Pay vs Performance Disclosure, Table

The following information, as required and defined by SEC rules, shows the relationship between executive compensation actually paid and certain financial performance measures. For information about how our Compensation Committee seeks to align executive compensation with the Company’s performance, see “Compensation Discussion and Analysis.” The amounts in the table below are calculated in accordance with SEC rules and do not represent amounts actually earned or realized by our NEOs.


					Average Summary Compensation	Average Compensation	Value of Initial Fixed $100 Investment Based on:			Company
Fiscal Year	Summary Compensation Table Total for CEO 1	Compensation Actually Paid to CEO 1 (1)	Summary Compensation Table Total for CEO 2	Compensation Actually Paid to CEO 2 (1)	Table for Non- CEO Named Executive Officers(1)	Actually Paid to Non-CEO Named Executive Officers(1)	Total Shareholder Return(2)	Peer Group Total Shareholder Return(3)	Net Income (in billions)(4)	Selected Measure (Adjusted EPS)(5)
2025	$12,827,236	$14,643,258	-	-	$3,795,772	$1,616,879	$148.32	$193.57	$1.592	$5.59
2024	$16,619,219	$21,204,628	$9,041,669	$8,915,605	$5,918,692	$6,974,046	$130.99	$174.15	$1.539	$5.29
2023	$16,023,409	$1,007,462	-	-	$3,675,218	$591,636	$103.21	$134.36	$1.240	$5.44
2022	$16,647,413	$10,456,854	-	-	$4,166,422	$3,108,256	$137.17	$129.65	$1.254	$5.22
2021	$15,967,631	$31,773,386	-	-	$3,755,224	$6,017,348	$155.15	$140.07	$1.210	$4.34

Represents the amount of “Compensation Actually Paid” or “CAP” as computed per SEC rules. These amounts do not reflect the actual amount of compensation earned by or paid to the applicable individual(s) during the applicable year. The following table summarizes the adjustments made to total compensation in accordance with Item 402(v) of Regulation S-K in order to determine the compensation amounts shown in the table above as being “Compensation Actually Paid”. Mr. McDonnell was CEO for fiscal year 2025 and CEO 2 for fiscal year 2024. Mr. McMullen was CEO 1 for 2024 and CEO for 2023, 2022 and 2021. The other NEOs were Mr. McMahon (all years), Mr. Gonsalves (2025), Mr. May (2025 and 2024), Ms. Riemann (2025), Mr. DiMarco (2025), Mr. Ancher-Jensen (2024, 2023 and 2022), Mr. McDonnell (2023, 2022 and 2021), Mr. Grau (2024), Mr. Raha (2023, 2022 and 2021) and Mr. Thaysen (2022 and 2021).

For the relevant fiscal year, represents the cumulative total shareholder return of the company for the measurement periods ending on October 31 of each of 2025, 2024, 2023, 2022 and 2021, respectively.

For the relevant fiscal year, represents the cumulative total shareholder return of the Standard & Poor’s 500 Healthcare and Standard & Poor’s 500 Materials Indices (“S&P Index”), our published industry index for purposes of disclosure under Item 201(e) of Regulation S-K, for the measurement periods ending on October 31 of each of 2025, 2024, 2023, 2022 and 2021, respectively.

Net Income is a GAAP measure.

Adjusted EPS is a non-GAAP measure. Appendix A to this Proxy Statement defines this and other non-GAAP financial measures.


