XML 15 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Product sales $ 2,200 $ 2,389 $ 4,276 $ 4,725
Other revenues 33 31 66 67
Total revenues 2,233 2,420 4,342 4,792
Expenses        
Cost of goods sold (excluding amortization and impairments of intangible assets) 635 648 1,219 1,268
Cost of other revenues 11 10 23 20
Selling, general and administrative 659 671 1,320 1,484
Research and development 94 124 190 227
Amortization of intangible assets 623 673 1,258 1,351
Asset impairments 85 230 223 246
Restructuring and integration costs 18 20 36 58
Acquired in-process research and development costs 1 2 5 3
Acquisition-related contingent consideration (49) 7 (59) 9
Other income, net (19) (46) (259) (21)
Total expenses 2,058 2,339 3,956 4,645
Operating income 175 81 386 147
Interest income 3 2 6 3
Interest expense (459) (472) (933) (899)
Loss on extinguishment of debt 0 0 (64) 0
Foreign exchange and other 39 12 68 6
Loss before recovery of income taxes (242) (377) (537) (743)
Recovery of income taxes (205) (73) (1,129) (66)
Net (loss) income (37) (304) 592 (677)
Less: Net income (loss) attributable to noncontrolling interest 1 (2) 2 (1)
Net (loss) income attributable to Valeant Pharmaceuticals International, Inc. $ (38) $ (302) $ 590 $ (676)
(Loss) earnings per share attributable to Valeant Pharmaceuticals International, Inc.:        
Basic (in usd per share) $ (0.11) $ (0.88) $ 1.69 $ (1.96)
Diluted (in usd per share) $ (0.11) $ (0.88) $ 1.68 $ (1.96)
Weighted-average common shares        
Basic (in shares) 350.1 345.0 350.0 344.9
Diluted (in shares) 350.1 345.0 350.9 344.9