Company: BLCO
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001860742-25-000023
Chunk: 131

Company: Bausch & Lomb Corp
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 131
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 revenue less cost of goods sold, exclusive of amortization and impairments of intangible assets) increased by $39 million, primarily driven by: (i) higher manufacturing variances, including that related to the voluntary recall of certain enVista IOL products and (ii) product mix.Cost of goods sold as a percentage of Product sales was 41.1% and 39.1% for the nine months ended September 30, 2025 and 2024, respectively. The unfavorable change was driven by product mix and the overall impact of the voluntary recall of certain enVista IOL products.Selling, General and Administrative ExpensesSG&A expenses were $1,670 million and $1,550 million for the nine months ended September 30, 2025 and 2024, respectively, an increase of $120 million, or 8%. The increase was primarily attributable to: (i) higher selling costs and (ii) higher Business Transformation Costs (defined and discussed below).

47

Research and Development ExpensesR&D expenses were $277 million and $250 million for the nine months ended September 30, 2025 and 2024, respectively, an increase of $27 million, or 11%, primarily due to certain products in development, as previously discussed.Amortization of Intangible AssetsAmortization of Intangible assets was $202 million and $220 million for the nine months ended September 30, 2025 and 2024, respectively, a decrease of $18 million, or 8%, primarily due to fully amortized intangible assets no longer being amortized.See Note 8, “INTANGIBLE ASSETS AND GOODWILL” to our unaudited interim Condensed Consolidated Financial Statements for further details related to the Amortization of intangible assets.Other expense, netOther expense, net for the nine months ended September 30, 2025 and 2024 consists of the following:Nine Months EndedSeptember 30,(in millions)20252024Asset impairments$— $5 Restructuring, integration and separation costs43 20 Gain on sale of assets(6)(5)Litigation and other matters8 2 Acquired in-process research and development costs29 18 Acquisition-related costs5 3 Acquisition-related contingent consideration(50)2 Other expense, net$29 $45 Acquired in-process research and development costs in 2025 primarily relate to the acquisition of Whitecap Bios