Company: PRGO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001585364-25-000156
Chunk: 109

Company: PERRIGO Co plc
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 7
Chunk 109
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 the Company signed a definitive agreement to sell the Richard Bittner Business to HBI Health & Beauty Innovations Limited. As a result, we determined an impairment indicator existed and prepared a quantitative goodwill impairment test. We determined the carrying value of this business exceeded the fair value and recorded an impairment charge of $1.2 million within our CSCI segment during the three months ended March 29, 2025. On April 11, 2025, we completed the sale of the Richard Bittner Business to HBI Health & Beauty Innovations Limited (refer to Note 3 and Note 10).Intangible AssetsIntangible assets and related accumulated amortization consisted of the following(1) (in millions): September 27, 2025December 31, 2024 GrossAccumulatedAmortizationGrossAccumulatedAmortizationIndefinite-lived intangibles:Trademarks, trade names, and brands$3.5 $— $3.3 $— In-process research and development1.9 — 1.9 — Total indefinite-lived intangibles$5.4 $— $5.2 $— Definite-lived intangibles:Distribution and license agreements and supply agreements$106.7 $66.0 $101.9 $59.5 Developed product technology, formulations, and product rights351.6 243.5 341.5 227.2 Customer relationships and distribution networks1,840.8 1,233.6 1,750.6 1,112.3 Trademarks, trade names, and brands2,438.1 794.0 2,301.5 672.8 Non-compete agreements2.1 2.1 2.1 2.1 Total definite-lived intangibles$4,739.3 $2,339.2 $4,497.6 $2,073.9 Total intangible assets$4,744.7 $2,339.2 $4,502.8 $2,073.9 (1) Certain intangible assets are denominated in currencies other than U.S. dollar; therefore, their gross and net carrying values are subject to foreign currency movements. As a result of entering into a binding agreement to sell the Dermacosmetics Business, during the three months ended September 27,