EXHIBIT 99.1
PERRIGO COMPANY PLC
SELECTED SEGMENT INFORMATION
QUARTERS AND FISCAL YEAR 2016
(in millions)
(unaudited)
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care Americas | April 2,
2016 | | July 2,
2016 | | October 1,
2016 | | December 31,
2016 | | December 31,
2016 |
| Net sales | $ | 639.1 |
| | $ | 629.9 |
| | $ | 611.2 |
| | $ | 626.8 |
| | $ | 2,507.0 |
|
| Gross profit | $ | 202.7 |
| | $ | 227.5 |
| | $ | 205.2 |
| | $ | 215.6 |
| | $ | 851.0 |
|
| R&D expense | $ | 18.9 |
| | $ | 18.8 |
| | $ | 18.3 |
| | $ | 18.2 |
| | $ | 74.2 |
|
| DSG&A expense | $ | 74.9 |
| | $ | 77.9 |
| | $ | 74.6 |
| | $ | 81.5 |
| | $ | 308.9 |
|
| Operating income | $ | 107.3 |
| | $ | 124.4 |
| | $ | 105.0 |
| | $ | 88.9 |
| | $ | 425.6 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 31.7 | % | | 36.1 | % | | 33.6 | % | | 34.4 | % | | 33.9 | % |
| R&D expense | 3.0 | % | | 3.0 | % | | 3.0 | % | | 2.9 | % | | 3.0 | % |
| DSG&A expense | 11.7 | % | | 12.4 | % | | 12.2 | % | | 13.0 | % | | 12.3 | % |
| Operating income | 16.8 | % | | 19.7 | % | | 17.2 | % | | 14.2 | % | | 17.0 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | Year Ended |
| Consumer Self-Care International | April 2,
2016 | | July 2,
2016 | | October 1,
2016 | | December 31,
2016 | | December 31,
2016 |
| Net sales | $ | 420.1 |
| | $ | 399.5 |
| | $ | 358.3 |
| | $ | 401.9 |
| | $ | 1,579.8 |
|
| Gross profit | $ | 192.7 |
| | $ | 182.1 |
| | $ | 148.2 |
| | $ | 145.1 |
| | $ | 668.1 |
|
| R&D expense | $ | 10.5 |
| | $ | 10.0 |
| | $ | 10.5 |
| | $ | 9.6 |
| | $ | 40.6 |
|
| DSG&A expense | $ | 173.2 |
| | $ | 167.2 |
| | $ | 148.2 |
| | $ | 160.0 |
| | $ | 648.6 |
|
| Operating income (loss) | $ | (398.1 | ) | | $ | 0.1 |
| | $ | (1,617.5 | ) | | $ | (68.9 | ) | | $ | (2,084.4 | ) |
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 45.9 | % | | 45.6 | % | | 41.4 | % | | 36.1 | % | | 42.3 | % |
| R&D expense | 2.5 | % | | 2.5 | % | | 2.9 | % | | 2.4 | % | | 2.6 | % |
| DSG&A expense | 41.2 | % | | 41.9 | % | | 41.4 | % | | 39.8 | % | | 41.1 | % |
| Operating income (loss) | (94.8 | )% | | — | % | | (451.5 | )% | | (17.1 | )% | | (131.9 | )% |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Prescription Pharmaceuticals | April 2,
2016 | | July 2,
2016 | | October 1,
2016 | | December 31,
2016 | | December 31,
2016 |
| Net sales | $ | 267.5 |
| | $ | 293.3 |
| | $ | 271.0 |
| | $ | 283.4 |
| | $ | 1,115.2 |
|
| Gross profit | $ | 127.9 |
| | $ | 129.4 |
| | $ | 121.8 |
| | $ | 121.5 |
| | $ | 500.6 |
|
| R&D expense | $ | 14.1 |
| | $ | 16.6 |
| | $ | 19.7 |
| | $ | 12.0 |
| | $ | 62.4 |
|
| DSG&A expense | $ | 25.2 |
| | $ | 24.9 |
| | $ | 29.5 |
| | $ | 34.1 |
| | $ | 113.7 |
|
| Operating income (loss) | $ | 88.6 |
| | $ | 87.9 |
| | $ | 72.6 |
| | $ | (269.0 | ) | | $ | (19.9 | ) |
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 47.8 | % | | 44.1 | % | | 44.9 | % | | 42.9 | % | | 44.9 | % |
| R&D expense | 5.3 | % | | 5.7 | % | | 7.3 | % | | 4.2 | % | | 5.6 | % |
| DSG&A expense | 9.4 | % | | 8.5 | % | | 10.9 | % | | 12.0 | % | | 10.2 | % |
| Operating income (loss) | 33.1 | % | | 30.0 | % | | 26.8 | % | | (94.9 | )% | | (1.8 | )% |
PERRIGO COMPANY PLC
SELECTED SEGMENT INFORMATION
QUARTERS AND FISCAL YEAR 2017
(in millions)
(unaudited)
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care Americas | April 1,
2017 | | July 1,
2017 | | September 30,
2017 | | December 31,
2017 | | December 31,
2017 |
| Net sales | $ | 582.8 |
| | $ | 604.8 |
| | $ | 598.8 |
| | $ | 643.5 |
| | $ | 2,429.9 |
|
| Gross profit | $ | 196.6 |
| | $ | 210.0 |
| | $ | 211.4 |
