v3.25.4

SEGMENT INFORMATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Segment Reporting [Abstract] |
Schedule of segment revenues and profit | Segment revenues and profits for the years 2025, 2024 and 2023 were as follows:
| Vision Care |  | Pharmaceuticals |  | Surgical |  | Total
(in millions) | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales | $ | 2,914 |  |  | $ | 2,731 |  |  | $ | 2,535 |  |  | $ | 1,277 |  |  | $ | 1,206 |  |  | $ | 834 |  |  | $ | 889 |  |  | $ | 837 |  |  | $ | 762 |  |  | $ | 5,080 |  |  | $ | 4,774 |  |  | $ | 4,131 |
Other Revenues | 9 |  |  | 8 |  |  | 8 |  |  | 7 |  |  | 3 |  |  | 2 |  |  | 5 |  |  | 6 |  |  | 5 |  |  | 21 |  |  | 17 |  |  | 15 |
| 2,923 |  |  | 2,739 |  |  | 2,543 |  |  | 1,284 |  |  | 1,209 |  |  | 836 |  |  | 894 |  |  | 843 |  |  | 767 |  |  | 5,101 |  |  | 4,791 |  |  | 4,146 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold (excluding amortization and impairments of intangible assets) | 1,113 |  |  | 1,002 |  |  | 954 |  |  | 397 |  |  | 374 |  |  | 252 |  |  | 535 |  |  | 492 |  |  | 434 |  |  |  |  |  |  |
Cost of other revenues | 1 |  |  | 1 |  |  | 1 |  |  | 4 |  |  | 3 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Selling, general and administrative | 912 |  |  | 882 |  |  | 832 |  |  | 572 |  |  | 543 |  |  | 322 |  |  | 298 |  |  | 265 |  |  | 248 |  |  |  |  |  |  |
Research and development | 48 |  |  | 46 |  |  | 67 |  |  | 53 |  |  | 33 |  |  | 20 |  |  | 43 |  |  | 42 |  |  | 35 |  |  |  |  |  |  |
Segment Profit | $ | 849 |  |  | $ | 808 |  |  | $ | 689 |  |  | $ | 258 |  |  | $ | 256 |  |  | $ | 241 |  |  | $ | 18 |  |  | $ | 44 |  |  | $ | 50 |  |  | 1,125 |  |  | 1,108 |  |  | 980 |
Corporate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (679) |  |  | (614) |  |  | (536) |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (258) |  |  | (288) |  |  | (240) |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (75) |  |  | (44) |  |  | (74) |
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 113 |  |  | 162 |  |  | 130 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12 |  |  | 15 |  |  | 15 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (421) |  |  | (399) |  |  | (283) |
Loss on extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6) |  |  | — |  |  | — |
Foreign exchange and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15) |  |  | (12) |  |  | (28) |
Loss before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (317) |  |  | $ | (234) |  |  | $ | (166) |
Schedule of revenues by segment and product category | Revenues by segment and product category were as follows:
| Vision Care |  | Pharmaceuticals |  | Surgical |  | Total
(in millions) | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
Pharmaceuticals | $ | 5 |  |  | $ | 4 |  |  | $ | 4 |  |  | $ | 1,076 |  |  | $ | 965 |  |  | $ | 614 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,081 |  |  | $ | 969 |  |  | $ | 618 |
Devices | 1,033 |  |  | 963 |  |  | 888 |  |  | — |  |  | — |  |  | — |  |  | 889 |  |  | 837 |  |  | 762 |  |  | 1,922 |  |  | 1,800 |  |  | 1,650 |
OTC | 1,834 |  |  | 1,724 |  |  | 1,611 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,834 |  |  | 1,724 |  |  | 1,611 |
Branded and Other Generics | 42 |  |  | 40 |  |  | 32 |  |  | 201 |  |  | 241 |  |  | 220 |  |  | — |  |  | — |  |  | — |  |  | 243 |  |  | 281 |  |  | 252 |
Other revenues | 9 |  |  | 8 |  |  | 8 |  |  | 7 |  |  | 3 |  |  | 2 |  |  | 5 |  |  | 6 |  |  | 5 |  |  | 21 |  |  | 17 |  |  | 15 |
| $ | 2,923 |  |  | $ | 2,739 |  |  | $ | 2,543 |  |  | $ | 1,284 |  |  | $ | 1,209 |  |  | $ | 836 |  |  | $ | 894 |  |  | $ | 843 |  |  | $ | 767 |  |  | $ | 5,101 |  |  | $ | 4,791 |  |  | $ | 4,146 |
Schedule of revenue attributed to a geographic region | Revenues are attributed to a geographic region based on the location of the customer for the years 2025, 2024 and 2023 and were as follows:
(in millions) | 2025 |  | 2024 |  | 2023
U.S. and Puerto Rico | $ | 2,546 |  |  | $ | 2,413 |  |  | $ | 1,934 |
China | 358 |  |  | 358 |  |  | 344 |
France | 246 |  |  | 227 |  |  | 210 |
Japan | 186 |  |  | 180 |  |  | 187 |
Germany | 164 |  |  | 152 |  |  | 147 |
Russia | 148 |  |  | 120 |  |  | 106 |
United Kingdom | 137 |  |  | 132 |  |  | 121 |
Canada | 135 |  |  | 127 |  |  | 110 |
Italy | 102 |  |  | 91 |  |  | 82 |
Spain | 101 |  |  | 92 |  |  | 85 |
Mexico | 75 |  |  | 75 |  |  | 68 |
Poland | 75 |  |  | 65 |  |  | 51 |
South Korea | 51 |  |  | 47 |  |  | 46 |
Other | 777 |  |  | 712 |  |  | 655 |
| $ | 5,101 |  |  | $ | 4,791 |  |  | $ | 4,146 |
Schedule of long-lived assets by geographic region | Long-lived assets consisting of property, plant and equipment, net of accumulated depreciation, are attributed to geographic regions based on their physical location as of December 31, 2025 and 2024 and were as follows:
(in millions) | 2025 |  | 2024
U.S. and Puerto Rico | $ | 836 |  |  | $ | 798 |
Ireland | 544 |  |  | 424 |
Germany | 162 |  |  | 104 |
Other | 220 |  |  | 159 |
| $ | 1,762 |  |  | $ | 1,485 |
Schedule of customers that accounted for 10% or more of total revenue | Major customers that accounted for approximately 10% or more of total revenues were as follows:
| 2025 |  | 2024 |  |  |  |
McKesson Corporation | 10 | % |  | 10 | % |  |  |  |
Cardinal Health, Inc. | 10 | % |  | 10 | % |  |  |  |

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