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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Reportable Segments
In connection with the planned separation of its Solta business into an independent publicly traded entity from the remainder of Bausch Health Companies Inc., the Company has begun managing its operations in a manner which is consistent with the organizational structure of the two separate entities as proposed by the Solta IPO. As a result, during the first quarter of 2022, the Company’s Chief Executive Officer (“CEO”), who is the Company’s Chief Operating Decision Maker, commenced managing the business differently through changes in its operating and reportable segments, which necessitated a realignment of the Company’s historical segment structure. This realignment is consistent with how the Company’s CEO currently: (i) assesses operating performance on a regular basis, (ii) makes resource allocation decisions and (iii) designates responsibilities of his direct reports. Pursuant to these changes, effective in the first quarter of 2022, the Company operates in the following reportable segments: (i) Bausch + Lomb, (ii) Salix, (iii) International (formerly International Rx), (iv) Solta Medical and (v) Diversified Products. The new segment structure does not impact the Company’s reporting units but realigns the two reporting units of the former Ortho Dermatologics segment whereby its medical dermatology reporting unit (Ortho Dermatologics) is now part of the current Diversified Products segment and the Solta reporting unit is now the sole reporting unit of the new Solta Medical segment. All segment revenues and segment profits for the periods presented have been recast to conform to the 2022 reportable segment structure.
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 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 Solta Medical segment consists of 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, (iii) Ortho Dermatologics (dermatological) products and (iv) 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.
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 
International1,166 1,181 1,154 
Solta Medical308 253 194 
Diversified Products1,121 1,274 1,453 
Total revenues$8,434 $8,027 $8,601 
Segment profit:   
Bausch + Lomb$958 $909 $1,117 
Salix1,493 1,338 1,349 
International403 386 352 
Solta Medical167 131 84 
Diversified Products722 814 933 
Total3,743 3,578 3,835 
Corporate(792)(619)(609)
Amortization of intangible assets(1,375)(1,645)(1,897)
Goodwill impairments(469)— — 
Asset impairments, including loss on assets held for sale(234)(114)(75)
Restructuring, integration, separation and IPO costs(50)(22)(31)
Other expense, net(373)(502)(1,426)
Operating income (loss)450 676 (203)
Interest income7 13 12 
Interest expense(1,426)(1,534)(1,612)
Loss on extinguishment of debt(62)(59)(42)
Foreign exchange and other7 (30)8 
Loss before benefit from income taxes$(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 
International22 29 39 
Solta Medical1 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 + LombSalixInternationalSolta MedicalDiversified ProductsTotal
(in millions)For the year ended December 31, 2021
Pharmaceuticals$514 $2,066 $259 $— $923 $3,762 
Devices1,596 — — 308 — 1,904 
OTC1,388 — 136 — 8 1,532 
Branded and Other Generics 240 — 737 — 167 1,144 
Other revenues27 8 34 — 23 92 
$3,765 $2,074 $1,166 $308 $1,121 $8,434 
Bausch + LombSalixInternationalSolta MedicalDiversified ProductsTotal
For the year ended December 31, 2020
Pharmaceuticals$506 $1,899 $255 $— $1,020 $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 — 28 103 
$3,415 $1,904 $1,181 $253 $1,274 $8,027 
Bausch + LombSalixInternationalSolta MedicalDiversified ProductsTotal
For the year ended December 31, 2019
Pharmaceuticals$623 $2,022 $268 $— $1,165 $4,078 
Devices1,524 — — 194 — 1,718 
OTC1,322 — 119 — 6 1,447 
Branded and Other Generics 260 — 730 — 256 1,246 
Other revenues49 — 37 — 26 112 
$3,778 $2,022 $1,154 $194 $1,453 $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%