| | $ | 225.7 |
| | $ | 843.7 |
|
| R&D expense | $ | 16.6 |
| | $ | 18.0 |
| | $ | 13.8 |
| | $ | 17.5 |
| | $ | 65.9 |
|
| DSG&A expense | $ | 71.4 |
| | $ | 75.7 |
| | $ | 70.4 |
| | $ | 61.6 |
| | $ | 279.1 |
|
| Operating income | $ | 83.2 |
| | $ | 110.5 |
| | $ | 129.6 |
| | $ | 147.6 |
| | $ | 470.9 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 33.7 | % | | 34.7 | % | | 35.3 | % | | 35.1 | % | | 34.7 | % |
| R&D expense | 2.8 | % | | 3.0 | % | | 2.3 | % | | 2.7 | % | | 2.7 | % |
| DSG&A expense | 12.3 | % | | 12.5 | % | | 11.8 | % | | 9.6 | % | | 11.5 | % |
| Operating income | 14.3 | % | | 18.3 | % | | 21.6 | % | | 22.9 | % | | 19.4 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care International | April 1,
2017 | | July 1,
2017 | | September 30,
2017 | | December 31,
2017 | | December 31,
2017 |
| Net sales | $ | 354.7 |
| | $ | 356.9 |
| | $ | 343.0 |
| | $ | 351.6 |
| | $ | 1,406.2 |
|
| Gross profit | $ | 162.1 |
| | $ | 167.3 |
| | $ | 157.4 |
| | $ | 164.4 |
| | $ | 651.2 |
|
| R&D expense | $ | 10.4 |
| | $ | 9.9 |
| | $ | 10.3 |
| | $ | 10.2 |
| | $ | 40.8 |
|
| DSG&A expense | $ | 149.3 |
| | $ | 152.2 |
| | $ | 141.5 |
| | $ | 147.9 |
| | $ | 590.9 |
|
| Operating income (loss) | $ | (1.6 | ) | | $ | (5.5 | ) | | $ | 2.0 |
| | $ | 2.4 |
| | $ | (2.7 | ) |
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 45.7 | % | | 46.9 | % | | 45.9 | % | | 46.8 | % | | 46.3 | % |
| R&D expense | 2.9 | % | | 2.8 | % | | 3.0 | % | | 2.9 | % | | 2.9 | % |
| DSG&A expense | 42.1 | % | | 42.6 | % | | 41.3 | % | | 42.1 | % | | 42.0 | % |
| Operating income (loss) | (0.5 | )% | | (1.5 | )% | | 0.6 | % | | 0.7 | % | | (0.2 | )% |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Prescription Pharmaceuticals | April 1,
2017 | | July 1,
2017 | | September 30,
2017 | | December 31,
2017 | | December 31,
2017 |
| Net sales | $ | 237.6 |
| | $ | 260.0 |
| | $ | 273.0 |
| | $ | 283.8 |
| | $ | 1,054.4 |
|
| Gross profit | $ | 95.5 |
| | $ | 119.6 |
| | $ | 120.0 |
| | $ | 119.5 |
| | $ | 454.6 |
|
| R&D expense | $ | 11.1 |
| | $ | 12.7 |
| | $ | 12.4 |
| | $ | 17.9 |
| | $ | 54.1 |
|
| DSG&A expense | $ | 21.5 |
| | $ | 11.8 |
| | $ | 22.5 |
| | $ | 35.4 |
| | $ | 91.2 |
|
| Operating income | $ | 84.0 |
| | $ | 74.8 |
| | $ | 81.7 |
| | $ | 65.6 |
| | $ | 306.1 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 40.2 | % | | 46.0 | % | | 44.0 | % | | 42.1 | % | | 43.1 | % |
| R&D expense | 4.7 | % | | 4.9 | % | | 4.6 | % | | 6.3 | % | | 5.1 | % |
| DSG&A expense | 9.0 | % | | 4.5 | % | | 8.3 | % | | 12.5 | % | | 8.6 | % |
| Operating income | 35.4 | % | | 28.8 | % | | 29.9 | % | | 23.1 | % | | 29.0 | % |
PERRIGO COMPANY PLC
SELECTED SEGMENT INFORMATION
QUARTERS AND FISCAL YEAR 2018
(in millions)
(unaudited)
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care Americas | March 31,
2018 | | June 30,
2018 | | September 29,
2018 | | December 31,
2018 | | December 31,
2018 |
| Net sales | $ | 601.6 |
| | $ | 596.9 |
| | $ | 596.2 |
| | $ | 616.9 |
| | $ | 2,411.6 |
|
| Gross profit | $ | 205.9 |
| | $ | 202.5 |
| | $ | 189.5 |
| | $ | 191.1 |
| | $ | 789.0 |
|
| R&D expense | $ | 15.2 |
| | $ | 66.4 |
| | $ | 13.8 |
| | $ | 15.3 |
| | $ | 110.7 |
|
| DSG&A expense | $ | 71.5 |
| | $ | 72.4 |
| | $ | 73.0 |
| | $ | 65.4 |
| | $ | 282.3 |
|
| Operating income (loss) | $ | 118.6 |
| | $ | 64.6 |
| | $ | (119.0 | ) | | $ | 110.2 |
| | $ | 174.4 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 34.2 | % | | 33.9 | % | | 31.8 | % | | 31.0 | % | | 32.7 | % |
| R&D expense | 2.5 | % | | 11.1 | % | | 2.3 | % | | 2.5 | % | | 4.6 | % |
| DSG&A expense | 11.9 | % | | 12.1 | % | | 12.2 | % | | 10.6 | % | | 11.7 | % |
| Operating income (loss) | 19.7 | % | | 10.8 | % | | (20.0 | )% | | 17.9 | % | | 7.2 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care International | March 31,
2018 | | June 30,
2018 | | September 29,
2018 | | December 31,
2018 | | December 31,
2018 |
| Net sales | $ | 377.8 |
| | $ | 357.9 |
| | $ | 334.2 |
| | $ | 329.4 |
| | $ | 1,399.3 |
|
| Gross profit | $ | 185.9 |
| | $ | 173.2 |
| | $ | 158.6 |
| | $ | 151.0 |
| | $ | 668.7 |
|
| R&D expense | $ | 10.6 |
| | $ | 11.2 |
| | $ | 10.3 |
| | $ | 11.8 |
| | $ | 43.9 |
|
| DSG&A expense | $ | 162.4 |
| | $ | 156.5 |
| | $ | 134.9 |
| | $ | 145.0 |
| | $ | 598.8 |
|
| Operating income (loss) | $ | 12.3 |
| | $ | 4.0 |
| | $ | (4.7 | ) | | $ | (4.8 | ) | | $ | 6.8 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 49.2 | % | | 48.4 | % | | 47.5 | % | | 45.8 | % | | 47.8 | % |
| R&D expense | 2.8 | % | | 3.1 | % | | 3.1 | % | | 3.6 | % | | 3.1 | % |
| DSG&A expense | 43.0 | % | | 43.7 | % | | 40.3 | % | | 44.0 | % | | 42.8 | % |
| Operating income (loss) | 3.3 | % | | 1.1 | % | | (1.4 | )% | | (1.5 | )% | | 0.5 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Prescription Pharmaceuticals | March 31,
2018 | | June 30,
2018 | | September 29,
2018 | | December 31,
2018 | | December 31,
2018 |
| Net sales | $ | 237.6 |
| | $ | 231.6 |
| | $ | 202.8 |
| | $ | 248.8 |
| | $ | 920.8 |
|
| Gross profit | $ | 100.9 |
| | $ | 95.3 |
| | $ | 76.8 |
| | $ | 100.9 |
| | $ | 373.9 |
|
| R&D expense | $ | 12.6 |
| | $ | 14.4 |
| | $ | 19.5 |
| | $ | 17.5 |
| | $ | 64.0 |
|
| DSG&A expense | $ | 24.1 |
| | $ | 22.6 |
| | $ | 20.7 |
| | $ | 21.1 |
| | $ | 88.5 |
|
| Operating income | $ | 61.2 |
| | $ | 53.6 |
| | $ | 36.1 |
| | $ | 63.7 |
| | $ | 214.6 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Gross profit | 42.5 | % | | 41.1 | % | | 37.9 | % | | 40.6 | % | | 40.6 | % |
| R&D expense | 5.3 | % | | 6.2 | % | | 9.6 | % | | 7.0 | % | | 6.9 | % |
| DSG&A expense | 10.1 | % | | 9.8 | % | | 10.2 | % | | 8.5 | % | | 9.6 | % |
| Operating income | 25.8 | % | | 23.1 | % | | 17.8 | % | | 25.6 | % | | 23.3 | % |
PERRIGO COMPANY PLC
SELECTED SEGMENT INFORMATION
FIRST QUARTER 2019
(in millions)
(unaudited)
|
| | | |
| | Three Months Ended |
| Consumer Self-Care Americas | March 30,
2019 |
| Net sales | $ | 581.8 |
|
| Gross profit | $ | 184.0 |
|
| R&D expense | $ | 15.6 |
|
| DSG&A expense | $ | 73.3 |
|
| Operating income | $ | 94.2 |
|
| | |
| Selected ratios as a percentage of reported net sales |
| Gross profit | 31.6 | % |
| R&D expense | 2.7 | % |
| DSG&A expense | 12.6 | % |
| Operating income | 16.2 | % |
|
| | | |
| | Three Months Ended |
| Consumer Self-Care International | March 30,
2019 |
| Net sales | $ | 350.8 |
|
| Gross profit | $ | 168.4 |
|
| R&D expense | $ | 10.3 |
|
| DSG&A expense | $ | 149.4 |
|
| Operating income | $ | 8.1 |
|
| | |
| Selected ratios as a percentage of reported net sales |
| Gross profit | 48.0 | % |
| R&D expense | 2.9 | % |
| DSG&A expense | 42.6 | % |
| Operating income | 2.3 | % |
|
| | | |
| | Three Months Ended |
| Prescription Pharmaceuticals | March 30,
2019 |
| Net sales | $ | 241.9 |
|
| Gross profit | $ | 96.4 |
|
| R&D expense | $ | 14.3 |
|
| DSG&A expense | $ | 21.6 |
|
| Operating income | $ | 60.6 |
|
| | |
| Selected ratios as a percentage of reported net sales |
| Gross profit | 39.9 | % |
| R&D expense | 5.9 | % |
| DSG&A expense | 8.9 | % |
| Operating income | 25.1 | % |
PERRIGO COMPANY PLC
ADJUSTED SELECTED SEGMENT INFORMATION(1)
QUARTERS AND FISCAL YEAR 2016
