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RESTRUCTURING, INTEGRATION, SEPARATION AND IPO COSTS
12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
RESTRUCTURING, INTEGRATION, SEPARATION AND IPO COSTS RESTRUCTURING, INTEGRATION, SEPARATION AND IPO COSTS
Restructuring and integration costs
The Company evaluates opportunities to improve its operating results and implements cost savings programs to streamline its operations and eliminate redundant processes and expenses. Restructuring and integration costs are expenses associated with the implementation of these cost savings programs and include expenses associated with: (i) reducing headcount, (ii) eliminating real estate costs associated with unused or under-utilized facilities and (iii) implementing contribution margin improvement and other cost reduction initiatives.
The Company incurred $29 million, $58 million and $30 million of restructuring and integration-related costs during 2024, 2023 and 2022, respectively.
Separation costs, Separation-related costs, IPO Costs and IPO-related Costs
The Company has incurred, and will incur, costs associated with activities relating to the B+L Separation. During 2022, the Company incurred costs associated with activities relating to the Solta IPO, which was suspended in June 2022. These B+L Separation and Solta IPO activities include: (i) separating the Bausch + Lomb and Solta Medical businesses from the remainder of the Company, (ii) completing the B+L IPO and preparing for the suspended Solta IPO and (iii) the actions necessary for Bausch + Lomb to become an independent publicly traded entity. Separation and IPO costs are incremental costs directly related to the B+L Separation and the suspended Solta IPO and include, but are not limited to: (i) legal, audit and advisory fees, (ii) talent acquisition costs and (iii) costs associated with establishing a new board of directors and related board committees for Bausch + Lomb. Separation costs included in Restructuring, integration, separation and IPO
costs for 2024 and 2023 are not material. Separation and IPO costs included in Restructuring, integration, separation and IPO costs for 2022 were $33 million.
The Company has incurred, and expects to continue to incur, incremental costs with respect to the B+L Separation. These separation-related costs include, but are not limited to, rebranding costs, advisory fees and costs associated with facility relocation and/or modification. Included in Selling, general and administrative for 2024 and 2023 are Separation-related costs of $13 million and $22 million, respectively, and for 2022, Separation-related and IPO-related costs of $94 million.
The extent and timing of future charges and costs to complete the B+L Separation cannot be reasonably estimated at this time and could be material.