Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 6-K

_________________

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

August 20, 2024

Commission File Number: 001-31269

_________________

ALCON INC.

(Registrant Name)

Rue Louis-d'Affry 6
1701 Fribourg, Switzerland

(Address of principal executive office)

_________________

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20‑F or Form 40-F: Form 20-F ☒ Form 40-F ☐

EXHIBIT INDEX


Exhibit Number						Description

99.1						Press release issued by Alcon Inc. dated August 20, 2024
99.2						Alcon Inc. Interim Financial Report
101						Inline XBRL Document Set for the condensed consolidated financial statements and accompanying notes included in this Form 6-K
104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ALCON INC.

Date:

August 20, 2024

By:

/s/ David J. Endicott

Name: David J. Endicott

Title: Authorized Representative

Date:

August 20, 2024

By:

/s/ Timothy C. Stonesifer

Name: Timothy C. Stonesifer

Title: Authorized Representative

Alcon Reports Second-Quarter 2024 Results with Strong Growth in Implantables and Contact Lenses

•Record Q2 2024 sales of $2.5 billion, up 3%, or 6% constant currency1 (cc)

•Q2 2024 diluted EPS of $0.45, up 32%, or 47% cc; core diluted EPS2 of $0.74,
up 7%, or 15% cc

•H1 2024 cash from operations of $871 million; free cash flow3 of $667 million,
up $478 million, or 253%

•Received U.S. FDA clearance of Unity VCS/CS and PDUFA date for AR-15512
of May 30th, 2025

Ad Hoc Announcement Pursuant to Art. 53 LR

Geneva, August 20, 2024 - Alcon (SIX/NYSE:ALC), the global leader in eye care, reported its financial results for the three and six month periods ending June 30, 2024. For the second quarter of 2024, sales were $2.5 billion, an increase of 3% on a reported basis and 6% on a constant currency basis1, as compared to the same quarter of the previous year. Alcon reported diluted earnings per share of $0.45 and core diluted earnings per share2 of $0.74 in the second quarter of 2024.

"We are pleased with our solid second-quarter results, which were driven by robust demand for our innovative products, our balanced geographic footprint and strong execution by our team. These factors contributed to another quarter of sales and earnings growth and robust cash generation," said David J. Endicott, Alcon's Chief Executive Officer. "As we look to the second half of the year, our focus will be on preparing for product launches that will position us well for our next phase of growth in 2025 and beyond."

Second-quarter and first-half 2024 key figures


	Three months ended June 30		Six months ended June 30
	2024	2023	2024	2023
Net sales ($ millions)	2,482	2,402	4,926	4,735
Operating margin (%)	12.8%	11.2%	13.9%	11.4%
Diluted earnings per share ($)	0.45	0.34	0.95	0.69
Core results (non-IFRS measure)2
Core operating margin (%)	19.8%	19.9%	20.9%	20.3%
Core diluted earnings per share ($)	0.74	0.69	1.52	1.39
Cash flows ($ millions)
Net cash flows from operating activities			871	410
Free cash flow (non-IFRS measure)3			667	189

1.Constant currency is a non-IFRS measure. Refer to the 'Footnotes' section for additional information.

2.Core results, such as core operating income, core operating margin and core diluted EPS, are non-IFRS measures. Refer to the 'Footnotes' section for additional information.

3.Free cash flow is a non-IFRS measure. Refer to the 'Footnotes' section for additional information.

Second-quarter and first-half 2024 results

Sales for the second quarter of 2024 were $2.5 billion, an increase of 3% on a reported basis and 6% on a constant currency basis, compared to the second quarter of 2023. Sales for the first half of 2024 were $4.9 billion, an increase of 4% on a reported basis and 7% on a constant currency basis, compared to the first half of 2023.

The following table highlights net sales by segment for the second quarter and first half of 2024:


	Three months ended June 30		Change %		Six months ended June 30		Change %
($ millions unless indicated otherwise)	2024	2023	$	cc1 (non-IFRS measure)	2024	2023	$	cc1 (non-IFRS measure)

Surgical
Implantables	464	437	6	9	897	864	4	8
Consumables	736	714	3	5	1,422	1,370	4	6
Equipment/other	223	231	(3)	(1)	442	452	(2)	—
Total Surgical	1,423	1,382	3	6	2,761	2,686	3	6
Vision Care
Contact lenses	636	594	7	9	1,307	1,209	8	10
Ocular health	423	426	(1)	2	858	840	2	5
Total Vision Care	1,059	1,020	4	6	2,165	2,049	6	8
Net sales to third parties	2,482	2,402	3	6	4,926	4,735	4	7

Surgical growth reflects strength in international markets

For the second quarter of 2024, Surgical net sales, which include implantables, consumables and equipment/other, were $1.4 billion, an increase of 3% on a reported basis and 6% on a constant currency basis versus the second quarter of 2023.

•Implantables net sales were $464 million, an increase of 6%. Excluding unfavorable currency impacts of 3%, implantables net sales increased 9% in constant currency. Growth was led by advanced technology intraocular lenses in international markets.

•Consumables net sales were $736 million, an increase of 3%, driven by cataract and vitreoretinal consumables, particularly in international markets, and price increases. Excluding unfavorable currency impacts of 2%, consumables net sales increased 5% constant currency.

•Equipment/other net sales were $223 million, a decrease of 3%. Excluding unfavorable currency impacts of 2%, equipment/other net sales decreased 1% constant currency as the prior year period benefited from strong demand for cataract equipment in international markets.

For the first half of 2024, Surgical net sales were $2.8 billion, an increase of 3% on a reported basis and 6% on a constant currency basis versus the first half of 2023.

Vision Care growth reflects strength in contact lenses

For the second quarter of 2024, Vision Care net sales, which include contact lenses and ocular health, were $1.1 billion, an increase of 4% on a reported basis and 6% on a constant currency basis, versus the second quarter of 2023.

•Contact lenses net sales were $636 million, an increase of 7%, driven by product innovation, including our toric and multifocal modalities, and price increases. Growth was partially offset by unfavorable currency impacts of 2%. Contact lenses net sales increased 9% constant currency.

•Ocular health net sales were $423 million, a decrease of 1%. Excluding unfavorable currency impacts of 3%, ocular health net sales increased 2% in constant currency. This constant currency growth was primarily driven by the portfolio of eye drops, including continued strength from the Systane family of artificial tears. Growth was partially offset by a decline of 4% due to contact lens care, primarily driven by the prior year period benefit from the recovery from supply chain challenges.

For the first half of 2024, Vision Care net sales were $2.2 billion, an increase of 6% on a reported basis and 8% on a constant currency basis versus the first half of 2023.

Operating income

Second-quarter 2024 operating income was $318 million, compared to $270 million in the prior year period. Operating margin increased 1.6 percentage points, reflecting improved underlying operating leverage from higher sales. The prior year period included $26 million for the transformation program which was completed in the fourth quarter of 2023. The second quarter of 2024 included significantly higher inventory provisions in Vision Care due to a supplier-related quality issue which resulted in a negative impact of $30 million or 1.2 percentage points to operating margin. Operating margin was also impacted by higher costs of inventory in Surgical and a negative 1.0 percentage point impact from currency. Operating margin increased 2.6 percentage points on a constant currency basis.

Adjustments to arrive at core operating income2 in the current year period were $173 million, mainly due to $165 million of amortization. Excluding these and other adjustments, second-quarter 2024 core operating income was $491 million.

Second-quarter 2024 core operating margin was 19.8%. Core operating margin decreased 0.1 percentage point, including a negative 0.8 percentage point impact from currency. Core operating margin increased 0.7 percentage points on a constant currency basis, reflecting improved underlying operating leverage from higher sales. The second quarter of 2024 included significantly higher inventory provisions in Vision Care due to a supplier-related quality issue which resulted in a negative impact of $30 million or 1.2 percentage points to core operating margin. There were also higher costs of inventory in Surgical.

First-half 2024 operating income was $686 million and operating margin was 13.9%, which increased 2.5 percentage points on a reported basis and 3.7 percentage points on a constant currency basis. Adjustments to arrive at core operating income in the current year period were $342 million, mainly due to $331 million of amortization. Excluding these and other adjustments, core operating income was $1.0 billion.

First-half 2024 core operating margin was 20.9%, an increase of 0.6 percentage points on a reported basis and 1.6 percentage points on a constant currency basis.

Diluted earnings per share (EPS)

Second-quarter 2024 diluted earnings per share of $0.45 increased 32%, or 47% on a constant currency basis. Core diluted earnings per share of $0.74 increased 7%, or 15% on a constant currency basis.

First-half 2024 diluted earnings per share of $0.95 increased 38%, or 55% on a constant currency basis. Core diluted earnings per share for the first six months of $1.52 increased 9%, or 18% on a constant currency basis.

Cash flow highlights

The Company ended the first six months of 2024 with a cash position of $1.4 billion. Net cash flows from operating activities amounted to $871 million in the first six months of 2024, compared to $410 million in the prior year period. The current year period includes increased collections associated with higher sales, lower taxes paid due to timing of payments and lower transformation payments following completion of the transformation program in the fourth quarter of 2023, partially offset by associate short-term incentive payments, which generally occur in the first quarter and were higher than in the prior year period, and increased payments for operating expenses. The prior period included a cash outflow for a legal settlement. Both periods were impacted by changes in net working capital.

Free cash flow was an inflow of $667 million in the first six months of 2024, compared to $189 million in the prior year period, primarily due to increased cash flows from operating activities.

2024 outlook

The Company updated its 2024 outlook as per the table below.

2024 outlook4

as of February

as of May

as of August

Comments

Net sales (USD)

$9.9 to $10.1
billion

Maintain

Change vs. prior year (cc)1

(non-IFRS measure)

+6% to +8%

+7% to +9%

Maintain

Core operating margin2

(non-IFRS measure)

20.5% to 21.5%

Maintain

Interest expense and
Other financial income & expense

$190 to $210 million

$180 to $200 million

$160 to $180 million

Decrease

Core effective tax rate5

(non-IFRS measure)

~20%

Maintain

Core diluted EPS2

(non-IFRS measure)

$3.00 to $3.10

Maintain

Change vs. prior year (cc)1

(non-IFRS measure)

+13% to +16%

+15% to +18%

Maintain

This outlook assumes the following:

•Aggregated markets grow in line with historical averages (mid-single digits);

•Exchange rates as of the end of July 2024 prevail through year-end;

•Approximately 498 million weighted-averaged diluted shares.

4.The forward-looking guidance included in this press release cannot be reconciled to the comparable IFRS measures without unreasonable effort, because we are not able to predict with reasonable certainty the ultimate amount or nature of exceptional items in the fiscal year. Refer to the 'Footnotes' section for additional information.

5.Core effective tax rate, a non-IFRS measure, is the applicable annual tax rate on core taxable income. Refer to the 'Footnotes' section for additional information.

Executive Committee Changes

The Company has made the following changes to its Executive Committee (ECA), which will take effect September 1, 2024:

Ian Bell, currently President, Global Business & Innovation, and a member of the ECA, is named Senior Vice President and Chief Operating Officer (COO). Sue-Jean Lin, currently Senior Vice President, Chief Information and Transformation Officer, will step down from the ECA ahead of her retirement from the Company. Kim Martin, currently Senior Vice President, Chief Human Resources Officer and Corporate Communications, will join the ECA.

Webcast and Conference Call Instructions

The Company will host a conference call on August 21, 2024 at 8:00 a.m. Eastern Daylight Time / 2:00 p.m. Central European Summer Time to discuss its second-quarter 2024 earnings results. The webcast can be accessed online through Alcon's Investor Relations website, investor.alcon.com. Listeners should log on approximately 10 minutes in advance. A replay will be available online within 24 hours after the event.

The Company's interim financial report and supplemental presentation materials can be found online through Alcon's Investor Relations website, or by clicking on the link:

https://investor.alcon.com/news-and-events/events-and-presentations/event-details/2024/Alcons-Second-Quarter-2024-Earnings-Conference-Call-2024-gjVAL2EgFs/default.aspx

Footnotes (pages 1-4)

1.Constant currency (cc) is a non-IFRS measure. Growth in constant currency (cc) is calculated by translating the current year’s foreign currency items into US dollars using average exchange rates from the historical comparative period and comparing them to the values from the historical comparative period in US dollars. An explanation of non-IFRS measures can be found in the 'Non-IFRS measures as defined by the Company' section.

2.Core results, such as core operating income, core operating margin and core EPS, are non-IFRS measures. For additional information, including a reconciliation of such core results to the most directly comparable measures presented in accordance with IFRS, see the explanation of non-IFRS measures and reconciliation tables in the 'Non-IFRS measures as defined by the Company' and 'Financial tables' sections.

3.Free cash flow is a non-IFRS measure. For additional information regarding free cash flow, see the explanation of non-IFRS measures and reconciliation tables in the 'Non-IFRS measures as defined by the Company' and 'Financial tables' sections.

4.The forward-looking guidance included in this press release cannot be reconciled to the comparable IFRS measures without unreasonable efforts, because we are not able to predict with reasonable certainty the ultimate amount or nature of exceptional items in the fiscal year. Refer to the section 'Non-IFRS measures as defined by the Company' for more information.

5.Core effective tax rate, a non-IFRS measure, is the applicable annual tax rate on core taxable income. For additional information, see the explanation regarding reconciliation of forward-looking guidance in the 'Non-IFRS measures as defined by the Company' section.

Cautionary Note Regarding Forward-Looking Statements

This document contains, and our officers and representatives may from time to time make, certain “forward-looking statements” within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,” “seek,” “target,” “assume,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our liquidity, revenue, gross margin, operating margin, effective tax rate, foreign currency exchange movements, earnings per share, our plans and decisions relating to various capital expenditures, capital allocation priorities and other discretionary items such as our market growth assumptions, our social impact and sustainability plans, targets, goals and expectations, and generally, our expectations concerning our future performance.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict such as: cybersecurity breaches or other disruptions of our information technology systems; compliance with data privacy, identity protection and information security laws, particularly with the increased use of artificial intelligence; the impact of a disruption in our global supply chain or important facilities, particularly when we single-source or rely on limited sources of supply; our ability to forecast sales demand and manage our inventory levels and the changing buying patterns of our customers; our ability to manage social impact and sustainability matters; our reliance on outsourcing key business functions; global and regional economic, financial, monetary, legal, tax, political and social change; our success in completing and integrating strategic acquisitions; the success of our research and development efforts, including our ability to innovate to compete effectively; our ability to comply with the US Foreign Corrupt Practices Act of 1977 and other applicable anti-corruption laws; pricing pressure from changes in third party payor coverage and reimbursement methodologies; our ability to properly educate and train healthcare providers on our products; our ability to protect our intellectual property; our ability to comply with all laws to which we may be subject; the ability to obtain regulatory clearance and approval of our products as well as compliance with any post-approval obligations, including quality control of our manufacturing; the effect of product recalls or voluntary market withdrawals; the accuracy of our accounting estimates and assumptions, including pension and other post-employment benefit plan obligations and the carrying value of intangible assets; the impact of unauthorized importation of our products from countries with lower prices to countries with higher prices; our ability to service our debt obligations; the need for additional financing through the issuance of debt or equity; the effects of litigation, including product liability lawsuits and governmental investigations; supply constraints and increases in the cost of energy; our ability to attract and retain qualified personnel; legislative, tax and regulatory reform; the impact of being listed on two stock exchanges; the ability to declare and pay dividends; the different rights afforded to our shareholders as a Swiss corporation compared to a US corporation; the effect of maintaining or losing our foreign private issuer status under US securities laws; and the ability to enforce US judgments against Swiss corporations.

Additional factors are discussed in our filings with the United States Securities and Exchange Commission, including our Form 20-F. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this document speak only as of the date of its filing, and we assume no obligation to update forward-looking statements as a result of new information, future events or otherwise.

Intellectual Property

This report may contain references to our proprietary intellectual property. All product names appearing in italics or ALL CAPS are trademarks owned by or licensed to Alcon Inc. Product names identified by a "®" or a "™" are trademarks that are not owned by or licensed to Alcon or its subsidiaries and are the property of their respective owners.

Non-IFRS measures as defined by the Company

Alcon uses certain non-IFRS metrics when measuring performance, including when measuring current period results against prior periods, including core results, percentage changes measured in constant currency and free cash flow.

