Bausch Health Companies (BHC) 8-K 4 May 21 2020 FY Other Events Financial data

Document and Entity Information

Document and Entity Information	May 04, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	May 4, 2021
Entity Registrant Name	Bausch Health Companies Inc.
Entity Incorporation, State or Country Code	A1
Entity Address, Country	CA
Entity File Number	001-14956
Entity Tax Identification Number	98-0448205
Entity Address, Address Line One	2150 St. Elzéar Blvd. West
Entity Address, City or Town	Laval
Entity Address, State or Province	QC
Entity Address, Postal Zip Code	H7L 4A8
City Area Code	514
Local Phone Number	744-6792
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Shares, No Par Value
Trading Symbol	BHC
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0000885590
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 605	$ 3,243
Restricted cash	1,211	1
Trade receivables, net	1,577	1,839
Inventories, net	1,094	1,107
Prepaid expenses and other current assets	855	779
Total current assets	5,342	6,969
Property, plant and equipment, net	1,567	1,466
Intangible assets, net	8,445	10,201
Goodwill	13,044	13,126
Deferred tax assets, net	2,137	1,690
Other non-current assets	664	411
Total assets	31,199	33,863
Current liabilities:
Accounts payable	337	503
Accrued and other current liabilities	4,576	4,511
Current portion of long-term debt and other	0	1,234
Total current liabilities	4,913	6,248
Acquisition-related contingent consideration	216	262
Non-current portion of long-term debt	23,925	24,661
Deferred tax liabilities, net	528	705
Other non-current liabilities	1,012	851
Total liabilities	30,594	32,727
Commitments and contingencies (Notes 20 and 21)
Equity
Common shares, no par value, unlimited shares authorized, 355,422,347 and 352,562,636 issued and outstanding at December 31, 2020 and 2019, respectively	10,227	10,172
Additional paid-in capital	454	429
Accumulated deficit	(8,013)	(7,452)
Accumulated other comprehensive loss	(2,133)	(2,086)
Total Bausch Health Companies Inc. shareholders’ equity	535	1,063
Noncontrolling interest	70	73
Total equity	605	1,136
Total liabilities and equity	$ 31,199	$ 33,863

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, shares issued (in shares)	355,422,347	352,562,636
Common stock, shares outstanding (in shares)	355,422,347	352,562,636

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Revenue	$ 8,027	$ 8,601	$ 8,380
Expenses
Selling, general and administrative	2,367	2,554	2,473
Research and development	452	471	413
Amortization of intangible assets	1,645	1,897	2,644
Goodwill impairments	0	0	2,322
Asset impairments, including loss on assets held for sale	114	75	568
Restructuring, integration and separation costs	22	31	22
Acquisition-related contingent consideration	48	12	(9)
Other expense (income), net	454	1,414	(20)
Total Expenses	7,351	8,804	10,764
Operating income (loss)	676	(203)	(2,384)
Interest income	13	12	11
Interest expense	(1,534)	(1,612)	(1,685)
Loss on extinguishment of debt	(59)	(42)	(119)
Foreign exchange and other	(30)	8	23
Loss before benefit from income taxes	(934)	(1,837)	(4,154)
Benefit from income taxes	375	54	10
Net loss	(559)	(1,783)	(4,144)
Net income attributable to noncontrolling interest	(1)	(5)	(4)
Net loss attributable to Bausch Health Companies Inc.	$ (560)	$ (1,788)	$ (4,148)
Basic and diluted loss per share attributable to Bausch Health Companies Inc. (in dollars per share)	$ (1.58)	$ (5.08)	$ (11.81)
Basic and diluted weighted-average common shares (in shares)	355	352.1	351.3
Product sales
Revenues
Revenue	$ 7,924	$ 8,489	$ 8,271
Expenses
Cost of goods sold (excluding amortization and impairments of intangible assets) and Cost of other revenues	2,202	2,297	2,309
Other revenues
Revenues
Revenue	103	112	109
Expenses
Cost of goods sold (excluding amortization and impairments of intangible assets) and Cost of other revenues	$ 47	$ 53	$ 42

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (559)	$ (1,783)	$ (4,144)
Pension and postretirement benefit plan adjustments:
Net actuarial loss arising during the year	(15)	(8)	(7)
Amortization of prior service credit	(4)	(4)	(4)
Amortization or settlement recognition of net loss	1	2	1
Income tax benefit (expense)	2	(2)	3
Foreign currency impact	0	(2)	0
Net pension and postretirement benefit plan adjustments	(16)	(14)	(7)
Foreign currency translation adjustment	(29)	64	(237)
Other comprehensive (loss) income	(45)	50	(244)
Comprehensive loss	(604)	(1,733)	(4,388)
Comprehensive income attributable to noncontrolling interest	(3)	(4)	(1)
Comprehensive loss attributable to Bausch Health Companies Inc.	$ (607)	$ (1,737)	$ (4,389)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Bausch Health Companies Inc. Shareholders' Equity	Bausch Health Companies Inc. Shareholders' EquityCumulative Effect, Period of Adoption, Adjustment	Common Shares	Additional Paid-In Capital	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning Balance (in shares) at Dec. 31, 2017					348,700,000
Beginning Balance at Dec. 31, 2017	$ 5,944	$ 1,209	$ 5,849	$ 1,209	$ 10,090	$ 380	$ (2,725)	$ 1,209	$ (1,896)	$ 95
Increase (Decrease) in Shareholders' Equity
Common shares issued under share-based compensation plans (in shares)					1,200,000
Common shares issued under share-based compensation plans	2		2		$ 31	(29)
Share-based compensation	87		87			87
Share-based awards tax withholding	(10)		(10)			(10)
Acquisition of noncontrolling interest	(18)		(15)			(15)				(3)
Noncontrolling interest distributions	(11)									(11)
Net (loss) income	(4,144)		(4,148)				(4,148)			4
Other comprehensive (loss) income	(244)		(241)						(241)	(3)
Ending Balance (in shares) at Dec. 31, 2018					349,900,000
Ending Balance at Dec. 31, 2018	$ 2,815		2,733		$ 10,121	413	(5,664)		(2,137)	82
Increase (Decrease) in Shareholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Common shares issued under share-based compensation plans (in shares)					2,700,000
Common shares issued under share-based compensation plans	$ 5		5		$ 51	(46)
Share-based compensation	102		102			102
Share-based awards tax withholding	(40)		(40)			(40)
Noncontrolling interest distributions	(13)									(13)
Net (loss) income	(1,783)		(1,788)				(1,788)			5
Other comprehensive (loss) income	$ 50		51						51	(1)
Ending Balance (in shares) at Dec. 31, 2019	352,562,636				352,600,000
Ending Balance at Dec. 31, 2019	$ 1,136	$ (1)	1,063	$ (1)	$ 10,172	429	(7,452)	$ (1)	(2,086)	73
Increase (Decrease) in Shareholders' Equity
Common shares issued under share-based compensation plans (in shares)					2,800,000
Common shares issued under share-based compensation plans	5		5		$ 55	(50)
Share-based compensation	105		105			105
Share-based awards tax withholding	(30)		(30)			(30)
Noncontrolling interest distributions	(6)									(6)
Net (loss) income	(559)		(560)				(560)			1
Other comprehensive (loss) income	$ (45)		(47)						(47)	2
Ending Balance (in shares) at Dec. 31, 2020	355,422,347				355,400,000
Ending Balance at Dec. 31, 2020	$ 605		$ 535		$ 10,227	$ 454	$ (8,013)		$ (2,133)	$ 70

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flows From Operating Activities
Net loss	$ (559)	$ (1,783)	$ (4,144)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization of intangible assets	1,825	2,075	2,819
Amortization and write-off of debt discounts and debt issuance costs	61	63	79
Asset impairments, including loss on assets held for sale	114	75	568
Goodwill impairment	0	0	2,322
Acquisition-related contingent consideration	48	12	(9)
Allowances for losses on trade receivables and inventories	60	75	69
Deferred income taxes	(475)	(230)	(144)
(Gain) loss on disposal of assets	(1)	(31)	6
Additions (reductions) to accrued legal settlements	442	1,401	(27)
Payments of accrued legal settlements	(168)	(15)	(224)
Share-based compensation	105	102	87
Foreign exchange loss (gain)	8	7	(19)
Gain excluded from hedge effectiveness	(23)	(9)	0
Loss on extinguishment of debt	59	42	119
Payments of contingent consideration adjustments, including accretion	(1)	(1)	(2)
Other	(18)	36	(17)
Changes in operating assets and liabilities:
Trade receivables	170	39	216
Inventories	(77)	(209)	(5)
Prepaid expenses and other current assets	12	1	(72)
Accounts payable, accrued and other liabilities	(471)	(149)	(121)
Net cash provided by operating activities	1,111	1,501	1,501
Cash Flows From Investing Activities
Acquisition of businesses, net of cash acquired	0	(180)	5
Acquisition of intangible assets and other assets	(7)	(8)	(78)
Purchases of property, plant and equipment	(302)	(270)	(157)
Purchases of marketable securities	(4)	(16)	(7)
Proceeds from sale of marketable securities	8	10	7
Proceeds from sale of assets and businesses, net of costs to sell	21	45	34
Interest settlements from cross-currency swaps	23	0	0
Net cash used in investing activities	(261)	(419)	(196)
Cash Flows From Financing Activities
Issuance of long-term debt, net of discounts	3,455	5,960	8,944
Repayments of long-term debt	(5,642)	(4,406)	(10,101)
Borrowings of short-term debt	1	12	0
Repayments of short-term debt	(1)	(12)	(3)
Payment of employee withholding taxes related to share-based awards	(30)	(40)	(10)
Payments of acquisition-related contingent consideration	(35)	(35)	(37)
Payments of deferred consideration	0	0	(18)
Payments of financing costs	(39)	(28)	(102)
Other	(3)	(8)	(26)
Net cash (used in) provided by financing activities	(2,294)	1,443	(1,353)
Effect of exchange rate changes on cash and cash equivalents	16	(4)	(26)
Net (decrease) increase in Cash and cash equivalents and Restricted cash	(1,428)	2,521	(74)
Cash and cash equivalents and Restricted cash, beginning of year	3,244	723	797
Cash and cash equivalents and Restricted cash, end of year	1,816	3,244	723
Cash and cash equivalents, end of year	605	3,243	721
Restricted cash, end of year	1,211	1	2
Cash and cash equivalents and Restricted cash, end of year	$ 3,244	$ 3,244	$ 723

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESSBausch 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 approximately 100 countries. Effective August 9, 2013, the Company continued from the federal jurisdiction of Canada to the Province of British Columbia, meaning that the Company became a company registered under the laws of the Province of British Columbia as if it had been incorporated under the laws of the Province of British Columbia. As a result of this continuance, the legal domicile of the Company became the Province of British Columbia, the Canada Business Corporations Act ceased to apply to the Company and the Company became subject to the British Columbia Business Corporations Act.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates The Consolidated Financial Statements have been prepared by the Company in United States (“U.S.”) dollars and in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), applied on a consistent basis. The 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. Separation of the Bausch + Lomb Eye-Health Business On August 6, 2020, the Company announced that it intends to separate its eye-health business into an independent publicly traded entity from the remainder of Bausch Health Companies Inc. (the “Separation”). The Separation will establish two separate companies that include: (i) a fully integrated eye-health company which will consist of the Company’s Bausch + Lomb Global Vision Care, Global Surgical, Global Consumer and Global Ophthalmology Rx businesses and (ii) a diversified pharmaceutical company which will include the Company’s Salix, International Rx, Solta, neurology and medical dermatology pharmaceutical businesses. The anticipated separation is subject to regulatory approvals and certain conditions, including final approval by the Company’s Board of Directors and any shareholder vote requirements that may be applicable. The Company has begun addressing the internal organizational design and structure of the new entity which it anticipates having substantially completed by late 2021. Management is also exploring various capitalization structures and the form of the Separation transaction in order to properly capitalize both entities post-separation. As of the date of the issuance of these financial statements, the Company is in the planning phase of the Separation. As such, there are considerations, approvals and conditions that will determine the ultimate timing and structure of the Separation and there can be no assurance that such a transaction will occur. These Consolidated Financial Statements do not include any adjustments to give effect to the Separation. Impacts of COVID-19 Pandemic The unprecedented nature of the COVID-19 pandemic has adversely impacted the global economy. The COVID-19 pandemic and the rapidly evolving reactions of governments, private sector participants and the public in an effort to contain the spread of the COVID-19 virus and/or address its impacts have intensified and have had significant direct and indirect effects on businesses and commerce. This includes, but is not limited to, disruption to supply chains, employee base and transactional activity, facilities closures and production suspensions. The COVID-19 pandemic has also significantly increased demand for certain goods and services, such as pandemic-related medical services and supplies, alongside decreased demand for others, such as retail, hospitality, elective medical procedures and travel. The extent to which these events may continue to impact the Company's business, financial condition, cash flows and results of operations, in particular, will depend on future developments which are highly uncertain and many of which are outside the Company's control. Such developments include the availability and effectiveness of vaccines for the COVID-19 virus, the ultimate geographic spread and duration of the pandemic, the extent and duration of a resurgence of the COVID-19 virus and variant strains thereof, if any, new information concerning the severity of the COVID-19 virus, the effectiveness and intensity of measures to contain the COVID-19 virus and the economic impact of the pandemic and the reactions to it. Such developments, among others, depending on their nature, duration and intensity, could have a significant adverse effect on the Company's business, financial condition, cash flows and results of operations. To date, the Company has been able to continue its operations with limited disruptions in supply and manufacturing. Although it is difficult to predict the broad macroeconomic effects that the COVID-19 pandemic will have on industries or individual companies, the Company has assessed the possible effects and outcomes of the pandemic on, among other things, its supply chain, customers and distributors, discounts and rebates, employee base, product sustainability, research and development efforts, product pipeline and consumer demand and currently believes that its estimates are reasonable. Use of Estimates In preparing the Company's Consolidated Financial Statements, management is required to make estimates and assumptions. This includes estimates and assumptions regarding the nature, timing and extent of the impacts that the COVID-19 pandemic will have on its operations and cash flows. The estimates and assumptions used by the Company affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by management include: provisions for product returns, rebates, chargebacks, discounts and allowances and distribution fees paid to certain wholesalers; useful lives of amortizable intangible assets and property, plant and equipment; expected future cash flows used in evaluating intangible assets for impairment, assessing compliance with debt covenants and making going concern assessments; reporting unit fair values for testing goodwill for impairment and allocating goodwill to new reporting unit structure on a relative fair value basis; provisions for loss contingencies; provisions for income taxes, uncertain tax positions and realizability of deferred tax assets; fair value of cross-currency swaps; and the recognition of the fair value of assets and liabilities acquired in a business combination, including the fair value of contingent consideration. Under certain product manufacturing and supply agreements, management uses information from the Company’s commercialization counterparties to arrive at estimates for future returns, rebates and chargebacks. On an ongoing basis, management reviews its estimates to ensure that these estimates appropriately reflect changes in the Company’s business and new information as it becomes available. If historical experience and other factors used by management to make these estimates do not reasonably reflect future activity, the Company’s Consolidated Financial Statements could be materially impacted. Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation. Commencing in the first quarter of 2021, the Company operates in the following reportable segments: (i) Bausch + Lomb, (ii) Salix, (iii) International Rx, (iv) Ortho Dermatologics and (v) Diversified Products. Prior to the first quarter of 2021, the Company operated in the following reportable segments: (i) Bausch + Lomb/International, (ii) Salix, (iii) Ortho Dermatologics and (iv) Diversified Products. All segment revenues and profits for the periods presented have been recast to conform to the 2021 reporting segment reporting structure. See Note 22, "SEGMENT INFORMATION" for additional information. Acquisitions Acquired businesses are accounted for using the acquisition method of accounting, which requires that assets acquired and liabilities assumed be recorded at fair value, with limited exceptions. Transaction costs and costs to restructure the acquired company are expensed as incurred. The operating results of the acquired business are reflected in the Consolidated Financial Statements after the date of acquisition. Acquired in-process research and development (“IPR&D”) is recognized at fair value and initially characterized as an indefinite-lived intangible asset, irrespective of whether the acquired IPR&D has an alternative future use. If the acquired net assets do not constitute a business, the transaction is accounted for as an asset acquisition and no goodwill is recognized. In an asset acquisition, the amount allocated to acquired IPR&D with no alternative future use is charged to expense at the acquisition date and any future contingent consideration is not recorded until it becomes probable. Fair Value of Financial Instruments The estimated fair values of cash and cash equivalents, trade receivables, accounts payable and accrued liabilities approximate their carrying values due to their short maturity periods. The fair value of acquisition-related contingent consideration is based on estimated discounted future cash flows or Monte Carlo Simulation (when appropriate) analyses and assessment of the probability of occurrence of potential future events. Fair Value of Derivative Instruments The accounting for changes in the fair value of a derivative instrument depends on whether the instrument has been designated and qualifies as part of a hedging relationship and on the type of hedging relationship. For derivative instruments designated and qualifying as hedging instruments, the hedging instrument must be designated, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of the foreign currency exposure of a net investment in a foreign operation. For derivative instruments not designated as hedging instruments, the gain or loss is recognized in the Consolidated Statements of Operations during the current period. The Company’s cross-currency swaps qualify for and have been designated as an accounting hedge of the foreign currency exposure of a net investment in a foreign operation and are remeasured at each reporting date to reflect changes in their fair values. The fair value is determined via a mark-to-market analysis, using observable (Level 2) inputs. These inputs may include: (i) the foreign currency exchange spot rate between the euro and U.S. dollar, (ii) the interest rate yield curves in the euro and U.S. dollar and (iii) the credit risk rating for each applicable counterparty. The net change in fair value of cross-currency swaps is reported as a gain or loss in the Consolidated Statements of Comprehensive Loss as part of Foreign currency translation adjustment to the extent they are effective, and remain in Accumulated other comprehensive loss until either the sale or complete, or substantially complete, liquidation of the subsidiary. No portion of the cross-currency swaps was ineffective. The Company uses the spot method of assessing hedge effectiveness. The Company has elected to amortize amounts excluded from the assessment of effectiveness over the term of its cross-currency swaps as a reduction of Interest expense in the Consolidated Statements of Operations. The Company uses foreign currency exchange contracts to economically hedge the foreign exchange exposure on certain of the Company’s intercompany and third party balances. The Company's foreign currency exchange contracts are remeasured at each reporting date to reflect changes in their fair values determined using forward rates, which are observable market inputs, multiplied by the notional amount. These contracts have not been designated as an accounting hedge, and therefore the net change in their fair value is reported as a gain or loss in the Consolidated Statements of Operations as part of Foreign exchange and other. Cash and Cash Equivalents Cash and cash equivalents consist of cash in bank accounts and highly liquid investments with maturities of three months or less when purchased. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, trade receivables, cross-currency swaps and foreign currency exchange contracts. The Company invests its excess cash in high-quality, money market instruments and term deposits with varying maturities, but typically less than three months. Cash deposited at banks may exceed the amount of insurance provided on such deposits. Generally, these cash deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading its risk across multiple counterparties and monitoring the risk profiles of these counterparties. The Company’s trade receivables primarily represent amounts due from wholesale distributors, retail pharmacies, government entities and group purchasing organizations. Outside of the U.S., concentrations of credit risk with respect to trade receivables, which are typically unsecured, are limited due to the number of customers using the Company’s products, as well as their dispersion across many different geographic regions. The Company performs periodic credit evaluations of customers and does not require collateral. The Company monitors economic conditions, including volatility associated with international economies, and related impacts on the relevant financial markets and its business, especially in light of sovereign credit issues. The credit and economic conditions within Argentina, Brazil, Egypt, Greece, among other members of the European Union, Turkey, Ukraine and Venezuela have been weak in recent years. These conditions have increased, and may continue to increase, the average length of time that it takes to collect on the Company’s trade receivables outstanding in these countries. As of December 31, 2020, the Company’s three largest U.S. wholesaler customers accounted for approximately 38% of net trade receivables. In addition, as of December 31, 2020 and 2019, the Company’s net trade receivable balance from Argentina, Brazil, Egypt, Greece, Serbia, Turkey, Ukraine, Venezuela and Vietnam amounted to $166 million and $156 million, respectively, the majority of which is current or less than 90 days past due. The portion of the net trade receivable from these countries that is past due more than 90 days amounted to $2 million, as of December 31, 2020, a portion of which is comprised of public hospitals. Based on an analysis of credit risk, including an analysis of bad debt experience and assessment of historical payment patterns for such customers, the Company has established a reserve covering more than half of the balance past due more than 90 days for such countries. Over the three-year period ended December 31, 2020, the Company has not experienced any material losses from uncollectible accounts in excess of the established reserves. The Company does not enter into financial instruments for trading or speculative purposes. Further, the Company has a policy of only entering into contracts with parties that have at least an investment grade credit rating. The Company enters into cross-currency swaps and foreign currency exchange contracts with high credit quality financial institutions. The counter-parties to the Company's cross-currency swaps and foreign currency exchange contracts are major financial institutions, and there is no significant concentration of exposure with any one counter-party. To date, no counterparty has failed to meet its obligations to the Company and management believes the risk of loss associated with these contracts is remote. See Note 5, "FAIR VALUE MEASUREMENTS" for additional details regarding the Company's cross-currency swaps and foreign currency exchange contracts. Allowance for Credit Losses An allowance is maintained for potential credit losses. The Company estimates the current expected credit loss on its receivables based on various factors, including historical credit loss experience, customer credit worthiness, value of collaterals (if any), and any relevant current and reasonably supportable future economic factors. Additionally, the Company generally estimates the expected credit loss on a pool basis when customers are deemed to have similar risk characteristics. Trade receivable balances are written off against the allowance when it is deemed probable that the trade receivable will not be collected. Trade receivables, net are stated net of certain sales provisions and the allowance for credit losses. Allowance for credit losses were $39 million, $48 million and $47 million as of December 31, 2020, 2019 and 2018, respectively. The activity in the allowance for credit losses for trade receivables for the years 2020, 2019 and 2018 is as follows. (in millions) 2020 2019 2018 Balance, beginning of period $ 48 $ 47 $ 97 Retrospective effect of application of new accounting standard 1 — — Provision 2 10 4 Write-offs (12) (10) (50) Recoveries 3 1 2 Foreign exchange and other (3) — (6) Balance, end of period $ 39 $ 48 $ 47 Inventories Inventories comprise raw materials, work in process and finished goods, which are valued at the lower of cost or net realizable value, on a first-in, first-out basis. The cost value for work in process and finished goods inventories includes materials, direct labor and an allocation of overheads. The Company evaluates the carrying value of inventories on a regular basis, taking into account such factors as historical and anticipated future sales compared with quantities on hand, the price the Company expects to obtain for products in their respective markets compared with historical cost and the remaining shelf life of goods on hand. Property, Plant and Equipment Property, plant and equipment are reported at cost, less accumulated depreciation. Costs incurred on assets under construction are capitalized as construction in progress. Depreciation is calculated using the straight-line method, commencing when the assets become available for productive use, based on the following estimated useful lives: Land improvements 15 - 30 years Buildings and improvements Up to 40 years Machinery and equipment 3 - 20 years Other equipment 3 - 10 years Equipment on operating lease Up to 5 years Leasehold improvements Lesser of term of lease or 10 years Intangible Assets Intangible assets are reported at cost, less accumulated amortization and impairments. Intangible assets with finite lives are amortized over their estimated useful lives. Amortization is calculated primarily using the straight-line method based on the following estimated useful lives: Product brands 1 - 20 years Corporate brands 7 - 20 years Product rights/patents 4 - 15 years Partner relationships 7 - 9 years Out-licensed technology and other 8 - 9 years Divestitures of Products The net proceeds on the divestiture of products and the carrying amount of the related assets is recorded as a gain/loss on sale within Other expense (income), net. Any contingent payments that are potentially due to the Company as a result of these divestitures are recorded when realizable. IPR&D The fair value of IPR&D acquired through a business combination is capitalized as an indefinite-lived intangible asset until the completion or abandonment of the related research and development activities. When the related research and development is completed, the asset will be assigned a useful life and amortized. Acquired IPR&D assets are tested for impairment at least annually or when triggering events are identified. The fair value of an acquired IPR&D intangible asset is typically determined using an income approach. This approach starts with a forecast of the net cash flows expected to be generated by the asset over its estimated useful life. The net cash flows reflect the asset’s stage of completion, the probability of technical success, the projected costs to complete, expected market competition and an assessment of the asset’s life-cycle. The net cash flows are then adjusted to present value by applying an appropriate discount rate that reflects the risk factors associated with the expected cash flow streams. Impairment of Long-Lived Assets Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If indicators of impairment are present, the asset is tested for recoverability by comparing the carrying value of the asset to the related estimated undiscounted future cash flows expected to be derived from the asset. If the expected undiscounted cash flows are less than the carrying value of the asset, then the asset is considered to be impaired and its carrying value is written down to fair value, based on the related estimated discounted future cash flows. Indefinite-lived intangible assets, which includes acquired IPR&D and the corporate trademark acquired in the acquisition of Bausch & Lomb Holdings Incorporated (the ‘‘B&L Trademark’’), are tested for impairment annually or more frequently if events or changes in circumstances between annual tests indicate that the asset may be impaired. Impairment losses on indefinite-lived intangible assets are recognized based on a comparison of the fair value of the asset to its carrying value. Goodwill Goodwill is recorded with the acquisition of a business and is calculated as the difference between the acquisition date fair value of the consideration transferred and the values assigned to the assets acquired and liabilities assumed. Goodwill is not amortized but is tested for impairment at least annually as of October 1st at the reporting unit level. Goodwill impairment is measured as the amount by which a reporting unit's carrying value exceeds its fair value. A reporting unit is the same as, or one level below, an operating segment. A n entity is permitted to first assess qualitatively whether it is necessary to perform a quantitative impairment test for any of its reporting units. The quantitative impairment test is required only when the Company concludes that it is more likely than not that a reporting unit’s fair value is less than its carrying amount. In evaluating whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company considers the totality of all relevant events or circumstances that affect the fair value or carrying amount of a reporting unit. An interim goodwill impairment test in advance of the annual impairment assessment may be required if events occur that indicate an impairment might be present. For example, a substantial decline in the Company’s market capitalization, changes in reportable segments, unexpected adverse business conditions, economic factors and unanticipated competitive activities may signal that an interim impairment test is needed. Accordingly, among other factors, the Company monitors changes in its share price between annual impairment tests. The Company considers a decline in its share price that corresponds to an overall deterioration in stock market conditions to be less of an indicator of goodwill impairment than a unilateral decline in its share price reflecting adverse changes in its underlying operating performance, cash flows, financial condition and/or liquidity. In the event that the Company’s market capitalization does decline below its book value, the Company would consider the length and severity of the decline and the reason for the decline when assessing whether potential goodwill impairment exists. The Company believes that short-term fluctuations in share prices may not necessarily reflect underlying values. Effective January 1, 2018, the Company elected to early adopt guidance issued by the Financial Accounting Standards Board ("FASB") which simplified the subsequent measurement of goodwill by eliminating “Step 2” from the goodwill impairment test. Instead, as of January 1, 2018 and all subsequent periods, goodwill impairment is measured as the amount by which a reporting unit's carrying value exceeds its fair value. Debt Discounts and Premiums, Issuance Costs and Deferred Financing Costs Debt discounts, premiums and issuance costs are presented in the Consolidated Balance Sheets as a direct deduction from or addition to the carrying amount of the related debt and are amortized or accreted, using the effective interest method, as interest expense over the contractual lives of the related credit facilities or notes. Deferred financing costs associated with revolving credit facility arrangements are included in the balances of Prepaid expenses and other current assets and Other non-current assets in the Consolidated Balance Sheets and are amortized as interest expense over the contractual life of the related revolving credit facility. Foreign Currency Translation The assets and liabilities of the Company’s foreign operations having a functional currency other than the U.S. dollar are translated into U.S. dollars at the exchange rate prevailing at the balance sheet date, and at the average exchange rate for the reporting period for revenue and expense accounts. The cumulative foreign currency translation adjustment is recorded as a component of Accumulated other comprehensive loss in the Consolidated Balance Sheets. Foreign currency exchange gains and losses on transactions occurring in a currency other than an operation’s functional currency are recognized as a component of Foreign exchange and other in the Consolidated Statements of Operations. Revenue Recognition The Company’s revenues are primarily generated from product sales, primarily in the therapeutic areas of eye-health, gastroenterology ("GI") and dermatology 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 22, "SEGMENT INFORMATION" for the disaggregation of revenues 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. 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. Product Sales 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 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 the years 2020 and 2019. (in millions) Discounts Returns Rebates Chargebacks Distribution Total Reserve balance, January 1, 2019 $ 175 $ 813 $ 1,024 $ 209 $ 163 $ 2,384 Acquisition of Synergy — 3 12 — 1 16 Current period provision 776 113 2,265 1,938 195 5,287 Payments and credits (769) (238) (2,374) (1,979) (277) (5,637) Reserve balance, December 31, 2019 182 691 927 168 82 2,050 Current period provision 621 120 2,174 1,925 196 5,036 Payments and credits (613) (236) (2,322) (1,909) (193) (5,273) Reserve balance, December 31, 2020 $ 190 $ 575 $ 779 $ 184 $ 85 $ 1,813 Included in Rebates in the table above are cooperative advertising credits due to customers of approximately $32 million and $29 million as of December 31, 2020 and 2019, respectively, 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. These judgments include the potential impact of the COVID-19 pandemic on, among other things, unemployment and related changes in customer health insurance levels, customer behaviors during the COVID-19 pandemic and government stimulus bills that focus on ensuring availability and access to lifesaving drugs during a public health crisis. This evaluation may result in an increase or decrease in the experience rate that is applied to current and future sales, or require an adjustment related to past sales, or both. If the trend in actual amounts of variable consideration varies from the Company’s prior estimates, the Company adjusts these estimates when such trend is believed to be sustainable. At that time, the Company would record the necessary adjustments which would affect net product revenue and earnings reported in the current period. 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 and allowances 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 a product within a specified period of time before and after its expiration date, excluding European businesses which generally do not provide 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, tak

ACQUISITIONS, LICENSING AGREEME

ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE	ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE Acquisition Agreement for Synergy Pharmaceuticals Inc. On March 6, 2019, the Company acquired certain assets of Synergy Pharmaceuticals Inc. ("Synergy") for a cash purchase price of approximately $180 million and the assumption of certain liabilities, pursuant to the terms approved by the U.S. Bankruptcy Court for the Southern District of New York on March 1, 2019. Among the assets acquired are the worldwide rights to the Trulance ® (plecanatide) product, a once-daily tablet for adults with chronic idiopathic constipation and irritable bowel syndrome with constipation. This acquired business is included in the Company's Salix segment and is expected to result in additional revenues and costs savings associated with business synergies. Assets Acquired and Liabilities Assumed The acquisition of certain assets of Synergy has been accounted for as a business combination under the acquisition method of accounting since: (i) substantially all of the fair value of the assets acquired is not concentrated in a single identifiable asset or group of similar identifiable assets and (ii) substantive inputs and processes were acquired to contribute to the creation of outputs. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed related to the acquisition of certain assets of Synergy as of the acquisition date: (in millions) Accounts receivable $ 7 Inventories 24 Prepaid expenses and other current assets 5 Product brand intangible assets (estimated useful life 7 years) 159 Accounts payable (1) Accrued expenses (17) Total identifiable net assets 177 Goodwill 3 Total fair value of consideration transferred $ 180 Goodwill associated with the acquisition of certain assets of Synergy is not deductible for income tax purposes. Revenue and Operating Results Revenues associated with the acquired assets of Synergy during the period March 6, 2019 through December 31, 2019 were $55 million. Operating results associated with the acquired assets of Synergy during the period March 6, 2019 through December 31, 2019 and pro-forma revenues and operating results for the year 2019 were not material. Included in Other expense (income), net for 2019 are acquisition-related costs of $8 million directly related to the acquisition of certain assets of Synergy, which include expenditures for advisory, legal, valuation, accounting and other similar services. Noncontrolling Interest in Medpharm a On October 16, 2018, using cash on hand, the Company acquired the 40% noncontrolling interest of Medpharma Pharmaceutical & Chemical Industries LLC (“Medpharma”) for $18 million. The difference between the carrying value and the price paid for the noncontrolling interest in Medpharma of $15 million, is a reduction of additional paid-in capital. There were no other material business combinations in 2020, 2019 or 2018. The measurement period for all acquisitions has closed. Option to Purchase All Ophthalmology Assets of Allegro Ophthalmics, LLC ("Allegro") On September 21, 2020, the Company announced that it had entered into an agreement to acquire an option to purchase all of the ophthalmology assets of Allegro (the "Option"), a privately held biopharmaceutical company focused on the development of therapies that regulate integrin functions for the treatment of ocular diseases. Among the assets to be acquired if the Option is exercised, is the worldwide rights to risuteganib (Luminate ® ), Allegro's lead investigational compound in retina, which is believed to simultaneously act on the angiogenic, inflammatory and mitochondrial metabolic pathways implicated in diseases such as intermediate dry Age-related Macular Degeneration ("AMD"). A U.S. Phase 2a study with risuteganib in intermediate dry AMD met its primary endpoint of vision recovery and Phase 3 testing is in the planning stages. The aggregate payments to acquire the Option are $50 million and include an upfront payment of $10 million and a second payment of $40 million should Allegro raise additional funding. During the three months ended September 30, 2020, the Company made and expensed the upfront payment of $10 million as acquired IPR&D included in Other expense (income), net. If the Option is exercised, additional payments to acquire all ophthalmology assets of Allegro will be due. Licensing Agreements In the normal course of business, the Company may enter into select licensing and collaborative agreements for the commercialization and/or development of unique products. These products are sometimes investigational treatments in early stage development that target unique conditions. The ultimate outcome, including whether the product will be: (i) fully developed, (ii) approved by regulatory agencies, (iii) covered by third-party payors or (iv) profitable for distribution, is highly uncertain. The commitment periods under these agreements vary and include customary termination provisions. Expenses arising from commitments, if any, to fund the development and testing of these products and their promotion are recognized as incurred. Royalties due are recognized when earned and milestone payments are accrued when each milestone has been achieved and payment is probable and can be reasonably estimated. Assets Held for Sale During the three months ended December 31, 2020, the Company identified for disposal a certain business within the International Rx segment. This business was classified as held for sale as of December 31, 2020. The carrying amounts of the assets and liabilities held for sale included in the Consolidated Balance Sheet as of December 31, 2020 are as follows: (in millions) Prepaid expenses and other current assets: Trade receivables, net $ 91 Inventories, net 63 Prepaid expenses and other current assets 8 $ 162 Other non-current assets: Property, plant and equipment, net $ 68 Goodwill and Intangible assets, net 245 Deferred tax assets, net 2 $ 315 Accrued and other current liabilities: Accounts payable $ 7 Accrued and other current liabilities 28 $ 35 Other non-current liabilities: Deferred tax liabilities, net $ 36 Other non-current liabilities 21 $ 57 Included within Deferred tax liabilities, net, are book to income tax differences related to the Company's intangible assets.

