Bausch Health Companies (BHC) 10-Q 6 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 01, 2018
Document and Entity Information
Entity Registrant Name	Bausch Health Companies Inc.
Entity Central Index Key	885,590
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Smaller Reporting Company	false
Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		349,790,995

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 973	$ 720
Restricted cash	0	77
Trade receivables, net	2,041	2,130
Inventories, net	971	1,048
Prepaid expenses and other current assets	757	771
Total current assets	4,742	4,746
Property, plant and equipment, net	1,341	1,403
Intangible assets, net	12,655	15,211
Goodwill	13,290	15,593
Deferred tax assets, net	1,641	433
Other non-current assets	108	111
Total assets	33,777	37,497
Current liabilities:
Accounts payable	440	365
Accrued and other current liabilities	3,424	3,694
Current portion of long-term debt and other	298	209
Total current liabilities	4,162	4,268
Acquisition-related contingent consideration	282	344
Non-current portion of long-term debt	24,433	25,235
Deferred tax liabilities, net	1,131	1,180
Other non-current liabilities	532	526
Total liabilities	30,540	31,553
Commitments and contingencies (Note 18)
Equity
Common shares, no par value, unlimited shares authorized, 349,754,139 and 348,708,567 issued and outstanding at September 30, 2018 and December 31, 2017, respectively	10,117	10,090
Additional paid-in capital	409	380
Accumulated deficit	(5,320)	(2,725)
Accumulated other comprehensive loss	(2,053)	(1,896)
Total Bausch Health Companies Inc. shareholders’ equity	3,153	5,849
Noncontrolling interest	84	95
Total equity	3,237	5,944
Total liabilities and equity	$ 33,777	$ 37,497

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, no par value (in usd per share)	$ 0	$ 0
Common stock, shares issued (in shares)	349,754,139	348,708,567
Common stock, shares outstanding (in shares)	349,754,139	348,708,567

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues
Revenues	$ 2,136	$ 2,219	$ 6,259	$ 6,561
Expenses
Selling, general and administrative	614	623	1,847	1,943
Research and development	107	81	293	271
Amortization of intangible assets	658	657	2,142	1,915
Goodwill impairments	0	312	2,213	312
Asset impairments	89	406	434	629
Restructuring and integration costs	3	6	16	42
Acquired in-process research and development costs	0	0	1	5
Acquisition-related contingent consideration	(19)	(238)	(23)	(297)
Other income, net	(15)	(325)	(4)	(584)
Total expenses	2,019	2,181	8,668	6,137
Operating income (loss)	117	38	(2,409)	424
Interest income	3	3	9	9
Interest expense	(420)	(459)	(1,271)	(1,392)
Loss on extinguishment of debt	0	(1)	(75)	(65)
Foreign exchange and other	0	19	18	87
Loss before (provision for) benefit from income taxes	(300)	(400)	(3,728)	(937)
(Provision for) benefit from income taxes	(51)	1,700	(74)	2,829
Net (loss) income	(351)	1,300	(3,802)	1,892
Net loss (income) attributable to noncontrolling interest	1	1	(2)	(1)
Net (loss) income attributable to Bausch Health Companies Inc.	$ (350)	$ 1,301	$ (3,804)	$ 1,891
(Loss) earnings per share attributable to Bausch Health Companies Inc.:
Basic (in usd per share)	$ (1)	$ 3.71	$ (10.83)	$ 5.40
Diluted (in usd per share)	$ (1)	$ 3.69	$ (10.83)	$ 5.38
Weighted-average common shares
Basic (in shares)	351.5	350.4	351.1	350.1
Diluted (in shares)	351.5	352.3	351.1	351.4
Product sales
Revenues
Revenues	$ 2,108	$ 2,186	$ 6,173	$ 6,462
Expenses
Cost of goods sold (excluding amortization and impairments of intangible assets)	573	650	1,717	1,869
Other revenues
Revenues
Revenues	28	33	86	99
Expenses
Cost of goods sold (excluding amortization and impairments of intangible assets)	$ 9	$ 9	$ 32	$ 32

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (351)	$ 1,300	$ (3,802)	$ 1,892
Other comprehensive (loss) income
Foreign currency translation adjustment	13	81	(159)	227
Pension and postretirement benefit plan adjustments, net of income taxes	(1)	(3)	(2)	(4)
Other comprehensive (loss) income	12	78	(161)	223
Comprehensive (loss) income	(339)	1,378	(3,963)	2,115
Comprehensive (income) loss attributable to noncontrolling interest	4	1	2	3
Comprehensive (loss) income attributable to Bausch Health Companies Inc.	$ (335)	$ 1,379	$ (3,961)	$ 2,118

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Cash Flows From Operating Activities
Net (loss) income	$ (351)		$ 1,300	$ (3,802)	$ 1,892
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization of intangible assets				2,273	2,039
Amortization and write-off of debt discounts and debt issuance costs				62	100
Asset impairments	89		406	434	629
Loss (gain) on disposals of assets and businesses, net				26	(695)
Acquisition-related contingent consideration				(23)	(297)
Allowances for losses on trade receivable and inventories				48	71
Deferred income taxes				(2)	(2,985)
(Reductions) additions to accrued legal settlements	(40)		3	(30)	112
Insurance proceeds for legal settlement				0	60
Payments of accrued legal settlements				(222)	(221)
Goodwill impairments	0	$ 2,213	312	2,213	312	$ 312
Share-based compensation				65	70
Foreign exchange gain				(16)	(83)
Loss on extinguishment of debt	0		1	75	65
Payments of contingent consideration adjustments, including accretion				(2)	(3)
Other				(19)	(24)
Changes in operating assets and liabilities:
Trade receivables				56	338
Inventories				(8)	1
Prepaid expenses and other current assets				(53)	32
Accounts payable, accrued and other liabilities				107	299
Net cash provided by operating activities				1,182	1,712
Cash Flows From Investing Activities
Acquisition of businesses, net of cash acquired				5	0
Payments for intangible and other assets				(76)	(146)
Purchases of property, plant and equipment				(95)	(118)
Purchases of marketable securities				(5)	(4)
Proceeds from sale of marketable securities				5	2
Proceeds from sale of assets and businesses, net of costs to sell				32	3,063
Net cash (used in) provided by investing activities				(134)	2,797
Cash Flows From Financing Activities
Issuances of long-term debt, net of discount				7,471	6,231
Repayments of long-term debt				(8,200)	(9,249)
Repayments of short-term debt				(1)	(8)
Payments of employee withholding tax upon vesting of share-based awards				(10)	(4)
Payments of contingent consideration				(26)	(34)
Payments of deferred consideration				(18)	0
Payments of financing costs				(62)	(39)
Proceeds from exercise of stock options				1	0
Other				(6)	(18)
Net cash used in financing activities				(851)	(3,121)
Effect of exchange rate changes on cash and cash equivalents				(21)	39
Net increase in cash and cash equivalents and restricted cash				176	1,427
Cash and cash equivalents and restricted cash, beginning of period		797		797	542	542
Cash and cash equivalents and restricted cash, end of period	973		1,969	973	1,969	797
Cash and cash equivalents							$ 973	$ 720	$ 964
Restricted cash, current							0	77	928
Restricted cash, noncurrent							0		77
Cash and cash equivalents and restricted cash, end of period	$ 973	$ 797	$ 1,969	$ 797	$ 542	$ 542	$ 973	$ 797	$ 1,969

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS Bausch Health Companies Inc. (the “Company”), formerly known as Valeant Pharmaceuticals International, Inc., 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.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates The accompanying unaudited 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”) for interim financial reporting, which do not conform in all respects to the requirements of U.S. GAAP for annual financial statements. Accordingly, these notes to the unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements prepared in accordance with U.S. GAAP that are contained in the Company’s Annual Report on Form 10-K (as updated by the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and the Canadian Securities Administrators on August 10, 2018) for the year ended December 31, 2017 , filed with the SEC and the Canadian Securities Administrators. The unaudited consolidated financial statements have been prepared using accounting policies that are consistent with the policies used in preparing the Company’s audited consolidated financial statements for the year ended December 31, 2017 , except for the new accounting guidance adopted during the period. The unaudited consolidated financial statements reflect all normal and recurring adjustments necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full year. In preparing the unaudited 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 unaudited consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from these estimates. 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 results of operations and financial position could be materially impacted. Principles of Consolidation The unaudited consolidated financial statements include the accounts of the Company and those of its subsidiaries and any variable interest entities 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. Changes in Reportable Segments In the second quarter of 2018, the Company began operating in the following operating segments: (i) Bausch + Lomb/International, (ii) Salix, (iii) Ortho Dermatologics and (iv) Diversified Products. Prior to the second quarter of 2018, the Company operated in the following operating segments: (i) Bausch + Lomb/International, (ii) Branded Rx and (iii) U.S. Diversified Products. The Bausch + Lomb/International segment consists of the: (i) U.S. Bausch + Lomb and (ii) International reporting units. The Salix segment consists of the Salix reporting unit (originally part of the former Branded Rx segment). The Ortho Dermatologics segment consists of the: (i) Ortho Dermatologics (originally part of the former Branded Rx segment) and (ii) Global Solta (originally part of the former Branded Rx segment) reporting units. The Diversified Products segment consists of the: (i) Neurology and Other (originally part of the former U.S. Diversified Product segment), (ii) Generics (originally part of the former U.S. Diversified Product segment) and (iii) Dentistry (originally part of the former Branded Rx segment) reporting units. In 2017, the Neurology and Other reporting unit also included the: (i) oncology business (originally part of the former Branded Rx segment) and (ii) women's health business (originally part of the former Branded Rx segment). Upon divesting its equity interests in Dendreon Pharmaceuticals LLC (“Dendreon”) on June 28, 2017 and Sprout Pharmaceuticals, Inc. (“Sprout”) on December 20, 2017, the Company exited the oncology and women's health businesses, respectively. Prior period presentations of segment revenues and segment profits have been recast to conform to the current segment reporting structure. See Note 19, "SEGMENT INFORMATION" for additional information. Adoption of New Accounting Guidance 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. Entities had the option of using either a full retrospective or a modified retrospective approach to adopt the guidance. The Company completed its detailed assessment and training program for its personnel. Pursuant to the detailed assessment program, the Company reviewed its revenue arrangements and assessed the differences in accounting for such contracts under the new guidance as compared with prior revenue accounting guidance. Based upon review of current customer contracts, the Company concluded the implementation of the new guidance did not have a material quantitative impact on its consolidated financial statements as the timing of revenue recognition for product sales did not significantly change. The Company adopted this guidance effective January 1, 2018 using the modified retrospective approach. Accordingly, the amounts reported in the prior period have not been restated. The new guidance did however result in additional disclosures as to the nature, amounts, and concentrations of revenue. See Note 3, "REVENUE RECOGNITION" and Note 19, "SEGMENT INFORMATION" for additional details and the application of this guidance. In October 2016, the FASB issued guidance requiring an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than when the asset has been sold to an outside party. This guidance was effective for the Company January 1, 2018 and was applied using a modified retrospective approach through a cumulative-effect adjustment to accumulated deficit and deferred income taxes as of the effective date. The Company recorded a net cumulative-effect adjustment of $1,209 million to increase deferred income tax assets and decrease the opening balance of Accumulated deficit for the income tax consequences deferred from past intra-entity transfers involving assets other than inventory. 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 Company prospectively applied the new definition to all transactions effective January 1, 2018. 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 is 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 elected to adopt this guidance effective January 1, 2018. The Company tested goodwill for impairment upon adopting this guidance and recognized impairment charges of $2,213 million , related to its Salix reporting unit and Ortho Dermatologics reporting unit at January 1, 2018. See Note 8, "INTANGIBLE ASSETS AND GOODWILL" for additional details and the application of this guidance. Recently Issued Accounting Standards, Not Adopted as of September 30, 2018 In February 2016, the FASB issued guidance on lease accounting to increase transparency and comparability among organizations that lease buildings, equipment, and other assets by requiring the recognition of lease assets and lease liabilities on the balance sheet. Consistent with the current lease accounting standard, leases will continue to be classified as finance leases or operating leases. The classification is determined based on whether the risks and rewards, as well as substantive control, have been transferred to the Company and its determination will govern the pattern of lease cost recognition. 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 right of use 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. The new guidance is effective for annual reporting periods beginning after December 15, 2018. Early application is permitted. The Company will adopt the standard on January 1, 2019, and is electing to apply the modified retrospective approach to recognize a cumulative-effect adjustment to accumulated deficit at the adoption date. The Company also intends to elect the available practical expedients upon adoption. The Company continues to make progress on its implementation plan for adopting the new standard. The Company is in the process of updating its systems, processes and controls to track, record and account for its lease portfolio. The Company has selected a third-party software to assist in complying with the new standard and is in the process of configuring the software. The Company is also assessing the potential impact that embedded leases within its service arrangements have on its consolidated balance sheet. Although the Company anticipates that the inclusion of lease-related assets and liabilities will have a material impact on the consolidated balance sheets, the Company believes its adoption will not have a material impact on the consolidated statements of operations upon adoption. While the Company is still in the process of finalizing the assessment of the impacts on the consolidated balance sheets, based on the assessment to date, the Company currently believes the most significant impact relates to assets and liabilities arising from facilities, vehicles and equipment operating leases. The Company expects that accounting for capital leases will remain substantially unchanged under the new standard. The Company does not expect the new standard to have a material impact on lessor activities. 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 August 2018, the FASB issued guidance modifying the disclosure requirements for fair value measurement. The guidance is effective for annual periods beginning after December 15, 2019. The Company is permitted to early adopt any removed or modified disclosures upon issuance of this update and delay adoption of the additional disclosures until the effective date. The Company is evaluating the impact of adoption of this guidance on its disclosures. In August 2018, the FASB issued guidance modifying the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The guidance is effective for annual periods ending after December 15, 2020, with early adoption permitted. The Company is evaluating the impact of adoption of this guidance on its disclosures. In August 2018, the FASB issued guidance aligning the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance is effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years with early adoption permitted. The Company is evaluating the impact of adoption of this guidance on its financial position, results of operations and cash flows.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION The Company’s revenues are primarily generated from product sales that consist of: (i) branded pharmaceuticals, (ii) generic and branded generic pharmaceuticals, (iii) OTC products and (iv) medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment and aesthetics devices). Other revenues include alliance and service revenue from the licensing and co-promotion of products and contract service revenue primarily in the areas of dermatology and topical medication. Contract service revenue is derived primarily from contract manufacturing for third parties and is not material. See Note 19, "SEGMENT INFORMATION" for the disaggregation of revenue which depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by the economic factors of each category of customer contracts. Product Sales The Company recognizes revenue when the customer obtains control of promised goods or services and in an amount that reflects the consideration to which the Company expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, the Company applies the five-step revenue model to contracts within its scope: (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. A contract with the Company’s customers exists for each product sale. Where a contract with a customer contains more than one performance obligation, the Company allocates the transaction price to each distinct performance obligation based on its relative standalone selling price. The transaction price is adjusted for variable consideration which is discussed further below. The Company generally recognizes revenue for product sales at a point in time, when the customer obtains control of the products. Product Sales Provisions As is customary in the pharmaceutical industry, gross product sales are subject to a variety of deductions in arriving at reported net product sales. The transaction price for product sales is typically adjusted for variable consideration, which may be in the form of cash discounts, allowances, returns, rebates, chargebacks and distribution fees paid to customers. Provisions for variable consideration are established to reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration included in the transaction price may be constrained, and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in the future period. Provisions for these deductions are recorded concurrently with the recognition of gross product sales revenue and include cash discounts and allowances, chargebacks, and distribution fees, which are paid to direct customers, as well as rebates and returns, which can be paid to direct and indirect customers. Returns provision balances and volume discounts to direct customers are included in Accrued and other current liabilities. All other provisions related to direct customers are included in Trade receivables, net, while provision balances related to indirect customers are included in Accrued and other current liabilities. The following table presents the activity and ending balances of the Company’s variable consideration provisions for the nine months ended September 30, 2018 . Nine Months Ended September 30, 2018 (in millions) Discounts and Allowances Returns Rebates Chargebacks Distribution Fees Total Reserve balance, January 1, 2018 $ 167 $ 863 $ 1,094 $ 274 $ 148 $ 2,546 Current period provision 643 209 1,976 1,462 178 4,468 Payments and credits (632 ) (264 ) (1,939 ) (1,512 ) (167 ) (4,514 ) Reserve balance, September 30, 2018 $ 178 $ 808 $ 1,131 $ 224 $ 159 $ 2,500 Included in Rebates in the table above are cooperative advertising credits due to customers of approximately $29 million as of September 30, 2018, which are reflected as a reduction of Trade accounts receivable, net in the Consolidated Balance Sheets. The Company continually monitors its variable consideration provisions and evaluates the estimates used as additional information becomes available. Adjustments will be made to these provisions periodically to reflect new facts and circumstances that may indicate that historical experience may not be indicative of current and/or future results. The Company is required to make subjective judgments based primarily on its evaluation of current market conditions and trade inventory levels related to the Company's products. This evaluation may result in an increase or decrease in the experience rate that is applied to current and future sales, or an adjustment related to past sales, or both. If the actual amounts paid vary from the Company’s estimates, the Company adjusts these estimates, which would affect net product revenue and earnings in the period such variance becomes known. The Company applies this method consistently for contracts with similar characteristics. The following describes the major sources of variable consideration in the Company’s customer arrangements and the methodology, estimates and judgments applied to estimate each type of variable consideration. Cash Discounts and Allowances Cash discounts are offered for prompt payment and allowances for volume purchases. Provisions for cash discounts are estimated at the time of sale and recorded as direct reductions to trade receivables and revenue. Management estimates the provisions for cash discounts and allowances based on contractual sales terms with customers, an analysis of unpaid invoices and historical payment experience. Estimated cash discounts and allowances have historically been predictable and less subjective, due to the limited number of assumptions involved, the consistency of historical experience and the fact that these amounts are generally settled within one month of incurring the liability. Returns Consistent with industry practice, customers are generally allowed to return product within a specified period of time before and after its expiration date, excluding European businesses which generally do not carry a right of return. The returns provision is estimated utilizing historical sales and return rates over the period during which customers have a right of return, taking into account available information on competitive products and contract changes. The information utilized to estimate the returns provision includes: (i) historical return and exchange levels, (ii) external data with respect to inventory levels in the wholesale distribution channel, (iii) external data with respect to prescription demand for products, (iv) remaining shelf lives of products at the date of sale and (v) estimated returns liability to be processed by year of sale based on an analysis of lot information related to actual historical returns. In determining the estimate for returns, management is required to make certain assumptions regarding the timing of the introduction of new products and the potential of these products to capture market share. In addition, certain assumptions with respect to the extent and pattern of decline associated with generic competition are necessary. These assumptions are formulated using market data for similar products, past experience and other available information. These assumptions are continually reassessed, and changes to the estimates and assumptions are made as new information becomes available. A change of 1% in the estimated return rates would have impacted the Company’s pre-tax earnings by approximately $68 million for the nine months ended September 30, 2018 . The estimate for returns may be impacted by a number of factors, but the principal factor relates to the inventory levels in the distribution channel. When management becomes aware of an increase in such inventory levels, it considers whether the increase may be temporary or other-than-temporary. Temporary increases in wholesaler inventory levels will not differ from original estimates of provision for returns. Other-than-temporary increases in wholesaler inventory levels, however, may be an indication that future product returns could be higher than originally anticipated, and, as a result, estimates for returns may need to be adjusted. Factors that suggest increases in wholesaler inventory levels are temporary include: (i) recently implemented or announced price increases for certain products, (ii) new product launches or expanded indications for existing products and (iii) timing of purchases by wholesale customers. Conversely, factors that suggest increases in wholesaler inventory levels are other-than-temporary include: (i) declining sales trends based on prescription demand, (ii) introduction of new products or generic competition, (iii) increasing price competition from generic competitors and (iv) recent changes to the U.S. National Drug Codes (“NDC”) of products. Changes in the NDC of products could result in a period of higher returns related to products with the old NDC, as U.S. customers generally permit only one NDC per product for identification and tracking within their inventory systems. Rebates and Chargebacks Product sales made under governmental and managed-care pricing programs in the U.S. are subject to rebates. The Company participates in state government-managed Medicaid programs, as well as certain other qualifying federal and state government programs whereby rebates are provided to participating government entities. Medicaid rebates are generally billed 45 days after the quarter, but can be billed up to 270 days after the quarter in which the product is dispensed to the Medicaid participant. As a result, the Medicaid rebate reserve includes an estimate of outstanding claims for end-customer sales that occurred, but for which the related claim has not been billed and/or paid, and an estimate for future claims that will be made when inventory in the distribution channel is sold through to plan participants. The calculation of the Medicaid rebate reserve also requires other estimates, such as estimates of sales mix, to determine which sales are subject to rebates and the amount of such rebates. A change of 1% in the volume of product sold through to Medicaid plan participants would have impacted the Company’s pre-tax earnings by approximately $68 million for the nine months ended September 30, 2018 . Quarterly, the Medicaid rebate reserve is adjusted based on actual claims paid. Due to the delay in billing, adjustments to actual claims paid may incorporate revisions of that reserve for several periods. Managed Care rebates relate to contractual agreements to sell products to managed care organizations and pharmacy benefit managers at contractual rebate percentages in exchange for volume and/or market share. Chargebacks relate to contractual agreements to sell products to government agencies, group purchasing organizations and other indirect customers at contractual prices that are lower than the list prices the Company charges wholesalers. When these group purchasing organizations or other indirect customers purchase products through wholesalers at these reduced prices, the wholesaler charges the Company for the difference between the prices they paid the Company and the prices at which they sold the products to the indirect customers. In estimating provisions for rebates and chargebacks, management considers relevant statutes with respect to governmental pricing programs and contractual sales terms with managed-care providers and group purchasing organizations. Management estimates the amount of product sales subject to these programs based on historical utilization levels. Changes in the level of utilization of products through private or public benefit plans and group purchasing organizations will affect the amount of rebates and chargebacks that the Company is obligated to pay. Management continually updates these factors based on new contractual or statutory requirements, and any significant changes in sales trends that may impact the percentage of products subject to rebates or chargebacks. The amount of Managed Care, Medicaid and other rebates and chargebacks has become more significant as a result of a combination of deeper discounts due to the price increases implemented in each of the last three years, changes in the Company’s product portfolio due to recent acquisitions and increased Medicaid utilization due to expansion of government funding for these programs. Management’s estimate for rebates and chargebacks may be impacted by a number of factors, but the principal factor relates to the level of inventory in the distribution channel. Rebate provisions are based on factors such as timing and terms of plans under contract, time to process rebates, product pricing, sales volumes, amount of inventory in the distribution channel and prescription trends. Adjustments to actual for the nine months ended September 30, 2018 and 2017 were not material to the Company’s revenues or earnings. Patient Co-Pay Assistance programs, Consumer Rebates and Loyalty Programs are rebates offered on many of the Company’s products. Patient Co-Pay Assistance Programs are patient discount programs offered in the form of coupon cards or point of sale discounts, with which patients receive certain discounts off their prescription at participating pharmacies, as defined by the specific product program. An accrual for these programs is established, equal to management’s estimate of the discount, rebate and loyalty incentives attributable to a sale. That estimate is based on historical experience and other relevant factors. The accrual is adjusted throughout each quarter based on actual experience and changes in other factors, if any. Distribution Fees The Company sells product primarily to wholesalers, and in some instances to large pharmacy chains such as CVS and Wal-Mart. The Company has Distribution Services Agreements ("DSAs") with several large wholesale customers such as McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health, Inc. and McKesson Specialty. Under the DSAs, the wholesalers agree to provide services, and the Company pays the contracted DSA distribution service fees for these services based on product volumes. Additionally, price appreciation credits are generated when the Company increases a product’s wholesaler acquisition cost (“WAC”) under 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 are offset against the total distribution service fees paid to each such wholesaler. The variable consideration associated with price appreciation credits is reflected in the transaction price of products sold when it is determined to be probable that a significant reversal will not occur. Net revenue from price appreciation credits for the nine months ended September 30, 2018 was $15 million and is a reduction of distribution fees in the variable consideration provisions table above. Contract Assets and Contract Liabilities There are no contract assets for any period presented. Contract liabilities consist of deferred revenue, the balance of which is not material to any period presented. Sales Commissions The Company expenses sales commissions when incurred because the amortization period would have been less than one year. Sales commissions are included in selling, general and administrative expenses. Financing Component The Company has elected not to adjust consideration for the effects of a significant financing component when the period between the transfer of a promised good or service to the customer and when the customer pays for that good or service will be one year or less. The Company's global payment terms are generally between thirty to ninety days.

