{ "docId": "019de072-1de2-7119-a555-9ff409e7e548", "docSlug": "506aa41f1d83c0fffcc1a747d59c4e2b", "documentTitle": "Bausch Health Companies | Results Presentation Deck | 86 slides", "authorId": "bausch-health-companies", "authorName": "Bausch Health", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2022-02-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 3, "pageCount": 86, "prevPage": 2, "nextPage": 4, "slideType": "disclaimer", "function": "other", "density": "balanced", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de072-1de2-7119-a555-9ff409e7e548/3", "deckHref": "/decks/019de072-1de2-7119-a555-9ff409e7e548", "deckJsonHref": "/decks/019de072-1de2-7119-a555-9ff409e7e548.json", "deckAnchorHref": "/decks/019de072-1de2-7119-a555-9ff409e7e548#slide-3", "components": [ { "bbox": { "h": 0.75, "w": 0.48, "x": 0.06, "y": 0.14 }, "kind": "disclaimer", "text": "To supplement the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures and rates including (i) Adjusted EBITDA, (ii) Adjusted EBITA, (iii) Adjusted EBITA Margin, (iv) Adjusted Gross Profit, (v) Adjusted Segment Gross Profit, (vi) Adjusted Gross Margin, (vii) Adjusted Segment Gross Margin, (viii) Adjusted G&A, (ix) Adjusted SG&A Expense, (x) Total Adjusted Operating Expense, (xi) Adjusted Net Income, (xii) Adjusted Tax Rate, (xiii) Organic Revenue, (xiv) Organic Change/Organic Growth, (xv) Constant Currency, (xvi) Adjusted Cash Flows from Operations and (xvii) Bausch Pharma Revenue. Management uses some of these non-GAAP measures and non-GAAP ratios as key metrics in the evaluation of Company performance and the consolidated financial results and, in part, in the determination of cash bonuses for its executive officers. The Company believes these non-GAAP measures and non-GAAP ratios are useful to investors in their assessment of our operating performance and the valuation of the Company. In addition, these non-GAAP measures and non-GAAP ratios address questions the Company routinely receives from analysts and investors and, in order to assure that all investors have access to similar data, the Company has determined that it is appropriate to make this data available to all investors. However, these measures and ratios are not prepared in accordance with GAAP nor do they have any standardized meaning under GAAP. In addition, other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures and ratios. Accordingly, our non-GAAP financial measures and ratios may not be comparable to such similarly titled non-GAAP measures and ratios. We caution investors not to place undue reliance on such non-GAAP measures and non-GAAP ratios, but instead to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures and non-GAAP ratios have limitations as analytical tools and should not be considered in isolation. They should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. The reconciliations of these historic non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are shown in the Non-GAAP appendix hereto. However, for guidance purposes, the Company does not provide reconciliations of projected Adjusted EBITDA (non-GAAP) to projected GAAP net income (loss), projected Adjusted Cash Flows from Operations (non-GAAP) to projected GAAP Cash Generated from Operations, projected Adjusted Gross Margin (non-GAAP) to projected GAAP Gross Margin, projected Adjusted SG&A Expense to projected GAAP S,G&A Expense, projected Adjusted Tax Rate to projected GAAP tax rate and projected organic growth (non-GAAP) to projected reported revenue growth, in each case due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Many of the adjustments and exclusions used to calculate the projected non-GAAP measures may vary significantly based on actual events, so the Company is not able to forecast on a GAAP basis with reasonable certainty all adjustments needed in order to provide a GAAP calculation of these projected amounts. The adjustments of these adjustments may be material and, therefore, could result in the GAAP amount being materially different from (including materially less than) the projected non-GAAP measures. For further information on non-GAAP financial measures and ratios, please see the Non-GAAP Appendix.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d5442f20-d9e5-42d7-9a0d-af92ecb3b85f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.04, "x": 0.92, "y": 0.05 }, "kind": "image", "text": null, "attrs": null, "subkind": "icon-grid", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8a5ef81a-65d3-4892-bb07-2aa39ec94526", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.45, "x": 0.06, "y": 0.06 }, "kind": "title", "text": "Non-GAAP Information", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bc66079d-39bd-4cae-8cc1-464739d3920b", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }