Company: PRGO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001585364-25-000014
Chunk: 120

Company: PERRIGO Co plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 120
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 $90.8 $57.5 Developed product technology, formulations, and product rights341.5 227.2 534.0 238.4 Customer relationships and distribution networks1,750.6 1,112.3 1,868.1 1,108.9 Trademarks, trade names, and brands2,301.5 672.8 2,502.0 609.3 Non-compete agreements2.1 2.1 2.1 2.1 Total definite-lived intangibles$4,497.6 $2,073.9 $4,997.0 $2,016.2 Total intangible assets$4,502.8 $2,073.9 $5,002.3 $2,016.2 (1) Certain intangible assets are denominated in currencies other than U.S. dollar; therefore, their gross and net carrying values are subject to foreign currency movements. As a result of the Company completing the sale of the Hospital & Specialty Business during the year ended December 31, 2024, $0.2 million net book value of associated intangible assets were divested (refer to Note 3). As a result of the Company completing the sale of the Rare Diseases Business during the year ended December 31, 2024, $162.0 million net book value of associated intangible assets were divested (refer to Note 3).During the three months ended December 31, 2024, we identified impairment indicators related to our Prevacid® definite-lived intangible asset in our CSCA segment. The indicators related to a repriortization of brand support resulting in expected long-term decline in contribution margin. We determined the asset was not recoverable and the concluded fair value resulted in an asset impairment of $38.6 million (refer to Note 10). The remaining weighted-average useful life for our amortizable intangible assets by asset class at December 31, 2024 was as follows:Amortizable Intangible Asset Category Remaining Weighted-Average Useful Life (Years)Distribution and license agreements and supply agreements13Developed product technology, formulations, and product rights12Customer relationships and distribution networks 9Trademarks, trade names, and brands 15

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Perrigo Company plc - Item 8Note 9

We recorded amortization expense of $228.5 million