DIVESTITURES

DIVESTITURES	9 Months Ended
	Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURES	DIVESTITURES In 2017, the Company divested certain businesses and assets, which, in each case, were not aligned with its core business objectives. 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”), subject to the finalization of certain working capital provisions. 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, net for the nine months ended September 30, 2017 is the Gain on the Skincare Sale of $316 million . The working capital provisions were finalized during 2017 and the Gain on the Skincare Sale was adjusted to $309 million . Dendreon Pharmaceuticals LLC On June 28, 2017, the Company completed the sale of all outstanding equity interests in Dendreon for $845 million in cash (the “Dendreon Sale”), as adjusted. Dendreon was part of the former Branded Rx segment and was reclassified as held for sale as of December 31, 2016. Included in Other income, net is the Gain on the Dendreon Sale of $73 million during the three months ended June 30, 2017. During the three months ended September 30, 2017, a working capital adjustment of $25 million was provided and the Gain on the Dendreon Sale was adjusted to $98 million . 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. 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 continues 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, net is the Gain on the iNova Sale of $306 million , as adjusted. Restricted cash as of September 30, 2017 includes $923 million of proceeds from the iNova Sale, which the Company used to repay a portion of its Series F Tranche B Term Loan Facility on October 5, 2017. Obagi Medical Products, Inc. On November 9, 2017 , certain of the Company's affiliates completed the sale of 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 former 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 during the six months ended June 30, 2017. Upon consummation of this transaction, a loss of $13 million was recognized in Other income, net related to this transaction during the three months ended December 31, 2017. Sprout Pharmaceuticals, Inc. On December 20, 2017 , the Company completed the sale of all outstanding equity interests in 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, was Sprout's only approved and commercialized product. Sprout was part of the former 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 during the three months ended September 30, 2017. Upon consummation of this transaction, a loss of $98 million was recognized in Other income, net during the three months ended December 31, 2017. 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. Assets Held For Sale Included in Other non-current assets at September 30, 2018 and December 31, 2017 are assets held for sale of $0 and $12 million , respectively.

RESTRUCTURING AND INTEGRATION C

RESTRUCTURING AND INTEGRATION COSTS	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND INTEGRATION COSTS	RESTRUCTURING AND INTEGRATION COSTS In connection with acquisitions prior to 2016, 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. The remaining liability associated with these Restructuring and integration costs as of September 30, 2018 was $25 million . During the nine months ended September 30, 2018 , the Company incurred $16 million of Restructuring and integration costs . These costs included: (i) $8 million of severance costs and (ii) $8 million of facility closure costs. The Company made payments of $29 million for the nine months ended September 30, 2018 . During the nine months ended September 30, 2017 , the Company incurred $42 million of Restructuring and integration costs . These costs included: (i) $17 million of integration consulting, transition service, and other costs, (ii) $17 million of facility closure costs and (iii) $8 million of severance costs. The Company made payments of $72 million for the nine months ended September 30, 2017 . 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	9 Months Ended
	Sep. 30, 2018
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 on a recurring basis. September 30, 2018 December 31, 2017 (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 $ 251 $ 227 $ 24 $ — $ 265 $ 230 $ 35 $ — Restricted cash $ — $ — $ — $ — $ 77 $ 77 $ — $ — Liabilities: Acquisition-related contingent consideration $ (336 ) $ — $ — $ (336 ) $ (387 ) $ — $ — $ (387 ) Cash equivalents consist of highly liquid investments, primarily money market funds, with maturities of three months or less when purchased, and are reflected in the Consolidated Balance Sheets at carrying value, which approximates fair value due to their short-term nature. Restricted cash of $77 million as of December 31, 2017 was deposited with a bank as collateral to secure a bank guarantee. 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, Level 2 or Level 3 during the nine months ended September 30, 2018 . 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 the nine months ended September 30,: (in millions) 2018 2017 Balance, beginning of period $ 387 $ 892 Adjustments to Acquisition-related contingent consideration: Accretion for the time value of money $ 18 $ 48 Fair value adjustments to the future royalty payments for Addyi ® — (312 ) Fair value adjustments due to changes in estimates of other future payments (41 ) (33 ) Acquisition-related contingent consideration (23 ) (297 ) Reclassified to liabilities held for sale — (168 ) Payments (28 ) (37 ) Balance, end of period 336 390 Current portion included in Accrued and other current liabilities 54 45 Non-current portion $ 282 $ 345 During the three months ended September 30, 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 ® . Fair Value of Long-term Debt The fair value of long-term debt as of September 30, 2018 and December 31, 2017 was $25,213 million and $25,385 million , respectively, and was estimated using the quoted market prices for the same or similar debt issuances (Level 2) .

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories, net of allowances for obsolescence consist of: (in millions) September 30, December 31, Raw materials $ 284 $ 276 Work in process 103 146 Finished goods 584 626 $ 971 $ 1,048

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Intangible Assets The major components of intangible assets consist of: September 30, 2018 December 31, 2017 (in millions) Gross Carrying Amount Accumulated Amortization and Impairments Net Carrying Amount Gross Carrying Amount Accumulated Amortization and Impairments Net Carrying Amount Finite-lived intangible assets: Product brands $ 20,924 $ (11,488 ) $ 9,436 $ 20,913 $ (9,281 ) $ 11,632 Corporate brands 930 (246 ) 684 933 (179 ) 754 Product rights/patents 3,300 (2,542 ) 758 3,310 (2,346 ) 964 Partner relationships 171 (167 ) 4 179 (169 ) 10 Technology and other 210 (171 ) 39 214 (147 ) 67 Total finite-lived intangible assets 25,535 (14,614 ) 10,921 25,549 (12,122 ) 13,427 Acquired IPR&D not in service 36 — 36 86 — 86 Bausch + Lomb Trademark 1,698 — 1,698 1,698 — 1,698 $ 27,269 $ (14,614 ) $ 12,655 $ 27,333 $ (12,122 ) $ 15,211 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. 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 nine months ended September 30, 2018 include impairments of: (i) $341 million reflecting decreases in forecasted sales for the Uceris ® Tablet product and other product lines due to generic competition, (ii) $60 million , in aggregate, related to certain product/patent assets associated with the discontinuance of specific product lines not aligned with the focus of the Company's core businesses and revisions to forecasted sales, (iii) $28 million to Acquired IPR&D not in service related to a certain product and (iv) $5 million related to assets being classified as held for sale. Asset impairments for the nine months ended September 30, 2017 include impairments of: (i) $352 million related to the Sprout business classified as held for sale, (ii) $115 million to other assets classified as held for sale, (iii) $86 million to certain product/patent assets associated with the discontinuance of specific product lines not aligned with the focus of the Company's core businesses, (iv) $73 million reflecting decreases in forecasted sales for other product lines and (v) $3 million related to Acquired IPR&D not in service. The impairments to assets classified as held for sale were measured as the difference of the carrying value of these assets as compared to the estimated fair value of these assets less costs to sell determined using a discounted cash flow analysis which utilized unobservable inputs (Level 3). The other impairments and adjustments to finite-lived intangible assets were measured as the difference of the carrying value of these finite-lived assets as compared to the fair value as determined using a discounted cash flow analysis using unobservable inputs (Level 3). Periodically, the Company’s products face the expiration of their patent or regulatory exclusivity. The Company anticipates that product sales for such product would decrease shortly following a loss of exclusivity, due to the possible entry of a generic competitor. Where the Company has the rights, it may elect to launch an authorized generic of such product (either as the Company’s own branded generic or through a third-party). This may occur prior to, upon or following generic entry, which may mitigate the anticipated decrease in product sales; however, even with launch of an authorized generic, the decline in product sales of such product could still be significant, and the effect on future revenues could be material. As a result of the launch of a generic competitor in July 2018, the Company revised its near and long-term financial projections of the Uceris ® Tablet related intangible assets. As of June 30, 2018, the carrying value of the Uceris ® Tablet related intangible assets exceeded the undiscounted expected cash flows from the Uceris ® Tablet. As a result, the Company recognized an impairment of $263 million to reduce the carrying value of the Uceris ® Tablet related intangible assets to their estimated fair value. As of September 30, 2018 , the remaining carrying value of the Uceris ® Tablet related intangible assets was $164 million . Prior to its launch, the Company initiated infringement proceedings against this generic competitor. The Company continues to believe that its Uceris ® Tablet related patents are enforceable and is proceeding in the ongoing litigation between the Company and the generic competitor, however the ultimate outcome of the matter is not predictable. Management continually assesses the useful lives related to the Company's long-lived assets to reflect the most current assumptions. Based on management's review, useful lives will be adjusted where appropriate. As a result of the positive impact of the settlement agreement between the Company and Actavis Laboratories FL. Inc. ("Actavis") discussed in further detail in Note 18, "LEGAL PROCEEDINGS”, management adjusted the useful life of the Xifaxan ® related intangible assets to align with its expected future cash flows. Estimated amortization expense of finite-lived intangible assets for the remainder of 2018 and each of the five succeeding years ending December 31 and thereafter is as follows: (in millions) October through December 2018 $ 508 2019 1,922 2020 1,653 2021 1,402 2022 1,222 2023 1,069 Thereafter 3,145 Total $ 10,921 Goodwill The changes in the carrying amounts of goodwill during the nine months ended September 30, 2018 and the year ended December 31, 2017 were as follows: (in millions) Bausch + Lomb/ International Branded Rx U.S. Diversified Products Salix Ortho Dermatologics Diversified Products Total 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 Impairment — (2,213 ) — — — — (2,213 ) Realignment of Global Solta reporting unit goodwill (82 ) 115 (33 ) — — — — Goodwill reclassified to assets held for sale (2 ) — — — — — (2 ) Foreign exchange and other 54 — — — — — 54 Balance, March 31, 2018 5,986 4,533 2,913 — — — 13,432 Realignment of segment goodwill — (4,533 ) (2,913 ) 3,156 1,267 3,023 — Balance after realignment 5,986 — — 3,156 1,267 3,023 13,432 Foreign exchange and other (142 ) — — — — — (142 ) Balance, September 30, 2018 $ 5,844 $ — $ — $ 3,156 $ 1,267 $ 3,023 $ 13,290 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 reporting unit 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. 2017 2017 Realignment of Segment Structure Effective for the first quarter of 2017, 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 former Branded Rx segment to the Bausch + Lomb/International segment. No facts or circumstances were then identified in connection with this change in alignment that would suggest an impairment exists. 2017 Impairment On December 20, 2017 , the Company completed the sale of Sprout to a buyer affiliated with certain former shareholders of Sprout. Sprout was part of the former Branded Rx segment and was reclassified as held for sale as of September 30, 2017. As the Sprout business represented only a portion of a former 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. 2018 Adoption of New Accounting Guidance for Goodwill Impairment Testing 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 is 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 elected to adopt this guidance effective January 1, 2018. Upon adopting the new guidance, the Company tested goodwill for impairment and determined that the carrying value of the Salix reporting unit exceeded its fair value. As a result of the adoption of new accounting guidance, the Company recognized a goodwill impairment of $1,970 million associated with the Salix reporting unit. As of October 1, 2017, the date of the 2017 annual impairment test, the fair value of the Ortho Dermatologics reporting unit exceeded its carrying value. However, at January 1, 2018, the carrying value of the Ortho Dermatologics reporting unit exceeded its fair value. Unforeseen changes in the business dynamics of the Ortho Dermatologics reporting unit, such as: (i) changes in the dermatology sector, (ii) increased pricing pressures from third-party payors, (iii) additional risks to the exclusivity of certain products and (iv) an expected longer launch cycle for a new product, were factors that negatively impacted the reporting unit's operating results beyond management's expectations as of October 1, 2017, when the Company performed its 2017 annual goodwill impairment test. In response to these adverse business indicators, the Company reduced its near and long term financial projections for the Ortho Dermatologics reporting unit. As a result of the reductions in the near and long term financial projections, the carrying value of the Ortho Dermatologics reporting unit exceeded its fair value at January 1, 2018 and the Company recognized a goodwill impairment of $243 million . As of January 1, 2018, the fair value of all other reporting units exceeded their respective carrying value by more than 15% . 2018 Realignment of Solta Business Effective March 1, 2018, revenues and profits from the U.S. Solta business included in the former U.S. Diversified Products segment in prior periods and revenues and profits from the international Solta business included in the Bausch + Lomb/International segment in prior periods, are reported in the new Global Solta reporting unit, which, at that time, was a part of the former Branded Rx segment. As a result of this change, $115 million of goodwill was reallocated to the new Global Solta reporting unit and the Company assessed the impact on the fair values of each of the reporting units affected. After considering, among other matters: (i) the limited period of time between last impairment test (January 1, 2018) and the realignment (March 1, 2018), (ii) the results of the last impairment test and (iii) the amount of goodwill reallocated to the new Global Solta reporting unit, the Company did not identify any indicators of impairment at the time of the realignment. March 31, 2018 Except for the impact of the adoption of the new accounting guidance for goodwill impairment testing noted above, no additional events occurred or circumstances changed during the period January 1, 2018 (the date goodwill was last tested for impairment) through March 31, 2018 that would indicate that the fair value of any reporting unit might be below its carrying value. As a result, management concluded that the fair value of the Salix reporting unit and Ortho Dermatologics reporting unit marginally exceed their respective carrying values as of March 31, 2018. Therefore, during the three months ended March 31, 2018, the Company performed qualitative assessments of the Salix reporting unit and Ortho Dermatologics reporting unit to determine if testing was required. As part of its qualitative assessments, management compared the reporting units' operating results to its original forecasts. The latest forecasts as of March 31, 2018 for the Salix and Ortho Dermatologics reporting units were not materially different than the forecast used in management's January 1, 2018 testing and the difference in the forecasts would not change the conclusion of the Company’s goodwill impairment testing as of January 1, 2018. 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 believed that the carrying value of these reporting units did not exceed their respective fair values and, therefore, concluded quantitative assessments were not required. 2018 Realignment of Segment Structure In the second quarter of 2018, the Company began operating in the following reportable segments: (i) Bausch + Lomb/International segment, (ii) Salix segment, (iii) Ortho Dermatologics segment and (iv) Diversified Products segment. The Bausch + Lomb/International segment consists of the: (i) U.S. Bausch + Lomb and (ii) International reporting units. The Salix segment consists of the Salix reporting unit. The Ortho Dermatologics segment consists of the: (i) Ortho Dermatologics and (ii) Global Solta reporting units. The Diversified Products segment consists of the: (i) Neurology and Other, (ii) Generics and (iii) Dentistry reporting units. There was no triggering event which would require the Company to test goodwill for impairment as a result of the second quarter realignment of the segment structure as it did not result in a change in the reporting units. June 30, 2018 During the three months ended June 30, 2018, the Company made certain revisions to its forecasts for the Salix reporting unit. The revisions reflected, among other matters: (i) the launch of a generic competitor in July 2018 to the Company’s Uceris ® Tablet product, (ii) the improved performance of the remaining Salix product portfolio, including the Xifaxan ® products and (iii) certain other assumptions used in preparing its discounted cash flow model. Using the revised forecasts, management performed a qualitative assessment of the Salix reporting unit to determine if testing was required. As part of this assessment, management compared the reporting unit’s operating results to its original forecasts. Management noted that the forecasts as revised as of June 30, 2018 for the Salix reporting unit did not result in cash flows materially different than those used in management's January 1, 2018 testing and the difference in the forecasts would not change the conclusion of the Company’s goodwill impairment testing as of January 1, 2018. The Company also considered the sensitivity of its conclusions as they relate to changes in the estimates and assumptions. Based on its qualitative assessments, management believes that the carrying value of the Salix reporting unit did not exceed its fair value as of June 30, 2018 and, therefore, concluded a quantitative assessment was not required. During the three months ended June 30, 2018, unforeseen changes in the business dynamics of the Ortho Dermatologics reporting unit, such as changes in the dermatology sector, additional risks to the exclusivity of certain products and a longer than originally expected launch cycle for a certain product, were factors that negatively impacted the reporting unit's operating results beyond management's expectations as of January 1, 2018, when the Company performed its last goodwill impairment test. In response to these adverse business indicators, the Company performed a goodwill impairment test of the Ortho Dermatologics reporting unit. Based on the goodwill impairment test performed, the estimated fair value of the Ortho Dermatologics reporting unit exceeded its carrying value at the date of testing by approximately 5% and, therefore, there was no impairment to goodwill. No other events occurred or circumstances changed during the period January 1, 2018 (the date goodwill was last tested for impairment for all reporting units other than the Ortho Dermatologics reporting unit) through June 30, 2018 that would indicate that the fair value of any reporting unit, other than the Salix and Ortho Dermatologics reporting units, might be below its carrying value. September 30, 2018 Other than the events previously disclosed, no events occurred or circumstances changed during the period January 1, 2018 (the date goodwill was last tested for impairment for all reporting units other than the Ortho Dermatologics reporting unit) through September 30, 2018 that would indicate that the fair value of any reporting unit might be below its carrying value. However, as management concluded that the fair value of the Salix reporting unit and Ortho Dermatologics reporting unit only marginally exceeded their respective carrying values as of June 30, 2018, the Company performed qualitative assessments of the Salix reporting unit and Ortho Dermatologics reporting unit to determine if testing was required. As part of its qualitative assessment of the Ortho Dermatologics reporting unit, management compared the reporting unit’s operating results to its forecast as of June 30, 2018. The latest forecast as of September 30, 2018 for the Ortho Dermatologics reporting unit was not materially different than the forecast used in management's June 30, 2018 testing and the differences in the forecast would not change the conclusion of the Company’s goodwill impairment testing as of June 30, 2018. As part of the qualitative assessment, the Company also considered the sensitivity of its conclusion as it relates to changes in the estimates and assumptions used in the latest forecast available for each period. Based on the qualitative assessment, management believes that the carrying value of Ortho Dermatologics reporting unit did not exceed its fair value and, therefore, concluded a quantitative assessment was not required. As part of its qualitative assessment of the Salix reporting unit, management compared the reporting unit’s operating results to its forecast as of January 1, 2018. During the three months ended September 30, 2018, the Company made certain revisions to its forecast for the Salix reporting unit, the most significant of which was to reflect the positive impact of the settlement agreement between the Company and Actavis resolving the intellectual property litigation regarding Xifaxan ® tablets, 550 mg. As discussed in further detail in Note 18, "LEGAL PROCEEDINGS”, the parties have agreed to dismiss all litigation related to Xifaxan ® tablets, 550 mg, granting a license to Actavis to enter the market effective January 1, 2028 (or earlier under certain circumstances). All intellectual property protecting Xifaxan ® will remain intact and enforceable. Final patent expiry on Xifaxan ® tablets, 550 mg is late 2029. Using the revised forecasts, management performed a qualitative assessment of the Salix reporting unit to determine if testing was required. As part of this assessment, management 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 assessment and the positive resolution of the Xifaxan ® agreement, management believes that the fair value of the Salix reporting unit exceeded its carrying value as of September 30, 2018 and, therefore, concluded a quantitative assessment was not required. The Company does not believe there were any qualitative factors which would indicate it is more likely than not that the carrying value of any reporting unit exceeds its fair value as of September 30, 2018. However, the Company continues to monitor the market conditions of its Dentistry reporting unit including: (i) an increasing competitive environment and (ii) increasing pricing pressures, which could negatively impact the reporting unit's operating results over the long term. The Company is taking steps to address these changing market conditions. 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. In accordance with the Company's accounting policies, the Company will perform its annual goodwill impairment test as of October 1, 2018. Accumulated goodwill impairment charges through September 30, 2018 were $3,602 million .

