ALCON INC, 6-K filed on 8/9/2022
Report of Foreign Issuer
v3.22.2
COVER
 6 Months Ended
Jun. 30, 2022
Cover [Abstract]  
Document Type 6-K
Entity File Number 001-31269
Entity Registrant Name ALCON INC.
Entity Address, Address Line One Rue Louis-d'Affry 6
Entity Address, Address Line Two 1701
Entity Address, City or Town Fribourg
Entity Address, Country CH
Document Period End Date Jun. 30, 2022
Entity Central Index Key 0001167379
Current Fiscal Year End Date --12-31
Amendment Flag false
Document Fiscal Year Focus 2022
Document Fiscal Period Focus Q2
v3.22.2
CONSOLIDATED INCOME STATEMENT (unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Profit or loss [abstract]        
Net sales to third parties $ 2,200 $ 2,094 $ 4,375 $ 4,004
Other revenues 17 16 31 36
Net sales and other revenues 2,217 2,110 4,406 4,040
Cost of net sales (999) (875) (1,966) (1,755)
Cost of other revenues (14) (15) (28) (34)
Gross profit 1,204 1,220 2,412 2,251
Selling, general & administration (803) (785) (1,544) (1,484)
Research & development (181) (178) (347) (344)
Other income 3 5 12 14
Other expense (23) (33) (87) (59)
Operating income 200 229 446 378
Interest expense (31) (30) (60) (61)
Other financial income & expense (22) (8) (39) (17)
Income before taxes 147 191 347 300
Taxes 1 (40) (31) (65)
Net income $ 148 $ 151 $ 316 $ 235
Earnings per share ($)        
Basic (in dollars per share) $ 0.30 $ 0.31 $ 0.64 $ 0.48
Diluted (in dollars per share) $ 0.30 $ 0.31 $ 0.64 $ 0.48
Weighted average number of shares outstanding        
Basic (in shares) 491.7 490.0 491.3 489.9
Diluted (in shares) 494.3 493.2 494.2 492.8
v3.22.2
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME/(LOSS) (unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Statement of comprehensive income [abstract]        
Net income $ 148 $ 151 $ 316 $ 235
Other comprehensive income to be eventually recycled into the Consolidated Income Statement:        
Currency translation effects, net of taxes [1] (67) 20 (65) (18)
Total of items to eventually recycle (67) 20 (65) (18)
Other comprehensive income never to be recycled into the Consolidated Income Statement:        
Actuarial gains/(losses) from defined benefit plans, net of taxes [2] 49 (7) 120 15
Fair value adjustments on equity securities, net of taxes [3] 0 0 1 0
Total of items never to be recycled 49 (7) 121 15
Total comprehensive income $ 130 $ 164 $ 372 $ 232
[1] Amounts are net of tax expense of $1 million for the three and six months ended June 30, 2022.
[2] Amounts are net of tax expense of $13 million and tax benefit of $2 million for the three months ended June 30, 2022 and 2021, respectively. Amounts are net of tax expense of $29 million and $7 million for the six months ended June 30, 2022 and 2021, respectively.
[3] Amounts are net of tax expense of $0.1 million and $0.3 million for the three and six months ended June 30, 2022, respectively.
v3.22.2
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME/(LOSS) (unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Statement of comprehensive income [abstract]        
Currency translation effects, tax expense $ 1.0   $ 1.0  
Actuarial gains/(losses) from defined benefit plans, tax expense (benefit) 13.0 $ (2.0) 29.0 $ 7.0
Fair value adjustments on equity securities, tax expense $ 0.1   $ 0.3  
v3.22.2
CONSOLIDATED BALANCE SHEET (unaudited) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Non-current assets    
Property, plant & equipment $ 3,742 $ 3,711
Right-of-use assets 372 372
Goodwill 8,905 8,905
Intangible assets other than goodwill 8,811 8,765
Deferred tax assets 409 409
Financial assets 246 217
Other non-current assets 225 234
Total non-current assets 22,710 22,613
Current assets    
Inventories 1,988 1,899
Trade receivables 1,603 1,496
Income tax receivables 12 9
Cash and cash equivalents 1,030 1,575
Other current assets 384 407
Total current assets 5,017 5,386
Total assets 27,727 27,999
Equity    
Share capital 20 20
Reserves 19,521 19,236
Total equity 19,541 19,256
Non-current liabilities    
Financial debts 3,883 3,966
Lease liabilities 344 339
Deferred tax liabilities 896 1,026
Provisions & other non-current liabilities 743 940
Total non-current liabilities 5,866 6,271
Current liabilities    
Trade payables 930 903
Financial debts 87 114
Lease liabilities 66 67
Current income tax liabilities 221 187
Provisions & other current liabilities 1,016 1,201
Total current liabilities 2,320 2,472
Total liabilities 8,186 8,743
Total equity and liabilities $ 27,727 $ 27,999
v3.22.2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($)
$ in Millions
Total
Share capital
Other reserves
Fair value adjustments on equity securities
Actuarial gains/(losses) from defined benefit plans
Cumulative currency translation effects
Total value adjustments
 [1]
Beginning balance at Dec. 31, 2020 $ 18,822 $ 20 $ 18,899 $ (32) $ (109) $ 44 $ (97)
Net income 235   235        
Other comprehensive income (3)     0 15 (18) (3)
Total comprehensive income 232   235 0 15 (18) (3)
Dividends (53)   (53)        
Equity-based compensation 47   47        
Other movements [2] 16   4   12   12
Total other movements 10   (2)   12   12
Ending balance at Jun. 30, 2021 19,064 20 19,132 (32) (82) 26 (88)
Beginning balance at Dec. 31, 2021 19,256 20 19,356 (32) (74) (14) (120)
Net income 316   316        
Other comprehensive income 56     1 120 (65) 56
Total comprehensive income 372   316 1 120 (65) 56
Dividends (102)   (102)        
Equity-based compensation 4   4        
Other movements [2] 11   11       0
Total other movements (87)   (87)   0   0
Ending balance at Jun. 30, 2022 $ 19,541 $ 20 $ 19,585 $ (31) $ 46 $ (79) $ (64)
[1] "Total value adjustments" are presented net of the corresponding tax effects.
[2] Activity includes hyperinflationary accounting. The prior year period includes an adjustment to actuarial gains to recognize plan assets related to the separation of a pension plan in the spin-off from Novartis but which were not previously recorded.
v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Statement of cash flows [abstract]    
Net income $ 316 $ 235
Adjustments to reconcile net income to net cash flows from operating activities    
Depreciation, amortization, impairments and fair value adjustments 588 530
Equity-based compensation expense 70 68
Non-cash change in current and non-current provisions and other non-current liabilities 40 25
Losses on disposal and other adjustments on property, plant & equipment and other non-current assets, net 2 8
Interest expense 60 61
Other financial income & expense 39 17
Taxes 31 65
Interest received 2 2
Interest paid (53) (57)
Other financial payments (4) (3)
Taxes paid (120) (96)
Net cash flows before working capital changes and net payments out of provisions and other non-current liabilities 971 855
Net payments out of provisions and other cash movements in non-current liabilities (70) (37)
Change in net current assets and other operating cash flow items (431) (276)
Net cash flows from operating activities 470 542
Purchase of property, plant & equipment (237) (222)
Purchase of intangible assets (23) (411)
Purchase of financial assets (21) (10)
Proceeds from financial assets 2 0
Acquisition of assets, net of cash acquired (483) 0
Net cash flows used in investing activities (762) (643)
Dividends paid to shareholders of Alcon Inc. (100) (54)
Proceeds from non-current financial debts, net of issuance costs 531 51
Repayment of non-current financial debts (536) 0
Change in current financial debts (52) (24)
Lease payments (34) (37)
Other financing cash flows (86) (12)
Net cash flows used in financing activities (277) (76)
Effect of exchange rate changes on cash and cash equivalents 24 (14)
Net change in cash and cash equivalents (545) (191)
Cash and cash equivalents at January 1 1,575 1,557
Cash and cash equivalents at June 30 $ 1,030 $ 1,366
v3.22.2
Selected accounting policies
 6 Months Ended
Jun. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]  
Selected accounting policies Selected accounting policies
Basis of preparation
These Condensed Consolidated Interim Financial Statements for Alcon Inc. ("the Company") and the subsidiaries it controls (collectively, "Alcon") have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting as issued by the International Accounting Standards Board ("IASB") and with the accounting policies as described in Note 3 to the December 31, 2021 Consolidated Financial Statements in the Company’s 2021 Form 20-F ("Form 20-F").
These Condensed Consolidated Interim Financial Statements do not include all of the information required for a complete set of IFRS financial statements. The financial information consolidates the Company and the subsidiaries it controls, and includes selected notes to explain events and transactions that are significant to an understanding of the changes in Alcon's financial position and performance since the prior annual Consolidated Financial Statements. Therefore, the Condensed Consolidated Interim Financial Statements should be read in conjunction with the annual Consolidated Financial Statements for the year ended December 31, 2021, which have been prepared in accordance with IFRS as issued by the IASB.
