Company: BLCO
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001860742-25-000018
Chunk: 75

Company: Bausch & Lomb Corp
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 75
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 partially offset by higher cost of sales, driven by our contact lens businesses, and higher selling expense.Pharmaceuticals Segment ProfitThe Pharmaceuticals segment profit was $37 million and $78 million for the three months ended June 30, 2025 and 2024, respectively, a decrease of $41 million. The decrease was primarily driven by: (i) higher selling and advertising and promotional expenses related to MIEBO®, (ii) declines in the U.S. generics business and (iii) gross-to-net pricing pressures, primarily attributable to XIIDRA®.Surgical Segment ProfitThe Surgical segment profit was $2 million and $4 million for the three months ended June 30, 2025 and 2024, respectively, a decrease of $2 million. The decrease was primarily due to the overall impact of the voluntary recall of certain enVista IOL products.Non-Operating Income and ExpenseInterest Expense Interest expense primarily consists of interest payments due, amortization of debt discounts and deferred issuance costs on indebtedness under our credit facilities. Interest expense was $128 million and $102 million for the three months ended June 30, 2025 and 2024, respectively, an increase of $26 million. The increase is 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 represents the differences between the amounts paid to settle extinguished debts and the carrying value of the related extinguished debt. Loss on extinguishment of debt was $9 million for the three months ended June 30, 2025 and relates to our June 2025 refinancing.Foreign Exchange and OtherForeign exchange and other primarily includes translation gains/losses on intercompany balances and third-party liabilities and the gain/loss due to the change in fair value of foreign currency exchange contracts. Foreign exchange and other was a net loss of $2 million and $3 million for the three months ended June 30, 2025 and 2024, respectively.Income TaxesBenefit from income taxes was $89 million for the three months ended June 30, 2025, as compared to a provision for income taxes of $72 million for the three months ended June 30, 2024, a favorable change of $161 million. The change in income taxes