Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 281

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1A
Chunk 281
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)(18)10 Net (decrease) increase in cash and cash equivalents and restricted cash(18)(46)203 28 (249)Cash and cash equivalents and restricted cash, beginning of period334 380 177 (46)203 Cash and cash equivalents and restricted cash, end of period$316 $334 $380 $(18)$(46)A detailed discussion of the year-over-year changes of the Company’s 2024 results compared with that of 2023 can be found below. A detailed discussion of the year-over-year changes of the Company’s 2023 results compared with that of 2022 can be found under "Management’s Discussion and Analysis of Financial Condition and Results of Operations'' included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC and the CSA on February 21, 2024.Operating ActivitiesNet cash provided by operating activities was $232 million for 2024, as compared to net cash used in operating activities of $17 million for 2023, an increase of $249 million.Net cash provided by operating activities for 2024 was positively impacted by: (i) our net earnings, excluding non-cash expenses and other adjustments primarily for depreciation and amortization, deferred income taxes and share-based compensation and (ii) the timing of payments in the ordinary course of business, partially offset by increases in trade receivables and inventory.Net cash used in operating activities for 2023 was negatively impacted by the change in our operating assets and liabilities, due to: (a) a strategic increase in inventories, (b) the timing of payments in the ordinary course of business and (c) growth in sales volumes, as previously discussed, which drove an increase in our trade receivables.Investing ActivitiesNet cash used in investing activities was $412 million and $2,109 million for 2024 and 2023, respectively, a decrease of $1,697 million and was primarily driven by payments related to acquisitions during 2023 of $1,941 million primarily related to the XIIDRA Acquisition, the acquisition of the Blink® Product Line and the acquisition of AcuFocus, each as previously discussed, partially offset by an increase in purchases of property, plant and equipment during 2024. Payments related to acquisitions during 2024 of $138 million primarily related to the acquisitions of Elios Vision and Trukera Medical, as previously discussed, and certain other investments