(in millions)
(unaudited)
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care Americas | April 2,
2016 | | July 2,
2016 | | October 1,
2016 | | December 31,
2016 | | December 31,
2016 |
| Adjusted net sales | $ | 592.0 |
| | $ | 587.8 |
| | $ | 590.2 |
| | N/A |
| | $ | 2,396.8 |
|
| Adjusted gross profit | $ | 211.3 |
| | $ | 233.8 |
| | $ | 215.2 |
| | $ | 228.2 |
| | $ | 888.5 |
|
| Adjusted R&D expense | $ | 18.3 |
| | $ | 18.3 |
| | $ | 18.1 |
| | N/A |
| | $ | 72.9 |
|
| Adjusted DSG&A expense | $ | 65.5 |
| | $ | 69.2 |
| | $ | 65.9 |
| | $ | 65.0 |
| | $ | 265.6 |
|
| Adjusted operating income | $ | 127.4 |
| | $ | 146.3 |
| | $ | 131.3 |
| | $ | 145.0 |
| | $ | 550.0 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 35.7 | % | | 39.8 | % | | 36.5 | % | | 36.4 | % | | 37.1 | % |
| Adjusted R&D expense | 3.1 | % | | 3.1 | % | | 3.1 | % | | N/A |
| | 3.0 | % |
| Adjusted DSG&A expense | 11.1 | % | | 11.8 | % | | 11.2 | % | | 10.4 | % | | 11.1 | % |
| Adjusted operating income | 21.5 | % | | 24.9 | % | | 22.2 | % | | 23.1 | % | | 22.9 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care International | April 2,
2016 | | July 2,
2016 | | October 1,
2016 | | December 31,
2016 | | December 31,
2016 |
| Adjusted net sales | N/A |
| | $ | 399.4 |
| | $ | 358.1 |
| | N/A |
| | $ | 1,579.5 |
|
| Adjusted gross profit | $ | 205.6 |
| | $ | 200.1 |
| | $ | 165.2 |
| | $ | 169.2 |
| | $ | 740.1 |
|
| Adjusted R&D expense | $ | 10.3 |
| | $ | 9.8 |
| | $ | 10.1 |
| | $ | 9.5 |
| | $ | 39.7 |
|
| Adjusted DSG&A expense | $ | 142.2 |
| | $ | 134.1 |
| | $ | 116.8 |
| | $ | 124.7 |
| | $ | 517.8 |
|
| Adjusted operating income | $ | 53.0 |
| | $ | 56.2 |
| | $ | 38.3 |
| | $ | 35.1 |
| | $ | 182.6 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 48.9 | % | | 50.1 | % | | 46.1 | % | | 42.1 | % | | 46.9 | % |
| Adjusted R&D expense | 2.5 | % | | 2.4 | % | | 2.8 | % | | 2.4 | % | | 2.5 | % |
| Adjusted DSG&A expense | 33.9 | % | | 33.6 | % | | 32.6 | % | | 31.0 | % | | 32.8 | % |
| Adjusted operating income | 12.6 | % | | 14.1 | % | | 10.7 | % | | 8.7 | % | | 11.6 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Prescription Pharmaceuticals | April 2,
2016 | | July 2,
2016 | | October 1,
2016 | | December 31,
2016 | | December 31,
2016 |
| Adjusted gross profit | $ | 153.2 |
| | $ | 155.2 |
| | $ | 148.9 |
| | $ | 149.9 |
| | $ | 607.2 |
|
| Adjusted DSG&A expense | $ | 24.9 |
| | N/A |
| | $ | 24.3 |
| | $ | 24.9 |
| | $ | 99.0 |
|
| Adjusted operating income | $ | 114.3 |
| | $ | 113.7 |
| | $ | 104.9 |
| | $ | 113.0 |
| | $ | 445.9 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Adjusted gross profit | 57.3 | % | | 52.9 | % | | 55.0 | % | | 52.9 | % | | 54.5 | % |
| Adjusted DSG&A expense | 9.3 | % | | N/A |
| | 9.0 | % | | 8.8 | % | | 8.9 | % |
| Adjusted operating income | 42.7 | % | | 38.8 | % | | 38.7 | % | | 39.8 | % | | 40.0 | % |
| | | | | | | | | | |
(1) See Table I for reconciliation to GAAP numbers | | | | | | |
PERRIGO COMPANY PLC
ADJUSTED SELECTED SEGMENT INFORMATION(1)
QUARTERS AND FISCAL YEAR 2017
(in millions)
(unaudited)
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care Americas | April 1,
2017 | | July 1,
2017 | | September 30,
2017 | | December 31,
2017 | | December 31,
2017 |
| Adjusted gross profit | $ | 209.0 |
| | $ | 222.1 |
| | $ | 223.5 |
| | $ | 237.8 |
| | $ | 892.4 |
|
| Adjusted DSG&A expense | $ | 66.6 |
| | $ | 70.9 |
| | $ | 65.6 |
| | $ | 65.3 |
| | $ | 268.4 |
|
| Adjusted operating income | $ | 125.7 |
| | $ | 133.3 |
| | $ | 144.1 |
| | $ | 155.0 |
