Bausch Health Companies (BHC) 10-K 28 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Feb. 22, 2018	Jun. 30, 2017
Document and Entity Information
Entity Registrant Name	Valeant Pharmaceuticals International, Inc.
Entity Central Index Key	885,590
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		348,837,730
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 5,331,597,000

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 720	$ 542
Restricted cash	77	0
Trade receivables, net	2,130	2,517
Inventories, net	1,048	1,061
Current assets held for sale	0	261
Prepaid expenses and other current assets	771	696
Total current assets	4,746	5,077
Property, plant and equipment, net	1,403	1,312
Intangible assets, net	15,211	18,884
Goodwill	15,593	15,794
Deferred tax assets, net	433	146
Non-current assets held for sale	12	2,132
Other non-current assets	99	184
Total assets	37,497	43,529
Current liabilities:
Accounts payable	365	324
Accrued and other current liabilities	3,694	3,227
Current liabilities held for sale	0	57
Current portion of long-term debt and other	209	1
Total current liabilities	4,268	3,609
Acquisition-related contingent consideration	344	840
Non-current portion of long-term debt	25,235	29,845
Deferred tax liabilities, net	1,180	5,434
Non-current liabilities held for sale	0	57
Other non-current liabilities	526	486
Total liabilities	31,553	40,271
Commitments and contingencies (Notes 21 and 22)
Equity
Common shares, no par value, unlimited shares authorized, 348,708,567 and 347,821,606 issued and outstanding at December 31, 2017 and 2016, respectively	10,090	10,038
Additional paid-in capital	380	351
Accumulated deficit	(2,725)	(5,129)
Accumulated other comprehensive loss	(1,896)	(2,108)
Total Valeant Pharmaceuticals International, Inc. shareholders’ equity	5,849	3,152
Noncontrolling interest	95	106
Total equity	5,944	3,258
Total liabilities and equity	$ 37,497	$ 43,529

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, no par value (in usd per share)	$ 0	$ 0
Common stock, shares issued (in shares)	348,708,567	347,821,606
Common stock, shares outstanding (in shares)	348,708,567	347,821,606

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues
Product sales	$ 8,595,000,000	$ 9,536,000,000	$ 10,292,000,000
Other revenues	129,000,000	138,000,000	155,000,000
Total revenues	8,724,000,000	9,674,000,000	10,447,000,000
Expenses
Cost of goods sold (exclusive of amortization and impairments of intangible assets)	2,506,000,000	2,572,000,000	2,532,000,000
Cost of other revenues	42,000,000	39,000,000	53,000,000
Selling, general and administrative	2,582,000,000	2,810,000,000	2,700,000,000
Research and development	361,000,000	421,000,000	334,000,000
Amortization of intangible assets	2,690,000,000	2,673,000,000	2,257,000,000
Goodwill impairments	312,000,000	1,077,000,000	0
Asset impairments	714,000,000	422,000,000	304,000,000
Restructuring and integration costs	52,000,000	132,000,000	362,000,000
Acquired in-process research and development costs	5,000,000	34,000,000	106,000,000
Acquisition-related contingent consideration	(289,000,000)	(13,000,000)	(23,000,000)
Other (income) expense, net	(353,000,000)	73,000,000	295,000,000
Total expenses	8,622,000,000	10,240,000,000	8,920,000,000
Operating income (loss)	102,000,000	(566,000,000)	1,527,000,000
Interest income	12,000,000	8,000,000	4,000,000
Interest expense	(1,840,000,000)	(1,836,000,000)	(1,563,000,000)
Loss on extinguishment of debt	(122,000,000)	0	(20,000,000)
Foreign exchange and other	107,000,000	(41,000,000)	(103,000,000)
Loss before (benefit from) provision for income taxes	(1,741,000,000)	(2,435,000,000)	(155,000,000)
(Benefit from) provision for income taxes	(4,145,000,000)	(27,000,000)	133,000,000
Net income (loss)	2,404,000,000	(2,408,000,000)	(288,000,000)
Less: Net income attributable to noncontrolling interest	0	1,000,000	4,000,000
Net income (loss) attributable to Valeant Pharmaceuticals International, Inc.	$ 2,404,000,000	$ (2,409,000,000)	$ (292,000,000)
Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc.
Basic (in dollars per share)	$ 6.86	$ (6.94)	$ (0.85)
Diluted (in dollars per share)	$ 6.83	$ (6.94)	$ (0.85)
Weighted-average common shares
Basic (in shares)	350.2	347.3	342.7
Diluted (in shares)	351.8	347.3	342.7

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,404	$ (2,408)	$ (288)
Other comprehensive income (loss)
Foreign currency translation adjustment	202	(548)	(647)
Net unrealized holding loss on sale of assets and businesses:
Arising in period	(26)	0	0
Reclassification to net income (loss)	26	0	0
Net unrealized holding loss on sale of assets and businesses:	202	(548)	(647)
Pension and postretirement benefit plan adjustments:
Newly established prior service credit	0	6	0
Net actuarial gain (loss) arising during the year	20	(32)	21
Amortization of prior service credit	(4)	(3)	(3)
Amortization or settlement recognition of net gain	2	1	3
Income tax (expense) benefit	(4)	4	(3)
Currency impact	1	1	(1)
Net pension and postretirement benefit plan adjustments	15	(23)	17
Other comprehensive income (loss)	217	(571)	(630)
Comprehensive income (loss)	2,621	(2,979)	(918)
Less: Comprehensive income (loss) attributable to noncontrolling interest	4	(4)	0
Comprehensive income (loss) attributable to Valeant Pharmaceuticals International, Inc.	$ 2,617	$ (2,975)	$ (918)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Shares	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Valeant Pharmaceuticals International, Inc. Shareholders' Equity	Noncontrolling Interest
Beginning Balance (in shares) at Dec. 31, 2014		334,400,000
Beginning Balance at Dec. 31, 2014	$ 5,401	$ 8,349	$ 244	$ (2,398)	$ (916)	$ 5,279	$ 122
Increase (Decrease) in Shareholders' Equity
Issuance of common shares (in shares)		7,500,000
Issuance of common shares	1,482	$ 1,482				1,482
Common shares issued under share-based compensation plans (in shares)		1,400,000
Common shares issued under share-based compensation plans	30	$ 78	(48)			30
Repurchases of common shares (Note 14) (in shares)		(400,000)
Repurchases of common shares (Note 13)	(72)	$ (12)		(60)		(72)
Share-based compensation	140		140			140
Employee withholding taxes related to share-based awards	(88)		(88)			(88)
Excess tax benefits from share-based compensation	57		57			57
Noncontrolling interest from business combinations	5						5
Noncontrolling interest distributions	(8)						(8)
Net income (loss)	(288)			(292)		(292)	4
Other comprehensive income (loss)	(630)				(626)	(626)	(4)
Ending Balance (in shares) at Dec. 31, 2015		342,900,000
Ending Balance at Dec. 31, 2015	6,029	$ 9,897	305	(2,750)	(1,542)	5,910	119
Increase (Decrease) in Shareholders' Equity
Effect of retrospective application of a new accounting standard (see Note 2)	30			30		30
Common shares issued under share-based compensation plans (in shares)		4,900,000
Common shares issued under share-based compensation plans	33	$ 141	(108)			33
Share-based compensation	165		165			165
Employee withholding taxes related to share-based awards	(11)		(11)			(11)
Noncontrolling interest distributions	(9)						(9)
Net income (loss)	(2,408)			(2,409)		(2,409)	1
Other comprehensive income (loss)	$ (571)				(566)	(566)	(5)
Ending Balance (in shares) at Dec. 31, 2016	347,821,606	347,800,000
Ending Balance at Dec. 31, 2016	$ 3,258	$ 10,038	351	(5,129)	(2,108)	3,152	106
Increase (Decrease) in Shareholders' Equity
Common shares issued under share-based compensation plans (in shares)		900,000
Common shares issued under share-based compensation plans	0	$ 52	(52)			0
Share-based compensation	87		87			87
Employee withholding taxes related to share-based awards	(4)		(4)			(4)
Acquisition of noncontrolling interest	(9)		(2)		(1)	(3)	(6)
Noncontrolling interest distributions	(9)						(9)
Net income (loss)	2,404			2,404		2,404	0
Other comprehensive income (loss)	$ 217				213	213	4
Ending Balance (in shares) at Dec. 31, 2017	348,708,567	348,700,000
Ending Balance at Dec. 31, 2017	$ 5,944	$ 10,090	$ 380	$ (2,725)	$ (1,896)	$ 5,849	$ 95

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flows From Operating Activities
Net income (loss)	$ 2,404,000,000	$ (2,408,000,000)	$ (288,000,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of intangible assets	2,858,000,000	2,866,000,000	2,467,000,000
Amortization and write-off of debt discounts and debt issuance costs	151,000,000	118,000,000	145,000,000
Asset impairments	714,000,000	422,000,000	304,000,000
Acquisition accounting adjustment on inventory sold	0	38,000,000	134,000,000
Acquisition-related contingent consideration	(289,000,000)	(13,000,000)	(23,000,000)
Allowances for losses on trade receivables and inventories	119,000,000	174,000,000	115,000,000
Deferred income taxes	(4,386,000,000)	(236,000,000)	(160,000,000)
(Gain) loss on disposal of assets and businesses	(579,000,000)	(8,000,000)	5,000,000
Additions to accrued legal settlements	226,000,000	59,000,000	37,000,000
Insurance proceeds for legal settlement	60,000,000	0	0
Payments of accrued legal settlements	(221,000,000)	(69,000,000)	(33,000,000)
Goodwill impairment	312,000,000	1,077,000,000	0
Share-based compensation	87,000,000	165,000,000	140,000,000
Foreign exchange (gain) loss	(106,000,000)	14,000,000	95,000,000
Loss on extinguishment of debt	122,000,000	0	20,000,000
Other	(26,000,000)	(2,000,000)	(33,000,000)
Changes in operating assets and liabilities:
Trade receivables	417,000,000	(34,000,000)	(626,000,000)
Inventories	7,000,000	(164,000,000)	(276,000,000)
Prepaid expenses and other current assets	33,000,000	232,000,000	(91,000,000)
Accounts payable, accrued and other liabilities	387,000,000	(144,000,000)	325,000,000
Net cash provided by operating activities	2,290,000,000	2,087,000,000	2,257,000,000
Cash Flows From Investing Activities
Acquisition of businesses, net of cash acquired	0	(19,000,000)	(15,458,000,000)
Acquisition of intangible assets and other assets	(165,000,000)	(56,000,000)	(68,000,000)
Purchases of property, plant and equipment	(171,000,000)	(235,000,000)	(235,000,000)
Purchases of marketable securities	(7,000,000)	(1,000,000)	(49,000,000)
Proceeds from sale of marketable securities	2,000,000	17,000,000	67,000,000
Proceeds from sale of assets and businesses, net of costs to sell	3,253,000,000	199,000,000	13,000,000
Reduction of cash due to deconsolidation	0	(30,000,000)	0
Net settlement of assumed derivative contracts	0	0	184,000,000
Other	(25,000,000)	0	(31,000,000)
Net cash provided by (used in) investing activities	2,887,000,000	(125,000,000)	(15,577,000,000)
Cash Flows From Financing Activities
Issuance of long-term debt, net of discount	9,424,000,000	1,220,000,000	17,817,000,000
Repayments of long-term debt	(14,203,000,000)	(2,436,000,000)	(2,055,000,000)
Borrowings of short-term debt	1,000,000	3,000,000	8,000,000
Repayments of short-term debt	(8,000,000)	(3,000,000)	(8,000,000)
Repayments of convertible notes assumed	0	0	(3,123,000,000)
Issuance of common stock, net	0	0	1,433,000,000
Repurchases of common shares	0	0	(72,000,000)
Proceeds from exercise of stock options	0	33,000,000	30,000,000
Payment of employee withholding tax upon vesting of share-based awards	(4,000,000)	(11,000,000)	(88,000,000)
Payments of contingent consideration	(45,000,000)	(123,000,000)	(151,000,000)
Payments of deferred consideration	0	(540,000,000)	(55,000,000)
Payments of financing costs	(110,000,000)	(97,000,000)	(103,000,000)
Other	(18,000,000)	(9,000,000)	(9,000,000)
Net cash (used in) provided by financing activities	(4,963,000,000)	(1,963,000,000)	13,624,000,000
Effect of exchange rate changes on cash and cash equivalents	41,000,000	(54,000,000)	(30,000,000)
Net increase (decrease) in cash and cash equivalents and restricted cash	255,000,000	(55,000,000)	274,000,000
Cash and cash equivalents and restricted cash, beginning of period	542,000,000	597,000,000	323,000,000
Cash and cash equivalents and restricted cash, end of period	797,000,000	542,000,000	597,000,000
Cash and cash equivalents, end of period	720,000,000	542,000,000	597,000,000
Restricted cash, end of period	77,000,000	0	0
Cash and cash equivalents and restricted cash, end of period	$ 542,000,000	$ 597,000,000	$ 323,000,000

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS Valeant Pharmaceuticals International, Inc. (the “Company”) is a multinational, specialty pharmaceutical and medical device company that develops, manufactures, and markets a broad range of branded, generic and branded generic pharmaceuticals, over-the-counter (“OTC”) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices) which are marketed directly or indirectly in over 90 countries. Effective August 9, 2013, the Company continued from the federal jurisdiction of Canada to the Province of British Columbia, meaning that the Company became a company registered under the laws of the Province of British Columbia as if it had been incorporated under the laws of the Province of British Columbia. As a result of this continuance, the legal domicile of the Company became the Province of British Columbia, the Canada Business Corporations Act ceased to apply to the Company and the Company became subject to the British Columbia Business Corporations Act.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates The consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), applied on a consistent basis. In preparing the Company’s consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by management include: provisions for product returns, rebates, chargebacks, discounts and allowances, and distribution fees paid to certain wholesalers; useful lives of amortizable intangible assets and property, plant and equipment; expected future cash flows used in evaluating intangible assets for impairment, assessing compliance with debt covenants and making going concern assessments; reporting unit fair values for testing goodwill for impairment and allocating goodwill to new reporting unit structure on a relative fair value basis; provisions for loss contingencies; provisions for income taxes, uncertain tax positions and realizability of deferred tax assets (including provisional amounts associated with the U.S. tax law change); and the allocation of the purchase price for acquired assets and businesses, including the fair value of contingent consideration. Under certain product manufacturing and supply agreements, management uses information from the Company’s commercialization counterparties to arrive at estimates for future returns, rebates and chargebacks. On an ongoing basis, management reviews its estimates to ensure that these estimates appropriately reflect changes in the Company’s business and new information as it becomes available. If historical experience and other factors used by management to make these estimates do not reasonably reflect future activity, the Company’s consolidated financial statements could be materially impacted. Principles of Consolidation The consolidated financial statements include the accounts of the Company and those of its subsidiaries and any variable interest entities (“VIEs”) for which the Company is the primary beneficiary. All intercompany transactions and balances have been eliminated. Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation. Effective for the first quarter of 2017, revenues and profits from the Company's operations in Canada, previously included in the Branded Rx segment in prior periods, are now included in the Bausch + Lomb/International segment. Prior period presentations of segment revenues, segment profits and segment assets have been recast to conform to the current segment reporting structure. See Note 23, "SEGMENT INFORMATION" for additional information. Acquisitions Acquired businesses are accounted for using the acquisition method of accounting, which requires that assets acquired and liabilities assumed be recorded at fair value, with limited exceptions. Any excess of the purchase price over the fair value of the net assets acquired is recorded as goodwill. Transaction costs and costs to restructure the acquired company are expensed as incurred. The operating results of the acquired business are reflected in the consolidated financial statements after the date of acquisition. Acquired in-process research and development (“IPR&D”) is recognized at fair value and initially characterized as an indefinite-lived intangible asset, irrespective of whether the acquired IPR&D has an alternative future use. If the acquired net assets do not constitute a business under the acquisition method of accounting, the transaction is accounted for as an asset acquisition and no goodwill is recognized. In an asset acquisition, the amount allocated to acquired IPR&D with no alternative future use is charged to expense at the acquisition date. Fair Value of Financial Instruments The estimated fair values of cash and cash equivalents, trade receivables, accounts payable and accrued liabilities approximate their carrying values due to their short maturity periods. The fair value of acquisition-related contingent consideration is based on estimated discounted future cash flows or Monte Carlo Simulation analyses and assessment of the probability of occurrence of potential future events. The fair values of marketable securities and long-term debt are based on quoted market prices, if available, or estimated discounted future cash flows. Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with maturities of three months or less when purchased. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities and trade receivables. The Company invests its excess cash in high-quality, money market instruments and term deposits with varying maturities, but typically less than three months. The Company’s cash and cash equivalents are invested in various investment grade institutional money market accounts and bank term deposits. Deposits held at banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading its risk across multiple counterparties and monitoring the risk profiles of these counterparties. The Company’s trade receivables primarily represent amounts due from wholesale distributors, retail pharmacies, government entities and group purchasing organizations. Outside of the U.S., concentrations of credit risk with respect to trade receivables, which are typically unsecured, are limited due to the number of customers using the Company’s products, as well as their dispersion across many different geographic regions. The Company performs periodic credit evaluations of customers and does not require collateral. The Company monitors economic conditions, including volatility associated with international economies, and related impacts on the relevant financial markets and its business, especially in light of sovereign credit issues. The credit and economic conditions within Italy, Portugal, Spain, Greece, among other members of the European Union, Russia, Brazil, and Egypt have been weak in recent years. In November 2016, as a result of the Egyptian government’s decision to float the Egyptian pound and un-peg it to the U.S. Dollar, the Egyptian pound was significantly devalued. The Company's exposure to the Egyptian pound is with respect to the Amoun Pharmaceutical Company S.A.E. business acquired in October 2015, which represented approximately 2% of the Company's 2017 and 2016 total revenues. These conditions have increased, and may continue to increase, the average length of time that it takes to collect on the Company’s trade receivables outstanding in these countries. An allowance for doubtful accounts is maintained for potential credit losses based on the aging of trade receivables, historical bad debts experience, and changes in customer payment patterns. Trade receivable balances are written off against the allowance when it is deemed probable that the receivable will not be collected. Trade receivables, net are stated net of reserves for sales returns and allowances and provisions for doubtful accounts of $97 million and $80 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , the Company’s three largest U.S. wholesaler customers accounted for approximately 43% of net trade receivables. In addition, as of December 31, 2017 and 2016 , the Company’s net trade receivable balance from Russia, Egypt, Italy, Brazil, Spain, Greece and Portugal amounted to $230 million and $214 million , respectively, the majority of which is current or less than 90 days past due. The portion of the net trade receivable from these countries that is past due more than 90 days amounted to $14 million , as of December 31, 2017 , a portion of which is comprised of public hospitals. Based on analysis of bad debt experience and assessment of historical payment patterns for such customers, the Company has established a reserve covering approximately half of the balance past due more than 90 days for such countries. The Company has not experienced any significant losses from uncollectible accounts in the three-year period ended December 31, 2017 . Inventories Inventories comprise raw materials, work in process, and finished goods, which are valued at the lower of cost or net realizable value, on a first-in, first-out basis. The cost value for work in process and finished goods inventories includes materials, direct labor, and an allocation of overheads. The Company evaluates the carrying value of inventories on a regular basis, taking into account such factors as historical and anticipated future sales compared with quantities on hand, the price the Company expects to obtain for products in their respective markets compared with historical cost and the remaining shelf life of goods on hand. Property, Plant and Equipment Property, plant and equipment are reported at cost, less accumulated depreciation. Costs incurred on assets under construction are capitalized as construction in progress. Depreciation is calculated using the straight-line method, commencing when the assets become available for productive use, based on the following estimated useful lives: Land improvements 15 - 30 years Buildings Up to 40 years Machinery and equipment 3 - 20 years Other equipment 3 - 7 years Equipment on operating lease Up to 5 years Leasehold improvements and capital leases Lesser of term of lease or 10 years Intangible Assets Intangible assets are reported at cost, less accumulated amortization. Intangible assets with finite lives are amortized over their estimated useful lives. Amortization is calculated primarily using the straight-line method based on the following estimated useful lives: Product brands 2 - 20 years Corporate brands 6 - 20 years Product rights 3 - 15 years Partner relationships 5 - 9 years Out-licensed technology and other 5 - 10 years Divestitures of Products The Company nets the proceeds on the divestitures of products with the carrying amount of the related assets and records a gain/loss on sale within Other (income) expense, net . Any contingent payments that are potentially due to the Company as a result of these divestitures are recorded when realizable. IPR&D The fair value of IPR&D acquired through a business combination is capitalized as an indefinite-lived intangible asset until the completion or abandonment of the related research and development activities. When the related research and development is completed, the asset will be assigned a useful life and amortized. The fair value of an IPR&D intangible asset is typically determined using an income approach. This approach starts with a forecast of the net cash flows expected to be generated by the asset over its estimated useful life. The net cash flows reflect the asset’s stage of completion, the probability of technical success, the projected costs to complete, expected market competition and an assessment of the asset’s life-cycle. The net cash flows are then adjusted to present value by applying an appropriate discount rate that reflects the risk factors associated with the expected cash flow streams. Impairment of Long-Lived Assets Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If indicators of impairment are present, the asset is tested for recoverability by comparing the carrying value of the asset to the related estimated undiscounted future cash flows expected to be derived from the asset. If the expected cash flows are less than the carrying value of the asset, then the asset is considered to be impaired and its carrying value is written down to fair value, based on the related estimated discounted future cash flows. Indefinite-lived intangible assets, including acquired IPR&D and the corporate trademark acquired in the acquisition of Bausch & Lomb Holdings Incorporated (the ‘‘B&L Trademark’’), are tested for impairment annually or more frequently if events or changes in circumstances between annual tests indicate that the asset may be impaired. Impairment losses on indefinite-lived intangible assets are recognized based solely on a comparison of the fair value of the asset to its carrying value. Goodwill Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the values assigned to the assets acquired and liabilities assumed. Goodwill is not amortized but is tested for impairment at least annually as of October 1st at the reporting unit level. A reporting unit is the same as, or one level below, an operating segment. An interim goodwill impairment test in advance of the annual impairment assessment may be required if events occur that indicate an impairment might be present. For example, a substantial decline in the Company’s market capitalization, changes in reportable segments, unexpected adverse business conditions, economic factors and unanticipated competitive activities may signal that an interim impairment test is needed. Accordingly, among other factors, the Company monitors changes in its share price between annual impairment tests. The Company considers a decline in its share price that corresponds to an overall deterioration in stock market conditions to be less of an indicator of goodwill impairment than a unilateral decline in its share price reflecting adverse changes in its underlying operating performance, cash flows, financial condition, and/or liquidity. In the event that the Company’s market capitalization does decline below its book value, the Company would consider the length and severity of the decline and the reason for the decline when assessing whether potential goodwill impairment exists. The Company believes that short-term fluctuations in share prices may not necessarily reflect underlying values. The goodwill impairment test consists of two steps. In step one, the Company compares the carrying value of each reporting unit to its fair value. In step two, if the carrying value of a reporting unit exceeds its fair value, the Company will determine the amount of goodwill impairment as the excess of the carryi ng value of the reporting unit’s goodwill over its fair value, if any. The fair value of goodwill is derived as the excess of the fair value of the reporting unit over the fair value of the reporting unit’s identifiable assets and liabilities. Deferred Financing Costs Deferred financing costs are presented in the balance sheet as a direct deduction from the carrying amount of the related debt except for the deferred financing costs associated with revolving-debt arrangements which are presented as assets. Deferred finance costs are amortized using the effective interest method as interest expense over the contractual lives of the related credit facilities. Foreign Currency Translation The assets and liabilities of the Company’s foreign operations having a functional currency other than the U.S. dollar are translated into U.S. dollars at the exchange rate prevailing at the balance sheet date, and at the average exchange rate for the reporting period for revenue and expense accounts. The cumulative foreign currency translation adjustment is recorded as a component of accumulated other comprehensive loss in shareholders’ equity. Foreign currency exchange gains and losses on transactions occurring in a currency other than an operation’s functional currency are recognized in net income (loss). Revenue Recognition Revenue is realized or realizable and earned when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the customer is fixed or determinable, and collectability is reasonably assured. The Company recognizes product sales revenue when persuasive evidence of an arrangement exists, delivery has occurred, collectability is reasonably assured, and the price to the buyer is fixed or determinable, the timing of which is based on the specific contractual terms with each customer. Delivery occurs when title has transferred to the customer, and the customer has assumed the risks and rewards of ownership. As such, the Company generally recognizes revenue on a sell-in basis (i.e., record revenue upon delivery); however, based upon specific terms and circumstances, the Company has determined that, for certain arrangements with certain retailers and other third parties, revenue should be recognized on a sell-through basis (i.e., record revenue when products are dispensed to patients). In evaluating the proper revenue recognition for sales transactions, the Company considers all relevant factors, including additional discounts or extended payment terms which the Company grants to certain customers, often near the end of quarterly periods. Revenue from product sales is recognized net of provisions for estimated cash discounts, allowances, returns, rebates, chargebacks and distribution fees paid to certain of the Company’s wholesale customers. The Company establishes these provisions concurrently with the recognition of product sales revenue. Price appreciation credits are generated when the Company increases a product’s wholesaler acquisition cost (“WAC”) under its contracts with certain wholesalers. Under such contracts, the Company is entitled to credits from such wholesalers for the impact of that WAC increase on inventory currently on hand at the wholesalers. Such credits, which can be significant, are used to offset against the total distribution service fees the Company pays on all of its products to each wholesaler. Net revenue on these credits is recognized on the date that the wholesaler is notified of the price increase. The Company offers cash discounts for prompt payment and allowances for volume purchases to customers. Provisions for cash discounts and allowances are estimated based on contractual sales terms with customers, an analysis of unpaid invoices, and historical payment experience. The Company generally allows customers to return product within a specified period of time before and after its expiration date, excluding the Company’s European businesses which generally do not carry a right of return. Provisions for returns are estimated based on historical sales and return levels, taking into account additional available information such as historical return and exchange levels, external data with respect to inventory levels in the wholesale distribution channel, external data with respect to prescription demand for the Company’s products, remaining shelf lives of the Company’s products at the date of sale and estimated returns liability to be processed by year of sale based on analysis of lot information related to actual historical returns. The Company reviews its methodology and adequacy of the provision for returns on a quarterly basis, adjusting for changes in assumptions, historical results and business practices, as necessary. The Company is subject to rebates on sales made under governmental and managed-care programs in the U.S., and chargebacks on sales made to government agencies, group purchasing organizations and other indirect customers. Provisions for rebates and chargebacks are estimated based on historical utilization levels, relevant statutes with respect to governmental pricing programs and contractual sales terms with managed-care providers and group purchasing organizations. Changes in the level of utilization of the Company’s products through private or public benefit plans and group purchasing organizations will impact the amount of rebates and chargebacks that the Company is obligated to pay. The Company is party to product manufacturing and supply agreements with a number of commercialization counterparties in the U.S. Under the terms of these agreements, the Company’s supply prices for its products are determined after taking into consideration estimates for future returns, rebates, and chargebacks provided by each counterparty. The Company makes adjustments, as needed, to state these estimates on a basis consistent with this policy and its methodology for estimating returns, rebates and chargebacks related to its own direct product sales. Research and Development Expenses Costs related to internal research and development programs, including costs associated with the development of acquired IPR&D, are expensed as goods are delivered or services are performed. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Before a product receives regulatory approval, milestone payments made to third parties are expensed and included in Research and development expenses when the milestone is achieved . Milestone payments made to third parties after regulatory approval is received are capitalized and amortized over the estimated useful life of the approved product. Amounts due from third parties as reimbursement of development activities conducted under certain research and development arrangements are recognized as a reduction of Research and development expenses. Legal Costs Legal fees and other costs related to litigation and other legal proceedings are expensed as incurred and are included in Selling, general and administrative expenses. Certain legal costs associated with acquisitions are included in Acquisition-related costs, and certain legal costs associated with divestitures, legal settlements and other business development activities are included in Other (income) expense, net or Gain on investments, net, as appropriate. Legal costs expensed are reported net of expected insurance recoveries. A claim for insurance recovery is recognized when realization becomes probable. Advertising Costs Advertising costs comprise product samples, print media, promotional materials and television advertising. Advertising costs related to new product launches are expensed on the first use of the advertisement. Included in Prepaid expenses and other current assets are prepaid advertising costs of $7 million and $8 million , as of December 31, 2017 and 2016 , respectively. Included in Selling, general and administrative expenses are advertising costs of $462 million , $564 million and $652 million , for 2017, 2016 and 2015 , respectively. Share-Based Compensation The Company recognizes all share-based payments to employees, including grants of employee stock options and restricted share units (“RSUs”), at estimated fair value. The Company amortizes the fair value of stock option or RSU grants on a straight-line basis over the requisite service period of the individual stock option or RSU grant, which generally equals the vesting period. Stock option and RSU forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Share-based compensation is recorded in Research and development expenses, Selling, general and administrative expenses and Other (income) expense, net , as appropriate. See “Adoption of New Accounting Standards” in this Note 2 for details on the Company's adoption of a new standard related to share-based compensation. Acquisition-Related Contingent Consideration Acquisition-related contingent consideration, which primarily consists of potential milestone payments and royalty obligations, is recorded in the consolidated balance sheets at its acquisition date estimated fair value, in accordance with the acquisition method of accounting. The fair value of the acquisition-related contingent consideration is remeasured each reporting period, with changes in fair value recorded in the consolidated statements of operations. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in fair value measurement accounting. Interest Expense Interest expense includes standby fees and the amortization of debt discounts and deferred financing costs. Interest costs are expensed as incurred, except to the extent such interest is related to construction in progress, in which case interest is capitalized. Capitalized interest related to construction in progress for 2017, 2016 and 2015 was $32 million , $24 million and $14 million , respectively. Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the differences between the financial statement and income tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. A valuation allowance is provided for the portion of deferred tax assets that is more likely than not to remain unrealized. Deferred tax assets and liabilities are measured using enacted tax rates and laws. Deferred tax assets for outside basis differences in investments in subsidiaries are only recognized if the difference will be realized in the foreseeable future. The tax benefit from an uncertain tax position is recognized only if it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority, based on the technical merits of the position. The tax benefits recognized from such position are measured based on the amount that is greater than 50% likely of being realized upon settlement. Liabilities associated with uncertain tax positions are classified as long-term unless expected to be paid within one year. Interest and penalties related to uncertain tax positions, if any, are recorded in the provision for income taxes and classified with the related liability on the consolidated balance sheets. In accordance with recently issued accounting guidance, the Company has provisionally provided for the income tax effects of the Tax Cuts and Jobs Act (the “Tax Act”) which was enacted on December 22, 2017. The Company will finalize the provisional amounts within one year of enactment, December 22, 2018. Earnings Per Share Basic earnings per share attributable to Valeant Pharmaceuticals International, Inc. is calculated by dividing net income attributable to Valeant Pharmaceuticals International, Inc. by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is calculated by dividing net income attributable to Valeant Pharmaceuticals International, Inc. by the weighted-average number of common shares outstanding during the reporting period after giving effect to dilutive potential common shares for stock options and RSUs, determined using the treasury stock method. Comprehensive Income Comprehensive income comprises net income and other comprehensive income. Other comprehensive income includes items such as foreign currency translation adjustments, unrealized holding gains and losses on available-for-sale and other investments and certain pension and other postretirement benefit plan adjustments. Accumulated other comprehensive income is recorded as a component of shareholders’ equity. Contingencies In the normal course of business, the Company is subject to loss contingencies, such as claims and assessments arising from litigation and other legal proceedings, contractual indemnities, product and environmental liabilities, and tax matters. Accruals for loss contingencies are recorded when the Company determines that it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. If the estimate of the amount of the loss is a range and some amount within the range appears to be a better estimate than any other amount within the range, that amount is accrued as a liability. If no amount within the range is a better estimate than any other amount, the minimum amount of the range is accrued as a liability. These accruals are adjusted periodically as assessments change or additional information becomes available. If no accrual is made for a loss contingency because the amount of loss cannot be reasonably estimated, the Company will disclose contingent liabilities when there is at least a reasonable possibility that a loss or an additional loss may have been incurred. Certain legal-related contingencies assumed in the acquisition of Salix Pharmaceuticals, Ltd. (“Salix”) were recorded at estimated fair value. See Note 3, "ACQUISITIONS" for additional information. Employee Benefit Plans The Company sponsors various retirement and pension plans, including defined benefit pension plans, defined contribution plans and a participatory defined benefit postretirement plan. The determination of defined benefit pension and postretirement plan obligations and their associated expenses requires the use of actuarial valuations to estimate the benefits employees earn while working, as well as the present value of those benefits. Net actuarial gains and losses that exceed 10 percent of the greater of the plan’s projected benefit obligations or the market-related value of assets are amortized to earnings over the shorter of the estimated average future service period of the plan participants (or the estimated average future lifetime of the plan participants if the majority of plan participants are inactive) or the period until any anticipated final plan settlements. Adoption of New Accounting Standards In August 2016, the Financial Accounting Standards Board (the “FASB”) issued guidance which adds or clarifies the classification of certain cash receipts and payments in the statement of cash flows (including debt repayment or debt extinguishment costs, contingent consideration payment after a business combination, and distributions received from equity method investees). The guidance was effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption was permitted. The Company adopted this amended guidance in 2017 which did not have a material impact on the presentation of the Company's cash flows for the periods presented. In October 2016, the FASB amended the guidance as to how a reporting entity that is the single decision maker of a VIE should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The amended guidance was effective for annual reporting periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted this amended guidance as of January 1, 2017 which did not have a material impact on the presentation of the Company's results of operations, cash flows or financial position for the periods presented. In November 2016, the FASB issued guidance which requires entities to include restricted cash in cash and cash equivalent balances on the statement of cash flows and disclose a reconciliation between the balances on the statement of cash flows and the balance sheet. The guidance was effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption was permitted. The Company adopted this amended guidance in 2017 on a retrospective basis, which did not have a material impact on the presentation of the Company's cash flows for the periods presented. In May 2017, the FASB issued guidance identifying the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting. The guidance was effective for annual periods beginning after December 15, 2017. The Company has not modified any outstanding awards, and therefore, does not have modification accounting. The Company has adopted this guidance in the fourth quarter of 2017 and concluded it did not have a material impact its financial position, results of operations, cash flows and disclosures for the periods presented. In December 2017, the U.S. Securities and Exchange Commission (the "SEC") issued guidance for

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS There were no business combinations in 2017 and one business combination in 2016 that was not material. The measurement period for all acquisitions has closed. 2015 Business Combinations Amoun On October 19, 2015, the Company acquired Mercury (Cayman) Holdings, the holding company of Amoun Pharmaceutical Company S.A.E. (“Amoun”), for an aggregate purchase price of approximately $906 million , which included cash plus contingent consideration (the “Amoun Acquisition”). Amoun develops and markets a wide range of pharmaceutical brands in therapeutic areas such as anti-hypertensives, broad spectrum antibiotics, and anti-diarrheals primarily in North Africa and the Middle East. Fair Value of Consideration Transferred The fair value of consideration transferred to affect the Amoun Acquisition consisted of $847 million in cash, plus contingent consideration based upon the achievement of specified sales-based milestones. The range of potential milestone payments as of the acquisition date was from nil, if none of the milestones were achieved, to a maximum of up to approximately $75 million over time, if all milestones are achieved. The fair value of the contingent consideration was estimated at the acquisition date to be $59 million and was determined using probability-weighted discounted cash flows. Included in Other expense (income) for 2015 is a charge for post-combination expense of $12 million related to cash bonuses paid to Amoun employees. Assets Acquired and Liabilities Assumed The estimated fair values of the acquired identifiable intangible assets, excluding acquired IPR&D, as adjusted, and subject to the finalization of certain working capital provisions were $520 million and consisted of: (in millions) Weighted-Average Useful Lives (Years) Final Fair Value Product brands 9 $ 480 Corporate brand 17 40 Total identifiable intangible assets acquired $ 520 Goodwill of $284 million was allocated to the Company’s Bausch + Lomb/International segment (initially the former Emerging Markets segment) and represents: (i) the Company’s expectation to develop and market new products and expand its business to new geographic markets, (ii) the value of the continuing operations of Amoun's existing business (that is, the higher rate of return on the assembled net assets versus if the Company had acquired all of the net assets separately) and (iii) intangible assets that do not qualify for separate recognition (for instance, Amoun's assembled workforce). None of the goodwill is expected to be deductible for tax purposes. Revenues and net losses attributable to Amoun from the date of acquisition through December 31, 2015 were $48 million and $9 million , respectively, and include the effects of acquisition adjustments and acquisition-related costs. Sprout Pharmaceuticals, Inc. On October 1, 2015, the Company acquired Sprout Pharmaceuticals, Inc. (“Sprout”), pursuant to the merger agreement, among Sprout, the Company, Valeant Pharmaceuticals International (“Valeant”), Miranda Acquisition Sub, Inc., a wholly owned subsidiary of Valeant, and Shareholder Representative Services LLC, as stockholder representative, on a debt-free basis (the “Sprout Acquisition”), for an aggregate purchase price of approximately $1,447 million , which included cash plus contingent consideration. Sprout has focused solely on the delivery of a treatment option for the unmet need of pre-menopausal women with acquired, generalized hypoactive sexual desire disorder as characterized by low sexual desire that causes marked distress or interpersonal difficulty and is not due to a co-existing medical or psychiatric condition, problems within the relationship, or the effects of a medication or other drug substance. In August 2015, Sprout received approval from the U.S. Food and Drug Administration ("FDA") on its New Drug Application ("NDA") for flibanserin, which is being marketed as Addyi ® in the U.S. (launched in the U.S. in October 2015). Sprout also has global rights to flibanserin. On December 20, 2017 , the Company completed the sale of Sprout. Refer to Note 4, "DIVESTITURES" for additional information regarding the Sprout Sale. Fair Value of Consideration Transferred The Company paid approximately $530 million , inclusive of customary purchase price adjustments, upon closing of the transaction in October 2015, and an additional payment in the amount of $500 million (acquisition date fair value of $495 million ), included in accrued and other current liabilities as of December 31, 2015, which was paid in the first quarter of 2016. In addition, the transaction included contingent consideration representing payments to the former shareholders and former holders of vested stock appreciation rights of Sprout for a share of future profits. That share of future profits was uncapped and commenced on the date that the earlier of: (a) net cumulative worldwide sales of flibanserin products (plus any amounts received from sublicenses on the sale of flibanserin products) exceeded $1,000 million or (b) July 1, 2017; and continued until December 31, 2030. The total fair value of the contingent consideration of $422 million as of the acquisition date was determined using a Monte Carlo Simulation. Assets Acquired and Liabilities Assumed The estimated fair values of the acquired Identifiable intangible assets was $994 million and consisted of product rights with a weighted-average useful life of 11 years. Goodwill of $770 million was allocated to the Branded Rx segment (initially the former Developed Markets segment) and represented: (i) the Company’s potential ability to develop and market the product to additional types of patients/indications and launch the product in a variety of new geographies, (ii) the value of the continuing operations of Sprout's existing business and (iii) intangible assets that do not qualify for separate recognition. None of the goodwill is expected to be deductible for tax purposes. Revenues attributable to Sprout from the date of acquisition through December 31, 2015 were nominal. Net losses attributable to Sprout from the date of acquisition through December 31, 2015 were $37 million and include the effects of acquisition adjustments and acquisition-related costs. Salix On April 1, 2015, the Company acquired Salix, pursuant to an Agreement and Plan of Merger dated February 20, 2015, as amended on March 16, 2015 (the “Salix Merger Agreement”), with Salix surviving as a wholly owned subsidiary of Valeant, a subsidiary of the Company (the “Salix Acquisition”). Salix is a specialty pharmaceutical company dedicated to developing and commercializing prescription drugs and medical devices used in treatment of variety of gastrointestinal ("GI") disorders with a portfolio of over 20 marketed products, including Xifaxan ® , Uceris ® , Apriso ® , Glumetza ® , and Relistor ® . The Salix Acquisition, as well as related transactions and expenses, were funded through a combination of: (i) the proceeds from an issuance of senior unsecured notes that closed on March 27, 2015; (ii) the proceeds from incremental term loan commitments; (iii) the proceeds from a registered offering of the Company’s common shares in the United States that closed on March 27, 2015; and (iv) cash on hand. For further information regarding these debt and equity issuances, see Note 11, "FINANCING ARRANGEMENTS" and Note 13, "SHAREHOLDERS' EQUITY" , respectively. Fair Value of Consideration Transferred The purchase price of the Salix Acquisition was $13,132 million , and consisted of cash payments of: (i) $11,329 million to cancel the outstanding common shares, stock options, and restricted stock units of Salix (net of the non-vested portion of Salix restricted stock units), (ii) $1,125 million to redeem Salix’s Term Loan B Credit Facility repaid concurrently with the consummation of the Salix Acquisition and not assumed by the Company and (iii) $842 million to redeem Salix’s 6.00% Senior Notes due 2021 satisfied and discharged concurrently with the consummation of the Salix Acquisition and not assumed by the Company. The purchase price excludes $165 million paid by the Company at closing to settle the non-vested portion of Salix restricted stock units, the vesting of which was accelerated in connection with the Salix Acquisition and accounted for by the Company as a post-combination expense included in Other expense (income). Assets Acquired and Liabilities Assumed Acquisition accounting was finalized in the fourth quarter of 2015. The following table provides the fair value of the assets acquired and liabilities assumed in the Salix Acquisition as of the acquisition date. (in millions) Final Fair Value Cash and cash equivalents $ 114 Inventories 232 Other assets 1,410 Property, plant and equipment 24 Identifiable intangible assets, excluding acquired IPR&D 6,756 Acquired IPR&D - Xifaxan ® IBS-D 4,790 Acquired IPR&D - Other 393 Current liabilities (1,939 ) Contingent consideration (334 ) Long-term debt (3,123 ) Deferred income taxes, net of deferred tax assets (3,428 ) Other non-current liabilities (43 ) Total identifiable net assets 4,852 Goodwill 8,280 Total fair value of consideration transferred $ 13,132 Other assets includes the fair value of $1,270 million of the capped call transactions and convertible bond hedge transactions that were entered into by Salix prior to the Salix Acquisition in connection with its 1.5% Convertible Senior Notes due 2019 and 2.75% Convertible Senior Notes due 2015. The capped call transactions and convertible bond hedge transactions were settled on the date of the Salix Acquisition and, as such, the fair value was equal to the settlement amounts. The following table summarizes the amounts and useful lives assigned to identifiable intangible assets: (in millions) Weighted- Average Useful Lives (Years) Final Fair Value Product brands 10 $ 6,089 Corporate brand 20 667 Total identifiable intangible assets acquired $ 6,756 Acquired IPR&D assets were valued from a market participant perspective using a multi-period excess earnings methodology (income approach). The projected cash flows from these assets were adjusted for the probabilities of successful development and commercialization of each project, and the Company used risk-adjusted discount rates of 9.5% - 11% to present value the projected cash flows. Current liabilities include: (i) $1,080 million for warrant transactions that Salix entered into in connection with its 1.5% Convertible Senior Notes due 2019 (these instruments were settled at closing of the transaction and the fair value are the settlement amounts), (ii) $336 million for potential losses and related costs associated with ongoing Salix legal matters (see Note 21, "LEGAL PROCEEDINGS" for additional information) and (iii) $375 million of product returns and rebates. Contingent consideration consists of potential payments to third parties including developmental milestone payments due upon specified regulatory achievements, commercialization milestones contingent upon achieving specified targets for net sales, and royalty-based payments. As of the acquisition date, potential milestone payments (excluding royalty-based payments) ranged from nil if none of the milestones are achieved, to approximately $650 million (the majority of which relates to sales-based milestones) over time. This amount includes up to $250 million in developmental and sales-based milestones related to Relistor ® (including Oral Relistor ® ), of which $50 million was paid in the third quarter of 2016 in connection with the FDA's approval of Oral Relistor ® . The fair value of the contingent consideration assumed was $334 million and was determined using probability-weighted discounted cash flows. See Note 6, "FAIR VALUE MEASUREMENTS" for additional information regarding the contingent consideration. Long term debt is Salix debt assumed at the acquisition date and consisted of: (i) $1,837 million in 1.5% Convertible Senior Notes due 2019 and (ii) $1,286 million in 2.75% Convertible Senior Notes due 2015. The Company redeemed these amounts in the second quarter of 2015, except for a nominal amount of the 1.5% Convertible Senior Notes due 2019 which remains outstanding. Goodwill has been allocated to the Branded Rx segment (initially the former Developed Markets segment) and represents: (i) the Company’s expectation to develop and market new product brands, product lines and technology; (ii) cost savings and operating synergies expected to result from combining the operations of Salix with those of the Company; (iii) the value of the continuing operations of Salix’s existing business; and (iv) intangible assets that do not qualify for separate recognition. None of the goodwill is expected to be deductible for tax purposes. Revenues and net losses attributable to Salix from the date of acquisition through December 31, 2015 were $1,276 million and $302 million , respectively, and include the effects of acquisition adjustments and acquisition-related costs. Other 2015 Business Combinations In 2015, the Company completed other business combinations (excluding the Amoun Acquisition, the Sprout Acquisition, and the Salix Acquisition) for an aggregate purchase price of $1,407 million . These other business combinations included contingent consideration arrangements with an original aggregate estimated fair value of $186 million , primarily related to the acquisition of certain assets of Marathon Pharmaceuticals, LLC ("Marathon"), as well as milestone payments and royalties related to other smaller acquisitions. See Note 6, "FAIR VALUE MEASUREMENTS" for additional information regarding contingent consideration. • On February 23, 2015, the Company, completed via a "stalking horse bid" in a sales process conducted under the U.S. Bankruptcy Code, for the acquisition of certain assets of Dendreon Corporation for a purchase price of $415 million , net of cash received of $80 million . The purchase price included approximately $50 million in stock consideration, and the Company issued such common shares in June 2015. The assets acquired included the worldwide rights to the Provenge ® product (an immunotherapy treatment designed to treat men with advanced prostate cancer). On June 28, 2017, the Company completed the sale of all outstanding equity interests in Dendreon Pharmaceuticals LLC. See Note 4, "DIVESTITURES" for additional information. • On February 10, 2015, the Company acquired certain assets of Marathon, which included a portfolio of hospital products, including Nitropress ® , Isuprel ® , Opium Tincture, Pepcid ® , Seconal ® Sodium, Amytal ® Sodium, and Iprivask ® for an aggregate purchase price of $286 million which is net of a $64 million assumed liability owed to a third party. The Company also assumed a contingent consideration liability related to potential payments, in the aggregate, of up to $200 million for Isuprel ® and Nitropress ® , the amounts of which are dependent on the timing of generic entrants for these products. The fair value of the liability as of the acquisition date was $87 million and was determined using probability-weighted projected cash flows. Through December 31, 2017, 2016 and 2015, the Company made contingent consideration payments of $16 million , $50 million and $35 million , respectively, related to the acquisition of certain assets of Marathon. • In 2015, the Company completed other acquisitions which are not material individually or in the aggregate. These acquisitions are included in the aggregated amounts presented below. Assets Acquired and Liabilities Assumed These transactions have been accounted for as business combinations under the acquisition method of accounting. The estimated fair values of acquired Identifiable intangible assets, excluding acquired IPR&D is summarized as follows: (in millions) Weighted- Average Useful Lives (Years) Final Fair Value Product brands 7 $ 735 Product rights 3 42 Corporate brands 16 7 Partner relationships 8 8 Technology/know-how 10 284 Other 6 2 Total identifiable intangible assets acquired $ 1,078 Goodwill of $139 million associated with these acquisitions was allocated primarily to the Company’s Bausch + Lomb/International segment (initially primarily to the former Developed segment) and primarily relates to certain smaller acquisitions and the acquisition of certain assets of Marathon. The goodwill represents primarily the cost savings, operating synergies and other benefits expected to result from combining the operations with those of the Company. The majority of the goodwill is not expected to be deductible for tax purposes. Revenues and net income attributable to these business combinations from the respective dates of acquisition through December 31, 2015 were $771 million and $208 million , respectively, and include the effects of acquisition adjustments and acquisition-related costs. Pro Forma Impact of Business Combinations The following table presents unaudited pro forma consolidated results of operations for 2015, as if the 2015 acquisitions had occurred as of January 1, 2014. (in millions, except per share amounts) 2015 Revenues $ 10,710 Net loss attributable to Valeant Pharmaceuticals International, Inc. $ (619 ) Loss per share attributable to Valeant Pharmaceuticals International, Inc.: Basic $ (1.80 ) Diluted $ (1.80 ) The unaudited pro forma consolidated results of operations were prepared using the acquisition method of accounting and are based on the historical financial information of the Company and the acquired businesses. Except to the extent realized in 2015, the unaudited pro forma information does not reflect any cost savings, operating synergies or other benefits that the Company achieved as a result of these acquisitions, or the costs necessary to achieve these cost savings, operating synergies or other benefits. In addition, except to the extent recognized, the unaudited pro forma information does not reflect the costs to integrate the operations of the Company with those of the acquired businesses. The unaudited pro forma information is not necessarily indicative of what the Company’s consolidated results of operations actually would have been had the 2015 acquisitions been completed on January 1, 2014. In addition, the unaudited pro forma information does not purport to project the future results of operations of the Company. The unaudited pro forma information reflects primarily the following adjustments: • elimination of historical intangible asset amortization expense of these acquisitions; • additional amortization expense related to the fair value of identifiable intangible assets acquired; • additional depreciation expense related to fair value adjustment to property, plant and equipment acquired; • additional interest expense associated with the financing obtained in connection with the Salix Acquisition; and • the exclusion from pro forma earnings for 2015 of the aggregate acquisition related accounting adjustments to the inventories acquired and subsequently sold of $130 million , the acquisition-related costs incurred for these acquisitions of $35 million and the inclusion of those amounts in pro forma earnings of the preceding years. All of the above adjustments were adjusted for the applicable tax impact. 2015 Licensing Agreement On October 1, 2015, pursuant to a license agreement entered into with AstraZeneca Collaboration Ventures, LLC (“AstraZeneca”), the Company was granted an exclusive license to develop and commercialize brodalumab. Brodalumab is an IL-17 receptor monoclonal antibody in development for patients with moderate-to-severe plaque psoriasis and psoriatic arthritis. Under the license agreement, the Company initially held the exclusive rights to develop and commercialize brodalumab globally, except in Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin Co., Ltd under a prior arrangement with Amgen Inc., the originator of brodalumab. The Company has assumed all remaining development obligations associated with the regulatory approval for brodalumab in its territory subsequent to the acquisition. Regulatory submission in the U.S. and European Union for brodalumab in moderate-to-severe psoriasis occurred in November 2015. On February 16, 2017, the Company announced that the FDA had approved the Biologics License Application ("BLA") for brodalumab injection, marketed as Siliq ™ , for subcutaneous use for the treatment of moderate-to-severe plaque psoriasis in adult patients who are candidates for systemic therapy or phototherapy and have failed to respond or have lost response to other systemic therapies. On July 27, 2017, Siliq ™ was launched in the U.S. This product has a Black Box Warning for the risks in patients with a history of suicidal thoughts or behavior and was approved with a Risk Evaluation and Mitigation Strategy involving a one-time enrollment for physicians and one-time informed consent for patients. Under the terms of the agreement, the Company made an up-front payment to AstraZeneca of $100 million in October 2015, which was recognized in Acquired in-process research and development costs in the fourth quarter of 2015 in the consolidated statement of operations as the product has not yet received regulatory approval at the time of the acquisition. In addition, under the terms of the license agreement, the Company may pay additional regulatory milestones of up to $170 million (subsequently decreased to $150 million as described below and of which $130 million was paid as a result of the FDA's approval on February 15, 2017 of the BLA for Siliq ™ ) and sales-related milestone payments of up to $175 million following launch. Upon launch, AstraZeneca and the Company will share profits. On June 30, 2016, the Company and AstraZeneca amended the original license agreement to terminate the Company's right to develop and commercialize brodalumab in Europe, in exchange for payments by AstraZeneca to the Company, which consist of an up-front payment and certain sales-based milestones, and a reduction of one of the pre-launch milestones payable by the Company under the license agreement. Concurrently, the Company and AstraZeneca entered into other agreements, amongst which include a settlement agreement to resolve certain disputed invoices related to transition services. 2017 Licensing Agreement On February 21, 2017, EyeGate Pharmaceuticals, Inc. (“EyeGate”) granted a subsidiary of the Company the exclusive worldwide licensing rights to manufacture and sell the EyeGate ® II Delivery System and EGP-437 combination product candidate for the treatment of post-operative pain and inflammation in ocular surgery patients. EyeGate will be responsible for the continued development of this product candidate in the U.S. for the treatment of post-operative pain and inflammation in ocular surgery patients, and all associated costs. The Company has the right to further develop the product in the field outside of the U.S. at its cost. In connection with the licensing agreement, the Company paid an initial license fee of $4 million during the three months ended March 31, 2017 and is obligated to make future payments of: (i) up to $34 million upon the achievement of certain development and regulatory milestones, of which $3 million has been paid, (ii) up to $65 million upon the achievement of certain sales-based milestones and (iii) royalties. Based on early stage of development of the asset, and lack of acquired significant inputs, the Company concluded this was an asset acquisition.

