PERRIGO Co plc

NOTE 13 -ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Changes in our AOCI balances, net of tax were as follows (in millions):

For additional details about the effect of the amounts reclassified from AOCI refer to Note 10.

The tax effects on the net activity related to each component of other comprehensive income (loss), were as follows (in millions):

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.

Note 14

NOTE 14 -RESTRUCTURING CHARGES

We periodically take action to reduce redundant expenses and improve operating efficiencies. Restructuring activity includes severance, contract termination costs, asset impairments, and related consulting fees. The following reflects our restructuring activity (in millions):

Note 14

The charges incurred during the three months ended September 26, 2026 were primarily associated with contract termination costs as a result of the Operational Enhancement Program and professional consulting fees in Supply Chain Reinvention. The charges incurred during the nine months ended September 26, 2026 were primarily associated with employee separation costs as a result of the Operational Enhancement Program. The charges incurred during the three months ended September 27, 2025 were primarily associated with employee separation costs as a result of actions taken on Project Energize. The charges incurred during the nine months ended September 27, 2025 were primarily associated with employee separation costs as a result of actions taken on Nutrition Network Optimization and Project Energize.

Of the amount recorded during the three months ended September 26, 2026, our Self Care and Specialty Care segments reversed charges in the amounts of $0.7 million and $1.7 million, respectively, due primarily to adjustments to employee separation costs related to the Operational Enhancement Program. Of the amount recorded during the nine months ended September 26, 2026, our Self Care segment incurred charges in the amount of $54.7 million and our Specialty Care segment reversed charges in the amount of $2.9 million due primarily to employee separation costs related to the Operational Enhancement Program. Of the amount recorded during the three and nine months ended September 26, 2026, $0.9 million and $17.9 million, respectively, related to our Infant Formula segment, due to Nutrition Network Optimization. Charges totaling $2.5 million and $21.1 million during the three and nine months ended September 26, 2026, respectively, primarily for separation costs associated with the Operational Enhancement Program were corporate costs not allocated to a reporting segment.

Of the amount recorded during the three and nine months ended September 27, 2025, $10.5 million and $19.5 million, respectively, were related to our Self Care segment, due primarily to Project Energize, and $3.4 million and $6.4 million, respectively, related to our Specialty Care segment, due primarily to Project Energize, and $0.4 million and $18.1 million, respectively, related to our Infant Formula segment, due to Nutrition Network Optimization. Charges totaling $5.9 million and $13.9 million during the three and nine months ended September 27, 2025, respectively, primarily for separation costs associated with Project Energize were corporate costs not allocated to a reporting segment.

There were no other material restructuring programs for the periods presented. All charges are recorded in Restructuring expense on the Condensed Consolidated Statements of Operations. The remaining $49.9 million liability for employee severance benefits and consulting fees is expected to be mostly paid within the next year, with the exception of approximately $14 million of charges recorded for Nutrition Network Optimization, which are recorded as a long-term liability on the Condensed Consolidated Balance Sheets as they are not currently expected to be paid out until 2028.