Alcon (ALC) 6-K15 Aug 23Alcon Reports Second Quarter 2023 ResultsFinancial data

Company Profile

COVER

COVER	6 Months Ended
COVER	Jun. 30, 2023
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, 2023
Entity Central Index Key	0001167379
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

CONSOLIDATED INCOME STATEMENT (

CONSOLIDATED INCOME STATEMENT (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Profit or loss [abstract]
Net sales to third parties	$ 2,402	$ 2,200	$ 4,735	$ 4,375
Other revenues	20	17	39	31
Net sales and other revenues	2,422	2,217	4,774	4,406
Cost of net sales	(1,040)	(999)	(2,070)	(1,966)
Cost of other revenues	(19)	(14)	(36)	(28)
Gross profit	1,363	1,204	2,668	2,412
Selling, general & administration	(832)	(803)	(1,617)	(1,544)
Research & development	(217)	(181)	(419)	(347)
Other income	5	3	10	12
Other expense	(49)	(23)	(104)	(87)
Operating income	270	200	538	446
Interest expense	(48)	(31)	(95)	(60)
Other financial income & expense	(9)	(22)	(17)	(39)
Income before taxes	213	147	426	347
Taxes	(44)	1	(83)	(31)
Net income	$ 169	$ 148	$ 343	$ 316
Earnings per share ($)
Basic (in dollars per share)	$ 0.34	$ 0.30	$ 0.70	$ 0.64
Diluted (in dollars per share)	$ 0.34	$ 0.30	$ 0.69	$ 0.64
Weighted average number of shares outstanding
Basic (in shares)	493.2	491.7	492.8	491.3
Diluted (in shares)	495.7	494.3	495.9	494.2

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of comprehensive income [abstract]
Net income		$ 169	$ 148	$ 343	$ 316
Other comprehensive income to be eventually recycled into the Consolidated Income Statement:
Currency translation effects, net of taxes	[1]	(18)	(67)	9	(65)
Total of items to eventually recycle		(18)	(67)	9	(65)
Other comprehensive income never to be recycled into the Consolidated Income Statement:
Actuarial gains/(losses) from defined benefit plans, net of taxes	[2]	1	49	(7)	120
Fair value adjustments on equity securities, net of taxes	[3]	1	0	2	1
Total of items never to be recycled		2	49	(5)	121
Total comprehensive income		$ 153	$ 130	$ 347	$ 372

[1]Amount is net of tax benefit of $1 million for the three months ended June 30, 2023. Amount is net of tax expense of $1 million for the three months ended June 30, 2022. Amount is net of tax benefit of $1 million for the six months ended June 30, 2023. Amount is net of tax expense of $1 million for the six months ended June 30, 2022.[2] Amounts are net of tax expense of $0.4 million and $13 million for the three months ended June 30 2023 and 2022, respectively. Amount is net of tax benefit of $2 million for the six months ended June 30, 2023. Amount is net of tax expense of $29 million for the six months ended June 30, 2022.

CONSOLIDATED STATEMENT OF COM_2

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of comprehensive income [abstract]
Currency translation effects, tax (benefit) expense	$ (1)	$ 1	$ (1)	$ 1
Actuarial gains/(losses) from defined benefit plans, tax expense (benefit)	0.4	13	(2)	29
Fair value adjustments on equity securities, tax expense	$ 0.4	$ 0.1	$ 0.8	$ 0.3

CONSOLIDATED BALANCE SHEET (una

CONSOLIDATED BALANCE SHEET (unaudited) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Non-current assets
Property, plant & equipment	$ 4,089	$ 4,025
Right-of-use assets	382	391
Goodwill	8,970	8,970
Intangible assets other than goodwill	9,368	9,689
Deferred tax assets	406	411
Financial assets	513	287
Other non-current assets	281	243
Total non-current assets	24,009	24,016
Current assets
Inventories	2,270	2,109
Trade receivables	1,792	1,673
Income tax receivables	40	13
Cash and cash equivalents	661	980
Other current assets	437	418
Total current assets	5,200	5,193
Total assets	29,209	29,209
Equity
Share capital	20	20
Reserves	19,919	19,657
Total equity	19,939	19,677
Non-current liabilities
Financial debts	4,581	4,541
Lease liabilities	354	359
Deferred tax liabilities	1,097	1,064
Provisions & other non-current liabilities	832	786
Total non-current liabilities	6,864	6,750
Current liabilities
Trade payables	902	861
Financial debts	100	107
Lease liabilities	72	71
Current income tax liabilities	153	219
Provisions & other current liabilities	1,179	1,524
Total current liabilities	2,406	2,782
Total liabilities	9,270	9,532
Total equity and liabilities	$ 29,209	$ 29,209

CONSOLIDATED STATEMENTS OF CHAN

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, 2021		$ 19,256	$ 20	$ 19,356	$ (32)	$ (74)	$ (14)	$ (120)
Net income		316		316
Other comprehensive income/(loss)		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
Total other movements		(87)		(87)
Ending balance at Jun. 30, 2022		19,541	20	19,585	(31)	46	(79)	(64)
Beginning balance at Dec. 31, 2022		19,677	20	19,673	(33)	67	(50)	(16)
Net income		343		343
Other comprehensive income/(loss)		4			2	(7)	9	4
Total comprehensive income		347		343	2	(7)	9	4
Dividends		(117)		(117)
Equity-based compensation		23		23
Other movements	[2]	9		9
Total other movements		(85)		(85)
Ending balance at Jun. 30, 2023		$ 19,939	$ 20	$ 19,931	$ (31)	$ 60	$ (41)	$ (12)

[1]"Total value adjustments" are presented net of the corresponding tax effects.[2]Activity includes hyperinflationary accounting.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of cash flows [abstract]
Net income	$ 343	$ 316
Adjustments to reconcile net income to net cash flows from operating activities
Depreciation, amortization, impairments and fair value adjustments	603	588
Equity-based compensation expense	74	70
Non-cash change in current and non-current provisions and other non-current liabilities	49	40
Losses on disposal and other adjustments on property, plant & equipment and other non-current assets, net	14	2
Interest expense	95	60
Other financial income & expense	17	39
Taxes	83	31
Interest received	15	2
Interest paid	(94)	(53)
Other financial payments	(4)	(4)
Taxes paid	(151)	(120)
Net cash flows before working capital changes and net payments out of provisions and other non-current liabilities	1,044	971
Net payments out of provisions and other cash movements in non-current liabilities	(214)	(70)
Change in net current assets and other operating cash flow items	(420)	(431)
Net cash flows from operating activities	410	470
Purchase of property, plant & equipment	(221)	(237)
Purchase of intangible assets	(132)	(23)
Payments for financial assets	(216)	(21)
Proceeds from financial assets	1	2
Acquisitions of assets, net of cash acquired	0	(483)
Net cash flows used in investing activities	(568)	(762)
Dividends paid to shareholders of Alcon Inc.	(116)	(100)
Repayment of current portion of non-current financial debts	(34)	0
Proceeds from current financial debts	40	0
Proceeds from non-current financial debts, net of issuance costs	29	531
Repayment of non-current financial debts	0	(536)
Other changes in current financial debts	4	(52)
Lease payments	(38)	(34)
Payment of withholding taxes related to equity-based compensation	(43)	(46)
Other financing cash flows	(8)	(40)
Net cash flows used in financing activities	(166)	(277)
Effect of exchange rate changes on cash and cash equivalents	5	24
Net change in cash and cash equivalents	(319)	(545)
Cash and cash equivalents at January 1	980	1,575
Cash and cash equivalents at June 30	$ 661	$ 1,030

