Company: PRGO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001585364-25-000014
Chunk: 125

Company: PERRIGO Co plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 125
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 the swap payments and receipts within Interest expense, net.In April 2022, we entered into the fixed-for-fixed cross currency interest rate swaps designated as net investment hedges to hedge the EUR currency exposure of our investment in European operations. The following are the total notional amounts and terms of the instruments: •$300.0 million notional amount effective from April 14, 2022 through April 20, 2024;•$700.0 million notional amount effective from April 27, 2022 through March 15, 2026; and•$500.0 million notional amount effective from April 22, 2022 through June 15, 2030.On October 25, 2022, we cash settled the April 2022 swaps for $98.8 million in proceeds recognized as part of cash flows for investing activities within the Statement of Cash Flows for the year ended December 31, 2022. On the 

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Perrigo Company plc - Item 8Note 11

same day, we replaced the terminated instruments with new fixed-for-fixed cross currency interest rate swaps and designated the instruments as net investment hedges on our investment in European operations. The following are the total notional amounts and terms of the instruments: •$700.0 million notional amount effective from October 25, 2022 through December 15, 2024; •$700.0 million notional amount effective from October 25, 2022 through March 15, 2026; and •$100.0 million notional amount effective from October 25, 2022 through June 15, 2030.On November 21, 2023, we entered into fixed-for-fixed cross currency interest rate swaps designated as net investment hedges to hedge the EUR currency exposure of our investment in European operations. The following are the total notional amounts and terms of the instruments: •$300.0 million notional amount outstanding from November 21, 2023 through April 20, 2027. On May 7, 2024, we cash settled $547.5 million notional of the $700.0 million notional amount effective from October 25, 2022 through December 15, 2024. The settlement resulted in cash outflows of $45.8 million recognized as part of cash flows for investing activities within the Statement of Cash Flows for the year