DIVESTITURES

DIVESTITURES	12 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURES	DIVESTITURES The Company has divested certain businesses and assets, which, in each case, was not aligned with its core business objectives. 2017 CeraVe ® , AcneFree ™ and AMBI ® skincare brands On March 3, 2017, the Company completed the sale of its interests in the CeraVe ® , AcneFree ™ and AMBI ® skincare brands for $1,300 million in cash (the “Skincare Sale”). The CeraVe ® , AcneFree ™ and AMBI ® skincare business was part of the Bausch + Lomb/International segment and was reclassified as held for sale as of December 31, 2016. Included in Other (income) expense, net is the Gain on the Skincare Sale of $309 million , as adjusted, in the consolidated statement of operations. Dendreon Pharmaceuticals LLC On June 28, 2017, the Company completed the sale of all outstanding equity interests in Dendreon Pharmaceuticals LLC (formerly Dendreon Pharmaceuticals, Inc.) (“Dendreon”) for $845 million in cash (the “Dendreon Sale”), as adjusted. Dendreon was part of the Branded Rx segment and was reclassified as held for sale as of December 31, 2016. Included in Other (income) expense, net is the Gain on the Dendreon Sale of $97 million , as adjusted, in the consolidated statement of operations. iNova Pharmaceuticals On September 29, 2017, the Company completed the sale of its Australian-based iNova Pharmaceuticals (“iNova”) business for $938 million in cash (the “iNova Sale”), as adjusted, and subject to the finalization of certain working capital provisions. iNova markets a diversified portfolio of weight management, pain management, cardiology and cough and cold prescription and OTC products in more than 15 countries, with leading market positions in Australia and South Africa, as well as an established platform in Asia. The Company will continue to operate in these geographies through the Bausch + Lomb franchise. The iNova business was part of the Bausch + Lomb/International segment and was reclassified as held for sale as of December 31, 2016. Included in Other (income) expense, net is the Gain on the iNova Sale of $309 million , as adjusted, in the consolidated statement of operations. Obagi Medical Products, Inc. On November 9, 2017, certain of the Company's affiliates completed the sale its Obagi Medical Products, Inc. (“Obagi”) business for $190 million in cash (the “Obagi Sale”). Obagi is a global specialty skin care pharmaceutical business with products focused on premature skin aging, skin damage, hyperpigmentation, acne and sun damage which are primarily available through dermatologists, plastic surgeons and other skin care professionals. The Obagi business was part of the U.S. Diversified Products segment and was reclassified as held for sale as of March 31, 2017. The carrying value of the Obagi business, including associated goodwill, was adjusted to its estimated fair value less costs to sell and an impairment of $103 million was recognized in Asset impairments in the consolidated statement of operations. Included in Other (income) expense, net is a $13 million loss related to this transaction in the consolidated statement of operations. Sprout Pharmaceuticals, Inc. On December 20, 2017 , the Company completed the sale of Sprout to a buyer affiliated with certain former shareholders of Sprout (the “Sprout Sale”), in exchange for a 6% royalty on global sales of Addyi ® (flibanserin 100 mg) beginning June 2019. In connection with the completion of the Sprout Sale, the terms of the October 2015 merger agreement relating to the Company's acquisition of Sprout were amended to terminate the Company's ongoing obligation to make future royalty payments associated with the Addyi ® product, as well as certain related provisions (including the obligation to make certain marketing and other expenditures). In connection with the completion of the Sprout Sale, the litigation against the Company, initiated on behalf of the former shareholders of Sprout, which disputed the Company's compliance with certain contractual terms of that same merger agreement with respect to the use of certain diligent efforts to develop and commercialize the Addyi ® product (including a disputed contractual term with respect to the spend of no less than $200 million in certain expenditures), was dismissed with prejudice. In connection with the completion of the Sprout Sale, the Company issued the buyer a five -year $25 million loan for initial operating expenses. Addyi ® , a once-daily, non-hormonal tablet approved for the treatment of acquired, generalized hypoactive sexual desire disorder in premenopausal women, is Sprout's only approved and commercialized product. Sprout was part of the Branded Rx segment and was reclassified as held for sale as of September 30, 2017. The carrying value of the Sprout business, including associated goodwill, was adjusted to its estimated fair value less costs to sell and a $352 million impairment was recognized in Asset impairments in the consolidated statement of operations. Upon consummation of the transaction, a loss of $98 million was recognized in Other (income) expense, net in the consolidated statement of operations. The Company will recognize the agreed upon 6% royalty of global sales of Addyi ® beginning in June 2019 as these royalties become due, as the Company does not recognize contingent payments until such amounts are realizable. 2016 Portfolio of Neurology Medical Device Products On April 1, 2016, the Company completed the sale of a portfolio of neurology medical device products, including product rights and related fixed assets, for an upfront payment and certain future milestone payments. These assets were included in the Bausch + Lomb /International segment and a nominal loss on sale in the second quarter of 2016 was recorded. Ruconest ® On December 7, 2016, the Company completed the sale of all North American commercialization rights to Ruconest ® (recombinant human C1 esterase inhibitor) for up to $125 million in consideration, consisting of $60 million paid at closing and future sales-based milestone payments of up to $65 million . These assets were included in the Branded Rx segment and was reclassified as held for sale in the second quarter of 2016. At that time, the assets were written down to the fair value of the expected consideration and a loss of $199 million was recorded in Asset impairments in the consolidated statement of operations. Upon consummation of the transaction on December 7, 2016, a loss of $22 million was recognized in Other expense (income) in the consolidated statement of operations, representing the estimated fair value of the contingent consideration associated with the sale as the Company does not recognize contingent payments until such amounts are realizable. Through December 31, 2017, no sales-based milestones have been achieved. Paragon Holdings I, Inc. On November 9, 2016, the Company completed the sale of Paragon Holdings I, Inc. In connection with the divestiture, the Company recognized a loss of $19 million in the third quarter of 2016, when the assets of the divested business were classified as held for sale. ASSETS AND LIABILITIES HELD FOR SALE In addition, the Company has classified a number of small businesses and assets as held for sale as of December 31, 2017 and 2016 as it expects to consummate the divestiture of these businesses within the next twelve months. The assets related to these businesses were included in the Company’s Bausch + Lomb/International segment. As a result, the carrying values of the assets related to these businesses, including the associated goodwill, were written down to fair value less costs to sell and a loss of $75 million were recognized in Asset impairments in 2016 . The components of assets held for sale, as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Current assets held for sale: Cash $ — $ 1 Trade receivables — 86 Inventories — 147 Other — 27 Current assets held for sale $ — $ 261 Non-current assets held for sale: Identifiable intangible assets $ 12 $ 680 Goodwill — 1,355 Other — 97 Non-current assets held for sale $ 12 $ 2,132 Liabilities held for sale as of December 31, 2017 were $0 . Current and Non-current liabilities held for sale as of December 31, 2016 of $57 million and $57 million , respectively, consists of deferred tax liabilities and other liabilities.

RESTRUCTURING AND INTEGRATION C

RESTRUCTURING AND INTEGRATION COSTS	12 Months Ended
	Dec. 31, 2017
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND INTEGRATION COSTS	RESTRUCTURING AND INTEGRATION COSTS In connection with the Salix Acquisition and other acquisitions, the Company implemented cost-rationalization and integration initiatives to capture operating synergies and generate cost savings. These measures included: (i) workforce reductions company-wide and other organizational changes, (ii) closing of duplicative facilities and other site rationalization actions company-wide, including research and development facilities, sales offices and corporate facilities, (iii) leveraging research and development spend and (iv) procurement savings. Salix Acquisition-Related Cost-Rationalization and Integration Initiatives Cost-rationalization and integration initiatives relating to the Salix Acquisition were substantially completed by mid-2016. Total costs incurred primarily include: employee termination costs payable to approximately 475 employees of the Company and Salix who have been terminated as a result of the Salix Acquisition; costs to consolidate or close facilities and relocate employees; and contract termination and lease cancellation costs. Since the acquisition date, total costs of $274 million have been incurred through December 31, 2017 , including: (i) $153 million of integration expenses, (ii) $106 million of restructuring expenses and (iii) $15 million of acquisition-related costs. Salix Restructuring Costs Salix restructuring costs incurred were $7 million , $7 million and $92 million , and payments were $13 million , $34 million and $58 million in 2017, 2016 and 2015 , respectively. The remaining liability associated with these activities as of December 31, 2017 was $3 million . Salix Integration Costs Salix integration costs were $0 , $43 million and $110 million , and payments were $1 million , $25 million and $100 million in 2017, 2016 and 2015 , respectively. The remaining liability associated with these activities as of December 31, 2017 was $6 million . Other Restructuring and Integration-Related Costs (Excluding Salix) During 2017, in addition to the Salix restructuring and integration costs, the Company incurred $45 million of other restructuring and integration-related costs. These costs included: (i) $16 million of integration consulting, transition service, and other costs, (ii) $16 million of severance costs and (iii) $13 million of facility closure costs. The Company made payments of $71 million during 2017 (in addition to the payments related to Salix). The remaining liability associated with these activities as of December 31, 2017 was $29 million . During 2016, in addition to the Salix restructuring and integration costs, the Company incurred $82 million of other restructuring and integration costs. These costs included: (i) $48 million of integration consulting, duplicate labor, transition service, and other costs, (ii) $24 million of severance costs, (iii) $9 million of facility closure costs and (iv) $1 million of other costs. These costs primarily related to integration and restructuring costs for other smaller acquisitions. The Company made payments of $62 million during 2016 (in addition to the payments related to Salix). During 2015, in addition to the Salix restructuring and integration costs, the Company incurred $160 million of other restructuring and integration costs. These costs included: (i) $103 million of integration consulting, duplicate labor, transition service, and other costs, (ii) $47 million of severance costs, (iii) $9 million of facility closure costs and (iv) $1 million of other costs. These costs primarily related to integration and restructuring costs for the acquisition of certain assets of Dendreon Corporation and other smaller acquisitions. The Company made payments of $179 million during 2015 (in addition to the payments related to Salix). The Company continues to evaluate opportunities to improve its operating results and may initiate additional cost savings programs to streamline its operations and eliminate redundant processes and expenses. The expenses associated with the implementation of these cost savings programs could be material and may include, but are not limited to, expenses associated with: (i) reducing headcount, (ii) eliminating real estate costs associated with unused or under-utilized facilities and (iii) implementing contribution margin improvement and other cost reduction initiatives.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value measurements are estimated based on valuation techniques and inputs categorized as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 — Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using discounted cash flow methodologies, pricing models, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following fair value hierarchy table presents the components and classification of the Company’s financial assets and liabilities measured at fair value as of December 31, 2017 and 2016 : 2017 2016 (in millions) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash equivalents $ 265 $ 230 $ 35 $ — $ 242 $ 179 $ 63 $ — Restricted cash $ 77 $ 77 $ — $ — $ — $ — $ — $ — Liabilities: Acquisition-related contingent consideration $ (387 ) $ — $ — $ (387 ) $ (892 ) $ — $ — $ (892 ) Restricted cash of $77 million was deposited with a bank as collateral to secure a bank guarantee for the benefit of the Australian Government in connection with the notice of assessment received on August 8, 2017 from the Australian Taxation Office, as discussed in Note 18, "INCOME TAXES" . The Company disagrees with the notice of assessment and continues to believe that its tax positions are appropriate and supported by the facts, circumstances and applicable laws. The Company intends to defend its tax position in this matter vigorously. On January 9, 2018, the cash collateral of $77 million of Restricted cash was returned to the Company in exchange for a $77 million letter of credit. There were no transfers between Level 1 and Level 2 during 2017 and 2016 . Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) The fair value measurement of contingent consideration obligations arising from business combinations is determined via a probability-weighted discounted cash flow analysis or Monte Carlo Simulation, using unobservable (Level 3) inputs. These inputs may include: (i) the estimated amount and timing of projected cash flows; (ii) the probability of the achievement of the factor(s) on which the contingency is based; (iii) the risk-adjusted discount rate used to present value the probability-weighted cash flows; and (iv) volatility of projected performance (Monte Carlo Simulation). Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for 2017 and 2016 : (in millions) 2017 2016 Beginning balance, January 1, $ 892 $ 1,156 Adjustments to Acquisition-related contingent consideration: Accretion for the time value of money $ 54 $ 92 Fair value adjustments to the expected future royalty payments for Addyi ® (312 ) (18 ) Fair value adjustments due to changes in estimates of other future payments (31 ) (87 ) Acquisition-related contingent consideration (289 ) (13 ) Reclassified to liabilities held for sale and subsequently disposed (168 ) (26 ) Payments / Settlements (49 ) (175 ) Foreign currency translation adjustment included in other comprehensive loss 1 (40 ) Measurement period adjustments to 2015 acquisitions and other — (10 ) Ending balance, December 31, 387 892 Current portion 43 52 Non-current portion $ 344 $ 840 During 2017 and prior to identifying the Sprout business as held for sale, the Company recorded fair value adjustments to contingent consideration to reflect management's revised estimates of the future sales of Addyi ® . The Sprout Sale was completed on December 20, 2017 and the remaining contingent consideration related to Addyi ® was eliminated. There were no transfers into or out of Level 3 during the years 2017 and 2016 . Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The following fair value hierarchy table presents the assets measured at fair value on a non-recurring basis as of December 31, 2017 and 2016 : As of December 31, 2017 As of December 31, 2016 (in millions) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Non-current assets held for sale $ — $ — $ — $ — $ 38 $ — $ — $ 38 Non-current assets held for sale of $2,132 million included in the consolidated balance sheet as of December 31, 2016 includes held for sale assets of $38 million , which were remeasured to estimated fair values less costs to sell. The Company recognized impairment charges of $75 million , in the aggregate, in Asset impairments for the year ended December 31, 2016 in the consolidated statement of operations. The estimated fair values of these assets less costs to sell were determined using a discounted cash flow analysis which utilized Level 3 unobservable inputs. The remaining balance of Non-current assets held for sale as of December 31, 2016 reflects the historical carrying value of those assets which do not exceed fair value less costs to sell. Long-term Debt The fair value of long-term debt as of December 31, 2017 and 2016 was $25,385 million and $26,297 million , respectively, and was estimated using the quoted market prices for the same or similar debt issuances (Level 2).

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of inventories, net of allowance for obsolescence as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Raw materials $ 276 $ 256 Work in process 146 125 Finished goods 626 680 $ 1,048 $ 1,061

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT The major components of property, plant and equipment as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Land $ 84 $ 78 Buildings 687 600 Machinery and equipment 1,436 1,214 Other equipment and leasehold improvements 358 278 Equipment on operating lease 42 42 Construction in progress 226 296 2,833 2,508 Less accumulated depreciation (1,430 ) (1,196 ) $ 1,403 $ 1,312 Depreciation expense was $168 million , $193 million and $210 million for 2017 , 2016 and 2015 , respectively.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Intangible Assets The major components of intangible assets as of December 31, 2017 and 2016 were as follows: Weighted- Average Useful Lives (Years) 2017 2016 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Product brands 6 $ 20,913 $ (9,281 ) $ 11,632 $ 20,725 $ (6,883 ) $ 13,842 Corporate brands 10 933 (179 ) 754 999 (146 ) 853 Product rights/patents 5 3,310 (2,346 ) 964 4,240 (2,118 ) 2,122 Partner relationships 2 179 (169 ) 10 152 (128 ) 24 Technology and other 4 214 (147 ) 67 252 (160 ) 92 Total finite-lived intangible assets 25,549 (12,122 ) 13,427 26,368 (9,435 ) 16,933 Acquired IPR&D not in service NA 86 — 86 253 — 253 B&L Trademark NA 1,698 — 1,698 1,698 — 1,698 $ 27,333 $ (12,122 ) $ 15,211 $ 28,319 $ (9,435 ) $ 18,884 Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Impairment charges associated with these assets are included in Asset impairments in the consolidated statement of operations. The Company continues to monitor the recoverability of its finite-lived intangible assets and tests the intangible assets for impairment if indicators of impairment are present. Asset impairments for the year ended December 31, 2017 include: (i) an impairment of $351 million related to the Sprout business being classified as held for sale, (ii) impairments of $151 million reflecting decreases in forecasted sales for other product lines, (iii) impairments of $114 million to other assets classified as held for sale, primarily related to the Obagi business, (iv) impairments of $95 million , in aggregate, to certain product/patent assets associated with the discontinuance of specific product lines not aligned with the focus of the Company's core business and (v) impairments of $3 million related to acquired IPR&D. The impairments to assets reclassified as held for sale were measured as the difference of the carrying value of these assets as compared to the estimated fair values of these assets less costs to sell determined using a discounted cash flow analysis which utilized Level 3 unobservable inputs. The other impairments and adjustments to finite-lived intangible assets were measured as the difference of the historical carrying value of these finite-lived assets as compared to the estimated fair value as determined using a discounted cash flow analysis using Level 3 unobservable inputs. In connection with an ongoing litigation matter between the Company and potential generic competitors to the branded drug Uceris ® Tablet, the Company performed an impairment test of its Uceris ® Tablet related intangible assets. As the undiscounted expected cash flows from the Uceris ® Tablet exceed the carrying value of the Uceris ® Tablet related intangible assets, no impairment exists as of December 31, 2017 . However, if market conditions or legal outcomes differ from the Company’s assumptions, or if the Company is unable to execute its strategies, it may be necessary to record an impairment charge equal to the difference between the fair value and carrying value of the Uceris ® Tablet related intangible assets. As of December 31, 2017 , the carrying value of Uceris ® Tablet related intangible assets was $563 million . In review of the Company’s finite-lived intangible assets, management revised the estimated useful lives of certain intangible assets in the third and fourth quarters of 2017. As a result, the useful lives of certain product brands, with an aggregate carrying value of $7,618 million as of December 31, 2017 , were revised from an average of seven years to four years primarily due to revisions in the forecasted sales as a result of revisions to the date each product is expected to lose its exclusivity. In addition, the useful life of the Salix Brand, with a carrying value of $569 million as of December 31, 2017 , was revised from seventeen years to ten years, due to a change in the forecasted sales of its product portfolio. Estimated amortization of finite-lived intangible assets for the five years ending December 31 and thereafter are as follows: (in millions) 2018 $ 2,921 2019 2,684 2020 2,399 2021 2,045 2022 1,851 Thereafter 1,527 Total $ 13,427 Goodwill The changes in the carrying amount of goodwill for the years ended December 31, 2017 and 2016 were as follows: (in millions) Developed Markets Emerging Markets Bausch + Lomb/ International Branded Rx U.S. Diversified Products Total Balance, January 1, 2016 $ 16,141 $ 2,412 $ — $ — $ — $ 18,553 Acquisitions 1 — — — — 1 Divestiture of a portfolio of neurology medical device products (36 ) — — — — (36 ) Goodwill related to Ruconest ® reclassified to assets held for sale (37 ) — — — — (37 ) Foreign exchange and other 47 (12 ) — — — 35 Impairment to goodwill of the former U.S. reporting unit (905 ) — — — — (905 ) Realignment of segment goodwill (15,211 ) (2,400 ) 6,708 7,873 3,030 — Impairment to goodwill of the Salix reporting unit — — — (172 ) — (172 ) Divestitures — — (5 ) — — (5 ) Goodwill of certain businesses reclassified to assets held for sale — — (947 ) (431 ) — (1,378 ) Foreign exchange and other — — (257 ) (5 ) — (262 ) Balance, December 31, 2016 — — 5,499 7,265 3,030 15,794 Realignment of segment goodwill — — 264 (264 ) — — Balance, January 1, 2017 — — 5,763 7,001 3,030 15,794 Goodwill reclassified to assets held for sale and subsequently disposed — — (30 ) (61 ) (84 ) (175 ) Impairment — — — (312 ) — (312 ) Foreign exchange and other — — 283 3 — 286 Balance, December 31, 2017 $ — $ — $ 6,016 $ 6,631 $ 2,946 $ 15,593 Goodwill is not amortized but is tested for impairment at least annually at the reporting unit level. A reporting unit is the same as, or one level below, an operating segment. The fair value of a reporting unit refers to the price that would be received to sell the unit as a whole in an orderly transaction between market participants. The Company estimates the fair values of all reporting units using a discounted cash flow model which utilizes Level 3 unobservable inputs. The discounted cash flow model relies on assumptions regarding revenue growth rates, gross profit, projected working capital needs, selling, general and administrative expenses, research and development expenses, capital expenditures, income tax rates, discount rates and terminal growth rates. To estimate fair value, the Company discounts the forecasted cash flows of each reporting unit. The discount rate the Company uses represents the estimated weighted average cost of capital, which reflects the overall level of inherent risk involved in its reporting unit operations and the rate of return a market participant would expect to earn. To estimate cash flows beyond the final year of its model, the Company estimates a terminal value by applying an in perpetuity growth assumption and discount factor to determine the reporting unit's terminal value. The Company forecasts cash flows for each of its reporting units and takes into consideration economic conditions and trends, estimated future operating results, management's and a market participant's view of growth rates and product lives, and anticipates future economic conditions. Revenue growth rates inherent in these forecasts were based on input from internal and external market research that compare factors such as growth in global economies, recent industry trends and product life-cycles. Macroeconomic factors such as changes in economies, changes in the competitive landscape including the unexpected loss of exclusivity to the Company's product portfolio, changes in government legislation, product life-cycles, industry consolidations and other changes beyond the Company’s control could have a positive or negative impact on achieving its targets. Accordingly, if market conditions deteriorate, or if the Company is unable to execute its strategies, it may be necessary to record impairment charges in the future. 2016 Prior to the change in operating segments in the third quarter of 2016, the Company operated in two operating and reportable segments: Developed Markets and Emerging Markets. The Developed Markets segment consisted of four geographic reporting units: (i) U.S., (ii) Canada and Australia, (iii) Western Europe and (iv) Japan. The Emerging Markets segment consisted of three geographic reporting units: (i) Central and Eastern Europe, Middle East and Africa, (ii) Latin America and (iii) Asia. The Company conducted its annual goodwill impairment test as of October 1, 2015 which resulted in no goodwill impairment under the then-current organizational structure. March 31, 2016 Given challenges facing the Company, particularly in its dermatology and gastrointestinal businesses, management performed a review of its then-current forecast under the direction of the new Chief Executive Officer (“CEO”). As a result of that review, management lowered its forecast which resulted in a triggering event requiring the Company to test goodwill for impairment as of March 31, 2016. Although management lowered its forecast, which lowered the estimated fair values of certain business units, including the former U.S. reporting unit, the step one testing determined there was no impairment of goodwill as the estimated fair value of each reporting unit exceeded its carrying value. In order to evaluate the sensitivity of its fair value calculations on the goodwill impairment test, the Company applied a hypothetical 15% decrease in the fair value of each reporting unit as of March 31, 2016. For each reporting unit, this hypothetical 15% decrease in fair value would not have triggered additional impairment testing as the hypothetical fair value exceeded the carrying value of the respective reporting unit. 2016 Realignment of Segment Structure Commencing in the third quarter of 2016, the Company operates in three operating segments: (i) Bausch + Lomb/International, (ii) Branded Rx and (iii) U.S. Diversified Products. This 2016 segment structure realignment resulted in the Bausch + Lomb/International segment consisting of the following reporting units: (i) U.S. Bausch + Lomb and (ii) International; the Branded Rx segment consisting of the following reporting units: (i) Salix, (ii) Dermatology, (iii) Canada and (iv) Branded Rx Other; and the U.S. Diversified Products segment consisting of the following reporting units: (i) Neurology and other and (ii) Generics. As a result of these changes, goodwill was reassigned to each of the aforementioned reporting units using a relative fair value approach. Goodwill previously reported in the former U.S. reporting unit, after adjustment of impairment as described below, was reassigned, using a relative fair value approach, to the U.S. Bausch + Lomb, Salix, Dermatology, Branded Rx Other, Neurology and other, and Generics reporting units. Similarly, goodwill previously reported in the former Canada and Australia reporting unit was reassigned to the Canada and the International reporting units using a relative fair value approach. Goodwill previously reported in the remaining former reporting units was reassigned to the International reporting unit. In the third quarter of 2016, goodwill impairment testing was performed under the former reporting unit structure immediately prior to the change and under the current reporting unit structure immediately subsequent to the change. Using the forecasts and assumptions at the time, the Company estimated the fair value of each reporting unit using a discounted cash flow analysis. As a result of its test, the Company determined that goodwill associated with the former U.S. reporting unit and the goodwill associated with the Salix reporting unit under the current reporting unit structure were impaired. Consequently, in the aggregate, goodwill impairment charges of $1,077 million were recognized as follows: • Under the former reporting unit structure, the fair value of each reporting unit exceeded its carrying value by more than 15% , except for the former U.S. reporting unit whose carrying value exceeded its fair value by 2% . As a result, the Company proceeded to perform step two of the goodwill impairment test for the former U.S. reporting unit and determined that the carrying value of the unit's goodwill exceeded its implied fair value. However, as the estimate of fair value is complex and requires significant amounts of time and judgment, the Company could not complete step two of the testing prior to the release of its financial statements for the period ended September 30, 2016. Under these circumstances, accounting guidance requires that a company recognize an estimated impairment charge if management determines that it is probable that an impairment loss has occurred and such impairment can be reasonably estimated. Using its best estimate, the Company recorded an initial goodwill impairment charge of $838 million as of September 30, 2016. In the fourth quarter of 2016, step two testing was completed and the Company concluded that the excess of the carrying value of the former U.S. reporting unit's unadjusted goodwill over its implied value as of September 30, 2016 was $905 million and recognized an incremental goodwill impairment charge of $67 million for the fourth quarter of 2016. The goodwill impairment was primarily driven by changes to the Company's forecasted performance which resulted in a lower fair value of the U.S. businesses, mainly the Salix business. • Under the current reporting unit structure, the carrying value of the Salix reporting unit exceeded its fair value, as updates to the unit's forecast resulted in a lower estimated fair value for the business. As a result, the Company proceeded to perform step two of the goodwill impairment test for the Salix reporting unit and determined that the carrying value of the unit's goodwill exceeded its implied fair value. However, the Company could not complete step two of the testing prior to the release of its financial statements for the period ended September 30, 2016. Using its best estimate, the Company recorded an initial goodwill impairment charge of $211 million as of September 30, 2016. In the fourth quarter of 2016, step two testing was completed and the Company concluded that the excess of the carrying value of the Salix reporting unit's unadjusted goodwill over its implied value as of September 30, 2016 was $172 million and recognized a credit to the initial goodwill impairment charge of $39 million for the fourth quarter of 2016. As of the date of testing, the Salix reporting unit had a carrying value of $14,066 million , an estimated fair value of $10,409 million and goodwill with a carrying value of $5,128 million . In order to evaluate the sensitivity of its fair value calculations on the goodwill impairment test, the Company compared the carrying value of each reporting unit to its fair value as of August 31, 2016, the date of testing. The fair value of each reporting unit exceeded its carrying value by more than 15% , except for the Salix reporting unit as previously discussed and the U.S. Branded Rx reporting unit. As of the date of testing, goodwill of the U.S. Branded Rx reporting unit was $897 million and the estimated fair value of the unit exceeded its carrying value by approximately 5% . 2016 Annual Goodwill Impairment Test The Company conducted its annual goodwill impairment test as of October 1, 2016 and determined that the carrying value of the Salix reporting unit exceeded its fair value and, as a result, the Company proceeded to perform step two of the goodwill impairment test for the Salix reporting unit. After completing step two of the impairment testing, the Company determined that the carrying value of the unit's goodwill did not exceed its implied fair value and, therefore, no impairment was identified to the goodwill of the Salix reporting unit. At the date of testing, the Salix reporting unit had a carrying value of $14,087 million , an estimated fair value of $10,319 million and goodwill with a carrying value of $5,128 million . The Company's remaining reporting units passed step one of the goodwill impairment test as the estimated fair value of each reporting unit exceeded its carrying value at the date of testing and, therefore, impairment to goodwill was $0 . The Company determined that no events occurred or circumstances changed during the period of October 1, 2016 through December 31, 2016 that would indicate that the fair value of a reporting unit may be below its carrying amount, except for the Salix reporting unit. During the period of October 1, 2016 through December 31, 2016, there were no changes in the facts and circumstances which would suggest that goodwill of the Salix reporting unit was further impaired. In order to evaluate the sensitivity of its fair value calculations on the goodwill impairment test, the Company compared the carrying value of each reporting unit to its fair value as of October 1, 2016, the date of testing. The fair value of each reporting unit exceeded its carrying value by more than 15% , except for the Salix reporting unit, as previously discussed and the U.S. Branded Rx reporting unit. 2017 2017 Realignment of Segment Structure As detailed in Note 2, "SIGNIFICANT ACCOUNTING POLICIES" , the revenues and profits from the Company's operations in Canada were reclassified. In connection with this change, the prior-period presentation of segment goodwill has been recast to conform to the current reporting structure, of which $264 million of goodwill as of December 31, 2016 was reclassified from the Branded Rx segment to the Bausch + Lomb/International segment. No facts or circumstances were identified in connection with this change in alignment that would suggest an impairment exists. As detailed in Note 4, "DIVESTITURES" , the Sprout business was classified as held for sale as of September 30, 2017. As the Sprout business represented only a portion of a Branded Rx reporting unit, the Company assessed the remaining reporting unit for impairment and determined the carrying value of the remaining reporting unit exceeded its fair value. After completing step two of the impairment testing, the Company determined and recorded a goodwill impairment charge of $312 million during the three months ended September 30, 2017. 2017 Interim Goodwill Impairment Assessments As the facts and circumstances had not materially changed since the October 1, 2016 impairment test, management concluded that the carrying value of the Salix reporting unit continued to be in excess of its fair value. Therefore, during the three months ended March 31, 2017, June 30, 2017 and September 30, 2017, the Company performed qualitative assessments of the Salix reporting unit goodwill to determine if testing was warranted. As part of its qualitative assessments, management compared the reporting unit’s operating results to its original forecasts. Although Salix reporting unit revenue during the three months ended March 31, 2017, June 30, 2017 and September 30, 2017 declined as compared to the three months ended December 31, 2016, each decrease was within management's expectations. Further, the latest forecast for the Salix reporting unit is not materially different than the forecast used in management's October 1, 2016 testing and the difference in the forecasts would not change the conclusion of the Company’s goodwill impairment testing as of October 1, 2016. As part of these qualitative assessments, the Company also considered the sensitivity of its conclusions as they relate to changes in the estimates and assumptions used in the latest forecast available for each period. Based on its qualitative assessments, management believes that the carrying value of the Salix reporting unit goodwill does not exceed its implied fair value and that testing the Salix reporting unit goodwill for impairment was not required based on the current facts and circumstances. 2017 Annual Goodwill Impairment Test The Company conducted its annual goodwill impairment test as of October 1, 2017 and determined that the carrying value of the Salix reporting unit exceeded its fair value and, as a result, the Company proceeded to perform step two of the goodwill impairment test for the Salix reporting unit. After completing step two of the impairment testing, the Company determined that the carrying value of the unit's goodwill did not exceed its implied fair value and, therefore, no impairment was identified to the goodwill of the Salix reporting unit. As of the date of testing, the Salix reporting unit had an estimated fair value of $10,660 million and a carrying value of $13,404 million , including goodwill of $5,127 million . The Company's remaining reporting units passed step one of the goodwill impairment test as the estimated fair value of each reporting unit exceeded its carrying value at the date of testing and, therefore, there was no impairment to goodwill. In order to evaluate the sensitivity of its fair value calculations on the goodwill impairment test, the Company compared the carrying value of each reporting unit to its fair value as of October 1, 2017, the date of testing. The fair value of each reporting unit exceeded its carrying value by more than 15% , except for the Salix reporting unit. Subsequent to the annual impairment test, the Company considered events occurring after October 1 st to determine if further testing was required. The Company considered the impact of the changes in the Tax Act on its reporting units, including the impact on the carrying value, for changes in deferred tax assets and liabilities, and changes in assumptions related to the tax rate when assessing the fair value. The Company concluded that the fair value continues to exceed the carrying value for all reporting units, except Salix, after considering the impact of the changes in the Tax Act. Further, the step 2 impairment test for Salix continued to support the implied fair value of goodwill. As a result, no additional impairment charges were recorded. In January 2017, the FASB issued guidance which simplifies the subsequent measurement of goodwill by eliminating “Step 2” from the goodwill impairment test. Instead, goodwill impairment will be measured as the amount by which a reporting unit's carrying value exceeds its fair value. The FASB also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. The guidance is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods, with early adoption permitted. The Company may elect to adopt this standard effective the first quarter of 2018. Once adopted, this guidance is expected to have a significant impact on the Company’s financial position, results of operations, and disclosures with respect to the Salix reporting unit. Total accumulated goodwill impairment charges to date are $1,389 million .

