Company: BLCO
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001860742-25-000018
Chunk: 131

Company: Bausch & Lomb Corp
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 2
Chunk 131
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.Foreign Exchange and OtherForeign exchange and other was a net loss of $8 million and $3 million for the six months ended June 30, 2025 and 2024, respectively.Income TaxesBenefit from income taxes was $58 million for the six months ended June 30, 2025, as compared to a provision for income taxes of $145 million for the six months ended June 30, 2024, a favorable change of $203 million. The change in income taxes was primarily related to: (i) a change in the jurisdictional and seasonal mix of earnings and (ii) discrete tax effects of: (a) a tax benefit recorded on acquired assets, (b) the year to date impact of the enVista recall and (c) a benefit for previously accrued taxes that settled favorably with the Internal Revenue Service.See Note 14, “INCOME TAXES” to our unaudited interim Condensed Consolidated Financial Statements for further details.Net loss attributable to Bausch + Lomb CorporationNet loss attributable to Bausch + Lomb Corporation for the six months ended June 30, 2025 and 2024 was $274 million and $318 million, respectively, an increase in our results of $44 million and was primarily due to the decrease in the provision for income taxes of $203 million, partially offset by the decrease in our operating results of $126 million and increase in interest expense of $21 million, each as previously discussed.LIQUIDITY AND CAPITAL RESOURCESCash FlowsSix Months Ended June 30,(in millions)20252024ChangeNet cash provided by operating activities$10 $56 $(46)Net cash used in investing activities(206)(131)(75)Net cash provided by financing activities121 52 69 Effect of exchange rate changes on cash and cash equivalents and restricted cash31 (9)40 Net decrease in cash and cash equivalents and restricted cash(44)(32)(12)Cash and cash equivalents and restricted cash, beginning of period316 334 (18)Cash and cash equivalents and restricted cash, end of period$272 $302 $(30)Operating ActivitiesNet cash provided by operating activities was $10 million and $56 million for the six months ended June 30, 2025 and 2024, respectively, a decrease of $46 million, and is primarily attributable to financing fees associated with the June 2025 refinancing, partially offset by a favorable change in our operating assets