ACCRUED AND OTHER CURRENT LIABI

ACCRUED AND OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
ACCRUED AND OTHER CURRENT LIABILITIES	ACCRUED AND OTHER CURRENT LIABILITIES Accrued and other current liabilities consist of: (in millions) September 30, December 31, Product rebates $ 1,102 $ 1,094 Product returns 808 863 Interest 432 324 Employee compensation and benefit costs 285 259 Income taxes payable 156 202 Other 641 952 $ 3,424 $ 3,694

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS Principal amounts of debt obligations and principal amounts of debt obligations net of discounts and issuance costs consist of the following: September 30, 2018 December 31, 2017 (in millions) Maturity Principal Amount Net of Discounts and Issuance Costs Principal Amount Net of Discounts and Issuance Costs Senior Secured Credit Facilities: 2018 Revolving Credit Facility April 2018 $ — $ — $ — $ — 2020 Revolving Credit Facility (1) — — 250 250 2023 Revolving Credit Facility June 2023 75 75 — — Series F Tranche B Term Loan Facility April 2022 — — 3,521 3,420 2025 Term Loan B Facility June 2025 4,451 4,320 — — Senior Secured Notes: 6.50% Secured Notes March 2022 1,250 1,238 1,250 1,235 7.00% Secured Notes March 2024 2,000 1,978 2,000 1,975 5.50% Secured Notes November 2025 1,750 1,730 1,750 1,729 Senior Unsecured Notes: 5.375% March 2020 — — 1,708 1,699 7.00% October 2020 — — 71 71 6.375% October 2020 — — 661 656 7.50% July 2021 1,625 1,617 1,625 1,615 6.75% August 2021 — — 650 648 5.625% December 2021 900 896 900 896 7.25% July 2022 — — 550 545 5.50% March 2023 1,000 994 1,000 993 5.875% May 2023 3,250 3,228 3,250 3,224 4.50% euro-denominated debt May 2023 1,740 1,729 1,801 1,787 6.125% April 2025 3,250 3,225 3,250 3,222 9.00% December 2025 1,500 1,468 1,500 1,464 9.25% April 2026 1,500 1,481 — — 8.50% January 2027 750 738 — — Other Various 14 14 15 15 Total long-term debt and other $ 25,055 24,731 $ 25,752 25,444 Less: Current portion of long-term debt and other 298 209 Non-current portion of long-term debt $ 24,433 $ 25,235 1 The 2020 Revolving Credit Facility available at December 31, 2017 had a maturity date of April 2020 and was replaced with the 2023 Revolving Credit Facility on June 1, 2018 as discussed below. On September 26, 2018, the Company issued an irrevocable 30-day notice to redeem $125 million of 7.50% Senior Unsecured Notes due 2021. These notes were redeemed on October 26, 2018 using cash generated from operations and are included in Current portion of long-term debt and other as of September 30, 2018. 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 2023 Revolving Credit Facility also contains a financial maintenance covenant consisting of a first lien leverage ratio. As of September 30, 2018 , the Company was in compliance with its financial maintenance covenant related to its debt obligations. The Company, based on its current forecast for the next twelve months from the date of issuance of these financial statements, expects to remain in compliance with its financial maintenance covenant 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 covenant and may take other actions to reduce its debt levels to align with the Company’s long term strategy, including divesting other businesses, refinancing debt and issuing equity or equity-linked securities 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 “Third Amended Credit Agreement”) with a syndicate of financial institutions and investors, as lenders. As of January 1, 2017, the Third Amended Credit Agreement provided for: (i) a $1,500 million Revolving Credit Facility maturing on April 20, 2018 (the "2018 Revolving Credit Facility"), which included a sublimit for the issuance of standby and commercial letters of credit and a sublimit for swing line loans and (ii) a series of term loans maturing during the years 2016 through 2022. On March 21, 2017, the Company entered into Amendment No. 14 to the Third Amended 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 Facility”), (ii) amended the financial covenants contained in the Third Amended Credit Agreement, (iii) increased the amortization rate for the Series F-3 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 March 2022 Secured Notes (as they are defined below) and the March 2024 Secured Notes (as they are defined below) and cash generated from operations, 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 “March 2017 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 2018 Revolving Credit Facility and (iv) pay related fees and expenses (collectively, the “March 2017 Refinancing Transactions”). Amendment No. 14 was accounted for as a modification of debt to the extent the March 2017 Refinanced Debt was replaced with the incremental Series F-3 Tranche B Term Loan Facility issued to the same creditor and an extinguishment of debt to the extent the March 2017 Refinanced Debt was replaced with Series F-3 Tranche B Term Loan Facility issued to a different creditor. The March 2017 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 Facility were capitalized and were being amortized as interest expense over the remaining term of the Series F-3 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 Third Amended Credit Agreement (“Amendment No. 15”) which provided for the extension of the maturity date of $1,190 million of revolving credit commitments under the 2018 Revolving Credit Facility from April 20, 2018 to the earlier of: (i) April 20, 2020 and (ii) the date that was 91 calendar days prior to the scheduled maturity of any series or tranche of term loans under the Third Amended Credit Agreement, certain Senior Secured Notes or Senior Unsecured Notes and any other indebtedness for borrowed money in excess of $750 million (the "Extended Revolving Maturity Date", and these extended commitments comprising the “2020 Revolving Credit Facility”). 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 were being amortized over the remaining term of the 2020 Revolving Credit Facility. Amendment No. 15 was also 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. On April 19, 2018, the Company entered into Amendment No. 17 to the Third Amended Credit Agreement which provided for the extension of the maturity date of an additional $60 million of revolving credit commitments under the 2018 Revolving Credit Facility from April 20, 2018 to the Extended Revolving Maturity Date under the 2020 Revolving Credit Facility consistent with the terms of Amendment No. 15 outlined above. The remaining $250 million of revolving credit commitments under the 2018 Revolving Credit Facility matured on April 20, 2018. 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 Third Amended 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, were 2.50% with respect to base rate borrowings and 3.50% with respect to LIBO rate borrowings. Amendment No. 16 also increased the letter of credit facility sublimit under the Third Amended Credit Agreement to $300 million and made certain other amendments to provide the Company with additional flexibility to enter into certain cash management transactions. On June 1, 2018, the Company entered into a Restatement Agreement in respect of a Fourth Amended and Restated Credit and Guaranty Agreement (the “Restated Credit Agreement”). The Restated Credit Agreement amended and restated in full the Third Amended Credit Agreement. The Restated Credit Agreement replaced the 2020 Revolving Credit Facility with a revolving credit facility of $1,225 million (the "2023 Revolving Credit Facility") and replaced the Series F Tranche B Term Loan Facility principal amount outstanding of $3,315 million with the seven year Tranche B Term Loan Facility of $4,565 million (the “2025 Term Loan B Facility”) borrowed by the Company’s subsidiary, Valeant Pharmaceuticals International (“VPI”). The 2023 Revolving Credit Facility matures on the earlier of June 1, 2023 and the date that is 91 calendar days prior to the scheduled maturity of indebtedness for borrowed money of the Company or VPI in an aggregate principal amount in excess of $1,000 million. Both the Company and VPI are borrowers with respect to the 2023 Revolving Credit Facility. Borrowings under the 2023 Revolving Credit Facility may be made in U.S. dollars, Canadian dollars or euros. On June 1, 2018, the Company issued an irrevocable notice of redemption for the remaining outstanding principal amounts of: (i) $691 million of 5.375% Senior Unsecured Notes due 2020 (the "March 2020 Unsecured Notes"), (ii) $578 million of 6.75% Senior Unsecured Notes due 2021(the "August 2021 Unsecured Notes"), (iii) $550 million of 7.25% Senior Unsecured Notes due 2022 (the “July 2022 Unsecured Notes”) and (iv) $146 million of 6.375% Senior Unsecured Notes due 2020 (the “ 6.375% October 2020 Unsecured Notes” and together with the March 2020 Unsecured Notes, August 2021 Unsecured Notes and July 2022 Unsecured Notes the “June 2018 Unsecured Refinanced Debt”). On June 1, 2018, using the remaining net proceeds from the 2025 Term Loan B Facility, the net proceeds from the issuance of $750 million in aggregate principal amount of 8.50% Senior Unsecured Notes due 2027 (the "January 2027 Unsecured Notes") by VPI and cash generated from operations, the Company prepaid the remaining Series F Tranche B Term Loan Facility and deposited sufficient funds with The Bank of New York Mellon Trust Company, N.A., as trustee under the indentures governing the June 2018 Unsecured Refinanced Debt, to redeem the June 2018 Unsecured Refinanced Debt at their aggregate redemption price and the indentures governing the June 2018 Unsecured Refinanced Debt were discharged (collectively, the “June 2018 Refinancing Transactions”). The Restated Credit Agreement was accounted for as a modification of debt, to the extent the June 2018 Unsecured Refinanced Debt was replaced with newly issued debt to the same creditor, and as an extinguishment of debt if: (i) the June 2018 Unsecured Refinanced Debt was replaced with newly issued debt to a different creditor, (ii) a portion of the unamortized deferred financing fees was allocated to debt that was paid down or (iii) the borrowing capacity declined when issuing a new revolving credit facility. The following was accounted for as an extinguishment of debt: (i) the difference between the amounts paid to redeem the June 2018 Unsecured Refinanced Debt and the June 2018 Unsecured Refinanced Debt’s carrying value, (ii) the replacement of the Series F Tranche B Term Loan with the 2025 Term Loan B Facility to the extent any unamortized deferred financing fees were associated with the portion of the Series F Tranche B Term Loan that was paid down and (iii) the replacement of the 2020 Revolving Credit Facility with the 2023 Revolving Credit Facility to the extent any unamortized deferred financing fees were associated with the decline in borrowing capacity. For amounts accounted for as an extinguishment of debt, the Company incurred a Loss on extinguishment of debt of $48 million . Payments made to the lenders and a portion of payments made to third parties of $74 million associated with the June 2018 Refinancing Transactions were capitalized and are being amortized as interest expense over the remaining terms of the debt, ranging from 2023 through 2027. Third-party expenses of $4 million associated with the modification of debt were expensed as incurred and included in Interest expense. As of September 30, 2018 , the Company had $75 million of outstanding borrowings, $170 million of issued and outstanding letters of credit, and remaining availability of $980 million under its 2023 Revolving Credit Facility. Current Description of Senior Secured Credit Facilities Borrowings under the Senior Secured Credit Facilities in U.S. dollars bear interest at a rate per annum equal to, at the Company's option, either: (i) a base rate determined by reference to the higher of: (a) the prime rate (as defined in the Restated Credit Agreement), (b) the federal funds effective rate plus 1/2 of 1.00% or (c) the eurocurrency rate (as defined in the Restated Credit Agreement) for a period of one month plus 1.00% (or if such eurocurrency rate shall not be ascertainable, 1.00% ) or (ii) a eurocurrency 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 (provided however, that the eurocurrency rate shall at no time be less than zero), in each case plus an applicable margin. Borrowings under the 2023 Revolving Credit Facility in Euros bear interest at a eurocurrency rate determined by reference to the costs of funds for Euro deposits for the interest period relevant to such borrowing (provided however, that the eurocurrency rate shall at no time be less than 0.00% per annum), plus an applicable margin. Borrowings under the 2023 Revolving Credit Facility in Canadian dollars bear interest at a rate per annum equal to, at the Company's option, either (a) a prime rate determined by reference to the higher of: (1) the rate of interest last quoted by The Wall Street Journal as the “Canadian Prime Rate” or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Bank of Canada as its prime rate and (2) the 1 month BA rate (as defined below) calculated daily plus 1.00% (provided however, that the prime rate shall at no time be less than 0.00% ) or (b) the bankers’ acceptance rate for Canadian dollar deposits in the Toronto interbank market (the “BA rate”) for the interest period relevant to such borrowing (provided however, that the BA rate shall at no time be less than 0.00% per annum), in each case plus an applicable margin. Subject to certain exceptions and customary baskets set forth in the Restated Credit Agreement, the Company is required to make mandatory prepayments of the loans under the Senior Secured Credit Facilities under certain circumstances, including from: (i) 100% of the net cash proceeds of insurance and condemnation proceeds for property or asset losses (subject to reinvestment rights and net proceeds threshold), (ii) 100% of the net cash proceeds from the incurrence of debt (other than permitted debt as described in the Restated Credit Agreement), (iii) 50% of Consolidated Excess Cash Flow (as defined in the Restated Credit Agreement) subject to decrease based on leverage ratios and subject to a threshold amount and (iv) 100% of net cash proceeds from asset sales (subject to reinvestment rights). These mandatory prepayments may be used to satisfy future amortization. The applicable interest rate margins for the 2025 Term Loan B Facility are 2.00% with respect to base rate borrowings and 3.00% with respect to eurocurrency rate borrowings. As of September 30, 2018 , the stated rate of interest on the Company’s borrowings under the 2025 Term Loan B Facility was 5.10% per annum. The amortization rate for the 2025 Term Loan B Facility is 5.00% per annum. The Company may direct that prepayments be applied to such amortization payments in order of maturity. As of September 30, 2018 , the remaining mandatory quarterly amortization payments for the Senior Secured Credit Facilities were $1,427 million through June 1, 2025. The applicable interest rate margins for borrowings under the 2023 Revolving Credit Facility are 1.50% - 2.00% with respect to base rate borrowings and 2.50% - 3.00% with respect to eurocurrency rate borrowings. As of September 30, 2018 , the stated rate of interest on the 2023 Revolving Credit Facility was 5.10% per annum. In addition, the Company is required to pay commitment fees of 0.25% - 0.50% per annum with respect to the unutilized commitments under the 2023 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 eurocurrency rate borrowings under the 2023 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 2023 Revolving Credit Facility includes a financial maintenance covenant that requires the Company to maintain a first lien net leverage ratio of not greater than 4.00 :1.00. The financial maintenance covenant may be waived or amended without the consent of the term loan facility lenders and contains a customary term loan facility standstill. The Restated Credit Agreement permits the incurrence of $1,000 million of incremental credit facility borrowings, subject to customary terms and conditions, as well as the incurrence of additional incremental credit facility borrowings subject to, in the case of secured debt, a secured leverage ratio of not greater than 3.50 :1.00, and, in the case of unsecured debt, a total leverage ratio of not greater than 6.50 :1.00 or an interest coverage ratio of not less than 2.00 :1.00. Senior Secured Notes The Senior Secured Notes are guaranteed by each of the Company’s subsidiaries that is a guarantor under the Restated 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 Restated 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, 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 Facility and cash generated from operations, were used to: (i) repay the March 2017 Refinanced Debt, (ii) repurchase $1,100 million in principal amount of August 2018 Senior Unsecured Notes, (iii) repay $350 million of amounts outstanding under the Company's 2018 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. 5.50% Senior Secured Notes due 2025 - October 2017 Refinancing Transactions and November 2017 Refinancing Transactions On October 17, 2017, the Company issued $1,000 million aggregate principal amount of 5.50% Senior Secured Notes due November 2025 (the “ November 2025 Secured Notes ”) in a private placement, the proceeds of which were used to: (i) repurchase $569 million in principal amount of the 6.375% October 2020 Unsecured Notes and (ii) repurchase $431 million in principal amount of the 7.00% Senior Unsecured Notes due 2020 (the " 7.00% October 2020 Unsecured Notes") (collectively, the “October 2017 Refinancing Transactions”). The related fees and expenses were paid using cash generated from operations. Interest on the November 2025 Secured Notes is payable semi-annually in arrears on each May 1 and November 1. On November 21, 2017, the Company issued $750 million aggregate principal amount of the November 2025 Secured Notes in a private placement. These are additional notes and form part of the same series as the Company’s existing November 2025 Secured Notes . The proceeds were used to prepay $750 million of its Series F Tranche B Term Loan Facility. The related fees and expenses were paid using cash generated from operations (collectively, the “November 2017 Refinancing Transactions”). Senior Unsecured Notes The Senior Unsecured Notes issued by the Company are the Company’s senior unsecured obligations and are jointly and severally guaranteed on a senior unsecured basis by each of its subsidiaries that is a guarantor under the Senior Secured Credit Facilities. The Senior Unsecured Notes issued by VPI are senior unsecured obligations of VPI and are jointly and severally guaranteed on a senior unsecured basis by the Company and each of its subsidiaries (other than VPI) that is a guarantor under the Senior Secured Credit Facilities. Future subsidiaries of the Company and VPI, if any, may be required to guarantee the Senior Unsecured Notes. If the Company experiences a change in control, the Company may be required to make an offer to repurchase each series of Senior Unsecured Notes, in whole or in part, at a purchase price equal to 101% of the aggregate principal amount of the Senior Unsecured Notes repurchased, plus accrued and unpaid interest. 6.75% Senior Unsecured Notes due 2018 In addition to the repurchase of $1,100 million of August 2018 Unsecured Notes as part of the March 2017 Refinancing Transactions, on August 15, 2017, the Company repurchased the remaining $500 million of outstanding August 2018 Unsecured Notes using cash generated from operations, plus accrued and unpaid interest. 9.00% Senior Unsecured Notes due 2025 - December 2017 Refinancing Transactions On December 18, 2017, the Company issued $1,500 million aggregate principal amount of 9.00% Senior Unsecured Notes due 2025 (the “ December 2025 Unsecured Notes ”) in a private placement, the proceeds of which were used to: (i) repurchase $1,021 million in principal amount of the 6.375% October 2020 Unsecured Notes, (ii) repurchase $291 million in principal amount of the March 2020 Unsecured Notes and (iii) repurchase $188 million in principal amount of the 7.00% October 2020 Unsecured Notes (collectively, the “December 2017 Refinancing Transactions”). The related fees and expenses were paid using cash generated from operations. The December 2025 Unsecured Notes accrue interest at the rate of 9.00% per year, payable semi-annually in arrears on each of June 15 and December 15. 9.25% Senior Unsecured Notes due 2026 - March 2018 Refinancing Transactions On March 26, 2018, VPI issued $1,500 million in aggregate principal amount of 9.25% Senior Unsecured Notes due 2026 (the “April 2026 Unsecured Notes”) in a private placement, the proceeds of which were used to repurchase $1,500 million in aggregate principal amount of unsecured notes which consisted of: (i) $1,017 million in principal amount of the March 2020 Unsecured Notes, (ii) $411 million in principal amount of the 6.375% October 2020 Unsecured Notes and (iii) $72 million in principal amount of the August 2021 Unsecured Notes. All fees and expenses associated with these transactions were paid with cash generated from operations (collectively, the “March 2018 Refinancing Transactions”). During May 2018, VPI redeemed an additional $104 million in principal amount of 6.375% October 2020 Unsecured Notes using cash generated from operations. The April 2026 Unsecured Notes accrue interest at the rate of 9.25% per year, payable semi-annually in arrears on each of April 1 and October 1. VPI may redeem all or a portion of the April 2026 Unsecured Notes at any time prior to April 1, 2022, at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of redemption, plus a “make-whole” premium. In addition, at any time prior to April 1, 2021, VPI may redeem up to 40% of the aggregate principal amount of the outstanding April 2026 Unsecured Notes with the net proceeds of certain equity offerings at the redemption price set forth in the April 2026 Unsecured Notes indenture. On or after April 1, 2022, VPI may redeem all or a portion of the April 2026 Unsecured Notes at the applicable redemption prices set forth in the April 2026 Unsecured Notes indenture, plus accrued and unpaid interest to the date of redemption. 8.50% Senior Unsecured Notes due 2027 - June 2018 Refinancing Transactions As part of the June 2018 Refinancing Transactions, VPI issued $750 million in aggregate principal amount of January 2027 Unsecured Notes in a private placement, the proceeds of which, when combined with the remaining net proceeds from the 2025 Term Loan B Facility and cash generated from operations, were deposited with The Bank of New York Mellon Trust Company, N.A., as trustee under the indentures governing the June 2018 Unsecured Refinanced Debt, to redeem the June 2018 Unsecured Refinanced Debt at its aggregate redemption price and the indentures governing the June 2018 Unsecured Refinanced Debt were discharged. The January 2027 Unsecured Notes accrue interest at the rate of 8.50% per year, payable semi-annually in arrears on each of January 31 and July 31. VPI may redeem all or a portion of the January 2027 Unsecured Notes at any time prior to July 31, 2022, at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of redemption, plus a “make-whole” premium. In addition, at any time prior to July 31, 2021, VPI may redeem up to 40% of the aggregate principal amount of the outstanding January 2027 Unsecured Notes with the net proceeds of certain equity offerings at the redemption price set forth in the January 2027 Unsecured Notes indenture. On or after July 31, 2022, VPI may redeem all or a portion of the January 2027 Unsecured Notes at the applicable redemption prices set forth in the January 2027 Unsecured Notes indenture, plus accrued and unpaid interest to the date of redemption. Weighted Average Stated Rate of Interest The weighted average stated rate of interest for the Company's outstanding debt obligations as of September 30, 2018 and December 31, 2017 was 6.32% and 6.07% , respectively. Maturities Maturities and mandatory payments of debt obligations for the period October through December 2018 , the five succeeding years ending December 31 and thereafter are as follows: (in millions) October through December 2018 $ 125 2019 230 2020 228 2021 2,628 2022 1,478 2023 6,293 Thereafter 14,073 Total gross maturities 25,055 Unamortized discounts (324 ) Total long-term debt and other $ 24,731

PENSION AND POSTRETIREMENT EMPL

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS	PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS The Company sponsors defined benefit plans and a participatory defined benefit postretirement medical and life insurance plan, which covers certain U.S. employees and employees in certain other countries. Net periodic (benefit) cost for the Company’s defined benefit pension plans and postretirement benefit plan for the three and nine months ended September 30, 2018 and 2017 consists of: Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans Three Months Ended September 30, (in millions) 2018 2017 2018 2017 2018 2017 Service cost $ — $ 1 $ 1 $ 1 $ — $ — Interest cost 2 2 1 1 1 1 Expected return on plan assets (4 ) (4 ) (1 ) (2 ) — — Amortization of prior service credit — — (1 ) — (1 ) — Amortization of net loss — — 1 — — — Net periodic (benefit) cost $ (2 ) $ (1 ) $ 1 $ — $ — $ 1 Pension Benefit Plans Postretirement U.S. Plan Non-U.S. Plans Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 2018 2017 Service cost $ 1 $ 2 $ 2 $ 2 $ — $ — Interest cost 5 6 4 3 1 2 Expected return on plan assets (11 ) (10 ) (4 ) (4 ) — — Amortization of prior service credit — — (1 ) (1 ) (2 ) (2 ) Amortization of net loss — — 1 1 — — Net periodic (benefit) cost $ (5 ) $ (2 ) $ 2 $ 1 $ (1 ) $ — During the nine months ended September 30, 2018 , the Company contributed $4 million , $6 million and $3 million to the U.S. pension benefit plans, the non-U.S. pension benefit plans and the postretirement benefit plan, respectively. The Company expects to contribute $5 million , $7 million and $6 million in 2018 to the U.S. pension benefit plans, the non-U.S. pension benefit plans and the postretirement benefit plan, respectively, inclusive of amounts contributed during the nine months ended September 30, 2018 .