ACCRUED AND OTHER CURRENT LIABI

ACCRUED AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2017
Payables and Accruals [Abstract]
ACCRUED AND OTHER CURRENT LIABILITIES	ACCRUED AND OTHER CURRENT LIABILITIES Accrued and other current liabilities as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Product rebates $ 1,094 $ 897 Product returns 863 708 Interest 324 337 Employee compensation and benefit costs 259 198 Income taxes payable 202 213 Legal liabilities assumed in the Salix Acquisition 47 281 Other 905 593 $ 3,694 $ 3,227

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS Principal amounts of debt obligations and principal amounts of debt obligations net of discounts and issuance costs as of December 31, 2017 and 2016 consists of the following: 2017 2016 (in millions) Maturity Principal Amount Net of Discounts and Issuance Costs Principal Amount Net of Discounts and Issuance Costs Senior Secured Credit Facilities: Revolving Credit Facility April 2018 $ — $ — $ 875 $ 875 Revolving Credit Facility April 2020 250 250 — — Series A-3 Tranche A Term Loan Facility October 2018 — — 1,032 1,016 Series A-4 Tranche A Term Loan Facility April 2020 — — 668 658 Series D-2 Tranche B Term Loan Facility February 2019 — — 1,068 1,048 Series C-2 Tranche B Term Loan Facility December 2019 — — 823 805 Series E-1 Tranche B Term Loan Facility August 2020 — — 2,456 2,429 Series F Tranche B Term Loan Facility April 2022 3,521 3,420 3,892 3,815 Senior Secured Notes: 6.50% Secured Notes March 2022 1,250 1,235 — — 7.00% Secured Notes March 2024 2,000 1,975 — — 5.50% Secured Notes November 2025 1,750 1,729 — — Senior Unsecured Notes: 6.75% August 2018 — — 1,600 1,593 5.375% March 2020 1,708 1,699 2,000 1,985 7.00% October 2020 71 71 690 689 6.375% October 2020 661 656 2,250 2,231 7.50% July 2021 1,625 1,615 1,625 1,613 6.75% August 2021 650 648 650 647 5.625% December 2021 900 896 900 894 7.25% July 2022 550 545 550 543 5.50% March 2023 1,000 993 1,000 992 5.875% May 2023 3,250 3,224 3,250 3,220 4.50% euro-denominated debt May 2023 1,801 1,787 1,578 1,563 6.125% April 2025 3,250 3,222 3,250 3,218 9.00% December 2025 1,500 1,464 — — Other Various 15 15 12 12 Total long-term debt and other $ 25,752 25,444 $ 30,169 29,846 Less: Current portion of long-term debt and other 209 1 Non-current portion of long-term debt $ 25,235 $ 29,845 Covenant Compliance The Senior Secured Credit Facilities (as defined below) and the indentures governing the Company’s Senior Secured Notes and Senior Unsecured Notes contain customary affirmative and negative covenants and specified events of default. These affirmative and negative covenants include, among other things, and subject to certain qualifications and exceptions, covenants that restrict the Company’s ability and the ability of its subsidiaries to: incur or guarantee additional indebtedness; create or permit liens on assets; pay dividends on capital stock or redeem, repurchase or retire capital stock or subordinated indebtedness; make certain investments and other restricted payments; engage in mergers, acquisitions, consolidations and amalgamations; transfer and sell certain assets; and engage in transactions with affiliates. The Revolving Credit Facility also contains specified financial maintenance covenants (consisting of a secured leverage ratio and an interest coverage ratio). In 2017 , the Company completed several actions which included using the proceeds from divestitures and cash flows from operations to repay debt, amending financial maintenance covenants, extending a significant portion of the Revolving Credit Facility, and refinancing debt with near term maturities. These actions, described below, have reduced the Company’s debt balance and positively affected the Company’s ability to comply with its financial maintenance covenants. As of December 31, 2017 , the Company was in compliance with all financial maintenance covenants related to its outstanding debt. The Company, based on its current forecast for the next twelve months from the date of issuance of these financial statements and the amendments executed, expects to remain in compliance with these financial maintenance covenants and meet its debt service obligations over that same period. The Company continues to take steps to improve its operating results to ensure continual compliance with its financial maintenance covenants and may take other actions to reduce its debt levels to align with the Company’s long term strategy, including divesting other businesses and refinancing debt as deemed appropriate. Senior Secured Credit Facilities On February 13, 2012, the Company and certain of its subsidiaries as guarantors entered into the “Senior Secured Credit Facilities” under the Company’s Third Amended and Restated Credit and Guaranty Agreement, as amended (the “Credit Agreement”) with a syndicate of financial institutions and investors. 2015 Activity On January 22, 2015, the Company and certain of its subsidiaries, as guarantors, entered into joinder agreements to allow for an increase in commitments under the Revolving Credit Facility to $1,500 million and the issuance of $250 million in incremental term loans under the Series A-3 Tranche A Term Loan Facility. On March 5, 2015, the Company entered into an amendment to the Credit Agreement to implement certain revisions in connection with the Salix Acquisition. The amendment, among other things, permitted the Salix Acquisition and the refinancing, repayment, termination and discharge of Salix's outstanding indebtedness, as well as the issuance of Senior Unsecured Notes to be used to fund the Salix Acquisition (as described below). The amendment also modified the interest coverage ratio financial maintenance covenant applicable to the Company through March 31, 2016. Concurrently with the Salix Acquisition on April 1, 2015, the Company obtained incremental term loan commitments in the aggregate principal amount of $5,150 million (the "Incremental Term Loan Facilities") under its existing Credit Agreement. The Incremental Term Loan Facilities, which were fully drawn in the second quarter of 2015, consisted of: (1) $1,000 million of tranche A term loans (the "Series A-4 Tranche A Term Loan Facility"), bearing interest at a rate per annum equal to, at the election of the Company, (i) the base rate plus a range between 0.75% and 1.25% or (ii) LIBO rate plus a range between 1.75% and 2.25% , in each case, depending on the Company's leverage ratio and having terms that are consistent with the Company's existing tranche A term loans and (2) $4,150 million of tranche B term loans (the "Series F Tranche B Term Loan Facility"), bearing interest at a rate per annum equal to, at election of the Company, (i) the base rate plus a range between 2.00% and 2.25% or (ii) LIBO rate plus a range between 3.00% and 3.25% , depending on the Company's secured leverage ratio and subject to a 1.75% base rate floor and 0.75% LIBO rate floor, and having terms that are consistent with the Company's existing tranche B term loans. In connection with the issuance of the Incremental Term Loan Facilities, the Company incurred a total of approximately $85 million of costs and fees (treated as a deduction to Long-term debt), including an original issue discount of approximately $21 million . The Series A-4 Tranche A Term Loan Facility was payable in quarterly installments at the rate of 5% per annum through March 31, 2016, then at the rate of 10% per annum through March 31, 2017, then at the rate of 20% per annum through maturity on April 1, 2020. The Series F Tranche B Term Loan Facility was payable in quarterly installments at the rate of 1% per annum through maturity on April 1, 2022. On May 29, 2015, the Company and certain of its subsidiaries, as guarantors, entered into Amendment No. 11 to the Credit Agreement to reprice the Series D-2 Tranche B Term Loan Facility. The applicable margins for borrowings under the Series D-2 Tranche B Term Loan Facility, as modified by the repricing, were initially 1.75% with respect to base rate borrowings and 2.75% with respect to LIBO rate borrowings. Then, commencing with the delivery of the financial statements of the Company for the fiscal quarter ending September 30, 2015, such margins were changed to between 1.50% and 1.75% for base rate borrowings and between 2.50% and 2.75% for LIBO rate borrowings, in each case, based on the secured leverage ratio of the Company for each fiscal quarter for which financial statements were delivered as required under the Credit Agreement, subject to a 1.75% base rate floor and a 0.75% LIBO rate floor. Costs and fees incurred in connection with the repricing of the Series D-2 Tranche B Term Loan Facility were nominal . 2016 Activity On April 11, 2016, the Company obtained an amendment and waiver to its Credit Agreement (the “April 2016 amendment”). Pursuant to the April 2016 amendment, the Company obtained an extension to the deadline for filing: (i) the Company's Annual Report on Form 10-K for the year ended December 31, 2015 (the “2015 Form 10-K”) to May 31, 2016 and (ii) the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 (the “March 31, 2016 Form 10-Q”) to July 31, 2016. The April 2016 amendment also waived, among other things, the cross-default under the Credit Agreement to the Company's and Valeant's indentures that arose when the 2015 Form 10-K was not filed by March 15, 2016, any cross default under the Credit Agreement that may have arisen under the Company's other indebtedness from the failure to timely deliver the 2015 Form 10-K, and the cross default under the Credit Agreement to the Company's and Valeant's indentures that arose when the March 31, 2016 Form 10-Q was not filed by May 16, 2016 or any cross default under the Credit Agreement to the Company’s other indebtedness as a result of the delay in filing the March 31, 2016 Form 10-Q. The April 2016 amendment modified, among other things, the interest coverage financial maintenance covenant from 3.00 to 1.00 to 2.75 to 1.00 from the fiscal quarter ending June 30, 2016 through the fiscal quarter ending March 31, 2017. Certain financial definitions were also amended, including the definition of “Consolidated Adjusted EBITDA” which was modified to add back fees and expenses in connection with any amendment or modification of the Credit Agreement or any other indebtedness, and to permit up to $175 million to be added back in connection with costs, fees and expenses relating to, among other things, Philidor-related matters and/or product pricing-related matters and any review by the Board and the Company’s ad hoc committee of independent directors related to such matters. The April 2016 amendment also modified certain existing add-backs to Consolidated Adjusted EBITDA under the Credit Agreement, including increasing the add-back for: (i) restructuring charges in any twelve-month period to $200 million from $125 million and (ii) fees and expenses in connection with any proposed or actual issuance of debt, equity, acquisitions, investments, assets sales or divestitures to $150 million from $75 million for any twelve month period ending on or prior to March 31, 2017. The terms of the April 2016 amendment imposed a number of restrictions on the Company and its subsidiaries until the time that: (i) the Company delivered the 2015 Form 10-K (which was filed on April 29, 2016) and the March 31, 2016 Form 10-Q (which was filed on June 7, 2016) (such requirements, the "Financial Reporting Requirements") and (ii) the leverage ratio of the Company and its subsidiaries (being the ratio, as of the last day of any fiscal quarter, of Consolidated Total Debt (as defined in the Credit Agreement) as of such day to Consolidated Adjusted EBITDA (as defined in the Credit Agreement) for the four fiscal quarter period ending on such date) is less than 4.50 to 1.00 , including imposing: (i) a $250 million aggregate cap (the "Transaction Cap") on acquisitions (although the Transaction Cap does not apply to any portion of acquisition consideration paid for by either the issuance of the Company’s equity or the proceeds of any such equity issuance), (ii) a restriction on the incurrence of debt to finance such acquisitions and (iii) a requirement that the net proceeds from certain asset sales be used to repay the term loans under the Credit Agreement, instead of investing such net proceeds in real estate, equipment, other tangible assets or intellectual property useful in the business. In addition, the Company's ability to make investments, dividends, distributions, share repurchases and other restricted payments is also restricted and subject to the Transaction Cap until such time as the Financial Reporting Requirements are satisfied and the leverage ratio of the Company and its subsidiaries is less than 4.00 to 1.00 (unless such investments or restricted payments can fit within other existing exceptions set out in the Credit Agreement). The April 2016 amendment also increased the interest rate margins applicable to the Company's loans under the Credit Agreement by 1.00% until delivery of the Company's financial statements for the fiscal quarter ending June 30, 2017. Thereafter, the interest rate margins applicable to the loans have been determined on the basis of a pricing grid tied to the Company's secured leverage ratio. With the filing of the March 31, 2016 Form 10-Q on June 7, 2016, the Financial Reporting Requirements were satisfied in all respects. The April 2016 amendment was accounted for as a debt modification. As a result, repayments to the lenders were recognized as additional debt discounts and are being amortized over the remaining term of each term loan. On August 23, 2016, the Company entered into an amendment to its Credit Agreement (the “August 2016 amendment”). The August 2016 amendment reduced the minimum interest coverage maintenance covenant under the Credit Agreement to 2.00 to 1.00 for all fiscal quarters ending on or after September 30, 2016. Prior to the effectiveness of the August 2016 amendment, the minimum interest coverage maintenance covenant was 2.75 to 1.00 for any fiscal quarter ending June 30, 2016 through March 31, 2017 and 3.00 to 1.00 for any fiscal quarter ending thereafter. In addition, the August 2016 amendment permitted the issuance of secured notes with shorter maturities and the incurrence of other indebtedness, in each case to repay term loans under the Credit Agreement. The August 2016 amendment also provided additional flexibility to sell assets, provided the proceeds of such asset sales are used to prepay loans under the Credit Agreement in accordance with its terms. The August 2016 amendment increased each of the applicable interest rate margins under the Credit Agreement by 0.50% , until delivery of the Company’s financial statements for the quarter ending June 30, 2017. Thereafter, each of the applicable interest rate margins have been determined on the basis of a pricing grid tied to the Company’s secured leverage ratio, which was also increased by 0.50% across the grid. The August 2016 amendment was accounted for as a debt modification. As a result, repayments to the lenders were recognized as additional debt discounts and are being amortized over the remaining term of each term loan. 2017 Activity On March 3, 2017, the Company used proceeds from the Skincare Sale to repay $1,086 million of outstanding debt under its Senior Secured Credit Facilities. On March 21, 2017, the Company entered into Amendment No. 14 to the Credit Agreement (“Amendment No. 14”), which: (i) provided additional financing from an incremental term loan under the Company's Series F Tranche B Term Loan Facility of $3,060 million (the “Series F-3 Tranche B Term Loan”), (ii) amended the financial covenants contained in the Credit Agreement, (iii) increased the amortization rate for the Series F Tranche B Term Loan Facility from 0.25% per quarter ( 1% per annum) to 1.25% per quarter ( 5% per annum), with quarterly repayments starting March 31, 2017, (iv) amended certain financial definitions, including the definition of Consolidated Adjusted EBITDA and (v) provided additional ability for the Company to, among other things, incur indebtedness and liens, consummate acquisitions and make other investments, including relaxing certain limitations imposed by prior amendments. The proceeds from the additional financing, combined with the proceeds from the issuance of the Senior Secured Notes described below and cash on hand, were used to: (i) repay all outstanding balances under the Company’s Series A-3 Tranche A Term Loan Facility, Series A-4 Tranche A Term Loan Facility, Series D-2 Tranche B Term Loan Facility, Series C-2 Tranche B Term Loan Facility, and Series E-1 Tranche B Term Loan Facility (collectively the “Refinanced Debt”), (ii) repurchase $1,100 million in principal amount of 6.75% Senior Unsecured Notes due August 2018 (the “ August 2018 Unsecured Notes ”), (iii) repay $350 million of amounts outstanding under the Company's Revolving Credit Facility and (iv) pay related fees and expenses (collectively, the “March 2017 Refinancing Transactions”). Amendments to the covenants made as part of Amendment No. 14 include: (i) removed the financial maintenance covenants with respect to the Series F Tranche B Term Loan Facility, (ii) reduced the interest coverage ratio maintenance covenant to 1.50 :1.00 with respect to the Revolving Credit Facility beginning in the quarter ending March 31, 2017 through the quarter ending March 31, 2019 (stepping up to 1.75 :1.00 thereafter) and (iii) increased the secured leverage ratio maintenance covenant to 3.00 :1.00 with respect to the Revolving Credit Facility beginning in the quarter ending March 31, 2017 through the quarter ending March 31, 2019 (stepping down to 2.75 :1.00 thereafter). These financial maintenance covenants apply only with respect to the Revolving Credit Facility and can be waived or amended without the consent of the term loan lenders under the Credit Agreement. Modifications to Consolidated Adjusted EBITDA from Amendment No. 14 included, among other things: (i) modifications to permit the Company to add back extraordinary, unusual or non-recurring expenses or charges (including certain costs of, and payments of, litigation expenses, actual or prospective legal settlements, fines, judgments or orders, subject to a cap of $500 million in any twelve month period, of which no more than $250 million may pertain to any costs, payments, expenses, settlements, fines, judgments or orders, in each case, arising out of any actual or potential claim, investigation, litigation or other proceeding that the Company did not publicly disclose (via press release or any filing with the SEC) on or prior to the effectiveness of Amendment No. 14, and subject to other customary limitations) and (ii) modifications to allow the Company to add back certain expenses, charges or losses actually reimbursed or for which the Company reasonably expects to be reimbursed by third parties pursuant to indemnification, reimbursement, insurance or similar agreements within 365 days, subject to customary limitations. Amendment No. 14 was accounted for as a modification of debt to the extent the Refinanced Debt was replaced with the incremental Series F-3 Tranche B Term Loan issued to the same creditor and an extinguishment of debt to the extent the Refinanced Debt was replaced with Series F-3 Tranche B Term Loan issued to a different creditor. The Refinanced Debt that was replaced with the proceeds of the newly issued Senior Secured Notes was accounted for as an extinguishment of debt. For amounts accounted for as an extinguishment of debt, the Company incurred a Loss on extinguishment of debt of $27 million representing the difference between the amount paid to settle the extinguished debt and the extinguished debt’s carrying value (the stated principal amount net of unamortized discount and debt issuance costs). Payments made to the lenders of $38 million associated with the issuance of the new Series F-3 Tranche B Term Loan were capitalized and are being amortized as interest expense over the remaining term of the Series F Tranche B Term Loan Facility. Third party expenses of $3 million associated with the modification of debt were expensed as incurred and included in Interest expense. On March 28, 2017, the Company entered into Amendment No. 15 to the Credit Agreement (“Amendment No. 15”) which provided for the extension of the maturity date of $1,190 million of revolving credit commitments under the Revolving Credit Facility from April 20, 2018 to the earlier of: (i) April 20, 2020 and (ii) the date that is 91 calendar days prior to the scheduled maturity of any series or tranche of term loans under the Credit Agreement, certain Senior Secured Notes or Senior Unsecured Notes and any other indebtedness for borrowed money in excess of $750 million . Unless otherwise terminated prior thereto, the remaining $310 million of revolving credit commitments under the Revolving Credit Facility will continue to mature on April 20, 2018. Amendment No. 15 was accounted for in part as a debt modification, whereby the fees paid to lenders agreeing to extend their commitment through April 20, 2020 and the fees paid to lenders providing additional commitments were recognized as additional debt issuance costs and are being amortized over the remaining term of the Revolving Credit Facility. Amendment No. 15 was accounted for in part as an extinguishment of debt and the Company incurred a Loss on extinguishment of debt of $1 million representing the unamortized debt issuance costs associated with the commitments canceled by lenders in the amendment. In April 2017, using the net proceeds from the Skincare Sale and the proceeds from the divestiture of a manufacturing facility in Brazil, the Company repaid $220 million of its Series F Tranche B Term Loan Facility. On July 3, 2017, using the net proceeds from the Dendreon Sale, the Company repaid $811 million of its Series F Tranche B Term Loan Facility. On October 5, 2017 , using the net proceeds from the iNova Sale, the Company repaid $923 million of its Series F Tranche B Term Loan Facility. On November 10, 2017 , using the net proceeds from the Obagi Sale, the Company repaid $181 million of its Series F Tranche B Term Loan Facility. On November 21, 2017 , using the proceeds from the November 2017 Refinancing Transactions (as defined below), the Company repaid $750 million of its Series F Tranche B Term Loan Facility. On November 21, 2017, the Company entered into Amendment No. 16 to the Credit Agreement (“Amendment No. 16”) to reprice the Series F Tranche B Term Loan Facility. The applicable margins for borrowings under the Series F Tranche B Term Loan Facility, as modified by the repricing, are 2.50% with respect to base rate borrowings and 3.50% with respect to LIBO rate borrowings. Any prepayment of the Series F Tranche B Term Loan Facility in connection with certain refinancings prior to May 21, 2018 will require a prepayment premium of 1.0% of such loans prepaid. Amendment No. 16 also increases the letter of credit facility sublimit under the Credit Agreement to $300 million and makes certain other amendments to provide the Company with additional flexibility to enter into certain cash management transactions. The Company paid a prepayment penalty of approximately $38 million in connection with Amendment No. 16, recognized in the Loss on extinguishment of debt in the consolidated statement of operations. As of December 31, 2017 , the Company had $250 million of outstanding borrowings, $94 million of issued and outstanding letters of credit, and remaining availability of $1,156 million under its Revolving Credit Facility. Of the $94 million issued and outstanding letters of credit, a $50 million letter of credit was issued as part of the $127 million of collateral to secure a bank guarantee for the benefit of the Australian Government in connection with the notice of assessment received on August 8, 2017 from the Australian Taxation Office, as discussed in Note 18, "INCOME TAXES" . The Company disagrees with the notice of assessment and continues to believe that its tax positions are appropriate and supported by the facts, circumstances and applicable laws. The Company intends to defend its tax position in this matter vigorously. On January 9, 2018, the cash collateral of $77 million of Restricted cash was returned to the Company in exchange for a $77 million letter of credit. Current Description of Senior Secured Credit Facilities Borrowings under the Senior Secured Credit Facilities bear interest at a rate per annum equal to, at the Company's option from time to time, either: (i) a base rate determined by reference to the higher of: (a) the prime rate (as defined in the Credit Agreement) and (b) the federal funds effective rate plus 1/2 of 1% or (ii) a LIBO rate determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs, in each case plus an applicable margin. With respect to the Revolving Credit Facility, these applicable margins have been subject to increase or decrease quarterly based on the secured leverage ratio beginning with the quarter ended June 30, 2017. Based on its calculation of the Company’s secured leverage ratio, management does not anticipate any such increase or decrease to the current applicable margins for the next applicable period. The loans under the Senior Secured Credit Facilities may be made to, and the letters of credit under the Revolving Credit Facility may be issued on behalf of, the Company. All borrowings under the Senior Secured Credit Facilities are subject to the satisfaction of customary conditions, including the absence of a default or an event of default and the accuracy in all material respects of representations and warranties. Subject to certain exceptions and customary baskets set forth in the Credit Agreement, the Company is required to make mandatory prepayments of the loans under the Senior Secured Credit Facilities under certain circumstances, including from: (a) 100% of the net cash proceeds of insurance and condemnation proceeds for property or asset losses (subject to reinvestment rights and net proceeds threshold), (b) 50% of the net cash proceeds from the issuance of equity securities subject to decrease based on leverage ratios, (c) 100% of the net cash proceeds from the incurrence of debt (other than permitted debt as defined in the Credit Agreement), (d) 50% of Consolidated Excess Cash Flow (as defined in the Credit Agreement) subject to decrease based on leverage ratios and (e) 100% of net cash proceeds from asset sales outside the ordinary course of business (subject to reinvestment rights, which were restricted by the terms of the April 2016 amendment). The Company is permitted to voluntarily reduce the unutilized portion of the revolving commitment amount and repay outstanding loans under the Revolving Credit Facility at any time without premium or penalty, other than customary “breakage” costs with respect to LIBO rate loans. As of December 31, 2017, any prepayment of the Series F Tranche B Term Loan Facility in connection with certain refinancings prior to May 21, 2018 will require a prepayment premium of 1.0% of such loans prepaid. The Company’s obligations and the obligations of the guarantors under the Senior Secured Credit Facilities and cash management arrangements entered into with lenders under the Senior Secured Credit Facilities (or affiliates thereof) are secured by first-priority security interests in substantially all tangible and intangible assets of the Company and the guarantors, including 100% of the capital stock of Valeant and each material subsidiary of the Company that is directly owned by the Company or another guarantor other than Valeant’s foreign subsidiaries) and 65% of the capital stock of each foreign subsidiary of Valeant that is directly owned by Valeant or owned by a guarantor that is a domestic subsidiary of Valeant, in each case subject to certain exclusions and limitations set forth in the credit documentation governing the Senior Secured Credit Facilities. The applicable interest rate margins for borrowings under the Revolving Credit Facility are 2.25% - 2.75% with respect to base rate borrowings and 3.25% - 3.75% with respect to LIBO rate borrowings. As of December 31, 2017 , the stated rate of interest on the Revolving Credit Facility was 5.32% per annum. In addition, the Company is required to pay commitment fees of 0.50% per annum with respect to the unutilized commitments under the Revolving Credit Facility, payable quarterly in arrears. The Company also is required to pay: (i) letter of credit fees on the maximum amount available to be drawn under all outstanding letters of credit in an amount equal to the applicable margin on LIBO rate borrowings under the Revolving Credit Facility on a per annum basis, payable quarterly in arrears, (ii) customary fronting fees for the issuance of letters of credit and (iii) agency fees. The applicable interest rate margins for the Series F Tranche B Term Loan Facility are 2.50% with respect to base rate borrowings and 3.50% with respect to LIBO rate borrowings, subject to a 0.75% LIBO rate floor. As of December 31, 2017 , the stated rate of interest on the Company’s borrowings under the Series F Tranche B Term Loan Facility was 4.94% per annum. As of December 31, 2017 , there were no remaining quarterly amortization repayments for the Senior Secured Credit Facilities. Senior Secured Notes The Senior Secured Notes are guaranteed by each of the Company’s subsidiaries that is a guarantor under the Credit Agreement and existing Senior Unsecured Notes (together, the “Note Guarantors”). The Senior Secured Notes and the guarantees related thereto are senior obligations and are secured, subject to permitted liens and certain other exceptions, by the same first priority liens that secure the Company’s obligations under the Credit Agreement under the terms of the indenture governing the Senior Secured Notes. The Senior Secured Notes and the guarantees rank equally in right of repayment with all of the Company’s and Note Guarantors’ respective existing and future unsubordinated indebtedness and senior to the Company’s and Note Guarantors’ respective future subordinated indebtedness. The Senior Secured Notes and the guarantees related thereto are effectively pari passu with the Company’s and the Note Guarantors’ respective existing and future indebtedness secured by a first priority lien on the collateral securing the Senior Secured Notes and effectively senior to the Company’s and the Note Guarantors’ respective existing and future indebtedness that is unsecured, including the existing Senior Unsecured Notes, or that is secured by junior liens, in each case to the extent of the value of the collateral. In addition, the Senior Secured Notes are structurally subordinated to: (i) all liabilities of any of the Company’s subsidiaries that do not guarantee the Senior Secured Notes and (ii) any of the Company’s debt that is secured by assets that are not collateral. Upon the occurrence of a change in control (as defined in the indentures governing the Senior Secured Notes), unless the Company has exercised its right to redeem all of the notes of a series as previously described, holders of the Senior Secured Notes may require the Company to repurchase such holder’s notes, in whole or in part, at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest. 6.50% Senior Secured Notes due 2022 and 7.00% Senior Secured Notes due 2024 - March 2017 Refinancing Transactions As part of the March 2017 Refinancing Transactions, the Company issued $1,250 million aggregate principal amount of 6.50% Senior Secured Notes due March 15, 2022 (the “ March 2022 Secured Notes ”) and $2,000 million aggregate principal amount of 7.00% Senior Secured Notes due March 15, 2024 (the “ March 2024 Secured Notes ”), in a private placement, the proceeds of which, when combined with the proceeds from the Series F-3 Tranche B Term Loan and cash on hand, were used to: (i) repay the Refinanced Debt, (ii) repurchase $1,100 million in principal amount of August 2018 Unsecured Notes, (iii) repay $350 million of amounts outstanding under the Company's Revolving Credit Facility and (iv) pay related fees and expenses. Interest on these notes is payable semi-annually in arrears on each March 15 and September 15. The March 2022 Secured Notes are redeemable at the option of the Company, in whole or in part, at any time on or after March 15, 2019, at the redemption prices set forth in the indenture. The Company may redeem some or all of the March 2022 Secured Notes prior to March 15, 2019 at a price equal to 100% of the principal amount thereof plus a “make-whole” premium. Prior to March 15, 2019, the Company may redeem up to 40% of the aggregate principal amount of the March 2022 Secured Notes using the proceeds of certain equity offerings at the redemption price

PENSION AND POSTRETIREMENT EMPL

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2017
Retirement Benefits [Abstract]
PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS	PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS In connection with the acquisition of Bausch & Lomb Holdings Incorporated ("B&L") completed on August 5, 2013, the Company assumed all of B&L’s benefit obligations and related plan assets. This includes defined benefit plans and a participatory defined benefit postretirement medical and life insurance plan, which covers a closed grandfathered group of legacy B&L U.S. employees and employees in certain other countries. The U.S. defined benefit accruals were frozen as of December 31, 2004 and benefits that were earned up to December 31, 2004 were preserved. Participants continue to earn interest credits on their cash balance. The most significant non-U.S. plans are two defined benefit plans in Ireland. In 2011, both Ireland defined benefit plans were closed to future service benefit accruals; however, additional accruals related to annual salary increases continued. In December 2014, one of the Ireland defined benefit plans was amended effective August 2014 to eliminate future benefit accruals related to salary increases. All of the pension benefits accrued through the plan amendment date were preserved. As a result of the plan amendment, there are no active plan participants accruing benefits under the amended Ireland defined benefit plan. The U.S. postretirement benefit plan was amended effective January 1, 2005 to eliminate employer contributions after age 65 for participants who did not meet the minimum requirements of age and service on that date. The employer contributions for medical and prescription drug benefits for participants retiring after March 1, 1989 were frozen effective January 1, 2010. Effective January 1, 2014, the Company no longer offers medical and life insurance coverage to new retirees. In addition to the B&L benefit plans, outside of the U.S., a limited group of Valeant employees are covered by defined benefit pension plans. The Company uses December 31 as the year-end measurement date for all of its defined benefit pension plans and the postretirement benefit plan. Accounting for Pension Benefit Plans and Postretirement Benefit Plan The Company recognizes in its consolidated balance sheets an asset or liability equal to the over- or under-funded benefit obligation of each defined benefit pension plan and postretirement benefit plan. Actuarial gains or losses and prior service costs or credits that arise during the period but are not recognized as components of net periodic benefit cost are recognized, net of tax, as a component of other comprehensive income (loss). The amounts included in accumulated other comprehensive loss as of December 31, 2017 , 2016 and 2015 were as follows: Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans (in millions) 2017 2016 2015 2017 2016 2015 2017 2016 2015 Unrecognized actuarial (losses) gains $ (18 ) $ (26 ) $ (24 ) $ (56 ) $ (61 ) $ (40 ) $ (4 ) $ (6 ) $ (6 ) Unrecognized prior service credits $ — $ — $ — $ 29 $ 26 $ 24 $ 20 $ 23 $ 23 Of the December 31, 2017 amounts, the Company expects to recognize $3 million and $1 million of unrecognized prior service credits related to the U.S. postretirement benefit plan and the non-U.S. defined benefit plans, respectively, in net periodic (benefit) cost during 2018 . In addition, the Company expects to recognize $1 million of unrecognized actuarial losses related to the non-U.S. pension benefit plans in net periodic (benefit) cost during 2018 . Net Periodic (Benefit) Cost The following table provides the components of net periodic (benefit) cost for the Company’s defined benefit pension plans and postretirement benefit plan in 2017 , 2016 and 2015 : Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans (in millions) 2017 2016 2015 2017 2016 2015 2017 2016 2015 Service cost $ 2 $ 2 $ 2 $ 3 $ 3 $ 3 $ — $ — $ 2 Interest cost 8 8 10 5 6 6 2 2 2 Expected return on plan assets (13 ) (13 ) (15 ) (5 ) (7 ) (7 ) — — — Amortization of net loss — — — 2 — 1 — — — Amortization of prior service credit — — — (1 ) (1 ) (1 ) (3 ) (3 ) (3 ) Settlement loss recognized — — — — — 2 — — — Other — — — — 2 — — — — Net periodic (benefit) cost $ (3 ) $ (3 ) $ (3 ) $ 4 $ 3 $ 4 $ (1 ) $ (1 ) $ 1 Benefit Obligation, Change in Plan Assets and Funded Status The table below presents components of the change in projected benefit obligation, change in plan assets and funded status for 2017 and 2016 : Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans (in millions) 2017 2016 2017 2016 2017 2016 Change in Projected benefit Obligation Projected benefit obligation, beginning of year $ 230 $ 232 $ 230 $ 217 $ 52 $ 58 Service cost 2 2 3 3 — — Interest cost 8 8 5 6 2 2 Employee contributions — — — — 1 1 Plan amendments — — — (4 ) — (2 ) Settlements — — (1 ) (5 ) — — Benefits paid (15 ) (15 ) (4 ) (5 ) (6 ) (6 ) Actuarial (gains) losses 9 3 (9 ) 25 (1 ) (1 ) Currency translation adjustments — — 30 (8 ) — — Other — — — 1 — — Projected benefit obligation, end of year 234 230 254 230 48 52 Change in Plan Assets Fair value of plan assets, beginning of year 181 182 128 126 — 4 Actual return on plan assets 30 14 7 7 — (1 ) Employee contributions — — — — 1 1 Company contributions 10 — 7 9 5 2 Settlements — — (1 ) (4 ) — — Benefits paid (15 ) (15 ) (4 ) (5 ) (6 ) (6 ) Currency translation adjustments — — 18 (5 ) — — Fair value of plan assets, end of year 206 181 155 128 — — Funded Status at end of year $ (28 ) $ (49 ) $ (99 ) $ (102 ) $ (48 ) $ (52 ) Recognized as: Accrued and other current liabilities — — (2 ) (2 ) (6 ) (6 ) Other non-current liabilities (28 ) (49 ) (97 ) (100 ) (42 ) (46 ) A number of the Company’s pension benefit plans were underfunded as of December 31, 2017 and 2016 , having accumulated benefit obligations exceeding the fair value of plan assets. Information for the underfunded pension benefit plans is as follows: U.S. Plan Non-U.S. Plans (in millions) 2017 2016 2017 2016 Projected benefit obligation $ 234 $ 230 $ 254 $ 230 Accumulated benefit obligation 234 230 244 221 Fair value of plan assets 206 181 155 128 The Company’s policy for funding its pension benefit plans is to make contributions that meet or exceed the minimum statutory funding requirements. These contributions are determined based upon recommendations made by the actuary under accepted actuarial principles. In 2018 , the Company expects to contribute $5 million , $7 million and $6 million to the U.S. pension benefit plan, the non-U.S. pension benefit plans and the U.S. postretirement benefit plan, respectively. The Company plans to use postretirement benefit plan assets and cash on hand, as necessary, to fund the U.S. postretirement benefit plan benefit payments in 2018 . Estimated Future Benefit Payments Future benefit payments over the next 10 years for the pension benefit plans and the postretirement benefit plan, which reflect expected future service, as appropriate, are expected to be paid as follows: (in millions) Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans 2018 $ 14 $ 4 $ 6 2019 19 5 5 2020 19 5 5 2021 18 6 4 2022 18 6 4 2023-2027 79 35 15 Assumptions The weighted-average assumptions used to determine net periodic benefit costs and benefit obligations for 2017, 2016 and 2015 were as follows: Pension Benefit Plans Postretirement Benefit Plan (1) 2017 2016 2015 2017 2016 2015 For Determining Net Periodic (Benefit) Cost U.S. Plans: Discount rate 4.04 % 4.34 % 3.90 % 3.85 % 4.13 % 3.70 % Expected rate of return on plan assets 7.50 % 7.50 % 7.50 % — 5.50 % 5.50 % Rate of compensation increase — — — — — — Non-U.S. Plans: Discount rate 2.08 % 2.74 % 2.41 % Expected rate of return on plan assets 3.84 % 5.46 % 5.60 % Rate of compensation increase 2.64 % 2.87 % 2.86 % Pension Benefit Plans Postretirement Benefit Plan (1) 2017 2016 2017 2016 For Determining Benefit Obligation U.S. Plans: Discount rate 3.56 % 4.04 % 3.47 % 3.85 % Rate of compensation increase — — — — Non-U.S. Plans: Discount rate 2.29 % 2.08 % Rate of compensation increase 2.87 % 2.64 % ____________________________________ (1) The Company does not have non-U.S. postretirement benefit plans. The expected long-term rate of return on plan assets was developed based on a capital markets model that uses expected asset class returns, variance and correlation assumptions. The expected asset class returns were developed starting with current Treasury (for the U.S. pension plan) or Eurozone (for the Ireland pension plans) government yields and then adding corporate bond spreads and equity risk premiums to develop the return expectations for each asset class. The expected asset class returns are forward-looking. The variance and correlation assumptions are also forward-looking. They take into account historical relationships, but are adjusted to reflect expected capital market trends. The expected return on plan assets for the Company’s U.S. pension plan for 2017 was 7.50% . The expected return on plan assets for the Company’s Ireland pension plans was 4.00% for 2017 . The discount rate used to determine benefit obligations represents the current rate at which the benefit plan liabilities could be effectively settled considering the timing of expected payments for plan participants. The 2018 expected rate of return for the U.S. pension benefit plan will remain at 7.50% . The 2018 expected rate of return for the Ireland pension benefit plans will be 3.75% . Pension Benefit Plans Assets Pension benefit plan assets are invested in several asset categories. The following presents the actual asset allocation as of December 31, 2017 and 2016 : 2017 2016 U.S. Plan Equity securities 60 % 61 % Fixed income securities 30 % 39 % Other 10 % — % Cash — % — % Non-U.S. Plans Equity securities 23 % 47 % Fixed income securities 66 % 42 % Other 11 % 11 % The investment strategy underlying pension plan asset allocation is to manage the assets of the plan to provide for the non-current liabilities while maintaining sufficient liquidity to pay current benefits. Pension plan assets are diversified to protect against large investment losses and to reduce the probability of excessive performance volatility. Diversification of assets is achieved by allocating funds to various asset classes and investment styles within asset classes, and retaining investment management firm(s) with complementary investment philosophies, styles and approaches. The Company’s pension plan assets are managed by outside investment managers using a total return investment approach, whereby a mix of equity and debt securities investments are used to maximize the long-term rate of return on plan assets. A significant portion of the assets of the U.S. and Ireland pension plans have been invested in equity securities, as equity portfolios have historically provided higher returns than debt and other asset classes over extended time horizons. Correspondingly, equity investments also entail greater risks than other investments. Equity risks are balanced by investing a significant portion of plan assets in broadly diversified fixed income securities. Fair Value of Plan Assets The Company measured the fair value of plan assets based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 6, "FAIR VALUE MEASUREMENTS" for details on the Company's fair value measurements based on a three-tier hierarchy. The table below presents total plan assets by investment category as of December 31, 2017 and 2016 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value. There were no transfers between Level 1 and Level 2 for the years ended December 31, 2017 and 2016 . Pension Benefit Plans - U.S. Plans As of December 31, 2017 As of December 31, 2016 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Cash and cash equivalents $ — $ — $ — $ — $ — $ — $ — $ — Commingled funds: Equity securities: U.S. broad market — 76 — 76 — 70 — 70 Emerging markets — 19 — 19 — 16 — 16 Worldwide developed markets — 29 — 29 — 25 — 25 Fixed income securities: Investment grade — 62 — 62 — 52 — 52 Global high yield — — — — — 18 — 18 Other assets — 20 — 20 — — — — $ — $ 206 $ — $ 206 $ — $ 181 $ — $ 181 Pension Benefit Plans - Non-U.S. Plans As of December 31, 2017 As of December 31, 2016 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Cash and cash equivalents $ 14 $ — $ — $ 14 $ 10 $ — $ — $ 10 Commingled funds: Equity securities: Emerging markets — 1 — 1 — — — — Worldwide developed markets — 35 — 35 — 59 — 59 Fixed income securities: Investment grade — 10 — 10 — 10 — 10 Global high yield — 4 — 4 — 1 — 1 Government bond funds — 88 — 88 — 43 — 43 Other assets — 3 — 3 — 5 — 5 $ 14 $ 141 $ — $ 155 $ 10 $ 118 $ — $ 128 Cash equivalents consisted primarily of term deposits and money market instruments. The fair value of the term deposits approximates their carrying amounts due to their short term maturities. The money market instruments also have short maturities and are valued using a market approach based on the quoted market prices of identical instruments. Commingled funds are not publicly traded. The underlying assets in these funds are publicly traded on the exchanges and have readily available price quotes. The Ireland pension plans held approximately 92% and 91% of the non-U.S. commingled funds in 2017 and 2016 , respectively. The commingled funds held by the U.S. and Ireland pension plans are primarily invested in index funds. The underlying assets in the fixed income funds are generally valued using the net asset value per fund share, which is derived using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades. The insurance policies held by the postretirement benefit plan consist of variable life insurance contracts whose fair value is their cash surrender value. Cash surrender value is the amount currently payable by the insurance company upon surrender of the policy and is based principally on the net asset values of the underlying trust funds. The trust funds are commingled funds that are not publicly traded. The underlying assets in these funds are primarily publicly traded on exchanges and have readily available price quotes. Defined Contribution Plans The Company sponsors defined contribution plans in the U.S., Ireland and certain other countries. Under these plans, employees are allowed to contribute a portion of their salaries to the plans, and the Company matches a portion of the employee contributions. The Company contributed $22 million , $28 million and $28 million to these plans in the years ended December 31, 2017, 2016 and 2015 , respectively.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Securities Repurchase Programs On November 18, 2015, the Company’s Board of Directors approved a securities repurchase program (the “2015 Securities Repurchase Program”). Under the 2015 Securities Repurchase Program, which commenced on November 21, 2015, the Company could make purchases of up to $3,000 million of its convertible notes, senior notes, common shares and/or other future debt or shares, subject to any restrictions in the Company’s financing agreements and applicable law. The 2015 Securities Repurchase Program terminated on November 20, 2016 and has not been renewed. On November 20, 2014, the Company’s Board of Directors approved a securities repurchase program (the “2014 Securities Repurchase Program”). Under the 2014 Securities Repurchase Program, which commenced on November 21, 2014, the Company could make purchases of up to $2,000 million of its convertible notes, senior notes, common shares and/or other future debt or shares, subject to any restrictions in the Company’s financing agreements and applicable law. The 2014 Securities Repurchase Program terminated on November 20, 2015. Repurchases of Shares and Senior Notes No common shares were repurchased under the 2015 Securities Repurchase Program. During 2015, under the 2014 Securities Repurchase Program, the Company repurchased 424,215 of its common shares for an aggregate purchase price of $72 million . The excess of the purchase price over the carrying value of the common shares repurchased of $60 million was charged to the accumulated deficit. These common shares were subsequently cancelled. During 2017, 2016 and 2015, the Company did not make any purchases of its senior notes under the securities repurchase programs. Issuances of Common Shares On June 10, 2015, the Company issued 213,610 common shares, representing a portion of the consideration transferred in connection with the acquisition of certain assets of Dendreon Corporation. The shares had an aggregate value of approximately $50 million as of the date of issuance. See Note 3, "ACQUISITIONS" for additional information regarding the acquisition of certain assets of Dendreon Corporation. On March 27, 2015, the Company completed, pursuant to an Underwriting Agreement dated March 17, 2015 with Deutsche Bank Securities Inc. on behalf of several underwriters, a registered offering in the United States of 7,286,432 of its common shares, no par value, at a price of $199.00 per common share, for aggregate gross proceeds of approximately $1,450 million . In connection with the issuance of these new common shares, the Company incurred approximately $18 million of issuance costs, which has been reflected as reduction to the gross proceeds from the equity issuance. The proceeds of this offering were used to fund the Salix Acquisition. The Company granted the underwriters an option to purchase additional common shares equal to up to 15% of the common shares initially issued in the offering. This option was not exercised by the underwriters.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION In May 2014, shareholders approved the Company’s 2014 Omnibus Incentive Plan (the “2014 Plan”) which replaced the Company’s 2011 Omnibus Incentive Plan (the “2011 Plan”) for future equity awards granted by the Company. The Company transferred the common shares available under the 2011 Plan to the 2014 Plan. The maximum number of common shares that may be issued to participants under the 2014 Plan is equal to 18,000,000 common shares, plus the number of common shares under the 2011 Plan reserved but unissued and not underlying outstanding awards and the number of common shares becoming available for reuse after awards are terminated, forfeited, cancelled, exchanged or surrendered under the 2011 Plan and the Company’s 2007 Equity Compensation Plan. The Company registered 20,000,000 common shares of common stock for issuance under the 2014 Plan. Approximately 7,461,000 common shares were available for future grants as of December 31, 2017 . The Company uses reserved and unissued common shares to satisfy its obligation under its share-based compensation plans. The components and classification of share-based compensation expense related to stock options and RSUs for the years ended December 31, 2017, 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Stock options $ 18 $ 16 $ 17 RSUs 69 149 123 Share-based compensation expense $ 87 $ 165 $ 140 Research and development expenses $ 8 $ 7 $ 6 Selling, general and administrative expenses 79 158 134 Share-based compensation expense $ 87 $ 165 $ 140 During 2017, the Company introduced a new long-term incentive program with the objective of realigning the share-based awards granted to senior management with the Company’s focus on improving its tangible capital usage and allocation, while maintaining focus on improving total shareholder return over the long-term. The share-based awards granted under this long-term incentive program consist of time-based stock options, time-based RSUs and performance-based RSUs. Performance-based RSUs are comprised of (i) awards that vest upon achievement of certain share price appreciation conditions that are based on total shareholder return (“TSR”) and (ii) awards that vest upon attainment of certain performance targets that are based on the Company’s return on tangible capital (“ROTC”). The fair value of the ROTC performance-based RSUs is estimated based on the trading price of the Company’s common shares on the date of grant. Expense recognized for the ROTC performance-based RSUs in each reporting period reflects the Company’s latest estimate of the number of ROTC performance-based RSUs that are expected to vest. If the ROTC performance-based RSUs do not ultimately vest due to the ROTC targets not being met, no compensation expense is recognized and any previously recognized compensation expense is reversed. In March 2016, the Company announced that its Board of Directors had initiated a search to identify a candidate for a new CEO to succeed the Company's then current CEO, who would continue to serve in that role until his replacement was appointed. On May 2, 2016, the Company's new CEO assumed the role, succeeding the Company's former CEO. Pursuant to the terms of his employment agreement dated January 2015, the former CEO was entitled to certain share-based awards and payments upon termination. Under his January 2015 employment agreement, the former CEO received performance-based RSUs that vest when certain market conditions (namely total shareholder return) are met at the defined dates, provided continuing employment through those dates. Under the termination provisions of his employment agreement, upon termination of the former CEO, the defined dates for meeting the market conditions of the performance-based RSUs were eliminated and, as a result, vesting was based solely on the attainment of the applicable level of total shareholder return through the date of termination and the resulting number of common shares, if any, to be awarded to the former CEO was determined on a pro-rata basis for service provided under the original performance period, with credit given for an additional year of service. Because the total shareholder return at the time of the former CEO’s termination did not meet the performance threshold, no common shares were issued and no value was ultimately received by the former CEO pursuant to this performance-based RSU award. However, an incremental share-based compensation expense of $28 million was recognized in the six-month period ended June 30, 2016, which represents the additional year of service credit consistent with the grant date fair value calculated using a Monte Carlo Simulation Model in the first quarter of 2015, notwithstanding the fact that no value was ultimately received by the former CEO. In addition to the acceleration of his performance-based RSUs, the former CEO was also entitled to a cash severance payment of $9 million and a pro-rata annual cash bonus of approximately $2 million pursuant to his employment agreement. The cash severance payments, the pro-rata cash bonus and the associated payroll taxes were also recognized as expense in the first quarter of 2016. On June 30, 2015, a former Chief Financial Officer of the Company terminated his employment and subsequently entered into a consulting service agreement with the Company through January 2016. As a result, the outstanding awards held by him were modified to allow the recipient to continue vesting in those awards as service is rendered during the consulting services period. Share-based compensation expense previously recognized of $6 million related to the original awards was reversed in the second quarter of 2015 when such awards were deemed improbable of vesting. The modified awards are re-measured at fair value, at each reporting period, until a performance commitment is reached or the performance is complete. The value of the modified awards is recognized as expense over the requisite service period and resulted in expense of $12 million for the year ended December 31, 2015. Subsequently, on January 6, 2016, the consulting services period was terminated in connection with such executive’s appointment as the Company’s interim chief executive officer. The termination of the consulting services period resulted in acceleration of vesting for all unvested equity awards that were scheduled to vest during the remainder of such consulting services period (January 2016) and consequently, the associated unrecognized expense was fully recognized on such date. The Company recognized $57 million of tax benefits from share-based compensation in additional paid-in capital in the year ended December 31, 2015. In the third quarter of 2016, the Company early adopted FASB guidance (issued in March 2016) which simplified several aspects of the accounting for employee share-based payment transactions, including the recognition of tax benefits in the (Benefit from) provision for income taxes in the periods such tax benefits are realized. Stock Options Stock options granted under the 2011 Plan and 2014 Plan generally expire on the fifth or tenth anniversary of the grant date. The exercise price of any stock option granted under the 2011 Plan and 2014 Plan will not be less than the closing price per common share preceding the date of grant. Stock options generally vest 25% each year over a four -year period on the anniversary of the date of grant. The fair values of all stock options granted for the years ended December 31, 2017 , 2016 and 2015 were estimated as of the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: 2017 2016 2015 Expected stock option life (years) 3.0 3.3 3.4 Expected volatility 67.3 % 75.0 % 44.5 % Risk-free interest rate 1.8 % 1.1 % 1.3 % Expected dividend yield — % — % — % The expected stock option life was determined based on historical exercise and forfeiture patterns. The expected volatility was determined based on implied volatility in the market traded options of the Company’s common stock. The risk-free interest rate was determined based on the rate at the time of grant for zero-coupon U.S. or Canadian government bonds with maturity dates equal to the expected life of the stock option. The expected dividend yield was determined based on the stock option’s exercise price and expected annual dividend rate at the time of grant. The Black-Scholes option-pricing model used by the Company to calculate stock option values was developed to estimate the fair value of freely tradeable, fully transferable stock options without vesting restrictions, which significantly differ from the Company’s stock option awards. This model also requires highly subjective assumptions, including future stock price volatility and expected time until exercise, which greatly affect the calculated values. The following table summarizes stock option activity during 2017 : (in millions, except per share amounts) Options Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding, January 1, 2017 4.1 $ 49.57 Granted 1.6 $ 14.28 Exercised (0.1 ) $ 5.16 Expired or forfeited (1.1 ) $ 63.72 Outstanding, December 31, 2017 4.5 $ 34.65 8.1 $ 10 Vested and expected to vest, December 31, 2017 4.2 $ 35.22 8.0 $ 9 Vested and exercisable, December 31, 2017 1.4 $ 58.80 6.6 $ — The weighted-average fair values of all stock options granted in 2017, 2016 and 2015 were $5.97 , $14.50 and $73.10 , respectively. The total intrinsic values of stock options exercised in 2017, 2016 and 2015 were $1 million , $65 million and $119 million , respectively. Proceeds received on the exercise of stock options in 2017, 2016 and 2015 were less than $1 million , $33 million and $30 million , respectively. As of December 31, 2017 , the total remaining unrecognized compensation expense related to non-vested stock options amounted to $27 million , which will be amortized over the weighted-average remaining requisite service period of approximately 1.9 years. The total fair value of stock options vested in 2017, 2016 and 2015 were $20 million , $26 million and $26 million , respectively. RSUs RSUs generally vest either on the third anniversary date from the date of grant or 33% a year over a three -year period. Annual RSUs granted to non-management directors vest immediately prior to the next Annual Meeting of Shareholders. Pursuant to the applicable unit agreement, certain RSUs may be subject to the attainment of any applicable performance goals specified by the Board of Directors. If the vesting of the RSUs is conditional upon the attainment of performance goals, any RSUs that do not vest as a result of a determination that the prescribed performance goals failed to be attained will be forfeited immediately upon such determination. RSUs are credited with dividend equivalents, in the form of additional RSUs, when dividends are paid on the Company’s common shares. Such additional RSUs will have the same vesting dates and will vest under the same terms as the RSUs in respect of which such additional RSUs are credited. To the extent provided for in a RSU agreement, the Company may, in lieu of all or a portion of the common shares which would otherwise be provided to a holder, elect to pay a cash amount equivalent to the market price of the Company’s common shares on the vesting date for each vested RSU. The amount of cash payment will be determined based on the average market price of the Company’s common shares on the vesting date. The Company’s current intent is to settle vested RSUs through the issuance of common shares. Time-Based RSUs Each vested time-based RSU represents the right of a holder to receive one of the Company’s common shares. The fair value of each RSU granted is estimated based on the trading price of the Company’s common shares on the date of grant. The following table summarizes non-vested time-based RSU activity during 2017 : (in millions, except per share amounts) Time-Based RSUs Weighted- Average Grant-Date Fair Value Per Share Non-vested, January 1, 2017 2.7 $ 43.96 Granted 3.6 $ 11.92 Vested (1.0 ) $ 57.34 Forfeited (0.6 ) $ 19.24 Non-vested, December 31, 2017 4.7 $ 19.09 As of December 31, 2017 , the total remaining unrecognized compensation expense related to non-vested time-based RSUs amounted to $47 million , which will be amortized over the weighted-average remaining requisite service period of approximately 1.9 years. The total fair value of time-based RSUs vested in 2017, 2016 and 2015 were $58 million , $43 million and $7 million , respectively. Performance-Based RSUs Each vested performance-based RSU represents the right of a holder to receive a number of the Company’s common shares up to a specified maximum. Performance-based RSUs vest upon achievement of certain share price appreciation conditions. If the Company’s performance is below a specified performance level, no common shares will be paid. The fair value of each performance-based RSU granted during 2017 , 2016 and 2015 was estimated using a Monte Carlo Simulation model, which utilizes multiple input variables to estimate the probability that the performance condition will be achieved. The fair values of performance-based RSUs granted during 2017 , 2016 and 2015 were estimated with the following assumptions: 2017 2016 2015 Contractual term (years) 3.0 3.0 - 4.0 2.8 - 6.3 Expected Company share volatility 67.2% - 77.2% 78.2% - 81.4% 40.9% - 60.3% Risk-free interest rate 1.7% - 1.8% 1.0% - 1.2% 1.1% - 2.1% The expected company share volatility was determined based on historical volatility over the contractual term of the performance-based RSU. The risk-free interest rate was determined based on the rate at the time of grant for zero-coupon U.S. government bonds with maturity dates equal to the contractual term of the performance-based RSUs. The following table summarizes non-vested performance-based RSU activity during 2017 : (in millions, except per share amounts) Performance-based RSUs Weighted- Average Grant-Date Fair Value Per Share Non-vested, January 1, 2017 1.8 $ 81.68 Granted 0.4 $ 16.06 Vested (0.1 ) $ 211.34 Forfeited (0.3 ) $ 135.18 Non-vested, December 31, 2017 1.8 $ 48.55 During 2017 , the Company granted approximately 416,000 performance-based RSUs, consisting of approximately 208,000 units of TSR performance-based RSUs with an average grant date fair value of $16.35 per RSU and approximately 208,000 units of ROTC performance-based RSUs with a weighted-average grant date fair value of $15.76 per RSU. As of December 31, 2017 , the total remaining unrecognized compensation expense related to non-vested performance-based RSUs amounted to $35 million , which will be amortized over the weighted-average remaining requisite service period of approximately 1.9 years. A maximum of 3,427,493 common shares could be issued upon vesting of the performance-based RSUs outstanding as of December 31, 2017 .

