Company: BLCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001860742-25-000008
Chunk: 65

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 65
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Other expense, net$22 $9 Acquired in-process research and development costs in 2025 relates to the acquisition of Whitecap Biosciences, as previously discussed.Operating (Loss) IncomeOperating loss was $83 million for the three months ended March 31, 2025, as compared to operating income of $6 million for the three months ended March 31, 2024, a decrease in our operating results of $89 million. This decrease primarily reflects the increase in SG&A and decrease in contribution, each as previously discussed.Segment ProfitSegment profit is based on operating (loss) income after the elimination of intercompany transactions. Certain costs, such as Amortization of intangible assets and Other expense, net, are not included in the measure of segment profit, as management excludes these items in assessing segment financial performance. Segment profit is a measure of operating performance of our reportable segments and may not be comparable to similar measures reported by other companies. Segment profit is a performance metric utilized by the Company’s Chief Executive Officer, who is the Company’s Chief Operating Decision Maker, to allocate resources to and assess performance of the Company’s segments. See Note 17, “SEGMENT INFORMATION” to our unaudited interim Condensed Consolidated Financial Statements for a reconciliation of segment profit to Income before provision for income taxes.The following table presents segment profits, segment profits as a percentage of segment revenues and the period-over-period changes in segment profits for the three months ended March 31, 2025 and 2024.20252024Change(in millions)AmountPct.AmountPct.AmountPct.Segment Profits / Segment Profit MarginsVision Care$176 27 %$178 28 %$(2)(1)%Pharmaceuticals11 4 %53 20 %(42)(79)%Surgical(7)(3)%11 6 %(18)(164)%

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Vision Care Segment ProfitThe Vision Care segment profit was $176 million and $178 million for the three months ended March 31, 2025 and 2024, respectively, a decrease of $2 million as the increase in revenue was offset by higher cost of sales, driven by our international contact lens and consumer eye care businesses, and higher selling expense.Pharmaceuticals Segment ProfitThe Pharmaceuticals segment profit was $11 million and $53 million for the three months ended March 31, 2025 and 2024, respectively, a decrease of $42 million. The decrease was primarily