Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 12

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 12
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14

Perrigo Company plc - Item 1Note 8

Intangible AssetsIntangible assets and related accumulated amortization consisted of the following(1) (in millions): March 29, 2025December 31, 2024 GrossAccumulatedAmortizationGrossAccumulatedAmortizationIndefinite-lived intangibles:Trademarks, trade names, and brands$3.4 $— $3.3 $— In-process research and development1.9 — 1.9 — Total indefinite-lived intangibles$5.3 $— $5.2 $— Definite-lived intangibles:Distribution and license agreements and supply agreements$104.7 $62.2 $101.9 $59.5 Developed product technology, formulations, and product rights345.0 232.6 341.5 227.2 Customer relationships and distribution networks1,802.9 1,167.4 1,750.6 1,112.3 Trademarks, trade names, and brands2,396.0 729.7 2,301.5 672.8 Non-compete agreements2.1 2.1 2.1 2.1 Total definite-lived intangibles$4,650.7 $2,194.0 $4,497.6 $2,073.9 Total intangible assets$4,656.0 $2,194.0 $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. We recorded amortization expense of $54.8 million and $58.4 million for the three months ended March 29, 2025 and March 30, 2024, respectively.

NOTE 9 - FAIR VALUE MEASUREMENTS 

The table below summarizes the valuation of our financial instruments carried at fair value by the applicable pricing categories (in millions):March 29, 2025December 31, 2024Measured at fair value on a recurring basis:Level 1Level 2Level 3Level 1Level 2Level 3Assets:Foreign currency forward contracts$— $2.1 $—