RESTRUCTURING, INTEGRATION AND

RESTRUCTURING, INTEGRATION AND SEPARATION COSTS	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING, INTEGRATION AND SEPARATION COSTS	RESTRUCTURING, INTEGRATION AND SEPARATION COSTS Restructuring and integration costs The Company evaluates opportunities to improve its operating results and implements cost savings programs to streamline its operations and eliminate redundant processes and expenses. Restructuring and integration costs are expenses associated with the implementation of these cost savings programs and include 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. The liability associated with restructuring and integration costs as of December 31, 2020 was $20 million. During 2020, the Company incurred $11 million of restructuring and integration-related costs. These costs included: (i) $10 million of facility closure costs and (ii) $1 million of severance and other costs. The Company made payments of $18 million during 2020. During 2019, the Company incurred $31 million of restructuring and integration costs. These costs included: (i) $11 million of severance costs and other costs associated with the acquisition of certain assets of Synergy, (ii) $11 million of facility closure costs and (iii) $9 million of other severance costs. The Company made payments of $31 million during 2019. During 2018, the Company incurred $22 million of restructuring and integration costs. These costs included: (i) $11 million of severance costs, (ii) $10 million of facility closure costs and (iii) $1 million of other costs. The Company made payments of $33 million during 2018. Separation costs and separation-related costs The Company has incurred, and will incur, costs associated with activities to effectuate the Separation. These activities include: (i) separating the eye-health business from the remainder of the Company and (ii) registering the eye-health business as an independent publicly traded entity. Separation costs are incremental costs directly related to the Separation and include, but are not limited to: (i) legal, audit and advisory fees, (ii) employee hiring, relocation and travel costs and (iii) costs associated with establishing a new board of directors and audit committee. Included in Restructuring, integration and separation costs for 2020 is $11 million of separation costs. The Company has also incurred, and will incur, separation-related costs which are incremental costs indirectly related to the Separation. Separation-related costs include, but are not limited to: (i) IT infrastructure and software licensing costs, (ii) rebranding costs and (iii) costs associated with facility relocation and/or modification. Included in Selling, general and administrative expenses for 2020 is $21 million of separation-related costs. The Company is in the planning phase of the Separation and the extent and timing of future charges for these costs cannot be reasonably estimated at this time and could be material.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
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 as of: December 31, 2020 December 31, 2019 (in millions) Carrying Level 1 Level 2 Level 3 Carrying Level 1 Level 2 Level 3 Assets: Cash equivalents $ 41 $ 8 $ 33 $ — $ 2,696 $ 2,646 $ 50 $ — Restricted Cash $ 1,211 $ 1,211 $ — $ — $ 1 $ 1 $ — $ — Foreign currency exchange contracts $ 3 $ — $ 3 $ — $ — $ — $ — $ — Liabilities: Acquisition-related contingent consideration $ 328 $ — $ — $ 328 $ 316 $ — $ — $ 316 Cross-currency swaps $ 70 $ — $ 70 $ — $ 13 $ — $ 13 $ — Foreign currency exchange contracts $ 11 $ — $ 11 $ — $ — $ — $ — $ — 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. As of December 31, 2020, Restricted cash includes $1,210 million of payments into an escrow fund under the terms of a settlement agreement regarding certain U.S. securities litigation, subject to an objector's appeal of the final court approval, and is reflected in the Consolidated Balance Sheets at carrying value, which approximates fair value due to its short-term nature. These payments will remain in escrow until final approval of the settlement as discussed in Note 20, "LEGAL PROCEEDINGS". There were no transfers into or out of Level 3 during 2020 and 2019. Cross-currency Swaps During 2019, the Company entered into cross-currency swaps, with aggregate notional amounts of $1,250 million, to mitigate fluctuation in the value of a portion of its euro-denominated net investment in its consolidated financial statements from adverse movements in exchange rates. The euro-denominated net investment being hedged is the Company’s investment in certain euro-denominated subsidiaries. Prior to 2019, the Company had no cross-currency swaps. The fair value of the Company’s cross-currency swaps liability as of December 31, 2020 and 2019 was $70 million and $13 million, respectively. Included in Other non-current liabilities is $79 million and $22 million of cross-currency swaps and included in Prepaid expenses and other current assets is $9 million and $9 million of earned interest within the Consolidated Balance Sheets as of December 31, 2020 and 2019, respectively. The following table presents the effect of hedging instruments on the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Loss for 2020 and 2019: (in millions) 2020 2019 Loss recognized in Other comprehensive loss $ (57) $ (22) Gain excluded from assessment of hedge effectiveness $ 23 $ 9 Location of gain of excluded component Interest Expense Settlement of the Company's cross-currency swaps occurs in February and August each year. During 2020, the Company received $23 million in settlements which are reported as Investing activities in the Consolidated Statements of Cash Flows. Foreign Currency Exchange Contracts During 2020, the Company entered into foreign currency exchange contracts, with an aggregate notional amount of $485 million. Prior to 2020, the Company had no foreign currency exchange contracts for any period presented. The fair value of the Company's foreign currency exchange contracts liability as of December 31, 2020 was $8 million. Included in Accrued and other current liabilities are $11 million and included in Prepaid expenses and other current assets are $3 million of foreign currency exchange contracts within the Consolidated Balance Sheets. During 2020, the net change in fair value was a loss of $8 million. Settlements of the Company's foreign currency exchange contracts are reported as a gain or loss in the Consolidated Statements of Operations as part of Foreign exchange and other and reported as operating activities in the Consolidated Statements of Cash Flows. During 2020, the Company reported a realized loss of $2 million related to settlements of the Company's foreign currency exchange contracts. Acquisition-related Contingent Consideration Obligations The fair value measurement of contingent consideration obligations arising from business combinations is determined via a probability-weighted discounted cash flow analysis, 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 and (iii) the risk-adjusted discount rate used to present value the probability-weighted cash flows. Significant increases or decreases in any of those inputs in isolation could result in a significantly higher or lower fair value measurement. At December 31, 2020, the fair value measurements of acquisition-related contingent consideration were determined using risk-adjusted discount rates ranging from 6% to 25%, and a weighted average risk-adjusted discount rate of 8%. The weighted average risk-adjusted discount rate was calculated by weighting each contract's relative fair value at December 31, 2020. The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for the years 2020 and 2019: (in millions) 2020 2019 Beginning balance, January 1, $ 316 $ 339 Adjustments to Acquisition-related contingent consideration: Accretion for the time value of money $ 23 $ 22 Fair value adjustments 25 (10) Acquisition-related contingent consideration adjustments 48 12 Payments / Settlements (36) (36) Foreign currency translation adjustment included in other comprehensive loss — 1 Ending balance, December 31, 328 316 Current portion 112 54 Non-current portion $ 216 $ 262 Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The following table presents the components and classification of the Company’s financial assets and liabilities measured at fair value on a non-recurring basis: December 31, 2020 December 31, 2019 (in millions) Carrying Level 1 Level 2 Level 3 Carrying Level 1 Level 2 Level 3 Other non-current assets: Non-current assets held for sale $ 245 $ — $ — $ 245 $ 39 $ — $ — $ 39 Non-current assets held for sale of $245 million as of December 31, 2020 were remeasured to estimated fair value, less costs to sell, which utilized Level 3 unobservable inputs. See Note 3, "ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE" for additional details regarding these assets held for sale. In 2019, the Company identified certain products in the Bausch + Lomb and International Rx segments and one product in the Diversified Products segment for disposal. The products and the related assets and liabilities of this disposal group qualified as a business and an impairment of $8 million associated with this business was recognized during the three months ended September 30, 2019. As a result of changing business dynamics, during the three months ended March 31, 2020, the Company decided not to sell these assets and reclassified $39 million of held for sale assets as assets held and used at their respective fair values at the date of the decision not to sell. This reclassification did not impact the Consolidated Statement of Operations for 2020. Fair Value of Long-term Debt The fair value of long-term debt as of December 31, 2020 and 2019 was $25,378 million and $27,520 million, respectively, and was estimated using the quoted market prices for the same or similar debt issuances (Level 2).

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories, net, as of December 31, 2020 and 2019 consist of: (in millions) 2020 2019 Raw materials $ 286 $ 319 Work in process 143 149 Finished goods 665 639 $ 1,094 $ 1,107

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT The major components of property, plant and equipment as of December 31, 2020 and 2019 consist of: (in millions) 2020 2019 Land $ 79 $ 79 Buildings and improvements 686 696 Machinery and equipment 1,722 1,606 Other equipment and leasehold improvements 360 369 Equipment on operating lease 65 56 Construction in progress 436 301 3,348 3,107 Accumulated depreciation (1,781) (1,641) $ 1,567 $ 1,466 Depreciation expense was $180 million, $178 million and $175 million for 2020, 2019 and 2018, respectively.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Intangible Assets The major components of intangible assets as of December 31, 2020 and 2019 consist of: Weighted- 2020 2019 (in millions) Gross Accumulated Net Gross Accumulated Net Finite-lived intangible assets: Product brands 6 $ 20,890 $ (14,914) $ 5,976 $ 21,011 $ (13,544) $ 7,467 Corporate brands 7 907 (404) 503 930 (338) 592 Product rights/patents 3 3,305 (3,055) 250 3,297 (2,887) 410 Partner relationships 1 169 (168) 1 166 (165) 1 Technology and other 3 210 (200) 10 209 (189) 20 Total finite-lived intangible assets 25,481 (18,741) 6,740 25,613 (17,123) 8,490 Acquired IPR&D not in service NA 7 — 7 13 — 13 B&L Trademark NA 1,698 — 1,698 1,698 — 1,698 $ 27,186 $ (18,741) $ 8,445 $ 27,324 $ (17,123) $ 10,201 Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Impairment charges associated with these assets are included in Asset impairments, including loss on assets held for sale in the Consolidated Statement of Operations. The Company continues to monitor the recoverability of its finite-lived intangible assets and tests the intangible assets for impairment if indicators of impairment are present. Asset impairments, including loss on assets held for sale in 2020 included impairments of: (i) $96 million to reduce the carrying value of a business within the International Rx segment to its estimated fair value less costs to sell due to classifying the business as held for sale as discussed in Note 3, "ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE", (ii) $16 million in aggregate, due to decreases in forecasted sales of certain product lines, (iii) $1 million in aggregate, related to the discontinuance of certain product lines not aligned with the focus of the Company's core businesses and (iv) $1 million related to Acquired IPR&D not in service. Asset impairments, including loss on assets held for sale in 2019 included impairments of: (i) $58 million reflecting decreases in forecasted sales of certain product lines due to generic competition and other factors, (ii) $8 million related to assets being classified as held for sale, (iii) $5 million 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 (iv) $4 million related to Acquired IPR&D not in service. Asset impairments, including loss on assets held for sale in 2018 included impairments of: (i) $263 million reflecting decreases in forecasted sales for the Uceris ® Tablet product in the Company's Salix reporting unit due to generic competition, (ii) $85 million reflecting decreases in forecasted sales of certain other product lines due to generic competition, (iii) $132 million reflecting decreases in forecasted sales for the Arestin ® product in the Company's Dentistry reporting unit and other product lines due to changing market conditions, (iv) $55 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, (v) $28 million to Acquired IPR&D not in service related to a certain product and (vi) $5 million related to assets being classified as held for sale. The impairments to assets reclassified as held for sale were measured as the difference of the carrying value of these assets as compared to the estimated fair values of these assets less costs to sell determined using a discounted cash flow analysis which utilized Level 3 unobservable inputs. The other impairments and adjustments to finite-lived intangible assets were measured as the difference of the historical carrying value of these finite-lived assets as compared to the estimated fair value as determined using a discounted cash flow analysis using Level 3 unobservable inputs. 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 ("LOE"), 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. Management continually assesses the useful lives related to the Company's long-lived assets to reflect the most current assumptions. Effective September 12, 2018, the Company changed the estimated useful life of its Xifaxan ® -related intangible assets due to the positive impact of an agreement between the Company and Actavis Laboratories FL, Inc. ("Actavis") resolving the intellectual property litigation regarding Xifaxan ® tablets, 550 mg. Under the agreement, the parties agreed to dismiss all litigation related to Xifaxan ® tablets, 550 mg and all intellectual property protecting Xifaxan ® will remain intact and enforceable. As a result, the useful life of the Xifaxan ® -related intangible assets was extended from 2024 to January 1, 2028. As this change in the estimated useful life is a change in an accounting estimate, amortization expense is impacted prospectively. The change in the estimated useful life of the Xifaxan ® -related intangible assets resulted in a decrease to the Net loss attributable to Bausch Health Companies Inc. of $476 million, $473 million and $143 million, and a decrease to the Basic and Diluted Loss per share attributable to Bausch Health Companies Inc. of $1.34, $1.34 and $0.41 for the years 2020, 2019 and 2018, respectively. As of December 31, 2020, the net carrying value of the Xifaxan ® -related intangible assets was $3,771 million. Estimated amortization expense of finite-lived intangible assets for the five years ending December 31 and thereafter are as follows: (in millions) 2021 2022 2023 2024 2025 Thereafter Total Amortization $ 1,389 $ 1,204 $ 1,030 $ 905 $ 822 $ 1,390 $ 6,740 Goodwill The changes in the carrying amounts of goodwill during the years ended December 31, 2020, 2019 and 2018 were as follows: (in millions) Bausch + Branded Rx U.S. Diversified Products Salix Ortho Dermatologics Diversified Products Total Balance, January 1, 2018 $ 6,016 $ 6,631 $ 2,946 $ — $ — $ — $ 15,593 Impairment of the Salix and Ortho Dermatologics reporting units — (2,213) — — — — (2,213) Realignment of Global Solta reporting unit goodwill (82) 115 (33) — — — — Goodwill reclassified to assets held for sale and subsequently disposed (2) — — — — — (2) Realignment of segment goodwill — (4,533) (2,913) 3,156 1,267 3,023 — Impairment of the Dentistry reporting unit — — — — — (109) (109) Foreign exchange and other (127) — — — — — (127) Balance, December 31, 2018 5,805 — — 3,156 1,267 2,914 13,142 Acquisition of certain assets of Synergy — — — 3 — — 3 Goodwill reclassified to assets held for sale (Note 5) (18) — — — — — (18) Foreign exchange and other (1) — — — — — (1) Balance, December 31, 2019 5,786 — — 3,159 1,267 2,914 13,126 Assets held for sale reclassified to goodwill (Note 5) 18 — — — — — 18 Goodwill reclassified to assets held for sale (Note 3) (217) — — — — — (217) Foreign exchange and other 117 — — — — — 117 Balance, December 31, 2020 $ 5,704 $ — $ — $ 3,159 $ 1,267 $ 2,914 $ 13,044 Goodwill is not amortized but is tested for impairment at least annually on October 1st at the reporting unit level. A reporting unit is the same as, or one level below, an operating segment. The Company performs its annual impairment test by first assessing qualitative factors. Where the qualitative assessment suggests that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, a quantitative fair value test is performed for that reporting unit (Step 1). 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 a reporting unit 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. The quantitative fair value test is performed utilizing long-term growth rates and discount rates applied to the estimated cash flows in estimation of fair value. 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. To forecast a reporting unit's cash flows the Company 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 are 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 LOE 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. 2018 Adoption of New Accounting Guidance for Goodwill Impairment Testing Effective January 1, 2018, the Company elected to early adopt a new accounting standard which simplifies the subsequent measurement of goodwill by eliminating “Step 2” from the goodwill impairment test. Goodwill impairment is now measured as the amount by which a reporting unit's carrying value exceeds its fair value. Upon adopting the new standard, the Company tested goodwill for impairment and determined that the carrying value of the Salix reporting unit exceeded its fair value resulting in the Company recognizing a goodwill impairment of $1,970 million associated with the Salix reporting unit. The Company conducted its 2017 annual goodwill impairment test as of October 1, 2017 and determined that the fair value of the Ortho Dermatologics reporting unit exceeded its carrying value. However, at January 1, 2018, 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. In response to these adverse business indicators, as of January 1, 2018, 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. 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 former Bausch + Lomb/International segment in prior periods, are reported in a 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. 2018 Realignment of Segment Structure In the second quarter of 2018 through the fourth quarter of 2020, the Company operated 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 consisted 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. 2018 Annual Goodwill Impairment Test The Company conducted its 2018 annual goodwill impairment test as of October 1, 2018 and determined that the carrying value of the Dentistry reporting unit exceeded its fair value and, as a result, the Company recognized a goodwill impairment of $109 million, representing the full amount of goodwill for the Dentistry reporting unit. Changing market conditions such as: (i) an increasing competitive environment and (ii) increasing pricing pressures negatively impacted the reporting unit's operating results. The Company's remaining reporting units passed the goodwill impairment test as the estimated fair value of each reporting unit exceeded its carrying value at the date of testing and, therefore, there was no impairment to goodwill for any reporting unit other than the Dentistry reporting unit. In order to evaluate the sensitivity of its fair value calculations on the goodwill impairment test, the Company compared the carrying value of each reporting unit to its fair value as of October 1, 2018, the date of testing. As of October 1, 2018, the fair value of each reporting unit with associated goodwill exceeded its carrying value by more than 15%. 2019 2019 Annual Goodwill Impairment Test The Company conducted its annual goodwill impairment test as of October 1, 2019 by first assessing qualitative factors. Where the qualitative assessment suggested that it was more likely than not that the fair value of a reporting unit was less than its carrying amount, a quantitative fair value test was performed for that reporting unit. In each quantitative fair value test performed, the fair value was greater than the carrying value of the reporting unit. As a result, there was no impairment to the goodwill of any reporting unit. 2020 2020 Interim Goodwill Impairment Assessment In response to the COVID-19 pandemic, the Company has taken actions to protect its employees, customers and other stakeholders and mitigate the negative impact of the COVID-19 pandemic on its operations and operating results. These and additional actions can increase the costs of doing business during the pandemic and, in the periods that follow, may include the costs of idling and reopening certain facilities in affected areas. Further, social restrictions and other precautionary measures taken by customers, health care patients and consumers in response to the pandemic are expected to impact the timing and amount of revenues during the COVID-19 pandemic. Although the Company's revenues for 2020 were less than those forecasted on the date goodwill was last tested for impairment (October 1, 2019), there were no indications that these trends are materially related to developments other than the COVID-19 pandemic. The negative impacts of the COVID-19 pandemic on the global economy have led to significant volatility in the global equity markets. The Company has been able to continue its operations with limited disruptions and has assessed the potential impact that the COVID-19 pandemic is likely to have on its forecasted cash flows. In performing its assessment, the Company considered the possible affects and outcomes of the COVID-19 pandemic on, among other things, its supply chain, customers and distributors, employee base, product sustainability, research and development activities, product pipeline and consumer demand and related rebates and discounts and has made adjustments, although not considered to be material, to its long-term forecasts as of October 1, 2019 (the date goodwill was last tested for impairment) for these and other matters. After completing this assessment, although not completely insulated from the negative effects of the COVID-19 pandemic, the Company believes that its long-term forecasted cash flows, as adjusted for the possible outcome of the COVID-19 pandemic and other matters, do not indicate that the fair value of any reporting unit may be below its carrying value. During the pandemic, the public has been advised to engage in certain "social restrictions" such as: (i) remaining at home or shelter-in-place, (ii) limiting social interaction, (iii) closing non-essential businesses and (iv) postponing certain surgical and elective medical procedures in order to prioritize/conserve available health care resources. During the three months ended March 31, 2020, these factors negatively impacted, most notably, the revenues of the Company's Global Vision Care and Global Surgical businesses in Asia where the COVID-19 pandemic originated. Beginning in March 2020, and throughout most of the second quarter of 2020, the Company experienced steeper declines in these revenues and the revenues of other businesses as social restrictions expanded worldwide, particularly in the U.S. and Europe. Social restrictions negatively impacted the Company's revenues for contact lenses, intraocular lenses, medical devices, surgical systems and certain pre- and post-operative eye-medications of its Global Ophtho Rx business, medical aesthetics and therapeutic products of its Global Solta business, and certain branded pharmaceutical products of its Salix, Ortho Dermatologics and Dentistry businesses, as the offices of many health care providers were closed and certain surgeries and elective medical procedures were deferred. The Company's 2020 revenues were most negatively impacted during its second quarter by the social restrictions and other precautionary measures taken in response to the COVID-19 pandemic. However, as governments began lifting social restrictions, allowing offices of certain health care providers to reopen and certain surgeries and elective medical procedures to proceed, the negative trend in the revenues of certain businesses began to level off and stabilize prior to the third quarter. Revenues for the three months ended December 31, 2020 and 2019 were $2,213 million and $2,224 million, respectively, a decrease of $11 million. This decrease of less than 1% represents a continuing improving trend over the decreases in year-over-year revenues for the three month periods ended June 30, 2020 and September 30, 2020 of 23% and 3%, respectively. Presuming there continues to be increased availability of effective vaccines and any further resurgence of the COVID-19 virus and variant strains thereof do not have a material adverse impact on efforts to contain the COVID-19 virus, the Company anticipates an ongoing, gradual global recovery from the macroeconomic and health care impacts of the pandemic that occurred during the first-half of 2020 and anticipates that its affected businesses could return to pre-pandemic levels during 2021. However, the rates of recovery for each business will vary by geography and will be dependent upon, among other things, the availability and effectiveness of vaccines for the COVID-19 virus, government responses, rates of economic recovery, precautionary measures taken by patients and customers, the rate at which remaining social restrictions are lifted and once lifted, the presumption that social restrictions will not be materially reenacted in the event of a resurgence of the virus and other actions taken in response to the COVID-19 pandemic. On a quarterly basis, using its latest forecasts of cash flows, the Company gave consideration to the nature and timing of the expected revenue losses discussed above. No events occurred or circumstances changed during the period October 1, 2019 through September 30, 2020 that would indicate that the fair value of any reporting unit, other than the Ortho Dermatologics reporting unit, might be below its carrying value. The changes in the amounts and timing of revenues as presented in the Company's latest forecasts included a range of potential outcomes and, with the exception of the Ortho Dermatologics reporting unit as discussed below, were not substantial enough to materially adversely affect the recoverability of any of the associated reporting units’ assets and were not material enough to indicate that the fair values of those reporting units might be below their respective carrying values. However, based on the results of the October 1, 2019 annual goodwill impairment test, the Company continued to assess the performance of the Ortho Dermatologics reporting unit and the Neuro and Other reporting unit on a quarterly basis throughout 2020. 2020 Interim Goodwill Impairment Assessments - Neuro and Other As part of its quarterly qualitative interim assessments of the Neuro and Other reporting unit, management considered the totality of all relevant events or circumstances that could have affected the carrying amount or fair value of the reporting unit, including comparing the reporting unit’s operating results to the forecast used to test the goodwill of the Neuro and Other reporting unit as of October 1, 2019. Based on the qualitative assessments, management believed that the carrying value of Neuro and Other reporting unit did not exceed its fair value and, therefore, concluded a quantitative fair value test was not required for any quarterly period. 2020 Interim Goodwill Impairment Assessments and Testing - Ortho Dermatologics During the three months ended March 31, 2020, the operating results for the Ortho Dermatologics reporting unit were less than those forecasted at October 1, 2019 for that period. As part of its qualitative assessment as of March 31, 2020, the Company revised its forecasts for the year 2020, for among other matters, the lower than originally forecasted operating results for the three months ended March 31, 2020 and the range of potential impacts of the COVID-19 pandemic, including longer than expected launch cycles for certain new products. Management believed that the revisions to its forecasts for the year 2020 were indicators that there was less headroom as of March 31, 2020 as compared to the headroom calculated on the date goodwill was last tested for impairment (October 1, 2019). Therefore, a quantitative fair value test for the Ortho Dermatologics reporting unit was performed at March 31, 2020. Based on the quantitative fair value test, the fair value of the Ortho Dermatologics reporting unit continued to be greater than its carrying value and as a result there was no impairment to the goodwill of the reporting unit at March 31, 2020. During the three months ended June 30, 2020, the Company identified certain Ortho Dermatologics’ products that were experiencing longer launch cycles than originally anticipated due to the COVID-19 pandemic and, as a direct result, took actions to mitigate the impact of these matters, including right-sizing its Ortho Dermatologics’ sales force. As part of its qualitative assessment as of June 30, 2020, the Company revised its long-term forecasts for, among other matters, the decrease in forecasted revenues of the identified products, the reduction in sales force and related costs and a range of potential impacts of COVID-19 pandemic related matters. Management believed that these events were indicators that there was less headroom as of June 30, 2020 as compared to the headroom calculated on the date Ortho Dermatologics goodwill was last tested for impairment (March 31, 2020). Therefore, a quantitative fair value test for impairment to the goodwill of the Ortho Dermatologics reporting unit was performed at June 30, 2020. Based on the quantitative fair value test, the fair value of the Ortho Dermatologics reporting unit continued to be greater than its carrying value and as a result there was no impairment to the goodwill of the reporting unit at June 30, 2020. Management believed that based on its qualitative assessments as of September 30, 2020, it was more likely than not that the carrying amount of the Ortho Dermatologics reporting unit was less than its fair value and, therefore, concluded a quantitative fair value test was not required at September 30, 2020. 2020 Annual Goodwill Impairment Test The Company conducted its annual goodwill impairment test as of October 1, 2020 by first assessing qualitative factors. Based on its qualitative assessment as of October 1, 2020, management believed that, with the exception of the Ortho Dermatologics reporting unit, it was more likely than not that the carrying amounts of its reporting units were less than their respective fair values and therefore concluded a quantitative fair value test for those reporting units was not required. As part of its qualitative assessment of the Ortho Dermatologics reporting unit as of October 1, 2020, the Company considered, among other matters, a range of potential impacts of COVID-19 pandemic related matters and the limited headroom calculated on the date Ortho Dermatologics goodwill was last tested for impairment (June 30, 2020). The Company believed that these factors may suggest that it is more likely than not that the fair value of the Ortho Dermatologics reporting unit is less than its carrying amount, and therefore a quantitative fair value test was performed for the reporting unit. The Company performed a quantitative fair value test for the Ortho Dermatologics reporting unit as of October 1, 2020, utilizing a long-term growth rate of 2.0% and a range of discount rates between 9.5% and 9.75%, in estimation of the fair value of this reporting unit. Based on the quantitative fair value test, the fair value of the Ortho Dermatologics reporting unit was approximately 10% greater than its carrying value and as a result there was no impairment to the goodwill of the reporting unit. 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. Specifically, the Company continues to assess the performance of the Ortho Dermatologics reporting unit as compared to its respective projections and will perform qualitative interim assessments of the carrying value and fair value on a quarterly basis to determine if impairment testing of goodwill will be warranted. In addition, the Company expects to realign and begin managing its operations in a manner consistent with the organizational structure of the two separate entities as proposed by the Separation during the first quarter of 2021, and as a result the Company may need to perform an impairment test upon realignment of its operating segments. Accumulated goodwill impairment charges through December 31, 2020 were $3,711 million. 2021 Realignment of Segment Structure Commencing in the first quarter of 2021, the Company has realigned and has begun managing its operations in a manner consistent with the organizational structure of the two separate entities as proposed by the Separation. Under the new reporting structure, the Company has five reportable segments and has allocated goodwill to those segments as follows: (i) $5,395 million to the Bausch + Lomb segment, (ii) $3,159 million to the Salix segment, (iii) $887 million to the International Rx segment, (iv) $1,267 million to the Ortho Dermatologics segment and (v) $2,336 million to the Diversified Products segment.

ACCRUED AND OTHER CURRENT LIABI

ACCRUED AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
ACCRUED AND OTHER CURRENT LIABILITIES	ACCRUED AND OTHER CURRENT LIABILITIES Accrued and other current liabilities as of December 31, 2020 and 2019 consist of: (in millions) 2020 2019 Legal matters and related fees $ 1,672 $ 1,397 Product rebates 747 898 Product returns 575 691 Interest 341 305 Employee compensation and benefit costs 316 304 Income taxes payable 158 196 Other 767 720 $ 4,576 $ 4,511

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS Principal amounts of debt obligations and principal amounts of debt obligations net of premiums, discounts and issuance costs as of December 31, 2020 and 2019 consists of the following: 2020 2019 (in millions) Maturity Principal Amount Net of Premiums, Discounts and Issuance Costs Principal Amount Net of Premiums, Discounts and Issuance Costs Senior Secured Credit Facilities: 2023 Revolving Credit Facility June 2023 $ — $ — $ — $ — June 2025 Term Loan B Facility June 2025 3,298 3,220 3,869 3,768 November 2025 Term Loan B Facility November 2025 1,125 1,112 1,275 1,257 Senior Secured Notes: 6.50% Secured Notes March 2022 — — 1,250 1,242 7.00% Secured Notes March 2024 2,000 1,987 2,000 1,983 5.50% Secured Notes November 2025 1,750 1,736 1,750 1,733 5.75% Secured Notes August 2027 500 494 500 493 Senior Unsecured Notes: 5.50% March 2023 — — 402 400 5.875% May 2023 — — 1,448 1,441 4.50% euro-denominated debt May 2023 — — 1,682 1,674 6.125% April 2025 3,250 3,234 3,250 3,230 9.00% December 2025 1,500 1,478 1,500 1,473 9.25% April 2026 1,500 1,487 1,500 1,484 8.50% January 2027 1,750 1,755 1,750 1,756 7.00% January 2028 750 742 750 741 5.00% January 2028 1,250 1,236 1,250 1,234 6.25% February 2029 1,500 1,480 — — 5.00% February 2029 1,000 988 — — 7.25% May 2029 750 741 750 740 5.25% January 2030 1,250 1,235 1,250 1,234 5.25% February 2031 1,000 988 — — Other Various 12 12 12 12 Total long-term debt and other $ 24,185 23,925 $ 26,188 25,895 Less: Current portion of long-term debt and other — 1,234 Non-current portion of long-term debt $ 23,925 $ 24,661 Covenant Compliance The Senior Secured Credit Facilities (as defined below) and the indentures governing the 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. As of December 31, 2020, the amount available for restricted payments under the "builder basket" in the Company’s most restrictive indentures (as defined by those indentures) was approximately $13,000 million (although such availability is subject to the Company's compliance with a 2.00:1.00 fixed charge coverage ratio). The 2023 Revolving Credit Facility (as defined below) also contains 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. As of December 31, 2020, 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, 2018, the Third Amended Credit Agreement provided for: (i) a $1,500 million Revolving Credit Facility maturing on April 20, 2020 (the "2020 Revolving Credit Facility") and (ii) a $3,521 million term loan under the Company's Series F Tranche B Term Loan Facility maturing in 2022 (the “Series F Tranche B Term Loan Facility”). There was $250 million outstanding under the 2020 Revolving Credit Facility as of January 1, 2018. 2018 Activity During 2018, the Company repaid (net of additional borrowings) $571 million of outstanding debt under its Senior Secured Credit Facilities using cash on hand. 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”) which 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 a new seven year Tranche B Term Loan Facility of $4,565 million (the “June 2025 Term Loan B Facility”) borrowed by the Company’s subsidiary, Bausch Health Americas, Inc. ("BHA"). 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 BHA in an aggregate principal amount in excess of $1,000 million. Both the Company and BHA 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 the March 2020 Unsecured Notes (as defined below), (ii) $578 million of 6.75% Senior Unsecured Notes due August 2021 (the “August 2021 Unsecured Notes”), (iii) $550 million of 7.25% Senior Unsecured Notes due July 2022 (the “July 2022 Unsecured Notes”) and (iv) $146 million of 6.375% Senior Unsecured Notes due October 2020 (the March 2020 Unsecured Notes (as defined below), together with the August 2021 Unsecured Notes, the July 2022 Unsecured Notes and the 6.375% Senior Unsecured Notes due October 2020 the “June 2018 Unsecured Refinanced Debt”). On June 1, 2018, using the remaining net proceeds from the June 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 BHA and cash on hand, the Company prepaid the remaining Series F Tranche B Term Loan Facility and redeemed the June 2018 Unsecured Refinanced Debt at its 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 Facility with the June 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 Facility 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. On November 27, 2018, the Company entered into the First Incremental Amendment to the Restated Credit Agreement, which provided an additional seven year Tranche B Term Loan Facility of $1,500 million (the "November 2025 Term Loan B Facility") and used the net proceeds, and cash on hand, to repay $1,483 million of 7.50% Senior Unsecured Notes due July 2021 (the “July 2021 Unsecured Notes”) in a tender offer (the "November 2018 Refinancing Transactions"). On December 27, 2018, the Company redeemed, using cash on hand, the remaining outstanding principal amount of $17 million of the July 2021 Unsecured Notes. The repayment of the July 2021 Unsecured Notes was accounted for as an extinguishment of debt and the Company incurred a loss on extinguishment of debt of $43 million representing the difference between the amount paid to settle the extinguished debt and the extinguished debt’s carrying value. Payments made to the lenders and other third parties of $25 million associated with the issuance of the November 2025 Term Loan B Facility were capitalized and are being amortized as interest expense over the remaining term of the November 2025 Term Loan B Facility. 2019 Activity During 2019, the Company repaid (net of additional borrowings) $806 million of outstanding debt under its Senior Secured Credit Facilities using cash on hand. 2020 Activity During 2020, the Company repaid: (i) $471 million of outstanding debt under its Senior Secured Credit Facilities using cash on hand and (ii) $250 million of outstanding debt under its Senior Secured Credit Facilities as part of the May 2020 Refinancing Transactions (as defined below). As of December 31, 2020, the Company had no outstanding borrowings, $104 million of issued and outstanding letters of credit, and remaining availability of $1,121 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 highest 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 0.00% per annum), 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: (i) a prime rate determined by reference to the higher of: (a) 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 (b) 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 (ii) 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 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 June 2025 Term Loan B Facility and the November 2025 Term Loan B Facility are 2.00% and 1.75%, respectively, with respect to base rate and prime rate borrowings and 3.00% and 2.75%, respectively, with respect to eurocurrency rate and BA rate borrowings. As of December 31, 2020, the stated rates of interest on the Company’s borrowings under the June 2025 Term Loan B Facility and the November 2025 Term Loan B Facility were 3.15% and 2.90% per annum, respectively. The amortization rate for both the June 2025 Term Loan B Facility and the November 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 December 31, 2020, the aggregate remaining mandatory quarterly amortization payments for the Senior Secured Credit Facilities are $405 million through November 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 or prime rate borrowings and 2.50%-3.00% with respect to eurocurrency rate or BA rate borrowings. As of December 31, 2020, the stated rate of interest on the 2023 Revolving Credit Facility was 3.15% 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 Restated Credit Agreement permits the incurrence of incremental credit facility borrowings, up to the greater of $1,000 million and 28.5% of Consolidated Adjusted EBITDA (as defined in the Restated Credit Agreement), subject to customary terms and conditions, as well as the incurrence of additional incremental credit facility borrowings subject to 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 indentures 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 In March 2017, 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. Interest on these notes is payable semi-annually in arrears on each March 15 and September 15. The March 2022 Secured Notes were repaid in full as part of the May 2020 Refinancing Transactions (as defined below). The March 2024 Secured Notes are redeemable at the option of the Company, in whole or in part, at any time, at the redemption prices set forth in the indenture. 5.50% Senior Secured Notes due 2025 On October 17, 2017, the Company issued $1,000 million, and, on November 21, 2017, the Company issued $750 million, aggregate principal amount of 5.50% Senior Secured Notes due November 2025 (the “November 2025 Secured Notes”), in a private placement. Interest on the November 2025 Secured Notes is payable semi-annually in arrears on each May 1 and November 1. The November 2025 Secured Notes are redeemable at the option of the Company, in whole or in part, at any time, at the redemption prices set forth in the indenture. 5.75% Senior Secured Notes due 2027 - March 2019 Refinancing Transactions On March 8, 2019, BHA and the Company issued: (i) $1,000 million aggregate principal amount of January 2027 Unsecured Notes and (ii) $500 million aggregate principal amount of 5.75% Senior Secured Notes due August 2027 (the "August 2027 Secured Notes"), respectively, in a private placement. A portion of the proceeds and cash on hand were used to: (i) repurchase $584 million of 5.875% Senior Unsecured Notes due 2023 (the "May 2023 Unsecured Notes"), (ii) repurchase $518 million of 5.625% Senior Unsecured Notes due 2021 (the “December 2021 Unsecured Notes”), (iii) repurchase $216 million of 5.50% Senior Unsecured Notes due 2023 (the "March 2023 Unsecured Notes”) and (iv) pay all fees and expenses associated with these transactions (collectively, the “March 2019 Refinancing Transactions”). During April 2019, the Company redeemed $182 million of the December 2021 Unsecured Notes, representing the remaining outstanding principal balance of the December 2021 Unsecured Notes and completing the refinancing of $1,500 million of debt in connection with the March 2019 Refinancing Transactions. The March 2019 Refinancing Transactions were accounted for as an extinguishment of debt and the Company incurred a loss on extinguishment of debt of $8 million representing the difference between the amount paid to settle the extinguished debt and the extinguished debt’s carrying value. Interest on the August 2027 Secured Notes is payable semi-annually in arrears on each February 15 and August 15. The August 2027 Secured Notes are redeemable at the option of the Company, in whole or in part, at any time on or after August 15, 2022, at the redemption prices set forth in the indenture. The Company may redeem some or all of the August 2027 Secured Notes prior to August 15, 2022 at a price equal to 100% of the principal amount thereof plus a “make-whole” premium. Prior to August 15, 2022, the Company may redeem up to 40% of the aggregate principal amount of the August 2027 Secured Notes using the proceeds of certain equity offerings at the redemption price set forth in the indenture. 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 BHA are senior unsecured obligations of BHA and are jointly and severally guaranteed on a senior unsecured basis by the Company and each of its subsidiaries (other than BHA) that is a guarantor under the Senior Secured Credit Facilities. Future subsidiaries of the Company and BHA, 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. 5.625% Senior Unsecured Notes due 2021 On December 2, 2013, the Company issued $900 million aggregate principal amount of December 2021 Unsecured Notes in a private placement. The December 2021 Unsecured Notes accrued interest at the rate of 5.625% per year and were subsequently repaid in full: (i) using cash on hand of $200 million in December 2018 and (ii) as part of the March 2019 Refinancing Transactions. 5.50% Senior Unsecured Notes due 2023 On January 30, 2015, the Company issued $1,000 million aggregate principal amount of March 2023 Unsecured Notes in a private placement. The March 2023 Unsecured Notes accrued interest at the rate of 5.50% per year, payable semi-annually in arrears. On March 8, 2019 and May 23, 2019, the Company repurchased $216 million and $382 million of March 2023 Unsecured Notes as part of the March 2019 Refinancing Transactions and the May 2019 Refinancing Transactions (as defined below), respectively. Throughout 2020, the Company repurchased, in aggregate, $169 million of March 2023 Unsecured Notes using cash on hand. The Company repurchased the remaining outstanding balance of $233 million in December 2020 as part of the December 2020 Refinancing Transactions (as defined below). 5.375% Senior Unsecured Notes due 2020, 5.875% Senior Unsecured Notes due 2023, 4.50% Senior Unsecured Notes due 2023 and 6.125% Senior Unsecured Notes due 2025 On March 27, 2015, VRX Escrow Corp. (the "VRX Issuer"), a newly formed wholly owned subsidiary of the Company, issued $2,000 million aggregate principal amount of 5.375% Senior Unsecured Notes due 2020 (the "March 2020 Unsecured Notes"), $3,250 million aggregate principal amount of 5.875% Senior Unsecured Notes due 2023 (the "May 2023 Unsecured Notes"), €1,500 million aggregate principal amount of 4.50% Senior Unsecured Notes due 2023 (the "Euro Notes”) and $3,250 million aggregate principal amount of 6.125% Senior Unsecured Notes due 2025 (the "April 2025 Unsecured Notes" and, together with the March 2020 Unsecured Notes, the May 2023 Unsecured Notes and the Euro Notes, the "VRX Notes") in a private placement. The March 2020 Unsecured Notes accrued interest at the rate of 5.375% per year and were repaid in full as part of: (i) the December 2017 Refinancing Transactions (as defined below), (ii) the March 2018 Refinancing Transactions (as defined below) and (iii) the June 2018 Refinancing Transactions. The May 2023 Unsecured Notes and the Euro Notes accrued interest at the rate of 5.875% and 4.50% per year, respectively and were each repaid in full as of December 31, 2020, as discussed below. The April 2025 Unsecured Notes accrue interest at the rate of 6.125% per year, payable semi-annually in arrears. As part of the June 2018 Refinancing Transactions, the Company repaid the remaining outstanding principal amounts of the March 2020 Unsecured Notes. On March 8, 2019 and May 23, 2019, the Company repurchased $584 million and $1,118 million of May 2023 Unsecured Notes as part of the March 2019 Refinancing Transactions and the May 2019 Refinancing Transactions (as defined below), respectively, and on October 3, 2019, the Company repaid an additional $100 million of May 2023 Unsecured Notes using cash on hand. On January 16, 2020, the Company redeemed $1,240 million aggregate principal amount of the May 2023 Unsecured Notes as part of the December 2019 Financing and Refinancing Transactions (as defined below). Throughout 2020, the Company repaid, in aggregate, $208 million of the May 2023 Unsecured Notes, with the May 2023 Unsecured Notes having been fully repaid during November 2020. The Company may redeem all or a portion of the April 2025 Unsecured Notes at the redemption prices set forth in the applicable indenture, plus accrued and unpaid interest to the date of redemption. On December 3, 2020, the Company redeemed the remaining outstanding balance of the Euro Notes as part of the December 2020 Refinancing Transactions, as defined below. 9.00% Senior Unsecured Notes due 2025 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 net proceeds of which were used to repurchase $1,500 million in aggregate principal amount of previously outstanding senior unsecured notes (the "December 2017 Refinancing Transactions"). The related fees and expenses were paid using cash on hand. 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. The Company may redeem all or a portion of the December 2025 Unsecured Notes at any time prior to December 15, 2021, 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 December 15, 2020, the Company may redeem up to 40% of the aggregate principal amount of the outstanding December 2025 Unsecured Notes with the net proceeds of certain equity offerings at the redemption price set forth in the December 2025 Unsecured Notes indenture. On or after December 15, 2021, the Company may redeem all or a portion of the December 2025 Unsecured Notes at the applicable redemption prices set forth in the December 2025 Unsecured Notes indenture, plus accrued and unpaid interest to the date of redemption. 9.25% Senior Unsecured Notes due 2026 - March 2018 Refinancing Transactions On March 26, 2018, BHA 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 net proceeds of which, and cash on hand, were used to repurchase $1,500 million in aggregate principal amount of unsecured notes. All fees and expenses associated with these transactions were paid with cash on hand (collectively, the “March 2018 Refinancing Transactions”). The March 2018 Refinancing Transactions were accounted for as an extinguishment of debt and the Company incurred a loss on extinguishment of debt of $26 million representing the difference between the amount paid to settle the extinguished debt and the extinguished debt’s carrying value. 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. BHA 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, BHA 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, BHA 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 and March 2019 Refinancing Transactions As part of the June 2018 Refinancing Transactions, BHA issued $750 million in aggregate principal amount of January 2027 Unsecured Notes in a private placement, the net proceeds of which, when combined with the remaining net proceeds from the June 2025 Term Loan B Facility and cash on hand, were used 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. As part of the March 2019 Refinancing Transactions described above, BHA issued $1,000 million aggregate principal amount of 8.50% Senior Unsecured Notes due January 2027. These are additional notes and form part of the same series as BHA’s existing January 2027 Unsecured Notes. BHA 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, BHA 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, BHA 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. 7.00% Senior Unsecured Notes due 2028 and 7.25% Senior Unsecured Notes due 2029 - May 2019 Refinancing Transactions On May 23, 2019, the Company issued: (i) $750 million aggregate principal amount of 7.00% Senior Unsecured Notes due January 2028 (the "7.00% January 2028 Unsecured Notes") and (ii) $750 million aggregate principal amount of 7.25% Senior Unsecured Notes due May 2029 (the "May 2029 Unsecured Notes"), respectively, in a private placement. The proceeds and cash on hand were used to: (i) repurchase $1,118 million of May 2023 Unsecured Notes, (ii) repurchase $382 million of March 2023 Unsecured Notes and (iii) pay all fees and expenses associated with these transactions (collectively, the “May 2019 Refinancing Transactions”). The May 2019 Refinancing Transactions were accounted for as an extinguishment of debt and the Company incurred a loss on extinguishment of debt of $32 million representing the difference between the amount paid to settle the extinguished deb

