Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 561

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 2
Chunk 561
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 using the net asset value per fund share, which is derived using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades.Defined Contribution PlansThe Company sponsors defined contribution plans in the U.S., Ireland and certain other countries. Under these plans, employees are allowed to contribute a portion of their salaries to the plans, and the sponsor matches a portion of the employee contributions. Prior to the B+L IPO, the Company participated in BHC sponsored defined contribution plans. The Company and BHC (prior to the B+L IPO) contributed $36 million, $34 million and $33 million to these plans during the years 2024, 2023 and 2022, respectively.12.LEASESRight-of-use assets and lease liabilities associated with the Company's operating leases are included in the Consolidated Balance Sheets as follows:(in millions)December 31, 2024December 31, 2023Right-of-use assets included in:Other non-current assets$151 $114 Lease liabilities included in:Accrued and other current liabilities$32 $27 Other non-current liabilities120 87 Total lease liabilities$152 $114 As of December 31, 2024 and 2023, the Company's finance leases were not material and for 2024 and 2023 sub-lease income and short-term lease expense were not material. Lease expense for 2024 and 2023 includes:(in millions)20242023Operating lease costs$46 $40 Variable operating lease costs$10 $7 

F-44

Other information related to operating leases for 2024 and 2023 is as follows:(dollars in millions)20242023Cash paid from operating cash flows for amounts included in the measurement of lease liabilities$42 $38 Right-of-use assets obtained in exchange for new operating lease liabilities$73 $24 Weighted-average remaining lease term7.4 years6.7 yearsWeighted-average discount rate7.5 %6.7 %As of December 31, 2024, future payments under noncancellable operating leases for each of the five succeeding years ending December 31 and thereafter are as follows:(in millions)2025$42 202635 202727 202821 202912 Thereafter64 Total201 Less: Imputed interest49 Present value of remaining lease payments152 Less: Current portion