Exercise 
Price
Weighted-
Average
Remaining
Term (in years)
Aggregate
Intrinsic
Value
Outstanding
January 1
10.8
$214.87
Granted
1.0
392.36
Exercised
(1.2)
158.83
Canceled or
forfeited
(0.2)
313.05
Outstanding
December 31
10.4
$234.56
5.0
$1,246.1
Exercisable
December 31
6.9
$195.53
3.7
$1,073.4
Options expected
to vest
3.3
$309.91
7.5
$166.7
The aggregate intrinsic value of options, which represents the
cumulative difference between the fair market value of the
underlying common stock and the option exercise prices,
exercised was $260, $362 and $318 in 2025, 2024 and 2023.
Exercise prices for options outstanding ranged from $96.64 to
$392.39 on December 31, 2025. On December 31, 2025 there
was $160 of unrecognized compensation cost related to
nonvested stock options granted under the long-term incentive
plans. That cost is expected to be recognized as expense over
the weighted-average period of approximately 1.5 years.
Restricted Stock Units (RSUs) and Performance Stock Units
(PSUs) Activity
Shares
(in millions)
Weighted-Average
Grant Date Fair Value
RSUs
PSUs
RSUs
PSUs
Nonvested on January 1
0.7
0.2
$290.58
$287.51
Granted
0.3
0.1
385.68
334.24
Vested
(0.3)
(0.1)
277.40
254.47
Canceled or forfeited
(0.1)
337.17
Nonvested on December 31
0.6
0.2
$344.25
$333.06
On December 31, 2025 there was $100 of unrecognized
compensation cost related to nonvested RSUs. That cost is
expected to be recognized as expense over the weighted-
average period of approximately one year. The weighted-average
grant date fair value per share of RSUs granted was $385.68 and
$332.64 in 2025 and 2024. The fair value of RSUs and PSUs
vested in 2025 was $91 and $26. On December 31, 2025 there
was $26 of unrecognized compensation cost related to
nonvested PSUs. That cost is expected to be recognized as
expense over the weighted-average period of approximately one
year.
Employee Stock Purchase Plans (ESPP)
Employees may participate in our ESPP provided they meet
certain eligibility requirements. The purchase price for our
common stock under the terms of the ESPP is defined as 95% of
the closing stock price on the last trading day of a purchase
period. We issued 178,090 and 173,708 shares under the ESPP
in 2025 and 2024.
v3.25.4
Debt and Credit Facilities
12 Months Ended
Dec. 31, 2025
Long-Term Debt, Unclassified [Abstract]  
Debt And Credit Facilities DEBT AND CREDIT FACILITIES
We have lines of credit issued by various financial institutions that
are available to fund our day-to-day operating needs. Certain of
our credit facilities require us to comply with financial and other
covenants. We were in compliance with all covenants on
December 31, 2025.
In February 2025 we entered into a new revolving credit
agreement that replaces our previous agreement dated October
2021. The primary changes included increasing the aggregate
principal amount of the facility by $750 to $3,000 and extending
the maturity date to February 25, 2030. On December 31, 2025
there were no borrowings outstanding under our revolving credit
facility or our commercial paper program which allows for
maturities up to 397 days from the date of issuance. The
maximum amount of our commercial paper that can be
outstanding at any time is $3,000.
In February 2025 we issued $500 of 4.550% senior unsecured
notes due February 10, 2027, $700 of 4.700% senior unsecured
notes due February 10, 2028, $800 of 4.850% senior unsecured
notes due February 10, 2030 and $1,000 of 5.200% senior
unsecured notes due February 10, 2035. In June 2025 we repaid
$650 of 1.150% senior unsecured notes. In November 2025 we
repaid $750 of 3.375% senior unsecured notes. The following
table summarizes our total debt at December 31:
Summary of Total Debt
Rate
Due
2025
2024
Senior unsecured notes:
1.150%
June 15, 2025
$
$649
3.375%
November 1, 2025
750
3.500%
March 15, 2026
1,000
998
4.550%
February 10, 2027
498
2.125%
November 30, 2027
881
777
4.700%
February 10, 2028
697
3.650%
March 7, 2028
599
598
4.850%
December 8, 2028
597
596
3.375%
December 11, 2028
704
621
0.750%
March 1, 2029
939
828
4.250%
September 11, 2029
744
743
4.850%
February 10, 2030
794
1.950%
June 15, 2030
995
993
2.625%
November 30, 2030
759
669
1.000%
December 3, 2031
876
772
3.375%
September 11, 2032
934
824
4.625%
September 11, 2034
741
740
5.200%
February 10, 2035
990
3.625%
September 11, 2036
695
613
4.100%
April 1, 2043
393
393
4.375%
May 15, 2044
396
396
4.625%
March 15, 2046
984
984
2.900%
June 15, 2050
643
643
Other
10
Total debt
$15,859
$13,597
Less current maturities
1,000
1,409
Total long-term debt
$14,859
$12,188
Unamortized debt issuance costs
$70
$63
Borrowing capacity on existing facilities
$2,911
$2,160
Fair value of senior unsecured notes
$15,344
$12,780
The fair value of the senior unsecured notes was estimated using
quoted interest rates, maturities and amounts of borrowings
based on quoted active market prices and yields that took into
account the underlying terms of the debt instruments.
Substantially all of our debt is classified within Level 2 of the fair
value hierarchy.
Interest expense on outstanding debt and credit facilities,
including required fees incurred totaled $582, $396 and $356 in
2025, 2024 and 2023.
v3.25.4
Income Taxes
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
On January 1, 2025 we prospectively adopted ASU 2023-09
(Topic 740): Income Taxes: Improvements to Income Tax
Disclosures which expands the existing rules on income tax
disclosures. This update requires entities to disclose specific
categories in the tax rate reconciliation, provide additional
information for reconciling items that meet a quantitative
threshold and disclose additional information about income taxes
paid on an annual basis. In determining the reconciling items we
considered the effect of tax rulings as part of the statutory tax
rate.
Our effective tax rate was 28.1%, 14.3% and 13.8% for 2025,
2024 and 2023. The effective income tax rate for 2025 increased
from 2024 due to the 2025 tax effect of transfers of intellectual
property between tax jurisdictions and the 2024 tax effect of the
sale of the Spinal Implants business. The effective income tax
rate for 2024 increased from 2023 due to the 2023 tax effect of
transfers of intellectual property between tax jurisdictions offset
by the 2024 tax effect of the sale of the Spinal Implants business.
Effective Income Tax Rate Reconciliation
2025
Amount
Percent
United States federal statutory rate
$948
21.0%
State and Local Income Taxes, Net of Federal Income Tax
Effect(1)
173
3.8
Foreign Tax Effects
Ireland
Statutory tax rate difference
(177)
(3.9)
Other
17
0.4
Puerto Rico
Statutory tax rate difference
(49)
(1.1)
Withholding Tax
60
1.3
Expiration of credits carryforward
78
1.7
Change in valuation allowance
(78)
(1.7)
Other
(4)
(0.1)
Other foreign jurisdictions
20
0.4
Effect of changes in tax laws or rates enacted in the current
period
Effect of Cross-Border Tax Laws
Direct foreign tax credits
(90)
(2.0)
Global intangible low-taxed income
70
1.6
Tax Credits
Research and development tax credits
(53)
(1.2)
Changes in Valuation Allowances
Nontaxable or Nondeductible Items
Spinal Implants divestiture
(51)
(1.1)
Transfers of intellectual property
405
9.0
Changes in unrecognized Tax Benefits
17
0.4
Other Adjustments
(18)
(0.4)
Effective Tax Rate
$1,268
28.1%
(1) State taxes in Pennsylvania, New York, Illinois, Florida, California, Michigan,
Indiana, and Tennessee accounted for the majority (greater than 50%) of the tax
effect in this category.
Effective Income Tax Rate Reconciliation
2024
2023
United States federal statutory rate
21.0%
21.0%
United States state and local income taxes, less federal
deduction
1.1
1.1
Foreign income tax at rates other than 21%
(4.1)
(6.8)
Tax related to repatriation of foreign earnings
0.3
1.2
United States research and development credits
(1.4)
(1.2)
Intellectual property transfers
(3.3)
Goodwill impairment
2.8
Outside basis difference related to the anticipated sale of
the Spinal Implants business
(4.9)
Other
(0.5)
1.8
Effective income tax rate
14.3%
13.8%
Cash paid for income taxes (net of refunds received)
2025
United States - Federal
533
United States - State
71
Foreign
Ireland
175
Other
223
Subtotal
398
Total
$1,002
Earnings Before Income Taxes 
2025
2024
2023
United States
$1,434
$523
$701
International
3,080
2,969
2,972
Total
$4,514
$3,492
$3,673
Components of Income Tax Expense (Benefit)
Current income tax expense (benefit):
2025
2024
2023
United States federal
$414
$490
$236
United States state and local
149
90
48
International
313
289
430
Total current income tax expense
$876
$869
$714
Deferred income tax expense (benefit):
United States federal
$186
$(462)
$(212)
United States state and local
78
(76)
(20)
International
128
168
26
Total deferred income tax expense (benefit)
$392
$(370)
$(206)
Total income tax expense
$1,268
$499
$508
Interest included in interest expense was $18, $13, and $1 in
2025, 2024 and 2023. The United States federal deferred income
tax expense (benefit) includes the utilization of net operating loss
carryforwards of $32, $9 and $189 in 2025, 2024 and 2023.
Deferred Income Tax Assets and Liabilities
Deferred income tax assets:
2025
2024
Inventories
$553
$551
Other accrued expenses
401
207
Depreciation and amortization
546
715
State income taxes
90
167
Share-based compensation
117
100
Research and development capitalization
40
408
International interest expense carryforwards
56
52
Net operating loss and credit carryforwards
315
410
Outside basis difference related to the anticipated sale of
the Spinal Implants business
170
Other
352
310
Total deferred income tax assets
$2,470
$3,090
Less valuation allowances
(148)
(228)
Net deferred income tax assets
$2,322
$2,862
Deferred income tax liabilities:
Depreciation and amortization
$(1,222)
$(1,141)
Undistributed earnings
(139)
(61)
Total deferred income tax liabilities
$(1,361)
$(1,202)
Net deferred income tax assets
$961
$1,660
Reported as:
Noncurrent deferred income tax assets
$1,098
$1,742
Noncurrent liabilities—Other liabilities
(137)
(82)
Total
$961
$1,660
Accrued interest was $96 and $71 on December 31, 2025 and
2024 which was reported in accrued expenses and other
liabilities and other noncurrent liabilities.
United States federal loss carryforwards of $271, with $57 of
associated deferred tax asset and with $2 being subject to a
valuation allowance, begin to expire in 2026. United States state
loss carryforwards of $1,606, with $64 associated deferred tax
asset and with $33 being subject to a valuation allowance, begin
to expire in 2026. International loss carryforwards of $309, with
$67 of associated deferred tax asset and with $61 being subject
to a valuation allowance, begin to expire in 2026; however, some
have no expiration. We also have tax credit carryforwards of
$141 with $4 being subject to a full valuation allowance. The
credits with a full valuation allowance begin to expire in 2026.
We recorded deferred income tax on undistributed earnings of
foreign subsidiaries not determined to be indefinitely reinvested.
The amount of undistributed earnings of foreign subsidiaries
determined to be indefinitely reinvested at December 31, 2025
was approximately $11.7 billion. Determination of the total
amount of unrecognized deferred income tax on undistributed
earnings of foreign subsidiaries is not practicable.
Uncertain Income Tax Positions
 
2025
2024
Beginning uncertain tax positions
$349
$371
Increases related to current year income tax positions
19
18
Increases related to prior year income tax positions
12
Decreases related to prior year income tax positions
(4)
Settlements of income tax audits
(21)
Statute of limitations expirations and other
(4)
(3)
Foreign currency translation
27
(12)
Ending uncertain tax positions
$403
$349
Reported as:
Noncurrent liabilities—Income taxes
$403
$349
Our income tax expense would have been reduced by $279 and
$224 in 2025 and 2024 had our uncertain income tax positions
been favorably resolved. It is reasonably possible that the
amount of unrecognized tax benefits will significantly change due
to one or more of the following events in the next 12 months:
expiring statutes, audit activity, tax payments, competent
authority proceedings related to transfer pricing or final decisions
in matters that are the subject of controversy in various taxing
jurisdictions in which we operate, including inventory transfer
pricing, cost sharing, product royalty and foreign branch
arrangements. We are not able to reasonably estimate the
amount or the future periods in which changes in unrecognized
tax benefits may be resolved. Interest incurred associated with
uncertain tax positions is included in interest expense.
v3.25.4
Retirement Plans
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Retirement Plans RETIREMENT PLANS
Defined Contribution Plans
We provide certain employees with defined contribution plans
and other types of retirement plans. A portion of our retirement
plan expense under the defined contribution plans is funded with
Stryker common stock. The use of Stryker common stock
represents a non-cash operating activity that is not reflected in
our Consolidated Statements of Cash Flows.
2025
2024
2023
Plan expense
$399
$376
$327
Expense funded with Stryker common stock
72
62
57
Stryker common stock held by plan:
Dollar amount
$763
$781
$649
Shares (in millions)
2.2
2.2
2.2
Value as a percentage of total plan assets
8%
10%
10%
Defined Benefit Plans
Certain of our subsidiaries have both funded and unfunded
defined benefit pension plans covering some or all of their
employees. The majority of our defined benefit pension plans
have projected benefit obligations in excess of plan assets.
Discount Rate
The discount rates were selected using a hypothetical portfolio of
high quality bonds on December 31 that would provide the
necessary cash flows to match our projected benefit payments.
Expected Return on Plan Assets
The expected return on plan assets is determined by applying the
target allocation in each asset category of plan investments to the
anticipated return for each asset category based on historical and
projected returns.
Components of Net Periodic Pension Cost
Net periodic benefit cost:
2025
2024
2023
Service cost
$(42)
$(39)
$(32)
Interest cost
(24)
(21)
(23)
Expected return on plan assets
22
19
18
Amortization of prior service credit
2
1
1
Recognized actuarial gain (loss)
(2)
(1)
4
Net periodic benefit cost
$(44)
$(41)
$(32)
Changes in assets and benefit obligations
recognized in OCI:
Net actuarial gain (loss)
$93
$43
$(67)
Recognized net actuarial (gain) loss
2
1
(4)
Prior service credit and transition amount
(2)
(1)
(1)
Total recognized in other comprehensive
income (loss)
$93
$43
$(72)
Total recognized in net periodic benefit cost
and OCI
$49
$2
$(104)
Weighted-average rates used to determine net
periodic benefit cost:
Discount rate
2.9%
2.8%
3.3%
Expected return on plan assets
4.1%
4.3%
4.2%
Rate of compensation increase
2.9%
3.0%
3.0%
Weighted-average discount rate used to
determine projected benefit obligations
3.6%
2.9%
2.8%
The actuarial gain (loss) for all pension plans was primarily
related to a change in the discount rate used to measure the
benefit obligations of those plans.
Investment Strategy
The investment strategy for our defined benefit pension plans is
to meet the liabilities of the plans as they fall due and to
maximize the return on invested assets within appropriate risk
tolerances.
2025
2024
Fair value of plan assets
$560
$492
Benefit obligations
(829)
(782)
Funded status
$(269)
$(290)
Reported as:
Noncurrent assets—other assets
$72
$48
Current liabilities—accrued compensation
(5)
(3)
Noncurrent liabilities—other liabilities
(336)
(335)
Pre-tax amounts recognized in AOCI:
Unrecognized net actuarial gain (loss)
101
6
Unrecognized prior service credit
8
8
Total
$109
$14
Change in Benefit Obligations
2025
2024
Beginning projected benefit obligations
$782
$826
Service cost
42
39
Interest cost
24
21
Foreign exchange impact and other
114
(52)
Employee contributions
9
7
Actuarial (gains) losses
(116)
(40)
Benefits paid
(26)
(19)
Ending projected benefit obligations
$829
$782
Ending accumulated benefit obligations
$786
$748
Change in Plan Assets
2025
2024
Beginning fair value of plan assets
$492
$485
Actual return
(3)
22
Employer contributions
23
23
Employee contributions
9
7
Foreign exchange impact
60
(31)
Benefits paid
(21)
(14)
Ending fair value of plan assets
$560
$492
Allocation of Plan Assets
2026 Target
2025 Actual
2024 Actual
Equity securities
26%
32%
28%
Debt securities
41
39
40
Other
33
29
32
Total
100%
100%
100%
Valuation of Plan Assets
2025
Level 1
Level 2
Level 3
Total
Cash and cash equivalents
$16
$
$
$16
Equity securities
9
162
171
Debt securities
2
230
232
Other
4
83
54
141
Total
$31
$475
$54
$560
2024
Level 1
Level 2
Level 3
Total
Cash and cash equivalents
$17
$
$
$17
Equity securities
8
125
133
Debt securities
2
203
205
Other
4
76
57
137
Total
$31
$404
$57
$492
Our Level 3 pension plan assets primarily include guaranteed
investment contracts with insurance companies. The insurance
contracts guarantee us principal repayment and a fixed rate of
return. The $3 decrease in Level 3 pension plan assets is
primarily driven by the change in the corresponding pension
liability. We expect to contribute $24 to our defined benefit
pension plans in 2026.
