Bausch+Lomb Results Presentation Deck
Reconciliation of Reported Net Income (Loss) to EBITDA (non-GAAP)¹ and
Adjusted EBITDA (non-GAAP)¹ ($M)
BAUSCH + LOMB
Net (loss) income attributable to Bausch + Lomb Corporation
Interest expense, net
Provision for income taxes
Depreciation and amortization
EBITDA
Adjustments:
Asset impairments
Restructuring, integration and transformation costs
Acquisition-related costs and adjustments (excluding amortization of
intangible assets)
Share-based compensation
Separation costs and separation-related costs
Other adjustments:
IT infrastructure investment
2.
Legal and other professional fees
Acquired in-process research and development costs ²
Other
Adjusted EBITDA (non-GAAP)¹
Three Months Ended
September 30,
$
$
2022
(18)
33
34
93
142
1
11
18
15
187
2021
$ 60
$
-
25
98
183
8
16
1
1
(2)
207
$
$
Nine Months Ended
September 30,
2022
7 $
96
60
286
449
1
14
(5)
45
28
1
6
539
$
2021
131
93
315
539
11
1
45
2
6
1
605
This is a non-GAAP measure or non-GAAP ratio. See Slide 2 and Non-GAAP Appendix for further information on non-GAAP measures and ratios.
Prior to 2022, in calculating Adjusted EBITDA, the Company had excluded expenses associated with acquired IPR&D. Beginning in 2022, the Company no longer excludes acquired IPR&D in its calculation of Adjusted EBITDA. The Company is making this change to
align with evolving practice in this regard. The Company is making this change for 2022 periods and onwards and has not made this change for periods prior to 2022. The Company believes these costs are not material for the periods presented. In particular, the
amount of acquired IPR&D for the third quarter of 2022 was less than $1 million and there was no acquired IPR&D in either the first or second quarter of 2022. For 2021, there was no acquired IPR&D in the third quarter of 2021 and there was $1 million in aggregate
acquired IPR&D for the nine months ended September 30, 2021.
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