Company: PRGO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001585364-25-000014
Chunk: 112

Company: PERRIGO Co plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 112
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9.7 Goodwill 559.5 Definite-lived intangible assets:Trademarks and trade names1,124.0 Developed product technology185.1 Distribution networks 84.4 Indefinite lived intangibles:In-process research and development 52.7 Total intangible assets 1,446.2 Deferred income taxes12.4 Other non-current assets0.8 Total assets2,220.4 Liabilities assumed:Accounts payable$43.4 Payroll and related taxes16.1 Accrued customer programs 9.0 Other accrued liabilities 8.9 Accrued income taxes0.5 Deferred income taxes186.2 Other non-current liabilities 10.6 Total liabilities274.7 Non-Controlling Interest 0.1 Net Assets Acquired $1,945.6 Goodwill of $559.5 million arising from the acquisition consists largely of the anticipated growth from new product sales, sales to new customers, HRA Pharma's assembled workforce, and the synergies expected from combining the operations of Perrigo and HRA Pharma. Goodwill of $141.7 million and $417.8 million was allocated to our CSCA and CSCI segments, respectively, none of which is deductible for income tax purposes. The definite-lived intangible assets acquired consist of trademarks and trade names, developed product technologies, and distribution networks. Trademarks and trade names were assigned useful lives of 20 years. Developed product technologies were assigned 8 to 18-year useful lives. Distribution networks were assigned useful lives ranging from 2 to 21 years reflecting the intent to integrate certain external distributors and sales forces within the CSCI segment. Trademarks and trade names, developed product technology, and IPR&D were valued using the multi-period excess earnings method. Significant judgment was applied in estimating the fair value of the intangible assets acquired, which involved the use of significant estimates and assumptions with respect to the timing and amounts of cash flow projections, including revenue growth rates, projected profit margins, and discount rates.

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Perrigo Company plc - Item 8 Note 3

Nestlé’s Gateway Infant Formula Plant and GoodStart® infant formula brand AcquisitionOn November 1, 2022, we purchased Nestlé’s Gateway infant formula plant in Eau Claire, Wisconsin, along with the U.S. and Canadian rights to the GoodStart® infant formula brand ("Gateway"), for $110.0 million