PERRIGO Co plc
For the period ended Jun 29, 2024. Filed Aug 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 29, 2024 · Filed Aug 2, 2024
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Revenue Recognition
Note 2
NOTE 2 -REVENUE RECOGNITION
The following is a summary of our net sales by category (in millions):
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| June 29, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 | |
| CSCA(1) | ||||
| Digestive Health | $126.0 | $126.1 | $248.2 | $250.1 |
| Upper Respiratory | 118.8 | 137.3 | 249.1 | 291.0 |
| Nutrition | 86.1 | 168.1 | 176.7 | 306.6 |
| Pain and Sleep-Aids | 81.6 | 96.7 | 164.2 | 200.1 |
| Oral Care | 73.2 | 75.5 | 137.9 | 158.8 |
| Healthy Lifestyle | 69.1 | 66.5 | 140.4 | 139.9 |
| Skin Care | 57.1 | 61.8 | 106.7 | 131.6 |
| Women's Health | 16.8 | 12.8 | 44.0 | 25.1 |
| Vitamins, Minerals, and Supplements ("VMS") | 5.3 | 5.0 | 9.5 | 9.5 |
| Other CSCA | 0.1 | 1.0 | 1.6 | 1.7 |
| Total CSCA | $634.1 | $750.8 | $1,278.3 | $1,514.4 |
| CSCI | ||||
| Skin Care | $127.7 | $123.0 | $242.4 | $206.4 |
| Healthy Lifestyle | 57.5 | 60.6 | 122.1 | 127.0 |
| Upper Respiratory | 50.7 | 64.9 | 119.8 | 149.7 |
| Pain and Sleep-Aids | 50.3 | 52.8 | 101.7 | 102.7 |
| VMS | 39.9 | 41.5 | 84.5 | 89.3 |
| Women's Health | 36.9 | 31.9 | 68.9 | 61.0 |
| Oral Care | 23.0 | 21.6 | 51.7 | 50.7 |
| Digestive Health | 8.5 | 10.4 | 18.0 | 19.2 |
| Other CSCI(2) | 36.8 | 35.7 | 60.1 | 54.4 |
| Total CSCI | 431.3 | 442.4 | 869.3 | 860.4 |
| Total net sales | $1,065.5 | $1,193.1 | $2,147.5 | $2,374.8 |
(1) We updated our global reporting product categories as a result of legacy sales being moved out of Other CSCA and into respective categories. These product categories have been adjusted retroactively to reflect the changes and have no impact on historical financial position, results of operations, or cash flows.
(2) Consists primarily of the Rare Diseases business and other miscellaneous or otherwise uncategorized product lines and other adjustments, none of which is greater than 10% of the segment net sales.
The following table provides information about contract assets from contracts with customers (in millions):
| Balance Sheet Location | June 29, 2024 | December 31, 2023 | |
|---|---|---|---|
| Short-term contract assets | Prepaid expenses and other current assets | $25.6 | $28.5 |
Note 2
We generated net sales in the following geographic locations(1) (in millions):
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| June 29, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 | |
| U.S. | $627.8 | $735.8 | $1,260.1 | $1,486.0 |
| Europe(2) | 408.4 | 425.7 | 828.1 | 832.8 |
| All other countries(3) | 29.3 | 31.6 | 59.3 | 56.0 |
| Total net sales | $1,065.5 | $1,193.1 | $2,147.5 | $2,374.8 |
(1) The net sales by geography are derived from the location of the entity that sells to a third party.
(2) Includes Ireland net sales of $11.4 million and $15.7 million for the three and six months ended June 29, 2024, and $11.9 million and $19.1 million for the three and six months ended July 1, 2023.
(3) Includes net sales generated primarily in Australia and Canada.
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