XML 75 R64.htm IDEA: XBRL DOCUMENT v3.25.3
FINANCING ARRANGEMENTS - Senior Secured Credit Facilities (Details)
9 Months Ended
Nov. 01, 2024
USD ($)
Sep. 30, 2025
USD ($)
rate
shares
Apr. 08, 2025
USD ($)
shares
Feb. 11, 2025
USD ($)
Dec. 31, 2024
USD ($)
shares
Jun. 01, 2022
shares
May 10, 2022
USD ($)
Debt Instrument [Line Items]              
Common shares, outstanding (in shares) | shares   370,473,221     367,843,058    
Principal amount outstanding   $ 20,529,000,000     $ 20,480,000,000    
Total long-term debt and other   $ 21,042,000,000     21,616,000,000    
Remaining quarterly amortization payments $ 400,000,000            
Bausch + Lomb              
Debt Instrument [Line Items]              
Common shares, outstanding (in shares) | shares     185,468,421     310,449,643  
Line of Credit | Applicable Rate              
Debt Instrument [Line Items]              
Variable rate (as a percent)   4.25%          
Term Loan B Facility Due February 2027              
Debt Instrument [Line Items]              
Principal amount             $ 2,500,000,000
Principal amount outstanding   $ 0     2,187,000,000    
Total long-term debt and other   0     2,166,000,000    
February 2027 Term Loan B Facility | Secured Notes              
Debt Instrument [Line Items]              
Maximum percentage, present value of cash flows of new debt             10.00%
Principal amount outstanding     $ 2,156,000,000        
2025 Credit Agreement              
Debt Instrument [Line Items]              
Dividend and distribution threshold   $ 1,600,000,000          
2025 Credit Agreement | SOFR Rate              
Debt Instrument [Line Items]              
Variable rate, floor (as a percent)   0.00%          
Variable rate (as a percent)   1.00%          
2025 Credit Agreement | SOFR Rate | Maximum              
Debt Instrument [Line Items]              
Variable rate, floor (as a percent)   1.00%          
2025 Credit Agreement | Bausch + Lomb | Asset Pledged as Collateral              
Debt Instrument [Line Items]              
Common shares, outstanding (in shares) | shares   185,468,421          
2025 Credit Agreement | Line of Credit              
Debt Instrument [Line Items]              
Commitment fee (as a percent)   0.50%          
2025 Credit Agreement | Line of Credit | SOFR, EUTIBOT and Term CORRA              
Debt Instrument [Line Items]              
Variable rate (as a percent)   3.25%          
2025 Credit Agreement | Line of Credit | Applicable Rate              
Debt Instrument [Line Items]              
Variable rate (as a percent)   0.25%          
Number of debt instruments | rate   2          
2025 Credit Agreement | Line of Credit | Applicable Rate | Maximum              
Debt Instrument [Line Items]              
Secured leverage ratio (not greater than)   2.6          
2025 Credit Agreement | Line of Credit | Applicable Rate | Minimum              
Debt Instrument [Line Items]              
Secured leverage ratio (not greater than)   2.1          
Term Loan B Facility Due 2030              
Debt Instrument [Line Items]              
Principal amount     3,000,000,000        
Annual amortization rate (as a percent)   1.00%          
Quarterly amortization payments   $ 30,000,000          
Remaining quarterly amortization payments   $ 150,000,000          
Term Loan B Facility Due 2030 | Federal Funds Effective Rate and Overnight Bank Funding Rate              
Debt Instrument [Line Items]              
Variable rate, floor (as a percent)   0.00%          
Variable rate (as a percent)   0.50%          
Term Loan B Facility Due 2030 | SOFR Rate              
Debt Instrument [Line Items]              
Variable rate, floor (as a percent)   0.00%          
Stated interest rate on debt (as a percent)   6.25%          
Term Loan B Facility Due 2030 | Alternate Base Rate              
Debt Instrument [Line Items]              
Stated interest rate on debt (as a percent)   5.25%          
Term Loan B Facility Due 2030 | Secured Notes              
Debt Instrument [Line Items]              
Disposition of property threshold   $ 100,000,000          
Term Loan B Facility Due 2030 | Line of Credit              
Debt Instrument [Line Items]              
Dividend and distribution threshold   $ 50,000,000          
Revolving Credit Facility Due 2030 | Federal Funds Effective Rate and Overnight Bank Funding Rate              