Estimated Future Benefit Payments
2026
2027
2028
2029
2030
2031-2035
$29
$32
$33
$34
$38
$223
v3.25.4
Summary of Quarterly Data (Unaudited)
12 Months Ended
Dec. 31, 2025
Quarterly Financial Data [Abstract]  
Summary of Quarterly Data (Unaudited) SUMMARY OF QUARTERLY DATA (UNAUDITED)
2025 Quarters
Mar 31
Jun 30
Sep 30
Dec 31
Net sales
$5,866
$6,022
$6,057
$7,171
Gross profit
3,744
3,841
3,852
4,628
Earnings before income taxes
764
1,016
1,029
1,705
Net earnings
654
884
859
849
Net earnings per share of common stock:
Basic
$1.71
$2.32
$2.25
$2.21
Diluted
$1.69
$2.29
$2.22
$2.20
Dividends declared per share of
common stock
$0.84
$0.84
$0.84
$0.88
2024 Quarters
Mar 31
Jun 30
Sep 30
Dec 31
Net sales
$5,243
$5,422
$5,494
$6,436
Gross profit
3,333
3,416
3,517
4,174
Earnings before income taxes
923
998
1,043
528
Net earnings
788
825
834
546
Net earnings per share of common stock:
Basic
$2.07
$2.17
$2.18
$1.43
Diluted
$2.05
$2.14
$2.16
$1.41
Dividends declared per share of
common stock
$0.80
$0.80
$0.80
$0.84
v3.25.4
Segment and Geographic Data
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Data SEGMENT AND GEOGRAPHIC DATA
We segregate our operations into two reportable business
segments: (i) MedSurg and Neurotechnology and (ii)
Orthopaedics which aligns to our internal reporting structure and
how our Chief Operating Decision Maker (CODM) assesses
performance and allocates resources. The CODM is the Chief
Executive Officer. The CODM makes decisions on resource
allocation, assesses performance of the business, and monitors
budget versus actual results using segment operating income.
The Corporate and Other category shown in the table below
includes corporate and administration, corporate initiatives and
share-based compensation, which includes compensation related
to employee stock options, restricted stock units and
performance stock unit grants and director stock options and
restricted stock unit grants.
Segment Results
2025
2024
2023
MedSurg and Neurotechnology
$15,647
$13,518
$12,163
Orthopaedics
$9,469
9,077
8,335
Net sales
$25,116
$22,595
$20,498
MedSurg and Neurotechnology
$5,859
$5,320
$4,876
Orthopaedics
$2,570
2,400
2,254
Cost of sales
$8,429
$7,720
$7,130
MedSurg and Neurotechnology
$948
$784
$702
Orthopaedics
$524
540
508
Segment research, development and
engineering expenses
$1,472
$1,324
$1,210
MedSurg and Neurotechnology
$3,931
$3,203
$2,934
Orthopaedics
$3,132
3,111
2,922
Segment selling, general and administrative
expenses
$7,063
$6,314
$5,856
MedSurg and Neurotechnology
$237
$208
$181
Orthopaedics
423
433
386
Segment depreciation and amortization
$660
$641
$567
Corporate and Other
178
162
139
Amortization of intangible assets
732
623
635
Total depreciation and amortization
$1,570
$1,426
$1,341
MedSurg and Neurotechnology
$4,672
$4,004
$3,470
Orthopaedics
2,820
2,591
2,265
Segment operating income
$7,492
$6,595
$5,735
Items not allocated to segments:
Corporate and Other
$(889)
$(880)
$(780)
Inventory stepped up to fair value
(173)
(46)
Acquisition and integration-related charges
(335)
(108)
(20)
Amortization of intangible assets
(732)
(623)
(635)
Structural optimization and other special
charges
(191)
(138)
(170)
Goodwill and other impairments
(170)
(977)
(36)
Medical device regulation
(38)
(58)
(96)
Recall-related matters
(58)
(40)
(18)
Regulatory and legal matters
(17)
(36)
(92)
Consolidated operating income
$4,889
$3,689
$3,888
Segment Assets and Capital Spending
Assets:
2025
2024
MedSurg and Neurotechnology
$27,647
$23,115
Orthopaedics
18,641
18,507
Total segment assets
$46,288
$41,622
Corporate and Other
1,556
1,349
Total assets
$47,844
$42,971
Purchases of property, plant and
equipment:
2025
2024
2023
Orthopaedics
$296
$230
$179
MedSurg and Neurotechnology
220
276
183
Total segment purchases of property,
plant and equipment
$516
$506
$362
Corporate and Other
245
249
213
Total purchases of property, plant and
equipment
$761
$755
$575
We measure the financial results of our reportable segments
using an internal performance measure that excludes acquisition
and integration-related charges, structural optimization and other
special charges, goodwill and other impairments, reserves for
certain product recall matters and reserves for certain legal and
regulatory matters. Identifiable assets are those assets used
exclusively in the operations of each business segment or
allocated when used jointly. Corporate assets are principally
property, plant and equipment and noncurrent assets.
The countries in which we have local revenue generating
operations have been combined into the following geographic
areas: the United States; Europe, Middle East, Africa; Asia
Pacific; and other foreign countries, which include Canada and
countries in the Latin American region. Net sales are reported
based on the geographic area of the Stryker location where the
sales to the customer originated.
Geographic Information
Net Sales
Net Property, Plant
and Equipment
2025
2024
2023
2025
2024
United States
$19,006
$16,943
$15,257
$2,084
$1,997
Europe, Middle
East, Africa
3,181
2,897
2,618
1,562
1,260
Asia Pacific
2,164
2,020
1,946
97
75
Other countries
765
735
677
133
116
Total
$25,116
$22,595
$20,498
$3,876
$3,448
v3.25.4
Asset Impairments
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Asset Impairments ASSET IMPAIRMENTS
During 2025, 2024 and 2023 we recorded impairment charges of
$109, $159 and $36 to write off long-lived and intangible assets
excluding long-lived assets held for sale which included charges
related to certain product line exits
v3.25.4
Assets Held for Sale
12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Assets Held for Sale SALE OF SPINAL IMPLANTS BUSINESS
During the fourth quarter 2024 management committed to a plan
to sell certain assets associated with the Spinal Implants
business (disposal group) and such assets were classified as
held for sale beginning November 2024. As a result we recorded
a valuation allowance of $362 to record the disposal group at its
fair value less cost to sell within goodwill and other impairments
in our Consolidated Statements of Earnings.
In April 2025 we completed the sale of the disposal group to the
Viscogliosi Brothers, LLC. In the first half of 2025 we recognized
immaterial impairment charges to record the disposal group at its
fair value less cost to sell within goodwill and other impairments
in our Consolidated Statements of Earnings. The fair value of the
disposal group and consideration received was measured using a
discounted cash flow analysis based upon the selling price and
unobservable inputs, such as market conditions and the rate
used to discount the estimated future cash flows to their present
value based on factors including the disposal group’s cost of
equity and market yield rates, which are Level 3 inputs.
Consideration could increase by up to $57 or decrease by up to
$245 based on the amount received.
The assets associated with the disposal group are reported in our
Orthopaedics segment at December 31, 2024. The assets and
liabilities held for sale at December 31, 2024 are classified within
prepaid expenses and other current assets and accrued
expenses and other liabilities in our Consolidated Balance
Sheets. The assets and liabilities of the disposal group at the
date of sale and at December 31, 2024 were as follows:
Held for Sale
Date of Sale
December 31
2025
2024
Accounts receivable, net
$56
$62
Total inventories
195
183
Prepaid expenses and other current assets
27
10
Property, plant and equipment, net
53
51
Other intangibles, net
323
326
Noncurrent deferred income tax assets
9
9
Other noncurrent assets
179
171
Valuation allowance
(395)
(362)
Total assets
$447
$450
Accounts payable
$41
$28
Accrued compensation
20
26
Accrued expenses and other liabilities
24
29
Other noncurrent liabilities
27
21
Total liabilities
$112
$104
v3.25.4
Schedule II Valuation and Qualifying Accounts (Notes)
12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure
(a) 1.
Financial Statements
The following Consolidated Financial Statements are set forth in Part II, Item 8 of this report.
Report of Independent Registered Public Accounting Firm
Consolidated Statements of Earnings for 2025, 2024 and 2023
Consolidated Statements of Comprehensive Income for 2025, 2024 and 2023
Consolidated Balance Sheets on 2025 and 2024
Consolidated Statements of Shareholders’ Equity for 2025, 2024 and 2023
Consolidated Statements of Cash Flows for 2025, 2024 and 2023
Notes to Consolidated Financial Statements
(a) 2.
Financial Statement Schedules
The Consolidated Financial Statement schedule of Stryker Corporation and its subsidiaries is:
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
 
 
Additions
Deductions
 
Description
Balance at
Beginning
of Period
Charged to
Costs &
Expenses
Uncollectible
Amounts
Written Off,
Net of
Recoveries
Effect of
Changes in
Foreign
Currency
Exchange
Rates
Balance
at End
of Period
DEDUCTED FROM ASSET ACCOUNTS
Allowance for Doubtful Accounts:
Year ended December 31, 2025
$213
$95
$91
$1
$216
Year ended December 31, 2024
$182
$69
$36
$2
$213
Year ended December 31, 2023
$154
$69
$40
$1
$182
All other schedules for which provision is made in the applicable accounting regulation of the United States Securities and
Exchange Commission are not required under the related instructions or are inapplicable and, therefore, have been omitted.
(a) 3.
Exhibits
v3.25.4
Insider Trading Arrangements
3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] We review cybersecurity risk as part of our overall enterprise risk
management program. This ensures that cybersecurity risk
management remains a top priority in our business strategy and
operations.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Primary management responsibility for assessing, monitoring and
managing our cybersecurity risks rests with our chief information
security officer ("CISO"). Our current CISO has over 30 years of
experience in information technology and cybersecurity in the
United States military, retail and healthcare sectors and oversees
our team of cybersecurity professionals. The CISO is regularly
informed about recent developments in cybersecurity, including
potential threats and innovative risk management techniques.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Cybersecurity risks are overseen by the full Board of Directors
and the Audit Committee. The Audit Committee is central to the
Board of Directors’ oversight of cybersecurity risks and bears the
primary responsibility for overseeing cybersecurity risk. The Audit
Committee actively participates in strategic decisions related to
cybersecurity, offering guidance and approval for major
cybersecurity initiatives. This involvement ensures that
cybersecurity considerations are integrated into our broader
strategic objectives.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Cybersecurity risks are overseen by the full Board of Directors
and the Audit Committee. The Audit Committee is central to the
Board of Directors’ oversight of cybersecurity risks and bears the
primary responsibility for overseeing cybersecurity risk. The Audit
Committee actively participates in strategic decisions related to
cybersecurity, offering guidance and approval for major
cybersecurity initiatives. This involvement ensures that
cybersecurity considerations are integrated into our broader
strategic objectives.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our CISO provides comprehensive updates to the Audit
Committee at least three times a year and the full Board of
Directors periodically. These briefings include a range of topics,
including:
Current cybersecurity landscape and emerging threats;
Status of ongoing cybersecurity initiatives and strategies;
Incident reports and learnings from any cybersecurity events;
Metrics demonstrating company and industry-standard
prevention of common threats; and
Regulatory changes impacting cybersecurity requirements
and strategy.
Cybersecurity Risk Role of Management [Text Block] Primary management responsibility for assessing, monitoring and
managing our cybersecurity risks rests with our chief information
security officer ("CISO"). Our current CISO has over 30 years of
experience in information technology and cybersecurity in the
United States military, retail and healthcare sectors and oversees
our team of cybersecurity professionals. The CISO is regularly
informed about recent developments in cybersecurity, including
potential threats and innovative risk management techniques.
The CISO implements and oversees processes for the regular
monitoring of our information systems. We use various tools and
methodologies to manage cybersecurity risk that are tested
regularly. We also monitor and evaluate our cybersecurity
posture and performance on an ongoing basis through regular
vulnerability scans, penetration tests and threat intelligence
feeds. In addition, we engage third-party consultants to conduct
annual cybersecurity assessments and to conduct audits for
compliance with regulatory, Sarbanes-Oxley Act, Service
Organization Control Type 2 and International Organization for
Standardization standards. We also engage third parties to
assess our cybersecurity maturity and risk management
programs.
We use a cross-departmental approach to addressing
cybersecurity risk, with our cybersecurity, product security and
legal teams presenting quarterly on key topics to a committee of
leaders in technology, legal, finance, regulatory and corporate
affairs functions. This leadership committee meets quarterly to
ensure that we have input and oversight from critical
stakeholders into our cybersecurity program and evolving issues.
The CISO oversees a training and awareness program for
employees to take part in protecting the Company against
cybersecurity risks. We have implemented annual mandatory
security education to help employees understand cybersecurity
risks and comply with our cybersecurity policies. Additionally, we
provide frequent communications around pertinent cybersecurity
topics and policies to all employees. We also provide additional
cybersecurity and data protection training to employees in certain
roles.
As part of our cybersecurity risk management program, we also
conduct cybersecurity, data protection, and privacy assessments
on all third parties who integrate with Stryker’s data, network,
systems and products. We use a combination of internal and
external tools to confirm that these third parties meet our security
requirements. We leverage standard industry threat model and
privacy impact assessment concepts to confirm that data
minimization and adequate data protections are in place. We
perform supplemental reviews as necessary, commensurate with
the risk associated with each vendor.
In the event of a cybersecurity incident, we have an incident
response plan that includes immediate actions to mitigate the
impact and long-term strategies for remediation and prevention of
future incidents. The cybersecurity and product security teams
routinely practice this plan with functions across the organization.
We conduct tabletop exercises with senior management, during
which we practice the procedures in place to ensure that
potentially material cybersecurity risks and incidents are
escalated to management and the Board of Directors where
applicable.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Primary management responsibility for assessing, monitoring and
managing our cybersecurity risks rests with our chief information
security officer ("CISO")
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our current CISO has over 30 years of
experience in information technology and cybersecurity in the
United States military, retail and healthcare sectors and oversees
our team of cybersecurity professionals. The CISO is regularly
informed about recent developments in cybersecurity, including
potential threats and innovative risk management techniques.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The CISO oversees a training and awareness program for
employees to take part in protecting the Company against
cybersecurity risks. We have implemented annual mandatory
security education to help employees understand cybersecurity
risks and comply with our cybersecurity policies. Additionally, we
provide frequent communications around pertinent cybersecurity
topics and policies to all employees. We also provide additional
cybersecurity and data protection training to employees in certain
roles.
As part of our cybersecurity risk management program, we also
conduct cybersecurity, data protection, and privacy assessments
on all third parties who integrate with Stryker’s data, network,
systems and products. We use a combination of internal and
external tools to confirm that these third parties meet our security
requirements. We leverage standard industry threat model and
privacy impact assessment concepts to confirm that data
minimization and adequate data protections are in place. We
perform supplemental reviews as necessary, commensurate with
the risk associated with each vendor.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Significant Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Nature of Operations Stryker (the "Company," "we," "us," or
"our") is a global leader in medical technologies and, together
with our customers, we are driven to make healthcare better. We
offer innovative products and services in MedSurg,
Neurotechnology and Orthopaedics that help improve patient and
healthcare outcomes. Our products include surgical equipment
and surgical navigation systems; endoscopic and
communications systems; patient handling, emergency medical
equipment and intensive care disposable products; clinical
communication and artificial intelligence-assisted virtual care
platform technology; products for traditional brain and open skull-
based surgical procedures; minimally invasive products for the
treatment of acute ischemic and hemorrhagic stroke and venous
thromboembolism; implants used in joint replacement and trauma
surgeries; Mako robotic-arm assisted technology; as well as other
products used in a variety of medical specialties.
