PERRIGO Co plc
For the period ended Sep 28, 2024. Filed Nov 6, 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.
Sep 28, 2024 · Filed Nov 6, 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 | Nine Months Ended | |||
|---|---|---|---|---|
| September 28, 2024 | September 30, 2023 | September 28, 2024 | September 30, 2023 | |
| CSCA(1) | ||||
| Nutrition | $127.1 | $129.7 | $303.8 | $436.3 |
| Upper Respiratory | 120.9 | 131.2 | 370.0 | 422.2 |
| Digestive Health | 113.5 | 118.1 | 361.7 | 368.2 |
| Pain and Sleep-Aids | 87.7 | 94.5 | 251.9 | 294.6 |
| Healthy Lifestyle | 80.9 | 79.4 | 221.3 | 219.3 |
| Oral Care | 66.9 | 76.7 | 204.8 | 235.5 |
| Skin Care | 51.9 | 58.2 | 158.6 | 189.8 |
| Women's Health | 18.0 | 10.5 | 62.0 | 35.6 |
| Vitamins, Minerals, and Supplements ("VMS") | 3.5 | 4.4 | 13.0 | 13.9 |
| Other CSCA | 0.9 | 0.8 | 2.4 | 2.5 |
| Total CSCA | $671.3 | $703.5 | $1,949.5 | $2,217.9 |
| CSCI | ||||
| Skin Care | $91.0 | $86.7 | $333.5 | $293.1 |
| Upper Respiratory | 86.1 | 78.2 | 206.0 | 227.9 |
| Pain and Sleep-Aids | 56.9 | 61.1 | 158.6 | 163.8 |
| Healthy Lifestyle | 53.2 | 52.4 | 175.2 | 179.4 |
| VMS | 43.0 | 46.1 | 127.4 | 135.4 |
| Women's Health | 32.2 | 28.5 | 101.2 | 89.5 |
| Oral Care | 23.3 | 24.8 | 75.0 | 75.5 |
| Digestive Health | 9.0 | 10.8 | 27.0 | 30.0 |
| Other CSCI(2) | 21.6 | 31.7 | 81.5 | 86.1 |
| Total CSCI | 416.3 | 420.3 | 1,285.5 | 1,280.7 |
| Total net sales | $1,087.5 | $1,123.8 | $3,235.1 | $3,498.7 |
(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 | September 28, 2024 | December 31, 2023 | |
|---|---|---|---|
| Short-term contract assets | Prepaid expenses and other current assets | $27.4 | $28.5 |
We generated net sales in the following geographic locations(1) (in millions):
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 28, 2024 | September 30, 2023 | September 28, 2024 | September 30, 2023 | |
| U.S. | $656.9 | $690.3 | $1,917.1 | $2,176.3 |
| Europe(2) | 397.3 | 399.8 | 1,225.5 | 1,232.6 |
| All other countries(3) | 33.3 | 33.7 | 92.5 | 89.8 |
| Total net sales | $1,087.5 | $1,123.8 | $3,235.1 | $3,498.7 |
(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 $11.1 million and $26.8 million for the three and nine months ended September 28, 2024, and $11.9 million and $31.0 million for the three and nine months ended September 30, 2023.
(3) Includes net sales generated primarily in Australia and Canada.
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