Company: PRGO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001585364-25-000122
Chunk: 147

Company: PERRIGO Co plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 7
Chunk 147
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1,255.3 1,750.6 1,112.3 Trademarks, trade names, and brands2,570.6 813.2 2,301.5 672.8 Non-compete agreements2.1 2.1 2.1 2.1 Total definite-lived intangibles$4,932.5 $2,374.5 $4,497.6 $2,073.9 Total intangible assets$4,938.0 $2,374.5 $4,502.8 $2,073.9 (1) Certain intangible assets are denominated in currencies other than U.S. dollar; therefore, their gross and net carrying values are subject to foreign currency movements. During the three months ended June 28, 2025, we identified an impairment indicator related to our Prevacid® definite-lived intangible asset in our CSCA segment. The indicator related to expected long-term decline in contribution margin. We determined a fair value assessment of the asset was required. The assessment resulted in an asset impairment of $1.5 million (refer to Note 9).We recorded amortization expense of $56.6 million and $111.4 million for the three and six months ended June 28, 2025, respectively, and $57.5 million and $115.9 million for the three and six months ended June 29, 2024, respectively.

NOTE 9 - FAIR VALUE MEASUREMENTS 

The table below summarizes the valuation of our financial instruments carried at fair value by the applicable pricing categories (in millions):June 28, 2025December 31, 2024Measured at fair value on a recurring basis:Level 1Level 2Level 3Level 1Level 2Level 3Assets:Foreign currency forward contracts$— $7.0 $— $— $5.5 $— Cross-currency swaps— — — — 14.2 — Interest rate swap agreements— 3.5 — — 9.3 — Total assets$— $10.5 $— $— $29.0 $— Liabilities:Foreign currency forward contracts$— $5.8 $— $— $5.6 $— Cross-currency swaps