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SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of segment revenues and profit | Segment revenues and profits were as follows:
| Three Months Ended March 31,
(in millions) | 2024 |  | 2023
Revenues: |  |  |
Salix | $ | 499 |  |  | $ | 496 |
International | 265 |  |  | 247 |
Solta Medical | 88 |  |  | 73 |
Diversified | 202 |  |  | 197 |
Bausch + Lomb | 1,099 |  |  | 931 |
| $ | 2,153 |  |  | $ | 1,944 |
Segment profits: |  |  |
Salix | $ | 329 |  |  | $ | 314 |
International | 87 |  |  | 77 |
Solta Medical | 40 |  |  | 36 |
Diversified | 114 |  |  | 107 |
Bausch + Lomb | 242 |  |  | 211 |
| 812 |  |  | 745 |
Corporate | (244) |  |  | (251) |
Amortization of intangible assets | (274) |  |  | (273) |
Asset impairments | (1) |  |  | (13) |
Restructuring, integration and separation costs | (12) |  |  | (10) |
Other expense, net | — |  |  | (23) |
Operating income | 281 |  |  | 175 |
Interest income | 9 |  |  | 6 |
Interest expense | (355) |  |  | (307) |
Gain on extinguishment of debt | 11 |  |  | — |
Foreign exchange and other | (15) |  |  | (10) |
Loss before income taxes | $ | (69) |  |  | $ | (136) |
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, 2024
Pharmaceuticals | $ | 499 |  |  | $ | 56 |  |  | $ | — |  |  | $ | 171 |  |  | $ | 209 |  |  | $ | 935 |
Devices | — |  |  | — |  |  | 88 |  |  | — |  |  | 424 |  |  | 512 |
OTC | — |  |  | 41 |  |  | — |  |  | 1 |  |  | 395 |  |  | 437 |
Branded and Other Generics | — |  |  | 153 |  |  | — |  |  | 26 |  |  | 66 |  |  | 245 |
Other revenues | — |  |  | 15 |  |  | — |  |  | 4 |  |  | 5 |  |  | 24 |
| $ | 499 |  |  | $ | 265 |  |  | $ | 88 |  |  | $ | 202 |  |  | $ | 1,099 |  |  | $ | 2,153 |
| 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 |
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) | 2024 |  | 2023
U.S. and Puerto Rico | $ | 1,254 |  |  | $ | 1,111 |
China | 97 |  |  | 88 |
Canada | 90 |  |  | 84 |
Poland | 86 |  |  | 75 |
Mexico | 76 |  |  | 69 |
France | 61 |  |  | 57 |
Germany | 44 |  |  | 43 |
Japan | 43 |  |  | 50 |
Russia | 36 |  |  | 34 |
United Kingdom | 33 |  |  | 30 |
South Korea | 30 |  |  | 22 |
Italy | 24 |  |  | 21 |
Spain | 23 |  |  | 22 |
Other | 256 |  |  | 238 |
| $ | 2,153 |  |  | $ | 1,944 |
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,
| 2024 |  | 2023
Cencora Inc. | 18% |  | 19%
McKesson Corporation (including McKesson Specialty) | 16% |  | 14%
Cardinal Health, Inc. | 14% |  | 13%

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