Company: PRGO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001585364-25-000156
Chunk: 241

Company: PERRIGO Co plc
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 15
Chunk 241
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 assets held for sale of the Hospital & Specialty Business and the Rare Diseases Business, decreased restructuring costs associated primarily with Project Energize and Supply Chain Reinvention activities, and lower variable costs of $35.4 million. These were partially offset by the absence of the prior year gain on the sale of branded products.

Unallocated Expenses

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

Three Months EndedNine Months EndedSeptember 27, 2025September 28, 2024September 27, 2025September 28, 2024$59.5 $70.7 $175.0 $253.6 

The decrease of $11.2 million and $78.6 million in unallocated expenses during the three and nine months ended September 27, 2025, respectively, compared to the prior year periods were due primarily to a decrease in expenses for litigation, as well as lower selling and administrative costs due primarily to Project Energize. 

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

Interest expense, net, Other (income) expense, net and Loss on extinguishment of debt

Three Months EndedNine Months Ended(in millions)September 27, 2025September 28, 2024September 27, 2025September 28, 2024Interest expense, net$40.6 $57.6 $119.2 $144.7 Other (income) expense, net$9.6 $(4.1)$11.9 $(0.5)Loss on extinguishment of debt$— $5.1 $— $5.2 

Interest expense, net

The $17.0 million and $25.5 million decrease in Interest expense, net during the three and nine months ended September 27, 2025, respectively, compared to the prior year periods was due primarily to the absence of interest expense associated with the de-designation of interest rate swap agreements in the prior year and a decrease in interest expense associated with a decrease in outstanding borrowings under our Senior Secured Credit Facilities.

Other (income) expense, net

The $13.7 million and $12.4 million decrease in Other (income) expense, net