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The components of accumulated other comprehensive loss as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Foreign currency translation adjustment $ (1,877 ) $ (2,074 ) Pension adjustment, net of tax (19 ) (34 ) $ (1,896 ) $ (2,108 ) Income taxes are not provided for foreign currency translation adjustments arising on the translation of the Company’s operations having a functional currency other than the U.S. dollar, except to the extent of translation adjustments related to the Company’s retained earnings for foreign jurisdictions in which the Company is not considered to be permanently reinvested.

RESEARCH AND DEVELOPMENT

RESEARCH AND DEVELOPMENT	12 Months Ended
	Dec. 31, 2017
Research and Development [Abstract]
RESEARCH AND DEVELOPMENT	RESEARCH AND DEVELOPMENT Included in Research and development are costs related to product development and quality assurance programs. Quality assurance are the costs incurred to meet evolving customer and regulatory standards. Research and development costs are as follows: (in millions) 2017 2016 2015 Product related research and development $ 328 $ 385 $ 306 Quality assurance 33 36 28 Research and development $ 361 $ 421 $ 334

OTHER (INCOME) EXPENSE, NET

OTHER (INCOME) EXPENSE, NET	12 Months Ended
	Dec. 31, 2017
Other Income and Expenses [Abstract]
OTHER (INCOME) EXPENSE, NET	OTHER (INCOME) EXPENSE, NET Other (income) expense, net for the years ended December 31, 2017, 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Gain on the Skincare Sale $ (309 ) $ — $ — Gain on the iNova Sale (309 ) — — Gain on the Dendreon Sale (97 ) — — Loss on the Sprout Sale 98 — — Net loss (gain) on other sales of assets 37 (6 ) 8 Other post business combination expenses — — 183 Litigation and other matters 226 59 37 Other, net 1 20 67 Other (income) expense, net $ (353 ) $ 73 $ 295 2017 Litigation and other matters includes: (i) $96 million for the estimated settlement of the Allergan shareholder class actions, (ii) the estimated settlement of the Solodyn ® antitrust class actions litigation and (iii) the potential partial summary judgment related to the Mimetogen Pharmaceuticals litigation. See Note 21, "LEGAL PROCEEDINGS" for additional information. 2016 Litigation and other matters includes: (i) an unfavorable adjustment of $90 million from the settlement of the Salix securities litigation and (ii) a favorable adjustment of $39 million from the settlement of the investigation into Salix's pre-acquisition sales and promotional practices for the Xifaxan ® , Relistor ® and Apriso ® products. See Note 21, "LEGAL PROCEEDINGS" for additional information. Net gain on other sales of assets includes: (i) a gain of $20 million from an amendment to a license agreement terminating the Company's right to develop and commercialize brodalumab in Europe and (ii) a loss of $22 million from the divestiture of Ruconest ® . 2015 Other post-business combination expenses includes: (i) $168 million related to the acceleration of unvested restricted stock for Salix employees (including $3 million of related payroll taxes) in connection with the Salix Acquisition and (ii) $12 million related to bonuses paid to Amoun employees. Litigation and other matters includes $25 million related to the AntiGrippin ® litigation. See Note 21, "LEGAL PROCEEDINGS" for additional information.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of Loss before (benefit from) provision for income taxes for the years ended December 31, 2017, 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Domestic $ (2,032 ) $ (1,804 ) $ (1,516 ) Foreign 291 (631 ) 1,361 $ (1,741 ) $ (2,435 ) $ (155 ) The components of (Benefit from) provision for income taxes for the years ended December 31, 2017, 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Current: Domestic $ 20 $ — $ — Foreign 146 241 77 166 241 77 Deferred: Domestic 2 — (3 ) Foreign (4,313 ) (268 ) 59 (4,311 ) (268 ) 56 $ (4,145 ) $ (27 ) $ 133 The (Benefit from) provision for income taxes differs from the expected amount calculated by applying the Company’s Canadian statutory rate of 26.9% to Loss before (benefit from) provision for income taxes for the years ended December 31, 2017, 2016 and 2015 as follows: (in millions) 2017 2016 2015 Loss before (benefit from) provision for income taxes $ (1,741 ) $ (2,435 ) $ (155 ) (Benefit from) provision for income taxes Expected benefit from income taxes at Canadian statutory rate $ (468 ) $ (655 ) $ (42 ) Non-deductible amount of share-based compensation 37 30 4 Adjustments to tax attributes 242 (147 ) (87 ) Impact of changes in enacted income tax rates (747 ) — — Canadian tax impact of foreign exchange gain or loss on U.S. dollar denominated debt held by VPII and its Canadian Affiliates (157 ) 11 174 Change in valuation allowance related to foreign tax credits and net operating losses (139 ) 155 114 Change in valuation allowance on Canadian deferred tax assets and tax rate changes 517 472 230 Change in uncertain tax positions 65 10 — Foreign tax rate differences (933 ) 101 107 Goodwill impairment 139 377 — Tax differences on divestitures of businesses (203 ) — (16 ) Tax benefit on intra-entity transfers (2,480 ) (399 ) (375 ) Other (18 ) 18 24 $ (4,145 ) $ (27 ) $ 133 In the previous table, the comparable line items within the 2016 and 2015 (Benefit from) provision for income taxes have been reclassified using the current presentation. Deferred tax assets and liabilities as of December 31, 2017 and 2016 consist of: (in millions) 2017 2016 Deferred tax assets: Tax loss carryforwards $ 2,485 $ 1,328 Tax credit carryforwards 59 422 Scientific Research and Experimental Development pool 57 53 Research and development tax credits 140 129 Provisions 589 563 Deferred revenue 11 15 Deferred financing and share issue costs 61 391 Share-based compensation 22 37 Total deferred tax assets 3,424 2,938 Less valuation allowance (2,001 ) (1,857 ) Net deferred tax assets 1,423 1,081 Deferred tax liabilities: Intangible assets 2,014 4,044 Outside basis differences 28 2,165 Plant, equipment and technology 18 24 Prepaid expenses 35 80 Other 75 56 Total deferred tax liabilities 2,170 6,369 Net deferred tax liability $ (747 ) $ (5,288 ) On December 22, 2017, the Tax Act was signed into law and includes a number of changes in the U.S. tax law, most notably a reduction of the U.S. corporate income tax rate from 35% to 21% for tax years beginning after December 31, 2017. The Tax Act also implements a modified territorial tax system that includes a one-time transition tax on the accumulated previously untaxed earnings of foreign subsidiaries (the “Transition Toll Tax”) equal to 15.5% (reinvested in liquid assets) or 8% (reinvested in non-liquid assets). At the taxpayer's election, the Transition Toll Tax can be paid over an eight -year period without interest, starting in 2018. The Company has provided for income taxes, including the impacts of the Tax Act, in accordance with the accounting guidance issued through the date of this filing. The tax benefit for 2017 is $4,145 million , which includes provisional net tax benefits of $975 million attributable to the Tax Act. The accounting for the Tax Act includes each of the following provisional amounts: (i) the re-measurement of certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future of $774 million , (ii) the one-time Transition Toll Tax of $88 million and (iii) the decrease in deferred tax assets attributable to certain legal accruals, the deductibility of which is uncertain for U.S. federal income tax purposes, of $10 million . The Company has provisionally utilized net operating losses (“NOLs”) to offset the provisionally determined $88 million Transition Toll Tax and therefore no amount is recorded as payable. The Company has previously provided for residual U.S. federal income tax on its outside basis differences in certain foreign subsidiaries; however, as the Company's residual U.S. federal tax liability was $299 million prior to the law change, the Company recognized a deferred tax benefit of $299 million in the fourth quarter of 2017. The provisional amounts included in the Company's 2017 Benefit from income taxes, including the Transition Toll Tax, will be finalized when a full assessment can be completed, and the resulting tax effects will be recognized in the period finalized, as additional income tax provision or benefit. The effects of the Tax Act were recorded as provisional estimated, in part, because of expected future guidance from the SEC, the US Internal Revenue Service, and various state and local governments. The Company's assessment must be finalized within one year of the enactment of the Tax Act, December 22, 2018. Differences between the provisional benefit from income taxes as provided and the benefit or provision for income taxes when finalized are expected, and those differences could be material. In 2017, the Company liquidated the Company’s top U.S. subsidiary (Biovail Americas Corp.) (“BAC”) in a taxable transaction, resulting in a taxable loss which was of a character that offset certain gains from internal restructurings and third party divestitures, the excess of which was, under U.S. tax law, able to be carried back to offset previously recognized gains in 2016, 2015 and 2014. This carry back resulted in an increase in the Company’s deferred tax asset for net operating losses previously utilized against such gains. The largest result of this transaction for which the Company has recorded a benefit is the reversal of a previously established deferred tax liability of $1,900 million and a net benefit of approximately $400 million primarily related to the carryback of losses. The realization of deferred tax assets is dependent on the Company generating sufficient domestic and foreign taxable income in the years that the temporary differences become deductible. A valuation allowance has been provided for the portion of the deferred tax assets that the Company determined is more likely than not to remain unrealized based on estimated future taxable income and tax planning strategies. As a result of losses in Canada and losses generated in conjunction with the internal restructurings which occurred in 2017, the valuation allowance increased by $144 million and $491 million , respectively. Given the Company’s history of pre-tax losses and expected future losses in Canada, the Company determined there was insufficient objective evidence to release the remaining valuation allowance against Canadian tax loss carryforwards, International Tax Credits (“ITC”) and pooled Scientific Research and Experimental Development Tax Incentive (“SR&ED”) expenditures. As of December 31, 2017 and 2016, the Company had accumulated tax losses available to offset future years’ federal and provincial taxable income in Canada of approximately $5,047 million and $3,456 million , respectively. As of December 31, 2017 and 2016, unclaimed ITCs available to offset future years’ federal taxes in Canada were approximately $37 million and $34 million , respectively, which expire between 2018 and 2036. In addition, as of December 31, 2017 and 2016, pooled SR&ED expenditures available to offset against future years’ taxable income in Canada were approximately $210 million and $195 million , respectively, which may be carried forward indefinitely. As of December 31, 2017 and 2016, a full valuation allowance against the net Canadian deferred tax assets has been provided of $1,576 million and $1,328 million , respectively. As of December 31, 2017 and 2016, the Company had accumulated tax losses available to offset future years' federal taxable income in the U.S. of approximately $1,703 million and $651 million , respectively, including acquired losses which expire between 2021 and 2036. In conjunction with the Sprout Sale, the Company recognized a capital loss and established a valuation allowance on the portion of the loss for which a benefit is not expected to be realized. While the remaining losses are subject to multiple annual loss limitations as a result of previous ownership changes, the Company believes that the recoverability of the deferred tax assets associated with these tax losses are more likely than not to be realized. As of December 31, 2017 and 2016, U.S. research and development credits available to offset future years' federal income taxes in the U.S. were approximately $95 million and $91 million , respectively, which includes acquired research and development credits and which expire between 2021 and 2036. As of December 31, 2017, the Company has intentions to amend prior tax filings in order to deduct foreign taxes rather than take a foreign tax credit. Therefore, the Company has reversed the deferred tax asset and associated valuation allowance of approximately $342 million in U.S. foreign tax credits, including acquired U.S. foreign tax credits. The Company has also provisionally recorded a deferred tax benefit of $84 million for such deduction and has adjusted its expected NOL carryforward accordingly. The Company has provisionally determined to not record the potential tax impacts of GILTI associated with the unremitted earnings of the foreign subsidiaries owned by the Company’s U.S. subsidiaries. In addition, the Company provides for Canadian tax on the unremitted earnings of its direct foreign affiliates except for its direct U.S. subsidiaries. The Company continues to assert that the unremitted earnings of its U.S. subsidiaries will be permanently reinvested and not repatriated to Canada. As of December 31, 2017, the Company estimates there will be no Canadian tax liability attributable to the permanently reinvested U.S. earnings. As of December 31, 2017 and 2016, unrecognized tax benefits (including interest and penalties) were $598 million and $423 million , of which $273 million and $185 million would affect the effective income tax rate, respectively. The remaining unrecognized tax benefits of approximately $325 million would not impact the effective tax rate as the tax positions are offset against existing tax attributes or are timing in nature. In 2017 and 2016, the Company recognized net increases to unrecognized tax benefits for current year tax positions of $147 million and $16 million , respectively. In 2017 and 2016, the Company recognized net increases to unrecognized tax benefits related to tax positions taken in the prior years of $28 million and $63 million , respectively. The Company provides for interest and penalties related to unrecognized tax benefits in the provision for income taxes. As of December 31, 2017 and 2016, accrued interest and penalties related to unrecognized tax benefits were approximately $41 million and $39 million . In 2017, the Company recognized an increase of approximately $2 million and in 2016 recognized a decrease of approximately $7 million of interest and penalties. The Company and one or more of its subsidiaries file federal income tax returns in Canada, the U.S., and other foreign jurisdictions, as well as various provinces and states in Canada and the U.S. The Company and its subsidiaries have open tax years, primarily from 2005 to 2016, with significant taxing jurisdictions, respectively, including Canada and the U.S. These open years contain certain matters that could be subject to differing interpretations of applicable tax laws and regulations and tax treaties, as they relate to the amount, timing, or inclusion of revenues and expenses, or the sustainability of income tax positions of the Company and its subsidiaries. Certain of these tax years are expected to remain open indefinitely. Jurisdiction: Open Years United States - Federal 2015 - 2017 Canada 2005 - 2016 Germany 2013 - 2016 France 2013 - 2016 China 2015 - 2016 Ireland 2013 - 2016 Netherlands 2015 - 2016 Australia 2011 - 2017 In February 2018, the Company settled the 2013 - 2014 U.S. Federal income tax examination, the adjustments for which were not material. The Company remains under examination for various state tax audits in the U.S. for years 2002 through 2013. The Company is currently under examination by the Canada Revenue Agency for three separate cycles: (a) years 2005 through 2006, (b) years 2007 through 2009 and (c) years 2012 through 2013. In February 2013, the Company received from the Canada Revenue Agency a proposed audit adjustment for the years 2005 through 2007. The Company disagrees with the adjustments and has filed a Notice of Objection. The total proposed adjustment will result in a loss of tax attributes which are subject to a full valuation allowance and will not result in material change to the provision for income taxes. The Canada Revenue Agency audits of the 2010 and 2011 tax years were closed in 2016, and resulted in no material adjustments. In 2014, the Company’s subsidiaries in Australia were notified that the Australian Taxation Office would conduct an audit of the 2010 and 2011 tax years. The Company’s subsidiaries in Australia are under audit by the Australian Taxation Office for various years beginning in 2010. On August 8, 2017, the Australian Taxation Office issued a notice of assessment for the tax years 2011 through 2017 in the aggregate amount of $117 million , which includes penalties and interest. The Company disagrees with the assessment and continues to believe that its tax positions are appropriate and supported by the facts, circumstances and applicable laws. The Company intends to defend its tax position in this matter vigorously. To this end, the Company has filed a holding objection against the assessment by the Australian Taxation Office and intends to file an objection in March of 2018. Additionally, the Company secured a bank guarantee to cover any potential cash outlays regarding this assessment. The following table presents a reconciliation of the unrecognized tax benefits for 2017, 2016 and 2015 : (in millions) 2017 2016 2015 Balance, beginning of year $ 423 $ 344 $ 345 Acquisition of Salix — — 15 Additions based on tax positions related to the current year 145 16 5 Additions for tax positions of prior years 57 96 23 Reductions for tax positions of prior years (18 ) (20 ) (39 ) Lapse of statute of limitations (9 ) (13 ) (5 ) Balance, end of year $ 598 $ 423 $ 344 The Company estimates that unrecognized tax benefits realized during the next 12 months will not be material.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc. for 2017, 2016 and 2015 were calculated as follows: (in millions, except per share amounts) 2017 2016 2015 Net income (loss) attributable to Valeant Pharmaceuticals International, Inc. $ 2,404 $ (2,409 ) $ (292 ) Basic weighted-average number of common shares outstanding 350.2 347.3 342.7 Diluted effect of stock options, RSUs and other 1.6 — — Diluted weighted-average number of common shares outstanding 351.8 347.3 342.7 Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc. Basic $ 6.86 $ (6.94 ) $ (0.85 ) Diluted $ 6.83 $ (6.94 ) $ (0.85 ) In 2016 and 2015, all potential common shares issuable for stock options and RSUs were excluded from the calculation of diluted loss per share, as the effect of including them would have been anti-dilutive. The dilutive effect of potential common shares issuable for stock options and RSUs on the weighted-average number of common shares outstanding would have been as follows: (in millions) 2016 2015 Basic weighted-average number of common shares outstanding 347.3 342.7 Dilutive effect of stock options and RSUs 2.8 6.1 Diluted weighted-average number of common shares outstanding 350.1 348.8 In 2017, 2016 and 2015 , stock options, time-based RSUs and performance-based RSUs to purchase approximately 7,050,000 , 7,825,000 and 1,587,000 common shares of the Company, respectively, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive under the treasury stock method.

SUPPLEMENTAL CASH FLOW DISCLOSU

SUPPLEMENTAL CASH FLOW DISCLOSURES	12 Months Ended
	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES The Supplemental cash flow disclosures for 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Non-Cash Investing and Financing Activities Contingent and deferred consideration for businesses acquired, at fair value $ — $ — $ 1,696 Debt assumed in acquisition of businesses, at fair value $ — $ — $ 3,129 Other Payments Interest paid $ 1,708 $ 1,718 $ 1,269 Income taxes paid $ 179 $ 149 $ 95

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	LEGAL PROCEEDINGS From time to time, the Company becomes involved in various legal and administrative proceedings, which include product liability, intellectual property, commercial, antitrust, governmental and regulatory investigations, related private litigation and ordinary course employment-related issues. From time to time, the Company also initiates actions or files counterclaims. The Company could be subject to counterclaims or other suits in response to actions it may initiate. The Company believes that the prosecution of these actions and counterclaims is important to preserve and protect the Company, its reputation and its assets. Certain of these proceedings and actions are described below. On a quarterly basis, the Company evaluates developments in legal proceedings, potential settlements and other matters that could increase or decrease the amount of the liability accrued. As of December 31, 2017 , the Company's consolidated balance sheet includes accrued current loss contingencies of $243 million and non-current loss contingencies of $20 million related to matters which are both probable and reasonably estimable. For all other matters, unless otherwise indicated, the Company cannot reasonably predict the outcome of these legal proceedings, nor can it estimate the amount of loss, or range of loss, if any, that may result from these proceedings. An adverse outcome in certain of these proceedings could have a material adverse effect on the Company’s business, financial condition and results of operations, and could cause the market value of its common shares and/or debt securities to decline. Governmental and Regulatory Inquiries Letter from the U.S. Department of Justice Civil Division and the U.S. Attorney’s Office for the Eastern District of Pennsylvania The Company has received a letter dated September 10, 2015 from the U.S. Department of Justice Civil Division and the U.S. Attorney’s Office for the Eastern District of Pennsylvania stating that they are investigating potential violations of the False Claims Act arising out of Biovail Pharmaceuticals, Inc.'s treatment of certain service fees under agreements with wholesalers when calculating and reporting Average Manufacturer Prices in connection with the Medicaid Drug Rebate Program. The letter requests that the Company voluntarily produce documents and information relating to the investigation. The Company produced certain documents and clarifying information in response to the government’s request and is cooperating with the government’s investigation. The Company cannot predict the outcome or the duration of this investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of these investigations. Investigation by the U.S. Attorney's Office for the District of Massachusetts In October 2015, the Company received a subpoena from the U.S. Attorney's Office for the District of Massachusetts, and, in June 2016, the Company received a follow up subpoena. The materials requested, pursuant to the subpoenas and follow-up requests, include documents and witness interviews with respect to the Company’s patient assistance programs and contributions to patient assistance organizations that provide financial assistance to Medicare patients taking products sold by the Company, and the Company’s pricing of its products. The Company is cooperating with this investigation. The Company cannot predict the outcome or the duration of this investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of this investigation. Investigation by the U.S. Attorney's Office for the Southern District of New York In October 2015, the Company received a subpoena from the U.S. Attorney's Office for the Southern District of New York. The materials requested, pursuant to the subpoena and follow-up requests, include documents and witness interviews with respect to the Company’s patient assistance programs; its former relationship with Philidor and other pharmacies; the Company’s accounting treatment for sales by specialty pharmacies; information provided to the Centers for Medicare and Medicaid Services; the Company’s pricing (including discounts and rebates), marketing and distribution of its products; the Company’s compliance program; and employee compensation. The Company is cooperating with this investigation. The Company cannot predict the outcome or the duration of this investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of this investigation. SEC Investigation Beginning in November 2015, the Company has received from the staff of the Los Angeles Regional Office of the SEC subpoenas for documents, as well as various document, testimony and interview requests, related to its investigation of the Company, including requests concerning the Company's former relationship with Philidor, its accounting practices and policies, its public disclosures and other matters. The Company is cooperating with the SEC in this matter. The Company cannot predict the outcome or the duration of the SEC investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of the SEC investigation. Investigation by the State of North Carolina Department of Justice In the beginning of March 2016, the Company received an investigative demand from the State of North Carolina Department of Justice. The materials requested relate to the Company's Nitropress ® , Isuprel ® and Cuprimine ® products, including documents relating to the production, marketing, distribution, sale and pricing of, and patient assistance programs covering, such products, as well as issues relating to the Company's pricing decisions for certain of its other products. The Company is cooperating with this investigation. The Company cannot predict the outcome or the duration of this investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of this investigation. Request for Information from the AMF On April 12, 2016, the Company received a request letter from the Autorité des marchés financiers (the “AMF”) requesting documents concerning the work of the Company’s ad hoc committee of independent directors (the “Ad Hoc Committee”) (established to review certain allegations regarding the Company’s former relationship with Philidor and related matters), the Company’s former relationship with Philidor, the Company's accounting practices and policies and other matters. The Company is cooperating with the AMF in this matter. The Company has not received any notice of investigation from the AMF, and the Company cannot predict whether any investigation will be commenced by the AMF or, if commenced, whether any enforcement action against the Company would result from any such investigation. Investigation by the California Department of Insurance On or about September 16, 2016, the Company received an investigative subpoena from the California Department of Insurance. The materials requested include documents concerning the Company’s former relationship with Philidor and certain California-based pharmacies, the marketing and distribution of its products in California, the billing of insurers for its products being used by California residents, and other matters. The Company is cooperating with this investigation. The Company cannot predict the outcome or the duration of this investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of this investigation. Investigation by the State of Texas On May 27, 2014, the State of Texas served Bausch & Lomb Incorporated (“B&L Inc.”) with a Civil Investigative Demand concerning various price reporting matters relating to the State's Medicaid program and the amounts the State paid in reimbursement for B&L products for the period from 1995 to the date of the Civil Investigative Demand. The Company and B&L Inc. have cooperated fully with the State's investigation and have produced all of the documents requested by the State. In April 2016, the State sent B&L Inc. a demand letter claiming damages in the amount of $20 million . The Company and B&L Inc. have evaluated the letter and disagree with the allegations and methodologies set forth in the letter. The Company and B&L Inc. have responded to the State and are awaiting further response from the State. California Department of Insurance Investigation On May 4, 2016, B&L International, Inc. (“B&L International”) received from the Office of the California Insurance Commissioner an administrative subpoena to produce books, records and documents. On September 1, 2016, a revised and corrected subpoena, issued to B&L Inc., was received naming that entity in place of B&L International and seeking additional books records and documents. The requested books, records and documents are being requested in connection with an investigation by the California Department of Insurance and relate to, among other things, consulting agreements and financial arrangements between Bausch & Lomb Holdings Incorporated and its subsidiaries (“B&L”) and health care professionals in California, the provision of ocular equipment, including the Victus ® femtosecond laser platform, by B&L to health care professionals in California and prescribing data for prescriptions written by health care professionals in California for certain of B&L’s products, including the Crystalens ® , Lotemax ® , Besivance ® and Prolensa ® . B&L Inc. and the Company are cooperating with the investigation. The Company cannot predict the outcome or the duration of this investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of this investigation. Securities and RICO Class Actions Valeant U.S. Securities Litigation From October 22, 2015 to October 30, 2015, four putative securities class actions were filed in the U.S. District Court for the District of New Jersey against the Company and certain current or former officers and directors. Those four actions, captioned Potter v. Valeant Pharmaceuticals International, Inc. et al. (Case No. 15-cv-7658), Chen v. Valeant Pharmaceuticals International, Inc. et al. (Case No. 15-cv-7679), Yang v. Valeant Pharmaceuticals International, Inc. et al. (Case No. 15-cv-7746), and Fein v. Valeant Pharmaceuticals International, Inc. et al. (Case No. 15-cv-7809), all asserted securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) on behalf of putative classes of persons who purchased or otherwise acquired the Company’s stock during various time periods between February 28, 2014 and October 21, 2015. The allegations relate to, among other things, allegedly false and misleading statements and/or failures to disclose information about the Company’s business and prospects, including relating to drug pricing, the Company’s use of specialty pharmacies, and the Company’s relationship with Philidor. On May 31, 2016, the Court entered an order consolidating the four actions under the caption In re Valeant Pharmaceuticals International, Inc. Securities Litigation, Case No. 3:15-cv-07658, and appointing a lead plaintiff and lead plaintiff’s counsel. On June 24, 2016, the lead plaintiff filed a consolidated complaint naming additional defendants and asserting additional claims based on allegations of false and misleading statements and/or omissions similar to those in the initial complaints. Specifically, the consolidated complaint asserts claims under Sections 10(b) and 20(a) of the Exchange Act against the Company, and certain current or former officers and directors, as well as claims under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (the “Securities Act”) against the Company, certain current or former officers and directors, and certain other parties. The lead plaintiff seeks to bring these claims on behalf of a putative class of persons who purchased the Company’s equity securities and senior notes in the United States between January 4, 2013 and March 15, 2016, including all those who purchased the Company’s securities in the United States in the Company’s debt and stock offerings between July 2013 to March 2015. On September 13, 2016, the Company and the other defendants moved to dismiss the consolidated complaint. Briefing on the Company's motion was completed on January 13, 2017. On April 28, 2017, the Court dismissed certain claims arising out of the Company's private placement offerings and otherwise denied the motions to dismiss. Defendants' answers to the consolidated complaint were filed on August 18, 2017. In addition to the consolidated putative class action, twenty-six groups of individual investors in the Company’s stock and debt securities at this point have chosen to opt out of the consolidated putative class action and filed securities actions in the U.S. District Court for the District of New Jersey against the Company and certain current or former officers and directors and other such proceedings may be initiated or asserted. These actions are captioned: T. Rowe Price Growth Stock Fund, Inc. v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-5034); Equity Trustees Limited as Responsible Entity for T. Rowe Price Global Equity Fund v. Valeant Pharmaceuticals International Inc. (Case No. 16-cv-6127); Principal Funds, Inc. v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-6128); BloombergSen Partners Fund LP v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-7212); Discovery Global Citizens Master Fund, Ltd. v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-7321); MSD Torchlight Partners, L.P. v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-7324); BlueMountain Foinaven Master Fund, L.P. v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-7328); Incline Global Master LP v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-7494); VALIC Company I v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-7496); Janus Aspen Series v. Valeant Pharmaceuticals International, Inc. (Case No. 16-cv-7497) (“Janus Aspen”); Okumus Opportunistic Value Fund, LTD v. Valeant Pharmaceuticals International, Inc. (Case No. 17-cv-6513) (“Okumus”); Lord Abbett Investment Trust- Lord Abbett Short Duration Income Fund, v. Valeant Pharmaceuticals International, Inc. (Case No. 17-cv-6365) (“Lord Abbett”); Pentwater Equity Opportunities Master Fund LTD v. Valeant Pharmaceuticals International, Inc., et al. (Case No. 17-cv-7552), Public Employees’ Retirement System of Mississippi v. Valeant Pharmaceuticals International Inc. (Case No. 17-cv-7625) (“Mississippi”); The Boeing Company Employee Retirement Plans Master Trust v. Valeant Pharmaceuticals International Inc., et al., (Case No. 17-cv-7636) (“Boeing”); State Board of Administration of Florida v. Valeant Pharmaceuticals International Inc. (Case No. 17-cv-12808); The Regents of the University of California v. Valeant Pharmaceuticals International, Inc. (Case No. 17-cv-13488); GMO Trust v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-0089); Första AP Fonden v. Valeant Pharmaceuticals International, Inc. (Case No. 17-cv-12088); New York City Employees’ Retirement System v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-0032) (“NYCERS”); Blackrock Global Allocation Fund, Inc. v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-0343) (“Blackrock”); Colonial First State Investments Limited As Responsible Entity for Commonwealth Global Shares Fund 1 v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-0383); Bharat Ahuja v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-0846); Brahman Capital Corp. v. Valeant Pharmaceuticals International, Inc (Case No. 18-cv-0893); The Prudential Insurance Company of America v. Valeant Pharmaceuticals International, Inc. (Case No. 3:18-cv-01223) (“Prudential”); and Senzar Healthcare Master Fund LP v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-02286)). In addition, one group of individual investors in the Company’s stock securities has chosen to opt out of the consolidated putative class action and filed a securities action in the U.S. District Court for the Southern District of New York against the Company and certain current or former officers and directors. This action is captioned: Hound Partners Offshore Fund, LP v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-0076) (“Hound Partners”). These individual shareholder actions assert claims under Sections 10(b), 18, and 20(a) of the Exchange Act, Sections 11, 12(a)(2), and 15 of the Securities Act, common law fraud, and negligent misrepresentation under state law, based on alleged purchases of Valeant stock, options, and/or debt at various times between January 3, 2013 and August 10, 2016. Plaintiffs in the Lord Abbett, Boeing, Mississippi, NYCERS, and Hound Partners cases additionally assert claims under the New Jersey Racketeer Influenced and Corrupt Organizations Act. The allegations in the complaints are similar to those made by plaintiffs in the putative class action. Plaintiffs in the Janus Aspen action amended the complaint on April 28, 2017. Defendants filed motions for partial dismissal in ten individual actions in the U.S. District Court for the District of New Jersey on June 16, 2017. Briefing of those motions was completed on August 25, 2017. On January 12, 2018, the Court dismissed the negligent misrepresentation claims and otherwise denied the motions for partial dismissal. On October 19, 2017, the U.S. District Court for the District of New Jersey entered an order requesting briefs from the parties regarding whether the Court should stay the putative securities class action and the individual securities law actions filed in the District of New Jersey until after the resolution of criminal proceedings against Andrew Davenport and Gary Tanner. The Court's order immediately stayed all deadlines, briefing schedules, and discovery in securities actions pending completion of the briefing and the Court’s decision. The Court directed the parties to file briefs either supporting or opposing the stay, with such briefs to be concluded by November 8, 2017. On November 29, 2017, the Court entered an order staying all proceedings and discovery, except for a document production in the putative securities class action and the briefing and resolution of any motions to dismiss, in the putative securities class action and all current and subsequent related individual securities law actions filed in the District of New Jersey. Defendants filed motions for partial dismissal in the Lord Abbett, Mississippi, and Boeing cases on December 6, 2017. Briefing on those motions will be completed by March 15, 2018. Defendants filed actions for partial dismissal in the Okumus case in December 18, 2017. On February 1, 2018, the parties filed a stipulation and proposed order in the Okumus case that would withdraw Defendants’ motions for partial dismissal, and dismiss Okumus’ state-law claims. The Court entered that stipulation on February 2, 2018. Defendants filed a motion for partial dismissal in the Pentwater case on February 13, 2018. Briefing on that motion will be completed by March 27, 2018. Defendants filed motions for partial dismissal in the NYCERS and Blackrock cases on February 23, 2018. Briefing on those motions will be completed by April 30, 2018. The Company believes the individual complaints and the consolidated putative class action are without merit and intends to defend itself vigorously. Canadian Securities Class Actions In 2015, six putative class actions were filed and served against the Company in Canada in the provinces of British Columbia, Ontario and Quebec. These actions are captioned: (a) Alladina v. Valeant, et al. (Case No. S-1594B6) (Supreme Court of British Columbia) (filed November 17, 2015); (b) Kowalyshyn v. Valeant, et al. (CV-15-540593-00CP) (Ontario Superior Court) (filed November 16, 2015); (c) Kowalyshyn et al. v. Valeant, et al. (CV-15-541082-00CP (Ontario Superior Court) (filed November 23, 2015); (d) O’Brien v. Valeant et al. (CV-15-543678-00CP) (Ontario Superior Court) (filed December 30, 2015); (e) Catucci v. Valeant, et al. (Court File No. 540-17-011743159) (Quebec Superior Court) (filed October 26, 2015); and (f) Rousseau-Godbout v. Valeant, et al. (Court File No. 500-06-000770-152) (Quebec Superior Court) (filed October 27, 2015). The Alladina, Kowalyshyn, O’Brien, Catucci and Rousseau-Godbout actions also name, among others, certain current or former directors and officers of the Company. The Rosseau-Godbout action was subsequently stayed by the Quebec Superior Court by consent order. Each of the five remaining actions alleges violations of Canadian provincial securities legislation on behalf of putative classes of persons who purchased or otherwise acquired securities of the Company for periods commencing as early as January 1, 2013 and ending as late as November 16, 2015. The alleged violations relate to, among other things, alleged misrepresentations and/or failures to disclose material information about the Company’s business and prospects, relating to drug pricing, the Company’s policies and accounting practices, the Company’s use of specialty pharmacies and, in particular, the Company’s relationship with Philidor. The Alladina, Kowalyshyn and O’Brien actions also assert common law claims for negligent misrepresentation, and the Alladina claim additionally asserts common law negligence, conspiracy, and claims under the British Columbia Business Corporations Act, including the statutory oppression remedies in that legislation. The Catucci action asserts claims under the Quebec Civil Code, alleging the Company breached its duty of care under the civil standard of liability contemplated by the Code. The Company is aware of two additional putative class actions that have been filed with the applicable court but which have not yet been served on the Company. These actions are captioned: (i) Okeley v. Valeant, et al. (Case No. S-159991) (Supreme Court of British Columbia) (filed December 2, 2015); and (ii) Sukenaga v Valeant et al. (CV-15-540567-00CP) (Ontario Superior Court) (filed November 16, 2015), and the factual allegations made in these actions are substantially similar to those outlined above. The Company has been advised that the plaintiffs in these actions do not intend to pursue the actions. On June 10, 2016, the Ontario Superior Court of Justice rendered its decision on carriage motions (motions held to determine who will have carriage of the class action) heard on April 8, 2016, provisionally staying the O'Brien action, in favor of the Kowalyshyn action. On September 15, 2016, in response to an arrangement between the plaintiffs in the Kowalyshyn action and the O’Brien action, the court ordered both that the Kowalyshyn action be consolidated with the O’Brien action and that the consolidated action be stayed in favor of the Catucci action pending either the further order of the Ontario court or the determination of the motion for leave in the Catucci action. In the Catucci action, motions for leave under the Quebec Securities Act and for authorization as a class proceeding were heard the week of April 24, 2017, with the motion judge reserving her decision. Prior to that hearing, the parties resolved applications by the defendants concerning jurisdiction and class composition, with the plaintiffs agreeing to revise the definition of the proposed class to exclude claims in respect of Valeant securities purchased in the United States. On August 29, 2017, the judge released her reasons for judgment granting the plaintiffs leave to proceed with their claims under the Quebec Securities Act and authorizing the class proceeding. On October 12, 2017, Valeant and the other defendants filed applications for leave to appeal from certain aspects of the decision authorizing the class proceeding. The applications for leave to appeal were heard on November 22, 2017 and were dismissed on November 30, 2017. On October 26, 2017, the plaintiffs issued their Judicial Application Originating Class Proceedings. The Company believes that it has viable defenses in each of these actions. In each case, the Company intends to defend itself vigorously. Insurance Coverage Lawsuit On December 7, 2017, Valeant filed a lawsuit against its insurance companies that issued insurance policies covering claims made against Valeant, its subsidiaries, and its directors and officers during the 2013-14 and 2015-16 policy periods. The lawsuit is currently pending in the United States District Court for the District of New Jersey (Valeant Pharmaceuticals International, Inc., et al. v. AIG Insurance Company of Canada, et al.; 3:18-CV-00493). In the lawsuit, Valeant seeks coverage for (1) the costs of defending and resolving claims brought by former shareholders and debtholders of Allergan, Inc. in In re Allergan, Inc. Proxy Violation Securities Litigation and Timber Hill LLC, individually and on behalf of all others similarly situated v. Pershing Square Capital Management, L.P., et al. (such matter described below), and (2) costs incurred in the securities and RICO class actions described in this section and certain of the investigations described above. RICO Class Actions Between May 27, 2016 and September 16, 2016, three virtually identical actions were filed in the U.S. District Court for the District of New Jersey against the Company and various third parties, alleging claims under the federal Racketeer Influenced Corrupt Organizations Act (“RICO”) on behalf of a putative class of certain third party payors that paid claims submitted by Philidor for certain Valeant branded drugs between January 2, 2013 and November 9, 2015 (Airconditioning and Refrigeration Industry Health and Welfare Trust Fund et al. v. Valeant Pharmaceuticals International. Inc. et al., No. 3:16-cv-03087, Plumbers Local Union No. 1 Welfare Fund v. Valeant Pharmaceuticals International Inc. et al., No. 3:16-cv-3885 and N.Y. Hotel Trades Council et al v. Valeant Pharmaceuticals International. Inc. et al., No. 3:16-cv-05663). On November 30, 2016, the Court entered an order consolidating the three actions under the caption In re Valeant Pharmaceuticals International, Inc. Third-Party Payor Litigation , No. 3:16-cv-03087. A consolidated class action complaint was filed on December 14, 2016. The consolidated complaint alleges, among other things, that the Defendants committed predicate acts of mail and wire fraud by submitting or causing to be submitted prescription reimbursement requests that misstated or omitted facts regarding (1) the identity and licensing status of the dispensing pharmacy; (2) the resubmission of previously denied claims; (3) patient co-pay waivers; (4) the availability of generic alternatives; and (5) the insured’s consent to renew the prescription. The complaint further alleges that these acts constitute a pattern of racketeering or a racketeering conspiracy in violation of the RICO statute and caused plaintiffs and the putative class unspecified damages, which may be trebled under the RICO statute. The Company moved to dismiss the consolidated complaint on February 13, 2017. Briefing of the motion was completed on May 17, 2017. On March 14, 2017, other defendants filed a motion to stay the RICO class action pending the resolution of criminal proceedings against Andrew Davenport and Gary Tanner. The Company did not oppose the motion to stay. On August 9, 2017, the Court granted the motion to stay and entered an order staying all proceedings in the case and accordingly terminating other pending motions. The Company believes these claims are without merit and intends to defend itself vigorously. Antitrust Contact Lens Antitrust Class Actions Beginning in March 2015, a number of civil antitrust class action suits were filed by purchasers of contact lenses against B&L Inc., three other contact lens manufacturers, and a contact lens distributor, alleging that the defendants engaged in an anticompetitive scheme to eliminate price competition on certain contact lens lines through the use of unilateral pricing policies. The plaintiffs in such suits alleged violations of Section 1 of the Sherman Act, 15 U.S.C. § 1, and of various state antitrust and consumer protection laws, and further alleged that the defendants have been unjustly enriched through their alleged conduct. The plaintiffs sought declaratory and injunctive relief and, where applicable, treble, punitive and/or other damages, including attorneys’ fees. By order dated June 8, 2015, the JPML centralized the suits in the Middle District of Florida, under the caption In re Disposable Contact Lens Antitrust Litigation, Case No. 3:15-md-02626-HES-JRK, before U.S. District Judge Harvey E. Schlesinger. After the Class Plaintiffs filed a corrected consolidated class action complaint on December 16, 2015, the defendants jointly moved to dismiss those complaints. On June 16, 2016, the Court granted the Defendants' motion to dismiss with respect to claims brought under the Maryland Consumer Protection Act, but denied the motion to dismiss with respect to claims brought under Sherman Act, Section 1 and other state laws. The actions are currently in discovery. On March 3, 2017, the Class Plaintiffs filed their motion for class certification. On June 15, 2017, defendants filed a motion to oppose the plaintiffs' class certification motion, as well as motions to exclude plaintiffs' expert reports. Defendants likewise have requested an evidentiary hearing on the motions. The Company intends to vigorously defend all of these actions. Intellectual Property Patent Litigation/Paragraph IV Matters The Company (and/or certain of its affiliates) is also party to certain patent infringement proceedings in the United States and Canada, including as arising from claims filed by the Company (or that the Company anticipates filing within the required time periods) in connection with Notices of Paragraph IV Certification (in the United States) and Notices of Allegation (in Canada) received from third party generic manufacturers respecting their pending applications for generic versions of certain products sold by or on behalf of the Company, including Onexton ® , Relistor ® , Apriso ® , Uceris ® , Carac ® , Cardizem ® and Prolensa ® in the United States and Wellbutrin ® XL and Glumetza ® in Canada, or other similar suits. These matters are proceeding in the ordinary course. In addition, patents covering our branded pharmaceutical products may be challenged in proceedings other than court proceedings, including inter partes review (IPR) at the US Patent & Trademark Office. The proceedings operate under different standards from district court proceedings, and are often completed within 18 months of institution. IPR challenges have been brought against patents covering our branded pharmaceutical products for which we have not yet received a Notice of Paragraph IV Certification. For example, following Acrux DDS’s IPR petition, the US Patent and Trial Appeal Board, in May 2017, instituted inter partes review for an Orange Book-listed patent covering Jublia®. This matter is proceeding in the ordinary course. In addition, on or about February 16, 2016, the Company received a Notice of Paragraph IV Certification dated February 11, 2016, from Actavis Laboratories FL, Inc. (“Actavis”), in which Actavis asserted that the following U.S. patents, each of which is listed in the FDA’s Orange Book for Salix Pharmaceuticals, Inc.’s (“Salix Inc.”) Xifaxan ® tablets, 550 mg, are either invalid, unenforceable and/or will not be infringed by the commercial manufacture, use or sale of Actavis’ generic rifaximin tablets, 550 mg, for which an Abbreviated New Drug Application (“ANDA”) has been filed by Actavis: U.S. Patent No. 8,309,569 (the “‘569 patent”), U.S. Patent No. 8,642,573 (the “‘573 patent”), U.S. Patent No. 8,829,017 (the “‘017 patent”), U.S. Patent No. 8,946,252 (the “‘252 patent”), U.S. Patent No. 8,969,398 (the “‘398 patent”), U.S. Patent No. 7,045,620 (the “‘620 patent”), U.S. Patent No. 7,612,199 (the “‘199 patent”), U.S. Patent No. 7,902,206 (the “‘206 patent”), U.S. Patent No. 7,906,542 (the “‘542 patent”), U.S

