Company: PRGO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001585364-25-000122
Chunk: 17

Company: PERRIGO Co plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 17
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 in fair value of the derivative instruments are recognized in Interest expense, net.As of June 28, 2025, the undesignated economically offsetting interest rate swaps totaling $600.0 million are effective through April 2029.

16

Perrigo Company plc - Item 1Note 10

Cross-currency Swaps We have $2.3 billion notional amount fixed-for-fixed cross-currency interest rate swaps designated as net investment hedges to hedge the European Euro ("EUR") currency exposure of our investment in European operations. As designated net investment hedges, gains and losses related to the EUR spot exchange rate will be deferred within the Cumulative Translation Adjustment, a component of AOCI, and recognized in the Condensed Consolidated Statements of Operations when the hedged EUR net investment is substantially liquidated. Gains and losses on excluded components (e.g., interest differentials) will be recorded in Interest expense, net on a systematic and rational basis. As of June 28, 2025, of the total $2.3 billion notional amount, $515.0 million, $1.0 billion, $300.0 million, $315.0 million, and $200.0 million notional amounts are effective through March 2026, April 2027, September 2028, December 2030, and March 2033, respectively.Other Hedging InstrumentsThe €350.0 million 2032 Notes (as defined in Note 11) are designated as a net investment hedge on our investment in European operations. As a designated net investment hedge, gains and losses related to the EUR spot exchange rate will be deferred within the Cumulative Translation Adjustment, a component of AOCI, and recognized in the Condensed Consolidated Statements of Operations when the hedged EUR net investment is substantially liquidated. Foreign Currency ForwardsNotional amounts of foreign currency forward contracts were as follows (in millions):June 28, 2025December 31, 2024United States Dollar (USD)$132.8 $97.9 British Pound (GBP)73.9 101.3 European Euro (EUR)55.3 54.9 Swedish Krona (SEK)45.6 66.5 Danish Krone (DKK)44.7 57.8 Polish Zloty (PLZ)31.0 26.7 Chinese Yuan (CN