Basis of Presentation and Consolidation The Consolidated
Financial Statements include the Company and its subsidiaries.
All significant intercompany accounts and transactions are
eliminated in consolidation. We have no material interests in
variable interest entities. Certain prior year amounts have been
reclassified to conform with current year presentation in our
Consolidated Financial Statements.
Use of Estimates The preparation of financial statements in
conformity with accounting principles generally accepted in the
United States (GAAP) requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities on the
date of the financial statements and the reported amounts of net
sales and expenses in the reporting period. Actual results could
differ from those estimates.
Revenue Recognition Sales are recognized as the
performance obligations to deliver products or services (including
services under extended warranty service contracts) are satisfied
and are recorded based on the amount of consideration we
expect to receive in exchange for satisfying the performance
obligations. Our sales are recognized primarily when we transfer
control to the customer, which can be on the date of shipment,
the date of receipt by the customer or, for most Orthopaedics
products, when we have received a purchase order and
appropriate notification the product has been used or implanted.
Products and services are primarily transferred to customers at a
point in time, with some transfers of services taking place over
time.
Sales represent the amount of consideration we expect to receive
from customers in exchange for transferring products and
services. Net sales exclude sales, value added and other taxes
we collect from customers. Other costs to obtain and fulfill
contracts are generally expensed as incurred due to the short-
term nature of most of our sales. We extend terms of payment to
our customers based on commercially reasonable terms for the
markets of our customers, while also considering their credit
quality.
A provision for estimated sales returns, discounts and rebates is
recognized as a reduction of sales in the same period that the
sales are recognized. Our estimate of the provision for sales
returns has been established based on contract terms with our
customers and historical business practices and current trends.
Shipping and handling costs charged to customers are included
in net sales.
Cost of Sales Cost of sales include direct materials and
supplies consumed in the manufacture of product, as well as
manufacturing labor, depreciation expense and direct overhead
expense necessary to acquire and convert the purchased
materials and supplies into finished product. Cost of sales also
includes the cost to distribute products to customers, inbound
freight costs, warehousing costs and other shipping and handling
activity.
Research, Development and Engineering Expenses Research, development and engineering costs are charged to
expense as incurred and include research, development and
engineering activities relating to the development of new
products, improvement of existing products, technical support of
products and compliance with governmental regulations for the
protection of customers and patients. Costs primarily include
salaries, wages, consulting and depreciation and maintenance of
research facilities and equipment.
Selling, General and Administrative Expenses include
selling expenses, marketing expenses, administrative and other
indirect overhead costs, amortization of loaner instrumentation,
depreciation and amortization expense of non-manufacturing
assets and other miscellaneous operating items.
Currency Translation Financial statements of subsidiaries
outside the United States generally are measured using the local
currency as the functional currency. Adjustments to translate
those statements into United States Dollars are recorded in other
comprehensive income (OCI). Transactional exchange gains and
losses are included in other income.
Cash Equivalents Highly liquid investments with remaining
stated maturities of three months or less when purchased or
other money market instruments that are redeemable upon
demand are considered cash equivalents and recorded at cost.
Short-term Investments Short-term investments that have a
maturity greater than three months and less than a year from the
date of purchase primarily include time deposits, certificates of
deposit, commercial paper, bonds and notes, substantially all of
which are denominated in United States Dollars and are stated at
cost plus accrued interest, which approximates fair value. We
expect to hold all of our short-term investments to maturity.
Marketable Securities Marketable securities include marketable
debt securities and mutual funds. Mutual funds are acquired to
offset changes in certain liabilities related to deferred
compensation arrangements and are expected to be used to
settle these liabilities. Mutual funds are recognized in other
noncurrent assets. Pursuant to our investment policy, all
individual marketable security investments must have a minimum
credit quality of single A (Standard & Poor’s and Fitch) and A2
(Moody’s Corporation) at the time of acquisition, while the overall
portfolio of marketable securities must maintain a minimum
average credit quality of double A (Standard & Poor’s and Fitch)
or Aa (Moody’s Corporation). In the event of a rating downgrade
below the minimum credit quality subsequent to purchase, the
marketable security investment is evaluated to determine the
appropriate action to take to minimize the overall risk to our
marketable security investment portfolio. Our marketable
securities are classified as available-for-sale and trading
securities. Investments in trading securities represent participant-
directed investments of deferred employee compensation.
Accounts Receivable Accounts receivable include trade and
other miscellaneous receivables. An allowance is maintained for
doubtful accounts for estimated losses in the collection of
accounts receivable. Estimates are made regarding the ability of
customers to make required payments based on historical credit
experience, current market conditions and expected credit
losses. Accounts receivable are written off when all reasonable
collection efforts are exhausted.
Inventories Inventories are stated at the lower of cost or net
realizable value, with cost generally determined using the first-in,
first-out (FIFO) cost method. For excess and obsolete inventory
resulting from the potential inability to sell specific products at
prices in excess of current carrying costs, reserves are
maintained to reduce current carrying cost to net realizable value.
Financial Instruments Our financial instruments include cash,
cash equivalents, marketable securities, accounts receivable,
other investments, accounts payable, debt and foreign currency
exchange contracts. The carrying value of our financial
instruments, with the exception of our senior unsecured notes,
approximates fair value on December 31, 2025 and 2024. Refer
to Notes 3 and 10 for further details.
All marketable securities are recognized at fair value.
Adjustments to the fair value of marketable securities that are
classified as available-for-sale are recognized as increases or
decreases, net of income taxes, within accumulated other
comprehensive income (AOCI) in shareholders’ equity and
adjustments to the fair value of marketable securities that are
classified as trading are recognized in earnings. The amortized
cost of marketable debt securities is adjusted for amortization of
premiums and discounts to maturity computed under the effective
interest method. Such amortization, interest and realized gains
and losses are included in other income. The cost of securities
sold is determined by the specific identification method.
We review declines in the fair value of our investments classified
as available-for-sale to determine whether the decline in fair
value is a result of credit loss or other factors. Impairments of
available-for-sale marketable debt securities related to credit loss
are included in earnings and impairments related to other factors
are recognized within AOCI.
Derivatives All derivatives are recognized at fair value and
reported on a gross basis. We enter into forward currency
exchange contracts to mitigate the impact of currency fluctuations
on transactions denominated in nonfunctional currencies, thereby
limiting our risk that would otherwise result from changes in
exchange rates. The periods of the forward currency exchange
contracts correspond to the periods of the exposed transactions,
with realized gains and losses included in the measurement and
recording of transactions denominated in the nonfunctional
currencies. All forward currency exchange contracts are recorded
at their fair value each period.
Forward currency exchange contracts designated as cash flow
hedges are designed to hedge the variability of cash flows
associated with forecasted transactions denominated in a foreign
currency that will take place in the future. These nonfunctional
currency exposures principally relate to forecasted intercompany
sales and purchases of manufactured products and generally
have maturities up to eighteen months. Changes in value of
derivatives designated as cash flow hedges are recorded in AOCI
in shareholders’ equity until earnings are affected by the
variability of the underlying cash flows. At that time, the
applicable amount of gain or loss from the derivative instrument
that is deferred in shareholders’ equity is reclassified into
earnings and is included in cost of goods sold. Cash flows
associated with these hedges are included in cash provided by
operating activities in the same category as the cash flows from
the items being hedged.
Forward currency exchange contracts are used to offset our
exposure to the change in value of specific foreign currency
denominated assets and liabilities, primarily intercompany
payables and receivables. These derivatives are not designated
as hedges and, therefore, changes in the value of these forward
contracts are recognized in earnings, thereby offsetting the
current earnings effect of the related changes in value of foreign
currency denominated assets and liabilities. The estimated fair
value of our forward currency exchange contracts represents the
measurement of the contracts at month-end spot rates as
adjusted by current forward points.
From time to time, we designate derivative and non-derivative
financial instruments as net investment hedges of our
investments in certain international subsidiaries. For derivative
instruments that are designated and qualify as a net investment
hedge, the effective portion of the derivative's gain or loss is
recognized in OCI and reported as a component of AOCI. We
have elected to use the spot method to assess effectiveness for
our derivatives designated as net investment hedges.
Accordingly, the change in fair value attributable to changes in
the spot rate is recorded in AOCI. We exclude the spot-forward
difference from the assessment of hedge effectiveness and
amortize this amount separately on a straight-line basis over the
term of the forward contracts. This amortization is recognized in
other income.
From time to time, we designate forward starting interest rate
derivative instruments as cash flow hedges to manage the
exposure to interest rate volatility with regard to future issuance
and refinancing of debt. Changes in value of derivatives
designated as cash flow hedges are recorded in AOCI until
earnings are affected by the variability of the underlying cash
flows. At that time, the applicable amount of gain or loss from the
derivative instrument that is deferred in shareholders’ equity is
reclassified into earnings and is included in interest expense.
Interest rate derivative instruments designated as fair value
hedges have been used in the past to manage the exposure to
interest rate movements and to reduce borrowing costs by
converting fixed-rate debt into floating-rate debt. Under these
agreements, we agree to exchange, at specified intervals, the
difference between fixed and floating interest amounts calculated
by reference to an agreed-upon notional principal amount.
Property, Plant and Equipment Property, plant and equipment
is stated at cost. Depreciation is generally computed by the
straight-line method over the estimated useful lives of three to 30
years for buildings and improvements and three to 15 years for
machinery and equipment.
Goodwill and Other Intangible Assets Goodwill represents the
excess of purchase price over fair value of tangible net assets of
acquired businesses at the acquisition date, after amounts
allocated to other identifiable intangible assets. Factors that
contribute to the recognition of goodwill include synergies that are
specific to our business and not available to other market
participants and are expected to increase net sales and profits;
acquisition of a talented workforce; cost savings opportunities;
the strategic benefit of expanding our presence in core and
adjacent markets; and diversifying our product portfolio.
The fair values of other identifiable intangible assets acquired in a
business combination are primarily determined using the income
approach. Other intangible assets include, but are not limited to,
developed technologies, customer and distributor relationships
(which reflect expected continued customer or distributor
patronage) and trademarks and patents. Intangible assets with
determinable useful lives are amortized on a straight-line basis
over their estimated useful lives of four to 40 years. Certain
acquired trade names are considered to have indefinite lives and
are not amortized, but are assessed annually for potential
impairment as described below.
In some of our acquisitions, we acquire in-process research and
development (IPRD) intangible assets. For acquisitions
accounted for as business combinations IPRD is considered to
be an indefinite-lived intangible asset until the research is
completed (then it becomes a determinable-lived intangible
asset) or determined to have no future use (then it is impaired).
For asset acquisitions IPRD is expensed immediately unless
there is an alternative future use.
Goodwill, Intangibles and Long-Lived Asset Impairment Tests We perform our annual impairment test for goodwill as of
October 31 each year. We consider qualitative indicators of the
fair value of a reporting unit when it is unlikely that a reporting
unit has impaired goodwill and periodically corroborate that
assessment with quantitative information. In certain
circumstances, we may also utilize a discounted cash flow
analysis that requires certain assumptions and estimates be
made regarding market conditions and our future profitability.
Indefinite-lived intangible assets are also tested at least annually
for impairment by comparing the individual carrying values to the
fair value.
We review long-lived assets for indicators of impairment
whenever events or changes in circumstances indicate that the
carrying amount may not be recoverable. The evaluation is
performed at the lowest level of identifiable cash flows.
Undiscounted cash flows expected to be generated by the related
assets are estimated over the asset's useful life based on
updated projections. If the evaluation indicates that the carrying
amount of the asset may not be recoverable, any potential
impairment is measured based upon the fair value of the related
asset or asset group as determined by an appropriate market
appraisal or other valuation technique.
Assets And Liabilities Held For Sale We classify assets and
liabilities or disposal groups to be sold as held for sale in the
period in which all of the following criteria are met: management,
having the authority to approve the action, commits to a plan to
sell the disposal group; the disposal group is available for
immediate sale in its present condition subject only to terms that
are usual and customary for sales of such disposal groups; an
active program to locate a buyer and other actions required to
complete the plan to sell the disposal group have been initiated;
the sale of the disposal group is probable, and transfer of the
disposal group is expected to qualify for recognition as a
completed sale within one year, except if events or circumstances
beyond our control extend the period of time required to sell the
disposal group beyond one year; the disposal group is being
actively marketed for sale at a price that is reasonable in relation
to its current fair value; and actions required to complete the plan
indicate that it is unlikely that significant changes to the plan will
be made or that the plan will be withdrawn.
We initially measure a disposal group that is classified as held for
sale at the lower of its carrying value or fair value less any costs
to sell. Any loss resulting from this measurement is recognized in
the period in which the held for sale criteria are met. Conversely,
gains are not recognized on the sale of a disposal group until the
sale is completed. We assess the fair value of a disposal group,
less any costs to sell, each reporting period it remains classified
as held for sale and report any subsequent changes as an
adjustment to the carrying value of the disposal group, as long as
the new carrying value does not exceed the carrying value of the
disposal group at the time it was initially classified as held for
sale.
Upon determining that a disposal group meets the criteria to be
classified as held for sale, we cease depreciation and
amortization of the assets and disclose the major classes of
assets and liabilities of the disposal group in the Notes to the
Consolidated Financial Statements. Refer to Note 16 for further
information.
Share-Based Compensation hare-based compensation is in
the form of stock options, restricted stock units (RSUs) and
performance stock units (PSUs). Stock options are granted under
long-term incentive plans to certain key employees and non-
employee directors at an exercise price not less than the fair
market value of the underlying common stock, which is the
quoted closing price of our common stock on the day prior to the
date of grant. The options are granted for periods of up to 10
years and become exercisable in varying installments.
We grant RSUs to key employees and non-employee directors
and PSUs to certain key employees under our long-term
incentive plans. The fair value of RSUs is determined based on
the number of shares granted and the quoted closing price of our
common stock on the date of grant, adjusted for the fact that
RSUs do not include anticipated dividends. RSUs generally vest
in one-third increments over a three-year period and are settled
in stock. PSUs are earned over a three-year performance cycle
and vest in March of the year following the end of that
performance cycle. The number of PSUs that will ultimately be
earned is based on our performance relative to pre-established
goals in that three-year performance cycle. The fair value of
PSUs is determined based on the quoted closing price of our
common stock on the day of grant.
Compensation expense is recognized in the Consolidated
Statements of Earnings based on the estimated fair value of the
awards on the grant date. Compensation expense recognized
reflects an estimate of the number of awards expected to vest
after taking into consideration an estimate of award forfeitures
based on actual experience and is recognized on a straight-line
basis over the requisite service period, which is generally the
period required to obtain full vesting. Management expectations
related to the achievement of performance goals associated with
PSU grants is assessed regularly and that assessment is used to
determine whether PSU grants are expected to vest. If
performance-based milestones related to PSU grants are not met
or not expected to be met, any compensation expense
recognized associated with such grants will be reversed.
Income Taxes Deferred income tax assets and liabilities are
determined based on differences between financial reporting and
income tax bases of assets and liabilities and are measured
using the enacted income tax rates in effect for the years in which
the differences are expected to reverse. Deferred income tax
benefits generally represent the change in net deferred income
tax assets and liabilities in the year. Other amounts result from
adjustments related to acquisitions and foreign currency as
appropriate.
We operate in multiple income tax jurisdictions both within the
United States and internationally. Accordingly, management must
determine the appropriate allocation of income to each of these
jurisdictions based on current interpretations of complex income
tax regulations. Income tax authorities in these jurisdictions
regularly perform audits of our income tax filings. Income tax
audits associated with the allocation of this income and other
complex issues, including inventory transfer pricing and cost
sharing, product royalty and foreign branch arrangements, may
require an extended period of time to resolve and may result in
significant income tax adjustments if changes to the income
allocation are required between jurisdictions with different income
tax rates.
The Tax Cuts and Jobs Act (the Act) was enacted in 2017 in the
United States. The Act also subjects a United States shareholder
to tax on Global Intangible Low-Taxed Income (GILTI) earned by
certain foreign subsidiaries. We have elected to account for GILTI
tax in the year the tax is incurred.