Debt Instrument [Line Items]              
Variable rate, floor (as a percent)   0.00%          
Variable rate (as a percent)   0.50%          
Revolving Credit Facility Due 2030 | SOFR Rate | Maximum              
Debt Instrument [Line Items]              
Variable rate, floor (as a percent)   0.00%          
Revolving Credit Facility Due 2030 | Canadian Overnight Repo Rate Average              
Debt Instrument [Line Items]              
Variable rate (as a percent)   0.00%          
Revolving Credit Facility Due 2030 | Canadian Overnight Repo Rate Average | One Month Interest Period              
Debt Instrument [Line Items]              
Variable rate (as a percent)   0.29547%          
Revolving Credit Facility Due 2030 | Canadian Overnight Repo Rate Average | Three Month Interest Period              
Debt Instrument [Line Items]              
Variable rate (as a percent)   0.32138%          
Revolving Credit Facility Due 2030 | Canadian Overnight Repo Rate Average | Maximum              
Debt Instrument [Line Items]              
Variable rate (as a percent)   1.00%          
Revolving Credit Facility Due 2030 | Canadian Overnight Repo Rate Average | Minimum              
Debt Instrument [Line Items]              
Variable rate (as a percent)   1.00%          
Revolving Credit Facility Due 2030 | EURIBOR              
Debt Instrument [Line Items]              
Variable rate (as a percent)   0.00%          
Revolving Credit Facility Due 2030 | Line of Credit              
Debt Instrument [Line Items]              
Customary fronting fees (as a percent)   0.125%          
Revolving Credit Facility Due 2030 | Line of Credit | Applicable Rate              
Debt Instrument [Line Items]              
Variable rate (as a percent)   0.125%          
Number of debt instruments | rate   2          
Revolving Credit Facility Due 2030 | Line of Credit | Applicable Rate | Maximum              
Debt Instrument [Line Items]              
Secured leverage ratio (not greater than)   2.6          
Revolving Credit Facility Due 2030 | Line of Credit | Applicable Rate | Minimum              
Debt Instrument [Line Items]              
Secured leverage ratio (not greater than)   2.1          
2032 Senior Secured Notes | Secured Notes              
Debt Instrument [Line Items]              
Percentage of net cash proceeds of pro rata basis with obligations   100.00%          
Senior Secured Credit Facilities              
Debt Instrument [Line Items]              
Stated interest rate on debt (as a percent)   11.00%          
4.875% Senior Notes Due June 2028 | Secured Notes              
Debt Instrument [Line Items]              
Stated interest rate on debt (as a percent)   4.875%          
Principal amount outstanding   $ 1,600,000,000     1,600,000,000    
Total long-term debt and other   1,592,000,000     1,589,000,000    
Bridge Loan | Senior Secured Bridge Term Loan Facility              
Debt Instrument [Line Items]              
Maximum borrowing capacity       $ 700,000,000      
Revolving Credit Facility | 2027 Revolving Credit Facility              
Debt Instrument [Line Items]              
Maximum borrowing capacity             $ 975,000,000
Principal amount outstanding   0     0    
Total long-term debt and other   $ 0     $ 0    
Revolving Credit Facility | 2025 Credit Agreement              
Debt Instrument [Line Items]              
Fixed charge coverage ratio   4.25          
Secured leverage ratio   5.75          
Minimum liquidity   $ 400,000,000          
Revolving Credit Facility | 2025 Credit Agreement | Bausch + Lomb              
Debt Instrument [Line Items]              
Fixed charge coverage ratio   2.00          
Secured leverage ratio   6.50          
Revolving Credit Facility | Revolving Credit Facility Due 2030              
Debt Instrument [Line Items]              
Maximum borrowing capacity     $ 500,000,000        
Alternate term, number of days prior to scheduled maturity in excess of principal amount threshold   91 days          
Alternate maturity, threshold, aggregate principal amount   $ 1,000,000,000          
Principal amount outstanding   0          
Letter of Credit | Revolving Credit Facility Due 2030              
Debt Instrument [Line Items]              
Total long-term debt and other   $ 31,000,000