PENSION AND POSTRETIREMENT EMPL

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS	PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS The Company has defined benefit plans and a participatory defined benefit postretirement medical and life insurance plan, which covers a closed grandfathered group of legacy Bausch & Lomb Holdings Incorporated (‘‘B&L’’) U.S. employees and employees in certain other countries. The U.S. defined benefit accruals were frozen as of December 31, 2004 and benefits that were earned up to December 31, 2004 were preserved. Participants continue to earn interest credits on their cash balance at an interest crediting rate that is equal to the greater of: (i) the average annual yield on 10-year treasury bonds in effect for the November preceding the plan year or (ii) 4.50%. The most significant non-U.S. plans are two defined benefit plans in Ireland. In 2011, both Ireland defined benefit plans were closed to future service benefit accruals; however, additional accruals related to annual salary increases continued. In December 2014, one of the Ireland defined benefit plans was amended effective August 2014 to eliminate future benefit accruals related to salary increases. All of the pension benefits accrued through the plan amendment date were preserved. As a result of the plan amendment, there are no active plan participants accruing benefits under the amended Ireland defined benefit plan. The U.S. postretirement benefit plan was amended effective January 1, 2005 to eliminate employer contributions after age 65 for participants who did not meet the minimum requirements of age and service on that date. The employer contributions for medical and prescription drug benefits for participants retiring after March 1, 1989 were frozen effective January 1, 2010. Effective January 1, 2014, the Company no longer offers medical and life insurance coverage to new retirees. In addition to the B&L benefit plans, outside of the U.S., a limited group of the Company's employees are covered by defined benefit pension plans. The Company uses December 31 as the year-end measurement date for all of its defined benefit pension plans and the postretirement benefit plan. Accounting for Pension Benefit Plans and Postretirement Benefit Plan The Company recognizes in its Consolidated Balance Sheets an asset or liability equal to the over- or under-funded benefit obligation of each defined benefit pension plan and postretirement benefit plan. Actuarial gains or losses and prior service costs or credits that arise during the period but are not recognized as components of net periodic benefit cost are recognized, net of tax, as a component of Other comprehensive income (loss). The amounts included in Accumulated other comprehensive loss as of December 31, 2020 and 2019 were as follows: Pension Benefit Plans U.S. Postretirement U.S. Plan Non-U.S. Plans (in millions) 2020 2019 2020 2019 2020 2019 Unrecognized actuarial losses $ (21) $ (20) $ (76) $ (65) $ (3) $ (2) Unrecognized prior service credits $ — $ — $ 27 $ 26 $ 11 $ 14 Net Periodic (Benefit) Cost The following table provides the components of net periodic (benefit) cost for the Company’s defined benefit pension plans and postretirement benefit plan in 2020, 2019 and 2018: Pension Benefit Plans U.S. Postretirement U.S. Plan Non-U.S. Plans (in millions) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Service cost $ 1 $ 2 $ 2 $ 3 $ 3 $ 3 $ — $ — $ — Interest cost 6 8 7 4 5 5 1 1 1 Expected return on plan assets (13) (13) (15) (5) (5) (5) — — — Amortization of net loss — — — 2 1 1 — — — Amortization of prior service credit — — — (1) (1) (1) (3) (2) (2) Other — — — — 1 — — — — Net periodic (benefit) cost $ (6) $ (3) $ (6) $ 3 $ 4 $ 3 $ (2) $ (1) $ (1) Benefit Obligation, Change in Plan Assets and Funded Status The table below presents components of the change in projected benefit obligation, change in plan assets and funded status for 2020 and 2019: Pension Benefit Plans U.S. Postretirement U.S. Plan Non-U.S. Plans (in millions) 2020 2019 2020 2019 2020 2019 Change in Projected Benefit Obligation Projected benefit obligation, beginning of year $ 227 $ 214 $ 259 $ 235 $ 41 $ 41 Service cost 1 2 3 3 — — Interest cost 6 8 4 5 1 1 Employee contributions — — — — — 1 Settlements — — (3) (2) — — Benefits paid (15) (15) (4) (8) (4) (4) Actuarial losses 17 18 13 30 1 2 Currency translation adjustments — — 22 (4) — — Projected benefit obligation, end of year 236 227 294 259 39 41 Change in Plan Assets Fair value of plan assets, beginning of year 216 187 161 147 — — Actual return on plan assets 29 42 11 17 — — Employee contributions — — — — — 1 Company contributions 1 2 8 10 4 3 Settlements — — (2) (2) — — Benefits paid (15) (15) (4) (8) (4) (4) Currency translation adjustments — — 15 (3) — — Fair value of plan assets, end of year 231 216 189 161 — — Funded status, end of year $ (5) $ (11) $ (105) $ (98) $ (39) $ (41) Recognized as: Accrued and other current liabilities $ — $ — $ (2) $ (2) $ (4) $ (5) Other non-current liabilities $ (5) $ (11) $ (103) $ (96) $ (35) $ (36) A number of the Company’s pension benefit plans were underfunded as of December 31, 2020 and 2019, having accumulated benefit obligations exceeding the fair value of plan assets. Information for the underfunded pension benefit plans is as follows: U.S. Plan Non-U.S. Plans (in millions) 2020 2019 2020 2019 Projected benefit obligation $ 236 $ 227 $ 294 $ 259 Accumulated benefit obligation 236 227 286 251 Fair value of plan assets 231 216 189 161 The Company’s policy for funding its pension benefit plans is to make contributions that meet or exceed the minimum statutory funding requirements. These contributions are determined based upon recommendations made by the actuary under accepted actuarial principles. In 2021, the Company expects to contribute $0, $10 million and $4 million to the U.S. pension benefit plan, the non-U.S. pension benefit plans and the U.S. postretirement benefit plan, respectively. The Company plans to use postretirement benefit plan assets and cash on hand, as necessary, to fund the U.S. postretirement benefit plan benefit payments in 2021. Estimated Future Benefit Payments Future benefit payments over the next 10 years for the pension benefit plans and the postretirement benefit plan, which reflect expected future service, as appropriate, are expected to be paid as follows: (in millions) Pension Benefit Plans U.S. Postretirement U.S. Plan Non-U.S. Plans 2021 $ 14 $ 6 $ 4 2022 19 6 4 2023 17 7 4 2024 17 7 3 2025 17 7 3 2026-2030 75 42 12 Assumptions The weighted-average assumptions used to determine net periodic benefit costs and benefit obligations for 2020, 2019 and 2018 were as follows: Pension Benefit Plans U.S. Postretirement Benefit Plan 2020 2019 2018 2020 2019 2018 For Determining Net Periodic (Benefit) Cost U.S. Plans: Discount rate 3.16 % 4.25 % 3.56 % 3.04 % 4.16 % 3.47 % Expected rate of return on plan assets 6.25 % 7.25 % 7.50 % — — — Rate of compensation increase — — — — — — Interest crediting rate 5.00 % 5.00 % 5.00 % Non-U.S. Plans: Discount rate 1.68 % 2.39 % 2.29 % Expected rate of return on plan assets 2.98 % 3.46 % 3.66 % Rate of compensation increase 3.05 % 2.89 % 2.87 % Interest crediting rate — — — Pension Benefit Plans U.S. Postretirement Benefit Plan 2020 2019 2020 2019 For Determining Benefit Obligation U.S. Plans: Discount rate 2.25 % 3.16 % 2.09 % 3.04 % Rate of compensation increase — — — — Interest crediting rate 4.75 % 5.00 % Non-U.S. Plans: Discount rate 1.37 % 1.68 % Rate of compensation increase 2.60 % 3.05 % Interest crediting rate — — The expected long-term rate of return on plan assets was developed based on a capital markets model that uses expected asset class returns, variance and correlation assumptions. The expected asset class returns were developed starting with current Treasury (for the U.S. pension plan) or Eurozone (for the Ireland pension plans) government yields and then adding corporate bond spreads and equity risk premiums to develop the return expectations for each asset class. The expected asset class returns are forward-looking. The variance and correlation assumptions are also forward-looking. They take into account historical relationships, but are adjusted to reflect expected capital market trends. The expected return on plan assets for the Company’s U.S. pension plan for 2020 was 6.25%. The expected return on plan assets for the Company’s Ireland pension plans was 3.00% for 2020. The discount rate used to determine benefit obligations represents the current rate at which the benefit plan liabilities could be effectively settled considering the timing of expected payments for plan participants. The 2021 expected rate of return for the U.S. pension benefit plan will be 5.00%. The 2021 expected rate of return for the Ireland pension benefit plans will be 2.75%. Pension Benefit Plans Assets Pension benefit plan assets are invested in several asset categories. The following presents the actual asset allocation as of December 31, 2020 and 2019: 2020 2019 U.S. Plan Cash and cash equivalents 1 % 1 % Equity securities 39 % 55 % Fixed income securities 60 % 44 % Non-U.S. Plans Cash and cash equivalents 3 % 6 % Equity securities 28 % 25 % Fixed income securities 58 % 64 % Other 11 % 6 % The investment strategy underlying pension plan asset allocation is to manage the assets of the plan to provide for the non-current liabilities while maintaining sufficient liquidity to pay current benefits. Pension plan assets are diversified to protect against large investment losses and to reduce the probability of excessive performance volatility. Diversification of assets is achieved by allocating funds to various asset classes and investment styles within asset classes, and retaining investment management firm(s) with complementary investment philosophies, styles and approaches. The Company’s pension plan assets are managed by outside investment managers using a total return investment approach, whereby a mix of equity and debt securities investments are used to maximize the long-term rate of return on plan assets. A significant portion of the assets of the U.S. and Ireland pension plans have been invested in equity securities, as equity portfolios have historically provided higher returns than debt and other asset classes over extended time horizons. Correspondingly, equity investments also entail greater risks than other investments. Equity risks are balanced by investing a significant portion of plan assets in broadly diversified fixed income securities. Fair Value of Plan Assets The Company measured the fair value of plan assets based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 5, "FAIR VALUE MEASUREMENTS" for details on the Company's fair value measurements based on a three-tier hierarchy. The table below presents total plan assets by investment category as of December 31, 2020 and 2019 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value. There were no transfers between Level 1 and Level 2 during 2020 and 2019. Pension Benefit Plans - U.S. Plans December 31, 2020 December 31, 2019 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 2 $ — $ — $ 2 $ 1 $ — $ — $ 1 Commingled funds: Equity securities: U.S. broad market — 48 — 48 — 64 — 64 Emerging markets — 9 — 9 — 15 — 15 Worldwide developed markets — 20 — 20 — 26 — 26 Other assets — 14 — 14 — 15 — 15 Fixed income securities: Investment grade — 138 — 138 — 95 — 95 $ 2 $ 229 $ — $ 231 $ 1 $ 215 $ — $ 216 Pension Benefit Plans - Non-U.S. Plans December 31, 2020 December 31, 2019 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents $ — $ 5 $ — $ 5 $ — $ 9 $ — $ 9 Commingled funds: Equity securities: Emerging markets — 1 — 1 — 2 — 2 Worldwide developed markets — 51 — 51 — 38 — 38 Fixed income securities: Investment grade — 6 — 6 — 9 — 9 Global high yield — 1 — 1 — 3 — 3 Government bond funds 1 102 — 103 1 90 — 91 Other assets — 20 2 22 — 8 1 9 $ 1 $ 186 $ 2 $ 189 $ 1 $ 159 $ 1 $ 161 Cash equivalents consisted primarily of term deposits and money market instruments. The fair value of the term deposits approximates their carrying amounts due to their short term maturities. The money market instruments also have short maturities and are valued using a market approach based on the quoted market prices of identical instruments. Commingled funds are not publicly traded. The underlying assets in these funds are publicly traded on the exchanges and have readily available price quotes. The Ireland pension plans held approximately 96% and 95% of the non-U.S. commingled funds in 2020 and 2019, respectively. The commingled funds held by the U.S. and Ireland pension plans are primarily invested in index funds. The underlying assets in the fixed income funds are generally valued using the net asset value per fund share, which is derived using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades. Defined Contribution Plans The Company sponsors defined contribution plans in the U.S., Ireland and certain other countries. Under these plans, employees are allowed to contribute a portion of their salaries to the plans, and the Company matches a portion of the employee contributions. The Company contributed $43 million, $41 million and $36 million to these plans during the years ended December 31, 2020, 2019 and 2018, respectively.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	LEASES Right-of-use assets and lease liabilities associated with the Company's operating leases are included in the Consolidated Balance Sheet as of December 31, 2020 and 2019 as follows: (in millions) 2020 2019 Right-of-use assets included in: Other non-current assets $ 259 $ 271 Lease liabilities included in: Accrued and other current liabilities $ 52 $ 53 Other non-current liabilities 227 240 Total lease liabilities $ 279 $ 293 As of December 31, 2020 and 2019, the Company's finance leases were not material and for the years 2020 and 2019 sub-lease income and short-term lease expense were not material. Lease expense for the years 2020 and 2019 include: (in millions) 2020 2019 Operating lease costs $ 65 $ 62 Variable operating lease costs $ 12 $ 16 Upon adoption of the new standard for accounting for leases on January 1, 2019, the Company elected the modified retrospective approach without revising prior periods. Rent expense related to operating lease agreements was $92 million for 2018. Other information related to operating leases for 2020 and 2019 is as follows: (dollars in millions) 2020 2019 Cash paid from operating cash flows for amounts included in the measurement of lease liabilities $ 74 $ 73 Right-of-use assets obtained in exchange for new operating lease liabilities $ 39 $ 47 Weighted-average remaining lease term 7.6 years 8.2 years Weighted-average discount rate 6.2 % 6.2 % Right-of-use assets obtained in exchange for new operating lease liabilities during the year ended December 31, 2019 of $47 million in the table above does not include $282 million of right-of-use assets recognized upon adoption of the new standard for accounting for leases on January 1, 2019. See Note 2, "SIGNIFICANT ACCOUNTING POLICIES" for further detail regarding the impact of adoption. As of December 31, 2020, future payments under noncancelable operating leases for each of the five succeeding years ending December 31 and thereafter are as follows: (in millions) 2021 $ 68 2022 53 2023 45 2024 35 2025 34 Thereafter 121 Total 356 Less: Imputed interest 77 Present value of remaining lease payments 279 Less: Current portion 52 Non-current portion $ 227

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION In May 2014, shareholders approved the Company’s 2014 Omnibus Incentive Plan (the “2014 Plan”) which replaced the Company’s 2011 Omnibus Incentive Plan (the “2011 Plan”) for future equity awards granted by the Company. The Company transferred the common shares available under the 2011 Plan to the 2014 Plan. The maximum number of common shares that may be issued to participants under the 2014 Plan was equal to 18,000,000 common shares, plus the number of common shares under the 2011 Plan reserved but unissued and not underlying outstanding awards and the number of common shares becoming available for reuse after awards are terminated, forfeited, cancelled, exchanged or surrendered under the 2011 Plan and the Company’s 2007 Equity Compensation Plan. The Company registered 20,000,000 common shares of common stock for issuance under the 2014 Plan. 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. Effective April 28, 2020, the Company further amended and restated the Amended and Restated 2014 Plan (the “Further Amended and Restated 2014 Plan”). The Further Amended and Restated 2014 Plan includes the following amendments: (i) the number of common shares authorized for issuance under the Further Amended and Restated 2014 Plan has been increased by an additional 13,500,000 common shares, as approved by the requisite number of shareholders at the Company’s annual general meeting held on April 28, 2020, (ii) the exercise price of stock options and share appreciation rights (“SARs”) will be based on the closing price of the underlying common shares on the date such stock options or SARs are granted (rather than on the last preceding trading date), (iii) additional provisions clarifying that: (a) stock options and SARs will not be eligible for the payment of dividend or dividend equivalents and (b) the Talent and Compensation Committee of the Board of Directors of the Company cannot, without shareholder approval, seek to effect any repricing of any previously granted “underwater” stock option or SAR and (iv) other housekeeping and/or clerical changes. Approximately 16,902,000 common shares were available for future grants as of December 31, 2020. The Company uses reserved and unissued common shares to satisfy its obligation under its share-based compensation plans. The Company has a long-term incentive program with the objective of aligning the share-based awards granted to senior management with the Company’s focus on improving its tangible capital usage and allocation, while maintaining focus on improving total shareholder return over the long-term. The share-based awards granted under this long-term incentive program consist of time-based stock options, time-based RSUs and performance-based RSUs. Performance-based RSUs are comprised of: (i) awards that vest upon achievement of certain share price appreciation conditions that are based on total shareholder return (“TSR”) and (ii) awards that vest upon attainment of certain performance targets that are based on the Company’s return on tangible capital (“ROTC”). The components and classification of share-based compensation expense related to stock options and RSUs for the years 2020, 2019 and 2018 were as follows: (in millions) 2020 2019 2018 Stock options $ 15 $ 21 $ 23 RSUs 90 81 64 Share-based compensation expense $ 105 $ 102 $ 87 Research and development expenses $ 11 $ 9 $ 9 Selling, general and administrative expenses 94 93 78 Share-based compensation expense $ 105 $ 102 $ 87 Stock Options Stock options granted under the 2011 Plan and the Amended and Restated 2014 Plan generally expire on the fifth or tenth anniversary of the grant date. The exercise price of any stock option granted under the 2011 Plan and the Amended and Restated 2014 Plan will not be less than the closing price per common share on the date of grant. Stock options generally vest 33% and 25% each year over a three-year and four-year period, respectively, on the anniversary of the date of grant. The fair values of all stock options granted for the years 2020, 2019 and 2018 were estimated as of the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: 2020 2019 2018 Expected stock option life (years) 3.0 3.0 3.0 Expected volatility 38.7 % 46.5 % 54.0 % Risk-free interest rate 1.2 % 2.5 % 2.7 % Expected dividend yield — % — % — % The expected stock option life was determined based on historical exercise and forfeiture patterns. The expected volatility was determined based on implied volatility in the market traded options of the Company’s common stock. The risk-free interest rate was determined based on the rate at the time of grant for zero-coupon U.S. government bonds with maturity dates equal to the expected life of the stock option. The expected dividend yield was determined based on the stock option’s exercise price and expected annual dividend rate at the time of grant. The Black-Scholes option-pricing model used by the Company to calculate stock option values was developed to estimate the fair value of freely tradeable, fully transferable stock options without vesting restrictions, which significantly differ from the Company’s stock option awards. This model also requires highly subjective assumptions, including future stock price volatility and expected time until exercise, which greatly affect the calculated values. The following table summarizes stock option activity during 2020: (in millions, except per share amounts) Options Weighted- Weighted- Aggregate Outstanding, January 1, 2020 7.1 $ 26.99 Granted 2.3 $ 24.74 Exercised (0.4) $ 14.65 Expired or forfeited (0.3) $ 72.40 Outstanding, December 31, 2020 8.7 $ 25.59 7.2 $ 14 Vested and expected to vest, December 31, 2020 8.2 $ 25.73 7.1 $ 14 Vested and exercisable, December 31, 2020 4.8 $ 27.74 6.0 $ 11 The weighted-average fair values of all stock options granted in 2020, 2019 and 2018 were $6.60, $8.45 and $7.83, respectively. The total intrinsic values of stock options exercised in 2020, 2019 and 2018 were $2 million, $3 million and $1 million, respectively. Proceeds received on the exercise of stock options in 2020, 2019 and 2018 were $5 million, $5 million and $2 million, respectively. As of December 31, 2020, the total remaining unrecognized compensation expense related to non-vested stock options amounted to $10 million, which will be amortized over the weighted-average remaining requisite service period of approximately 1.5 years. The total fair value of stock options vested in 2020, 2019 and 2018 were $15 million, $18 million and $17 million, respectively. RSUs RSUs generally vest on the first or third anniversary date from the date of grant or 33% a year over a three-year period. Annual RSUs granted to non-management directors vest immediately prior to the next Annual Meeting of Shareholders. Pursuant to the applicable unit agreement, certain RSUs may be subject to the attainment of any applicable performance goals specified by the Board of Directors. If the vesting of the RSUs is conditional upon the attainment of performance goals, any RSUs that do not vest as a result of a determination that the prescribed performance goals failed to be attained will be forfeited immediately upon such determination. RSUs are credited with dividend equivalents, in the form of additional RSUs, when dividends are paid on the Company’s common shares. Such additional RSUs will have the same vesting dates and will vest under the same terms as the RSUs in respect of which such additional RSUs are credited. To the extent provided for in a RSU agreement, the Company may, in lieu of all or a portion of the common shares which would otherwise be provided to a holder, elect to pay a cash amount equivalent to the market price of the Company’s common shares on the vesting date for each vested RSU. The amount of cash payment will be determined based on the average market price of the Company’s common shares on the vesting date. The Company’s current intent is to settle vested RSUs through the issuance of common shares. Time-Based RSUs Each vested time-based RSU represents the right of a holder to receive one of the Company’s common shares. The fair value of each RSU granted is estimated based on the trading price of the Company’s common shares on the date of grant. The following table summarizes non-vested time-based RSU activity during 2020: (in millions, except per share amounts) Time-Based Weighted- Non-vested, January 1, 2020 6.1 $ 20.54 Granted 3.3 $ 21.92 Vested (3.4) $ 19.37 Forfeited (0.3) $ 21.78 Non-vested, December 31, 2020 5.7 $ 21.98 As of December 31, 2020, the total remaining unrecognized compensation expense related to non-vested time-based RSUs amounted to $55 million, which will be amortized over the weighted-average remaining requisite service period of approximately 1.5 years. The total fair value of time-based RSUs vested in 2020, 2019 and 2018 were $66 million, $34 million and $30 million, respectively. Performance-Based RSUs Each vested performance-based RSU represents the right of a holder to receive a number of the Company’s common shares up to a specified maximum. Performance-based RSUs vest upon achievement of certain share price appreciation conditions or attainment of certain performance targets. If the Company’s performance is below a specified performance level, no common shares will be paid. The fair value of each TSR performance-based RSU granted during 2020, 2019 and 2018 was estimated using a Monte Carlo Simulation model, which utilizes multiple input variables to estimate the probability that the performance condition will be achieved. The fair value of the ROTC performance-based RSUs is estimated based on the trading price of the Company’s common shares on the date of grant. Expense recognized for the ROTC performance-based RSUs in each reporting period reflects the Company’s latest estimate of the number of ROTC performance-based RSUs that are expected to vest. If the ROTC performance-based RSUs do not ultimately vest due to the ROTC targets not being met, no compensation expense is recognized and any previously recognized compensation expense is reversed. The fair values of TSR performance-based RSUs granted during 2020, 2019 and 2018 were estimated with the following assumptions: 2020 2019 2018 Contractual term (years) 3.0 3.0 3.0 Expected Company share volatility 38.6% 46.5% 54.2% Risk-free interest rate 1.2% 2.5% 2.7% The expected company share volatility was determined based on implied volatility in the market traded options of the Company’s common stock. The risk-free interest rate was determined based on the rate at the time of grant for zero-coupon U.S. government bonds with maturity dates equal to the contractual term of the performance-based RSUs. The following table summarizes non-vested performance-based RSU activity during 2020: (in millions, except per share amounts) Performance-based Weighted- Non-vested, January 1, 2020 2.0 $ 25.80 Granted 0.9 $ 26.61 Vested (0.6) $ 19.02 Non-vested, December 31, 2020 2.3 $ 28.10 During 2020, the Company granted approximately 897,000 performance-based RSUs, consisting of approximately 425,000 units of TSR performance-based RSUs with an average grant date fair value of $26.13 per RSU and approximately 472,000 units of ROTC performance-based RSUs with a weighted-average grant date fair value of $27.05 per RSU. As of December 31, 2020, the total remaining unrecognized compensation expense related to non-vested performance-based RSUs amounted to $22 million, which will be amortized over the weighted-average remaining requisite service period of approximately 1.4 years. A maximum of approximately 3,729,000 common shares could be issued upon vesting of the performance-based RSUs outstanding as of December 31, 2020. In connection with the 2018 grant of long-term incentive awards with an aggregate value of $10 million, approximately 933,000 performance-based RSUs received by the Company’s Chief Executive Officer ("CEO") upon his hire in 2016 were canceled, and the shares underlying those performance-based RSUs were permanently retired and are not available for future grants under the 2014 Plan. The CEO's long-term incentive award was 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.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss as of December 31, 2020 and 2019 consists of: (in millions) 2020 2019 Foreign currency translation adjustment $ (2,077) $ (2,046) Pension adjustment, net of tax (56) (40) Accumulated other comprehensive loss $ (2,133) $ (2,086) Income taxes are not provided for foreign currency translation adjustments arising on the translation of the Company’s operations having a functional currency other than the U.S. dollar, except to the extent of translation adjustments related to the Company’s retained earnings for foreign jurisdictions in which the Company is not considered to be permanently reinvested.

RESEARCH AND DEVELOPMENT

RESEARCH AND DEVELOPMENT	12 Months Ended
	Dec. 31, 2020
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 for the years 2020, 2019 and 2018 consists of: (in millions) 2020 2019 2018 Product related research and development $ 420 $ 434 $ 376 Quality assurance 32 37 37 Research and development $ 452 $ 471 $ 413

OTHER EXPENSE (INCOME), NET

OTHER EXPENSE (INCOME), NET	12 Months Ended
	Dec. 31, 2020
Other Income and Expenses [Abstract]
OTHER EXPENSE (INCOME), NET	OTHER EXPENSE (INCOME), NET Other expense (income), net for the years 2020, 2019 and 2018 consists of: (in millions) 2020 2019 2018 Litigation and other matters $ 422 $ 1,401 $ (27) Acquired in-process research and development costs 32 41 1 Net (gain) loss on sales of assets (1) (31) 6 Acquisition-related costs — 8 1 Other, net 1 (5) (1) Other expense (income), net $ 454 $ 1,414 $ (20) In 2020, Litigation and other matters of $422 million includes net charges related to the U.S. Securities Litigation, the SEC Investigation and the Canadian Securities Litigation and related opt-outs. In 2020, Litigation and other matters also includes an insurance recovery related to a certain litigation matter. In 2019, Litigation and other matters of $1,401 million includes the settlement of a legacy U.S. securities class action matter (which is subject to an objector’s appeal of the final court approval). In 2018, Litigation and other matters of $27 million includes a favorable adjustment of $40 million related to the Salix legacy litigation matter. These matters and other significant matters are discussed in further detail in Note 20, "LEGAL PROCEEDINGS". In 2020 and 2019, Acquired in-process research and development costs of $32 million and $41 million, primarily consist of costs associated with the upfront payments to enter into certain exclusive licensing agreements. In 2019, Net (gain) loss on sales of assets includes $20 million related to the achievement of a milestone related to a certain product.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of Loss before benefit from income taxes for 2020, 2019 and 2018 consist of: (in millions) 2020 2019 2018 Domestic $ (410) $ (2,396) $ (1,475) Foreign (524) 559 (2,679) $ (934) $ (1,837) $ (4,154) The components of Benefit from income taxes for 2020, 2019 and 2018 consist of: (in millions) 2020 2019 2018 Current: Domestic $ (8) $ (12) $ — Foreign (216) (116) (327) (224) (128) (327) Deferred: Domestic 9 (5) 17 Foreign 590 187 320 599 182 337 $ 375 $ 54 $ 10 The Benefit from income taxes differs from the expected amount calculated by applying the Company’s Canadian statutory rate of 26.9% to Loss before benefit from income taxes for 2020, 2019 and 2018 as follows: (in millions) 2020 2019 2018 Loss before benefit from income taxes $ (934) $ (1,837) $ (4,154) Benefit from income taxes Expected benefit from income taxes at Canadian statutory rate $ 251 $ 494 $ 1,117 Non-deductible amount of share-based compensation (9) (7) (10) Adjustments to tax attributes 26 (99) (4) Change in valuation allowance related to foreign tax credits and NOLs 62 21 (3) Change in valuation allowance on Canadian deferred tax assets and tax rate changes 687 (142) (875) Change in uncertain tax positions (163) (350) (47) Foreign tax rate differences (128) 186 (3) Non-deductible portion of Goodwill impairments — — (488) Tax benefit on intra-entity transfers (338) — 356 Other (13) (49) (33) $ 375 $ 54 $ 10 Deferred tax assets and liabilities as of December 31, 2020 and 2019 consist of: (in millions) 2020 2019 Deferred tax assets: Tax loss carryforwards $ 2,924 $ 2,911 Provisions 1,004 641 Research and development tax credits 172 155 Scientific Research and Experimental Development pool 55 52 Tax credit carryforwards 20 25 Deferred revenue 9 5 Unrealized FX on U.S. dollar debt and other financing cost — 94 Prepaid expenses 27 41 Share-based compensation 16 19 Other 24 23 Total deferred tax assets 4,251 3,966 Less valuation allowance (2,252) (2,831) Net deferred tax assets 1,999 1,135 Deferred tax liabilities: Intangible assets 228 53 Plant, equipment and technology 89 56 Outside basis differences 71 41 Unrealized FX on U.S. dollar debt and other financing cost 2 — Total deferred tax liabilities 390 150 Net deferred tax asset $ 1,609 $ 985 The following table presents a reconciliation of the deferred tax asset valuation allowance for 2020, 2019 and 2018: (in millions) 2020 2019 2018 Balance, beginning of year $ 2,831 $ 2,913 $ 2,001 Charged to Benefit from income taxes (773) 13 870 Charged to other accounts 194 (95) 42 Balance, end of year $ 2,252 $ 2,831 $ 2,913 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 EBIT thereafter. Disallowed interest can be carried forward indefinitely and any unused interest deduction assessed for recoverability. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law. The CARES Act also amended the annual limitation on the deduction of interest in the following respects: (i) increasing the limitation to 50% of adjusted taxable income (“ATI”), (ii) providing a rule for a partnership’s 2019 section 163(j)-disallowed interest expense and (iii) allowing an election to apply 2019 ATI to the 2020 section 163(j) computation. For corporations, the increase to 50% of ATI applies to all taxable years beginning in 2019 or 2020 and permits taxpayers whose 2020 income will decrease from its 2019 level, an election to apply their 2019 ATI, rather than their 2020 ATI, to their 2020 computation. The Company considered such provisions and expects to fully utilize any interest carry forwards in future periods. On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was signed into law and included 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 implemented a modified territorial tax system that included a one-time transition tax on the accumulated previously untaxed earnings of foreign subsidiaries (the “Transition Toll Tax”) equal to 15.5% (reinvested in liquid assets) or 8% (reinvested in non-liquid assets). At the taxpayer's election, the Transition Toll Tax can be paid over an eight-year period without interest, starting in 2018. The Company elected not to use this option and instead used a portion of its U.S. net operating losses ("NOLs") to offset this income inclusion. The provisional amounts included in Benefit from income taxes for the year 2017, including the Transition Toll Tax, were finalized during 2018. Differences between the provisional net income tax benefits provided for the year 2017 attributable to the Tax Act and the benefit for income taxes as finalized are included in the Benefit from income taxes for 2018 and were not material to the Company’s financial results for the year 2018. The Company has provided for income taxes in accordance with guidance issued by accounting regulatory bodies, the U.S. Internal Revenue Service and state and local governments through the date of the issuance of these Consolidated Financial Statements. Additional guidance and interpretations can be expected and such guidance, if any, could impact future results. While management continues to monitor these matters, the ultimate impact, if any, as a result of the application of any guidance issued in the future cannot be determined at this time. The realization of deferred tax assets is dependent on the Company generating sufficient domestic and foreign taxable income in the years that the temporary differences become deductible. A valuation allowance has been provided for the portion of the deferred tax assets that the Company determined is more likely than not to remain unrealized based on estimated future taxable income and tax planning strategies. As a result of taxable losses in Canada as offset by a reduction of deferred tax assets due to internal restructurings, the valuation allowance decreased by $579 million during 2020 and decreased by $82 million during 2019. Given the Company’s history of pre-tax losses and expected future losses in Canada, the Company maintained that there was insufficient objective evidence to release the valuation allowance against Canadian tax loss carryforwards, International Tax Credits (“ITC”) and pooled Scientific Research and Experimental Development Tax Incentive (“SR&ED”) expenditures. The Canadian valuation allowance represents a material portion of the Company's total valuation allowance. As of December 31, 2020 and 2019, the Company had accumulated taxable losses available to offset future years’ federal and provincial taxable income in Canada of approximately $6,530 million and $7,441 million, respectively. As of December 31, 2020 and 2019, unclaimed ITCs available to offset future federal taxes in Canada were approximately $37 million and $34 million, respectively, which expire in the years 2021 through 2040. In addition, as of December 31, 2020 and 2019, pooled SR&ED expenditures available to offset against future taxable income in Canada were approximately $206 million and $192 million, respectively, which may be carried forward indefinitely. As of December 31, 2020 and 2019, a full valuation allowance against the net Canadian deferred tax assets has been provided of $1,966 million and $2,461 million, respectively. As of December 31, 2020 and 2019, the Company had accumulated taxable losses available to offset future years' federal taxable income in the U.S. of approximately $814 million and $636 million, respectively, including acquired losses which expire in the years 2021 through 2037. While the remaining taxable losses are subject to multiple annual loss limitations as a result of previous ownership changes, the Company believes that the recoverability of the deferred tax assets associated with these taxable losses are more likely than not to be realized. As of December 31, 2020 and 2019 U.S. research and development credits available to offset future years' federal income taxes in the U.S. were approximately $110 million and $106 million, respectively, which includes acquired research and development credits and which expire in the years 2021 through 2040. As of December 31, 2020 and 2019, the Company had accumulated taxable losses available to offset future years’ taxable income in Ireland of approximately $8,387 million and $6,765 million, respectively. As of December 31, 2020 and 2019, the Company recognized a capital loss and established a valuation allowance on the portion of the loss for which a benefit is not expected to be realized. The Company provides for Canadian tax on the unremitted earnings of its direct foreign affiliates except for its direct U.S. subsidiaries. The Company continues to assert that the unremitted earnings of its U.S. subsidiaries will be permanently reinvested and not repatriated. As of December 31, 2020, the Company estimates there will be no tax liability attributable to the permanently reinvested U.S. earnings. As of December 31, 2020 and 2019, unrecognized tax benefits (including interest and penalties) were $1,025 million and $1,002 million, of which $414 million and $355 million would affect the effective income tax rate, respectively. In 2020 and 2019, the remaining unrecognized tax benefits would not impact the effective tax rate as the tax positions are offset against existing tax attributes or are timing in nature. In 2020 and 2019, the Company recognized net increases to unrecognized tax benefits for current year tax positions of $66 million and $362 million, respectively. The Company recognized a net reduction of $42 million during 2020 and a net reduction of $13 million during 2019 in the unrecognized tax benefits related to tax positions taken in the prior years. The Company provides for interest and penalties related to unrecognized tax benefits in the provision for income taxes. As of December 31, 2020 and 2019, accrued interest and penalties related to unrecognized tax benefits were approximately $49 million and $45 million, respectively. In 2020 and 2019, the Company recognized a net increase of approximately $4 million and $3 million of interest and penalties, respectively. The Company and one or more of its subsidiaries file federal income tax returns in Canada, the U.S., and other foreign jurisdictions, as well as various provinces and states in Canada and the U.S. The Company and its subsidiaries have open tax years, primarily from 2005 to 2019, with significant taxing jurisdictions, respectively, including Canada and the U.S. These open years contain certain matters that could be subject to differing interpretations of applicable tax laws and regulations and tax treaties, as they relate to the amount, timing, or inclusion of revenues and expenses, or the sustainability of income tax positions of the Company and its subsidiaries. Certain of these tax years are expected to remain open indefinitely. Jurisdiction: Open Years United States - Federal 2015 - 2019 Canada 2005 - 2019 Germany 2014 - 2019 France 2013 - 2019 China 2016 - 2019 Ireland 2016 - 2019 Netherlands 2016 - 2019 Australia 2011 - 2019 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 2014 tax year remains open to the extent of a 2017 capital loss carried back to that year. 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 is currently under examination by the Canada Revenue Agency for four separate cycles: (a) years 2005 through 2006, (b) years 2007 through 2009, (c) years 2012 through 2013 and (d) years 2014 through 2015. The Company received from the Canada Revenue Agency a proposed audit adjustment for the years 2005 through 2009. The Company disagrees with the adjustments and has filed the respective Notices of Objection. The total proposed adjustment will result in a loss of tax attributes which are subject to a full valuation allowance and will not result in material change to the provision for income taxes. The Canada Revenue Agency audits of the 2010 and 2011 tax years were closed in 2016, and resulted in no material adjustments. The Company received an assessment for certain transfer pricing matters in 2012 and 2013 for CAD 85 million and CAD 90 million, respectively. The Company disagrees with the adjustments and has filed a Notice of Objection for 2012 and will file an objection for 2013. Of the total proposed adjustments, all but CAD 3 million will result in a loss of tax attributes which are subject to a full valuation allowance and will not result in a material change to the provision for income taxes. 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. The Company's U.S. affiliates remain under examination for various state tax audits in the U.S. for years 2015 through 2018. 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. The following table presents a reconciliation of the unrecognized tax benefits for 2020, 2019 and 2018: (in millions) 2020 2019 2018 Balance, beginning of year $ 1,002 $ 654 $ 598 Additions based on tax positions related to the current year 66 361 18 Additions for tax positions of prior years 171 63 55 Reductions for tax positions of prior years (209) (58) (11) Lapse of statute of limitations (5) (18) (6) Balance, end of year $ 1,025 $ 1,002 $ 654 The Company believes it is reasonably possible that the total amount of unrecognized tax benefits at December 31, 2020 could decrease by approximately $145 million in the next twelve months as a result of the resolution of certain tax and transfer pricing audits and other events.

