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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Reportable Segments
The following is a brief description of the Company’s reportable segments:
•The Salix segment consists of sales in the U.S. of GI products. Sales of the Xifaxan® product line currently represent approximately 85% of the Salix segment revenues.
•The International segment consists of sales, with the exception of sales of Bausch + Lomb products and Solta Medical aesthetic medical devices, outside the U.S. and Puerto Rico of branded pharmaceutical products, branded generic pharmaceutical products and OTC products.
•The Solta Medical segment consists of global sales of Solta Medical aesthetic medical devices.
•The Diversified segment consists of sales in the U.S. of: (i) pharmaceutical products in the areas of neurology and certain other therapeutic classes, (ii) dermatology products, (iii) generic pharmaceutical products and (iv) dentistry products.
•The Bausch + Lomb segment consists of global sales of Bausch + Lomb Vision Care, Surgical and Pharmaceuticals products.
Resources are allocated and performance is assessed by the Company’s CEO, whom the Company has determined to be the Company’s Chief Operating Decision Maker (the “CODM”). The Company’s CODM evaluates the performance of its segments and allocates resources to them based on segment profit. Segment profit is based on operating income after the elimination of intercompany transactions. Certain costs, such as Amortization of intangible assets, Asset impairments, Restructuring, integration, separation costs, and Other expense, net, are not included in the measure of segment profit, as management excludes these items in assessing segment financial performance.
The CODM uses segment profit in the annual budgeting and forecasting process. The CODM considers budget-to-actual variances on a monthly basis for segment profit when making decisions about allocating capital and personnel to the segments. The CODM uses segment profit in determining the compensation of certain employees. In assessing segment performance and managing operations, the CODM does not review segment assets.
Corporate includes the finance, treasury, certain research and development programs, tax and legal operations of the Company’s businesses and certain expenses, gains and losses related to the overall management of the Company, which are not allocated to the other business segments. Furthermore, a portion of share-based compensation is considered a corporate cost since the amount of such expense depends on company-wide performance rather than the operating performance of any single segment.
Segment Revenues and Profits
Segment revenues, profits and reconciliation of segment profit to consolidated Income (loss) before income taxes were as follows:
Three Months Ended September 30,
SalixInternationalSolta MedicalDiversifiedBausch + LombTotal
(in millions)202520242025202420252024202520242025202420252024
Revenues$716$642$286$291$140$112$258$269$1,281$1,196$2,681$2,510
Less:
Cost of goods sold (a)
464011811330283237509464
Cost of other revenues——1414————1—
Selling, general and administrative79147575431264140429420
Research and development21197595334129
Segment profit$570$436$90$105$70$53$182$189$301$283$1,213$1,066
Corporate(243)(248)
Amortization of intangible assets(253)(274)
Asset impairments(1)— 
Restructuring, integration and separation costs(17)(1)
Other expense, net(80)(225)
Operating income619 318 
Interest income15 7 
Interest expense(412)(346)
Gain on extinguishment of debt3 — 
Foreign exchange and other(7)— 
Income (loss) before income taxes$218 $(21)
Nine Months Ended September 30,
SalixInternationalSolta MedicalDiversifiedBausch + LombTotal
(in millions)202520242025202420252024202520242025202420252024
Revenues$1,885$1,699$826$832$381$302$682$722$3,696$3,511$7,470$7,066
Less:
Cost of goods sold (a)
1281303373389373951081,5131,369
Cost of other revenues——4535————42
Selling, general and administrative30235117216491771291341,3461,254
Research and development597619172012101110487
Segment profit$1,396$1,142$253$278$177$140$448$469$729$799$3,003$2,828
Corporate(772)(746)
Amortization of intangible assets(765)(818)
Asset impairments(1)(6)
Restructuring, integration and separation costs(49)(25)
Other expense, net(77)(245)
Operating income1,339 988 
Interest income39 24 
Interest expense(1,207)(1,051)
Gain on extinguishment of debt181 23 
Foreign exchange and other(41)(26)
Income (loss) before income taxes$311 $(42)
(a) Cost of goods sold excludes amortization and impairments of intangible assets.
During the nine months ended September 30, 2025 and 2024, ten products represented 50% and 48% of total revenues, respectively.