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION In May 2014, the 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 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, in the aggregate, 20,000,000 common shares of common stock for issuance under the 2014 Plan. Effective April 30, 2018, the Company amended and restated the 2014 Plan (the “Amended and Restated 2014 Plan”). The Amended and Restated 2014 Plan includes the following amendments: (i) the number of common shares authorized for issuance under the Amended and Restated 2014 Plan has been increased by an additional 11,900,000 common shares, as approved by the requisite number of shareholders at the Company’s annual general meeting held on April 30, 2018, (ii) introduction of a $750,000 aggregate fair market value limit on awards (in either equity, cash or other compensation) that can be granted in any calendar year to a participant who is a non-employee director, (iii) housekeeping changes to address recent changes to Section 162(m) of the Internal Revenue Code, (iv) awards are expressly subject to the Company’s clawback policy and (v) awards not assumed or substituted in connection with a Change of Control (as defined in the Amended and Restated 2014 Plan) will only vest on a pro rata basis. Approximately 14,228,000 common shares were available for future grants as of September 30, 2018 . The Company uses reserved and unissued common shares to satisfy its obligations under its share-based compensation plans. During the three months ended March 31, 2017, the Company introduced a new long-term incentive program with the objective to re-align 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 restricted share units (“RSUs”) and performance-based RSUs. Performance-based RSUs are comprised of awards that vest upon achievement of certain share price appreciation conditions that are based on total shareholder return (“TSR”) and awards that vest upon attainment of certain performance targets that are based on the Company’s return on tangible capital (“ROTC”). The following table summarizes the components and classification of share-based compensation expense related to stock options and RSUs for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended (in millions) 2018 2017 2018 2017 Stock options $ 6 $ 4 $ 17 $ 14 RSUs 16 15 48 56 $ 22 $ 19 $ 65 $ 70 Research and development expenses $ 3 $ 2 $ 7 $ 6 Selling, general and administrative expenses 19 17 58 64 $ 22 $ 19 $ 65 $ 70 During the nine months ended September 30, 2018 and 2017 , the Company granted approximately 2,106,000 stock options with a weighted-average exercise price of $15.46 per option and approximately 1,545,000 stock options with a weighted-average exercise price of $14.28 per option, respectively. The weighted-average fair values of all stock options granted to employees during the nine months ended September 30, 2018 and 2017 were $7.82 and $5.97 , respectively. During the nine months ended September 30, 2018 and 2017 , the Company granted approximately 2,844,000 time-based RSUs with a weighted-average grant date fair value of $17.36 per RSU and approximately 3,557,000 time-based RSUs with a weighted-average grant date fair value of $11.78 per RSU, respectively. During the nine months ended September 30, 2018 and 2017 , the Company granted approximately 878,000 and 416,000 performance-based RSUs, consisting of approximately 469,000 and 208,000 units of TSR performance-based RSUs with an average grant date fair value of $29.35 and $16.34 per RSU and approximately 409,000 and 208,000 units of ROTC performance-based RSUs with a weighted-average grant date fair value of $18.80 and $15.76 per RSU, respectively. The granted stock options, time-based RSUs and performance-based RSUs includes long-term incentive awards granted to the Company’s Chief Executive Officer ("CEO") during the three months ended March 31, 2018, which had an aggregate value of $10 million . In connection with his award, approximately 933,000 performance-based RSUs received by the CEO upon his hire in 2016 were cancelled, and the shares underlying those performance-based RSUs were permanently retired and are not available for future grants under the Amended and Restated 2014 Plan. The CEO's long-term incentive award is accounted for as an award modification whereby the Company continues to recognize the unamortized compensation associated with the original award plus the incremental fair value of the new award measured at the date of grant, over the vesting period of the new award. As of September 30, 2018 , the remaining unrecognized compensation expense related to all outstanding non-vested stock options, time-based RSUs and performance-based RSUs amounted to $111 million , which will be amortized over a weighted-average period of 1.89 years.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss consists of: (in millions) September 30, December 31, Foreign currency translation adjustments $ (2,032 ) $ (1,877 ) Pension and postretirement benefit plan adjustments, net of tax (21 ) (19 ) $ (2,053 ) $ (1,896 ) 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	9 Months Ended
	Sep. 30, 2018
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 consist of: Three Months Ended Nine Months Ended (in millions) 2018 2017 2018 2017 Product related research and development $ 98 $ 73 $ 265 $ 245 Quality assurance 9 8 28 26 $ 107 $ 81 $ 293 $ 271

OTHER INCOME, NET

OTHER INCOME, NET	9 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER INCOME, NET Other income, net consists of: Three Months Ended Nine Months Ended (in millions) 2018 2017 2018 2017 Gain on the iNova Sale (Note 4) $ — $ (306 ) $ — $ (306 ) Gain on the Skincare Sale (Note 4) — 3 — (316 ) Gain on the Dendreon Sale (Note 4) — (25 ) — (98 ) Net loss on other sales of assets 26 — 26 25 Litigation and other matters (40 ) 3 (30 ) 112 Other, net (1 ) — — (1 ) $ (15 ) $ (325 ) $ (4 ) $ (584 ) Litigation and other matters includes a favorable adjustment of $40 million during the three months ended September 30, 2018 related to the Salix SEC litigation offset by other amounts provided for certain matters. See Note 18, "LEGAL PROCEEDINGS" for additional information.

(LOSS) EARNINGS PER SHARE

(LOSS) EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
(LOSS) EARNINGS PER SHARE	(LOSS) EARNINGS PER SHARE (Loss) earnings per share attributable to Bausch Health Companies Inc. were calculated as follows: Three Months Ended Nine Months Ended (in millions, except per share amounts) 2018 2017 2018 2017 Net (loss) income attributable to Bausch Health Companies Inc. $ (350 ) $ 1,301 $ (3,804 ) $ 1,891 Basic weighted-average common shares outstanding 351.5 350.4 351.1 350.1 Diluted effect of stock options and RSUs — 1.9 — 1.3 Diluted weighted-average common shares outstanding 351.5 352.3 351.1 351.4 (Loss) earnings per share attributable to Bausch Health Companies Inc.: Basic $ (1.00 ) $ 3.71 $ (10.83 ) $ 5.40 Diluted $ (1.00 ) $ 3.69 $ (10.83 ) $ 5.38 During the three and nine months ended September 30, 2018 , 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: Three Months Ended Nine Months Ended September 30, 2018 (in millions) Basic weighted-average common shares outstanding 351.5 351.1 Diluted effect of stock options and RSUs 4.2 3.4 Diluted weighted-average common shares outstanding 355.7 354.5 During the three and nine months ended September 30, 2018 , time-based RSUs, performance-based RSUs and stock options to purchase approximately 3,750,000 and 3,979,000 common shares, 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. During the three and nine months ended September 30, 2017 , time-based RSUs, performance-based RSUs and stock options to purchase approximately 7,601,000 and 7,601,000 common shares, 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.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For interim financial statement purposes, U.S. GAAP income tax expense/benefit related to ordinary income is determined by applying an estimated annual effective income tax rate against a company's ordinary income, subject to certain limitations on the benefit of losses. Income tax expense/benefit related to items not characterized as ordinary income is recognized as a discrete item when incurred. The estimation of the Company's income tax provision requires the use of management forecasts and other estimates, application of statutory income tax rates, and an evaluation of valuation allowances. The estimate of tax expense in 2018 includes an estimate of the effects of the U.S. Tax Cuts and Jobs Act (the “Tax Act”) including both GILTI and BEAT as defined below. Provision for income taxes for the nine months ended September 30, 2018 was $74 million and included: (i) $203 million of net income tax expense for discrete items, which includes: (a) $255 million of tax charges related to internal restructurings and (b) a $57 million tax benefit related to the impairment of intangible assets and (ii) $129 million of income tax benefit for the Company's ordinary loss during the nine months ended September 30, 2018 . Benefit from income taxes for the nine months ended September 30, 2017 was $2,829 million and included: (i) $334 million of income tax benefit for the Company's ordinary loss for the nine months ended September 30, 2017 , (ii) $2,626 million of tax benefit from internal restructuring efforts, consisting of the reversal of a $1,947 million deferred tax liability for previously recorded outside basis differences and a $679 million increase in deferred tax assets for net operating losses ("NOLs") available after the carryback of a capital loss and utilization against current year income, (iii) a charge of $224 million resulting from the Company’s divestitures during the nine months ended September 30, 2017 and (iv) a $108 million tax benefit related to an intangible impairment during the nine months ended September 30, 2017 . The Company records a valuation allowance against its deferred tax assets to reduce the net carrying value to an amount that it believes is more likely than not to be realized. When the Company establishes or reduces the valuation allowance against its deferred tax assets, the provision for income taxes will increase or decrease, respectively, in the period such determination is made except that, as a result of the 2018 adoption of guidance regarding intra-entity transfers, any change in valuation allowance surrounding the adoption of the intra-entity transfer resulting from this adoption was recorded within equity. The valuation allowance against deferred tax assets was $2,473 million and $2,001 million as of September 30, 2018 and December 31, 2017 , respectively. The increase was due to continued losses in Canada and the Company's internal restructuring efforts recorded discretely. The Company will continue to assess the need for a valuation allowance on a go-forward basis. As of September 30, 2018 and December 31, 2017 , the Company had $639 million and $598 million of unrecognized tax benefits, which included $47 million and $41 million of interest and penalties, respectively. Of the total unrecognized tax benefits as of September 30, 2018 , $263 million would reduce the Company’s effective tax rate, if recognized. The Company anticipates that unrecognized tax benefits resolved within the next 12 months will not be material. 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. In October 2018, the Company has provisionally elected not to use this option and instead used U.S. NOLs to offset this income inclusion. The Tax Act also includes two new U.S. tax base erosion provisions: (i) the base-erosion and anti-abuse tax (“BEAT”) and (ii) the global intangible low-taxed income (“GILTI”). BEAT provides a minimum tax on U.S. tax deductible payments made to related foreign parties after December 31, 2017. GILTI requires an entity to include in its U.S. taxable income the earnings of its foreign subsidiaries in excess of an allowable return on each foreign subsidiary’s depreciable tangible assets. Accounting guidance provides that the impacts of this provision can be included in the consolidated financial statements either by recording the impacts in the period in which GILTI has been incurred or by adjusting deferred tax assets or liabilities in the period of enactment related to basis differences expected to reverse as a result of the GILTI provisions in future years. The Company has provisionally elected to provide for the GILTI tax in the period in which it is incurred and, therefore, the 2017 Benefit for income taxes did not include a provision for GILTI. The 2018 Provision for income taxes includes the estimate of the effects of the Tax Act including GILTI and BEAT. As part of the Tax Act, the Company’s U.S. interest expense is subject to limitation rules which limit U.S. interest expense to 30% of adjusted taxable income, defined similar to EBITDA (through 2021) and then EBIT thereafter. Disallowed interest can be carried forward indefinitely and any unused interest deduction assessed for recoverability. The Company considered such provisions in the 2018 annual estimated effective rate assessment and expects to fully utilize any interest carry forwards in future periods. 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 issuance of these consolidated financial statements. In accordance with accounting guidance, the Company has provisionally provided for the income tax effects of the Tax Act as of December 31, 2017 and will finalize the provisional amounts associated with the Tax Act within one year of its enactment, namely December 22, 2018. The Company’s Benefit from income taxes for the year 2017 included provisional net tax benefits of $975 million attributable to the Tax Act which included: (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 NOLs to offset the provisionally determined $88 million Transition Toll Tax and therefore no amount was recorded as payable. The Company has previously provided for residual U.S. federal income tax on its outside basis differences in certain foreign subsidiaries which, due to the Tax Act, are no longer taxable. As such, the Company's residual U.S. federal tax liability of $299 million prior to the law change was reversed and the Company recognized a deferred income tax benefit of $299 million in the fourth quarter of 2017. The provisional amounts included in the Company's Benefit from income taxes for the year 2017 will be finalized as regulations and other guidance are published. The Company continually updates the provisional amounts based upon recently issued guidance by accounting regulatory bodies, the U.S. Internal Revenue Service and state and local governments, including the proposed regulations regarding the one-time Transition Toll Tax on the pre-2018 earnings of certain non-U.S. subsidiaries released by the U.S. Treasury Department on August 1, 2018. As part of its full assessment, the Company will assess the impact of the Tax Act on the Company’s tax filings for the year 2017. Although its assessment is still in progress, through the date of issuance of these unaudited consolidated financial statements, the Company has not identified any material revisions to the provisional amounts provided in the Company's Benefit from income taxes for the year 2017. Differences between the provisional Benefit from income taxes as provided in 2017 and the benefit or provision for income taxes when those provisional amounts are finalized in 2018 can be expected and those differences could be material. On September 5, 2018, Ireland’s Minister for Finance and Public Expenditure and Reform published Ireland’s Corporation Tax Roadmap incorporating implementation of the European Union Anti-Tax Avoidance Directives. Additionally, a Finance Bill including some of these directives was issued in October 2018. The Company is in the process of evaluating these proposals and the impacts on its results as necessary. The Company continues to be under examination by the Canada Revenue Agency. Subsequent to September 30, 2018, the Company received additional assessments from the Canada Revenue Agency, which the Company is in the process of evaluating. The Company’s position as of September 30, 2018 with regard to proposed audit adjustments has not changed and the proposed adjustments continue to result primarily in a loss of tax attributes that are subject to a full valuation allowance. The Internal Revenue Service completed its examinations of the Company’s U.S. consolidated federal income tax returns for the years 2013 and 2014. There were no material adjustments to the Company's taxable income as a result of these examinations. The Company has filed tax returns which used a capital loss generated in 2017 to offset capital gains generated in 2014. As these tax returns were filed subsequent to the commencement of the examination by the Internal Revenue Service, the Company’s 2014 tax year cannot be closed commensurate with the examination’s conclusion. Additionally, the Internal Revenue Service has selected for examination the Company's annual tax filings for 2015 and 2016 and the Company's short period tax return for the period ended September 8, 2017, which was filed as a result of the Company's internal restructuring efforts during 2017. At this time, the Company does not expect that proposed adjustments, if any, for these periods would be material to the Company's consolidated financial statements. The Company's U.S. affiliates remain under examination for various state tax audits in the U.S. for years 2002 through 2016. The Company’s subsidiaries in Germany are under audit for tax years 2014 through 2016. At this time, the Company does not expect that proposed adjustments, if any, would be material to the Company's consolidated financial statements. The Company’s subsidiaries in Australia are under audit by the Australian Tax 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 and has filed a holding objection against the assessment by the Australian Taxation Office and has secured a bank guarantee to cover any potential cash outlays regarding this assessment. Other non-current assets as of September 30, 2017 includes restricted cash of $77 million deposited with a bank as collateral to secure the bank guarantee for the benefit of the Australian Government. 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. Certain affiliates of the Company in regions outside of Canada, the U.S., Germany and Australia are currently under examination by relevant taxing authorities, and all necessary accruals have been recorded, including uncertain tax benefits. At this time, the Company does not expect that proposed adjustments, if any, would be material to the Company's consolidated financial statements.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	9 Months Ended
	Sep. 30, 2018
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, tax, 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 September 30, 2018 , the Company's consolidated balance sheet includes accrued current loss contingencies of $11 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 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 Rx Services, LLC ("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 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. AMF Investigation 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 (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. In July 2018, the Company was advised by the AMF that it had issued a formal investigation order in respect of the Company on February 2, 2018. The Company cannot predict whether any enforcement action against the Company will result from such 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. In June 2016, the Company and B&L Inc. responded to the State. In July 2018, the State responded to the Company's June 2016 letter and indicated that it disagreed with certain of the Company’s positions and would send a response to the Company's June 2016 letter, which the Company has not yet received. Securities and RICO Class Actions and Related Matters 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. On June 6, 2018, a putative class action was filed in the U.S. District Court for the District of New Jersey against the Company and certain current or former officers and directors. This action, captioned Timber Hill LLC, v. Valeant Pharmaceuticals International, Inc., et al., (Case No. 2:18-cv-10246), asserts securities fraud claims under Sections 10(b) and 20(a) of the Exchange Act on behalf of a putative class of persons who purchased call options or sold put options on the Company’s common stock during the period January 4, 2013 through August 11, 2016. On June 11, 2018, this action was consolidated with In re Valeant Pharmaceuticals International, Inc. Securities Litigation, (Case No. 3:15-cv-07658). On September 20, 2018, lead plaintiff filed an amended complaint, adding claims against ValueAct Capital Management L.P. and affiliated entities. In addition to the consolidated putative class action, twenty-nine 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”); Senzar Healthcare Master Fund LP v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-02286) ("Senzar"); and 2012 Dynasty UC LLC v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-08595) ("2012 Dynasty"); and Catalyst Dynamic Alpha Fund v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-12673) (“Catalyst”); and Northwestern Mutual Life Insurance Co., v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-15286) (“Northwestern Mutual”). In addition, one group of individual investors in the Company’s stock securities chose 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 was captioned: Hound Partners Offshore Fund, LP v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-0076) (“Hound Partners”). Defendants filed a motion to transfer the Hound Partners case to the District of New Jersey on February 2, 2018. On April 24, 2018, the Court granted Defendants' motion and the case was transferred to the District of New Jersey on May 1, 2018 (Case No. 3:18-cv-08705). 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 Company stock, options, and/or debt at various times between January 3, 2013 and August 10, 2016. Plaintiffs in the Lord Abbett, Boeing, Mississippi, NYCERS, Hound Partners, Blackrock, Catalyst, 2012 Dynasty cases and Northwestern Mutual 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. On June 5, 2018, the Court lifted the stay. Defendants filed motions for partial dismissal in the Lord Abbett, Mississippi, and Boeing cases on December 6, 2017. Briefing on those motions was completed on March 15, 2018. On July 31, 2018, the Court dismissed the common law fraud and negligent misrepresentation claims and otherwise denied the motions for partial dismissal. 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 was completed on March 27, 2018. On September 14, 2018, the Court denied the motion for partial dismissal. Defendants filed motions for partial dismissal in the NYCERS and Blackrock cases on February 23, 2018. Briefing on those motions was completed on April 30, 2018. On September 14, 2018, the Court denied the motion for partial dismissal in the Blackrock case. On September 26, 2018, the Court denied the motion for partial dismissal in the NYCERS case. On September 21, 2018 plaintiffs in the Blackrock case amended the complaint to add claims under the New Jersey Racketeer Influenced and Corrupt Organizations Act. Defendants filed a motion for partial dismissal in the Senzar case on May 4, 2018. Briefing on this motion was completed on June 18, 2018. On September 14, 2018, the Court denied the motion for partial dismissal. Defendants filed a motion for partial dismissal in the Hound Partners case on May 22, 2018. Briefing on that motion was completed on July 30, 2018. On September 14, 2018, the Court dismissed all claims brought under the New Jersey Racketeer Influenced and Corrupt Organizations Act, as well as the common law fraud and negligent misrepresentation claims, and otherwise denied the motion for partial dismissal. Defendants filed a motion for partial dismissal in the 2012 Dynasty case on June 15, 2018. Briefing on that motion was completed on July 27, 2018. Defendants filed a motion for partial dismissal in the Catalyst case on October 22, 2018. Briefing on that motion will be completed on December 21, 2018. The Company believes the individual complaints and the consolidated putative class action are without merit and intends to defend itself vigorously. Canadian Securities Litigation 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 Company 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, the Company 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. A timetable for certain pre-trial procedural matters in the action has been set and the notice of certification has been disseminated to class members. Among other things, the timetable established a deadline of June 19, 2018 for class members to exercise their right to opt-out of the class. In addition to the class proceedings described above, on April 12, 2018, the Company was served with an application for leave filed in the Quebec Superior Court of Justice to pursue an action under the Quebec Securities Act against the Company and certain current or former officers and directors. This action is captioned BlackRock Asset Management Canada Limited et al. v. Valeant, et al. (Court File No. 500-11-054155-185). The allegations in the proceeding are similar to those made by plaintiffs in the Catucci class action. On June 18, 2018, the same BlackRock entities filed an originating application against the same defendants asserting claims under the Quebec Civil Code in respect of the same alleged misrepresentations. The Company is aware that certain other members of the Catucci class exercised their opt-out rights prior to the June 19, 2018 deadline. 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, the Company filed a lawsuit against its insurance companies that issued insurance policies covering claims made against the Company, its subsidiaries, and its directors and officers during two distinct policy periods, (i) 2013-14 and (ii) 2015-16. 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, the Company 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. (under the 2013-2014 coverage period), and (2) costs incurred and to be incurred in connection with the securities class actions and opt-out cases described in this section and certain of the investigations described above (under the 2015-2016 coverage period). 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 Company 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. Horizon Blue Cross Blue Shield of New Jersey Lawsuit On July 26, 2018, Horizon Blue Cross Blue Shield of New Jersey filed a lawsuit against the Company in the Superior Court of New Jersey Law Division/Essex County. This action is captioned Horizon Blue Cross Blue Shield of New Jersey v. Valeant Pharmaceuticals International Inc., et. al., (No. ESX-L-005234-18). This suit asserts a claim under the New Jersey Insurance Fraud Prevention Act, N.J.S.A. 17:33A-1 to -30, as well as claims for common law fraud and negligent misrepresentation. In its complaint, Horizon alleges that the Company and other defendants submitted and caused Horizon to pay fraudulent insurance claims. The Company disputes the claims and intends to vigorously defend this matter. Hound Partners Lawsuit On October 19, 2018, Hound Partners Offshore Fund, LP, Hound Partners Long Master, LP, and Hound Partners Concentrated Master, LP, filed a lawsuit against the Company in the Superior Court of New Jersey Law Division/Mercer County. This action is captioned Hound Partners Offshore Fund, LP et al., v. Valeant Pharmaceuticals International, Inc., et al. (No. MER-L-002185-18). This suit asserts claims for common law fraud, negligent misrepresentation, and violations of the New Jersey Racketeer Influenced and Corrupt Organizations Act. The factual allegations made in this complaint are similar to those made in the District of New Jersey Hound Partners action. The Company disputes the claims and intends to vigorously defend this matter. 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. Discovery has been concluded. 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. An evidentiary hearing was held before Judge Schlesinger on August 1 and 2, 2018. On August 20, 2018, the Company filed a motion for summary judgment. Briefing related to the motion for summary judgment is scheduled to be completed on December 17, 2018. The Company intends to vigorously defend all of these actions. Generic Pricing Antitrust Class Action On June 22, 2018, the Company's subsidiaries, Valeant Pharmaceuticals North America LLC (“VPNA”), Valeant Pharmaceuticals International and Oceanside Pharmaceuticals, Inc., were added as defendants in putative class action multidistrict antitrust litigation entitled In re: Generic Pharmaceuticals Pricing Antitrust Litigation , pending in the United States District Court for the Eastern District of Pennsylvania (MDL 2724, 16-MD-2724). The complaint

