Company: PRGO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001585364-25-000014
Chunk: 151

Company: PERRIGO Co plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 151
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.6)Other comprehensive income (loss)19.8 (192.0)(0.9)(173.1)Balance at December 31, 2024$36.9 $(196.0)$(3.3)$(162.4)For additional details about the effect of the amounts reclassified from AOCI refer to Note 11.

104

Perrigo Company plc - Item 8Note 16

The tax effects on the net activity related to each component of other comprehensive income (loss), were as follows (in millions): Year EndedTax (benefit) expenseDecember 31, 2024December 31, 2023December 31, 2022Fair value of derivative financial instruments $3.5 $(7.2)$13.1 Foreign currency translation adjustments 29.3 (17.7)1.5 Post-employment plan adjustments — (0.1)0.1 (Benefit) expense for income taxes related to other comprehensive income (loss) $32.8 $(25.0)$14.7 

Except for the tax effects of foreign currency translation adjustments related to our foreign-denominated notes and cross-currency interest rate swaps designated as net investment hedges (see Note 11), income taxes were not provided for foreign currency translation. Generally, the assets and liabilities of foreign operations are translated into U.S. dollars using the current exchange rate. For those operations, changes in exchange rates generally do not affect cash flows; therefore, resulting translation adjustments are made in the Consolidated Statements of Shareholders' Equity rather than in the Consolidated Statements of Operations. 

NOTE 17 - RESTRUCTURING CHARGES 

We periodically take action to reduce redundant expenses and improve operating efficiencies. Restructuring activity includes severance, lease exit costs, asset impairments, and related consulting fees. The following reflects our restructuring activity (in millions):Year EndedDecember 31, 2024Supply Chain ReinventionHRA Pharma Integration Project EnergizeOther InitiativesTotalBeginning balance$0.7 $6.8 $2.9 $1.8 $12.2 Additional charges14.5 — 95.2 0.4 110.1 Payments(12.6)(5.2)(59.7)(1.3)(78.8)Non-cash adjustments(0.3)— (10.5)0.1 (10.7)Ending