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INTANGIBLE ASSETS AND GOODWILL (Tables) | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of indefinite-lived intangible assets | The major components of intangible assets consist of:
|  | June 30, 2022 |  | December 31, 2021
(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 |  | $ | 20,807 |  |  | $ | (16,695) |  |  | $ | 4,112 |  |  | $ | 20,842 |  |  | $ | (16,169) |  |  | $ | 4,673 |
Corporate brands |  | 897 |  |  | (506) |  |  | 391 |  |  | 902 |  |  | (473) |  |  | 429 |
Product rights/patents |  | 3,318 |  |  | (3,197) |  |  | 121 |  |  | 3,321 |  |  | (3,174) |  |  | 147 |
Partner relationships |  | 146 |  |  | (146) |  |  | — |  |  | 158 |  |  | (158) |  |  | — |
Technology and other |  | 196 |  |  | (196) |  |  | — |  |  | 207 |  |  | (206) |  |  | 1 |
Total finite-lived intangible assets |  | 25,364 |  |  | (20,740) |  |  | 4,624 |  |  | 25,430 |  |  | (20,180) |  |  | 5,250 |
Bausch + Lomb Trademark |  | 1,698 |  |  | — |  |  | 1,698 |  |  | 1,698 |  |  | — |  |  | 1,698 |
|  | $ | 27,062 |  |  | $ | (20,740) |  |  | $ | 6,322 |  |  | $ | 27,128 |  |  | $ | (20,180) |  |  | $ | 6,948 |
Schedule of finite-lived intangible assets | The major components of intangible assets consist of:
|  | June 30, 2022 |  | December 31, 2021
(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 |  | $ | 20,807 |  |  | $ | (16,695) |  |  | $ | 4,112 |  |  | $ | 20,842 |  |  | $ | (16,169) |  |  | $ | 4,673 |
Corporate brands |  | 897 |  |  | (506) |  |  | 391 |  |  | 902 |  |  | (473) |  |  | 429 |
Product rights/patents |  | 3,318 |  |  | (3,197) |  |  | 121 |  |  | 3,321 |  |  | (3,174) |  |  | 147 |
Partner relationships |  | 146 |  |  | (146) |  |  | — |  |  | 158 |  |  | (158) |  |  | — |
Technology and other |  | 196 |  |  | (196) |  |  | — |  |  | 207 |  |  | (206) |  |  | 1 |
Total finite-lived intangible assets |  | 25,364 |  |  | (20,740) |  |  | 4,624 |  |  | 25,430 |  |  | (20,180) |  |  | 5,250 |
Bausch + Lomb Trademark |  | 1,698 |  |  | — |  |  | 1,698 |  |  | 1,698 |  |  | — |  |  | 1,698 |
|  | $ | 27,062 |  |  | $ | (20,740) |  |  | $ | 6,322 |  |  | $ | 27,128 |  |  | $ | (20,180) |  |  | $ | 6,948 |
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 2022 and each of the five succeeding years ending December 31 and thereafter is as follows:
(in millions) |  | Remainder of 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter |  | Total |
Amortization |  | $ | 565 |  |  | $ | 1,020 |  |  | $ | 898 |  |  | $ | 792 |  |  | $ | 664 |  |  | $ | 627 |  |  | $ | 58 |  |  | $ | 4,624 |  |
Schedule of changes in the carrying amount of goodwill | The changes in the carrying amounts of goodwill during the six months ended June 30, 2022 and the year ended December 31, 2021 were as follows:
(in millions) |  | Bausch + Lomb/ International |  | Bausch + Lomb |  | Salix |  | International |  | Ortho Dermatologics |  | Solta Medical |  | Diversified Products |  | Total
Balance, January 1, 2021 |  | $ | 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 |  | — |  |  | (77) |  |  | — |  |  | (62) |  |  | — |  |  | — |  |  | 21 |  |  | (118) |
Balance, December 31, 2021 |  | — |  |  | 5,318 |  |  | 3,159 |  |  | 825 |  |  | 798 |  |  | — |  |  | 2,357 |  |  | 12,457 |
Realignment of segment goodwill |  | — |  |  | — |  |  | — |  |  | — |  |  | (798) |  |  | 115 |  |  | 683 |  |  | — |
Impairment |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (83) |  |  | (83) |
Foreign exchange and other |  | — |  |  | (86) |  |  | — |  |  | (52) |  |  | — |  |  | — |  |  | 30 |  |  | (108) |
Balance, June 30, 2022 |  | $ | — |  |  | $ | 5,232 |  |  | $ | 3,159 |  |  | $ | 773 |  |  | $ | — |  |  | $ | 115 |  |  | $ | 2,987 |  |  | $ | 12,266 |

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