The accompanying Condensed Consolidated Interim Financial Statements present our historical financial position, results of operations, comprehensive income and cash flows in accordance with IFRS. Alcon's principal accounting policies are set out in Note 3 to the Consolidated Financial Statements in the Form 20-F.
Use of estimates and assumptions
The preparation of financial statements requires management to make subjective and complex estimates and assumptions, either at the balance sheet date or during the period that affect the reported amounts of assets and liabilities as well as revenues and expenses. We have analyzed the impact of the war on Ukraine, economic sanctions and export controls on Russia and the COVID-19 pandemic on our financial statements for the three and six months ended June 30, 2022 and 2021. We have assessed various accounting estimates and other matters, including those that require consideration of forecasted financial information, in the context of the unknown future impacts of these and other events using information reasonably available to us at this time. The accounting estimates and other matters assessed included, but were not limited to, provisions for expected credit losses, goodwill and other intangible assets, financial instruments, inventory provisions, associate benefits, income taxes and revenue recognition. Based on our assessment performed, the resulting provisions recorded were not material to our Condensed Consolidated Interim Financial Statements for the three or six months ended June 30, 2022 or 2021. However, because of the inherent uncertainties of the continuation of the war on Ukraine, COVID-19 or other items, actual outcomes and results may differ materially from management's current assumptions and estimates.
Foreign currencies
The hyperinflationary economies in which Alcon operates are Argentina, Turkey and Venezuela. Argentina and Venezuela were hyperinflationary for all periods presented. Turkey became hyperinflationary effective April 1, 2022, requiring retroactive implementation from January 1, 2022 of hyperinflationary accounting. The accounting policy for hyperinflationary economies is described in Note 3 to the Consolidated Financial Statements in the Form 20-F.
Impairment of goodwill, Alcon brand name and definite lived intangible assets
As discussed in Note 3 to the Consolidated Financial Statements in the Form 20-F, Goodwill, the Alcon brand name and acquired In-process research & development projects are reviewed for impairment at least annually and these, as well as all other investments in intangible assets, are reviewed for impairment whenever events or changes in circumstance indicate that the asset's balance sheet or reportable segment carrying amount may not be recoverable. Goodwill and other intangible assets represent a significant amount of total assets on the Consolidated Balance Sheet. Impairment testing may lead to potentially significant impairment charges in the future, which could have a materially adverse impact on Alcon's results of operations and financial condition.
v3.22.2
Significant transactions
 6 Months Ended
Jun. 30, 2022
Significant Transactions [Abstract]  
Significant transactions Significant transactions
Significant transactions in 2022
Series 2028 notes issuance
On May 31, 2022, Alcon, through its wholly owned subsidiary Alcon Finance B.V. (“AFBV”), completed a public offering of $537 million (EUR500 million) of non-current EUR denominated financial debt consisting of 2.375% senior notes due 2028 ("Series 2028 Notes"). The funds borrowed through the issuance of the Series 2028 Notes were used to repay the $376 million (EUR350 million) Facility C term loan in full and partially repay $160 million of the Facility B term loan. Refer to Note 6 to these Condensed Consolidated Interim Financial Statements for additional information.
Surgical - Acquisition of Ivantis, Inc.
On January 7, 2022, Alcon acquired 100% of the outstanding shares and equity of Ivantis, Inc., a privately-held, US-based company and manufacturer of the Hydrus Microstent, a minimally-invasive glaucoma surgery (“MIGS”) device designed to lower intraocular pressure for open-angle glaucoma patients, for total upfront consideration of $479 million and additional amounts to be potentially paid upon achievement of development and commercial milestones. The acquisition expands Alcon’s surgical portfolio and is expected to help provide a platform for more growth in the glaucoma space. Refer to Note 11 to these Condensed Consolidated Interim Financial Statements for additional information regarding this transaction which was accounted for as an asset acquisition.
Significant transactions in 2021
Vision Care - Acquisition of Simbrinza US commercialization rights
On April 28, 2021, Alcon executed an Asset Purchase Agreement (“Agreement”) to acquire exclusive US commercialization rights to a pharmaceutical ophthalmic eye drop, Simbrinza (brinzolamide/brimonidine tartrate ophthalmic suspension) 1%/0.2% from Novartis. Under the terms of the Agreement, Alcon paid $355 million at closing on June 8, 2021 and recognized the intangible asset acquisition as currently marketed products within the Vision Care reportable segment. After closing, Alcon and Novartis immediately began a transition period during which Novartis sold Simbrinza on Alcon's behalf. The transition period concluded during the third quarter of 2021 and Alcon began to fully commercialize Simbrinza for the US market. Novartis retains all rights to Simbrinza® outside of the US.
v3.22.2
Segmentation of key figures
 6 Months Ended
Jun. 30, 2022
Operating Segments [Abstract]  
Segmentation of key figures Segmentation of key figures
The segment information disclosed in these Condensed Consolidated Interim Financial Statements reflects historical results consistent with the identifiable reportable segments of Alcon and financial information that the Chief Operating Decision Maker ("CODM") reviews to evaluate segmental performance and allocate resources among the segments. The CODM is the Executive Committee of Alcon.
The businesses of Alcon are divided operationally on a worldwide basis into two identified reportable segments, Surgical and Vision Care. Alcon's reportable segments are the same as its operating segments as Alcon does not aggregate any operating segments in arriving at its reportable segments. As indicated below, certain income and expenses are not allocated to segments.
Reportable segments are presented in a manner consistent with the internal reporting to the CODM. The reportable segments are managed separately due to their distinct needs and activities for research, development, manufacturing, distribution and commercial execution.
The Executive Committee of Alcon is responsible for allocating resources and assessing the performance of the reportable segments.
In Surgical, Alcon researches, develops, manufactures, distributes and sells ophthalmic products for cataract surgery, vitreoretinal surgery, refractive laser surgery and glaucoma surgery. The surgical portfolio also includes implantables, consumables and surgical equipment required for these procedures and supports the end-to-end procedure needs of the ophthalmic surgeon.
In Vision Care, Alcon researches, develops, manufactures, distributes and sells daily disposable, reusable, and color-enhancing contact lenses and a comprehensive portfolio of ocular health products, including products for dry eye, glaucoma, contact lens care and ocular allergies, as well as ocular vitamins and redness relievers.
Alcon also provides services, training, education and technical support for both the Surgical and Vision Care businesses.
The basis of preparation and the selected accounting policies mentioned in Note 1 of these Condensed Consolidated Interim Financial Statements are used in the reporting of segment results.
The Executive Committee of Alcon evaluates segmental performance and allocates resources among the segments primarily based on net sales and segment contribution.
Net identifiable assets are not assigned to the segments in the internal reporting to the CODM, and are not considered in evaluating the performance of the business segments by the Executive Committee of Alcon.
Segment contribution excludes amortization and impairment charges for acquired product rights or other intangibles, general and administrative expenses for corporate activities, separation costs, transformation costs, fair value adjustments to contingent consideration liabilities, past service costs primarily for post-employment benefit plan amendments, and certain other income and expense items.
General & administration (corporate) includes the costs of the Alcon corporate headquarters, including all related corporate function costs.
Other income and expense items excluded from segment contribution include fair value adjustments of financial assets in the form of options to acquire a company carried at fair value through profit and loss ("FVPL"), net gains and losses on fund investments and equity securities valued at FVPL, restructuring costs, legal provisions and settlements, integration related expenses and other income and expense items not attributed to a specific segment.
Net sales and other revenues by segment
Three months ended June 30Six months ended June 30
($ millions)2022202120222021
Surgical
Implantables444 387 899 731 
Consumables644 620 1,245 1,155 
Equipment/other208 199 411 397 
Total Surgical net sales to third parties1,296 1,206 2,555 2,283 
Vision Care
Contact lenses547 535 1,104 1,044 
Ocular health357 353 716 677 
Total Vision Care net sales to third parties904 888 1,820 1,721 
Total net sales to third parties2,200 2,094 4,375 4,004 
Vision Care other revenues17 16 31 36 
Total net sales and other revenues2,217 2,110 4,406 4,040 
Segment contribution and reconciliation to income before taxes
Three months ended June 30Six months ended June 30
($ millions)2022202120222021
Segment contribution
Surgical348 327 720 602 
Vision Care147 146 317 292 
Total segment contribution495 473 1,037 894 
Not allocated to segments:
Amortization of intangible assets(162)(143)(324)(283)
Impairment charges on intangible assets(61)— (61)(45)
General & administration (corporate)(70)(69)(132)(126)
Separation costs— (6)— (16)
Transformation costs(9)(15)(24)(26)
Fair value adjustments to contingent consideration liabilities7 — 7 — 
Past service costs for post-employment benefit plan amendments— — — 2 
Other— (11)(57)(22)
Operating income200 229 446 378 
Interest expense(31)(30)(60)(61)
Other financial income & expense(22)(8)(39)(17)
Income before taxes147 191 347 300 
Net sales by region(1)
Three months ended June 30Six months ended June 30
($ millions unless indicated otherwise)2022202120222021
United States990 45 %958 46 %1,929 44 %1,793 45 %
International1,210 55 %1,136 54 %2,446 56 %2,211 55 %
Net sales to third parties2,200 100 %2,094 100 %4,375 100 %4,004 100 %
(1) Net sales to third parties by location of third-party customer.
v3.22.2
Dividend and earnings/(loss) per share
 6 Months Ended
Jun. 30, 2022
Earnings per share [abstract]  
Dividend and earnings/(loss) per share Dividends and earnings per share
Dividends
On February 15, 2022, the Alcon Board of Directors ("Board") proposed a dividend of CHF 0.20 per share, which was subsequently approved by the shareholders at the Annual General Meeting on April 27, 2022 and paid in May 2022 for an amount of $100 million.