LOSS PER SHARE

LOSS PER SHARE	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
LOSS PER SHARE	LOSS PER SHARE Loss per share attributable to Bausch Health Companies Inc. for 2020, 2019 and 2018 were calculated as follows: (in millions, except per share amounts) 2020 2019 2018 Net loss attributable to Bausch Health Companies Inc. $ (560) $ (1,788) $ (4,148) Basic and diluted weighted-average common shares 355.0 352.1 351.3 Basic and diluted loss per share attributable to Bausch Health Companies Inc. $ (1.58) $ (5.08) $ (11.81) In 2020, 2019 and 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 approximately 3,154,000, 5,106,000 and 3,763,000 common shares for 2020, 2019 and 2018, respectively. Additionally, in 2020, 2019 and 2018, stock options, time-based RSUs and performance-based RSUs to purchase approximately 9,551,000, 2,598,000 and 4,185,000 common shares of the Company, respectively, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive under the treasury stock method.

SUPPLEMENTAL CASH FLOW DISCLOSU

SUPPLEMENTAL CASH FLOW DISCLOSURES	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for 2020, 2019 and 2018 are as follows: (in millions) 2020 2019 2018 Other payments Interest paid $ 1,474 $ 1,537 $ 1,665 Income taxes paid $ 162 $ 172 $ 138

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	LEGAL PROCEEDINGSFrom 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. Going forward, in the Company's subsequent Quarterly Reports on Form 10-Q, the Company will only include a description of these matters to the extent there has been a material update with respect thereto during the applicable quarter or to the extent otherwise required by law. On a quarterly basis, the Company evaluates developments in legal proceedings, potential settlements and other matters that could increase or decrease the amount of the liability accrued. As of December 31, 2020, the Company's Consolidated Balance Sheets includes accrued current loss contingencies of $1,672 million related to matters which the Company believes a potential resolution or settlement is 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 - re OraPharma In August 2019, the Company received a subpoena from the U.S. Attorney's Office for the District of Massachusetts requesting materials including documents concerning the sales, marketing, coverage and reimbursement of Arestin ® , including related support services, and other matters. The Company is cooperating with this investigation. The Company cannot predict the outcome or the duration of this investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of this investigation. Securities and RICO Class Actions and Related Matters U.S. Securities Litigation - Opt-Out Litigation On December 16, 2019, the Company announced that it had agreed to settle, subject to final court approval, the consolidated securities class action filed in the U.S. District Court for the District of New Jersey (In re Valeant Pharmaceuticals International, Inc. Securities Litigation, Case No. 15-cv-07658). On January 31, 2021 the District Court issued an order granting final approval of this settlement. On February 4, 2021, Timber Hill filed a notice of appeal of the Court’s final approval order, which overruled its objections to the allocation of settlement proceeds as between common stock and options. The deadline for other parties to file notices of appeal from the final approval order is March 2, 2021. In October 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. The allegations related 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. 15-cv-07658. On December 16, 2019, the Company, the current or former officers and directors, ValueAct, and the underwriters announced that they agreed to resolve the securities action for $1,210 million. This settlement received final approval from the court on January 31, 2021 and will resolve and discharge all claims against the Company in the class action. As part of the settlement, the Company and the other settling defendants admitted no liability as to the claims against it and denied all allegations of wrongdoing. In order to qualify for a settlement payment all persons and entities that purchased or otherwise acquired the Company securities during the class period must have submitted a proof of claim and release form by May 6, 2020. The settlement payment was paid into an escrow fund in accordance with the settlement agreement. The opt-out litigations discussed below remain ongoing. 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. 18-cv-10246) (“Timber Hill”), 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. 15-cv-07658). On January 14, 2019, the defendants filed a motion to dismiss the Timber Hill complaint. Briefing on that motion was completed on February 13, 2019. On August 15, 2019, the Court denied the motion to dismiss the Timber Hill action, holding that this complaint was a legal nullity as a result of the June 11, 2018 consolidation order. In addition to the consolidated putative class action, thirty-seven groups of individual investors in the Company’s stock and debt securities have chosen to opt out of the consolidated putative class action and filed securities actions pending in the U.S. District Court for the District of New Jersey against the Company and certain current or former officers and directors. 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) (“BlueMountain”); 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) (“Pentwater”); 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”); Hound Partners Offshore Fund, LP v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-08705) (“Hound Partners”); 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. 18-cv-01223) (“Prudential”); Senzar Healthcare Master Fund LP v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-02286) (“Senzar”); 2012 Dynasty UC LLC v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-08595) ("2012 Dynasty"); Catalyst Dynamic Alpha Fund v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-12673) (“Catalyst”); Northwestern Mutual Life Insurance Co., v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-15286) (“Northwestern Mutual”); Bahaa Aly, et al. v. Valeant Pharmaceuticals International, Inc., (Case No. 18-cv-17393) (“Aly”); Office of the Treasurer as Trustee for the Connecticut Retirement Plans and Trust Funds v. Valeant Pharmaceuticals International, Inc. (Case No. 19-cv-18473) (“Connecticut”); Delaware Public Employees’ Retirement System v. Valeant Pharmaceuticals International, Inc. (Case No. 19-cv-18475) (“Delaware”); Maverick Neutral Levered Fund v. Valeant Pharmaceuticals International, Inc. (Case No. 20-cv-02190) (“Maverick”), Templeton v. Valeant Pharmaceuticals International, Inc. (Case No. 20-cv-05478) (“Templeton”), USAA Mutual Funds Trust, et al. v. Valeant Pharmaceuticals International, Inc., et al., (Case No. 20-cv-07462) (“USAA”), and GIC Private Ltd. v. Valeant Pharmaceuticals International, Inc., (Case No. 20-cv-07460) (“GIC”). Twelve of the thirty-seven opt out actions have been dismissed; and the total number of remaining opt out actions pending in the District of New Jersey is twenty-five actions. Four additional matters have been settled and dismissals are expected in March 2021. These individual shareholder actions assert claims under Sections 10(b), and 20(a) of the Exchange Act. Certain of these individual actions assert additional claims, including claims under Section 18 of the Exchange Act, Sections 11, 12(a)(2), and 15 of the Securities Act, common law fraud, negligent misrepresentation, and claims under the New Jersey Racketeer Influenced and Corrupt Organizations Act. These claims are based on alleged purchases of Company stock, options, and/or debt at various times between January 3, 2013 and August 10, 2016. The allegations in the complaints are similar to those made by plaintiffs in the putative class action. Motions to dismiss have been filed and in most cases decided in many of these individual actions. To date, the Court has dismissed state law claims including New Jersey Racketeer Influenced and Corrupt Organizations Act, common law fraud, and negligent misrepresentation claims in certain cases. On January 7, 2019, the Court entered a stipulation of voluntary dismissal in the Senzar Healthcare Master Fund LP v. Valeant Pharmaceuticals International, Inc. (Case No. 18-cv-02286) opt-out action, closing the case. On September 10, 2019, the Court granted defendants’ motion to dismiss all claims in the Bahaa Aly v. Valeant Pharmaceuticals International, Inc. (“Aly”) (Case No. 18-cv-17393) opt-out action. On October 9, 2019, the Aly Plaintiffs filed a notice of appeal to the United States Court of Appeals for the Third Circuit. Oral argument on Plaintiffs’ appeal was held on October 20, 2020. On June 19, 2020, the Court entered stipulations of voluntary dismissal in the Catalyst, Mississippi, Connecticut, and Delaware actions. On July 13, 2020, the Court entered a stipulation of voluntary dismissal in the NYCERS action. On December 30, 2020, the Court entered a stipulation of voluntary dismissal in the BlueMountain action. On February 18, 2021, the Court entered stipulations of voluntary dismissal in the T. Rowe, BloombergSen, Principal Funds and Equity Trustees actions. The Company disputes the claims against it in the remaining individual opt-out complaints and intends to defend itself vigorously. Canadian Securities Litigation In 2015, six putative class actions were filed and served against the Company and certain current or former officers and directors 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 Company is also aware of two additional putative class actions that were filed with the applicable court but which have not 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 actions generally allege 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 the same matters described in the U.S. Securities Litigation description above. Each of these putative class actions, other than the Catucci action in the Quebec Superior Court, has been discontinued. In the Catucci action, on August 29, 2017, the judge granted the plaintiffs leave to proceed with their claims under the Quebec Securities Act and authorized the class proceeding. On October 26, 2017, the plaintiffs issued their Judicial Application Originating Class Proceedings. After a hearing on November 11, 2019, the court approved a settlement in the Catucci action between the class members and the Company’s auditors and the action was dismissed as against them. On August 4, 2020, the Company entered into a settlement agreement with the plaintiffs in Catucci, on behalf of the class, pursuant to which it agreed to resolve the Catucci action for the amount of CAD 94,000,000 plus payment of an additional amount to cover notice and settlement administration costs and disbursements. As part of the settlement, the Company and the other defendants admitted no liability as to the claims against it and deny all allegations of wrongdoing. Court approval of the settlement was granted after a hearing on November 16, 2020. The Catucci action has now been dismissed against the Company, its current and former directors and officers, its underwriters and its insurers. 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 proceeding 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 (Court File No. 500-17-103749-183) 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. On February 15, 2019, one of the entities which exercised its opt-out rights (“CalSTRS”) served the Company with an application in the Quebec Superior Court of Justice for leave to pursue an action under the Quebec Securities Act against the Company, certain current or former officers and directors of the Company and its auditor. That proceeding is captioned California State Teachers’ Retirement System v. Bausch Health Companies Inc. et al. (Court File No. 500-11-055722-181). The allegations in the proceeding are similar to those made by the plaintiffs in the Catucci class action and in the BlackRock opt out proceedings. On that same date, CalSTRS also served the Company with proceedings (Court File No. 500-17-106044-186) against the same defendants asserting claims under the Quebec Civil Code in respect of the same alleged misrepresentations. On February 3, 2020, the Quebec Superior Court granted the applications of CalSTRS and BlackRock for leave to pursue their respective actions asserting claims under the Quebec Securities Act. On June 16, 2020, the Quebec Court of Appeal granted the defendants leave to appeal that decision. On October 8 and 9, 2020, respectively, CalSTRS delivered amended proceedings to, among other things, include a new alleged misrepresentation concerning the accounting treatment of “price appreciation credits” in respect of Glumetza ® during the period covered by the claims. CalSTRS has filed an application for permission to amend and the Company has filed an application to strike the amendments. 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: (i) 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 (ii) 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 herein and in the Company's prior annual and quarterly reports (under the 2015-2016 coverage period). RICO Class Actions Between May 27, 2016 and September 16, 2016, three actions were filed in the U.S. District Court for the District of New Jersey against the Company and various third-parties (these actions were subsequently consolidated), 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. 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. A Special Master appointed by the Court has recommended that the Company’s motion to dismiss be denied, but a final decision is still pending with the Court. The Company believes these claims are without merit and intends to defend itself vigorously. Hound Partners Lawsuit In October 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. This matter is currently stayed pending the completion of discovery in one of the above-noted federal opt-out cases. The Company disputes the claims and intends to vigorously defend this matter. Derivative Lawsuits On September 10, 2019 and September 13, 2019, two alleged stockholders filed derivative lawsuits purportedly on behalf of the Company against former Company board members and executives. The cases are Wessels v. Pearson (Case No. 3:19-cv-17833) and Shabbouei v. Pearson (Case No. 3:19-cv-17987). On March 7, 2020, a consolidated amended derivative complaint was filed, captioned In re Bausch Health Companies Inc. F/K/A/ Valeant Pharmaceuticals International, Inc. Stockholder Derivative Litigation (Case No. 19-cv-17833). Plaintiffs assert claims for breach of fiduciary duty, waste of corporate assets, and unjust enrichment related 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. The consolidated complaint also asserts a claim for contribution and indemnification by the Defendants for any liability the Company ultimately faces as a result of the conduct alleged in the complaint. The claims alleged in these cases are based on the same purported conduct that is at issue in In re Valeant Pharmaceuticals International, Inc. Securities Litigation, all of which occurred prior to 2017. The Shabbouei complaint also asserts a claim for contribution and indemnification by the Defendants for any liability the Company ultimately faces as a result of the conduct alleged in the complaint. On January 3, 2020, the parties submitted a letter to the Court requesting consolidation of the two derivative lawsuits. On April 21, 2020, the Defendants filed a motion to dismiss the consolidated amended complaint. Briefing on this motion concluded on August 3, 2020. On November 24, 2020, the Special Master appointed by the Court issued a report recommending that the motion to dismiss be granted in full. While a final decision is still pending with the Court, Plaintiffs are not contesting the dismissal in full. The Company continues to believe these claims are without merit and intends to defend itself vigorously. Antitrust Generic Pricing Antitrust Litigation The Company's subsidiaries, Oceanside Pharmaceuticals, Inc. (“Oceanside”), Bausch Health US, LLC (formerly Valeant Pharmaceuticals North America LLC) (“Bausch Health US”), and Bausch Health Americas, Inc. (formerly Valeant Pharmaceuticals International) (“Bausch Health Americas”) (for the purposes of this paragraph, collectively, the “Company”), are defendants in multidistrict antitrust litigation (“MDL”) 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 lawsuits seek damages under federal and state antitrust laws, state consumer protection and unjust enrichment laws and allege that the Company’s subsidiaries entered into a conspiracy to fix, stabilize, and raise prices, rig bids and engage in market and customer allocation for generic pharmaceuticals. The lawsuits, which have been brought as putative class actions by direct purchasers, end payers, and indirect resellers, and as direct actions by direct purchasers, end payers, insurers, States, and various Counties, Cities, and Towns, have been or are expected to be consolidated into the MDL. There are also additional, separate complaints which have been consolidated in the same MDL that do not name the Company or any of its subsidiaries as a defendant. In July 2019, 87 health plans commenced an action in the Court of Common Pleas of Philadelphia County against the Company and other defendants related to the multidistrict litigation, but no complaint has been filed and the case has been put in deferred status. In May 2020, seven health plans commenced an additional action in the Court of Common Pleas of Philadelphia County against the Company and other defendants related to the multidistrict litigation, but no complaint has been filed. The Company disputes the claims against it and continues to defend itself vigorously. Additionally, Bausch Health Companies Inc. and certain U.S. and Canadian subsidiaries (for the purposes of this paragraph, collectively “the Company”) have been named as defendants in a proposed class proceeding entitled Kathryn Eaton vs. Teva Canada Limited, et al. in the Federal Court in Toronto, Ontario, Canada (Court File No. T-607-20). The plaintiff seeks to certify a proposed class action on behalf of persons in Canada who purchased generic drugs in the private sector, alleging that the Company and other defendants violated the Competition Act by conspiring to allocate the market, fix prices, and maintain the supply of generic drugs, and seeking damages under federal law. The proposed class action contains similar allegations to the In re: Generic Pharmaceuticals Pricing Antitrust Litigation pending in the United States Court for the Eastern District of Pennsylvania. The Company disputes the claims against it and will defend itself vigorously. Glumetza Antitrust Litigation Between August 2019 and July 2020, eight (8) putative antitrust class actions and four (4) non-class complaints naming the Company, Salix Pharmaceuticals, Ltd., Salix Pharmaceuticals, Inc., and Santarus, Inc. (for purposes of this subsection, collectively, the “Company”), among other defendants, were filed or transferred to the Northern District of California. Three (3) of the class actions were filed by plaintiffs seeking to represent a class of direct purchasers. The purported classes of direct purchasers filed a consolidated first amended complaint and a motion for class certification in April 2020. The court certified a direct purchaser class in August 2020. The putative class action complaints filed by end payer purchasers have all been voluntarily dismissed. Three (3) of the non-class complaints were filed by direct purchasers. The fourth non-class complaint, asserting claims based on both direct and indirect purchases, was filed by an insurer plaintiff in July 2020 and subsequently amended in September 2020. In December 2020, the court denied the Company’s motion to dismiss as to the insurer plaintiff’s direct claims but dismissed the insurer plaintiff’s indirect claims. On February 2, 2021, the insurer plaintiff’s motion for leave to amend its complaint was denied. On February 8, 2021, the insurer plaintiff filed an action in state court asserting state law claims. The federal actions, five (5) of which remain pending, have been consolidated and coordinated in In re Glumetza Antitrust Litigation , Case No. 3:19-cv-05822-WHA. The lawsuits allege that a 2012 settlement of a patent litigation regarding Glumetza ® delayed generic entry in exchange for an agreement not to launch an authorized generic of Glumetza ® or grant any other company a license to do so. The complaints allege that the settlement agreement resulted in higher prices for Glumetza ® and its generic equivalent both prior to and after generic entry. Both the class and non-class plaintiffs seek damages under federal antitrust laws for claims based on direct purchases. All Plaintiffs have filed a motion for partial summary judgment concerning market power, whereas all Defendants have filed a motion for summary judgment on all claims against them. The Company disputes the claims against it and intends to vigorously defend these matters. Intellectual Property Patent Litigation/Paragraph IV Matters From time to time, the Company (and/or certain of its affiliates) is also party to certain patent infringement proceedings in the United States and Canada, including as arising from claims filed by the Company (or that the Company anticipates filing within the required time periods) in connection with Notices of Paragraph IV Certification (in the United States) and Notices of Allegation (in Canada) received from third-party generic manufacturers respecting their pending applications for generic versions of certain products sold by or on behalf of the Company, including Relistor ® , Xifaxan ® 550mg, Plenvu ® , Bryhali ® , Duobrii ® and Jublia ® in the United States and Jublia ® in Canada, or other similar suits. These matters are proceeding in the ordinary course. In September 2019, the Company received a Notice of Paragraph IV Certification from Sandoz, Inc. (“Sandoz”), in which Sandoz asserted that the following U.S. patents, each of which is listed in the FDA’s Orange Book for Salix Pharmaceuticals, Inc.’s (“Salix Inc.”) Xifaxan ® tablets, 550 mg, are either invalid, unenforceable and/or will not be infringed by the commercial manufacture, use or sale of Sandoz’s generic rifaximin tablets, 550 mg, for which an Abbreviated New Drug Application (“ANDA”) has been filed by Sandoz: U.S. Patent No. 8,309,569 (the “‘569 patent”), U.S. Patent No. 7,045,620 (the “‘620 patent”), U.S. Patent No. 7,612,199 (the “‘199 patent”), U.S. Patent No. 7,902,206 (the “‘206 patent”), U.S. Patent No. 7,906,542 (the “‘542 patent”), U.S. Patent No. 7,915,275 (the “‘275 patent”), U.S. Patent No. 8,158,644 (the “‘644 patent”), U.S. Patent No. 8,158,781 (the “‘781 patent”), U.S. Patent No. 8,193,196 (the “‘196 patent”), U.S. Patent No. 8,518,949 (the “‘949 patent”), U.S. Patent No. 8,741,904 (the “‘904 patent”), U.S. Patent No. 8,835,452 (the “‘452 patent”), U.S. Patent No. 8,853,231 (the “‘231 patent”), and U.S. Patent No. 9,271,968 (the “’968 Patent”) (collectively, the “Xifaxan ® Patents”). Salix Inc. holds the New Drug Application ("NDA") for Xifaxan ® and its affiliate, Salix Pharmaceuticals, Ltd. (“Salix Ltd.”), is the owner of the ‘569 patent and Alfasigma S.p.A. (“Alfasigma”) is the owner of the ‘620 patent, the ‘199 patent, the ‘206 patent, the ‘542 patent, the ‘275 patent, the ‘644 patent, the ‘781 patent, the ‘196 patent, the ‘949 patent, the ‘904 patent, the ‘452 patent, the ‘231 patent, and the ‘968 patent, each of which has been exclusively licensed to Salix Inc. and its affiliate, Bausch Health Ireland Limited (“BIRL”) to m

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company has commitments related to capital expenditures of approximately $54 million as of December 31, 2020. Under certain agreements, the Company may be required to make payments contingent upon the achievement of specific developmental, regulatory, or commercial milestones. As of December 31, 2020, the Company believes it is reasonably possible that it may potentially make milestone and license fee payments, including sales-based milestone payments, of approximately $360 million over time, in the aggregate, to third parties for products currently under development or being marketed, primarily consisting of the following: • Under the terms of a June 2013 distribution and supply agreement with Mylan Pharmaceuticals Inc. (as assignee of Spear Pharmaceuticals, Inc and Spear Dermatology Products Inc.), the Company may be required to make sales-based milestone payments. The Company believes it is reasonably possible that these payments over time may approximate $70 million, in the aggregate. • Under the terms of an April 2019 agreement with Mitsubishi Tanabe Pharma Corporation, the Company has acquired an exclusive license to develop and commercialize MT-1303 (amiselimod), a late-stage oral compound that targets the sphingosine 1-phosphate (S1P) receptor that plays a role in autoimmune diseases, such as Inflammatory Bowel Disease and ulcerative colitis. The Company may be required to make development and sales-based milestone payments over time of up to $60 million, in the aggregate, as well as royalties on future sales. • Under the terms of a December 2019 agreement with Novaliq GmbH, the Company has acquired an exclusive license for the commercialization and development in the U.S. and Canada of NOV03 (perfluorohexyloctane), an investigational drug to treat Dry Eye Disease associated with Meibomian gland dysfunction and may be required to make sales-based milestone payments. The Company believes it is reasonably possible that these payments over time may approximate $45 million, in the aggregate, as well as royalties on future sales. • Under the terms of a November 2019 agreement with Cedars-Sinai Medical Center, to evaluate a new formulation of rifaximin for the treatment of irritable bowel syndrome, the Company may be required to make development and sales-based milestone payments. The Company believes it is reasonably possible that these payments over time may approximate $36 million, in the aggregate. • Under the terms of an October 2020 agreement with Eyenovia, Inc., the Company has acquired an exclusive license in the United States and Canada for the development and commercialization of an investigational microdose formulation of atropine ophthalmic solution, which is being investigated for the reduction of pediatric myopia progression, also known as nearsightedness, in children ages 3-12. Under the terms of the agreement, the Company may be required to make development and sales-based milestone payments. The Company believes it is reasonably possible that these payments over time may approximate $35 million, in the aggregate. • Under the terms of a May 2020 agreement with STADA Arzneimittel AG and its development partner, Xbrane Biopharma AB, to commercialize in the United States and Canada a biosimilar candidate to Lucentis (ranibizumab), the Company may be required to make development and sales-based milestone payments. In addition, under the terms of a September 2020 agreement with Allegro, the Company may be required to make a payment of $40 million should Allegro raise additional funding. This amount is excluded from the milestone and license fee payments disclosed above. See Note 3, "ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE" for additional details regarding this agreement. On February 27, 2018, the Company announced that it entered into an exclusive license agreement with Kaken Pharmaceutical Co., Ltd. ("Kaken") to develop and commercialize a new chemical entity, IDP-131 (KP-470), for the topical treatment of psoriasis. An early proof of concept study has been completed and the results did not meet expectations. As a result, the Company and Kaken have terminated the license agreement. Due to the nature of these arrangements, the future potential payments related to the attainment of the specified milestones over a period of several years are inherently uncertain. As of December 31, 2020, no accruals related to the aforementioned agreements exist because the milestone targets are not yet probable of being achieved. Indemnification Provisions In the normal course of business, the Company enters into agreements that include indemnification provisions for product liability and other matters. These provisions are generally subject to maximum amounts, specified claim periods and other conditions and limits. In addition, the Company is obligated to indemnify its officers and directors in respect of any legal claims or actions initiated against them in their capacity as officers and directors of the Company in accordance with applicable law. Pursuant to such indemnities, the Company is indemnifying certain former officers and directors in respect of certain litigation and regulatory matters. As of December 31, 2020 and 2019, no material amounts were accrued for the Company’s obligations under these indemnification provisions.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Reportable Segments In connection with the planned Separation of its eye-health business into an independent publicly traded entity from the remainder of Bausch Health Companies Inc., the Company has begun managing its operations in a manner consistent with the organizational structure of the two separate entities as proposed by the Separation. As a result, during the first quarter of 2021, the Company’s Chief Executive Officer ("CEO"), who is the Company’s Chief Operating Decision Maker, commenced managing the business differently through changes in its operating and reportable segments, which necessitated a realignment of the Company's historical segment structure. This realignment is consistent with how the Company’s CEO currently: (i) assesses operating performance on a regular basis, (ii) makes resource allocation decisions and (iii) designates responsibilities of his direct reports. Pursuant to these changes, effective in the first quarter of 2021, the Company operates in the following reportable segments: (i) Bausch + Lomb, (ii) Salix, (iii) International Rx, (iv) Ortho Dermatologics and (v) Diversified Products. In addition, as part of this realignment of segment structure, certain products historically included in certain segments are now included in their new respective segments based on the organizational structure of the two separate entities as proposed by the Separation. All segment revenues and profits for the periods presented have been recast to conform to the 2021 reporting segment reporting structure. The following is a brief description of the Company’s segments: • The Bausch + Lomb segment consists of global sales of Bausch + Lomb Vision Care, Consumer, Surgical and Ophthalmology Rx products. • The Salix segment consists of sales in the U.S. of GI products. • The International Rx segment consists of sales, with the exception of sales of Bausch + Lomb and Solta products, outside the U.S. and Puerto Rico of branded pharmaceutical products, branded generic pharmaceutical products and OTC products. • The Ortho Dermatologics segment consists of: (i) sales in the U.S. of Ortho Dermatologics (dermatological) products and (ii) global sales of Solta medical aesthetic devices. • The Diversified Products segment consists of sales in the U.S. of: (i) pharmaceutical products in the areas of neurology and certain other therapeutic classes, (ii) generic products and (iii) dentistry products. Segment profit is based on operating income after the elimination of intercompany transactions. Certain costs, such as Amortization of intangible assets, Asset impairments, Acquired in-process research and development costs, Restructuring, integration and separation costs, Acquisition-related contingent consideration costs and Other expense (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 Profit Segment revenues and profits for the years 2020, 2019 and 2018 were as follows: (in millions) 2020 2019 2018 Revenues: Bausch + Lomb $ 3,411 $ 3,774 $ 3,661 Salix 1,904 2,022 1,749 International Rx 1,185 1,158 1,160 Ortho Dermatologics 548 560 608 Diversified Products 979 1,087 1,202 Total revenues $ 8,027 $ 8,601 $ 8,380 Segment profit: Bausch + Lomb $ 907 $ 1,115 $ 1,080 Salix 1,338 1,349 1,149 International Rx 388 354 345 Ortho Dermatologics 228 216 249 Diversified Products 717 801 925 Total segment profit 3,578 3,835 3,748 Corporate (619) (609) (605) Amortization of intangible assets (1,645) (1,897) (2,644) Goodwill impairments — — (2,322) Asset impairments, including loss on assets held for sale (114) (75) (568) Restructuring, integration and separation costs (22) (31) (22) Acquisition-related contingent consideration (48) (12) 9 Other (expense) income, net (454) (1,414) 20 Operating income (loss) 676 (203) (2,384) Interest income 13 12 11 Interest expense (1,534) (1,612) (1,685) Loss on extinguishment of debt (59) (42) (119) Foreign exchange and other (30) 8 23 Loss before benefit from income taxes $ (934) $ (1,837) $ (4,154) Capital Expenditures Capital expenditures by segment for the years 2020, 2019 and 2018 were as follows: (in millions) 2020 2019 2018 Capital expenditures: Bausch + Lomb $ 253 $ 186 $ 104 Salix 3 2 2 International Rx 29 39 35 Ortho Dermatologics 2 1 1 Diversified Products 2 2 2 289 230 144 Corporate 13 40 13 Total capital expenditures $ 302 $ 270 $ 157 Revenues by Product and by Product Category Revenues for the Company's top ten products for the years 2020, 2019 and 2018 represented 41%, 39% and 36% of total product sales, respectively. Revenues by segment and product category were as follows: (in millions) Bausch + Lomb Salix International Rx Ortho Dermatologics Diversified Products Total For the year ended December 31, 2020 Pharmaceuticals $ 506 $ 1,899 $ 255 $ 275 $ 745 $ 3,680 Devices 1,313 — — 253 — 1,566 OTC 1,311 — 112 — 7 1,430 Branded and Other Generics 250 — 779 — 219 1,248 Other revenues 31 5 39 20 8 103 $ 3,411 $ 1,904 $ 1,185 $ 548 $ 979 $ 8,027 For the year ended December 31, 2019 Pharmaceuticals $ 623 $ 2,022 $ 268 $ 353 $ 813 $ 4,079 Devices 1,524 — — 193 — 1,717 OTC 1,322 — 119 — 6 1,447 Branded and Other Generics 256 — 734 — 256 1,246 Other revenues 49 — 37 14 12 112 $ 3,774 $ 2,022 $ 1,158 $ 560 $ 1,087 $ 8,601 For the year ended December 31, 2018 Pharmaceuticals $ 617 $ 1,752 $ 280 $ 455 $ 930 $ 4,034 Devices 1,505 — — 135 — 1,640 OTC 1,282 — 118 — 7 1,407 Branded and Other Generics 225 — 721 — 244 1,190 Other revenues 32 (3) 41 18 21 109 $ 3,661 $ 1,749 $ 1,160 $ 608 $ 1,202 $ 8,380 Geographic Information Revenues are attributed to a geographic region based on the location of the customer for the years 2020, 2019 and 2018 were as follows: (in millions) 2020 2019 2018 U.S. and Puerto Rico $ 4,791 $ 5,164 $ 5,011 China 341 368 361 Canada 331 339 319 Egypt 243 218 178 Poland 238 231 218 Japan 226 241 226 Mexico 225 228 211 France 179 201 205 Germany 144 150 170 Russia 137 180 154 United Kingdom 86 115 117 Spain 78 86 83 Other 1,008 1,080 1,127 $ 8,027 $ 8,601 $ 8,380 Long-lived assets consisting of property, plant and equipment, net of accumulated depreciation, are attributed to geographic regions based on their physical location as of December 31, 2020 and 2019 were as follows: (in millions) 2020 2019 U.S. and Puerto Rico $ 725 $ 656 Ireland 328 255 Canada 110 103 Poland 83 90 Germany 80 68 Mexico 49 50 France 34 30 China 31 27 Serbia 30 27 Italy 23 22 Other 74 138 $ 1,567 $ 1,466 Major Customers Customers that accounted for 10% or more of total revenues were as follows: 2020 2019 2018 McKesson Corporation 17% 17% 18% AmerisourceBergen Corporation 17% 16% 18% Cardinal Health, Inc. 13% 14% 13%

SUPPLEMENTARY DATA (UNAUDITED)

SUPPLEMENTARY DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
SUPPLEMENTARY DATA (UNAUDITED)	SUPPLEMENTARY DATA (UNAUDITED) Selected unaudited quarterly consolidated financial data are shown below: 2020 (in millions, except per share amounts) First Second Third Fourth Revenue $ 2,012 $ 1,664 $ 2,138 $ 2,213 Expenses 1,764 1,691 1,678 2,218 Operating income (loss) $ 248 $ (27) $ 460 $ (5) Net (loss) income attributable to Bausch Health Companies Inc. $ (152) $ (326) $ 71 $ (153) Basic and Diluted (loss) earnings per share attributable to Bausch Health Companies Inc. $ (0.43) $ (0.92) $ 0.20 $ (0.43) Net cash provided by operating activities $ 261 $ 200 $ 256 $ 394 2019 (in millions, except per share amounts) First Second Third Fourth Revenue $ 2,016 $ 2,152 $ 2,209 $ 2,224 Expenses 1,729 1,895 1,880 3,300 Operating income (loss) $ 287 $ 257 $ 329 $ (1,076) Net loss attributable to Bausch Health Companies Inc. $ (52) $ (171) $ (49) $ (1,516) Basic and Diluted loss per share attributable to Bausch Health Companies Inc. $ (0.15) $ (0.49) $ (0.14) $ (4.30) Net cash provided by operating activities $ 413 $ 339 $ 515 $ 234

