Company: BLCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001860742-25-000008
Chunk: 24

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 24
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 of goodwill during the three months ended March 31, 2025 and the year ended December 31, 2024 were as follows:(in millions)Vision CarePharmaceuticalsSurgicalTotalBalance, January 1, 2024$3,556 $693 $326 $4,575 Acquisitions (Note 5)— — 29 29 Foreign exchange(27)(49)(5)(81)Balance, December 31, 20243,529 644 350 4,523 Acquisitions (Note 5)— — — — Foreign exchange6 33 5 44 Balance, March 31, 2025$3,535 $677 $355 $4,567 Goodwill is not amortized but is tested for impairment at least annually as of October 1st at the reporting unit level. A reporting unit is the same as, or one level below, an operating segment. Bausch + Lomb performs its annual impairment test by first assessing qualitative factors. Where the qualitative assessment suggests that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, a quantitative fair value test is performed for that reporting unit (Step 1).2024 Annual Goodwill Impairment TestThe Company conducted its annual goodwill impairment test as of October 1, 2024, by first assessing qualitative factors. Based on its qualitative assessment as of October 1, 2024, management believed that it was more likely than not that the carrying amounts of each of its reporting units were less than their respective fair values and therefore concluded that a quantitative fair value test was not required.March 31, 2025 Interim AssessmentNo events occurred or circumstances changed during the period from October 1, 2024 (the last time goodwill was tested for all reporting units) through March 31, 2025 that would indicate that the fair value of any reporting unit might be below its carrying value.If market conditions deteriorate, or if the Company is unable to execute its strategies, it may be necessary to record impairment charges in the future.There were no goodwill impairment charges through March 31, 2025.9.ACCRUED AND OTHER CURRENT LIABILITIESAccrued and other current liabilities consist of:(in millions)March 31,2025December 31,2024Product Rebates$441 $465 Employee Compensation and Benefit Costs193 230 Product Returns