Because of their non-standardized definitions, the non-IFRS measures (unlike IFRS measures) may not be comparable to the calculation of similar measures of other companies. These supplemental non-IFRS measures are presented solely to permit investors to more fully understand how Alcon management assesses underlying performance. These supplemental non-IFRS measures are not, and should not be viewed as, a substitute for IFRS measures.

Core results

Alcon core results, including core operating income and core net income, exclude all amortization and impairment charges of intangible assets, excluding software, net gains and losses on fund investments and equity securities valued at fair value through profit and loss ("FVPL"), fair value adjustments of financial assets in the form of options to acquire a company carried at FVPL and certain acquisition related items. The following items that exceed a threshold of $10 million and are deemed exceptional are also excluded from core results: integration and divestment related income and expenses, divestment gains and losses, restructuring charges/releases and related items, legal related items, gains/losses on early extinguishment of debt or debt modifications, past service costs for post-employment benefit plans, impairments of property, plant and equipment and software, as well as income and expense items that management deems exceptional and that are or are expected to accumulate within the year to be over a $10 million threshold.

Taxes on the adjustments between IFRS and core results take into account, for each individual item included in the adjustment, the tax rate that will finally be applicable to the item based on the jurisdiction where the adjustment will finally have a tax impact. Generally, this results in amortization and impairment of intangible assets and acquisition-related restructuring and integration items having a full tax impact. There is usually a tax impact on other items, although this is not always the case for items arising from legal settlements in certain jurisdictions.

Alcon believes that investor understanding of its performance is enhanced by disclosing core measures of performance because, since they exclude items that can vary significantly from period to period, the core measures enable a helpful comparison of business performance across periods. For this same reason, Alcon uses these core measures in addition to IFRS and other measures as important factors in assessing its performance.

A limitation of the core measures is that they provide a view of Alcon operations without including all events during a period, such as the effects of an acquisition, divestment, or amortization/impairments of purchased intangible assets and restructurings.

Constant currency

Changes in the relative values of non-US currencies to the US dollar can affect Alcon's financial results and financial position. To provide additional information that may be useful to investors, including changes in sales volume, we present information about changes in our net sales and various values relating to operating and net income that are adjusted for such foreign currency effects.

Constant currency calculations have the goal of eliminating two exchange rate effects so that an estimate can be made of underlying changes in the Consolidated Income Statement excluding:

•the impact of translating the income statements of consolidated entities from their non-US dollar functional currencies to the US dollar; and

•the impact of exchange rate movements on the major transactions of consolidated entities performed in currencies other than their functional currency.

Alcon calculates constant currency measures by translating the current year's foreign currency values for sales and other income statement items into US dollars, using the average exchange rates from the historical comparative period and comparing them to the values from the historical comparative period in US dollars.

Free cash flow

Alcon defines free cash flow as net cash flows from operating activities less cash flow associated with the purchase or sale of property, plant and equipment. Free cash flow is presented as additional information because Alcon management believes it is a useful supplemental indicator of Alcon's ability to operate without reliance on additional borrowing or use of existing cash. Free cash flow is not intended to be a substitute measure for net cash flows from operating activities as determined under IFRS.

Growth rate and margin calculations

For ease of understanding, Alcon uses a sign convention for its growth rates such that a reduction in operating expenses or losses compared to the prior year is shown as a positive growth.

Gross margins, operating income margins and core operating income margins are calculated based upon net sales to third parties unless otherwise noted.

Reconciliation of guidance for forward-looking non-IFRS measures

The forward-looking guidance included in this press release cannot be reconciled to the comparable IFRS measures without unreasonable efforts, because we are not able to predict with reasonable certainty the ultimate amount or nature of exceptional items in the fiscal year. These items are uncertain, depend on many factors and could have a material impact on our IFRS results for the guidance period.

Financial tables

Net sales by region


	Three months ended June 30						Six months ended June 30
($ millions unless indicated otherwise)	2024			2023			2024			2023

United States	1,141	46	%	1,105	46	%	2,290	46	%	2,183	46	%
International	1,341	54	%	1,297	54	%	2,636	54	%	2,552	54	%
Net sales to third parties	2,482	100	%	2,402	100	%	4,926	100	%	4,735	100	%

Consolidated Income Statement (unaudited)


	Three months ended June 30		Six months ended June 30
($ millions except earnings per share)	2024	2023		2024	2023
Net sales to third parties	2,482	2,402		4,926	4,735

Other revenues	14	20		29	39
Net sales and other revenues	2,496	2,422		4,955	4,774
Cost of net sales	(1,108)	(1,040)		(2,171)	(2,070)
Cost of other revenues	(14)	(19)		(28)	(36)
Gross profit	1,374	1,363		2,756	2,668
Selling, general & administration	(837)	(832)		(1,639)	(1,617)
Research & development	(220)	(217)		(419)	(419)
Other income	5	5		11	10
Other expense	(4)	(49)		(23)	(104)
Operating income	318	270		686	538
Interest expense	(50)	(48)		(95)	(95)
Other financial income & expense	12	(9)		24	(17)
Income before taxes	280	213		615	426
Taxes	(57)	(44)		(144)	(83)
Net income	223	169		471	343

Earnings per share ($)
Basic	0.45	0.34		0.95	0.70
Diluted	0.45	0.34		0.95	0.69

Weighted average number of shares outstanding (millions)
Basic	494.5	493.2		494.1	492.8
Diluted	497.0	495.7		496.7	495.9

Balance sheet highlights


($ millions)	June 30, 2024	December 31, 2023
Cash and cash equivalents	1,372	1,094
Current financial debts	137	63
Non-current financial debts	4,550	4,676

Free cash flow (non-IFRS measure)

The following is a summary of free cash flow for the six months ended June 30, 2024 and 2023, together with a reconciliation to net cash flows from operating activities, the most directly comparable IFRS measure:


	Six months ended June 30
($ millions)	2024	2023
Net cash flows from operating activities	871	410
Purchase of property, plant & equipment	(204)	(221)

Free cash flow	667	189

Reconciliation of IFRS results to core results (non-IFRS measure)

Three months ended June 30, 2024


($ millions except earnings per share)	IFRS results	Amortization of certain intangible assets(1)	Impairments(2)	Other items(4)	Core results (non-IFRS measure)
Gross profit	1,374	165	—	—	1,539
Operating income	318	165	9	(1)	491
Income before taxes	280	165	9	(1)	453
Taxes(5)	(57)	(30)	—	1	(86)
Net income	223	135	9	—	367
Basic earnings per share ($)	0.45				0.74
Diluted earnings per share ($)	0.45				0.74
Basic - weighted average shares outstanding (millions)(6)	494.5				494.5
Diluted - weighted average shares outstanding (millions)(6)	497.0				497.0

Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.

Three months ended June 30, 2023


($ millions except earnings per share)	IFRS results	Amortization of certain intangible assets(1)	Transformation costs(3)	Other items(4)	Core results (non-IFRS measure)
Gross profit	1,363	164	—	5	1,532
Operating income	270	168	26	15	479
Income before taxes	213	168	26	15	422
Taxes(5)	(44)	(30)	(4)	(3)	(81)
Net income	169	138	22	12	341
Basic earnings per share ($)	0.34				0.69
Diluted earnings per share ($)	0.34				0.69
Basic - weighted average shares outstanding (millions)(6)	493.2				493.2
Diluted - weighted average shares outstanding (millions)(6)	495.7				495.7

Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.

Six months ended June 30, 2024


($ millions except earnings per share)	IFRS results	Amortization of certain intangible assets(1)	Impairments(2)	Other items(4)	Core results (non-IFRS measure)
Gross profit	2,756	329	—	3	3,088
Operating income	686	331	9	2	1,028
Income before taxes	615	331	9	2	957
Taxes(5)	(144)	(59)	—	—	(203)
Net income	471	272	9	2	754
Basic earnings per share ($)	0.95				1.53
Diluted earnings per share ($)	0.95				1.52
Basic - weighted average shares outstanding (millions)(6)	494.1				494.1
Diluted - weighted average shares outstanding (millions)(6)	496.7				496.7

Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.

Six months ended June 30, 2023


($ millions except earnings per share)	IFRS results	Amortization of certain intangible assets(1)	Transformation costs(3)	Other items(4)	Core results (non-IFRS measure)
Gross profit	2,668	333	—	9	3,010
Operating income	538	341	52	28	959
Income before taxes	426	341	52	28	847
Taxes(5)	(83)	(61)	(9)	(6)	(159)
Net income	343	280	43	22	688
Basic earnings per share ($)	0.70				1.40
Diluted earnings per share ($)	0.69				1.39
Basic - weighted average shares outstanding (millions)(6)	492.8				492.8
Diluted - weighted average shares outstanding (millions)(6)	495.9				495.9

Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.

Explanatory footnotes to IFRS to core reconciliation tables

(1)Includes recurring amortization for all intangible assets other than software.

(2) Includes impairment charges related to intangible assets.

(3) Transformation costs, primarily related to restructuring and third party consulting fees, for the multi-year transformation program. The transformation program was completed in the fourth quarter of 2023.

(4) For the three months ended June 30, 2024, Operating income includes fair value adjustments of financial assets, partially offset by the amortization of option rights.

For the three months ended June 30, 2023, Gross profit includes the amortization of inventory fair value adjustments related to a recent acquisition. Operating income also includes integration related expenses for a recent acquisition and the amortization of option rights.

For the six months ended June 30, 2024, Gross profit includes the amortization of inventory fair value adjustments related to a recent acquisition. Operating income also includes the amortization of option rights, offset by fair value adjustments of financial assets.

For the six months ended June 30, 2023, Gross profit includes the amortization of inventory fair value adjustments related to a recent acquisition. Operating income also includes integration related expenses for a recent acquisition, fair value adjustments of financial assets and the amortization of option rights.

(5) For the three months ended June 30, 2024, tax associated with operating income core adjustments of $173 million totaled $29 million with an average tax rate of 16.8%.

For the three months ended June 30, 2023, tax associated with operating income core adjustments of $209 million totaled $37 million with an average tax rate of 17.7%.

For the six months ended June 30, 2024, tax associated with operating income core adjustments of $342 million totaled $59 million with an average tax rate of 17.3%.

For the six months ended June 30, 2023, tax associated with operating income core adjustments of $421 million totaled $76 million with an average tax rate of 18.1%.

(6) Core basic earnings per share is calculated using the weighted-average shares of common stock outstanding during the period. Core diluted earnings per share also contemplate dilutive shares associated with unvested equity-based awards as described in Note 3 to the Condensed Consolidated Interim Financial Statements.

About Alcon

Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.

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Daniel Cravens

Allen Trang

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investor.relations@alcon.com

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Steven Smith

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globalmedia.relations@alcon.com

ALCON INC. INTERIM FINANCIAL REPORT


INDEX			Page
Operating Performance			2
Liquidity and Capital Resources			11
Condensed Consolidated Interim Financial Statements of Alcon Inc. (unaudited)
Consolidated Income Statement			14
Consolidated Statement of Comprehensive Income			15
Consolidated Balance Sheet			16
Consolidated Statement of Changes in Equity			17
Consolidated Statement of Cash Flows			18
Notes to Condensed Consolidated Interim Financial Statements of Alcon Inc.			19
Supplementary Information – Definitions and Reconciliations of Non-IFRS Measures
Non-IFRS Measures as Defined by the Company			31
Reconciliation of IFRS Results to Core Results (non-IFRS measure)			33
EBITDA (non-IFRS measure)			36
Cash Flow and Net (Debt)/Liquidity (non-IFRS measure)			36
Net (Debt)/Liquidity (non-IFRS measure)			36
Free Cash Flow (non-IFRS measure)			37
Disclaimer			38

OPERATING PERFORMANCE

Key figures


	Three months ended June 30				Six months ended June 30
			Change %				Change %
($ millions unless indicated otherwise)	2024	2023	$	cc(1) (non-IFRS measure)	2024	2023	$	cc(1) (non-IFRS measure)

Net sales to third parties	2,482	2,402	3	6	4,926	4,735	4	7
Gross profit	1,374	1,363	1	4	2,756	2,668	3	7
Operating income	318	270	18	30	686	538	28	42
Operating margin (%)	12.8	11.2			13.9	11.4
Net income	223	169	32	47	471	343	37	55
Basic earnings per share ($)(2)	0.45	0.34	32	47	0.95	0.70	36	55
Diluted earnings per share ($)(2)	0.45	0.34	32	47	0.95	0.69	38	55

Core results (non-IFRS measure)(1)
Core operating income	491	479	3	9	1,028	959	7	15
Core operating margin (%)	19.8	19.9			20.9	20.3
Core net income	367	341	8	15	754	688	10	19
Core basic earnings per share ($)(2)	0.74	0.69	7	15	1.53	1.40	9	18
Core diluted earnings per share ($)(2)	0.74	0.69	7	15	1.52	1.39	9	18

(1)Core results and constant currencies (cc) as presented in this table are non-IFRS measures. Alcon uses certain non-IFRS metrics when measuring performance, including when measuring current period results against prior periods. Refer to the 'Supplementary Information' section for additional information and reconciliation tables.

(2)Per share amounts may not add across quarters due to rounding.

Net sales by segment


	Three months ended June 30				Six months ended June 30
			Change %				Change %
($ millions unless indicated otherwise)	2024	2023	$	cc(1) (non-IFRS measure)	2024	2023	$	cc(1) (non-IFRS measure)

Surgical
Implantables	464	437	6	9	897	864	4	8
Consumables	736	714	3	5	1,422	1,370	4	6
Equipment/other	223	231	(3)	(1)	442	452	(2)	—
Total Surgical	1,423	1,382	3	6	2,761	2,686	3	6

Vision Care
Contact lenses	636	594	7	9	1,307	1,209	8	10
Ocular health	423	426	(1)	2	858	840	2	5
Total Vision Care	1,059	1,020	4	6	2,165	2,049	6	8
Net sales to third parties	2,482	2,402	3	6	4,926	4,735	4	7

(1) Constant currencies is a non-IFRS measure. Refer to the 'Supplementary Information' section for additional information.

Second quarter

Surgical

Surgical net sales were $1.4 billion, an increase of 3%. Excluding unfavorable currency impacts of 3%, Surgical net sales increased 6% in constant currencies.

•Implantables net sales were $464 million, an increase of 6%. Excluding unfavorable currency impacts of 3%, Implantables net sales increased 9% in constant currencies. Growth was led by advanced technology intraocular lenses in international markets.

•Consumables net sales were $736 million, an increase of 3%, driven by cataract and vitreoretinal consumables, particularly in international markets, and price increases. Excluding unfavorable currency impacts of 2%, Consumables net sales increased 5% in constant currencies.

•Equipment/other net sales were $223 million, a decrease of 3%. Excluding unfavorable currency impacts of 2%, Equipment/other net sales decreased 1% in constant currencies as the prior year period benefited from strong demand for cataract equipment in international markets.

Vision Care

Vision Care net sales were $1.1 billion, an increase of 4%. Excluding unfavorable currency impacts of 2%, Vision Care net sales increased 6% in constant currencies.

•Ocular health net sales were $423 million, a decrease of 1%. Excluding unfavorable currency impacts of 3%, Ocular health net sales increased 2% in constant currencies. This constant currency growth was primarily driven by the portfolio of eye drops, including continued strength from the Systane family of artificial tears. Growth was partially offset by a decline of 4% due to contact lens care, primarily driven by the prior year period benefit from the recovery from supply chain challenges.

First half

Surgical

Surgical net sales were $2.8 billion, an increase of 3%. Excluding unfavorable currency impacts of 3%, Surgical net sales increased 6% in constant currencies.

•Implantables net sales were $897 million, an increase of 4%, led by advanced technology intraocular lenses in international markets. Growth was partially offset by unfavorable currency impacts of 4%. Implantables net sales increased 8% in constant currencies.

•Consumables net sales were $1.4 billion, an increase of 4%, driven by cataract and vitreoretinal consumables, particularly in international markets, and price increases. Excluding unfavorable currency impacts of 2%, Consumables net sales increased 6% in constant currencies.

•Equipment/other net sales were $442 million, a decrease of 2%. Excluding unfavorable currency impacts of 2%, Equipment/other net sales were in line with the prior year period in constant currencies as the prior year period benefited from strong demand for cataract equipment in international markets.

Vision Care

Vision Care net sales were $2.2 billion, an increase of 6%. Excluding unfavorable currency impacts of 2%, Vision Care net sales increased 8% in constant currencies.