Selected accounting policies

Selected accounting policies	6 Months Ended
Selected accounting policies	Jun. 30, 2023
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 2 to the December 31, 2022 Consolidated Financial Statements in the Company’s 2022 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, 2022, which have been prepared in accordance with IFRS as issued by the IASB and can be found in the Form 20-F. 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 2 to the Consolidated Financial Statements in the Form 20-F. Use of estimates and assumptions The preparation of Condensed Consolidated Interim Financial Statements requires management to make certain 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. Because of the inherent uncertainties, actual outcomes and results may differ from management's assumptions and estimates. Impairment of goodwill, Alcon brand name and definite lived intangible assets As discussed in Note 2 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. Financial assets The "Financial assets" portion of the accounting policies was expanded in 2023 to include purchased or originated credit-impaired financial assets, as follows: Purchased or originated credit-impaired financial assets are financial assets that are credit-impaired on initial recognition with one or more events that have a detrimental impact on the estimated future cash flows of those financial assets. The interest income of the financial assets is calculated by applying the credit-adjusted effective interest rate to the amortized cost of the financial asset. The calculation does not revert to the gross basis even if the credit risk of the financial asset subsequently improves so that the financial asset is no longer credit-impaired. Interest income is recognized in "Other financial income and expense" in the Consolidated Income Statement. The lifetime expected credit loss ("ECL") of the purchased or originated credit-impaired financial assets is analyzed at inception and utilized in calculating the credit-adjusted effective interest rate, with no Day 1 impact on the carrying value of the financial assets. The value of any collateral related to the financial assets is considered in estimating the lifetime ECL at inception. For purchased or originated credit-impaired financial assets, a credit-adjusted effective interest rate is calculated by discounting the estimated future cash flows, including ECLs, to the amortized cost of the debt instrument on initial recognition. Any change in the lifetime ECL from inception would be reflected as a credit loss in the Consolidated Income statement.

Significant transactions

Significant transactions	6 Months Ended
Significant transactions	Jun. 30, 2023
Significant Transactions [Abstract]
Significant transactions	Significant transactions Significant transactions in 2023 There were no significant transactions during the six months ended June 30, 2023. Significant transactions in 2022 Vision Care - Acquisition of Aerie Pharmaceuticals, Inc. On November 21, 2022, Alcon acquired 100% of the outstanding shares and equity of Aerie Pharmaceuticals, Inc. ("Aerie"), a pharmaceutical company focused on the discovery, development, manufacturing and commercialization of first-in-class ophthalmic therapies. Pursuant to the terms of the Agreement and Plan of Merger, Alcon paid $15.25 per share to acquire all outstanding shares of Aerie's common stock. The total purchase consideration amounted to $744 million and total cash paid for the net identifiable assets recognized, net of cash acquired, was $666 million. Alcon also assumed debt of $316 million. This transaction was accounted for as a business combination that resulted in goodwill of $65 million. The total purchase consideration was funded with proceeds from a bridge loan facility agreement (the "2022 Bridge Loan Facility") on November 21, 2022. The fair values of the acquired assets and assumed liabilities are provisional pending final measurement of the purchase consideration. Series 2032 Notes and Series 2052 Notes issuance On December 6, 2022, Alcon, through its wholly owned subsidiary Alcon Finance Corporation (“AFC”), completed a private offering of non-current financial debt consisting of $700 million of 5.375% senior notes due 2032 and $600 million of 5.750% senior notes due 2052. The funds borrowed through the issuance, together with cash, were used to repay the remaining $640 million Facility B term loan and the $775 million 2022 Bridge Loan Facility. Vision Care - Acquisition of Eysuvis and Inveltys products 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 paid total upfront consideration of $60 million for Eysuvis and Inveltys, paid an additional amount to purchase certain related inventory and assumed certain liabilities of approximately $14 million for a purchase consideration of $79 million. In addition, Alcon agreed to potentially pay additional amounts upon achievement of certain commercial milestones if annual sales exceed defined targets that expire after 2029. The purchase consideration was allocated using the relative fair value approach primarily to currently marketed product intangible assets within the Vision Care reportable segment of $71 million and assumed liabilities of $14 million. 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. The funds borrowed through the issuance 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. 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

Segmentation of key figures

Segmentation of key figures	6 Months Ended
Segmentation of key figures	Jun. 30, 2023
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 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, transformation costs, fair value adjustments to contingent consideration liabilities, past service costs primarily for post-employment benefit plan amendments, integration related costs 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 and other income and expense items not attributed to a specific segment. Net sales and other revenues by segment Three months ended June 30 Six months ended June 30 ($ millions) 2023 2022 2023 2022 Surgical Implantables 437 444 864 899 Consumables 714 644 1,370 1,245 Equipment/other 231 208 452 411 Total Surgical net sales to third parties 1,382 1,296 2,686 2,555 Vision Care Contact lenses 594 547 1,209 1,104 Ocular health 426 357 840 716 Total Vision Care net sales to third parties 1,020 904 2,049 1,820 Total net sales to third parties 2,402 2,200 4,735 4,375 Vision Care other revenues 20 17 39 31 Total net sales and other revenues 2,422 2,217 4,774 4,406 Segment contribution and reconciliation to income before taxes Three months ended June 30 Six months ended June 30 ($ millions) 2023 2022 2023 2022 Segment contribution Surgical 407 348 788 720 Vision Care 174 147 373 317 Total segment contribution 581 495 1,161 1,037 Not allocated to segments: Amortization of intangible assets (187) (162) (377) (324) Impairment charges on intangible assets — (61) — (61) General & administration (corporate) (74) (70) (142) (132) Transformation costs (26) (9) (52) (24) Fair value adjustments to contingent consideration liabilities — 7 — 7 Integration related costs (8) (4) (14) (9) Other (16) 4 (38) (48) Operating income 270 200 538 446 Interest expense (48) (31) (95) (60) Other financial income & expense (9) (22) (17) (39) Income before taxes 213 147 426 347 Net sales by region (1) Three months ended June 30 Six months ended June 30 ($ millions unless indicated otherwise) 2023 2022 2023 2022 United States 1,105 46 % 990 45 % 2,183 46 % 1,929 44 % International 1,297 54 % 1,210 55 % 2,552 54 % 2,446 56 % Net sales to third parties 2,402 100 % 2,200 100 % 4,735 100 % 4,375 100 % (1) Net sales to third parties by location of third-party customer.

