Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 144

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7A
Chunk 144
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 from the German taxing authority for the 2014 through 2016 period that would disallow certain transfer pricing adjustments. The Company contested this alleged tax deficiency through the appropriate appeals process, and reached a preliminary settlement with the German taxing authority during the year ended December 31, 2024. The preliminary settlement resulted in the accrual of an immaterial tax cost and will close out the 2014 to 2016 audit period once the preliminary settlement is finalized. The Company continues to believe this liability will be indemnified by BHC pursuant to the Tax Matters Agreement.

F-52

Jurisdiction:Open YearsUnited States - Federal2015 - 2023Canada2021 - 2023Germany2014 - 2023France2013 - 2015, 2022 - 2023Ireland2021 - 2023China2014 - 2023The following table presents a reconciliation of the unrecognized tax benefits for 2024, 2023 and 2022:(in millions)202420232022Balance, beginning of year$68 $70 $74 Additions based on tax positions related to the current year— — 8 Additions for tax positions of prior years2 3 1 Reductions for tax positions of prior years(4)(1)(11)Lapse of statute of limitations(2)(4)(2)Balance, end of year$64 $68 $70 The Company believes that it is reasonably possible that the total amount of unrecognized tax benefits at December 31, 2024 could decrease by $1 million in the next 12 months as a result of the resolution of certain tax audits and other events.17.EARNINGS PER SHAREOn April 28, 2022, Bausch + Lomb effected a share consolidation as a result of which it had 350,000,000 issued and outstanding common shares. These common shares are treated as issued and outstanding at January 1, 2022 for purposes of calculating Basic and diluted (loss) income per share attributable to Bausch + Lomb Corporation.(Loss) income per share attributable to Bausch + Lomb Corporation for 2024, 2023 and 2022 were calculated as follows:(in millions, except per share amounts)202420232022Net (loss) income attributable to Bausch + Lomb Corporation$(317)$(260)$6 Basic weighted-average common shares outstanding351.8 350.5 350.0 D