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v3.23.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of segment revenues and profit | Segment revenues and profits for the three and six months ended June 30, 2023 and 2022 were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2023 |  | 2022 |  | 2023 |  | 2022
Revenues: |  |  |  |  |  |  |
Vision Care | $ | 646 |  |  | $ | 588 |  |  | $ | 1,233 |  |  | $ | 1,148 |
Pharmaceuticals | 194 |  |  | 169 |  |  | 355 |  |  | 324 |
Surgical | 195 |  |  | 184 |  |  | 378 |  |  | 358 |
Total revenues | $ | 1,035 |  |  | $ | 941 |  |  | $ | 1,966 |  |  | $ | 1,830 |
Segment profit: |  |  |  |  |  |  |
Vision Care | $ | 167 |  |  | $ | 145 |  |  | $ | 321 |  |  | $ | 304 |
Pharmaceuticals | 68 |  |  | 52 |  |  | 114 |  |  | 92 |
Surgical | 9 |  |  | 11 |  |  | 20 |  |  | 26 |
Total segment profit | 244 |  |  | 208 |  |  | 455 |  |  | 422 |
Corporate | (128) |  |  | (89) |  |  | (275) |  |  | (182) |
Amortization of intangible assets | (56) |  |  | (64) |  |  | (113) |  |  | (129) |
Other expense, net | (17) |  |  | 1 |  |  | (26) |  |  | (1) |
Operating income | 43 |  |  | 56 |  |  | 41 |  |  | 110 |
Interest income | 5 |  |  | 1 |  |  | 8 |  |  | 1 |
Interest expense (Note 4) | (58) |  |  | (44) |  |  | (108) |  |  | (64) |
Foreign exchange and other | (9) |  |  | 14 |  |  | (15) |  |  | 9 |
(Loss) income before provision for income taxes | $ | (19) |  |  | $ | 27 |  |  | $ | (74) |  |  | $ | 56 |
Schedule of revenues by segment and product category | Revenues by segment and product category were as follows:
| Vision Care |  | Pharmaceuticals |  | Surgical |  | Total
| Three Months Ended June 30,
(in millions) | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Pharmaceuticals | $ | 1 |  |  | $ | 1 |  |  | $ | 133 |  |  | $ | 113 |  |  | $ | — |  |  | $ | — |  |  | $ | 134 |  |  | $ | 114 |
Devices | 215 |  |  | 213 |  |  | — |  |  | — |  |  | 193 |  |  | 180 |  |  | 408 |  |  | 393 |
OTC | 421 |  |  | 366 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 421 |  |  | 366 |
Branded and Other Generics | 7 |  |  | 7 |  |  | 61 |  |  | 55 |  |  | — |  |  | — |  |  | 68 |  |  | 62 |
Other revenues | 2 |  |  | 1 |  |  | — |  |  | 1 |  |  | 2 |  |  | 4 |  |  | 4 |  |  | 6 |
| $ | 646 |  |  | $ | 588 |  |  | $ | 194 |  |  | $ | 169 |  |  | $ | 195 |  |  | $ | 184 |  |  | $ | 1,035 |  |  | $ | 941 |
| Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Pharmaceuticals | $ | 2 |  |  | $ | 2 |  |  | $ | 240 |  |  | $ | 219 |  |  | $ | — |  |  | $ | — |  |  | $ | 242 |  |  | $ | 221 |
Devices | 439 |  |  | 427 |  |  | — |  |  | — |  |  | 375 |  |  | 352 |  |  | 814 |  |  | 779 |
OTC | 774 |  |  | 702 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 774 |  |  | 702 |
Branded and Other Generics | 14 |  |  | 13 |  |  | 115 |  |  | 103 |  |  | — |  |  | — |  |  | 129 |  |  | 116 |
Other revenues | 4 |  |  | 4 |  |  | — |  |  | 2 |  |  | 3 |  |  | 6 |  |  | 7 |  |  | 12 |
| $ | 1,233 |  |  | $ | 1,148 |  |  | $ | 355 |  |  | $ | 324 |  |  | $ | 378 |  |  | $ | 358 |  |  | $ | 1,966 |  |  | $ | 1,830 |
Schedule of revenue attributed to a geographic region | Revenues are attributed to a geographic region based on the location of the customer and were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2023 |  | 2022 |  | 2023 |  | 2022
U.S. and Puerto Rico | $ | 466 |  |  | $ | 430 |  |  | $ | 870 |  |  | $ | 816 |
China | 89 |  |  | 76 |  |  | 163 |  |  | 158 |
France | 62 |  |  | 56 |  |  | 118 |  |  | 111 |
Japan | 46 |  |  | 47 |  |  | 94 |  |  | 97 |
Germany | 40 |  |  | 33 |  |  | 82 |  |  | 76 |
United Kingdom | 29 |  |  | 27 |  |  | 58 |  |  | 54 |
Canada | 27 |  |  | 24 |  |  | 53 |  |  | 46 |
Russia | 26 |  |  | 30 |  |  | 50 |  |  | 47 |
Spain | 24 |  |  | 22 |  |  | 44 |  |  | 41 |
Italy | 22 |  |  | 21 |  |  | 42 |  |  | 41 |
Mexico | 15 |  |  | 14 |  |  | 31 |  |  | 25 |
Poland | 14 |  |  | 12 |  |  | 26 |  |  | 23 |
South Korea | 12 |  |  | 11 |  |  | 23 |  |  | 22 |
Australia | 11 |  |  | 9 |  |  | 21 |  |  | 17 |
Other | 152 |  |  | 129 |  |  | 291 |  |  | 256 |
| $ | 1,035 |  |  | $ | 941 |  |  | $ | 1,966 |  |  | $ | 1,830 |

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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