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation and Use of Estimates The Consolidated Financial Statements have been prepared by the Company in United States (“U.S.”) dollars and in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), applied on a consistent basis. The 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.
Use of Estimates	Use of Estimates In preparing the Company's Consolidated Financial Statements, management is required to make estimates and assumptions. This includes estimates and assumptions regarding the nature, timing and extent of the impacts that the COVID-19 pandemic will have on its operations and cash flows. The estimates and assumptions used by the Company affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by management include: provisions for product returns, rebates, chargebacks, discounts and allowances and distribution fees paid to certain wholesalers; useful lives of amortizable intangible assets and property, plant and equipment; expected future cash flows used in evaluating intangible assets for impairment, assessing compliance with debt covenants and making going concern assessments; reporting unit fair values for testing goodwill for impairment and allocating goodwill to new reporting unit structure on a relative fair value basis; provisions for loss contingencies; provisions for income taxes, uncertain tax positions and realizability of deferred tax assets; fair value of cross-currency swaps; and the recognition of the fair value of assets and liabilities acquired in a business combination, including the fair value of contingent consideration. Under certain product manufacturing and supply agreements, management uses information from the Company’s commercialization counterparties to arrive at estimates for future returns, rebates and chargebacks. On an ongoing basis, management reviews its estimates to ensure that these estimates appropriately reflect changes in the Company’s business and new information as it becomes available. If historical experience and other factors used by management to make these estimates do not reasonably reflect future activity, the Company’s Consolidated Financial Statements could be materially impacted.
Reclassifications	Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation.
Acquisitions and Acquisition-Related Contingent Consideration	Acquisitions Acquired businesses are accounted for using the acquisition method of accounting, which requires that assets acquired and liabilities assumed be recorded at fair value, with limited exceptions. Transaction costs and costs to restructure the acquired company are expensed as incurred. The operating results of the acquired business are reflected in the Consolidated Financial Statements after the date of acquisition. Acquired in-process research and development (“IPR&D”) is recognized at fair value and initially characterized as an indefinite-lived intangible asset, irrespective of whether the acquired IPR&D has an alternative future use. If the acquired net assets do not constitute a business, the transaction is accounted for as an asset acquisition and no goodwill is recognized. In an asset acquisition, the amount allocated to acquired IPR&D with no alternative future use is charged to expense at the acquisition date and any future contingent consideration is not recorded until it becomes probable. Acquisition-Related Contingent Consideration Acquisition-related contingent consideration, which primarily consists of potential milestone payments and royalty obligations, is recorded in the Consolidated Balance Sheets at its acquisition date estimated fair value, in accordance with the acquisition method of accounting. The fair value of the acquisition-related contingent consideration is remeasured each reporting period, with changes in fair value recorded in the Consolidated Statements of Operations. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in fair value measurement accounting.
Fair Value of Financial Instruments	Fair Value of Financial InstrumentsThe estimated fair values of cash and cash equivalents, trade receivables, accounts payable and accrued liabilities approximate their carrying values due to their short maturity periods. The fair value of acquisition-related contingent consideration is based on estimated discounted future cash flows or Monte Carlo Simulation (when appropriate) analyses and assessment of the probability of occurrence of potential future events.
Fair Value of Derivative Instruments	Fair Value of Derivative Instruments The accounting for changes in the fair value of a derivative instrument depends on whether the instrument has been designated and qualifies as part of a hedging relationship and on the type of hedging relationship. For derivative instruments designated and qualifying as hedging instruments, the hedging instrument must be designated, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of the foreign currency exposure of a net investment in a foreign operation. For derivative instruments not designated as hedging instruments, the gain or loss is recognized in the Consolidated Statements of Operations during the current period. The Company’s cross-currency swaps qualify for and have been designated as an accounting hedge of the foreign currency exposure of a net investment in a foreign operation and are remeasured at each reporting date to reflect changes in their fair values. The fair value is determined via a mark-to-market analysis, using observable (Level 2) inputs. These inputs may include: (i) the foreign currency exchange spot rate between the euro and U.S. dollar, (ii) the interest rate yield curves in the euro and U.S. dollar and (iii) the credit risk rating for each applicable counterparty. The net change in fair value of cross-currency swaps is reported as a gain or loss in the Consolidated Statements of Comprehensive Loss as part of Foreign currency translation adjustment to the extent they are effective, and remain in Accumulated other comprehensive loss until either the sale or complete, or substantially complete, liquidation of the subsidiary. No portion of the cross-currency swaps was ineffective. The Company uses the spot method of assessing hedge effectiveness. The Company has elected to amortize amounts excluded from the assessment of effectiveness over the term of its cross-currency swaps as a reduction of Interest expense in the Consolidated Statements of Operations.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash in bank accounts and highly liquid investments with maturities of three months or less when purchased.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, trade receivables, cross-currency swaps and foreign currency exchange contracts. The Company invests its excess cash in high-quality, money market instruments and term deposits with varying maturities, but typically less than three months. Cash deposited at banks may exceed the amount of insurance provided on such deposits. Generally, these cash deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading its risk across multiple counterparties and monitoring the risk profiles of these counterparties.
Allowance for Credit Losses	Allowance for Credit LossesAn allowance is maintained for potential credit losses. The Company estimates the current expected credit loss on its receivables based on various factors, including historical credit loss experience, customer credit worthiness, value of collaterals (if any), and any relevant current and reasonably supportable future economic factors.  Additionally, the Company generally estimates the expected credit loss on a pool basis when customers are deemed to have similar risk characteristics. Trade receivable balances are written off against the allowance when it is deemed probable that the trade receivable will not be collected. Trade receivables, net are stated net of certain sales provisions and the allowance for credit losses.
Inventories	Inventories Inventories comprise raw materials, work in process and finished goods, which are valued at the lower of cost or net realizable value, on a first-in, first-out basis. The cost value for work in process and finished goods inventories includes materials, direct labor and an allocation of overheads. The Company evaluates the carrying value of inventories on a regular basis, taking into account such factors as historical and anticipated future sales compared with quantities on hand, the price the Company expects to obtain for products in their respective markets compared with historical cost and the remaining shelf life of goods on hand.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are reported at cost, less accumulated depreciation. Costs incurred on assets under construction are capitalized as construction in progress. Depreciation is calculated using the straight-line method, commencing when the assets become available for productive use, based on the following estimated useful lives: Land improvements 15 - 30 years Buildings and improvements Up to 40 years Machinery and equipment 3 - 20 years Other equipment 3 - 10 years Equipment on operating lease Up to 5 years Leasehold improvements Lesser of term of lease or 10 years
Intangible Assets	Intangible Assets Intangible assets are reported at cost, less accumulated amortization and impairments. Intangible assets with finite lives are amortized over their estimated useful lives. Amortization is calculated primarily using the straight-line method based on the following estimated useful lives: Product brands 1 - 20 years Corporate brands 7 - 20 years Product rights/patents 4 - 15 years Partner relationships 7 - 9 years Out-licensed technology and other 8 - 9 years
Divestitures of Products	Divestitures of Products The net proceeds on the divestiture of products and the carrying amount of the related assets is recorded as a gain/loss on sale within Other expense (income), net. Any contingent payments that are potentially due to the Company as a result of these divestitures are recorded when realizable.
IPR&D	IPR&D The fair value of IPR&D acquired through a business combination is capitalized as an indefinite-lived intangible asset until the completion or abandonment of the related research and development activities. When the related research and development is completed, the asset will be assigned a useful life and amortized. Acquired IPR&D assets are tested for impairment at least annually or when triggering events are identified. The fair value of an acquired IPR&D intangible asset is typically determined using an income approach. This approach starts with a forecast of the net cash flows expected to be generated by the asset over its estimated useful life. The net cash flows reflect the asset’s stage of completion, the probability of technical success, the projected costs to complete, expected market competition and an assessment of the asset’s life-cycle. The net cash flows are then adjusted to present value by applying an appropriate discount rate that reflects the risk factors associated with the expected cash flow streams.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If indicators of impairment are present, the asset is tested for recoverability by comparing the carrying value of the asset to the related estimated undiscounted future cash flows expected to be derived from the asset. If the expected undiscounted cash flows are less than the carrying value of the asset, then the asset is considered to be impaired and its carrying value is written down to fair value, based on the related estimated discounted future cash flows. Indefinite-lived intangible assets, which includes acquired IPR&D and the corporate trademark acquired in the acquisition of Bausch & Lomb Holdings Incorporated (the ‘‘B&L Trademark’’), are tested for impairment annually or more frequently if events or changes in circumstances between annual tests indicate that the asset may be impaired. Impairment losses on indefinite-lived intangible assets are recognized based on a comparison of the fair value of the asset to its carrying value.
Goodwill	Goodwill Goodwill is recorded with the acquisition of a business and is calculated as the difference between the acquisition date fair value of the consideration transferred and the values assigned to the assets acquired and liabilities assumed. Goodwill is not amortized but is tested for impairment at least annually as of October 1st at the reporting unit level. Goodwill impairment is measured as the amount by which a reporting unit's carrying value exceeds its fair value. A reporting unit is the same as, or one level below, an operating segment. A n entity is permitted to first assess qualitatively whether it is necessary to perform a quantitative impairment test for any of its reporting units. The quantitative impairment test is required only when the Company concludes that it is more likely than not that a reporting unit’s fair value is less than its carrying amount. In evaluating whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company considers the totality of all relevant events or circumstances that affect the fair value or carrying amount of a reporting unit. An interim goodwill impairment test in advance of the annual impairment assessment may be required if events occur that indicate an impairment might be present. For example, a substantial decline in the Company’s market capitalization, changes in reportable segments, unexpected adverse business conditions, economic factors and unanticipated competitive activities may signal that an interim impairment test is needed. Accordingly, among other factors, the Company monitors Effective January 1, 2018, the Company elected to early adopt guidance issued by the Financial Accounting Standards Board ("FASB") which simplified the subsequent measurement of goodwill by eliminating “Step 2” from the goodwill impairment test. Instead, as of January 1, 2018 and all subsequent periods, goodwill impairment is measured as the amount by which a reporting unit's carrying value exceeds its fair value.
Debt Discounts and Premiums, Issuance Costs and Deferred Financing Costs	Debt Discounts and Premiums, Issuance Costs and Deferred Financing Costs Debt discounts, premiums and issuance costs are presented in the Consolidated Balance Sheets as a direct deduction from or addition to the carrying amount of the related debt and are amortized or accreted, using the effective interest method, as interest expense over the contractual lives of the related credit facilities or notes. Deferred financing costs associated with revolving credit facility arrangements are included in the balances of Prepaid expenses and other current assets and Other non-current assets in the Consolidated Balance Sheets and are amortized as interest expense over the contractual life of the related revolving credit facility.
Foreign Currency Translation	Foreign Currency Translation The assets and liabilities of the Company’s foreign operations having a functional currency other than the U.S. dollar are translated into U.S. dollars at the exchange rate prevailing at the balance sheet date, and at the average exchange rate for the reporting period for revenue and expense accounts. The cumulative foreign currency translation adjustment is recorded as a component of Accumulated other comprehensive loss in the Consolidated Balance Sheets. Foreign currency exchange gains and losses on transactions occurring in a currency other than an operation’s functional currency are recognized as a component of Foreign exchange and other in the Consolidated Statements of Operations.
Revenue Recognition	Revenue Recognition The Company’s revenues are primarily generated from product sales, primarily in the therapeutic areas of eye-health, gastroenterology ("GI") and dermatology 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 22, "SEGMENT INFORMATION" for the disaggregation of revenues 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. 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. Product Sales 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 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 the years 2020 and 2019. (in millions) Discounts Returns Rebates Chargebacks Distribution Total Reserve balance, January 1, 2019 $ 175 $ 813 $ 1,024 $ 209 $ 163 $ 2,384 Acquisition of Synergy — 3 12 — 1 16 Current period provision 776 113 2,265 1,938 195 5,287 Payments and credits (769) (238) (2,374) (1,979) (277) (5,637) Reserve balance, December 31, 2019 182 691 927 168 82 2,050 Current period provision 621 120 2,174 1,925 196 5,036 Payments and credits (613) (236) (2,322) (1,909) (193) (5,273) Reserve balance, December 31, 2020 $ 190 $ 575 $ 779 $ 184 $ 85 $ 1,813 Included in Rebates in the table above are cooperative advertising credits due to customers of approximately $32 million and $29 million as of December 31, 2020 and 2019, respectively, 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. These judgments include the potential impact of the COVID-19 pandemic on, among other things, unemployment and related changes in customer health insurance levels, customer behaviors during the COVID-19 pandemic and government stimulus bills that focus on ensuring availability and access to lifesaving drugs during a public health crisis. This evaluation may result in an increase or decrease in the experience rate that is applied to current and future sales, or require an adjustment related to past sales, or both. If the trend in actual amounts of variable consideration varies from the Company’s prior estimates, the Company adjusts these estimates when such trend is believed to be sustainable. At that time, the Company would record the necessary adjustments which would affect net product revenue and earnings reported in the current period. 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 and allowances 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 a product within a specified period of time before and after its expiration date, excluding European businesses which generally do not provide 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 $76 million for the year 2020. 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 warrant revision to the 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) 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. Over the last several years, the Company increased its focus on maximizing operational efficiencies and continues to take actions to reduce product returns, including but not limited to: (i) monitoring and reducing customer inventory levels, (ii) instituting disciplined pricing policies and (iii) improving contracting. These actions have had the effect of improving sales return experience, primarily related to branded and generic products. Sales return provisions for 2020 and 2019 were $120 million and $113 million, respectively, and includes reductions in variable consideration for sales return provisions related to past sales of approximately $38 million and $80 million, respectively. 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 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 estimated rates used in the Medicaid rebate reserve would have impacted the Company’s pre-tax earnings by approximately $76 million for 2020. 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 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 years 2020 and 2019 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 products primarily to wholesalers, and in some instances to large pharmacy chains such as CVS and Walmart. 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. Included as a reduction of current period provisions for Distribution Fees in the table above are price appreciation credits of $15 million and $11 million for the years 2020 and 2019, respectively. 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 Sales commissions are generally attributed to periods shorter than one year and therefore are expensed when incurred. Sales commissions are included in selling, general and administrative expenses. Financing Component
Research and Development Expenses	Research and Development Expenses Costs related to internal research and development programs, including costs associated with the development of acquired IPR&D, are expensed as goods are delivered or services are performed. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Milestone payments made to third parties before a product receives regulatory approval, but after the milestone is determined to be probable, are expensed and included in Research and development expenses . Milestone payments made to third parties after regulatory approval is received are capitalized and amortized over the estimated useful life of the approved product. Amounts due from third parties as reimbursement of development activities conducted under certain research and development arrangements are recognized as a reduction of Research and development expenses.
Legal Costs	Legal Costs Legal fees and other costs related to litigation and other legal proceedings or services are expensed as incurred and are included in Selling, general and administrative expenses. Certain legal costs associated with acquisitions are included in Acquisition-related costs and certain legal costs associated with divestitures, legal settlements and other business development activities are included in Litigation and other matters or Net (gain) loss on sales of assets within Other expense (income), net, as appropriate. Legal costs expensed are reported net of expected insurance recoveries. A claim for insurance recovery is recognized when realization becomes probable
Advertising Costs	Advertising CostsAdvertising costs comprise product samples, print media, promotional materials and television advertising and are expensed on the first use of the advertisement.
Share-Based Compensation	Share-Based Compensation The Company recognizes all share-based payments to employees, including grants of employee stock options and restricted share units (“RSUs”), at estimated fair value. The Company amortizes the fair value of stock option or RSU grants on a straight-line basis over the requisite service period of the individual stock option or RSU grant, which generally equals the vesting period. Stock option and RSU forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Share-based compensation is recorded in Research and development expenses and Selling, general and administrative expenses, as appropriate.
Interest Expense	Interest Expense Interest expense includes standby fees, the amortization of debt discounts and deferred financing costs, accretion of debt premiums and the amortization of amounts excluded from the assessment of effectiveness related to the Company's cross-currency swaps. Interest costs are expensed as incurred, except to the extent such interest is related to construction in progress, in which case interest is capitalized.
Income Taxes	Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the temporary differences between the financial statement and income tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. A valuation allowance is provided for the portion of deferred tax assets that is more likely than not to remain unrealized. Deferred tax assets and liabilities are measured using enacted tax rates and laws. Deferred tax assets for outside basis differences in investments in subsidiaries are only recognized if the difference will be realized in the foreseeable future. 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. The tax benefit from an uncertain tax position is recognized only if it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority, based on the technical merits of the position. The tax benefits recognized from such position are measured based on the amount for which there is a greater than 50% likelihood of being realized upon settlement. Liabilities associated with uncertain tax positions are classified as long-term unless expected to be paid within one year. Interest and penalties related to uncertain tax positions, if any, are recorded in the provision for income taxes and classified with the related liability on the consolidated balance sheets.
Loss Per Share Attributable to Bausch Health Companies Inc.	Loss Per Share Attributable to Bausch Health Companies Inc. Basic loss per share attributable to Bausch Health Companies Inc. is calculated by dividing Net loss attributable to Bausch Health Companies Inc. by the weighted-average number of common shares outstanding during the reporting period. Diluted loss per share attributable to Bausch Health Companies Inc. is calculated by dividing Net loss attributable to Bausch Health Companies Inc. by the weighted-average number of common shares outstanding during the reporting period
Comprehensive Loss	Comprehensive Loss Comprehensive loss comprises Net loss and Other comprehensive (loss) income. Other comprehensive (loss) income includes items such as foreign currency translation adjustments, unrealized holding gains and losses on available-for-sale and other investments and certain pension and other postretirement benefit plan adjustments. Accumulated other comprehensive loss is recorded as a component of shareholders’ equity.
Contingencies	Contingencies In the normal course of business, the Company is subject to loss contingencies, such as claims and assessments arising from litigation and other legal proceedings, contractual indemnities, product and environmental liabilities and tax matters. Accruals for loss contingencies are recorded when the Company determines that it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. If the estimate of the amount of the loss is a range and some amount within the range appears to be a better estimate than any other amount within the range, that amount is accrued as a liability. If no amount within the range is a better estimate than any other amount, the minimum amount of the range is accrued as a liability. These accruals are adjusted periodically as assessments change or additional information becomes available.
Employee Benefit Plans	Employee Benefit Plans The Company sponsors various retirement and pension plans, including defined benefit pension plans, defined contribution plans and a participatory defined benefit postretirement plan. The determination of defined benefit pension and postretirement plan obligations and their associated expenses requires the use of actuarial valuations to estimate the benefits employees earn while working, as well as the present value of those benefits. Net actuarial gains and losses that exceed 10 percent of the greater of the plan’s projected benefit obligations or the market-related value of assets are amortized to earnings over the shorter of the estimated average future service period of the plan participants (or the estimated average future lifetime of the plan participants if the majority of plan participants are inactive) or the period until any anticipated final plan settlements.
Adoption of New Accounting Standards and Recently Issued Accounting Standards, Not Adopted as of December 31, 2020	Adoption of New Accounting Standards 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 was effective for the Company beginning January 1, 2020 and was applied using a modified retrospective approach through a cumulative-effect adjustment to accumulated deficit, which resulted in an increase to Accumulated deficit of less than $1 million. The application of this guidance did not have a material effect on the Company's results of operations and cash flows. In August 2018, the FASB issued guidance modifying the disclosure requirements for fair value measurement. The guidance was effective for the Company beginning January 1, 2020. The application of this guidance did not have a material effect on the Company's disclosures. In March 2020, the FASB issued guidance providing optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or a reference rate that is expected to be discontinued as a result of reference rate reform. Optional expedients are provided for contract modification accounting within the areas of receivables, debt, leases, derivatives and hedging. The optional amendments are effective for all entities as of March 12, 2020, through December 31, 2022. During 2020, the Company has not entered into any contract modifications in which the optional expedients were applied. However, if prior to December 31, 2022 the Company enters into a contract modification in which the optional expedients are applied, the Company will evaluate 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 employers that sponsor defined benefit pension or other postretirement plans. The guidance was effective for annual periods ending after December 15, 2020. The application of this guidance did not have a material effect on the Company's disclosures. Recently Issued Accounting Standards, Not Adopted as of December 31, 2020 In December 2019, the FASB issued guidance that simplifies the accounting for income taxes by eliminating certain exceptions to the guidance related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for annual periods beginning after December 15, 2020. The application of this guidance is not expected to have a material effect on the Company's financial position, results of operations and cash flows.
Segment Reporting	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.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of activity in allowance for credit losses	The activity in the allowance for credit losses for trade receivables for the years 2020, 2019 and 2018 is as follows. (in millions) 2020 2019 2018 Balance, beginning of period $ 48 $ 47 $ 97 Retrospective effect of application of new accounting standard 1 — — Provision 2 10 4 Write-offs (12) (10) (50) Recoveries 3 1 2 Foreign exchange and other (3) — (6) Balance, end of period $ 39 $ 48 $ 47
Schedule of estimated useful lives of property, plant and equipment	Depreciation is calculated using the straight-line method, commencing when the assets become available for productive use, based on the following estimated useful lives: Land improvements 15 - 30 years Buildings and improvements Up to 40 years Machinery and equipment 3 - 20 years Other equipment 3 - 10 years Equipment on operating lease Up to 5 years Leasehold improvements Lesser of term of lease or 10 years
Schedule of estimated useful lives of intangible assets	Amortization is calculated primarily using the straight-line method based on the following estimated useful lives: Product brands 1 - 20 years Corporate brands 7 - 20 years Product rights/patents 4 - 15 years Partner relationships 7 - 9 years Out-licensed technology and other 8 - 9 years
Summary of variable consideration provisions	The following table presents the activity and ending balances of the Company’s variable consideration provisions the years 2020 and 2019. (in millions) Discounts Returns Rebates Chargebacks Distribution Total Reserve balance, January 1, 2019 $ 175 $ 813 $ 1,024 $ 209 $ 163 $ 2,384 Acquisition of Synergy — 3 12 — 1 16 Current period provision 776 113 2,265 1,938 195 5,287 Payments and credits (769) (238) (2,374) (1,979) (277) (5,637) Reserve balance, December 31, 2019 182 691 927 168 82 2,050 Current period provision 621 120 2,174 1,925 196 5,036 Payments and credits (613) (236) (2,322) (1,909) (193) (5,273) Reserve balance, December 31, 2020 $ 190 $ 575 $ 779 $ 184 $ 85 $ 1,813

ACQUISITIONS, LICENSING AGREE_2

ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Estimated fair values of assets acquired and liabilities assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed related to the acquisition of certain assets of Synergy as of the acquisition date: (in millions) Accounts receivable $ 7 Inventories 24 Prepaid expenses and other current assets 5 Product brand intangible assets (estimated useful life 7 years) 159 Accounts payable (1) Accrued expenses (17) Total identifiable net assets 177 Goodwill 3 Total fair value of consideration transferred $ 180
Schedule of carrying amounts of assets and liabilities held for sale	The carrying amounts of the assets and liabilities held for sale included in the Consolidated Balance Sheet as of December 31, 2020 are as follows: (in millions) Prepaid expenses and other current assets: Trade receivables, net $ 91 Inventories, net 63 Prepaid expenses and other current assets 8 $ 162 Other non-current assets: Property, plant and equipment, net $ 68 Goodwill and Intangible assets, net 245 Deferred tax assets, net 2 $ 315 Accrued and other current liabilities: Accounts payable $ 7 Accrued and other current liabilities 28 $ 35 Other non-current liabilities: Deferred tax liabilities, net $ 36 Other non-current liabilities 21 $ 57

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of components and classification of financial 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 as of: December 31, 2020 December 31, 2019 (in millions) Carrying Level 1 Level 2 Level 3 Carrying Level 1 Level 2 Level 3 Assets: Cash equivalents $ 41 $ 8 $ 33 $ — $ 2,696 $ 2,646 $ 50 $ — Restricted Cash $ 1,211 $ 1,211 $ — $ — $ 1 $ 1 $ — $ — Foreign currency exchange contracts $ 3 $ — $ 3 $ — $ — $ — $ — $ — Liabilities: Acquisition-related contingent consideration $ 328 $ — $ — $ 328 $ 316 $ — $ — $ 316 Cross-currency swaps $ 70 $ — $ 70 $ — $ 13 $ — $ 13 $ — Foreign currency exchange contracts $ 11 $ — $ 11 $ — $ — $ — $ — $ —
Schedule of effect of hedging instruments on financial statements	The following table presents the effect of hedging instruments on the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Loss for 2020 and 2019: (in millions) 2020 2019 Loss recognized in Other comprehensive loss $ (57) $ (22) Gain excluded from assessment of hedge effectiveness $ 23 $ 9 Location of gain of excluded component Interest Expense
Schedule of reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs	The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for the years 2020 and 2019: (in millions) 2020 2019 Beginning balance, January 1, $ 316 $ 339 Adjustments to Acquisition-related contingent consideration: Accretion for the time value of money $ 23 $ 22 Fair value adjustments 25 (10) Acquisition-related contingent consideration adjustments 48 12 Payments / Settlements (36) (36) Foreign currency translation adjustment included in other comprehensive loss — 1 Ending balance, December 31, 328 316 Current portion 112 54 Non-current portion $ 216 $ 262
Schedule of assets and liabilities measured at fair value on a non-recurring basis	The following table presents the components and classification of the Company’s financial assets and liabilities measured at fair value on a non-recurring basis: December 31, 2020 December 31, 2019 (in millions) Carrying Level 1 Level 2 Level 3 Carrying Level 1 Level 2 Level 3 Other non-current assets: Non-current assets held for sale $ 245 $ — $ — $ 245 $ 39 $ — $ — $ 39

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of the components of inventories	Inventories, net, as of December 31, 2020 and 2019 consist of: (in millions) 2020 2019 Raw materials $ 286 $ 319 Work in process 143 149 Finished goods 665 639 $ 1,094 $ 1,107

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	The major components of property, plant and equipment as of December 31, 2020 and 2019 consist of: (in millions) 2020 2019 Land $ 79 $ 79 Buildings and improvements 686 696 Machinery and equipment 1,722 1,606 Other equipment and leasehold improvements 360 369 Equipment on operating lease 65 56 Construction in progress 436 301 3,348 3,107 Accumulated depreciation (1,781) (1,641) $ 1,567 $ 1,466

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of components of finite-lived intangible assets	The major components of intangible assets as of December 31, 2020 and 2019 consist of: Weighted- 2020 2019 (in millions) Gross Accumulated Net Gross Accumulated Net Finite-lived intangible assets: Product brands 6 $ 20,890 $ (14,914) $ 5,976 $ 21,011 $ (13,544) $ 7,467 Corporate brands 7 907 (404) 503 930 (338) 592 Product rights/patents 3 3,305 (3,055) 250 3,297 (2,887) 410 Partner relationships 1 169 (168) 1 166 (165) 1 Technology and other 3 210 (200) 10 209 (189) 20 Total finite-lived intangible assets 25,481 (18,741) 6,740 25,613 (17,123) 8,490 Acquired IPR&D not in service NA 7 — 7 13 — 13 B&L Trademark NA 1,698 — 1,698 1,698 — 1,698 $ 27,186 $ (18,741) $ 8,445 $ 27,324 $ (17,123) $ 10,201
Schedule of components of indefinite-lived intangible assets	The major components of intangible assets as of December 31, 2020 and 2019 consist of: Weighted- 2020 2019 (in millions) Gross Accumulated Net Gross Accumulated Net Finite-lived intangible assets: Product brands 6 $ 20,890 $ (14,914) $ 5,976 $ 21,011 $ (13,544) $ 7,467 Corporate brands 7 907 (404) 503 930 (338) 592 Product rights/patents 3 3,305 (3,055) 250 3,297 (2,887) 410 Partner relationships 1 169 (168) 1 166 (165) 1 Technology and other 3 210 (200) 10 209 (189) 20 Total finite-lived intangible assets 25,481 (18,741) 6,740 25,613 (17,123) 8,490 Acquired IPR&D not in service NA 7 — 7 13 — 13 B&L Trademark NA 1,698 — 1,698 1,698 — 1,698 $ 27,186 $ (18,741) $ 8,445 $ 27,324 $ (17,123) $ 10,201
Schedule of estimated aggregate amortization expense for each of the five succeeding years	Estimated amortization expense of finite-lived intangible assets for the five years ending December 31 and thereafter are as follows: (in millions) 2021 2022 2023 2024 2025 Thereafter Total Amortization $ 1,389 $ 1,204 $ 1,030 $ 905 $ 822 $ 1,390 $ 6,740
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amounts of goodwill during the years ended December 31, 2020, 2019 and 2018 were as follows: (in millions) Bausch + Branded Rx U.S. Diversified Products Salix Ortho Dermatologics Diversified Products Total Balance, January 1, 2018 $ 6,016 $ 6,631 $ 2,946 $ — $ — $ — $ 15,593 Impairment of the Salix and Ortho Dermatologics reporting units — (2,213) — — — — (2,213) Realignment of Global Solta reporting unit goodwill (82) 115 (33) — — — — Goodwill reclassified to assets held for sale and subsequently disposed (2) — — — — — (2) Realignment of segment goodwill — (4,533) (2,913) 3,156 1,267 3,023 — Impairment of the Dentistry reporting unit — — — — — (109) (109) Foreign exchange and other (127) — — — — — (127) Balance, December 31, 2018 5,805 — — 3,156 1,267 2,914 13,142 Acquisition of certain assets of Synergy — — — 3 — — 3 Goodwill reclassified to assets held for sale (Note 5) (18) — — — — — (18) Foreign exchange and other (1) — — — — — (1) Balance, December 31, 2019 5,786 — — 3,159 1,267 2,914 13,126 Assets held for sale reclassified to goodwill (Note 5) 18 — — — — — 18 Goodwill reclassified to assets held for sale (Note 3) (217) — — — — — (217) Foreign exchange and other 117 — — — — — 117 Balance, December 31, 2020 $ 5,704 $ — $ — $ 3,159 $ 1,267 $ 2,914 $ 13,044

ACCRUED AND OTHER CURRENT LIA_2

ACCRUED AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Schedule of accrued and other current liabilities	Accrued and other current liabilities as of December 31, 2020 and 2019 consist of: (in millions) 2020 2019 Legal matters and related fees $ 1,672 $ 1,397 Product rebates 747 898 Product returns 575 691 Interest 341 305 Employee compensation and benefit costs 316 304 Income taxes payable 158 196 Other 767 720 $ 4,576 $ 4,511

FINANCING ARRANGEMENTS (Tables)

FINANCING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt	Principal amounts of debt obligations and principal amounts of debt obligations net of premiums, discounts and issuance costs as of December 31, 2020 and 2019 consists of the following: 2020 2019 (in millions) Maturity Principal Amount Net of Premiums, Discounts and Issuance Costs Principal Amount Net of Premiums, Discounts and Issuance Costs Senior Secured Credit Facilities: 2023 Revolving Credit Facility June 2023 $ — $ — $ — $ — June 2025 Term Loan B Facility June 2025 3,298 3,220 3,869 3,768 November 2025 Term Loan B Facility November 2025 1,125 1,112 1,275 1,257 Senior Secured Notes: 6.50% Secured Notes March 2022 — — 1,250 1,242 7.00% Secured Notes March 2024 2,000 1,987 2,000 1,983 5.50% Secured Notes November 2025 1,750 1,736 1,750 1,733 5.75% Secured Notes August 2027 500 494 500 493 Senior Unsecured Notes: 5.50% March 2023 — — 402 400 5.875% May 2023 — — 1,448 1,441 4.50% euro-denominated debt May 2023 — — 1,682 1,674 6.125% April 2025 3,250 3,234 3,250 3,230 9.00% December 2025 1,500 1,478 1,500 1,473 9.25% April 2026 1,500 1,487 1,500 1,484 8.50% January 2027 1,750 1,755 1,750 1,756 7.00% January 2028 750 742 750 741 5.00% January 2028 1,250 1,236 1,250 1,234 6.25% February 2029 1,500 1,480 — — 5.00% February 2029 1,000 988 — — 7.25% May 2029 750 741 750 740 5.25% January 2030 1,250 1,235 1,250 1,234 5.25% February 2031 1,000 988 — — Other Various 12 12 12 12 Total long-term debt and other $ 24,185 23,925 $ 26,188 25,895 Less: Current portion of long-term debt and other — 1,234 Non-current portion of long-term debt $ 23,925 $ 24,661
Schedule of aggregate maturities of long-term debt	Maturities and Mandatory Payments Maturities and mandatory payments of debt obligations for the five succeeding years ending December 31 and thereafter are as follows: (in millions) 2021 $ — 2022 — 2023 — 2024 2,291 2025 10,632 Thereafter 11,262 Total gross maturities 24,185 Unamortized discounts (260) Total long-term debt and other $ 23,925

PENSION AND POSTRETIREMENT EM_2

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of amounts recognized in accumulated other comprehensive loss	The amounts included in Accumulated other comprehensive loss as of December 31, 2020 and 2019 were as follows: Pension Benefit Plans U.S. Postretirement U.S. Plan Non-U.S. Plans (in millions) 2020 2019 2020 2019 2020 2019 Unrecognized actuarial losses $ (21) $ (20) $ (76) $ (65) $ (3) $ (2) Unrecognized prior service credits $ — $ — $ 27 $ 26 $ 11 $ 14
Components of net periodic benefit cost	The following table provides the components of net periodic (benefit) cost for the Company’s defined benefit pension plans and postretirement benefit plan in 2020, 2019 and 2018: Pension Benefit Plans U.S. Postretirement U.S. Plan Non-U.S. Plans (in millions) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Service cost $ 1 $ 2 $ 2 $ 3 $ 3 $ 3 $ — $ — $ — Interest cost 6 8 7 4 5 5 1 1 1 Expected return on plan assets (13) (13) (15) (5) (5) (5) — — — Amortization of net loss — — — 2 1 1 — — — Amortization of prior service credit — — — (1) (1) (1) (3) (2) (2) Other — — — — 1 — — — — Net periodic (benefit) cost $ (6) $ (3) $ (6) $ 3 $ 4 $ 3 $ (2) $ (1) $ (1)
Components of the change in projected benefit obligations, change in plan assets and funded status	The table below presents components of the change in projected benefit obligation, change in plan assets and funded status for 2020 and 2019: Pension Benefit Plans U.S. Postretirement U.S. Plan Non-U.S. Plans (in millions) 2020 2019 2020 2019 2020 2019 Change in Projected Benefit Obligation Projected benefit obligation, beginning of year $ 227 $ 214 $ 259 $ 235 $ 41 $ 41 Service cost 1 2 3 3 — — Interest cost 6 8 4 5 1 1 Employee contributions — — — — — 1 Settlements — — (3) (2) — — Benefits paid (15) (15) (4) (8) (4) (4) Actuarial losses 17 18 13 30 1 2 Currency translation adjustments — — 22 (4) — — Projected benefit obligation, end of year 236 227 294 259 39 41 Change in Plan Assets Fair value of plan assets, beginning of year 216 187 161 147 — — Actual return on plan assets 29 42 11 17 — — Employee contributions — — — — — 1 Company contributions 1 2 8 10 4 3 Settlements — — (2) (2) — — Benefits paid (15) (15) (4) (8) (4) (4) Currency translation adjustments — — 15 (3) — — Fair value of plan assets, end of year 231 216 189 161 — — Funded status, end of year $ (5) $ (11) $ (105) $ (98) $ (39) $ (41) Recognized as: Accrued and other current liabilities $ — $ — $ (2) $ (2) $ (4) $ (5) Other non-current liabilities $ (5) $ (11) $ (103) $ (96) $ (35) $ (36)
Schedule of underfunded plans	Information for the underfunded pension benefit plans is as follows: U.S. Plan Non-U.S. Plans (in millions) 2020 2019 2020 2019 Projected benefit obligation $ 236 $ 227 $ 294 $ 259 Accumulated benefit obligation 236 227 286 251 Fair value of plan assets 231 216 189 161
Future benefit payments for the pension benefit plans	Future benefit payments over the next 10 years for the pension benefit plans and the postretirement benefit plan, which reflect expected future service, as appropriate, are expected to be paid as follows: (in millions) Pension Benefit Plans U.S. Postretirement U.S. Plan Non-U.S. Plans 2021 $ 14 $ 6 $ 4 2022 19 6 4 2023 17 7 4 2024 17 7 3 2025 17 7 3 2026-2030 75 42 12
Weighted-average assumptions used to determine net periodic benefit costs and benefit obligations	The weighted-average assumptions used to determine net periodic benefit costs and benefit obligations for 2020, 2019 and 2018 were as follows: Pension Benefit Plans U.S. Postretirement Benefit Plan 2020 2019 2018 2020 2019 2018 For Determining Net Periodic (Benefit) Cost U.S. Plans: Discount rate 3.16 % 4.25 % 3.56 % 3.04 % 4.16 % 3.47 % Expected rate of return on plan assets 6.25 % 7.25 % 7.50 % — — — Rate of compensation increase — — — — — — Interest crediting rate 5.00 % 5.00 % 5.00 % Non-U.S. Plans: Discount rate 1.68 % 2.39 % 2.29 % Expected rate of return on plan assets 2.98 % 3.46 % 3.66 % Rate of compensation increase 3.05 % 2.89 % 2.87 % Interest crediting rate — — — Pension Benefit Plans U.S. Postretirement Benefit Plan 2020 2019 2020 2019 For Determining Benefit Obligation U.S. Plans: Discount rate 2.25 % 3.16 % 2.09 % 3.04 % Rate of compensation increase — — — — Interest crediting rate 4.75 % 5.00 % Non-U.S. Plans: Discount rate 1.37 % 1.68 % Rate of compensation increase 2.60 % 3.05 % Interest crediting rate — —
Actual asset allocations	The following presents the actual asset allocation as of December 31, 2020 and 2019: 2020 2019 U.S. Plan Cash and cash equivalents 1 % 1 % Equity securities 39 % 55 % Fixed income securities 60 % 44 % Non-U.S. Plans Cash and cash equivalents 3 % 6 % Equity securities 28 % 25 % Fixed income securities 58 % 64 % Other 11 % 6 %
Fair value of pension and postretirement benefit plan assets assumed in connection with the Acquisition	The table below presents total plan assets by investment category as of December 31, 2020 and 2019 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value. There were no transfers between Level 1 and Level 2 during 2020 and 2019. Pension Benefit Plans - U.S. Plans December 31, 2020 December 31, 2019 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 2 $ — $ — $ 2 $ 1 $ — $ — $ 1 Commingled funds: Equity securities: U.S. broad market — 48 — 48 — 64 — 64 Emerging markets — 9 — 9 — 15 — 15 Worldwide developed markets — 20 — 20 — 26 — 26 Other assets — 14 — 14 — 15 — 15 Fixed income securities: Investment grade — 138 — 138 — 95 — 95 $ 2 $ 229 $ — $ 231 $ 1 $ 215 $ — $ 216 Pension Benefit Plans - Non-U.S. Plans December 31, 2020 December 31, 2019 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents $ — $ 5 $ — $ 5 $ — $ 9 $ — $ 9 Commingled funds: Equity securities: Emerging markets — 1 — 1 — 2 — 2 Worldwide developed markets — 51 — 51 — 38 — 38 Fixed income securities: Investment grade — 6 — 6 — 9 — 9 Global high yield — 1 — 1 — 3 — 3 Government bond funds 1 102 — 103 1 90 — 91 Other assets — 20 2 22 — 8 1 9 $ 1 $ 186 $ 2 $ 189 $ 1 $ 159 $ 1 $ 161

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Summary of right-of-use assets and right-of-use liabilities	Right-of-use assets and lease liabilities associated with the Company's operating leases are included in the Consolidated Balance Sheet as of December 31, 2020 and 2019 as follows: (in millions) 2020 2019 Right-of-use assets included in: Other non-current assets $ 259 $ 271 Lease liabilities included in: Accrued and other current liabilities $ 52 $ 53 Other non-current liabilities 227 240 Total lease liabilities $ 279 $ 293
Summary of lease expenses	Lease expense for the years 2020 and 2019 include: (in millions) 2020 2019 Operating lease costs $ 65 $ 62 Variable operating lease costs $ 12 $ 16
Summary of other operating lease information	Other information related to operating leases for 2020 and 2019 is as follows: (dollars in millions) 2020 2019 Cash paid from operating cash flows for amounts included in the measurement of lease liabilities $ 74 $ 73 Right-of-use assets obtained in exchange for new operating lease liabilities $ 39 $ 47 Weighted-average remaining lease term 7.6 years 8.2 years Weighted-average discount rate 6.2 % 6.2 %
Summary of operating lease future payments	As of December 31, 2020, future payments under noncancelable operating leases for each of the five succeeding years ending December 31 and thereafter are as follows: (in millions) 2021 $ 68 2022 53 2023 45 2024 35 2025 34 Thereafter 121 Total 356 Less: Imputed interest 77 Present value of remaining lease payments 279 Less: Current portion 52 Non-current portion $ 227

