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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of segment revenues and profit

Segment revenues and profits were as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
(in millions)			2024						2023						2024						2023
Revenues:
Salix			$	558					$	557					$	1,057					$	1,053
International			276						259						541						506
Solta Medical			102						88						190						161
Diversified			251						228						453						425
Bausch + Lomb			1,216						1,035						2,315						1966
			$	2,403					$	2,167					$	4,556					$	4,111
Segment profits:
Salix			$	377					$	386					$	706					$	700
International			86						68						173						145
Solta Medical			47						45						87						81
Diversified			166						138						280						245
Bausch + Lomb			274						244						516						455
			950						881						1,762						1,626
Corporate			(254)						(230)						(498)						(481)
Amortization of intangible assets			(270)						(269)						(544)						(542)
Asset impairments			(5)						(37)						(6)						(50)
Restructuring, integration and separation costs			(12)						(16)						(24)						(26)
Other (expense) income, net			(20)						83						(20)						60
Operating income			389						412						670						587
Interest income			8						7						17						13
Interest expense			(350)						(319)						(705)						(626)
Gain on extinguishment of debt			12						—						23						—
Foreign exchange and other			(11)						(21)						(26)						(31)
Income (loss) before income taxes			$	48					$	79					$	(21)					$	(57)

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 June 30, 2024
Pharmaceuticals			$	557					$	63					$	—					$	220					$	245					$	1,085
Devices			—						—						102						—						445						547
OTC			—						41						—						2						447						490
Branded and Other Generics			—						157						—						25						76						258
Other revenues			1						15						—						4						3						23
			$	558					$	276					$	102					$	251					$	1,216					$	2,403
			Three Months Ended June 30, 2023
Pharmaceuticals			$	558					$	60					$	—					$	194					$	134					$	946
Devices			—						—						88						—						408						496
OTC			—						39						—						1						421						461
Branded and Other Generics			—						148						—						27						68						243
Other revenues			(1)						12						—						6						4						21
			$	557					$	259					$	88					$	228					$	1,035					$	2,167
			Six Months Ended June 30, 2024
Pharmaceuticals			$	1,056					$	121					$	—					$	391					$	454					$	2,022
Devices			—						—						190						—						869						1,059
OTC			—						80						—						3						842						925
Branded and Other Generics			—						310						—						50						142						502
Other revenues			1						30						—						9						8						48
			$	1,057					$	541					$	190					$	453					$	2,315					$	4,556
			Six Months Ended June 30, 2023
Pharmaceuticals			$	1,054					$	117					$	—					$	356					$	242					$	1,769
Devices			—						—						161						—						814						975
OTC			—						78						—						3						774						855
Branded and Other Generics			—						286						—						54						129						469
Other revenues			(1)						25						—						12						7						43
			$	1,053					$	506					$	161					$	425					$	1,966					$	4,111

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 June 30,												Six Months Ended June 30,
(in millions)			2024						2023						2024						2023
U.S. and Puerto Rico			$	1,438					$	1,269					$	2,692					$	2,380
China			122						114						219						202
Canada			99						92						189						176
Mexico			84						75						160						144
Poland			78						75						164						150
France			65						63						126						120
Japan			47						48						90						98
Germany			41						42						85						85
Russia			39						36						75						70
South Korea			34						23						64						45
United Kingdom			33						30						66						60
Spain			27						25						50						47
Italy			24						23						48						44
Other			272						252						528						490
			$	2,403					$	2,167					$	4,556					$	4,111

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:

			Six Months Ended June 30,
			2024						2023
Cencora Inc.			18%						18%
McKesson Corporation (including McKesson Specialty)			16%						14%
Cardinal Health, Inc.			14%						13%

X

- 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

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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.

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