Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 448

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 2
Chunk 448
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 for 2023, primarily include transaction costs attributable to the XIIDRA Acquisition.Operating IncomeOperating income for 2024 and 2023 was $162 million and $130 million, respectively, an increase of $32 million, or 25%. This increase primarily reflects the increase in contribution, partially offset by the increases in SG&A and amortization expense, each as previously discussed.Segment ProfitSegment profit is based on operating income after the elimination of intercompany transactions. Certain costs, such as Amortization of intangible assets and Other expense, net, are not included in the measure of segment profit, as management excludes these items in assessing segment financial performance. Segment profit is a measure of operating performance of our reportable segments and may not be comparable to similar measures reported by other companies. Segment profit is a performance metric utilized by the Company’s Chief Executive Officer, who is the Company’s Chief Operating Decision Maker, to allocate resources to and assess performance of the Company’s segments. See Note 21, “SEGMENT INFORMATION” to our audited Consolidated Financial Statements for a reconciliation of segment profit to Income before provision for income taxes.

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The following table presents segment profits, segment profits as a percentage of segment revenues and the period-over-period changes in segment profits for 2024 and 2023.20242023Change(in millions)AmountPct.AmountPct.AmountPct.Segment Profits / Segment Profit MarginsVision Care$808 29 %$689 27 %$119 17 %Pharmaceuticals256 21 %241 29 %15 6 %Surgical44 5 %50 7 %(6)(12)%Vision Care Segment ProfitThe Vision Care segment profit was $808 million and $689 million for 2024 and 2023, respectively, an increase of $119 million, or 17%. The increase was primarily driven by: (i) increased contribution, driven by the increases in pricing and volume, as previously discussed and (ii) lower R&D expense within our consumer eye care business. These increases were partially offset by higher advertising and promotional expenses in our consumer eye care business driven by Lumify®, Blink® Product Line, acquired in July 2023, and BlinkTM NutriTears®, which began launching in June 2024.Pharmaceuticals Segment ProfitThe Pharmaceuticals segment profit was $256 million and $241 million for 2024 and 2023, respectively, an increase of $15 million, or 6