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of the components and classification of share-based compensation expense	The components and classification of share-based compensation expense related to stock options and RSUs for the years 2020, 2019 and 2018 were as follows: (in millions) 2020 2019 2018 Stock options $ 15 $ 21 $ 23 RSUs 90 81 64 Share-based compensation expense $ 105 $ 102 $ 87 Research and development expenses $ 11 $ 9 $ 9 Selling, general and administrative expenses 94 93 78 Share-based compensation expense $ 105 $ 102 $ 87
Schedule of weighted-average assumption as of the date of grant using the Black Scholes option-pricing model	The fair values of all stock options granted for the years 2020, 2019 and 2018 were estimated as of the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: 2020 2019 2018 Expected stock option life (years) 3.0 3.0 3.0 Expected volatility 38.7 % 46.5 % 54.0 % Risk-free interest rate 1.2 % 2.5 % 2.7 % Expected dividend yield — % — % — %
Summary of stock option activity	The following table summarizes stock option activity during 2020: (in millions, except per share amounts) Options Weighted- Weighted- Aggregate Outstanding, January 1, 2020 7.1 $ 26.99 Granted 2.3 $ 24.74 Exercised (0.4) $ 14.65 Expired or forfeited (0.3) $ 72.40 Outstanding, December 31, 2020 8.7 $ 25.59 7.2 $ 14 Vested and expected to vest, December 31, 2020 8.2 $ 25.73 7.1 $ 14 Vested and exercisable, December 31, 2020 4.8 $ 27.74 6.0 $ 11
Summary of non-vested time-based RSU activity	The following table summarizes non-vested time-based RSU activity during 2020: (in millions, except per share amounts) Time-Based Weighted- Non-vested, January 1, 2020 6.1 $ 20.54 Granted 3.3 $ 21.92 Vested (3.4) $ 19.37 Forfeited (0.3) $ 21.78 Non-vested, December 31, 2020 5.7 $ 21.98
Schedule of assumptions used to calculate the fair values of performance-based RSUs	The fair values of TSR performance-based RSUs granted during 2020, 2019 and 2018 were estimated with the following assumptions: 2020 2019 2018 Contractual term (years) 3.0 3.0 3.0 Expected Company share volatility 38.6% 46.5% 54.2% Risk-free interest rate 1.2% 2.5% 2.7%
Summary of non-vested performance-based RSU activity	The following table summarizes non-vested performance-based RSU activity during 2020: (in millions, except per share amounts) Performance-based Weighted- Non-vested, January 1, 2020 2.0 $ 25.80 Granted 0.9 $ 26.61 Vested (0.6) $ 19.02 Non-vested, December 31, 2020 2.3 $ 28.10

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of the components of accumulated other comprehensive loss	Accumulated other comprehensive loss as of December 31, 2020 and 2019 consists of: (in millions) 2020 2019 Foreign currency translation adjustment $ (2,077) $ (2,046) Pension adjustment, net of tax (56) (40) Accumulated other comprehensive loss $ (2,133) $ (2,086)

RESEARCH AND DEVELOPMENT (Table

RESEARCH AND DEVELOPMENT (Tables)	12 Months Ended
	Dec. 31, 2020
Research and Development [Abstract]
Summary of research and development	Research and development costs for the years 2020, 2019 and 2018 consists of: (in millions) 2020 2019 2018 Product related research and development $ 420 $ 434 $ 376 Quality assurance 32 37 37 Research and development $ 452 $ 471 $ 413

OTHER EXPENSE (INCOME), NET (Ta

OTHER EXPENSE (INCOME), NET (Tables)	12 Months Ended
	Dec. 31, 2020
Other Income and Expenses [Abstract]
Schedule of other (expense) income	Other expense (income), net for the years 2020, 2019 and 2018 consists of: (in millions) 2020 2019 2018 Litigation and other matters $ 422 $ 1,401 $ (27) Acquired in-process research and development costs 32 41 1 Net (gain) loss on sales of assets (1) (31) 6 Acquisition-related costs — 8 1 Other, net 1 (5) (1) Other expense (income), net $ 454 $ 1,414 $ (20)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of loss before benefit from income taxes	The components of Loss before benefit from income taxes for 2020, 2019 and 2018 consist of: (in millions) 2020 2019 2018 Domestic $ (410) $ (2,396) $ (1,475) Foreign (524) 559 (2,679) $ (934) $ (1,837) $ (4,154)
Components of benefit from income taxes	The components of Benefit from income taxes for 2020, 2019 and 2018 consist of: (in millions) 2020 2019 2018 Current: Domestic $ (8) $ (12) $ — Foreign (216) (116) (327) (224) (128) (327) Deferred: Domestic 9 (5) 17 Foreign 590 187 320 599 182 337 $ 375 $ 54 $ 10
Reconciliation of benefit from income taxes from the expected amount calculated by applying the Canadian statutory rate to loss before benefit of income taxes	The Benefit from income taxes differs from the expected amount calculated by applying the Company’s Canadian statutory rate of 26.9% to Loss before benefit from income taxes for 2020, 2019 and 2018 as follows: (in millions) 2020 2019 2018 Loss before benefit from income taxes $ (934) $ (1,837) $ (4,154) Benefit from income taxes Expected benefit from income taxes at Canadian statutory rate $ 251 $ 494 $ 1,117 Non-deductible amount of share-based compensation (9) (7) (10) Adjustments to tax attributes 26 (99) (4) Change in valuation allowance related to foreign tax credits and NOLs 62 21 (3) Change in valuation allowance on Canadian deferred tax assets and tax rate changes 687 (142) (875) Change in uncertain tax positions (163) (350) (47) Foreign tax rate differences (128) 186 (3) Non-deductible portion of Goodwill impairments — — (488) Tax benefit on intra-entity transfers (338) — 356 Other (13) (49) (33) $ 375 $ 54 $ 10
Schedule of tax effect of major items recorded as deferred tax assets and liabilities and valuation allowance	Deferred tax assets and liabilities as of December 31, 2020 and 2019 consist of: (in millions) 2020 2019 Deferred tax assets: Tax loss carryforwards $ 2,924 $ 2,911 Provisions 1,004 641 Research and development tax credits 172 155 Scientific Research and Experimental Development pool 55 52 Tax credit carryforwards 20 25 Deferred revenue 9 5 Unrealized FX on U.S. dollar debt and other financing cost — 94 Prepaid expenses 27 41 Share-based compensation 16 19 Other 24 23 Total deferred tax assets 4,251 3,966 Less valuation allowance (2,252) (2,831) Net deferred tax assets 1,999 1,135 Deferred tax liabilities: Intangible assets 228 53 Plant, equipment and technology 89 56 Outside basis differences 71 41 Unrealized FX on U.S. dollar debt and other financing cost 2 — Total deferred tax liabilities 390 150 Net deferred tax asset $ 1,609 $ 985 The following table presents a reconciliation of the deferred tax asset valuation allowance for 2020, 2019 and 2018: (in millions) 2020 2019 2018 Balance, beginning of year $ 2,831 $ 2,913 $ 2,001 Charged to Benefit from income taxes (773) 13 870 Charged to other accounts 194 (95) 42 Balance, end of year $ 2,252 $ 2,831 $ 2,913
Summary of open tax years by jurisdiction	Jurisdiction: Open Years United States - Federal 2015 - 2019 Canada 2005 - 2019 Germany 2014 - 2019 France 2013 - 2019 China 2016 - 2019 Ireland 2016 - 2019 Netherlands 2016 - 2019 Australia 2011 - 2019
Reconciliation of the beginning and ending amounts of unrecognized tax benefits	The following table presents a reconciliation of the unrecognized tax benefits for 2020, 2019 and 2018: (in millions) 2020 2019 2018 Balance, beginning of year $ 1,002 $ 654 $ 598 Additions based on tax positions related to the current year 66 361 18 Additions for tax positions of prior years 171 63 55 Reductions for tax positions of prior years (209) (58) (11) Lapse of statute of limitations (5) (18) (6) Balance, end of year $ 1,025 $ 1,002 $ 654

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of calculation of loss per share	Loss per share attributable to Bausch Health Companies Inc. for 2020, 2019 and 2018 were calculated as follows: (in millions, except per share amounts) 2020 2019 2018 Net loss attributable to Bausch Health Companies Inc. $ (560) $ (1,788) $ (4,148) Basic and diluted weighted-average common shares 355.0 352.1 351.3 Basic and diluted loss per share attributable to Bausch Health Companies Inc. $ (1.58) $ (5.08) $ (11.81)

SUPPLEMENTAL CASH FLOW DISCLO_2

SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Disclosures	Supplemental cash flow disclosures for 2020, 2019 and 2018 are as follows: (in millions) 2020 2019 2018 Other payments Interest paid $ 1,474 $ 1,537 $ 1,665 Income taxes paid $ 162 $ 172 $ 138

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of segment revenues and profit	Segment revenues and profits for the years 2020, 2019 and 2018 were as follows: (in millions) 2020 2019 2018 Revenues: Bausch + Lomb $ 3,411 $ 3,774 $ 3,661 Salix 1,904 2,022 1,749 International Rx 1,185 1,158 1,160 Ortho Dermatologics 548 560 608 Diversified Products 979 1,087 1,202 Total revenues $ 8,027 $ 8,601 $ 8,380 Segment profit: Bausch + Lomb $ 907 $ 1,115 $ 1,080 Salix 1,338 1,349 1,149 International Rx 388 354 345 Ortho Dermatologics 228 216 249 Diversified Products 717 801 925 Total segment profit 3,578 3,835 3,748 Corporate (619) (609) (605) Amortization of intangible assets (1,645) (1,897) (2,644) Goodwill impairments — — (2,322) Asset impairments, including loss on assets held for sale (114) (75) (568) Restructuring, integration and separation costs (22) (31) (22) Acquisition-related contingent consideration (48) (12) 9 Other (expense) income, net (454) (1,414) 20 Operating income (loss) 676 (203) (2,384) Interest income 13 12 11 Interest expense (1,534) (1,612) (1,685) Loss on extinguishment of debt (59) (42) (119) Foreign exchange and other (30) 8 23 Loss before benefit from income taxes $ (934) $ (1,837) $ (4,154)
Schedule of capital expenditures, depreciation and amortization by segment	Capital expenditures by segment for the years 2020, 2019 and 2018 were as follows: (in millions) 2020 2019 2018 Capital expenditures: Bausch + Lomb $ 253 $ 186 $ 104 Salix 3 2 2 International Rx 29 39 35 Ortho Dermatologics 2 1 1 Diversified Products 2 2 2 289 230 144 Corporate 13 40 13 Total capital expenditures $ 302 $ 270 $ 157
Schedule of revenues by product and by product category	Revenues by segment and product category were as follows: (in millions) Bausch + Lomb Salix International Rx Ortho Dermatologics Diversified Products Total For the year ended December 31, 2020 Pharmaceuticals $ 506 $ 1,899 $ 255 $ 275 $ 745 $ 3,680 Devices 1,313 — — 253 — 1,566 OTC 1,311 — 112 — 7 1,430 Branded and Other Generics 250 — 779 — 219 1,248 Other revenues 31 5 39 20 8 103 $ 3,411 $ 1,904 $ 1,185 $ 548 $ 979 $ 8,027 For the year ended December 31, 2019 Pharmaceuticals $ 623 $ 2,022 $ 268 $ 353 $ 813 $ 4,079 Devices 1,524 — — 193 — 1,717 OTC 1,322 — 119 — 6 1,447 Branded and Other Generics 256 — 734 — 256 1,246 Other revenues 49 — 37 14 12 112 $ 3,774 $ 2,022 $ 1,158 $ 560 $ 1,087 $ 8,601 For the year ended December 31, 2018 Pharmaceuticals $ 617 $ 1,752 $ 280 $ 455 $ 930 $ 4,034 Devices 1,505 — — 135 — 1,640 OTC 1,282 — 118 — 7 1,407 Branded and Other Generics 225 — 721 — 244 1,190 Other revenues 32 (3) 41 18 21 109 $ 3,661 $ 1,749 $ 1,160 $ 608 $ 1,202 $ 8,380
Schedule of revenues and long-lived assets by geographic region	Revenues are attributed to a geographic region based on the location of the customer for the years 2020, 2019 and 2018 were as follows: (in millions) 2020 2019 2018 U.S. and Puerto Rico $ 4,791 $ 5,164 $ 5,011 China 341 368 361 Canada 331 339 319 Egypt 243 218 178 Poland 238 231 218 Japan 226 241 226 Mexico 225 228 211 France 179 201 205 Germany 144 150 170 Russia 137 180 154 United Kingdom 86 115 117 Spain 78 86 83 Other 1,008 1,080 1,127 $ 8,027 $ 8,601 $ 8,380
Schedule of assets by geographic region	Long-lived assets consisting of property, plant and equipment, net of accumulated depreciation, are attributed to geographic regions based on their physical location as of December 31, 2020 and 2019 were as follows: (in millions) 2020 2019 U.S. and Puerto Rico $ 725 $ 656 Ireland 328 255 Canada 110 103 Poland 83 90 Germany 80 68 Mexico 49 50 France 34 30 China 31 27 Serbia 30 27 Italy 23 22 Other 74 138 $ 1,567 $ 1,466
Schedule of external customers that accounted for 10% or more of total revenues	Customers that accounted for 10% or more of total revenues were as follows: 2020 2019 2018 McKesson Corporation 17% 17% 18% AmerisourceBergen Corporation 17% 16% 18% Cardinal Health, Inc. 13% 14% 13%

SUPPLEMENTARY DATA (UNAUDITED)

SUPPLEMENTARY DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	Selected unaudited quarterly consolidated financial data are shown below: 2020 (in millions, except per share amounts) First Second Third Fourth Revenue $ 2,012 $ 1,664 $ 2,138 $ 2,213 Expenses 1,764 1,691 1,678 2,218 Operating income (loss) $ 248 $ (27) $ 460 $ (5) Net (loss) income attributable to Bausch Health Companies Inc. $ (152) $ (326) $ 71 $ (153) Basic and Diluted (loss) earnings per share attributable to Bausch Health Companies Inc. $ (0.43) $ (0.92) $ 0.20 $ (0.43) Net cash provided by operating activities $ 261 $ 200 $ 256 $ 394 2019 (in millions, except per share amounts) First Second Third Fourth Revenue $ 2,016 $ 2,152 $ 2,209 $ 2,224 Expenses 1,729 1,895 1,880 3,300 Operating income (loss) $ 287 $ 257 $ 329 $ (1,076) Net loss attributable to Bausch Health Companies Inc. $ (52) $ (171) $ (49) $ (1,516) Basic and Diluted loss per share attributable to Bausch Health Companies Inc. $ (0.15) $ (0.49) $ (0.14) $ (4.30) Net cash provided by operating activities $ 413 $ 339 $ 515 $ 234

DESCRIPTION OF BUSINESS - Narra

DESCRIPTION OF BUSINESS - Narrative (Details)	Dec. 31, 2020country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which entity operates	100

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Concentrations of Credit Risk (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)wholesaler	Dec. 31, 2019USD ($)
Concentrations of Credit Risk
Maximum term of original maturity to classify instruments as cash and cash equivalents (less than)	3 months
Percentage of net trade receivables accounted for by largest wholesale customers	38.00%
Argentina, Brazil, Egypt, Greece, Serbia, Turkey, Ukraine, Venezuela and Vietnam
Concentrations of Credit Risk
Net trade receivable	$ 166	$ 156
Past due period for receivables to be negligible (less than)	90 days
Period net trade receivable balance outstanding (more than)	90 days
Portion of net trade receivables that is past due	$ 2
Trade receivables | Three largest U.S. wholesaler customers | Credit concentration
Concentrations of Credit Risk
Number of largest wholesale customers | wholesaler	3

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Activity in Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Allowance for doubtful accounts	$ 39	$ 47	$ 97
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	48	47	97
Retrospective effect of application of new accounting standard	1	0	0
Provision	2	10	4
Write-offs	(12)	(10)	(50)
Recoveries	3	1	2
Foreign exchange and other	(3)	0	(6)
Balance, end of period	$ 39	$ 48	$ 47

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Minimum | Land improvements
Property, plant and equipment [Line Items]
Estimated useful lives	15 years
Minimum | Machinery and equipment
Property, plant and equipment [Line Items]
Estimated useful lives	3 years
Minimum | Other equipment
Property, plant and equipment [Line Items]
Estimated useful lives	3 years
Maximum | Land improvements
Property, plant and equipment [Line Items]
Estimated useful lives	30 years
Maximum | Buildings and improvements
Property, plant and equipment [Line Items]
Estimated useful lives	40 years
Maximum | Machinery and equipment
Property, plant and equipment [Line Items]
Estimated useful lives	20 years
Maximum | Other equipment
Property, plant and equipment [Line Items]
Estimated useful lives	10 years
Maximum | Equipment on operating lease
Property, plant and equipment [Line Items]
Estimated useful lives	5 years
Maximum | Leasehold improvements
Property, plant and equipment [Line Items]
Estimated useful lives	10 years

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2020
Product brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	6 years
Corporate brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	7 years
Product rights/patents
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	3 years
Partner relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	1 year
Out-licensed technology and other
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	3 years
Minimum | Product brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	1 year
Minimum | Corporate brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	7 years
Minimum | Product rights/patents
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	4 years
Minimum | Partner relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	7 years
Minimum | Out-licensed technology and other
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	8 years
Maximum | Product brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	20 years
Maximum | Corporate brands
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	20 years
Maximum | Product rights/patents
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	15 years
Maximum | Partner relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	9 years
Maximum | Out-licensed technology and other
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	9 years

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition, Variable Consideration Provisions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	$ 2,050	$ 2,384
Acquisition of Synergy		16
Current period provision	5,036	5,287
Payments and credits	(5,273)	(5,637)
Balance, end of year	1,813	2,050
Discounts and Allowances
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	182	175
Acquisition of Synergy		0
Current period provision	621	776
Payments and credits	(613)	(769)
Balance, end of year	190	182
Returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	691	813
Acquisition of Synergy		3
Current period provision	120	113
Payments and credits	(236)	(238)
Balance, end of year	575	691
Rebates
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	927	1,024
Acquisition of Synergy		12
Current period provision	2,174	2,265
Payments and credits	(2,322)	(2,374)
Balance, end of year	779	927
Chargebacks
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	168	209
Acquisition of Synergy		0
Current period provision	1,925	1,938
Payments and credits	(1,909)	(1,979)
Balance, end of year	184	168
Distribution Fees
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	82	163
Acquisition of Synergy		1
Current period provision	196	195
Payments and credits	(193)	(277)
Balance, end of year	$ 85	$ 82

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition, Narrative (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Cooperative advertising credits included in rebates	$ 1,813				$ 2,050				$ 1,813	$ 2,050	$ 2,384
Settlement period for cash discounts and allowances									1 month
1% change in estimated return rates, Impact on pre-tax earnings									$ 76
Sales return provisions									5,036	5,287
1% change in volume of product sold through to Medicaid plan participants, Impact on pre-tax earnings									76
Price appreciation credits	2,213	$ 2,138	$ 1,664	$ 2,012	2,224	$ 2,209	$ 2,152	$ 2,016	8,027	8,601	8,380
Price Appreciation Credit
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Price appreciation credits									$ 15	11
Minimum
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Payment terms									30 days
Maximum
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Payment terms									90 days
Rebates, Advertising Credits Portion
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Cooperative advertising credits included in rebates	32				29				$ 32	29
Returns
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Cooperative advertising credits included in rebates	$ 575				$ 691				575	691	$ 813
Sales return provisions									120	113
Reduction in variable consideration provision, adjustment									$ 38	$ 80

SIGNIFICANT ACCOUNTING POLIC_10

SIGNIFICANT ACCOUNTING POLICIES - Leases (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Right-of-use asset	$ 259	$ 271	$ 302
Lease liability	$ 279	$ 293	$ 302
Operating Lease, Liability, Statement of Financial Position [Extensible List]			us-gaap:OtherLiabilities
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year
Lease renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	20 years
Lease renewal term	5 years

SIGNIFICANT ACCOUNTING POLIC_11

SIGNIFICANT ACCOUNTING POLICIES - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Advertising expenses	$ 451	$ 544	$ 481

SIGNIFICANT ACCOUNTING POLIC_12

SIGNIFICANT ACCOUNTING POLICIES - Interest Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Capitalized interest	$ 45	$ 34

SIGNIFICANT ACCOUNTING POLIC_13

SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment	$ 605	$ 1,136	$ 2,815		$ 5,944
Deferred tax assets, net	$ 2,137	1,690
Tax benefit recognition, measurement percentage (greater than)	50.00%
Minimum period to classify uncertain tax position liabilities as long term liabilities	1 year
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets, net				$ 1,209
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment	$ (8,013)	(7,452)	$ (5,664)		(2,725)
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment		(1)			1,209
Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment		$ (1)		$ 1,209	$ 1,209

SIGNIFICANT ACCOUNTING POLIC_14

SIGNIFICANT ACCOUNTING POLICIES - Employee Benefit Plans (Details)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Threshold percentage for amortization of net actuarial gains and losses	10.00%

SIGNIFICANT ACCOUNTING POLIC_15

SIGNIFICANT ACCOUNTING POLICIES - Adoption of New Accounting Standards (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to accumulated deficit (less than)	$ (605)	$ (1,136)	$ (2,815)		$ (5,944)
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to accumulated deficit (less than)	$ 8,013	7,452	$ 5,664		2,725
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to accumulated deficit (less than)		1			(1,209)
Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to accumulated deficit (less than)		$ 1		$ (1,209)	$ (1,209)

ACQUISITIONS, LICENSING AGREE_3

ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE - Narrative (Details)	Sep. 21, 2020USD ($)	Mar. 06, 2019USD ($)	Oct. 16, 2018USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)businessCombination	Dec. 31, 2019USD ($)businessCombination	Dec. 31, 2018USD ($)businessCombination
Business Combinations
Other expense, net							$ 454,000,000	$ 1,414,000,000	$ (20,000,000)
Reduction of additional paid-in capital									$ 18,000,000
Number of other material business combinations | businessCombination							0	0	0
Held For Sale
Business Combinations
Impairment of long-lived assets									$ 5,000,000
Held For Sale | A Certain International Business
Business Combinations
Impairment of long-lived assets							$ 96,000,000
Noncash cumulative foreign currency translation loss							$ 344,000,000
Additional Paid-In Capital
Business Combinations
Reduction of additional paid-in capital									$ 15,000,000
Allegro
Business Combinations
Other expense, net					$ 10,000,000
Potential asset acquisition, aggregate purchase price	$ 50,000,000
Potential asset acquisition, upfront payment included in aggregate purchase price	10,000,000
Potential asset acquisition, additional funding payment included in aggregate purchase price	$ 40,000,000			$ 40,000,000
Synergy
Business Combinations
Cash payments to acquire certain assets and assumed liabilities		$ 180,000,000
Revenue of acquiree since acquisition date						$ 55,000,000
Pro-forma revenue								$ 0
Pro-forma operating results								0
Operating results of acquiree since acquisition						$ 0
Other expense, net								$ 8,000,000
Medpharma
Business Combinations
Cash payments to acquire certain assets and assumed liabilities			$ 18,000,000
Percentage interest acquired			40.00%
Medpharma | Additional Paid-In Capital
Business Combinations
Reduction of additional paid-in capital			$ 15,000,000

ACQUISITIONS, LICENSING AGREE_4

ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE - Estimated Fair Value Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Mar. 06, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Combinations
Goodwill		$ 13,044	$ 13,126	$ 13,142	$ 15,593
Synergy
Business Combinations
Accounts receivable	$ 7
Inventories	24
Prepaid expenses and other current assets	5
Product brand intangible assets (estimated useful life 7 years)	159
Accounts payable	(1)
Accrued expenses	(17)
Total identifiable net assets	177
Goodwill	3
Total fair value of consideration transferred	$ 180
Weighted- Average Remaining Useful Lives (Years)	7 years

ACQUISITIONS, LICENSING AGREE_5

ACQUISITIONS, LICENSING AGREEMENTS AND ASSETS HELD FOR SALE - Assets and Liabilities Held For Sale (Details) - A Certain International Business - Held For Sale $ in Millions	Dec. 31, 2020USD ($)
Prepaid expenses and other current assets:
Trade receivables, net	$ 91
Inventories, net	63
Prepaid expenses and other current assets	8
Total Prepaid expenses and other current assets	162
Other non-current assets:
Property, plant and equipment, net	68
Goodwill and Intangible assets, net	245
Deferred tax assets, net	2
Total Other non-current assets	315
Accrued and other current liabilities:
Accounts payable	7
Accrued and other current liabilities	28
Total Accrued and other current liabilities	35
Other non-current liabilities:
Deferred tax liabilities, net	36
Other non-current liabilities	21
Total Other non-current liabilities	$ 57

RESTRUCTURING, INTEGRATION AN_2

RESTRUCTURING, INTEGRATION AND SEPARATION COSTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cost-rationalization and integration initiatives
Restructuring, integration and separation costs	$ 22	$ 31	$ 22
Selling, general and administrative	2,367	2,554	2,473
Restructuring and Integration-Related Costs
Cost-rationalization and integration initiatives
Remaining restructuring liabilities	20
Restructuring costs	11	31	22
Facility closure costs	10	11	10
Severance costs	1	11	11
Restructuring payments	18	31	33
Other costs		$ 9	$ 1
Separation Costs
Cost-rationalization and integration initiatives
Restructuring, integration and separation costs	11
Selling, general and administrative	$ 21

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Foreign currency exchange contracts | Not Designated as Hedging Instrument
Liabilities:
Derivative liabilities	$ 8
Net Investment Hedging | Cross-currency swaps | Designated as Hedging Instrument
Liabilities:
Derivative liabilities	70	$ 13
Recurring basis
Assets:
Cash equivalents	41	2,696
Restricted Cash	1,211	1
Liabilities:
Acquisition-related contingent consideration	328	316
Recurring basis | Foreign currency exchange contracts | Not Designated as Hedging Instrument
Assets:
Foreign currency exchange contracts	3	0
Liabilities:
Derivative liabilities	11	0
Recurring basis | Net Investment Hedging | Cross-currency swaps | Designated as Hedging Instrument
Liabilities:
Derivative liabilities	70	13
Recurring basis | Level 1
Assets:
Cash equivalents	8	2,646
Restricted Cash	1,211	1
Liabilities:
Acquisition-related contingent consideration	0	0
Recurring basis | Level 1 | Foreign currency exchange contracts | Not Designated as Hedging Instrument
Assets:
Foreign currency exchange contracts	0	0
Liabilities:
Derivative liabilities	0	0
Recurring basis | Level 1 | Net Investment Hedging | Cross-currency swaps | Designated as Hedging Instrument
Liabilities:
Derivative liabilities	0	0
Recurring basis | Level 2
Assets:
Cash equivalents	33	50
Restricted Cash	0	0
Liabilities:
Acquisition-related contingent consideration	0	0
Recurring basis | Level 2 | Foreign currency exchange contracts | Not Designated as Hedging Instrument
Assets:
Foreign currency exchange contracts	3	0
Liabilities:
Derivative liabilities	11	0
Recurring basis | Level 2 | Net Investment Hedging | Cross-currency swaps | Designated as Hedging Instrument
Liabilities:
Derivative liabilities	70	13
Recurring basis | Level 3
Assets:
Cash equivalents	0	0
Restricted Cash	0	0
Liabilities:
Acquisition-related contingent consideration	328	316
Recurring basis | Level 3 | Foreign currency exchange contracts | Not Designated as Hedging Instrument
Assets:
Foreign currency exchange contracts	0	0
Liabilities:
Derivative liabilities	0	0
Recurring basis | Level 3 | Net Investment Hedging | Cross-currency swaps | Designated as Hedging Instrument
Liabilities:
Derivative liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Ass_2

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis, Narrative (Details) - USD ($) $ in Millions	Dec. 16, 2019	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Highly liquid investments, maturity period (or less)		3 months
Valeant US Securities Litigation | New Jersey | Settled Litigation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Settlement, escrow fund included in restricted cash	$ 1,210	$ 1,210

FAIR VALUE MEASUREMENTS - Cross

FAIR VALUE MEASUREMENTS - Cross-currency Swaps, Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments or receipts in settlement of cross-currency swaps	$ 23
Cross-currency swaps | Net Investment Hedging | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate notional amounts	1,250
Fair value cross-currency swaps liability, net	70	$ 13
Fair value cross-currency swaps liability	79	22
Fair value cross-currency swaps asset	$ 9	$ 9

FAIR VALUE MEASUREMENTS - Cro_2

FAIR VALUE MEASUREMENTS - Cross-currency Swaps, Effect of Hedging Instruments on Financial Instruments (Details) - Cross-currency swaps - Net Investment Hedging - Designated as Hedging Instrument - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Loss recognized in Other comprehensive loss	$ (57)	$ (22)
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain excluded from assessment of hedge effectiveness	$ 23	$ 9

FAIR VALUE MEASUREMENTS - Forei

FAIR VALUE MEASUREMENTS - Foreign Currency Exchange Contracts, Narrative (Details) - Not Designated as Hedging Instrument - Foreign currency exchange contracts	12 Months Ended
	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate notional amounts	$ 485,000,000
Fair value cross-currency swaps liability, net	8,000,000
Fair value cross-currency swaps liability	11,000,000
Fair value cross-currency swaps asset	3,000,000
Net change in fair value, loss	8,000,000
Loss related to settlements during period	$ 2,000,000

FAIR VALUE MEASUREMENTS - Ass_3

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level3) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)ratenumber	Dec. 31, 2019USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 316	$ 339
Acquisition-related contingent consideration adjustments	48	12
Payments / Settlements	(36)	(36)
Foreign currency translation adjustment included in other comprehensive loss	0	1
Ending balance	328	316
Current portion	112	54
Non-current portion	216	262
Accretion for the time value of money
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Acquisition-related contingent consideration adjustments	23	22
Fair value adjustments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Acquisition-related contingent consideration adjustments	$ 25	$ (10)
Measurement Input, Weighted-Average Discount Rate | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, contingent consideration obligations, discount rate | number	0.08
Minimum | Measurement Input, Discount Rate | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, contingent consideration obligations, discount rate | rate	0.06
Maximum | Measurement Input, Discount Rate | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, contingent consideration obligations, discount rate | rate	0.25

FAIR VALUE MEASUREMENTS - Ass_4

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured on a Non-Recurring Basis (Details) - Fair Value, Nonrecurring - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other non-current assets:
Non-current assets held for sale	$ 245	$ 39
Level 1
Other non-current assets:
Non-current assets held for sale	0	0
Level 2
Other non-current assets:
Non-current assets held for sale	0	0
Level 3
Other non-current assets:
Non-current assets held for sale	$ 245	$ 39

FAIR VALUE MEASUREMENTS - Ass_5

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured on a Non-Recurring Basis, Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)product	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets reclassified, held and used		$ 33,863		$ 31,199
Non-recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-current assets held for sale		39		245
Level 3 | Non-recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-current assets held for sale		39		$ 245
Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets			$ 5
Held For Sale | Certain Products For Disposal, September 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets	$ 8	$ 8
Held For Sale | Certain Products For Disposal, September 2019 | Restatement Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets reclassified, held for sale					$ 39
Assets reclassified, held and used					$ 39
Diversified Products | Held For Sale | Certain Products For Disposal, September 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of products for disposal | product		1

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Non-recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of long-term debt	$ 25,378	$ 27,520

INVENTORIES - Summary of Invent

INVENTORIES - Summary of Inventories, Net (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 286	$ 319
Work in process	143	149
Finished goods	665	639
Inventories, net	$ 1,094	$ 1,107

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Major Components of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	$ 3,348	$ 3,107
Accumulated depreciation	(1,781)	(1,641)
Property, plant and equipment, net	1,567	1,466
Land
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	79	79
Buildings and improvements
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	686	696
Machinery and equipment
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	1,722	1,606
Other equipment and leasehold improvements
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	360	369
Equipment on operating lease
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	65	56
Construction in progress
Property, plant and equipment [Line Items]
Property, plant and equipment, gross	$ 436	$ 301

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 180	$ 178	$ 175

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 25,481	$ 25,613
Accumulated Amortization and Impairments	(18,741)	(17,123)
Net Carrying Amount	6,740	8,490
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	27,186	27,324
Intangible Assets, Net (Excluding Goodwill)	8,445	10,201
Acquired IPR&D not in service
Indefinite-lived Intangible Assets [Line Items]
Net Carrying Amount	7	13
B&L Trademark
Indefinite-lived Intangible Assets [Line Items]
Net Carrying Amount	$ 1,698	1,698
Product brands
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Lives (Years)	6 years
Gross Carrying Amount	$ 20,890	21,011
Accumulated Amortization and Impairments	(14,914)	(13,544)
Net Carrying Amount	$ 5,976	7,467
Corporate brands
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Lives (Years)	7 years
Gross Carrying Amount	$ 907	930
Accumulated Amortization and Impairments	(404)	(338)
Net Carrying Amount	$ 503	592
Product rights/patents
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Lives (Years)	3 years
Gross Carrying Amount	$ 3,305	3,297
Accumulated Amortization and Impairments	(3,055)	(2,887)
Net Carrying Amount	$ 250	410
Partner relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Lives (Years)	1 year
Gross Carrying Amount	$ 169	166
Accumulated Amortization and Impairments	(168)	(165)
Net Carrying Amount	$ 1	1
Technology and other
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Lives (Years)	3 years
Gross Carrying Amount	$ 210	209
Accumulated Amortization and Impairments	(200)	(189)
Net Carrying Amount	$ 10	$ 20

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details)	Mar. 01, 2021USD ($)segment	Oct. 01, 2020USD ($)	Oct. 01, 2019USD ($)	Oct. 01, 2018USD ($)	Jan. 01, 2018USD ($)	Dec. 31, 2020USD ($)$ / shares	Sep. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Mar. 31, 2018USD ($)	Mar. 01, 2018USD ($)	Dec. 31, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Net loss attributable to Bausch Health Companies Inc.						$ (153,000,000)	$ 71,000,000	$ (326,000,000)	$ (152,000,000)	$ (1,516,000,000)	$ (49,000,000)	$ (171,000,000)	$ (52,000,000)	$ (560,000,000)	$ (1,788,000,000)	$ (4,148,000,000)
Decrease to earnings per share, basic and diluted (in dollars per share) | $ / shares						$ 0.43	$ (0.20)	$ 0.92	$ 0.43	$ 4.30	$ 0.14	$ 0.49	$ 0.15	$ 1.58	$ 5.08	$ 11.81
Carrying value of intangible assets, net						$ 8,445,000,000				$ 10,201,000,000				$ 8,445,000,000	$ 10,201,000,000
Goodwill impairments			$ 0
Goodwill reallocated into (out of)						13,044,000,000				13,126,000,000				13,044,000,000	13,126,000,000	$ 13,142,000,000			$ 15,593,000,000
Revenue						2,213,000,000	$ 2,138,000,000	$ 1,664,000,000	$ 2,012,000,000	2,224,000,000	$ 2,209,000,000	$ 2,152,000,000	$ 2,016,000,000	8,027,000,000	8,601,000,000	8,380,000,000
Revenue, year-over-year decrease						$ 11,000,000
Revenue, year-over-year decrease, percentage						1.00%	3.00%	23.00%
Accumulated goodwill impairment charges to date						$ 3,711,000,000								3,711,000,000
Subsequent Event
Finite-Lived Intangible Assets [Line Items]
Number of reportable segments | segment	5
Ortho Dermatologics Reporting Unit
Finite-Lived Intangible Assets [Line Items]
Goodwill impairments		$ 0						$ 0	$ 0							2,213,000,000
Percentage of fair value in excess of carrying value		10.00%
Reporting unit, impairment test, long-term growth rates		2.00%
Dentistry Reporting Unit
Finite-Lived Intangible Assets [Line Items]
Goodwill impairments				$ 109,000,000												109,000,000
Reporting Units Excluding Dentistry
Finite-Lived Intangible Assets [Line Items]
Goodwill impairments				$ 0
Reporting Units Excluding Ortho Dermatologics and Dentistry
Finite-Lived Intangible Assets [Line Items]
Percentage of fair value in excess of carrying value				15.00%
Maximum | Ortho Dermatologics Reporting Unit
Finite-Lived Intangible Assets [Line Items]
Reporting unit, impairment test, estimated cash flows, discount rate		9.75%
Minimum | Ortho Dermatologics Reporting Unit
Finite-Lived Intangible Assets [Line Items]
Reporting unit, impairment test, estimated cash flows, discount rate		9.50%
Branded Rx Segment | Scenario, Adjustment
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)																		$ 115,000,000
Branded Rx Segment | Salix Reporting Unit
Finite-Lived Intangible Assets [Line Items]
Goodwill impairments					$ 1,970,000,000
Branded Rx Segment | Ortho Dermatologics Reporting Unit
Finite-Lived Intangible Assets [Line Items]
Goodwill impairments					$ 243,000,000
Bausch Lomb/International And U.S. Diversified Products Segments | Scenario, Adjustment
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)																	$ (115,000,000)
Bausch + Lomb
Finite-Lived Intangible Assets [Line Items]
Revenue														3,411,000,000	3,774,000,000	3,661,000,000
Bausch + Lomb | Subsequent Event
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)	$ 5,395,000,000
Salix
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)						3,159,000,000				3,159,000,000				3,159,000,000	3,159,000,000	3,156,000,000
Revenue														1,904,000,000	2,022,000,000	1,749,000,000
Salix | Subsequent Event
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)	3,159,000,000
International Rx
Finite-Lived Intangible Assets [Line Items]
Revenue														1,185,000,000	1,158,000,000	1,160,000,000
International Rx | Subsequent Event
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)	887,000,000
Ortho Dermatologics
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)						1,267,000,000				1,267,000,000				1,267,000,000	1,267,000,000	1,267,000,000
Revenue														548,000,000	560,000,000	608,000,000
Ortho Dermatologics | Subsequent Event
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)	1,267,000,000
Diversified Products
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)						2,914,000,000				$ 2,914,000,000				2,914,000,000	2,914,000,000	2,914,000,000
Revenue														979,000,000	1,087,000,000	1,202,000,000
Diversified Products | Subsequent Event
Finite-Lived Intangible Assets [Line Items]
Goodwill reallocated into (out of)	$ 2,336,000,000
Diversified Products | Dentistry Reporting Unit
Finite-Lived Intangible Assets [Line Items]
Goodwill impairments																109,000,000
Uceris
Finite-Lived Intangible Assets [Line Items]
Impairment of finite-lived intangible assets																263,000,000
Arestin
Finite-Lived Intangible Assets [Line Items]
Impairment of finite-lived intangible assets																132,000,000
Xifaxan
Finite-Lived Intangible Assets [Line Items]
Carrying value of intangible assets, net						$ 3,771,000,000								3,771,000,000
Xifaxan | Intangible Assets, Amortization Period
Finite-Lived Intangible Assets [Line Items]
Net loss attributable to Bausch Health Companies Inc.														$ 476,000,000	$ 473,000,000	$ 143,000,000
Decrease to earnings per share, basic and diluted (in dollars per share) | $ / shares														$ 1.34	$ 1.34	$ 0.41
Acquired IPR&D
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets														$ 1,000,000	$ 4,000,000	$ 28,000,000
Held For Sale
Finite-Lived Intangible Assets [Line Items]
Impairment of long-lived assets																5,000,000
Held For Sale | Certain Products For Disposal, September 2019
Finite-Lived Intangible Assets [Line Items]
Impairment of long-lived assets											$ 8,000,000				8,000,000
Held For Sale | A Certain International Business
Finite-Lived Intangible Assets [Line Items]
Impairment of long-lived assets														96,000,000
Product brands
Finite-Lived Intangible Assets [Line Items]
Impairment of finite-lived intangible assets														16,000,000	58,000,000	85,000,000
Discontinued Product Lines
Finite-Lived Intangible Assets [Line Items]
Impairment of finite-lived intangible assets														$ 1,000,000
Product rights/patents
Finite-Lived Intangible Assets [Line Items]
Impairment of finite-lived intangible assets															$ 5,000,000	$ 55,000,000