Dividends and earnings per shar

Dividends and earnings per share	6 Months Ended
Dividends and earnings per share	Jun. 30, 2023
Earnings per share [abstract]
Dividends and earnings per share	Dividends and earnings per share Dividends On February 27, 2023, the Company's Board of Directors (the "Board") proposed a dividend of CHF 0.21 per share, which was subsequently approved by the shareholders at the Annual General Meeting on May 5, 2023 and paid in May 2023 for an amount of $116 million. On February 15, 2022, the 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. Earnings per share As of June 30, 2023, there were 493.1 million outstanding common shares, after the delivery of 1.3 million net shares vesting under the equity incentive programs during the six months ended June 30, 2023. 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, 2023, the weighted average number of shares outstanding was 493.2 million and 492.8 million, respectively. 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. The only potentially dilutive securities are the outstanding unvested equity-based awards, as described in Note 8. 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.

Non-current and current financi

Non-current and current financial debts	6 Months Ended
Non-current and current financial debts	Jun. 30, 2023
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, 2023 and December 31, 2022. ($ millions) June 30, 2023 December 31, 2022 Non-current financial debts Local facilities (Japan), floating rate debt due 2025 27 — 2.750% Series 2026 Notes 498 497 2.375% Series 2028 Notes 538 527 3.000% Series 2029 Notes 994 994 2.600% Series 2030 Notes 746 746 5.375% Series 2032 Notes 693 692 3.800% Series 2049 Notes 494 494 5.750% Series 2052 Notes 591 591 Revolving facility, floating rate due 2026 — — Total non-current financial debts 4,581 4,541 Current financial debts Local facilities, floating rate: Japan 52 69 All others 40 2 Other short-term financial debts, floating rate 7 26 Derivatives 1 10 Total current financial debts 100 107 Total financial debts 4,681 4,648 Interest expense recognized for Financial debts, excluding lease liabilities, was $40 million and $81 million for the three and six months ended June 30, 2023, respectively, and $25 million and $49 million for the three and six months ended June 30, 2022, respectively. Revolving facility The $1.0 billion Revolving facility remained undrawn as of June 30, 2023. Local bilateral facilities On February 14, 2023, three local bilateral facilities in Japan with commitments totaling $170 million (JPY 22.5 billion) which matured in February 2023 were refinanced by three facilities with two year maturities.

Financial instruments

Financial instruments	6 Months Ended
Financial instruments	Jun. 30, 2023
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 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. 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, 2023 and December 31, 2022. June 30, 2023 ($ millions) Level 1 Level 2 Level 3 Valued at amortized cost or cost (3) Total Non-current financial assets Long-term financial investments measured at FVOCI — — 143 — 143 Long-term financial investments measured at FVPL — — 22 — 22 Long-term note receivable and other financial assets measured at amortized cost — — — 154 154 Long-term receivables from customers — — — 122 122 Deferred compensation assets (1) 153 — — — 153 Non-current minimum lease payments from finance lease agreements — — — 37 37 Long-term loans, VAT receivables, advances and security deposits — — — 35 35 Non-current financial assets 153 — 165 348 666 Current financial assets Money market funds 173 — — — 173 Current portion of long-term financial investments measured at FVPL (2) — — 1 — 1 Current portion of long-term receivables from customers (2) — — — 112 112 Current portion of minimum lease payments from finance lease agreements (2) — — — 26 26 VAT receivables (2) — — — 82 82 Other receivables, security deposits and current assets (2) — — — 87 87 Derivative financial instruments (2) — 14 — — 14 Current financial assets 173 14 1 307 495 Financial assets at fair value and amortized cost or cost 326 14 166 655 1,161 Financial liabilities Contingent consideration liabilities — — (102) — (102) Non-current financial debt — — — (4,581) (4,581) Current financial debt — — — (99) (99) Derivative financial instruments — (1) — — (1) Financial liabilities at fair value and amortized cost — (1) (102) (4,680) (4,783) (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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,208 million and a carrying value of $4,554 million as of June 30, 2023. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes. December 31, 2022 ($ millions) Level 1 Level 2 Level 3 Valued at amortized cost or cost (3) Total Non-current financial assets Long-term financial investments measured at FVOCI — — 88 — 88 Long-term financial investments measured at FVPL — — 20 — 20 Long-term receivables from customers — — — 119 119 Deferred compensation assets (1) 139 — — — 139 Non-current minimum lease payments from finance lease agreements — — — 38 38 Long-term loans, advances and security deposits — — — 22 22 Non-current financial assets 139 — 108 179 426 Current financial assets Money market funds 229 — — — 229 Current portion of long-term receivables from customers (2) — — — 102 102 Current portion of minimum lease payments from finance lease agreements (2) — — — 25 25 VAT receivables (2) — — — 99 99 Other receivables, security deposits and current assets (2) — — — 77 77 Derivative financial instruments (2) — 8 — — 8 Current financial assets 229 8 — 303 540 Financial assets at fair value and amortized cost or cost 368 8 108 482 966 Financial liabilities Contingent consideration liabilities — — (98) — (98) Non-current financial debt — — — (4,541) (4,541) Current financial debt — — — (97) (97) Derivative financial instruments — (10) — — (10) Financial liabilities at fair value and amortized cost — (10) (98) (4,638) (4,746) (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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,145 million and a carrying value of $4,541 million as of December 31, 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. The carrying amount is a reasonable approximation of fair value for all other financial assets and liabilities as of June 30, 2023, 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, 2023. Long-term note receivable and other financial assets measured at amortized cost On May 22, 2023, Alcon entered into financing arrangements with a long-term supplier, Lifecore Biomedical, Inc. and certain of its affiliates (collectively, “Lifecore”). Alcon provided Lifecore total commitments of $150 million, primarily related to a $142 million senior term loan facility ("Long-term note receivable") maturing on May 22, 2029. The arrangements also include a sale and leaseback agreement for certain machinery and equipment. Transaction costs directly attributable to the acquisition of the financial assets amounting to $4 million were capitalized to financial assets at amortized cost. The Long-term note receivable bears an annual fixed interest rate of 10%, which is payable in kind (“PIK”) for the first three years, and payable 3% in cash interest and 7% PIK interest thereafter until maturity, unless otherwise elected by Lifecore to pay a greater proportion in cash. The Long-term note receivable is secured by a Pledge and Security agreement (“security agreement”) whereby Alcon is granted first priority security interest in certain collateral, including but not limited to equipment, fixtures, real property and intellectual property. The security agreement is in effect until the payment in full of the term loan facility. Due to Lifecore's significant financial difficulties at the time the loan was originated, Alcon concluded the financial assets were originated credit-impaired. The lifetime ECL was analyzed at inception and utilized in calculating the credit-adjusted effective interest rate with no impact on the carrying value of the financial assets or effective interest rate of 10%. In addition, as of June 30, 2023, Alcon assessed there was no lifetime ECL due to the assessment of the collateral under the security agreement. Level 3 financial instruments measured at fair value on a recurring basis Financial assets Long-term financial investments measured Financial investments ($ millions) 2023 2022 2023 2022 Balance as of January 1 88 46 20 6 Additions 53 19 8 — Gains recognized in Consolidated Statement of Comprehensive Income 2 1 — — Unrealized (losses) in Consolidated Income Statement — — (4) (1) Amortization — — (1) — Settlement — (1) — — Balance as of June 30 143 65 23 5 Financial liabilities Contingent consideration liabilities ($ millions) 2023 2022 Balance as of January 1 (98) (112) Accretion for passage of time (4) (4) Adjustments for changes in assumptions — 7 Balance as of June 30 (102) (109) As of June 30, 2023, 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 fair value adjustments for changes in assumptions of $7 million, primarily due to revised expectations for achievement and timing of settlement for development milestones. 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 2034 for contingent consideration obligations as of June 30, 2023. Derivatives As of June 30, 2023, the net value of unsettled positions for derivative forward contracts and swaps was $13 million, including $14 million of unrealized gains in Other current assets and $1 million of unrealized losses in Current financial debts. As of December 31, 2022, the net value of unsettled positions for derivative forward contracts and swaps was $2 million, including $8 million of unrealized gains in Other current assets and $10 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, 2023 or December 31, 2022. Nature and extent of risks arising from financial instruments Note 17 to the Consolidated Financial Statements in the Form 20-F contains a summary of the nature and extent of risks arising from financial instruments. Since the date of the Form 20-F, our assessment of the nature and extent of credit risk was expanded to include originated credit-impaired financial assets, as outlined below. There have been no other significant changes in the nature and extent of risks arising from financial instruments or corresponding risk management policies since the date of the Form 20-F. Credit risk Credit risks arise from the possibility that customers may not be able to settle their obligations as agreed. To manage this risk, Alcon periodically assesses credit risk, assigns individual credit limits, and takes actions to mitigate credit risk where appropriate. For further information, refer to Note 13 to the Consolidated Financial Statements in the Form 20-F. No customer accounted for 10% or more of Alcon's net sales in the three or six months ended June 30, 2023 or 2022, respectively.