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Reportable Segments During 2017, the Company divested certain businesses. In 2018, the Company began reallocating capital and resources to other businesses. As a result, during the second quarter of 2018, the Company’s CEO, who is the Company’s Chief Operating Decision Maker, commenced managing the business differently through changes in its operating and reportable segments, which necessitated a realignment of the Company's historical segment structure. This realignment is consistent with how the Company’s CEO currently: (i) assesses operating performance on a regular basis, (ii) makes resource allocation decisions and (iii) designates responsibilities of his direct reports. Pursuant to these changes, in the second quarter of 2018, the Company began operating in the following reportable segments: (i) Bausch + Lomb/International segment, (ii) Salix segment, (iii) Ortho Dermatologics segment and (iv) Diversified Products segment. Prior period presentations of segment revenues and segment profits have been recast to conform to the current segment reporting structure. See Note 2, "SIGNIFICANT ACCOUNTING POLICIES" for additional information regarding changes to the Company's reportable segments. 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) with the exception of sales of Solta products, sales in Canada, Europe, Asia, 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 Salix segment consists of sales in the U.S. of gastrointestinal ("GI") products. • The Ortho Dermatologics segment consists of: (i) sales in the U.S. of Ortho Dermatologics (dermatological) products and (ii) global sales of Solta medical aesthetic devices. • The Diversified Products segment consists of: (i) sales in the U.S. of pharmaceutical products in the areas of neurology and certain other therapeutic classes, (ii) sales in the U.S. of generic products, (iii) sales in the U.S. of dentistry products, (iv) sales in the U.S. of oncology (or Dendreon) products, (v) global sales of women’s health (or Sprout) products and (vi) sales of certain other businesses divested during 2017 that were not core to the Company's operations. As a result of the divestitures of the Company's equity interests in Dendreon (June 28, 2017) and Sprout (December 20, 2017), the Company exited the oncology and women's health businesses, respectively. 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, net, are not included in the measure of segment profit, as management excludes these items in assessing segment financial performance. Corporate includes the finance, treasury, certain research and development programs, tax and legal operations of the Company’s businesses and incurs certain expenses, gains and losses related to the overall management of the Company, which are not allocated to the other business segments. In assessing segment performance and managing operations, management does not review segment assets. Furthermore, a portion of share-based compensation is considered a corporate cost, since the amount of such expense depends on company-wide performance rather than the operating performance of any single segment. Segment Revenues and Profits Segment revenues and profits were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 Revenues: Bausch + Lomb/International $ 1,147 $ 1,234 $ 3,459 $ 3,591 Salix 460 452 1,323 1,141 Ortho Dermatologics 177 177 460 556 Diversified Products 352 356 1,017 1,273 $ 2,136 $ 2,219 $ 6,259 $ 6,561 Segment profits: Bausch + Lomb/International $ 341 $ 381 $ 988 $ 1,078 Salix 304 277 868 677 Ortho Dermatologics 89 73 193 264 Diversified Products 266 251 763 859 1,000 982 2,812 2,878 Corporate (167 ) (126 ) (442 ) (432 ) Amortization of intangible assets (658 ) (657 ) (2,142 ) (1,915 ) Goodwill impairments — (312 ) (2,213 ) (312 ) Asset impairments (89 ) (406 ) (434 ) (629 ) Restructuring and integration costs (3 ) (6 ) (16 ) (42 ) Acquired in-process research and development costs — — (1 ) (5 ) Acquisition-related contingent consideration 19 238 23 297 Other (expense) income, net 15 325 4 584 Operating income (loss) 117 38 (2,409 ) 424 Interest income 3 3 9 9 Interest expense (420 ) (459 ) (1,271 ) (1,392 ) Loss on extinguishment of debt — (1 ) (75 ) (65 ) Foreign exchange and other — 19 18 87 Loss before (provision for) benefit from income taxes $ (300 ) $ (400 ) $ (3,728 ) $ (937 ) Revenues by Segment and Product Category Revenues by segment and product category were as follows: Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 (in millions) Bausch + Lomb/ International Salix Ortho Dermatologics Diversified Products Total Bausch + Lomb/ International Salix Ortho Dermatologics Diversified Products Total Pharmaceuticals $ 222 $ 460 $ 140 $ 233 $ 1,055 $ 241 $ 452 $ 140 $ 272 $ 1,105 Devices 365 — 29 — 394 367 — 25 — 392 OTC 352 — — — 352 397 — — — 397 Branded and Other Generics 192 — — 115 307 213 — — 79 292 Other revenues 16 — 8 4 28 16 — 12 5 33 $ 1,147 $ 460 $ 177 $ 352 $ 2,136 $ 1,234 $ 452 $ 177 $ 356 $ 2,219 Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 (in millions) Bausch + Lomb/ International Salix Ortho Dermatologics Diversified Products Total Bausch + Lomb/ International Salix Ortho Dermatologics Diversified Products Total Pharmaceuticals $ 667 $ 1,323 $ 348 $ 712 $ 3,050 $ 722 $ 1,140 $ 448 $ 1,016 $ 3,326 Devices 1,117 — 90 — 1,207 1,049 — 75 — 1,124 OTC 1,046 — — — 1,046 1,153 — — — 1,153 Branded and Other Generics 576 — — 294 870 613 — — 246 859 Other revenues 53 — 22 11 86 54 1 33 11 99 $ 3,459 $ 1,323 $ 460 $ 1,017 $ 6,259 $ 3,591 $ 1,141 $ 556 $ 1,273 $ 6,561 Geographic Information Revenues are attributed to a geographic region based on the location of the customer were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 U.S. and Puerto Rico $ 1,329 $ 1,306 $ 3,766 $ 3,945 China 91 90 273 240 Canada 78 83 231 238 Japan 59 58 165 166 Poland 49 51 164 147 France 46 41 159 142 Mexico 56 54 153 144 Egypt 45 41 134 116 Germany 38 39 130 119 Russia 38 57 106 148 United Kingdom 29 29 87 79 Italy 19 19 64 58 Spain 17 17 61 55 Other 242 334 766 964 $ 2,136 $ 2,219 $ 6,259 $ 6,561 Major Customers Customers that accounted for 10% or more of total revenues consist of: Nine Months Ended September 30, 2018 2017 AmerisourceBergen Corporation 18% 15% McKesson Corporation (including McKesson Specialty) 18% 20% Cardinal Health, Inc. 13% 13%

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT Acquisition of Noncontrolling Interest in Medpharma On October 16, 2018, using cash on hand, the Company acquired the 40% noncontrolling interest of Medpharma Pharmaceutical & Chemical Industries LLC (“Medpharma”) for $20 million .

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited 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”) for interim financial reporting, which do not conform in all respects to the requirements of U.S. GAAP for annual financial statements. Accordingly, these notes to the unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements prepared in accordance with U.S. GAAP that are contained in the Company’s Annual Report on Form 10-K (as updated by the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and the Canadian Securities Administrators on August 10, 2018) for the year ended December 31, 2017 , filed with the SEC and the Canadian Securities Administrators. The unaudited consolidated financial statements have been prepared using accounting policies that are consistent with the policies used in preparing the Company’s audited consolidated financial statements for the year ended December 31, 2017 , except for the new accounting guidance adopted during the period. The unaudited consolidated financial statements reflect all normal and recurring adjustments necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full year.
Use of Estimates	In preparing the unaudited 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 unaudited consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from these estimates. 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 results of operations and financial position could be materially impacted.
Principles of Consolidation	The unaudited consolidated financial statements include the accounts of the Company and those of its subsidiaries and any variable interest entities 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.
Adoption of New Accounting Standards and Recently Issued Accounting Standards, Not Adopted as of September 30, 2018	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. Entities had the option of using either a full retrospective or a modified retrospective approach to adopt the guidance. The Company completed its detailed assessment and training program for its personnel. Pursuant to the detailed assessment program, the Company reviewed its revenue arrangements and assessed the differences in accounting for such contracts under the new guidance as compared with prior revenue accounting guidance. Based upon review of current customer contracts, the Company concluded the implementation of the new guidance did not have a material quantitative impact on its consolidated financial statements as the timing of revenue recognition for product sales did not significantly change. The Company adopted this guidance effective January 1, 2018 using the modified retrospective approach. Accordingly, the amounts reported in the prior period have not been restated. The new guidance did however result in additional disclosures as to the nature, amounts, and concentrations of revenue. See Note 3, "REVENUE RECOGNITION" and Note 19, "SEGMENT INFORMATION" for additional details and the application of this guidance. In October 2016, the FASB issued guidance requiring an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than when the asset has been sold to an outside party. This guidance was effective for the Company January 1, 2018 and was applied using a modified retrospective approach through a cumulative-effect adjustment to accumulated deficit and deferred income taxes as of the effective date. The Company recorded a net cumulative-effect adjustment of $1,209 million to increase deferred income tax assets and decrease the opening balance of Accumulated deficit for the income tax consequences deferred from past intra-entity transfers involving assets other than inventory. 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 Company prospectively applied the new definition to all transactions effective January 1, 2018. 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 is 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 elected to adopt this guidance effective January 1, 2018. The Company tested goodwill for impairment upon adopting this guidance and recognized impairment charges of $2,213 million , related to its Salix reporting unit and Ortho Dermatologics reporting unit at January 1, 2018. See Note 8, "INTANGIBLE ASSETS AND GOODWILL" for additional details and the application of this guidance. Recently Issued Accounting Standards, Not Adopted as of September 30, 2018 In February 2016, the FASB issued guidance on lease accounting to increase transparency and comparability among organizations that lease buildings, equipment, and other assets by requiring the recognition of lease assets and lease liabilities on the balance sheet. Consistent with the current lease accounting standard, leases will continue to be classified as finance leases or operating leases. The classification is determined based on whether the risks and rewards, as well as substantive control, have been transferred to the Company and its determination will govern the pattern of lease cost recognition. 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 right of use 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. The new guidance is effective for annual reporting periods beginning after December 15, 2018. Early application is permitted. The Company will adopt the standard on January 1, 2019, and is electing to apply the modified retrospective approach to recognize a cumulative-effect adjustment to accumulated deficit at the adoption date. The Company also intends to elect the available practical expedients upon adoption. The Company continues to make progress on its implementation plan for adopting the new standard. The Company is in the process of updating its systems, processes and controls to track, record and account for its lease portfolio. The Company has selected a third-party software to assist in complying with the new standard and is in the process of configuring the software. The Company is also assessing the potential impact that embedded leases within its service arrangements have on its consolidated balance sheet. Although the Company anticipates that the inclusion of lease-related assets and liabilities will have a material impact on the consolidated balance sheets, the Company believes its adoption will not have a material impact on the consolidated statements of operations upon adoption. While the Company is still in the process of finalizing the assessment of the impacts on the consolidated balance sheets, based on the assessment to date, the Company currently believes the most significant impact relates to assets and liabilities arising from facilities, vehicles and equipment operating leases. The Company expects that accounting for capital leases will remain substantially unchanged under the new standard. The Company does not expect the new standard to have a material impact on lessor activities. 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 August 2018, the FASB issued guidance modifying the disclosure requirements for fair value measurement. The guidance is effective for annual periods beginning after December 15, 2019. The Company is permitted to early adopt any removed or modified disclosures upon issuance of this update and delay adoption of the additional disclosures until the effective date. The Company is evaluating the impact of adoption of this guidance on its disclosures. In August 2018, the FASB issued guidance modifying the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The guidance is effective for annual periods ending after December 15, 2020, with early adoption permitted. The Company is evaluating the impact of adoption of this guidance on its disclosures. In August 2018, the FASB issued guidance aligning the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance is effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years with early adoption permitted. The Company is evaluating the impact of adoption of this guidance on its financial position, results of operations and cash flows.
Revenue Recognition	REVENUE RECOGNITION The Company’s revenues are primarily generated from product sales that consist of: (i) branded pharmaceuticals, (ii) generic and branded generic pharmaceuticals, (iii) OTC products and (iv) medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment and aesthetics devices). Other revenues include alliance and service revenue from the licensing and co-promotion of products and contract service revenue primarily in the areas of dermatology and topical medication. Contract service revenue is derived primarily from contract manufacturing for third parties and is not material. See Note 19, "SEGMENT INFORMATION" for the disaggregation of revenue which depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by the economic factors of each category of customer contracts. Product Sales The Company recognizes revenue when the customer obtains control of promised goods or services and in an amount that reflects the consideration to which the Company expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, the Company applies the five-step revenue model to contracts within its scope: (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. A contract with the Company’s customers exists for each product sale. Where a contract with a customer contains more than one performance obligation, the Company allocates the transaction price to each distinct performance obligation based on its relative standalone selling price. The transaction price is adjusted for variable consideration which is discussed further below. The Company generally recognizes revenue for product sales at a point in time, when the customer obtains control of the products. Product Sales Provisions As is customary in the pharmaceutical industry, gross product sales are subject to a variety of deductions in arriving at reported net product sales. The transaction price for product sales is typically adjusted for variable consideration, which may be in the form of cash discounts, allowances, returns, rebates, chargebacks and distribution fees paid to customers. Provisions for variable consideration are established to reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration included in the transaction price may be constrained, and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in the future period. Provisions for these deductions are recorded concurrently with the recognition of gross product sales revenue and include cash discounts and allowances, chargebacks, and distribution fees, which are paid to direct customers, as well as rebates and returns, which can be paid to direct and indirect customers. Returns provision balances and volume discounts to direct customers are included in Accrued and other current liabilities. All other provisions related to direct customers are included in Trade receivables, net, while provision balances related to indirect customers are included in Accrued and other current liabilities.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Summary of variable consideration provisions	The following table presents the activity and ending balances of the Company’s variable consideration provisions for the nine months ended September 30, 2018 . Nine Months Ended September 30, 2018 (in millions) Discounts and Allowances Returns Rebates Chargebacks Distribution Fees Total Reserve balance, January 1, 2018 $ 167 $ 863 $ 1,094 $ 274 $ 148 $ 2,546 Current period provision 643 209 1,976 1,462 178 4,468 Payments and credits (632 ) (264 ) (1,939 ) (1,512 ) (167 ) (4,514 ) Reserve balance, September 30, 2018 $ 178 $ 808 $ 1,131 $ 224 $ 159 $ 2,500

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
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 on a recurring basis. September 30, 2018 December 31, 2017 (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 $ 251 $ 227 $ 24 $ — $ 265 $ 230 $ 35 $ — Restricted cash $ — $ — $ — $ — $ 77 $ 77 $ — $ — Liabilities: Acquisition-related contingent consideration $ (336 ) $ — $ — $ (336 ) $ (387 ) $ — $ — $ (387 )
Schedule of reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3)	The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30,: (in millions) 2018 2017 Balance, beginning of period $ 387 $ 892 Adjustments to Acquisition-related contingent consideration: Accretion for the time value of money $ 18 $ 48 Fair value adjustments to the future royalty payments for Addyi ® — (312 ) Fair value adjustments due to changes in estimates of other future payments (41 ) (33 ) Acquisition-related contingent consideration (23 ) (297 ) Reclassified to liabilities held for sale — (168 ) Payments (28 ) (37 ) Balance, end of period 336 390 Current portion included in Accrued and other current liabilities 54 45 Non-current portion $ 282 $ 345

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of the components of inventories	Inventories, net of allowances for obsolescence consist of: (in millions) September 30, December 31, Raw materials $ 284 $ 276 Work in process 103 146 Finished goods 584 626 $ 971 $ 1,048

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of components of intangible assets	The major components of intangible assets consist of: September 30, 2018 December 31, 2017 (in millions) Gross Carrying Amount Accumulated Amortization and Impairments Net Carrying Amount Gross Carrying Amount Accumulated Amortization and Impairments Net Carrying Amount Finite-lived intangible assets: Product brands $ 20,924 $ (11,488 ) $ 9,436 $ 20,913 $ (9,281 ) $ 11,632 Corporate brands 930 (246 ) 684 933 (179 ) 754 Product rights/patents 3,300 (2,542 ) 758 3,310 (2,346 ) 964 Partner relationships 171 (167 ) 4 179 (169 ) 10 Technology and other 210 (171 ) 39 214 (147 ) 67 Total finite-lived intangible assets 25,535 (14,614 ) 10,921 25,549 (12,122 ) 13,427 Acquired IPR&D not in service 36 — 36 86 — 86 Bausch + Lomb Trademark 1,698 — 1,698 1,698 — 1,698 $ 27,269 $ (14,614 ) $ 12,655 $ 27,333 $ (12,122 ) $ 15,211
Schedule of estimated aggregate amortization expense for each of the five succeeding years	Estimated amortization expense of finite-lived intangible assets for the remainder of 2018 and each of the five succeeding years ending December 31 and thereafter is as follows: (in millions) October through December 2018 $ 508 2019 1,922 2020 1,653 2021 1,402 2022 1,222 2023 1,069 Thereafter 3,145 Total $ 10,921
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amounts of goodwill during the nine months ended September 30, 2018 and the year ended December 31, 2017 were as follows: (in millions) Bausch + Lomb/ International Branded Rx U.S. Diversified Products Salix Ortho Dermatologics Diversified Products Total 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 Impairment — (2,213 ) — — — — (2,213 ) Realignment of Global Solta reporting unit goodwill (82 ) 115 (33 ) — — — — Goodwill reclassified to assets held for sale (2 ) — — — — — (2 ) Foreign exchange and other 54 — — — — — 54 Balance, March 31, 2018 5,986 4,533 2,913 — — — 13,432 Realignment of segment goodwill — (4,533 ) (2,913 ) 3,156 1,267 3,023 — Balance after realignment 5,986 — — 3,156 1,267 3,023 13,432 Foreign exchange and other (142 ) — — — — — (142 ) Balance, September 30, 2018 $ 5,844 $ — $ — $ 3,156 $ 1,267 $ 3,023 $ 13,290

ACCRUED AND OTHER CURRENT LIA_2

ACCRUED AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
Schedule of accrued and other current liabilities	Accrued and other current liabilities consist of: (in millions) September 30, December 31, Product rebates $ 1,102 $ 1,094 Product returns 808 863 Interest 432 324 Employee compensation and benefit costs 285 259 Income taxes payable 156 202 Other 641 952 $ 3,424 $ 3,694

FINANCING ARRANGEMENTS (Tables)