	2025		2024			2023		2022		2021
Adjustments	CEO	Other NEOs	CEO 1	CEO 2	Other NEOs*	CEO	Other NEOs*	CEO	Other NEOs*	CEO	Other NEOs*
Total Compensation from Summary Compensation Table (“SCT”)	$12,827,236	$3,795,772	$16,619,219	$9,041,669	$5,918,692	$16,023,409	$3,675,218	$16,647,413	$4,166,422	$15,967,631	$3,755,224
Less, adjustments for defined benefit and actuarial pension plans	-	-	-	-	-	-	-	-	-	-	-
Less, value of Stock and Option Awards reported in SCT**	($10,187,609)	($2,702,081)	($14,610,155)	($7,485,920)	($4,952,604)	($14,109,080)	($2,690,432)	($12,989,141)	($2,803,729)	($11,460,405)	($2,155,292)
Plus, Year-End value of Awards Granted in Fiscal Year that are Unvested and Outstanding	$10,868,560	$1,896,883	$15,188,682	$7,359,856	$5,000,212	$8,063,399	$1,537,587	$10,746,518	$2,385,779	$19,678,309	$3,700,804
Plus, Change in Fair Value of any Prior Year awards that are Outstanding and Unvested	$1,212,836	$255,490	$2,480,809	-	$447,394	($10,316,787)	($2,102,352)	($9,200,149)	($1,656,746)	($3,109,645)	($265,241)
Plus, FMV of Awards Granted this Year and that Vested this Year	-	-	-	-	-	-	-	-	-	-	-
Plus, Change in Fair Value (from prior year-end) of Prior Year awards that Vested this year	($77,765)	($22,140)	$1,526,073	-	$560,352	$1,346,520	$171,613	$5,252,213	$1,016,529	$10,697,496	$981,853
Less Prior Year Fair Value of Prior Year awards that Failed to vest this year	-	($1,607,045)	-	-	-	-	-	-	-	-	-
Compensation Actually Paid (as calculated)	$14,643,258	$1,616,879	$21,204,628	$8,915,605	$6,974,046	$1,007,462	$591,636	$10,456,854	$3,108,256	$31,773,386	$6,017,348

* Amounts presented are averages for the entire group of NEOs (excluding our CEOs).

** Stock option grant date fair values are calculated based on the Black-Scholes option pricing model as of date of grant. Adjustments have been made using stock option fair values as of each measurement date using the stock price as of the measurement date and updated assumptions (i.e., term, volatility, dividend yield and risk free rates) as of the measurement date. Performance-based restricted stock unit grant date fair values are calculated using the stock price and performance accrual modifiers, where relevant, as of date of grant assuming target performance. Adjustments have been made using the stock price and performance accrual modifier as of the applicable year end and as of the date of vest. Time-vested restricted stock unit grant date fair values are calculated using the stock price as of date of grant. Adjustments have been made using the stock price as of the applicable year end and as of each date of vest.

Company Selected Measure Name

AdjustedEPS

Named Executive Officers, Footnote

Mr. McDonnell was CEO for fiscal year 2025 and CEO 2 for fiscal year 2024. Mr. McMullen was CEO 1 for 2024 and CEO for 2023, 2022 and 2021. The other NEOs were Mr. McMahon (all years), Mr. Gonsalves (2025), Mr. May (2025 and 2024), Ms. Riemann (2025), Mr. DiMarco (2025), Mr. Ancher-Jensen (2024, 2023 and 2022), Mr. McDonnell (2023, 2022 and 2021), Mr. Grau (2024), Mr. Raha (2023, 2022 and 2021) and Mr. Thaysen (2022 and 2021).