On February 23, 2021, the Board proposed a dividend of CHF 0.10 per share, which was subsequently approved by the shareholders at the Annual General Meeting on April 28, 2021 and paid in May 2021 for an amount of $54 million.
Earnings per share
As of June 30, 2022, there were 491.6 million outstanding common shares, after the delivery of 1.5 million net shares vesting under the equity incentive programs during the six months ended June 30, 2022.
Basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. For the three and six months ended June 30, 2022, the weighted average number of shares outstanding was 491.7 million and 491.3 million, respectively. For the three and six months ended June 30, 2021, the weighted average number of shares outstanding was 490.0 million and 489.9 million, respectively.
The only potentially dilutive securities are the outstanding unvested equity-based awards, as described in Note 9 to these Condensed Consolidated Interim Financial Statements. Except when the effect would be anti-dilutive, the calculation of diluted earnings per common share includes the weighted average net impact of unvested equity-based awards. For the three and six months ended June 30, 2022, the weighted average diluted number of shares outstanding was 494.3 million and 494.2 million, respectively, which includes the potential conversion of 2.6 million and 2.9 million unvested equity-based awards, respectively. For the three and six months ended June 30, 2021, the weighted average diluted number of shares outstanding was 493.2 million and 492.8 million, respectively, which includes the potential conversion of 3.2 million and 2.9 million unvested equity-based awards, respectively.
v3.22.2
Intangible assets other than goodwill
 6 Months Ended
Jun. 30, 2022
Disclosure of detailed information about intangible assets [abstract]  
Intangible assets other than goodwill Intangible assets other than goodwill
Intangible asset impairment charges
Impairments during the three and six months ended June 30, 2022 amounted to $61 million. An impairment charge of $59 million was recognized in Cost of net sales in the Condensed Consolidated Income Statement for a currently marketed product cash generating unit ("CGU") in the Surgical reportable segment, due to higher forecasted research and development costs associated with product redesign and delayed launch date of the next generation product. The CGU was reduced to its recoverable amount of $15 million estimated using the value in use ("VIU") method at the time of impairment. The recoverable value was estimated using net present value techniques utilizing pre-tax cash flows and a discount rate of 7.8%. The remaining impairment charge of $2 million was recognized in Research & development in the Condensed Consolidated Income Statement to fully impair an acquired research & development intangible asset in the Vision Care reportable segment which will no longer be used.
Impairments during the six months ended June 30, 2021 amounted to $45 million due to an impairment recognized in the first quarter in Cost of net sales in the Condensed Consolidated Income Statement for a currently marketed product CGU in the Vision Care reportable segment due to lower expected sales. The CGU was reduced to its recoverable amount of $48 million estimated using the fair value less cost of disposal ("FVLCOD") method at the time of impairment. The recoverable value was estimated using net present value techniques utilizing post-tax cash flows and a discount rate as there are no direct or indirect observable prices in active markets for identical or similar assets. There were no impairment charges during the three months ended June 30, 2021.
The estimates used in calculating net present value involve significant judgement by management and include assumptions with measurement uncertainty. The estimates include cash flow projections for a five-year period based on management forecasts, sales forecasts beyond the five-year period extrapolated using long-term expected growth rates, discount rates, and future tax rates. Actual cash flows and values could vary significantly from forecasted future cash flows and related values derived using net present value techniques.
For FVLCOD, the estimates used are considered to be consistent with market participant assumptions. Since the cash flow projections are a significant unobservable input, the fair value of the CGU was classified as Level 3 in the fair value hierarchy.
v3.22.2
Non-current and current financial debts
 6 Months Ended
Jun. 30, 2022
Disclosure Of Borrowings [Abstract]  
Non-current and current financial debts Non-current and current financial debts
The below table summarizes non-current and current Financial debts outstanding as of June 30, 2022 and December 31, 2021.
($ millions)June 30, 2022December 31, 2021
Non-current financial debts
Facility B637 796 
Facility C— 395 
Local facilities (Japan)— 47 
Series 2026 notes497 496 
Series 2028 notes517 — 
Series 2029 notes993 993 
Series 2030 notes745 745 
Series 2049 notes494 494 
Revolving facility— — 
Total non-current financial debts3,883 3,966 
Current financial debts
Local facilities:
Japan70 84 
All others9 17 
Other short-term financial debts7 6 
Derivatives1 7 
Total current financial debts87 114 
Total financial debts3,970 4,080 
Interest expense recognized for Financial debts, excluding lease liabilities, was $25 million and $49 million for the three and six months ended June 30, 2022, respectively, and $24 million and $48 million for the three and six months ended June 30, 2021, respectively.
Series 2028 notes issuance
On May 31, 2022, AFBV issued EUR denominated senior notes due in 2028, which are guaranteed by the Company. The Series 2028 Notes are unsecured senior obligations of AFBV issued and closed in a public offering and rank equally in right of payment with the Series 2026, Series 2029, Series 2030 and Series 2049 notes. The total principal of the Series 2028 Notes is $522 million (EUR500 million) as of June 30, 2022. The Series 2028 Notes were issued at 99.476% with 2.375% interest payable annually in May, beginning in May 2023. The Series 2028 Notes were issued at a discount totaling $3 million, which was recorded as a reduction to the carrying value of the Series 2028 Notes and will be amortized to Interest expense over the term of the Series 2028 Notes. AFBV incurred $3 million of debt issuance costs, which were recorded as a reduction to the carrying value of the Series 2028 Notes and will be amortized to Other financial income & expense over the term of the Series 2028 Notes.
On May 31, 2022, the funds borrowed through the issuance of the Series 2028 Notes were used to fully repay the $376 million (EUR350 million) Facility C term loan maturing in 2024 and repay $160 million of the $800 million Facility B term loan maturing in 2024. The transactions were accounted for as an extinguishment and partial extinguishment of a liability, respectively. The remaining principal balance of the Facility B term loan is $640 million as of June 30, 2022. Alcon recognized losses on extinguishment of $1 million associated with the write-off of unamortized deferred financing costs in Other financial income & expense for three and six months ended June 30, 2022.
Revolving facility
The Revolving facility remained undrawn as of June 30, 2022.
Local bilateral facilitiesDuring the six months ended June 30, 2022, changes in financial debts for local bilateral facilities primarily included the movement of balances from non-current to current and payment of certain local bilateral facilities in Japan. In addition, one local bilateral facility in Japan with an outstanding amount of $62 million matured in February 2022 and was renewed for another one year term.
v3.22.2
Financial instruments
 6 Months Ended
Jun. 30, 2022
Financial Instruments [Abstract]  
Financial instruments Financial instruments
Fair value by hierarchy
As required by IFRS, financial assets and liabilities recorded at fair value in the Condensed Consolidated Interim Financial Statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. There are three hierarchical levels, based on an increasing amount of judgment associated with the inputs to derive fair value for these financial assets and liabilities, which are as follows:
Financial assets and liabilities carried at Level 1 fair value hierarchy are listed in active markets.
Financial assets and liabilities carried at Level 2 fair value hierarchy are valued using corroborated market data.
Level 1 financial assets include money market funds, equity securities of public companies and deferred compensation assets. There were no financial liabilities carried at Level 1 fair value, and Level 2 financial assets and liabilities include derivative financial instruments.
Investments in money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The investments are classified as Cash & cash equivalents within the Condensed Consolidated Balance Sheet.
Investments in equity securities of public companies are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.
Deferred compensation investments for certain employee benefit plans are held in a rabbi trust and dedicated to pay the benefits under the associated plans but are not considered plan assets as the assets remain available to creditors of Alcon in certain events, including bankruptcy. Rabbi trust assets primarily consist of investments in mutual funds. These assets are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.
Level 3 inputs are unobservable for the financial asset or liability. The financial assets and liabilities generally included in the Level 3 fair value hierarchy are equity securities and convertible notes receivable of private companies measured at fair value through other comprehensive income ("FVOCI"), fund investments, options to acquire private companies, and contingent consideration liabilities measured at fair value through profit and loss ("FVPL").
