Bausch Health Companies Inc 2025年度报告

FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the transition period from____________to ____________ Commission 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) Registrant’s telephone number, including area code(514)744-6792 Securities registered pursuant to Section12(b) of the Act: Securities registered pursuant to section12(g) of the Act: (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 if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the 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 Securities ExchangeAct of 1934 during the preceding 12months (orfor such shorter period that the registrant was required to file such reports), and (2)has been subjectto 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 to Rule405of RegulationS-T during the preceding 12months (orfor such shorter period 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, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule12b-2 of the Exchange Act. Large accelerated filer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 with anynew 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 its internalcontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report.☒ If securities are registered pursuant to Securities Act Section 12(b), 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 (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ The number of outstanding shares of the registrant’s common stock as of February13, 2026 was 370,562,428. DOCUMENTS INCORPORATED BY REFERENCE PartIII incorporates certain information by reference from the registrant’s proxy statement for the 2026 Annual Meeting of Shareholders. Such proxystatement 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.BusinessItem1A.Risk FactorsItem1B.Unresolved Staff CommentsItem1C.CybersecurityItem2.PropertiesItem3.Legal ProceedingsItem4.Mine Safety DisclosuresPART IIItem5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchasesof Equity SecuritiesItem 6.ReservedItem7.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem7A.Quantitative andQualitative Disclosures About Market RiskItem8.Financial Statements and Supplementary DataItem9.Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem9A.Controls and ProceduresItem9B.Other InformationItem 9C.Disclosure Regarding Foreign Jurisdictions that Prevent InspectionsPART IIIItem10.Directors, Executive Officers and Corporate GovernanceItem11.Executive CompensationItem12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder MattersItem13.Certain Relationships and Related Transactions, and Director IndependenceItem14.Principal Accounting Fees and ServicesPART IVItem15.Exhibits andFinancial Statement SchedulesItem16.Form 10-K SummarySIGN