Peer Group Issuers, Footnote

PEO Total Compensation Amount

$ 12,827,236

$ 16,023,409

$ 16,647,413

$ 15,967,631

PEO Actually Paid Compensation Amount

$ 14,643,258

1,007,462

10,456,854

31,773,386

Adjustment To PEO Compensation, Footnote


	2025		2024			2023		2022		2021
Adjustments	CEO	Other NEOs	CEO 1	CEO 2	Other NEOs*	CEO	Other NEOs*	CEO	Other NEOs*	CEO	Other NEOs*
Total Compensation from Summary Compensation Table (“SCT”)	$12,827,236	$3,795,772	$16,619,219	$9,041,669	$5,918,692	$16,023,409	$3,675,218	$16,647,413	$4,166,422	$15,967,631	$3,755,224
Less, adjustments for defined benefit and actuarial pension plans	-	-	-	-	-	-	-	-	-	-	-
Less, value of Stock and Option Awards reported in SCT**	($10,187,609)	($2,702,081)	($14,610,155)	($7,485,920)	($4,952,604)	($14,109,080)	($2,690,432)	($12,989,141)	($2,803,729)	($11,460,405)	($2,155,292)
Plus, Year-End value of Awards Granted in Fiscal Year that are Unvested and Outstanding	$10,868,560	$1,896,883	$15,188,682	$7,359,856	$5,000,212	$8,063,399	$1,537,587	$10,746,518	$2,385,779	$19,678,309	$3,700,804
Plus, Change in Fair Value of any Prior Year awards that are Outstanding and Unvested	$1,212,836	$255,490	$2,480,809	-	$447,394	($10,316,787)	($2,102,352)	($9,200,149)	($1,656,746)	($3,109,645)	($265,241)
Plus, FMV of Awards Granted this Year and that Vested this Year	-	-	-	-	-	-	-	-	-	-	-
Plus, Change in Fair Value (from prior year-end) of Prior Year awards that Vested this year	($77,765)	($22,140)	$1,526,073	-	$560,352	$1,346,520	$171,613	$5,252,213	$1,016,529	$10,697,496	$981,853
Less Prior Year Fair Value of Prior Year awards that Failed to vest this year	-	($1,607,045)	-	-	-	-	-	-	-	-	-
Compensation Actually Paid (as calculated)	$14,643,258	$1,616,879	$21,204,628	$8,915,605	$6,974,046	$1,007,462	$591,636	$10,456,854	$3,108,256	$31,773,386	$6,017,348

* Amounts presented are averages for the entire group of NEOs (excluding our CEOs).

Non-PEO NEO Average Total Compensation Amount

$ 3,795,772

$ 5,918,692

3,675,218

4,166,422

3,755,224

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,616,879

6,974,046

591,636

3,108,256

6,017,348

Adjustment to Non-PEO NEO Compensation Footnote


	2025		2024			2023		2022		2021
Adjustments	CEO	Other NEOs	CEO 1	CEO 2	Other NEOs*	CEO	Other NEOs*	CEO	Other NEOs*	CEO	Other NEOs*
Total Compensation from Summary Compensation Table (“SCT”)	$12,827,236	$3,795,772	$16,619,219	$9,041,669	$5,918,692	$16,023,409	$3,675,218	$16,647,413	$4,166,422	$15,967,631	$3,755,224
Less, adjustments for defined benefit and actuarial pension plans	-	-	-	-	-	-	-	-	-	-	-
Less, value of Stock and Option Awards reported in SCT**	($10,187,609)	($2,702,081)	($14,610,155)	($7,485,920)	($4,952,604)	($14,109,080)	($2,690,432)	($12,989,141)	($2,803,729)	($11,460,405)	($2,155,292)
Plus, Year-End value of Awards Granted in Fiscal Year that are Unvested and Outstanding	$10,868,560	$1,896,883	$15,188,682	$7,359,856	$5,000,212	$8,063,399	$1,537,587	$10,746,518	$2,385,779	$19,678,309	$3,700,804
Plus, Change in Fair Value of any Prior Year awards that are Outstanding and Unvested	$1,212,836	$255,490	$2,480,809	-	$447,394	($10,316,787)	($2,102,352)	($9,200,149)	($1,656,746)	($3,109,645)	($265,241)
Plus, FMV of Awards Granted this Year and that Vested this Year	-	-	-	-	-	-	-	-	-	-	-
Plus, Change in Fair Value (from prior year-end) of Prior Year awards that Vested this year	($77,765)	($22,140)	$1,526,073	-	$560,352	$1,346,520	$171,613	$5,252,213	$1,016,529	$10,697,496	$981,853
Less Prior Year Fair Value of Prior Year awards that Failed to vest this year	-	($1,607,045)	-	-	-	-	-	-	-	-	-
Compensation Actually Paid (as calculated)	$14,643,258	$1,616,879	$21,204,628	$8,915,605	$6,974,046	$1,007,462	$591,636	$10,456,854	$3,108,256	$31,773,386	$6,017,348

* Amounts presented are averages for the entire group of NEOs (excluding our CEOs).

