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SHARE-BASED COMPENSATION (Tables) | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of the components and classification of share-based compensation expense | The following table summarizes the components and classification of the Company’s share-based compensation expenses related to stock options and RSUs for the three and nine months ended September 30, 2023 and 2022:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Stock options |  | $ | 4 |  |  | $ | 3 |  |  | $ | 14 |  |  | $ | 10 |
RSUs |  | 25 |  |  | 30 |  |  | 89 |  |  | 81 |
|  | $ | 29 |  |  | $ | 33 |  |  | $ | 103 |  |  | $ | 91 |
Research and development expenses |  | $ | 3 |  |  | $ | 3 |  |  | $ | 8 |  |  | $ | 9 |
Selling, general and administrative expenses |  | 26 |  |  | 30 |  |  | 95 |  |  | 82 |
|  | $ | 29 |  |  | $ | 33 |  |  | $ | 103 |  |  | $ | 91 |
Summary of share-based awards | Share-based awards granted for the nine months ended September 30, 2023 and 2022 consist of:
| 2023 |  | 2022
Bausch Health Share-Based Awards |  |  |
Stock options |  |  |
Granted | 999,000 |  |  | 2,570,000 |
Weighted-average exercise price | $ | 9.25 |  |  | $ | 23.95 |
Weighted-average grant date fair value | $ | 4.87 |  |  | $ | 6.60 |
Time-based RSUs |  |  |
Granted | 4,881,000 |  |  | 6,151,000 |
Weighted-average grant date fair value | $ | 9.02 |  |  | $ | 11.76 |
Adjusted Operating Cash Flow performance-based RSUs |  |  |
Granted | 647,000 |  |  | — |
Weighted-average grant date fair value | $ | 10.57 |  |  | $ | — |
ROTC performance-based RSUs |  |  |
Granted | — |  |  | 369,000 |
Weighted-average grant date fair value | $ | — |  |  | $ | 9.40 |
Bausch+ Lomb Share-Based Awards |  |  |
Stock options |  |  |
Granted | 3,453,000 |  |  | 6,455,000 |
Weighted-average exercise price | $ | 18.21 |  |  | $ | 18.00 |
Weighted-average grant date fair value | $ | 5.33 |  |  | $ | 4.55 |
RSUs |  |  |
Granted | 3,165,000 |  |  | 4,205,000 |
Weighted-average grant date fair value | $ | 17.97 |  |  | $ | 17.22 |
TSR performance-based RSUs |  |  |
Granted | 1,175,000 |  |  | — |
Weighted-average grant date fair value | $ | 27.65 |  |  | $ | — |
Organic Revenue Growth performance-based RSUs |  |  |
Granted | 142,000 |  |  | — |
Weighted-average grant date fair value | $ | 17.96 |  |  | $ | — |

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