Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 569

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 2
Chunk 569
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 employees continued to participate in BHC’s performance-based RSUs granted prior to May 5, 2022. As of December 31, 2024, the total remaining unrecognized compensation expense related to BHC non-vested performance-based RSUs was $0.14.ACCUMULATED OTHER COMPREHENSIVE LOSSAccumulated other comprehensive loss consists of:(in millions)December 31, 2024December 31, 2023Foreign currency translation adjustment$(1,358)$(1,217)Pension adjustment, net of tax(27)(28)$(1,385)$(1,245)Income taxes are not provided for foreign currency translation adjustments arising on the translation of Bausch + Lomb’s operations having a functional currency other than the U.S. dollar, except to the extent of translation adjustments related to Bausch + Lomb’s retained earnings for foreign jurisdictions in which Bausch + Lomb is not considered to be permanently reinvested.15.OTHER EXPENSE, NETOther expense, net for the years 2024, 2023 and 2022 consist of:(in millions)202420232022Asset impairments$5 $— $1 Restructuring, integration and separation costs26 44 14 Gain on sale of assets(5)— — Litigation and other matters5 3 1 Acquired in-process research and development costs18 — 1 Acquisition-related costs4 25 1 Acquisition-related contingent consideration(9)2 (5)Other expense, net$44 $74 $13 

F-49

The Company evaluates opportunities to improve its operating results and implements cost savings programs to streamline its operations and eliminate redundant processes and expenses.  Restructuring and integration costs are expenses associated with the implementation of these cost savings programs and include expenses associated with reducing headcount and other cost reduction initiatives. Restructuring and integration costs for the years 2024, 2023 and 2022 were $24 million, $43 million and, $5 million, respectively, and primarily consist of employee severance costs. These severance costs were provided under an ongoing benefit arrangement and were therefore recorded once they were both probable and reasonably estimable in accordance with the provisions of ASC 712-10, “Nonretirement Postemployment Benefits”.The Company has been launching certain initiatives that may result in certain changes to, and investment in, its organizational structure and operations