Bausch Health Companies Inc 2025年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934For the Quarterly Period EndedMarch 31, 2025OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number: 001-14956 Bausch Health Companies Inc.(Exact name of registrant as specified in its charter) British Columbia,Canada98-0448205(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)2150 St. Elzéar Blvd. West, Laval, Québec, Canada H7L 4A8(Address of Principal Executive Offices) (Zip Code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “largeaccelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2of the Exchange Act. Large acceleratedfiler☒Accelerated filer☐Non-acceleratedfiler☐Smallerreportingcompany☐Emerginggrowth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latestpracticable date. Common shares, no par value — 369,550,086 shares outstanding as of April 25, 2025. BAUSCH HEALTH COMPANIES INC.FORM 10-QFOR THE QUARTERLY PERIOD ENDED MARCH 31, 2025 INDEX Part I.Financial InformationItem 1.Condensed Consolidated Financial Statements (unaudited)Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 20241Condensed Consolidated Statements of Operations for the three months ended March 31,2025 and 20242Condensed Consolidated Statements of Comprehensive Income (Loss) for the threemonths ended March 31, 2025 and 20243Condensed Consolidated Statements of Shareholders’ Deficit for the three months endedMarch 31, 2025 and 20244Condensed Consolidated Statements of Cash Flows for the three months ended March31, 2025 and 20245Notes to the Condensed Consolidated Financial Statements6Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations40Item 3.Quantitative and Qualitative Disclosures About Market Risk73Item 4.Controls and Procedures73Part II.Other InformationItem 1.Legal Proceedings74Item 1A.Risk Factors74Item 2.Unregistered Sales of Equity Securities and Use of Proceeds76Item 3.Defaults Upon Senior Securities76Item 4.Mine Safety Disclosures76Item 5.Other Information76Item 6.Exhibits76Signatures78i BAUSCH HEALTH COMPANIES INC.FORM 10-QFOR THE QUARTERLY PERIOD ENDED MARCH 31, 2025 Introductory Note Except where the context otherwise requires, all references in this Quarterly Report on Form 10-Q for thequarterly period ended March 31, 2025 (this “Form 10-Q”) to the “Company”, “we”, “us”, “our” or similar words orphrases are to Bausch Health Companies Inc. and its subsidiaries, taken together. In this Form 10-Q, referencesto “$” are to United States (“U.S.”) dollars, references to “€” are to Euros and references to “CAD” are to Canadiandollars. Unless otherwise indicated, the statistical and financial data contained in this Form 10-Q are presented as ofMarch 31, 2025. Forward-Looking Statements This Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Actof 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and may be forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-lookingstatements”), as described in more detail under the heading “Forward-Looking Statements” in Item 2 of Part I ofthis Form 10-Q. Additional information about these factors and about the material factors or assumptionsunderlying such forward-looking statements may be found (i) in our Annual Report on Form 10-K for the yearended December 31, 2024, filed on February 19, 2025, under Item 1A. “Risk Factors”; (ii) under Item 1A. “RiskFactors” of Part II of this Form