Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 390

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1A
Chunk 390
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 in equity securities, as equity portfolios have historically provided higher returns than debt and other asset classes over extended time horizons. Correspondingly, equity investments also entail greater risks than other investments. Equity risks are balanced by investing a significant portion of plan assets in broadly diversified fixed income securities.Fair Value of Plan AssetsThe Company measured the fair value of plan assets based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 5, “FAIR VALUE MEASUREMENTS” for details on the Company's' fair value measurements based on a three-tier hierarchy.The table below presents total plan assets by investment category as of December 31, 2024 and 2023 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value. There were no transfers between Level 1, Level 2 or Level 3 during 2024 and 2023.Pension Benefit Plans - U.S. PlansDecember 31, 2024December 31, 2023(in millions)Level 1Level 2TotalLevel 1Level 2TotalCash and cash equivalents$1 $— $1 $1 $— $1 Commingled funds: Equity securities:U.S. broad market— 24 24 — 34 34 Emerging markets— 5 5 — 6 6 Worldwide developed markets— 11 11 — 13 13 Other assets— 6 6 — 10 10 Fixed income securities:Investment grade— 108 108 — 98 98 $1 $154 $155 $1 $161 $162 

F-43

Pension Benefit Plans - Non-U.S. PlansDecember 31, 2024December 31, 2023(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalCash equivalents$— $11 $— $11 $— $9 $— $9 Commingled funds: Equity securities:Emerging markets— 1 — 1 — 1 — 1 Developed markets— 23 — 23 — 23 — 23 Fixed income securities:Investment grade— 1 — 1