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Amortization Expense (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Estimated aggregate amortization expense
2021	$ 1,389
2022	1,204
2023	1,030
2024	905
2025	822
Thereafter	1,390
Net Carrying Amount	$ 6,740	$ 8,490

INTANGIBLE ASSETS AND GOODWIL_5

INTANGIBLE ASSETS AND GOODWILL - Schedule of Goodwill (Details) - USD ($)	Oct. 01, 2020	Oct. 01, 2019	Oct. 01, 2018	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in the carrying amount of goodwill
Balance at the beginning of the period					$ 13,126,000,000	$ 13,126,000,000	$ 13,142,000,000	$ 15,593,000,000
Impairments		$ 0
Acquisition of certain assets of Synergy							3,000,000
Assets held for sale reclassified to goodwill (Note 5)						18,000,000
Goodwill reclassified to assets held for sale						(217,000,000)	(18,000,000)	(2,000,000)
Foreign exchange and other						117,000,000	(1,000,000)	(127,000,000)
Balance at the end of the period						13,044,000,000	13,126,000,000	13,142,000,000
Ortho Dermatologics Reporting Units
Change in the carrying amount of goodwill
Impairments	$ 0			$ 0	0			(2,213,000,000)
Dentistry Reporting Unit
Change in the carrying amount of goodwill
Impairments			$ (109,000,000)					(109,000,000)
Bausch + Lomb/ International
Change in the carrying amount of goodwill
Balance at the beginning of the period					5,786,000,000	5,786,000,000	5,805,000,000	6,016,000,000
Realignment of Global Solta reporting unit goodwill								(82,000,000)
Assets held for sale reclassified to goodwill (Note 5)						18,000,000
Goodwill reclassified to assets held for sale						(217,000,000)	(18,000,000)	(2,000,000)
Foreign exchange and other						117,000,000	(1,000,000)	(127,000,000)
Balance at the end of the period						5,704,000,000	5,786,000,000	5,805,000,000
Branded Rx
Change in the carrying amount of goodwill
Balance at the beginning of the period					0	0	0	6,631,000,000
Realignment of Global Solta reporting unit goodwill								115,000,000
Realignment of segment goodwill								(4,533,000,000)
Balance at the end of the period						0	0	0
Branded Rx | Ortho Dermatologics Reporting Units
Change in the carrying amount of goodwill
Impairments								(2,213,000,000)
U.S. Diversified Products
Change in the carrying amount of goodwill
Balance at the beginning of the period					0	0	0	2,946,000,000
Realignment of Global Solta reporting unit goodwill								(33,000,000)
Realignment of segment goodwill								(2,913,000,000)
Balance at the end of the period						0	0	0
Salix
Change in the carrying amount of goodwill
Balance at the beginning of the period					3,159,000,000	3,159,000,000	3,156,000,000
Acquisition of certain assets of Synergy							3,000,000
Realignment of segment goodwill								3,156,000,000
Balance at the end of the period						3,159,000,000	3,159,000,000	3,156,000,000
Ortho Dermatologics
Change in the carrying amount of goodwill
Balance at the beginning of the period					1,267,000,000	1,267,000,000	1,267,000,000
Realignment of segment goodwill								1,267,000,000
Balance at the end of the period						1,267,000,000	1,267,000,000	1,267,000,000
Diversified Products
Change in the carrying amount of goodwill
Balance at the beginning of the period					$ 2,914,000,000	2,914,000,000	2,914,000,000
Realignment of segment goodwill								3,023,000,000
Balance at the end of the period						$ 2,914,000,000	$ 2,914,000,000	2,914,000,000
Diversified Products | Dentistry Reporting Unit
Change in the carrying amount of goodwill
Impairments								$ (109,000,000)

ACCRUED AND OTHER CURRENT LIA_3

ACCRUED AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Legal matters and related fees	$ 1,672	$ 1,397
Product rebates	747	898
Product returns	575	691
Interest	341	305
Employee compensation and benefit costs	316	304
Income taxes payable	158	196
Other	767	720
Accrued and other current liabilities	$ 4,576	$ 4,511

FINANCING ARRANGEMENTS - Summar

FINANCING ARRANGEMENTS - Summary of Consolidated Long-term Debt (Details) - USD ($)	Dec. 31, 2020	Dec. 03, 2020	May 26, 2020	Dec. 31, 2019	Mar. 08, 2019	Oct. 17, 2017	Mar. 31, 2017
Long-term debt, net of unamortized debt discount
Principal Amount	$ 24,185,000,000			$ 26,188,000,000
Total long-term debt and other	23,925,000,000			25,895,000,000
Less: Current portion of long-term debt and other	0			1,234,000,000
Non-current portion of long-term debt	$ 23,925,000,000			24,661,000,000
Term Loan B Facility Due June 2025
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	3.15%
Principal Amount	$ 3,298,000,000			3,869,000,000
Total long-term debt and other	$ 3,220,000,000			3,768,000,000
Term Loan B Facility Due November 2025
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	2.90%
Principal Amount	$ 1,125,000,000			1,275,000,000
Total long-term debt and other	$ 1,112,000,000			1,257,000,000
Senior Secured Notes | 6.50% Senior Notes Due March 2022
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	6.50%						6.50%
Principal Amount	$ 0			1,250,000,000
Total long-term debt and other	$ 0			1,242,000,000
Senior Secured Notes | 7.00 % Senior Notes Due March 2024
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	7.00%						7.00%
Principal Amount	$ 2,000,000,000			2,000,000,000
Total long-term debt and other	$ 1,987,000,000			1,983,000,000
Senior Secured Notes | 5.50% Senior Notes Due November 2025
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	5.50%					5.50%
Principal Amount	$ 1,750,000,000			1,750,000,000
Total long-term debt and other	$ 1,736,000,000			1,733,000,000
Senior Secured Notes | 5.75% Senior Notes Due August 2027
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	5.75%				5.75%
Principal Amount	$ 500,000,000			500,000,000
Total long-term debt and other	$ 494,000,000			493,000,000
Senior Unsecured Notes | 5.50% Senior Notes Due March 2023
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	5.50%
Principal Amount	$ 0			402,000,000
Total long-term debt and other	$ 0			400,000,000
Senior Unsecured Notes | 5.875% Senior Notes Due May 2023
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	5.875%
Principal Amount	$ 0			1,448,000,000
Total long-term debt and other	$ 0			1,441,000,000
Senior Unsecured Notes | 4.50% Senior Notes euro-denominated debt Due May 2023
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	4.50%
Principal Amount	$ 0			1,682,000,000
Total long-term debt and other	$ 0			1,674,000,000
Senior Unsecured Notes | 6.125% Senior Notes Due April 2025
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	6.125%
Principal Amount	$ 3,250,000,000			3,250,000,000
Total long-term debt and other	$ 3,234,000,000			3,230,000,000
Senior Unsecured Notes | 9.00% Senior Notes Due December 2025
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	9.00%
Principal Amount	$ 1,500,000,000			1,500,000,000
Total long-term debt and other	$ 1,478,000,000			1,473,000,000
Senior Unsecured Notes | 9.25% Senior Notes Due April 2026
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	9.25%
Principal Amount	$ 1,500,000,000			1,500,000,000
Total long-term debt and other	$ 1,487,000,000			1,484,000,000
Senior Unsecured Notes | 8.50% Senior Notes Due January 2027
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	8.50%
Principal Amount	$ 1,750,000,000			1,750,000,000
Total long-term debt and other	$ 1,755,000,000			1,756,000,000
Senior Unsecured Notes | 7.00 % Senior Notes Due January 2028
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	7.00%
Principal Amount	$ 750,000,000			750,000,000
Total long-term debt and other	$ 742,000,000			741,000,000
Senior Unsecured Notes | 5.00% Senior Notes Due January 2028
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	5.00%
Principal Amount	$ 1,250,000,000			1,250,000,000
Total long-term debt and other	$ 1,236,000,000			1,234,000,000
Senior Unsecured Notes | 6.25% Senior Notes Due February 2029
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	6.25%		6.25%
Principal Amount	$ 1,500,000,000			0
Total long-term debt and other	$ 1,480,000,000			0
Senior Unsecured Notes | 5.00% Senior Note Due February 2029
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	5.00%	5.00%
Principal Amount	$ 1,000,000,000			0
Total long-term debt and other	$ 988,000,000			0
Senior Unsecured Notes | 7.25% Senior Notes Due May 2029
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	7.25%
Principal Amount	$ 750,000,000			750,000,000
Total long-term debt and other	$ 741,000,000			740,000,000
Senior Unsecured Notes | 5.25% Senior Notes Due January 2030
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	5.25%
Principal Amount	$ 1,250,000,000			1,250,000,000
Total long-term debt and other	$ 1,235,000,000			1,234,000,000
Senior Unsecured Notes | 5.25% Senior Notes, Due February 2031
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	5.25%	5.25%
Principal Amount	$ 1,000,000,000			0
Total long-term debt and other	988,000,000			0
Senior Unsecured Notes | Other
Long-term debt, net of unamortized debt discount
Principal Amount	12,000,000			12,000,000
Total long-term debt and other	$ 12,000,000			12,000,000
Senior Secured Credit Facilities | 2023 Revolving Credit Facility Due June 2023
Long-term debt, net of unamortized debt discount
Stated interest rate on debt (as a percent)	3.15%
Principal Amount	$ 0			0
Total long-term debt and other	$ 0			$ 0

FINANCING ARRANGEMENTS - Covena

FINANCING ARRANGEMENTS - Covenant Compliance (Details) - Revolving credit facility $ in Millions	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Amount available for restricted payments	$ 13,000
Fixed charge coverage ratio	2
Secured leverage ratio	4

FINANCING ARRANGEMENTS - Senior

FINANCING ARRANGEMENTS - Senior Secured Credit Facilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2018
Debt Instrument [Line Items]
Long-term debt	$ 23,925,000,000	$ 25,895,000,000
Series F Tranche B Term Loan Facility
Debt Instrument [Line Items]
Long-term debt			$ 3,521,000,000
Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity			1,500,000,000
Amount outstanding			$ 250,000,000

FINANCING ARRANGEMENTS - Seni_2

FINANCING ARRANGEMENTS - Senior Secured Credit Facilities 2018 Activities (Details) - USD ($)

May 26, 2020

May 23, 2019

Mar. 08, 2019

Nov. 27, 2018

Jun. 01, 2018

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Mar. 31, 2020

Dec. 27, 2018

Jan. 01, 2018

Dec. 18, 2017

Mar. 27, 2015

Debt Instrument [Line Items]

Repayments of long-term debt

$ 5,642,000,000

$ 4,406,000,000

$ 10,101,000,000

Proceeds from issuance of long-term debt

3,455,000,000

5,960,000,000

8,944,000,000

Loss on extinguishment of debt

$ 27,000,000

$ 8,000,000

$ 59,000,000

$ 42,000,000

119,000,000

Debt issuance cost

$ 25,000,000

$ 74,000,000

Payments of debt restructuring costs

4,000,000

Senior Unsecured Notes

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 32,000,000

Series F Tranche B Term Loan Facility

Debt Instrument [Line Items]

Repayments of long-term debt

3,315,000,000

Loss on extinguishment of debt

$ 48,000,000

Term Loan B Facility Due June 2025

Debt Instrument [Line Items]

Debt instrument, term

7 years

7 years

Aggregate principal amount

$ 1,500,000,000

$ 4,565,000,000

Stated interest rate

3.15%

5.375% Senior Notes due March 2020 | Senior Unsecured Notes

Debt Instrument [Line Items]

Repayments of long-term debt

691,000,000

Aggregate principal amount

$ 2,000,000,000

Stated interest rate

5.375%

Repurchased face amount

$ 1,500,000,000

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

Debt Instrument [Line Items]

Repayments of long-term debt

$ 578,000,000

Stated interest rate

6.75%

7.25% Senior Notes due in July 2022 | Senior Unsecured Notes

Debt Instrument [Line Items]

Repayments of long-term debt

$ 550,000,000

Stated interest rate

7.25%

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

Debt Instrument [Line Items]

Repayments of long-term debt

$ 146,000,000

Stated interest rate

6.375%

8.50% Senior Unsecured Notes Due January 2027 | Senior Unsecured Notes

Debt Instrument [Line Items]

Aggregate principal amount

$ 750,000,000

$ 1,000,000,000

Stated interest rate

8.50%

Proceeds from issuance of long-term debt

$ 750,000,000

7.50% Senior Notes due July 2021 | Senior Unsecured Notes

Debt Instrument [Line Items]

Repayments of long-term debt

$ 1,483,000,000

Stated interest rate

7.50%

Loss on extinguishment of debt

$ 43,000,000

Repurchased face amount

$ 17,000,000

Revolving credit facility

Debt Instrument [Line Items]

Repayments of long-term debt

$ 571,000,000

Maximum borrowing capacity

$ 1,500,000,000

Revolving credit facility | 2023 Revolving Credit Facility Due June 2023

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 1,225,000,000

Alternate term, number of days prior to scheduled maturity in excess of principal amount threshold

91 days

Alternate term, principal amount maturity threshold

$ 1,000,000,000

Stated interest rate

3.15%

FINANCING ARRANGEMENTS - Seni_3

FINANCING ARRANGEMENTS - Senior Secured Credit Facilities 2019 Activities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revolving credit facility
Debt Instrument [Line Items]
Repayments of lines of credit	$ 471	$ 806

FINANCING ARRANGEMENTS - Seni_4

FINANCING ARRANGEMENTS - Senior Secured Credit Facilities 2020 Activities (Details) - USD ($)	May 26, 2020	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt		$ 23,925,000,000	$ 25,895,000,000
Term Loan B Facility Due June 2025 and November 2025
Debt Instrument [Line Items]
Repayment, outstanding debt	$ 303,000,000
Revolving credit facility
Debt Instrument [Line Items]
Repayments of lines of credit		471,000,000	806,000,000
Revolving credit facility | Term Loan B Facility Due June 2025 and November 2025
Debt Instrument [Line Items]
Repayment, outstanding debt	$ 250,000,000
Revolving credit facility | 2023 Revolving Credit Facility Due June 2023
Debt Instrument [Line Items]
Long-term debt		0	$ 0
Remaining availability		1,121,000,000
Letter of Credit | 2023 Revolving Credit Facility Due June 2023
Debt Instrument [Line Items]
Long-term debt		$ 104,000,000

FINANCING ARRANGEMENTS - Curren

FINANCING ARRANGEMENTS - Current Description of Senior Secured Credit Facilities (Details)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Federal funds effective rate	26.90%	26.90%	26.90%
Revolving credit facility
Debt Instrument [Line Items]
Quarterly amortization payments	$ 405,000,000
Incremental credit facility borrowings	$ 1,000,000,000
Incremental borrowings interest rate	28.50%
Secured leverage ratio (not greater than)	4
Interest coverage ratio (not less than)	2
Revolving credit facility | Secured Debt
Debt Instrument [Line Items]
Secured leverage ratio (not greater than)	3.50
Revolving credit facility | Unsecured Debt
Debt Instrument [Line Items]
Total leverage ratio (not greater than)	6.50
Senior Secured Credit Facilities
Debt Instrument [Line Items]
Percentage of net cash proceeds of insurance and condemnation proceeds for property or asset losses	100.00%
Percentage of cash proceeds from incurrence of debt	100.00%
Percentage of annual excess cash flow	50.00%
Percentage of cash proceeds from asset sales outside the ordinary course of business payable as mandatory prepayments	100.00%
Senior Credit Facilities
Debt Instrument [Line Items]
Variable interest rate	0.00%
2023 Revolving Credit Facility Due June 2023 | Revolving credit facility
Debt Instrument [Line Items]
Stated interest rate	3.15%
2023 Revolving Credit Facility Due June 2023 | Minimum | Revolving credit facility
Debt Instrument [Line Items]
Commitment fee, unutilized commitments, percentage	0.25%
2023 Revolving Credit Facility Due June 2023 | Maximum | Revolving credit facility
Debt Instrument [Line Items]
Commitment fee, unutilized commitments, percentage	0.50%
Term Loan B Facility Due June 2025
Debt Instrument [Line Items]
Stated interest rate	3.15%
Annual amortization rate, percentage	5.00%
Term Loan B Facility Due November 2025
Debt Instrument [Line Items]
Stated interest rate	2.90%
Annual amortization rate, percentage	5.00%
Federal Funds Effective Swap Rate | Senior Secured Credit Facilities
Debt Instrument [Line Items]
Variable interest rate	0.50%
Eurodollar | Senior Credit Facilities
Debt Instrument [Line Items]
Variable interest rate	1.00%
Eurodollar | Senior Credit Facilities | Minimum
Debt Instrument [Line Items]
Variable interest rate	1.00%
Eurodollar | 2023 Revolving Credit Facility Due June 2023 | Minimum
Debt Instrument [Line Items]
Variable interest rate	0.00%
Eurodollar | 2023 Revolving Credit Facility Due June 2023 | Minimum | Revolving credit facility
Debt Instrument [Line Items]
Variable interest rate	2.50%
Eurodollar | 2023 Revolving Credit Facility Due June 2023 | Maximum | Revolving credit facility
Debt Instrument [Line Items]
Variable interest rate	3.00%
Eurodollar | Term Loan B Facility Due June 2025
Debt Instrument [Line Items]
Variable interest rate	3.00%
Eurodollar | Term Loan B Facility Due November 2025
Debt Instrument [Line Items]
Variable interest rate	2.75%
Canada Bankers Acceptance Rate | 2023 Revolving Credit Facility Due June 2023
Debt Instrument [Line Items]
Variable interest rate	1.00%
Canada Bankers Acceptance Rate | 2023 Revolving Credit Facility Due June 2023 | Minimum
Debt Instrument [Line Items]
Variable interest rate	0.00%
Base Rate or Prime Rate | 2023 Revolving Credit Facility Due June 2023 | Minimum | Revolving credit facility
Debt Instrument [Line Items]
Variable interest rate	1.50%
Base Rate or Prime Rate | 2023 Revolving Credit Facility Due June 2023 | Maximum | Revolving credit facility
Debt Instrument [Line Items]
Variable interest rate	2.00%
Base Rate or Prime Rate | Term Loan B Facility Due June 2025
Debt Instrument [Line Items]
Variable interest rate	2.00%
Base Rate or Prime Rate | Term Loan B Facility Due November 2025
Debt Instrument [Line Items]
Variable interest rate	1.75%

FINANCING ARRANGEMENTS - Seni_5

FINANCING ARRANGEMENTS - Senior Secured Notes (Details) - USD ($)	May 26, 2020	Jan. 16, 2020	May 23, 2019	Mar. 08, 2019	Jun. 01, 2018	Apr. 30, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Nov. 21, 2017	Oct. 17, 2017	Mar. 31, 2017	Mar. 27, 2015	Dec. 02, 2013
Debt Instrument [Line Items]
Redemption price percentage due to change in control (as a percent)								101.00%
Repayments of long-term debt								$ 5,642,000,000	$ 4,406,000,000	$ 10,101,000,000
Loss on extinguishment of debt	$ 27,000,000			$ 8,000,000				$ 59,000,000	$ 42,000,000	$ 119,000,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Redemption price percentage due to change in control (as a percent)								101.00%
Loss on extinguishment of debt			$ 32,000,000
6.50% Senior Notes Due March 2022 | Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate								6.50%						6.50%
Aggregate principal amount														$ 1,250,000,000
7.00 % Senior Notes Due March 2024 | Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate								7.00%						7.00%
Aggregate principal amount														$ 2,000,000,000
5.50% Senior Notes Due November 2025 | Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate								5.50%					5.50%
Aggregate principal amount												$ 750,000,000	$ 1,000,000,000
5.75% Senior Notes Due August 2027 | Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate				5.75%				5.75%
Aggregate principal amount				$ 500,000,000
Redemption price percentage (as a percent)				100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings				40.00%
8.50% Senior Unsecured Notes Due January 2027 | Senior Unsecured Notes
Debt Instrument [Line Items]
Stated interest rate					8.50%
Aggregate principal amount					$ 750,000,000						$ 1,000,000,000
Redemption price percentage (as a percent)					100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings					40.00%
5.875% Senior Unsecured Notes due May 2023 | Senior Unsecured Notes
Debt Instrument [Line Items]
Stated interest rate				5.875%											5.875%
Aggregate principal amount															$ 3,250,000,000
Repayments of long-term debt		$ 1,240,000,000	$ 1,118,000,000	$ 584,000,000
Loss on extinguishment of debt		$ 24,000,000
5.625 % Senior Unsecured Notes due December 2021 | Senior Unsecured Notes
Debt Instrument [Line Items]
Stated interest rate				5.625%												5.625%
Aggregate principal amount																$ 900,000,000
Repayments of long-term debt				$ 518,000,000		$ 182,000,000	$ 200,000,000
Senior Secured and Unsecured Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,500,000,000

FINANCING ARRANGEMENTS - Seni_6

FINANCING ARRANGEMENTS - Senior Unsecured Notes (Details)	Dec. 03, 2020USD ($)	May 26, 2020USD ($)	Jan. 16, 2020USD ($)	Dec. 30, 2019USD ($)	Dec. 16, 2019USD ($)	Oct. 03, 2019USD ($)	May 23, 2019USD ($)	Mar. 08, 2019USD ($)	Jun. 01, 2018USD ($)	Mar. 26, 2018USD ($)	Dec. 18, 2017USD ($)	Dec. 31, 2020USD ($)	Apr. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 03, 2020EUR (€)	Mar. 31, 2020USD ($)	Mar. 31, 2017USD ($)	Mar. 27, 2015USD ($)	Mar. 27, 2015EUR (€)	Jan. 30, 2015USD ($)	Dec. 02, 2013USD ($)
Debt Instrument [Line Items]
Redemption price percentage due to change in control (as a percent)															101.00%
Repayments of long-term debt															$ 5,642,000,000	$ 4,406,000,000	$ 10,101,000,000
Loss on extinguishment of debt		$ 27,000,000						$ 8,000,000							59,000,000	$ 42,000,000	$ 119,000,000
Settled Litigation | New Jersey | Valeant US Securities Litigation
Debt Instrument [Line Items]
Litigation, amount agreed to pay					$ 1,210,000,000										$ 1,210,000,000
Term Loan B Facility Due June 2025 and November 2025
Debt Instrument [Line Items]
Repayment, outstanding debt		$ 303,000,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Redemption price percentage due to change in control (as a percent)															101.00%
Loss on extinguishment of debt							$ 32,000,000
Senior Unsecured Notes | 5.625 % Senior Unsecured Notes due December 2021
Debt Instrument [Line Items]
Stated interest rate								5.625%																5.625%
Aggregate principal amount																								$ 900,000,000
Repayments of long-term debt								$ 518,000,000					$ 182,000,000	$ 200,000,000
Senior Unsecured Notes | 5.50% Senior Unsecured Notes due March 2023
Debt Instrument [Line Items]
Stated interest rate								5.50%															5.50%
Aggregate principal amount																							$ 1,000,000,000
Repayments of long-term debt							382,000,000	$ 216,000,000				$ 233,000,000			$ 169,000,000
Senior Unsecured Notes | 5.375% Senior Notes due March 2020
Debt Instrument [Line Items]
Stated interest rate																					5.375%	5.375%
Aggregate principal amount																					$ 2,000,000,000
Repayments of long-term debt									$ 691,000,000
Repurchased face amount											$ 1,500,000,000
Senior Unsecured Notes | 5.875% Senior Unsecured Notes due May 2023
Debt Instrument [Line Items]
Stated interest rate								5.875%													5.875%	5.875%
Aggregate principal amount																					$ 3,250,000,000
Repayments of long-term debt			$ 1,240,000,000				$ 1,118,000,000	$ 584,000,000
Loss on extinguishment of debt			24,000,000
Senior Unsecured Notes | 4.50% Senior Unsecured Notes euro-denominated debt Due May 2023
Debt Instrument [Line Items]
Stated interest rate																					4.50%	4.50%
Aggregate principal amount | €																						€ 1,500,000,000
Repurchased face amount | €																		€ 1,500,000,000
Senior Unsecured Notes | 6.125% Senior Unsecured Notes due April 2025
Debt Instrument [Line Items]
Stated interest rate																					6.125%	6.125%
Aggregate principal amount																					$ 3,250,000,000
Senior Unsecured Notes | Senior Unsecured Notes due 2023
Debt Instrument [Line Items]
Repayments of long-term debt						$ 100,000,000									$ 208,000,000
Repurchased face amount			$ 1,240,000,000
Senior Unsecured Notes | 9.00% Senior Unsecured Notes due December 2025
Debt Instrument [Line Items]
Stated interest rate											9.00%
Aggregate principal amount											$ 1,500,000,000
Senior Unsecured Notes | 9.00% Senior Unsecured Notes due December 2025 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price percentage (as a percent)											100.00%
Senior Unsecured Notes | 9.00% Senior Unsecured Notes due December 2025 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings											40.00%
Senior Unsecured Notes | 9.25% Senior Unsecured Notes Due April 2026
Debt Instrument [Line Items]
Stated interest rate										9.25%
Aggregate principal amount										$ 1,500,000,000
Repurchased face amount										$ 1,500,000,000
Redemption price percentage (as a percent)										100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings										40.00%
Loss on extinguishment of debt										$ 26,000,000
Senior Unsecured Notes | 8.50% Senior Unsecured Notes Due January 2027
Debt Instrument [Line Items]
Stated interest rate									8.50%
Aggregate principal amount									$ 750,000,000										$ 1,000,000,000
Redemption price percentage (as a percent)									100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings									40.00%
Senior Unsecured Notes | 7.00% Senior Unsecured Notes due 2028
Debt Instrument [Line Items]
Stated interest rate							7.00%
Aggregate principal amount							$ 750,000,000
Redemption price percentage (as a percent)							100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings							40.00%
Senior Unsecured Notes | 7.25% Senior Unsecured Notes due 2029
Debt Instrument [Line Items]
Stated interest rate							7.25%
Aggregate principal amount							$ 750,000,000
Redemption price percentage (as a percent)							100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings							40.00%
Senior Unsecured Notes | 5.00% Senior Unsecured Notes Due January 2028
Debt Instrument [Line Items]
Stated interest rate				5.00%
Aggregate principal amount				$ 1,250,000,000
Redemption price percentage (as a percent)				100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings				40.00%
Senior Unsecured Notes | 5.25% Senior Unsecured Notes Due January 2030
Debt Instrument [Line Items]
Stated interest rate				5.25%
Aggregate principal amount				$ 1,250,000,000
Redemption price percentage (as a percent)				100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings				40.00%
Senior Unsecured Notes | 6.25% Senior Notes Due February 2029
Debt Instrument [Line Items]
Stated interest rate		6.25%										6.25%			6.25%
Aggregate principal amount		$ 1,500,000,000
Senior Unsecured Notes | 6.25% Senior Notes Due February 2029 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price percentage (as a percent)		100.00%
Senior Unsecured Notes | 6.25% Senior Notes Due February 2029 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings		40.00%
Senior Unsecured Notes | 5.00% Senior Note Due February 2029
Debt Instrument [Line Items]
Stated interest rate	5.00%											5.00%			5.00%			5.00%
Aggregate principal amount	$ 1,000,000,000
Redemption price percentage (as a percent)	100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings	40.00%
Senior Unsecured Notes | 5.25% Senior Notes, Due February 2031
Debt Instrument [Line Items]
Stated interest rate	5.25%											5.25%			5.25%			5.25%
Aggregate principal amount	$ 1,000,000,000
Redemption price percentage (as a percent)	100.00%
Maximum percentage of the aggregate principal amount that may be redeemed with the net proceeds of certain equity offerings	40.00%
Senior Unsecured Notes | 5.50% Senior Notes Due March 2023
Debt Instrument [Line Items]
Stated interest rate												5.50%			5.50%
Repurchased face amount	$ 233,000,000
Loss on extinguishment of debt	$ 7,000,000
Senior Secured Notes | 6.50% Senior Notes Due March 2022
Debt Instrument [Line Items]
Stated interest rate												6.50%			6.50%					6.50%
Aggregate principal amount																				$ 1,250,000,000
Repurchased face amount		$ 1,250,000,000

FINANCING ARRANGEMENTS - Weight

FINANCING ARRANGEMENTS - Weighted Average Stated Rate of Interest (Details)	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Weighted average interest rate	6.02%	6.21%

FINANCING ARRANGEMENTS - Maturi

FINANCING ARRANGEMENTS - Maturities, Schedule of Maturities and Mandatory Payments of Debt Obligations (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 0
2022	0
2023	0
2024	2,291
2025	10,632
Thereafter	11,262
Total gross maturities	24,185	$ 26,188
Unamortized discounts	(260)
Total long-term debt and other	$ 23,925	$ 25,895

PENSION AND POSTRETIREMENT EM_3

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2014defined_benefit_plan	Dec. 31, 2021	Dec. 31, 2020USD ($)defined_benefit_plan	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Future benefit payments period			10 years
Contributions recognized			$ 43	$ 41	$ 36
Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit accrual, interest percentage earned on cash balance			4.50%
Pension Benefit Plans | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated company contributions in next fiscal year			$ 10
Percentage of expected return on plan assets			2.98%	3.46%	3.66%
Pension Benefit Plans | Ireland
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of defined benefit plans | defined_benefit_plan			2
Number of defined benefit plans amended | defined_benefit_plan	1
Percentage of expected return on plan assets			3.00%
Percentage allocation of fund			96.00%	95.00%
Pension Benefit Plans | Ireland | Scenario, Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of expected return on plan assets		2.75%
Pension Benefit Plans | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated company contributions in next fiscal year			$ 0
Percentage of expected return on plan assets			6.25%	7.25%	7.50%
Pension Benefit Plans | United States | Scenario, Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of expected return on plan assets		5.00%
Postretirement Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution maximum age			65 years
Estimated company contributions in next fiscal year			$ 4
Percentage of expected return on plan assets			0.00%	0.00%	0.00%

PENSION AND POSTRETIREMENT EM_4

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
U.S. Postretirement Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Unrecognized actuarial losses	$ (3)	$ (2)
Unrecognized prior service credits	11	14
United States | Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Unrecognized actuarial losses	(21)	(20)
Unrecognized prior service credits	0	0
Foreign Plan | Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Unrecognized actuarial losses	(76)	(65)
Unrecognized prior service credits	$ 27	$ 26

PENSION AND POSTRETIREMENT EM_5

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Components of net periodic benefit cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0
Interest cost	1	1	1
Expected return on plan assets	0	0	0
Amortization of net loss	0	0	0
Amortization of prior service credit	(3)	(2)	(2)
Other	0	0	0
Net periodic (benefit) cost	(2)	(1)	(1)
United States | Pension Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	2	2
Interest cost	6	8	7
Expected return on plan assets	(13)	(13)	(15)
Amortization of net loss	0	0	0
Amortization of prior service credit	0	0	0
Other	0	0	0
Net periodic (benefit) cost	(6)	(3)	(6)
Foreign Plan | Pension Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3	3
Interest cost	4	5	5
Expected return on plan assets	(5)	(5)	(5)
Amortization of net loss	2	1	1
Amortization of prior service credit	(1)	(1)	(1)
Other	0	1	0
Net periodic (benefit) cost	$ 3	$ 4	$ 3

PENSION AND POSTRETIREMENT EM_6

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Change in Benefit Obligation, Plan Assets and Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. Postretirement Benefit Plan
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of year	$ 41	$ 41
Service cost	0	0	$ 0
Interest cost	1	1	1
Employee contributions	0	1
Settlements	0	0
Benefits paid	(4)	(4)
Actuarial losses	1	2
Currency translation adjustments	0	0
Projected benefit obligation, end of year	39	41	41
Change in Plan Assets
Fair value of plan assets, beginning of year	0	0
Actual return on plan assets	0	0
Employee contributions	0	1
Company contributions	4	3
Settlements	0	0
Benefits paid	(4)	(4)
Currency translation adjustments	0	0
Fair value of plan assets, end of year	0	0	0
Funded status, end of year	(39)	(41)
Recognized as:
Accrued and other current liabilities	(4)	(5)
Other non-current liabilities	(35)	(36)
United States | Pension Benefit Plans
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of year	227	214
Service cost	1	2	2
Interest cost	6	8	7
Employee contributions	0	0
Settlements	0	0
Benefits paid	(15)	(15)
Actuarial losses	17	18
Currency translation adjustments	0	0
Projected benefit obligation, end of year	236	227	214
Change in Plan Assets
Fair value of plan assets, beginning of year	216	187
Actual return on plan assets	29	42
Employee contributions	0	0
Company contributions	1	2
Settlements	0	0
Benefits paid	(15)	(15)
Currency translation adjustments	0	0
Fair value of plan assets, end of year	231	216	187
Funded status, end of year	(5)	(11)
Recognized as:
Accrued and other current liabilities	0	0
Other non-current liabilities	(5)	(11)
Foreign Plan | Pension Benefit Plans
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of year	259	235
Service cost	3	3	3
Interest cost	4	5	5
Employee contributions	0	0
Settlements	(3)	(2)
Benefits paid	(4)	(8)
Actuarial losses	13	30
Currency translation adjustments	22	(4)
Projected benefit obligation, end of year	294	259	235
Change in Plan Assets
Fair value of plan assets, beginning of year	161	147
Actual return on plan assets	11	17
Employee contributions	0	0
Company contributions	8	10
Settlements	(2)	(2)
Benefits paid	(4)	(8)
Currency translation adjustments	15	(3)
Fair value of plan assets, end of year	189	161	$ 147
Funded status, end of year	(105)	(98)
Recognized as:
Accrued and other current liabilities	(2)	(2)
Other non-current liabilities	$ (103)	$ (96)

PENSION AND POSTRETIREMENT EM_7

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Underfunded Plans (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
United States
Underfunded plans having accumulated benefit obligations exceeding the fair value of plan assets
Projected benefit obligation	$ 236	$ 227
Accumulated benefit obligation	236	227
Fair value of plan assets	231	216
Foreign Plan
Underfunded plans having accumulated benefit obligations exceeding the fair value of plan assets
Projected benefit obligation	294	259
Accumulated benefit obligation	286	251
Fair value of plan assets	$ 189	$ 161

PENSION AND POSTRETIREMENT EM_8

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Future benefit payments for the pension benefit plans (Details) $ in Millions	Dec. 31, 2020USD ($)
Pension Benefit Plans | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	$ 14
2022	19
2023	17
2024	17
2025	17
2026-2030	75
Pension Benefit Plans | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	6
2022	6
2023	7
2024	7
2025	7
2026-2030	42
U.S. Postretirement Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	4
2022	4
2023	4
2024	3
2025	3
2026-2030	$ 12

PENSION AND POSTRETIREMENT EM_9

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Weighted-average assumptions used to determine net periodic benefit costs and benefit obligations (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefit Plans | United States
For Determining Net Periodic (Benefit) Cost
Discount rate	3.16%	4.25%	3.56%
Expected rate of return on plan assets	6.25%	7.25%	7.50%
Rate of compensation increase	0.00%	0.00%	0.00%
Interest crediting rate	5.00%	5.00%	5.00%
For Determining Benefit Obligation
Discount rate	2.25%	3.16%
Rate of compensation increase	0.00%	0.00%
Interest crediting rate	4.75%	5.00%
Pension Benefit Plans | Foreign Plan
For Determining Net Periodic (Benefit) Cost
Discount rate	1.68%	2.39%	2.29%
Expected rate of return on plan assets	2.98%	3.46%	3.66%
Rate of compensation increase	3.05%	2.89%	2.87%
Interest crediting rate	0.00%	0.00%	0.00%
For Determining Benefit Obligation
Discount rate	1.37%	1.68%
Rate of compensation increase	2.60%	3.05%
Interest crediting rate	0.00%	0.00%
U.S. Postretirement Benefit Plan
For Determining Net Periodic (Benefit) Cost
Discount rate	3.04%	4.16%	3.47%
Expected rate of return on plan assets	0.00%	0.00%	0.00%
Rate of compensation increase	0.00%	0.00%	0.00%
For Determining Benefit Obligation
Discount rate	2.09%	3.04%
Rate of compensation increase	0.00%	0.00%

