Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 451

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 2
Chunk 451
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, an increase of $249 million.Net cash provided by operating activities for 2024 was positively impacted by: (i) our net earnings, excluding non-cash expenses and other adjustments primarily for depreciation and amortization, deferred income taxes and share-based compensation and (ii) the timing of payments in the ordinary course of business, partially offset by increases in trade receivables and inventory.Net cash used in operating activities for 2023 was negatively impacted by the change in our operating assets and liabilities, due to: (a) a strategic increase in inventories, (b) the timing of payments in the ordinary course of business and (c) growth in sales volumes, as previously discussed, which drove an increase in our trade receivables.Investing ActivitiesNet cash used in investing activities was $412 million and $2,109 million for 2024 and 2023, respectively, a decrease of $1,697 million and was primarily driven by payments related to acquisitions during 2023 of $1,941 million primarily related to the XIIDRA Acquisition, the acquisition of the Blink® Product Line and the acquisition of AcuFocus, each as previously discussed, partially offset by an increase in purchases of property, plant and equipment during 2024. Payments related to acquisitions during 2024 of $138 million primarily related to the acquisitions of Elios Vision and Trukera Medical, as previously discussed, and certain other investments.Financing ActivitiesNet cash provided by financing activities was $178 million and $2,078 million for 2024 and 2023, respectively, a decrease of $1,900 million. The decrease is primarily attributable to lower levels of debt incurrence. For 2024, issuances of long-term debt, net of discounts were $631 million, which included the May 2027 Incremental Term Facility and borrowings under the Revolving Credit Facility (each as defined below). For 2023, issuances of long-term debt, net of discounts were $2,276 million, related to the September 2028 Term Facility, the October 2028 Secured Notes and borrowings under the Revolving Credit Facility (each as defined below).

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Liquidity and DebtFuture Sources of LiquidityOur primary sources of liquidity are expected to be our cash and cash equivalents, cash collected from customers, funds as needed from our Revolving Credit Facility, and issuances of other long-term debt, additional equity and equity-linked securities. We believe these sources will be sufficient to meet our