SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

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

The components and classification of share-based compensation expense related to stock options, PSUs and RSUs directly attributable to those employees specifically identified as Bausch + Lomb employees for the three and six months ended June 30, 2023 and 2022 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2023		2022		2023		2022
Stock options	$	2	$	1	$	6	$	2
PSUs/RSUs	16		10		36		19
Share-based compensation expense	$	18	$	11	$	42	$	21
Research and development expenses	$	3	$	2	$	4	$	4
Selling, general and administrative expenses	15		9		38		17
Share-based compensation expense	$	18	$	11	$	42	$	21

Summary of share-based awards granted

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

	Six Months Ended June 30,
	2023		2022
Stock options
Granted	3,130,000		6,455,000
Weighted-average exercise price	$	18.16	$	18.00
Weighted-average grant date fair value	$	5.40	$	4.55
RSUs
Granted	2,888,000		3,207,000
Weighted-average grant date fair value	$	17.97	$	17.92
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	$	—