The below tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of June 30, 2022 and December 31, 2021.
June 30, 2022
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 65 — 65 
Long-term financial investments measured at FVPL— — 5 — 5 
Long-term receivables from customers— — — 117 117 
Deferred compensation assets(1)
135 — — — 135 
Non-current minimum lease payments from finance lease agreements— — — 38 38 
Long-term loans, advances and security deposits— — — 21 21 
Non-current financial assets135 — 70 176 381 
Current financial assets
Money market funds241 — — — 241 
Current portion of long-term receivables from customers(2)
— — — 102 102 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 26 26 
Other receivables, security deposits and current assets(2)
— — — 70 70 
VAT receivables(2)
— — — 75 75 
Derivative financial instruments(2)
— 7 — — 7 
Current financial assets241 7 — 273 521 
Financial assets at fair value and amortized cost or cost376 7 70 449 902 
Financial liabilities
Contingent consideration liabilities— — (109)— (109)
Non-current financial debt— — — (3,883)(3,883)
Current financial debt— — — (86)(86)
Derivative financial instruments— (1)— — (1)
Financial liabilities at fair value and amortized cost— (1)(109)(3,969)(4,079)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2028, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,912 million and a carrying value of $3,246 million as of June 30, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
December 31, 2021
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 46 — 46 
Long-term financial investments measured at FVPL— — 6 — 6 
Long-term receivables from customers— — — 110 110 
Deferred compensation assets(1)
155 — — — 155 
Non-current minimum lease payments from finance lease agreements— — — 35 35 
Long-term loans, advances and security deposits— — — 20 20 
Non-current financial assets155 — 52 165 372 
Current financial assets
Money market funds624 — — — 624 
Equity securities of public companies(2)
3 — — — 3 
Current portion of long-term receivables from customers(2)
— — — 97 97 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 28 28 
Other receivables, security deposits and current assets(2)
— — — 79 79 
VAT receivables(2)
— — — 105 105 
Derivative financial instruments(2)
— 3 — — 3 
Current financial assets627 3 — 309 939 
Financial assets at fair value and amortized cost or cost782 3 52 474 1,311 
Financial liabilities
Contingent consideration liabilities— — (112)— (112)
Non-current financial debt— — — (3,966)(3,966)
Current financial debt— — — (107)(107)
Derivative financial instruments— (7)— — (7)
Financial liabilities at fair value and amortized cost— (7)(112)(4,073)(4,192)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,891 million and a carrying value of $2,728 million as of December 31, 2021. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
The carrying amount is a reasonable approximation of fair value for all other financial assets and liabilities as of June 30, 2022, including Cash & cash equivalents, Trade receivables, Income tax receivables and Trade payables.
There were no transfers of financial instruments between levels in the fair value hierarchy during the six months ended June 30, 2022.
Level 3 financial instruments measured at fair value on a recurring basis
Financial assets
Long-term financial investments measured
at FVOCI		Financial investments
measured at FVPL
($ millions)2022202120222021
Balance as of January 146 28 6 24 
Additions19 9 — — 
Gain recognized in Consolidated Statement of Comprehensive Income1 — — — 
Unrealized (losses) in Consolidated Income Statement— — (1)(1)
Amortization— — — (8)
Settlement(1)— — — 
Balance as of June 3065 37 5 15 
Financial liabilities
Contingent consideration liabilities
($ millions)20222021
Balance as of January 1(112)(157)
Accretion for passage of time(4)(7)
Adjustments for changes in assumptions7 — 
Payments— 15 
Balance as of June 30(109)(149)
Changes in contingent consideration liabilities in the current period include fair value adjustments for changes in assumptions of $7 million, primarily due to revised expectations for achievement and timing of settlement for development milestones. As of June 30, 2022, the probability of success for various development and commercial milestones ranges from 55% to 57% and the maximum remaining potential payments related to contingent consideration from business combinations is $395 million, plus other amounts calculated as a percentage of commercial sales in cases where there is not a specified maximum contractual payment amount. The estimation of probability typically depends on factors such as technical milestones or market performance and is adjusted for the probability of payment. If material, probable payments are appropriately discounted to reflect the impact of time.
Changes in contingent consideration liabilities in the prior year period included a payment of $15 million related to achievement of a development milestone.
Contingent consideration liabilities are reported in “Provisions & other non-current liabilities" based on the projected timing of settlement which is estimated to range from 2028 through 2033 for contingent consideration obligations as of June 30, 2022.
Derivatives
As of June 30, 2022, the net value of unsettled positions for derivative forward contracts and swaps was $6 million, including $7 million of unrealized gains in Other current assets and $1 million of unrealized losses in Current financial debts. As of December 31, 2021, the net value of unsettled positions for derivative forward contracts and swaps was $4 million, including $3 million of unrealized gains in Other current assets and $7 million of unrealized losses in Current financial debts. There are master agreements with several banking counterparties for derivative financial instruments, however, there were no derivative financial instruments meeting the offsetting criteria under IFRS as of June 30, 2022 or December 31, 2021.
Nature and extent of risks arising from financial instruments
Note 18 to the Consolidated Financial Statements in the Form 20-F contains a summary of the nature and extent of risks arising from financial instruments. There have been no significant updates to our assessment of the nature and extent of risks arising from financial instruments during the period.
v3.22.2
Condensed consolidated statements of cash flows - additional details
 6 Months Ended
Jun. 30, 2022
Cash Flow Statement [Abstract]  
Condensed consolidated statements of cash flows - additional details Condensed Consolidated Statement of Cash Flows - additional details
The below tables provide additional detail supporting select line items in the Condensed Consolidated Statement of Cash Flows.
8.1     Depreciation, amortization, impairments and fair value adjustments
Six months ended June 30
($ millions)20222021
Property, plant & equipment161 160 
Right-of-use assets38 42 
Intangible assets385 328 
Financial assets1 1 
Other non-current assets3 (1)
Total588 530 
8.2     Change in net current assets and other operating cash flow items
Six months ended June 30
($ millions)20222021
(Increase) in inventories(118)(184)
(Increase) in trade receivables(151)(117)
Increase in trade payables8 23 
Net change in other operating assets(16)20 
Net change in other operating liabilities(154)(18)
Total(431)(276)
v3.22.2
Equity-based compensation
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangements [Abstract]  
Equity-based compensation Equity-based compensation
As described in Note 24 to the Consolidated Financial Statements in the Form 20-F, Alcon has various equity incentive plans, under which Alcon may grant awards in the form of restricted stock units ("RSUs"), performance-based restricted stock units ("PSUs"), restricted stock awards ("RSAs"), or any other form of award at the discretion of the Board. Certain associates in select countries may also participate in share ownership savings plans.
The below table summarizes unvested share movements for all Alcon equity-based incentive plans for the six months ended June 30, 2022 and 2021:
Six months ended June 30
(shares in millions)20222021
Unvested at January 15.6 5.4 
Granted1.8 1.8 
Vested(2.1)(1.1)
Forfeited(0.1)(0.2)
Unvested at June 305.2 5.9 
v3.22.2
Acquisitions
 6 Months Ended
Jun. 30, 2022
Asset Acquisitions [Abstract]  
Acquisitions Acquisitions
The below table summarizes the purchase price allocation for asset acquisitions in the six months ended June 30, 2022 and 2021, including initial direct costs:
Six months ended June 30
($ millions)20222021
Currently marketed products385 — 
Acquired in-process research & development10 — 
Other intangible assets (including software)12 — 
Deferred tax assets57 — 
Trade receivables10 — 
Inventory16 — 
Cash and cash equivalents4 — 
Other assets6 — 
Trade payables and other liabilities(11)— 
Net identifiable assets acquired489 — 
Acquired liquidity(4)— 
Net assets recognized as a result of asset acquisitions485 — 
During the six months ended June 30, 2022, cash paid for acquisitions, net of cash acquired, was $483 million, the most significant of which was $475 million paid for Ivantis, Inc., described below.
Surgical - Acquisition of Ivantis, Inc.
On January 7, 2022, Alcon acquired 100% of the outstanding shares and equity of Ivantis, Inc., a privately-held, US-based company and manufacturer of the Hydrus Microstent, a minimally-invasive glaucoma surgery (“MIGS”) device designed to lower intraocular pressure for open-angle glaucoma patients. The acquisition expands Alcon’s surgical portfolio and is expected to help provide a platform for more growth in the glaucoma space. Pursuant to the terms and subject to the conditions of the Option Agreement and Plan of Merger, as amended, Alcon agreed to pay total upfront consideration of $479 million and additional amounts to be potentially paid upon achievement of a development milestone and commercial milestones calculated as a percentage of sales in excess of defined targets that expire in calendar year 2024.
The acquisition was accounted for as an asset acquisition rather than a business combination as substantially all of the fair value of the gross assets acquired is concentrated in the value of the Hydrus Microstent commercially marketed product intangible assets, being a group of identifiable assets. Consequently, a relative fair value approach was taken for allocating the consideration to the acquired assets and liabilities with no goodwill recognized.
During the six months ended June 30, 2022, cash paid for the acquisition, net of cash acquired, was $475 million. An additional $2 million is expected to be paid in the third quarter of 2022.
v3.22.2
Subsequent events
 6 Months Ended
Jun. 30, 2022
Events After Reporting Period [Abstract]  
Subsequent events Subsequent events
On July 8, 2022, Alcon acquired two pharmaceutical ophthalmic eye drops, Eysuvis and Inveltys from Kala Pharmaceuticals, Inc. The acquisition complements Alcon’s existing portfolio in the large and fast-growing dry eye category. Pursuant to the terms of the Asset Purchase Agreement, Alcon agreed to pay total up front consideration of $60 million for Eysuvis and Inveltys, and an additional amount to purchase certain related inventory, as well as amounts to be potentially paid upon achievement of certain commercial milestones if annual sales exceed defined targets that expire after 2029.
These unaudited Condensed Consolidated Interim Financial Statements were authorized for issue by the Audit & Risk Committee on August 9, 2022.
v3.22.2
Selected accounting policies (Policies)
 6 Months Ended
Jun. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]  
Statement of IFRS compliance The accompanying Condensed Consolidated Interim Financial Statements present our historical financial position, results of operations, comprehensive income and cash flows in accordance with IFRS.
Use of estimates and assumptions The preparation of financial statements requires management to make subjective and complex estimates and assumptions, either at the balance sheet date or during the period that affect the reported amounts of assets and liabilities as well as revenues and expenses. We have analyzed the impact of the war on Ukraine, economic sanctions and export controls on Russia and the COVID-19 pandemic on our financial statements for the three and six months ended June 30, 2022 and 2021. We have assessed various accounting estimates and other matters, including those that require consideration of forecasted financial information, in the context of the unknown future impacts of these and other events using information reasonably available to us at this time. The accounting estimates and other matters assessed included, but were not limited to, provisions for expected credit losses, goodwill and other intangible assets, financial instruments, inventory provisions, associate benefits, income taxes and revenue recognition. Based on our assessment performed, the resulting provisions recorded were not material to our Condensed Consolidated Interim Financial Statements for the three or six months ended June 30, 2022 or 2021. However, because of the inherent uncertainties of the continuation of the war on Ukraine, COVID-19 or other items, actual outcomes and results may differ materially from management's current assumptions and estimates.
Foreign currencies The hyperinflationary economies in which Alcon operates are Argentina, Turkey and Venezuela. Argentina and Venezuela were hyperinflationary for all periods presented. Turkey became hyperinflationary effective April 1, 2022, requiring retroactive implementation from January 1, 2022 of hyperinflationary accounting. The accounting policy for hyperinflationary economies is described in Note 3 to the Consolidated Financial Statements in the Form 20-F.
Impairment of goodwill, Alcon brand name and definite lived intangible assets As discussed in Note 3 to the Consolidated Financial Statements in the Form 20-F, Goodwill, the Alcon brand name and acquired In-process research & development projects are reviewed for impairment at least annually and these, as well as all other investments in intangible assets, are reviewed for impairment whenever events or changes in circumstance indicate that the asset's balance sheet or reportable segment carrying amount may not be recoverable. Goodwill and other intangible assets represent a significant amount of total assets on the Consolidated Balance Sheet. Impairment testing may lead to potentially significant impairment charges in the future, which could have a materially adverse impact on Alcon's results of operations and financial condition.
v3.22.2
Segmentation of key figures (Tables)
 6 Months Ended
Jun. 30, 2022
Operating Segments [Abstract]  
Disclosure of operating segments
Net sales and other revenues by segment
Three months ended June 30Six months ended June 30
($ millions)2022202120222021
Surgical
Implantables444 387 899 731 
Consumables644 620 1,245 1,155 
Equipment/other208 199 411 397 
Total Surgical net sales to third parties1,296 1,206 2,555 2,283 
Vision Care
Contact lenses547 535 1,104 1,044 
Ocular health357 353 716 677 
Total Vision Care net sales to third parties904 888 1,820 1,721 
Total net sales to third parties2,200 2,094 4,375 4,004 
Vision Care other revenues17 16 31 36 
Total net sales and other revenues2,217 2,110 4,406 4,040 
Segment contribution and reconciliation to income before taxes
Three months ended June 30Six months ended June 30
($ millions)2022202120222021
Segment contribution
Surgical348 327 720 602 
Vision Care147 146 317 292 
Total segment contribution495 473 1,037 894 
Not allocated to segments:
Amortization of intangible assets(162)(143)(324)(283)
Impairment charges on intangible assets(61)— (61)(45)
General & administration (corporate)(70)(69)(132)(126)
Separation costs— (6)— (16)
Transformation costs(9)(15)(24)(26)
Fair value adjustments to contingent consideration liabilities7 — 7 — 
Past service costs for post-employment benefit plan amendments— — — 2 
Other— (11)(57)(22)
Operating income200 229 446 378 
Interest expense(31)(30)(60)(61)
Other financial income & expense(22)(8)(39)(17)
Income before taxes147 191 347 300 
Disclosure of geographical areas
Net sales by region(1)
Three months ended June 30Six months ended June 30
($ millions unless indicated otherwise)2022202120222021
United States990 45 %958 46 %1,929 44 %1,793 45 %
International1,210 55 %1,136 54 %2,446 56 %2,211 55 %
Net sales to third parties2,200 100 %2,094 100 %4,375 100 %4,004 100 %
(1) Net sales to third parties by location of third-party customer.
v3.22.2
Non-current and current financial debts (Tables)
 6 Months Ended
Jun. 30, 2022
Disclosure Of Borrowings [Abstract]  
Schedule of financial debts
The below table summarizes non-current and current Financial debts outstanding as of June 30, 2022 and December 31, 2021.
($ millions)June 30, 2022December 31, 2021
Non-current financial debts
Facility B637 796 
Facility C— 395 
Local facilities (Japan)— 47 
Series 2026 notes497 496 
Series 2028 notes517 — 
Series 2029 notes993 993 
Series 2030 notes745 745 
Series 2049 notes494 494 
Revolving facility— — 
Total non-current financial debts3,883 3,966 
Current financial debts
Local facilities:
Japan70 84 
All others9 17 
Other short-term financial debts7 6 
Derivatives1 7 
Total current financial debts87 114 
Total financial debts3,970 4,080 
v3.22.2
Financial instruments (Tables)
 6 Months Ended
Jun. 30, 2022
Financial Instruments [Abstract]  
Disclosure of fair value measurement of assets
The below tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of June 30, 2022 and December 31, 2021.
June 30, 2022
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 65 — 65 
Long-term financial investments measured at FVPL— — 5 — 5 
Long-term receivables from customers— — — 117 117 
Deferred compensation assets(1)
135 — — — 135 
Non-current minimum lease payments from finance lease agreements— — — 38 38 
Long-term loans, advances and security deposits— — — 21 21 
Non-current financial assets135 — 70 176 381 
Current financial assets
Money market funds241 — — — 241 
Current portion of long-term receivables from customers(2)
— — — 102 102 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 26 26 
Other receivables, security deposits and current assets(2)
— — — 70 70 
VAT receivables(2)
— — — 75 75 
Derivative financial instruments(2)
— 7 — — 7 
Current financial assets241 7 — 273 521 
Financial assets at fair value and amortized cost or cost376 7 70 449 902 
Financial liabilities
Contingent consideration liabilities— — (109)— (109)
Non-current financial debt— — — (3,883)(3,883)
Current financial debt— — — (86)(86)
Derivative financial instruments— (1)— — (1)
Financial liabilities at fair value and amortized cost— (1)(109)(3,969)(4,079)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2028, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,912 million and a carrying value of $3,246 million as of June 30, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
December 31, 2021
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 46 — 46 
Long-term financial investments measured at FVPL— — 6 — 6 
Long-term receivables from customers— — — 110 110 
Deferred compensation assets(1)
155 — — — 155 
Non-current minimum lease payments from finance lease agreements— — — 35 35 
Long-term loans, advances and security deposits— — — 20 20 
Non-current financial assets155 — 52 165 372 
Current financial assets
Money market funds624 — — — 624 
Equity securities of public companies(2)
3 — — — 3 
Current portion of long-term receivables from customers(2)
— — — 97 97 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 28 28 
Other receivables, security deposits and current assets(2)
— — — 79 79 
VAT receivables(2)
— — — 105 105 
Derivative financial instruments(2)
— 3 — — 3 
Current financial assets627 3 — 309 939 
Financial assets at fair value and amortized cost or cost782 3 52 474 1,311 
Financial liabilities
Contingent consideration liabilities— — (112)— (112)
Non-current financial debt— — — (3,966)(3,966)
Current financial debt— — — (107)(107)
Derivative financial instruments— (7)— — (7)
Financial liabilities at fair value and amortized cost— (7)(112)(4,073)(4,192)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,891 million and a carrying value of $2,728 million as of December 31, 2021. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
Financial assets
Long-term financial investments measured
at FVOCI		Financial investments
measured at FVPL
($ millions)2022202120222021
Balance as of January 146 28 6 24 
Additions19 9 — — 
Gain recognized in Consolidated Statement of Comprehensive Income1 — — — 
Unrealized (losses) in Consolidated Income Statement— — (1)(1)
Amortization— — — (8)
Settlement(1)— — — 
Balance as of June 3065 37 5 15 
Disclosure of fair value measurement of liabilities
The below tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of June 30, 2022 and December 31, 2021.
June 30, 2022
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 65 — 65 
Long-term financial investments measured at FVPL— — 5 — 5 
Long-term receivables from customers— — — 117 117 
Deferred compensation assets(1)
135 — — — 135 
Non-current minimum lease payments from finance lease agreements— — — 38 38 
Long-term loans, advances and security deposits— — — 21 21 
Non-current financial assets135 — 70 176 381 
Current financial assets
Money market funds241 — — — 241 
Current portion of long-term receivables from customers(2)
— — — 102 102 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 26 26 
Other receivables, security deposits and current assets(2)
— — — 70 70 
VAT receivables(2)
— — — 75 75 
Derivative financial instruments(2)
— 7 — — 7 
Current financial assets241 7 — 273 521 
Financial assets at fair value and amortized cost or cost376 7 70 449 902 
Financial liabilities
Contingent consideration liabilities— — (109)— (109)
Non-current financial debt— — — (3,883)(3,883)
Current financial debt— — — (86)(86)
Derivative financial instruments— (1)— — (1)
Financial liabilities at fair value and amortized cost— (1)(109)(3,969)(4,079)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2028, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,912 million and a carrying value of $3,246 million as of June 30, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
December 31, 2021
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 46 — 46 
Long-term financial investments measured at FVPL— — 6 — 6 
Long-term receivables from customers— — — 110 110 
Deferred compensation assets(1)
155 — — — 155 
Non-current minimum lease payments from finance lease agreements— — — 35 35 
Long-term loans, advances and security deposits— — — 20 20 
Non-current financial assets155 — 52 165 372 
Current financial assets
Money market funds624 — — — 624 
Equity securities of public companies(2)
3 — — — 3 
Current portion of long-term receivables from customers(2)
— — — 97 97 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 28 28 
Other receivables, security deposits and current assets(2)
— — — 79 79 
VAT receivables(2)
— — — 105 105 
Derivative financial instruments(2)
— 3 — — 3 
Current financial assets627 3 — 309 939 
Financial assets at fair value and amortized cost or cost782 3 52 474 1,311 
Financial liabilities
Contingent consideration liabilities— — (112)— (112)
Non-current financial debt— — — (3,966)(3,966)
Current financial debt— — — (107)(107)
Derivative financial instruments— (7)— — (7)
Financial liabilities at fair value and amortized cost— (7)(112)(4,073)(4,192)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,891 million and a carrying value of $2,728 million as of December 31, 2021. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
Financial liabilities
Contingent consideration liabilities
($ millions)20222021
Balance as of January 1(112)(157)
Accretion for passage of time(4)(7)
Adjustments for changes in assumptions7 — 
Payments— 15 
Balance as of June 30(109)(149)
v3.22.2
Condensed consolidated statements of cash flows - additional details (Tables)
 6 Months Ended
Jun. 30, 2022
Cash Flow Statement [Abstract]  
Depreciation, amortization, impairments and fair value adjustments
Six months ended June 30
($ millions)20222021
Property, plant & equipment161 160 
Right-of-use assets38 42 
Intangible assets385 328 
Financial assets1 1 
Other non-current assets3 (1)
Total588 530 
Change in net current assets and other operating cash flow items
Six months ended June 30
($ millions)20222021
(Increase) in inventories(118)(184)
(Increase) in trade receivables(151)(117)
Increase in trade payables8 23 
Net change in other operating assets(16)20 
Net change in other operating liabilities(154)(18)
Total(431)(276)
v3.22.2
Equity-based compensation (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangements [Abstract]  
Summary of unvested share movements
The below table summarizes unvested share movements for all Alcon equity-based incentive plans for the six months ended June 30, 2022 and 2021:
Six months ended June 30
(shares in millions)20222021
Unvested at January 15.6 5.4 
Granted1.8 1.8 
Vested(2.1)(1.1)
Forfeited(0.1)(0.2)
Unvested at June 305.2 5.9 
v3.22.2
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2022
Asset Acquisitions [Abstract]  
Summary of purchase price allocation
The below table summarizes the purchase price allocation for asset acquisitions in the six months ended June 30, 2022 and 2021, including initial direct costs:
Six months ended June 30
($ millions)20222021
Currently marketed products385 — 
Acquired in-process research & development10 — 
Other intangible assets (including software)12 — 
Deferred tax assets57 — 
Trade receivables10 — 
Inventory16 — 
Cash and cash equivalents4 — 
Other assets6 — 
Trade payables and other liabilities(11)— 
Net identifiable assets acquired489 — 
Acquired liquidity(4)— 
Net assets recognized as a result of asset acquisitions485 — 
v3.22.2
Significant transactions (Details)
€ in Millions, $ in Millions
 6 Months Ended
May 31, 2022
USD ($)
May 31, 2022
EUR (€)
Jan. 07, 2022
USD ($)
Jun. 08, 2021
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2022
EUR (€)
May 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Significant Transactions [Line Items]                  
Borrowings         $ 3,970       $ 4,080
Repayments of non-current borrowings         536 $ 0      
Cash paid for the acquisition     $ 479   483 0      
Purchase of intangible assets         23 $ 411      
Series 2028 notes                  
Significant Transactions [Line Items]                  
Borrowings $ 537       $ 522   € 500    
Borrowings, interest rate 2.375%       2.375%   2.375%    
Facility C Term Loan                  
Significant Transactions [Line Items]                  
Repayments of non-current borrowings $ 376 € 350              
Facility B Term Loan                  
Significant Transactions [Line Items]                  
Borrowings         $ 640     $ 800  
Repayments of non-current borrowings | €   € 160              
Simbrinza                  
Significant Transactions [Line Items]                  
Purchase of intangible assets       $ 355          
v3.22.2
Segmentation of key figures - Narrative (Details)
Jun. 30, 2022
segment
Operating Segments [Abstract]  
Number of reportable segments 2
v3.22.2
Segmentation of key figures - Net sales by segment and Consolidated income statements (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Disclosure of operating segments [line items]        
Net sales to third parties $ 2,200 $ 2,094 $ 4,375 $ 4,004
Other revenues 17 16 31 36
Net sales and other revenues 2,217 2,110 4,406 4,040
Total segment contribution 495 473 1,037 894
Amortization of intangible assets (162) (143) (324) (283)
Impairment charges on intangible assets (61) 0 (61) (45)
General & administration (corporate) (70) (69) (132) (126)
Separation costs 0 (6) 0 (16)
Transformation costs (9) (15) (24) (26)
Fair value adjustments to contingent consideration liabilities 7 0 7 0
Past service costs for post-employment benefit plan amendments 0 0 0 2
Other 0 (11) (57) (22)
Operating income 200 229 446 378
Interest expense (31) (30) (60) (61)
Other financial income & expense (22) (8) (39) (17)
Income before taxes 147 191 347 300
Surgical        
Disclosure of operating segments [line items]        
Net sales to third parties 1,296 1,206 2,555 2,283
Total segment contribution 348 327 720 602
Surgical | Implantables        
Disclosure of operating segments [line items]        
Net sales to third parties 444 387 899 731
Surgical | Consumables        
Disclosure of operating segments [line items]        
Net sales to third parties 644 620 1,245 1,155
Surgical | Equipment/other        
Disclosure of operating segments [line items]        
Net sales to third parties 208 199 411 397
Vision Care        
Disclosure of operating segments [line items]        
Net sales to third parties 904 888 1,820 1,721
Total segment contribution 147 146 317 292
Vision Care | Contact lenses        
Disclosure of operating segments [line items]        
Net sales to third parties 547 535 1,104 1,044
Vision Care | Ocular health        
Disclosure of operating segments [line items]        
Net sales to third parties $ 357 $ 353 $ 716 $ 677
v3.22.2
Segmentation of key figures - Net sales by region (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Disclosure of geographical areas [line items]        
Net sales to third parties $ 2,200 $ 2,094 $ 4,375 $ 4,004
Percentage of entity's revenue 100.00% 100.00% 100.00% 100.00%
United States        
Disclosure of geographical areas [line items]        
Net sales to third parties $ 990 $ 958 $ 1,929 $ 1,793
Percentage of entity's revenue 45.00% 46.00% 44.00% 45.00%
International        
Disclosure of geographical areas [line items]        
Net sales to third parties $ 1,210 $ 1,136 $ 2,446 $ 2,211
Percentage of entity's revenue 55.00% 54.00% 56.00% 55.00%
v3.22.2
Dividend and earnings/(loss) per share (Details)
shares in Millions, $ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
May 31, 2022
SFr / shares
May 31, 2022
USD ($)
May 31, 2021
SFr / shares
May 31, 2021
USD ($)
Jun. 30, 2022
shares
Jun. 30, 2021
shares
Jun. 30, 2022
shares
Jun. 30, 2021
shares
Earnings per share [abstract]                
Dividends (in CHF per share) | SFr / shares SFr 0.20   SFr 0.10          
Dividends | $   $ 100   $ 54        
Number of shares outstanding         491.6   491.6  
Number of shares vested             1.5  
Weighted average number of shares outstanding - basic (in shares)         491.7 490.0 491.3 489.9
Weighted average number of shares outstanding - diluted (in shares)         494.3 493.2 494.2 492.8
Potentially dilutive shares         2.6 3.2 2.9 2.9
v3.22.2
Intangible assets other than goodwill (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Disclosure of detailed information about intangible assets [line items]        
Impairment of intangibles $ 61 $ 0 $ 61 $ 45
Discount rate, measurement input | Intangible assets        
Disclosure of detailed information about intangible assets [line items]        
Significant unobservable input, assets 0.078   0.078  
Surgical        
Disclosure of detailed information about intangible assets [line items]        
Recoverable amount of CGU $ 15   $ 15  
Surgical | Cost of net sales        
Disclosure of detailed information about intangible assets [line items]        
Impairment of intangibles 59   59  
Vision Care        
Disclosure of detailed information about intangible assets [line items]        
Recoverable amount of CGU   $ 48   48
Vision Care | Cost of net sales        
Disclosure of detailed information about intangible assets [line items]        
Impairment of intangibles       $ 45
Vision Care | Research and development        
Disclosure of detailed information about intangible assets [line items]        
Impairment of intangibles $ 2   $ 2  
v3.22.2
Non-current and current financial debts - Schedule of financial debts (Details)
€ in Millions, $ in Millions
Jun. 30, 2022
USD ($)
Jun. 30, 2022
EUR (€)
May 31, 2022
USD ($)
Feb. 28, 2022
USD ($)
Dec. 31, 2021
USD ($)
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts $ 3,883       $ 3,966
Total current financial debts 87       114
Total financial debts 3,970       4,080
Facility B          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 637       796
Facility C          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 0       395
Local facilities (Japan)          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 0       47
Total current financial debts 70       84
Total financial debts       $ 62  
Series 2026 notes          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 497       496
Series 2028 notes          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 517       0
Total financial debts 522 € 500 $ 537    
Series 2029 notes          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 993       993
Series 2030 notes          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 745       745
Series 2049 notes          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 494       494
Revolving facility          
Disclosure of detailed information about borrowings [line items]          
Total non-current financial debts 0       0
Local facilities, all others          
Disclosure of detailed information about borrowings [line items]          
Total current financial debts 9       17
Other short-term financial debts          
Disclosure of detailed information about borrowings [line items]          
Total current financial debts 7       6
Derivatives          
Disclosure of detailed information about borrowings [line items]          
Total current financial debts $ 1       $ 7
v3.22.2
Non-current and current financial debts - Additional information (Details)
€ in Millions, $ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
May 31, 2022
USD ($)
May 31, 2022
EUR (€)
Feb. 28, 2022
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2022
EUR (€)
May 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Disclosure of detailed information about borrowings [line items]                    
Interest expense       $ 25 $ 24 $ 49 $ 48      
Borrowings       3,970   3,970       $ 4,080
Repayments of non-current borrowings           536 $ 0      
Write-off of unamortized deferred financing costs       1   1        
Series 2028 notes                    
Disclosure of detailed information about borrowings [line items]                    
Borrowings $ 537     $ 522   $ 522   € 500    
Borrowings, percentage of principal amount           99.476%        
Borrowings, interest rate 2.375%     2.375%   2.375%   2.375%    
Borrowings discount       $ 3   $ 3        
Debt issuance costs           3        
Facility C Term Loan                    
Disclosure of detailed information about borrowings [line items]                    
Repayments of non-current borrowings $ 376 € 350                
Facility B Term Loan                    
Disclosure of detailed information about borrowings [line items]                    
Borrowings       $ 640   $ 640     $ 800  
Repayments of non-current borrowings | €   € 160                
Local facilities (Japan)                    
Disclosure of detailed information about borrowings [line items]                    
Borrowings     $ 62              
Borrowings term     1 year              
v3.22.2
Financial instruments - Schedule of fair value of assets and liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2020
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets $ 246 $ 217    
Senior Notes Due 2026, 2028, 2029, 2030 and 2049        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value 2,912      
Series Notes Due 2026, 2029, 2030 and 2049        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value   2,891    
Measured at amortized cost or cost        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (3,969) (4,073)    
Measured at amortized cost or cost | Senior Notes Due 2026, 2028, 2029, 2030 and 2049        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (3,246)      
Measured at amortized cost or cost | Series Notes Due 2026, 2029, 2030 and 2049        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost   (2,728)    
Measured at amortized cost or cost | Non-current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (3,883) (3,966)    
Measured at amortized cost or cost | Current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (86) (107)    
Measured at amortized cost or cost        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 176 165    
Current financial assets 273 309    
Financial assets at fair value and amortized cost or cost 449 474    
Measured at amortized cost or cost | Long-term receivables from customers        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 117 110    
Current financial assets 102 97    
Measured at amortized cost or cost | Minimum lease payments from finance lease agreements        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 38 35    
Current financial assets 26 28    
Measured at amortized cost or cost | Long-term loans, advances and security deposits        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 21 20    
Measured at amortized cost or cost | Other receivables, security deposits and current assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 70 79    
Measured at amortized cost or cost | VAT receivables        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 75 105    
Level 3 | Contingent consideration liabilities        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (109) (112) $ (149) $ (157)
Level 3 | Measured at FVOCI | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial assets at fair value and amortized cost or cost 65 46 37 28
Level 3 | Measured at FVPL | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial assets at fair value and amortized cost or cost 5 6 $ 15 $ 24
Recurring fair value measurement        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 381 372    
Current financial assets 521 939    
Financial assets at fair value and amortized cost or cost 902 1,311    
Financial liabilities, at fair value and amortized cost (4,079) (4,192)    
Recurring fair value measurement | Measured at FVPL | Contingent consideration liabilities        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost   (112)    
Recurring fair value measurement | Measured at FVPL | Derivative financial instruments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (1) (7)    
Recurring fair value measurement | Measured at FVPL | Contingent consideration [member]        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (109)      
Recurring fair value measurement | Measured at amortized cost or cost | Non-current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (3,883) (3,966)    
Recurring fair value measurement | Measured at amortized cost or cost | Current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (86) (107)    
Recurring fair value measurement | Money market funds        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 241 624    
Recurring fair value measurement | Measured at FVOCI | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 65 46    
Recurring fair value measurement | Measured at FVPL | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 5 6    
Recurring fair value measurement | Measured at FVPL | Deferred compensation assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 135 155    
Recurring fair value measurement | Measured at FVPL | Equity securities of public companies        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets   3    
Recurring fair value measurement | Measured at FVPL | Derivative financial instruments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 7 3    
Recurring fair value measurement | Measured at amortized cost or cost | Long-term receivables from customers        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 117 110    
Current financial assets 102 97    
Recurring fair value measurement | Measured at amortized cost or cost | Minimum lease payments from finance lease agreements        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 38 35    
Current financial assets 26 28    
Recurring fair value measurement | Measured at amortized cost or cost | Long-term loans, advances and security deposits        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 21 20    
Recurring fair value measurement | Measured at amortized cost or cost | Other receivables, security deposits and current assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 70 79    
Recurring fair value measurement | Measured at amortized cost or cost | VAT receivables        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 75 105    
Recurring fair value measurement | Level 1        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 135 155    
Current financial assets 241 627    
Financial assets at fair value and amortized cost or cost 376 782    
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 1 | Measured at FVPL | Contingent consideration liabilities        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost   0    
Recurring fair value measurement | Level 1 | Measured at FVPL | Derivative financial instruments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 1 | Measured at FVPL | Contingent consideration [member]        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0      
Recurring fair value measurement | Level 1 | Measured at amortized cost or cost | Non-current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 1 | Measured at amortized cost or cost | Current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 1 | Money market funds        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 241 624    
Recurring fair value measurement | Level 1 | Measured at FVOCI | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 1 | Measured at FVPL | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 1 | Measured at FVPL | Deferred compensation assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 135 155    
Recurring fair value measurement | Level 1 | Measured at FVPL | Equity securities of public companies        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets   3    
Recurring fair value measurement | Level 1 | Measured at FVPL | Derivative financial instruments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 1 | Measured at amortized cost or cost | Long-term receivables from customers        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Current financial assets 0 0    
Recurring fair value measurement | Level 1 | Measured at amortized cost or cost | Minimum lease payments from finance lease agreements        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Current financial assets 0 0    
