XML 60 R44.htm IDEA: XBRL DOCUMENT v3.25.0.1

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Schedule of amounts recognized in accumulated other comprehensive loss

The amounts included in Accumulated other comprehensive loss as of December 31, 2024 and 2023 were as follows:

						Pension Benefit Plans																								U.S. Postretirement Benefit Plan
						U.S. Plan												Non-U.S. Plans
(in millions)						2024						2023						2024						2023						2024						2023
Unrecognized actuarial (losses) gains						$	(29)					$	(31)					$	(20)					$	(22)					$	4					$	3
Unrecognized prior service credits						$	—					$	—					$	21					$	23					$	1					$	3

Schedule of components of net periodic cost (benefit)

The table below provides the components of net periodic cost (benefit) for the Company’s defined benefit pension plans and postretirement benefit plan in 2024, 2023 and 2022:

						Pension Benefit Plans																																				U.S. Postretirement Benefit Plan
						U.S. Plan																		Non-U.S. Plans
(in millions)						2024						2023						2022						2024						2023						2022						2024						2023						2022
Service cost						$	1					$	2					$	1					$	3					$	3					$	4					$	—					$	—					$	—
Interest cost						8						9						5						5						5						4						1						1						1
Expected return on plan assets						(9)						(9)						(10)						(4)						(4)						(4)						—						—						—
Amortization of net loss						1						1						—						—						—						1						—						—						—
Amortization of prior service credit						—						—						—						(1)						(1)						(1)						(2)						(2)						(2)
Settlement loss recognized						—						—						1						1						2						8						—						—						—
Net periodic cost (benefit)						$	1					$	3					$	(3)					$	4					$	5					$	12					$	(1)					$	(1)					$	(1)

Schedule of components of the change in projected benefit obligations, change in plan assets and funded status

The table below presents components of the change in projected benefit obligation, change in plan assets and funded status for 2024 and 2023:

						Pension Benefit Plans																								U.S. Postretirement Benefit Plan
						U.S. Plan												Non-U.S. Plans
(in millions)						2024						2023						2024						2023						2024						2023
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of year						$	170					$	172					$	123					$	113					$	25					$	27
Service cost						1						2						3						3						—						—
Interest cost						8						9						5						5						1						1
Settlements						—						—						(3)						(6)						—						—
Benefits paid						(15)						(16)						(5)						(4)						(2)						(3)
Actuarial (gain) loss						(3)						3						1						8						(1)						—
Currency translation adjustments						—						—						(10)						4						—						—
Projected benefit obligation, end of year						161						170						114						123						23						25
Change in Plan Assets
Fair value of plan assets, beginning of year						162						162						100						93						—						—
Actual return on plan assets						6						16						6						9						—						—
Company contributions						2						—						3						4						2						3
Settlements						—						—						(3)						(6)						—						—
Benefits paid						(15)						(16)						(5)						(4)						(2)						(3)
Currency translation adjustments						—						—						(6)						4						—						—
Fair value of plan assets, end of year						155						162						95						100						—						—
Funded status, end of year						$	(6)					$	(8)					$	(19)					$	(23)					$	(23)					$	(25)
Recognized as:
Other non-current assets						$	—					$	—					$	22					$	20					$	—					$	—
Accrued and other current liabilities						$	—					$	—					$	2					$	3					$	3					$	3
Other non-current liabilities						$	6					$	8					$	39					$	41					$	20					$	22

Schedule of underfunded plans

Information for the underfunded pension benefit plans is as follows:

						U.S. Plan												Non-U.S. Plans
(in millions)						2024						2023						2024						2023
Projected benefit obligation						$	161					$	170					$	46					$	50
Accumulated benefit obligation						161						170						39						42
Fair value of plan assets						155						162						4						7

Schedule of future benefit payments for the pension benefit plans

Future benefit payments over the next 10 years for the pension benefit plans and the postretirement benefit plan, which reflect expected future service, as appropriate, are expected to be paid as follows:

(in millions)						Pension Benefit Plans												U.S. Postretirement  Benefit  Plan
						U.S. Plan						Non-U.S. Plans
2025						$	14					$	6					$	3
2026						19						6						3
2027						18						6						3
2028						17						7						3
2029						16						6						2
2030 - 2034						65						38						9