New Accounting Pronouncements Not Yet Adopted and Accounting Pronouncements Recently Adopted New Accounting Pronouncements Not Yet Adopted
In December 2025 the Financial Accounting Standards Board
(FASB) issued ASU 2025-10 (Topic 832): Accounting for
Government Grants Received by Business Entities. This update
establishes guidance on the recognition, measurement and
presentation of government grants received by business entities
including grants related to the purchase, construction or
acquisition of an asset and grants related to income. The update
is effective for fiscal years beginning after December 15, 2028
including interim periods within those fiscal years. Early adoption
is permitted. We do not expect this ASU to have a significant 
impact on our Consolidated Financial Statements.
In September 2025 the FASB issued ASU 2025-07 (Topics 815
and 606): Derivatives and Hedging: Derivatives Scope
Refinements and Revenue from Contracts with Customers:
Scope Clarification for Share-Based Noncash Consideration from
a Customer in a Revenue Contract. This update expands the
scope exception in Topic 815 to certain nonexchange-traded
contracts for which settlement is based on operations or activities
specific to one of the parties to the contract. The update is
effective for fiscal years beginning after December 15, 2026
including interim periods within those fiscal years. Early adoption
is permitted. We are evaluating if the ASU will have an impact on
our Consolidated Financial Statements.
In September 2025 the FASB issued ASU 2025-06 (Subtopic
350-40): Intangibles - Goodwill and Other - Internal-Use
Software: Targeted Improvements to the Accounting for Internal-
Use Software. This update clarifies and modernizes the
accounting for costs related to internal-use software by removing
all references to project stages and clarifying that the probable-
to-complete threshold is not met if significant development
uncertainty exists. The update is effective for fiscal years
beginning after December 15, 2027 including interim periods
within those fiscal years. Early adoption is permitted. We do not
expect this ASU to have a significant  impact on our Consolidated
Financial Statements.
In July 2025 the FASB issued ASU 2025-05 (Topic 326):
Financial Instruments - Credit Losses: Measurement of Credit
Losses for Accounts Receivable and Contract Assets. This
update provides a practical expedient allowing entities to assume
that current conditions as of the balance sheet date will remain
unchanged for the remaining life of the asset when estimating
expected credit losses for current accounts receivable and
current contract assets arising from transactions accounting for
under Accounting Standards Codification 606, Revenue from
Contracts with Customers. The update is effective for fiscal years
beginning after December 15, 2025 including interim periods
within those fiscal years. Early adoption is permitted. We are
evaluating if the ASU will have an impact on our Consolidated
Financial Statements.
In November 2024 the FASB issued ASU 2024-03 (Subtopic
220-40): Income Statement: Reporting Comprehensive Income -
Expense Disaggregation Disclosures which requires
disaggregation of certain expense captions into specified
categories in disclosures within the Notes to the Consolidated
Financial Statements. The new disclosure requirements are
effective for fiscal years beginning after December 15, 2026 and
interim periods within fiscal years beginning after December 15,
2027. Early adoption is permitted. We are evaluating these new
expanded disclosure requirements.
We evaluate all ASUs issued by the FASB for consideration of
their applicability. ASUs not included in our disclosures were
assessed and determined to be either not applicable or are not
expected to have a material impact on our Consolidated Financial
Statements.
Accounting Pronouncements Recently Adopted
We adopted ASU 2023-09 (Topic 740): Income Taxes:
Improvements to Income Tax Disclosures for the annual period
beginning on January 1, 2025. Refer to Note 11 for further
information.
v3.25.4
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2025
Revenue Recognition [Abstract]  
Schedule of Disaggregated Revenue
Segment Net Sales
MedSurg and Neurotechnology:
2025
2024
2023
Instruments
$3,183
$2,834
$2,534
Endoscopy
3,807
3,389
3,068
Medical
4,204
3,852
3,459
Vascular
1,968
1,307
1,226
Neuro Cranial
2,485
2,136
1,876
$15,647
$13,518
$12,163
Orthopaedics:
Knees
$2,656
$2,447
$2,273
Hips
1,865
1,704
1,544
Trauma and Extremities
3,948
3,507
3,147
Spinal Implants
185
707
713
Other
815
712
658
$9,469
$9,077
$8,335
Total
$25,116
$22,595
$20,498
United States Net Sales
MedSurg and Neurotechnology:
2025
2024
2023
Instruments
$2,562
$2,267
$2,016
Endoscopy
3,133
2,792
2,513
Medical
3,510
3,191
2,785
Vascular
1,048
506
483
Neuro Cranial
2,052
1,761
1,531
$12,305
$10,517
$9,328
Orthopaedics:
Knees
$1,924
$1,788
$1,676
Hips
1,137
1,059
988
Trauma and Extremities
2,926
2,586
2,297
Spinal Implants
118
489
500
Other
596
504
468
$6,701
$6,426
$5,929
Total
$19,006
$16,943
$15,257
International Net Sales
MedSurg and Neurotechnology:
2025
2024
2023
Instruments
$621
$567
$518
Endoscopy
674
597
555
Medical
694
661
674
Vascular
920
801
743
Neuro Cranial
433
375
345
$3,342
$3,001
$2,835
Orthopaedics:
Knees
$732
$659
$597
Hips
728
645
556
Trauma and Extremities
1,022
921
850
Spinal Implants
67
218
213
Other
219
208
190
$2,768
$2,651
$2,406
Total
$6,110
$5,652
$5,241
Changes in Contract Liabilities Changes in
contract liabilities during the year were as follows:
2025
2024
Beginning contract liabilities
$978
$860
Revenue recognized from beginning of year contract
liabilities
(546)
(553)
Net advance consideration received during the period
592
671
Ending contract liabilities
$1,024
$978
v3.25.4
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets Measured at Fair Value
2025
2024
Cash and cash equivalents
$4,011
$3,652
Short-term investments
750
Trading marketable securities
307
259
Level 1 - Assets
$4,318
$4,661
Available-for-sale marketable securities:
Corporate and asset-backed debt securities
$52
$53
United States agency debt securities
1
United States treasury debt securities
37
34
Certificates of deposit
3
Total available-for-sale marketable securities
$89
$91
Foreign currency exchange forward contracts
46
225
Level 2 - Assets
$135
$316
Total assets measured at fair value
$4,453
$4,977
Liabilities Measured at Fair Value
2025
2024
Deferred compensation arrangements
$307
$259
Level 1 - Liabilities
$307
$259
Foreign currency exchange forward contracts
$170
$77
Level 2 - Liabilities
$170
$77
Contingent consideration:
Beginning
$452
$289
Additions
123
208
Change in estimate and foreign exchange
24
8
Settlements
(81)
(53)
Ending
$518
$452
Level 3 - Liabilities
$518
$452
Total liabilities measured at fair value
$995
$788
Available-for-sale Securities
Fair Value of Available for Sale Securities by Maturity
2025
2024
Due in one year or less
$41
$47
Due after one year through three years
$48
$44
v3.25.4
Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
2025
Cash Flow
Net
Investment
Non-
Designated
Total
Gross notional amount
$1,738
$2,647
$4,391
$8,776
Maximum term in years
8.7
Fair value:
Other current assets
$33
$
$11
$44
Other noncurrent assets
2
2
Other current liabilities
(10)
(71)
(21)
(102)
Other noncurrent
liabilities
(2)
(66)
(68)
Total fair value
$23
$(137)
$(10)
$(124)
2024
Cash Flow
Net
Investment
Non-
Designated
Total
Gross notional amount
$1,588
$2,338
$5,164
$9,090
Maximum term in years
9.7
Fair value:
Other current assets
$43
$24
$119
$186
Other noncurrent assets
4
35
39
Other current liabilities
(29)
(41)
(70)
Other noncurrent
liabilities
(3)
(4)
(7)
Total fair value
$15
$55
$78
$148
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
Currency Exchange Rate Gains (Losses) Recognized in Net
Earnings
Derivative Instrument
Recognized in:
2025
2024
2023
Cash Flow
Cost of sales
$25
$31
$39
Net Investment
Other income
44
35
34
Non-Designated
Other income
33
40
25
Total
$102
$106
$98
v3.25.4
Accumulated Other Comprehensive (Loss) Income (AOCI) (Tables)
12 Months Ended
Dec. 31, 2025
Reclassification Adjustments Out of Accumulated Other Comprehensive Income (AOCI) [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
Pension
Plans
Hedges
Financial
Statement
Translation
Total
2023
$(28)
$39
$(427)
$(416)
OCI
43
26
236
305
Income taxes
(11)
(7)
(110)
(128)
Reclassifications to:
Cost of sales
(31)
(31)
Interest expense
(4)
(4)
Other income
(35)
(35)
Income taxes
8
8
16
Net OCI
$32
$(8)
$99
$123
2024
$4
$31
$(328)
$(293)
OCI
93
37
(562)
(432)
Income taxes
(27)
(4)
125
94
Reclassifications to:
Cost of sales
(25)
(25)
Interest expense
(3)
(3)
Other income
(44)
(44)
Income taxes
6
10
16
Net OCI
$66
$11
$(471)
$(394)
2025
$70
$42
$(799)
$(687)
v3.25.4
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
Allocation Of The Preliminary Purchase Price To The Acquired Net Assets Of Acquisitions The purchase price allocations for Inari and the acquisitions
completed in the full year 2024 are:
Purchase Price Allocation of Acquired Net Assets
2025
2024
Inari
Total
Tangible assets acquired:
Accounts receivable
$78
$40
Inventory
215
99
Deferred income tax assets
59
49
Other assets
84
26
Debt
(32)
Deferred income tax liabilities
(486)
(204)
Other liabilities
(191)
(107)
Intangible assets:
Developed technologies
1,458
596
Customer relationships
330
215
Patents
6
Trademarks
2
Other intangibles
72
Goodwill
3,191
1,146
Purchase price, net of cash acquired of
$64 and $56
$4,810
$1,836
Weighted-average amortization period at
acquisition (years):
Developed technologies
13
12
Customer relationships
13
14
Patents
12
Trademarks
5
Other intangibles
9
v3.25.4
Contingencies and Commitments (Tables)
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Lease, Cost
2025
2024
Right-of-use assets
$519
$516
Lease liabilities, current
$153
$144
Lease liabilities, noncurrent
$348
$379
Other information:
Weighted-average remaining lease term (years)
5.0
5.1
Weighted-average discount rate
3.77%
3.87%
Future Purchase Obligations and Minimum Lease Payments
2026
2027
2028
2029
2030
Thereafter
Debt repayments
$1,000
$1,382
$2,606
$1,691
$2,565
$6,729
Minimum lease payments
$164
$125
$87
$55
$38
$55
Supplier Finance Program
2025
2024
Beginning confirmed obligations
$71
$51
Additions
420
392
Settlements
(416)
(372)
Ending confirmed obligations
$75
$71
v3.25.4
Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the Net Carrying Amount of Goodwill by Segment
Changes in the Net Carrying Value of Goodwill by Segment
MedSurg and
Neurotechnology
Orthopaedics
Total
2023
$8,270
$6,973
$15,243
Goodwill impairment
(456)
(456)
Additions and adjustments
852
300
1,152
Foreign exchange and other
86
(170)
(84)
2024
$9,208
$6,647
$15,855
Additions and adjustments
3,275
(1)
3,274
Foreign exchange and other
73
89
162
2025
$12,556
$6,735
$19,291
Summary of the Company's Other Intangible Assets
Summary of Other Intangible Assets
Gross
Carrying
Amount
Less
Accumulated
Amortization
Net
Carrying
Amount
Developed technologies
2025
$7,273
$3,430
$3,843
2024
5,698
2,931
2,767
Customer relationships
2025
$3,425
$1,844
$1,581
2024
3,055
1,636
1,419
Patents
2025
$157
$144
$13
2024
153
136
17
Trademarks
2025
$420
$281
$139
2024
413
256
157
In-process research and development
2025
$34
$
$34
2024
34
34
Other
2025
$132
$61
$71
2024
63
62
1
Total
2025
$11,441
$5,760
$5,681
2024
9,416
5,021
4,395
Estimated Amortization Expense
Estimated Amortization Expense
2026
2027
2028
2029
2030
$699
$711
$631
$616
$597
v3.25.4
Capital Stock (Tables)
12 Months Ended
Dec. 31, 2025
Capital Stock [Abstract]  
Schedule of Fair Value Assumptions
Option Value and Assumptions
2025
2024
2023
Weighted-average fair value per share
$141.40
$118.22
$83.59
Assumptions:
Risk-free interest rate
4.4%
4.3%
4.0%
Expected dividend yield
0.9%
1.1%
1.2%
Expected stock price volatility
29.1%
29.9%
29.0%
Expected option life (years)
6.4
6.3
6.2
Summary of Stock Option Activity
2025 Stock Option Activity
Shares
(in millions)
Weighted-
Average
Exercise 
Price
Weighted-
Average
Remaining
Term (in years)
Aggregate
Intrinsic
Value
Outstanding
January 1
10.8
$214.87
Granted
1.0
392.36
Exercised
(1.2)
158.83
Canceled or
forfeited
(0.2)
313.05
Outstanding
December 31
10.4
$234.56
5.0
$1,246.1
Exercisable
December 31
6.9
$195.53
3.7
$1,073.4
Options expected
to vest
3.3
$309.91
7.5
$166.7
Summary of RSU and PSU Activity
Restricted Stock Units (RSUs) and Performance Stock Units
(PSUs) Activity
Shares
(in millions)
Weighted-Average
Grant Date Fair Value
RSUs
PSUs
RSUs
PSUs
Nonvested on January 1
0.7
0.2
$290.58
$287.51
Granted
0.3
0.1
385.68
334.24
Vested
(0.3)
(0.1)
277.40
254.47
Canceled or forfeited
(0.1)
337.17
Nonvested on December 31
0.6
0.2
$344.25
$333.06
v3.25.4
Debt and Credit Facilities (Tables)
12 Months Ended
Dec. 31, 2025
Long-Term Debt, Unclassified [Abstract]  
Maturities Of Long-Term Debt Disclosures
Summary of Total Debt
Rate
Due
2025
2024
Senior unsecured notes:
1.150%
June 15, 2025
$
$649
3.375%
November 1, 2025
750
3.500%
March 15, 2026
1,000
998
4.550%
February 10, 2027
498
2.125%
November 30, 2027
881
777
4.700%
February 10, 2028
697
3.650%
March 7, 2028
599
598
4.850%
December 8, 2028
597
596
3.375%
December 11, 2028
704
621
0.750%
March 1, 2029
939
828
4.250%
September 11, 2029
744
743
4.850%
February 10, 2030
794
1.950%
June 15, 2030
995
993
2.625%
November 30, 2030
759
669
1.000%
December 3, 2031
876
772
3.375%
September 11, 2032
934
824
4.625%
September 11, 2034
741
740
5.200%
February 10, 2035
990
3.625%
September 11, 2036
695
613
4.100%
April 1, 2043
393
393
4.375%
May 15, 2044
396
396
4.625%
March 15, 2046
984
984
2.900%
June 15, 2050
643
643
Other
10
Total debt
$15,859
$13,597
Less current maturities
1,000
1,409
Total long-term debt
$14,859
$12,188
Unamortized debt issuance costs
$70
$63
Borrowing capacity on existing facilities
$2,911
$2,160
Fair value of senior unsecured notes
$15,344
$12,780
v3.25.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of U.S. Statutory Income Tax Rate to Company's Effective Income Tax Rate from Continuing Operations
Effective Income Tax Rate Reconciliation
2025
Amount
Percent
United States federal statutory rate
$948
21.0%
State and Local Income Taxes, Net of Federal Income Tax
Effect(1)
173
3.8
Foreign Tax Effects
Ireland
Statutory tax rate difference
(177)
(3.9)
Other
17
0.4
Puerto Rico
Statutory tax rate difference
(49)
(1.1)
Withholding Tax
60
1.3
Expiration of credits carryforward
78
1.7
Change in valuation allowance
(78)
(1.7)
Other
(4)
(0.1)
Other foreign jurisdictions
20
0.4
Effect of changes in tax laws or rates enacted in the current
period
Effect of Cross-Border Tax Laws
Direct foreign tax credits
(90)
(2.0)
Global intangible low-taxed income
70
1.6
Tax Credits
Research and development tax credits
(53)
(1.2)
Changes in Valuation Allowances
Nontaxable or Nondeductible Items
Spinal Implants divestiture
(51)
(1.1)
Transfers of intellectual property
405
9.0
Changes in unrecognized Tax Benefits
17
0.4
Other Adjustments
(18)
(0.4)
Effective Tax Rate
$1,268
28.1%
(1) State taxes in Pennsylvania, New York, Illinois, Florida, California, Michigan,
Indiana, and Tennessee accounted for the majority (greater than 50%) of the tax
effect in this category.