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Lease Commitments The Company leases certain facilities, vehicles and equipment principally under operating leases. Rental expense related to operating lease agreements was $77 million , $84 million and $85 million and for 2017 , 2016 and 2015 , respectively. Minimum future rental payments under non-cancelable operating and capital leases for each of the five succeeding years ending December 31 and thereafter are as follows: (in millions) Operating Lease Obligations Capital Lease Obligations 2018 $ 73 $ 2 2019 60 1 2020 50 1 2021 37 1 2022 34 1 Thereafter 132 — Total $ 386 $ 6 Other Commitments The Company has commitments related to capital expenditures of approximately $35 million as of December 31, 2017 . Under certain agreements, the Company may be required to make payments contingent upon the achievement of specific developmental, regulatory, or commercial milestones. In connection with certain business combinations, including the Salix Acquisition, among others, the Company may make contingent consideration payments, as further described in Note 3, "ACQUISITIONS" and Note 6, "FAIR VALUE MEASUREMENTS" . In addition to these contingent consideration payments, as of December 31, 2017 , the Company estimates that it may pay other potential milestone payments and license fees, including sales-based milestones, of up to approximately $935 million over time, in the aggregate, to third parties, primarily consisting of the following: • In connection with certain agreements assumed in the Salix Acquisition which was consummated in April 2015, the Company estimates that it may pay to third parties potential milestones of up to approximately $200 million over time (the majority of which relates to sales-based milestones), in the aggregate. • The Company has made specific regulatory milestone payments related to and shares the profits for brodalumab with AstraZeneca under the terms of the October 2015 license agreement described in Note 3, "ACQUISITIONS" . As of December 31, 2017, the Company may be required to pay up to an additional $20 million in regulatory milestone payments and up to $175 million in sales-related milestone payments in accordance with the October 2015 license agreement. • Under the terms of a March 2010 development and licensing agreement between B&L and Nicox Inc., the Company has exclusive worldwide rights to develop and commercialize, for certain indications, products containing latanoprostene bunod, a nitric oxide donating compound for the treatment of glaucoma and ocular hypertension. The Company may be required to make potential regulatory, commercialization and sales-based milestone payments over time up to $145 million , in the aggregate, as well as royalties on future sales. • Under the term of the 2012 acquisition of Medicis Pharmaceutical Corporation, the Company may be required to make potential regulatory, commercialization and sales-based milestone payments over time up to $145 million , in the aggregate. Due to the nature of these arrangements, the future potential payments related to the attainment of the specified milestones over a period of several years are inherently uncertain. Indemnification Provisions In the normal course of business, the Company enters into agreements that include indemnification provisions for product liability and other matters. These provisions are generally subject to maximum amounts, specified claim periods, and other conditions and limits. As of December 31, 2017 or 2016 , no material amounts were accrued for the Company’s obligations under these indemnification provisions. In addition, the Company is obligated to indemnify its officers and directors in respect of any legal claims or actions initiated against them in their capacity as officers and directors of the Company in accordance with applicable law. Pursuant to such indemnities, the Company is indemnifying certain former officers and directors in respect of certain litigation and regulatory matters.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Reportable Segments During the third quarter of 2016, the Company’s CEO, who is the Company’s Chief Operating Decision Maker, commenced managing the business differently through changes in and reorganizations to the Company’s business structure, including changes to its operating and reportable segments, which necessitated a realignment of the Company's historical segment structure. Pursuant to this change, which was effective in the third quarter of 2016, the Company operates in three operating and reportable segments: (i) Bausch + Lomb/International, (ii) Branded Rx and (iii) U.S. Diversified Products. Effective for the first quarter of 2017, revenues and profits from the Company's operations in Canada, included in the Branded Rx segment in prior periods, are included in the Bausch + Lomb/International segment. Prior period presentations of segment revenues, segment profits and segment assets have been recast to conform to the current segment reporting structure. The following is a brief description of the Company’s segments: • The Bausch + Lomb/International segment consists of: (i) sales in the U.S. of pharmaceutical products, OTC products and medical device products, primarily comprised of Bausch + Lomb products, with a focus on the Vision Care, Surgical, Consumer and Ophthalmology Rx products and (ii) sales in Canada, Europe, Asia, Australia and New Zealand, Latin America, Africa and the Middle East of branded pharmaceutical products, branded generic pharmaceutical products, OTC products, medical device products, and Bausch + Lomb products. • The Branded Rx segment consists of sales in the U.S. of: (i) Salix products (gastrointestinal products), (ii) Ortho Dermatologics (dermatological products) and (iii) oncology (or Dendreon), dentistry and women’s health products (or Sprout). As a result of the divestiture of the Company's equity interest in Dendreon on June 28, 2017 and Sprout on December 20, 2017 , the Company has exited the oncology and women's health business, respectively. • The U.S. Diversified Products segment consists of sales in the U.S. of: (i) pharmaceutical products, OTC products and medical device products in the areas of neurology and certain other therapeutic classes, including aesthetics which includes the Solta business and the Obagi business (the Obagi Sale was completed on November 9, 2017) and (ii) authorized generic products. Segment profit is based on operating income after the elimination of intercompany transactions. Certain costs, such as amortization of intangible assets, asset impairments, in-process research and development costs, restructuring and integration costs, acquisition-related contingent consideration costs and other (income) expense 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 maintains and/or incurs certain assets, liabilities, expenses, gains and losses related to the overall management of the Company, which are not allocated to the other business segments. In addition, 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. Prior period segment financial information has been recast to conform to current segment presentation. Segment Revenues and Profit Segment revenues and profits for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Revenues: Bausch + Lomb/International $ 4,871 $ 4,927 $ 4,937 Branded Rx 2,475 2,828 3,248 U.S. Diversified Products 1,378 1,919 2,262 Total revenues $ 8,724 $ 9,674 $ 10,447 Segment profit: Bausch + Lomb/International $ 1,440 $ 1,483 $ 1,686 Branded Rx 1,361 1,517 1,875 U.S. Diversified Products 994 1,522 1,785 Total segment profit 3,795 4,522 5,346 Corporate (562 ) (690 ) (518 ) Amortization of intangible assets (2,690 ) (2,673 ) (2,257 ) Goodwill impairments (312 ) (1,077 ) — Asset impairments (714 ) (422 ) (304 ) Restructuring and integration costs (52 ) (132 ) (362 ) Acquired in-process research and development costs (5 ) (34 ) (106 ) Acquisition-related contingent consideration 289 13 23 Other income (expense) 353 (73 ) (295 ) Operating income (loss) 102 (566 ) 1,527 Interest income 12 8 4 Interest expense (1,840 ) (1,836 ) (1,563 ) Loss on extinguishment of debt (122 ) — (20 ) Foreign exchange and other 107 (41 ) (103 ) Loss before (benefit from) provision for income taxes $ (1,741 ) $ (2,435 ) $ (155 ) Segment Assets Total assets by segment as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Bausch + Lomb/International $ 13,042 $ 16,201 Branded Rx 18,316 21,143 U.S. Diversified Products 5,467 5,820 36,825 43,164 Corporate 672 365 Total assets $ 37,497 $ 43,529 Capital Expenditures, Depreciation and Amortization of intangible assets, and Asset Impairments Capital expenditures, depreciation and amortization of intangible assets, and asset impairments by segment for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Capital expenditures: Bausch + Lomb/International $ 159 $ 221 $ 197 Branded Rx 5 5 15 U.S. Diversified Products 4 3 5 168 229 217 Corporate 3 6 18 Total capital expenditures $ 171 $ 235 $ 235 Depreciation and amortization of intangible assets: Bausch + Lomb/International $ 666 $ 817 $ 818 Branded Rx 1,798 1,606 1,227 U.S. Diversified Products 369 408 386 2,833 2,831 2,431 Corporate 25 35 36 Total depreciation and amortization of intangible assets $ 2,858 $ 2,866 $ 2,467 Asset impairments: Bausch + Lomb/International $ 165 $ 150 $ 60 Branded Rx 344 218 190 U.S. Diversified Products 205 48 54 714 416 304 Corporate — 6 — Total asset impairments $ 714 $ 422 $ 304 Revenues by Product Category Revenues by product category for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Pharmaceuticals $ 4,377 $ 5,167 $ 6,058 Devices 1,532 1,504 1,480 OTC 1,529 1,581 1,583 Branded and Other Generics 1,157 1,284 1,171 Other revenues 129 138 155 $ 8,724 $ 9,674 $ 10,447 Geographic Information Revenues are attributed to a geographic region based on the location of the customer for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 U.S. and Puerto Rico $ 5,225 $ 6,247 $ 7,063 China 331 300 272 Canada 326 320 334 Japan 223 232 206 Mexico 201 189 204 Poland 201 140 214 Russia 200 165 169 France 188 186 178 Germany 157 157 159 Egypt 152 196 51 Australia 149 176 182 United Kingdom 108 104 105 Brazil 96 105 110 Other 1,167 1,157 1,200 $ 8,724 $ 9,674 $ 10,447 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, 2017 and 2016 were as follows: (in millions) 2017 2016 U.S. and Puerto Rico $ 599 $ 614 Ireland 235 198 Poland 100 81 Canada 98 83 Germany 70 60 Mexico 50 50 Egypt 47 41 France 34 29 Serbia 30 25 China 28 26 Italy 23 19 South Korea 15 14 Other 74 72 $ 1,403 $ 1,312 Major Customers Customers that accounted for 10% or more of total revenues for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 McKesson Corporation 19% 21% 20% AmerisourceBergen Corporation 15% 13% 14% Cardinal Health, Inc. 13% 15% 12%

SUPPLEMENTARY DATA (UNAUDITED)

SUPPLEMENTARY DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
SUPPLEMENTARY DATA (UNAUDITED)	SUPPLEMENTARY DATA (UNAUDITED) Selected unaudited quarterly consolidated financial data are shown below: 2017 (in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Revenue $ 2,109 $ 2,233 $ 2,219 $ 2,163 Expenses 1,898 2,058 2,181 2,485 Operating income (loss) $ 211 $ 175 $ 38 $ (322 ) Net income (loss) attributable to Valeant Pharmaceuticals International, Inc. $ 628 $ (38 ) $ 1,301 $ 513 Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc.: Basic $ 1.80 $ (0.11 ) $ 3.71 $ 1.46 Diluted $ 1.79 $ (0.11 ) $ 3.69 $ 1.45 Net cash provided by operating activities $ 954 $ 268 $ 490 $ 578 2016 (in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Revenue $ 2,372 $ 2,420 $ 2,479 $ 2,403 Expenses 2,306 2,339 3,342 2,253 Operating income (loss) $ 66 $ 81 $ (863 ) $ 150 Net loss attributable to Valeant Pharmaceuticals International, Inc. $ (374 ) $ (302 ) $ (1,218 ) $ (515 ) (Loss) earnings per share attributable to Valeant Pharmaceuticals International, Inc.: Basic $ (1.08 ) $ (0.88 ) $ (3.49 ) $ (1.47 ) Diluted $ (1.08 ) $ (0.88 ) $ (3.49 ) $ (1.47 ) Net cash provided by operating activities $ 556 $ 449 $ 569 $ 512

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2017
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS (in millions) Balance at Beginning of Year Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End of Year Year ended December 31, 2017 Allowance for doubtful accounts $ 80 $ 33 $ 4 $ (20 ) $ 97 Deferred tax asset valuation allowance $ 1,857 $ 221 $ (77 ) $ — $ 2,001 Year ended December 31, 2016 Allowance for doubtful accounts $ 67 $ 57 $ (22 ) $ (22 ) $ 80 Deferred tax asset valuation allowance $ 1,367 $ 627 $ (137 ) $ — $ 1,857 Year ended December 31, 2015 Allowance for doubtful accounts $ 36 $ 39 $ 6 $ (14 ) $ 67 Deferred tax asset valuation allowance $ 859 $ 344 $ 164 $ — $ 1,367 With respect to the deferred tax valuation allowance, the amounts in 2015, 2016 and 2017 charged to other accounts primarily relates to foreign currency fluctuations on debt.

SIGNIFICANT ACCOUNTING POLICI33

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), applied on a consistent basis. In preparing the Company’s consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by management include: provisions for product returns, rebates, chargebacks, discounts and allowances, and distribution fees paid to certain wholesalers; useful lives of amortizable intangible assets and property, plant and equipment; expected future cash flows used in evaluating intangible assets for impairment, assessing compliance with debt covenants and making going concern assessments; reporting unit fair values for testing goodwill for impairment and allocating goodwill to new reporting unit structure on a relative fair value basis; provisions for loss contingencies; provisions for income taxes, uncertain tax positions and realizability of deferred tax assets (including provisional amounts associated with the U.S. tax law change); and the allocation of the purchase price for acquired assets and businesses, including the fair value of contingent consideration. Under certain product manufacturing and supply agreements, management uses information from the Company’s commercialization counterparties to arrive at estimates for future returns, rebates and chargebacks. On an ongoing basis, management reviews its estimates to ensure that these estimates appropriately reflect changes in the Company’s business and new information as it becomes available. If historical experience and other factors used by management to make these estimates do not reasonably reflect future activity, the Company’s consolidated financial statements could be materially impacted.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and those of its subsidiaries and any variable interest entities (“VIEs”) for which the Company is the primary beneficiary. All intercompany transactions and balances have been eliminated.
Reclassifications	Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation. Effective for the first quarter of 2017, revenues and profits from the Company's operations in Canada, previously included in the Branded Rx segment in prior periods, are now included in the Bausch + Lomb/International segment. Prior period presentations of segment revenues, segment profits and segment assets have been recast to conform to the current segment reporting structure.
Acquisitions and Acquisition-Related Contingent Consideration	Acquisition-Related Contingent Consideration Acquisition-related contingent consideration, which primarily consists of potential milestone payments and royalty obligations, is recorded in the consolidated balance sheets at its acquisition date estimated fair value, in accordance with the acquisition method of accounting. The fair value of the acquisition-related contingent consideration is remeasured each reporting period, with changes in fair value recorded in the consolidated statements of operations. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in fair value measurement accounting. Acquisitions Acquired businesses are accounted for using the acquisition method of accounting, which requires that assets acquired and liabilities assumed be recorded at fair value, with limited exceptions. Any excess of the purchase price over the fair value of the net assets acquired is recorded as goodwill. Transaction costs and costs to restructure the acquired company are expensed as incurred. The operating results of the acquired business are reflected in the consolidated financial statements after the date of acquisition. Acquired in-process research and development (“IPR&D”) is recognized at fair value and initially characterized as an indefinite-lived intangible asset, irrespective of whether the acquired IPR&D has an alternative future use. If the acquired net assets do not constitute a business under the acquisition method of accounting, the transaction is accounted for as an asset acquisition and no goodwill is recognized. In an asset acquisition, the amount allocated to acquired IPR&D with no alternative future use is charged to expense at the acquisition date.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The estimated fair values of cash and cash equivalents, trade receivables, accounts payable and accrued liabilities approximate their carrying values due to their short maturity periods. The fair value of acquisition-related contingent consideration is based on estimated discounted future cash flows or Monte Carlo Simulation analyses and assessment of the probability of occurrence of potential future events. The fair values of marketable securities and long-term debt are based on quoted market prices, if available, or estimated discounted future cash flows.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with maturities of three months or less when purchased.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities and trade receivables. The Company invests its excess cash in high-quality, money market instruments and term deposits with varying maturities, but typically less than three months. The Company’s cash and cash equivalents are invested in various investment grade institutional money market accounts and bank term deposits. Deposits held at banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading its risk across multiple counterparties and monitoring the risk profiles of these counterparties. The Company’s trade receivables primarily represent amounts due from wholesale distributors, retail pharmacies, government entities and group purchasing organizations. Outside of the U.S., concentrations of credit risk with respect to trade receivables, which are typically unsecured, are limited due to the number of customers using the Company’s products, as well as their dispersion across many different geographic regions. The Company performs periodic credit evaluations of customers and does not require collateral. The Company monitors economic conditions, including volatility associated with international economies, and related impacts on the relevant financial markets and its business, especially in light of sovereign credit issues. The credit and economic conditions within Italy, Portugal, Spain, Greece, among other members of the European Union, Russia, Brazil, and Egypt have been weak in recent years. In November 2016, as a result of the Egyptian government’s decision to float the Egyptian pound and un-peg it to the U.S. Dollar, the Egyptian pound was significantly devalued. The Company's exposure to the Egyptian pound is with respect to the Amoun Pharmaceutical Company S.A.E. business acquired in October 2015, which represented approximately 2% of the Company's 2017 and 2016 total revenues. These conditions have increased, and may continue to increase, the average length of time that it takes to collect on the Company’s trade receivables outstanding in these countries. An allowance for doubtful accounts is maintained for potential credit losses based on the aging of trade receivables, historical bad debts experience, and changes in customer payment patterns. Trade receivable balances are written off against the allowance when it is deemed probable that the receivable will not be collected.
Inventories	Inventories Inventories comprise raw materials, work in process, and finished goods, which are valued at the lower of cost or net realizable value, on a first-in, first-out basis. The cost value for work in process and finished goods inventories includes materials, direct labor, and an allocation of overheads. The Company evaluates the carrying value of inventories on a regular basis, taking into account such factors as historical and anticipated future sales compared with quantities on hand, the price the Company expects to obtain for products in their respective markets compared with historical cost and the remaining shelf life of goods on hand.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are reported at cost, less accumulated depreciation. Costs incurred on assets under construction are capitalized as construction in progress. Depreciation is calculated using the straight-line method, commencing when the assets become available for productive use, based on the following estimated useful lives: Land improvements 15 - 30 years Buildings Up to 40 years Machinery and equipment 3 - 20 years Other equipment 3 - 7 years Equipment on operating lease Up to 5 years Leasehold improvements and capital leases Lesser of term of lease or 10 years
Intangible Assets	Intangible Assets Intangible assets are reported at cost, less accumulated amortization. Intangible assets with finite lives are amortized over their estimated useful lives. Amortization is calculated primarily using the straight-line method based on the following estimated useful lives: Product brands 2 - 20 years Corporate brands 6 - 20 years Product rights 3 - 15 years Partner relationships 5 - 9 years Out-licensed technology and other 5 - 10 years
Divestitures of Products	Divestitures of Products The Company nets the proceeds on the divestitures of products with the carrying amount of the related assets and records a gain/loss on sale within Other (income) expense, net . Any contingent payments that are potentially due to the Company as a result of these divestitures are recorded when realizable.
IPR&D	IPR&D The fair value of IPR&D acquired through a business combination is capitalized as an indefinite-lived intangible asset until the completion or abandonment of the related research and development activities. When the related research and development is completed, the asset will be assigned a useful life and amortized. The fair value of an IPR&D intangible asset is typically determined using an income approach. This approach starts with a forecast of the net cash flows expected to be generated by the asset over its estimated useful life. The net cash flows reflect the asset’s stage of completion, the probability of technical success, the projected costs to complete, expected market competition and an assessment of the asset’s life-cycle. The net cash flows are then adjusted to present value by applying an appropriate discount rate that reflects the risk factors associated with the expected cash flow streams.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If indicators of impairment are present, the asset is tested for recoverability by comparing the carrying value of the asset to the related estimated undiscounted future cash flows expected to be derived from the asset. If the expected cash flows are less than the carrying value of the asset, then the asset is considered to be impaired and its carrying value is written down to fair value, based on the related estimated discounted future cash flows. Indefinite-lived intangible assets, including acquired IPR&D and the corporate trademark acquired in the acquisition of Bausch & Lomb Holdings Incorporated (the ‘‘B&L Trademark’’), are tested for impairment annually or more frequently if events or changes in circumstances between annual tests indicate that the asset may be impaired. Impairment losses on indefinite-lived intangible assets are recognized based solely on a comparison of the fair value of the asset to its carrying value.
Goodwill	Goodwill Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the values assigned to the assets acquired and liabilities assumed. Goodwill is not amortized but is tested for impairment at least annually as of October 1st at the reporting unit level. A reporting unit is the same as, or one level below, an operating segment. An interim goodwill impairment test in advance of the annual impairment assessment may be required if events occur that indicate an impairment might be present. For example, a substantial decline in the Company’s market capitalization, changes in reportable segments, unexpected adverse business conditions, economic factors and unanticipated competitive activities may signal that an interim impairment test is needed. Accordingly, among other factors, the Company monitors changes in its share price between annual impairment tests. The Company considers a decline in its share price that corresponds to an overall deterioration in stock market conditions to be less of an indicator of goodwill impairment than a unilateral decline in its share price reflecting adverse changes in its underlying operating performance, cash flows, financial condition, and/or liquidity. In the event that the Company’s market capitalization does decline below its book value, the Company would consider the length and severity of the decline and the reason for the decline when assessing whether potential goodwill impairment exists. The Company believes that short-term fluctuations in share prices may not necessarily reflect underlying values. The goodwill impairment test consists of two steps. In step one, the Company compares the carrying value of each reporting unit to its fair value. In step two, if the carrying value of a reporting unit exceeds its fair value, the Company will determine the amount of goodwill impairment as the excess of the carryi ng value of the reporting unit’s goodwill over its fair value, if any. The fair value of goodwill is derived as the excess of the fair value of the reporting unit over the fair value of the reporting unit’s identifiable assets and liabilities.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs are presented in the balance sheet as a direct deduction from the carrying amount of the related debt except for the deferred financing costs associated with revolving-debt arrangements which are presented as assets. Deferred finance costs are amortized using the effective interest method as interest expense over the contractual lives of the related credit facilities.
Foreign Currency Translation	Foreign Currency Translation The assets and liabilities of the Company’s foreign operations having a functional currency other than the U.S. dollar are translated into U.S. dollars at the exchange rate prevailing at the balance sheet date, and at the average exchange rate for the reporting period for revenue and expense accounts. The cumulative foreign currency translation adjustment is recorded as a component of accumulated other comprehensive loss in shareholders’ equity. Foreign currency exchange gains and losses on transactions occurring in a currency other than an operation’s functional currency are recognized in net income (loss).
Revenue Recognition	Revenue Recognition Revenue is realized or realizable and earned when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the customer is fixed or determinable, and collectability is reasonably assured.
Product Sales	The Company recognizes product sales revenue when persuasive evidence of an arrangement exists, delivery has occurred, collectability is reasonably assured, and the price to the buyer is fixed or determinable, the timing of which is based on the specific contractual terms with each customer. Delivery occurs when title has transferred to the customer, and the customer has assumed the risks and rewards of ownership. As such, the Company generally recognizes revenue on a sell-in basis (i.e., record revenue upon delivery); however, based upon specific terms and circumstances, the Company has determined that, for certain arrangements with certain retailers and other third parties, revenue should be recognized on a sell-through basis (i.e., record revenue when products are dispensed to patients). In evaluating the proper revenue recognition for sales transactions, the Company considers all relevant factors, including additional discounts or extended payment terms which the Company grants to certain customers, often near the end of quarterly periods. Revenue from product sales is recognized net of provisions for estimated cash discounts, allowances, returns, rebates, chargebacks and distribution fees paid to certain of the Company’s wholesale customers. The Company establishes these provisions concurrently with the recognition of product sales revenue. Price appreciation credits are generated when the Company increases a product’s wholesaler acquisition cost (“WAC”) under its contracts with certain wholesalers. Under such contracts, the Company is entitled to credits from such wholesalers for the impact of that WAC increase on inventory currently on hand at the wholesalers. Such credits, which can be significant, are used to offset against the total distribution service fees the Company pays on all of its products to each wholesaler. Net revenue on these credits is recognized on the date that the wholesaler is notified of the price increase. The Company offers cash discounts for prompt payment and allowances for volume purchases to customers. Provisions for cash discounts and allowances are estimated based on contractual sales terms with customers, an analysis of unpaid invoices, and historical payment experience. The Company generally allows customers to return product within a specified period of time before and after its expiration date, excluding the Company’s European businesses which generally do not carry a right of return. Provisions for returns are estimated based on historical sales and return levels, taking into account additional available information such as historical return and exchange levels, external data with respect to inventory levels in the wholesale distribution channel, external data with respect to prescription demand for the Company’s products, remaining shelf lives of the Company’s products at the date of sale and estimated returns liability to be processed by year of sale based on analysis of lot information related to actual historical returns. The Company reviews its methodology and adequacy of the provision for returns on a quarterly basis, adjusting for changes in assumptions, historical results and business practices, as necessary. The Company is subject to rebates on sales made under governmental and managed-care programs in the U.S., and chargebacks on sales made to government agencies, group purchasing organizations and other indirect customers. Provisions for rebates and chargebacks are estimated based on historical utilization levels, relevant statutes with respect to governmental pricing programs and contractual sales terms with managed-care providers and group purchasing organizations. Changes in the level of utilization of the Company’s products through private or public benefit plans and group purchasing organizations will impact the amount of rebates and chargebacks that the Company is obligated to pay. The Company is party to product manufacturing and supply agreements with a number of commercialization counterparties in the U.S. Under the terms of these agreements, the Company’s supply prices for its products are determined after taking into consideration estimates for future returns, rebates, and chargebacks provided by each counterparty. The Company makes adjustments, as needed, to state these estimates on a basis consistent with this policy and its methodology for estimating returns, rebates and chargebacks related to its own direct product sales.
Research and Development Expenses	Research and Development Expenses Costs related to internal research and development programs, including costs associated with the development of acquired IPR&D, are expensed as goods are delivered or services are performed. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Before a product receives regulatory approval, milestone payments made to third parties are expensed and included in Research and development expenses when the milestone is achieved . Milestone payments made to third parties after regulatory approval is received are capitalized and amortized over the estimated useful life of the approved product. Amounts due from third parties as reimbursement of development activities conducted under certain research and development arrangements are recognized as a reduction of Research and development expenses.
Legal Costs	Legal Costs Legal fees and other costs related to litigation and other legal proceedings are expensed as incurred and are included in Selling, general and administrative expenses. Certain legal costs associated with acquisitions are included in Acquisition-related costs, and certain legal costs associated with divestitures, legal settlements and other business development activities are included in Other (income) expense, net or Gain on investments, net, as appropriate. Legal costs expensed are reported net of expected insurance recoveries. A claim for insurance recovery is recognized when realization becomes probable
Advertising Costs	Advertising Costs Advertising costs comprise product samples, print media, promotional materials and television advertising. Advertising costs related to new product launches are expensed on the first use of the advertisement.
Share-Based Compensation	Share-Based Compensation The Company recognizes all share-based payments to employees, including grants of employee stock options and restricted share units (“RSUs”), at estimated fair value. The Company amortizes the fair value of stock option or RSU grants on a straight-line basis over the requisite service period of the individual stock option or RSU grant, which generally equals the vesting period. Stock option and RSU forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Share-based compensation is recorded in Research and development expenses, Selling, general and administrative expenses and Other (income) expense, net , as appropriate.
Interest Expense	Interest Expense Interest expense includes standby fees and the amortization of debt discounts and deferred financing costs. Interest costs are expensed as incurred, except to the extent such interest is related to construction in progress, in which case interest is capitalized.
Income Taxes	Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the differences between the financial statement and income tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. A valuation allowance is provided for the portion of deferred tax assets that is more likely than not to remain unrealized. Deferred tax assets and liabilities are measured using enacted tax rates and laws. Deferred tax assets for outside basis differences in investments in subsidiaries are only recognized if the difference will be realized in the foreseeable future. The tax benefit from an uncertain tax position is recognized only if it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority, based on the technical merits of the position. The tax benefits recognized from such position are measured based on the amount that is greater than 50% likely of being realized upon settlement. Liabilities associated with uncertain tax positions are classified as long-term unless expected to be paid within one year. Interest and penalties related to uncertain tax positions, if any, are recorded in the provision for income taxes and classified with the related liability on the consolidated balance sheets.
Earnings Per Share	Earnings Per Share Basic earnings per share attributable to Valeant Pharmaceuticals International, Inc. is calculated by dividing net income attributable to Valeant Pharmaceuticals International, Inc. by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is calculated by dividing net income attributable to Valeant Pharmaceuticals International, Inc. by the weighted-average number of common shares outstanding during the reporting period after giving effect to dilutive potential common shares for stock options and RSUs, determined using the treasury stock method.
Comprehensive Income	Comprehensive Income Comprehensive income comprises net income and other comprehensive income. Other comprehensive income includes items such as foreign currency translation adjustments, unrealized holding gains and losses on available-for-sale and other investments and certain pension and other postretirement benefit plan adjustments. Accumulated other comprehensive income is recorded as a component of shareholders’ equity.
Contingencies	Contingencies In the normal course of business, the Company is subject to loss contingencies, such as claims and assessments arising from litigation and other legal proceedings, contractual indemnities, product and environmental liabilities, and tax matters. Accruals for loss contingencies are recorded when the Company determines that it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. If the estimate of the amount of the loss is a range and some amount within the range appears to be a better estimate than any other amount within the range, that amount is accrued as a liability. If no amount within the range is a better estimate than any other amount, the minimum amount of the range is accrued as a liability. These accruals are adjusted periodically as assessments change or additional information becomes available. If no accrual is made for a loss contingency because the amount of loss cannot be reasonably estimated, the Company will disclose contingent liabilities when there is at least a reasonable possibility that a loss or an additional loss may have been incurred. Certain legal-related contingencies assumed in the acquisition of Salix Pharmaceuticals, Ltd. (“Salix”) were recorded at estimated fair value.
Employee Benefit Plans	Employee Benefit Plans The Company sponsors various retirement and pension plans, including defined benefit pension plans, defined contribution plans and a participatory defined benefit postretirement plan. The determination of defined benefit pension and postretirement plan obligations and their associated expenses requires the use of actuarial valuations to estimate the benefits employees earn while working, as well as the present value of those benefits. Net actuarial gains and losses that exceed 10 percent of the greater of the plan’s projected benefit obligations or the market-related value of assets are amortized to earnings over the shorter of the estimated average future service period of the plan participants (or the estimated average future lifetime of the plan participants if the majority of plan participants are inactive) or the period until any anticipated final plan settlements.
Adoption of New Accounting Standards and Recently Issued Accounting Standards, Not Adopted	Adoption of New Accounting Standards In August 2016, the Financial Accounting Standards Board (the “FASB”) issued guidance which adds or clarifies the classification of certain cash receipts and payments in the statement of cash flows (including debt repayment or debt extinguishment costs, contingent consideration payment after a business combination, and distributions received from equity method investees). The guidance was effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption was permitted. The Company adopted this amended guidance in 2017 which did not have a material impact on the presentation of the Company's cash flows for the periods presented. In October 2016, the FASB amended the guidance as to how a reporting entity that is the single decision maker of a VIE should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The amended guidance was effective for annual reporting periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted this amended guidance as of January 1, 2017 which did not have a material impact on the presentation of the Company's results of operations, cash flows or financial position for the periods presented. In November 2016, the FASB issued guidance which requires entities to include restricted cash in cash and cash equivalent balances on the statement of cash flows and disclose a reconciliation between the balances on the statement of cash flows and the balance sheet. The guidance was effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption was permitted. The Company adopted this amended guidance in 2017 on a retrospective basis, which did not have a material impact on the presentation of the Company's cash flows for the periods presented. In May 2017, the FASB issued guidance identifying the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting. The guidance was effective for annual periods beginning after December 15, 2017. The Company has not modified any outstanding awards, and therefore, does not have modification accounting. The Company has adopted this guidance in the fourth quarter of 2017 and concluded it did not have a material impact its financial position, results of operations, cash flows and disclosures for the periods presented. In December 2017, the U.S. Securities and Exchange Commission (the "SEC") issued guidance for situations where the accounting for certain elements of the Tax Act cannot be completed prior to the release of an entity's financial statements. For the specific elements of the Tax Act where a reasonable estimate of the tax effects cannot be completed, no effect will be recorded in the current period. The guidance provides a measurement period to allow an entity to account for these specific elements, which begins in the reporting period that includes the enactment of the Tax Act and ends when the entity has obtained, prepared and analyzed the information needed in order to complete its accounting assessments. The resulting tax effects must be recognized in the period the assessment is complete, and included in income tax provision or benefit, accompanied by appropriate disclosures. The measurement period shall not exceed one year from enactment, December 22, 2018. In January 2018, the FASB issued guidance to account for the global intangible low-taxed income ("GILTI") provisions of the Tax Act, which imposes a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The guidance provides that an entity may elect to: (i) currently recognize deferred taxes for basis differences that are expected to reverse as GILTI inclusions in future years or (ii) recognize GILTI inclusions as period costs if and when incurred. The Company has provisionally elected to account for GILTI tax in the period in which it is incurred, and therefore has not provided any deferred tax impacts of GILTI in its consolidated financial statements for the year ended December 31, 2017. Recently Issued Accounting Standards, Not Adopted as of December 31, 2017 In May 2014, the FASB issued guidance on recognizing revenue from contracts with customers. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the revenue model to contracts within its scope, an entity will: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In addition to these provisions, the new standard provides implementation guidance on several other topics, including the accounting for certain revenue-related costs, as well as enhanced disclosure requirements. The new guidance requires entities to disclose both quantitative and qualitative information that enables users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In March 2016, the FASB issued an amendment to clarify the implementation guidance around considerations whether an entity is a principal or an agent, impacting whether an entity reports revenue on a gross or net basis. In April 2016, the FASB issued an amendment to clarify guidance on identifying performance obligations and the implementation guidance on licensing. The guidance is effective for annual reporting periods beginning after December 15, 2017. Early application was permitted but not before the annual reporting period, including adoption in an interim period, beginning January 1, 2017. Entities have the option of using either a full retrospective or a modified approach to adopt the guidance. The Company has completed its detailed assessment program and a training program for its personnel. Pursuant to the detailed assessment program, the Company reviewed selected revenue arrangements and assessed the differences in accounting for such contracts under the new guidance as compared with current revenue accounting standards. Based on this review of current customer contracts, the Company does not expect the implementation of the new guidance to have a material quantitative impact on its consolidated financial statements as the timing of revenue recognition for product sales is not expected to significantly change. The Company also completed its assessment of the impact to the design of its internal controls over financial reporting and is in the process of completing its assessment of the impact to its disclosures, which will be completed in the first reporting period post adoption. The Company will adopt the new guidance using the modified retrospective approach, under which the new guidance will be adopted retrospectively with the cumulative effect of initial application of the guidance recognized on the date of initial application (which is January 1, 2018). In February 2016, the FASB issued guidance on leases. This guidance will increase transparency and comparability among organizations that lease buildings, equipment, and other assets by recognizing the assets and liabilities that arise from lease transactions. Current off-balance sheet leasing activities will be required to be reflected on balance sheets so that investors and other users of financial statements can more readily and accurately understand the rights and obligations associated with these transactions. Consistent with the current lease standard, the new guidance addresses two types of leases: finance leases and operating leases. Finance leases will be accounted for in substantially the same manner as capital leases are accounted for under current U.S. GAAP. Operating leases will be accounted for (both in the statement of operations and statement of cash flows) in a manner consistent with operating leases under existing U.S. GAAP. However, as it relates to the balance sheet, lessees will recognize lease liabilities based upon the present value of remaining lease payments and corresponding lease assets for operating leases with limited exception. The new guidance will also require lessees and lessors to provide additional qualitative and quantitative disclosures to help financial statement users assess the amount, timing, and uncertainty of cash flows arising from leases. These disclosures are intended to supplement the amounts recorded in the financial statements so that users can understand more about the nature of an organization’s leasing activities. In 2018, the Company has initiated its project plan for adopting this guidance, which includes a detailed assessment program and a training program for its personnel. The new guidance is effective for annual reporting periods beginning after December 15, 2018. Early application is permitted. The Company is evaluating the impact of adoption of this guidance on its financial position, results of operations and disclosures. In June 2016, the FASB issued guidance on the impairment of financial instruments requiring an impairment model based on expected losses rather than incurred losses. Under this guidance, an entity recognizes as an allowance its estimate of expected credit losses. The guidance is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within those annual periods. The Company is evaluating the impact of adoption of this guidance on its financial position, results of operations and cash flows. In October 2016, the FASB issued guidance which removes the prohibition against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The guidance is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The Company estimates the impact of adoption will increase deferred tax assets and equity approximately $1,000 million . In January 2017, the FASB issued guidance which clarifies the definition of a business with the objective of assisting with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted. The Company will apply the new definition to future transactions. In January 2017, the FASB issued guidance which simplifies the subsequent measurement of goodwill by eliminating “Step 2” from the goodwill impairment test. Instead, goodwill impairment will be measured as the amount by which a reporting unit's carrying value exceeds its fair value. The FASB also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. The guidance is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods, with early adoption permitted. The Company may elect to adopt this standard effective the first quarter of 2018. Once adopted, this guidance is expected to have a significant impact on the Company’s financial position, results of operations, and disclosures with respect to the Salix reporting unit. While the fair value of a reporting unit is subject to update for events occurring subsequent to the date of impairment testing, at October 1, 2017, the Salix reporting unit had an estimated fair value of $10,660 million and a carrying value of $13,404 million , including goodwill of $5,127 million

SIGNIFICANT ACCOUNTING POLICI34

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of estimated useful lives of property, plant and equipment	Depreciation is calculated using the straight-line method, commencing when the assets become available for productive use, based on the following estimated useful lives: Land improvements 15 - 30 years Buildings Up to 40 years Machinery and equipment 3 - 20 years Other equipment 3 - 7 years Equipment on operating lease Up to 5 years Leasehold improvements and capital leases Lesser of term of lease or 10 years
Schedule of estimated useful lives of intangible assets	Amortization is calculated primarily using the straight-line method based on the following estimated useful lives: Product brands 2 - 20 years Corporate brands 6 - 20 years Product rights 3 - 15 years Partner relationships 5 - 9 years Out-licensed technology and other 5 - 10 years

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Summary of amounts and useful lives assigned to identifiable intangible assets	The estimated fair values of acquired Identifiable intangible assets, excluding acquired IPR&D is summarized as follows: (in millions) Weighted- Average Useful Lives (Years) Final Fair Value Product brands 7 $ 735 Product rights 3 42 Corporate brands 16 7 Partner relationships 8 8 Technology/know-how 10 284 Other 6 2 Total identifiable intangible assets acquired $ 1,078 The following table summarizes the amounts and useful lives assigned to identifiable intangible assets: (in millions) Weighted- Average Useful Lives (Years) Final Fair Value Product brands 10 $ 6,089 Corporate brand 20 667 Total identifiable intangible assets acquired $ 6,756 The estimated fair values of the acquired identifiable intangible assets, excluding acquired IPR&D, as adjusted, and subject to the finalization of certain working capital provisions were $520 million and consisted of: (in millions) Weighted-Average Useful Lives (Years) Final Fair Value Product brands 9 $ 480 Corporate brand 17 40 Total identifiable intangible assets acquired $ 520
Schedule of estimated fair value of assets acquired and liabilities assumed	The following table provides the fair value of the assets acquired and liabilities assumed in the Salix Acquisition as of the acquisition date. (in millions) Final Fair Value Cash and cash equivalents $ 114 Inventories 232 Other assets 1,410 Property, plant and equipment 24 Identifiable intangible assets, excluding acquired IPR&D 6,756 Acquired IPR&D - Xifaxan ® IBS-D 4,790 Acquired IPR&D - Other 393 Current liabilities (1,939 ) Contingent consideration (334 ) Long-term debt (3,123 ) Deferred income taxes, net of deferred tax assets (3,428 ) Other non-current liabilities (43 ) Total identifiable net assets 4,852 Goodwill 8,280 Total fair value of consideration transferred $ 13,132
Schedule of pro forma impact of merger and acquisition	The following table presents unaudited pro forma consolidated results of operations for 2015, as if the 2015 acquisitions had occurred as of January 1, 2014. (in millions, except per share amounts) 2015 Revenues $ 10,710 Net loss attributable to Valeant Pharmaceuticals International, Inc. $ (619 ) Loss per share attributable to Valeant Pharmaceuticals International, Inc.: Basic $ (1.80 ) Diluted $ (1.80 )

DIVESTITURES (Tables)

DIVESTITURES (Tables)	12 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Components of assets held for sale	The components of assets held for sale, as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Current assets held for sale: Cash $ — $ 1 Trade receivables — 86 Inventories — 147 Other — 27 Current assets held for sale $ — $ 261 Non-current assets held for sale: Identifiable intangible assets $ 12 $ 680 Goodwill — 1,355 Other — 97 Non-current assets held for sale $ 12 $ 2,132

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of components and classification of financial assets and liabilities measured at fair value	The following fair value hierarchy table presents the components and classification of the Company’s financial assets and liabilities measured at fair value as of December 31, 2017 and 2016 : 2017 2016 (in millions) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash equivalents $ 265 $ 230 $ 35 $ — $ 242 $ 179 $ 63 $ — Restricted cash $ 77 $ 77 $ — $ — $ — $ — $ — $ — Liabilities: Acquisition-related contingent consideration $ (387 ) $ — $ — $ (387 ) $ (892 ) $ — $ — $ (892 )
Schedule of reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs	The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for 2017 and 2016 : (in millions) 2017 2016 Beginning balance, January 1, $ 892 $ 1,156 Adjustments to Acquisition-related contingent consideration: Accretion for the time value of money $ 54 $ 92 Fair value adjustments to the expected future royalty payments for Addyi ® (312 ) (18 ) Fair value adjustments due to changes in estimates of other future payments (31 ) (87 ) Acquisition-related contingent consideration (289 ) (13 ) Reclassified to liabilities held for sale and subsequently disposed (168 ) (26 ) Payments / Settlements (49 ) (175 ) Foreign currency translation adjustment included in other comprehensive loss 1 (40 ) Measurement period adjustments to 2015 acquisitions and other — (10 ) Ending balance, December 31, 387 892 Current portion 43 52 Non-current portion $ 344 $ 840
Nonrecurring fair value measurements	The following fair value hierarchy table presents the assets measured at fair value on a non-recurring basis as of December 31, 2017 and 2016 : As of December 31, 2017 As of December 31, 2016 (in millions) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Non-current assets held for sale $ — $ — $ — $ — $ 38 $ — $ — $ 38

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Schedule of the components of inventories	The components of inventories, net of allowance for obsolescence as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Raw materials $ 276 $ 256 Work in process 146 125 Finished goods 626 680 $ 1,048 $ 1,061

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	The major components of property, plant and equipment as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Land $ 84 $ 78 Buildings 687 600 Machinery and equipment 1,436 1,214 Other equipment and leasehold improvements 358 278 Equipment on operating lease 42 42 Construction in progress 226 296 2,833 2,508 Less accumulated depreciation (1,430 ) (1,196 ) $ 1,403 $ 1,312

