LICENSING AGREEMENTS AND ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of aggregate acquisition consideration

The estimated aggregate acquisition consideration of approximately $1,753 million is calculated as follows:

(in millions)
Cash consideration paid to Novartis at closing, per the Acquisition Agreement	$	1,750
Estimated fair value of contingent consideration	3
Preliminary aggregate purchase consideration	$	1,753

Schedule of fair values of assets acquired and liabilities assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed related to the XIIDRA Acquisition as of the acquisition date:

(in millions)
Intangible assets, net	$	1,595
Prepaid expenses and other current assets	167
Accrued and other current liabilities	(1)
Other non-current liabilities	(31)
Total identifiable net assets	1,730
Goodwill	23
Total fair value of consideration transferred	$	1,753

Schedule of intangible assets acquired, business combination

The intangible assets acquired, as well as their fair values and estimated useful life consist of the following:

(in millions)	Fair Value		Estimated Useful Life (In Years)
Product brands	$	1,590	8.75
Acquired in-process research and development intangible asset	5		N/A
Total Intangible assets, net	$	1,595

Schedule of pro forma information

The following table presents the unaudited pro forma condensed combined results of the Company and the acquired assets for the three and nine months ended September 30, 2023 and 2022 as if the XIIDRA Acquisition, and the related financing had occurred on January 1, 2022:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2023		2022		2023		2022
Revenues	$	2,302	$	2,155	$	6,598	$	6,273
Net (loss) income	$	(466)	$	355	$	(783)	$	(42)
Net (loss) income attributable to Bausch Health Companies Inc.	$	(448)	$	332	$	(732)	$	(49)

Schedule of intangible assets acquired, asset acquisition

The intangible assets acquired, their fair values and estimated useful lives consist of the following:

(in millions)	Fair Value		Estimated Useful Life (In Years)
Corporate brands	$	72	12
Product brands	12		10
Technology and other	6		9
Total Intangible assets, net	$	90