Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 265

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 15
Chunk 265
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 available, or any change in conditions relating to the war in Ukraine and conflicts in the Middle East, inflation and interest rates, the status of material contingent liabilities, financial market volatility, tariffs, potential tariff and trade policies or other uncertainties have a material impact on our capital requirements. 

Cash and Cash Equivalents 

(in millions)March 29, 2025December 31, 2024Cash and cash equivalents$409.9 $558.8 Working capital(1)$1,067.7 $915.3 

(1) Working capital represents current assets less current liabilities, excluding cash and cash equivalents, assets and liabilities held for sale and current indebtedness. 

Cash, cash equivalents, cash flows from operations, and borrowings available under our credit facilities are expected to be sufficient to finance our liquidity and capital expenditures in both the short and long term. Although our lenders have made commitments to make funds available to us in a timely fashion under our revolving credit agreements and overdraft facilities, if economic conditions worsen or new information becomes publicly available impacting the institutions’ credit rating or capital ratios, these lenders may be unable or unwilling to lend money pursuant to our existing credit facilities. Should our outlook on liquidity requirements change substantially from current projections, we may seek additional sources of liquidity in the future.

Cash Flows

The following table includes summarized cash flow activities:

Three Months Ended(in millions)March 29, 2025March 30, 2024$ ChangeNet cash for operating activities$(64.5)$(1.4)$(63.1)Net cash for investing activities(25.7)(23.5)(2.2)Net cash for financing activities(61.8)(60.4)(1.4)Effect of exchange rate changes on cash and cash equivalents10.3 (7.5)17.8 Net decrease in cash and cash equivalents $(141.7)$(92.8)$(48.9)

Net cash for Operating Activities 

The $63.1 million decrease in operating cash flow was primarily driven by a decrease in cash flow from the change in net earnings after adjustments for items including depreciation and amortization, restructuring and share-based compensation partially offset by higher working capital, primarily related to litigation and restructuring payments. 

Net cash for Investing Activities

Net cash for investing activities was comparable to the prior year period. 

Net cash for Financing Activities 

Net cash for financing activities was comparable to the prior year period. 

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Perrigo Company plc