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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Reportable Segments
The Company’s Chief Executive Officer ("CEO"), who is the Company’s Chief Operating Decision Maker, manages the business through operating and reportable segments consistent with how the Company's CEO: (i) assesses operating performance on a regular basis, (ii) makes resource allocation decisions and (iii) designates responsibilities of his direct reports. The Company operates in the following reportable segments: (i) Bausch + Lomb, (ii) Salix, (iii) International Rx, (iv) Ortho Dermatologics and (v) Diversified Products.
The following is a brief description of the Company’s segments:
•The Bausch + Lomb segment consists of global sales of Bausch + Lomb Vision Care, Consumer, Surgical and Ophthalmic Pharmaceuticals products.
•The Salix segment consists of sales in the U.S. of GI products.
•The International Rx segment consists of sales, with the exception of sales of Bausch +Lomb products and Solta aesthetic medical devices, outside the U.S and Puerto Rico of branded pharmaceutical products, branded generic pharmaceutical and OTC products.
•The Ortho Dermatologics segment consists of: (i) sales in the U.S. of Ortho Dermatologics (dermatological) products and (ii) global sales of Solta aesthetic medical devices.
•The Diversified Products segment consists of sales in the U.S. of: (i) pharmaceutical products in the areas of neurology and certain other therapeutic classes, (ii) generic products and (iii) dentistry products.
Segment profit is based on operating income after the elimination of intercompany transactions. Certain costs, such as Amortization of intangible assets, Asset impairments, including loss on assets held for sale, Restructuring, integration, separation and IPO costs, and Other expense, net, are not included in the measure of segment profit, as management excludes these items in assessing segment financial performance.
Corporate includes the finance, treasury, certain research and development programs, tax and legal operations of the Company’s businesses and incurs certain expenses, gains and losses related to the overall management of the Company, which are not allocated to the other business segments. In assessing segment performance and managing operations, management does not review segment assets. Furthermore, a portion of share-based compensation is considered a corporate cost, since the amount of such expense depends on company-wide performance rather than the operating performance of any single segment.
In connection with the planned separation of its Solta business into an independent publicly traded entity from the remainder of Bausch Health Companies Inc., on February 23, 2022, the Company announced its plan to change its segment structure in a manner which is consistent with the organizational structure of the two separate entities as proposed by the Solta IPO during the first quarter of 2022. The new segment structure will not impact the Company’s reporting units but will realign the two reporting units of the Ortho Dermatologics segment whereby its medical dermatology reporting unit (Ortho Dermatologics) will now be managed by the CODM as part of the Diversified Products segment and the Solta reporting unit will be managed by the CODM as its own operating and reportable segment. Accordingly, the Company expects to begin reporting under the following reporting segments on a retrospective basis beginning with its first quarter of 2022 as follows: Bausch + Lomb, Salix, International Rx, Solta and Diversified Products.
Segment Revenues and Profit
Segment revenues and profits for the years 2021, 2020 and 2019 were as follows:
(in millions)202120202019
Revenues:  
Bausch + Lomb$3,765 $3,415 $3,778 
Salix2,074 1,904 2,022 
International Rx1,166 1,181 1,154 
Ortho Dermatologics564 548 560 
Diversified Products865 979 1,087 
Total revenues$8,434 $8,027 $8,601 
Segment profit:   
Bausch + Lomb$958 $909 $1,117 
Salix1,493 1,338 1,349 
International Rx403 386 352 
Ortho Dermatologics265 228 216 
Diversified Products624 717 801 
Total3,743 3,578 3,835 
Corporate(792)(619)(609)
Amortization of intangible assets(1,375)(1,645)(1,897)
Goodwill impairments(469)— — 
Asset impairments, including loss on assets held for sale(234)(114)(75)
Restructuring, integration, separation and IPO costs(50)(22)(31)
Other expense, net(373)(502)(1,426)
Operating income (loss)450 676 (203)
Interest income7 13 12 
Interest expense(1,426)(1,534)(1,612)
Loss on extinguishment of debt(62)(59)(42)
Foreign exchange and other7 (30)8 
Loss before benefit from income taxes$(1,024)$(934)$(1,837)
Certain reclassifications have been made to segment revenue and profit in order for the prior years to conform to current year presentation. These reclassifications are not material.
Capital Expenditures
Capital expenditures by segment for the years 2021, 2020 and 2019 were as follows:
(in millions)202120202019
Capital expenditures:   
Bausch + Lomb$201 $253 $186 
Salix2 3 2 
International Rx22 29 39 
Ortho Dermatologics1 2 1 
Diversified Products1 2 2 
227 289 230 
Corporate42 13 40 
Total capital expenditures$269 $302 $270 
Revenues by Product and by Product Category
Revenues for the Company's top ten products for the years 2021, 2020 and 2019 represented 43%, 41% and 39% of total product sales, respectively. Revenues by segment and product category were as follows:
Bausch + LombSalixInternational RxOrtho DermatologicsDiversified ProductsTotal
(in millions)For the year ended December 31, 2021
Pharmaceuticals$514 $2,066 $259 $241 $683 $3,763 
Devices1,596 — — 307 — 1,903 
OTC1,388 — 136 — 8 1,532 
Branded and Other Generics 240 — 737 — 167 1,144 
Other revenues27 8 34 16 7 92 
$3,765 $2,074 $1,166 $564 $865 $8,434 
Bausch + LombSalixInternational RxOrtho DermatologicsDiversified ProductsTotal
For the year ended December 31, 2020
Pharmaceuticals$506 $1,899 $255 $275 $745 $3,680 
Devices1,313 — — 253 — 1,566 
OTC1,311 — 112 — 7 1,430 
Branded and Other Generics 254 — 775 — 219 1,248 
Other revenues31 5 39 20 8 103 
$3,415 $1,904 $1,181 $548 $979 $8,027 
Bausch + LombSalixInternational RxOrtho DermatologicsDiversified ProductsTotal
For the year ended December 31, 2019
Pharmaceuticals$623 $2,022 $268 $353 $813 $4,079 
Devices1,524 — — 193 — 1,717 
OTC1,322 — 119 — 6 1,447 
Branded and Other Generics 260 — 730 — 256 1,246 
Other revenues49 — 37 14 12 112 
$3,778 $2,022 $1,154 $560 $1,087 $8,601 
Geographic Information
Revenues are attributed to a geographic region based on the location of the customer for the years 2021, 2020 and 2019 were as follows:
(in millions)202120202019
U.S. and Puerto Rico$4,887 $4,791 $5,164 
China490 341 368 
Canada343 331 339 
Poland280 238 231 
Mexico256 225 228 
Japan230 226 241 
France208 179 201 
Russia160 137 180 
Egypt156 243 218 
Germany154 144 150 
United Kingdom116 86 115 
Spain88 78 86 
Italy80 71 85 
Other986 937 995 
$8,434 $8,027 $8,601 
Certain reclassifications have been made and are reflected in the table above.
Long-lived assets consisting of property, plant and equipment, net of accumulated depreciation, are attributed to geographic regions based on their physical location as of December 31, 2021 and 2020 were as follows:
(in millions)20212020
U.S. and Puerto Rico$743 $725 
Ireland336 328 
Canada123 110 
Poland75 83 
Germany87 80 
Mexico45 49 
France39 34 
China30 31 
Serbia25 30 
Italy 21 23 
Other 74 74 
$1,598 $1,567 
Major Customers
Customers that accounted for 10% or more of total revenues were as follows:
202120202019
AmerisourceBergen Corporation18%17%16%
McKesson Corporation16%17%17%
Cardinal Health, Inc.12%13%14%