•Contact lenses net sales were $1.3 billion, an increase of 8%, driven by product innovation, including our toric and multifocal modalities, and price increases. Growth was partially offset by unfavorable currency impacts of 2%. Contact lenses net sales increased 10% in constant currencies.

•Ocular health net sales were $858 million, an increase of 2%, primarily driven by the portfolio of eye drops, including continued strength from the Systane family of artificial tears. Growth was partially offset by a decline of 2% due to contact lens care, primarily driven by the prior year period benefit from the recovery from supply chain challenges, and unfavorable currency impacts of 3%. Ocular health net sales increased 5% in constant currencies.

Operating income


	Three months ended June 30				Six months ended June 30
			Change %				Change %
($ millions unless indicated otherwise)	2024	2023	$	cc(1) (non-IFRS measure)	2024	2023	$	cc(1) (non-IFRS measure)

Gross profit	1,374	1,363	1	4	2,756	2,668	3	7
Selling, general & administration	(837)	(832)	(1)	(2)	(1,639)	(1,617)	(1)	(3)
Research & development	(220)	(217)	(1)	(2)	(419)	(419)	—	—
Other income	5	5	—	14	11	10	10	11
Other expense	(4)	(49)	92	90	(23)	(104)	78	77
Operating income	318	270	18	30	686	538	28	42
Operating margin (%)	12.8	11.2			13.9	11.4

Core results (non-IFRS measure)(1)
Core gross profit	1,539	1,532	—	4	3,088	3,010	3	6
Core operating income	491	479	3	9	1,028	959	7	15
Core operating margin (%)	19.8	19.9			20.9	20.3

(1) Core results and constant currencies are non-IFRS measures. Refer to the 'Supplementary Information' section for additional information and reconciliation tables.

Second quarter

Operating income was $318 million (+18%,+30% cc), compared to $270 million in the prior year period. Operating margin increased 1.6 percentage points, reflecting improved underlying operating leverage from higher sales. The prior year period included $26 million for the transformation program which was completed in the fourth quarter of 2023. The second quarter of 2024 included significantly higher inventory provisions in Vision Care due to a supplier-related quality issue which resulted in a negative impact of $30 million or 1.2 percentage points to operating margin. Operating margin was also impacted by higher costs of inventory in Surgical and a negative 1.0 percentage point impact from currency. Operating margin increased 2.6 percentage points on a constant currencies basis.

Adjustments to arrive at core operating income in the current year period were $173 million, mainly due to $165 million of amortization. Adjustments to arrive at core operating income in the prior year period were $209 million, mainly due to $168 million of amortization and $26 million of transformation costs.

Core operating income was $491 million (+3%, +9% cc), compared to $479 million in the prior year period. Core operating margin decreased 0.1 percentage point, including a negative 0.8 percentage point impact from currency. Core operating margin increased 0.7 percentage points on a constant currencies basis, reflecting improved underlying operating leverage from higher sales. The second quarter of 2024 included significantly higher inventory provisions in Vision Care due to a supplier-related quality issue which resulted in a negative impact of $30 million or 1.2 percentage points to core operating margin. There were also higher costs of inventory in Surgical.

First half

Operating income was $686 million (+28%, +42% cc), compared to $538 million in the prior year period. Operating margin increased 2.5 percentage points, reflecting improved underlying operating leverage from higher sales. The prior year period included $52 million of transformation costs. The second quarter of 2024 included significantly higher inventory provisions in Vision Care due to a supplier-related quality issue which resulted in a negative impact of $30 million or 0.6 percentage points to operating margin. Operating margin was also impacted by higher costs of inventory in Surgical and a negative 1.2 percentage point impact from currency. Operating margin increased 3.7 percentage points on a constant currencies basis.

Adjustments to arrive at core operating income in the current year period were $342 million, mainly due to $331 million of amortization. Adjustments to arrive at core operating income in the prior year period were $421 million, mainly due to $341 million of amortization and $52 million of transformation costs.

Core operating income was $1.0 billion (+7%, +15% cc), compared to $959 million in the prior year period. Core operating margin increased 0.6 percentage points, reflecting improved underlying operating leverage from higher sales. The second quarter of 2024 included significantly higher inventory provisions in Vision Care due to a supplier-related quality issue which resulted in a negative impact of $30 million or 0.6 percentage points to core operating margin. Core operating margin was also impacted by higher costs of inventory in Surgical and a negative 1.0 percentage point impact from currency. Core operating margin increased 1.6 percentage points on a constant currencies basis.

Segment contribution

For additional information regarding segment contribution, please refer to Note 2 to the Condensed Consolidated Interim Financial Statements.


	Three months ended June 30				Six months ended June 30
			Change %				Change %
($ millions unless indicated otherwise)	2024	2023	$	cc(1) (non-IFRS measure)	2024	2023	$	cc(1) (non-IFRS measure)

Surgical segment contribution	403	407	(1)	5	789	788	—	7
As % of net sales	28.3	29.5			28.6	29.3
Vision Care segment contribution	180	174	3	9	438	373	17	23
As % of net sales	17.0	17.1			20.2	18.2
Not allocated to segments	(265)	(311)	15	15	(541)	(623)	13	13
Operating income	318	270	18	30	686	538	28	42
Core adjustments (non-IFRS measure)(1)	173	209			342	421
Core operating income (non-IFRS measure)(1)	491	479	3	9	1,028	959	7	15

(1)Core results and constant currencies are non-IFRS measures. Refer to the 'Supplementary Information' section for additional information and reconciliation tables.

Second quarter

Surgical

Surgical segment contribution was $403 million (-1%, +5% cc), compared to $407 million in the prior year period. Segment contribution margin decreased 1.2 percentage points, including a negative 1.0 percentage point impact from currency. Segment contribution margin decreased 0.2 percentage points on a constant currencies basis due to higher costs of inventory, partially offset by improvements in underlying operating leverage from higher sales.

Vision Care

Vision Care segment contribution was $180 million (+3%, +9% cc), compared to $174 million in the prior year period. Segment contribution margin decreased 0.1 percentage points, including a negative 0.5 percentage point impact from currency. Segment contribution margin increased 0.4 percentage points on a constant currencies basis due to improvements in underlying operating leverage from higher sales, partially offset by significantly higher inventory provisions due to a supplier-related quality issue which resulted in a negative impact of $30 million or 2.8 percentage points to segment contribution.

Not allocated to segments

Operating loss not allocated to segments totaled $265 million (+15%, +15% cc), compared to $311 million in the prior year period. The decrease in amounts not allocated was primarily driven by transformation costs in the prior year period.

First half

Surgical

Surgical segment contribution was $789 million (0%, +7% cc), in line with the prior year period. Segment contribution margin decreased 0.7 percentage points, including a negative 1.1 percentage point impact from currency. Segment contribution margin increased 0.4 percentage points on a constant currencies basis due to improvements in underlying operating leverage from higher sales, partially offset by higher costs of inventory.

Vision Care

Vision Care segment contribution was $438 million (+17%, +23% cc), compared to $373 million in the prior year period. Segment contribution margin increased 2.0 percentage points, with improved underlying operating leverage from higher sales, partially offset by significantly higher inventory provisions due to a supplier-related quality issue in the second quarter of 2024 which resulted in a negative impact of $30 million or 1.4 percentage points to segment contribution. There was also a negative 0.5 percentage point impact from currency. Segment contribution margin increased 2.5 percentage points on a constant currencies basis.

Not allocated to segments

Operating loss not allocated to segments totaled $541 million (+13%, +13% cc), compared to $623 million in the prior year period. The decrease in amounts not allocated was primarily driven by transformation costs in the prior year period.

Non-operating income & expense


	Three months ended June 30				Six months ended June 30
			Change %				Change %
($ millions unless indicated otherwise)	2024	2023	$	cc(1) (non-IFRS measure)	2024	2023	$	cc(1) (non-IFRS measure)

Operating income	318	270	18	30	686	538	28	42
Interest expense	(50)	(48)	(4)	(5)	(95)	(95)	—	—
Other financial income & expense	12	(9)	nm	nm	24	(17)	nm	nm

Income before taxes	280	213	31	47	615	426	44	63
Taxes	(57)	(44)	(30)	(44)	(144)	(83)	(73)	(95)
Net income	223	169	32	47	471	343	37	55
Basic earnings per share ($)(2)	0.45	0.34	32	47	0.95	0.70	36	55
Diluted earnings per share ($)(2)	0.45	0.34	32	47	0.95	0.69	38	55

Core results (non-IFRS measure)(1)
Core taxes	(86)	(81)	(6)	(13)	(203)	(159)	(28)	(38)
Core net income	367	341	8	15	754	688	10	19
Core basic earnings per share ($)(2)	0.74	0.69	7	15	1.53	1.40	9	18
Core diluted earnings per share ($)(2)	0.74	0.69	7	15	1.52	1.39	9	18

nm = not meaningful

(1) Core results and constant currencies are non-IFRS measures. Refer to the 'Supplementary Information' section for additional information and reconciliation tables.

(2)Per share amounts may not add across quarters due to rounding.

Second quarter

Interest expense

Interest expense was $50 million, broadly in line with the prior year period.

Other financial income & expense

Other financial income & expense was a net benefit of $12 million, compared to a net expense of $9 million in the prior year period. The change was primarily driven by an increase in interest income and lower foreign currency exchange losses.

Taxes

Tax expense was $57 million, compared to $44 million in the prior year period. The average tax rate was 20.4%, compared to 20.7% in the prior year period. The decrease in average tax rate is primarily driven by a more favorable mix of pre-tax income/(loss) across geographical tax jurisdictions and higher benefits from the build of inventory in certain international markets in the current year period, partially offset by discrete tax benefits in the prior year period.

Adjustments to arrive at core tax expense in the current year period were $29 million, compared to $37 million in the prior year period, for the tax effect associated with operating income core adjustments.

Core tax expense was $86 million, compared to $81 million in the prior year period. The average core tax rate was 19.0%, compared to 19.2% in the prior year period. The decrease in average tax rate is primarily driven by a more favorable mix of pre-tax income/(loss) across geographical tax jurisdictions and higher benefits from the build of inventory in certain international markets in the current year period, partially offset by discrete tax benefits in the prior year period.

Net income and earnings per share

Net income was $223 million, compared to $169 million in the prior year period, primarily due to higher operating income and a net benefit in other financial income & expense, partially offset by higher tax expense. The associated basic and diluted earnings per share were $0.45, compared to basic and diluted earnings per share of $0.34 in the prior year period.

Core net income was $367 million, compared to $341 million in the prior year period, primarily due to higher core operating income and a net benefit in other financial income & expense, partially offset by higher core tax expense. The associated core basic and diluted earnings per share were $0.74, compared to core basic and diluted earnings per share of $0.69 in the prior year period.

First half

Interest expense

Interest expense was $95 million, in line with the prior year period.

Other financial income & expense

Other financial income & expense was a net benefit of $24 million, compared to a net expense of $17 million in the prior year period. The change was primarily driven by an increase in interest income and lower foreign currency exchange losses.

Taxes

Tax expense was $144 million, compared to $83 million in the prior year period. The average tax rate was 23.4%, compared to 19.5% in the prior year period. The increase in average tax rate is primarily driven by a net expense of $13 million from discrete tax items in the current year period, compared to discrete tax benefits in the prior year period. The prior year period also benefited from the deduction of a statutory expense in Switzerland. Increases to the average tax rate were partially offset by a more favorable mix of pre-tax income/(loss) across geographical tax jurisdictions in the current year period.

Adjustments to arrive at core tax expense in the current year period were $59 million, compared to $76 million in the prior year period, for the tax effect associated with operating income core adjustments.

Core tax expense was $203 million, compared to $159 million in the prior year period. The average core tax rate was 21.2%, compared to 18.8% in the prior year period. The increase in average tax rate is primarily driven by a net expense of $13 million from discrete tax items in the current year period, compared to discrete tax benefits in the prior year period. The prior year period also benefited from the deduction of a statutory expense in Switzerland. Increases to the average tax rate were partially offset by a more favorable mix of pre-tax income/(loss) across geographical tax jurisdictions in the current year period.

Net income and earnings per share

Net income was $471 million, compared to $343 million in the prior year period, primarily due to higher operating income and a net benefit in other financial income & expense, partially offset by higher tax expense. The associated basic and diluted earnings per share were $0.95, compared to basic and diluted earnings per share of $0.70 and $0.69, respectively, in the prior year period.

Core net income was $754 million, compared to $688 million in the prior year period, primarily due to higher core operating income and a net benefit in other financial income & expense, partially offset by higher core tax expense. The associated core basic and diluted earnings per share were $1.53 and $1.52, respectively, compared to core basic and diluted earnings per share of $1.40 and $1.39, respectively, in the prior year period.

LIQUIDITY AND CAPITAL RESOURCES

Cash flow

Net cash flows from operating activities

Net cash flows from operating activities amounted to $871 million in the first six months of 2024, compared to $410 million in the prior year period. The current year period includes increased collections associated with higher sales, lower taxes paid due to timing of payments and lower transformation payments following completion of the transformation program in the fourth quarter of 2023, partially offset by associate short-term incentive payments, which generally occur in the first quarter and were higher than in the prior year period, and increased payments for operating expenses. The prior period included a cash outflow for settlement of legal proceedings with Johnson & Johnson Surgical Vision, Inc. ("JJSVI"). Both periods were impacted by changes in net working capital.

Changes in net working capital in the current year were mainly driven by the net change in other operating liabilities and increases in trade receivables and inventories, partially offset by an increase in trade payables. The net change in other operating liabilities was primarily driven by the timing of annual associate short-term incentive payments. The increase in trade receivables was primarily driven by new receivables from higher sales outpacing collections. The increase in inventories was primarily to meet expected upcoming demand. The increase in trade payables was primarily driven by the timing of payments.

Changes in net working capital in the prior year period were mainly driven by increases in inventories and trade receivables and the net change in other operating liabilities and other operating assets. The increase in inventories was primarily to meet expected upcoming demand. The increase in trade receivables was primarily driven by new receivables from higher sales outpacing collections. The net change in other operating liabilities was primarily driven by the timing of annual associate short-term incentive payments. The net change in other operating assets was primarily driven by increases in the current portion of long-term receivables from customers, prepaid expenses and other receivables. Refer to Note 7 of the Condensed Consolidated Interim Financial Statements for additional details regarding changes within net working capital in the current and prior year periods.

Net cash flows used in investing activities

Net cash flows used in investing activities amounted to $351 million in the first six months of 2024, compared to $568 million in the prior year period. Cash outflows in the current year period primarily include capital expenditures, payments for financial assets measured at fair value through other comprehensive income ("FVOCI") and purchases of software and other intangible assets.

Cash outflows in the prior year period primarily included capital expenditures, payments for financial assets and purchases of intangible assets. Payments for financial assets primarily included a long-term note receivable related to new financing arrangements with Lifecore Biomedical, Inc. and certain of its affiliates (collectively, "Lifecore") in the second quarter of 2023 and long-term financial investments measured at FVOCI. Purchases of intangible assets primarily included intellectual property licenses.

Net cash flows used in financing activities

Net cash flows used in financing activities amounted to $237 million in the first six months of 2024, compared to $166 million in the prior year period. Cash outflows in the current year period primarily include dividends paid to shareholders of Alcon Inc., lease payments, withholding taxes paid upon net settlements of equity-based compensation and net payments related to certain local debt facilities.

Cash outflows in the prior year period primarily included dividends paid to shareholders of Alcon Inc., withholding taxes paid upon net settlements of equity-based compensation and lease payments, partially offset by net proceeds from local debt facilities.

Free cash flow (non-IFRS measure)

Free cash flow amounted to $667 million in the first six months of 2024, compared to $189 million in the prior year period, primarily due to increased cash flows from operating activities.

For additional information regarding free cash flow, which is a non-IFRS measure, see the explanation of non-IFRS measures and reconciliation tables in the 'Supplementary Information' section.

Balance sheet

Assets

Total non-current assets were $23.7 billion as of June 30, 2024, a decrease of $236 million when compared to $24.0 billion as of December 31, 2023. Intangible assets other than goodwill decreased $300 million due to recurring amortization, partially offset by additions of software and other intangible assets. Financial assets increased $91 million primarily due to purchases of long-term financial investments measured at FVOCI.

