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OTHER EXPENSE, NET | 3 Months Ended
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Mar. 31, 2025
Other Income and Expenses [Abstract] |
OTHER EXPENSE, NET | OTHER EXPENSE, NET Other expense, net consists of:
|  | Three Months Ended March 31, |  |
(in millions) |  | 2025 |  | 2024 |  |  |  |
Acquired in-process research and development costs |  | $ | 28 |  |  | $ | — |  |  |  |  |
Acquisition-related transaction costs |  | 1 |  |  | — |  |  |  |  |
Litigation and other matters, net of insurance recoveries and restitutions |  | (3) |  |  | 6 |  |  |  |  |
Acquisition-related contingent consideration |  | (11) |  |  | (2) |  |  |  |  |
Gain on sale of assets, net |  | — |  |  | (4) |  |  |  |  |
|  | $ | 15 |  |  | $ | — |  |  |  |  |
Acquired in-process research and development costs for the three months ended March 31, 2025 are related to Bausch + Lomb’s acquisition of Whitecap Biosciences. Acquisition-related contingent consideration for the three months ended March 31, 2025 and 2024 reflects adjustments for changes in estimates in the timing and amounts of expected future royalty and milestone payments and accretion for the time value of money. For the three months ended March 31, 2025, Litigation and other matters primarily relates to restitution received in connection with a certain legal matter. For the three months ended March 31, 2024, Litigation and other matters primarily related to adjustments to provisions for certain legal matters.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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