FINANCING ARRANGEMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
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 consist of the following: September 30, 2018 December 31, 2017 (in millions) Maturity Principal Amount Net of Discounts and Issuance Costs Principal Amount Net of Discounts and Issuance Costs Senior Secured Credit Facilities: 2018 Revolving Credit Facility April 2018 $ — $ — $ — $ — 2020 Revolving Credit Facility (1) — — 250 250 2023 Revolving Credit Facility June 2023 75 75 — — Series F Tranche B Term Loan Facility April 2022 — — 3,521 3,420 2025 Term Loan B Facility June 2025 4,451 4,320 — — Senior Secured Notes: 6.50% Secured Notes March 2022 1,250 1,238 1,250 1,235 7.00% Secured Notes March 2024 2,000 1,978 2,000 1,975 5.50% Secured Notes November 2025 1,750 1,730 1,750 1,729 Senior Unsecured Notes: 5.375% March 2020 — — 1,708 1,699 7.00% October 2020 — — 71 71 6.375% October 2020 — — 661 656 7.50% July 2021 1,625 1,617 1,625 1,615 6.75% August 2021 — — 650 648 5.625% December 2021 900 896 900 896 7.25% July 2022 — — 550 545 5.50% March 2023 1,000 994 1,000 993 5.875% May 2023 3,250 3,228 3,250 3,224 4.50% euro-denominated debt May 2023 1,740 1,729 1,801 1,787 6.125% April 2025 3,250 3,225 3,250 3,222 9.00% December 2025 1,500 1,468 1,500 1,464 9.25% April 2026 1,500 1,481 — — 8.50% January 2027 750 738 — — Other Various 14 14 15 15 Total long-term debt and other $ 25,055 24,731 $ 25,752 25,444 Less: Current portion of long-term debt and other 298 209 Non-current portion of long-term debt $ 24,433 $ 25,235 1 The 2020 Revolving Credit Facility available at December 31, 2017 had a maturity date of April 2020 and was replaced with the 2023 Revolving Credit Facility on June 1, 2018 as discussed below.
Schedule of Long-term Debt Maturities	Maturities and mandatory payments of debt obligations for the period October through December 2018 , the five succeeding years ending December 31 and thereafter are as follows: (in millions) October through December 2018 $ 125 2019 230 2020 228 2021 2,628 2022 1,478 2023 6,293 Thereafter 14,073 Total gross maturities 25,055 Unamortized discounts (324 ) Total long-term debt and other $ 24,731

PENSION AND POSTRETIREMENT EM_2

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Net periodic (benefit) cost for the Company’s defined benefit pension plans and postretirement benefit plan for the three and nine months ended September 30, 2018 and 2017 consists of: Pension Benefit Plans Postretirement Benefit Plan U.S. Plan Non-U.S. Plans Three Months Ended September 30, (in millions) 2018 2017 2018 2017 2018 2017 Service cost $ — $ 1 $ 1 $ 1 $ — $ — Interest cost 2 2 1 1 1 1 Expected return on plan assets (4 ) (4 ) (1 ) (2 ) — — Amortization of prior service credit — — (1 ) — (1 ) — Amortization of net loss — — 1 — — — Net periodic (benefit) cost $ (2 ) $ (1 ) $ 1 $ — $ — $ 1 Pension Benefit Plans Postretirement U.S. Plan Non-U.S. Plans Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 2018 2017 Service cost $ 1 $ 2 $ 2 $ 2 $ — $ — Interest cost 5 6 4 3 1 2 Expected return on plan assets (11 ) (10 ) (4 ) (4 ) — — Amortization of prior service credit — — (1 ) (1 ) (2 ) (2 ) Amortization of net loss — — 1 1 — — Net periodic (benefit) cost $ (5 ) $ (2 ) $ 2 $ 1 $ (1 ) $ —

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of the Components and Classification of Share-based Compensation Expense	The following table summarizes the components and classification of share-based compensation expense related to stock options and RSUs for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended (in millions) 2018 2017 2018 2017 Stock options $ 6 $ 4 $ 17 $ 14 RSUs 16 15 48 56 $ 22 $ 19 $ 65 $ 70 Research and development expenses $ 3 $ 2 $ 7 $ 6 Selling, general and administrative expenses 19 17 58 64 $ 22 $ 19 $ 65 $ 70

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of the Components of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consists of: (in millions) September 30, December 31, Foreign currency translation adjustments $ (2,032 ) $ (1,877 ) Pension and postretirement benefit plan adjustments, net of tax (21 ) (19 ) $ (2,053 ) $ (1,896 )

RESEARCH AND DEVELOPMENT (Table

RESEARCH AND DEVELOPMENT (Tables)	9 Months Ended
	Sep. 30, 2018
Research and Development [Abstract]
Summary of Research and Development	Research and development costs consist of: Three Months Ended Nine Months Ended (in millions) 2018 2017 2018 2017 Product related research and development $ 98 $ 73 $ 265 $ 245 Quality assurance 9 8 28 26 $ 107 $ 81 $ 293 $ 271

OTHER INCOME, NET (Tables)

OTHER INCOME, NET (Tables)	9 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Schedule of Other Income, Net	Other income, net consists of: Three Months Ended Nine Months Ended (in millions) 2018 2017 2018 2017 Gain on the iNova Sale (Note 4) $ — $ (306 ) $ — $ (306 ) Gain on the Skincare Sale (Note 4) — 3 — (316 ) Gain on the Dendreon Sale (Note 4) — (25 ) — (98 ) Net loss on other sales of assets 26 — 26 25 Litigation and other matters (40 ) 3 (30 ) 112 Other, net (1 ) — — (1 ) $ (15 ) $ (325 ) $ (4 ) $ (584 )

(LOSS) EARNINGS PER SHARE (Tabl

(LOSS) EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of Calculation of Earnings Per Share	(Loss) earnings per share attributable to Bausch Health Companies Inc. were calculated as follows: Three Months Ended Nine Months Ended (in millions, except per share amounts) 2018 2017 2018 2017 Net (loss) income attributable to Bausch Health Companies Inc. $ (350 ) $ 1,301 $ (3,804 ) $ 1,891 Basic weighted-average common shares outstanding 351.5 350.4 351.1 350.1 Diluted effect of stock options and RSUs — 1.9 — 1.3 Diluted weighted-average common shares outstanding 351.5 352.3 351.1 351.4 (Loss) earnings per share attributable to Bausch Health Companies Inc.: Basic $ (1.00 ) $ 3.71 $ (10.83 ) $ 5.40 Diluted $ (1.00 ) $ 3.69 $ (10.83 ) $ 5.38
Schedule of Antidilutive Securities Dxcluded from Earnings Per Share	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: Three Months Ended Nine Months Ended September 30, 2018 (in millions) Basic weighted-average common shares outstanding 351.5 351.1 Diluted effect of stock options and RSUs 4.2 3.4 Diluted weighted-average common shares outstanding 355.7 354.5

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Revenues and Profit	Segment revenues and profits were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 Revenues: Bausch + Lomb/International $ 1,147 $ 1,234 $ 3,459 $ 3,591 Salix 460 452 1,323 1,141 Ortho Dermatologics 177 177 460 556 Diversified Products 352 356 1,017 1,273 $ 2,136 $ 2,219 $ 6,259 $ 6,561 Segment profits: Bausch + Lomb/International $ 341 $ 381 $ 988 $ 1,078 Salix 304 277 868 677 Ortho Dermatologics 89 73 193 264 Diversified Products 266 251 763 859 1,000 982 2,812 2,878 Corporate (167 ) (126 ) (442 ) (432 ) Amortization of intangible assets (658 ) (657 ) (2,142 ) (1,915 ) Goodwill impairments — (312 ) (2,213 ) (312 ) Asset impairments (89 ) (406 ) (434 ) (629 ) Restructuring and integration costs (3 ) (6 ) (16 ) (42 ) Acquired in-process research and development costs — — (1 ) (5 ) Acquisition-related contingent consideration 19 238 23 297 Other (expense) income, net 15 325 4 584 Operating income (loss) 117 38 (2,409 ) 424 Interest income 3 3 9 9 Interest expense (420 ) (459 ) (1,271 ) (1,392 ) Loss on extinguishment of debt — (1 ) (75 ) (65 ) Foreign exchange and other — 19 18 87 Loss before (provision for) benefit from income taxes $ (300 ) $ (400 ) $ (3,728 ) $ (937 )
Schedule of Revenues by Segment and Product Category	Revenues by segment and product category were as follows: Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 (in millions) Bausch + Lomb/ International Salix Ortho Dermatologics Diversified Products Total Bausch + Lomb/ International Salix Ortho Dermatologics Diversified Products Total Pharmaceuticals $ 222 $ 460 $ 140 $ 233 $ 1,055 $ 241 $ 452 $ 140 $ 272 $ 1,105 Devices 365 — 29 — 394 367 — 25 — 392 OTC 352 — — — 352 397 — — — 397 Branded and Other Generics 192 — — 115 307 213 — — 79 292 Other revenues 16 — 8 4 28 16 — 12 5 33 $ 1,147 $ 460 $ 177 $ 352 $ 2,136 $ 1,234 $ 452 $ 177 $ 356 $ 2,219 Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 (in millions) Bausch + Lomb/ International Salix Ortho Dermatologics Diversified Products Total Bausch + Lomb/ International Salix Ortho Dermatologics Diversified Products Total Pharmaceuticals $ 667 $ 1,323 $ 348 $ 712 $ 3,050 $ 722 $ 1,140 $ 448 $ 1,016 $ 3,326 Devices 1,117 — 90 — 1,207 1,049 — 75 — 1,124 OTC 1,046 — — — 1,046 1,153 — — — 1,153 Branded and Other Generics 576 — — 294 870 613 — — 246 859 Other revenues 53 — 22 11 86 54 1 33 11 99 $ 3,459 $ 1,323 $ 460 $ 1,017 $ 6,259 $ 3,591 $ 1,141 $ 556 $ 1,273 $ 6,561
Schedule of Revenue Attributed to a Geographic Region	Revenues are attributed to a geographic region based on the location of the customer were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 U.S. and Puerto Rico $ 1,329 $ 1,306 $ 3,766 $ 3,945 China 91 90 273 240 Canada 78 83 231 238 Japan 59 58 165 166 Poland 49 51 164 147 France 46 41 159 142 Mexico 56 54 153 144 Egypt 45 41 134 116 Germany 38 39 130 119 Russia 38 57 106 148 United Kingdom 29 29 87 79 Italy 19 19 64 58 Spain 17 17 61 55 Other 242 334 766 964 $ 2,136 $ 2,219 $ 6,259 $ 6,561
Schedule of Customers that Accounted for 10% or More of Total Revenue	Customers that accounted for 10% or more of total revenues consist of: Nine Months Ended September 30, 2018 2017 AmerisourceBergen Corporation 18% 15% McKesson Corporation (including McKesson Specialty) 18% 20% Cardinal Health, Inc. 13% 13%

DESCRIPTION OF BUSINESS - Narra

DESCRIPTION OF BUSINESS - Narrative (Details)	Sep. 30, 2018country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which entity operates (over 90 countries)	90

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to deferred income taxes	$ 1,641			$ 1,641		$ 433
Goodwill impairments	$ 0	$ 2,213	$ 312	$ 2,213	$ 312	312
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to deferred income taxes						$ 1,209

REVENUE RECOGNITION - Variable

REVENUE RECOGNITION - Variable Consideration Provisions (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Reserve beginning balance	$ 2,546
Current period provision	4,468
Payments and credits	(4,514)
Reserve ending balance	2,500
Discounts and Allowances
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Reserve beginning balance	167
Current period provision	643
Payments and credits	(632)
Reserve ending balance	178
Returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Reserve beginning balance	863
Current period provision	209
Payments and credits	(264)
Reserve ending balance	808
Rebates
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Reserve beginning balance	1,094
Current period provision	1,976
Payments and credits	(1,939)
Reserve ending balance	1,131
Chargebacks
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Reserve beginning balance	274
Current period provision	1,462
Payments and credits	(1,512)
Reserve ending balance	224
Distribution Fees
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Reserve beginning balance	148
Current period provision	178
Payments and credits	(167)
Reserve ending balance	$ 159

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cooperative advertising credits included in rebates	$ 2,500		$ 2,500		$ 2,546
Settlement period for cash discounts and allowances			1 month
1% change in estimated return rates, Impact on pre-tax earnings			$ 68
1% change in volume of product sold through to Medicaid plan participants, Impact on pre-tax earnings			68
Revenues	2,136	$ 2,219	$ 6,259	$ 6,561
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment terms			30 days
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment terms			90 days
Price Appreciation Credit
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues			$ 15
Rebates, Advertising Credits Portion
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cooperative advertising credits included in rebates	$ 29		$ 29

DIVESTITURES - Narrative (Detai

DIVESTITURES - Narrative (Details)

Dec. 20, 2017USD ($)

Nov. 09, 2017USD ($)

Sep. 30, 2017USD ($)

Sep. 29, 2017USD ($)

Jun. 28, 2017USD ($)

Mar. 03, 2017USD ($)

Sep. 30, 2018USD ($)country

Dec. 31, 2017USD ($)

Sep. 30, 2017USD ($)

Jun. 30, 2017USD ($)

Sep. 30, 2018USD ($)country

Sep. 30, 2017USD ($)

Dec. 31, 2017USD ($)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of countries in which entity markets (more than 15 countries) | country

90

90

Sprout Pharmaceuticals, Inc.

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Loan term

5 years

Related party loan

$ 25,000,000

Sprout Pharmaceuticals, Inc. | Minimum

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Purchase obligation (no less than)

$ 200,000,000

Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Impairment of long-lived assets

$ 5,000,000

Non-current assets held for sale

$ 0

$ 12,000,000

0

$ 12,000,000

CeraVe, AcneFree, and AMBI Skincare Brands

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sale of business

0

$ (3,000,000)

0

$ 316,000,000

CeraVe, AcneFree, and AMBI Skincare Brands | Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash consideration

$ 1,300,000,000

Gain (loss) on sale of business

316,000,000

$ 309,000,000

Dendreon Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sale of business

0

25,000,000

0

98,000,000

Dendreon Sale | Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash consideration

$ 845,000,000

Gain (loss) on sale of business

98,000,000

$ 73,000,000

Working capital adjustment

25,000,000

iNova

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sale of business

$ 0

306,000,000

0

306,000,000

iNova | Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash consideration

$ 938,000,000

Gain (loss) on sale of business

$ 306,000,000

Number of countries in which entity markets (more than 15 countries) | country

15

15

iNova | Held-for-sale | Restricted Cash

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash consideration

$ 923,000,000

Obagi | Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash consideration

$ 190,000,000

Gain (loss) on sale of business

(13,000,000)

Impairment of finite-lived intangible assets

103,000,000

Sprout Pharmaceuticals, Inc. | Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sale of business

$ (98,000,000)

Impairment of long-lived assets

$ 352,000,000

$ 352,000,000

Sprout Pharmaceuticals, Inc. | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Royalty percentage

6.00%

RESTRUCTURING AND INTEGRATION_2

RESTRUCTURING AND INTEGRATION COSTS - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Acquisition-Related Restructuring Costs
Cost-rationalization and integration initiatives
Remaining restructuring liabilities	$ 25
Other Restructuring, Integration-related and Other Costs
Cost-rationalization and integration initiatives
Incurred restructuring costs	16	$ 42
Severance costs	8	8
Business exit costs	8	17
Restructuring payments	$ 29	72
Restructuring costs integration consulting duplicate labor transition service and other		$ 17

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Jan. 09, 2018	Dec. 31, 2017	Sep. 30, 2017
Liabilities:
Highly liquid investments, maturity period (in months)	3 months
Restricted cash	$ 0	$ 77	$ 77	$ 928
Letters of credit		$ 77
Recurring basis
Assets:
Cash equivalents	251		265
Restricted cash	0		77
Liabilities:
Acquisition-related contingent consideration	(336)		(387)
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash equivalents	227		230
Restricted cash	0		77
Liabilities:
Acquisition-related contingent consideration	0		0
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	24		35
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	$ (336)		$ (387)

FAIR VALUE MEASUREMENTS - Recon

FAIR VALUE MEASUREMENTS - Reconciliation of Contingent Consideration Obligations (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance at the beginning of the period	$ 387	$ 892
Accretion for the time value of money and fair value adjustments	(23)	(297)
Reclassified to liabilities held for sale	0	(168)
Payments	(28)	(37)
Balance at the end of the period	336	390
Current portion included in Accrued and other current liabilities	54	45
Non-current portion	282	345
Accretion for the time value of money
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Accretion for the time value of money and fair value adjustments	18	48
Fair value adjustments to the future royalty payments for Addyi®
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Accretion for the time value of money and fair value adjustments	0	(312)
Fair value adjustments due to changes in estimates of other future payments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Accretion for the time value of money and fair value adjustments	$ (41)	$ (33)

FAIR VALUE MEASUREMENTS - Ass_2

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured on a Non-Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Nonrecurring adjustment | Significant Other Observable Inputs (Level 2)
Assets Measured at Fair Value on a Recurring Basis
Fair value of long-term debt	$ 25,213	$ 25,385

INVENTORIES - Components of Inv

INVENTORIES - Components of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 284	$ 276
Work in process	103	146
Finished goods	584	626
Total Inventories	$ 971	$ 1,048

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Major Components of Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Finite-lived intangible assets:
Gross Carrying Amount	$ 25,535	$ 25,549
Accumulated Amortization and Impairments	(14,614)	(12,122)
Net Carrying Amount	10,921	13,427
Total intangible assets
Gross Carrying Amount	27,269	27,333
Accumulated Amortization and Impairments	(14,614)	(12,122)
Net Carrying Amount	12,655	15,211
Corporate brand
Indefinite-lived intangible assets:
Gross Carrying Amount	1,698	1,698
Accumulated Amortization and Impairments	0	0
Net Carrying Amount	1,698	1,698
Acquired IPR&D not in service
Indefinite-lived intangible assets:
Gross Carrying Amount	36	86
Accumulated Amortization and Impairments	0	0
Net Carrying Amount	36	86
Product brands
Finite-lived intangible assets:
Gross Carrying Amount	20,924	20,913
Accumulated Amortization and Impairments	(11,488)	(9,281)
Net Carrying Amount	9,436	11,632
Corporate brand
Finite-lived intangible assets:
Gross Carrying Amount	930	933
Accumulated Amortization and Impairments	(246)	(179)
Net Carrying Amount	684	754
Product rights
Finite-lived intangible assets:
Gross Carrying Amount	3,300	3,310
Accumulated Amortization and Impairments	(2,542)	(2,346)
Net Carrying Amount	758	964
Partner relationships
Finite-lived intangible assets:
Gross Carrying Amount	171	179
Accumulated Amortization and Impairments	(167)	(169)
Net Carrying Amount	4	10
Technology and other
Finite-lived intangible assets:
Gross Carrying Amount	210	214
Accumulated Amortization and Impairments	(171)	(147)
Net Carrying Amount	$ 39	$ 67

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Mar. 01, 2018	Dec. 31, 2016
Impairments
Impairment of intangible assets					$ 341
Net carrying amount	$ 12,655				12,655		$ 15,211
Goodwill	13,290	$ 13,432			13,290		15,593		$ 15,794
Impairment	0	2,213	$ 312		2,213	$ 312	$ 312
Percentage of fair value in excess of carrying value							15.00%
Accumulated goodwill impairment charges	3,602				3,602
Ortho Dermatologics
Impairments
Percentage of fair value in excess of carrying value				5.00%
Bausch Lomb / International
Impairments
Goodwill	5,844	5,986			5,844		$ 6,016		5,763
Impairment		0					0
Branded Rx
Impairments
Goodwill		0					6,631		7,001
Impairment		2,213					$ 312
Branded Rx | Salix
Impairments
Impairment		1,970
Branded Rx | Ortho Dermatologics
Impairments
Impairment		243
Adjustments
Impairments
Goodwill		0							0
Adjustments | Bausch Lomb / International
Impairments
Goodwill		0							264
Adjustments | Branded Rx
Impairments
Goodwill		(4,533)						$ 115	$ (264)
Adjustments | Bausch Lomb/International And U.S. Diversified Products Segments
Impairments
Goodwill		$ (115)
Specific Product Line
Impairments
Impairment of finite-lived intangible assets						73
Other Product Lines
Impairments
Impairment of finite-lived intangible assets						3
Uceris
Impairments
Impairment of intangible assets				$ 263
Net carrying amount	$ 164				164
Held-for-sale
Impairments
Impairment of long-lived assets					5
Held-for-sale | Sprout Pharmaceuticals, Inc.
Impairments
Impairment of long-lived assets			$ 352			352
Held-for-sale | Certain Businesses from Diversified Products and Bausch Lomb/International Segments
Impairments
Impairment of long-lived assets						115
Acquired IPR&D not in service
Impairments
Impairment of indefinite-lived intangible assets					28
Product/patent assets
Impairments
Impairment of finite-lived intangible assets					$ 60	$ 86

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Amortization Expense (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
October through December 2018	$ 508
2,019	1,922
2,020	1,653
2,021	1,402
2,022	1,222
2,023	1,069
Thereafter	3,145
Net Carrying Amount	$ 10,921	$ 13,427