Equity Valuation Assumption Difference, Footnote

Stock option grant date fair values are calculated based on the Black-Scholes option pricing model as of date of grant. Adjustments have been made using stock option fair values as of each measurement date using the stock price as of the measurement date and updated assumptions (i.e., term, volatility, dividend yield and risk free rates) as of the measurement date. Performance-based restricted stock unit grant date fair values are calculated using the stock price and performance accrual modifiers, where relevant, as of date of grant assuming target performance. Adjustments have been made using the stock price and performance accrual modifier as of the applicable year end and as of the date of vest. Time-vested restricted stock unit grant date fair values are calculated using the stock price as of date of grant. Adjustments have been made using the stock price as of the applicable year end and as of each date of vest.

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

Note: Non-GAAP diluted EPS is further defined and reconciled to the most directly comparable GAAP financial measures in Appendix A to this proxy statement.

Tabular List, Table

The most important financial measures used by the Company to link Compensation Actually Paid (as defined by SEC rules) to the Company’s NEOs for the most recently completed fiscal year to the company’s performance are:

•

Adjusted Operating Margin %

•

Adjusted Earnings Per Share (EPS)

•

Total Shareholder Return (TSR)

•

Adjusted Revenue

Total Shareholder Return Amount

$ 148.32

130.99

103.21

137.17

155.15

Peer Group Total Shareholder Return Amount

193.57

174.15

134.36

129.65

140.07

Net Income (Loss)

$ 1,592,000,000

$ 1,539,000,000

$ 1,240,000,000

$ 1,254,000,000

$ 1,210,000,000

Company Selected Measure Amount

5.59

5.29

5.44

5.22

4.34

PEO Name

Mr. McDonnell

Mr. McMullen

Measure:: 1

Compensation Actually Paid vs. Other Measure

Note: Non-GAAP operating margin is further defined and reconciled to the most directly comparable GAAP financial measures in Appendix A to this proxy statement.

Adjusted Operating Margin

Measure:: 2

Non-GAAP Measure Description

Adjusted Earnings Per Share (EPS)

Adjusted EPS is a non-GAAP measure. Appendix A to this Proxy Statement defines this and other non-GAAP financial measures.

Measure:: 3

Total Shareholder Return (TSR)

Measure:: 4

Adjusted Revenue

Mr. McMullen

PEO Total Compensation Amount

$ 16,619,219

PEO Actually Paid Compensation Amount

$ 21,204,628

PEO Name

Mr. McMullen

Mr. McDonnell

PEO Total Compensation Amount

$ 9,041,669

PEO Actually Paid Compensation Amount

$ 8,915,605

PEO Name

Mr. McDonnell

PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table

PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

$ 0

PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

(10,187,609)

(14,109,080)

(12,989,141)

(11,460,405)

PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

10,868,560

8,063,399

10,746,518

19,678,309

PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

1,212,836

(10,316,787)

(9,200,149)

(3,109,645)

PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

(77,765)

1,346,520

5,252,213

10,697,496

PEO | Mr. McMullen | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table

PEO | Mr. McMullen | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

$ 0

PEO | Mr. McMullen | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

(14,610,155)

PEO | Mr. McMullen | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

15,188,682

PEO | Mr. McMullen | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

2,480,809

PEO | Mr. McMullen | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

PEO | Mr. McMullen | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

1,526,073

PEO | Mr. McDonnell | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table

PEO | Mr. McDonnell | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

PEO | Mr. McDonnell | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

(7,485,920)

PEO | Mr. McDonnell | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

7,359,856

PEO | Mr. McDonnell | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

PEO | Mr. McDonnell | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

PEO | Mr. McDonnell | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table

Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

(2,702,081)

(4,952,604)

(2,690,432)

(2,803,729)

(2,155,292)

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

1,896,883

5,000,212

1,537,587

2,385,779

3,700,804

Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

255,490

447,394

(2,102,352)

(1,656,746)

(265,241)

Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

(22,140)

560,352

171,613

1,016,529

981,853