XML 81 R38.htm IDEA: XBRL DOCUMENT
v3.24.3

Indebtedness (Tables) | 9 Months Ended
--- | ---
Sep. 28, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | Total borrowings are summarized as follows (in millions):
|  |  |  |  | September 28, 2024 |  | December 31, 2023
Term loans |  |  |  |  |
| Term A Loans due April 20, 2027(1) |  |  | $ | 453.1 |  |  | $ | 471.9 |
| Term B Loans due April 20, 2029(1) |  |  | 984.7 |  |  | 1,386.2 |
| Total term loans |  |  | $ | 1,437.8 |  |  | $ | 1,858.1 |
Notes and Bonds |  |  |  |  |
| Coupon | Due |  |  |  |  |
| 3.900% | December 15, 2024 |  |  | $ | 400.0 |  |  | $ | 400.0 |
| 4.375% | March 15, 2026(2) |  |  | 700.0 |  |  | 700.0 |
| 4.900% | June 15, 2030(3) |  |  | 750.0 |  |  | 750.0 |
* | 5.375% | September 30, 2032(4) |  |  | 390.6 |  |  | — |
| 6.125% | September 30, 2032(4) |  |  | 715.0 |  |  | — |
| 5.300% | November 15, 2043 |  |  | 90.5 |  |  | 90.5 |
| 4.900% | December 15, 2044 |  |  | 303.9 |  |  | 303.9 |
| Total notes and bonds |  |  | 3,350.0 |  |  | 2,244.4 |
Other financing | 13.7 |  |  | 14.8 |
Unamortized premium (discount), net | (23.7) |  |  | (17.8) |
Deferred financing fees | (24.5) |  |  | (26.1) |
Total borrowings outstanding | 4,753.3 |  |  | 4,073.4 |
| Current indebtedness | (440.7) |  |  | (440.6) |
Total long-term debt less current portion | $ | 4,312.6 |  |  | $ | 3,632.8 |
(1) Discussed below collectively as the "Senior Secured Credit Facilities". (2) The 4.375% Notes due 2026 were redeemed in full on October 2, 2024. (3) The coupon rate noted above is as of September 28, 2024. This increased from 4.650% to 4.900% on payments starting after June 15, 2024, following a credit rating downgrade by S&P Global in the first quarter of 2024. Future interest rate adjustments are subject to a 2.0% total cap above the original 3.150% interest rate which would result in an interest rate not to exceed 5.150% based on certain rating events as specified in the Note’s Supplemental Indenture No. 3, dated as of June 19, 2020, among Perrigo Finance Unlimited Company, Perrigo Company plc, the guarantors party thereto and Wells Fargo Bank, National Association, as trustee. (4) Discussed below collectively as the "2032 Notes". * Debt denominated in euros subject to fluctuations in the euro-to-U.S. dollar exchange rate.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration