Income Taxes and Valeant Pharmaceuticals

loss: Bausch Health Companies Inc., formerly known as Valeant Pharmaceuticals, experienced a bigger operating loss and a bigger provision for income taxes than last year, according to The Toronto Star. Ryan Remiorz / THE CANADIAN PRESS Its operating loss for the quarter ended June 30 was 245 million, which compared with a year-earlier operating profit of 175 million. The company, which reports in U.S. currency, says it recorded a 138-million provision for income taxes that represented a 343-million increase from the same time last year, when Valeant recorded a tax benefit. Read more Valeant changing name to distance itself from scandal Article Continued Below Valeant Pharmaceuticals shareholders vent frustrations at embattled drugmaker's AGMValeant sees profit bump due to tax reorganization The operating loss was due primarily to an asset impairment linked to the company's loss of exclusivity on a product. Bausch Health's adjusted net income fell to 327 million from 362 million a year ago, while revenue fell to 2.13 billion from 2.23 billion in the second quarter of 2018. react-empty 138 The adjusted net income was above the estimate of 272 million and revenue was above the estimate of 2.06 billion, according to Thomson Reuters Eikon. The net loss amounted to 2.49 per share, compared with a loss of 11 cents per share in the second quarter of 2017. (news.financializer.com). As reported in the news.