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of components of finite-lived intangible assets	The major components of intangible assets as of December 31, 2017 and 2016 were as follows: Weighted- Average Useful Lives (Years) 2017 2016 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Product brands 6 $ 20,913 $ (9,281 ) $ 11,632 $ 20,725 $ (6,883 ) $ 13,842 Corporate brands 10 933 (179 ) 754 999 (146 ) 853 Product rights/patents 5 3,310 (2,346 ) 964 4,240 (2,118 ) 2,122 Partner relationships 2 179 (169 ) 10 152 (128 ) 24 Technology and other 4 214 (147 ) 67 252 (160 ) 92 Total finite-lived intangible assets 25,549 (12,122 ) 13,427 26,368 (9,435 ) 16,933 Acquired IPR&D not in service NA 86 — 86 253 — 253 B&L Trademark NA 1,698 — 1,698 1,698 — 1,698 $ 27,333 $ (12,122 ) $ 15,211 $ 28,319 $ (9,435 ) $ 18,884
Schedule of components of indefinite-lived intangible assets	The major components of intangible assets as of December 31, 2017 and 2016 were as follows: Weighted- Average Useful Lives (Years) 2017 2016 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Product brands 6 $ 20,913 $ (9,281 ) $ 11,632 $ 20,725 $ (6,883 ) $ 13,842 Corporate brands 10 933 (179 ) 754 999 (146 ) 853 Product rights/patents 5 3,310 (2,346 ) 964 4,240 (2,118 ) 2,122 Partner relationships 2 179 (169 ) 10 152 (128 ) 24 Technology and other 4 214 (147 ) 67 252 (160 ) 92 Total finite-lived intangible assets 25,549 (12,122 ) 13,427 26,368 (9,435 ) 16,933 Acquired IPR&D not in service NA 86 — 86 253 — 253 B&L Trademark NA 1,698 — 1,698 1,698 — 1,698 $ 27,333 $ (12,122 ) $ 15,211 $ 28,319 $ (9,435 ) $ 18,884
Schedule of estimated aggregate amortization expense for each of the five succeeding years	Estimated amortization of finite-lived intangible assets for the five years ending December 31 and thereafter are as follows: (in millions) 2018 $ 2,921 2019 2,684 2020 2,399 2021 2,045 2022 1,851 Thereafter 1,527 Total $ 13,427
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2017 and 2016 were as follows: (in millions) Developed Markets Emerging Markets Bausch + Lomb/ International Branded Rx U.S. Diversified Products Total Balance, January 1, 2016 $ 16,141 $ 2,412 $ — $ — $ — $ 18,553 Acquisitions 1 — — — — 1 Divestiture of a portfolio of neurology medical device products (36 ) — — — — (36 ) Goodwill related to Ruconest ® reclassified to assets held for sale (37 ) — — — — (37 ) Foreign exchange and other 47 (12 ) — — — 35 Impairment to goodwill of the former U.S. reporting unit (905 ) — — — — (905 ) Realignment of segment goodwill (15,211 ) (2,400 ) 6,708 7,873 3,030 — Impairment to goodwill of the Salix reporting unit — — — (172 ) — (172 ) Divestitures — — (5 ) — — (5 ) Goodwill of certain businesses reclassified to assets held for sale — — (947 ) (431 ) — (1,378 ) Foreign exchange and other — — (257 ) (5 ) — (262 ) Balance, December 31, 2016 — — 5,499 7,265 3,030 15,794 Realignment of segment goodwill — — 264 (264 ) — — Balance, January 1, 2017 — — 5,763 7,001 3,030 15,794 Goodwill reclassified to assets held for sale and subsequently disposed — — (30 ) (61 ) (84 ) (175 ) Impairment — — — (312 ) — (312 ) Foreign exchange and other — — 283 3 — 286 Balance, December 31, 2017 $ — $ — $ 6,016 $ 6,631 $ 2,946 $ 15,593

ACCRUED AND OTHER CURRENT LIA41

ACCRUED AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Payables and Accruals [Abstract]
Schedule of accrued and other current liabilities	Accrued and other current liabilities as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Product rebates $ 1,094 $ 897 Product returns 863 708 Interest 324 337 Employee compensation and benefit costs 259 198 Income taxes payable 202 213 Legal liabilities assumed in the Salix Acquisition 47 281 Other 905 593 $ 3,694 $ 3,227

FINANCING ARRANGEMENTS (Tables)

FINANCING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt	Principal amounts of debt obligations and principal amounts of debt obligations net of discounts and issuance costs as of December 31, 2017 and 2016 consists of the following: 2017 2016 (in millions) Maturity Principal Amount Net of Discounts and Issuance Costs Principal Amount Net of Discounts and Issuance Costs Senior Secured Credit Facilities: Revolving Credit Facility April 2018 $ — $ — $ 875 $ 875 Revolving Credit Facility April 2020 250 250 — — Series A-3 Tranche A Term Loan Facility October 2018 — — 1,032 1,016 Series A-4 Tranche A Term Loan Facility April 2020 — — 668 658 Series D-2 Tranche B Term Loan Facility February 2019 — — 1,068 1,048 Series C-2 Tranche B Term Loan Facility December 2019 — — 823 805 Series E-1 Tranche B Term Loan Facility August 2020 — — 2,456 2,429 Series F Tranche B Term Loan Facility April 2022 3,521 3,420 3,892 3,815 Senior Secured Notes: 6.50% Secured Notes March 2022 1,250 1,235 — — 7.00% Secured Notes March 2024 2,000 1,975 — — 5.50% Secured Notes November 2025 1,750 1,729 — — Senior Unsecured Notes: 6.75% August 2018 — — 1,600 1,593 5.375% March 2020 1,708 1,699 2,000 1,985 7.00% October 2020 71 71 690 689 6.375% October 2020 661 656 2,250 2,231 7.50% July 2021 1,625 1,615 1,625 1,613 6.75% August 2021 650 648 650 647 5.625% December 2021 900 896 900 894 7.25% July 2022 550 545 550 543 5.50% March 2023 1,000 993 1,000 992 5.875% May 2023 3,250 3,224 3,250 3,220 4.50% euro-denominated debt May 2023 1,801 1,787 1,578 1,563 6.125% April 2025 3,250 3,222 3,250 3,218 9.00% December 2025 1,500 1,464 — — Other Various 15 15 12 12 Total long-term debt and other $ 25,752 25,444 $ 30,169 29,846 Less: Current portion of long-term debt and other 209 1 Non-current portion of long-term debt $ 25,235 $ 29,845
Schedule of aggregate maturities of long-term debt	Maturities of debt obligations for the five succeeding years ending December 31 and thereafter are as follows: (in millions) 2018 $ 209 2019 — 2020 2,690 2021 3,175 2022 5,115 Thereafter 14,563 Total gross maturities 25,752 Unamortized discounts (308 ) Total long-term debt and other $ 25,444

PENSION AND POSTRETIREMENT EM43

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2017
Retirement Benefits [Abstract]
Schedule of amounts recognized in accumulated other comprehensive loss	The amounts included in accumulated other comprehensive loss as of December 31, 2017 , 2016 and 2015 were as follows: Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans (in millions) 2017 2016 2015 2017 2016 2015 2017 2016 2015 Unrecognized actuarial (losses) gains $ (18 ) $ (26 ) $ (24 ) $ (56 ) $ (61 ) $ (40 ) $ (4 ) $ (6 ) $ (6 ) Unrecognized prior service credits $ — $ — $ — $ 29 $ 26 $ 24 $ 20 $ 23 $ 23
Components of net periodic benefit cost	The following table provides the components of net periodic (benefit) cost for the Company’s defined benefit pension plans and postretirement benefit plan in 2017 , 2016 and 2015 : Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans (in millions) 2017 2016 2015 2017 2016 2015 2017 2016 2015 Service cost $ 2 $ 2 $ 2 $ 3 $ 3 $ 3 $ — $ — $ 2 Interest cost 8 8 10 5 6 6 2 2 2 Expected return on plan assets (13 ) (13 ) (15 ) (5 ) (7 ) (7 ) — — — Amortization of net loss — — — 2 — 1 — — — Amortization of prior service credit — — — (1 ) (1 ) (1 ) (3 ) (3 ) (3 ) Settlement loss recognized — — — — — 2 — — — Other — — — — 2 — — — — Net periodic (benefit) cost $ (3 ) $ (3 ) $ (3 ) $ 4 $ 3 $ 4 $ (1 ) $ (1 ) $ 1
Components of the change in projected benefit obligations, change in plan assets and funded status	The table below presents components of the change in projected benefit obligation, change in plan assets and funded status for 2017 and 2016 : Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans (in millions) 2017 2016 2017 2016 2017 2016 Change in Projected benefit Obligation Projected benefit obligation, beginning of year $ 230 $ 232 $ 230 $ 217 $ 52 $ 58 Service cost 2 2 3 3 — — Interest cost 8 8 5 6 2 2 Employee contributions — — — — 1 1 Plan amendments — — — (4 ) — (2 ) Settlements — — (1 ) (5 ) — — Benefits paid (15 ) (15 ) (4 ) (5 ) (6 ) (6 ) Actuarial (gains) losses 9 3 (9 ) 25 (1 ) (1 ) Currency translation adjustments — — 30 (8 ) — — Other — — — 1 — — Projected benefit obligation, end of year 234 230 254 230 48 52 Change in Plan Assets Fair value of plan assets, beginning of year 181 182 128 126 — 4 Actual return on plan assets 30 14 7 7 — (1 ) Employee contributions — — — — 1 1 Company contributions 10 — 7 9 5 2 Settlements — — (1 ) (4 ) — — Benefits paid (15 ) (15 ) (4 ) (5 ) (6 ) (6 ) Currency translation adjustments — — 18 (5 ) — — Fair value of plan assets, end of year 206 181 155 128 — — Funded Status at end of year $ (28 ) $ (49 ) $ (99 ) $ (102 ) $ (48 ) $ (52 ) Recognized as: Accrued and other current liabilities — — (2 ) (2 ) (6 ) (6 ) Other non-current liabilities (28 ) (49 ) (97 ) (100 ) (42 ) (46 )
Schedule of underfunded plans	Information for the underfunded pension benefit plans is as follows: U.S. Plan Non-U.S. Plans (in millions) 2017 2016 2017 2016 Projected benefit obligation $ 234 $ 230 $ 254 $ 230 Accumulated benefit obligation 234 230 244 221 Fair value of plan assets 206 181 155 128
Future benefit payments for the pension benefit plans	Future benefit payments over the next 10 years for the pension benefit plans and the postretirement benefit plan, which reflect expected future service, as appropriate, are expected to be paid as follows: (in millions) Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans 2018 $ 14 $ 4 $ 6 2019 19 5 5 2020 19 5 5 2021 18 6 4 2022 18 6 4 2023-2027 79 35 15
Weighted-average assumptions used to determine net periodic benefit costs and benefit obligations	The weighted-average assumptions used to determine net periodic benefit costs and benefit obligations for 2017, 2016 and 2015 were as follows: Pension Benefit Plans Postretirement Benefit Plan (1) 2017 2016 2015 2017 2016 2015 For Determining Net Periodic (Benefit) Cost U.S. Plans: Discount rate 4.04 % 4.34 % 3.90 % 3.85 % 4.13 % 3.70 % Expected rate of return on plan assets 7.50 % 7.50 % 7.50 % — 5.50 % 5.50 % Rate of compensation increase — — — — — — Non-U.S. Plans: Discount rate 2.08 % 2.74 % 2.41 % Expected rate of return on plan assets 3.84 % 5.46 % 5.60 % Rate of compensation increase 2.64 % 2.87 % 2.86 % Pension Benefit Plans Postretirement Benefit Plan (1) 2017 2016 2017 2016 For Determining Benefit Obligation U.S. Plans: Discount rate 3.56 % 4.04 % 3.47 % 3.85 % Rate of compensation increase — — — — Non-U.S. Plans: Discount rate 2.29 % 2.08 % Rate of compensation increase 2.87 % 2.64 % ____________________________________ (1) The Company does not have non-U.S. postretirement benefit plans.
Actual asset allocations	Pension benefit plan assets are invested in several asset categories. The following presents the actual asset allocation as of December 31, 2017 and 2016 : 2017 2016 U.S. Plan Equity securities 60 % 61 % Fixed income securities 30 % 39 % Other 10 % — % Cash — % — % Non-U.S. Plans Equity securities 23 % 47 % Fixed income securities 66 % 42 % Other 11 % 11 %
Fair value of pension and postretirement benefit plan assets assumed in connection with the Acquisition	The table below presents total plan assets by investment category as of December 31, 2017 and 2016 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value. There were no transfers between Level 1 and Level 2 for the years ended December 31, 2017 and 2016 . Pension Benefit Plans - U.S. Plans As of December 31, 2017 As of December 31, 2016 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Cash and cash equivalents $ — $ — $ — $ — $ — $ — $ — $ — Commingled funds: Equity securities: U.S. broad market — 76 — 76 — 70 — 70 Emerging markets — 19 — 19 — 16 — 16 Worldwide developed markets — 29 — 29 — 25 — 25 Fixed income securities: Investment grade — 62 — 62 — 52 — 52 Global high yield — — — — — 18 — 18 Other assets — 20 — 20 — — — — $ — $ 206 $ — $ 206 $ — $ 181 $ — $ 181 Pension Benefit Plans - Non-U.S. Plans As of December 31, 2017 As of December 31, 2016 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Cash and cash equivalents $ 14 $ — $ — $ 14 $ 10 $ — $ — $ 10 Commingled funds: Equity securities: Emerging markets — 1 — 1 — — — — Worldwide developed markets — 35 — 35 — 59 — 59 Fixed income securities: Investment grade — 10 — 10 — 10 — 10 Global high yield — 4 — 4 — 1 — 1 Government bond funds — 88 — 88 — 43 — 43 Other assets — 3 — 3 — 5 — 5 $ 14 $ 141 $ — $ 155 $ 10 $ 118 $ — $ 128

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of the components and classification of share-based compensation expense	The components and classification of share-based compensation expense related to stock options and RSUs for the years ended December 31, 2017, 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Stock options $ 18 $ 16 $ 17 RSUs 69 149 123 Share-based compensation expense $ 87 $ 165 $ 140 Research and development expenses $ 8 $ 7 $ 6 Selling, general and administrative expenses 79 158 134 Share-based compensation expense $ 87 $ 165 $ 140
Schedule of weighted-average assumption as of the date of grant using the Black Scholes option-pricing model	The fair values of all stock options granted for the years ended December 31, 2017 , 2016 and 2015 were estimated as of the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: 2017 2016 2015 Expected stock option life (years) 3.0 3.3 3.4 Expected volatility 67.3 % 75.0 % 44.5 % Risk-free interest rate 1.8 % 1.1 % 1.3 % Expected dividend yield — % — % — %
Summary of stock option activity	The following table summarizes stock option activity during 2017 : (in millions, except per share amounts) Options Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding, January 1, 2017 4.1 $ 49.57 Granted 1.6 $ 14.28 Exercised (0.1 ) $ 5.16 Expired or forfeited (1.1 ) $ 63.72 Outstanding, December 31, 2017 4.5 $ 34.65 8.1 $ 10 Vested and expected to vest, December 31, 2017 4.2 $ 35.22 8.0 $ 9 Vested and exercisable, December 31, 2017 1.4 $ 58.80 6.6 $ —
Summary of non-vested time-based RSU activity	The following table summarizes non-vested time-based RSU activity during 2017 : (in millions, except per share amounts) Time-Based RSUs Weighted- Average Grant-Date Fair Value Per Share Non-vested, January 1, 2017 2.7 $ 43.96 Granted 3.6 $ 11.92 Vested (1.0 ) $ 57.34 Forfeited (0.6 ) $ 19.24 Non-vested, December 31, 2017 4.7 $ 19.09
Schedule of assumptions used to calculate the fair values of performance-based RSUs	The fair values of performance-based RSUs granted during 2017 , 2016 and 2015 were estimated with the following assumptions: 2017 2016 2015 Contractual term (years) 3.0 3.0 - 4.0 2.8 - 6.3 Expected Company share volatility 67.2% - 77.2% 78.2% - 81.4% 40.9% - 60.3% Risk-free interest rate 1.7% - 1.8% 1.0% - 1.2% 1.1% - 2.1%
Summary of non-vested performance-based RSU activity	The following table summarizes non-vested performance-based RSU activity during 2017 : (in millions, except per share amounts) Performance-based RSUs Weighted- Average Grant-Date Fair Value Per Share Non-vested, January 1, 2017 1.8 $ 81.68 Granted 0.4 $ 16.06 Vested (0.1 ) $ 211.34 Forfeited (0.3 ) $ 135.18 Non-vested, December 31, 2017 1.8 $ 48.55

ACCUMULATED OTHER COMPREHENSI45

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Schedule of the components of accumulated other comprehensive loss	The components of accumulated other comprehensive loss as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Foreign currency translation adjustment $ (1,877 ) $ (2,074 ) Pension adjustment, net of tax (19 ) (34 ) $ (1,896 ) $ (2,108 )

RESEARCH AND DEVELOPMENT (Table

RESEARCH AND DEVELOPMENT (Tables)	12 Months Ended
	Dec. 31, 2017
Research and Development [Abstract]
Summary of research and development	Research and development costs are as follows: (in millions) 2017 2016 2015 Product related research and development $ 328 $ 385 $ 306 Quality assurance 33 36 28 Research and development $ 361 $ 421 $ 334

OTHER (INCOME) EXPENSE, NET (Ta

OTHER (INCOME) EXPENSE, NET (Tables)	12 Months Ended
	Dec. 31, 2017
Other Income and Expenses [Abstract]
Schedule of other nonoperating income (expense)	Other (income) expense, net for the years ended December 31, 2017, 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Gain on the Skincare Sale $ (309 ) $ — $ — Gain on the iNova Sale (309 ) — — Gain on the Dendreon Sale (97 ) — — Loss on the Sprout Sale 98 — — Net loss (gain) on other sales of assets 37 (6 ) 8 Other post business combination expenses — — 183 Litigation and other matters 226 59 37 Other, net 1 20 67 Other (income) expense, net $ (353 ) $ 73 $ 295

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Components of loss before recovery of income taxes	The components of Loss before (benefit from) provision for income taxes for the years ended December 31, 2017, 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Domestic $ (2,032 ) $ (1,804 ) $ (1,516 ) Foreign 291 (631 ) 1,361 $ (1,741 ) $ (2,435 ) $ (155 )
Components of recovery of income taxes	The components of (Benefit from) provision for income taxes for the years ended December 31, 2017, 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Current: Domestic $ 20 $ — $ — Foreign 146 241 77 166 241 77 Deferred: Domestic 2 — (3 ) Foreign (4,313 ) (268 ) 59 (4,311 ) (268 ) 56 $ (4,145 ) $ (27 ) $ 133
Reconciliation of reported recovery of income taxes from the expected amount calculated by applying the Canadian statutory rate to income before recovery of income taxes	The (Benefit from) provision for income taxes differs from the expected amount calculated by applying the Company’s Canadian statutory rate of 26.9% to Loss before (benefit from) provision for income taxes for the years ended December 31, 2017, 2016 and 2015 as follows: (in millions) 2017 2016 2015 Loss before (benefit from) provision for income taxes $ (1,741 ) $ (2,435 ) $ (155 ) (Benefit from) provision for income taxes Expected benefit from income taxes at Canadian statutory rate $ (468 ) $ (655 ) $ (42 ) Non-deductible amount of share-based compensation 37 30 4 Adjustments to tax attributes 242 (147 ) (87 ) Impact of changes in enacted income tax rates (747 ) — — Canadian tax impact of foreign exchange gain or loss on U.S. dollar denominated debt held by VPII and its Canadian Affiliates (157 ) 11 174 Change in valuation allowance related to foreign tax credits and net operating losses (139 ) 155 114 Change in valuation allowance on Canadian deferred tax assets and tax rate changes 517 472 230 Change in uncertain tax positions 65 10 — Foreign tax rate differences (933 ) 101 107 Goodwill impairment 139 377 — Tax differences on divestitures of businesses (203 ) — (16 ) Tax benefit on intra-entity transfers (2,480 ) (399 ) (375 ) Other (18 ) 18 24 $ (4,145 ) $ (27 ) $ 133
Schedule of tax effect of major items recorded as deferred tax assets and liabilities	Deferred tax assets and liabilities as of December 31, 2017 and 2016 consist of: (in millions) 2017 2016 Deferred tax assets: Tax loss carryforwards $ 2,485 $ 1,328 Tax credit carryforwards 59 422 Scientific Research and Experimental Development pool 57 53 Research and development tax credits 140 129 Provisions 589 563 Deferred revenue 11 15 Deferred financing and share issue costs 61 391 Share-based compensation 22 37 Total deferred tax assets 3,424 2,938 Less valuation allowance (2,001 ) (1,857 ) Net deferred tax assets 1,423 1,081 Deferred tax liabilities: Intangible assets 2,014 4,044 Outside basis differences 28 2,165 Plant, equipment and technology 18 24 Prepaid expenses 35 80 Other 75 56 Total deferred tax liabilities 2,170 6,369 Net deferred tax liability $ (747 ) $ (5,288 )
Summary of open tax years by jurisdiction	Jurisdiction: Open Years United States - Federal 2015 - 2017 Canada 2005 - 2016 Germany 2013 - 2016 France 2013 - 2016 China 2015 - 2016 Ireland 2013 - 2016 Netherlands 2015 - 2016 Australia 2011 - 2017
Reconciliation of the beginning and ending amounts of unrecognized tax benefits	The following table presents a reconciliation of the unrecognized tax benefits for 2017, 2016 and 2015 : (in millions) 2017 2016 2015 Balance, beginning of year $ 423 $ 344 $ 345 Acquisition of Salix — — 15 Additions based on tax positions related to the current year 145 16 5 Additions for tax positions of prior years 57 96 23 Reductions for tax positions of prior years (18 ) (20 ) (39 ) Lapse of statute of limitations (9 ) (13 ) (5 ) Balance, end of year $ 598 $ 423 $ 344

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Schedule of calculation of earnings per share	Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc. for 2017, 2016 and 2015 were calculated as follows: (in millions, except per share amounts) 2017 2016 2015 Net income (loss) attributable to Valeant Pharmaceuticals International, Inc. $ 2,404 $ (2,409 ) $ (292 ) Basic weighted-average number of common shares outstanding 350.2 347.3 342.7 Diluted effect of stock options, RSUs and other 1.6 — — Diluted weighted-average number of common shares outstanding 351.8 347.3 342.7 Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc. Basic $ 6.86 $ (6.94 ) $ (0.85 ) Diluted $ 6.83 $ (6.94 ) $ (0.85 )
Schedule of dilutive effect of stock options and RSUs on weighted-average number of common shares outstanding	The dilutive effect of potential common shares issuable for stock options and RSUs on the weighted-average number of common shares outstanding would have been as follows: (in millions) 2016 2015 Basic weighted-average number of common shares outstanding 347.3 342.7 Dilutive effect of stock options and RSUs 2.8 6.1 Diluted weighted-average number of common shares outstanding 350.1 348.8

SUPPLEMENTAL CASH FLOW DISCLO50

SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Schedule of interest and income taxes paid	The Supplemental cash flow disclosures for 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Non-Cash Investing and Financing Activities Contingent and deferred consideration for businesses acquired, at fair value $ — $ — $ 1,696 Debt assumed in acquisition of businesses, at fair value $ — $ — $ 3,129 Other Payments Interest paid $ 1,708 $ 1,718 $ 1,269 Income taxes paid $ 179 $ 149 $ 95

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Minimum future rental payments under non-cancelable operating and capital leases	Minimum future rental payments under non-cancelable operating and capital leases for each of the five succeeding years ending December 31 and thereafter are as follows: (in millions) Operating Lease Obligations Capital Lease Obligations 2018 $ 73 $ 2 2019 60 1 2020 50 1 2021 37 1 2022 34 1 Thereafter 132 — Total $ 386 $ 6

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Schedule of segment revenues and profit	Segment revenues and profits for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Revenues: Bausch + Lomb/International $ 4,871 $ 4,927 $ 4,937 Branded Rx 2,475 2,828 3,248 U.S. Diversified Products 1,378 1,919 2,262 Total revenues $ 8,724 $ 9,674 $ 10,447 Segment profit: Bausch + Lomb/International $ 1,440 $ 1,483 $ 1,686 Branded Rx 1,361 1,517 1,875 U.S. Diversified Products 994 1,522 1,785 Total segment profit 3,795 4,522 5,346 Corporate (562 ) (690 ) (518 ) Amortization of intangible assets (2,690 ) (2,673 ) (2,257 ) Goodwill impairments (312 ) (1,077 ) — Asset impairments (714 ) (422 ) (304 ) Restructuring and integration costs (52 ) (132 ) (362 ) Acquired in-process research and development costs (5 ) (34 ) (106 ) Acquisition-related contingent consideration 289 13 23 Other income (expense) 353 (73 ) (295 ) Operating income (loss) 102 (566 ) 1,527 Interest income 12 8 4 Interest expense (1,840 ) (1,836 ) (1,563 ) Loss on extinguishment of debt (122 ) — (20 ) Foreign exchange and other 107 (41 ) (103 ) Loss before (benefit from) provision for income taxes $ (1,741 ) $ (2,435 ) $ (155 )
Schedule of total assets by segment	Total assets by segment as of December 31, 2017 and 2016 were as follows: (in millions) 2017 2016 Bausch + Lomb/International $ 13,042 $ 16,201 Branded Rx 18,316 21,143 U.S. Diversified Products 5,467 5,820 36,825 43,164 Corporate 672 365 Total assets $ 37,497 $ 43,529
Schedule of capital expenditures, depreciation and amortization by segment	Capital expenditures, depreciation and amortization of intangible assets, and asset impairments by segment for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Capital expenditures: Bausch + Lomb/International $ 159 $ 221 $ 197 Branded Rx 5 5 15 U.S. Diversified Products 4 3 5 168 229 217 Corporate 3 6 18 Total capital expenditures $ 171 $ 235 $ 235 Depreciation and amortization of intangible assets: Bausch + Lomb/International $ 666 $ 817 $ 818 Branded Rx 1,798 1,606 1,227 U.S. Diversified Products 369 408 386 2,833 2,831 2,431 Corporate 25 35 36 Total depreciation and amortization of intangible assets $ 2,858 $ 2,866 $ 2,467 Asset impairments: Bausch + Lomb/International $ 165 $ 150 $ 60 Branded Rx 344 218 190 U.S. Diversified Products 205 48 54 714 416 304 Corporate — 6 — Total asset impairments $ 714 $ 422 $ 304
Schedule of revenues by product category	Revenues by product category for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 Pharmaceuticals $ 4,377 $ 5,167 $ 6,058 Devices 1,532 1,504 1,480 OTC 1,529 1,581 1,583 Branded and Other Generics 1,157 1,284 1,171 Other revenues 129 138 155 $ 8,724 $ 9,674 $ 10,447
Schedule of revenues and long-lived assets by geographic region	Revenues are attributed to a geographic region based on the location of the customer for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 U.S. and Puerto Rico $ 5,225 $ 6,247 $ 7,063 China 331 300 272 Canada 326 320 334 Japan 223 232 206 Mexico 201 189 204 Poland 201 140 214 Russia 200 165 169 France 188 186 178 Germany 157 157 159 Egypt 152 196 51 Australia 149 176 182 United Kingdom 108 104 105 Brazil 96 105 110 Other 1,167 1,157 1,200 $ 8,724 $ 9,674 $ 10,447
Schedule of assets by geographic region	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, 2017 and 2016 were as follows: (in millions) 2017 2016 U.S. and Puerto Rico $ 599 $ 614 Ireland 235 198 Poland 100 81 Canada 98 83 Germany 70 60 Mexico 50 50 Egypt 47 41 France 34 29 Serbia 30 25 China 28 26 Italy 23 19 South Korea 15 14 Other 74 72 $ 1,403 $ 1,312
Schedule of external customers that accounted for 10% or more of total revenues	Customers that accounted for 10% or more of total revenues for the years ended December 31, 2017 , 2016 and 2015 were as follows: (in millions) 2017 2016 2015 McKesson Corporation 19% 21% 20% AmerisourceBergen Corporation 15% 13% 14% Cardinal Health, Inc. 13% 15% 12%

SUPPLEMENTARY DATA (UNAUDITED)

SUPPLEMENTARY DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	Selected unaudited quarterly consolidated financial data are shown below: 2017 (in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Revenue $ 2,109 $ 2,233 $ 2,219 $ 2,163 Expenses 1,898 2,058 2,181 2,485 Operating income (loss) $ 211 $ 175 $ 38 $ (322 ) Net income (loss) attributable to Valeant Pharmaceuticals International, Inc. $ 628 $ (38 ) $ 1,301 $ 513 Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc.: Basic $ 1.80 $ (0.11 ) $ 3.71 $ 1.46 Diluted $ 1.79 $ (0.11 ) $ 3.69 $ 1.45 Net cash provided by operating activities $ 954 $ 268 $ 490 $ 578 2016 (in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Revenue $ 2,372 $ 2,420 $ 2,479 $ 2,403 Expenses 2,306 2,339 3,342 2,253 Operating income (loss) $ 66 $ 81 $ (863 ) $ 150 Net loss attributable to Valeant Pharmaceuticals International, Inc. $ (374 ) $ (302 ) $ (1,218 ) $ (515 ) (Loss) earnings per share attributable to Valeant Pharmaceuticals International, Inc.: Basic $ (1.08 ) $ (0.88 ) $ (3.49 ) $ (1.47 ) Diluted $ (1.08 ) $ (0.88 ) $ (3.49 ) $ (1.47 ) Net cash provided by operating activities $ 556 $ 449 $ 569 $ 512

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details)	Dec. 31, 2017country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which entity operates (more than)	90

SIGNIFICANT ACCOUNTING POLICI55

SIGNIFICANT ACCOUNTING POLICIES - Concentrations of Credit Risk (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)wholesaler	Dec. 31, 2016USD ($)
Accounting Policies [Abstract]
Maximum term of original maturity to classify instruments as cash and cash equivalents (less than)	3 months
Concentrations of Credit Risk
Allowance for doubtful accounts	$ 97	$ 80
Percentage of net trade receivables accounted for by largest wholesale customers	43.00%
Past due period for receivables to be negligible (less than)	90 days	90 days
Period net trade receivable balance outstanding (more than)	90 days
Russia, Egypt, Italy, Brazil, Spain, Greece and Portugal
Concentrations of Credit Risk
Net trade receivable	$ 230	$ 214
Portion of net trade receivables that is past due	$ 14
Trade receivables | Three largest U.S. wholesaler customers | Credit concentration
Concentrations of Credit Risk
Number of largest wholesale customers | wholesaler	3
Amoun | Revenue
Concentrations of Credit Risk
Concentration risk, percentage	2.00%	2.00%

SIGNIFICANT ACCOUNTING POLICI56

SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2017
Minimum | Land improvements
Property, plant and equipment [Line Items]
Estimated useful lives	15 years
Minimum | Machinery and equipment
Property, plant and equipment [Line Items]
Estimated useful lives	3 years
Minimum | Other equipment
Property, plant and equipment [Line Items]
Estimated useful lives	3 years
Maximum | Land improvements
Property, plant and equipment [Line Items]
Estimated useful lives	30 years
Maximum | Buildings
Property, plant and equipment [Line Items]
Estimated useful lives	40 years
Maximum | Machinery and equipment
Property, plant and equipment [Line Items]
Estimated useful lives	20 years
Maximum | Other equipment
Property, plant and equipment [Line Items]
Estimated useful lives	7 years
Maximum | Equipment on operating lease
Property, plant and equipment [Line Items]
Estimated useful lives	5 years
Maximum | Leasehold improvements and capital leases
Property, plant and equipment [Line Items]
Estimated useful lives	10 years

SIGNIFICANT ACCOUNTING POLICI57

SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2017
Product brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	6 years
Corporate brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	10 years
Product rights
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	5 years
Partner relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	2 years
Technology and other
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	4 years
Minimum | Product brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	2 years
Minimum | Corporate brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	6 years
Minimum | Product rights
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	3 years
Minimum | Partner relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	5 years
Minimum | Technology and other
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	5 years
Maximum | Product brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	20 years
Maximum | Corporate brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	20 years
Maximum | Product rights
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	15 years
Maximum | Partner relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	9 years
Maximum | Technology and other
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	10 years

SIGNIFICANT ACCOUNTING POLICI58

SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Oct. 01, 2017	Jan. 01, 2017	Oct. 01, 2016	Sep. 30, 2016	Apr. 01, 2015
Accounting Policies [Abstract]
Prepaid advertising	$ 7	$ 8
Advertising expenses	462	564	$ 652
Capitalized interest	$ 32	24	14
Tax benefit recognition, measurement percentage	50.00%
Minimum period to classify uncertain tax position liabilities as long term liabilities	1 year
Threshold percentage for amortization of net actuarial gains and losses	10.00%
Business Acquisition [Line Items]
Goodwill	$ 15,593	$ 15,794	$ 18,553		$ 15,794
Salix
Business Acquisition [Line Items]
Total identifiable net assets				$ 10,660		$ 10,319	$ 10,409	$ 4,852
Aggregate purchase price, net	$ 1,389			13,404		14,087	14,066
Goodwill				$ 5,127		$ 5,128	$ 5,128	$ 8,280

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details)	Feb. 15, 2017USD ($)	Oct. 19, 2015USD ($)	Oct. 01, 2015USD ($)	Apr. 01, 2015USD ($)product	Feb. 23, 2015USD ($)	Oct. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2017USD ($)business	Dec. 31, 2016USD ($)business	Dec. 31, 2015USD ($)	Oct. 01, 2017USD ($)	Feb. 21, 2017USD ($)	Jan. 01, 2017USD ($)	Oct. 01, 2016USD ($)	Feb. 10, 2015USD ($)
Business Combinations
Number of business combinations | business																				0	1
Goodwill							$ 18,553,000,000	$ 15,593,000,000				$ 15,794,000,000				$ 18,553,000,000	$ 18,553,000,000	$ 15,593,000,000	$ 18,553,000,000	$ 15,593,000,000	$ 15,794,000,000	$ 18,553,000,000			$ 15,794,000,000
Total revenues								2,163,000,000	$ 2,219,000,000	$ 2,233,000,000	$ 2,109,000,000	2,403,000,000	$ 2,479,000,000	$ 2,420,000,000	$ 2,372,000,000					8,724,000,000	9,674,000,000	10,447,000,000
Net (loss) income								513,000,000	$ 1,301,000,000	$ (38,000,000)	628,000,000	$ (515,000,000)	(1,218,000,000)	(302,000,000)	(374,000,000)					2,404,000,000	(2,409,000,000)	(292,000,000)
Acquisition of businesses, net of cash acquired																				0	19,000,000	15,458,000,000
Pro forma acquisition accounting adjustment on inventory sold subsequent to acquisition date																						130,000,000
Pro forma acquisition-related costs																						35,000,000
Amoun
Business Combinations
Aggregate purchase price		$ 906,000,000
Payments to acquire business, cash		847,000,000
Acquisition-related contingent consideration		75,000,000
Acquisition of businesses, contingent consideration at fair value		59,000,000
Goodwill		284,000,000
Total revenues							48,000,000
Net (loss) income							(9,000,000)
Identifiable intangible assets, excluding acquired IPR&D		520,000,000
Amoun | Product brands
Business Combinations
Identifiable intangible assets, excluding acquired IPR&D		$ 480,000,000
Weighted-average useful lives		9 years
Amoun | Other Income (Expense)
Business Combinations
Payments to employees																						12,000,000
Sprout
Business Combinations
Aggregate purchase price			$ 1,447,000,000
Acquisition-related contingent consideration			422,000,000
Acquisition of businesses, contingent consideration at fair value			495,000,000
Goodwill			770,000,000
Net (loss) income																(37,000,000)
Aggregate purchase price						$ 530,000,000									$ 500,000,000
Contingent consideration commencement, sales revenue			1,000,000,000
Identifiable intangible assets, excluding acquired IPR&D			$ 994,000,000
Sprout | Product brands
Business Combinations
Weighted-average useful lives			11 years
Salix
Business Combinations
Aggregate purchase price				$ 13,132,000,000
Payments to acquire business, cash				11,329,000,000
Goodwill				8,280,000,000									5,128,000,000										$ 5,127,000,000			$ 5,128,000,000
Total revenues																	1,276,000,000
Net (loss) income																	(302,000,000)
Identifiable intangible assets, excluding acquired IPR&D				$ 6,756,000,000
Number of products in product portfolio (more than) | product				20
Cash consideration paid for non-vested stock units				$ 165,000,000
Fair value of capped call transactions and convertible bond hedge				1,270,000,000
Accrual for contingent liability				336,000,000
Accrual for returns and rebates				375,000,000
Possible contingent consideration				650,000,000
Contingent consideration				334,000,000
Aggregate purchase price, net								1,389,000,000					14,066,000,000					1,389,000,000		1,389,000,000			$ 13,404,000,000			$ 14,087,000,000
Salix | Development and Sales Based Milestones
Business Combinations
Possible contingent consideration				$ 250,000,000
Milestone payments													$ 50,000,000
Salix | In Process Research and Development | Minimum
Business Combinations
Discount rate				9.50%
Salix | In Process Research and Development | Maximum
Business Combinations
Discount rate				11.00%
Salix | Term Loan B Facility
Business Combinations
Liabilities assumed				$ 1,125,000,000
Salix | Senior Notes 6.00% Due 2021
Business Combinations
Liabilities assumed				$ 842,000,000
Stated interest rate				6.00%
Salix | Convertible Notes 1.5% Due March 2019
Business Combinations
Liabilities assumed				$ 1,837,000,000
Stated interest rate				1.50%
Long-term debt				$ 1,080,000,000
Salix | Convertible Notes 2.75% Due May 2015
Business Combinations
Liabilities assumed				$ 1,286,000,000
Stated interest rate				2.75%
Salix | Product brands
Business Combinations
Identifiable intangible assets, excluding acquired IPR&D				$ 6,089,000,000
Weighted-average useful lives				10 years
Other 2015 Business Combinations
Business Combinations
Aggregate purchase price							1,407,000,000									1,407,000,000	1,407,000,000		1,407,000,000			1,407,000,000
Acquisition of businesses, contingent consideration at fair value																						186,000,000
Goodwill							139,000,000									139,000,000	139,000,000		139,000,000			139,000,000
Total revenues																			771,000,000
Net (loss) income																			208,000,000
Identifiable intangible assets, excluding acquired IPR&D							1,078,000,000									1,078,000,000	1,078,000,000		1,078,000,000			1,078,000,000
Other 2015 Business Combinations | Product brands
Business Combinations
Identifiable intangible assets, excluding acquired IPR&D							$ 735,000,000									$ 735,000,000	$ 735,000,000		$ 735,000,000			$ 735,000,000
Weighted-average useful lives																						7 years
Dendreon Corporation
Business Combinations
Acquisition of businesses, net of cash acquired					$ 415,000,000
Cash received from acquisition					80,000,000
Cash consideration paid for B&L’s unvested stock options					$ 50,000,000
Marathon
Business Combinations
Liabilities assumed																											$ 64,000,000
Possible contingent consideration																											200,000,000
Acquisition of businesses, net of cash acquired																				16,000,000	$ 50,000,000	$ 35,000,000
Aggregate purchase price, net																											286,000,000
Fair value of liabilities																											$ 87,000,000
Brodalumab
Business Combinations
Upfront payment						100,000,000
Brodalumab | Regulatory Milestones
Business Combinations
Possible contingent consideration						170,000,000								$ 150,000,000
Payment for contingent consideration liability	$ 130,000,000
Brodalumab | Sales Based Milestone Payments
Business Combinations
Possible contingent consideration						$ 175,000,000		$ 175,000,000										175,000,000		$ 175,000,000
EyeGate II Delivery System And EGP-437 | Sales Based Milestone Payments
Business Combinations
Possible contingent consideration																								$ 65,000,000
EyeGate II Delivery System And EGP-437 | Development and Regulatory Milestones
Business Combinations
Possible contingent consideration																								$ 34,000,000
Upfront payment											$ 4,000,000
Payment for contingent consideration liability																		$ 3,000,000

ACQUISITIONS - Identifiable Int

ACQUISITIONS - Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Oct. 19, 2015	Apr. 01, 2015	Dec. 31, 2015
Amoun
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Value	$ 520
Salix
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Value		$ 6,756
Other 2015 Business Combinations
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Value			$ 1,078
Product brands | Amoun
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)	9 years
Final Fair Value	$ 480
Product brands | Salix
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)		10 years
Final Fair Value		$ 6,089
Product brands | Other 2015 Business Combinations
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)			7 years
Final Fair Value			$ 735
Product rights | Other 2015 Business Combinations
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)			3 years
Final Fair Value			$ 42
Corporate brands | Amoun
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)	17 years
Final Fair Value	$ 40
Corporate brands | Salix
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)		20 years
Final Fair Value		$ 667
Corporate brands | Other 2015 Business Combinations
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)			16 years
Final Fair Value			$ 7
Partner relationships | Other 2015 Business Combinations
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)			8 years
Final Fair Value			$ 8
Technology/know-how | Other 2015 Business Combinations
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)			10 years
Final Fair Value			$ 284
Other | Other 2015 Business Combinations
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)			6 years
Final Fair Value			$ 2

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2017	Oct. 01, 2017	Jan. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Sep. 30, 2016	Dec. 31, 2015	Apr. 01, 2015
Business Combinations
Goodwill	$ 15,593		$ 15,794	$ 15,794			$ 18,553
Salix
Business Combinations
Cash and cash equivalents								$ 114
Inventories								232
Other assets								1,410
Property, plant and equipment								24
Identifiable intangible assets, excluding acquired IPR&D								6,756
Current liabilities								(1,939)
Contingent consideration								(334)
Long-term debt								(3,123)
Deferred income taxes, net of deferred tax assets								(3,428)
Other non-current liabilities								(43)
Total identifiable net assets		$ 10,660			$ 10,319	$ 10,409		4,852
Goodwill		$ 5,127			$ 5,128	$ 5,128		8,280
Total fair value of consideration transferred								13,132
Salix | Xifaxan IBS-D
Business Combinations
Acquired IPR&D								4,790
Salix | Other
Business Combinations
Acquired IPR&D								$ 393

ACQUISITIONS - Pro Forma Impact

ACQUISITIONS - Pro Forma Impact of Business Combinations (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / shares
Pro forma of consolidated results of operations
Revenues | $	$ 10,710
Net loss attributable to Valeant Pharmaceuticals International, Inc. | $	$ (619)
Loss per share attributable to Valeant Pharmaceuticals International, Inc.:
Basic (in usd per share) | $ / shares	$ (1.80)
Diluted (in usd per share) | $ / shares	$ (1.80)

DIVESTITURES - Narrative (Detai

DIVESTITURES - Narrative (Details) $ in Millions

Dec. 20, 2017USD ($)

Nov. 09, 2017USD ($)

Sep. 29, 2017USD ($)

Jun. 28, 2017USD ($)

Mar. 03, 2017USD ($)

Dec. 07, 2016USD ($)

Dec. 19, 2017USD ($)

Sep. 30, 2016USD ($)

Jun. 30, 2016USD ($)

Nov. 08, 2017USD ($)

Dec. 31, 2017USD ($)country

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Nov. 02, 2016USD ($)

Asset acquisitions and disposition

Number of countries in which entity operates (more than) | country

90

Sprout

Asset acquisitions and disposition

Loan term

5 years

Related party loan

$ 25

Minimum | Sprout

Asset acquisitions and disposition

Purchase obligation

$ 200

$ 200

Held For Sale

Asset acquisitions and disposition

Impairment write-down

$ 114

Liabilities held for sale

0

Deferred tax liabilities

$ 57

Other liabilities

57

CeraVe, AcneFree, AMBI Skincare Brand

Asset acquisitions and disposition

Gain (loss) on sale of business

309

0

$ 0

CeraVe, AcneFree, AMBI Skincare Brand | Held For Sale

Asset acquisitions and disposition

Net cash proceeds

$ 1,300

Gain (loss) on sale of business

309

Dendreon

Asset acquisitions and disposition

Gain (loss) on sale of business

97

0

0

Dendreon | Held For Sale

Asset acquisitions and disposition

Net cash proceeds

$ 845

Gain (loss) on sale of business

97

iNova

Asset acquisitions and disposition

Gain (loss) on sale of business

309

0

0

iNova | Held For Sale

Asset acquisitions and disposition

Net cash proceeds

$ 938

Gain (loss) on sale of business

$ 309

Number of countries in which entity operates (more than) | country

15

Obagi Medical Products, Inc. | Held For Sale

Asset acquisitions and disposition

Impairment of finite-lived intangible assets

$ 103

Obagi Medical Products, Inc. | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Asset acquisitions and disposition

Net cash proceeds

$ 190

Gain (loss) on sale of business

$ (13)

Sprout

Asset acquisitions and disposition

Gain (loss) on sale of business

(98)

0

$ 0

Sprout | Held For Sale

Asset acquisitions and disposition

Impairment write-down

$ 352

351

Sprout | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Asset acquisitions and disposition

Gain (loss) on sale of business

$ (98)

Royalty percentage

6.00%

Ruconest Divestiture | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Asset acquisitions and disposition

Impairment of finite-lived intangible assets

$ 199

Consideration received from divestiture

$ 60

Additional loss

22

Ruconest Divestiture | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Maximum

Asset acquisitions and disposition

Consideration received from divestiture

125

Ruconest Divestiture Sales Based Milestone Component | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Maximum

Asset acquisitions and disposition

Consideration received from divestiture

$ 65

Paragon Holdings I, Inc. Divestiture | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Asset acquisitions and disposition