INTANGIBLE ASSETS AND GOODWIL_5

INTANGIBLE ASSETS AND GOODWILL - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Change in the carrying amount of goodwill
Balance at the beginning of the period		$ 15,593		$ 13,432	$ 15,593	$ 15,794	$ 15,794
Goodwill reclassified to assets held for sale and subsequently disposed		(2)					(175)
Impairment	$ 0	(2,213)	$ (312)		(2,213)	(312)	(312)
Realignment of Global Solta reporting unit goodwill		0
Foreign exchange and other		54		(142)			286
Balance at the end of the period	13,290	13,432		13,290	13,290		15,593
Adjustments
Change in the carrying amount of goodwill
Balance at the beginning of the period				0		0	0
Balance at the end of the period		0
As Initially Reported
Change in the carrying amount of goodwill
Balance at the beginning of the period				13,432		15,794	15,794
Balance at the end of the period		13,432
Bausch Lomb / International
Change in the carrying amount of goodwill
Balance at the beginning of the period		6,016		5,986	6,016	5,763	5,763
Goodwill reclassified to assets held for sale and subsequently disposed		(2)					(30)
Impairment		0					0
Realignment of Global Solta reporting unit goodwill		(82)
Foreign exchange and other		54		(142)			283
Balance at the end of the period	5,844	5,986		5,844	5,844		6,016
Bausch Lomb / International | Adjustments
Change in the carrying amount of goodwill
Balance at the beginning of the period				0		264	264
Balance at the end of the period		0
Bausch Lomb / International | As Initially Reported
Change in the carrying amount of goodwill
Balance at the beginning of the period				5,986		5,499	5,499
Balance at the end of the period		5,986
Branded Rx
Change in the carrying amount of goodwill
Balance at the beginning of the period		6,631		0	6,631	7,001	7,001
Goodwill reclassified to assets held for sale and subsequently disposed		0					(61)
Impairment		(2,213)					(312)
Realignment of Global Solta reporting unit goodwill		115
Foreign exchange and other		0					3
Balance at the end of the period		0					6,631
Branded Rx | Adjustments
Change in the carrying amount of goodwill
Balance at the beginning of the period				(4,533)		(264)	(264)
Balance at the end of the period		(4,533)
Branded Rx | As Initially Reported
Change in the carrying amount of goodwill
Balance at the beginning of the period				4,533		7,265	7,265
Balance at the end of the period		4,533
U.S. Diversified Products
Change in the carrying amount of goodwill
Balance at the beginning of the period		2,946		0	2,946	3,030	3,030
Goodwill reclassified to assets held for sale and subsequently disposed		0					(84)
Impairment		0					0
Realignment of Global Solta reporting unit goodwill		(33)
Foreign exchange and other		0					0
Balance at the end of the period		0					2,946
U.S. Diversified Products | Adjustments
Change in the carrying amount of goodwill
Balance at the beginning of the period				(2,913)		0	0
Balance at the end of the period		(2,913)
U.S. Diversified Products | As Initially Reported
Change in the carrying amount of goodwill
Balance at the beginning of the period				2,913		$ 3,030	$ 3,030
Balance at the end of the period		2,913
Salix
Change in the carrying amount of goodwill
Balance at the beginning of the period				3,156
Foreign exchange and other				0
Balance at the end of the period	3,156	3,156		3,156	3,156
Salix | Adjustments
Change in the carrying amount of goodwill
Balance at the beginning of the period				3,156
Balance at the end of the period		3,156
Ortho Dermatologics
Change in the carrying amount of goodwill
Balance at the beginning of the period				1,267
Foreign exchange and other				0
Balance at the end of the period	1,267	1,267		1,267	1,267
Ortho Dermatologics | Adjustments
Change in the carrying amount of goodwill
Balance at the beginning of the period				1,267
Balance at the end of the period		1,267
Diversified Products
Change in the carrying amount of goodwill
Balance at the beginning of the period				3,023
Foreign exchange and other				0
Balance at the end of the period	$ 3,023	3,023		3,023	$ 3,023
Diversified Products | Adjustments
Change in the carrying amount of goodwill
Balance at the beginning of the period				$ 3,023
Balance at the end of the period		$ 3,023

ACCRUED AND OTHER CURRENT LIA_3

ACCRUED AND OTHER CURRENT LIABILITIES - Summary of Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Product rebates	$ 1,102	$ 1,094
Product returns	808	863
Interest	432	324
Employee compensation and benefit costs	285	259
Income taxes payable	156	202
Other	641	952
Accrued and other current liabilities	$ 3,424	$ 3,694

FINANCING ARRANGEMENTS - Summar

FINANCING ARRANGEMENTS - Summary of Consolidated Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jun. 01, 2018	Dec. 31, 2017	Mar. 21, 2017	Sep. 28, 2010
Long-term debt, net of unamortized debt discount
Principal Amount	$ 25,055		$ 25,752
Total long-term debt and other	24,731		25,444
Less: Current portion of long-term debt and other	298		209
Non-current portion of long-term debt	24,433		25,235
Series F Tranche B Term Loan Facility Due April 2022
Long-term debt, net of unamortized debt discount
Principal Amount	$ 0		3,521
Stated interest rate on debt (as a percent)	5.10%
Total long-term debt and other	$ 0		3,420
2025 Term Loan B Facility Due June 2025
Long-term debt, net of unamortized debt discount
Principal Amount	4,451		0
Total long-term debt and other	4,320		0
6.50% Senior Secured Notes due March in 2022
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)				6.50%
7.00% Senior Secured Notes due in March 2024
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)				7.00%
7.00% Senior Notes due in October 2020
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)					7.00%
Senior Secured Notes | 6.50% Senior Secured Notes due March in 2022
Long-term debt, net of unamortized debt discount
Principal Amount	$ 1,250		1,250
Stated interest rate on debt (as a percent)	6.50%
Total long-term debt and other	$ 1,238		1,235
Senior Secured Notes | 7.00% Senior Secured Notes due in March 2024
Long-term debt, net of unamortized debt discount
Principal Amount	$ 2,000		2,000
Stated interest rate on debt (as a percent)	7.00%
Total long-term debt and other	$ 1,978		1,975
Senior Secured Notes | 5.50% Senior Secured Notes due in November 2025
Long-term debt, net of unamortized debt discount
Principal Amount	$ 1,750		1,750
Stated interest rate on debt (as a percent)	5.50%
Total long-term debt and other	$ 1,730		1,729
Senior Unsecured Notes | 5.375% Senior Notes due March 2020
Long-term debt, net of unamortized debt discount
Principal Amount	$ 0		1,708
Stated interest rate on debt (as a percent)	5.375%	5.375%
Total long-term debt and other	$ 0		1,699
Senior Unsecured Notes | 7.00% Senior Notes due in October 2020
Long-term debt, net of unamortized debt discount
Principal Amount	$ 0		71
Stated interest rate on debt (as a percent)	7.00%
Total long-term debt and other	$ 0		71
Senior Unsecured Notes | 6.375% Senior Notes due in October 2020
Long-term debt, net of unamortized debt discount
Principal Amount	$ 0		661
Stated interest rate on debt (as a percent)	6.375%	6.375%
Total long-term debt and other	$ 0		656
Senior Unsecured Notes | 7.50% Senior Notes due in July 2021
Long-term debt, net of unamortized debt discount
Principal Amount	$ 1,625		1,625
Stated interest rate on debt (as a percent)	7.50%
Total long-term debt and other	$ 1,617		1,615
Senior Unsecured Notes | 6.75% Senior Notes due in August 2021
Long-term debt, net of unamortized debt discount
Principal Amount	$ 0		650
Stated interest rate on debt (as a percent)	6.75%	6.75%
Total long-term debt and other	$ 0		648
Senior Unsecured Notes | 5.625% Senior Notes due in December 2021
Long-term debt, net of unamortized debt discount
Principal Amount	$ 900		900
Stated interest rate on debt (as a percent)	5.625%
Total long-term debt and other	$ 896		896
Senior Unsecured Notes | 7.25% Senior Notes due in July 2022
Long-term debt, net of unamortized debt discount
Principal Amount	$ 0		550
Stated interest rate on debt (as a percent)	7.25%	7.25%
Total long-term debt and other	$ 0		545
Senior Unsecured Notes | 5.50% Senior Notes due March 2023
Long-term debt, net of unamortized debt discount
Principal Amount	$ 1,000		1,000
Stated interest rate on debt (as a percent)	5.50%
Total long-term debt and other	$ 994		993
Senior Unsecured Notes | 5.875% Senior Notes due May 2023
Long-term debt, net of unamortized debt discount
Principal Amount	$ 3,250		3,250
Stated interest rate on debt (as a percent)	5.875%
Total long-term debt and other	$ 3,228		3,224
Senior Unsecured Notes | 4.50% Senior Notes due May 2023
Long-term debt, net of unamortized debt discount
Principal Amount	$ 1,740		1,801
Stated interest rate on debt (as a percent)	4.50%
Total long-term debt and other	$ 1,729		1,787
Senior Unsecured Notes | 6.125% Senior Notes due April 2025
Long-term debt, net of unamortized debt discount
Principal Amount	$ 3,250		3,250
Stated interest rate on debt (as a percent)	6.125%
Total long-term debt and other	$ 3,225		3,222
Senior Unsecured Notes | 9.00% Senior Notes due December 2025
Long-term debt, net of unamortized debt discount
Principal Amount	$ 1,500		1,500
Stated interest rate on debt (as a percent)	9.00%
Total long-term debt and other	$ 1,468		1,464
Senior Unsecured Notes | 9.25% Senior Notes due April 2026
Long-term debt, net of unamortized debt discount
Principal Amount	$ 1,500		0
Stated interest rate on debt (as a percent)	9.25%
Total long-term debt and other	$ 1,481		0
Senior Unsecured Notes | 8.50% Senior Notes Due January 2027
Long-term debt, net of unamortized debt discount
Principal Amount	$ 750		0
Stated interest rate on debt (as a percent)	8.50%	8.50%
Total long-term debt and other	$ 738		0
Senior Unsecured Notes | Other
Long-term debt, net of unamortized debt discount
Principal Amount	14		15
Total long-term debt and other	14		15
Revolving Credit Facility | Revolving Credit Facility Due April 2018
Long-term debt, net of unamortized debt discount
Principal Amount	0		0
Total long-term debt and other	0		0
Revolving Credit Facility | Revolving Credit Facility Due April 2020
Long-term debt, net of unamortized debt discount
Principal Amount	0		250
Total long-term debt and other	0		250
Revolving Credit Facility | Revolving Credit Facility Due June 2023
Long-term debt, net of unamortized debt discount
Principal Amount	$ 75		0
Stated interest rate on debt (as a percent)	5.10%
Total long-term debt and other	$ 75		$ 0

FINANCING ARRANGEMENTS - Summ_2

FINANCING ARRANGEMENTS - Summary of Consolidated Long-term Debt Narrative (Details) - USD ($) $ in Millions	Oct. 26, 2018	Sep. 26, 2018	Sep. 30, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Repayments of long-term debt			$ 8,200	$ 9,249
Senior Unsecured Notes | 7.50% Senior Notes due in July 2021
Debt Instrument [Line Items]
Repayments of long-term debt, notice of redemption period		30 days
Stated interest rate on debt (as a percent)			7.50%
Subsequent Event | Senior Unsecured Notes | 7.50% Senior Notes due in July 2021
Debt Instrument [Line Items]
Repayments of long-term debt	$ 125
Stated interest rate on debt (as a percent)	7.50%

FINANCING ARRANGEMENTS - Senior

FINANCING ARRANGEMENTS - Senior Secured Credit Facilities (Details)	Jun. 01, 2018USD ($)	Apr. 20, 2018USD ($)	Nov. 21, 2017USD ($)	Nov. 10, 2017USD ($)	Oct. 05, 2017USD ($)	Jul. 03, 2017USD ($)	Mar. 28, 2017USD ($)	Mar. 21, 2017USD ($)	Apr. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Apr. 19, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 20, 2017	Jan. 01, 2017USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt										$ 0	$ 1,000,000	$ 75,000,000	$ 65,000,000
Debt issuance costs	$ 74,000,000
Debt modification costs	4,000,000
Repayments of long-term debt												8,200,000,000	9,249,000,000
Net proceeds from the issuance of debt												7,471,000,000	$ 6,231,000,000
Long-term debt										$ 24,731,000,000		$ 24,731,000,000			$ 25,444,000,000
Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 3,060,000,000
Quarterly amortization rate (as a percent)								1.25%								0.25%
Annual amortization rate (as a percent)								5.00%								1.00%
Stated interest rate on debt (as a percent)										5.10%		5.10%
Repayments of Revolving Credit Facility			$ 750,000,000
Loss on extinguishment of debt	48,000,000							$ 27,000,000
Debt issuance costs								38,000,000
Debt modification costs								3,000,000
Repayments of long-term debt	3,315,000,000		$ 750,000,000	$ 181,000,000	$ 923,000,000	$ 811,000,000			$ 220,000,000
Long-term debt										$ 0		$ 0			3,420,000,000
Revolving Credit Facility Due June 2023 | Eurocurrency rate | Minimum
Debt Instrument [Line Items]
Variable rate (as a percentage)												0.00%
Revolving Credit Facility Due June 2023 | Canada Bankers Acceptance Rate
Debt Instrument [Line Items]
Variable rate (as a percentage)												1.00%
Revolving Credit Facility Due June 2023 | Canada Bankers Acceptance Rate | Minimum
Debt Instrument [Line Items]
Variable rate (as a percentage)												0.00%
2025 Term Loan B Facility
Debt Instrument [Line Items]
Annual amortization rate (as a percent)										5.00%		5.00%
Principal amount	$ 4,565,000,000
Debt term	7 years
Long-term debt										$ 4,320,000,000		$ 4,320,000,000			0
2025 Term Loan B Facility | Base Rate
Debt Instrument [Line Items]
Variable rate (as a percentage)												2.00%
2025 Term Loan B Facility | Eurocurrency rate
Debt Instrument [Line Items]
Variable rate (as a percentage)												3.00%
Senior Secured Credit Facilities
Debt Instrument [Line Items]
Debt covenant, mandatory prepayments, percentage net cash proceeds, property and asset losses												100.00%
Debt covenant, mandatory prepayments, percentage net cash proceeds, incurrence of debt												100.00%
Debt covenant, mandatory prepayments, percentage of consolidated excess cash flow												50.00%
Debt covenant, mandatory prepayments, percentage net cash proceeds, asset sales												100.00%
Senior Secured Credit Facilities | Federal Funds
Debt Instrument [Line Items]
Variable rate (as a percentage)												0.50%
Senior Secured Credit Facilities | Eurocurrency rate
Debt Instrument [Line Items]
Variable rate (as a percentage)												1.00%
Senior Secured Credit Facilities | Eurocurrency rate | Minimum
Debt Instrument [Line Items]
Variable rate (as a percentage)												1.00%
Senior Unsecured Notes | 6.75% Senior Unsecured Notes due August 2018
Debt Instrument [Line Items]
Principal amount								$ 1,100,000,000
Stated interest rate on debt (as a percent)								6.75%
Senior Unsecured Notes | 5.375% Senior Notes due March 2020
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)	5.375%									5.375%		5.375%
Repayments of long-term debt	$ 691,000,000
Long-term debt										$ 0		$ 0			1,699,000,000
Senior Unsecured Notes | 6.75% Senior Notes due in August 2021
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)	6.75%									6.75%		6.75%
Repayments of long-term debt	$ 578,000,000
Long-term debt										$ 0		$ 0			648,000,000
Senior Unsecured Notes | 7.25% Senior Notes due in July 2022
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)	7.25%									7.25%		7.25%
Repayments of long-term debt	$ 550,000,000
Long-term debt										$ 0		$ 0			545,000,000
Senior Unsecured Notes | 6.375% Senior Notes due in October 2020
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)	6.375%									6.375%		6.375%
Repayments of long-term debt	$ 146,000,000
Long-term debt										$ 0		$ 0			656,000,000
Senior Unsecured Notes | 8.50% Senior Notes Due January 2027
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)	8.50%									8.50%		8.50%
Net proceeds from the issuance of debt	$ 750,000,000
Long-term debt										$ 738,000,000		$ 738,000,000			0
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 1,190,000,000										$ 1,500,000,000
Repayments of Revolving Credit Facility		$ 250,000,000						$ 350,000,000
Loss on extinguishment of debt							$ 1,000,000
Maturity date extension period							91 days
Other indebtedness for borrowed money threshold							$ 750,000,000
Additional borrowing capacity														$ 60,000,000
Quarterly amortization payments												$ 1,427,000,000
Secured leverage ratio										4		4
Threshold for incremental borrowings										$ 1,000,000,000		$ 1,000,000,000
Interest coverage ratio										2		2
Revolving Credit Facility | Revolving Credit Facility Due April 2020
Debt Instrument [Line Items]
Long-term debt										$ 0		$ 0			250,000,000
Revolving Credit Facility | Revolving Credit Facility Due April 2020 | Base Rate
Debt Instrument [Line Items]
Variable rate (as a percentage)			2.50%
Revolving Credit Facility | Revolving Credit Facility Due April 2020 | LIBOR
Debt Instrument [Line Items]
Variable rate (as a percentage)			3.50%
Revolving Credit Facility | Revolving Credit Facility Due June 2023
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,225,000,000
Stated interest rate on debt (as a percent)										5.10%		5.10%
Alternate debt term, number of days prior to scheduled maturity of principal amount in excess of threshold												91 days
Alternate debt term, principal amount in excess of threshold										$ 1,000,000,000		$ 1,000,000,000
Long-term debt										75,000,000		75,000,000			$ 0
Remaining borrowings										$ 980,000,000		$ 980,000,000
Revolving Credit Facility | Revolving Credit Facility Due June 2023 | Minimum
Debt Instrument [Line Items]
Commitment fee (as a percent)												0.25%
Revolving Credit Facility | Revolving Credit Facility Due June 2023 | Maximum
Debt Instrument [Line Items]
Commitment fee (as a percent)												0.50%
Revolving Credit Facility | Revolving Credit Facility Due June 2023 | Base Rate | Minimum
Debt Instrument [Line Items]
Variable rate (as a percentage)												1.50%
Revolving Credit Facility | Revolving Credit Facility Due June 2023 | Base Rate | Maximum
Debt Instrument [Line Items]
Variable rate (as a percentage)												2.00%
Revolving Credit Facility | Revolving Credit Facility Due June 2023 | Eurocurrency rate | Minimum
Debt Instrument [Line Items]
Variable rate (as a percentage)												2.50%
Revolving Credit Facility | Revolving Credit Facility Due June 2023 | Eurocurrency rate | Maximum
Debt Instrument [Line Items]
Variable rate (as a percentage)												3.00%
Revolving Credit Facility | Senior Secured Notes
Debt Instrument [Line Items]
Secured leverage ratio										3.50		3.50
Revolving Credit Facility | Senior Unsecured Notes
Debt Instrument [Line Items]
Secured leverage ratio										6.50		6.50
Letter of Credit | Revolving Credit Facility Due April 2020
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 300,000,000
Letter of Credit | Revolving Credit Facility Due June 2023
Debt Instrument [Line Items]
Long-term debt										$ 170,000,000		$ 170,000,000

FINANCING ARRANGEMENTS - Seni_2

FINANCING ARRANGEMENTS - Senior Secured Notes (Details) - USD ($)	Apr. 20, 2018	Nov. 21, 2017	Mar. 21, 2017	Dec. 31, 2017	Sep. 30, 2018	May 31, 2018	Mar. 26, 2018	Dec. 18, 2017	Oct. 17, 2017	Sep. 28, 2010
Debt Instrument [Line Items]
Redemption price percentage to change in control (as a percent)				101.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Repayments of Revolving Credit Facility	$ 250,000,000		$ 350,000,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Redemption price percentage to change in control (as a percent)				101.00%
Repurchased principal amount			1,100,000,000				$ 1,500,000,000
March 2022 Senior Secured Notes
Debt Instrument [Line Items]
Principal amount			$ 1,250,000,000
Stated interest rate on debt (as a percent)			6.50%
March 2024 Senior Secured Notes
Debt Instrument [Line Items]
Principal amount			$ 2,000,000,000
Stated interest rate on debt (as a percent)			7.00%
5.50% Senior Secured Notes due in November 2025 | Senior Secured Notes
Debt Instrument [Line Items]
Principal amount		$ 750,000,000							$ 1,000,000,000
Stated interest rate on debt (as a percent)									5.50%
6.375% Senior Notes due in October 2020
Debt Instrument [Line Items]
Repurchased principal amount									$ 569,000,000
6.375% Senior Notes due in October 2020 | Senior Unsecured Notes
Debt Instrument [Line Items]
Repurchased principal amount						$ 104,000,000	$ 411,000,000	$ 1,021,000,000
7.00% Senior Notes due in October 2020
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)										7.00%
Repurchased principal amount									$ 431,000,000
7.00% Senior Notes due in October 2020 | Senior Unsecured Notes
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)										7.00%
Repurchased principal amount								$ 188,000,000
Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)					5.10%
Repayments of Revolving Credit Facility		$ 750,000,000

FINANCING ARRANGEMENTS - Seni_3

FINANCING ARRANGEMENTS - Senior Unsecured Notes (Details) - USD ($) $ in Millions

Jun. 01, 2018

Mar. 26, 2018

Dec. 18, 2017

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Dec. 31, 2017

May 31, 2018

Oct. 17, 2017

Aug. 15, 2017

Mar. 21, 2017

Jul. 12, 2013

Sep. 28, 2010

Debt Instrument [Line Items]

Redemption price percentage to change in control (as a percent)

101.00%

Issuances of long-term debt, net of discount

$ 7,471

$ 6,231

Repayments of long-term debt

8,200

9,249

Loss on extinguishment of debt

$ 0

$ 1

$ 75

$ 65

7.00% Senior Notes due in October 2020

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

7.00%

Repurchased principal amount

$ 431

6.375% Senior Notes due in October 2020

Debt Instrument [Line Items]