Condensed consolidated statemen

Condensed consolidated statements of cash flows - additional details	6 Months Ended
	Jun. 30, 2023
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. 7.1 Depreciation, amortization, impairments and fair value adjustments Six months ended June 30 ($ millions) 2023 2022 Property, plant & equipment 182 161 Right-of-use assets 40 38 Intangible assets 377 385 Financial assets 5 1 Other non-current assets (1) 3 Total 603 588 7.2 Change in net current assets and other operating cash flow items Six months ended June 30 ($ millions) 2023 2022 (Increase) in inventories (198) (118) (Increase) in trade receivables (138) (151) Increase in trade payables 36 8 Net change in other operating assets (44) (16) Net change in other operating liabilities (76) (154) Total (420) (431)

Equity-based compensation

Equity-based compensation	6 Months Ended
Equity-based compensation	Jun. 30, 2023
Share-Based Payment Arrangements [Abstract]
Equity-based compensation	Equity-based compensation As described in Note 23 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, 2023 and 2022: Six months ended June 30 (shares in millions) 2023 2022 Unvested at January 1 4.8 5.6 Granted 2.2 1.8 Vested (1.8) (2.1) Forfeited (0.1) (0.1) Unvested at June 30 5.1 5.2

Legal proceedings update

Legal proceedings update	6 Months Ended
Legal proceedings update	Jun. 30, 2023
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Legal proceedings update	Legal proceedings update A number of Alcon companies are, and will likely continue to be, subject to various legal proceedings and investigations that arise from time to time, including proceedings regarding product liability, sales and marketing practices, commercial disputes, employment, wrongful discharge, antitrust, securities, health and safety, environmental, tax, international trade, privacy, intellectual property, including under the Hatch-Waxman Act, and anti-bribery matters such as those under the Foreign Corrupt Practices Act of 1977 ("FCPA"), as amended. As a result, Alcon may become subject to substantial liabilities that may not be covered by insurance and could affect Alcon's business, financial position and reputation. While Alcon does not believe that any of these legal proceedings will have a material adverse effect on its financial position, litigation is inherently unpredictable and large judgments sometimes occur. As a consequence, Alcon may in the future incur judgments or enter into settlements of claims that could have a material adverse effect on its results of operations or cash flow. Note 18 to the Consolidated Financial Statements in the Form 20-F contains a summary of significant legal proceedings to which Alcon or any of its subsidiaries was a party as of the date of the Form 20-F. The following is a summary as of August 15, 2023 of significant developments in those proceedings since the date of the Form 20-F. JJSVI patent dispute On June 23, 2020, Johnson & Johnson Surgical Vision, Inc. ("JJSVI"), acting through its subsidiaries, filed a patent infringement action in the US District Court in Delaware alleging that the manufacture, use, sale, offer for sale, and/or importation of Alcon’s LenSx Laser System willfully infringes, directly and/or indirectly, one or more claims of 12 US patents. JJSVI subsequently amended its complaint to include copyright infringement claims relating to, among other things, source code used in the LenSx Laser System as well as additional claims of patent infringement. Also beginning on June 23, 2020, JJSVI filed claims in Mannheim, Germany, alleging that Alcon directly infringes certain European patents through its manufacture and sale of LenSx . In these cases, JJSVI sought monetary and injunctive relief. Alcon defended all of these cases vigorously and asserted various patent infringement and invalidity claims against JJSVI in Europe and the US. Prior to the trial on the copyright claims in the Delaware action set for February 2023, the parties entered into a confidential settlement agreement to resolve all of the pending legal proceedings described above. As part of that resolution, the parties exchanged cross-licenses of certain intellectual property and other mutually agreed covenants and releases, and Alcon made a one-time payment to JJSVI of $199 million on April 3, 2023, which was accrued as of December 31, 2022 and March 31, 2023, for those rights and to resolve the parties’ various worldwide intellectual property disputes concerning femtosecond laser-assisted cataract surgery devices. No significant new proceedings have commenced since the date of the Form 20-F. Alcon believes that its total provisions for legal matters are adequate based upon currently available information. However, given the inherent difficulties in estimating liabilities, additional liabilities and costs may be incurred beyond the amounts provided.

Subsequent events

Subsequent events	6 Months Ended
Subsequent events	Jun. 30, 2023
Events After Reporting Period [Abstract]
Subsequent events	Subsequent eventsThese unaudited Condensed Consolidated Interim Financial Statements were authorized for issue by the Audit & Risk Committee on August 15, 2023.

