Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 153

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 7
Chunk 153
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,295.7 Total goodwill$3,320.2 $(1.2)$56.2 $3,375.2 (1) We had accumulated goodwill impairments of $6.1 million as of March 29, 2025 and December 31, 2024.(2) We had accumulated goodwill impairments of $969.6 million and $968.4 million as of March 29, 2025 and December 31, 2024, respectively.Richard Bittner Business GoodwillOn March 10, 2025, the Company signed a definitive agreement to sell the Richard Bittner Business to HBI Health & Beauty Innovations Limited. As a result, we determined an impairment indicator existed and prepared a quantitative goodwill impairment test. We determined the carrying value of this business exceeded the fair value and recorded an impairment charge of $1.2 million within our CSCI segment. On April 11, 2025, we completed the sale of the Richard Bittner Business to HBI Health & Beauty Innovations Limited (refer to Note 3 and Note 9).

14

Perrigo Company plc - Item 1Note 8

Intangible AssetsIntangible assets and related accumulated amortization consisted of the following(1) (in millions): March 29, 2025December 31, 2024 GrossAccumulatedAmortizationGrossAccumulatedAmortizationIndefinite-lived intangibles:Trademarks, trade names, and brands$3.4 $— $3.3 $— In-process research and development1.9 — 1.9 — Total indefinite-lived intangibles$5.3 $— $5.2 $— Definite-lived intangibles:Distribution and license agreements and supply agreements$104.7 $62.2 $101.9 $59.5 Developed product technology, formulations, and product rights345.0 232.6 341.5 227.2 Customer relationships and distribution networks1,802.9 1,167.4 1,750.6 1,112.3 Trademarks, trade names, and brands2,396.0 729.7 2,301.5 672.8 Non-compete agreements2.1 2.1 2.1 2.1 Total definite-lived int