Company: BLCO
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001860742-25-000018
Chunk: 81

Company: Bausch & Lomb Corp
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 81
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 months ended June 30, 2024, a decrease of $20 million. The decrease was primarily due to: (i) the overall impact of the voluntary recall of certain enVista IOL products and (ii) higher selling expenses, partially offset by the increase in revenues.

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Non-Operating Income and ExpenseInterest Expense Interest expense was $222 million and $201 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $21 million. The increase was primarily attributable to the write-off of financing costs associated with the June 2025 refinancing. See Note 10, “FINANCING ARRANGEMENTS” to our unaudited interim Condensed Consolidated Financial Statements for further details regarding our financing arrangements.Loss on Extinguishment of DebtLoss on extinguishment of debt was $9 million for the six months ended June 30, 2025 and relates to our June 2025 refinancing.Foreign Exchange and OtherForeign exchange and other was a net loss of $8 million and $3 million for the six months ended June 30, 2025 and 2024, respectively.Income TaxesBenefit from income taxes was $58 million for the six months ended June 30, 2025, as compared to a provision for income taxes of $145 million for the six months ended June 30, 2024, a favorable change of $203 million. The change in income taxes was primarily related to: (i) a change in the jurisdictional and seasonal mix of earnings and (ii) discrete tax effects of: (a) a tax benefit recorded on acquired assets, (b) the year to date impact of the enVista recall and (c) a benefit for previously accrued taxes that settled favorably with the Internal Revenue Service.See Note 14, “INCOME TAXES” to our unaudited interim Condensed Consolidated Financial Statements for further details.Net loss attributable to Bausch + Lomb CorporationNet loss attributable to Bausch + Lomb Corporation for the six months ended June 30, 2025 and 2024 was $274 million and $318 million, respectively, an increase in our results of $44 million and was primarily due to the decrease in the provision for income taxes of $203 million, partially offset by the decrease in our operating results of $126 million and increase in interest expense of $21 million, each as previously discussed.LIQUIDITY AND CAPITAL RESOURCESCash