Selected accounting policies (P

Selected accounting policies (Policies)	6 Months Ended
Selected accounting policies (Policies)	Jun. 30, 2023
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 Condensed Consolidated Interim Financial Statements requires management to make certain 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. Because of the inherent uncertainties, actual outcomes and results may differ from management's assumptions and estimates.
Impairment of goodwill, Alcon brand name and definite lived intangible assets	As discussed in Note 2 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.
Financial assets	The "Financial assets" portion of the accounting policies was expanded in 2023 to include purchased or originated credit-impaired financial assets, as follows: Purchased or originated credit-impaired financial assets are financial assets that are credit-impaired on initial recognition with one or more events that have a detrimental impact on the estimated future cash flows of those financial assets. The interest income of the financial assets is calculated by applying the credit-adjusted effective interest rate to the amortized cost of the financial asset. The calculation does not revert to the gross basis even if the credit risk of the financial asset subsequently improves so that the financial asset is no longer credit-impaired. Interest income is recognized in "Other financial income and expense" in the Consolidated Income Statement. The lifetime expected credit loss ("ECL") of the purchased or originated credit-impaired financial assets is analyzed at inception and utilized in calculating the credit-adjusted effective interest rate, with no Day 1 impact on the carrying value of the financial assets. The value of any collateral related to the financial assets is considered in estimating the lifetime ECL at inception. For purchased or originated credit-impaired financial assets, a credit-adjusted effective interest rate is calculated by discounting the estimated future cash flows, including ECLs, to the amortized cost of the debt instrument on initial recognition. Any change in the lifetime ECL from inception would be reflected as a credit loss in the Consolidated Income statement.

Segmentation of key figures (Ta

Segmentation of key figures (Tables)	6 Months Ended
Segmentation of key figures (Tables)	Jun. 30, 2023
Operating Segments [Abstract]
Disclosure of operating segments	Net sales and other revenues by segment Three months ended June 30 Six months ended June 30 ($ millions) 2023 2022 2023 2022 Surgical Implantables 437 444 864 899 Consumables 714 644 1,370 1,245 Equipment/other 231 208 452 411 Total Surgical net sales to third parties 1,382 1,296 2,686 2,555 Vision Care Contact lenses 594 547 1,209 1,104 Ocular health 426 357 840 716 Total Vision Care net sales to third parties 1,020 904 2,049 1,820 Total net sales to third parties 2,402 2,200 4,735 4,375 Vision Care other revenues 20 17 39 31 Total net sales and other revenues 2,422 2,217 4,774 4,406 Segment contribution and reconciliation to income before taxes Three months ended June 30 Six months ended June 30 ($ millions) 2023 2022 2023 2022 Segment contribution Surgical 407 348 788 720 Vision Care 174 147 373 317 Total segment contribution 581 495 1,161 1,037 Not allocated to segments: Amortization of intangible assets (187) (162) (377) (324) Impairment charges on intangible assets — (61) — (61) General & administration (corporate) (74) (70) (142) (132) Transformation costs (26) (9) (52) (24) Fair value adjustments to contingent consideration liabilities — 7 — 7 Integration related costs (8) (4) (14) (9) Other (16) 4 (38) (48) Operating income 270 200 538 446 Interest expense (48) (31) (95) (60) Other financial income & expense (9) (22) (17) (39) Income before taxes 213 147 426 347
Disclosure of geographical areas	Net sales by region (1) Three months ended June 30 Six months ended June 30 ($ millions unless indicated otherwise) 2023 2022 2023 2022 United States 1,105 46 % 990 45 % 2,183 46 % 1,929 44 % International 1,297 54 % 1,210 55 % 2,552 54 % 2,446 56 % Net sales to third parties 2,402 100 % 2,200 100 % 4,735 100 % 4,375 100 % (1) Net sales to third parties by location of third-party customer.

Non-current and current finan_2

Non-current and current financial debts (Tables)	6 Months Ended
Non-current and current financial debts (Tables)	Jun. 30, 2023
Disclosure Of Borrowings [Abstract]
Schedule of financial debts	The below table summarizes non-current and current Financial debts outstanding as of June 30, 2023 and December 31, 2022. ($ millions) June 30, 2023 December 31, 2022 Non-current financial debts Local facilities (Japan), floating rate debt due 2025 27 — 2.750% Series 2026 Notes 498 497 2.375% Series 2028 Notes 538 527 3.000% Series 2029 Notes 994 994 2.600% Series 2030 Notes 746 746 5.375% Series 2032 Notes 693 692 3.800% Series 2049 Notes 494 494 5.750% Series 2052 Notes 591 591 Revolving facility, floating rate due 2026 — — Total non-current financial debts 4,581 4,541 Current financial debts Local facilities, floating rate: Japan 52 69 All others 40 2 Other short-term financial debts, floating rate 7 26 Derivatives 1 10 Total current financial debts 100 107 Total financial debts 4,681 4,648

Financial instruments (Tables)