Loss on disposal

$ 19

Small Business Assets | Discontinued Operations, Held-for-sale

Asset acquisitions and disposition

Impairment write-down

$ 75

DIVESTITURES - Components of As

DIVESTITURES - Components of Assets Held for Sale (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Current assets held for sale:
Current assets held for sale	$ 0	$ 261
Non-current assets held for sale:
Non-current assets held for sale	12	2,132
Held For Sale
Current assets held for sale:
Cash	0	1
Trade receivables	0	86
Inventories	0	147
Other	0	27
Current assets held for sale	0	261
Non-current assets held for sale:
Identifiable intangible assets	12	680
Goodwill	0	1,355
Other	0	97
Non-current assets held for sale	$ 12	$ 2,132

RESTRUCTURING AND INTEGRATION65

RESTRUCTURING AND INTEGRATION COSTS - Salix Acquisition-Related Cost-Rationalization and Integration Initiatives (Details) - Salix	12 Months Ended			33 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2017USD ($)employee
Cost-rationalization and integration initiatives
Approximate number of employees expected to be terminated | employee				475
Restructuring and acquisition-related costs since acquisition date				$ 274,000,000
Integration expenses related to acquisition	$ 0	$ 43,000,000	$ 110,000,000	153,000,000
Restructuring expenses related to acquisition				106,000,000
Acquisition-related contingent consideration				15,000,000
Restructuring costs	7,000,000	7,000,000	92,000,000
Restructuring payments	13,000,000	34,000,000	58,000,000
Integration costs	1,000,000	$ 25,000,000	$ 100,000,000
Acquisition-Related Restructuring Costs
Cost-rationalization and integration initiatives
Remaining restructuring liabilities	3,000,000			3,000,000
Integration Costs
Cost-rationalization and integration initiatives
Remaining restructuring liabilities	$ 6,000,000			$ 6,000,000

RESTRUCTURING AND INTEGRATION66

RESTRUCTURING AND INTEGRATION COSTS - Other Restructuring and Integration-Related Costs (Excluding Salix) (Details) - Other Restructuring, Integration-related and Other Costs - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cost-rationalization and integration initiatives
Restructuring costs	$ 45	$ 82	$ 160
Integration consulting, duplicate labor, transition service, and other	16	48	103
Severance costs	16	24	47
Facility closure costs	13	9	9
Restructuring payments	71	62	179
Remaining restructuring liabilities	$ 29
Other costs, including non-personnel manufacturing integration costs		$ 1	$ 1

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Jan. 09, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Liabilities:
Restricted cash		$ 77,000,000	$ 0	$ 0
Fair value, assets, level 1 to level 2 transfers, amount		0	0
Subsequent event
Liabilities:
Letters of credit	$ 77,000,000
Recurring basis
Assets:
Cash equivalents		265,000,000	242,000,000
Restricted cash		77,000,000	0
Liabilities:
Acquisition-related contingent consideration		(387,000,000)	(892,000,000)
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash equivalents		230,000,000	179,000,000
Restricted cash		77,000,000	0
Liabilities:
Acquisition-related contingent consideration		0	0
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents		35,000,000	63,000,000
Restricted cash		0	0
Liabilities:
Acquisition-related contingent consideration		0	0
Recurring basis | Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents		0	0
Restricted cash		0	0
Liabilities:
Acquisition-related contingent consideration		$ (387,000,000)	$ (892,000,000)

FAIR VALUE MEASUREMENTS - Ass68

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level3) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance, January 1,	$ 892	$ 1,156
Acquisition-related contingent consideration/adjustments	(289)	(13)
Reclassified to liabilities held for sale and subsequently disposed	(168)	(26)
Payments / Settlements	(49)	(175)
Foreign currency translation adjustment included in other comprehensive loss	1	(40)
Measurement period adjustments to 2015 acquisitions and other	0	(10)
Ending balance, December 31,	892	1,156	$ 387	$ 892
Current portion			43	52
Non-current portion			$ 344	$ 840
Accretion for the time value of money
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Acquisition-related contingent consideration/adjustments	54	92
Fair value adjustments to the expected future royalty payments for Addyi®
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Acquisition-related contingent consideration/adjustments	(312)	(18)
Fair value adjustments due to changes in estimates of other future payments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Acquisition-related contingent consideration/adjustments	$ (31)	$ (87)

FAIR VALUE MEASUREMENTS - Ass69

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Non-current assets held for sale	$ 12	$ 2,132
Held For Sale
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Non-current assets held for sale	12	2,132
Impairment of long-lived assets	114
Certain Businesses from Diversified Products and Bausch Lomb/International Segments | Held For Sale
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Impairment of long-lived assets		75
Non-recurring basis
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Non-current assets held for sale, nonrecurring	0	38
Quoted Prices in Active Markets for Identical Assets (Level 1) | Non-recurring basis
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Non-current assets held for sale, nonrecurring	0	0
Significant Other Observable Inputs (Level 2) | Non-recurring basis
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Non-current assets held for sale, nonrecurring	0	0
Fair value of long-term debt	25,385	26,297
Significant Unobservable Inputs (Level 3) | Non-recurring basis
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Non-current assets held for sale, nonrecurring	$ 0	$ 38

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 276	$ 256
Work in process	146	125
Finished goods	626	680
Inventories, net	$ 1,048	$ 1,061

PROPERTY, PLANT AND EQUIPMENT71

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	$ 2,833	$ 2,508
Less accumulated depreciation	(1,430)	(1,196)
Property, plant and equipment, net	1,403	1,312
Depreciation expense	168	193	$ 210
Land
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	84	78
Buildings
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	687	600
Machinery and equipment
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	1,436	1,214
Other equipment and leasehold improvements
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	358	278
Equipment on operating lease
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	42	42
Construction in progress
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	$ 226	$ 296

INTANGIBLE ASSETS AND GOODWIL72

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 25,549	$ 26,368
Accumulated Amortization	(12,122)	(9,435)
Net Carrying Amount	13,427	16,933
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	27,333	28,319
Intangible Assets, Net (Excluding Goodwill)	15,211	18,884
Acquired IPR&D not in service
Indefinite-lived Intangible Assets [Line Items]
Net Carrying Amount	86	253
B&L Trademark
Indefinite-lived Intangible Assets [Line Items]
Net Carrying Amount	$ 1,698	1,698
Product brands
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)	6 years
Gross Carrying Amount	$ 20,913	20,725
Accumulated Amortization	(9,281)	(6,883)
Net Carrying Amount	$ 11,632	13,842
B&L Trademark
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)	10 years
Gross Carrying Amount	$ 933	999
Accumulated Amortization	(179)	(146)
Net Carrying Amount	$ 754	853
Product rights/patents
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)	5 years
Gross Carrying Amount	$ 3,310	4,240
Accumulated Amortization	(2,346)	(2,118)
Net Carrying Amount	$ 964	2,122
Partner relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)	2 years
Gross Carrying Amount	$ 179	152
Accumulated Amortization	(169)	(128)
Net Carrying Amount	$ 10	24
Technology and other
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (Years)	4 years
Gross Carrying Amount	$ 214	252
Accumulated Amortization	(147)	(160)
Net Carrying Amount	$ 67	$ 92

INTANGIBLE ASSETS AND GOODWIL73

INTANGIBLE ASSETS AND GOODWILL - Intangible Assets (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 19, 2017	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Carrying value of intangible assets, net		$ 15,211,000,000	$ 18,884,000,000
Carrying value of finite-lived intangible assets, net		13,427,000,000	16,933,000,000
Product rights/patents
Finite-Lived Intangible Assets [Line Items]
Impairment of finite-lived intangible assets		95,000,000
Carrying value of finite-lived intangible assets, net		$ 964,000,000	$ 2,122,000,000
Estimated useful lives		5 years
IPR&D
Finite-Lived Intangible Assets [Line Items]
Impairment of finite-lived intangible assets		$ 3,000,000
Certain Product Brands
Finite-Lived Intangible Assets [Line Items]
Carrying value of finite-lived intangible assets, net		$ 7,618,000,000
Estimated useful lives		4 years	7 years
Corporate brands
Finite-Lived Intangible Assets [Line Items]
Carrying value of finite-lived intangible assets, net		$ 754,000,000	$ 853,000,000
Estimated useful lives		10 years
Other Product Lines
Finite-Lived Intangible Assets [Line Items]
Impairment of finite-lived intangible assets		$ 151,000,000
Uceris
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets		0
Carrying value of intangible assets, net		563,000,000
Salix | Corporate brands
Finite-Lived Intangible Assets [Line Items]
Carrying value of finite-lived intangible assets, net		$ 569,000,000
Estimated useful lives		10 years	17 years
Held For Sale
Finite-Lived Intangible Assets [Line Items]
Impairment of long-lived assets		$ 114,000,000
Sprout | Held For Sale
Finite-Lived Intangible Assets [Line Items]
Impairment of long-lived assets	$ 352,000,000	$ 351,000,000

INTANGIBLE ASSETS AND GOODWIL74

INTANGIBLE ASSETS AND GOODWILL - Estimated Annual Amortization of Long-lived Assets With Finite Lives (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Estimated aggregate amortization expense
2,018	$ 2,921
2,019	2,684
2,020	2,399
2,021	2,045
2,022	1,851
Thereafter	1,527
Net Carrying Amount	$ 13,427	$ 16,933

INTANGIBLE ASSETS AND GOODWIL75

INTANGIBLE ASSETS AND GOODWILL - Schedule of Goodwill (Details)	Oct. 01, 2017USD ($)	Jan. 01, 2017USD ($)	Oct. 01, 2016USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)segment	Jun. 30, 2016USD ($)segmentunit	Sep. 30, 2016USD ($)	Dec. 31, 2017USD ($)segment	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2017USD ($)	Oct. 01, 2017USD ($)	Oct. 01, 2016USD ($)	Sep. 30, 2016USD ($)	Aug. 31, 2016USD ($)	Mar. 31, 2016	Apr. 01, 2015USD ($)
Change in the carrying amount of goodwill
Balance at the beginning of the period		$ 15,794,000,000					$ 18,553,000,000	$ 18,553,000,000	$ 15,794,000,000	$ 18,553,000,000
Acquisitions										1,000,000
Divestitures										(5,000,000)
Goodwill reclassified to assets held for sale and subsequently disposed									(175,000,000)	(1,378,000,000)
Foreign exchange and other									286,000,000
Impairment			$ 0						(312,000,000)	(1,077,000,000)	$ 0
Realignment of segment goodwill		0								0
Balance at the end of the period		15,794,000,000			$ 15,794,000,000				$ 15,593,000,000	15,794,000,000	18,553,000,000
Number of reportable segments | segment							2		3
Percentage of fair value in excess of carrying value							15.00%
Number of operating segments | segment						3			3
Goodwill		15,794,000,000			15,794,000,000		$ 18,553,000,000	18,553,000,000	$ 15,794,000,000	18,553,000,000	18,553,000,000	$ 15,593,000,000
Former U.S. Reporting Unit
Change in the carrying amount of goodwill
Impairment										(905,000,000)
Salix
Change in the carrying amount of goodwill
Balance at the beginning of the period			5,128,000,000		5,128,000,000
Impairment	$ 0		0							(172,000,000)
Balance at the end of the period	5,127,000,000		5,128,000,000			$ 5,128,000,000		5,128,000,000
Goodwill	$ 5,127,000,000		5,128,000,000		5,128,000,000	5,128,000,000		5,128,000,000					$ 5,127,000,000	$ 5,128,000,000	$ 5,128,000,000			$ 8,280,000,000
Aggregate purchase price, net												1,389,000,000	13,404,000,000	14,087,000,000	14,066,000,000
Total identifiable net assets													$ 10,660,000,000	$ 10,319,000,000	10,409,000,000			$ 4,852,000,000
Portfolio of neurology medical device products
Change in the carrying amount of goodwill
Divestitures										(36,000,000)
Ruconest Divestiture
Change in the carrying amount of goodwill
Goodwill reclassified to assets held for sale and subsequently disposed										(37,000,000)
Developed Markets
Change in the carrying amount of goodwill
Balance at the beginning of the period		0					$ 16,141,000,000	16,141,000,000	0	16,141,000,000
Acquisitions										1,000,000
Divestitures										0
Goodwill reclassified to assets held for sale and subsequently disposed									0	0
Foreign exchange and other									0	47,000,000
Impairment									0
Realignment of segment goodwill		0								(15,211,000,000)
Balance at the end of the period		0			0				0	0	16,141,000,000
Number of reporting units | unit							4
Goodwill		0			0		$ 16,141,000,000	16,141,000,000	0	16,141,000,000	16,141,000,000	0
Developed Markets | Former U.S. Reporting Unit
Change in the carrying amount of goodwill
Impairment										(905,000,000)
Developed Markets | Salix
Change in the carrying amount of goodwill
Impairment										0
Developed Markets | Portfolio of neurology medical device products
Change in the carrying amount of goodwill
Divestitures										(36,000,000)
Developed Markets | Ruconest Divestiture
Change in the carrying amount of goodwill
Goodwill reclassified to assets held for sale and subsequently disposed										(37,000,000)
Emerging Markets
Change in the carrying amount of goodwill
Balance at the beginning of the period		0					$ 2,412,000,000	2,412,000,000	0	2,412,000,000
Acquisitions										0
Divestitures										0
Goodwill reclassified to assets held for sale and subsequently disposed									0	0
Foreign exchange and other									0	(12,000,000)
Impairment									0
Realignment of segment goodwill		0								(2,400,000,000)
Balance at the end of the period		0			0				0	0	2,412,000,000
Number of reporting units | unit							3
Goodwill		0			0		$ 2,412,000,000	2,412,000,000	0	2,412,000,000	2,412,000,000	0
Emerging Markets | Former U.S. Reporting Unit
Change in the carrying amount of goodwill
Impairment										0
Emerging Markets | Salix
Change in the carrying amount of goodwill
Impairment										0
Emerging Markets | Portfolio of neurology medical device products
Change in the carrying amount of goodwill
Divestitures										0
Emerging Markets | Ruconest Divestiture
Change in the carrying amount of goodwill
Goodwill reclassified to assets held for sale and subsequently disposed										0
Bausch Lomb/ International
Change in the carrying amount of goodwill
Balance at the beginning of the period		5,499,000,000					0	0	5,499,000,000	0
Acquisitions										0
Divestitures										(5,000,000)
Goodwill reclassified to assets held for sale and subsequently disposed									(30,000,000)	(947,000,000)
Foreign exchange and other									283,000,000	(257,000,000)
Impairment									0
Realignment of segment goodwill		264,000,000								6,708,000,000
Balance at the end of the period		5,763,000,000			5,499,000,000				6,016,000,000	5,499,000,000	0
Goodwill		5,499,000,000			5,499,000,000		0	0	5,499,000,000	0	0	6,016,000,000
Bausch Lomb/ International | Former U.S. Reporting Unit
Change in the carrying amount of goodwill
Impairment										0
Bausch Lomb/ International | Salix
Change in the carrying amount of goodwill
Impairment										0
Bausch Lomb/ International | Portfolio of neurology medical device products
Change in the carrying amount of goodwill
Divestitures										0
Bausch Lomb/ International | Ruconest Divestiture
Change in the carrying amount of goodwill
Goodwill reclassified to assets held for sale and subsequently disposed										0
Branded Rx
Change in the carrying amount of goodwill
Balance at the beginning of the period		7,265,000,000					0	0	7,265,000,000	0
Acquisitions										0
Divestitures										0
Goodwill reclassified to assets held for sale and subsequently disposed									(61,000,000)	(431,000,000)
Foreign exchange and other									3,000,000	(5,000,000)
Impairment									(312,000,000)
Realignment of segment goodwill		(264,000,000)								7,873,000,000
Balance at the end of the period		7,001,000,000			7,265,000,000				6,631,000,000	7,265,000,000	0
Percentage of fair value in excess of carrying value																5.00%
Goodwill		7,265,000,000			7,265,000,000		0	0	7,265,000,000	0	0	6,631,000,000				$ 897,000,000
Branded Rx | Former U.S. Reporting Unit
Change in the carrying amount of goodwill
Impairment										0
Branded Rx | Salix
Change in the carrying amount of goodwill
Impairment										(172,000,000)
Branded Rx | Portfolio of neurology medical device products
Change in the carrying amount of goodwill
Divestitures										0
Branded Rx | Ruconest Divestiture
Change in the carrying amount of goodwill
Goodwill reclassified to assets held for sale and subsequently disposed										0
U.S. Diversified Products
Change in the carrying amount of goodwill
Balance at the beginning of the period		3,030,000,000					$ 0	0	3,030,000,000	0
Acquisitions										0
Divestitures										0
Goodwill reclassified to assets held for sale and subsequently disposed									(84,000,000)	0
Foreign exchange and other									0
Impairment									0
Realignment of segment goodwill		0								3,030,000,000
Balance at the end of the period		3,030,000,000			3,030,000,000				2,946,000,000	3,030,000,000	0
Percentage of fair value in excess of carrying value							(2.00%)
Goodwill		3,030,000,000			3,030,000,000		$ 0	0	3,030,000,000	0	$ 0	$ 2,946,000,000
U.S. Diversified Products | Former U.S. Reporting Unit
Change in the carrying amount of goodwill
Impairment										0
U.S. Diversified Products | Salix
Change in the carrying amount of goodwill
Impairment										0
U.S. Diversified Products | Portfolio of neurology medical device products
Change in the carrying amount of goodwill
Divestitures										0
U.S. Diversified Products | Ruconest Divestiture
Change in the carrying amount of goodwill
Goodwill reclassified to assets held for sale and subsequently disposed										0
Bausch Lomb/International, Branded Rx, and U.S. Diversified Products
Change in the carrying amount of goodwill
Balance at the beginning of the period			172,000,000		172,000,000
Foreign exchange and other										(262,000,000)
Impairment								(211,000,000)
Balance at the end of the period						172,000,000		172,000,000
Percentage of fair value in excess of carrying value													15.00%	15.00%		15.00%	(15.00%)
Goodwill			172,000,000		172,000,000	172,000,000		172,000,000							172,000,000
Adjustment to goodwill					(39,000,000)
Branded Rx And U.S. Diversified Products Segments
Change in the carrying amount of goodwill
Impairment						(1,077,000,000)
Developed Markets, Emerging Markets, U.S. Reporting Segments
Change in the carrying amount of goodwill
Balance at the beginning of the period			905,000,000		905,000,000
Foreign exchange and other										35,000,000
Impairment								(838,000,000)
Balance at the end of the period						905,000,000		905,000,000
Goodwill			$ 905,000,000		905,000,000	$ 905,000,000		$ 905,000,000							$ 905,000,000
Adjustment to goodwill					67,000,000
Baush and Lomb/International Segment | Scenario, Adjustment
Change in the carrying amount of goodwill
Balance at the beginning of the period		264,000,000							264,000,000
Balance at the end of the period					264,000,000					264,000,000
Goodwill		$ 264,000,000			$ 264,000,000				$ 264,000,000	$ 264,000,000
Branded Rx Segment
Change in the carrying amount of goodwill
Impairment				$ (312,000,000)

ACCRUED AND OTHER CURRENT LIA76

ACCRUED AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Product rebates	$ 1,094	$ 897
Product returns	863	708
Interest	324	337
Employee compensation and benefit costs	259	198
Income taxes payable	202	213
Legal liabilities assumed in the Salix Acquisition	47	281
Other	905	593
Accrued and other current liabilities	$ 3,694	$ 3,227

FINANCING ARRANGEMENTS - Schedu

FINANCING ARRANGEMENTS - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 18, 2017	Mar. 21, 2017	Dec. 31, 2016	Mar. 27, 2015	Jan. 30, 2015	Dec. 02, 2013	Jul. 12, 2013	Oct. 04, 2012	Mar. 08, 2011	Feb. 08, 2011	Sep. 28, 2010
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 25,752			$ 30,169
Total long-term debt and other	25,444			29,846
Less: Current portion of long-term debt and other	209			1
Non-current portion of long-term debt	25,235			29,845
Series A-3 Tranche A Term Loan Facility
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	0			1,032
Total long-term debt and other	0			1,016
Series A-4 Tranche A Term Loan Facility
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	0			668
Total long-term debt and other	0			658
Series D-2 Tranche B Term Loan Facility
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	0			1,068
Total long-term debt and other	0			1,048
Series C-2 Tranche B Term Loan Facility
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	0			823
Total long-term debt and other	0			805
Series E-1 Tranche B Term Loan Facility
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	0			2,456
Total long-term debt and other	0			2,429
Series F Tranche B Term Loan Facility
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	3,521			3,892
Total long-term debt and other	$ 3,420			3,815
Stated interest rate	4.94%
Senior Secured Notes 6.50% Due March 2022
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 1,250			0
Total long-term debt and other	$ 1,235			0
Stated interest rate	6.50%		6.50%
Senior Secured Notes 7.00% Due March 2024
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 2,000			0
Total long-term debt and other	$ 1,975			0
Stated interest rate	7.00%		7.00%
Senior Secured Notes 5.50% Notes Due November 2025
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 1,750			0
Total long-term debt and other	$ 1,729			0
Stated interest rate	5.50%
6.75% Senior Notes due August 2018
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 0			1,600
Total long-term debt and other	$ 0			1,593
Stated interest rate	6.75%							6.75%
5.375% Senior Notes due March 2020
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 1,708			2,000
Total long-term debt and other	$ 1,699			1,985
Stated interest rate	5.375%				5.375%
7.00% Senior Notes due in October 2020
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 71			690
Total long-term debt and other	$ 71			689
Stated interest rate	7.00%											7.00%
6.375% Senior Notes due in October 2020
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 661			2,250
Total long-term debt and other	$ 656			2,231
Stated interest rate	6.375%								6.375%
7.50% Senior Notes due July 2021
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 1,625			1,625
Total long-term debt and other	$ 1,615			1,613
Stated interest rate	7.50%							7.50%
6.75% Senior Notes due in August 2021
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 650			650
Total long-term debt and other	$ 648			647
Stated interest rate	6.75%										6.75%
5.625 % Senior Notes due December 2021
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 900			900
Total long-term debt and other	$ 896			894
Stated interest rate	5.625%						5.625%
7.25% Senior Notes due in July 2022
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 550			550
Total long-term debt and other	$ 545			543
Stated interest rate	7.25%									7.25%
5.50% Senior Notes due March 2023
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 1,000			1,000
Total long-term debt and other	$ 993			992
Stated interest rate	5.50%					5.50%
5.875% Senior Notes due May 2023
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 3,250			3,250
Total long-term debt and other	$ 3,224			3,220
Stated interest rate	5.875%				5.875%
4.50% Senior Notes Due 2023
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 1,801			1,578
Total long-term debt and other	$ 1,787			1,563
Stated interest rate	4.50%				4.50%
6.125% Senior Notes due April 2025
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 3,250			3,250
Total long-term debt and other	$ 3,222			3,218
Stated interest rate	6.125%				6.125%
9.00% Senior Notes due December 2025
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 1,500			0
Total long-term debt and other	$ 1,464			0
Stated interest rate	9.00%	9.00%
Other
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 15			12
Total long-term debt and other	$ 15			12
Revolving credit facility
Long-term debt, net of unamortized debt discount [Line Items]
Stated interest rate	5.32%
Revolving credit facility | Revolving Credit Facility Due April 2018
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	$ 0			875
Total long-term debt and other	0			875
Revolving credit facility | Revolving Credit Facility Due April 2020
Long-term debt, net of unamortized debt discount [Line Items]
Principal Amount	250			0
Total long-term debt and other	$ 250			$ 0

FINANCING ARRANGEMENTS - Senior

FINANCING ARRANGEMENTS - Senior Secured Credit Facilities 2015 Activity (Details) - USD ($)	May 29, 2015	Apr. 01, 2015	Jan. 22, 2015	Dec. 31, 2017	Mar. 28, 2017	Mar. 21, 2017	Feb. 20, 2015
Debt Instrument [Line Items]
Unamortized discounts				$ 308,000,000
Series A-3 Tranche A Term Loan Facility
Debt Instrument [Line Items]
Amount borrowed			$ 250,000,000
Incremental Term Loan Facilities
Debt Instrument [Line Items]
Debt issuance cost		$ 85,000,000
Unamortized discounts		21,000,000
Series A-4 Tranche A Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,000,000,000
Quarterly amortization rate, year one		5.00%
Quarterly amortization rate, year two		10.00%
Quarterly amortization rate, year three		20.00%
Series A-4 Tranche A Term Loan Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Margins		0.75%
Series A-4 Tranche A Term Loan Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Margins		1.25%
Series A-4 Tranche A Term Loan Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Margins		1.75%
Series A-4 Tranche A Term Loan Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Margins		2.25%
Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 4,150,000,000				$ 3,060,000,000
Debt issuance cost						$ 38,000,000
Quarterly amortization rate, year one		1.00%
Series F Tranche B Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Margins				2.50%
Variable rate floor (as a percent)		1.75%
Series F Tranche B Term Loan Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Margins		2.00%
Series F Tranche B Term Loan Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Margins		2.25%
Series F Tranche B Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Margins				3.50%
Variable rate floor (as a percent)		0.75%		0.75%
Series F Tranche B Term Loan Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Margins		3.00%
Series F Tranche B Term Loan Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Margins		3.25%
Series D-2 Tranche B Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Margins	1.75%
Variable rate floor (as a percent)	1.75%
Series D-2 Tranche B Term Loan Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread in future periods	1.75%
Series D-2 Tranche B Term Loan Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread in future periods	1.50%
Series D-2 Tranche B Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Margins	2.75%
Variable rate floor (as a percent)	0.75%
Series D-2 Tranche B Term Loan Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread in future periods	2.75%
Series D-2 Tranche B Term Loan Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread in future periods	2.50%
Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,500,000,000		$ 1,190,000,000
Revolving credit facility | Base Rate | Minimum
Debt Instrument [Line Items]
Margins				2.25%
Revolving credit facility | Base Rate | Maximum
Debt Instrument [Line Items]
Margins				2.75%
Revolving credit facility | LIBOR | Minimum
Debt Instrument [Line Items]
Margins				3.25%
Revolving credit facility | LIBOR | Maximum
Debt Instrument [Line Items]
Margins				3.75%
Salix | Incremental Term Loan Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 5,150,000,000					$ 5,150,000,000

FINANCING ARRANGEMENTS - Seni79

FINANCING ARRANGEMENTS - Senior Secured Credit Facilities 2016 Activity (Details)	Mar. 21, 2017USD ($)	Aug. 23, 2016	Apr. 11, 2016USD ($)	Apr. 10, 2016USD ($)
April 2016 Amendment
Debt Instrument [Line Items]
Minimum interest coverage maintenance covenant			2.75	3
Costs, fees and expenses	$ 250,000,000		$ 175,000,000
Restructuring charges			125,000,000	$ 200,000,000
Fees and expenses			$ 75,000,000	$ 150,000,000
Leverage ratio			4.50
Aggregate cap			$ 250,000,000
Transaction cap			4
Interest rate margin			1.00%
August 2016 Amendment
Debt Instrument [Line Items]
Minimum interest coverage maintenance covenant		2
Interest rate margin		0.50%
Fiscal Quarter Ending June 2016 Through March 2017 | August 2016 Amendment
Debt Instrument [Line Items]
Minimum interest coverage maintenance covenant		2.75
Fiscal Quarter After March 2017 | August 2016 Amendment
Debt Instrument [Line Items]
Minimum interest coverage maintenance covenant		3

FINANCING ARRANGEMENTS - Seni80

FINANCING ARRANGEMENTS - Senior Secured Credit Facilities 2017 Activity (Details)	Jan. 30, 2018USD ($)	Nov. 21, 2017USD ($)	Nov. 10, 2017USD ($)	Oct. 05, 2017USD ($)	Aug. 15, 2017USD ($)	Jul. 03, 2017USD ($)	Mar. 28, 2017USD ($)	Mar. 21, 2017USD ($)	Mar. 03, 2017USD ($)	Apr. 11, 2016USD ($)	Apr. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 09, 2018USD ($)	Mar. 20, 2017	Apr. 10, 2016	Apr. 01, 2015USD ($)	Jan. 22, 2015USD ($)
Debt Instrument [Line Items]
Repayments of long-term debt													$ 14,203,000,000	$ 2,436,000,000	$ 2,055,000,000
Aggregate principal amount													9,560,000,000
Loss on extinguishment of debt					$ 1,000,000								122,000,000	0	20,000,000
Long-term Debt													25,444,000,000	29,846,000,000
Restricted cash													77,000,000	0	$ 0
Senior Credit Facilities
Debt Instrument [Line Items]
Repayments of long-term debt									$ 1,086,000,000
Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Repayments of long-term debt		$ 750,000,000	$ 181,000,000	$ 923,000,000		$ 811,000,000					$ 220,000,000
Maximum borrowing capacity								$ 3,060,000,000											$ 4,150,000,000
Quarterly amortization rate, percentage								1.25%									0.25%
Annual amortization rate, percentage								5.00%									1.00%
Aggregate principal amount													$ 3,060,000,000
Stated interest rate													4.94%
Loss on extinguishment of debt								$ 27,000,000
Debt issuance cost								38,000,000
Payments of debt restructuring costs								3,000,000
Long-term Debt													$ 3,420,000,000	3,815,000,000
Series F Tranche B Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Margins													2.50%
Series F Tranche B Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Margins													3.50%
Senior Unsecured Notes
Debt Instrument [Line Items]
Repayments of long-term debt												$ 1,132,000,000	$ 4,100,000,000
Aggregate principal amount								$ 1,100,000,000					5,000,000,000
Stated interest rate								6.75%
Loss on extinguishment of debt												$ 36,000,000
April 2016 Amendment
Debt Instrument [Line Items]
Minimum interest coverage maintenance covenant										2.75								3
Extraordinary, unusual or nonrecurring expenses permitted to be added back to EBIDTA								$ 500,000,000
Costs, fees and expenses								250,000,000		$ 175,000,000
Revolving Credit Facility Due April 2020
Debt Instrument [Line Items]
Collateral to secure debt													127,000,000
Revolving credit facility
Debt Instrument [Line Items]
Repayments of long-term debt													$ 625,000,000
Maximum borrowing capacity							$ 1,190,000,000													$ 1,500,000,000
Stated interest rate													5.32%
Repayments of lines of credit								$ 350,000,000
Loss on extinguishment of debt							1,000,000
Maturity date extension, other indebtedness for borrowed money threshold							750,000,000
Amount to mature as due unless terminated							$ 310,000,000
Revolving credit facility | Revolving Credit Facility Due April 2020
Debt Instrument [Line Items]
Prepayment premium, percent		1.00%
Debt prepayment penalty		$ 38,000,000
Long-term Debt													$ 250,000,000	$ 0
Remaining borrowing capacity													1,156,000,000
Revolving credit facility | Revolving Credit Facility Due April 2020 | Base Rate
Debt Instrument [Line Items]
Margins		2.50%
Revolving credit facility | Revolving Credit Facility Due April 2020 | LIBOR
Debt Instrument [Line Items]
Margins		3.50%
Letter of Credit | Revolving Credit Facility Due April 2020
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 300,000,000
Long-term Debt													94,000,000
Collateral to secure debt													$ 50,000,000
March 31, 2017 To March 31, 2019
Debt Instrument [Line Items]
Minimum interest coverage maintenance covenant								1.50
Secured leverage ratio								3
April 1, 2019 And Thereafter
Debt Instrument [Line Items]
Minimum interest coverage maintenance covenant								1.75
Secured leverage ratio								2.75
Subsequent event
Debt Instrument [Line Items]
Letters of credit																$ 77,000,000
Subsequent event | Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Repayments of long-term debt	$ 200,000,000

FINANCING ARRANGEMENTS - Curren

FINANCING ARRANGEMENTS - Current Description Of Senior Secured Credit Facilities (Details)	Apr. 01, 2015	Dec. 31, 2017
Senior Secured Credit Facilities
Debt Instrument [Line Items]
Percentage of net cash proceeds of insurance and condemnation proceeds for property or asset losses		100.00%
Percentage of cash proceeds from issuance of equity securities payable as mandatory prepayments		50.00%
Percentage of cash proceeds from incurrence of debt		100.00%
Percentage of annual excess cash flow		50.00%
Percentage of cash proceeds from asset sales outside the ordinary course of business payable as mandatory prepayments		100.00%
Prepayment premium, percent		1.00%
Percentage of capital stock of the entity and domestic subsidiaries pledged as collateral for borrowings		100.00%
Percentage of capital stock of foreign subsidiaries pledged as collateral for borrowings		65.00%
Senior Secured Credit Facilities | Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Margins		0.50%
Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Stated interest rate		4.94%
Series F Tranche B Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Margins		2.50%
Variable rate floor (as a percent)	1.75%
Series F Tranche B Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Margins		3.50%
Variable rate floor (as a percent)	0.75%	0.75%
Revolving credit facility
Debt Instrument [Line Items]
Stated interest rate		5.32%
Commitment fee, unutilized commitments, percentage		0.50%
Minimum | Series F Tranche B Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Margins	2.00%
Minimum | Series F Tranche B Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Margins	3.00%
Minimum | Revolving credit facility | Base Rate
Debt Instrument [Line Items]
Margins		2.25%
Minimum | Revolving credit facility | LIBOR
Debt Instrument [Line Items]
Margins		3.25%
Maximum | Series F Tranche B Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Margins	2.25%
Maximum | Series F Tranche B Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Margins	3.25%
Maximum | Revolving credit facility | Base Rate
Debt Instrument [Line Items]
Margins		2.75%
Maximum | Revolving credit facility | LIBOR
Debt Instrument [Line Items]
Margins		3.75%

FINANCING ARRANGEMENTS - Seni82

FINANCING ARRANGEMENTS - Senior Secured Notes (Details) - USD ($)	Mar. 21, 2017	Dec. 31, 2017	Dec. 18, 2017	Nov. 21, 2017	Oct. 17, 2017	Aug. 15, 2017	Oct. 04, 2012	Sep. 28, 2010
Debt Instrument [Line Items]
Redemption price percentage due to change in control (as a percent)		101.00%
Aggregate principal amount		$ 9,560,000,000
Senior Secured Notes 6.50% Due March 2022
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,250,000,000
Stated interest rate	6.50%	6.50%
Redemption price percentage (as a percent)		100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings		40.00%
Senior Secured Notes 7.00% Due March 2024
Debt Instrument [Line Items]
Aggregate principal amount	$ 2,000,000,000
Stated interest rate	7.00%	7.00%
Redemption price percentage (as a percent)		100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings		40.00%
Senior Unsecured Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,100,000,000	$ 5,000,000,000
Stated interest rate	6.75%
Repurchased face amount	$ 1,100,000,000					$ 500,000,000
Senior Secured Notes 5.50% Notes Due November 2025
Debt Instrument [Line Items]
Stated interest rate		5.50%
6.375% Senior Notes due in October 2020
Debt Instrument [Line Items]
Stated interest rate		6.375%					6.375%
Repurchased face amount			$ 1,021,000,000		$ 569,000,000
7.00% Senior Notes due in October 2020
Debt Instrument [Line Items]
Stated interest rate		7.00%						7.00%
Repurchased face amount			$ 188,000,000		431,000,000
Senior Notes
Debt Instrument [Line Items]
Redemption price percentage due to change in control (as a percent)		101.00%
Aggregate principal amount		$ 1,500,000,000
Senior Notes | Senior Secured Notes 5.50% Notes Due November 2025
Debt Instrument [Line Items]
Aggregate principal amount				$ 750,000,000	$ 1,000,000,000
Stated interest rate					5.50%
Redemption price percentage (as a percent)		100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings		40.00%
Revolving credit facility
Debt Instrument [Line Items]
Stated interest rate		5.32%
Repayments of lines of credit	$ 350,000,000

FINANCING ARRANGEMENTS - Seni83

FINANCING ARRANGEMENTS - Senior Unsecured Notes (Details) € in Millions, $ in Millions	Dec. 18, 2017USD ($)	Aug. 15, 2017USD ($)	Mar. 27, 2015USD ($)	Mar. 27, 2015EUR (€)	Feb. 20, 2015USD ($)	Jan. 30, 2015USD ($)	Dec. 02, 2013USD ($)	Jul. 12, 2013USD ($)	Oct. 04, 2012USD ($)	Mar. 08, 2011USD ($)	Feb. 08, 2011USD ($)	Sep. 28, 2010USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Oct. 17, 2017USD ($)	Mar. 21, 2017USD ($)
Debt Instrument [Line Items]
Redemption price percentage due to change in control (as a percent)														101.00%
Repayments of long-term debt														$ 14,203	$ 2,436	$ 2,055
Loss on extinguishment of debt		$ 1												$ 122	$ 0	$ 20
7.00% Senior Notes due in October 2020
Debt Instrument [Line Items]
Stated interest rate												7.00%		7.00%
Amount borrowed												$ 700
Repurchased face amount	$ 188																$ 431
6.75% Senior Notes due in August 2021
Debt Instrument [Line Items]
Stated interest rate											6.75%			6.75%
Amount borrowed											$ 650
7.25% Senior Notes due in July 2022
Debt Instrument [Line Items]
Stated interest rate										7.25%				7.25%
Amount borrowed										$ 550
6.375% Senior Notes due in October 2020
Debt Instrument [Line Items]
Stated interest rate									6.375%					6.375%
Amount borrowed									$ 1,750
Repurchased face amount	1,021																$ 569
6.375% Senior Notes due in October 2020
Debt Instrument [Line Items]
Amount borrowed									$ 500
6.75% Senior Notes due August 2018
Debt Instrument [Line Items]
Stated interest rate								6.75%						6.75%
Amount borrowed								$ 1,600
7.50% Senior Notes due July 2021
Debt Instrument [Line Items]
Stated interest rate								7.50%						7.50%
Amount borrowed								$ 1,625
Senior Unsecured Notes
Debt Instrument [Line Items]
Stated interest rate																		6.75%
Repurchased face amount		$ 500																$ 1,100
Repayments of long-term debt													$ 1,132	$ 4,100
Loss on extinguishment of debt													$ 36
5.625 % Senior Notes due December 2021
Debt Instrument [Line Items]
Stated interest rate							5.625%							5.625%
Amount borrowed							$ 900
5.50% Senior Notes due March 2023
Debt Instrument [Line Items]
Stated interest rate						5.50%								5.50%
Amount borrowed						$ 1,000
Redemption price percentage (as a percent)						100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings						40.00%
5.375% Senior Notes due March 2020
Debt Instrument [Line Items]
Stated interest rate			5.375%											5.375%
Amount borrowed			$ 2,000
Repurchased face amount	$ 291
Redemption price percentage (as a percent)			100.00%	100.00%
5.875% Senior Notes due May 2023
Debt Instrument [Line Items]
Stated interest rate			5.875%											5.875%
Amount borrowed			$ 3,250
Redemption price percentage (as a percent)														100.00%
4.50% Senior Notes Due 2023
Debt Instrument [Line Items]
Stated interest rate			4.50%											4.50%
Amount borrowed | €				€ 1,500
Redemption price percentage (as a percent)														100.00%
6.125% Senior Notes due April 2025
Debt Instrument [Line Items]
Stated interest rate			6.125%											6.125%
Amount borrowed			$ 3,250
Redemption price percentage (as a percent)														100.00%
5.375%, 5.875%, 4.50% and 6.125% Senior Unsecured Notes
Debt Instrument [Line Items]
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings			40.00%	40.00%
9.00% Senior Notes due December 2025
Debt Instrument [Line Items]
Stated interest rate	9.00%													9.00%
Amount borrowed	$ 1,500
Redemption price percentage (as a percent)	100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings	40.00%
Senior Notes
Debt Instrument [Line Items]
Redemption price percentage due to change in control (as a percent)														101.00%
Salix
Debt Instrument [Line Items]
Restricted cash			$ 10,340
Salix | 5.375%, 5.875%, 4.50% and 6.125% Senior Unsecured Notes
Debt Instrument [Line Items]
Amount borrowed					$ 10,100

FINANCING ARRANGEMENTS - Conver

FINANCING ARRANGEMENTS - Convertible Notes (Details)	3 Months Ended
	Jun. 30, 2015USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Apr. 01, 2015USD ($)tranche
Debt Instrument [Line Items]
Total gross maturities		$ 25,752,000,000	$ 30,169,000,000
Convertible Debt | Convertible Notes 2.75% Due May 2015
Debt Instrument [Line Items]
Debt number of tranches | tranche				2
Stated interest rate	2.75%			2.75%
Total gross maturities				$ 345,000,000
Average price per principal amount	$ 3,729.46
Convertible Debt | Convertible Notes 1.5% Due March 2019
Debt Instrument [Line Items]
Stated interest rate	1.50%			1.50%
Total gross maturities				$ 690,000,000
Average price per principal amount	$ 2,663.26

FINANCING ARRANGEMENTS - Commit

FINANCING ARRANGEMENTS - Commitment Letters (Details) - USD ($)	Mar. 27, 2015	Feb. 20, 2015	Mar. 31, 2015	Dec. 31, 2015	Apr. 01, 2015
Debt Instrument [Line Items]
Issuance of common shares	$ 1,450,000,000			$ 1,482,000,000
Salix
Debt Instrument [Line Items]
Issuance of common shares	$ 1,450,000,000
Salix | Senior Credit Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 5,550,000,000
Salix | Senior Unsecured Bridge Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		9,600,000,000
Salix | Series C-2 Tranche B Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		15,250,000,000
Salix | Incremental Term Loan Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity		5,150,000,000			$ 5,150,000,000
Salix | 5.375%, 5.875%, 4.50% and 6.125% Senior Unsecured Notes
Debt Instrument [Line Items]
Amount borrowed		$ 10,100,000,000
Salix | Amended and Restated Commitment Letter
Debt Instrument [Line Items]
Deferred financing costs expensed			$ 72,000,000

FINANCING ARRANGEMENTS - Maturi

FINANCING ARRANGEMENTS - Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Weighted average interest rate	6.07%	5.75%
2,018	$ 209
2,019	0
2,020	2,690
2,021	3,175
2,022	5,115
Thereafter	14,563
Total gross maturities	25,752	$ 30,169
Unamortized discounts	(308)
Total long-term debt and other	$ 25,444	$ 29,846

FINANCING ARRANGEMENTS - Additi

FINANCING ARRANGEMENTS - Additional Information (Details) - USD ($)	Jan. 30, 2018	Nov. 21, 2017	Nov. 10, 2017	Oct. 05, 2017	Jul. 03, 2017	Apr. 30, 2017	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 21, 2017
Debt Instrument [Line Items]
Repayments of long-term debt								$ 14,203,000,000	$ 2,436,000,000	$ 2,055,000,000
Aggregate principal amount								9,560,000,000
Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Repayments of long-term debt		$ 750,000,000	$ 181,000,000	$ 923,000,000	$ 811,000,000	$ 220,000,000
Aggregate principal amount								3,060,000,000
Senior Secured Credit Facilities
Debt Instrument [Line Items]
Expected Consolidated Excess Cash Flow payment								206,000,000
Short Term Obligations And Assumed Lines Of Credit Not Related to Senior Notes and Facilities
Debt Instrument [Line Items]
Current debt								3,000,000
Series A-3 And Series A-4 Tranche A Term Loan Facilities And Series D-2, Series C-2, And Series E-1 Tranche B Term Loan Facilities
Debt Instrument [Line Items]
Repayments of long-term debt								9,478,000,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Repayments of long-term debt							$ 1,132,000,000	4,100,000,000
Aggregate principal amount								5,000,000,000			$ 1,100,000,000
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount								1,500,000,000
Revolving credit facility
Debt Instrument [Line Items]
Repayments of long-term debt								$ 625,000,000
Subsequent event | Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Repayments of long-term debt	$ 200,000,000

PENSION AND POSTRETIREMENT EM88

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017USD ($)defined_benefit_plan	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Future benefit payments period		10 years
Contributions recognized		$ 22	$ 28	$ 28
Pension Benefit Plans | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected unrecognized prior service credits during next year		1
Expected unrecognized loss during next year		1
Estimated company contributions in current fiscal year		$ 7
Percentage of expected return on plan assets		3.84%	5.46%	5.60%
Pension Benefit Plans | Ireland
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of defined benefit plans | defined_benefit_plan		2
Percentage of expected return on plan assets		4.00%
Percentage allocation of fund		92.00%	91.00%
Pension Benefit Plans | Ireland | Scenario, Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of expected return on plan assets	3.75%
Pension Benefit Plans | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated company contributions in current fiscal year		$ 5
Percentage of expected return on plan assets		7.50%	7.50%	7.50%
Pension Benefit Plans | U.S. Plan | Scenario, Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of expected return on plan assets	7.50%
Postretirement Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution maximum age		65 years
Estimated company contributions in current fiscal year		$ 6
Percentage of expected return on plan assets		0.00%	5.50%	5.50%
Postretirement Benefit Plan | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected unrecognized prior service credits during next year		$ 3

PENSION AND POSTRETIREMENT EM89

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Postretirement Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Unrecognized actuarial (losses) gains	$ (4)	$ (6)	$ (6)
Unrecognized prior service credits	20	23	23
U.S. Plan | Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Unrecognized actuarial (losses) gains	(18)	(26)	(24)
Unrecognized prior service credits	0	0	0
Non-U.S. Plans | Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Unrecognized actuarial (losses) gains	(56)	(61)	(40)
Unrecognized prior service credits	$ 29	$ 26	$ 24

