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SEGMENT INFORMATION (Tables)

9 Months Ended

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%

X

- 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.

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