Company: PRGO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001585364-25-000014
Chunk: 145

Company: PERRIGO Co plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 145
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9.2 — 9.2 — 12.1 — 12.1 Other— 8.7 —8.7 — 8.4 — 8.4 Total$— $89.6 $51.1 $140.7 $— $96.1 $54.3 $150.4 

99

Perrigo Company plc - Item 8Note 13

The following table sets forth a summary of the changes in the fair value of the Level 3 pension plan assets, which were measured at fair value on a recurring basis (in millions): Year EndedDecember 31, 2024December 31, 2023Assets at beginning of year$54.3 $46.2 Actual return on plan assets1.3 6.2 Purchases, sales and settlements, net(0.7)0.5 Foreign exchange(3.8)1.4 Assets at end of year$51.1 $54.3 The fair value of the insurance contracts is an estimate of the amount that would be received in an orderly sale to a market participant at the measurement date. The amount the plan would receive from the contract holder if the contracts were terminated is the primary input and is unobservable. The insurance contracts are therefore classified as Level 3 investments.Deferred Compensation Plans We have non-qualified plans related to deferred compensation and executive retention that allow certain employees and directors to defer compensation subject to specific requirements. Although the plans are not formally funded, we own insurance policies that had a cash surrender value of $36.7 million and $37.1 million at December 31, 2024 and December 31, 2023, respectively, that are intended as a long-term funding source for these plans. The assets, which are recorded in Other non-current assets, are not a committed funding source and may, under certain circumstances, be subject to claims from creditors. The deferred compensation liability of $31.8 million and $29.9 million at December 31, 2024 and December 31, 2023, respectively, was recorded in Other non-current liabilities.

NOTE 14 - EARNINGS PER SHARE AND SHAREHOLDERS' EQUITY 

Earnings per ShareA reconciliation of the numerators and denominators used in our basic and diluted earnings per share ("EPS") calculation is as follows (in millions):  Year Ended