PENSION AND POSTRETIREMENT EM90

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Components of net periodic benefit cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 2
Interest cost	2	2	2
Expected return on plan assets	0	0	0
Amortization of net loss	0	0	0
Amortization of prior service credit	(3)	(3)	(3)
Settlement loss recognized	0	0	0
Other	0	0	0
Net periodic (benefit) cost	(1)	(1)	1
U.S. Plan | Pension Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	2	2
Interest cost	8	8	10
Expected return on plan assets	(13)	(13)	(15)
Amortization of net loss	0	0	0
Amortization of prior service credit	0	0	0
Settlement loss recognized	0	0	0
Other	0	0	0
Net periodic (benefit) cost	(3)	(3)	(3)
Non-U.S. Plans | Pension Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3	3
Interest cost	5	6	6
Expected return on plan assets	(5)	(7)	(7)
Amortization of net loss	2	0	1
Amortization of prior service credit	(1)	(1)	(1)
Settlement loss recognized	0	0	2
Other	0	2	0
Net periodic (benefit) cost	$ 4	$ 3	$ 4

PENSION AND POSTRETIREMENT EM91

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Change in Benefit Obligation, Plan Assets and Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Postretirement Benefit Plan
Change in Projected benefit Obligation
Projected benefit obligation, beginning of year	$ 52	$ 58
Service cost	0	0	$ 2
Interest cost	2	2	2
Employee contributions	1	1
Plan amendments	0	(2)
Settlements	0	0
Benefits paid	(6)	(6)
Actuarial (gains) losses	(1)	(1)
Currency translation adjustments	0	0
Other	0	0
Projected benefit obligation, end of year	48	52	58
Change in Plan Assets
Fair value of plan assets, beginning of year	0	4
Actual return on plan assets	0	(1)
Employee contributions	1	1
Company contributions	5	2
Settlements	0	0
Benefits paid	(6)	(6)
Currency translation adjustments	0	0
Fair value of plan assets, end of year	0	0	4
Funded Status at end of year	(48)	(52)
Recognized as:
Accrued and other current liabilities	(6)	(6)
Other non-current liabilities	(42)	(46)
U.S. Plan | Pension Benefit Plans
Change in Projected benefit Obligation
Projected benefit obligation, beginning of year	230	232
Service cost	2	2	2
Interest cost	8	8	10
Employee contributions	0	0
Plan amendments	0	0
Settlements	0	0
Benefits paid	(15)	(15)
Actuarial (gains) losses	9	3
Currency translation adjustments	0	0
Other	0	0
Projected benefit obligation, end of year	234	230	232
Change in Plan Assets
Fair value of plan assets, beginning of year	181	182
Actual return on plan assets	30	14
Employee contributions	0	0
Company contributions	10	0
Settlements	0	0
Benefits paid	(15)	(15)
Currency translation adjustments	0	0
Fair value of plan assets, end of year	206	181	182
Funded Status at end of year	(28)	(49)
Recognized as:
Accrued and other current liabilities	0	0
Other non-current liabilities	(28)	(49)
Non-U.S. Plans | Pension Benefit Plans
Change in Projected benefit Obligation
Projected benefit obligation, beginning of year	230	217
Service cost	3	3	3
Interest cost	5	6	6
Employee contributions	0	0
Plan amendments	0	(4)
Settlements	(1)	(5)
Benefits paid	(4)	(5)
Actuarial (gains) losses	(9)	25
Currency translation adjustments	30	(8)
Other	0	1
Projected benefit obligation, end of year	254	230	217
Change in Plan Assets
Fair value of plan assets, beginning of year	128	126
Actual return on plan assets	7	7
Employee contributions	0	0
Company contributions	7	9
Settlements	(1)	(4)
Benefits paid	(4)	(5)
Currency translation adjustments	18	(5)
Fair value of plan assets, end of year	155	128	$ 126
Funded Status at end of year	(99)	(102)
Recognized as:
Accrued and other current liabilities	(2)	(2)
Other non-current liabilities	$ (97)	$ (100)

PENSION AND POSTRETIREMENT EM92

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Underfunded Plans (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
U.S. Plan
Underfunded plans having accumulated benefit obligations exceeding the fair value of plan assets
Projected benefit obligation	$ 234	$ 230
Accumulated benefit obligation	234	230
Fair value of plan assets	206	181
Non-U.S. Plans
Underfunded plans having accumulated benefit obligations exceeding the fair value of plan assets
Projected benefit obligation	254	230
Accumulated benefit obligation	244	221
Fair value of plan assets	$ 155	$ 128

PENSION AND POSTRETIREMENT EM93

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Future benefit payments for the pension benefit plans (Details) $ in Millions	Dec. 31, 2017USD ($)
Pension Benefit Plans | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2,018	$ 14
2,019	19
2,020	19
2,021	18
2,022	18
2023-2027	79
Pension Benefit Plans | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2,018	4
2,019	5
2,020	5
2,021	6
2,022	6
2023-2027	35
Postretirement Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2,018	6
2,019	5
2,020	5
2,021	4
2,022	4
2023-2027	$ 15

PENSION AND POSTRETIREMENT EM94

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Weighted-average assumptions used to determine net periodic benefit costs and benefit obligations (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Pension Benefit Plans | U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate - for determining net periodic benefit cost	4.04%	4.34%	3.90%
Expected rate of return on plan assets - for determining net periodic benefit cost	7.50%	7.50%	7.50%
Rate of compensation increase	0.00%	0.00%	0.00%
Discount rate - for determining benefit obligation	3.56%	4.04%
Rate of compensation increase - for determining benefit obligation	0.00%	0.00%
Pension Benefit Plans | Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate - for determining net periodic benefit cost	2.08%	2.74%	2.41%
Expected rate of return on plan assets - for determining net periodic benefit cost	3.84%	5.46%	5.60%
Rate of compensation increase	2.64%	2.87%	2.86%
Discount rate - for determining benefit obligation	2.29%	2.08%
Rate of compensation increase - for determining benefit obligation	2.87%	2.64%
Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate - for determining net periodic benefit cost	3.85%	4.13%	3.70%
Expected rate of return on plan assets - for determining net periodic benefit cost	0.00%	5.50%	5.50%
Rate of compensation increase	0.00%	0.00%	0.00%
Discount rate - for determining benefit obligation	3.47%	3.85%
Rate of compensation increase - for determining benefit obligation	0.00%	0.00%

PENSION AND POSTRETIREMENT EM95

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Actual Asset Allocations (Details) - Pension Benefit Plans	Dec. 31, 2017	Dec. 31, 2016
U.S. Plan | Equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	60.00%	61.00%
U.S. Plan | Fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	30.00%	39.00%
U.S. Plan | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	10.00%	0.00%
U.S. Plan | Cash
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	0.00%	0.00%
Non-U.S. Plans | Equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	23.00%	47.00%
Non-U.S. Plans | Fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	66.00%	42.00%
Non-U.S. Plans | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	11.00%	11.00%

PENSION AND POSTRETIREMENT EM96

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Fair value of pension and postretirement benefit plan assets assumed in connection with the Acquisition (Details) - Pension Benefit Plans - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 206	$ 181	$ 182
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	155	128	$ 126
Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	206	181
Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	155	128
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	14	10
Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	206	181
Significant Other Observable Inputs (Level 2) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	141	118
Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	14	10
Cash | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	14	10
Cash | Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash | Significant Other Observable Inputs (Level 2) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash | Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash | Significant Unobservable Inputs (Level 3) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. broad market | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	76	70
U.S. broad market | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. broad market | Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	76	70
U.S. broad market | Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Emerging markets | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	19	16
Emerging markets | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	0
Emerging markets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Emerging markets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Emerging markets | Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	19	16
Emerging markets | Significant Other Observable Inputs (Level 2) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	0
Emerging markets | Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Emerging markets | Significant Unobservable Inputs (Level 3) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Worldwide developed markets | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	29	25
Worldwide developed markets | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	35	59
Worldwide developed markets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Worldwide developed markets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Worldwide developed markets | Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	29	25
Worldwide developed markets | Significant Other Observable Inputs (Level 2) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	35	59
Worldwide developed markets | Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Worldwide developed markets | Significant Unobservable Inputs (Level 3) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Investment grade | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	62	52
Investment grade | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	10	10
Investment grade | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Investment grade | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Investment grade | Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	62	52
Investment grade | Significant Other Observable Inputs (Level 2) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	10	10
Investment grade | Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Investment grade | Significant Unobservable Inputs (Level 3) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Global high yield | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	18
Global high yield | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	4	1
Global high yield | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Global high yield | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Global high yield | Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	18
Global high yield | Significant Other Observable Inputs (Level 2) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	4	1
Global high yield | Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Global high yield | Significant Unobservable Inputs (Level 3) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Government bond funds | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	88	43
Government bond funds | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Government bond funds | Significant Other Observable Inputs (Level 2) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	88	43
Government bond funds | Significant Unobservable Inputs (Level 3) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Other assets | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	20	0
Other assets | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	3	5
Other assets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Other assets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Other assets | Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	20	0
Other assets | Significant Other Observable Inputs (Level 2) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	3	5
Other assets | Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Other assets | Significant Unobservable Inputs (Level 3) | Recurring basis | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 0	$ 0

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - USD ($)	Jun. 10, 2015	Mar. 27, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 18, 2015	Nov. 20, 2014
Equity, Class of Treasury Stock [Line Items]
Aggregate repurchase price of the entity's common shares repurchased			$ 0	$ 0	$ 72,000,000
Issuance of common stock (in shares)		7,286,432
Price per share (dollars per share)		$ 199
Issuance of common shares		$ 1,450,000,000			$ 1,482,000,000
Issuance costs		$ 18,000,000
Maximum additional purchase option as a percentage of shares issued in IPO		15.00%
Dendreon Corporation
Equity, Class of Treasury Stock [Line Items]
Equity issued (in shares)	213,610
Equity issued	$ 50,000,000
2015 Securities Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized amount of shares for repurchase						$ 3,000,000,000
Number of common shares repurchased			0
2014 Securities Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized amount of shares for repurchase							$ 2,000,000,000
Number of common shares repurchased					424,215
Aggregate repurchase price of the entity's common shares repurchased					$ 72,000,000
Excess of repurchase price over carrying value of securities repurchased, charged to accumulated deficit					$ 60,000,000

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative and Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	May 31, 2014
Components and classification of share-based compensation expense
Restructuring and integration costs				$ 52	$ 132	$ 362
Share based compensation expense		$ 6
Modified awards share based compensation expense						12
Tax benefits from share-based compensation						57
Share-based compensation				87	165	140
Research and development expenses
Components and classification of share-based compensation expense
Share-based compensation				8	7	6
Selling, general and administrative expenses
Components and classification of share-based compensation expense
Share-based compensation				79	158	134
Stock options
Components and classification of share-based compensation expense
Share-based compensation				18	16	17
RSUs
Components and classification of share-based compensation expense
Share-based compensation				$ 69	$ 149	$ 123
Chief Executive Officer
Components and classification of share-based compensation expense
Share-based compensation expense			$ 28
Chief Executive Officer | Employee Severance
Components and classification of share-based compensation expense
Restructuring and integration costs	$ 9
Chief Executive Officer | Special Termination Benefits
Components and classification of share-based compensation expense
Restructuring and integration costs	$ 2
2011 Omnibus Incentive Plan
Components and classification of share-based compensation expense
Shares reserved for future issuance							20,000,000
Number of shares available for future grants (in shares)				7,461,000
Maximum | 2011 Omnibus Incentive Plan
Components and classification of share-based compensation expense
Total number of shares approved for grant by the Company under the share-based compensation plans							18,000,000

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Options (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based compensation
Vesting period	4 years
Additional disclosures
Proceeds from exercise of stock options	$ 0	$ 33	$ 30
Stock options
Share-based compensation
Percentage of stock options that will vest on each of the first, second, third and fourth anniversaries from the date of grant	25.00%
Method and assumptions on valuation of stock options
Expected stock option life (years)	3 years	3 years 3 months 18 days	3 years 4 months 24 days
Expected volatility	67.30%	75.00%	44.50%
Risk-free interest rate	1.80%	1.10%	1.30%
Expected dividend yield	0.00%	0.00%	0.00%
Options
Beginning of the period (in shares)	4.1
Granted (in shares)	1.6
Exercised (in shares)	(0.1)
Expired or forfeited (in shares)	(1.1)
End of the period (in shares)	4.5	4.1
Vested and expected to vest at the end of the period (in shares)	4.2
Vested and exercisable at the end of the period (in shares)	1.4
Weighted- Average Exercise Price Per Share
Beginning of the period (in dollars per share)	$ 49.57
Granted (in dollars per share)	14.28
Exercised (in dollars per share)	5.16
Expired or forfeited (in dollars per share)	63.72
End of the period (in dollars per share)	34.65	$ 49.57
Vested and expected to vest at the end of the period (in dollars per share)	35.22
Vested and exercisable at the end of the period (in dollars per share)	$ 58.80
Weighted- Average Remaining Contractual Term (Years)
Outstanding at the end of the period	8 years 1 month 6 days
Vested and expected to vest at the end of the period	8 years
Vested and exercisable at the end of the period	6 years 7 months 6 days
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 10
Vested and expected to vest at the end of the period	9
Vested and exercisable at the end of the period	$ 0
Additional disclosures
Weighted-average grant date fair value of stock options (in dollars per share)	$ 5.97	$ 14.50	$ 73.10
Intrinsic value of stock options exercised in the period	$ 1	$ 65	$ 119
Proceeds from exercise of stock options	1	33	30
Remaining unrecognized compensation expense related to non-vested awards	$ 27
Weighted-average remaining requisite service period over which unrecognized compensation cost is expected to be amortized	1 year 10 months 24 days
Fair value of stock options vested	$ 20	$ 26	$ 26

SHARE-BASED COMPENSATION - RSUs

SHARE-BASED COMPENSATION - RSUs (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based compensation
Vesting period	4 years
RSUs
Share-based compensation
Percentage of vesting rights	33.00%
Vesting period	3 years
Time-Based RSUs
Share-based compensation
Remaining unrecognized compensation expense related to non-vested awards	$ 47
Weighted-average remaining requisite service period over which unrecognized compensation cost is expected to be amortized	1 year 10 months 24 days
Total fair value	$ 58	$ 43	$ 7
RSUs
Beginning of the period (in shares)	2,700,000
Granted (in shares)	3,600,000
Vested (in shares)	(1,000,000)
Forfeited (in shares)	(600,000)
End of the period (in shares)	4,700,000	2,700,000
Weighted- Average Grant-Date Fair Value Per Share
Beginning of the period (in dollars per share)	$ 43.96
Granted (in dollars per share)	11.92
Vested (in dollars per share)	57.34
Forfeited (in dollars per share)	19.24
End of the period (in dollars per share)	$ 19.09	$ 43.96
Performance-Based Restricted Stock Units
Share-based compensation
Remaining unrecognized compensation expense related to non-vested awards	$ 35
Weighted-average remaining requisite service period over which unrecognized compensation cost is expected to be amortized	1 year 10 months 24 days
Maximum common shares issuable upon vesting	3,427,493
RSUs
Beginning of the period (in shares)	1,800,000
Granted (in shares)	416,000
Vested (in shares)	(100,000)
Forfeited (in shares)	(300,000)
End of the period (in shares)	1,800,000	1,800,000
Weighted- Average Grant-Date Fair Value Per Share
Beginning of the period (in dollars per share)	$ 81.68
Granted (in dollars per share)	16.06
Vested (in dollars per share)	211.34
Forfeited (in dollars per share)	135.18
End of the period (in dollars per share)	$ 48.55	$ 81.68
Method and assumptions on valuation of stock options
Contractual term (years)	3 years
Expected Company share volatility, minimum	67.20%	78.20%	40.90%
Expected Company share volatility, maximum	77.20%	81.40%	60.30%
Risk-free interest rate, minimum	1.70%	1.00%	1.10%
Risk-free interest rate, maximum	1.80%	1.20%	2.10%
Performance-Based Restricted Stock Units | Minimum
Method and assumptions on valuation of stock options
Contractual term (years)		3 years	2 years 9 months 18 days
Performance-Based Restricted Stock Units | Maximum
Method and assumptions on valuation of stock options
Contractual term (years)		4 years	6 years 3 months 18 days
TSR Performance-Based Restricted Stock Units [Member]
RSUs
Granted (in shares)	208,000
Weighted- Average Grant-Date Fair Value Per Share
Granted (in dollars per share)	$ 16.35
ROTC Performance-Based Restricted Stock Units [Member]
RSUs
Granted (in shares)	208,000
Weighted- Average Grant-Date Fair Value Per Share
Granted (in dollars per share)	$ 15.76

ACCUMULATED OTHER COMPREHENS101

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 5,944	$ 3,258	$ 6,029	$ 5,401
Foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(1,877)	(2,074)
Pension adjustment, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(19)	(34)
Ending Balance
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (1,896)	$ (2,108)	$ (1,542)	$ (916)

RESEARCH AND DEVELOPMENT (Detai

RESEARCH AND DEVELOPMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Research and Development [Abstract]
Product related research and development	$ 328	$ 385	$ 306
Quality assurance	33	36	28
Research and development	$ 361	$ 421	$ 334

OTHER (INCOME) EXPENSE, NET (De

OTHER (INCOME) EXPENSE, NET (Details) - USD ($) $ in Millions	Dec. 28, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investment [Line Items]
Net loss (gain) on other sales of assets		$ 37	$ (6)	$ 8
Other post business combination expenses		0	0	183
Litigation and other matters		226	59	37
Other, net		1	20	67
Other (income) expense, net		(353)	73	295
Amendment in license agreement			20
Allergan Shareholder Class Actions
Investment [Line Items]
Litigation settlements	$ 290
AntiGrippin Litigation
Investment [Line Items]
Litigation and other matters				25
Valeant Co Parties | Allergan Shareholder Class Actions
Investment [Line Items]
Litigation settlements	$ 96
Salix
Investment [Line Items]
Litigation and other matters			90
Acceleration of unvested stock				168
Payroll taxes				3
Bonus payments				12
Salix | Xifaxan®, Relistor® and Apriso®
Investment [Line Items]
Litigation and other matters			(39)
Skincare Brand
Investment [Line Items]
(Gain) loss on sale of business		(309)	0	0
iNova
Investment [Line Items]
(Gain) loss on sale of business		(309)	0	0
Dendreon
Investment [Line Items]
(Gain) loss on sale of business		(97)	0	0
Sprout
Investment [Line Items]
(Gain) loss on sale of business		$ 98	0	$ 0
Ruconest Divestiture
Investment [Line Items]
Net loss (gain) on other sales of assets			$ 22

INCOME TAXES - Components of (R

INCOME TAXES - Components of (Recovery of) Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Components of loss before recovery of income taxes
Domestic	$ (2,032)	$ (1,804)	$ (1,516)
Foreign	291	(631)	1,361
Loss before (benefit from) provision for income taxes	(1,741)	(2,435)	(155)
Current:
Domestic	20	0	0
Foreign	146	241	77
Total	166	241	77
Deferred:
Domestic	2	0	(3)
Foreign	(4,313)	(268)	59
Total	(4,311)	(268)	56
Provision for (recovery of) income taxes	$ (4,145)	$ (27)	$ 133

INCOME TAXES - Schedule of Effe

INCOME TAXES - Schedule of Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Expected Canadian statutory rate	26.90%	26.90%	26.90%
Loss before (benefit from) provision for income taxes	$ (1,741)	$ (2,435)	$ (155)
Expected benefit from income taxes at Canadian statutory rate	(468)	(655)	(42)
Non-deductible amounts:
Non-deductible amount of share-based compensation	37	30	4
Adjustments to tax attributes	242	(147)	(87)
Impact of changes in enacted income tax rates	(747)	0	0
Canadian tax impact of foreign exchange gain or loss on U.S. dollar denominated debt held by VPII and its Canadian Affiliates	(157)	11	174
Change in valuation allowance related to foreign tax credits and net operating losses	(139)	155	114
Change in valuation allowance on Canadian deferred tax assets and tax rate changes	517	472	230
Change in uncertain tax positions	65	10	0
Foreign tax rate differences	(933)	101	107
Goodwill impairment	139	377	0
Tax differences on divestitures of businesses	(203)	0	(16)
Tax benefit on intra-entity transfers	(2,480)	(399)	(375)
Other	(18)	18	24
Provision for (recovery of) income taxes	$ (4,145)	$ (27)	$ 133

INCOME TAXES - Tax Effect of Ma

INCOME TAXES - Tax Effect of Major Items Recorded as Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Tax loss carryforwards	$ 2,485	$ 1,328
Tax credit carryforwards	59	422
Scientific Research and Experimental Development pool	57	53
Research and development tax credits	140	129
Provisions	589	563
Deferred revenue	11	15
Deferred financing and share issue costs	61	391
Share-based compensation	22	37
Total deferred tax assets	3,424	2,938
Less valuation allowance	(2,001)	(1,857)
Net deferred tax assets	1,423	1,081
Deferred tax liabilities:
Intangible assets	2,014	4,044
Outside basis differences	28	2,165
Plant, equipment and technology	18	24
Prepaid expenses	35	80
Other	75	56
Total deferred tax liabilities	2,170	6,369
Net deferred tax liability	$ (747)	$ (5,288)

INCOME TAXES - Additional Textu

INCOME TAXES - Additional Textual (Details) - USD ($)	Aug. 08, 2017	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
Income tax benefit			$ 4,145,000,000	$ 27,000,000	$ (133,000,000)
Tax Act - provisional net tax expense (benefit)			(975,000,000)
Tax Act - re-measurement of certain deferred tax assets and liabilities, income tax expense (benefit)			(774,000,000)
Tax Act - one-time transition tax on certain foreign earnings, income tax expense (benefit)			(88,000,000)
Tax Act - decrease in deferred tax asset attributable to certain legal accruals, income tax expense (benefit)			10,000,000
Tax Act - Outside basis differences in certain foreign subsidiaries, income tax expense (benefit)		$ 299,000,000
Reversal of previously established deferred tax liability, benefit			1,900,000,000
Net benefit related to the carryback of losses		400,000,000	400,000,000
Valuation allowance against deferred tax assets		2,001,000,000	2,001,000,000	1,857,000,000
Provisional deferred tax benefit related to intentions to amend prior tax filings			84,000,000
Unrecognized tax benefits including interest and penalties		598,000,000	598,000,000	423,000,000
Portion of unrecognized tax benefits, if recognized, would affect the Company's effective tax rate		273,000,000	273,000,000	185,000,000
Portion of unrecognized tax benefits that would not impact effective tax rate		325,000,000	325,000,000
Unrecognized tax benefits, net increase for tax positions of current year			147,000,000	16,000,000
Unrecognized tax benefits, net increase for tax positions of prior years			28,000,000	63,000,000
Accrued interest and penalties related to unrecognized tax benefits		41,000,000	41,000,000	39,000,000
Increase (decrease) recognized in interest and penalties			2,000,000	(7,000,000)
Estimated unrecognized tax benefits realized in next twelve months		0	0
Other Restructuring, Integration-related and Other Costs
Income Tax [Line Items]
Increase (decrease) in valuation allowance			491,000,000
Canadian Federal and Provincial
Income Tax [Line Items]
Increase (decrease) in valuation allowance			144,000,000
Accumulated losses available for federal and provincial purposes		5,047,000,000	5,047,000,000	3,456,000,000
Unclaimed investment tax credits and research and development credits		37,000,000	37,000,000	34,000,000
Valuation allowance against deferred tax assets		1,576,000,000	1,576,000,000	1,328,000,000
Canadian Federal and Provincial | Pooled Scientific Research and Experimental Development
Income Tax [Line Items]
Tax credit carryforward		210,000,000	210,000,000	195,000,000
United States - Federal
Income Tax [Line Items]
Accumulated losses available for federal and provincial purposes		1,703,000,000	1,703,000,000	651,000,000
Unclaimed investment tax credits and research and development credits		$ 95,000,000	95,000,000	$ 91,000,000
Foreign tax credits reversal			$ 342,000,000
Foreign | Australian Taxation Office
Income Tax [Line Items]
Notice of tax assessment, aggregate amount of possible loss	$ 117,000,000

INCOME TAXES - Federal Income T

INCOME TAXES - Federal Income Tax Returns by Jurisdiction (Details)	12 Months Ended
	Dec. 31, 2017
United States - Federal | Minimum
Income Taxes
Open Years	2,015
United States - Federal | Maximum
Income Taxes
Open Years	2,017
Canada | Minimum
Income Taxes
Open Years	2,005
Canada | Maximum
Income Taxes
Open Years	2,016
Germany | Minimum
Income Taxes
Open Years	2,013
Germany | Maximum
Income Taxes
Open Years	2,016
France | Minimum
Income Taxes
Open Years	2,013
France | Maximum
Income Taxes
Open Years	2,016
China | Minimum
Income Taxes
Open Years	2,015
China | Maximum
Income Taxes
Open Years	2,016
Ireland | Minimum
Income Taxes
Open Years	2,013
Ireland | Maximum
Income Taxes
Open Years	2,016
Netherlands | Minimum
Income Taxes
Open Years	2,015
Netherlands | Maximum
Income Taxes
Open Years	2,016
Australia | Minimum
Income Taxes
Open Years	2,011
Australia | Maximum
Income Taxes
Open Years	2,017

INCOME TAXES - Reconciliation S

INCOME TAXES - Reconciliation Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of the beginning and ending amounts of unrecognized tax benefits
Balance, beginning of year	$ 423	$ 344	$ 345
Additions based on tax positions related to the current year	145	16	5
Additions for tax positions of prior years	57	96	23
Reductions for tax positions of prior years	(18)	(20)	(39)
Lapse of statute of limitations	(9)	(13)	(5)
Balance, end of year	598	423	344
Salix
Reconciliation of the beginning and ending amounts of unrecognized tax benefits
Acquisition of Salix	$ 0	$ 0	$ 15

EARNINGS (LOSS) PER SHARE - Sch

EARNINGS (LOSS) PER SHARE - Schedule of Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net income (loss) attributable to Valeant Pharmaceuticals International, Inc.	$ 513	$ 1,301	$ (38)	$ 628	$ (515)	$ (1,218)	$ (302)	$ (374)	$ 2,404	$ (2,409)	$ (292)
Basic weighted-average number of common shares outstanding									350.2	347.3	342.7
Diluted effect of stock options, RSUs and other									1.6	0	0
Diluted weighted-average number of common shares outstanding									351.8	347.3	342.7
Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc.
Basic (in dollars per share)	$ 1.46	$ 3.71	$ (0.11)	$ 1.80	$ (1.47)	$ (3.49)	$ (0.88)	$ (1.08)	$ 6.86	$ (6.94)	$ (0.85)
Diluted (in dollars per share)	$ 1.45	$ 3.69	$ (0.11)	$ 1.79	$ (1.47)	$ (3.49)	$ (0.88)	$ (1.08)	$ 6.83	$ (6.94)	$ (0.85)

EARNINGS (LOSS) PER SHARE - Dil

EARNINGS (LOSS) PER SHARE - Dilutive Effect of Stock Options and RSUs, Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Anti-dilutive shares not included in the computation of diluted earnings per share [Line Items]
Basic weighted-average number of common shares outstanding	350,200,000	347,300,000	342,700,000
Diluted weighted-average number of common shares outstanding		350,100,000	348,800,000
Dilutive effect of stock options and RSUs
Anti-dilutive shares not included in the computation of diluted earnings per share [Line Items]
Dilutive effect of stock options and RSUs (in shares)		2,800,000	6,100,000
Dilutive effect of stock options
Anti-dilutive shares not included in the computation of diluted earnings per share [Line Items]
Dilutive effect of stock options and RSUs (in shares)	7,050,000	7,825,000	1,587,000

SUPPLEMENTAL CASH FLOW DISCL112

SUPPLEMENTAL CASH FLOW DISCLOSURES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-Cash Investing and Financing Activities
Contingent and deferred consideration for businesses acquired, at fair value	$ 0	$ 0	$ 1,696
Debt assumed in acquisition of businesses, at fair value	0	0	3,129
Other Payments
Interest paid	1,708	1,718	1,269
Income taxes paid	$ 179	$ 149	$ 95

LEGAL PROCEEDINGS (Details)

LEGAL PROCEEDINGS (Details) RUB in Millions

Dec. 28, 2017USD ($)

Nov. 06, 2017USD ($)

Oct. 12, 2017defendant

Jun. 30, 2017USD ($)

Jun. 16, 2017group

Apr. 14, 2017claim

Mar. 24, 2017case

Jul. 21, 2016USD ($)member

Dec. 03, 2015claim

Oct. 30, 2015case

Apr. 06, 2015action

Nov. 07, 2014class_action

Dec. 04, 2013USD ($)

Dec. 04, 2013RUB

Feb. 28, 2018USD ($)

Apr. 30, 2016USD ($)

Nov. 30, 2014USD ($)

Jun. 30, 2017USD ($)

Sep. 16, 2016action

Dec. 31, 2017USD ($)groupcaseaction

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)caseaction

Dec. 20, 2017USD ($)

Dec. 30, 2016case

Nov. 02, 2016USD ($)

Mar. 31, 2015manufacturer

Mar. 12, 2015class_action

Jul. 31, 2013manufacturer

Legal proceedings and other matters

Current accrued loss contingencies

$ 243,000,000

Non-current loss contingencies

20,000,000

Payments for legal settlements

$ 221,000,000

$ 69,000,000

$ 33,000,000

Salix

Legal proceedings and other matters

Recent suits filed | action

2

Number of punitive class action lawsuits | class_action

3

Payments for legal settlements

$ 210,000,000

Sprout | Minimum

Legal proceedings and other matters

Contractual obligations

$ 200,000,000

$ 200,000,000

Canada

Legal proceedings and other matters

Recent suits filed | case

6

New York

Legal proceedings and other matters

Recent suits filed | class_action

2

Unfavorable Regulatory Action | New Jersey

Legal proceedings and other matters

Recent suits filed | action

3

Violation of Canadian Provincial Securities Legislation | Canada

Legal proceedings and other matters

Recent suits filed | action

5

New claims filed but not yet served | action

2

Investigation by the State of Texas

Legal proceedings and other matters

Damages sought

$ 20,000,000

Valeant US Securities Litigation | New Jersey

Legal proceedings and other matters

Number of groups of investors | group

10

26

Valeant US Securities Litigation | Unfavorable Regulatory Action | New Jersey

Legal proceedings and other matters

Recent suits filed | case

4

Contact Lens Antitrust Class Actions

Legal proceedings and other matters

Number of manufacturers | manufacturer

3

Johnson & Johnson Talcum Powder Litigation

Legal proceedings and other matters

Recent suits filed | case

1

Number of lawsuits | case

1

1

Shower to Shower Product Liability Litigation

Legal proceedings and other matters

Number of lawsuits | case

140

Shower to Shower Product Liability Litigation | Canada

Legal proceedings and other matters

Number of lawsuits | case

2

Shower to Shower Product Liability Litigation | British Columbia

Legal proceedings and other matters

Number of lawsuits | case

1

Shower to Shower Product Liability Litigation | Quebec

Legal proceedings and other matters

Number of lawsuits | case

1

Arbitration with Alfa Wasserman

Legal proceedings and other matters

Damages sought

$ 285,000,000

Development costs

$ 80,000,000

Number of members on the arbitration tribunal | member

3

Mimetogen Pharmaceuticals Litigation

Legal proceedings and other matters

Damages sought

$ 20,000,000

Litigation settlements

$ 20,000,000

Salix Shareholder Class Actions

Legal proceedings and other matters

Number of lawsuits | class_action

6

AntiGrippin Litigation | Natur Produkt | Anti-Grippin Trademark

Legal proceedings and other matters

Recent suits filed | claim

2

Damages awarded to plaintiff | RUB

RUB 1,660

AntiGrippin Litigation | Natur Produkt | Anti-Grippin Trademark | Other Expense

Legal proceedings and other matters

Recognized charge during period

$ 50,000,000

Depomed/PDL Litigation

Legal proceedings and other matters

Litigation settlements

$ 13,000,000

Allergan Shareholder Class Actions

Legal proceedings and other matters

Litigation settlements

$ 290,000,000

Allergan Shareholder Class Actions | Valeant Co Parties

Legal proceedings and other matters

Litigation settlements

$ 96,000,000

Payment liability, percent

33.00%

Allergan Shareholder Class Actions | Pershing Square Parties

Legal proceedings and other matters

Litigation settlements

$ 195,000,000

Payment liability, percent

67.00%

Qui Tan Complaint

Legal proceedings and other matters

Number of other defendants named | defendant

3

Solodyn Antitrust Class Actions

Legal proceedings and other matters

Number of manufacturers | manufacturer

3

Number of claims settled | claim

2

Solodyn Antitrust Class Actions | Subsequent event

Legal proceedings and other matters

Damages awarded to plaintiff

$ 58,000,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Schedule of Lease Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Rental expense related to operating lease	$ 77	$ 84	$ 85
Operating Lease Obligations
2,018	73
2,019	60
2,020	50
2,021	37
2,022	34
Thereafter	132
Total	386
Capital Lease Obligations
2,018	2
2,019	1
2,020	1
2,021	1
2,022	1
Thereafter	0
Total	$ 6

COMMITMENTS AND CONTINGENCIE115

COMMITMENTS AND CONTINGENCIES - Other Commitments (Details) - USD ($)	Dec. 31, 2017	Oct. 31, 2015	Apr. 30, 2015	Apr. 01, 2015	Dec. 31, 2012	Mar. 31, 2010
Other commitments
Capital expenditures	$ 35,000,000
Milestone payments in terms of collaboration and license agreements, aggregate (up to)	935,000,000
Salix
Other commitments
Potential milestone payments in terms of collaboration and license agreements (up to)			$ 200,000,000
Possible contingent consideration (up to)				$ 650,000,000
Brodalumab | Pre-launch Milestone Payments
Other commitments
Possible contingent consideration (up to)	20,000,000
Brodalumab | Sales Based Milestone Payments
Other commitments
Possible contingent consideration (up to)	$ 175,000,000	$ 175,000,000
B&L and Nicox
Other commitments
Potential milestone payments in terms of collaboration and license agreements (up to)						$ 145,000,000
Medicis Pharmaceutical Corporation | Regulatory, Commercialization and Sales-Based Milestone Payments
Other commitments
Possible contingent consideration (up to)					$ 145,000,000

SEGMENT INFORMATION - Segment R

SEGMENT INFORMATION - Segment Revenues and Profit, Assets and Capital Expenditures, Depreciation & Amortization of Intangible Assets & Asset Impairments (Details)	Aug. 15, 2017USD ($)	Oct. 01, 2016USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)segment	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2016segment	Dec. 31, 2017USD ($)segment	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment											2	3
Number of operating segments | segment								3				3
Segment reporting information
Total revenues			$ 2,163,000,000	$ 2,219,000,000	$ 2,233,000,000	$ 2,109,000,000	$ 2,403,000,000	$ 2,479,000,000	$ 2,420,000,000	$ 2,372,000,000		$ 8,724,000,000	$ 9,674,000,000	$ 10,447,000,000
Operating income (loss)			(322,000,000)	$ 38,000,000	$ 175,000,000	$ 211,000,000	150,000,000	$ (863,000,000)	$ 81,000,000	$ 66,000,000		102,000,000	(566,000,000)	1,527,000,000
Amortization of intangible assets												(2,690,000,000)	(2,673,000,000)	(2,257,000,000)
Goodwill impairments		$ 0										(312,000,000)	(1,077,000,000)	0
Asset impairments												(714,000,000)	(422,000,000)	(304,000,000)
Restructuring and integration costs												(52,000,000)	(132,000,000)	(362,000,000)
Acquired in-process research and development costs												(5,000,000)	(34,000,000)	(106,000,000)
Acquisition-related contingent consideration												289,000,000	13,000,000	23,000,000
Other income (expense)												353,000,000	(73,000,000)	(295,000,000)
Interest income												12,000,000	8,000,000	4,000,000
Interest expense												(1,840,000,000)	(1,836,000,000)	(1,563,000,000)
Loss on extinguishment of debt	$ (1,000,000)											(122,000,000)	0	(20,000,000)
Foreign exchange and other												107,000,000	(41,000,000)	(103,000,000)
Loss before (benefit from) provision for income taxes												(1,741,000,000)	(2,435,000,000)	(155,000,000)
Total assets			37,497,000,000				43,529,000,000					37,497,000,000	43,529,000,000
Capital Expenditures, and Depreciation and Amortization
Total capital expenditures												171,000,000	235,000,000	235,000,000
Total depreciation and amortization of intangible assets												2,858,000,000	2,866,000,000	2,467,000,000
Total asset impairments												714,000,000	422,000,000	304,000,000
Operating Segments
Segment reporting information
Total revenues												8,724,000,000	9,674,000,000	10,447,000,000
Operating income (loss)												3,795,000,000	4,522,000,000	5,346,000,000
Asset impairments												(714,000,000)	(416,000,000)	(304,000,000)
Total assets			36,825,000,000				43,164,000,000					36,825,000,000	43,164,000,000
Capital Expenditures, and Depreciation and Amortization
Total capital expenditures												168,000,000	229,000,000	217,000,000
Total depreciation and amortization of intangible assets												2,833,000,000	2,831,000,000	2,431,000,000
Total asset impairments												714,000,000	416,000,000	304,000,000
Corporate
Segment reporting information
Operating income (loss)												(562,000,000)	(690,000,000)	(518,000,000)
Asset impairments												0	(6,000,000)	0
Total assets			672,000,000				365,000,000					672,000,000	365,000,000
Capital Expenditures, and Depreciation and Amortization
Total capital expenditures												3,000,000	6,000,000	18,000,000
Total depreciation and amortization of intangible assets												25,000,000	35,000,000	36,000,000
Total asset impairments												0	6,000,000	0
Bausch Lomb/International
Segment reporting information
Goodwill impairments												0
Bausch Lomb/International | Operating Segments
Segment reporting information
Total revenues												4,871,000,000	4,927,000,000	4,937,000,000
Operating income (loss)												1,440,000,000	1,483,000,000	1,686,000,000
Asset impairments												(165,000,000)	(150,000,000)	(60,000,000)
Total assets			13,042,000,000				16,201,000,000					13,042,000,000	16,201,000,000
Capital Expenditures, and Depreciation and Amortization
Total capital expenditures												159,000,000	221,000,000	197,000,000
Total depreciation and amortization of intangible assets												666,000,000	817,000,000	818,000,000
Total asset impairments												165,000,000	150,000,000	60,000,000
Branded Rx
Segment reporting information
Goodwill impairments												(312,000,000)
Branded Rx | Operating Segments
Segment reporting information
Total revenues												2,475,000,000	2,828,000,000	3,248,000,000
Operating income (loss)												1,361,000,000	1,517,000,000	1,875,000,000
Asset impairments												(344,000,000)	(218,000,000)	(190,000,000)
Total assets			18,316,000,000				21,143,000,000					18,316,000,000	21,143,000,000
Capital Expenditures, and Depreciation and Amortization
Total capital expenditures												5,000,000	5,000,000	15,000,000
Total depreciation and amortization of intangible assets												1,798,000,000	1,606,000,000	1,227,000,000
Total asset impairments												344,000,000	218,000,000	190,000,000
U.S. Diversified Products
Segment reporting information
Goodwill impairments												0
U.S. Diversified Products | Operating Segments
Segment reporting information
Total revenues												1,378,000,000	1,919,000,000	2,262,000,000
Operating income (loss)												994,000,000	1,522,000,000	1,785,000,000
Asset impairments												(205,000,000)	(48,000,000)	(54,000,000)
Total assets			$ 5,467,000,000				$ 5,820,000,000					5,467,000,000	5,820,000,000
Capital Expenditures, and Depreciation and Amortization
Total capital expenditures												4,000,000	3,000,000	5,000,000
Total depreciation and amortization of intangible assets												369,000,000	408,000,000	386,000,000
Total asset impairments												$ 205,000,000	$ 48,000,000	$ 54,000,000

SEGMENT INFORMATION - Revenues

SEGMENT INFORMATION - Revenues by Product Category (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue from External Customer [Line Items]
Total revenues	$ 2,163	$ 2,219	$ 2,233	$ 2,109	$ 2,403	$ 2,479	$ 2,420	$ 2,372	$ 8,724	$ 9,674	$ 10,447
Pharmaceuticals
Revenue from External Customer [Line Items]
Total revenues									4,377	5,167	6,058
Devices
Revenue from External Customer [Line Items]
Total revenues									1,532	1,504	1,480
OTC
Revenue from External Customer [Line Items]
Total revenues									1,529	1,581	1,583
Branded and Other Generics
Revenue from External Customer [Line Items]
Total revenues									1,157	1,284	1,171
Other revenues
Revenue from External Customer [Line Items]
Total revenues									$ 129	$ 138	$ 155

SEGMENT INFORMATION - Geographi

SEGMENT INFORMATION - Geographic Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues and long-lived assets by geographic region
Total revenues	$ 2,163	$ 2,219	$ 2,233	$ 2,109	$ 2,403	$ 2,479	$ 2,420	$ 2,372	$ 8,724	$ 9,674	$ 10,447
Long-lived assets	1,403				1,312				1,403	1,312
U.S. and Puerto Rico
Revenues and long-lived assets by geographic region
Total revenues									5,225	6,247	7,063
Long-lived assets	599				614				599	614
China
Revenues and long-lived assets by geographic region
Total revenues									331	300	272
Long-lived assets	28				26				28	26
Canada
Revenues and long-lived assets by geographic region
Total revenues									326	320	334
Long-lived assets	98				83				98	83
Japan
Revenues and long-lived assets by geographic region
Total revenues									223	232	206
Mexico
Revenues and long-lived assets by geographic region
Total revenues									201	189	204
Long-lived assets	50				50				50	50
Poland
Revenues and long-lived assets by geographic region
Total revenues									201	140	214
Long-lived assets	100				81				100	81
Russia
Revenues and long-lived assets by geographic region
Total revenues									200	165	169
France
Revenues and long-lived assets by geographic region
Total revenues									188	186	178
Long-lived assets	34				29				34	29
Germany
Revenues and long-lived assets by geographic region
Total revenues									157	157	159
Long-lived assets	70				60				70	60
Egypt
Revenues and long-lived assets by geographic region
Total revenues									152	196	51
Long-lived assets	47				41				47	41
Australia
Revenues and long-lived assets by geographic region
Total revenues									149	176	182
United Kingdom
Revenues and long-lived assets by geographic region
Total revenues									108	104	105
Brazil
Revenues and long-lived assets by geographic region
Total revenues									96	105	110
Other
Revenues and long-lived assets by geographic region
Total revenues									1,167	1,157	$ 1,200
Long-lived assets	74				72				74	72
Ireland
Revenues and long-lived assets by geographic region
Long-lived assets	235				198				235	198
Serbia
Revenues and long-lived assets by geographic region
Long-lived assets	30				25				30	25
Italy
Revenues and long-lived assets by geographic region
Long-lived assets	23				19				23	19
South Korea
Revenues and long-lived assets by geographic region
Long-lived assets	$ 15				$ 14				$ 15	$ 14

SEGMENT INFORMATION - Major Cus

SEGMENT INFORMATION - Major Customers (Details) - Customer concentration - Revenues	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
McKesson Corporation
Segment reporting information
Concentration risk, percentage	19.00%	21.00%	20.00%
AmerisourceBergen Corporation
Segment reporting information
Concentration risk, percentage	15.00%	13.00%	14.00%
Cardinal Health, Inc.
Segment reporting information
Concentration risk, percentage	13.00%	15.00%	12.00%

SUPPLEMENTARY DATA (UNAUDITE120

SUPPLEMENTARY DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 2,163	$ 2,219	$ 2,233	$ 2,109	$ 2,403	$ 2,479	$ 2,420	$ 2,372	$ 8,724	$ 9,674	$ 10,447
Expenses	2,485	2,181	2,058	1,898	2,253	3,342	2,339	2,306	8,622	10,240	8,920
Operating income (loss)	(322)	38	175	211	150	(863)	81	66	102	(566)	1,527
Net income (loss) attributable to Valeant Pharmaceuticals International, Inc.	$ 513	$ 1,301	$ (38)	$ 628	$ (515)	$ (1,218)	$ (302)	$ (374)	$ 2,404	$ (2,409)	$ (292)
Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc.:
Basic (in dollars per share)	$ 1.46	$ 3.71	$ (0.11)	$ 1.80	$ (1.47)	$ (3.49)	$ (0.88)	$ (1.08)	$ 6.86	$ (6.94)	$ (0.85)
Diluted (in dollars per share)	$ 1.45	$ 3.69	$ (0.11)	$ 1.79	$ (1.47)	$ (3.49)	$ (0.88)	$ (1.08)	$ 6.83	$ (6.94)	$ (0.85)
Net cash provided by operating activities	$ 578	$ 490	$ 268	$ 954	$ 512	$ 569	$ 449	$ 556	$ 2,290	$ 2,087	$ 2,257

SCHEDULE II - VALUATION AND 121

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 80	$ 67	$ 36
Charged to Costs and Expenses	33	57	39
Charged to Other Accounts	4	(22)	6
Deductions	(20)	(22)	(14)
Balance at End of Year	97	80	67
Deferred tax asset valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	1,857	1,367	859
Charged to Costs and Expenses	221	627	344
Charged to Other Accounts	(77)	(137)	164
Deductions	0	0	0
Balance at End of Year	$ 2,001	$ 1,857	$ 1,367