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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Reportable Segments
The following is a brief description of the Company’s segments:
•The Salix segment consists of sales in the U.S. of GI products. Sales of the Xifaxan® product line represented approximately 80% of the Salix segment’s revenues.
•The International segment consists of sales, with the exception of sales of Bausch + Lomb products and Solta aesthetic medical devices, outside the U.S and Puerto Rico of branded pharmaceutical products, branded generic pharmaceutical and OTC products.
•The Solta Medical segment consists of global sales of Solta Medical (“Solta”) aesthetic medical devices.
•The Diversified Products segment consists of sales in the U.S. of: (i) pharmaceutical products in the areas of neurology and certain other therapeutic classes, (ii) generic products, (iii) Ortho Dermatologics (dermatological products) and (iv) dentistry products.
•The Bausch + Lomb segment consists of global sales of Bausch + Lomb Vision Care, Surgical and Ophthalmic Pharmaceuticals products.
Segment profit is based on operating income after the elimination of intercompany transactions. Certain costs, such as Amortization of intangible assets, Asset impairments, including loss on assets held for sale, Restructuring, integration, separation and IPO costs, and Other expense, net, are not included in the measure of segment profit, as management excludes these items in assessing segment financial performance.
Corporate includes the finance, treasury, certain research and development programs, tax and legal operations of the Company’s businesses and incurs certain expenses, gains and losses related to the overall management of the Company, which are not allocated to the other business segments. In assessing segment performance and managing operations, management does not review segment assets. Furthermore, a portion of share-based compensation is considered a corporate cost, since the amount of such expense depends on company-wide performance rather than the operating performance of any single segment.
Segment Revenues and Profit
Segment revenues and profits for the years 2022, 2021 and 2020 were as follows:
(in millions)202220212020
Revenues:  
Salix$2,090 $2,074 $1,904 
International988 1,166 1,181 
Solta Medical300 308 253 
Diversified Products978 1,121 1,274 
Bausch + Lomb3,768 3,765 3,415 
Total revenues$8,124 $8,434 $8,027 
Segment profit:   
Salix$1,489 $1,493 $1,338 
International324 403 386 
Solta Medical135 167 131 
Diversified Products612 722 814 
Bausch + Lomb874 958 909 
Total3,434 3,743 3,578 
Corporate(828)(792)(619)
Amortization of intangible assets(1,215)(1,375)(1,645)
Goodwill impairments(824)(469)— 
Asset impairments, including loss on assets held for sale(15)(234)(114)
Restructuring, integration, separation and IPO costs(63)(50)(22)
Other expense, net(35)(373)(502)
Operating income454 450 676 
Interest income14 7 13 
Interest expense(1,464)(1,426)(1,534)
Gain (loss) on extinguishment of debt875 (62)(59)
Foreign exchange and other(8)7 (30)
Loss before income taxes$(129)$(1,024)$(934)
Certain reclassifications have been made to segment revenue and profit in order for the prior years to conform to current year presentation. These reclassifications are not material.
Capital Expenditures
Capital expenditures by segment for the years 2022, 2021 and 2020 were as follows:
(in millions)202220212020
Capital expenditures:   
Salix$3 $2 $3 
International21 22 29 
Solta Medical3 2 4 
Diversified Products1 — — 
Bausch + Lomb178 201 253 
206 227 289 
Corporate14 42 13 
Total capital expenditures$220 $269 $302 
Revenues by Product and by Product Category
Revenues for the Company’s top ten products for the years 2022, 2021 and 2020 represented 49%, 43% and 41% of total product sales, respectively. Revenues by segment and product category were as follows:
SalixInternationalSolta MedicalDiversified ProductsBausch + LombTotal
(in millions)For the year ended December 31, 2022
Pharmaceuticals$2,090 $279 $— $826 $481 $3,676 
Devices— — 300 — 1,572 1,872 
OTC— 151 — 7 1,453 1,611 
Branded and Other Generics — 527 — 120 240 887 
Other revenues— 31 — 25 22 78 
$2,090 $988 $300 $978 $3,768 $8,124 
SalixInternationalSolta MedicalDiversified ProductsBausch + LombTotal
For the year ended December 31, 2021
Pharmaceuticals$2,066 $259 $— $924 $514 $3,763 
Devices— — 308 — 1,595 1,903 
OTC— 136 — 7 1,389 1,532 
Branded and Other Generics — 738 — 167 239 1,144 
Other revenues8 33 — 23 28 92 
$2,074 $1,166 $308 $1,121 $3,765 $8,434 
SalixInternationalSolta MedicalDiversified ProductsBausch + LombTotal
For the year ended December 31, 2020
Pharmaceuticals$1,899 $255 $— $1,020 $506 $3,680 
Devices— — 253 — 1,313 1,566 
OTC— 112 — 7 1,311 1,430 
Branded and Other Generics — 775 — 219 254 1,248 
Other revenues5 39 — 28 31 103 
$1,904 $1,181 $253 $1,274 $3,415 $8,027 
Geographic Information
Revenues are attributed to a geographic region based on the location of the customer for the years 2022, 2021 and 2020 were as follows:
(in millions)202220212020
U.S. and Puerto Rico$4,836 $4,887 $4,791 
China413 490 341 
Canada351 343 331 
Poland278 280 238 
Mexico276 256 225 
Japan200 230 226 
France203 208 179 
Russia181 160 137 
Germany147 154 144 
United Kingdom115 116 86 
Spain84 88 78 
South Korea77 76 68 
Italy76 80 71 
Other887 1,066 1,112 
$8,124 $8,434 $8,027 
Certain reclassifications have been made and are reflected in the table above.
Long-lived assets consisting of property, plant and equipment, net of accumulated depreciation, are attributed to geographic regions based on their physical location as of December 31, 2022 and 2021 were as follows:
(in millions)20222021
U.S. and Puerto Rico$725 $743 
Ireland363 336 
Canada126 123 
Germany89 87 
Poland65 75 
Mexico46 45 
France44 39 
China26 30 
Serbia23 25 
Italy 20 21 
Other 73 74 
$1,600 $1,598 
Major Customers
Customers that accounted for 10% or more of total revenues were as follows:
202220212020
AmerisourceBergen Corporation18%18%17%
McKesson Corporation15%16%17%
Cardinal Health, Inc.13%12%13%