$BLCO

Bausch & Lomb Corp

CIK:0001860742|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 1,394	$ 1,278	$ 2,638	$ 2,415
Expenses
Selling, general and administrative (Note 4)	588	579	1,132	1,142
Research and development	114	96	215	182
Amortization of intangible assets	57	67	114	134
Other expense, net	25	22	51	44
Total expenses	1,311	1,289	2,522	2,509
Operating income (loss)	83	(11)	116	(94)
Interest income	4	3	8	6
Interest expense	(93)	(128)	(190)	(222)
Loss on extinguishment of debt	0	(9)	(1)	(9)
Foreign exchange and other	(5)	(2)	(8)	(8)
Loss before provision for income taxes	(11)	(147)	(75)	(327)
Benefit from (provision for) income taxes	1	89	(5)	58
Net loss	(10)	(58)	(80)	(269)
Net income attributable to noncontrolling interest	(4)	(4)	(5)	(5)
Net loss attributable to Bausch + Lomb Corporation	$ (14)	$ (62)	$ (85)	$ (274)
Basic loss per share attributable to Bausch + Lomb Corporation (in usd per share)	$ (0.04)	$ (0.18)	$ (0.24)	$ (0.78)
Diluted loss per share attributable to Bausch + Lomb Corporation (in usd per share)	$ (0.04)	$ (0.18)	$ (0.24)	$ (0.78)
Basic weighted-average common shares (in shares)	357.1	353.7	356.2	353.3
Diluted weighted-average common shares (in shares)	357.1	353.7	356.2	353.3
Product sales
Revenues
Total revenues	$ 1,389	$ 1,272	$ 2,628	$ 2,405
Expenses
Cost of goods sold (excluding amortization and impairments of intangible assets) and Cost of other revenues	527	523	1,009	1,004
Other revenues
Revenues
Total revenues	5	6	10	10
Expenses
Cost of goods sold (excluding amortization and impairments of intangible assets) and Cost of other revenues	$ 0	$ 2	$ 1	$ 3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net loss	$ (80)	$ (269)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization of intangible assets	203	213
Amortization and write-off of debt premiums, discounts and issuance costs	7	10
Asset impairments	9	0
Acquisition-related contingent consideration	4	(27)
Allowances for losses on trade receivables and inventories	24	20
Deferred income taxes	(33)	(91)
Gain on sale of assets	(3)	0
Additions of accrued legal settlements	5	6
Share-based compensation	72	58
Foreign exchange loss	10	5
Gain excluded from hedge effectiveness	(4)	(6)
Loss on extinguishment of debt	1	9
Amortization of inventory step-up resulting from acquisitions	0	42
Other	(3)	(8)
Changes in operating assets and liabilities:
Trade receivables	55	(4)
Inventories	(58)	(10)
Prepaid expenses and other current assets	(25)	(12)
Accounts payable, accrued and other liabilities	1	74
Net cash provided by operating activities	185	10
Cash Flows From Investing Activities
Acquisitions and other investments	(53)	(13)
Purchases of property, plant and equipment	(171)	(199)
Purchases of marketable securities	(6)	(5)
Proceeds from sale of marketable securities	5	5
Proceeds from sale of assets and businesses, net of costs to sell	3	0
Interest settlements from cross-currency swaps	5	6
Net cash used in investing activities	(217)	(206)
Cash Flows From Financing Activities
Issuance of debt, net of discounts, and other financial liabilities	2,886	3,221
Repayments of debt and other financial liabilities	(2,840)	(3,070)
Payment of employee withholding taxes related to share-based awards	(27)	(11)
Proceeds from exercise of stock options	2	0
Payments of financing costs	0	(10)
Payments of noncontrolling interest distributions	(7)	(9)
Net cash provided by financing activities	14	121
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1)	31
Net decrease in cash and cash equivalents and restricted cash	(19)	(44)
Cash and cash equivalents and restricted cash, beginning of period	397	316
Cash and cash equivalents and restricted cash, end of period	378	272
Non-cash Investing Activities
Accrued purchases of property, plant and equipment	$ 29	$ 43

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 367	$ 383
Restricted cash	11	14
Trade receivables, net	1,160	1,221
Inventories, net	999	976
Prepaid expenses and other current assets (Note 4)	385	383
Total current assets	2,922	2,977
Property, plant and equipment, net	1,799	1,762
Intangible assets, net	3,169	3,281
Goodwill	4,723	4,758
Deferred tax assets, net	952	934
Other non-current assets (Note 4)	294	310
Total assets	13,859	14,022
Current liabilities:
Accounts payable (Note 4)	426	388
Accrued and other current liabilities	1,421	1,493
Current portion of long-term debt and other financial liabilities	43	39
Total current liabilities	1,890	1,920
Deferred tax liabilities, net	18	19
Other non-current liabilities	435	521
Long-term debt and other financial liabilities	5,072	5,043
Total liabilities	7,415	7,503
Commitments and contingencies (Note 16)
Equity
Common shares, no par value, unlimited shares authorized, 357,057,005 and 354,209,319 issued and outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Additional paid-in capital	8,610	8,563
Accumulated deficit	(1,016)	(931)
Accumulated other comprehensive loss	(1,218)	(1,184)
Total Bausch + Lomb Corporation shareholders’ equity	6,376	6,448
Noncontrolling interest	68	71
Total equity	6,444	6,519
Total liabilities and equity	$ 13,859	$ 14,022