Financial instruments (Tables)	6 Months Ended
Financial instruments (Tables)	Jun. 30, 2023
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, 2023 and December 31, 2022. June 30, 2023 ($ millions) Level 1 Level 2 Level 3 Valued at amortized cost or cost (3) Total Non-current financial assets Long-term financial investments measured at FVOCI — — 143 — 143 Long-term financial investments measured at FVPL — — 22 — 22 Long-term note receivable and other financial assets measured at amortized cost — — — 154 154 Long-term receivables from customers — — — 122 122 Deferred compensation assets (1) 153 — — — 153 Non-current minimum lease payments from finance lease agreements — — — 37 37 Long-term loans, VAT receivables, advances and security deposits — — — 35 35 Non-current financial assets 153 — 165 348 666 Current financial assets Money market funds 173 — — — 173 Current portion of long-term financial investments measured at FVPL (2) — — 1 — 1 Current portion of long-term receivables from customers (2) — — — 112 112 Current portion of minimum lease payments from finance lease agreements (2) — — — 26 26 VAT receivables (2) — — — 82 82 Other receivables, security deposits and current assets (2) — — — 87 87 Derivative financial instruments (2) — 14 — — 14 Current financial assets 173 14 1 307 495 Financial assets at fair value and amortized cost or cost 326 14 166 655 1,161 Financial liabilities Contingent consideration liabilities — — (102) — (102) Non-current financial debt — — — (4,581) (4,581) Current financial debt — — — (99) (99) Derivative financial instruments — (1) — — (1) Financial liabilities at fair value and amortized cost — (1) (102) (4,680) (4,783) (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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,208 million and a carrying value of $4,554 million as of June 30, 2023. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes. December 31, 2022 ($ millions) Level 1 Level 2 Level 3 Valued at amortized cost or cost (3) Total Non-current financial assets Long-term financial investments measured at FVOCI — — 88 — 88 Long-term financial investments measured at FVPL — — 20 — 20 Long-term receivables from customers — — — 119 119 Deferred compensation assets (1) 139 — — — 139 Non-current minimum lease payments from finance lease agreements — — — 38 38 Long-term loans, advances and security deposits — — — 22 22 Non-current financial assets 139 — 108 179 426 Current financial assets Money market funds 229 — — — 229 Current portion of long-term receivables from customers (2) — — — 102 102 Current portion of minimum lease payments from finance lease agreements (2) — — — 25 25 VAT receivables (2) — — — 99 99 Other receivables, security deposits and current assets (2) — — — 77 77 Derivative financial instruments (2) — 8 — — 8 Current financial assets 229 8 — 303 540 Financial assets at fair value and amortized cost or cost 368 8 108 482 966 Financial liabilities Contingent consideration liabilities — — (98) — (98) Non-current financial debt — — — (4,541) (4,541) Current financial debt — — — (97) (97) Derivative financial instruments — (10) — — (10) Financial liabilities at fair value and amortized cost — (10) (98) (4,638) (4,746) (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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,145 million and a carrying value of $4,541 million as of December 31, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes. Financial assets Long-term financial investments measured Financial investments ($ millions) 2023 2022 2023 2022 Balance as of January 1 88 46 20 6 Additions 53 19 8 — Gains recognized in Consolidated Statement of Comprehensive Income 2 1 — — Unrealized (losses) in Consolidated Income Statement — — (4) (1) Amortization — — (1) — Settlement — (1) — — Balance as of June 30 143 65 23 5
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, 2023 and December 31, 2022. June 30, 2023 ($ millions) Level 1 Level 2 Level 3 Valued at amortized cost or cost (3) Total Non-current financial assets Long-term financial investments measured at FVOCI — — 143 — 143 Long-term financial investments measured at FVPL — — 22 — 22 Long-term note receivable and other financial assets measured at amortized cost — — — 154 154 Long-term receivables from customers — — — 122 122 Deferred compensation assets (1) 153 — — — 153 Non-current minimum lease payments from finance lease agreements — — — 37 37 Long-term loans, VAT receivables, advances and security deposits — — — 35 35 Non-current financial assets 153 — 165 348 666 Current financial assets Money market funds 173 — — — 173 Current portion of long-term financial investments measured at FVPL (2) — — 1 — 1 Current portion of long-term receivables from customers (2) — — — 112 112 Current portion of minimum lease payments from finance lease agreements (2) — — — 26 26 VAT receivables (2) — — — 82 82 Other receivables, security deposits and current assets (2) — — — 87 87 Derivative financial instruments (2) — 14 — — 14 Current financial assets 173 14 1 307 495 Financial assets at fair value and amortized cost or cost 326 14 166 655 1,161 Financial liabilities Contingent consideration liabilities — — (102) — (102) Non-current financial debt — — — (4,581) (4,581) Current financial debt — — — (99) (99) Derivative financial instruments — (1) — — (1) Financial liabilities at fair value and amortized cost — (1) (102) (4,680) (4,783) (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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,208 million and a carrying value of $4,554 million as of June 30, 2023. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes. December 31, 2022 ($ millions) Level 1 Level 2 Level 3 Valued at amortized cost or cost (3) Total Non-current financial assets Long-term financial investments measured at FVOCI — — 88 — 88 Long-term financial investments measured at FVPL — — 20 — 20 Long-term receivables from customers — — — 119 119 Deferred compensation assets (1) 139 — — — 139 Non-current minimum lease payments from finance lease agreements — — — 38 38 Long-term loans, advances and security deposits — — — 22 22 Non-current financial assets 139 — 108 179 426 Current financial assets Money market funds 229 — — — 229 Current portion of long-term receivables from customers (2) — — — 102 102 Current portion of minimum lease payments from finance lease agreements (2) — — — 25 25 VAT receivables (2) — — — 99 99 Other receivables, security deposits and current assets (2) — — — 77 77 Derivative financial instruments (2) — 8 — — 8 Current financial assets 229 8 — 303 540 Financial assets at fair value and amortized cost or cost 368 8 108 482 966 Financial liabilities Contingent consideration liabilities — — (98) — (98) Non-current financial debt — — — (4,541) (4,541) Current financial debt — — — (97) (97) Derivative financial instruments — (10) — — (10) Financial liabilities at fair value and amortized cost — (10) (98) (4,638) (4,746) (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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,145 million and a carrying value of $4,541 million as of December 31, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes. Financial liabilities Contingent consideration liabilities ($ millions) 2023 2022 Balance as of January 1 (98) (112) Accretion for passage of time (4) (4) Adjustments for changes in assumptions — 7 Balance as of June 30 (102) (109)

Condensed consolidated statem_2

Condensed consolidated statements of cash flows - additional details (Tables)	6 Months Ended
	Jun. 30, 2023
Cash Flow Statement [Abstract]
Depreciation, amortization, impairments and fair value adjustments	Six months ended June 30 ($ millions) 2023 2022 Property, plant & equipment 182 161 Right-of-use assets 40 38 Intangible assets 377 385 Financial assets 5 1 Other non-current assets (1) 3 Total 603 588
Change in net current assets and other operating cash flow items	Six months ended June 30 ($ millions) 2023 2022 (Increase) in inventories (198) (118) (Increase) in trade receivables (138) (151) Increase in trade payables 36 8 Net change in other operating assets (44) (16) Net change in other operating liabilities (76) (154) Total (420) (431)

Equity-based compensation (Tabl

Equity-based compensation (Tables)	6 Months Ended
Equity-based compensation (Tables)	Jun. 30, 2023
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, 2023 and 2022: Six months ended June 30 (shares in millions) 2023 2022 Unvested at January 1 4.8 5.6 Granted 2.2 1.8 Vested (1.8) (2.1) Forfeited (0.1) (0.1) Unvested at June 30 5.1 5.2

Significant transactions (Detai

Significant transactions (Details) $ / shares in Units, € in Millions, $ in Millions							6 Months Ended
	Dec. 06, 2022 USD ($)	Nov. 21, 2022 USD ($) $ / shares	Jul. 08, 2022 USD ($)	May 31, 2022 USD ($)	May 31, 2022 EUR (€)	Jan. 07, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	May 31, 2022 EUR (€)
Disclosure of detailed information about business combination [line items]
Cash paid for the acquisition							$ 0	$ 483
Goodwill							8,970		$ 8,970
Financial debts							4,681		$ 4,648
Repayments of non-current borrowings							$ 0	$ 536
Aerie
Disclosure of detailed information about business combination [line items]
Percentage of outstanding shares acquired		100%
Price paid (in dollars per share) \| $ / shares		$ 15.25
Consideration transferred		$ 744
Cash paid for the acquisition		666
Borrowings recognised as of acquisition date		316
Goodwill		$ 65
Eysuvis and Inveltys
Disclosure of detailed information about business combination [line items]
Upfront payment			$ 60
Inventory, net of liabilities			14
Purchase consideration			79
Intangible assets			$ 71
Ivantis, Inc.
Disclosure of detailed information about business combination [line items]
Percentage of outstanding shares acquired						100%
Upfront payment						$ 479
Series 2032 Notes
Disclosure of detailed information about business combination [line items]
Financial debts	$ 700
Borrowings, interest rate	5.375%						5.375%
Series 2052 Notes
Disclosure of detailed information about business combination [line items]
Financial debts	$ 600
Borrowings, interest rate	5.75%						5.75%
Facility B Term Loan
Disclosure of detailed information about business combination [line items]
Repayments of non-current borrowings	$ 640				€ 160
Bridge Loan Facility
Disclosure of detailed information about business combination [line items]
Repayments of non-current borrowings	$ 775
Series 2028 Notes
Disclosure of detailed information about business combination [line items]
Financial debts				$ 537						€ 500
Borrowings, interest rate				2.375%			2.375%			2.375%
Facility C Term Loan
Disclosure of detailed information about business combination [line items]
Repayments of non-current borrowings				$ 376	€ 350

