Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 131

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7A
Chunk 131
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 markets— 5 5 — 6 6 Worldwide developed markets— 11 11 — 13 13 Other assets— 6 6 — 10 10 Fixed income securities:Investment grade— 108 108 — 98 98 $1 $154 $155 $1 $161 $162 

F-43

Pension Benefit Plans - Non-U.S. PlansDecember 31, 2024December 31, 2023(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalCash equivalents$— $11 $— $11 $— $9 $— $9 Commingled funds: Equity securities:Emerging markets— 1 — 1 — 1 — 1 Developed markets— 23 — 23 — 23 — 23 Fixed income securities:Investment grade— 1 — 1 — 2 — 2 Government bond funds1 12 — 13 1 44 — 45 Other assets— 32 13 45 — 5 13 18 $1 $80 $13 $94 $1 $84 $13 $98 Cash equivalents consisted primarily of term deposits and money market instruments. The fair value of the term deposits approximates their carrying amounts due to their short-term maturities. The money market instruments also have short maturities and are valued using a market approach based on the quoted market prices of identical instruments.Commingled funds are not publicly traded. The underlying assets in these funds are publicly traded on the exchanges and have readily available price quotes. The Ireland pension plans held approximately 90% and 93% of the non-U.S. commingled funds in 2024 and 2023, respectively. The commingled funds held by the U.S. and Ireland pension plans are primarily invested in index funds.The underlying assets in the fixed income funds are generally valued using the net asset value per fund share, which is derived using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades.Defined Contribution PlansThe Company sponsors defined contribution plans in the U.S., Ireland and certain other countries. Under these plans, employees are allowed to contribute a portion of their salaries to the