Company: PRGO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001585364-25-000014
Chunk: 224

Company: PERRIGO Co plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 224
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 to fair value during the reporting period. Rare Diseases BusinessDuring the year ended December 31, 2024, we prepared a goodwill impairment test utilizing the estimated closing consideration resulting from the definitive agreement to sell the Rare Disease business to ESTEVE. The estimated consideration included an upfront cash payment and contingent earn-out milestone payments. We determined the carrying value of this business exceeded the fair value and recorded an impairment in the CSCI segment (refer to Note 9). On July 10, 2024, we completed the sale of our Rare Diseases Business to ESTEVE. The measurement of consideration received included a non-recurring valuation of the contingent earn-out milestone payments at $34.5 million utilizing a Monte Carlo simulation. The approach determined the expected value of achieving the milestone payments based on adjusted revenue projections for the Rare Diseases Business and the cash flows were discounted (Refer to Note 3). Hospital & Specialty Business During the year ended December 31, 2024, we prepared a goodwill impairment test utilizing the estimated closing consideration resulting from the definitive agreement to sell the Hospital & Specialty Business to Genesis Capital. The estimated consideration included an upfront cash payment. We determined the carrying value of this business exceeded the fair value and recorded an impairment in the CSCI segment (refer to Note 9). The disposal group was divested on November 1, 2024 (refer to Note 3).Prevacid® Branded ProductDuring the three months ended December 31, 2024, 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.

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Perrigo Company plc - Item 8Note 10

Fixed Rate Long-term DebtOur fixed rate long-term debt consisted of the following (in millions): Year EndedDecember 31, 2024December 31, 2023Level 1Level 2Level 1Level 2Public Bonds Carrying value (excluding discount)$2,221.8 $— $2,244.4 $— Fair value $2,083.9 $— $2,062.2 $— The fair values of our public bonds for all periods were based on quoted market prices. 

The carrying amounts of our other financial instruments, consisting of cash and cash equivalents,