| | $ | 558.1 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Adjusted gross profit | 35.9 | % | | 36.7 | % | | 37.3 | % | | 37.0 | % | | 36.7 | % |
| Adjusted DSG&A expense | 11.4 | % | | 11.7 | % | | 10.9 | % | | 10.1 | % | | 11.0 | % |
| Adjusted operating income | 21.6 | % | | 22.0 | % | | 24.1 | % | | 24.1 | % | | 23.0 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care International | April 1,
2017 | | July 1,
2017 | | September 30,
2017 | | December 31,
2017 | | December 31,
2017 |
| Adjusted gross profit | $ | 182.4 |
| | $ | 187.8 |
| | $ | 178.9 |
| | $ | 186.1 |
| | $ | 735.2 |
|
| Adjusted R&D expense | $ | 10.2 |
| | $ | 9.5 |
| | $ | 10.0 |
| | $ | 9.9 |
| | $ | 39.6 |
|
| Adjusted DSG&A expense | $ | 122.8 |
| | $ | 124.4 |
| | $ | 112.0 |
| | $ | 120.8 |
| | $ | 480.0 |
|
| Adjusted operating income | $ | 49.5 |
| | $ | 53.8 |
| | $ | 57.0 |
| | $ | 55.4 |
| | $ | 215.7 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Adjusted gross profit | 51.4 | % | | 52.6 | % | | 52.2 | % | | 52.9 | % | | 52.3 | % |
| Adjusted R&D expense | 2.9 | % | | 2.7 | % | | 2.9 | % | | 2.8 | % | | 2.8 | % |
| Adjusted DSG&A expense | 34.6 | % | | 34.9 | % | | 32.6 | % | | 34.3 | % | | 34.1 | % |
| Adjusted operating income | 13.9 | % | | 15.1 | % | | 16.6 | % | | 15.8 | % | | 15.3 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Prescription Pharmaceuticals | April 1,
2017 | | July 1,
2017 | | September 30,
2017 | | December 31,
2017 | | December 31,
2017 |
| Adjusted gross profit | $ | 117.8 |
| | $ | 142.1 |
| | $ | 141.2 |
| | $ | 141.2 |
| | $ | 542.3 |
|
| Adjusted DSG&A expense | $ | 21.4 |
| | $ | 20.5 |
| | $ | 22.4 |
| | $ | 25.7 |
| | $ | 90.0 |
|
| Adjusted operating income | $ | 85.3 |
| | $ | 108.9 |
| | $ | 106.3 |
| | $ | 97.6 |
| | $ | 398.1 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Adjusted gross profit | 49.6 | % | | 54.7 | % | | 51.7 | % | | 49.7 | % | | 51.4 | % |
| Adjusted DSG&A expense | 9.0 | % | | 7.9 | % | | 8.2 | % | | 9.1 | % | | 8.5 | % |
| Adjusted operating income | 35.9 | % | | 41.9 | % | | 39.0 | % | | 34.4 | % | | 37.8 | % |
| | | | | | | | | | |
(1) See Table I for reconciliation to GAAP numbers | | | | | | |
PERRIGO COMPANY PLC
ADJUSTED SELECTED SEGMENT INFORMATION(1)
QUARTERS AND FISCAL YEAR 2018
(in millions)
(unaudited)
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care Americas | March 31,
2018 | | June 30,
2018 | | September 29,
2018 | | December 31,
2018 | | December 31,
2018 |
| Adjusted gross profit | $ | 216.4 |
| | $ | 213.1 |
| | $ | 200.1 |
| | $ | 196.6 |
| | $ | 826.2 |
|
| Adjusted R&D expense | N/A |
| | $ | 16.4 |
| | N/A |
| | N/A |
| | $ | 60.7 |
|
| Adjusted DSG&A expense | $ | 66.8 |
| | $ | 67.6 |
| | $ | 68.3 |
| | $ | 60.7 |
| | $ | 263.4 |
|
| Adjusted operating income | $ | 134.3 |
| | $ | 129.0 |
| | $ | 118.0 |
| | $ | 120.7 |
| | $ | 502.0 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Adjusted gross profit | 36.0 | % | | 35.7 | % | | 33.6 | % | | 31.9 | % | | 34.3 | % |
| Adjusted R&D expense | N/A |
| | 2.7 | % | | N/A |
| | N/A |
| | 2.5 | % |
| Adjusted DSG&A expense | 11.1 | % | | 11.3 | % | | 11.4 | % | | 9.8 | % | | 10.9 | % |
| Adjusted operating income | 22.3 | % | | 21.6 | % | | 19.8 | % | | 19.6 | % | | 20.8 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Consumer Self-Care International | March 31,
2018 | | June 30,
2018 | | September 29,
2018 | | December 31,
2018 | | December 31,
2018 |
| Adjusted gross profit | $ | 208.4 |
| | $ | 195.0 |
| | $ | 179.8 |
| | $ | 171.9 |
| | $ | 755.1 |
|
| Adjusted R&D expense | $ | 10.3 |
| | $ | 10.9 |
| | $ | 10.1 |
| | $ | 11.6 |
