Company: PRGO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001585364-25-000122
Chunk: 277

Company: PERRIGO Co plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 15
Chunk 277
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 $34.1 million recognized as part of the assets held for sale of the Hospital & Specialty Business and the Rare Diseases Business, and lower selling and administrative costs of $25.7 million due primarily to Project Energize.

Unallocated Expenses

Unallocated expenses are comprised of certain corporate services not allocated to our reporting segments and are recorded in Operating income on the Condensed Consolidated Statements of Operations. Unallocated expenses were as follows (in millions):

Three Months EndedSix Months EndedJune 28, 2025June 29, 2024June 28, 2025June 29, 2024$58.9 $85.5 $115.5 $182.9 

The decrease of $26.6 million in unallocated expenses during the three months ended June 28, 2025, and the decrease of $67.4 million in unallocated expenses during the six months ended June 28, 2025, compared to the prior year periods were due primarily to a decrease in expenses for litigation, as well as administration due primarily to Project Energize. 

49

Perrigo Company plc - Item 2Unallocated, Interest, Other, and Taxes

Interest expense, net, and Other (income) expense, net

Three Months EndedSix Months Ended(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024Interest expense, net$39.6 $44.1 $78.6 $87.1 Other (income) expense, net$2.6 $3.4 $2.2 $3.8 

The $4.5 million and $8.5 million decrease in Interest expense, net during the three and six months ended June 28, 2025, respectively, compared to the prior year periods was due primarily to a decrease in interest expense associated with a decrease in outstanding borrowings under our Senior Secured Credit Facilities. 

Income Taxes (Consolidated) 

The effective tax rates were as follows: 

Three Months EndedSix Months EndedJune 28, 2025June 29, 2024June 28, 2025June 29, 2024115.7 %(42.8)%103.6 %41.1 %

The effective tax rate on the pre-tax income for the three and six months ended June 28,