PENSION AND POSTRETIREMENT E_10

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Actual Asset Allocations (Details) - Pension Benefit Plans	Dec. 31, 2020	Dec. 31, 2019
United States | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	1.00%	1.00%
United States | Equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	39.00%	55.00%
United States | Fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	60.00%	44.00%
Foreign Plan | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	3.00%	6.00%
Foreign Plan | Equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	28.00%	25.00%
Foreign Plan | Fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	58.00%	64.00%
Foreign Plan | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, percentage of actual plan asset allocations	11.00%	6.00%

PENSION AND POSTRETIREMENT E_11

PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS - Fair value of pension and postretirement benefit plan assets assumed in connection with the Acquisition (Details) - Pension Benefit Plans - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 231	$ 216	$ 187
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	189	161	$ 147
Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	231	216
Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	189	161
Level 1 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	2	1
Level 1 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	1
Level 2 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	229	215
Level 2 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	186	159
Level 3 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 3 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	2	1
Cash and cash equivalents | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	2	1
Cash and cash equivalents | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	5	9
Cash and cash equivalents | Level 1 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	2	1
Cash and cash equivalents | Level 1 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Level 2 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Level 2 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	5	9
Cash and cash equivalents | Level 3 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Level 3 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. broad market | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	48	64
U.S. broad market | Level 1 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. broad market | Level 2 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	48	64
U.S. broad market | Level 3 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Emerging markets | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	9	15
Emerging markets | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	2
Emerging markets | Level 1 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Emerging markets | Level 1 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Emerging markets | Level 2 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	9	15
Emerging markets | Level 2 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	2
Emerging markets | Level 3 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Emerging markets | Level 3 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Worldwide developed markets | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	20	26
Worldwide developed markets | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	51	38
Worldwide developed markets | Level 1 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Worldwide developed markets | Level 1 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Worldwide developed markets | Level 2 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	20	26
Worldwide developed markets | Level 2 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	51	38
Worldwide developed markets | Level 3 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Worldwide developed markets | Level 3 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Other assets | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	14	15
Other assets | Level 1 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Other assets | Level 2 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	14	15
Other assets | Level 3 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Investment grade | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	138	95
Investment grade | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	6	9
Investment grade | Level 1 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Investment grade | Level 1 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Investment grade | Level 2 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	138	95
Investment grade | Level 2 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	6	9
Investment grade | Level 3 | Recurring basis | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Investment grade | Level 3 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Global high yield | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	3
Global high yield | Level 1 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Global high yield | Level 2 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	3
Global high yield | Level 3 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Government bond funds | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	103	91
Government bond funds | Level 1 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	1
Government bond funds | Level 2 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	102	90
Government bond funds | Level 3 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Other assets | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	22	9
Other assets | Level 1 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Other assets | Level 2 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	20	8
Other assets | Level 3 | Recurring basis | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 2	$ 1

LEASES - Right-of-use Assets an

LEASES - Right-of-use Assets and Right-of-use Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Right-of-use assets included in:
Other non-current assets	$ 259	$ 271	$ 302
Lease liabilities included in:
Accrued and other current liabilities	$ 52	$ 53
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Other non-current liabilities	$ 227	$ 240
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other non-current liabilities	Other non-current liabilities
Present value of remaining lease payments	$ 279	$ 293	$ 302

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Finance leases	$ 0	$ 0
Sub-lease income	0	0
Short-term lease expense	0	0
Rental expense			$ 92
Right-of-use assets obtained in exchange for new operating lease liabilities, excluding amount recognized upon adoption of new accounting standard	$ 39	47
Right-of-use assets obtained in exchange for new operating lease liabilities, upon adoption of new accounting standard		$ 282

LEASES - Lease Expenses (Detail

LEASES - Lease Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease costs	$ 65	$ 62
Variable operating lease costs	$ 12	$ 16

LEASES - Lease Additional Infor

LEASES - Lease Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid from operating cash flows for amounts included in the measurement of lease liabilities	$ 74	$ 73
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 39	$ 47
Weighted-average remaining lease term	7 years 7 months 6 days	8 years 2 months 12 days
Weighted-average discount rate	6.20%	6.20%

LEASES - Lease Future Payments

LEASES - Lease Future Payments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2021	$ 68
2022	53
2023	45
2024	35
2025	34
Thereafter	121
Total	356
Less: Imputed interest	77
Present value of remaining lease payments	279	$ 293	$ 302
Less: Current portion	52	53
Non-current portion	$ 227	$ 240

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - Omnibus Incentive Plan 2014 - USD ($)	Apr. 28, 2020	Apr. 30, 2018	Dec. 31, 2020	May 31, 2014
Components and classification of share-based compensation expense
Total number of shares approved for grant by the Company under the share-based compensation plans (in shares)				18,000,000
Shares reserved for future issuance (in shares)				20,000,000
Number of additional shares available for issuance (in shares)	13,500,000	11,900,000
Number of shares available for future grants (in shares)			16,902,000
Nonemployee Director
Components and classification of share-based compensation expense
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	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components and classification of share-based compensation expense
Share-based compensation	$ 105	$ 102	$ 87
Research and development expenses
Components and classification of share-based compensation expense
Share-based compensation	11	9	9
Selling, general and administrative expenses
Components and classification of share-based compensation expense
Share-based compensation	94	93	78
Stock options
Components and classification of share-based compensation expense
Share-based compensation	15	21	23
RSUs
Components and classification of share-based compensation expense
Share-based compensation	$ 90	$ 81	$ 64

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Options (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock options
Method and assumptions on valuation of stock options
Expected stock option life (years)	3 years	3 years	3 years
Expected volatility	38.70%	46.50%	54.00%
Risk-free interest rate	1.20%	2.50%	2.70%
Expected dividend yield	0.00%	0.00%	0.00%
Options
Beginning of the period (in shares)	7.1
Granted (in shares)	2.3
Exercised (in shares)	(0.4)
Expired or forfeited (in shares)	(0.3)
End of the period (in shares)	8.7	7.1
Vested and expected to vest at the end of the period (in shares)	8.2
Vested and exercisable at the end of the period (in shares)	4.8
Weighted- Average Exercise Price Per Share
Beginning of the period (in dollars per share)	$ 26.99
Granted (in dollars per share)	24.74
Exercised (in dollars per share)	14.65
Expired or forfeited (in dollars per share)	72.40
End of the period (in dollars per share)	25.59	$ 26.99
Vested and expected to vest at the end of the period (in dollars per share)	25.73
Vested and exercisable at the end of the period (in dollars per share)	$ 27.74
Weighted- Average Remaining Contractual Term (Years)
Outstanding at the end of the period	7 years 2 months 12 days
Vested and expected to vest at the end of the period	7 years 1 month 6 days
Vested and exercisable at the end of the period	6 years
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 14
Vested and expected to vest at the end of the period	14
Vested and exercisable at the end of the period	$ 11
Additional disclosures
Weighted-average grant date fair value of stock options (in dollars per share)	$ 6.60	$ 8.45	$ 7.83
Intrinsic value of stock options exercised in the period	$ 2	$ 3	$ 1
Proceeds from exercise of stock options	5	5	2
Remaining unrecognized compensation expense related to non-vested awards	$ 10
Weighted-average remaining requisite service period over which unrecognized compensation cost is expected to be amortized	1 year 6 months
Fair value of stock options vested	$ 15	$ 18	$ 17
Vesting Period One
Share-based compensation
Vesting period	3 years
Vesting Period One | Stock options
Share-based compensation
Percentage of stock options that will vest on each of the first, second, third and fourth anniversaries from the date of grant	33.00%
Vesting Period Two
Share-based compensation
Vesting period	4 years
Vesting Period Two | Stock options
Share-based compensation
Percentage of stock options that will vest on each of the first, second, third and fourth anniversaries from the date of grant	25.00%

SHARE-BASED COMPENSATION - RSUs

SHARE-BASED COMPENSATION - RSUs (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
RSUs
Share-based compensation
Percentage of vesting rights	33.00%
Vesting period	3 years
Time-Based RSUs
Share-based compensation
Remaining unrecognized compensation expense related to non-vested awards	$ 55
Total fair value	$ 66	$ 34	$ 30
Weighted-average remaining requisite service period over which unrecognized compensation cost is expected to be amortized	1 year 6 months
RSUs
Beginning of the period (in shares)	6,100,000
Granted (in shares)	3,300,000
Vested (in shares)	(3,400,000)
Forfeited (in shares)	(300,000)
End of the period (in shares)	5,700,000	6,100,000
Weighted- Average Grant-Date Fair Value Per Share
Beginning of the period (in dollars per share)	$ 20.54
Granted (in dollars per share)	21.92
Vested (in dollars per share)	19.37
Forfeited (in dollars per share)	21.78
End of the period (in dollars per share)	$ 21.98	$ 20.54
Performance-Based Restricted Stock Units
Share-based compensation
Remaining unrecognized compensation expense related to non-vested awards	$ 22
Weighted-average remaining requisite service period over which unrecognized compensation cost is expected to be amortized	1 year 4 months 24 days
Maximum common shares issuable upon vesting (in shares)	3,729,000
RSUs
Beginning of the period (in shares)	2,000,000
Granted (in shares)	897,000
Vested (in shares)	(600,000)
End of the period (in shares)	2,300,000	2,000,000
Weighted- Average Grant-Date Fair Value Per Share
Beginning of the period (in dollars per share)	$ 25.80
Granted (in dollars per share)	26.61
Vested (in dollars per share)	19.02
End of the period (in dollars per share)	$ 28.10	$ 25.80
Method and assumptions on valuation of stock options
Contractual term (years)	3 years	3 years	3 years
Expected Company share volatility	38.60%	46.50%	54.20%
Risk-free interest rate	1.20%	2.50%	2.70%
Performance-Based Restricted Stock Units | Chief Executive Officer
Share-based compensation
Aggregate value of long term incentive awards			$ 10
Number of shares canceled (in shares)			933,000
TSR Performance-Based Restricted Stock Units
RSUs
Granted (in shares)	425,000
Weighted- Average Grant-Date Fair Value Per Share
Granted (in dollars per share)	$ 26.13
ROTC Performance-Based Restricted Stock Units
RSUs
Granted (in shares)	472,000
Weighted- Average Grant-Date Fair Value Per Share
Granted (in dollars per share)	$ 27.05

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 605	$ 1,136	$ 2,815	$ 5,944
Foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(2,077)	(2,046)
Pension adjustment, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(56)	(40)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (2,133)	$ (2,086)	$ (2,137)	$ (1,896)

RESEARCH AND DEVELOPMENT - Sche

RESEARCH AND DEVELOPMENT - Schedule of Research and Development Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Research and Development [Abstract]
Product related research and development	$ 420	$ 434	$ 376
Quality assurance	32	37	37
Research and development	$ 452	$ 471	$ 413

OTHER EXPENSE (INCOME), NET - S

OTHER EXPENSE (INCOME), NET - Schedule of Other Expense (Income), Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income and Expenses [Abstract]
Litigation and other matters	$ 422	$ 1,401	$ (27)
Acquired in-process research and development costs	32	41	1
Net (gain) loss on sales of assets	(1)	(31)	6
Acquisition-related costs	0	8	1
Other, net	1	(5)	(1)
Other expense (income), net	$ 454	$ 1,414	$ (20)

OTHER EXPENSE (INCOME), NET - N

OTHER EXPENSE (INCOME), NET - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Other Income And Expenses [Line Items]
Favorable (unfavorable) adjustment, litigation and other matters	$ (422)	$ (1,401)	$ 27
Upfront payments, included in acquired in-process research and development costs	32	41	1
Milestone achievement, included in net gain (loss) on other sales of assets	$ 1	31	(6)
Milestone Payment Related To Certain Product
Schedule Of Other Income And Expenses [Line Items]
Milestone achievement, included in net gain (loss) on other sales of assets		$ 20
Salix Ltd. SEC Investigation Litigation
Schedule Of Other Income And Expenses [Line Items]
Favorable (unfavorable) adjustment, litigation and other matters			$ 40

INCOME TAXES - Components of Be

INCOME TAXES - Components of Benefit from Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of loss before benefit of income taxes
Domestic	$ (410)	$ (2,396)	$ (1,475)
Foreign	(524)	559	(2,679)
Loss before benefit from income taxes	(934)	(1,837)	(4,154)
Current:
Domestic	(8)	(12)	0
Foreign	(216)	(116)	(327)
Total	(224)	(128)	(327)
Deferred:
Domestic	9	(5)	17
Foreign	590	187	320
Total	599	182	337
(Provision for) benefit from income taxes	$ 375	$ 54	$ 10

INCOME TAXES - Schedule of Effe

INCOME TAXES - Schedule of Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Expected Canadian statutory rate	26.90%	26.90%	26.90%
Loss before benefit from income taxes	$ (934)	$ (1,837)	$ (4,154)
Benefit from income taxes
Expected benefit from income taxes at Canadian statutory rate	251	494	1,117
Non-deductible amount of share-based compensation	(9)	(7)	(10)
Adjustments to tax attributes	26	(99)	(4)
Change in valuation allowance related to foreign tax credits and NOLs	62	21	(3)
Change in valuation allowance on Canadian deferred tax assets and tax rate changes	687	(142)	(875)
Change in uncertain tax positions	(163)	(350)	(47)
Foreign tax rate differences	(128)	186	(3)
Non-deductible portion of Goodwill impairments	0	0	(488)
Tax benefit on intra-entity transfers	(338)	0	356
Other	(13)	(49)	(33)
(Provision for) benefit from income taxes	$ 375	$ 54	$ 10

INCOME TAXES - Tax Effect of Ma

INCOME TAXES - Tax Effect of Major Items Recorded as Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Tax loss carryforwards	$ 2,924	$ 2,911
Provisions	1,004	641
Research and development tax credits	172	155
Scientific Research and Experimental Development pool	55	52
Tax credit carryforwards	20	25
Deferred revenue	9	5
Unrealized FX on U.S. dollar debt and other financing cost	0	94
Prepaid expenses	27	41
Share-based compensation	16	19
Other	24	23
Total deferred tax assets	4,251	3,966
Less valuation allowance	(2,252)	(2,831)
Net deferred tax assets	1,999	1,135
Deferred tax liabilities:
Intangible assets	228	53
Plant, equipment and technology	89	56
Outside basis differences	71	41
Unrealized FX on U.S. dollar debt and other financing cost	2	0
Total deferred tax liabilities	390	150
Net deferred tax asset	$ 1,609	$ 985

INCOME TAXES - Schedule of Reco

INCOME TAXES - Schedule of Reconciliation of Deferred Tax Asset Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	$ 2,050	$ 2,384
Charged to other accounts	5,036	5,287
Balance, end of year	1,813	2,050	$ 2,384
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	2,831	2,913	2,001
Charged to Benefit from income taxes	(773)	13	870
Charged to other accounts	194	(95)	42
Balance, end of year	$ 2,252	$ 2,831	$ 2,913

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) $ in Millions, $ in Millions	Aug. 08, 2017USD ($)	Dec. 31, 2020USD ($)subsidiary	Dec. 31, 2020CAD ($)subsidiary	Dec. 31, 2019USD ($)
Income Tax [Line Items]
Valuation allowance against deferred tax assets		$ 2,252		$ 2,831
Unrecognized tax benefits including interest and penalties		1,025		1,002
Portion of unrecognized tax benefits, if recognized, would affect the Company's effective tax rate		414		355
Unrecognized tax benefits, net increase for tax positions of current year		66		362
Unrecognized tax benefits, net decrease for tax positions of prior years		42
Unrecognized tax benefits, net increase for tax positions of prior years				13
Accrued interest and penalties related to unrecognized tax benefits		49		45
Net increase (decrease) recognized in interest and penalties		$ 4		3
Number of subsidiaries file federal income tax returns in Canada, U.S., and other foreign jurisdictions (or more) | subsidiary		1	1
Possible decrease in unrecognized tax benefits realized in next twelve months				145
Tax Year 2013
Income Tax [Line Items]
Notice of tax assessment, aggregate amount of possible loss			$ 90
Canadian Federal and Provincial
Income Tax [Line Items]
Decrease in valuation allowance		$ 579		82
Accumulated losses available for federal and provincial purposes		6,530		7,441
Unclaimed investment tax credits and research and development credits		37		34
Valuation allowance against deferred tax assets		1,966		2,461
Canadian Federal and Provincial | Pooled Scientific Research and Experimental Development
Income Tax [Line Items]
Tax credit carryforward		206		192
United States - Federal
Income Tax [Line Items]
Accumulated losses available for federal and provincial purposes		814		636
Unclaimed investment tax credits and research and development credits		110		106
United States - Federal | Revenue Commissioners, Ireland
Income Tax [Line Items]
Accumulated losses available for federal and provincial purposes		$ 8,387
Ireland | Revenue Commissioners, Ireland
Income Tax [Line Items]
Accumulated losses available for federal and provincial purposes				$ 6,765
Ireland | Canada Revenue Agency
Income Tax [Line Items]
Estimate of possible loss, amount not subject to full valuation allowance			3
Ireland | Australian Taxation Office
Income Tax [Line Items]
Notice of tax assessment, aggregate amount of possible loss	$ 117
Ireland | Tax Year 2012 | Canada Revenue Agency
Income Tax [Line Items]
Notice of tax assessment, aggregate amount of possible loss			$ 85

INCOME TAXES - Federal Income T

INCOME TAXES - Federal Income Tax Returns by Jurisdiction (Details)	12 Months Ended
	Dec. 31, 2020
United States - Federal | Minimum
Income Taxes
Open Years	2015
United States - Federal | Maximum
Income Taxes
Open Years	2019
Canada | Minimum
Income Taxes
Open Years	2005
Canada | Maximum
Income Taxes
Open Years	2019
Germany | Minimum
Income Taxes
Open Years	2014
Germany | Maximum
Income Taxes
Open Years	2019
France | Minimum
Income Taxes
Open Years	2013
France | Maximum
Income Taxes
Open Years	2019
China | Minimum
Income Taxes
Open Years	2016
China | Maximum
Income Taxes
Open Years	2019
Ireland | Minimum
Income Taxes
Open Years	2016
Ireland | Maximum
Income Taxes
Open Years	2019
Netherlands | Minimum
Income Taxes
Open Years	2019
Netherlands | Maximum
Income Taxes
Open Years	2016
Australia | Minimum
Income Taxes
Open Years	2011
Australia | Maximum
Income Taxes
Open Years	2019

INCOME TAXES - Reconciliation S

INCOME TAXES - Reconciliation Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of year	$ 1,002	$ 654	$ 598
Additions based on tax positions related to the current year	66	361	18
Additions for tax positions of prior years	171	63	55
Reductions for tax positions of prior years	(209)	(58)	(11)
Lapse of statute of limitations	(5)	(18)	(6)
Balance, end of year	$ 1,025	$ 1,002	$ 654

LOSS PER SHARE - Schedule of Ca

LOSS PER SHARE - Schedule of Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net loss attributable to Bausch Health Companies Inc.	$ (153)	$ 71	$ (326)	$ (152)	$ (1,516)	$ (49)	$ (171)	$ (52)	$ (560)	$ (1,788)	$ (4,148)
Basic and diluted weighted-average common shares (in shares)									355	352.1	351.3
Basic and Diluted loss per share attributable to Bausch Health Companies Inc. (in dollars per share)	$ (0.43)	$ 0.20	$ (0.92)	$ (0.43)	$ (4.30)	$ (0.14)	$ (0.49)	$ (0.15)	$ (1.58)	$ (5.08)	$ (11.81)

LOSS PER SHARE - Narrative (Det

LOSS PER SHARE - Narrative (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock Compensation Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted earnings per share, effect anti-dilutive (in shares)	3,154	5,106	3,763
Stock options, Time-based RSUs, Performance-based RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted earnings per share, effect anti-dilutive (in shares)	9,551	2,598	4,185

SUPPLEMENTAL CASH FLOW DISCLO_3

SUPPLEMENTAL CASH FLOW DISCLOSURES - Schedule of Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other payments
Interest paid	$ 1,474	$ 1,537	$ 1,665
Income taxes paid	$ 162	$ 172	$ 138

LEGAL PROCEEDINGS - Narrative (

LEGAL PROCEEDINGS - Narrative (Details) $ in Millions, $ in Millions

Aug. 28, 2020

Aug. 04, 2020CAD ($)

May 01, 2020

Apr. 01, 2020USD ($)

Feb. 17, 2020

Dec. 16, 2019USD ($)

Nov. 25, 2019case

Aug. 19, 2019USD ($)

Jan. 28, 2019USD ($)

Dec. 07, 2017insurance_policy_period

Mar. 24, 2017case

May 31, 2020healthPlan

Sep. 30, 2019

Jul. 31, 2019healthPlan

Apr. 30, 2018USD ($)

Oct. 31, 2015case

Sep. 16, 2016action

Dec. 31, 2020USD ($)casegroupaction

Jul. 30, 2020case

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2016case

Jan. 03, 2020case

Sep. 13, 2019shareholder

Sep. 10, 2019shareholder

Feb. 15, 2019entity

Mar. 31, 2016manufacturer

Legal proceedings and other matters

Legal matters and related fees | $

$ 1,672

$ 1,397

Payments for legal settlements | $

$ 168

$ 15

$ 224

Plaintiffs, Direct Purchasers

Legal proceedings and other matters

Recent suits filed

3

Valeant US Securities Litigation | New Jersey

Legal proceedings and other matters

Number of groups of investors | group

37

Number of cases voluntarily dismissed

12

Number of cases settled

4

Number of groups of investors filing action, remain pending | group

25

Valeant US Securities Litigation | New Jersey | Settled Litigation

Legal proceedings and other matters

Litigation, amount agreed to pay | $

$ 1,210

$ 1,210

Valeant US Securities Litigation | New Jersey | Unfavorable Regulatory Action

Legal proceedings and other matters

Recent suits filed

4

Canadian Securities Litigation | Canada

Legal proceedings and other matters

Recent suits filed

6

Canadian Securities Litigation | Canada | Violation of Canadian Provincial Securities Legislation

Legal proceedings and other matters

Number of additional suits filed, but not served | action

2

Number of entities, exercised opt-out right, pursuing action | entity

1

Canadian Securities Litigation | Canada | Violation of Canadian Provincial Securities Legislation | Settled Litigation

Legal proceedings and other matters

Litigation, amount agreed to pay | $

$ 94

Insurance Coverage Lawsuit

Legal proceedings and other matters

Number of distinct insurance policy periods | insurance_policy_period

2

RICO Class Actions Litigation | New Jersey | Unfavorable Regulatory Action

Legal proceedings and other matters

Recent suits filed | action

3

Derivative Lawsuits

Legal proceedings and other matters

Number of alleged stockholders filed lawsuits | shareholder

2

2

Number of cases

2

Generic Pricing Antitrust Litigation

Legal proceedings and other matters

Number of health plans commenced action | healthPlan

7

87

Glumetza Antitrust Litigation

Legal proceedings and other matters

Recent suits filed

8

Glumetza Antitrust Litigation | Pending Litigation

Legal proceedings and other matters

Number of cases

5

Glumetza Antitrust Litigation, Non-Class Complaints

Legal proceedings and other matters

Recent suits filed

4

Glumetza Antitrust Litigation, Non-Class Complaints | Plaintiffs, Direct Purchasers

Legal proceedings and other matters

Recent suits filed

3

Sandoz Litigation

Legal proceedings and other matters

Stay of the approval period

30 months

30 months

Perrigo Israel Pharmaceuticals Litigation

Legal proceedings and other matters

Stay of the approval period

30 months

Perrigo Litigation

Legal proceedings and other matters

Stay of the approval period

30 months

Shower to Shower Product Liability Litigation | Pending Litigation

Legal proceedings and other matters

Number of cases

28

Shower to Shower Product Liability Litigation | Canada

Legal proceedings and other matters

Number of cases

2

Shower to Shower Product Liability Litigation | British Columbia

Legal proceedings and other matters

Number of cases

1

Shower to Shower Product Liability Litigation | Quebec

Legal proceedings and other matters

Number of cases

1

Johnson & Johnson Talcum Powder Litigation

Legal proceedings and other matters

Recent suits filed

18

Number of cases

1

Johnson & Johnson Talcum Powder Litigation | New Jersey

Legal proceedings and other matters

Number of cases

4

Johnson & Johnson Talcum Powder Litigation | Ohio

Legal proceedings and other matters

Number of cases

1

Johnson & Johnson Talcum Powder Litigation, New Jersey Division Of Taxation

Legal proceedings and other matters

Number of cases

2

Number of cases not yet served

1

Johnson & Johnson Talcum Powder Litigation, Delaware Division Of Revenue

Legal proceedings and other matters

Number of cases

1

Doctors Allergy Formula, LLC Litigation

Legal proceedings and other matters

Damages sought | $

$ 23

Litigation with Former Salix CEO

Legal proceedings and other matters

Damages sought | $

$ 30

SEC Investigation Litigation | Settled Litigation

Legal proceedings and other matters

Litigation, amount agreed to pay | $

$ 45

Contact Lens Antitrust Class Actions | Settled Litigation

Legal proceedings and other matters

Litigation, amount agreed to pay | $

$ 10

Number of manufacturers | manufacturer

3

Mississippi Attorney General Consumer Protection Action Litigation | Settled Litigation

Legal proceedings and other matters

Litigation, amount agreed to pay | $

$ 0

Investigation by the State of Texas | Settled Litigation

Legal proceedings and other matters

Payments for legal settlements | $

$ 10

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($)	Sep. 21, 2020	Sep. 30, 2020	Dec. 31, 2020
Other commitments
Capital expenditures			$ 54,000,000
Milestone payments in terms of collaboration and license agreements, aggregate			360,000,000
Allegro
Other commitments
Potential asset acquisition, additional funding payment included in aggregate purchase price	$ 40,000,000	$ 40,000,000
Spear Pharmaceuticals, Inc. And Spear Dermatology Products Inc.
Other commitments
Milestone payments in terms of collaboration and license agreements, aggregate			70,000,000
Mitsubishi Tanabe Pharma Corporation
Other commitments
Milestone payments in terms of collaboration and license agreements, aggregate			60,000,000
Novaliq GmbH
Other commitments
Milestone payments in terms of collaboration and license agreements, aggregate			45,000,000
Cedars-Sinai Medical Center
Other commitments
Milestone payments in terms of collaboration and license agreements, aggregate			36,000,000
Eyenovia, Inc.
Other commitments
Milestone payments in terms of collaboration and license agreements, aggregate			$ 35,000,000

SEGMENT INFORMATION - Segment R

SEGMENT INFORMATION - Segment Revenues and Profit, Assets and Capital Expenditures, Depreciation & Amortization of Intangible Assets & Asset Impairments (Details) - USD ($) $ in Millions	May 26, 2020	Mar. 08, 2019	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment reporting information
Revenue			$ 2,213	$ 2,138	$ 1,664	$ 2,012	$ 2,224	$ 2,209	$ 2,152	$ 2,016	$ 8,027	$ 8,601	$ 8,380
Operating income (loss)			$ (5)	$ 460	$ (27)	$ 248	$ (1,076)	$ 329	$ 257	$ 287	676	(203)	(2,384)
Amortization of intangible assets											(1,645)	(1,897)	(2,644)
Goodwill impairments											0	0	(2,322)
Asset impairments, including loss on assets held for sale											(114)	(75)	(568)
Restructuring, integration and separation costs											(22)	(31)	(22)
Acquisition-related contingent consideration											(48)	(12)	9
Other (expense) income, net											(454)	(1,414)	20
Interest income											13	12	11
Interest expense											(1,534)	(1,612)	(1,685)
Loss on extinguishment of debt	$ (27)	$ (8)									(59)	(42)	(119)
Foreign exchange and other											(30)	8	23
Loss before benefit from income taxes											(934)	(1,837)	(4,154)
Capital expenditures:
Total capital expenditures											302	270	157
Bausch + Lomb
Segment reporting information
Revenue											3,411	3,774	3,661
Salix
Segment reporting information
Revenue											1,904	2,022	1,749
International Rx
Segment reporting information
Revenue											1,185	1,158	1,160
Ortho Dermatologics
Segment reporting information
Revenue											548	560	608
Diversified Products
Segment reporting information
Revenue											979	1,087	1,202
Operating Segments
Segment reporting information
Revenue											8,027	8,601	8,380
Operating income (loss)											3,578	3,835	3,748
Capital expenditures:
Total capital expenditures											289	230	144
Operating Segments | Bausch + Lomb
Segment reporting information
Revenue											3,411	3,774	3,661
Operating income (loss)											907	1,115	1,080
Capital expenditures:
Total capital expenditures											253	186	104
Operating Segments | Salix
Segment reporting information
Revenue											1,904	2,022	1,749
Operating income (loss)											1,338	1,349	1,149
Capital expenditures:
Total capital expenditures											3	2	2
Operating Segments | International Rx
Segment reporting information
Revenue											1,185	1,158	1,160
Operating income (loss)											388	354	345
Capital expenditures:
Total capital expenditures											29	39	35
Operating Segments | Ortho Dermatologics
Segment reporting information
Revenue											548	560	608
Operating income (loss)											228	216	249
Capital expenditures:
Total capital expenditures											2	1	1
Operating Segments | Diversified Products
Segment reporting information
Revenue											979	1,087	1,202
Operating income (loss)											717	801	925
Capital expenditures:
Total capital expenditures											2	2	2
Corporate
Segment reporting information
Operating income (loss)											(619)	(609)	(605)
Capital expenditures:
Total capital expenditures											$ 13	$ 40	$ 13

SEGMENT INFORMATION - Revenues

SEGMENT INFORMATION - Revenues by Product Category (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)product	Dec. 31, 2019USD ($)product	Dec. 31, 2018USD ($)product
Revenue from External Customer [Line Items]
Number of products represented of total revenue | product									10	10	10
Revenue	$ 2,213	$ 2,138	$ 1,664	$ 2,012	$ 2,224	$ 2,209	$ 2,152	$ 2,016	$ 8,027	$ 8,601	$ 8,380
Pharmaceuticals
Revenue from External Customer [Line Items]
Revenue									3,680	4,079	4,034
Devices
Revenue from External Customer [Line Items]
Revenue									1,566	1,717	1,640
OTC
Revenue from External Customer [Line Items]
Revenue									1,430	1,447	1,407
Branded and Other Generics
Revenue from External Customer [Line Items]
Revenue									1,248	1,246	1,190
Other revenues
Revenue from External Customer [Line Items]
Revenue									103	112	109
Bausch + Lomb
Revenue from External Customer [Line Items]
Revenue									3,411	3,774	3,661
Bausch + Lomb | Pharmaceuticals
Revenue from External Customer [Line Items]
Revenue									506	623	617
Bausch + Lomb | Devices
Revenue from External Customer [Line Items]
Revenue									1,313	1,524	1,505
Bausch + Lomb | OTC
Revenue from External Customer [Line Items]
Revenue									1,311	1,322	1,282
Bausch + Lomb | Branded and Other Generics
Revenue from External Customer [Line Items]
Revenue									250	256	225
Bausch + Lomb | Other revenues
Revenue from External Customer [Line Items]
Revenue									31	49	32
International Rx
Revenue from External Customer [Line Items]
Revenue									1,185	1,158	1,160
International Rx | Pharmaceuticals
Revenue from External Customer [Line Items]
Revenue									255	268	280
International Rx | Devices
Revenue from External Customer [Line Items]
Revenue									0	0	0
International Rx | OTC
Revenue from External Customer [Line Items]
Revenue									112	119	118
International Rx | Branded and Other Generics
Revenue from External Customer [Line Items]
Revenue									779	734	721
International Rx | Other revenues
Revenue from External Customer [Line Items]
Revenue									39	37	41
Salix
Revenue from External Customer [Line Items]
Revenue									1,904	2,022	1,749
Salix | Pharmaceuticals
Revenue from External Customer [Line Items]
Revenue									1,899	2,022	1,752
Salix | Devices
Revenue from External Customer [Line Items]
Revenue									0	0	0
Salix | OTC
Revenue from External Customer [Line Items]
Revenue									0	0	0
Salix | Branded and Other Generics
Revenue from External Customer [Line Items]
Revenue									0	0	0
Salix | Other revenues
Revenue from External Customer [Line Items]
Revenue									5	0	(3)
Ortho Dermatologics
Revenue from External Customer [Line Items]
Revenue									548	560	608
Ortho Dermatologics | Pharmaceuticals
Revenue from External Customer [Line Items]
Revenue									275	353	455
Ortho Dermatologics | Devices
Revenue from External Customer [Line Items]
Revenue									253	193	135
Ortho Dermatologics | OTC
Revenue from External Customer [Line Items]
Revenue									0	0	0
Ortho Dermatologics | Branded and Other Generics
Revenue from External Customer [Line Items]
Revenue									0	0	0
Ortho Dermatologics | Other revenues
Revenue from External Customer [Line Items]
Revenue									20	14	18
Diversified Products
Revenue from External Customer [Line Items]
Revenue									979	1,087	1,202
Diversified Products | Pharmaceuticals
Revenue from External Customer [Line Items]
Revenue									745	813	930
Diversified Products | Devices
Revenue from External Customer [Line Items]
Revenue									0	0	0
Diversified Products | OTC
Revenue from External Customer [Line Items]
Revenue									7	6	7
Diversified Products | Branded and Other Generics
Revenue from External Customer [Line Items]
Revenue									219	256	244
Diversified Products | Other revenues
Revenue from External Customer [Line Items]
Revenue									$ 8	$ 12	$ 21
Revenues | Product Concentration Risk
Revenue from External Customer [Line Items]
Concentration risk, percentage									41.00%	39.00%	36.00%

SEGMENT INFORMATION - Geographi

SEGMENT INFORMATION - Geographic Information, Revenue (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues and long-lived assets by geographic region
Revenue	$ 2,213	$ 2,138	$ 1,664	$ 2,012	$ 2,224	$ 2,209	$ 2,152	$ 2,016	$ 8,027	$ 8,601	$ 8,380
U.S. and Puerto Rico
Revenues and long-lived assets by geographic region
Revenue									4,791	5,164	5,011
China
Revenues and long-lived assets by geographic region
Revenue									341	368	361
Canada
Revenues and long-lived assets by geographic region
Revenue									331	339	319
Egypt
Revenues and long-lived assets by geographic region
Revenue									243	218	178
Poland
Revenues and long-lived assets by geographic region
Revenue									238	231	218
Japan
Revenues and long-lived assets by geographic region
Revenue									226	241	226
Mexico
Revenues and long-lived assets by geographic region
Revenue									225	228	211
France
Revenues and long-lived assets by geographic region
Revenue									179	201	205
Germany
Revenues and long-lived assets by geographic region
Revenue									144	150	170
Russia
Revenues and long-lived assets by geographic region
Revenue									137	180	154
United Kingdom
Revenues and long-lived assets by geographic region
Revenue									86	115	117
Spain
Revenues and long-lived assets by geographic region
Revenue									78	86	83
Other
Revenues and long-lived assets by geographic region
Revenue									$ 1,008	$ 1,080	$ 1,127

SEGMENT INFORMATION - Geograp_2

SEGMENT INFORMATION - Geographical Information, Long-Lived Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Revenues and long-lived assets by geographic region
Long-lived assets	$ 1,567	$ 1,466
U.S. and Puerto Rico
Revenues and long-lived assets by geographic region
Long-lived assets	725	656
Ireland
Revenues and long-lived assets by geographic region
Long-lived assets	328	255
Canada
Revenues and long-lived assets by geographic region
Long-lived assets	110	103
Poland
Revenues and long-lived assets by geographic region
Long-lived assets	83	90
Germany
Revenues and long-lived assets by geographic region
Long-lived assets	80	68
Mexico
Revenues and long-lived assets by geographic region
Long-lived assets	49	50
France
Revenues and long-lived assets by geographic region
Long-lived assets	34	30
China
Revenues and long-lived assets by geographic region
Long-lived assets	31	27
Serbia
Revenues and long-lived assets by geographic region
Long-lived assets	30	27
Italy
Revenues and long-lived assets by geographic region
Long-lived assets	23	22
Other
Revenues and long-lived assets by geographic region
Long-lived assets	$ 74	$ 138

SEGMENT INFORMATION - Major Cus

SEGMENT INFORMATION - Major Customers (Details) - Customer concentration - Revenues	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
McKesson Corporation
Segment reporting information
Concentration risk, percentage	17.00%	17.00%	18.00%
AmerisourceBergen Corporation
Segment reporting information
Concentration risk, percentage	17.00%	16.00%	18.00%
Cardinal Health, Inc.
Segment reporting information
Concentration risk, percentage	13.00%	14.00%	13.00%

SUPPLEMENTARY DATA (UNAUDITED_2

SUPPLEMENTARY DATA (UNAUDITED) - Schedule of Unaudited Quarterly Consolidated Financial Data (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 2,213	$ 2,138	$ 1,664	$ 2,012	$ 2,224	$ 2,209	$ 2,152	$ 2,016	$ 8,027	$ 8,601	$ 8,380
Expenses	2,218	1,678	1,691	1,764	3,300	1,880	1,895	1,729	7,351	8,804	10,764
Operating income (loss)	(5)	460	(27)	248	(1,076)	329	257	287	676	(203)	(2,384)
Net (loss) income attributable to Bausch Health Companies Inc.	$ (153)	$ 71	$ (326)	$ (152)	$ (1,516)	$ (49)	$ (171)	$ (52)	$ (560)	$ (1,788)	$ (4,148)
Basic and Diluted (loss) earnings per share attributable to Bausch Health Companies Inc. (in dollars per share)	$ (0.43)	$ 0.20	$ (0.92)	$ (0.43)	$ (4.30)	$ (0.14)	$ (0.49)	$ (0.15)	$ (1.58)	$ (5.08)	$ (11.81)
Net cash provided by operating activities	$ 394	$ 256	$ 200	$ 261	$ 234	$ 515	$ 339	$ 413	$ 1,111	$ 1,501	$ 1,501

Uncategorized Items - _IXDS

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201616Member