| | $ | 42.9 |
|
| Adjusted DSG&A expense | $ | 132.7 |
| | $ | 128.1 |
| | $ | 105.6 |
| | $ | 117.7 |
| | $ | 484.1 |
|
| Adjusted operating income | $ | 65.4 |
| | $ | 55.9 |
| | $ | 64.2 |
| | $ | 42.6 |
| | $ | 228.1 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Adjusted gross profit | 55.2 | % | | 54.5 | % | | 53.8 | % | | 52.2 | % | | 54.0 | % |
| Adjusted R&D expense | 2.7 | % | | 3.0 | % | | 3.0 | % | | 3.5 | % | | 3.1 | % |
| Adjusted DSG&A expense | 35.1 | % | | 35.8 | % | | 31.6 | % | | 35.7 | % | | 34.6 | % |
| Adjusted operating income | 17.3 | % | | 15.6 | % | | 19.2 | % | | 12.9 | % | | 16.3 | % |
|
| | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Year Ended |
| Prescription Pharmaceuticals | March 31,
2018 | | June 30,
2018 | | September 29,
2018 | | December 31,
2018 | | December 31,
2018 |
| Adjusted gross profit | $ | 121.8 |
| | $ | 115.9 |
| | $ | 97.4 |
| | $ | 121.9 |
| | $ | 457.0 |
|
| Adjusted DSG&A expense | N/A |
| | $ | 22.4 |
| | $ | 20.6 |
| | $ | 20.9 |
| | $ | 88.0 |
|
| Adjusted operating income | $ | 85.1 |
| | $ | 79.1 |
| | $ | 57.4 |
| | $ | 83.4 |
| | $ | 305.0 |
|
| | | | | | | | | | |
| Selected ratios as a percentage of reported net sales | | | | | | |
| Adjusted gross profit | 51.2 | % | | 50.0 | % | | 48.1 | % | | 49.0 | % | | 49.6 | % |
| Adjusted DSG&A expense | N/A |
| | 9.7 | % | | 10.1 | % | | 8.4 | % | | 9.6 | % |
| Adjusted operating income | 35.8 | % | | 34.1 | % | | 28.3 | % | | 33.5 | % | | 33.1 | % |
| | | | | | | | | | |
(1) See Table I for reconciliation to GAAP numbers | | | | | | |
PERRIGO COMPANY PLC
ADJUSTED SELECTED SEGMENT INFORMATION(1)
FIRST QUARTER 2019
(in millions)
(unaudited)
|
| | | |
| | Three Months Ended |
| Consumer Self-Care Americas | March 30,
2019 |
| Adjusted gross profit | $ | 189.4 |
|
| Adjusted DSG&A expense | $ | 67.4 |
|
| Adjusted operating income | $ | 106.3 |
|
| | |
| Selected ratios as a percentage of reported net sales |
| Adjusted gross profit | 32.5 | % |
| Adjusted DSG&A expense | 11.6 | % |
| Adjusted operating income | 18.3 | % |
|
| | | |
| | Three Months Ended |
| Consumer Self-Care International | March 30,
2019 |
| Adjusted gross profit | $ | 189.2 |
|
| Adjusted R&D expense | $ | 10.2 |
|
| Adjusted DSG&A expense | $ | 124.9 |
|
| Adjusted operating income | $ | 54.1 |
|
| | |
| Selected ratios as a percentage of reported net sales |
| Adjusted gross profit | 53.9 | % |
| Adjusted R&D expense | 2.9 | % |
| Adjusted DSG&A expense | 35.6 | % |
| Adjusted operating income | 15.4 | % |
|
| | | |
| | Three Months Ended |
| Prescription Pharmaceuticals | March 30,
2019 |
| Adjusted gross profit | $ | 117.6 |
|
| Adjusted DSG&A expense | $ | 21.5 |
|
| Adjusted operating income | $ | 81.9 |
|
| | |
| Selected ratios as a percentage of reported net sales |
| Adjusted gross profit | 48.6 | % |
| Adjusted DSG&A expense | 8.9 | % |
| Adjusted operating income | 33.9 | % |
| | |
(1) See Table I for reconciliation to GAAP numbers |
|
| | | | | | | | | | | | | | | |
| Table I |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2016 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | April 2, 2016 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 639.1 |
| $ | 202.7 |
| $ | 18.9 |
| $ | 74.9 |
| $ | 107.3 |
|
| As a % of reported net sales | | 31.7 | % | 3.0 | % | 11.7 | % | 16.8 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | $ | — |
| $ | 12.8 |
| $ | — |
| $ | (5.3 | ) | $ | 18.1 |
|
| Operating results attributable to held-for-sale business* | (47.1 | ) | (7.0 | ) | (0.6 | ) | (3.9 | ) | (2.5 | ) |
| Restructuring charges and other termination benefits | — |
