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SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of segment revenues and profit

Segment revenues and profits for the years 2023, 2022 and 2021 were as follows:

(in millions)			2023						2022						2021
Revenues:
Salix			$	2,250					$	2,090					$	2,074
International			1,071						988						1,166
Solta Medical			347						300						308
Diversified			943						978						1,121
Bausch + Lomb			4,146						3,768						3,765
Total revenues			$	8,757					$	8,124					$	8,434
Segment profit:
Salix			$	1,548					$	1,489					$	1,493
International			335						324						403
Solta Medical			161						135						167
Diversified			586						612						722
Bausch + Lomb			980						874						958
Total			3,610						3,434						3,743
Corporate			(933)						(828)						(792)
Amortization of intangible assets			(1,077)						(1,215)						(1,375)
Goodwill impairments			(493)						(824)						(469)
Asset impairments, including loss on assets held for sale			(54)						(15)						(234)
Restructuring, integration, separation and IPO costs			(62)						(63)						(50)
Other expense, net			(28)						(35)						(373)
Operating income			963						454						450
Interest income			26						14						7
Interest expense			(1,328)						(1,464)						(1,426)
Gain (loss) on extinguishment of debt			1						875						(62)
Foreign exchange and other			(52)						(8)						7
Loss before income taxes			$	(390)					$	(129)					$	(1,024)

Schedule of capital expenditures, depreciation and amortization by segment

Capital expenditures by segment for the years 2023, 2022 and 2021 were as follows:

(in millions)			2023						2022						2021
Capital expenditures:
Salix			$	7					$	3					$	2
International			20						21						22
Solta Medical			—						3						2
Diversified			3						1						—
Bausch + Lomb			181						178						201
			211						206						227
Corporate			4						14						42
Total capital expenditures			$	215					$	220					$	269

Schedule of revenues by segment and by product category

Revenues by segment and product category were as follows:

			Salix						International						Solta Medical						Diversified						Bausch + Lomb						Total
(in millions)			For the year ended December 31, 2023
Pharmaceuticals			$	2,251					$	250					$	—					$	790					$	618					$	3,909
Devices			—						—						347						—						1,650						1,997
OTC			—						179						—						7						1,611						1,797
Branded and Other Generics			—						588						—						120						252						960
Other revenues			(1)						54						—						26						15						94
			$	2,250					$	1,071					$	347					$	943					$	4,146					$	8,757

			For the year ended December 31, 2022
Pharmaceuticals			$	2,090					$	258					$	—					$	826					$	468					$	3,642
Devices			—						—						300						—						1,572						1,872
OTC			—						151						—						7						1,461						1,619
Branded and Other Generics			—						527						—						120						245						892
Other revenues			—						52						—						25						22						99
			$	2,090					$	988					$	300					$	978					$	3,768					$	8,124

			For the year ended December 31, 2021
Pharmaceuticals			$	2,066					$	260					$	—					$	924					$	493					$	3,743
Devices			—						—						308						—						1,595						1,903
OTC			—						136						—						7						1,395						1,538
Branded and Other Generics			—						723						—						167						254						1,144
Other revenues			8						47						—						23						28						106
			$	2,074					$	1,166					$	308					$	1,121					$	3,765					$	8,434

Schedule of revenues by geographic region

Revenues are attributed to a geographic region based on the location of the customer for the years 2023, 2022 and 2021 and were as follows:

(in millions)			2023						2022						2021
U.S. and Puerto Rico			$	5,194					$	4,836					$	4,887
China			441						413						490
Canada			366						351						343
Mexico			322						276						256
Poland			319						278						280
France			214						203						208
Japan			194						200						230
Germany			152						147						154
Russia			148						181						160
United Kingdom			125						115						116
South Korea			93						77						76
Spain			92						84						88
Italy			86						76						80
Other			1,011						887						1,066
			$	8,757					$	8,124					$	8,434

Schedule of long-lived assets by geographic region

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, 2023 and 2022 and were as follows:

(in millions)			2023						2022
U.S. and Puerto Rico			$	750					$	725
Ireland			400						363
Canada			135						126
Germany			98						89
Poland			70						65
France			52						44
Mexico			51						46
China			23						26
Serbia			23						23
Italy			23						20
Other			82						73
			$	1,707					$	1,600

Schedule of external customers that accounted for 10% or more of total revenues

Customers that accounted for 10% or more of total revenues were as follows:

			2023						2022						2021
Cencora Inc.			19%						18%						18%
McKesson Corporation			15%						15%						16%
Cardinal Health, Inc.			13%						13%						12%

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

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