Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 17

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 17
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1 The amounts of (income)/expense recognized in earnings related to our non-designated derivatives on the Condensed Consolidated Statements of Operations were as follows (in millions): Three Months EndedNon-Designated DerivativesIncome Statement LocationMarch 29, 2025March 30, 2024Foreign currency forward contractsOther (income) expense, net$(4.8)$(2.1)Interest rate swap agreementsInterest expense, net$0.2 $— 

18

Perrigo Company plc - Item 1Note 10

The following tables summarize the effect of derivative instruments designated as hedging instruments in AOCI (in millions):Gain or (Loss) Reclassified from AOCI into EarningsRelated to Amounts Included in Effectiveness TestingRelated to Amounts Excluded from Effectiveness TestingAmount of Gain or (Loss) Recognized in OCI(1)Location of Gain or (Loss)Amount Reclassified(2)Location of Gain or (Loss)Amount Reclassified(2)Three Months Ended March 29, 2025Cash flow hedgesInterest rate swap agreements$(11.1)Interest expense, net$4.7 Interest expense, net$— Foreign currency forward contracts0.5 Net sales— Net sales(0.1)Cost of sales0.4 Cost of sales0.1 Total Cash flow hedges$(10.6)$5.1 $— Net investment hedgesCross-currency swaps$59.9 Interest expense, net$9.4 Euro Notes Due 2032(16.4)Total Net investment hedges$43.5 $9.4 Three Months Ended March 30, 2024Cash flow hedgesInterest rate swap agreements$33.5 Interest expense, net$7.8 Interest expense, net$— Foreign currency forward contracts0.9 Net sales0.1 Net sales(0.3)Cost of sales— Cost of sales(0.2)Total Cash flow hedges$34.4 $7.9 $(0.5)Net investment hedgesCross-currency swaps$48.9 Interest expense, net$7.3 (1) Net income of $25.3 million is expected to be reclassified out of AOCI into earnings during the next 12 months.(2) For additional details about the effect of the amounts reclassified from AOCI refer to Note