| — |
| — |
| — |
| 1.5 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | — |
| 2.8 |
| — |
| (0.2 | ) | 3.0 |
|
| Adjusted | $ | 592.0 |
| $ | 211.3 |
| $ | 18.3 |
| $ | 65.5 |
| $ | 127.4 |
|
| As a % of adjusted net sales | | 35.7 | % | 3.1 | % | 11.1 | % | 21.5 | % |
| | | | | | |
| * Held-for-sale business includes U.S. VMS business. |
| | Three Months Ended |
| | July 2, 2016 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 629.9 |
| $ | 227.5 |
| $ | 18.8 |
| $ | 77.9 |
| $ | 124.4 |
|
| As a % of reported net sales | | 36.1 | % | 3.0 | % | 12.4 | % | 19.7 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | $ | — |
| $ | 12.4 |
| $ | — |
| $ | (5.1 | ) | $ | 17.5 |
|
| Impairment charges | — |
| — |
| — |
| — |
| 6.2 |
|
| Operating results attributable to held-for-sale business* | (42.1 | ) | (7.2 | ) | (0.5 | ) | (3.7 | ) | (3.1 | ) |
| Restructuring charges and other termination benefits | — |
| — |
| — |
| — |
| 0.3 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | — |
| 1.1 |
| — |
| 0.1 |
| 1.0 |
|
| Adjusted | $ | 587.8 |
| $ | 233.8 |
| $ | 18.3 |
| $ | 69.2 |
| $ | 146.3 |
|
| As a % of adjusted net sales | | 39.8 | % | 3.1 | % | 11.8 | % | 24.9 | % |
| | | | | | |
| * Held-for-sale business includes U.S. VMS business. | | | | | |
| | Three Months Ended |
| | October 1, 2016 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 611.2 |
| $ | 205.2 |
| $ | 18.3 |
| $ | 74.6 |
| $ | 105.0 |
|
| As a % of reported net sales | | 33.6 | % | 3.0 | % | 12.2 | % | 17.2 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | $ | — |
| $ | 12.6 |
| $ | — |
| $ | (5.1 | ) | $ | 17.7 |
|
| Impairment charges | — |
| — |
| — |
| — |
| 3.4 |
|
| Operating results attributable to held-for-sale business* | (21.0 | ) | (3.4 | ) | (0.2 | ) | (3.1 | ) | (0.1 | ) |
| Restructuring charges and other termination benefits | — |
| — |
| — |
| — |
| 4.0 |
|
| Unusual litigation | — |
| — |
| — |
| — |
| — |
|
Acquisition and integration-related charges and contingent
consideration adjustments | — |
| 0.8 |
| — |
| (0.5 | ) | 1.3 |
|
| Adjusted | $ | 590.2 |
| $ | 215.2 |
| $ | 18.1 |
| $ | 65.9 |
| $ | 131.3 |
|
| As a % of adjusted net sales | | 36.5 | % | 3.1 | % | 11.2 | % | 22.2 | % |
| | | | | | |
| * Held-for-sale business includes U.S. VMS business. | | | | | |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2016 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | December 31, 2016 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 626.8 |
| $ | 215.6 |
| $ | 18.2 |
| $ | 81.5 |
| $ | 88.9 |
|
| As a % of reported net sales | | 34.4 | % | 2.9 | % | 13.0 | % | 14.2 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.6 |
| | $ | (5.1 | ) | $ | 17.7 |
|
| Impairment charges | | — |
| | — |
| (0.1 | ) |
| Restructuring charges and other termination benefits | | — |
| | — |
| 27.1 |
|
| Unusual litigation | | — |
| | (10.2 | ) | 10.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | (1.2 | ) | 1.2 |
|
| Adjusted | | $ | 228.2 |
| | $ | 65.0 |
| $ | 145.0 |
|
| As a % of reported net sales | | 36.4 | % | | 10.4 | % | 23.1 | % |
| | | | | | |
| | Year Ended |
| | December 31, 2016 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 2,507.0 |
| $ | 851.0 |
| $ | 74.2 |
| $ | 308.9 |
| $ | 425.6 |
|
| As a % of reported net sales | | 33.9 | % | 3.0 | % | 12.3 | % | 17.0 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | $ | — |
| $ | 50.4 |
| $ | — |
| $ | (20.6 | ) | $ | 71.0 |
|
| Impairment charges | — |
| — |
| — |
| — |
| 9.5 |
|
