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v3.22.2.2

SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2022
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) | 2022 |  | 2021 |  | 2022 |  | 2021
Revenues: |  |  |  |  |  |  |
Salix | $ | 544 |  |  | $ | 527 |  |  | $ | 1,509 |  |  | $ | 1,515 |
International | 250 |  |  | 271 |  |  | 727 |  |  | 890 |
Solta Medical | 72 |  |  | 74 |  |  | 201 |  |  | 219 |
Diversified Products | 238 |  |  | 290 |  |  | 722 |  |  | 850 |
Bausch + Lomb | 942 |  |  | 949 |  |  | 2,772 |  |  | 2,764 |
| $ | 2,046 |  |  | $ | 2,111 |  |  | $ | 5,931 |  |  | $ | 6,238 |
Segment profits: |  |  |  |  |  |  |
Salix | $ | 391 |  |  | $ | 377 |  |  | $ | 1,067 |  |  | $ | 1,074 |
International | 85 |  |  | 92 |  |  | 242 |  |  | 304 |
Solta Medical | 33 |  |  | 40 |  |  | 88 |  |  | 120 |
Diversified Products | 151 |  |  | 185 |  |  | 450 |  |  | 547 |
Bausch + Lomb | 226 |  |  | 247 |  |  | 640 |  |  | 699 |
| 886 |  |  | 941 |  |  | 2,487 |  |  | 2,744 |
Corporate | (218) |  |  | (186) |  |  | (614) |  |  | (566) |
Amortization of intangible assets | (290) |  |  | (338) |  |  | (902) |  |  | (1,055) |
Goodwill impairments | (119) |  |  | — |  |  | (202) |  |  | (469) |
Asset impairments, including loss on assets held for sale | (1) |  |  | (18) |  |  | (15) |  |  | (213) |
Restructuring, integration, separation and IPO costs | (10) |  |  | (8) |  |  | (58) |  |  | (29) |
Other income (expense), net | (4) |  |  | 183 |  |  | (6) |  |  | (329) |
Operating income | 244 |  |  | 574 |  |  | 690 |  |  | 83 |
Interest income | 3 |  |  | 2 |  |  | 8 |  |  | 6 |
Interest expense | (385) |  |  | (351) |  |  | (1,157) |  |  | (1,083) |
Gain (loss) on extinguishment of debt | 570 |  |  | (12) |  |  | 683 |  |  | (62) |
Foreign exchange and other | 7 |  |  | 3 |  |  | 4 |  |  | 11 |
Income (loss) before income taxes | $ | 439 |  |  | $ | 216 |  |  | $ | 228 |  |  | $ | (1,045) |
Schedule of revenues by segment and product category | Revenues by segment and product category were as follows:
(in millions) | Salix |  | International |  | Solta Medical |  | Diversified Products |  | Bausch + Lomb |  | Total
| Three Months Ended September 30, 2022
Pharmaceuticals | $ | 543 |  |  | $ | 72 |  |  | $ | — |  |  | $ | 206 |  |  | $ | 121 |  |  | $ | 942 |
Devices | — |  |  | — |  |  | 72 |  |  | — |  |  | 390 |  |  | 462 |
OTC | — |  |  | 38 |  |  | — |  |  | 2 |  |  | 362 |  |  | 402 |
Branded and Other Generics | — |  |  | 131 |  |  | — |  |  | 24 |  |  | 65 |  |  | 220 |
Other revenues | 1 |  |  | 9 |  |  | — |  |  | 6 |  |  | 4 |  |  | 20 |
| $ | 544 |  |  | $ | 250 |  |  | $ | 72 |  |  | $ | 238 |  |  | $ | 942 |  |  | $ | 2,046 |
| Three Months Ended September 30, 2021
