Indebtedness (Tables)

9 Months Ended

Sep. 28, 2024

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.