Company: PRGO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001585364-25-000014
Chunk: 116

Company: PERRIGO Co plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 116
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 31, 2023Land—$54.9 $50.6 Buildings10 to 45 years624.3 611.3 Machinery and equipment3 to 10 years1,380.2 1,326.9 Property, plant and equipment, gross2,059.4 1,988.8 Less accumulated depreciation(1,141.6)(1,072.4)Property, plant and equipment, net$917.8 $916.4 Depreciation expense includes amortization of assets recorded under finance leases and totaled $97.4 million, $93.7 million, and $86.2 million for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively.

NOTE 8 - LEASES 

We lease certain assets, principally warehouse facilities and computer equipment, under agreements that expire at various dates through the year ended December 31, 2040. Certain leases contain provisions for renewal and purchase options and require us to pay various related expenses. Rent expense under all leases was $51.3 million, $51.4 million, and $49.6 million for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively.The balance sheet locations of our lease assets and liabilities were as follows (in millions):AssetsBalance Sheet LocationDecember 31, 2024December 31, 2023OperatingOperating lease assets$175.2 $183.6 FinanceOther non-current assets11.7 13.7 Total$186.9 $197.3 

80

Perrigo Company plc - Item 8Note 8

LiabilitiesBalance Sheet LocationDecember 31, 2024December 31, 2023CurrentOperatingOther accrued liabilities$27.8 $27.5 FinanceCurrent indebtedness1.5 1.9 Non-CurrentOperatingOther non-current liabilities153.8 159.6 FinanceLong-term debt, less current portion12.0 13.2 Total$195.1 $202.2 The below tables show our lease assets and liabilities by reporting segment (in millions):AssetsOperatingFinancingDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023CSCA$90