Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 68

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7A
Chunk 68
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 the use of professionals with specialized skill and knowledge.Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the acquisition accounting, including controls over management’s valuation of the IPR&D asset and product brands acquired. These procedures also included, among others (i) reading the purchase agreement; (ii) testing management’s process for developing the fair value estimate of the IPR&D asset and product brands acquired; (iii) evaluating the appropriateness of the income approach used by management; (iv) testing the completeness and accuracy of the underlying data used in the income approach; and (v) evaluating the reasonableness of the significant assumptions used by management related to revenue growth rates and discount rates. Evaluating management’s assumptions related to revenue growth rates for the IPR&D asset 

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and product brands involved considering (i) the current and past performance of the Elios Vision business; (ii) the consistency with external market and industry data; and (iii) whether the assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the income approach and (ii) the reasonableness of the discount rates assumption for the IPR&D asset and product brands./s/ PricewaterhouseCoopers LLP Florham Park, New JerseyFebruary 19, 2025We have served as the Company’s auditor since 2020.

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BAUSCH + LOMB CORPORATIONCONSOLIDATED BALANCE SHEETS(in millions, except share amounts)December 31,  20242023Assets  Current assets:  Cash and cash equivalents$305 $331 Restricted cash11 3 Trade receivables, net1,026 839 Inventories, net1,036 1,028 Prepaid expenses and other current assets (Note 3)410 541 Total current assets2,788 2,742 Property, plant and equipment, net1,485 1,390 Intangible assets, net3,494 3,589 Goodwill4,523 4,575 Deferred tax assets, net885 921 Other non-current assets (Note 3)294 225 Total assets$13,469 $13,442 Liabilities Current liabilities: Accounts payable (Note 3)$389