Total current assets were $6.0 billion as of June 30, 2024, an increase of $340 million when compared to $5.6 billion as of December 31, 2023. Cash and cash equivalents increased $278 million due to the net impact of operating, investing and financing activities as described in the preceding section. Our cash and cash equivalents are maintained at a number of financial institutions. To mitigate the risk of uninsured balances, we select financial institutions based on their credit ratings and financial strength, and we perform ongoing evaluations of these institutions to limit our concentration risk exposure. Trade receivables increased $59 million primarily driven by higher sales outpacing collections, partially offset by foreign currency translation effects.

Liabilities

Total non-current liabilities were $6.4 billion as of June 30, 2024, a decrease of $155 million when compared to $6.6 billion as of December 31, 2023. Financial debts decreased $126 million primarily due to the movement of local debt facility balances to current financial debts and foreign currency translation effects.

Total current liabilities were $2.3 billion as of June 30, 2024, a decrease of $58 million when compared to $2.4 billion as of December 31, 2023. Provisions and other current liabilities decreased $262 million primarily due to the timing of annual associate short-term incentive payments and payments related to the transformation program. Current financial debts increased $74 million primarily due to the movement of local debt facility balances from non-current financial debts, partially offset by net payments of certain local debt facilities. Current income tax liabilities increased $73 million primarily driven by the timing of payments and increased profitability. Trade payables increased $57 million primarily due to the timing of payments.

Equity

Equity was $20.9 billion as of June 30, 2024, an increase of $317 million when compared to $20.6 billion as of December 31, 2023.

Net (debt)/liquidity (non-IFRS measure)

Net debt of $3.3 billion as of June 30, 2024 decreased $339 million compared to $3.6 billion as of December 31, 2023. Alcon's liquidity amounted to $1.4 billion as of June 30, 2024, compared to $1.1 billion as of December 31, 2023. Total financial debt amounted to $4.7 billion as of June 30, 2024, in line with December 31, 2023.

The average maturity of financial debts outstanding as of June 30, 2024 is 10.3 years, and 97% of Alcon's financial debt is at fixed interest rates. We believe that we have adequate liquidity to meet our needs.

The $1.32 billion revolving credit facility remained undrawn as of June 30, 2024 and August 20, 2024.

For additional information regarding net (debt)/liquidity, which is a non-IFRS measure, see the explanation of non-IFRS measures and reconciliation tables in the 'Supplementary Information' section.

Additional Considerations

Foreign currencies

We use the US Dollar as our reporting currency and are therefore also exposed to foreign currency exchange movements and costs to enter hedging agreements, primarily in Euros, Japanese Yen, Chinese Renminbi, Canadian Dollars, Singaporean Dollars, Swiss Francs, Russian Rubles and emerging market currencies. The foreign currency exposure on the balance sheet is hedged with limited exception, but the impact of ongoing macroeconomic conditions is currently unknown and could have a material adverse effect on our results of operations, cash flows or financial condition.

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS OF ALCON INC.

Consolidated Income Statement (unaudited)


		Three months ended June 30		Six months ended June 30
($ millions except earnings per share)	Note	2024	2023	2024	2023
Net sales to third parties	2	2,482	2,402	4,926	4,735
Other revenues	2	14	20	29	39
Net sales and other revenues		2,496	2,422	4,955	4,774
Cost of net sales		(1,108)	(1,040)	(2,171)	(2,070)
Cost of other revenues		(14)	(19)	(28)	(36)
Gross profit		1,374	1,363	2,756	2,668
Selling, general & administration		(837)	(832)	(1,639)	(1,617)
Research & development		(220)	(217)	(419)	(419)
Other income		5	5	11	10
Other expense		(4)	(49)	(23)	(104)
Operating income		318	270	686	538
Interest expense		(50)	(48)	(95)	(95)
Other financial income & expense		12	(9)	24	(17)

Income before taxes		280	213	615	426
Taxes		(57)	(44)	(144)	(83)
Net income		223	169	471	343

Earnings per share ($)
Basic		0.45	0.34	0.95	0.70
Diluted		0.45	0.34	0.95	0.69

Weighted average number of shares outstanding (millions)
Basic	3	494.5	493.2	494.1	492.8
Diluted	3	497.0	495.7	496.7	495.9

The accompanying Notes form an integral part of the Condensed Consolidated Interim Financial Statements.

Consolidated Statement of Comprehensive Income (unaudited)


	Three months ended June 30		Six months ended June 30
($ millions)	2024	2023	2024	2023

Net income	223	169	471	343
Other comprehensive income to be eventually recycled into the Consolidated Income Statement:
Currency translation effects, net of taxes(1)	(22)	(18)	(74)	9
Total of items to eventually recycle	(22)	(18)	(74)	9
Other comprehensive income never to be recycled into the Consolidated Income Statement:
Actuarial gains/(losses) from defined benefit plans, net of taxes(2)	5	1	19	(7)
Fair value adjustments on equity investments, net of taxes(3)	4	1	5	2
Total of items never to be recycled	9	2	24	(5)
Total comprehensive income	210	153	421	347

(1)Amount is net of tax expense of $1 million for the three months ended June 30, 2024. Amount is net of tax benefit of $1 million for the three months ended June 30, 2023. Amount is net of tax expense of $0.5 million for the six months ended June 30, 2024. Amount is net of tax benefit of $1 million for the six months ended June 30, 2023.

(2)Amounts are net of tax expense of $2 million and $0.4 million for the three months ended June 30, 2024 and 2023, respectively. Amount is net of tax expense of $6 million for the six months ended June 30, 2024. Amount is net of tax benefit of $2 million for the six months ended June 30, 2023.

(3)Amounts are net of tax expense of $0.9 million and $0.4 million for the three months ended June 30, 2024 and 2023, respectively. Amounts are net of tax expense of $1 million and $0.8 million for the six months ended June 30, 2024 and 2023, respectively.

The accompanying Notes form an integral part of the Condensed Consolidated Interim Financial Statements.

Consolidated Balance Sheet (unaudited)


($ millions)	Note	June 30, 2024	December 31, 2023
Assets
Non-current assets
Property, plant & equipment		4,330	4,369
Right-of-use assets		356	354
Goodwill		8,926	8,926
Intangible assets other than goodwill	4	8,760	9,060
Deferred tax assets		448	443
Financial assets	6	608	517
Other non-current assets		303	298
Total non-current assets		23,731	23,967
Current assets
Inventories		2,332	2,322
Trade receivables		1,829	1,770
Income tax receivables		20	34
Cash and cash equivalents		1,372	1,094
Other current assets		434	427
Total current assets		5,987	5,647
Total assets		29,718	29,614

Equity and liabilities
Equity
Share capital		20	20

Reserves		20,921	20,604
Total equity		20,941	20,624
Liabilities
Non-current liabilities
Financial debts	5	4,550	4,676
Lease liabilities		332	335
Deferred tax liabilities		792	797
Provisions & other non-current liabilities		763	784
Total non-current liabilities		6,437	6,592
Current liabilities
Trade payables		868	811
Financial debts	5	137	63
Lease liabilities		71	71
Current income tax liabilities		187	114
Provisions & other current liabilities		1,077	1,339
Total current liabilities		2,340	2,398
Total liabilities		8,777	8,990
Total equity and liabilities		29,718	29,614

The accompanying Notes form an integral part of the Condensed Consolidated Interim Financial Statements.

Consolidated Statement of Changes in Equity (unaudited)

Six months ended June 30, 2024


($ millions)	Share capital	Other reserves	Fair value adjustments on equity investments	Actuarial gains from defined benefit plans	Cumulative currency translation effects	Total value adjustments(1)	Equity








Balance as of January 1, 2024	20	20,624	(32)	37	(25)	(20)	20,624
Net income		471				—	471
Other comprehensive income/(loss)			5	19	(74)	(50)	(50)
Total comprehensive income	—	471	5	19	(74)	(50)	421
Dividends		(131)				—	(131)
Equity-based compensation		29				—	29
Other movements(2)		(2)				—	(2)
Total other movements	—	(104)	—	—	—	—	(104)
Balance as of June 30, 2024	20	20,991	(27)	56	(99)	(70)	20,941

Six months ended June 30, 2023


($ millions)	Share capital	Other reserves	Fair value adjustments on equity investments	Actuarial gains/(losses) from defined benefit plans	Cumulative currency translation effects	Total value adjustments(1)	Equity
Balance as of January 1, 2023	20	19,673	(33)	67	(50)	(16)	19,677
Net income		343				—	343
Other comprehensive income/(loss)			2	(7)	9	4	4
Total comprehensive income	—	343	2	(7)	9	4	347
Dividends		(117)				—	(117)
Equity-based compensation		23				—	23
Other movements(2)		9				—	9
Total other movements	—	(85)	—	—	—	—	(85)
Balance as of June 30, 2023	20	19,931	(31)	60	(41)	(12)	19,939

(1) "Total value adjustments" are presented net of the corresponding tax effects.

(2)Activity includes hyperinflationary accounting.

The accompanying Notes form an integral part of the Condensed Consolidated Interim Financial Statements.

Consolidated Statement of Cash Flows (unaudited)


		Six months ended June 30
($ millions)	Note	2024	2023

Net income		471	343
Adjustments to reconcile net income to net cash flows from operating activities
Depreciation, amortization, impairments and fair value adjustments	7.1	606	603
Equity-based compensation expense		77	74
Non-cash change in current and non-current provisions and other non-current liabilities		33	49
Losses on disposal and other adjustments on property, plant & equipment and other non-current assets, net		3	14
Interest expense		95	95
Other financial income & expense		(24)	17

Taxes		144	83
Interest received		31	15
Interest paid		(99)	(94)
Other financial payments		(5)	(4)
Taxes paid		(87)	(151)
Net cash flows before working capital changes and net payments out of provisions and other non-current liabilities		1,245	1,044
Net payments out of provisions and other cash movements in non-current liabilities		(58)	(214)
Change in net current assets and other operating cash flow items	7.2	(316)	(420)
Net cash flows from operating activities		871	410
Purchase of property, plant & equipment		(204)	(221)

Purchase of intangible assets		(59)	(132)

Payments for financial assets		(97)	(216)
Proceeds from financial assets		9	1




Net cash flows used in investing activities		(351)	(568)
Dividends paid to shareholders of Alcon Inc.	3	(130)	(116)
Repayment of current portion of non-current financial debts		(9)	(34)
Proceeds from current financial debts		39	40
Repayment of current financial debts		(38)	—
Proceeds from non-current financial debts, net of issuance costs		—	29




Other changes in financial debts		(7)	4
Lease payments		(43)	(38)
Payment of withholding taxes related to equity-based compensation		(42)	(43)
Other financing cash flows		(7)	(8)
Net cash flows used in financing activities		(237)	(166)
Effect of exchange rate changes on cash and cash equivalents		(5)	5
Net change in cash and cash equivalents		278	(319)
Cash and cash equivalents at January 1		1,094	980
Cash and cash equivalents at June 30		1,372	661

The accompanying Notes form an integral part of the Condensed Consolidated Interim Financial Statements.

NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS OF ALCON INC. (unaudited)

1. 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, 2023 Consolidated Financial Statements in the Company’s 2023 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 International Financial Reporting Standards ("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, 2023, which have been prepared in accordance with IFRS as issued by the IASB ("IFRS Accounting Standards") 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 Accounting Standards. 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 ("IPR&D") 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.

Impact of adopting Amendments to International Accounting Standards 1

Effective January 1, 2024, Alcon adopted Amendments to International Accounting Standards 1 ("IAS 1"), Presentation of Financial Statements, which clarified the criteria used in determining the classification on the balance sheet of a liability as non-current where an entity has the right to postpone settlement of the liability for at least twelve months after the reporting date. Upon adoption of the amendment, current financial debts of $82 million for which Alcon has a right to roll over for at least twelve months after the December 31, 2023 balance sheet date were retrospectively reclassified to non-current financial debts.

New standards, interpretations and amendments not yet adopted

In April 2024, the IASB issued IFRS 18, Presentation and Disclosure in Financial Statements, which will replace IAS 1, Presentation of Financial Statements and accompanies limited amendments to other standards which will be effective upon the adoption of the new standard. IFRS 18 will be retroactively effective for our annual reporting periods beginning on January 1, 2027, with early adoption permitted. The standard is expected to improve comparability and transparency of financial statements by requiring defined subtotals in the Consolidated Income Statement, requiring disclosure of management-defined performance measures and adding new principles for aggregation and disaggregation of information. Alcon is currently evaluating the impact of this standard on its Consolidated Financial Statements.

Other than previously described, as of June 30, 2024 there are no IFRS Accounting Standards, interpretations or amendments not yet effective that would be expected to have a material impact on Alcon upon adoption.

2. 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, acquisition and integration related costs, certain acquisition related items 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)	2024	2023	2024	2023
Surgical
Implantables	464	437	897	864
Consumables	736	714	1,422	1,370
Equipment/other	223	231	442	452
Total Surgical net sales to third parties	1,423	1,382	2,761	2,686
Vision Care
Contact lenses	636	594	1,307	1,209
Ocular health	423	426	858	840
Total Vision Care net sales to third parties	1,059	1,020	2,165	2,049
Total net sales to third parties	2,482	2,402	4,926	4,735
Vision Care other revenues	14	20	29	39
Total net sales and other revenues	2,496	2,422	4,955	4,774

Segment contribution and reconciliation to income before taxes


	Three months ended June 30		Six months ended June 30
($ millions)	2024	2023	2024	2023
Segment contribution
Surgical	403	407	789	788
Vision Care	180	174	438	373
Total segment contribution	583	581	1,227	1,161
Not allocated to segments:
Amortization of intangible assets	(184)	(187)	(367)	(377)
Impairment charges on intangible assets	(9)	—	(9)	—
General & administration (corporate)	(73)	(74)	(148)	(142)

Transformation costs	—	(26)	—	(52)


Integration related costs	—	(8)	—	(14)

Other	1	(16)	(17)	(38)
Operating income	318	270	686	538
Interest expense	(50)	(48)	(95)	(95)
Other financial income & expense	12	(9)	24	(17)
Income before taxes	280	213	615	426

Net sales by region(1)


	Three months ended June 30						Six months ended June 30
($ millions unless indicated otherwise)	2024			2023			2024			2023
United States	1,141	46	%	1,105	46	%	2,290	46	%	2,183	46	%
International	1,341	54	%	1,297	54	%	2,636	54	%	2,552	54	%
Net sales to third parties	2,482	100	%	2,402	100	%	4,926	100	%	4,735	100	%

(1) Net sales to third parties by location of third-party customer.

3. Dividends and earnings per share

Dividends

On February 27, 2024, the Company's Board of Directors (the "Board") proposed a dividend of CHF 0.24 per share, which was subsequently approved by the shareholders at the Annual General Meeting on May 8, 2024 and paid in May 2024 for an amount of $130 million.

On February 27, 2023, 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.

Earnings per share

As of June 30, 2024, there were 494.5 million outstanding common shares, after the delivery of 1.2 million net shares vesting under the equity incentive programs during the six months ended June 30, 2024.

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, 2024, the weighted average number of shares outstanding was 494.5 million and 494.1 million, respectively. 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.

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. For the three and six months ended June 30, 2024, the weighted average diluted number of shares outstanding was 497.0 million and 496.7 million, respectively, which includes the potential conversion of 2.5 million and 2.6 million unvested equity-based awards, respectively. For the three and six months ended June 30, 2023, the weighted average diluted number of shares outstanding was 495.7 million and 495.9 million, respectively, which includes the potential conversion of 2.5 million and 3.1 million unvested equity-based awards, respectively.

4. Intangible assets other than goodwill

Intangible asset impairment charges

Impairment charges during the three and six months ended June 30, 2024 amounted to $9 million recognized in Research & development in the Condensed Consolidated Income Statement due to the full impairment of an acquired IPR&D cash generating unit in the Surgical reportable segment due to discontinuation of the project. There were no impairment charges during the three or six months ended June 30, 2023.

5. Non-current and current financial debts

The below table summarizes non-current and current Financial debts outstanding as of June 30, 2024 and December 31, 2023.


($ millions)	June 30, 2024	December 31, 2023
Non-current financial debts
Local facilities (Japan), floating rate debt due 2025(1)	—	110
2.750% Series 2026 Notes	498	498
2.375% Series 2028 Notes	531	549
3.000% Series 2029 Notes	995	994
2.600% Series 2030 Notes	746	746
5.375% Series 2032 Notes	693	693
3.800% Series 2049 Notes	495	494
5.750% Series 2052 Notes	592	592
Revolving facility, floating rate due 2028	—	—
Total non-current financial debts	4,550	4,676

Current financial debts
Local facilities, floating rate:
Japan(1)	74	—
All others	50	48
Other short-term financial debts, floating rate	12	5
Derivatives	1	10
Total current financial debts	137	63
Total financial debts	4,687	4,739

(1) As described in Note 1, Alcon adopted Amendments to IAS 1, Presentation of Financial Statements, effective January 1, 2024, resulting in retrospective reclassification of certain financial debts from current to non-current.

