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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of segment revenues and profit

Segment revenues and profits were as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
(in millions)			2024						2023						2024						2023
Revenues:
Salix			$	642					$	614					$	1,699					$	1,667
International			291						275						832						781
Solta Medical			112						83						302						244
Diversified			269						259						722						684
Bausch + Lomb			1,196						1,007						3,511						2,973
			$	2,510					$	2,238					$	7,066					$	6,349
Segment profits:
Salix			$	436					$	429					$	1,142					$	1,129
International			105						91						278						236
Solta Medical			53						33						140						114
Diversified			189						172						469						417
Bausch + Lomb			283						244						799						699
			1,066						969						2,828						2,595
Corporate			(248)						(222)						(746)						(703)
Amortization of intangible assets			(274)						(253)						(818)						(795)
Goodwill impairments			—						(402)						—						(402)
Asset impairments			—						(4)						(6)						(54)
Restructuring, integration and separation costs			(1)						(14)						(25)						(40)
Other expense, net			(225)						(60)						(245)						—
Operating income			318						14						988						601
Interest income			7						6						24						19
Interest expense			(346)						(339)						(1,051)						(965)
Gain on extinguishment of debt			—						—						23						—
Foreign exchange and other			—						(7)						(26)						(38)
Loss before income taxes			$	(21)					$	(326)					$	(42)					$	(383)

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 September 30, 2024
Pharmaceuticals			$	642					$	63					$	—					$	246					$	247					$	1,198
Devices			—						—						112						—						455						567
OTC			—						50						—						2						420						472
Branded and Other Generics			—						161						—						14						70						245
Other revenues			—						17						—						7						4						28
			$	642					$	291					$	112					$	269					$	1,196					$	2,510
			Three Months Ended September 30, 2023
Pharmaceuticals			$	613					$	63					$	—					$	210					$	113					$	999
Devices			—						—						83						—						411						494
OTC			—						47						—						2						408						457
Branded and Other Generics			—						151						—						40						72						263
Other revenues			1						14						—						7						3						25
			$	614					$	275					$	83					$	259					$	1,007					$	2,238
			Nine Months Ended September 30, 2024
Pharmaceuticals			$	1,698					$	184					$	—					$	637					$	701					$	3,220
Devices			—						—						302						—						1,324						1,626
OTC			—						131						—						5						1,262						1,398
Branded and Other Generics			—						469						—						65						212						746
Other revenues			1						48						—						15						12						76
			$	1,699					$	832					$	302					$	722					$	3,511					$	7,066
			Nine Months Ended September 30, 2023
Pharmaceuticals			$	1,668					$	178					$	—					$	567					$	355					$	2,768
Devices			—						—						244						—						1,225						1,469
OTC			—						125						—						6						1,182						1,313
Branded and Other Generics			—						438						—						92						201						731
Other revenues			(1)						40						—						19						10						68
			$	1,667					$	781					$	244					$	684					$	2,973					$	6,349

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 September 30,												Nine Months Ended September 30,
(in millions)			2024						2023						2024						2023
U.S. and Puerto Rico			$	1,535					$	1,358					$	4,227					$	3,738
China			132						113						351						315
Canada			104						92						293						268
Poland			92						82						256						232
Mexico			88						90						248						234
France			52						49						178						169
Japan			46						47						136						145
Russia			42						35						117						105
Germany			40						34						125						119
South Korea			38						24						102						69
United Kingdom			34						32						100						92
Italy			23						20						71						64
Spain			21						20						71						67
Other			263						242						791						732
			$	2,510					$	2,238					$	7,066					$	6,349

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

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

			Nine Months Ended September 30,
			2024						2023
Cencora Inc.			19%						19%
McKesson Corporation (including McKesson Specialty)			16%						15%
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.

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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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