Company: BLCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001860742-25-000008
Chunk: 31

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 31
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 assets to reduce the net carrying value to an amount that it believes is more likely than not to be realized. When the Company establishes or reduces the valuation allowance against its deferred tax assets, the provision for income taxes will increase or decrease, respectively, in the period such determination is made. The valuation allowance against deferred tax assets was $199 million and $179 million as of March 31, 2025 and December 31, 2024, respectively. The increase is related to the losses incurred during the quarter in jurisdictions for which the Company has established a full valuation allowance.The Company’s U.S. affiliates remain under examination for various state tax audits in the U.S. for years 2015 through 2023.The Company’s subsidiaries in Germany are under audit for tax years 2014 through 2019. During the three months ended September 30, 2023, the Company received a preliminary assessment from the German taxing authority for the 2014 through 2016 period that would disallow certain transfer pricing adjustments. The Company contested this alleged tax deficiency through the appropriate appeals process, and reached a preliminary settlement with the German taxing authority during the year ended December 31, 2024. The preliminary settlement resulted in the accrual of an immaterial tax cost and will close out the 2014 to 2016 audit period once the preliminary settlement is finalized. The Company continues to believe this liability will be indemnified by BHC pursuant to the Tax Matters Agreement.

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As of March 31, 2025 and December 31, 2024, the Company had $67 million and $64 million of unrecognized tax benefits, which included $10 million and $9 million of interest and penalties, respectively. Of the total unrecognized tax benefits as of March 31, 2025, $55 million would reduce the Company’s effective tax rate, if recognized.15.LOSS PER SHARELoss per share attributable to Bausch + Lomb Corporation for the three months ended March 31, 2025 and 2024 were calculated as follows:Three Months Ended March 31,(in millions, except per share amounts)20252024Net loss attributable to Bausch + Lomb Corporation$(212)$(167)Basic weighted-average common shares outstanding352.8 351.1 Diluted effect of stock options and RSUs— — Diluted weighted-average common shares outstanding352.8 351.1 Basic and diluted loss per share attributable to B