Interest expense recognized for Financial debts, excluding lease liabilities, was $43 million and $83 million for the three and six months ended June 30, 2024, respectively, and $40 million and $81 million for the three and six months ended June 30, 2023, respectively.

Revolving credit facility

The $1.32 billion Revolving Credit Facility remained undrawn as of June 30, 2024.

6. 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 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, 2024 and December 31, 2023.


	June 30, 2024
($ millions)	Level 1	Level 2	Level 3	Valued at amortized cost or cost(4)	Total
Non-current financial assets
Long-term financial investments measured at FVOCI(1)	—	—	243	—	243
Long-term financial investments measured at FVPL	—	—	1	—	1
Long-term note receivable and other financial assets measured at amortized cost	—	—	—	168	168
Long-term receivables from customers	—	—	—	118	118
Deferred compensation assets(2)	172	—	—	—	172
Non-current minimum lease payments from finance lease agreements	—	—	—	35	35
Long-term loans, VAT receivables, advances and security deposits	—	—	—	43	43
Non-current financial assets	172	—	244	364	780
Current financial assets
Money market funds	237	—	—	—	237

Current portion of long-term financial investments measured at FVPL(3)	—	—	2	—	2
Current portion of long-term receivables from customers(3)	—	—	—	115	115
Current portion of minimum lease payments from finance lease agreements(3)	—	—	—	27	27
VAT receivables(3)	—	—	—	61	61
Other receivables, security deposits and current assets(3)	—	—	—	98	98
Derivative financial instruments(3)	—	11	—	—	11
Current financial assets	237	11	2	301	551
Financial assets at fair value and amortized cost or cost	409	11	246	665	1,331
Financial liabilities
Contingent consideration liabilities	—	—	(94)	—	(94)
Non-current financial debt	—	—	—	(4,550)	(4,550)
Current financial debt	—	—	—	(136)	(136)
Derivative financial instruments	—	(1)	—	—	(1)
Financial liabilities at fair value and amortized cost	—	(1)	(94)	(4,686)	(4,781)

(1) Includes $11 million of Long-term convertible notes due from an associated company.

(2) Recorded in Other non-current assets.

(3) Recorded in Other current assets.

(4) 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 $4,232 million and a carrying value of $4,550 million as of June 30, 2024. 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, 2023
($ millions)	Level 1	Level 2	Level 3	Valued at amortized cost or cost(4)	Total
Non-current financial assets
Long-term financial investments measured at FVOCI(1)	—	—	147	—	147
Long-term financial investments measured at FVPL	—	—	1	—	1
Long-term note receivable and other financial assets measured at amortized cost	—	—	—	161	161
Long-term receivables from customers	—	—	—	126	126
Deferred compensation assets(2)	163	—	—	—	163
Non-current minimum lease payments from finance lease agreements	—	—	—	38	38
Long-term loans, VAT receivables, advances and security deposits	—	—	—	44	44
Non-current financial assets	163	—	148	369	680
Current financial assets
Money market funds	84	—	—	—	84

Current portion of long-term financial investments measured at FVPL(3)	—	—	7	—	7
Current portion of long-term receivables from customers(3)	—	—	—	116	116
Current portion of minimum lease payments from finance lease agreements(3)	—	—	—	27	27
VAT receivables(3)	—	—	—	62	62
Other receivables, security deposits and current assets(3)	—	—	—	101	101
Derivative financial instruments(3)	—	2	—	—	2
Current financial assets	84	2	7	306	399
Financial assets at fair value and amortized cost or cost	247	2	155	675	1,079
Financial liabilities
Contingent consideration liabilities	—	—	(90)	—	(90)
Non-current financial debt	—	—	—	(4,676)	(4,676)
Current financial debt	—	—	—	(53)	(53)
Derivative financial instruments	—	(10)	—	—	(10)
Financial liabilities at fair value and amortized cost	—	(10)	(90)	(4,729)	(4,829)

(1) Includes $11 million of Long-term convertible notes due from an associated company.

(2) Recorded in Other non-current assets.

(3) Recorded in Other current assets.

(4) 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 $4,347 million and a carrying value of $4,566 million as of December 31, 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.

The carrying amount is a reasonable approximation of fair value for all other financial assets and liabilities as of June 30, 2024, 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, 2024.

Level 3 financial instruments measured at fair value on a recurring basis

Financial assets


	Long-term financial investments measured at FVOCI		Financial investments measured at FVPL
($ millions)	2024	2023	2024	2023
Balance as of January 1	147	88	8	20
Additions	90	53	—	8

Gains recognized in Consolidated Statement of Comprehensive Income	6	2	—	—
Gains/(losses) in Consolidated Income Statement	—	—	2	(4)
Amortization	—	—	(2)	(1)
Settlement	—	—	(5)	—
Balance as of June 30	243	143	3	23

Financial liabilities


	Contingent consideration liabilities
($ millions)	2024	2023
Balance as of January 1	(90)	(98)

Accretion for passage of time	(4)	(4)


Balance as of June 30	(94)	(102)

As of June 30, 2024, the probability of success for various development and commercial milestones ranges from 3% to 55% 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.

Contingent consideration liabilities are reported in “Provisions & other non-current liabilities" based on the projected timing of settlement which is estimated to range from 2029 through 2035 for contingent consideration obligations as of June 30, 2024.

Long-term note receivable and other financial assets measured at amortized cost

As described in Note 17 to the Consolidated Financial Statements in the Form 20-F, on May 22, 2023, Alcon entered into financing arrangements with a long-term supplier, Lifecore Biomedical, Inc. and certain of its affiliates (collectively, “Lifecore”) resulting in financial assets which Alcon concluded were originated credit-impaired. The maximum exposure to credit risk is reflected in the carrying value of the assets, which amounted to $169 million as of June 30, 2024, including a non-current portion of $168 million in "Long-term note receivable and other financial assets measured at amortized cost" in Financial assets and a current portion of $1 million in "Other receivables, security deposits and current assets" in Other current assets. As of June 30, 2024, in accordance with the terms of the Pledge and Security agreement (“security agreement”), the credit risk exposure is fully mitigated by the collateral, with an estimated amount of approximately $320 million. The estimated amount of collateral decreased approximately 15% from December 31, 2023 based on updated forecasts reflecting recent market data and discounted cash flow analysis. There have been no significant changes in the quality of the collateral, the terms of the signed security agreement or the credit monitoring procedures described in Note 17 to the Consolidated Financial Statements in the Form 20-F. In addition, as of June 30, 2024, Alcon assessed there was no lifetime expected credit loss due to the value of the collateral under the security agreement.

Derivatives

The below table summarizes the net value of unsettled positions for currency derivatives contracts including swaps, forwards and options as of June 30, 2024 and December 31, 2023.


($ millions)	June 30, 2024	December 31, 2023

Unrealized gains in Other current assets	11	2
Unrealized losses in Current financial debts	(1)	(10)

Net value of unsettled positions for derivatives contracts	10	(8)

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, 2024 or December 31, 2023.

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. There have been no significant updates to our assessment of the nature and extent of risks arising from financial instruments or corresponding risk management policies during the period.

7. 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)	2024	2023

Property, plant & equipment	191	182
Right-of-use assets	40	40
Intangible assets	376	377
Financial assets	—	5
Other non-current assets	(1)	(1)
Total	606	603

7.2 Change in net current assets and other operating cash flow items


	Six months ended June 30
($ millions)	2024	2023

(Increase) in inventories	(71)	(198)
(Increase) in trade receivables	(116)	(138)
Increase in trade payables	72	36
Net change in other operating assets	(3)	(44)
Net change in other operating liabilities	(198)	(76)
Total	(316)	(420)

8. 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, 2024 and 2023:


	Six months ended June 30
(shares in millions)	2024	2023
Unvested at January 1	4.9	4.8
Granted	2.2	2.2
Vested	(1.7)	(1.8)
Forfeited	(0.1)	(0.1)
Unvested at June 30	5.3	5.1

9. 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. As of August 20, 2024, Alcon has fully and finally resolved the patent infringement claims it brought against the remaining defendants in the Hatch-Waxman litigation concerning Rocklatan and Rhopressa. There have been no other significant developments in the proceedings described in the Form 20-F nor any new significant proceedings commenced since the date of the Form 20-F.

Alcon believes that its total provisions for litigation and other 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.

10. Related parties transactions

Investment in an associated company

As described in Note 24 to the Consolidated Financial Statements in the Form 20-F, Alcon holds approximately 8.5% voting interest of an associated company. The carrying amount of the investment in the associated company was $10 million as of June 30, 2024 and December 31, 2023. Long-term convertible notes due from the associated company included in Financial assets on the Condensed Consolidated Balance Sheet amounted to $11 million as of June 30, 2024 and December 31, 2023.

11. Subsequent events

On August 12, 2024, Alcon entered into a set of definitive agreements with Ocumension Therapeutics (Hong Kong) Limited (“Ocumension”), subject to customary closing conditions. Under the terms of the agreements, Alcon will divest its rights in China in favor of Ocumension to Bion Tears and Tears Naturale (reported in Vision Care segment) and procedural eye drops (reported in Surgical segment). Ocumension will also license the exclusive commercialization rights to Systane Ultra in China and development and commercialization rights to AR-15512 in China. In exchange, Alcon will receive up-front consideration in the form of approximately 16.7% of the ordinary shares of Ocumension. Alcon will also receive royalties and defined AR-15512 sales milestones. The transaction is expected to close in the fourth quarter of 2024.

These unaudited Condensed Consolidated Interim Financial Statements were authorized for issue by the Audit & Risk Committee on August 20, 2024.

SUPPLEMENTARY INFORMATION - DEFINITIONS AND RECONCILIATIONS OF NON-IFRS MEASURES

Non-IFRS measures as defined by the Company

Core results

Constant currencies

Constant currency calculations have the goal of eliminating two exchange rate effects so that an estimate can be made of underlying changes in the Consolidated Income Statement excluding:

•the impact of translating the income statements of consolidated entities from their non-US dollar functional currencies to the US dollar; and

•the impact of exchange rate movements on the major transactions of consolidated entities performed in currencies other than their functional currency.

EBITDA

Alcon defines earnings before interest, tax, depreciation and amortization ("EBITDA") as net income excluding income taxes, depreciation of property, plant and equipment (including any related impairment charges), depreciation of right-of-use assets, amortization of intangible assets (including any related impairment charges), interest expense and other financial income and expense. Alcon management primarily uses EBITDA together with net (debt)/liquidity to monitor leverage associated with financial debts.

Free cash flow

Net (debt)/liquidity

Alcon defines net (debt)/liquidity as current and non-current financial debt less cash and cash equivalents, current investments and derivative financial instruments. Net (debt)/liquidity is presented as additional information because management believes it is a useful supplemental indicator of Alcon's ability to pay dividends, to meet financial commitments and to invest in new strategic opportunities, including strengthening its balance sheet.

Growth rate and margin calculations

For ease of understanding, Alcon uses a sign convention for its growth rates such that a reduction in operating expenses or losses compared to the prior year is shown as a positive growth.

Gross margins, operating income margins and core operating income margins are calculated based upon net sales to third parties unless otherwise noted.

Reconciliation of IFRS results to core results (non-IFRS measure)

Three months ended June 30, 2024


($ millions except earnings per share)	IFRS results	Amortization of certain intangible assets(1)	Impairments(2)	Other items(4)	Core results (non-IFRS measure)
Gross profit	1,374	165	—	—	1,539
Operating income	318	165	9	(1)	491
Income before taxes	280	165	9	(1)	453
Taxes(5)	(57)	(30)	—	1	(86)
Net income	223	135	9	—	367
Basic earnings per share ($)	0.45				0.74
Diluted earnings per share ($)	0.45				0.74
Basic - weighted average shares outstanding (millions)(6)	494.5				494.5
Diluted - weighted average shares outstanding (millions)(6)	497.0				497.0

Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.

Three months ended June 30, 2023


($ millions except earnings per share)	IFRS results	Amortization of certain intangible assets(1)	Transformation costs(3)	Other items(4)	Core results (non-IFRS measure)
Gross profit	1,363	164	—	5	1,532
Operating income	270	168	26	15	479
Income before taxes	213	168	26	15	422
Taxes(5)	(44)	(30)	(4)	(3)	(81)
Net income	169	138	22	12	341
Basic earnings per share ($)	0.34				0.69
Diluted earnings per share ($)	0.34				0.69
Basic - weighted average shares outstanding (millions)(6)	493.2				493.2
Diluted - weighted average shares outstanding (millions)(6)	495.7				495.7

Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.

Six months ended June 30, 2024


($ millions except earnings per share)	IFRS results	Amortization of certain intangible assets(1)	Impairments(2)	Other items(4)	Core results (non-IFRS measure)
Gross profit	2,756	329	—	3	3,088
Operating income	686	331	9	2	1,028
Income before taxes	615	331	9	2	957
Taxes(5)	(144)	(59)	—	—	(203)
Net income	471	272	9	2	754
Basic earnings per share ($)	0.95				1.53
Diluted earnings per share ($)	0.95				1.52
Basic - weighted average shares outstanding (millions)(6)	494.1				494.1
Diluted - weighted average shares outstanding (millions)(6)	496.7				496.7

Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.

Six months ended June 30, 2023


($ millions except earnings per share)	IFRS results	Amortization of certain intangible assets(1)	Transformation costs(3)	Other items(4)	Core results (non-IFRS measure)
Gross profit	2,668	333	—	9	3,010
Operating income	538	341	52	28	959
Income before taxes	426	341	52	28	847
Taxes(5)	(83)	(61)	(9)	(6)	(159)
Net income	343	280	43	22	688
Basic earnings per share ($)	0.70				1.40
Diluted earnings per share ($)	0.69				1.39
Basic - weighted average shares outstanding (millions)(6)	492.8				492.8
Diluted - weighted average shares outstanding (millions)(6)	495.9				495.9

Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.

Explanatory footnotes to IFRS to core reconciliation tables

(1) Includes recurring amortization for all intangible assets other than software.

(2) Includes impairment charges related to intangible assets.

(4) For the three months ended June 30, 2024, Operating income includes fair value adjustments of financial assets, partially offset by the amortization of option rights.

(5) For the three months ended June 30, 2024, tax associated with operating income core adjustments of $173 million totaled $29 million with an average tax rate of 16.8%.

For the three months ended June 30, 2023, tax associated with operating income core adjustments of $209 million totaled $37 million with an average tax rate of 17.7%.

For the six months ended June 30, 2024, tax associated with operating income core adjustments of $342 million totaled $59 million with an average tax rate of 17.3%.

For the six months ended June 30, 2023, tax associated with operating income core adjustments of $421 million totaled $76 million with an average tax rate of 18.1%.

EBITDA (non-IFRS measure)


	Three months ended June 30		Six months ended June 30
($ millions)	2024	2023	2024	2023

Net income	223	169	471	343
Taxes	57	44	144	83
Depreciation of property, plant & equipment	97	92	191	182
Depreciation of right-of-use assets	20	20	40	40
Amortization of intangible assets	184	187	367	377
Impairments of property, plant & equipment and intangible assets	9	—	9	—
Interest expense	50	48	95	95
Other financial income & expense	(12)	9	(24)	17
EBITDA	628	569	1,293	1,137

Cash flow and net (debt)/liquidity (non-IFRS measure)


	Six months ended June 30
($ millions)	2024	2023

Net cash flows from operating activities	871	410
Net cash flows used in investing activities	(351)	(568)
Net cash flows used in financing activities	(237)	(166)
Effect of exchange rate changes on cash and cash equivalents	(5)	5
Net change in cash and cash equivalents	278	(319)
Change in derivative financial instrument assets	9	6

Change in current and non-current financial debts	52	(33)
Change in net (debt)	339	(346)
Net (debt) at January 1	(3,643)	(3,660)
Net (debt) at June 30	(3,304)	(4,006)

Net (debt)/liquidity (non-IFRS measure)


($ millions)	At June 30, 2024	At December 31, 2023

Current financial debt	(137)	(63)
Non-current financial debt	(4,550)	(4,676)
Total financial debt	(4,687)	(4,739)

Less liquidity:
Cash and cash equivalents	1,372	1,094

Derivative financial instruments	11	2
Total liquidity	1,383	1,096
Net (debt)	(3,304)	(3,643)

Free cash flow (non-IFRS measure)


	Six months ended June 30
($ millions)	2024	2023

Net cash flows from operating activities	871	410
Purchase of property, plant & equipment	(204)	(221)

Free cash flow	667	189

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This document contains, and our officers and representatives may from time to time make, certain “forward-looking statements” within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,” “seek,” “target,” “assume,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our liquidity, revenue, gross margin, operating margin, effective tax rate, foreign currency exchange movements, earnings per share, our plans and decisions relating to various capital expenditures, capital allocation priorities and other discretionary items such as market growth assumptions, our social impact and sustainability plans, targets, goals and expectations, and generally, our expectations concerning our future performance.

