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      "text": "17.8% Adj. EBITDA Margin² -$51M FY23 FX Headwinds -$30M FY23 Lynchburg",
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      "text": "61.0% Adj. Gross Margin² +130 bps y/y",
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      "text": "1. Products with sales outside the United States impacted by F/X changes.\n2. This is a non-GAAP measure or ratio. See Slide 1 and Appendix for further information on non-GAAP measures and ratios.\n3. 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\nresults 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.\nThe 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.\n4. Includes transactional FX and NCI. FX headwinds were -$51M (-$23M translational and -$28M transactional) to Adj. EBITDA for FY23.",
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      "text": "Bausch + Lomb\nFY23\nFY22\nReported Change\nConstant Currency Change²\nVision Care Revenue³\n$2,543M\n$2,369M\n7%\n10%\nSurgical Revenue\n$767M\n$718M\n7%\n7%\nPharmaceuticals Revenue³\n$836M\n$681M\n23%\n24%\nTotal Revenue\n$4,146M\n$3,768M\n10%\n12%\nAdj. Gross Profit²\n$2,527M\n$2,249M\n12%\n14%\nAdj. Gross Margin²\n61.0%\n59.7%\n130 bps\nAdj. R&D²\n$322M\n$307M\n(5%)\n(5%)\nAdj. R&D % of Revenue\n7.8%\n8.1%\nAdj. SG&A²\n$1,650M\n$1,421M\n(16%)\n(17%)\nAdj. SG&A % of Revenue\n39.8%\n37.7%\nAdj. EBITA²\n$555M\n$520M\n7%\n12%\nDepreciation\n$142M\n$135M\n5%\n4%\nStock Based Compensation\n$74M\n$62M\n19%\n19%\nAdj. EBITDA²,⁴\n$738M\n$720M\n3%\n6%\nAdj. EBITDA Margin²\n17.8%\n19.1%\nAdj. Net Income Attributable to B+L²\n$258M\n$375M\n(31%)\n(25%)\nAdj. EPS Attributable to B+L²\n$0.73\n$1.07",
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