Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 274

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1A
Chunk 274
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 measures and non-GAAP ratios are not prepared in accordance with GAAP nor do they have any standardized meaning under GAAP. In addition, other companies may use similarly titled non-GAAP financial measures and ratios that are calculated differently from the way we calculate such measures and ratios. Accordingly, the Company’s non-GAAP financial measures and ratios may not be comparable to such similarly titled non-GAAP financial measures and ratios used by other companies.

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The following table presents a reconciliation of Revenues to constant currency revenues (non-GAAP) and the period-over-period changes in constant currency revenue (non-GAAP) for 2024 and 2023. Year Ended December 31, 2024Year Ended December 31, 2023Change inConstant Currency Revenue (Non-GAAP)RevenueasReportedChanges in Exchange RatesConstant Currency Revenue (Non-GAAP)RevenueasReported(in millions)AmountPct.Vision Care$2,739 $54 $2,793 $2,543 $250 10 %Pharmaceuticals1,209 6 1,215 836 379 45 %Surgical843 9 852 767 85 11 %Total$4,791 $69 $4,860 $4,146 $714 17 %Vision Care Segment RevenueThe Vision Care segment revenue was $2,739 million and $2,543 million for 2024 and 2023, respectively, an increase of $196 million, or 8%. The increase was primarily driven by sales from our dry eye portfolio, Lumify® and PreserVision® within our consumer eye care business and SiHy Daily lenses and Bausch + Lomb Ultra® within our contact lens business. This increase included: (i) an increase in volumes of $144 million, (ii) an increase in net pricing of $84 million and (iii) incremental sales attributable to acquisitions driven by the acquisition of the Blink® Product Line in July 2023, partially offset by: (i) the unfavorable impact of foreign currencies of $54 million, primarily in Asia and Latin America, and (ii) the impact of discontinuations.Our 2023 revenues were negatively impacted due to previously unfulfilled orders at our Lynchburg distribution facility. During the second quarter of 2023, we put into place a system upgrade; however, we incurred disruptions during the implementation of this upgrade, which resulted in slower than normal processing of certain orders, thereby negatively