SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2024

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 months ended March 31, 2024 and 2023:

	Three Months Ended March 31,
(in millions)	2024		2023
Stock options	$	3	$	6
RSUs	30		35
	$	33	$	41
Research and development expenses	$	3	$	3
Selling, general and administrative expenses	30		38
	$	33	$	41

Summary of share-based awards

Share-based awards granted for the three months ended March 31, 2024 and 2023 consist of:

	Three Months Ended March 31,
	2024		2023
Bausch Health Share-Based Awards
Stock options
Granted	—		999,000
Weighted-average exercise price	$	—	$	9.25
Weighted-average grant date fair value	$	—	$	4.87
Time-based RSUs
Granted	4,246,000		4,133,000
Weighted-average grant date fair value	$	9.39	$	9.18
Adjusted Operating Cash Flow performance-based RSUs
Granted	1,232,000		647,000
Weighted-average grant date fair value	$	9.89	$	10.57
Bausch+ Lomb Share-Based Awards
Stock options
Granted	1,317,000		2,679,000
Weighted-average exercise price	$	16.85	$	18.27
Weighted-average grant date fair value	$	4.92	$	5.52
RSUs
Granted	2,967,000		2,358,000
Weighted-average grant date fair value	$	16.84	$	18.04
TSR performance-based RSUs
Granted	826,000		1,175,000
Weighted-average grant date fair value	$	21.21	$	27.65
Organic Revenue Growth performance-based RSUs
Granted	379,000		142,000
Weighted-average grant date fair value	$	16.08	$	17.96
OPG performance-based RSUs
Granted	1,758,000		—
Weighted-average grant date fair value	$	17.04	$	—