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v3.23.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Schedule of segment revenues and profit | Segment revenues and profits were as follows:
| Three Months Ended March 31, |  |
(in millions) | 2023 |  | 2022 |  |  |  |
Revenues: |  |  |  |  |  |  |
Salix | $ | 496 |  |  | $ | 464 |  |  |  |  |
International | 247 |  |  | 244 |  |  |  |  |
Solta Medical | 73 |  |  | 72 |  |  |  |  |
Diversified | 197 |  |  | 249 |  |  |  |  |
Bausch + Lomb | 931 |  |  | 889 |  |  |  |  |
| $ | 1,944 |  |  | $ | 1,918 |  |  |  |  |
Segment profits: |  |  |  |  |  |  |
Salix | $ | 314 |  |  | $ | 322 |  |  |  |  |
International | 77 |  |  | 91 |  |  |  |  |
Solta Medical | 36 |  |  | 35 |  |  |  |  |
Diversified | 107 |  |  | 158 |  |  |  |  |
Bausch + Lomb | 211 |  |  | 206 |  |  |  |  |
| 745 |  |  | 812 |  |  |  |  |
Corporate | (251) |  |  | (194) |  |  |  |  |
Amortization of intangible assets | (273) |  |  | (310) |  |  |  |  |
Asset impairments | (13) |  |  | (8) |  |  |  |  |
Restructuring, integration, separation and IPO costs | (10) |  |  | (13) |  |  |  |  |
Other expense, net | (23) |  |  | (2) |  |  |  |  |
Operating income | 175 |  |  | 285 |  |  |  |  |
Interest income | 6 |  |  | 2 |  |  |  |  |
Interest expense | (307) |  |  | (362) |  |  |  |  |
Foreign exchange and other | (10) |  |  | (7) |  |  |  |  |
Loss before income taxes | $ | (136) |  |  | $ | (82) |  |  |  |  |
Schedule of revenues by segment and product category | Revenues by segment and product category were as follows:
(in millions) | Salix |  | International |  | Solta Medical |  | Diversified |  | Bausch + Lomb |  | Total
| Three Months Ended March 31, 2023
Pharmaceuticals | $ | 496 |  |  | $ | 57 |  |  | $ | — |  |  | $ | 162 |  |  | $ | 108 |  |  | $ | 823 |
Devices | — |  |  | — |  |  | 73 |  |  | — |  |  | 406 |  |  | 479 |
OTC | — |  |  | 39 |  |  | — |  |  | 2 |  |  | 353 |  |  | 394 |
Branded and Other Generics | — |  |  | 138 |  |  | — |  |  | 27 |  |  | 61 |  |  | 226 |
Other revenues | — |  |  | 13 |  |  | — |  |  | 6 |  |  | 3 |  |  | 22 |
| $ | 496 |  |  | $ | 247 |  |  | $ | 73 |  |  | $ | 197 |  |  | $ | 931 |  |  | $ | 1,944 |
| Three Months Ended March 31, 2022
Pharmaceuticals | $ | 464 |  |  | $ | 58 |  |  | $ | — |  |  | $ | 205 |  |  | $ | 107 |  |  | $ | 834 |
Devices | — |  |  | — |  |  | 72 |  |  | — |  |  | 386 |  |  | 458 |
OTC | — |  |  | 38 |  |  | — |  |  | 2 |  |  | 336 |  |  | 376 |
Branded and Other Generics | — |  |  | 133 |  |  | — |  |  | 36 |  |  | 54 |  |  | 223 |
Other revenues | — |  |  | 15 |  |  | — |  |  | 6 |  |  | 6 |  |  | 27 |
| $ | 464 |  |  | $ | 244 |  |  | $ | 72 |  |  | $ | 249 |  |  | $ | 889 |  |  | $ | 1,918 |
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 March 31,
(in millions) |  |  |  |  | 2023 |  | 2022
U.S. and Puerto Rico |  |  |  |  | $ | 1,111 |  |  | $ | 1,115 |
China |  |  |  |  | 88 |  |  | 103 |
Canada |  |  |  |  | 84 |  |  | 78 |
Poland |  |  |  |  | 75 |  |  | 76 |
Mexico |  |  |  |  | 69 |  |  | 61 |
France |  |  |  |  | 57 |  |  | 57 |
Japan |  |  |  |  | 50 |  |  | 51 |
Germany |  |  |  |  | 43 |  |  | 45 |
United Kingdom |  |  |  |  | 30 |  |  | 28 |
Russia |  |  |  |  | 34 |  |  | 25 |
Spain |  |  |  |  | 22 |  |  | 21 |
Italy |  |  |  |  | 21 |  |  | 20 |
South Korea |  |  |  |  | 22 |  |  | 19 |
Other |  |  |  |  | 238 |  |  | 219 |
|  |  |  |  | $ | 1,944 |  |  | $ | 1,918 |
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:
| Three Months Ended March 31,
| 2023 |  | 2022
AmerisourceBergen Corporation | 19% |  | 18%
McKesson Corporation (including McKesson Specialty) | 14% |  | 14%
Cardinal Health, Inc. | 13% |  | 13%

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 + Details
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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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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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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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