Company: BLCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001860742-25-000008
Chunk: 16

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 16
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 are stated net of certain sales provisions and the allowance for credit losses.The activity in the allowance for credit losses for trade receivables for the three months ended March 31, 2025 and 2024 is as follows:Three Months EndedMarch 31,(in millions)20252024Balance, beginning of period$18 $21 Provision— — Write-offs(1)— Foreign exchange and other— — Balance, end of period$17 $21 4.RELATED PARTIESPrior to May 10, 2022, Bausch + Lomb had been managed and operated in the ordinary course of business with other affiliates of BHC. On May 10, 2022, Bausch + Lomb became an independent publicly traded company. As of April 23, 2025, BHC directly or indirectly held 310,449,643 common shares of Bausch + Lomb, which represented approximately 88% of the issued and outstanding common shares of Bausch + Lomb. Additionally, there have been no sales made to related parties for all periods presented.Accounts Receivable and PayableCertain transactions between Bausch + Lomb and BHC and affiliate businesses are cash-settled on a current basis and, therefore, are reflected in the Condensed Consolidated Balance Sheets. Amounts payable to BHC and its affiliates related to related party transactions were $12 million and $5 million as of March 31, 2025 and December 31, 2024, respectively, and are included within Accounts payable in the Condensed Consolidated Balance Sheets. Amounts due from BHC and its affiliates related to related party transactions were $23 million and $25 million as of March 31, 2025 and December 31, 2024, 

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respectively, of which $16 million and $6 million are included within Prepaid expenses and other current assets and $7 million and $19 million are included within Other non-current assets on the Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024, respectively. These amounts are inclusive of the receivables and payables associated with the separation agreements entered into in connection with the B+L IPO, as discussed below.Separation Agreement with BHCIn connection with the completion of the B+L IPO, the Company entered into a Master Separation Agreement (the “MSA”), that, together with the