Company: PRGO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001585364-25-000122
Chunk: 148

Company: PERRIGO Co plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 7
Chunk 148
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— 273.5 — — 46.8 — Interest rate swap agreements— 34.3 — — 22.6 — Total liabilities$— $313.6 $— $— $75.0 $— Measured at fair value on a non-recurring basis:Assets:Contingent consideration(1) $— $— $— $— $— $34.5 Definite-lived intangible assets(2)— — 5.5 — — 8.2 Total assets$— $— $5.5 $— $— $42.7 (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 June 28, 2025, we assessed the fair value of our Prevacid® branded product at $5.5 million, resulting in an asset impairment charge of $1.5 million. During the three months ended December 31, 2024, we assessed the fair value of our Prevacid® branded product at $8.2 million, resulting in an asset impairment charge of $38.6 million.

15

Perrigo Company plc - Item 1Note 9

There were no transfers within Level 3 fair value measurements during the three and six months ended June 28, 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.Prevacid® Branded ProductDuring the three months ended June 28, 2025, we measured the impairment of our Prevacid® branded product, a definite-lived intangible asset. We utilized a discounted cash flow technique to estimate the fair value of the asset. Significant valuation inputs and assumptions relate to our projected future contribution margin, which include our estimated market share at planned investment levels and the expected selling price. We concluded the fair value was $5.5 million. Fixed Rate Long-term Debt    Our fixed rate long-term debt consisted of the following (in millions): June 28, 2025December 31, 2024Public BondsLevel 1Level 1Carrying value (excluding discount