SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of the components and classification of share-based compensation expense

The following table summarizes the components and classification of the Company’s share-based compensation expenses related to stock options and RSUs for the three and nine months ended September 30, 2023 and 2022:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2023		2022		2023		2022
Stock options	$	4	$	3	$	14	$	10
RSUs	25		30		89		81
	$	29	$	33	$	103	$	91
Research and development expenses	$	3	$	3	$	8	$	9
Selling, general and administrative expenses	26		30		95		82
	$	29	$	33	$	103	$	91

Summary of share-based awards

Share-based awards granted for the nine months ended September 30, 2023 and 2022 consist of:

	2023		2022
Bausch Health Share-Based Awards
Stock options
Granted	999,000		2,570,000
Weighted-average exercise price	$	9.25	$	23.95
Weighted-average grant date fair value	$	4.87	$	6.60
Time-based RSUs
Granted	4,881,000		6,151,000
Weighted-average grant date fair value	$	9.02	$	11.76
Adjusted Operating Cash Flow performance-based RSUs
Granted	647,000		—
Weighted-average grant date fair value	$	10.57	$	—
ROTC performance-based RSUs
Granted	—		369,000
Weighted-average grant date fair value	$	—	$	9.40
Bausch+ Lomb Share-Based Awards
Stock options
Granted	3,453,000		6,455,000
Weighted-average exercise price	$	18.21	$	18.00
Weighted-average grant date fair value	$	5.33	$	4.55
RSUs
Granted	3,165,000		4,205,000
Weighted-average grant date fair value	$	17.97	$	17.22
TSR performance-based RSUs
Granted	1,175,000		—
Weighted-average grant date fair value	$	27.65	$	—
Organic Revenue Growth performance-based RSUs
Granted	142,000		—
Weighted-average grant date fair value	$	17.96	$	—