Company: BLCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001860742-25-000008
Chunk: 21

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 21
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 Condensed Consolidated Balance Sheets are as follows:(in millions)March 31,2025December 31,2024Other non-current liabilities$76 $40 Prepaid expenses and other current assets$3 $6 Net fair value$73 $34 The following table presents the effect of hedging instruments on the Condensed Consolidated Statements of Comprehensive Loss and the Condensed Consolidated Statements of Operations for the three months ended March 31, 2025 and 2024:Three Months EndedMarch 31,(in millions)20252024(Loss) gain recognized in Other comprehensive loss$(36)$20 Gain excluded from assessment of hedge effectiveness$3 $3 Location of gain of excluded componentInterest expenseNo portion of the cross-currency swaps were ineffective for the three months ended March 31, 2025 and 2024. The Company received $6 million in interest settlements for each of the three months ended March 31, 2025 and 2024, which are reported as investing activities in the Condensed Consolidated Statements of Cash Flows.Foreign Currency Exchange ContractsThe Company enters into foreign currency exchange contracts to economically hedge the foreign exchange exposure on certain of the Company's intercompany balances. As of March 31, 2025, these contracts had an aggregate notional amount of $308 million.

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The assets and liabilities associated with the Company’s foreign exchange contracts as included in the Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024 are as follows:(in millions)March 31,2025December 31,2024Accrued and other current liabilities$(1)$(3)Prepaid expenses and other current assets$1 $7 Net fair value$— $4 The following table presents the effect of the Company’s foreign exchange contracts on the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 2024:Three Months EndedMarch 31,(in millions)20252024(Loss) gain related to changes in fair value$(4)$3 (Loss) gain related to settlements$(4)$1 Acquisition-related Contingent Consideration ObligationsAcquisition-related contingent consideration, which primarily consists of potential milestone payments, is recorded in the Condensed Consolidated Balance Sheets at its acquisition date estimated fair value, in accordance with the acquisition method