Company: BLCO
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001860742-25-000018
Chunk: 79

Company: Bausch & Lomb Corp
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 79
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Cost of goods sold was $1,004 million and $905 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $99 million, or 11%. The increase was primarily driven by: (i) higher volumes and (ii) higher manufacturing variances, which include an inventory reserve related to the voluntary recall of certain enVista IOL products.Contribution (product sales revenue less cost of goods sold, exclusive of amortization and impairments of intangible assets) decreased by $1 million, primarily driven by: (i) higher manufacturing variances, including that related to the voluntary recall of certain enVista IOL products and (ii) product mix.Cost of goods sold as a percentage of Product sales was 41.7% and 39.2% for the six months ended June 30, 2025 and 2024, respectively. The unfavorable change was driven by product mix and the overall impact of the voluntary recall of certain enVista IOL products.Selling, General and Administrative ExpensesSG&A expenses were $1,142 million and $1,039 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $103 million, or 10%. The increase was primarily attributable to: (i) higher selling and advertising and promotion costs, primarily attributable to MIEBO® and (ii) higher Business Transformation Costs (defined and discussed below).Research and Development ExpensesR&D expenses were $182 million and $166 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $16 million, or 10%, primarily due to certain products in development, as previously discussed.Amortization of Intangible AssetsAmortization of Intangible assets was $134 million and $148 million for the six months ended June 30, 2025 and 2024, respectively, a decrease of $14 million, or 9%, primarily due to fully amortized intangible assets no longer being amortized.

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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 six months ended June 30, 2025 and 2024 consists of the following:Six Months EndedJune 30,(in millions)20252024Asset