Effective Income Tax Rate Reconciliation
2024
2023
United States federal statutory rate
21.0%
21.0%
United States state and local income taxes, less federal
deduction
1.1
1.1
Foreign income tax at rates other than 21%
(4.1)
(6.8)
Tax related to repatriation of foreign earnings
0.3
1.2
United States research and development credits
(1.4)
(1.2)
Intellectual property transfers
(3.3)
Goodwill impairment
2.8
Outside basis difference related to the anticipated sale of
the Spinal Implants business
(4.9)
Other
(0.5)
1.8
Effective income tax rate
14.3%
13.8%
Cash Paid for Income Taxes (Net of Refunds)
Cash paid for income taxes (net of refunds received)
2025
United States - Federal
533
United States - State
71
Foreign
Ireland
175
Other
223
Subtotal
398
Total
$1,002
Schedule of Provision for Income Taxes
Earnings Before Income Taxes 
2025
2024
2023
United States
$1,434
$523
$701
International
3,080
2,969
2,972
Total
$4,514
$3,492
$3,673
Components of Income Tax Expense (Benefit)
Current income tax expense (benefit):
2025
2024
2023
United States federal
$414
$490
$236
United States state and local
149
90
48
International
313
289
430
Total current income tax expense
$876
$869
$714
Deferred income tax expense (benefit):
United States federal
$186
$(462)
$(212)
United States state and local
78
(76)
(20)
International
128
168
26
Total deferred income tax expense (benefit)
$392
$(370)
$(206)
Total income tax expense
$1,268
$499
$508
Schedule of Difference in Income Tax Effects Comprising Company's Deferred Income Tax Assets and Liabilities
Deferred Income Tax Assets and Liabilities
Deferred income tax assets:
2025
2024
Inventories
$553
$551
Other accrued expenses
401
207
Depreciation and amortization
546
715
State income taxes
90
167
Share-based compensation
117
100
Research and development capitalization
40
408
International interest expense carryforwards
56
52
Net operating loss and credit carryforwards
315
410
Outside basis difference related to the anticipated sale of
the Spinal Implants business
170
Other
352
310
Total deferred income tax assets
$2,470
$3,090
Less valuation allowances
(148)
(228)
Net deferred income tax assets
$2,322
$2,862
Deferred income tax liabilities:
Depreciation and amortization
$(1,222)
$(1,141)
Undistributed earnings
(139)
(61)
Total deferred income tax liabilities
$(1,361)
$(1,202)
Net deferred income tax assets
$961
$1,660
Reported as:
Noncurrent deferred income tax assets
$1,098
$1,742
Noncurrent liabilities—Other liabilities
(137)
(82)
Total
$961
$1,660
Schedule of Unrecognized Tax Benefits Roll Forward
Uncertain Income Tax Positions
 
2025
2024
Beginning uncertain tax positions
$349
$371
Increases related to current year income tax positions
19
18
Increases related to prior year income tax positions
12
Decreases related to prior year income tax positions
(4)
Settlements of income tax audits
(21)
Statute of limitations expirations and other
(4)
(3)
Foreign currency translation
27
(12)
Ending uncertain tax positions
$403
$349
Reported as:
Noncurrent liabilities—Income taxes
$403
$349
v3.25.4
Retirement Plans (Tables)
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Defined Contribution Plan Disclosures
2025
2024
2023
Plan expense
$399
$376
$327
Expense funded with Stryker common stock
72
62
57
Stryker common stock held by plan:
Dollar amount
$763
$781
$649
Shares (in millions)
2.2
2.2
2.2
Value as a percentage of total plan assets
8%
10%
10%
Schedule of Costs of Retirement Plans
Components of Net Periodic Pension Cost
Net periodic benefit cost:
2025
2024
2023
Service cost
$(42)
$(39)
$(32)
Interest cost
(24)
(21)
(23)
Expected return on plan assets
22
19
18
Amortization of prior service credit
2
1
1
Recognized actuarial gain (loss)
(2)
(1)
4
Net periodic benefit cost
$(44)
$(41)
$(32)
Changes in assets and benefit obligations
recognized in OCI:
Net actuarial gain (loss)
$93
$43
$(67)
Recognized net actuarial (gain) loss
2
1
(4)
Prior service credit and transition amount
(2)
(1)
(1)
Total recognized in other comprehensive
income (loss)
$93
$43
$(72)
Total recognized in net periodic benefit cost
and OCI
$49
$2
$(104)
Weighted-average rates used to determine net
periodic benefit cost:
Discount rate
2.9%
2.8%
3.3%
Expected return on plan assets
4.1%
4.3%
4.2%
Rate of compensation increase
2.9%
3.0%
3.0%
Weighted-average discount rate used to
determine projected benefit obligations
3.6%
2.9%
2.8%
Schedule of Defined Benefit Plans Disclosures
2025
2024
Fair value of plan assets
$560
$492
Benefit obligations
(829)
(782)
Funded status
$(269)
$(290)
Reported as:
Noncurrent assets—other assets
$72
$48
Current liabilities—accrued compensation
(5)
(3)
Noncurrent liabilities—other liabilities
(336)
(335)
Pre-tax amounts recognized in AOCI:
Unrecognized net actuarial gain (loss)
101
6
Unrecognized prior service credit
8
8
Total
$109
$14
Schedule of Changes in Accumulated Postemployment Benefit Obligations
Change in Benefit Obligations
2025
2024
Beginning projected benefit obligations
$782
$826
Service cost
42
39
Interest cost
24
21
Foreign exchange impact and other
114
(52)
Employee contributions
9
7
Actuarial (gains) losses
(116)
(40)
Benefits paid
(26)
(19)
Ending projected benefit obligations
$829
$782
Ending accumulated benefit obligations
$786
$748
Schedule of Changes in Fair Value of Plan Assets
Change in Plan Assets
2025
2024
Beginning fair value of plan assets
$492
$485
Actual return
(3)
22
Employer contributions
23
23
Employee contributions
9
7
Foreign exchange impact
60
(31)
Benefits paid
(21)
(14)
Ending fair value of plan assets
$560
$492
Valuation of Plan Assets
2025
Level 1
Level 2
Level 3
Total
Cash and cash equivalents
$16
$
$
$16
Equity securities
9
162
171
Debt securities
2
230
232
Other
4
83
54
141
Total
$31
$475
$54
$560
2024
Level 1
Level 2
Level 3
Total
Cash and cash equivalents
$17
$
$
$17
Equity securities
8
125
133
Debt securities
2
203
205
Other
4
76
57
137
Total
$31
$404
$57
$492
Schedule of Allocation of Plan Assets
Allocation of Plan Assets
2026 Target
2025 Actual
2024 Actual
Equity securities
26%
32%
28%
Debt securities
41
39
40
Other
33
29
32
Total
100%
100%
100%
Schedule of Expected Benefit Payments
Estimated Future Benefit Payments
2026
2027
2028
2029
2030
2031-2035
$29
$32
$33
$34
$38
$223
v3.25.4
Summary of Quarterly Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2025
Quarterly Financial Data [Abstract]  
Summary of Quarterly Data
2025 Quarters
Mar 31
Jun 30
Sep 30
Dec 31
Net sales
$5,866
$6,022
$6,057
$7,171
Gross profit
3,744
3,841
3,852
4,628
Earnings before income taxes
764
1,016
1,029
1,705
Net earnings
654
884
859
849
Net earnings per share of common stock:
Basic
$1.71
$2.32
$2.25
$2.21
Diluted
$1.69
$2.29
$2.22
$2.20
Dividends declared per share of
common stock
$0.84
$0.84
$0.84
$0.88
2024 Quarters
Mar 31
Jun 30
Sep 30
Dec 31
Net sales
$5,243
$5,422
$5,494
$6,436
Gross profit
3,333
3,416
3,517
4,174
Earnings before income taxes
923
998
1,043
528
Net earnings
788
825
834
546
Net earnings per share of common stock:
Basic
$2.07
$2.17
$2.18
$1.43
Diluted
$2.05
$2.14
$2.16
$1.41
Dividends declared per share of
common stock
$0.80
$0.80
$0.80
$0.84
v3.25.4
Segment and Geographic Data (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Segment Results
2025
2024
2023
MedSurg and Neurotechnology
$15,647
$13,518
$12,163
Orthopaedics
$9,469
9,077
8,335
Net sales
$25,116
$22,595
$20,498
MedSurg and Neurotechnology
$5,859
$5,320
$4,876
Orthopaedics
$2,570
2,400
2,254
Cost of sales
$8,429
$7,720
$7,130
MedSurg and Neurotechnology
$948
$784
$702
Orthopaedics
$524
540
508
Segment research, development and
engineering expenses
$1,472
$1,324
$1,210
MedSurg and Neurotechnology
$3,931
$3,203
$2,934
Orthopaedics
$3,132
3,111
2,922
Segment selling, general and administrative
expenses
$7,063
$6,314
$5,856
MedSurg and Neurotechnology
$237
$208
$181
Orthopaedics
423
433
386
Segment depreciation and amortization
$660
$641
$567
Corporate and Other
178
162
139
Amortization of intangible assets
732
623
635
Total depreciation and amortization
$1,570
$1,426
$1,341
MedSurg and Neurotechnology
$4,672
$4,004
$3,470
Orthopaedics
2,820
2,591
2,265
Segment operating income
$7,492
$6,595
$5,735
Items not allocated to segments:
Corporate and Other
$(889)
$(880)
$(780)
Inventory stepped up to fair value
(173)
(46)
Acquisition and integration-related charges
(335)
(108)
(20)
Amortization of intangible assets
(732)
(623)
(635)
Structural optimization and other special
charges
(191)
(138)
(170)
Goodwill and other impairments
(170)
(977)
(36)
Medical device regulation
(38)
(58)
(96)
Recall-related matters
(58)
(40)
(18)
Regulatory and legal matters
(17)
(36)
(92)
Consolidated operating income
$4,889
$3,689
$3,888
Sales and Other Financial Information by Business Segment
Segment Assets and Capital Spending
Assets:
2025
2024
MedSurg and Neurotechnology
$27,647
$23,115
Orthopaedics
18,641
18,507
Total segment assets
$46,288
$41,622
Corporate and Other
1,556
1,349
Total assets
$47,844
$42,971
Purchases of property, plant and
equipment:
2025
2024
2023
Orthopaedics
$296
$230
$179
MedSurg and Neurotechnology
220
276
183
Total segment purchases of property,
plant and equipment
$516
$506
$362
Corporate and Other
245
249
213
Total purchases of property, plant and
equipment
$761
$755
$575
Geographic Information on Net Sales and Long-Lived Assets
Geographic Information
Net Sales
Net Property, Plant
and Equipment
2025
2024
2023
2025
2024
United States
$19,006
$16,943
$15,257
$2,084
$1,997
Europe, Middle
East, Africa
3,181
2,897
2,618
1,562
1,260
Asia Pacific
2,164
2,020
1,946
97
75
Other countries
765
735
677
133
116
Total
$25,116
$22,595
$20,498
$3,876
$3,448
v3.25.4
Assets Held for Sale (Tables)
12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations The assets and
liabilities held for sale at December 31, 2024 are classified within
prepaid expenses and other current assets and accrued
expenses and other liabilities in our Consolidated Balance
Sheets. The assets and liabilities of the disposal group at the
date of sale and at December 31, 2024 were as follows:
Held for Sale
Date of Sale
December 31
2025
2024
Accounts receivable, net
$56
$62
Total inventories
195
183
Prepaid expenses and other current assets
27
10
Property, plant and equipment, net
53
51
Other intangibles, net
323
326
Noncurrent deferred income tax assets
9
9
Other noncurrent assets
179
171
Valuation allowance
(395)
(362)
Total assets
$447
$450
Accounts payable
$41
$28
Accrued compensation
20
26
Accrued expenses and other liabilities
24
29
Other noncurrent liabilities
27
21
Total liabilities
$112
$104
v3.25.4
Significant Accounting Policies (Details)
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Line Items]  
Derivative term (up to) 18 months
Employee Stock Option  
Property, Plant and Equipment [Line Items]  
Expiration period 10 years
Restricted Stock Units (RSUs)  
Property, Plant and Equipment [Line Items]  
Vesting period 3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage 33.33%
Performance Stock Units (PSUs)  
Property, Plant and Equipment [Line Items]  
Performance period 3 years
Minimum  
Property, Plant and Equipment [Line Items]  
Finite-lived intangible asset, useful life 4 years
Maximum  
Property, Plant and Equipment [Line Items]  
Finite-lived intangible asset, useful life 40 years
Building and Improvements | Minimum  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment useful life 3 years
Building and Improvements | Maximum  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment useful life 30 years
Machinery and Equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment useful life 3 years
Machinery and Equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment useful life 15 years
v3.25.4
Revenue Recognition - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]                      
Percentage of sales recognized as services over time (less than)                 10.00%    
Net sales $ 7,171 $ 6,057 $ 6,022 $ 5,866 $ 6,436 $ 5,494 $ 5,422 $ 5,243 $ 25,116 $ 22,595 $ 20,498
Contract liabilities $ 1,024       $ 978       $ 1,024 $ 978 $ 860
Customer Lease Agreements | Revenue Benchmark | Product Concentration Risk                      
Disaggregation of Revenue [Line Items]                      
Concentration risk, percentage                 4.00% 4.00% 4.00%
v3.25.4
Revenue Recognition - Disaggregated Sales Analysis (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]                      
Net sales $ 7,171 $ 6,057 $ 6,022 $ 5,866 $ 6,436 $ 5,494 $ 5,422 $ 5,243 $ 25,116 $ 22,595 $ 20,498
United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 19,006 16,943 15,257
International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 6,110 5,652 5,241
MedSurg and Neurotechnology                      
Disaggregation of Revenue [Line Items]                      
Net sales                 15,647 13,518 12,163
MedSurg and Neurotechnology | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 12,305 10,517 9,328
MedSurg and Neurotechnology | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,342 3,001 2,835
MedSurg and Neurotechnology | Instruments                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,183 2,834 2,534
MedSurg and Neurotechnology | Instruments | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,562 2,267 2,016
MedSurg and Neurotechnology | Instruments | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 621 567 518
MedSurg and Neurotechnology | Endoscopy                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,807 3,389 3,068
MedSurg and Neurotechnology | Endoscopy | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,133 2,792 2,513
MedSurg and Neurotechnology | Endoscopy | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 674 597 555
MedSurg and Neurotechnology | Medical                      
Disaggregation of Revenue [Line Items]                      
Net sales                 4,204 3,852 3,459
MedSurg and Neurotechnology | Medical | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,510 3,191 2,785
MedSurg and Neurotechnology | Medical | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 694 661 674
MedSurg and Neurotechnology | Neurovascular                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,968 1,307 1,226
MedSurg and Neurotechnology | Neurovascular | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,048 506 483
MedSurg and Neurotechnology | Neurovascular | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 920 801 743
MedSurg and Neurotechnology | Neuro Cranial                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,485 2,136 1,876
MedSurg and Neurotechnology | Neuro Cranial | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,052 1,761 1,531
MedSurg and Neurotechnology | Neuro Cranial | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 433 375 345
Orthopaedics                      
Disaggregation of Revenue [Line Items]                      
Net sales                 9,469 9,077 8,335
Orthopaedics | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 6,701 6,426 5,929
Orthopaedics | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,768 2,651 2,406
Orthopaedics | Other                      
Disaggregation of Revenue [Line Items]                      
Net sales                 815 712 658
Orthopaedics | Other | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 596 504 468
Orthopaedics | Other | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 219 208 190
Orthopaedics | Knees                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,656 2,447 2,273
Orthopaedics | Knees | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,924 1,788 1,676
Orthopaedics | Knees | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 732 659 597
Orthopaedics | Hips                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,865 1,704 1,544
Orthopaedics | Hips | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,137 1,059 988
Orthopaedics | Hips | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 728 645 556
Orthopaedics | Trauma and Extremities                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,948 3,507 3,147
Orthopaedics | Trauma and Extremities | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,926 2,586 2,297
Orthopaedics | Trauma and Extremities | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,022 921 850
Orthopaedics | Spine                      
Disaggregation of Revenue [Line Items]                      
Net sales                 185 707 713
Orthopaedics | Spine | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 118 489 500
Orthopaedics | Spine | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 $ 67 $ 218 $ 213
v3.25.4
Revenue Recognition - Changes in Contract Liabilities (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Movement In Contract Liabilities [Roll Forward]    
Beginning contract liabilities $ 978 $ 860
Revenue recognized from beginning of year contract liabilities (546) (553)
Net advance consideration received during the period 592 671
Ending contract liabilities $ 1,024 $ 978
v3.25.4
Fair Value Measurements (Valuation Of Financial Instruments By Pricing Categories) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Assets    
Available-for-sale marketable securities: $ 89 $ 91
Total assets measured at fair value 4,453 4,977
Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]    
Total liabilities measured at fair value 995 788
(Level 1)    
Assets    
Available-for-sale marketable securities 4,011 3,652
Short-term investments 0 750
Trading marketable securities 307 259
Total assets measured at fair value 4,318 4,661
Liabilities:    
Deferred compensation arrangements 307 259
Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]    
Total liabilities measured at fair value 307 259
(Level 2)    
Assets    
Available-for-sale marketable securities: 89 91
Total assets measured at fair value 135 316
Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]    
Total liabilities measured at fair value 170 77
(Level 2) | Corporate and asset-backed debt securities    
Assets    
Available-for-sale marketable securities: 52 53
(Level 2) | United States agency debt securities    
Assets    
Available-for-sale marketable securities: 0 1
(Level 2) | United States treasury debt securities    
Assets    
Available-for-sale marketable securities: 37 34
(Level 2) | Certificates of deposit    
Assets    
Available-for-sale marketable securities: 0 3
(Level 2) | Foreign currency exchange forward contracts    
Assets    
Foreign currency exchange forward contracts 46 225
Interest rate swap asset 46 225
Liabilities:    
Foreign currency exchange forward contracts 170 77
(Level 3)    
Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]    
Beginning 452 289
Additions 123 208
Change in estimate and foreign exchange 24 8
Settlements (81) (53)
Ending 518 452
Total liabilities measured at fair value $ 518 $ 452
v3.25.4
Fair Value Measurements (Available-For-Sale Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value Disclosures [Abstract]    
Due in one year or less $ 41 $ 47
Due after one year through three years $ 48 $ 44
v3.25.4
Fair Value Measurements (Narrative) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Reduction of contingent consideration   $ 90    
Interest income $ 121 $ 139 $ 75  
Cerus        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair value of contingent consideration       $ 208
v3.25.4
Derivative Instruments (Forward Currency Exchange Contracts) (Details) - Foreign currency exchange forward contracts
$ in Millions, € in Billions
12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2025
EUR (€)
Derivative [Line Items]      
Notional amount $ 8,776 $ 9,090  
Maximum term 8 years 8 months 12 days 9 years 8 months 12 days  
Derivative, fair value, net $ (124) $ 148  
Other current assets      
Derivative [Line Items]      
Derivative asset 44 186  
Other noncurrent assets      
Derivative [Line Items]      
Derivative asset 2 39  
Other current liabilities      
Derivative [Line Items]      
Derivative liability (102) (70)  
Other noncurrent liabilities      
Derivative [Line Items]      
Derivative liability (68) (7)  
Designated as Hedging Instrument | Other noncurrent liabilities      
Derivative [Line Items]      
Derivative liability   (4)  
Not Designated as Hedging Instrument      
Derivative [Line Items]      
Notional amount 4,391 5,164  
Derivative, fair value, net (10) 78  
Not Designated as Hedging Instrument | Other current assets      
Derivative [Line Items]      
Derivative asset 11 119  
Not Designated as Hedging Instrument | Other noncurrent assets      
Derivative [Line Items]      
Derivative asset 0 0  
Not Designated as Hedging Instrument | Other current liabilities      
Derivative [Line Items]      
Derivative liability (21) (41)  
Not Designated as Hedging Instrument | Other noncurrent liabilities      
Derivative [Line Items]      
Derivative liability 0 0  
Cash Flow Hedging | Designated as Hedging Instrument      
Derivative [Line Items]      
Notional amount 1,738 1,588  
Derivative, fair value, net 23 15  
Cash Flow Hedging | Designated as Hedging Instrument | Other current assets      
Derivative [Line Items]      
Derivative asset 33 43  
Cash Flow Hedging | Designated as Hedging Instrument | Other noncurrent assets      
Derivative [Line Items]      
Derivative asset 2 4  
Cash Flow Hedging | Designated as Hedging Instrument | Other current liabilities      
Derivative [Line Items]      
Derivative liability (10) (29)  
Cash Flow Hedging | Designated as Hedging Instrument | Other noncurrent liabilities      
Derivative [Line Items]      
Derivative liability (2) (3)  
Net Investment Hedging | Designated as Hedging Instrument      
Derivative [Line Items]      
Notional amount 2,647 2,338 € 2.3
Derivative, fair value, net (137) 55  
Net Investment Hedging | Designated as Hedging Instrument | Other current assets      
Derivative [Line Items]      
Derivative asset 0 24  
Net Investment Hedging | Designated as Hedging Instrument | Other noncurrent assets      
Derivative [Line Items]      
Derivative asset 0 35  
Net Investment Hedging | Designated as Hedging Instrument | Other current liabilities      
Derivative [Line Items]      
Derivative liability (71) $ 0  
Net Investment Hedging | Designated as Hedging Instrument | Other noncurrent liabilities      
Derivative [Line Items]      
Derivative liability $ (66)    
v3.25.4
Derivative Instruments (Narrative) (Details)
$ in Millions, € in Billions
12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2025
EUR (€)
Dec. 31, 2024
USD ($)
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative term (up to) 18 months    
Foreign currency exchange forward contracts      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount $ 8,776   $ 9,090
Derivative term (up to) 8 years 8 months 12 days    
Designated as Hedging Instrument | Foreign currency exchange forward contracts      
Derivative Instruments, Gain (Loss) [Line Items]      
After-tax gain (loss) recognized in AOCI related to designated net investment hedges $ (715)    
Cash flow hedge gain (loss) to be reclassified within twelve months 39    
Net investment hedges expected to be reclassified to cost of sales and other income (expense) 38    
Designated as Hedging Instrument | Foreign currency exchange forward contracts | Net Investment Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount 2,647 € 2.3 $ 2,338
Designated as Hedging Instrument | Interest rate swap      
Derivative Instruments, Gain (Loss) [Line Items]      
Cash flow hedge gain (loss) to be reclassified within twelve months $ 5    
Designated as Hedging Instrument | Embedded Derivative Financial Instruments | Net Investment Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount | €   € 5.0  
v3.25.4
Derivative Instruments (Movements out of OCI) (Details) - Foreign currency exchange forward contracts - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]      
Foreign currency transaction gains (losses) $ 102 $ 106 $ 98
Cost of sales      
Derivative [Line Items]      
Foreign currency transaction gains (losses) 25 31 39
Designated as Hedging Instrument      
Derivative [Line Items]      
Derivatives used in Net Investment Hedge, Gain (Loss), Reclassified to Earnings, Net of Tax 38    
Designated as Hedging Instrument | Other Income (expense) [Member]      
Derivative [Line Items]      
Foreign currency transaction gains (losses) 44 35 34
Not Designated as Hedging Instrument | Other Income (expense) [Member]      
Derivative [Line Items]      
Foreign currency transaction gains (losses) $ 33 $ 40 $ 25
v3.25.4
Accumulated Other Comprehensive (Loss) Income (AOCI) (Schedule of Amounts Recognized in Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance $ 20,634 $ 18,593  
OCI (432) 305  
Income taxes 94 (128)  
Cost of sales 9,051 8,155 $ 7,440
Interest expense 607 409 363
Other income 232 212 148
Income taxes 1,268 499 508
Other comprehensive income (loss) (394) 123 (195)
Ending balance 22,420 20,634 18,593
Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales (25) (31)  
Interest expense (3) (4)  
Other income (44) (35)  
Income taxes 16 16  
Other comprehensive income (loss) (394) 123  
Pension Plans      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance 4 (28)  
OCI 93 43  
Income taxes (27) (11)  
Ending balance 70 4 (28)
Pension Plans | Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales 0 0  
Interest expense 0 0  
Other income 0 0  
Income taxes 0 0  
Other comprehensive income (loss) 66 32  
Hedges      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance 31 39  
OCI 37 26  
Income taxes (4) (7)  
Ending balance 42 31 39
Hedges | Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales (25) (31)  
Interest expense (3) (4)  
Other income 0 0  
Income taxes 6 8  
Other comprehensive income (loss) 11 (8)  
Financial Statement Translation      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance (328) (427)  
OCI (562) 236  
Income taxes 125 (110)  
Ending balance (799) (328) (427)
Financial Statement Translation | Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales 0 0  
Interest expense 0  
Other income (44) (35)  
Income taxes 10 8  
Other comprehensive income (loss) (471) 99  
AOCI Including Portion Attributable to Noncontrolling Interest      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance (293) (416)  
Ending balance $ (687) $ (293) $ (416)
v3.25.4
Acquisitions (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
1 Months Ended 12 Months Ended
Feb. 28, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Cash paid for acquisitions, net of cash acquired   $ 4,960 $ 1,628 $ 390
Inari        
Business Combination [Line Items]        
Business acquisition, share price (in dollars per share) $ 80      
Aggregate purchase price of acquisitions $ 4,810      
Share-based awards, expense   $ 139    
Various        
Business Combination [Line Items]        
Cash paid for acquisitions, net of cash acquired     1,628  
Fair value of contingent consideration     400  
Fair value of contingent milestone payments     $ 208  
v3.25.4
Acquisitions (Allocation Of The Preliminary Purchase Price To The Acquired Net Assets Of Acquisitions) (Details) - USD ($)
$ in Millions
12 Months Ended
May 02, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Goodwill   $ 19,291 $ 15,855 $ 15,243
Inari        
Business Combination [Line Items]        
Accounts receivable   78    
Inventory   215    
Deferred income tax assets   59    
Other assets   84    
Debt   0    
Deferred income tax liabilities   (486)    
Other liabilities   (191)    
Goodwill   3,191    
Purchase price, net of cash acquired of $64 and $56   4,810    
Cash acquired from acquisition   64    
Inari | Developed technologies        
Business Combination [Line Items]        
Intangible assets:   $ 1,458    
Weighted-average amortization period at acquisition (years):   13 years    
Inari | Customer relationships        
Business Combination [Line Items]        
Intangible assets:   $ 330    
Weighted-average amortization period at acquisition (years):   13 years    
Inari | Patents        
Business Combination [Line Items]        
Intangible assets:   $ 0    
Inari | Trademarks        
Business Combination [Line Items]        
Intangible assets:   0    
Inari | Other        
Business Combination [Line Items]        
Intangible assets:   $ 72    
Weighted-average amortization period at acquisition (years):   9 years    
Various        
Business Combination [Line Items]        
Accounts receivable     40  
Inventory     99  
Deferred income tax assets     49  
Other assets     26  
Debt     (32)  
Deferred income tax liabilities     (204)  
Other liabilities     (107)  
Goodwill     1,146  
Purchase price, net of cash acquired of $64 and $56     1,836  
Cash acquired from acquisition $ 56      
Various | Developed technologies        
Business Combination [Line Items]        
Intangible assets:     $ 596  
Weighted-average amortization period at acquisition (years):     12 years  
Various | Customer relationships        
Business Combination [Line Items]        
Intangible assets:     $ 215  
Weighted-average amortization period at acquisition (years):     14 years  
Various | Patents        
Business Combination [Line Items]        
Intangible assets:     $ 6  
Weighted-average amortization period at acquisition (years):     12 years  
Various | Trademarks        
Business Combination [Line Items]        
Intangible assets:     $ 2  
Weighted-average amortization period at acquisition (years):     5 years  
Various | Other        
Business Combination [Line Items]        
Intangible assets:     $ 0  
v3.25.4
Contingencies and Commitments (Narrative) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loss Contingencies [Line Items]      
Lease expense $ 205 $ 190 $ 172
Recall Matters      
Loss Contingencies [Line Items]      
Estimate of possible loss $ 144    
v3.25.4
Commitments and Contingencies (Lease Cost) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Right-of-use assets $ 519 $ 516
Lease liabilities, current 153 144
Lease liabilities, noncurrent $ 348 $ 379
Weighted-average remaining lease term (years) 5 years 5 years 1 month 6 days
Weighted-average discount rate 3.77% 3.87%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other Assets, Noncurrent Other Assets, Noncurrent
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other Liabilities, Current Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other noncurrent liabilities Other noncurrent liabilities
v3.25.4
Contingencies and Commitments (Future Purchase Obligations and Minimum Lease Payments) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2026 $ 1,000
2027 1,382
2028 2,606
2029 1,691
2030 2,565
Thereafter 6,729
Minimum lease payments  
2026 164
2027 125
2028 87
2029 55
2030 38
Thereafter $ 55
v3.25.4
Contingencies and Commitments (Supplier Finance Program) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Supplier Finance Program, Obligation [Roll Forward]    
Beginning confirmed obligations $ 71 $ 51
Additions 420 392
Settlements (416) (372)
Ending confirmed obligations $ 75 $ 71
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] Accounts Payable, Trade, Current  
v3.25.4
Goodwill and Other Intangible Assets (Goodwill) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Oct. 31, 2025
Goodwill [Line Items]      
Goodwill, impairment loss   $ 456  
Percentage of fair value in excess of carrying amount     12.00%
Goodwill [Roll Forward]      
Goodwill, Beginning balance $ 15,855 15,243  
Additions and adjustments 3,274 1,152  
Foreign exchange and other 162 (84)  
Goodwill impairment   (456)  
Goodwill, Ending balance 19,291 $ 15,855  
Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration]   Goodwill and other impairments  
MedSurg and Neurotechnology      
Goodwill [Line Items]      
Goodwill, impairment loss   $ 0  
Goodwill [Roll Forward]      
Goodwill, Beginning balance 9,208 8,270  
Additions and adjustments 3,275 852  
Foreign exchange and other 73 86  
Goodwill impairment   0  
Goodwill, Ending balance 12,556 $ 9,208  
Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration]   Goodwill and other impairments  
Orthopaedics      
Goodwill [Line Items]      
Goodwill, impairment loss   $ 456  
Goodwill [Roll Forward]      
Goodwill, Beginning balance 6,647 6,973  
Additions and adjustments (1) 300  
Foreign exchange and other 89 (170)  
Goodwill impairment   (456)  
Goodwill, Ending balance 6,735 $ 6,647  
Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration]   Goodwill and other impairments  
Spinal Implants | Disposal Group, Held-for-Sale, Not Discontinued Operations      
Goodwill [Line Items]      
Goodwill, impairment loss 183    
Goodwill [Roll Forward]      
Goodwill impairment $ (183)    
Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration] Goodwill and other impairments    
Spine Reporting Unit      
Goodwill [Line Items]      
Goodwill, impairment loss $ 273    
Goodwill [Roll Forward]      
Goodwill impairment (273)    
MedSurg and Neurotechnology      
Goodwill [Line Items]      
Goodwill transfer   $ 117  
Orthopaedics      
Goodwill [Line Items]      
Goodwill transfer   $ (117)  
Peripheral Vascular Reporting Unit      
Goodwill [Roll Forward]      
Goodwill, Ending balance $ 3,203    
v3.25.4
Goodwill and Other Intangible Assets (Summary of the Company's Other Intangible Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross Carrying Amount $ 11,441 $ 9,416
Less Accumulated Amortization 5,760 5,021
Net Carrying Amount 5,681 4,395
Developed technologies    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross Carrying Amount 7,273 5,698
Less Accumulated Amortization 3,430 2,931
Net Carrying Amount 3,843 2,767
Customer relationships    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross Carrying Amount 3,425 3,055
Less Accumulated Amortization 1,844 1,636
Net Carrying Amount 1,581 1,419
Patents    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross Carrying Amount 157 153
Less Accumulated Amortization 144 136
Net Carrying Amount 13 17
Trademarks    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross Carrying Amount 420 413
Less Accumulated Amortization 281 256
Net Carrying Amount 139 157
In-process research and development    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross Carrying Amount 34 34
Less Accumulated Amortization 0 0
Net Carrying Amount 34 34
Other    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross Carrying Amount 132 63
Less Accumulated Amortization 61 62
