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SUMMARY DATA (UNAUDITED)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
SUMMARY DATA (UNAUDITED)
SUPPLEMENTARY DATA (UNAUDITED)
Selected unaudited quarterly consolidated financial data are shown below:
 
 
2016
(in millions, except per share amounts)
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenue
 
$
2,372

 
$
2,420

 
$
2,479

 
$
2,403

Expenses
 
2,306

 
2,339

 
3,343

 
2,252

Operating income (loss)
 
$
66

 
$
81

 
$
(864
)
 
$
151

Net loss attributable to Valeant Pharmaceuticals International, Inc.
 
$
(374
)
 
$
(302
)
 
$
(1,218
)
 
$
(515
)
 
 
 
 
 
 
 
 
 
Loss per share attributable to Valeant Pharmaceuticals International, Inc.:
 
 
 
 
 
 
 
 
Basic
 
$
(1.08
)
 
$
(0.88
)
 
$
(3.49
)
 
$
(1.47
)
Diluted
 
$
(1.08
)
 
$
(0.88
)
 
$
(3.49
)
 
$
(1.47
)
Net cash provided by operating activities(1)
 
$
556

 
$
449

 
$
569

 
$
513

 
 
2015
(in millions, except per share amounts)
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenue
 
$
2,169

 
$
2,733

 
$
2,787

 
$
2,758

Expenses
 
1,600

 
2,391

 
2,339

 
2,590

Operating income
 
$
569

 
$
342

 
$
448

 
$
168

Net income (loss) attributable to Valeant Pharmaceuticals International, Inc.
 
$
97

 
$
(53
)
 
$
49

 
$
(385
)
 
 
 
 
 
 
 
 
 
Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc.:
 
 
 
 
 
 
 
 
Basic
 
$
0.29

 
$
(0.15
)
 
$
0.14

 
$
(1.12
)
Diluted
 
$
0.28

 
$
(0.15
)
 
$
0.14

 
$
(1.12
)
Net cash provided by operating activities(1)
 
$
509

 
$
418

 
$
733

 
$
598


____________________________________
(1)
As described in Note 2, as a result of the adoption of the new share-based compensation guidance by the Company in the third quarter of 2016, excess tax benefits are classified as operating cash flows instead of financing cash flows. As a result, net cash provided by operating activities for the interim periods in 2015 and the first and second quarters of 2016 have been adjusted to conform to the current period presentation.