INTELLECTUAL PROPERTY

This report may contain reference to our proprietary intellectual property. All product names appearing in italics are trademarks owned by or licensed to Alcon Inc. Product names identified by a "®" or a "™" are trademarks that are not owned by or licensed to Alcon or its subsidiaries and are the property of their respective owners.

ABOUT ALCON

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Cover	6 Months Ended
Cover	Jun. 30, 2024
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, 2024
Entity Central Index Key	0001167379
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

Consolidated Income Statement (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Profit or loss [abstract]
Net sales to third parties	$ 2,482	$ 2,402	$ 4,926	$ 4,735
Other revenues	14	20	29	39
Net sales and other revenues	2,496	2,422	4,955	4,774
Cost of net sales	(1,108)	(1,040)	(2,171)	(2,070)
Cost of other revenues	(14)	(19)	(28)	(36)
Gross profit	1,374	1,363	2,756	2,668
Selling, general & administration	(837)	(832)	(1,639)	(1,617)
Research & development	(220)	(217)	(419)	(419)
Other income	5	5	11	10
Other expense	(4)	(49)	(23)	(104)
Operating income	318	270	686	538
Interest expense	(50)	(48)	(95)	(95)
Other financial income & expense	12	(9)	24	(17)
Income before taxes	280	213	615	426
Taxes	(57)	(44)	(144)	(83)
Net income	$ 223	$ 169	$ 471	$ 343
Earnings per share
Basic (in dollars per share)	$ 0.45	$ 0.34	$ 0.95	$ 0.70
Diluted (in dollars per share)	$ 0.45	$ 0.34	$ 0.95	$ 0.69
Weighted average number of shares outstanding
Basic (in shares)	494.5	493.2	494.1	492.8
Diluted (in shares)	497.0	495.7	496.7	495.9

Consolidated Statement of Comprehensive Income (unaudited) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Statement of comprehensive income [abstract]

Net income

$ 223

$ 169

$ 471

$ 343

Other comprehensive income to be eventually recycled into the Consolidated Income Statement:

Currency translation effects, net of taxes

^[1]

(22)

(18)

(74)

Total of items to eventually recycle

(22)

(18)

(74)

Other comprehensive income never to be recycled into the Consolidated Income Statement:

Actuarial gains/(losses) from defined benefit plans, net of taxes

^[2]

(7)

Fair value adjustments on equity securities, net of taxes

^[3]

Total of items never to be recycled

(5)

Total comprehensive income

$ 210

$ 153

$ 421

$ 347

[1]	Amount is net of tax expense of $1 million for the three months ended June 30, 2024. Amount is net of tax benefit of $1 million for the three months ended June 30, 2023. Amount is net of tax expense of $0.5 million for the six months ended June 30, 2024. Amount is net of tax benefit of $1 million for the six months ended June 30, 2023.
[2]	Amounts are net of tax expense of $2 million and $0.4 million for the three months ended June 30, 2024 and 2023, respectively. Amount is net of tax expense of $6 million for the six months ended June 30, 2024. Amount is net of tax benefit of $2 million for the six months ended June 30, 2023.
[3]	Amounts are net of tax expense of $0.9 million and $0.4 million for the three months ended June 30, 2024 and 2023, respectively. Amounts are net of tax expense of $1 million and $0.8 million for the six months ended June 30, 2024 and 2023, respectively.

Consolidated Statement of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of comprehensive income [abstract]
Currency translation effects, tax (benefit) expense	$ 1.0	$ (1.0)	$ 0.5	$ (1.0)
Actuarial gains/(losses) from defined benefit plans, tax expense (benefit)	2.0	0.4	6.0	(2.0)
Fair value adjustments on equity securities, tax expense	$ 0.9	$ 0.4	$ 1.0	$ 0.8

Consolidated Balance Sheet (unaudited) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Non-current assets
Property, plant & equipment	$ 4,330	$ 4,369
Right-of-use assets	356	354
Goodwill	8,926	8,926
Intangible assets other than goodwill	8,760	9,060
Deferred tax assets	448	443
Financial assets	608	517
Other non-current assets	303	298
Total non-current assets	23,731	23,967
Current assets
Inventories	2,332	2,322
Trade receivables	1,829	1,770
Income tax receivables	20	34
Cash and cash equivalents	1,372	1,094
Other current assets	434	427
Total current assets	5,987	5,647
Total assets	29,718	29,614
Equity
Share capital	20	20
Reserves	20,921	20,604
Total equity	20,941	20,624
Non-current liabilities
Financial debts	4,550	4,676
Lease liabilities	332	335
Deferred tax liabilities	792	797
Provisions & other non-current liabilities	763	784
Total non-current liabilities	6,437	6,592
Current liabilities
Trade payables	868	811
Financial debts	137	63
Lease liabilities	71	71
Current income tax liabilities	187	114
Provisions & other current liabilities	1,077	1,339
Total current liabilities	2,340	2,398
Total liabilities	8,777	8,990
Total equity and liabilities	$ 29,718	$ 29,614

Consolidated Statement of Changes in Equity (unaudited) - USD ($)
$ in Millions

Total

Share capital

Other reserves

Fair value adjustments on equity investments

Actuarial gains from defined benefit plans

Cumulative currency translation effects

Total value adjustments

^[1]

Beginning balance at Dec. 31, 2022

$ 19,677

$ 20

$ 19,673

$ (33)

$ 67

$ (50)

$ (16)

Net income

343

Other comprehensive income/(loss)

(7)

Total comprehensive income

347

343

(7)

Dividends

(117)

Equity-based compensation

Other movements

^[2]

Total other movements

(85)

Ending balance at Jun. 30, 2023

19,939

19,931

(31)

(41)

(12)

Beginning balance at Dec. 31, 2023

20,624

(32)

(25)

(20)

Net income

471

Other comprehensive income/(loss)

(50)

(74)

(50)

Total comprehensive income

421

471

(74)

(50)

Dividends

(131)

Equity-based compensation

Other movements

^[2]

(2)

Total other movements

(104)

Ending balance at Jun. 30, 2024

$ 20,941

$ 20

$ 20,991

$ (27)

$ 56

$ (99)

$ (70)

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

Consolidated Statement of Cash Flows (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of cash flows [abstract]
Net income	$ 471	$ 343
Adjustments to reconcile net income to net cash flows from operating activities
Depreciation, amortization, impairments and fair value adjustments	606	603
Equity-based compensation expense	77	74
Non-cash change in current and non-current provisions and other non-current liabilities	33	49
Losses on disposal and other adjustments on property, plant & equipment and other non-current assets, net	3	14
Interest expense	95	95
Other financial income & expense	(24)	17
Taxes	144	83
Interest received	31	15
Interest paid	(99)	(94)
Other financial payments	(5)	(4)
Taxes paid	(87)	(151)
Net cash flows before working capital changes and net payments out of provisions and other non-current liabilities	1,245	1,044
Net payments out of provisions and other cash movements in non-current liabilities	(58)	(214)
Change in net current assets and other operating cash flow items	(316)	(420)
Net cash flows from operating activities	871	410
Purchase of property, plant & equipment	(204)	(221)
Purchase of intangible assets	(59)	(132)
Payments for financial assets	(97)	(216)
Proceeds from financial assets	9	1
Net cash flows used in investing activities	(351)	(568)
Dividends paid to shareholders of Alcon Inc.	(130)	(116)
Repayment of current portion of non-current financial debts	(9)	(34)
Proceeds from current financial debts	39	40
Repayment of current financial debts	(38)	0
Proceeds from non-current financial debts, net of issuance costs	0	29
Other changes in financial debts	(7)	4
Lease payments	(43)	(38)
Payment of withholding taxes related to equity-based compensation	(42)	(43)
Other financing cash flows	(7)	(8)
Net cash flows used in financing activities	(237)	(166)
Effect of exchange rate changes on cash and cash equivalents	(5)	5
Net change in cash and cash equivalents	278	(319)
Cash and cash equivalents at January 1	1,094	980
Cash and cash equivalents at June 30	$ 1,372	$ 661

Selected accounting policies	6 Months Ended
Selected accounting policies	Jun. 30, 2024
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, 2023 Consolidated Financial Statements in the Company’s 2023 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 International Financial Reporting Standards ("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, 2023, which have been prepared in accordance with IFRS as issued by the IASB ("IFRS Accounting Standards") 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 Accounting Standards. 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 ("IPR&D") 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. Impact of adopting Amendments to International Accounting Standards 1 Effective January 1, 2024, Alcon adopted Amendments to International Accounting Standards 1 ("IAS 1"), Presentation of Financial Statements, which clarified the criteria used in determining the classification on the balance sheet of a liability as non-current where an entity has the right to postpone settlement of the liability for at least twelve months after the reporting date. Upon adoption of the amendment, current financial debts of $82 million for which Alcon has a right to roll over for at least twelve months after the December 31, 2023 balance sheet date were retrospectively reclassified to non-current financial debts. New standards, interpretations and amendments not yet adopted In April 2024, the IASB issued IFRS 18, Presentation and Disclosure in Financial Statements, which will replace IAS 1, Presentation of Financial Statements and accompanies limited amendments to other standards which will be effective upon the adoption of the new standard. IFRS 18 will be retroactively effective for our annual reporting periods beginning on January 1, 2027, with early adoption permitted. The standard is expected to improve comparability and transparency of financial statements by requiring defined subtotals in the Consolidated Income Statement, requiring disclosure of management-defined performance measures and adding new principles for aggregation and disaggregation of information. Alcon is currently evaluating the impact of this standard on its Consolidated Financial Statements. Other than previously described, as of June 30, 2024 there are no IFRS Accounting Standards, interpretations or amendments not yet effective that would be expected to have a material impact on Alcon upon adoption.

Segmentation of key figures

6 Months Ended

Jun. 30, 2024

Operating Segments [Abstract]

Segmentation of key figures

The Executive Committee of Alcon is responsible for allocating resources and assessing the performance of the reportable segments.

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.

General & administration (corporate) includes the costs of the Alcon corporate headquarters, including all related corporate function costs.

Net sales and other revenues by segment


	Three months ended June 30		Six months ended June 30
($ millions)	2024	2023	2024	2023
Surgical
Implantables	464	437	897	864
Consumables	736	714	1,422	1,370
Equipment/other	223	231	442	452
Total Surgical net sales to third parties	1,423	1,382	2,761	2,686
Vision Care
Contact lenses	636	594	1,307	1,209
Ocular health	423	426	858	840
Total Vision Care net sales to third parties	1,059	1,020	2,165	2,049
Total net sales to third parties	2,482	2,402	4,926	4,735
Vision Care other revenues	14	20	29	39
Total net sales and other revenues	2,496	2,422	4,955	4,774

Segment contribution and reconciliation to income before taxes


	Three months ended June 30		Six months ended June 30
($ millions)	2024	2023	2024	2023
Segment contribution
Surgical	403	407	789	788
Vision Care	180	174	438	373
Total segment contribution	583	581	1,227	1,161
Not allocated to segments:
Amortization of intangible assets	(184)	(187)	(367)	(377)
Impairment charges on intangible assets	(9)	—	(9)	—
General & administration (corporate)	(73)	(74)	(148)	(142)

Transformation costs	—	(26)	—	(52)


Integration related costs	—	(8)	—	(14)

Other	1	(16)	(17)	(38)
Operating income	318	270	686	538
Interest expense	(50)	(48)	(95)	(95)
Other financial income & expense	12	(9)	24	(17)
Income before taxes	280	213	615	426

Net sales by region(1)


	Three months ended June 30						Six months ended June 30
($ millions unless indicated otherwise)	2024			2023			2024			2023
United States	1,141	46	%	1,105	46	%	2,290	46	%	2,183	46	%
International	1,341	54	%	1,297	54	%	2,636	54	%	2,552	54	%
Net sales to third parties	2,482	100	%	2,402	100	%	4,926	100	%	4,735	100	%

(1) Net sales to third parties by location of third-party customer.

Dividends and earnings per share	6 Months Ended
Dividends and earnings per share	Jun. 30, 2024
Earnings per share [abstract]
Dividends and earnings per share	Dividends and earnings per share Dividends On February 27, 2024, the Company's Board of Directors (the "Board") proposed a dividend of CHF 0.24 per share, which was subsequently approved by the shareholders at the Annual General Meeting on May 8, 2024 and paid in May 2024 for an amount of $130 million. On February 27, 2023, 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. Earnings per share As of June 30, 2024, there were 494.5 million outstanding common shares, after the delivery of 1.2 million net shares vesting under the equity incentive programs during the six months ended June 30, 2024. 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, 2024, the weighted average number of shares outstanding was 494.5 million and 494.1 million, respectively. 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. 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. For the three and six months ended June 30, 2024, the weighted average diluted number of shares outstanding was 497.0 million and 496.7 million, respectively, which includes the potential conversion of 2.5 million and 2.6 million unvested equity-based awards, respectively. For the three and six months ended June 30, 2023, the weighted average diluted number of shares outstanding was 495.7 million and 495.9 million, respectively, which includes the potential conversion of 2.5 million and 3.1 million unvested equity-based awards, respectively.

Intangible assets other than goodwill	6 Months Ended
Intangible assets other than goodwill	Jun. 30, 2024
Disclosure of detailed information about intangible assets [abstract]
Intangible assets other than goodwill	Intangible assets other than goodwill Intangible asset impairment charges Impairment charges during the three and six months ended June 30, 2024 amounted to $9 million recognized in Research & development in the Condensed Consolidated Income Statement due to the full impairment of an acquired IPR&D cash generating unit in the Surgical reportable segment due to discontinuation of the project. There were no impairment charges during the three or six months ended June 30, 2023.

Non-current and current financial debts

6 Months Ended

Jun. 30, 2024

Disclosure Of Borrowings [Abstract]

Non-current and current financial debts

The below table summarizes non-current and current Financial debts outstanding as of June 30, 2024 and December 31, 2023.


($ millions)	June 30, 2024	December 31, 2023
Non-current financial debts
Local facilities (Japan), floating rate debt due 2025(1)	—	110
2.750% Series 2026 Notes	498	498
2.375% Series 2028 Notes	531	549
3.000% Series 2029 Notes	995	994
2.600% Series 2030 Notes	746	746
5.375% Series 2032 Notes	693	693
3.800% Series 2049 Notes	495	494
5.750% Series 2052 Notes	592	592
Revolving facility, floating rate due 2028	—	—
Total non-current financial debts	4,550	4,676

Current financial debts
Local facilities, floating rate:
Japan(1)	74	—
All others	50	48
Other short-term financial debts, floating rate	12	5
Derivatives	1	10
Total current financial debts	137	63
Total financial debts	4,687	4,739

Revolving credit facility

The $1.32 billion Revolving Credit Facility remained undrawn as of June 30, 2024.

Financial instruments

6 Months Ended

Jun. 30, 2024

Financial Instruments [Abstract]

Financial instruments

Fair value by hierarchy

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.

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, 2024 and December 31, 2023.


