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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net sales $ 3,599 $ 3,244 $ 6,988 $ 6,270
Cost of products sold 1,058 1,011 2,098 1,966
Gross profit 2,542 2,233 4,891 4,304 Close
Operating expenses:        
Selling, general and administrative expenses 1,354 1,165 2,570 2,225
Research and development expenses 359 335 695 654
Royalty expense 12 11 23 23
Amortization expense 210 204 412 402
Intangible asset impairment charges 57 7 57 7
Contingent consideration net expense (benefit) 19 36 31 48
Restructuring net charges (credits) 16 11 36 14
Litigation-related net charges (credits) 0 42 0 42
Operating expenses 2,028 1,810 3,825 3,415 Close
Operating income (loss) 514 423 1,066 889 Close
Other income (expense):         Close
Interest expense (70) (64) (135) (343) Close
Other, net (18) (14) (61) (46) Close
Total Other Income Expenses -88.0 -78.0 -196.0 -389.0 0 Close
Income (loss) before income taxes 426 345 870 501 CloseClose
Income tax expense (benefit) 156 85 287 131 Close
Net income (loss) 270 260 584 370 Close
Preferred stock dividends (9) (14) (23) (28)
Net income (loss) attributable to noncontrolling interests 0 0 0 0 Close
Net income (loss) attributable to Boston Scientific common stockholders $ 261 $ 246 $ 561 $ 342
Net income (loss) per common share — basic $ 0.18 $ 0.17 $ 0.39 $ 0.24
Net income (loss) per common share — diluted $ 0.18 $ 0.17 $ 0.39 $ 0.24
Weighted-average shares outstanding        
Basic 1,446.2 1,429.7 1,441.0 1,428.8
Diluted 1,456.2 1,437.8 1,451.1 1,438.1