Segmentation of key figures - N

Segmentation of key figures - Narrative (Details)	Jun. 30, 2023 segment
Operating Segments [Abstract]
Number of reportable segments	2

Segmentation of key figures -_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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure of operating segments [line items]
Net sales to third parties	$ 2,402	$ 2,200	$ 4,735	$ 4,375
Other revenues	20	17	39	31
Net sales and other revenues	2,422	2,217	4,774	4,406
Total segment contribution	581	495	1,161	1,037
Amortization of intangible assets	(187)	(162)	(377)	(324)
Impairment charges on intangible assets	0	(61)	0	(61)
General & administration (corporate)	(74)	(70)	(142)	(132)
Transformation costs	(26)	(9)	(52)	(24)
Fair value adjustments to contingent consideration liabilities	0	7	0	7
Integration related costs	(8)	(4)	(14)	(9)
Other	(16)	4	(38)	(48)
Operating income	270	200	538	446
Interest expense	(48)	(31)	(95)	(60)
Other financial income & expense	(9)	(22)	(17)	(39)
Income before taxes	213	147	426	347
Surgical
Disclosure of operating segments [line items]
Net sales to third parties	1,382	1,296	2,686	2,555
Total segment contribution	407	348	788	720
Surgical \| Implantables
Disclosure of operating segments [line items]
Net sales to third parties	437	444	864	899
Surgical \| Consumables
Disclosure of operating segments [line items]
Net sales to third parties	714	644	1,370	1,245
Surgical \| Equipment/other
Disclosure of operating segments [line items]
Net sales to third parties	231	208	452	411
Vision Care
Disclosure of operating segments [line items]
Net sales to third parties	1,020	904	2,049	1,820
Total segment contribution	174	147	373	317
Vision Care \| Contact lenses
Disclosure of operating segments [line items]
Net sales to third parties	594	547	1,209	1,104
Vision Care \| Ocular health
Disclosure of operating segments [line items]
Net sales to third parties	$ 426	$ 357	$ 840	$ 716

Segmentation of key figures -_3

Segmentation of key figures - Net sales by region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure of geographical areas [line items]
Net sales to third parties	$ 2,402	$ 2,200	$ 4,735	$ 4,375
Percentage of entity's revenue	100%	100%	100%	100%
United States
Disclosure of geographical areas [line items]
Net sales to third parties	$ 1,105	$ 990	$ 2,183	$ 1,929
Percentage of entity's revenue	46%	45%	46%	44%
International
Disclosure of geographical areas [line items]
Net sales to third parties	$ 1,297	$ 1,210	$ 2,552	$ 2,446
Percentage of entity's revenue	54%	55%	54%	56%

Dividends and earnings per sh_2

Dividends and earnings per share (Details) shares in Millions, $ in Millions			1 Months Ended		3 Months Ended		6 Months Ended
	Feb. 27, 2023 SFr / shares	Feb. 15, 2022 SFr / shares	May 31, 2023 USD ($)	May 31, 2022 USD ($)	Jun. 30, 2023 shares	Jun. 30, 2022 shares	Jun. 30, 2023 shares	Jun. 30, 2022 shares
Earnings per share [abstract]
Dividend declared (in dollars per share) \| SFr / shares	SFr 0.21	SFr 0.20
Dividends paid \| $			$ 116	$ 100
Number of shares outstanding					493.1		493.1
Number of shares vested							1.3
Weighted average number of shares outstanding - basic (in shares)					493.2	491.7	492.8	491.3
Weighted average number of shares outstanding - diluted (in shares)					495.7	494.3	495.9	494.2
Potentially dilutive shares					2.5	2.6	3.1	2.9

Non-current and current finan_3

Non-current and current financial debts - Schedule of financial debts (Details) € in Millions, $ in Millions	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 06, 2022 USD ($)	May 31, 2022 USD ($)	May 31, 2022 EUR (€)
Disclosure of detailed information about borrowings [line items]
Total non-current financial debts	$ 4,581	$ 4,541
Total current financial debts	100	107
Total financial debts	4,681	4,648
Local facilities (Japan), floating rate debt due 2025
Disclosure of detailed information about borrowings [line items]
Total non-current financial debts	27	0
Total current financial debts	$ 52	69
Series 2026 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	2.75%
Total non-current financial debts	$ 498	497
Series 2028 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	2.375%			2.375%	2.375%
Total non-current financial debts	$ 538	527
Total financial debts				$ 537	€ 500
Series 2029 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	3%
Total non-current financial debts	$ 994	994
Series 2030 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	2.60%
Total non-current financial debts	$ 746	746
Series 2032 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	5.375%		5.375%
Total non-current financial debts	$ 693	692
Total financial debts			$ 700
Series 2049 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	3.80%
Total non-current financial debts	$ 494	494
Series 2052 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	5.75%		5.75%
Total non-current financial debts	$ 591	591
Total financial debts			$ 600
Revolving facility, floating rate due 2026
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	40	2
Other short-term financial debts, floating rate
Disclosure of detailed information about borrowings [line items]
Total current financial debts	7	26
Derivatives
Disclosure of detailed information about borrowings [line items]
Total current financial debts	$ 1	$ 10

Non-current and current finan_4

Non-current and current financial debts - Additional information (Details) $ in Millions, ¥ in Billions		3 Months Ended		6 Months Ended
	Feb. 14, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Feb. 14, 2023 JPY (¥)
Disclosure of detailed information about borrowings [line items]
Interest expense		$ 40	$ 25	$ 81	$ 49
Revolving facility, floating rate due 2026
Disclosure of detailed information about borrowings [line items]
Undrawn borrowing facilities		$ 1,000		$ 1,000
Local facilities (Japan), floating rate debt due 2025
Disclosure of detailed information about borrowings [line items]
Commitments	$ 170					¥ 22.5
Maturity	2 years

