Company: PRGO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001585364-25-000122
Chunk: 208

Company: PERRIGO Co plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 7
Chunk 208
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9 Net decrease in cash and cash equivalents $(104.6)$(208.5)$103.9 

Net cash from Operating Activities 

The $3.3 million increase in operating cash flow was primarily driven by lower working capital, primarily related to changes in accrued liabilities and inventory, partially offset by a decrease in cash flow from the change in net earnings after adjustments for items including depreciation and amortization, restructuring and share-based compensation.

Net cash for Investing Activities

The $67.3 million increase in investing cash flow was due primarily to the absence of the settlement of foreign currency derivatives in the prior year, as well as net proceeds received in the current period related to the sale of the Richard Bittner Business.

Net cash for Financing Activities 

The $5.6 million decrease in financing cash flow was due primarily to an increased dividend payout compared to the prior year period.

51

Perrigo Company plc - Item 2Financial Condition, Liquidity and Capital Resources

Borrowings and Capital Resources

Credit Agreements

On April 20, 2022, we and our indirect wholly owned subsidiary, Perrigo Investments, LLC, (the "Borrower") entered into the senior secured credit facilities, which consisted of (i) a $1.0 billion five-year revolving credit facility (the “Revolver”), (ii) a $500.0 million five-year Term Loan A facility (the “Term Loan A Facility” and the Term A Loans thereunder, the "Term A Loans"), and (iii) a $1.1 billion seven-year Term Loan B facility (the “Term Loan B Facility” and the Term B Loans thereunder borrowed on April 20, 2022, the "2022 Term B Loans” and, together with the Revolver and Term Loan A Facility, the "Senior Secured Credit Facilities"), pursuant to a Term Loan and Revolving Credit Agreement (the "Credit Agreement"). 

On December 15, 2023, we and the Borrower entered into Amendment No. 1, an Incremental Assumption Agreement (the "Amendment") to the Credit Agreement. The Amendment provides for a fungible add on to the 2022 Term B Loans in an aggregate principal amount of $300.0 million (the "Incremental Term B Loans" and together with the 2022 Term B Loans, the “Term B Loans”). The terms of the Incremental Term B Loans, including pricing and maturity, are identical to the 202