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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Reportable Segments
The Company’s Chief Executive Officer ("CEO"), who is the Company’s Chief Operating Decision Maker, manages the business through operating and reportable segments consistent with how the Company’s CEO: (i) assesses operating performance on a regular basis, (ii) makes resource allocation decisions and (iii) designates responsibilities of his direct reports. The Company operates in the following reportable segments: (i) Bausch + Lomb/International segment, (ii) Salix segment, (iii) Ortho Dermatologics segment and (iv) Diversified Products segment.
The following is a brief description of the Company’s segments:
•The Bausch + Lomb/International segment consists of: (i) sales in the U.S. of pharmaceutical products, OTC products and medical device products, primarily comprised of Bausch + Lomb products, with a focus on the Vision Care, Surgical, Consumer and Ophthalmology Rx products and (ii) with the exception of sales of Solta products, sales in Canada, Europe, Asia, Australia, Latin America, Africa and the Middle East of branded pharmaceutical products, branded generic pharmaceutical products, OTC products, medical device products and Bausch + Lomb products.
•The Salix segment consists of sales in the U.S. of GI products.
•The Ortho Dermatologics segment consists of: (i) sales in the U.S. of Ortho Dermatologics (dermatological) products and (ii) global sales of Solta medical aesthetic devices.
•The Diversified Products segment consists of 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, In-process research and development costs, Restructuring and integration 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 Profits
Segment revenues and profits were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2020201920202019
Revenues:
Bausch + Lomb/International$883  $1,208  $1,997  $2,326  
Salix404  509  881  954  
Ortho Dermatologics116  122  249  260  
Diversified Products261  313  549  628  
$1,664  $2,152  $3,676  $4,168  
Segment profits:
Bausch + Lomb/International$169  $337  $494  $656  
Salix289  332  608  620  
Ortho Dermatologics38  41  86  98  
Diversified Products184  232  386  468  
680  942  1,574  1,842  
Corporate(145) (152) (301) (277) 
Amortization of intangible assets(436) (488) (872) (977) 
Asset impairments(1) (13) (15) (16) 
Restructuring and integration costs(7) (4) (11) (24) 
Acquisition-related contingent consideration(11) (20) (24) 1  
Other expense, net(107) (8) (130) (5) 
Operating (loss) income(27) 257  221  544  
Interest income2  3  9  7  
Interest expense(385) (409) (781) (815) 
Loss on extinguishment of debt(27) (33) (51) (40) 
Foreign exchange and other—  3  (13) 3  
Loss before benefit from income taxes$(437) $(179) $(615) $(301) 
Revenues by Segment and Product Category
Revenues by segment and product category were as follows:
Three Months Ended June 30, 2020Three Months Ended June 30, 2019
(in millions)Bausch + Lomb/ InternationalSalixOrtho DermatologicsDiversified ProductsTotalBausch + Lomb/ InternationalSalixOrtho DermatologicsDiversified ProductsTotal
Pharmaceuticals$151  $403  $71  $158  $783  $235  $509  $75  $199  $1,018  
Devices220  —  42  —  262  387  —  45  —  432  
OTC318  —  —  —  318  367  —  —  —  367  
Branded and Other Generics 175  —  —  99  274  194  —  —  111  305  
Other revenues19  1  3  4  27  25  —  2  3  30  
$883  $404  $116  $261  $1,664  $1,208  $509  $122  $313  $2,152  
Six Months Ended June 30, 2020Six Months Ended June 30, 2019
(in millions)Bausch + Lomb/ InternationalSalixOrtho DermatologicsDiversified ProductsTotalBausch + Lomb/ InternationalSalixOrtho DermatologicsDiversified ProductsTotal
Pharmaceuticals$352  $880  $148  $340  $1,720  $452  $954  $170  $410  $1,986  
Devices561  —  93  —  654  753  —  83  —  836  
OTC669  —  —  —  669  691  —  —  —  691  
Branded and Other Generics378  —  —  202  580  385  —  —  213  598  
Other revenues37  1  8  7  53  45  —  7  5  57  
$1,997  $881  $249  $549  $3,676  $2,326  $954  $260  $628  $4,168  
The top ten products for the six months ended June 30, 2020 and 2019 represented 40% and 38% of total revenues for the six months ended June 30, 2020 and 2019, respectively.
Geographic Information
Revenues are attributed to a geographic region based on the location of the customer and were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2020201920202019
U.S. and Puerto Rico$1,009  $1,282  $2,221  $2,482  
China79  101  137  190  
Canada67  88  157  167  
Egypt58  49  116  102  
Japan48  59  102  114  
Mexico48  60  89  106  
France42  58  89  111  
Poland37  53  111  115  
Germany32  41  76  86  
Russia24  41  57  77  
South Korea16  18  33  35  
Other204  302  488  583  
$1,664  $2,152  $3,676  $4,168  
Major Customers
Customers that accounted for 10% or more of total revenues were as follows:
Six Months Ended June 30,
20202019
AmerisourceBergen Corporation18%16%
McKesson Corporation (including McKesson Specialty)17%17%
Cardinal Health, Inc.13%14%