Financial instruments - Schedul

Financial instruments - Schedule of fair value of assets and liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	$ 513	$ 287
Senior Notes Due 2026, 2028, 2029, 2030, 2032, 2049 and 2052
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities, at fair value	4,208	4,145
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	(102)
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)
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	(4,680)	(4,638)
Measured at amortized cost or cost \| Senior Notes Due 2026, 2028, 2029, 2030, 2032, 2049 and 2052
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities, at fair value and amortized cost	(4,554)	(4,541)
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	(4,581)	(4,541)
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	(99)	(97)
Measured at amortized cost or cost and fair value
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities, at fair value and amortized cost	(4,783)
Money market funds
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	173	229
Measured at FVOCI \| Long-term financial investments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	143	88
Measured at amortized cost or cost and fair value
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	666	426
Current financial assets	495	540
Financial assets at fair value and amortized cost or cost	1,161	966
Financial liabilities, at fair value and amortized cost		(4,746)
Measured at FVPL \| Long-term financial investments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	22	20
Measured at FVPL \| Deferred compensation assets
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	153	139
Measured at FVPL \| Derivative financial instruments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	14	8
Measured at FVPL \| Current portion of long-term financial investments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	1
Measured at amortized cost or cost
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	348	179
Current financial assets	307	303
Financial assets at fair value and amortized cost or cost	655	482
Measured at amortized cost or cost \| Long-term note receivable and other financial assets
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	154
Current financial assets	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	122	119
Current financial assets	112	102
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	37	38
Current financial assets	26	25
Measured at amortized cost or cost \| Long-term loans, VAT receivables, advances and security deposits
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	35	22
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	87	77
Measured at amortized cost or cost \| VAT receivables
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	82	99
Level 3 \| Contingent consideration liabilities
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities, at fair value and amortized cost	(102)	(98)	$ (109)	$ (112)
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	143	88	65	46
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	23	20	$ 5	$ 6
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		(98)
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		(10)
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		(4,541)
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		(97)
Recurring fair value measurement \| Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	153	139
Current financial assets	173	229
Financial assets at fair value and amortized cost or cost	326	368
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	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 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	173	229
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	153	139
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 FVPL \| Current portion of long-term financial investments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	0
Recurring fair value measurement \| Level 1 \| Measured at amortized cost or cost \| Long-term note receivable and other financial assets
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	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, VAT receivables, 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	14	8
Financial assets at fair value and amortized cost or cost	14	8
Financial liabilities, at fair value and amortized cost	(1)	(10)
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	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)	(10)
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 \| Derivative financial instruments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	14	8
Recurring fair value measurement \| Level 2 \| Measured at FVPL \| Current portion of long-term financial investments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	0
Recurring fair value measurement \| Level 2 \| Measured at amortized cost or cost \| Long-term note receivable and other financial assets
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	0
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, VAT receivables, 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	165	108
Current financial assets	1	0
Financial assets at fair value and amortized cost or cost	166	108
Financial liabilities, at fair value and amortized cost	(102)	(98)
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	(102)	(98)
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 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	143	88
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	22	20
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 \| 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 FVPL \| Current portion of long-term financial investments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	1
Recurring fair value measurement \| Level 3 \| Measured at amortized cost or cost \| Long-term note receivable and other financial assets
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	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, VAT receivables, 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

Financial instruments - Activit

Financial instruments - Activity in level 3 financial assets (Details) - Level 3 - Financial investments - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Measured at FVOCI
Changes in fair value measurement, assets [abstract]
Balance as of January 1	$ 88	$ 46
Additions	53	19
Gains recognized in Consolidated Statement of Comprehensive Income	2	1
Unrealized (losses) in Consolidated Income Statement	0	0
Amortization	0	0
Settlement	0	(1)
Balance as of June 30	143	65
Measured at FVPL
Changes in fair value measurement, assets [abstract]
Balance as of January 1	20	6
Additions	8	0
Gains recognized in Consolidated Statement of Comprehensive Income	0	0
Unrealized (losses) in Consolidated Income Statement	(4)	(1)
Amortization	(1)	0
Settlement	0	0
Balance as of June 30	$ 23	$ 5

Financial instruments - Activ_2

Financial instruments - Activity in level 3 financial liabilities (Details) - Level 3 - Contingent consideration liabilities - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Changes in fair value measurement, liabilities [abstract]
Balance as of January 1	$ (98)	$ (112)
Accretion for passage of time	(4)	(4)
Adjustments for changes in assumptions	0	7
Balance as of June 30	$ (102)	$ (109)

Financial instruments - Additio

Financial instruments - Additional information (Details) - USD ($) $ in Millions		6 Months Ended
	May 22, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Long term note receivable and capitalized transaction costs	$ 150
Long term note receivable	142
Capitalized transaction costs	$ 4
Long term note receivable, interest rate	10%
Long term note receivable, interest payable in kind, period	3 years
Long term note receivable, effective interest rate		10%
Contingent amount		$ 395
Unsettled derivative positions - assets (liabilities), net		13		$ (2)
Gains on change in fair value of derivatives		14		8
Losses on change in fair value of derivatives		1		10
Maximum exposure to credit risk of loans or receivables		155
Non-current financial assets		513		287
Collateral		375
Cash Interest Rate
Disclosure of detailed information about borrowings [line items]
Long term note receivable, interest rate	3%
Paid In Kind Interest Rate
Disclosure of detailed information about borrowings [line items]
Long term note receivable, interest rate	7%
Measured at amortized cost or cost
Disclosure of detailed information about borrowings [line items]
Non-current financial assets		348		179
Current financial assets		307		$ 303
Measured at amortized cost or cost \| Long-term note receivable and other financial assets
Disclosure of detailed information about borrowings [line items]
Non-current financial assets		154
Current financial assets		$ 1
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		$ 0	$ 7

Condensed consolidated statem_3

Condensed consolidated statements of cash flows - additional details - Depreciation, amortization, impairments and fair value adjustments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Total	$ 603	$ 588
Property, plant & equipment
Disclosure of detailed information about property, plant and equipment [line items]
Total	182	161
Right-of-use assets
Disclosure of detailed information about property, plant and equipment [line items]
Total	40	38
Intangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Total	377	385
Financial assets
Disclosure of detailed information about property, plant and equipment [line items]
Total	5	1
Other non-current assets
Disclosure of detailed information about property, plant and equipment [line items]
Total	$ (1)	$ 3

Condensed consolidated statem_4

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, 2023	Jun. 30, 2022
Cash Flow Statement [Abstract]
(Increase) in inventories	$ (198)	$ (118)
(Increase) in trade receivables	(138)	(151)
Increase in trade payables	36	8
Net change in other operating assets	(44)	(16)
Net change in other operating liabilities	(76)	(154)
Total	$ (420)	$ (431)

Equity-based compensation (Deta

Equity-based compensation (Details) - shares shares in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangements [Abstract]
Unvested (in shares)	4.8	5.6
Granted (in shares)	2.2	1.8
Vested (in shares)	(1.8)	(2.1)
Forfeited (in shares)	(0.1)	(0.1)
Unvested (in shares)	5.1	5.2

Legal proceedings update (Detai

Legal proceedings update (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Johnson and Johnson Surgical Vision, Inc. Patent And Copyright Infringement Action
Disclosure of other provisions [line items]
Accrued legal provision	$ 199	$ 199