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      "text": "1. Products with sales outside the United States impacted by F/X changes. 2. This is a non-GAAP measure or ratio. See Slide 1 and Appendix for further information on non-GAAP measures and ratios. 3. Includes transactional FX and NCI. Currency headwind (translational and transactional) was ~$40M to Adj. EBITDA for YTD2023. The YTD2022 transactional FX impact was a gain of $15M. 4. Effective in the first quarter of 2023, certain products historically included in the reported results of the Pharmaceuticals segment are now included in the reported results of the Vision Care segment and certain products included in the reported results of the Vision Care segment are now included in the reported results of the Pharmaceuticals segment. Management believes these movements are necessary in order to better align these products with the groupings of similar products. The net impact of these product movements was not material to the periods presented. Prior period presentations of segment revenues have been conformed to the current segment reporting structure. 5. YTD 2022 results were not fully burdened by all stand-up costs associated with the separation.",
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      "text": "Bausch + Lomb 1Q23-2Q23 1Q22-2Q225 Reported Change Constant Currency Change2 Vision Care Revenue4 $1,233M $1,148M 7% 10% Surgical Revenue $378M $358M 6% 8% Pharmaceuticals Revenue4 $355M $324M 10% 12% Total Revenue $1,966M $1,830M 7% 10% Adj. Gross Profit2 $1,177M $1,103M 7% 9% Adj. Gross Margin² 59.9% 60.3% (40 bps) R&D $162M $152M (7%) (7%) R&D % of Revenues 8.2% 8.3% Adj. SG&A2 $789M $700M (13%) (15%) Adj. SG&A % of Revenues³ 40.1% 38.3% Adj. EBITA2 $226M $251M (10%) (6%) Depreciation $71M $64M 11% 11% Stock Based Compensation $42M $27M 56% 56% Adj. EBITDA 2,3 $320M $352M (9%) (5%) Adj. EBITDA Margin² 16.3% 19.2% Adj. Net Income Attributable to Bausch + Lomb² $99M $188M (47%) (40%) Adj EPS Attributable to Bausch + Lomb2,4 $0.28 $0.54",
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