Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 132

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7A
Chunk 132
---
 plans, and the sponsor matches a portion of the employee contributions. Prior to the B+L IPO, the Company participated in BHC sponsored defined contribution plans. The Company and BHC (prior to the B+L IPO) contributed $36 million, $34 million and $33 million to these plans during the years 2024, 2023 and 2022, respectively.12.LEASESRight-of-use assets and lease liabilities associated with the Company's operating leases are included in the Consolidated Balance Sheets as follows:(in millions)December 31, 2024December 31, 2023Right-of-use assets included in:Other non-current assets$151 $114 Lease liabilities included in:Accrued and other current liabilities$32 $27 Other non-current liabilities120 87 Total lease liabilities$152 $114 As of December 31, 2024 and 2023, the Company's finance leases were not material and for 2024 and 2023 sub-lease income and short-term lease expense were not material. Lease expense for 2024 and 2023 includes:(in millions)20242023Operating lease costs$46 $40 Variable operating lease costs$10 $7 

F-44

Other information related to operating leases for 2024 and 2023 is as follows:(dollars in millions)20242023Cash paid from operating cash flows for amounts included in the measurement of lease liabilities$42 $38 Right-of-use assets obtained in exchange for new operating lease liabilities$73 $24 Weighted-average remaining lease term7.4 years6.7 yearsWeighted-average discount rate7.5 %6.7 %As of December 31, 2024, future payments under noncancellable operating leases for each of the five succeeding years ending December 31 and thereafter are as follows:(in millions)2025$42 202635 202727 202821 202912 Thereafter64 Total201 Less: Imputed interest49 Present value of remaining lease payments152 Less: Current portion32 Non-current portion$120 13.SHARE-BASED COMPENSATION BHC Long-term Incentive ProgramPrior to May 5, 2022, Bausch + Lomb employees participated in BHC’s long-term incentive program. Therefore, prior to May 5, 2022, share-based compensation expense attributable to