Recurring fair value measurement | Level 1 | Measured at amortized cost or cost | Long-term loans, advances and security deposits        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 1 | Measured at amortized cost or cost | Other receivables, security deposits and current assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 1 | Measured at amortized cost or cost | VAT receivables        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 2        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Current financial assets 7 3    
Financial assets at fair value and amortized cost or cost 7 3    
Financial liabilities, at fair value and amortized cost (1) (7)    
Recurring fair value measurement | Level 2 | Measured at FVPL | Contingent consideration liabilities        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost   0    
Recurring fair value measurement | Level 2 | Measured at FVPL | Derivative financial instruments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (1) (7)    
Recurring fair value measurement | Level 2 | Measured at FVPL | Contingent consideration [member]        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0      
Recurring fair value measurement | Level 2 | Measured at amortized cost or cost | Non-current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 2 | Measured at amortized cost or cost | Current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 2 | Money market funds        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 2 | Measured at FVOCI | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 2 | Measured at FVPL | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 2 | Measured at FVPL | Deferred compensation assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 2 | Measured at FVPL | Equity securities of public companies        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets   0    
Recurring fair value measurement | Level 2 | Measured at FVPL | Derivative financial instruments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 7 3    
Recurring fair value measurement | Level 2 | Measured at amortized cost or cost | Long-term receivables from customers        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Current financial assets 0 0    
Recurring fair value measurement | Level 2 | Measured at amortized cost or cost | Minimum lease payments from finance lease agreements        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Current financial assets 0 0    
Recurring fair value measurement | Level 2 | Measured at amortized cost or cost | Long-term loans, advances and security deposits        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 2 | Measured at amortized cost or cost | Other receivables, security deposits and current assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 2 | Measured at amortized cost or cost | VAT receivables        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 3        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 70 52    
Current financial assets 0 0    
Financial assets at fair value and amortized cost or cost 70 52    
Financial liabilities, at fair value and amortized cost (109) (112)    
Recurring fair value measurement | Level 3 | Measured at FVPL | Contingent consideration liabilities        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost   (112)    
Recurring fair value measurement | Level 3 | Measured at FVPL | Derivative financial instruments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 3 | Measured at FVPL | Contingent consideration [member]        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost (109)      
Recurring fair value measurement | Level 3 | Measured at amortized cost or cost | Non-current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 3 | Measured at amortized cost or cost | Current financial debt        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Financial liabilities, at fair value and amortized cost 0 0    
Recurring fair value measurement | Level 3 | Money market funds        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 3 | Measured at FVOCI | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 65 46    
Recurring fair value measurement | Level 3 | Measured at FVPL | Long-term financial investments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 5 6    
Recurring fair value measurement | Level 3 | Measured at FVPL | Deferred compensation assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 3 | Measured at FVPL | Equity securities of public companies        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets   0    
Recurring fair value measurement | Level 3 | Measured at FVPL | Derivative financial instruments        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 3 | Measured at amortized cost or cost | Long-term receivables from customers        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Current financial assets 0 0    
Recurring fair value measurement | Level 3 | Measured at amortized cost or cost | Minimum lease payments from finance lease agreements        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Current financial assets 0 0    
Recurring fair value measurement | Level 3 | Measured at amortized cost or cost | Long-term loans, advances and security deposits        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Non-current financial assets 0 0    
Recurring fair value measurement | Level 3 | Measured at amortized cost or cost | Other receivables, security deposits and current assets        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets 0 0    
Recurring fair value measurement | Level 3 | Measured at amortized cost or cost | VAT receivables        
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]        
Current financial assets $ 0 $ 0    
v3.22.2
Financial instruments - Activity in level 3 financial assets (Details) - Level 3 - Financial investments - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Measured at FVOCI    
Changes in fair value measurement, assets [abstract]    
Balance as of January 1 $ 46 $ 28
Additions 19 9
Gain recognized in Consolidated Statement of Comprehensive Income 1 0
Unrealized (losses) in Consolidated Income Statement 0 0
Amortization 0 0
Settlement (1) 0
Balance as of June 30 65 37
Measured at FVPL    
Changes in fair value measurement, assets [abstract]    
Balance as of January 1 6 24
Additions 0 0
Gain recognized in Consolidated Statement of Comprehensive Income 0 0
Unrealized (losses) in Consolidated Income Statement (1) (1)
Amortization 0 (8)
Settlement 0 0
Balance as of June 30 $ 5 $ 15
v3.22.2
Financial instruments - Activity in level 3 financial liabilities (Details) - Level 3 - Contingent consideration liabilities - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Changes in fair value measurement, liabilities [abstract]    
Balance as of January 1 $ (112) $ (157)
Accretion for passage of time (4) (7)
Adjustments for changes in assumptions 7 0
Payments 0 15
Balance as of June 30 $ (109) $ (149)
v3.22.2
Financial instruments - Additional information (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Dec. 31, 2021
USD ($)
Disclosure of detailed information about borrowings [line items]      
Contingent amount $ 395    
Unsettled derivative positions - assets (liabilities), net 6   $ (4)
Gains on change in fair value of derivatives 7   3
Losses on change in fair value of derivatives $ 1   $ 7
Minimum      
Disclosure of detailed information about borrowings [line items]      
Probability of success, contingent consideration 0.55    
Maximum      
Disclosure of detailed information about borrowings [line items]      
Probability of success, contingent consideration 0.57    
Level 3 | Contingent consideration liabilities      
Disclosure of detailed information about borrowings [line items]      
Adjustments for changes in assumptions $ 7 $ 0  
Payments $ 0 $ 15  
v3.22.2
Condensed consolidated statements of cash flows - additional details - Depreciation, amortization, impairments and fair value adjustments (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Disclosure of detailed information about property, plant and equipment [line items]    
Total $ 588 $ 530
Property, plant & equipment    
Disclosure of detailed information about property, plant and equipment [line items]    
Total 161 160
Right-of-use assets    
Disclosure of detailed information about property, plant and equipment [line items]    
Total 38 42
Intangible assets    
Disclosure of detailed information about property, plant and equipment [line items]    
Total 385 328
Financial assets    
Disclosure of detailed information about property, plant and equipment [line items]    
Total 1 1
Other non-current assets    
Disclosure of detailed information about property, plant and equipment [line items]    
Total $ 3 $ (1)
v3.22.2
Condensed consolidated statements of cash flows - additional details - Change in net current assets and other operating cash flow items (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flow Statement [Abstract]    
(Increase) in inventories $ (118) $ (184)
(Increase) in trade receivables (151) (117)
Increase in trade payables 8 23
Net change in other operating assets (16) 20
Net change in other operating liabilities (154) (18)
Total $ (431) $ (276)
v3.22.2
Equity-based compensation (Details) - shares
shares in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Share-Based Payment Arrangements [Abstract]    
Unvested (in shares) 5.6 5.4
Granted (in shares) 1.8 1.8
Vested (in shares) (2.1) (1.1)
Forfeited (in shares) (0.1) (0.2)
Unvested (in shares) 5.2 5.9
v3.22.2
Legal proceedings update (Details)
$ in Millions
 90 Months Ended
Mar. 23, 2022
USD ($)
Jun. 30, 2022
complaint
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]    
Number of complaints | complaint   50
Settlement loss | $ $ 20  
v3.22.2
Acquisitions (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jan. 07, 2022
Sep. 30, 2022
Jun. 30, 2022
Jun. 30, 2021
Asset Acquisitions [Abstract]        
Currently marketed products     $ 385 $ 0
Acquired in-process research & development     10 0
Other intangible assets (including software)     12 0
Deferred tax assets     57 0
Trade receivables     10 0
Inventory     16 0
Cash and cash equivalents     4 0
Other assets     6 0
Trade payables and other liabilities     (11) 0
Net identifiable assets acquired     489 0
Acquired liquidity     (4) 0
Net assets recognized as a result of asset acquisitions     485 0
Significant Transactions [Line Items]        
Cash paid for the acquisition $ 479   483 $ 0
Ivantis        
Significant Transactions [Line Items]        
Cash paid for the acquisition $ 479   $ 475  
Percentage of outstanding shares acquired 100.00%      
Forecast | Ivantis        
Significant Transactions [Line Items]        
Cash paid for the acquisition   $ 2    
v3.22.2
Subsequent events (Details) - USD ($)
$ in Millions
 6 Months Ended
Jul. 08, 2022
Jan. 07, 2022
Jun. 30, 2022
Jun. 30, 2021
Disclosure of non-adjusting events after reporting period [line items]        
Cash paid for the acquisition   $ 479 $ 483 $ 0
Major purchases of assets        
Disclosure of non-adjusting events after reporting period [line items]        
Cash paid for the acquisition $ 60