Net Carrying Amount $ 71 $ 1
v3.25.4
Goodwill and Other Intangible Assets (Estimated Amortization Expense) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 699
2027 711
2028 631
2029 616
2030 $ 597
v3.25.4
Capital Stock (Narrative) (Details)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
class_of_stock
$ / shares
shares
Dec. 31, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
Capital Stock [Line Items]      
Common and Preferred Stock, shares authorized (in shares) | shares 1,000,500,000    
Classes of common stock | class_of_stock 2    
Preferred stock, shares authorized | shares 500,000    
Preferred stock, par per share | $ / shares $ 1    
Common stock, authorized (in shares) | shares 1,000,000,000    
Common stock, par value (in dollars per share) | $ / shares $ 0.10 $ 0.10  
Preferred stock, outstanding (in shares) | shares 0    
Remaining shares authorized to be repurchased $ 1,033    
Capital shares reserved for future issuance | shares 31,000,000 18,000,000  
Aggregate intrinsic value of options exercised $ 260 $ 362 $ 318
Options exercised during period, exercise price range, lower range limit | $ / shares $ 96.64    
Options exercised during period, exercise price range, upper range limit | $ / shares $ 392.39    
Compensation cost not yet recognized $ 160    
Compensation cost not yet recognized, period for recognized 1 year 6 months    
Restricted Stock Units (RSUs)      
Capital Stock [Line Items]      
Compensation cost not yet recognized $ 100    
Compensation cost not yet recognized, period for recognized 1 year    
Weighted average grant date fair value, Granted (in dollars per share) | $ / shares $ 385.68 $ 332.64  
Shares vested during the period $ 91    
Performance Stock Units (PSUs)      
Capital Stock [Line Items]      
Compensation cost not yet recognized $ 26    
Compensation cost not yet recognized, period for recognized 1 year    
Weighted average grant date fair value, Granted (in dollars per share) | $ / shares $ 334.24    
Shares vested during the period $ 26    
Employee Stock Purchase Plans      
Capital Stock [Line Items]      
Percentage of closing stock price under ESPP 95.00%    
Shares issued under the ESPP | shares 178,090 173,708  
v3.25.4
Capital Stock (Option Grant Assumptions) (Details) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Capital Stock [Abstract]      
Weighted-average fair value per share $ 141.40 $ 118.22 $ 83.59
Risk-free interest rate 4.40% 4.30% 4.00%
Expected dividend yield 0.90% 1.10% 1.20%
Expected stock price volatility 29.10% 29.90% 29.00%
Expected option life (years) 6 years 4 months 24 days 6 years 3 months 18 days 6 years 2 months 12 days
v3.25.4
Capital Stock (Summary of Stock Option Activity) (Details)
$ / shares in Units, shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Shares, Options outstanding at January 1 (in shares) | shares 10.8
Shares, Granted (in shares) | shares 1.0
Shares, Exercised (in shares) | shares (1.2)
Shares, Cancelled or forfeited (in shares) | shares (0.2)
Shares, Options outstanding at December 31 (in shares) | shares 10.4
Shares, Exercisable at December 31 (in shares) | shares 6.9
Shares, Options expected to vest (in shares) | shares 3.3
Weighted-Average Exercise Price  
Weighted average exercise price, Options outstanding at January 1 (in dollars per share) | $ / shares $ 214.87
Weighted average exercise price, Granted (in dollars per share) | $ / shares 392.36
Weighted average exercise price, Exercised (in dollars per share) | $ / shares 158.83
Weighted average exercise price, Cancelled or forfeited (in dollars per share) | $ / shares 313.05
Weighted average exercise price, Options outstanding at December 31 (in dollars per share) | $ / shares 234.56
Weighted average exercise price, Exercisable at December 31 (in dollars per share) | $ / shares 195.53
Weighted average exercise price, Options expected to vest (in dollars per share) | $ / shares $ 309.91
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]  
Weighted-average remaining contractual term, Options outstanding (in years) 5 years
Weighted-average remaining contractual term, Exercisable (in years) 3 years 8 months 12 days
Weighted-average remaining contractual term, Options expected to vest (in years) 7 years 6 months
Aggregate intrinsic value, Options outstanding | $ $ 1,246.1
Aggregate intrinsic value, Exercisable | $ 1,073.4
Aggregate intrinsic value, Options expected to vest | $ $ 166.7
v3.25.4
Capital Stock (Summary of RSU and PSU Activity) (Details) - $ / shares
shares in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Restricted Stock Units (RSUs)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]    
Shares, Nonvested at January 1 (in shares) 0.7  
Shares, Granted (in shares) 0.3  
Shares, Vested (in shares) (0.3)  
Shares, Cancelled (in shares) (0.1)  
Shares, Nonvested at December 31 (in shares) 0.6 0.7
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]    
Weighted average grant date fair value, Outstanding at January 1 (in dollars per share) $ 290.58  
Weighted average grant date fair value, Granted (in dollars per share) 385.68 $ 332.64
Weighted average grant date fair value, Vested (in dollars per share) 277.40  
Weighted average grant date fair value, Cancelled (in dollars per share) 337.17  
Weighted average grant date fair value, Outstanding at December 31 (in dollars per share) $ 344.25 $ 290.58
Performance Stock Units (PSUs)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]    
Shares, Nonvested at January 1 (in shares) 0.2  
Shares, Granted (in shares) 0.1  
Shares, Vested (in shares) (0.1)  
Shares, Cancelled (in shares) 0.0  
Shares, Nonvested at December 31 (in shares) 0.2 0.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]    
Weighted average grant date fair value, Outstanding at January 1 (in dollars per share) $ 287.51  
Weighted average grant date fair value, Granted (in dollars per share) 334.24  
Weighted average grant date fair value, Vested (in dollars per share) 254.47  
Weighted average grant date fair value, Cancelled (in dollars per share) 0  
Weighted average grant date fair value, Outstanding at December 31 (in dollars per share) $ 333.06 $ 287.51
v3.25.4
Debt and Credit Facilities (Narrative) (Details) - USD ($)
1 Months Ended 12 Months Ended
Nov. 30, 2025
Jun. 30, 2025
Feb. 28, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Line of Credit Facility [Line Items]            
Commercial paper       $ 0    
Interest expense, debt       582,000,000 $ 396,000,000 $ 356,000,000
Repayments of long-term debt       1,400,000,000 $ 2,039,000,000 $ 2,058,000,000
Revolving Credit Facility            
Line of Credit Facility [Line Items]            
Line of Credit Facility, Increase In Maximum Borrowing Capacity     $ 750,000,000      
Line of Credit Facility, Maximum Borrowing Capacity     3,000,000,000      
Credit facility outstanding amount       $ 0    
Senior Unsecured Notes 4.850% Due 2028            
Line of Credit Facility [Line Items]            
Stated interest rate       4.85%    
Senior Unsecured Notes 4.850% Due 2028 | Senior Notes            
Line of Credit Facility [Line Items]            
Debt face amount     $ 800,000,000      
Stated interest rate     4.85%      
Senior Unsecured Notes, 3.375% Due 2028            
Line of Credit Facility [Line Items]            
Stated interest rate       3.375%    
Senior Unsecured Notes, 4.250% Due 2029            
Line of Credit Facility [Line Items]            
Stated interest rate       4.25%    
Senior Unsecured Notes 3.375% due 2025            
Line of Credit Facility [Line Items]            
Stated interest rate 3.375%       3.375%  
Repayments of long-term debt $ 750,000,000          
Senior Unsecured Notes 4.625% due 2046            
Line of Credit Facility [Line Items]            
Stated interest rate       4.625%    
3.625% Notes due 2036            
Line of Credit Facility [Line Items]            
Stated interest rate       3.625%    
Commercial Paper            
Line of Credit Facility [Line Items]            
Line of Credit Facility, Maximum Borrowing Capacity     $ 3,000,000,000      
Debt term     397 days      
Senior Unsecured Notes, 4.550% Due 2027            
Line of Credit Facility [Line Items]            
Stated interest rate       4.55%    
Senior Unsecured Notes, 4.550% Due 2027 | Senior Notes            
Line of Credit Facility [Line Items]            
Debt face amount     $ 500,000,000      
Stated interest rate     4.55%      
Senior Unsecured Notes, 4.700% Due 2027            
Line of Credit Facility [Line Items]            
Stated interest rate       4.70%    
Senior Unsecured Notes, 4.700% Due 2027 | Senior Notes            
Line of Credit Facility [Line Items]            
Debt face amount     $ 700,000,000      
Stated interest rate     4.70%      
Senior Unsecured Notes, 5.200% Due 2035            
Line of Credit Facility [Line Items]            
Stated interest rate       5.20%    
Senior Unsecured Notes, 5.200% Due 2035 | Senior Notes            
Line of Credit Facility [Line Items]            
Debt face amount     $ 1,000,000,000      
Stated interest rate     5.20%      
Senior Unsecured Notes, 1.150% Due 2025            
Line of Credit Facility [Line Items]            
Stated interest rate         1.15%  
Senior Unsecured Notes, 1.150% Due 2025 | Senior Notes            
Line of Credit Facility [Line Items]            
Stated interest rate       1.15%    
Repayments of long-term debt   $ 650,000,000        
v3.25.4
Debt and Credit Facilities (Maturities Of Long-Term Debt Disclosures) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Nov. 30, 2025
Dec. 31, 2024
Other long-term debt $ 0   $ 10
Total debt 15,859   13,597
Current maturities of debt 1,000   1,409
Total long-term debt 14,859   12,188
Unamortized debt issuance costs 70   63
Borrowing capacity on existing facilities 2,911   2,160
Fair value of senior unsecured notes 15,344   $ 12,780
Senior Unsecured Notes, 1.150% Due 2025      
Stated interest rate     1.15%
Unsecured debt 0   $ 649
Senior Unsecured Notes 3.375% due 2025      
Stated interest rate   3.375% 3.375%
Unsecured debt $ 0   $ 750
Senior Unsecured Notes 3.500% due 2026      
Stated interest rate 3.50%    
Unsecured debt $ 1,000   998
Senior Unsecured Notes, Due November 2027      
Stated interest rate 2.125%    
Unsecured debt $ 881   777
Senior Unsecured Notes 3.650% due 2028      
Stated interest rate 3.65%    
Unsecured debt $ 599   598
Senior Unsecured Notes 4.850% Due 2028      
Stated interest rate 4.85%    
Unsecured debt $ 597   596
Senior Unsecured Notes, 3.375% Due 2028      
Stated interest rate 3.375%    
Unsecured debt $ 704   621
Senior Unsecured Notes 0.750% due 2029      
Stated interest rate 0.75%    
Unsecured debt $ 939   828
Senior Unsecured Notes, 4.250% Due 2029      
Stated interest rate 4.25%    
Unsecured debt $ 744   743
Senior Unsecured Notes, 1.950% Due 2030      
Stated interest rate 1.95%    
Unsecured debt $ 995   993
2.625% Notes due 2030      
Stated interest rate 2.625%    
Unsecured debt $ 759   669
Senior Unsecured Notes 1.000% due 2031      
Stated interest rate 1.00%    
Unsecured debt $ 876   772
3.375% Notes due 2032      
Stated interest rate 3.375%    
Unsecured debt $ 934   824
Senior Unsecured Notes 4.625% due September 11, 2034      
Stated interest rate 4.625%    
Unsecured debt $ 741   740
3.625% Notes due 2036      
Stated interest rate 3.625%    
Unsecured debt $ 695   613
Senior Unsecured Notes 4.100% due 2043      
Stated interest rate 4.10%    
Unsecured debt $ 393   393
Senior Unsecured Notes 4.375% due 2044      
Stated interest rate 4.375%    
Unsecured debt $ 396   396
Senior Unsecured Notes 4.625% due 2046      
Stated interest rate 4.625%    
Unsecured debt $ 984   984
Senior Unsecured Notes, 2.900% due 2050      
Stated interest rate 2.90%    
Unsecured debt $ 643   643
Senior Unsecured Notes, 4.550% Due 2027      
Stated interest rate 4.55%    
Unsecured debt $ 498   0
Senior Unsecured Notes, 4.700% Due 2027      
Stated interest rate 4.70%    
Unsecured debt $ 697   0
Senior Unsecured Notes, 4.850% Due 2030      
Stated interest rate 4.85%    
Unsecured debt $ 794   0
Senior Unsecured Notes, 5.200% Due 2035      
Stated interest rate 5.20%    
Unsecured debt $ 990   $ 0
v3.25.4
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Contingency [Line Items]        
Effective income tax, percent   28.10% 14.30% 13.80%
Unrecognized tax benefits, income tax penalties and interest expense   $ 18 $ 13 $ 1
Net operating loss carryforward recognized   32 9 $ 189
Accrued interest and penalties   96 71  
Tax credit carryforward, amount   141    
Tax credit carryforward, valuation allowance     4  
Undistributed earnings of foreign subsidiaries   11,700    
Unrecognized tax benefits, interest on income tax expense   279 $ 224  
Domestic Tax Jurisdiction [Member]        
Income Tax Contingency [Line Items]        
Operating loss carryforwards   271    
Deferred tax assets, operating loss carryforwards   57    
Operating loss carryforwards, subject to full valuation allowance   2    
State        
Income Tax Contingency [Line Items]        
Operating loss carryforwards   1,606    
Deferred tax assets, operating loss carryforwards   64    
Operating loss carryforwards, subject to full valuation allowance   33    
Foreign Tax Jurisdiction [Member]        
Income Tax Contingency [Line Items]        
Operating loss carryforwards   309    
Deferred tax assets, operating loss carryforwards   67    
Operating loss carryforwards, subject to full valuation allowance   61    
GERMANY        
Income Tax Contingency [Line Items]        
Tax settlements   $ 754    
GERMANY | Forecast        
Income Tax Contingency [Line Items]        
Tax settlements $ 11      
v3.25.4
Income Taxes (Schedule of Reconciliation of U.S. Statutory Income Tax Rate to Company's Effective Income Tax Rate from Continuing Operations 2025) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
United States federal statutory rate $ 948    
State and Local Income Taxes, Net of Federal Income Tax Effect 173    
Effect of Cross-Border Tax Laws      
Direct foreign tax credits (90)    
Global intangible low-taxed income 70    
Tax Credits      
Research and development tax credits (53)    
Nontaxable or Nondeductible Items      
Spinal Implants divestiture (51)    
Transfers of intellectual property 405    
Changes in unrecognized Tax Benefits 17    
Total income tax expense $ 1,268 $ 499 $ 508
Percent      
United States federal statutory rate 21.00% 21.00% 21.00%
State and Local Income Taxes, Net of Federal Income Tax Effect 3.80% 1.10% 1.10%
Statutory tax rate difference   (4.10%) (6.80%)
Other   (0.50%) 1.80%
Effect of Cross-Border Tax Laws      
Direct foreign tax credits (2.00%)    
Global intangible low-taxed income 1.60%    
Tax Credits      
United States research and development credits (1.20%) (1.40%) (1.20%)
Nontaxable or Nondeductible Items      
Spinal Implants divestiture (1.10%)    
Transfers of intellectual property 9.00%    
Changes in unrecognized Tax Benefits 0.40%    
Effective income tax rate 28.10% 14.30% 13.80%
Ireland      
Amount      
Statutory tax rate difference $ (177)    
Other $ 17    
Percent      
Statutory tax rate difference (3.90%)    
Other 0.40%    
Puerto Rico      
Amount      
Statutory tax rate difference $ (49)    
Other (4)    
Withholding Tax 60    
Expiration of credits carryforward 78    
Change in valuation allowance $ (78)    
Percent      
Statutory tax rate difference (1.10%)    
Other (0.10%)    
Withholding Tax 1.30%    
Expiration of credits carryforward 1.70%    
Change in valuation allowance (1.70%)    
Other foreign jurisdictions      
Amount      
Other $ 20    
Percent      
Other 0.40%    
United States      
Amount      
Other $ (18)    
Change in valuation allowance 0    
Effect of changes in tax laws or rates enacted in the current period $ 0    
Percent      
Other (0.40%)    
Change in valuation allowance 0.00%    
Effect of changes in tax laws or rates enacted in the current period 0.00%    
v3.25.4
Income Taxes (Schedule of Reconciliation of U.S. Statutory Income Tax Rate to Company's Effective Income Tax Rate from Continuing Operations 2024 and 2023) (Details)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
United States federal statutory rate 21.00% 21.00% 21.00%
United States state and local income taxes, less federal deduction 3.80% 1.10% 1.10%
Foreign income tax at rates other than 21%   (4.10%) (6.80%)
Tax related to repatriation of foreign earnings   0.30% 1.20%
United States research and development credits (1.20%) (1.40%) (1.20%)
Intellectual property transfers   0.00% (3.30%)
Goodwill impairment   2.80% 0.00%
Outside basis difference related to the anticipated sale of the Spinal Implants business   (4.90%) 0.00%
Other   (0.50%) 1.80%
Effective income tax rate 28.10% 14.30% 13.80%
v3.25.4
Income Taxes (Cash Paid for Income Taxes (Net of Refunds Received) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
United States - Federal $ 533    
United States - State 71    
Foreign 398    
Total 1,002 $ 989 $ 693
Ireland      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign 175    
Other foreign jurisdictions      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign $ 223    
v3.25.4
