Bausch + Lomb Corp 2025年度报告

FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the Fiscal Year EndedDecember 31, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the transition period from____________to ____________ Commission File Number: 001-41380 Bausch + Lomb Corporation(Exact Name of Registrant as Specified in its Charter) 98-1613662 (I.R.S. Employer Identification No.) 520 Applewood Crescent, Vaughan, Ontario, Canada L4K 4B4(Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code(905)695-7700 Securities registered pursuant to Section12(b) of the Act: Securities registered pursuant to section12(g) of the Act: None(Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.YesNo Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or Section15(d) of the SecuritiesExchange Act of 1934 during the preceding 12months (orfor such shorter period that the registrant was required to file such reports), and (2)hasbeen subject to such filing requirements for the past 90days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T during the preceding 12months (orfor such shorter period that the registrant was required to submit suchfiles).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerginggrowth company” in Rule12b-2 of the Exchange Act. Large acceleratedfilerAccelerated filer☐Non-accelerated filer(Donot check if a smallerreporting company)☐Smaller reportingcompany☐Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant includedin the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (asdefined in Rule12b-2 of the Exchange Act). Yes☐No☒ The aggregate market value of the common shares held by non-affiliates of the registrant as of the last business day of the registrant’s mostrecently completed second fiscal quarter was $556,990,755based on the last reported sale price on the NewYork Stock Exchange onJune30,2025. The number of outstanding shares of the registrant’s common shares as of February11, 2026 was 354,318,198. DOCUMENTS INCORPORATED BY REFERENCE PartIII incorporates certain information by reference from the registrant’s proxy statement for the 2026 Annual Meeting of Shareholders. Suchproxy statement will be filed no later than 120days after the close of the registrant’s fiscal year ended December31, 2025. TABLE OF CONTENTS GENERAL INFORMATION PART I Item1.Business1Item1A.Risk Factors18Item1B.Unresolved Staff Comments55Item 1C.Cybersecurity55Item2.Properties58Item3.Legal Proceedings58Item4.Mine Safety Disclosures58PART IIItem5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities59Item 6.Reserved62Item7.Management’s Discussion and Analysis of Financial Condition and Results of Operations63Item7A.Quantitative andQualitative Disclosures About Market Risk93Item8.Financial Statements and Supplementary Data93Item9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure93Item9A.Controls and Procedures93Item9B.Other Information94Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections94PART IIIItem10.Directors, Executive Officers and Corporate Governance95Item11.Executive Compensation95Item12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters95Item13.Certain Relationships and Related Transactions, and Direct