Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 392

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1A
Chunk 392
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 not material. Lease expense for 2024 and 2023 includes:(in millions)20242023Operating lease costs$46 $40 Variable operating lease costs$10 $7 

F-44

Other information related to operating leases for 2024 and 2023 is as follows:(dollars in millions)20242023Cash paid from operating cash flows for amounts included in the measurement of lease liabilities$42 $38 Right-of-use assets obtained in exchange for new operating lease liabilities$73 $24 Weighted-average remaining lease term7.4 years6.7 yearsWeighted-average discount rate7.5 %6.7 %As of December 31, 2024, future payments under noncancellable operating leases for each of the five succeeding years ending December 31 and thereafter are as follows:(in millions)2025$42 202635 202727 202821 202912 Thereafter64 Total201 Less: Imputed interest49 Present value of remaining lease payments152 Less: Current portion32 Non-current portion$120 13.SHARE-BASED COMPENSATION BHC Long-term Incentive ProgramPrior to May 5, 2022, Bausch + Lomb employees participated in BHC’s long-term incentive program. Therefore, prior to May 5, 2022, share-based compensation expense attributable to Bausch + Lomb was derived from: (i) the specific identification of Bausch + Lomb employees and (ii) an allocation of charges from BHC, related to BHC employees providing corporate services to Bausch + Lomb. Accordingly, the amounts presented are not necessarily indicative of future awards and do not necessarily reflect the results that Bausch + Lomb would have experienced as an independent company for the periods presented. Subsequent to May 5, 2022, share-based compensation expense attributable to Bausch + Lomb employees participating in BHC’s long-term incentive program for grants made prior to May 5, 2022 is recognized as expense by Bausch + Lomb over the remaining vesting period.Bausch + Lomb Corporation 2022 Omnibus Incentive PlanEffective May 5, 2022, Bausch + Lomb established the Bausch + Lomb Corporation 2022 Omnibus Incentive Plan (as amended and restated by the 2023 Plan Amendment and as further amended and restated by the 2024 Plan Amendment). A