	June 30, 2024
($ millions)	Level 1	Level 2	Level 3	Valued at amortized cost or cost(4)	Total
Non-current financial assets
Long-term financial investments measured at FVOCI(1)	—	—	243	—	243
Long-term financial investments measured at FVPL	—	—	1	—	1
Long-term note receivable and other financial assets measured at amortized cost	—	—	—	168	168
Long-term receivables from customers	—	—	—	118	118
Deferred compensation assets(2)	172	—	—	—	172
Non-current minimum lease payments from finance lease agreements	—	—	—	35	35
Long-term loans, VAT receivables, advances and security deposits	—	—	—	43	43
Non-current financial assets	172	—	244	364	780
Current financial assets
Money market funds	237	—	—	—	237

Current portion of long-term financial investments measured at FVPL(3)	—	—	2	—	2
Current portion of long-term receivables from customers(3)	—	—	—	115	115
Current portion of minimum lease payments from finance lease agreements(3)	—	—	—	27	27
VAT receivables(3)	—	—	—	61	61
Other receivables, security deposits and current assets(3)	—	—	—	98	98
Derivative financial instruments(3)	—	11	—	—	11
Current financial assets	237	11	2	301	551
Financial assets at fair value and amortized cost or cost	409	11	246	665	1,331
Financial liabilities
Contingent consideration liabilities	—	—	(94)	—	(94)
Non-current financial debt	—	—	—	(4,550)	(4,550)
Current financial debt	—	—	—	(136)	(136)
Derivative financial instruments	—	(1)	—	—	(1)
Financial liabilities at fair value and amortized cost	—	(1)	(94)	(4,686)	(4,781)

(1) Includes $11 million of Long-term convertible notes due from an associated company.

(2) Recorded in Other non-current assets.

(3) Recorded in Other current assets.


	December 31, 2023
($ millions)	Level 1	Level 2	Level 3	Valued at amortized cost or cost(4)	Total
Non-current financial assets
Long-term financial investments measured at FVOCI(1)	—	—	147	—	147
Long-term financial investments measured at FVPL	—	—	1	—	1
Long-term note receivable and other financial assets measured at amortized cost	—	—	—	161	161
Long-term receivables from customers	—	—	—	126	126
Deferred compensation assets(2)	163	—	—	—	163
Non-current minimum lease payments from finance lease agreements	—	—	—	38	38
Long-term loans, VAT receivables, advances and security deposits	—	—	—	44	44
Non-current financial assets	163	—	148	369	680
Current financial assets
Money market funds	84	—	—	—	84

Current portion of long-term financial investments measured at FVPL(3)	—	—	7	—	7
Current portion of long-term receivables from customers(3)	—	—	—	116	116
Current portion of minimum lease payments from finance lease agreements(3)	—	—	—	27	27
VAT receivables(3)	—	—	—	62	62
Other receivables, security deposits and current assets(3)	—	—	—	101	101
Derivative financial instruments(3)	—	2	—	—	2
Current financial assets	84	2	7	306	399
Financial assets at fair value and amortized cost or cost	247	2	155	675	1,079
Financial liabilities
Contingent consideration liabilities	—	—	(90)	—	(90)
Non-current financial debt	—	—	—	(4,676)	(4,676)
Current financial debt	—	—	—	(53)	(53)
Derivative financial instruments	—	(10)	—	—	(10)
Financial liabilities at fair value and amortized cost	—	(10)	(90)	(4,729)	(4,829)

(1) Includes $11 million of Long-term convertible notes due from an associated company.

(2) Recorded in Other non-current assets.

(3) Recorded in Other current assets.

(4) 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 $4,347 million and a carrying value of $4,566 million as of December 31, 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.

There were no transfers of financial instruments between levels in the fair value hierarchy during the six months ended June 30, 2024.

Level 3 financial instruments measured at fair value on a recurring basis

Financial assets


	Long-term financial investments measured at FVOCI		Financial investments measured at FVPL
($ millions)	2024	2023	2024	2023
Balance as of January 1	147	88	8	20
Additions	90	53	—	8

Gains recognized in Consolidated Statement of Comprehensive Income	6	2	—	—
Gains/(losses) in Consolidated Income Statement	—	—	2	(4)
Amortization	—	—	(2)	(1)
Settlement	—	—	(5)	—
Balance as of June 30	243	143	3	23

Financial liabilities


	Contingent consideration liabilities
($ millions)	2024	2023
Balance as of January 1	(90)	(98)

Accretion for passage of time	(4)	(4)


Balance as of June 30	(94)	(102)

Long-term note receivable and other financial assets measured at amortized cost

Derivatives

The below table summarizes the net value of unsettled positions for currency derivatives contracts including swaps, forwards and options as of June 30, 2024 and December 31, 2023.


($ millions)	June 30, 2024	December 31, 2023

Unrealized gains in Other current assets	11	2
Unrealized losses in Current financial debts	(1)	(10)

Net value of unsettled positions for derivatives contracts	10	(8)

Nature and extent of risks arising from financial instruments

Condensed Consolidated Statements of Cash Flows - additional details

6 Months Ended

Jun. 30, 2024

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)	2024	2023

Property, plant & equipment	191	182
Right-of-use assets	40	40
Intangible assets	376	377
Financial assets	—	5
Other non-current assets	(1)	(1)
Total	606	603

7.2 Change in net current assets and other operating cash flow items


	Six months ended June 30
($ millions)	2024	2023

(Increase) in inventories	(71)	(198)
(Increase) in trade receivables	(116)	(138)
Increase in trade payables	72	36
Net change in other operating assets	(3)	(44)
Net change in other operating liabilities	(198)	(76)
Total	(316)	(420)

Equity-based compensation

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangements [Abstract]

Equity-based compensation

The below table summarizes unvested share movements for all Alcon equity-based incentive plans for the six months ended June 30, 2024 and 2023:


	Six months ended June 30
(shares in millions)	2024	2023
Unvested at January 1	4.9	4.8
Granted	2.2	2.2
Vested	(1.7)	(1.8)
Forfeited	(0.1)	(0.1)
Unvested at June 30	5.3	5.1

Legal proceedings update	6 Months Ended
Legal proceedings update	Jun. 30, 2024
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. As of August 20, 2024, Alcon has fully and finally resolved the patent infringement claims it brought against the remaining defendants in the Hatch-Waxman litigation concerning Rocklatan and Rhopressa. There have been no other significant developments in the proceedings described in the Form 20-F nor any new significant proceedings commenced since the date of the Form 20-F. Alcon believes that its total provisions for litigation and other 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.

Related parties transactions	6 Months Ended
Related parties transactions	Jun. 30, 2024
Related Party [Abstract]
Related parties transactions	Related parties transactions Investment in an associated company As described in Note 24 to the Consolidated Financial Statements in the Form 20-F, Alcon holds approximately 8.5% voting interest of an associated company. The carrying amount of the investment in the associated company was $10 million as of June 30, 2024 and December 31, 2023. Long-term convertible notes due from the associated company included in Financial assets on the Condensed Consolidated Balance Sheet amounted to $11 million as of June 30, 2024 and December 31, 2023.

Subsequent events	6 Months Ended
Subsequent events	Jun. 30, 2024
Events After Reporting Period [Abstract]
Subsequent events	Subsequent events On August 12, 2024, Alcon entered into a set of definitive agreements with Ocumension Therapeutics (Hong Kong) Limited (“Ocumension”), subject to customary closing conditions. Under the terms of the agreements, Alcon will divest its rights in China in favor of Ocumension to Bion Tears and Tears Naturale (reported in Vision Care segment) and procedural eye drops (reported in Surgical segment). Ocumension will also license the exclusive commercialization rights to Systane Ultra in China and development and commercialization rights to AR-15512 in China. In exchange, Alcon will receive up-front consideration in the form of approximately 16.7% of the ordinary shares of Ocumension. Alcon will also receive royalties and defined AR-15512 sales milestones. The transaction is expected to close in the fourth quarter of 2024. These unaudited Condensed Consolidated Interim Financial Statements were authorized for issue by the Audit & Risk Committee on August 20, 2024.

Selected accounting policies (Policies)	6 Months Ended
Selected accounting policies (Policies)	Jun. 30, 2024
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 Accounting Standards.
Use of estimates and assumptions	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	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 ("IPR&D") 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.
Impact of adopting Amendments to International Accounting Standards 1	Impact of adopting Amendments to International Accounting Standards 1 Effective January 1, 2024, Alcon adopted Amendments to International Accounting Standards 1 ("IAS 1"), Presentation of Financial Statements, which clarified the criteria used in determining the classification on the balance sheet of a liability as non-current where an entity has the right to postpone settlement of the liability for at least twelve months after the reporting date. Upon adoption of the amendment, current financial debts of $82 million for which Alcon has a right to roll over for at least twelve months after the December 31, 2023 balance sheet date were retrospectively reclassified to non-current financial debts.
New standards, interpretations and amendments not yet adopted	New standards, interpretations and amendments not yet adopted In April 2024, the IASB issued IFRS 18, Presentation and Disclosure in Financial Statements, which will replace IAS 1, Presentation of Financial Statements and accompanies limited amendments to other standards which will be effective upon the adoption of the new standard. IFRS 18 will be retroactively effective for our annual reporting periods beginning on January 1, 2027, with early adoption permitted. The standard is expected to improve comparability and transparency of financial statements by requiring defined subtotals in the Consolidated Income Statement, requiring disclosure of management-defined performance measures and adding new principles for aggregation and disaggregation of information. Alcon is currently evaluating the impact of this standard on its Consolidated Financial Statements. Other than previously described, as of June 30, 2024 there are no IFRS Accounting Standards, interpretations or amendments not yet effective that would be expected to have a material impact on Alcon upon adoption.

Segmentation of key figures (Tables)

6 Months Ended

Jun. 30, 2024

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)	2024	2023	2024	2023
Surgical
Implantables	464	437	897	864
Consumables	736	714	1,422	1,370
Equipment/other	223	231	442	452
Total Surgical net sales to third parties	1,423	1,382	2,761	2,686
Vision Care
Contact lenses	636	594	1,307	1,209
Ocular health	423	426	858	840
Total Vision Care net sales to third parties	1,059	1,020	2,165	2,049
Total net sales to third parties	2,482	2,402	4,926	4,735
Vision Care other revenues	14	20	29	39
Total net sales and other revenues	2,496	2,422	4,955	4,774

Segment contribution and reconciliation to income before taxes


	Three months ended June 30		Six months ended June 30
($ millions)	2024	2023	2024	2023
Segment contribution
Surgical	403	407	789	788
Vision Care	180	174	438	373
Total segment contribution	583	581	1,227	1,161
Not allocated to segments:
Amortization of intangible assets	(184)	(187)	(367)	(377)
Impairment charges on intangible assets	(9)	—	(9)	—
General & administration (corporate)	(73)	(74)	(148)	(142)

Transformation costs	—	(26)	—	(52)


Integration related costs	—	(8)	—	(14)

Other	1	(16)	(17)	(38)
Operating income	318	270	686	538
Interest expense	(50)	(48)	(95)	(95)
Other financial income & expense	12	(9)	24	(17)
Income before taxes	280	213	615	426

Disclosure of geographical areas

Net sales by region(1)


	Three months ended June 30						Six months ended June 30
($ millions unless indicated otherwise)	2024			2023			2024			2023
United States	1,141	46	%	1,105	46	%	2,290	46	%	2,183	46	%
International	1,341	54	%	1,297	54	%	2,636	54	%	2,552	54	%
Net sales to third parties	2,482	100	%	2,402	100	%	4,926	100	%	4,735	100	%

(1) Net sales to third parties by location of third-party customer.

Non-current and current financial debts (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure Of Borrowings [Abstract]

Schedule of financial debts

The below table summarizes non-current and current Financial debts outstanding as of June 30, 2024 and December 31, 2023.


($ millions)	June 30, 2024	December 31, 2023
Non-current financial debts
Local facilities (Japan), floating rate debt due 2025(1)	—	110
2.750% Series 2026 Notes	498	498
2.375% Series 2028 Notes	531	549
3.000% Series 2029 Notes	995	994
2.600% Series 2030 Notes	746	746
5.375% Series 2032 Notes	693	693
3.800% Series 2049 Notes	495	494
5.750% Series 2052 Notes	592	592
Revolving facility, floating rate due 2028	—	—
Total non-current financial debts	4,550	4,676

Current financial debts
Local facilities, floating rate:
Japan(1)	74	—
All others	50	48
Other short-term financial debts, floating rate	12	5
Derivatives	1	10
Total current financial debts	137	63
Total financial debts	4,687	4,739

Financial instruments (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024 and December 31, 2023.


	June 30, 2024
($ millions)	Level 1	Level 2	Level 3	Valued at amortized cost or cost(4)	Total
Non-current financial assets
Long-term financial investments measured at FVOCI(1)	—	—	243	—	243
Long-term financial investments measured at FVPL	—	—	1	—	1
Long-term note receivable and other financial assets measured at amortized cost	—	—	—	168	168
Long-term receivables from customers	—	—	—	118	118
Deferred compensation assets(2)	172	—	—	—	172
Non-current minimum lease payments from finance lease agreements	—	—	—	35	35
Long-term loans, VAT receivables, advances and security deposits	—	—	—	43	43
Non-current financial assets	172	—	244	364	780
Current financial assets
Money market funds	237	—	—	—	237

Current portion of long-term financial investments measured at FVPL(3)	—	—	2	—	2
Current portion of long-term receivables from customers(3)	—	—	—	115	115
Current portion of minimum lease payments from finance lease agreements(3)	—	—	—	27	27
VAT receivables(3)	—	—	—	61	61
Other receivables, security deposits and current assets(3)	—	—	—	98	98
Derivative financial instruments(3)	—	11	—	—	11
Current financial assets	237	11	2	301	551
Financial assets at fair value and amortized cost or cost	409	11	246	665	1,331
Financial liabilities
Contingent consideration liabilities	—	—	(94)	—	(94)
Non-current financial debt	—	—	—	(4,550)	(4,550)
Current financial debt	—	—	—	(136)	(136)
Derivative financial instruments	—	(1)	—	—	(1)
Financial liabilities at fair value and amortized cost	—	(1)	(94)	(4,686)	(4,781)

(1) Includes $11 million of Long-term convertible notes due from an associated company.

(2) Recorded in Other non-current assets.

(3) Recorded in Other current assets.


	December 31, 2023
($ millions)	Level 1	Level 2	Level 3	Valued at amortized cost or cost(4)	Total
Non-current financial assets
Long-term financial investments measured at FVOCI(1)	—	—	147	—	147
Long-term financial investments measured at FVPL	—	—	1	—	1
Long-term note receivable and other financial assets measured at amortized cost	—	—	—	161	161
Long-term receivables from customers	—	—	—	126	126
Deferred compensation assets(2)	163	—	—	—	163
Non-current minimum lease payments from finance lease agreements	—	—	—	38	38
Long-term loans, VAT receivables, advances and security deposits	—	—	—	44	44
Non-current financial assets	163	—	148	369	680
Current financial assets
Money market funds	84	—	—	—	84

Current portion of long-term financial investments measured at FVPL(3)	—	—	7	—	7
Current portion of long-term receivables from customers(3)	—	—	—	116	116
Current portion of minimum lease payments from finance lease agreements(3)	—	—	—	27	27
VAT receivables(3)	—	—	—	62	62
Other receivables, security deposits and current assets(3)	—	—	—	101	101
Derivative financial instruments(3)	—	2	—	—	2
Current financial assets	84	2	7	306	399
Financial assets at fair value and amortized cost or cost	247	2	155	675	1,079
Financial liabilities
Contingent consideration liabilities	—	—	(90)	—	(90)
Non-current financial debt	—	—	—	(4,676)	(4,676)
Current financial debt	—	—	—	(53)	(53)
Derivative financial instruments	—	(10)	—	—	(10)
Financial liabilities at fair value and amortized cost	—	(10)	(90)	(4,729)	(4,829)

(1) Includes $11 million of Long-term convertible notes due from an associated company.

(2) Recorded in Other non-current assets.

(3) Recorded in Other current assets.

(4) 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 $4,347 million and a carrying value of $4,566 million as of December 31, 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.

Financial assets


	Long-term financial investments measured at FVOCI		Financial investments measured at FVPL
($ millions)	2024	2023	2024	2023
Balance as of January 1	147	88	8	20
Additions	90	53	—	8

Gains recognized in Consolidated Statement of Comprehensive Income	6	2	—	—
Gains/(losses) in Consolidated Income Statement	—	—	2	(4)
Amortization	—	—	(2)	(1)
Settlement	—	—	(5)	—
Balance as of June 30	243	143	3	23

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, 2024 and December 31, 2023.


