Company: BLCO
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001860742-25-000023
Chunk: 81

Company: Bausch & Lomb Corp
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 81
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i) higher selling costs and (ii) higher Business Transformation Costs (defined and discussed below).

47

Research and Development ExpensesR&D expenses were $277 million and $250 million for the nine months ended September 30, 2025 and 2024, respectively, an increase of $27 million, or 11%, primarily due to certain products in development, as previously discussed.Amortization of Intangible AssetsAmortization of Intangible assets was $202 million and $220 million for the nine months ended September 30, 2025 and 2024, respectively, a decrease of $18 million, or 8%, primarily due to fully amortized intangible assets no longer being amortized.See Note 8, “INTANGIBLE ASSETS AND GOODWILL” to our unaudited interim Condensed Consolidated Financial Statements for further details related to the Amortization of intangible assets.Other expense, netOther expense, net for the nine months ended September 30, 2025 and 2024 consists of the following:Nine Months EndedSeptember 30,(in millions)20252024Asset impairments$— $5 Restructuring, integration and separation costs43 20 Gain on sale of assets(6)(5)Litigation and other matters8 2 Acquired in-process research and development costs29 18 Acquisition-related costs5 3 Acquisition-related contingent consideration(50)2 Other expense, net$29 $45 Acquired in-process research and development costs in 2025 primarily relate to the acquisition of Whitecap Biosciences, as previously discussed.Acquisition-related contingent consideration in 2025 primarily reflects changes in: (i) the timing of regulatory approval of certain pipeline products and (ii) the estimated amount and timing of projected cash flows of certain products.Operating IncomeOperating income was $1 million and $75 million for the nine months ended September 30, 2025 and 2024, respectively, a decrease in our operating results of $74 million. This decrease primarily reflects the increase in SG&A and R&D, partially offset by the increase in contribution, each as previously discussed.Segment ProfitThe following table presents segment profits, segment profits as a percentage of segment revenues and the period-over-period changes in segment profits for the nine months ended September 30, 2025 and 2024.20252024Change(in millions)AmountPct.AmountPct.AmountPct.Segment Profits / Segment Profit Marg