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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Reportable Segments
In connection with the planned separation of its eye health business into an independent publicly traded entity from the remainder of Bausch Health Companies Inc., the Company has begun managing its operations in a manner consistent with the organizational structure of the separate entities as proposed by the B+L Separation. As a result, during the first quarter of 2021, the Company’s Chief Executive Officer ("CEO"), who is the Company’s Chief Operating Decision Maker, commenced managing the business differently through changes in its operating and reportable segments, which necessitated a realignment of the Company's historical segment structure. This realignment is consistent with how the Company’s CEO currently: (i) assesses operating performance on a regular basis, (ii) makes resource allocation decisions and (iii) designates responsibilities of his direct reports. Pursuant to these changes, effective in the first quarter of 2021, the Company operates in the following reportable segments: (i) Bausch + Lomb, (ii) Salix, (iii) International Rx, (iv) Ortho Dermatologics and (v) Diversified Products. In addition, as part of this realignment of segment structure, certain products historically included in certain segments are now included in their new respective segments based on the organizational structure of the two separate entities as proposed by the B+L Separation. Prior period presentation of segment revenues and segment profits has been recast to conform to the current segment reporting structure.
The following is a brief description of the Company’s segments:
•The Bausch + Lomb segment consists of global sales of Bausch + Lomb Vision Care, Consumer, Surgical and Ophthalmology Rx products.
•The Salix segment consists of sales in the U.S. of GI products.
•The International Rx segment consists of sales, with the exception of sales of Bausch + Lomb products and Solta medical aesthetic devices, outside the U.S. and Puerto Rico of branded pharmaceutical products, branded generic pharmaceutical products and OTC products.
•The Ortho Dermatologics segment consists of: (i) sales in the U.S. of Ortho Dermatologics (dermatological) products and (ii) global sales of Solta medical aesthetic devices.
•The Diversified Products segment consists of sales in the U.S. of: (i) pharmaceutical products in the areas of neurology and certain other therapeutic classes, (ii) generic products and (iii) dentistry products.
Segment profit is based on operating income after the elimination of intercompany transactions. Certain costs, such as Amortization of intangible assets, Asset impairments, Acquired in-process research and development costs, Restructuring, integration and separation costs and Other expense, net, are not included in the measure of segment profit, as management excludes these items in assessing segment financial performance.
Corporate includes the finance, treasury, certain research and development programs, tax and legal operations of the Company’s businesses and incurs certain expenses, gains and losses related to the overall management of the Company, which are not allocated to the other business segments. In assessing segment performance and managing operations, management does not review segment assets. Furthermore, a portion of share-based compensation is considered a corporate cost, since the amount of such expense depends on company-wide performance rather than the operating performance of any single segment.
Segment Revenues and Profits
Segment revenues and profits were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2021202020212020
Revenues:
Bausch + Lomb$934 $677 $1,815 $1,552 
Salix516 404 988 881 
International Rx313 249 619 540 
Ortho Dermatologics137 117 278 248 
Diversified Products200 217 427 455 
$2,100 $1,664 $4,127 $3,676 
Segment profits:
Bausch + Lomb$213 $124 $452 $387 
Salix370 289 697 608 
International Rx103 75 212 173 
Ortho Dermatologics61 38 131 85 
Diversified Products140 154 311 321 
887 680 1,803 1,574 
Corporate(199)(145)(380)(301)
Amortization of intangible assets(360)(436)(717)(872)
Goodwill impairments— — (469)— 
Asset impairments(47)(1)(195)(15)
Restructuring, integration and separation costs(9)(7)(21)(11)
Other expense, net(542)(118)(512)(154)
Operating (loss) income(270)(27)(491)221 
Interest income2 2 4 9 
Interest expense(364)(385)(732)(781)
Loss on extinguishment of debt(45)(27)(50)(51)
Foreign exchange and other7 — 8 (13)
Loss before benefit from income taxes$(670)$(437)$(1,261)$(615)
Revenues by Segment and Product Category
Revenues by segment and product category were as follows:
(in millions)Bausch + LombSalixInternational RxOrtho DermatologicsDiversified ProductsTotal
Three Months Ended June 30, 2021
Pharmaceuticals$134 $514 $67 $59 $164 $938 
Devices397 — — 73 — 470 
OTC329 — 32 — 2 363 
Branded and Other Generics 68 — 206 — 31 305 
Other revenues6 2 8 5 3 24 
$934 $516 $313 $137 $200 $2,100 
Three Months Ended June 30, 2020
Pharmaceuticals$96 $403 $55 $70 $161 $785 
Devices220 — — 42 — 262 
OTC295 — 20 — 2 317 
Branded and Other Generics57 — 161 — 55 273 
Other revenues9 1 13 5 (1)27 
$677 $404 $249 $117 $217 $1,664 
Six Months Ended June 30, 2021
Pharmaceuticals$259 $984 $126 $124 $341 $1,834 
Devices779 — — 145 — 924 
OTC645 — 57 — 4 706 
Branded and Other Generics119 — 418 — 78 615 
Other revenues13 4 18 9 4 48 
$1,815 $988 $619 $278 $427 $4,127 
Six Months Ended June 30, 2020
Pharmaceuticals$234 $880 $121 $146 $343 $1,724 
Devices561 — — 93 — 654 
OTC616 — 46 — 4 666 
Branded and Other Generics125 — 349 — 105 579 
Other revenues16 1 24 9 3 53 
$1,552 $881 $540 $248 $455 $3,676 
The top ten products for the six months ended June 30, 2021 and 2020 represented 40% and 40% of total revenues for the six months ended June 30, 2021 and 2020, respectively.
Geographic Information
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)2021202020212020
U.S. and Puerto Rico$1,216 $1,009 $2,378 $2,221 
China119 79 229 137 
Canada87 67 163 157 
Egypt68 58 134 116 
Poland71 37 133 111 
Mexico56 48 125 89 
Japan55 48 115 102 
France56 42 110 89 
Germany28 32 70 76 
Russia33 24 64 57 
United Kingdom27 14 52 37 
Spain23 12 42 32 
South Korea20 16 40 33 
Other241 178 472 419 
$2,100 $1,664 $4,127 $3,676 
Major Customers
Customers that accounted for 10% or more of total revenues were as follows:
Six Months Ended June 30,
20212020
AmerisourceBergen Corporation17%18%
McKesson Corporation (including McKesson Specialty)16%17%
Cardinal Health, Inc.12%13%