PERRIGO Co plc
For the period ended Mar 29, 2025. Filed May 7, 2025.
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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.
Mar 29, 2025 · Filed May 7, 2025
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Accumulated Other Comprehensive Income (Loss)
NOTE 13 -ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Changes in our AOCI balances, net of tax were as follows (in millions):
| Fair Value of Derivative Financial Instruments, net of tax | Foreign Currency Translation Adjustments, net of tax | Post-Employment Plan Adjustments, net of tax | Total AOCI | |
|---|---|---|---|---|
| Balance at December 31, 2024 | $36.9 | $(196.0) | $(3.3) | $(162.4) |
| OCI before reclassifications | (16.1) | 113.5 | (0.3) | 97.1 |
| Amounts reclassified from AOCI | (5.1) | — | — | (5.1) |
| Other comprehensive income (loss) | $(21.2) | $113.5 | $(0.3) | $92.0 |
| Balance at March 29, 2025 | $15.7 | $(82.5) | $(3.6) | $(70.4) |
For additional details about the effect of the amounts reclassified from AOCI refer to Note 10.
Note 13
The tax effects on the net activity related to each component of other comprehensive income (loss), were as follows (in millions):
| Three Months Ended | ||
|---|---|---|
| Tax (benefit) expense | March 29, 2025 | March 30, 2024 |
| Fair value of derivative financial instruments | $(3.9) | $6.1 |
| Foreign currency translation adjustments | (18.7) | 9.7 |
| Post-employment plan adjustments | — | (0.1) |
| (Benefit) expense for income taxes related to other comprehensive income (loss) | $(22.6) | $15.7 |
Except for the tax effects of foreign currency translation adjustments related to our foreign-denominated notes and cross-currency interest rate swaps designated as net investment hedges (refer to Note 10), income taxes were not provided for foreign currency translation. Generally, the assets and liabilities of foreign operations are translated into U.S. dollars using the current exchange rate. For those operations, changes in exchange rates generally do not affect cash flows; therefore, resulting translation adjustments are made in the Condensed Consolidated Statements of Shareholders' Equity rather than in the Condensed Consolidated Statements of Operations.
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