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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Product sales $ 2,186,000,000 $ 2,443,000,000 $ 6,462,000,000 $ 7,168,000,000
Other revenues 33,000,000 36,000,000 99,000,000 103,000,000
Total revenues 2,219,000,000 2,479,000,000 6,561,000,000 7,271,000,000
Expenses        
Cost of goods sold (excluding amortization and impairments of intangible assets) 650,000,000 649,000,000 1,869,000,000 1,917,000,000
Cost of other revenues 9,000,000 9,000,000 32,000,000 29,000,000
Selling, general and administrative 623,000,000 661,000,000 1,943,000,000 2,145,000,000
Research and development 81,000,000 101,000,000 271,000,000 328,000,000
Amortization of intangible assets 657,000,000 664,000,000 1,915,000,000 2,015,000,000
Goodwill impairments   1,049,000,000 312,000,000 1,049,000,000
Asset impairments 406,000,000 148,000,000 629,000,000 394,000,000
Restructuring and integration costs 6,000,000 20,000,000 42,000,000 78,000,000
Acquired in-process research and development costs 0 31,000,000 5,000,000 34,000,000
Acquisition-related contingent consideration (238,000,000) 9,000,000 (297,000,000) 18,000,000
Other (income) expense, net (325,000,000) 1,000,000 (584,000,000) (20,000,000)
Total expenses 2,181,000,000 3,342,000,000 6,137,000,000 7,987,000,000
Operating income (loss) 38,000,000 (863,000,000) 424,000,000 (716,000,000)
Interest income 3,000,000 3,000,000 9,000,000 6,000,000
Interest expense (459,000,000) (470,000,000) (1,392,000,000) (1,369,000,000)
Loss on extinguishment of debt (1,000,000) 0 (65,000,000) 0
Foreign exchange and other 19,000,000 (2,000,000) 87,000,000 4,000,000
Loss before recovery of income taxes (400,000,000) (1,332,000,000) (937,000,000) (2,075,000,000)
Recovery of income taxes (1,700,000,000) (113,000,000) (2,829,000,000) (179,000,000)
Net income (loss) 1,300,000,000 (1,219,000,000) 1,892,000,000 (1,896,000,000)
Less: Net (loss) income attributable to noncontrolling interest (1,000,000) (1,000,000) 1,000,000 (2,000,000)
Net income (loss) attributable to Valeant Pharmaceuticals International, Inc. $ 1,301,000,000 $ (1,218,000,000) $ 1,891,000,000 $ (1,894,000,000)
Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc.:        
Basic (in usd per share) $ 3.71 $ (3.49) $ 5.40 $ (5.47)
Diluted (in usd per share) $ 3.69 $ (3.49) $ 5.38 $ (5.47)
Weighted-average common shares        
Basic (in shares) 350.4 349.5 350.1 346.5
Diluted (in shares) 352.3 349.5 351.4 346.5