	June 30, 2024
($ millions)	Level 1	Level 2	Level 3	Valued at amortized cost or cost(4)	Total
Non-current financial assets
Long-term financial investments measured at FVOCI(1)	—	—	243	—	243
Long-term financial investments measured at FVPL	—	—	1	—	1
Long-term note receivable and other financial assets measured at amortized cost	—	—	—	168	168
Long-term receivables from customers	—	—	—	118	118
Deferred compensation assets(2)	172	—	—	—	172
Non-current minimum lease payments from finance lease agreements	—	—	—	35	35
Long-term loans, VAT receivables, advances and security deposits	—	—	—	43	43
Non-current financial assets	172	—	244	364	780
Current financial assets
Money market funds	237	—	—	—	237

Current portion of long-term financial investments measured at FVPL(3)	—	—	2	—	2
Current portion of long-term receivables from customers(3)	—	—	—	115	115
Current portion of minimum lease payments from finance lease agreements(3)	—	—	—	27	27
VAT receivables(3)	—	—	—	61	61
Other receivables, security deposits and current assets(3)	—	—	—	98	98
Derivative financial instruments(3)	—	11	—	—	11
Current financial assets	237	11	2	301	551
Financial assets at fair value and amortized cost or cost	409	11	246	665	1,331
Financial liabilities
Contingent consideration liabilities	—	—	(94)	—	(94)
Non-current financial debt	—	—	—	(4,550)	(4,550)
Current financial debt	—	—	—	(136)	(136)
Derivative financial instruments	—	(1)	—	—	(1)
Financial liabilities at fair value and amortized cost	—	(1)	(94)	(4,686)	(4,781)

(1) Includes $11 million of Long-term convertible notes due from an associated company.

(2) Recorded in Other non-current assets.

(3) Recorded in Other current assets.


	December 31, 2023
($ millions)	Level 1	Level 2	Level 3	Valued at amortized cost or cost(4)	Total
Non-current financial assets
Long-term financial investments measured at FVOCI(1)	—	—	147	—	147
Long-term financial investments measured at FVPL	—	—	1	—	1
Long-term note receivable and other financial assets measured at amortized cost	—	—	—	161	161
Long-term receivables from customers	—	—	—	126	126
Deferred compensation assets(2)	163	—	—	—	163
Non-current minimum lease payments from finance lease agreements	—	—	—	38	38
Long-term loans, VAT receivables, advances and security deposits	—	—	—	44	44
Non-current financial assets	163	—	148	369	680
Current financial assets
Money market funds	84	—	—	—	84

Current portion of long-term financial investments measured at FVPL(3)	—	—	7	—	7
Current portion of long-term receivables from customers(3)	—	—	—	116	116
Current portion of minimum lease payments from finance lease agreements(3)	—	—	—	27	27
VAT receivables(3)	—	—	—	62	62
Other receivables, security deposits and current assets(3)	—	—	—	101	101
Derivative financial instruments(3)	—	2	—	—	2
Current financial assets	84	2	7	306	399
Financial assets at fair value and amortized cost or cost	247	2	155	675	1,079
Financial liabilities
Contingent consideration liabilities	—	—	(90)	—	(90)
Non-current financial debt	—	—	—	(4,676)	(4,676)
Current financial debt	—	—	—	(53)	(53)
Derivative financial instruments	—	(10)	—	—	(10)
Financial liabilities at fair value and amortized cost	—	(10)	(90)	(4,729)	(4,829)

(1) Includes $11 million of Long-term convertible notes due from an associated company.

(2) Recorded in Other non-current assets.

(3) Recorded in Other current assets.

(4) 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 $4,347 million and a carrying value of $4,566 million as of December 31, 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.

Financial liabilities


	Contingent consideration liabilities
($ millions)	2024	2023
Balance as of January 1	(90)	(98)

Accretion for passage of time	(4)	(4)


Balance as of June 30	(94)	(102)

Disclosure of net value of unsettled positions for derivative forward contracts and swaps

The below table summarizes the net value of unsettled positions for currency derivatives contracts including swaps, forwards and options as of June 30, 2024 and December 31, 2023.


($ millions)	June 30, 2024	December 31, 2023

Unrealized gains in Other current assets	11	2
Unrealized losses in Current financial debts	(1)	(10)

Net value of unsettled positions for derivatives contracts	10	(8)

Condensed Consolidated Statements of Cash Flows - additional details (Tables)

6 Months Ended

Jun. 30, 2024

Cash Flow Statement [Abstract]

Depreciation, amortization, impairments and fair value adjustments


	Six months ended June 30
($ millions)	2024	2023

Property, plant & equipment	191	182
Right-of-use assets	40	40
Intangible assets	376	377
Financial assets	—	5
Other non-current assets	(1)	(1)
Total	606	603

Change in net current assets and other operating cash flow items


	Six months ended June 30
($ millions)	2024	2023

(Increase) in inventories	(71)	(198)
(Increase) in trade receivables	(116)	(138)
Increase in trade payables	72	36
Net change in other operating assets	(3)	(44)
Net change in other operating liabilities	(198)	(76)
Total	(316)	(420)

Equity-based compensation (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024 and 2023:


	Six months ended June 30
(shares in millions)	2024	2023
Unvested at January 1	4.9	4.8
Granted	2.2	2.2
Vested	(1.7)	(1.8)
Forfeited	(0.1)	(0.1)
Unvested at June 30	5.3	5.1

Selected accounting policies (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Corporate Information And Statement Of IFRS Compliance [Line Items]
Current financial debts	$ 137	$ 63
Non-current financial debts	$ 4,550	4,676
Cumulative Effect, Period of Adoption, Adjustment
Corporate Information And Statement Of IFRS Compliance [Line Items]
Current financial debts		(82)
Non-current financial debts		$ 82

Segmentation of key figures - Narrative (Details)	Jun. 30, 2024 segment
Operating Segments [Abstract]
Number of reportable segments	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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of operating segments [line items]
Net sales to third parties	$ 2,482	$ 2,402	$ 4,926	$ 4,735
Other revenues	14	20	29	39
Net sales and other revenues	2,496	2,422	4,955	4,774
Total segment contribution	583	581	1,227	1,161
Amortization of intangible assets	(184)	(187)	(367)	(377)
Impairment charges on intangible assets	(9)	0	(9)	0
General & administration (corporate)	(73)	(74)	(148)	(142)
Transformation costs	0	(26)	0	(52)
Integration related costs	0	(8)	0	(14)
Other	1	(16)	(17)	(38)
Operating income	318	270	686	538
Interest expense	(50)	(48)	(95)	(95)
Other financial income & expense	12	(9)	24	(17)
Income before taxes	280	213	615	426
Surgical
Disclosure of operating segments [line items]
Net sales to third parties	1,423	1,382	2,761	2,686
Total segment contribution	403	407	789	788
Surgical \| Implantables
Disclosure of operating segments [line items]
Net sales to third parties	464	437	897	864
Surgical \| Consumables
Disclosure of operating segments [line items]
Net sales to third parties	736	714	1,422	1,370
Surgical \| Equipment/other
Disclosure of operating segments [line items]
Net sales to third parties	223	231	442	452
Vision Care
Disclosure of operating segments [line items]
Net sales to third parties	1,059	1,020	2,165	2,049
Total segment contribution	180	174	438	373
Vision Care \| Contact lenses
Disclosure of operating segments [line items]
Net sales to third parties	636	594	1,307	1,209
Vision Care \| Ocular health
Disclosure of operating segments [line items]
Net sales to third parties	$ 423	$ 426	$ 858	$ 840

Segmentation of key figures - Net sales by region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of geographical areas [line items]
Net sales to third parties	$ 2,482	$ 2,402	$ 4,926	$ 4,735
Percentage of entity's revenue	100.00%	100.00%	100.00%	100.00%
United States
Disclosure of geographical areas [line items]
Net sales to third parties	$ 1,141	$ 1,105	$ 2,290	$ 2,183
Percentage of entity's revenue	46.00%	46.00%	46.00%	46.00%
International
Disclosure of geographical areas [line items]
Net sales to third parties	$ 1,341	$ 1,297	$ 2,636	$ 2,552
Percentage of entity's revenue	54.00%	54.00%	54.00%	54.00%

Dividends and earnings per share (Details) shares in Millions, $ in Millions			1 Months Ended		3 Months Ended		6 Months Ended
	Feb. 27, 2024 SFr / shares	Feb. 27, 2023 SFr / shares	May 31, 2024 USD ($)	May 31, 2023 USD ($)	Jun. 30, 2024 shares	Jun. 30, 2023 shares	Jun. 30, 2024 shares	Jun. 30, 2023 shares
Earnings per share [abstract]
Dividend declared (in dollars per share) \| SFr / shares	SFr 0.24	SFr 0.21
Dividends paid \| $			$ 130	$ 116
Number of shares outstanding					494.5		494.5
Number of shares vested							1.2
Weighted average number of shares outstanding - basic (in shares)					494.5	493.2	494.1	492.8
Weighted average number of shares outstanding - diluted (in shares)					497.0	495.7	496.7	495.9
Potentially dilutive shares (in shares)					2.5	2.5	2.6	3.1

Intangible assets other than goodwill (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of detailed information about intangible assets [abstract]
Impairment of intangibles	$ 9	$ 0	$ 9	$ 0

Non-current and current financial debts - Schedule of financial debts (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about borrowings [line items]
Total non-current financial debts	$ 4,550	$ 4,676
Total current financial debts	137	63
Total financial debts	4,687	4,739
Local facilities (Japan), floating rate debt due 2025
Disclosure of detailed information about borrowings [line items]
Total non-current financial debts	0	110
Total current financial debts	$ 74	0
Series 2026 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	2.75%
Total non-current financial debts	$ 498	498
Series 2028 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	2.375%
Total non-current financial debts	$ 531	549
Series 2029 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	3.00%
Total non-current financial debts	$ 995	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%
Total non-current financial debts	$ 693	693
Series 2049 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	3.80%
Total non-current financial debts	$ 495	494
Series 2052 Notes
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	5.75%
Total non-current financial debts	$ 592	592
Revolving facility, floating rate due 2028
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	50	48
Other short-term financial debts, floating rate
Disclosure of detailed information about borrowings [line items]
Total current financial debts	12	5
Derivatives
Disclosure of detailed information about borrowings [line items]
Total current financial debts	$ 1	$ 10

Non-current and current financial debts - Additional information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of detailed information about borrowings [line items]
Interest expense	$ 43	$ 40	$ 83	$ 81
Revolving facility, floating rate due 2028
Disclosure of detailed information about borrowings [line items]
Undrawn borrowing facilities	$ 1,320		$ 1,320

Financial instruments - Schedule of fair value of assets and liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	$ 608	$ 517
Non-current convertible note from associated company	11	11
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	4,232	4,347
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	(94)	(90)
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)
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	(4,686)	(4,729)
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	(4,550)	(4,566)
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	(4,550)	(4,676)
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	(136)	(53)
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	(4,781)
Money market funds
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	237	84
Measured at FVOCI \| Long-term financial investments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	243	147
Measured at amortized cost or cost and fair value
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	780	680
Current financial assets	551	399
Financial assets at fair value and amortized cost or cost	1,331	1,079
Financial liabilities, at fair value and amortized cost		(4,829)
Measured at FVPL \| Long-term financial investments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	1	1
Measured at FVPL \| Deferred compensation assets
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	172	163
Measured at FVPL \| Derivative financial instruments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	11	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	2	7
Measured at amortized cost or cost
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	364	369
Current financial assets	301	306
Financial assets at fair value and amortized cost or cost	665	675
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	168	161
Current financial assets	1
Financial assets at fair value and amortized cost or cost	169
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	118	126
Current financial assets	115	116
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	35	38
Current financial assets	27	27
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	43	44
Measured at amortized cost or cost \| VAT receivables
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	61	62
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	98	101
Level 3 \| Contingent consideration liabilities
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities, at fair value and amortized cost	(94)	(90)	$ (102)	$ (98)
Recurring fair value measurement \| Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	172	163
Current financial assets	237	84
Financial assets at fair value and amortized cost or cost	409	247
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	237	84
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	172	163
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	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	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 \| VAT receivables
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 \| 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
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	0	0
Current financial assets	11	2
Financial assets at fair value and amortized cost or cost	11	2
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	11	2
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	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	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 \| VAT receivables
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 \| 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
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Non-current financial assets	244	148
Current financial assets	2	7
Financial assets at fair value and amortized cost or cost	246	155
Financial liabilities, at fair value and amortized cost	(94)	(90)
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	(94)	(90)
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	243	147
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	1	1
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	2	7
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	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 \| VAT receivables
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 \| Other receivables, security deposits and current assets
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Current financial assets	$ 0	$ 0

Financial instruments - Activity in level 3 financial assets (Details) - Level 3 - Financial investments - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Measured at FVOCI
Changes in fair value measurement, assets [abstract]
Balance as of January 1	$ 147	$ 88
Additions	90	53
Gains recognized in Consolidated Statement of Comprehensive Income	6	2
Gains/(losses) in Consolidated Income Statement	0	0
Amortization	0	0
Settlement	0	0
Balance as of June 30	243	143
Measured at FVPL
Changes in fair value measurement, assets [abstract]
Balance as of January 1	8	20
Additions	0	8
Gains recognized in Consolidated Statement of Comprehensive Income	0	0
Gains/(losses) in Consolidated Income Statement	2	(4)
Amortization	(2)	(1)
Settlement	(5)	0
Balance as of June 30	$ 3	$ 23

Financial instruments - Activity in level 3 financial liabilities (Details) - Level 3 - Contingent consideration liabilities - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Changes in fair value measurement, liabilities [abstract]
Balance as of January 1	$ (90)	$ (98)
Accretion for passage of time	(4)	(4)
Balance as of June 30	$ (94)	$ (102)

Financial instruments - Additional information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Disclosure of detailed information about borrowings [line items]
Contingent amount	$ 395
Non-current financial assets	608	$ 517
Collateral amount	$ 320
Collateral decrease percentage	15.00%
Measured at amortized cost or cost
Disclosure of detailed information about borrowings [line items]
Financial assets	$ 665	675
Non-current financial assets	364	369
Current financial assets	301	306
Measured at amortized cost or cost \| Long-term note receivable and other financial assets
Disclosure of detailed information about borrowings [line items]
Financial assets	169
Non-current financial assets	168	$ 161
Current financial assets	$ 1
Minimum
Disclosure of detailed information about borrowings [line items]
Probability of success, contingent consideration	0.03
Maximum
Disclosure of detailed information about borrowings [line items]
Probability of success, contingent consideration	0.55

Financial instruments - Disclosure of net value of unsettled positions for derivative forward contracts and swaps (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Financial Instruments [Abstract]
Unrealized gains in Other current assets	$ 11	$ 2
Unrealized losses in Current financial debts	(1)	(10)
Net value of unsettled positions for derivatives contracts	$ 10	$ (8)

Condensed Consolidated Statements of Cash Flows - additional details - Depreciation, amortization, impairments and fair value adjustments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure of detailed information about property, plant and equipment [line items]
Total	$ 606	$ 603
Property, plant & equipment
Disclosure of detailed information about property, plant and equipment [line items]
Total	191	182
Right-of-use assets
Disclosure of detailed information about property, plant and equipment [line items]
Total	40	40
Intangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Total	376	377
Financial assets
Disclosure of detailed information about property, plant and equipment [line items]
Total	0	5
Other non-current assets
Disclosure of detailed information about property, plant and equipment [line items]
Total	$ (1)	$ (1)

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, 2024	Jun. 30, 2023
Cash Flow Statement [Abstract]
(Increase) in inventories	$ (71)	$ (198)
(Increase) in trade receivables	(116)	(138)
Increase in trade payables	72	36
Net change in other operating assets	(3)	(44)
Net change in other operating liabilities	(198)	(76)
Total	$ (316)	$ (420)

Equity-based compensation (Details) - shares shares in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangements [Abstract]
Unvested (in shares)	4.9	4.8
Granted (in shares)	2.2	2.2
Vested (in shares)	(1.7)	(1.8)
Forfeited (in shares)	(0.1)	(0.1)
Unvested (in shares)	5.3	5.1

Related parties transactions (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Related Party [Abstract]
Proportion of ownership interest in associate	8.50%
Investments in associates accounted for using equity method	$ 10	$ 10
Non-current convertible note from associated company	$ 11	$ 11

Subsequent events (Details)	Aug. 12, 2024
Potential ordinary share transactions
Disclosure of non-adjusting events after reporting period [line items]
Divestiture of licensing rights, consideration to receive, percentage of ordinary shares	16.70%

Alcon (NYSE:ALC)
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