Repurchased principal amount

$ 569

Unsecured Debt | 6.75% Senior Unsecured Notes due August 2018

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

6.75%

Unsecured Debt | 9.00% Senior Notes due December 2025

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

9.00%

9.00%

Unsecured Debt | 5.375% Senior Notes due March 2020

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

5.375%

5.375%

5.375%

Repayments of long-term debt

$ 691

Unsecured Debt | 7.00% Senior Notes due in October 2020

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

7.00%

7.00%

Unsecured Debt | 9.25% Senior Notes due April 2026

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

9.25%

9.25%

Unsecured Debt | 6.375% Senior Notes due in October 2020

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

6.375%

6.375%

6.375%

Repayments of long-term debt

$ 146

Unsecured Debt | 6.75% Senior Notes due in August 2021

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

6.75%

6.75%

6.75%

Repayments of long-term debt

$ 578

Unsecured Debt | 8.50% Senior Notes Due January 2027

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

8.50%

8.50%

8.50%

Issuances of long-term debt, net of discount

$ 750

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]

Redemption price percentage to change in control (as a percent)

101.00%

Repurchased principal amount

$ 1,500

$ 1,100

Senior Unsecured Notes | 6.75% Senior Unsecured Notes due August 2018

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

6.75%

Repurchased principal amount

$ 500

Senior Unsecured Notes | 9.00% Senior Notes due December 2025

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

9.00%

Proceeds from debt issuance

$ 1,500

Senior Unsecured Notes | 5.375% Senior Notes due March 2020

Debt Instrument [Line Items]

Repurchased principal amount

$ 1,017

291

Senior Unsecured Notes | 7.00% Senior Notes due in October 2020

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

7.00%

Repurchased principal amount

188

Senior Unsecured Notes | 9.25% Senior Notes due April 2026

Debt Instrument [Line Items]

Stated interest rate on debt (as a percent)

9.25%

Proceeds from debt issuance

$ 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 Unsecured Notes | 6.375% Senior Notes due in October 2020

Debt Instrument [Line Items]

Repurchased principal amount

$ 411

$ 1,021

$ 104

Senior Unsecured Notes | 6.75% Senior Notes due in August 2021

Debt Instrument [Line Items]

Repurchased principal amount

$ 72

FINANCING ARRANGEMENTS - Aggreg

FINANCING ARRANGEMENTS - Aggregate Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
October through December 2018	$ 125
2,019	230
2,020	228
2,021	2,628
2,022	1,478
2,023	6,293
Thereafter	14,073
Total gross maturities	25,055	$ 25,752
Unamortized discounts	(324)
Total long-term debt and other	$ 24,731	$ 25,444

FINANCING ARRANGEMENTS - Maturi

FINANCING ARRANGEMENTS - Maturities and Weighted Average Stated Rate of Interest (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Debt Instrument [Line Items]
Weighted average effective interest rate (as a percent)	6.32%		6.07%
Repayments of long-term debt	$ 8,200	$ 9,249

PENSION AND POSTRETIREMENT EM_3

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Pension Plan | U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 1	$ 1	$ 2
Interest cost	2	2	5	6
Expected return on plan assets	(4)	(4)	(11)	(10)
Amortization of prior service credit	0	0	0	0
Amortization of net loss	0	0	0	0
Net periodic (benefit) cost	(2)	(1)	(5)	(2)
Pension Plan | Non-U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1	2	2
Interest cost	1	1	4	3
Expected return on plan assets	(1)	(2)	(4)	(4)
Amortization of prior service credit	(1)	0	(1)	(1)
Amortization of net loss	1	0	1	1
Net periodic (benefit) cost	1	0	2	1
Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	1	1	1	2
Expected return on plan assets	0	0	0	0
Amortization of prior service credit	(1)	0	(2)	(2)
Amortization of net loss	0	0	0	0
Net periodic (benefit) cost	$ 0	$ 1	$ (1)	$ 0

PENSION AND POSTRETIREMENT EM_4

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Postretirement Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan contributions made	$ 3
Estimated Company contributions in current fiscal year	6
U.S. Plan | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan contributions made	4
Estimated Company contributions in current fiscal year	5
Non-U.S. Plan | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan contributions made	6
Estimated Company contributions in current fiscal year	$ 7

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($)	Apr. 30, 2018	Mar. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	May 31, 2014
Stock option activity
Remaining unrecognized compensation expense related to non-vested awards			$ 111,000,000
Weighted average service period over which compensation cost is expected to be recognized (in years)			1 year 10 months 21 days
Stock options
Stock option activity
Granted (in shares)			2,106,000	1,545,000
Weighted average exercise price (in usd per share)			$ 15.46	$ 14.28
Weighted average grant date fair value of stock options (in usd per share)			$ 7.82	$ 5.97
Time-based RSUs
Stock option activity
Granted (in shares)			2,844,000	3,557,000
Weighted average grant date fair value of stock options (in usd per share)			$ 17.36	$ 11.78
Performance-based RSUs
Stock option activity
Granted (in shares)			878,000	416,000
Performance-based RSUs | Chief Executive Officer
Stock option activity
Value of long term incentives		$ 10,000,000
Number of shares canceled (in shares)		933,000
TSR Performance-based RSUs
Stock option activity
Granted (in shares)			469,000	208,000
Weighted average grant date fair value of stock options (in usd per share)			$ 29.35	$ 16.34
ROTC Performance-based RSUs
Stock option activity
Granted (in shares)			409,000	208,000
Weighted average grant date fair value of stock options (in usd per share)			$ 18.80	$ 15.76
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum shares authorized (in shares)					18,000,000
Common shares available for issuance (in shares)					20,000,000
Number of additional shares available for issuance (in shares)	11,900,000
Number of shares available for future grant (in shares)			14,228,000
2014 Plan | Non-employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair market value on awards granted during any calendar year	$ 750,000

SHARE-BASED COMPENSATION - Summ

SHARE-BASED COMPENSATION - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Components and classification of share-based compensation expense
Share-based compensation expense	$ 22	$ 19	$ 65	$ 70
Stock options
Components and classification of share-based compensation expense
Share-based compensation expense	6	4	17	14
RSUs
Components and classification of share-based compensation expense
Share-based compensation expense	16	15	48	56
Research and development expenses
Components and classification of share-based compensation expense
Share-based compensation expense	3	2	7	6
Selling, general and administrative expenses
Components and classification of share-based compensation expense
Share-based compensation expense	$ 19	$ 17	$ 58	$ 64

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary of Components of AOCI (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income
Total equity	$ 3,237	$ 5,944
Foreign currency translation adjustments
Accumulated Other Comprehensive Income
Total equity	(2,032)	(1,877)
Pension and postretirement benefit plan adjustments, net of tax
Accumulated Other Comprehensive Income
Total equity	(21)	(19)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income
Total equity	$ (2,053)	$ (1,896)

RESEARCH AND DEVELOPMENT - Summ

RESEARCH AND DEVELOPMENT - Summary of Research and Development (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Research and Development [Abstract]
Product related research and development	$ 98	$ 73	$ 265	$ 245
Quality assurance	9	8	28	26
Research and development	$ 107	$ 81	$ 293	$ 271

OTHER INCOME, NET - Summary of

OTHER INCOME, NET - Summary of Other Expense (Income), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule Of Other Income And Expenses [Line Items]
Net loss on other sales of assets	$ 26	$ 0	$ 26	$ 25
Litigation and other matters	(40)	3	(30)	112
Other, net	(1)	0	0	(1)
Other income, net	(15)	(325)	(4)	(584)
iNova Sale
Schedule Of Other Income And Expenses [Line Items]
Gain on sale of business	0	(306)	0	(306)
Skincare Sale
Schedule Of Other Income And Expenses [Line Items]
Gain on sale of business	0	3	0	(316)
Dendreon Sale
Schedule Of Other Income And Expenses [Line Items]
Gain on sale of business	$ 0	$ (25)	$ 0	$ (98)

OTHER INCOME, NET - Narrative (

OTHER INCOME, NET - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule Of Other Income And Expenses [Line Items]
Favorable adjustment, litigation and other matters	$ 40	$ (3)	$ 30	$ (112)
Salix Ltd. SEC Investigation Litigation
Schedule Of Other Income And Expenses [Line Items]
Favorable adjustment, litigation and other matters	$ 40

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Aug. 08, 2017	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Jan. 09, 2018
Schedule Of Income Taxes [Line Items]
Income taxes provision (benefit)		$ 51		$ (1,700)	$ 74	$ (2,829)
Income tax benefit on ordinary income					129	334
Tax expense (benefit) for discrete items					(203)
Income tax charge for internal restructuring transactions					255	2,626
Income tax benefit related to impairment of intangible assets					57	108
Tax benefit related to deferred tax asset on outside basis difference						1,947
Increase in deferred tax assets for NOL's						679
Income tax charge for divestitures						224
Valuation allowance against deferred tax assets		2,473	$ 2,001		2,473		$ 2,001
Unrecognized tax benefits including interest and penalties		639	598		639		598
Unrecognized tax benefits related to interest and penalties		47	41		47		41
Portion of unrecognized tax benefits, if recognized, would reduce the Company's effective tax rate		263			263
Tax Act - provisional net tax expense (benefit)							(975)
Tax Act - re-measurement of certain deferred tax assets and liabilities, income tax expense (benefit)							(774)
Tax Act - one-time transition tax on certain foreign earnings, income tax expense (benefit)							(88)
Tax Act - decrease in deferred tax asset attributable to certain legal accruals, income tax expense (benefit)							$ 10
Tax Act - outside basis differences in certain foreign subsidiaries, income tax expense (benefit)			$ 299
Restricted cash, noncurrent		$ 0		$ 77	$ 0	$ 77		$ 77
Letter of credit								$ 77
Foreign | Australian Tax Office
Schedule Of Income Taxes [Line Items]
Assessment including penalties and interest	$ 117

(LOSS) EARNINGS PER SHARE - Sch

(LOSS) EARNINGS PER SHARE - Schedule of (Loss) Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net (loss) income attributable to Bausch Health Companies Inc.	$ (350)	$ 1,301	$ (3,804)	$ 1,891
Basic weighted-average common shares outstanding (in shares)	351.5	350.4	351.1	350.1
Diluted effect of stock options and RSUs (in shares)	0	1.9	0	1.3
Diluted weighted-average common shares outstanding (in shares)	351.5	352.3	351.1	351.4
(Loss) earnings per share attributable to Bausch Health Companies Inc.:
Basic (in usd per share)	$ (1)	$ 3.71	$ (10.83)	$ 5.40
Diluted (in usd per share)	$ (1)	$ 3.69	$ (10.83)	$ 5.38

(LOSS) EARNINGS PER SHARE - Dil

(LOSS) EARNINGS PER SHARE - Dilutive Effect of Potential Common Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Anti-dilutive shares not included in the computation of diluted earnings per share
Basic weighted-average common shares outstanding (in shares)	351,500	350,400	351,100	350,100
Diluted effect of stock options and RSUs (in shares)	4,200		3,400
Diluted weighted average common shares outstanding (in shares)	355,700		354,500
Stock options
Anti-dilutive shares not included in the computation of diluted earnings per share
Diluted effect of stock options and RSUs (in shares)	3,750	7,601	3,979	7,601

LEGAL PROCEEDINGS - Governmenta

LEGAL PROCEEDINGS - Governmental and Regulatory Inquiries (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2016	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Current accrued loss contingencies		$ 11
Investigation by the State of Texas, State's Medicaid Program
Loss Contingencies [Line Items]
Damages sought	$ 20

LEGAL PROCEEDINGS - Securities

LEGAL PROCEEDINGS - Securities and RICO Class Actions and Related Matters (Details)	Dec. 07, 2017insurance_policy_period	Jun. 16, 2017group	Oct. 30, 2015case	Sep. 16, 2016action	Sep. 30, 2018groupaction	Dec. 31, 2015caseaction
New Jersey | Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Number of suits filed				3
Canada
Loss Contingencies [Line Items]
Number of suits filed | case						6
Canada | Violation of Canadian Provincial Securities Legislation
Loss Contingencies [Line Items]
Number of suits filed						5
Number of suits filed but not yet served					2
US Securities Litigation | New Jersey
Loss Contingencies [Line Items]
Number of groups of investors filing action | group		10			29
US Securities Litigation | New Jersey | Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Number of suits filed | case			4
Insurance Coverage Lawsuit
Loss Contingencies [Line Items]
Number of distinct insurance policy periods | insurance_policy_period	2

LEGAL PROCEEDINGS - Antitrust (

LEGAL PROCEEDINGS - Antitrust (Details)	Mar. 31, 2015manufacturer
Contact Lens Antitrust Class Actions
Loss Contingencies [Line Items]
Number of manufacturers	3

LEGAL PROCEEDINGS - Product Lia

LEGAL PROCEEDINGS - Product Liability (Details) - case	Mar. 24, 2017	Sep. 30, 2018	Dec. 31, 2015	Dec. 30, 2016
Canada
Loss Contingencies [Line Items]
Number of suits filed			6
Shower to Shower Product Liability Litigation
Loss Contingencies [Line Items]
Number of lawsuits (163 lawsuits involving Shower to Shower body powder product)		163
Shower to Shower Product Liability Litigation | Canada
Loss Contingencies [Line Items]
Number of lawsuits (163 lawsuits involving Shower to Shower body powder product)		2
Shower to Shower Product Liability Litigation | BRITISH COLUMBIA
Loss Contingencies [Line Items]
Number of lawsuits (163 lawsuits involving Shower to Shower body powder product)		1
Shower to Shower Product Liability Litigation | QUEBEC
Loss Contingencies [Line Items]
Number of lawsuits (163 lawsuits involving Shower to Shower body powder product)		1
Johnson & Johnson Talcum Powder Litigation
Loss Contingencies [Line Items]
Number of lawsuits (163 lawsuits involving Shower to Shower body powder product)	1	5		1
Number of suits filed	2
Number of cases voluntarily dismissed		4

LEGAL PROCEEDINGS - General Civ

LEGAL PROCEEDINGS - General Civil Actions (Details) $ in Millions	1 Months Ended
	Apr. 30, 2018USD ($)
Doctors Allergy Formula, LLC Litigation
Loss Contingencies [Line Items]
Damages sought	$ 23

LEGAL PROCEEDINGS - Completed o

LEGAL PROCEEDINGS - Completed or Inactive Matters (Details) $ in Millions	Apr. 14, 2017claim	Jul. 21, 2016USD ($)	Apr. 06, 2015action	Feb. 28, 2018USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Jul. 31, 2013manufacturer
Loss Contingencies [Line Items]
Favorable adjustment, litigation and other matters					$ 40	$ (3)	$ 30	$ (112)
Salix
Loss Contingencies [Line Items]
Number of suits filed | action			2
Arbitration with Alfa Wasserman
Loss Contingencies [Line Items]
Development costs		$ 80
Damages sought		$ 285
Salix Ltd. SEC Investigation Litigation
Loss Contingencies [Line Items]
Favorable adjustment, litigation and other matters					$ 40
Solodyn Antitrust Class Actions
Loss Contingencies [Line Items]
Number of settled claims | claim	2
Number of manufacturers | manufacturer									3
Damages awarded to plaintiff				$ 58

SEGMENT INFORMATION - Segment R

SEGMENT INFORMATION - Segment Revenues and Profit (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Segment reporting information
Revenues	$ 2,136		$ 2,219	$ 6,259	$ 6,561
Amortization of intangible assets	(658)		(657)	(2,142)	(1,915)
Goodwill impairments	0	$ (2,213)	(312)	(2,213)	(312)	$ (312)
Asset impairments	(89)		(406)	(434)	(629)
Restructuring and integration costs	(3)		(6)	(16)	(42)
Acquired in-process research and development costs	0		0	(1)	(5)
Acquisition-related contingent consideration	19		238	23	297
Other (expense) income, net	15		325	4	584
Operating income (loss)	117		38	(2,409)	424
Interest income	3		3	9	9
Interest expense	(420)		(459)	(1,271)	(1,392)
Loss on extinguishment of debt	0		(1)	(75)	(65)
Foreign exchange and other	0		19	18	87
Loss before (provision for) benefit from income taxes	(300)		(400)	(3,728)	(937)
Bausch Lomb / International
Segment reporting information
Revenues	1,147		1,234	3,459	3,591
Goodwill impairments		$ 0				$ 0
Salix
Segment reporting information
Revenues	460		452	1,323	1,141
Ortho Dermatologics
Segment reporting information
Revenues	177		177	460	556
Diversified Products
Segment reporting information
Revenues	352		356	1,017	1,273
Operating Segment
Segment reporting information
Revenues	2,136		2,219	6,259	6,561
Operating income (loss)	1,000		982	2,812	2,878
Operating Segment | Bausch Lomb / International
Segment reporting information
Revenues	1,147		1,234	3,459	3,591
Operating income (loss)	341		381	988	1,078
Operating Segment | Salix
Segment reporting information
Revenues	460		452	1,323	1,141
Operating income (loss)	304		277	868	677
Operating Segment | Ortho Dermatologics
Segment reporting information
Revenues	177		177	460	556
Operating income (loss)	89		73	193	264
Operating Segment | Diversified Products
Segment reporting information
Revenues	352		356	1,017	1,273
Operating income (loss)	266		251	763	859
Corporate
Segment reporting information
Operating income (loss)	(167)		(126)	(442)	(432)
Segment Reconciling Items
Segment reporting information
Amortization of intangible assets	(658)		(657)	(2,142)	(1,915)
Goodwill impairments	0		(312)	(2,213)	(312)
Asset impairments	(89)		(406)	(434)	(629)
Restructuring and integration costs	(3)		(6)	(16)	(42)
Acquired in-process research and development costs	0		0	(1)	(5)
Acquisition-related contingent consideration	19		238	23	297
Other (expense) income, net	$ 15		$ 325	$ 4	$ 584

SEGMENT INFORMATION - Disaggreg

SEGMENT INFORMATION - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 2,136	$ 2,219	$ 6,259	$ 6,561
Pharmaceuticals
Disaggregation of Revenue [Line Items]
Revenues	1,055	1,105	3,050	3,326
Devices
Disaggregation of Revenue [Line Items]
Revenues	394	392	1,207	1,124
OTC
Disaggregation of Revenue [Line Items]
Revenues	352	397	1,046	1,153
Branded and Other Generics
Disaggregation of Revenue [Line Items]
Revenues	307	292	870	859
Other revenues
Disaggregation of Revenue [Line Items]
Revenues	28	33	86	99
Bausch Lomb/ International
Disaggregation of Revenue [Line Items]
Revenues	1,147	1,234	3,459	3,591
Bausch Lomb/ International | Pharmaceuticals
Disaggregation of Revenue [Line Items]
Revenues	222	241	667	722
Bausch Lomb/ International | Devices
Disaggregation of Revenue [Line Items]
Revenues	365	367	1,117	1,049
Bausch Lomb/ International | OTC
Disaggregation of Revenue [Line Items]
Revenues	352	397	1,046	1,153
Bausch Lomb/ International | Branded and Other Generics
Disaggregation of Revenue [Line Items]
Revenues	192	213	576	613
Bausch Lomb/ International | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	16	16	53	54
Salix
Disaggregation of Revenue [Line Items]
Revenues	460	452	1,323	1,141
Salix | Pharmaceuticals
Disaggregation of Revenue [Line Items]
Revenues	460	452	1,323	1,140
Salix | Devices
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Salix | OTC
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Salix | Branded and Other Generics
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Salix | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	1
Ortho Dermatologics
Disaggregation of Revenue [Line Items]
Revenues	177	177	460	556
Ortho Dermatologics | Pharmaceuticals
Disaggregation of Revenue [Line Items]
Revenues	140	140	348	448
Ortho Dermatologics | Devices
Disaggregation of Revenue [Line Items]
Revenues	29	25	90	75
Ortho Dermatologics | OTC
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Ortho Dermatologics | Branded and Other Generics
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Ortho Dermatologics | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	8	12	22	33
Diversified Products
Disaggregation of Revenue [Line Items]
Revenues	352	356	1,017	1,273
Diversified Products | Pharmaceuticals
Disaggregation of Revenue [Line Items]
Revenues	233	272	712	1,016
Diversified Products | Devices
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Diversified Products | OTC
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Diversified Products | Branded and Other Generics
Disaggregation of Revenue [Line Items]
Revenues	115	79	294	246
Diversified Products | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 4	$ 5	$ 11	$ 11

SEGMENT INFORMATION - Revenue b

SEGMENT INFORMATION - Revenue by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 2,136	$ 2,219	$ 6,259	$ 6,561
U.S. and Puerto Rico
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,329	1,306	3,766	3,945
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	91	90	273	240
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	78	83	231	238
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	59	58	165	166
Poland
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	49	51	164	147
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	46	41	159	142
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	56	54	153	144
Egypt
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	45	41	134	116
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	38	39	130	119
Russia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	38	57	106	148
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	29	29	87	79
Italy
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	19	19	64	58
Spain
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	17	17	61	55
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 242	$ 334	$ 766	$ 964

SEGMENT INFORMATION - Major Cus

SEGMENT INFORMATION - Major Customers (Details) - Revenues - Customer Concentration	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
AmerisourceBergen Corporation
Revenue, Major Customer [Line Items]
Concentration risk percentage	18.00%	15.00%
McKesson Corporation (including McKesson Specialty)
Revenue, Major Customer [Line Items]
Concentration risk percentage	18.00%	20.00%
Cardinal Health, Inc.
Revenue, Major Customer [Line Items]
Concentration risk percentage	13.00%	13.00%

SUBSEQUENT EVENT - Narrative (D

SUBSEQUENT EVENT - Narrative (Details) - Medpharma - Subsequent Event $ in Millions	Oct. 16, 2018USD ($)
Subsequent Event [Line Items]
Percentage of interest acquired	40.00%
Acquisition of noncontrolling interest	$ 20