Income Taxes (Schedule of Earnings before Income Taxes) (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]                      
United States                 $ 1,434 $ 523 $ 701
International                 3,080 2,969 2,972
Earnings before income taxes $ 1,705 $ 1,029 $ 1,016 $ 764 $ 528 $ 1,043 $ 998 $ 923 $ 4,514 $ 3,492 $ 3,673
v3.25.4
Income Taxes (Schedule of Provision for Income Taxes) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current income tax expense (benefit):      
United States federal $ 414 $ 490 $ 236
United States state and local 149 90 48
International 313 289 430
Total current income tax expense 876 869 714
Deferred income tax expense (benefit):      
United States federal 186 (462) (212)
United States state and local 78 (76) (20)
International 128 168 26
Total deferred income tax expense (benefit) 392 (370) (206)
Total income tax expense $ 1,268 $ 499 $ 508
v3.25.4
Income Taxes (Schedule of Difference in Income Tax Effects Comprising Company's Deferred Income Tax Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred income tax assets:    
Inventories $ 553 $ 551
Other accrued expenses 401 207
Depreciation and amortization 546 715
State income taxes 90 167
Share-based compensation 117 100
Research and development capitalization 40 408
International interest expense carryforwards 56 52
Net operating loss and credit carryforwards 315 410
Outside basis difference related to the anticipated sale of the Spinal Implants business 0 170
Other 352 310
Total deferred income tax assets 2,470 3,090
Less valuation allowances (148) (228)
Net deferred income tax assets 2,322 2,862
Deferred income tax liabilities:    
Depreciation and amortization (1,222) (1,141)
Undistributed earnings (139) (61)
Total deferred income tax liabilities (1,361) (1,202)
Net deferred income tax assets 961 1,660
Noncurrent deferred income tax assets 1,098 1,742
Noncurrent liabilities—Other liabilities $ (137) $ (82)
v3.25.4
Income Taxes (Schedule of Unresolved Income Tax Positions) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Unrecognized Tax Benefits [Roll Forward]    
Beginning uncertain tax positions $ 349 $ 371
Increases related to current year income tax positions 19 18
Increases related to prior year income tax positions 12 0
Decreases related to prior year income tax positions 0 (4)
Settlements of income tax audits 0 (21)
Statute of limitations expirations and other (4) (3)
Foreign currency translation 27  
Foreign currency translation   (12)
Ending uncertain tax positions $ 403 $ 349
v3.25.4
Retirement Plans (Schedule of Defined Contribution Plan Disclosures) (Details) - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
Plan expense $ 399 $ 376 $ 327
Expense funded with Stryker common stock 72 62 57
Stryker common stock held by plan, amount $ 763 $ 781 $ 649
Stryker common stock held by plan, shares 2.2 2.2 2.2
Stryker common stock held by plan, value as a percentage of total plan assets 8.00% 10.00% 10.00%
v3.25.4
Retirement Plans (Schedule of Funded Status and Components of the Amounts Recognized in the Consolidated Balance Sheets and in Accumulated Other Comprehensive Gain (Loss), Before the Effect of Income Taxes) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Components of Net Periodic Pension Cost      
Service cost $ (42) $ (39) $ (32)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement Of Income Or Comprehensive Income, Extensible List, Not Disclosed Flag Interest cost Interest cost Interest cost
Interest cost $ (24) $ (21) $ (23)
Defined Benefit Plan, Net Periodic Benefit Cost Credit Expected Return Loss Statement Of Income Or Comprehensive Income Extensible List Not Disclosed Flag Expected return on plan assets Expected return on plan assets Expected return on plan assets
Expected return on plan assets $ 22 $ 19 $ 18
Amortization of prior service cost and transition amount 2 1 1
Recognized actuarial loss (2) (1) 4
Net periodic benefit cost (44) (41) (32)
Net actuarial gain (loss) 93 43 (67)
Recognized net actuarial loss 2 1 (4)
Prior service cost and transition amount (2) (1) (1)
Total recognized in OCI 93 43 (72)
Total recognized in net periodic benefit cost and OCI $ 49 $ 2 $ (104)
Defined Benefit Plan, Assumptions Used in Calculations [Abstract]      
Discount rate 2.90% 2.80% 3.30%
Expected return on plan assets 4.10% 4.30% 4.20%
Expected return on plan assets 2.90% 3.00% 3.00%
Weighted-average discount rate used to determine projected benefit obligations 3.60% 2.90% 2.80%
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Fair value of plan assets $ 560 $ 492  
Benefit obligations (829) (782) $ (826)
Funded status (269) (290)  
Unrecognized net actuarial gain (loss) 101 6  
Unrecognized prior service credit 8 8  
Total 109 14  
Accrued Compensation      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Funded status (5) (3)  
Other noncurrent assets      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Funded status 72 48  
Other noncurrent liabilities      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Funded status $ (336) $ (335)  
v3.25.4
Retirement Plans (Schedule of Change in Benefit Obligations (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Beginning projected benefit obligations $ 782 $ 826  
Service cost 42 39 $ 32
Interest cost 24 21 23
Foreign exchange impact and other 114 (52)  
Employee contributions 9 7  
Actuarial (gains) losses (116) (40)  
Benefits paid (26) (19)  
Ending projected benefit obligations 829 782 $ 826
Ending accumulated benefit obligations $ 786 $ 748  
v3.25.4
Retirement Plans (Change in Plan Assets) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]    
Beginning fair value of plan assets $ 492 $ 485
Actual return (3) 22
Employer contributions 23 23
Employee contributions 9 7
Foreign exchange impact 60 (31)
Benefits paid (21) (14)
Ending fair value of plan assets $ 560 $ 492
v3.25.4
Retirement Plans (Schedule of Target and Actual Allocation of Plan Assets) (Details)
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Target plan asset allocations 100.00%  
Actual plan asset allocations 100.00% 100.00%
Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target plan asset allocations 26.00%  
Actual plan asset allocations 32.00% 28.00%
Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target plan asset allocations 41.00%  
Actual plan asset allocations 39.00% 40.00%
Other    
Defined Benefit Plan Disclosure [Line Items]    
Target plan asset allocations 33.00%  
Actual plan asset allocations 29.00% 32.00%
v3.25.4
Retirement Plans (Schedule of Valuation of the Company's Pension Plan Assets by Pricing Categories) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets $ 560 $ 492
(Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 31 31
(Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 475 404
(Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 54 57
Cash and cash equivalents    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 16 17
Cash and cash equivalents | (Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 16 17
Cash and cash equivalents | (Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Cash and cash equivalents | (Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 171 133
Equity securities | (Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 9 8
Equity securities | (Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 162 125
Equity securities | (Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 232 205
Debt securities | (Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 2 2
Debt securities | (Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 230 203
Debt securities | (Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Other    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 141 137
Other | (Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 4 4
Other | (Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 83 76
Other | (Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets $ 54 $ 57
v3.25.4
Retirement Plans (Narrative) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Actual return $ (3) $ 22
(Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Actual return (3)  
Estimated future employer contributions in next fiscal year $ 24  
v3.25.4
Retirement Plans (Expected Benefit Payments) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Retirement Benefits [Abstract]  
2026 $ 29
2027 32
2028 33
2029 34
2030 38
2031-2035 $ 223
v3.25.4
Summary of Quarterly Data (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Quarterly Financial Data [Abstract]                      
Net sales $ 7,171 $ 6,057 $ 6,022 $ 5,866 $ 6,436 $ 5,494 $ 5,422 $ 5,243 $ 25,116 $ 22,595 $ 20,498
Gross profit 4,628 3,852 3,841 3,744 4,174 3,517 3,416 3,333 16,065 14,440 13,058
Earnings before income taxes 1,705 1,029 1,016 764 528 1,043 998 923 4,514 3,492 3,673
Net earnings $ 849 $ 859 $ 884 $ 654 $ 546 $ 834 $ 825 $ 788 $ 3,246 $ 2,993 $ 3,165
Basic net earnings per share of common stock (in dollars per share) $ 2.21 $ 2.25 $ 2.32 $ 1.71 $ 1.43 $ 2.18 $ 2.17 $ 2.07 $ 8.49 $ 7.86 $ 8.34
Diluted net earnings per share of common stock (in dollars per share) 2.20 2.22 2.29 1.69 1.41 2.16 2.14 2.05 $ 8.40 $ 7.76 $ 8.25
Dividends declared per share of common stock (in dollars per share) $ 0.88 $ 0.84 $ 0.84 $ 0.84 $ 0.84 $ 0.80 $ 0.80 $ 0.80      
v3.25.4
Segment and Geographic Data (Sales And Other Financial Information By Business Segment) (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
Sep. 30, 2025
USD ($)
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting [Abstract]                      
Number of reportable segments | segment                 2    
Segment Reporting Information [Line Items]                      
Number of reportable segments | segment                 2    
Net sales $ 7,171,000 $ 6,057,000 $ 6,022,000 $ 5,866,000 $ 6,436,000 $ 5,494,000 $ 5,422,000 $ 5,243,000 $ 25,116,000 $ 22,595,000 $ 20,498,000
Cost of sales                 9,051,000 8,155,000 7,440,000
Research, development and engineering expenses                 1,623,000 1,466,000 1,388,000
Selling, general and administrative expenses                 8,651,000 7,685,000 7,111,000
Depreciation and amortization                 1,570,000 1,426,000 1,341,000
Amortization of intangible assets                 (732,000) (623,000) (635,000)
Segment net earnings (loss)                 4,889,000 3,689,000 3,888,000
Sale of inventory stepped up to fair value at acquisition                 (173,000) (46,000) 0
Goodwill and other impairments                 (170,000) (977,000) (36,000)
Net earnings $ 849,000 $ 859,000 $ 884,000 $ 654,000 $ 546,000 $ 834,000 $ 825,000 $ 788,000 3,246,000 2,993,000 3,165,000
MedSurg and Neurotechnology                      
Segment Reporting Information [Line Items]                      
Net sales                 15,647,000 13,518,000 12,163,000
Operating Segments                      
Segment Reporting Information [Line Items]                      
Net sales                 25,116,000 22,595,000 20,498,000
Cost of sales                 8,429,000 7,720,000 7,130,000
Research, development and engineering expenses                 1,472,000 1,324,000 1,210,000
Selling, general and administrative expenses                 7,063,000 6,314,000 5,856,000
Depreciation and amortization                 660,000 641,000 567,000
Amortization of intangible assets                 (732,000) (623,000) (635,000)
Segment net earnings (loss)                 7,492,000 6,595,000 5,735,000
Operating Segments | MedSurg and Neurotechnology                      
Segment Reporting Information [Line Items]                      
Net sales                 15,647,000 13,518,000 12,163,000
Cost of sales                 5,859,000 5,320,000 4,876,000
Research, development and engineering expenses                 948,000 784,000 702,000
Selling, general and administrative expenses                 3,931,000 3,203,000 2,934,000
Depreciation and amortization                 237,000 208,000 181,000
Segment net earnings (loss)                 4,672,000 4,004,000 3,470,000
Operating Segments | Orthopaedics                      
Segment Reporting Information [Line Items]                      
Net sales                 9,469,000 9,077,000 8,335,000
Cost of sales                 2,570,000 2,400,000 2,254,000
Research, development and engineering expenses                 524,000 540,000 508,000
Selling, general and administrative expenses                 3,132,000 3,111,000 2,922,000
Depreciation and amortization                 423,000 433,000 386,000
Segment net earnings (loss)                 2,820,000 2,591,000 2,265,000
Corporate and Other                      
Segment Reporting Information [Line Items]                      
Depreciation and amortization                 178,000 162,000 139,000
Segment operating income                 (889,000) (880,000) (780,000)
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment                      
Segment Reporting Information [Line Items]                      
Sale of inventory stepped up to fair value at acquisition                 (173,000) (46,000) 0
Acquisition and integration-related charges                 (335,000) (108,000) (20,000)
Structural optimization and other special charges                 (191,000) (138,000) (170,000)
Medical device regulation                 (38,000) (58,000) (96,000)
Recall-related matters                 (58,000) (40,000) (18,000)
Regulatory and legal matters                 (17,000) (36,000) (92,000)
Net earnings                 $ 4,889,000 $ 3,689,000 $ 3,888,000
v3.25.4
Segment and Geographic Data (Segment Information) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Assets $ 47,844 $ 42,971  
Capital Expenditures During Period 761 755 $ 575
Operating Segments      
Segment Reporting Information [Line Items]      
Assets 46,288 41,622  
Capital Expenditures During Period 516 506 362
Operating Segments | MedSurg and Neurotechnology      
Segment Reporting Information [Line Items]      
Assets 27,647 23,115  
Capital Expenditures During Period 220 276 183
Operating Segments | Orthopaedics      
Segment Reporting Information [Line Items]      
Assets 18,641 18,507  
Capital Expenditures During Period 296 230 179
Corporate and Other      
Segment Reporting Information [Line Items]      
Assets 1,556 1,349  
Capital Expenditures During Period $ 245 $ 249 $ 213
v3.25.4
Segment and Geographic Data (Geographic Information on Net Sales and Long-Lived Assets) (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]                      
Net sales $ 7,171 $ 6,057 $ 6,022 $ 5,866 $ 6,436 $ 5,494 $ 5,422 $ 5,243 $ 25,116 $ 22,595 $ 20,498
Net Property, Plant & Equipment 3,876       3,448       3,876 3,448  
United States                      
Segment Reporting Information [Line Items]                      
Net sales                 19,006 16,943 15,257
Net Property, Plant & Equipment 2,084       1,997       2,084 1,997  
Europe, Middle East, Africa                      
Segment Reporting Information [Line Items]                      
Net sales                 3,181 2,897 2,618
Net Property, Plant & Equipment 1,562       1,260       1,562 1,260  
Asia Pacific                      
Segment Reporting Information [Line Items]                      
Net sales                 2,164 2,020 1,946
Net Property, Plant & Equipment 97       75       97 75  
Other foreign countries                      
Segment Reporting Information [Line Items]                      
Net sales                 765 735 $ 677
Net Property, Plant & Equipment $ 133       $ 116       $ 133 $ 116  
v3.25.4
Asset Impairments (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Goodwill and other impairments $ 170 $ 977 $ 36
Long-Lived Assets and Intangible Assets      
Property, Plant and Equipment [Line Items]      
Goodwill and other impairments $ 109 $ 159 $ 36
v3.25.4
Assets Held for Sale (Details) - Disposal Group, Held-for-Sale, Not Discontinued Operations - Spinal Implants - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Dec. 31, 2025
Apr. 30, 2025
Dec. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Loss on disposition of assets $ (362)      
Increase to fair value   $ 57    
Decrease to fair value   $ 245    
Disposal Group, Including Discontinued Operation, Assets [Abstract]        
Accounts receivable, net     $ 56 $ 62
Total inventories     195 183
Prepaid expenses and other current assets     27 10
Property, plant and equipment, net     53 51
Other intangibles, net     323 326
Noncurrent deferred income tax assets     9 9
Other noncurrent assets     179 171
Valuation allowance     (395) (362)
Total assets     447 450
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract]        
Accounts payable     41 28
Accrued compensation     20 26
Accrued expenses and other liabilities     24 29
Other noncurrent liabilities     27 21
Total liabilities     $ 112 $ 104
v3.25.4
Schedule II Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Allowance, Notes Receivable - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Balance at Beginning of Period $ 213 $ 182 $ 154
Charged to Costs & Expenses 95 69 69
Uncollectible Amounts Written Off, Net of Recoveries 91 36 40
Effect of Changes in Foreign Currency Exchange Rates 1 2 1
Balance at End of Period $ 216 $ 213 $ 182