| Operating results attributable to held-for-sale business* | (110.2 | ) | (17.6 | ) | (1.3 | ) | (10.7 | ) | (5.7 | ) |
| Restructuring charges and other termination benefits | — |
| — |
| — |
| — |
| 32.9 |
|
| Unusual litigation | — |
| — |
| — |
| (10.2 | ) | 10.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | — |
| 4.7 |
| — |
| (1.8 | ) | 6.5 |
|
| Adjusted | $ | 2,396.8 |
| $ | 888.5 |
| $ | 72.9 |
| $ | 265.6 |
| $ | 550.0 |
|
| As a % of adjusted net sales | | 37.1 | % | 3.0 | % | 11.1 | % | 22.9 | % |
| | | | | | |
| * Held-for-sale business includes U.S. VMS business. | | | | | |
| | | | | | |
| | Three Months Ended |
| | April 2, 2016 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 420.1 |
| $ | 192.7 |
| $ | 10.5 |
| $ | 173.2 |
| $ | (398.1 | ) |
| As a % of reported net sales | | 45.9 | % | 2.5 | % | 41.2 | % | (94.8 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.9 |
| $ | (0.2 | ) | $ | (29.7 | ) | $ | 42.8 |
|
| Impairment charges | | — |
| — |
| — |
| 403.9 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 3.1 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| — |
| (1.3 | ) | 1.3 |
|
| Adjusted | | $ | 205.6 |
| $ | 10.3 |
| $ | 142.2 |
| $ | 53.0 |
|
| As a % of reported net sales | | 48.9 | % | 2.5 | % | 33.9 | % | 12.6 | % |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2016 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | July 2, 2016 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 399.5 |
| $ | 182.1 |
| $ | 10.0 |
| $ | 167.2 |
| $ | 0.1 |
|
| As a % of reported net sales | | 45.6 | % | 2.5 | % | 41.9 | % | — | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | $ | — |
| $ | 17.3 |
| $ | (0.2 | ) | $ | (29.3 | ) | $ | 46.8 |
|
| Operating results attributable to held-for-sale business* | (0.1 | ) | 0.7 |
| — |
| (4.0 | ) | 4.7 |
|
| Restructuring charges and other termination benefits | — |
| — |
| — |
| — |
| 4.8 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | — |
| — |
| — |
| 0.2 |
| (0.2 | ) |
| Adjusted | $ | 399.4 |
| $ | 200.1 |
| $ | 9.8 |
| $ | 134.1 |
| $ | 56.2 |
|
| As a % of adjusted net sales | | 50.1 | % | 2.4 | % | 33.6 | % | 14.1 | % |
| | | | | |
| * Held-for-sale business includes the European Sports Brand. | | | | | |
| | | | | | |
| | Three Months Ended |
| | October 1, 2016 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 358.3 |
| $ | 148.2 |
| $ | 10.5 |
| $ | 148.2 |
| $ | (1,617.5 | ) |
| As a % of reported net sales | | 41.4 | % | 2.9 | % | 41.4 | % | (451.5 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | $ | — |
| $ | 16.9 |
| $ | (0.4 | ) | $ | (28.8 | ) | $ | 46.1 |
|
| Impairment charges | — |
| — |
| — |
| — |
| 1,604.5 |
|
| Operating results attributable to held-for-sale business* | (0.2 | ) | 0.1 |
| — |
| (2.8 | ) | 2.9 |
|
| Restructuring charges and other termination benefits | — |
| — |
| — |
| — |
| 2.5 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | — |
| — |
| — |
| 0.2 |
| (0.2 | ) |
| Adjusted | $ | 358.1 |
| $ | 165.2 |
| $ | 10.1 |
| $ | 116.8 |
| $ | 38.3 |
|
| As a % of adjusted net sales | | 46.1 | % | 2.8 | % | 32.6 | % | 10.7 | % |
| | | | | | |
| * Held-for-sale business includes the European Sports Brand. | | | | | |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2016 |
| (in millions) |
| (unaudited) |
| | |
| | Three Months Ended |
| | December 31, 2016 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 401.9 |
| $ | 145.1 |
| $ | 9.6 |
| $ | 160.0 |
| $ | (68.9 | ) |
| As a % of reported net sales | | 36.1 | % | 2.4 | % | 39.8 | % | (17.1 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 20.6 |
| $ | (0.1 | ) | $ | (27.5 | ) | $ | 48.2 |
|
| