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INTANGIBLE ASSETS AND GOODWILL (Tables) | 9 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of indefinite-lived intangible assets | The major components of intangible assets consist of:
|  | September 30, 2021 |  | December 31, 2020
(in millions) |  | Gross Carrying Amount |  | Accumulated Amortization and Impairments |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization and Impairments |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Product brands |  | $ | 20,845 |  |  | $ | (15,900) |  |  | $ | 4,945 |  |  | $ | 20,890 |  |  | $ | (14,914) |  |  | $ | 5,976 |
Corporate brands |  | 902 |  |  | (455) |  |  | 447 |  |  | 907 |  |  | (404) |  |  | 503 |
Product rights/patents |  | 3,307 |  |  | (3,147) |  |  | 160 |  |  | 3,305 |  |  | (3,055) |  |  | 250 |
Partner relationships |  | 160 |  |  | (160) |  |  | — |  |  | 169 |  |  | (168) |  |  | 1 |
Technology and other |  | 208 |  |  | (206) |  |  | 2 |  |  | 210 |  |  | (200) |  |  | 10 |
Total finite-lived intangible assets |  | 25,422 |  |  | (19,868) |  |  | 5,554 |  |  | 25,481 |  |  | (18,741) |  |  | 6,740 |
Acquired IPR&D not in service |  | 6 |  |  | — |  |  | 6 |  |  | 7 |  |  | — |  |  | 7 |
Bausch + Lomb Trademark |  | 1,698 |  |  | — |  |  | 1,698 |  |  | 1,698 |  |  | — |  |  | 1,698 |
|  | $ | 27,126 |  |  | $ | (19,868) |  |  | $ | 7,258 |  |  | $ | 27,186 |  |  | $ | (18,741) |  |  | $ | 8,445 |
Schedule of finite-lived intangible assets | The major components of intangible assets consist of:
|  | September 30, 2021 |  | December 31, 2020
(in millions) |  | Gross Carrying Amount |  | Accumulated Amortization and Impairments |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization and Impairments |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Product brands |  | $ | 20,845 |  |  | $ | (15,900) |  |  | $ | 4,945 |  |  | $ | 20,890 |  |  | $ | (14,914) |  |  | $ | 5,976 |
Corporate brands |  | 902 |  |  | (455) |  |  | 447 |  |  | 907 |  |  | (404) |  |  | 503 |
Product rights/patents |  | 3,307 |  |  | (3,147) |  |  | 160 |  |  | 3,305 |  |  | (3,055) |  |  | 250 |
Partner relationships |  | 160 |  |  | (160) |  |  | — |  |  | 169 |  |  | (168) |  |  | 1 |
Technology and other |  | 208 |  |  | (206) |  |  | 2 |  |  | 210 |  |  | (200) |  |  | 10 |
Total finite-lived intangible assets |  | 25,422 |  |  | (19,868) |  |  | 5,554 |  |  | 25,481 |  |  | (18,741) |  |  | 6,740 |
Acquired IPR&D not in service |  | 6 |  |  | — |  |  | 6 |  |  | 7 |  |  | — |  |  | 7 |
Bausch + Lomb Trademark |  | 1,698 |  |  | — |  |  | 1,698 |  |  | 1,698 |  |  | — |  |  | 1,698 |
|  | $ | 27,126 |  |  | $ | (19,868) |  |  | $ | 7,258 |  |  | $ | 27,186 |  |  | $ | (18,741) |  |  | $ | 8,445 |
Schedule of estimated aggregate amortization expense for each of the five succeeding years | Estimated amortization expense of finite-lived intangible assets for the remainder of 2021 and each of the five succeeding years ending December 31 and thereafter is as follows:
(in millions) |  | Remainder of 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Thereafter |  | Total |
Amortization |  | $ | 320 |  |  | $ | 1,169 |  |  | $ | 1,013 |  |  | $ | 891 |  |  | $ | 809 |  |  | $ | 678 |  |  | $ | 674 |  |  | $ | 5,554 |  |
Schedule of changes in the carrying amount of goodwill | The changes in the carrying amounts of goodwill during the nine months ended September 30, 2021 and the year ended December 31, 2020 were as follows:
(in millions) |  | Bausch + Lomb/ International |  | Bausch + Lomb |  | Salix |  | International Rx |  | Ortho Dermatologics |  | Diversified Products |  | Total
Balance, January 1, 2020 |  | $ | 5,786 |  |  | $ | — |  |  | $ | 3,159 |  |  | $ | — |  |  | $ | 1,267 |  |  | $ | 2,914 |  |  | $ | 13,126 |
Assets held for sale reclassified to goodwill |  | 18 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18 |
Goodwill reclassified to Assets held for sale (Note 4) |  | (217) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (217) |
Foreign exchange and other |  | 117 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 117 |
Balance, December 31, 2020 |  | 5,704 |  |  | — |  |  | 3,159 |  |  | — |  |  | 1,267 |  |  | 2,914 |  |  | 13,044 |
Realignment of segment goodwill |  | (5,704) |  |  | 5,395 |  |  | — |  |  | 887 |  |  | — |  |  | (578) |  |  | — |
Impairment |  | — |  |  | — |  |  | — |  |  | — |  |  | (469) |  |  | — |  |  | (469) |
Foreign exchange and other |  | — |  |  | (59) |  |  | — |  |  | (53) |  |  | — |  |  | 14 |  |  | (98) |
Balance, September 30, 2021 |  | $ | — |  |  | $ | 5,336 |  |  | $ | 3,159 |  |  | $ | 834 |  |  | $ | 798 |  |  | $ | 2,350 |  |  | $ | 12,477 |

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