Pharmaceuticals | $ | 525 |  |  | $ | 61 |  |  | $ | — |  |  | $ | 234 |  |  | $ | 121 |  |  | $ | 941 |
Devices | — |  |  | — |  |  | 74 |  |  | — |  |  | 395 |  |  | 469 |
OTC | — |  |  | 41 |  |  | — |  |  | 3 |  |  | 365 |  |  | 409 |
Branded and Other Generics | — |  |  | 161 |  |  | — |  |  | 47 |  |  | 61 |  |  | 269 |
Other revenues | 2 |  |  | 8 |  |  | — |  |  | 6 |  |  | 7 |  |  | 23 |
| $ | 527 |  |  | $ | 271 |  |  | $ | 74 |  |  | $ | 290 |  |  | $ | 949 |  |  | $ | 2,111 |
| Nine Months Ended September 30, 2022
Pharmaceuticals | $ | 1,508 |  |  | $ | 206 |  |  | $ | — |  |  | $ | 608 |  |  | $ | 348 |  |  | $ | 2,670 |
Devices | — |  |  | — |  |  | 201 |  |  | — |  |  | 1,168 |  |  | 1,369 |
OTC | — |  |  | 111 |  |  | — |  |  | 5 |  |  | 1,061 |  |  | 1,177 |
Branded and Other Generics | — |  |  | 386 |  |  | — |  |  | 91 |  |  | 178 |  |  | 655 |
Other revenues | 1 |  |  | 24 |  |  |  |  | 18 |  |  | 17 |  |  | 60 |
| $ | 1,509 |  |  | $ | 727 |  |  | $ | 201 |  |  | $ | 722 |  |  | $ | 2,772 |  |  | $ | 5,931 |
| Nine Months Ended September 30, 2021
Pharmaceuticals | $ | 1,509 |  |  | $ | 187 |  |  | $ | — |  |  | $ | 699 |  |  | $ | 380 |  |  | $ | 2,775 |
Devices | — |  |  | — |  |  | 219 |  |  | — |  |  | 1,174 |  |  | 1,393 |
OTC | — |  |  | 98 |  |  | — |  |  | 7 |  |  | 1,010 |  |  | 1,115 |
Branded and Other Generics | — |  |  | 579 |  |  | — |  |  | 125 |  |  | 180 |  |  | 884 |
Other revenues | 6 |  |  | 26 |  |  | — |  |  | 19 |  |  | 20 |  |  | 71 |
| $ | 1,515 |  |  | $ | 890 |  |  | $ | 219 |  |  | $ | 850 |  |  | $ | 2,764 |  |  | $ | 6,238 |
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) | 2022 |  | 2021 |  | 2022 |  | 2021
U.S. and Puerto Rico | $ | 1,219 |  |  | $ | 1,251 |  |  | $ | 3,524 |  |  | $ | 3,629 |
China | 116 |  |  | 121 |  |  | 293 |  |  | 350 |
Canada | 92 |  |  | 84 |  |  | 258 |  |  | 247 |
Poland | 65 |  |  | 70 |  |  | 204 |  |  | 203 |
Mexico | 70 |  |  | 66 |  |  | 200 |  |  | 191 |
France | 44 |  |  | 50 |  |  | 159 |  |  | 160 |
Japan | 47 |  |  | 57 |  |  | 148 |  |  | 172 |
Germany | 55 |  |  | 64 |  |  | 112 |  |  | 116 |
United Kingdom | 22 |  |  | 19 |  |  | 85 |  |  | 83 |
Russia | 42 |  |  | 36 |  |  | 122 |  |  | 106 |
Spain | 17 |  |  | 20 |  |  | 61 |  |  | 62 |
Italy | 17 |  |  | 20 |  |  | 60 |  |  | 58 |
South Korea | 19 |  |  | 18 |  |  | 58 |  |  | 58 |
Other | 221 |  |  | 235 |  |  | 647 |  |  | 803 |
| $ | 2,046 |  |  | $ | 2,111 |  |  | $ | 5,931 |  |  | $ | 6,238 |
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,
| 2022 |  | 2021
AmerisourceBergen Corporation | 16% |  | 18%
McKesson Corporation (including McKesson Specialty) | 13% |  | 16%
Cardinal Health, Inc. | 11% |  | 12%

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
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