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ACQUISITIONS, LICENSING AGREEMENTS AND DIVESTITURE (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of aggregate acquisition consideration | The estimated aggregate acquisition consideration of approximately $1,753 million is calculated as follows:
(in millions) |  |
Cash consideration paid to Novartis at closing, per the Acquisition Agreement |  | $ | 1,750 |
Estimated fair value of contingent consideration |  | 3 |
Aggregate purchase consideration |  | $ | 1,753 |
Schedule of fair values of assets acquired and liabilities assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed related to the XIIDRA Acquisition as of the acquisition date, inclusive of measurement period adjustments:
(in millions) |  |
Intangible assets, net |  | $ | 1,600 |
Prepaid expenses and other current assets |  | 162 |
Accrued and other current liabilities |  | (1) |
Other non-current liabilities |  | (31) |
Total identifiable net assets |  | 1,730 |
Goodwill |  | 23 |
Total fair value of consideration transferred |  | $ | 1,753 |
Schedule of intangible assets acquired, business combination | The intangible assets acquired, as well as their fair values and estimated useful life consist of the following:
(in millions) |  | Fair Value |  | Estimated Useful Life (In Years)
Product brand |  | $ | 1,595 |  |  | 8.75
Acquired in-process research and development intangible asset |  | 5 |  |  | N/A
Total Intangible assets, net |  | $ | 1,600 |  |  |
Schedule of pro forma information | The following table presents the unaudited pro forma combined results of the Company and the acquired assets for the years ended December 31, 2023 and 2022 as if the XIIDRA Acquisition, and the related financing, had occurred on January 1, 2022:
(in millions) |  |  |  |  |  | 2023 |  | 2022
Revenues |  |  |  |  |  | $ | 9,006 |  |  | $ | 8,611 |
Net loss |  |  |  |  |  | $ | (822) |  |  | $ | (507) |
Net loss attributable to Bausch Health Companies Inc. |  |  |  |  |  | $ | (762) |  |  | $ | (498) |
Schedule of intangible assets acquired, asset acquisition | The intangible assets acquired and estimated useful lives consist of the following:
(in millions) |  |  |  | Estimated Useful Life (In Years)
Corporate brands |  | $ | 73 |  |  | 12
Product brands |  | 12 |  |  | 10
Technology and other |  | 6 |  |  | 9
Total Intangible assets, net |  | $ | 91 |  |  |

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