Schedule of weighted-average assumptions used to determine net periodic benefit costs and benefit obligations

The weighted-average assumptions used to determine net periodic benefit costs and benefit obligations for 2024, 2023 and 2022 were as follows:

						Pension Benefit Plans																		U.S. Postretirement Benefit Plan
						2024						2023						2022						2024						2023						2022
For Determining Net Periodic Cost (Benefit)
U.S. Plans:
Discount rate						5.11		%				5.41		%				2.69		%				5.08		%				5.39		%				2.57		%
Expected rate of return on plan assets						6.00		%				6.00		%				4.50		%				—						—						—
Rate of compensation increase						—						—						—						—						—						—
Interest crediting rate						4.75		%				4.75		%				4.75		%
Non-U.S. Plans:
Discount rate						6.59		%				6.67		%				4.60		%
Expected rate of return on plan assets						7.06		%				6.80		%				5.23		%
Rate of compensation increase						3.71		%				3.71		%				3.53		%
Interest crediting rate						—						—						—

						Pension Benefit Plans												U.S. Postretirement Benefit Plan
																														2024						2023						2024						2023
For Determining Benefit Obligation
U.S. Plans:
Discount rate						5.53		%				5.11		%				5.44		%				5.08		%
Rate of compensation increase						—						—						—						—
Interest crediting rate						4.75		%				4.75		%
Non-U.S. Plans:
Discount rate						6.69		%				6.59		%
Rate of compensation increase						3.74		%				3.71		%
Interest crediting rate						—						—

Schedule of actual asset allocations

The following presents the actual asset allocation as of December 31, 2024 and 2023:

						2024						2023
U.S. Plan
Cash and cash equivalents						1		%				1		%
Equity securities						29		%				39		%
Fixed income securities						70		%				60		%
Non-U.S. Plans
Cash and cash equivalents						12		%				11		%
Equity securities						26		%				24		%
Fixed income securities						14		%				47		%
Other						48		%				18		%

Schedule of fair value of pension and postretirement benefit plan assets assumed in connection with the Acquisition

The table below presents total plan assets by investment category as of December 31, 2024 and 2023 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value. There were no transfers between Level 1 and Level 2 during 2024 and 2023.

						Pension Benefit Plans - U.S. Plans
						December 31, 2024																								December 31, 2023
(in millions)						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Cash and cash equivalents						$	1					$	—					$	—					$	1					$	1					$	—					$	—					$	1
Commingled funds:
Equity securities:
U.S. broad market						—						24						—						24						—						34						—						34
Emerging markets						—						5						—						5						—						6						—						6
Worldwide developed markets						—						11						—						11						—						13						—						13
Other assets						—						6						—						6						—						10						—						10
Fixed income securities:
Investment grade						—						108						—						108						—						98						—						98
						$	1					$	154					$	—					$	155					$	1					$	161					$	—					$	162

						Pension Benefit Plans - Non-U.S. Plans
						December 31, 2024																								December 31, 2023
(in millions)						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Cash equivalents						$	—					$	11					$	—					$	11					$	—					$	11					$	—					$	11
Commingled funds:
Equity securities:
Emerging markets						—						1						—						1						—						1						—						1
Worldwide developed markets						—						23						—						23						—						23						—						23
Fixed income securities:
Investment grade						—						1						—						1						—						1						—						1
Government bond funds						1						11						—						12						1						44						—						45
Other assets						—						32						13						45						—						5						13						18
						$	1					$	79					$	13					$	93					$	1					$	85					$	13					$	99

X

- Definition

Schedule of Fair Value of Pension and Postretirement Benefit Plan Assets Assumed in Connection with Acquisition [Table Text Block]

+ References

No definition available.

+ Details

Name:	bhc_ScheduleofFairValueofPensionandPostretirementBenefitPlanAssetsAssumedinConnectionwithAcquisitionTableTextBlock
Namespace Prefix:	bhc_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (a)(b)(c)
-Paragraph 1
-SubTopic 20
-Topic 715
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (d)(5)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-3

+ Details

Name:	us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (f)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration