Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 94

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part II, Item 1
Chunk 94
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 12.8 — — — Total assets$— $— $17.8 $— $— $34.5 (1) During the year ended December 31, 2024, contingent consideration was recognized as a result of the divestiture of the Rare Diseases Business.(2) During the three months ended March 29, 2025, goodwill within the Richard Bittner Business with a carrying value of $6.2 million was written down to a fair value of $5.0 million.(3) We measured the net assets held for sale for impairment purposes and recorded a total impairment of $1.9 million, resulting in a net asset held for sale balance of $12.8 million (refer to Note 3).

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Perrigo Company plc - Item 1Note 9

There were no transfers within Level 3 fair value measurements during the three months ended March 29, 2025 or the year ended December 31, 2024 (refer to Note 10 for a discussion of derivatives).Non-recurring Fair Value MeasurementsThe non-recurring fair values represent only those assets whose carrying values were adjusted to fair value during the reporting period.Goodwill Richard Bittner BusinessDuring the three months ended March 29, 2025, we prepared a goodwill impairment test utilizing the estimated closing consideration resulting from the definitive agreement to sell the Richard Bittner Business to HBI Health & Beauty Innovations Limited. We determined the carrying value of this business exceeded the fair value and recorded an impairment in the CSCI segment (refer to Note 8).Assets (liabilities) held for sale, netDuring the three months ended March 29, 2025, we classified the Richard Bittner Business disposal group as held for sale, prepared a fair value analysis and estimated remaining costs to sell. We determined the carrying value of the net assets held for sale exceeded the fair value less cost to sell and recorded an impairment in the CSCI segment (refer to Note 3).Fixed Rate Long-term Debt    Our fixed rate long-term debt consisted of the following (in millions): March 29, 2025December 31, 2024Public BondsLevel 1Level 1Carrying value (excluding discount)$2,238.3 $2,221.8 Fair value$2,118.1 $2,083.9 The fair values of our public bonds for all