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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Schedule of segment revenues and profit | Segment revenues and profits were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2021 |  | 2020 |  | 2021 |  | 2020
Revenues: |  |  |  |  |  |  |
Bausch + Lomb | $ | 949 |  |  | $ | 916 |  |  | $ | 2,764 |  |  | $ | 2,468 |
Salix | 527 |  |  | 496 |  |  | 1,515 |  |  | 1,377 |
International Rx | 271 |  |  | 308 |  |  | 890 |  |  | 848 |
Ortho Dermatologics | 140 |  |  | 143 |  |  | 418 |  |  | 391 |
Diversified Products | 224 |  |  | 275 |  |  | 651 |  |  | 730 |
| $ | 2,111 |  |  | $ | 2,138 |  |  | $ | 6,238 |  |  | $ | 5,814 |
Segment profits: |  |  |  |  |  |  |
Bausch + Lomb | $ | 247 |  |  | $ | 274 |  |  | $ | 699 |  |  | $ | 661 |
Salix | 377 |  |  | 360 |  |  | 1,074 |  |  | 968 |
International Rx | 92 |  |  | 104 |  |  | 304 |  |  | 277 |
Ortho Dermatologics | 64 |  |  | 69 |  |  | 195 |  |  | 154 |
Diversified Products | 161 |  |  | 207 |  |  | 472 |  |  | 528 |
| 941 |  |  | 1,014 |  |  | 2,744 |  |  | 2,588 |
Corporate | (186) |  |  | (141) |  |  | (566) |  |  | (442) |
Amortization of intangible assets | (338) |  |  | (391) |  |  | (1,055) |  |  | (1,263) |
Goodwill impairments | — |  |  | — |  |  | (469) |  |  | — |
Asset impairments, including loss on assets held for sale | (18) |  |  | (2) |  |  | (213) |  |  | (17) |
Restructuring, integration, separation and IPO costs | (8) |  |  | (2) |  |  | (29) |  |  | (13) |
Other income (expense), net | 183 |  |  | (18) |  |  | (329) |  |  | (172) |
Operating income | 574 |  |  | 460 |  |  | 83 |  |  | 681 |
Interest income | 2 |  |  | 2 |  |  | 6 |  |  | 11 |
Interest expense | (351) |  |  | (374) |  |  | (1,083) |  |  | (1,155) |
Loss on extinguishment of debt | (12) |  |  | — |  |  | (62) |  |  | (51) |
Foreign exchange and other | 3 |  |  | (13) |  |  | 11 |  |  | (26) |
Income (loss) before (provision for) benefit from income taxes | $ | 216 |  |  | $ | 75 |  |  | $ | (1,045) |  |  | $ | (540) |
Schedule of revenues by segment and product category | Revenues by segment and product category were as follows:
(in millions) | Bausch + Lomb |  | Salix |  | International Rx |  | Ortho Dermatologics |  | Diversified Products |  | Total
| Three Months Ended September 30, 2021
Pharmaceuticals | $ | 120 |  |  | $ | 525 |  |  | $ | 61 |  |  | $ | 62 |  |  | $ | 173 |  |  | $ | 941 |
Devices | 396 |  |  | — |  |  | — |  |  | 73 |  |  | — |  |  | 469 |
OTC | 365 |  |  | — |  |  | 41 |  |  | — |  |  | 3 |  |  | 409 |
Branded and Other Generics | 61 |  |  | — |  |  | 161 |  |  | — |  |  | 47 |  |  | 269 |
Other revenues | 7 |  |  | 2 |  |  | 8 |  |  | 5 |  |  | 1 |  |  | 23 |
| $ | 949 |  |  | $ | 527 |  |  | $ | 271 |  |  | $ | 140 |  |  | $ | 224 |  |  | $ | 2,111 |
| Three Months Ended September 30, 2020
Pharmaceuticals | $ | 137 |  |  | $ | 494 |  |  | $ | 64 |  |  | $ | 65 |  |  | $ | 216 |  |  | $ | 976 |
Devices | 360 |  |  | — |  |  | — |  |  | 72 |  |  | — |  |  | 432 |
OTC | 341 |  |  | — |  |  | 31 |  |  | — |  |  | 2 |  |  | 374 |
Branded and Other Generics | 71 |  |  | — |  |  | 204 |  |  | — |  |  | 54 |  |  | 329 |
Other revenues | 7 |  |  | 2 |  |  | 9 |  |  | 6 |  |  | 3 |  |  | 27 |
| $ | 916 |  |  | $ | 496 |  |  | $ | 308 |  |  | $ | 143 |  |  | $ | 275 |  |  | $ | 2,138 |
| Nine Months Ended September 30, 2021
Pharmaceuticals | $ | 379 |  |  | $ | 1,509 |  |  | $ | 187 |  |  | $ | 186 |  |  | $ | 514 |  |  | $ | 2,775 |
Devices | 1,175 |  |  | — |  |  | — |  |  | 218 |  |  | — |  |  | 1,393 |
OTC | 1,010 |  |  | — |  |  | 98 |  |  | — |  |  | 7 |  |  | 1,115 |
Branded and Other Generics | 180 |  |  | — |  |  | 579 |  |  | — |  |  | 125 |  |  | 884 |
Other revenues | 20 |  |  | 6 |  |  | 26 |  |  | 14 |  |  | 5 |  |  | 71 |
| $ | 2,764 |  |  | $ | 1,515 |  |  | $ | 890 |  |  | $ | 418 |  |  | $ | 651 |  |  | $ | 6,238 |
| Nine Months Ended September 30, 2020
Pharmaceuticals | $ | 371 |  |  | $ | 1,374 |  |  | $ | 185 |  |  | $ | 211 |  |  | $ | 559 |  |  | $ | 2,700 |
Devices | 921 |  |  | — |  |  | — |  |  | 165 |  |  | — |  |  | 1,086 |
OTC | 957 |  |  | — |  |  | 77 |  |  | — |  |  | 6 |  |  | 1,040 |
Branded and Other Generics | 196 |  |  | — |  |  | 553 |  |  | — |  |  | 159 |  |  | 908 |
Other revenues | 23 |  |  | 3 |  |  | 33 |  |  | 15 |  |  | 6 |  |  | 80 |
| $ | 2,468 |  |  | $ | 1,377 |  |  | $ | 848 |  |  | $ | 391 |  |  | $ | 730 |  |  | $ | 5,814 |
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 September 30, |  | Nine Months Ended September 30,
(in millions) | 2021 |  | 2020 |  | 2021 |  | 2020
U.S. and Puerto Rico | $ | 1,251 |  |  | $ | 1,301 |  |  | $ | 3,629 |  |  | $ | 3,522 |
China | 120 |  |  | 94 |  |  | 349 |  |  | 231 |
Canada | 84 |  |  | 87 |  |  | 247 |  |  | 244 |
Poland | 70 |  |  | 57 |  |  | 203 |  |  | 168 |
Mexico | 66 |  |  | 68 |  |  | 191 |  |  | 157 |
Japan | 57 |  |  | 57 |  |  | 172 |  |  | 159 |
France | 50 |  |  | 42 |  |  | 160 |  |  | 131 |
Egypt | 20 |  |  | 59 |  |  | 154 |  |  | 175 |
Germany | 36 |  |  | 32 |  |  | 116 |  |  | 108 |
Russia | 42 |  |  | 32 |  |  | 106 |  |  | 89 |
United Kingdom | 31 |  |  | 21 |  |  | 83 |  |  | 58 |
Spain | 20 |  |  | 21 |  |  | 62 |  |  | 53 |
Other | 264 |  |  | 267 |  |  | 766 |  |  | 719 |
| $ | 2,111 |  |  | $ | 2,138 |  |  | $ | 6,238 |  |  | $ | 5,814 |
Schedule of customers that accounted for 10% or more of total revenue | Customers that accounted for 10% or more of total revenues were as follows:
| Nine Months Ended September 30,
| 2021 |  | 2020
AmerisourceBergen Corporation | 18% |  | 17%
McKesson Corporation (including McKesson Specialty) | 16% |  | 17%
Cardinal Health, Inc. | 12% |  | 13%

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
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