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SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2015
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
SHAREHOLDERS’ EQUITY
 
Valeant Pharmaceuticals International, Inc. Shareholders
 
 
 
 
 
Common Shares
 
Additional
Paid-In
Capital
 
Accumulated
Deficit
 
Accumulated
Other
Comprehensive
Loss
 
Valeant
Pharmaceuticals
International, Inc.
Shareholders’
Equity
 
Noncontrolling
Interest
 
Total
Equity
 
Shares
 
Amount
 
 
 
 
 
 
Balance, January 1, 2014
333.0

 
$
8,301.2

 
$
228.8

 
$
(3,278.5
)
 
$
(132.8
)
 
$
5,118.7

 
$
114.6

 
$
5,233.3

Common shares issued under share-based compensation plans
0.8

 
24.7

 
(17.5
)
 
—

 
—

 
7.2

 
—

 
7.2

Settlement of stock options
—

 
—

 
(3.1
)
 
—

 
—

 
(3.1
)
 
—

 
(3.1
)
Share-based compensation
—

 
—

 
40.4

 
—

 
—

 
40.4

 
—

 
40.4

Employee withholding taxes related to share-based awards
—

 
—

 
(36.5
)
 
—

 
—

 
(36.5
)
 
—

 
(36.5
)
Tax benefits from stock options exercised
—

 
—

 
1.2

 
—

 
—

 
1.2

 
—

 
1.2

Acquisition of noncontrolling interest
—

 
—

 
(1.1
)
 
—

 
—

 
(1.1
)
 
(2.2
)
 
(3.3
)
 
333.8

 
8,325.9

 
212.2

 
(3,278.5
)
 
(132.8
)
 
5,126.8

 
112.4

 
5,239.2

Comprehensive income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
—

 
—

 
—

 
103.2

 
—

 
103.2

 
(1.5
)
 
101.7

Other comprehensive income (loss)
—

 
—

 
—

 
—

 
28.1

 
28.1

 
(1.7
)
 
26.4

Total comprehensive income
 
 
 
 
 
 
 
 
 
 
131.3

 
(3.2
)
 
128.1

Balance, June 30, 2014
333.8

 
$
8,325.9

 
$
212.2

 
$
(3,175.3
)
 
$
(104.7
)
 
$
5,258.1

 
$
109.2

 
$
5,367.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, January 1, 2015
334.4

 
$
8,349.2

 
$
243.9

 
$
(2,365.0
)
 
$
(915.9
)
 
$
5,312.2

 
$
122.3

 
$
5,434.5

Issuance of common stock (see below)
7.5

 
1,481.0

 
—

 
—

 
—

 
1,481.0

 
—

 
1,481.0

Common shares issued under share-based compensation plans
1.1

 
57.0

 
(34.9
)
 
—

 
—

 
22.1

 
—

 
22.1

Repurchases of common shares
(0.2
)
 
(6.4
)
 
—

 
(43.6
)
 
—

 
(50.0
)
 
—

 
(50.0
)
Share-based compensation
—

 
—

 
60.9

 
—

 
—

 
60.9

 
—

 
60.9

Employee withholding taxes related to share-based awards
—

 
—

 
(61.5
)
 
—

 
—

 
(61.5
)
 
—

 
(61.5
)
Tax benefits from stock options exercised
—

 
—

 
25.6

 
—

 
—

 
25.6

 
—

 
25.6

Noncontrolling interest distributions
—

 
—

 
—

 
—

 
—

 
—

 
(1.1
)
 
(1.1
)
 
342.8

 
9,880.8

 
234.0

 
(2,408.6
)
 
(915.9
)
 
6,790.3

 
121.2

 
6,911.5

Comprehensive loss:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
—

 
—

 
—

 
20.7

 
—

 
20.7

 
2.2

 
22.9

Other comprehensive loss
—

 
—

 
—

 
—

 
(375.6
)
 
(375.6
)
 
(0.4
)
 
(376.0
)
Total comprehensive loss
 
 
 
 
 
 
 
 
 
 
(354.9
)
 
1.8

 
(353.1
)
Balance, June 30, 2015
342.8

 
$
9,880.8

 
$
234.0

 
$
(2,387.9
)
 
$
(1,291.5
)
 
$
6,435.4

 
$
123.0

 
$
6,558.4


On March 27, 2015, the Company completed, pursuant to an Underwriting Agreement dated March 17, 2015 with Deutsche Bank Securities Inc. on behalf of several underwriters, a registered offering in the United States of 7,286,432 of its common shares, no par value, at a price of $199.00 per common share, for aggregate gross proceeds of approximately $1.45 billion. In connection with the issuance of these new common shares, the Company incurred approximately $18 million of issuance costs, which has been reflected as reduction to the gross proceeds from the equity issuance. The proceeds of this offering were used to fund the Salix Acquisition. The Company granted the underwriters an option to purchase additional common shares equal to up to 15% of the common shares initially issued in the offering. This option was not exercised by the underwriters.
On June 10, 2015, the Company issued 213,610 common shares, representing a portion of the consideration transferred in connection with the Dendreon acquisition. The shares had an aggregate value of approximately $50 million as of the date of issuance. See Note 3 for additional information regarding the Dendreon acquisition.
On November 20, 2014, the Company announced that its Board of Directors had approved a new securities repurchase program (the "2014 Securities Repurchase Program"). In June 2015, under the 2014 Securities Repurchase Program, the Company repurchased 224,215 of its common shares for an aggregate price of $50 million. The excess of the purchase price over the carrying value of the common shares repurchased of $44 million was charged to accumulated deficit. These common shares were subsequently canceled.