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INTANGIBLE ASSETS AND GOODWILL (Tables)
3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of indefinite-lived intangible assets
The major components of intangible assets consist of:
 March 31, 2021December 31, 2020
(in millions)Gross
Carrying
Amount
Accumulated
Amortization
and
Impairments
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
and
Impairments
Net
Carrying
Amount
Finite-lived intangible assets:      
Product brands$20,852 $(15,271)$5,581 $20,890 $(14,914)$5,976 
Corporate brands903 (419)484 907 (404)503 
Product rights/patents3,304 (3,086)218 3,305 (3,055)250 
Partner relationships161 (161)— 169 (168)
Technology and other208 (199)210 (200)10 
Total finite-lived intangible assets25,428 (19,136)6,292 25,481 (18,741)6,740 
Acquired IPR&D not in service— — 
Bausch + Lomb Trademark1,698 — 1,698 1,698 — 1,698 
$27,133 $(19,136)$7,997 $27,186 $(18,741)$8,445 
Schedule of finite-lived intangible assets
The major components of intangible assets consist of:
 March 31, 2021December 31, 2020
(in millions)Gross
Carrying
Amount
Accumulated
Amortization
and
Impairments
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
and
Impairments
Net
Carrying
Amount
Finite-lived intangible assets:      
Product brands$20,852 $(15,271)$5,581 $20,890 $(14,914)$5,976 
Corporate brands903 (419)484 907 (404)503 
Product rights/patents3,304 (3,086)218 3,305 (3,055)250 
Partner relationships161 (161)— 169 (168)
Technology and other208 (199)210 (200)10 
Total finite-lived intangible assets25,428 (19,136)6,292 25,481 (18,741)6,740 
Acquired IPR&D not in service— — 
Bausch + Lomb Trademark1,698 — 1,698 1,698 — 1,698 
$27,133 $(19,136)$7,997 $27,186 $(18,741)$8,445 
Schedule of estimated aggregate amortization expense for each of the five succeeding years
Estimated amortization expense of finite-lived intangible assets for the remainder of 2021 and each of the five succeeding years ending December 31 and thereafter is as follows:
(in millions)Remainder of 202120222023202420252026ThereafterTotal
Amortization$1,025 $1,188 $1,018 $895 $811 $679 $676 $6,292 
Schedule of changes in the carrying amount of goodwill
The changes in the carrying amounts of goodwill during the three months ended March 31, 2021 and the year ended December 31, 2020 were as follows:
(in millions)Bausch + Lomb/ InternationalBausch + LombSalixInternational RxOrtho DermatologicsDiversified ProductsTotal
Balance, January 1, 2020$5,786 $— $3,159 $— $1,267 $2,914 $13,126 
Assets held for sale reclassified to goodwill18 — — — — — 18 
Goodwill reclassified to assets held for sale (Note 4)(217)— — — — — (217)
Foreign exchange and other117 — — — — — 117 
Balance, December 31, 20205,704 — 3,159 — 1,267 2,914 13,044 
Realignment of segment goodwill(5,704)5,395 — 887 — (578)— 
Impairment— — — — (469)— (469)
Foreign exchange and other— (47)— (43)— — (90)
Balance, March 31, 2021$— $5,348 $3,159 $844 $798 $2,336 $12,485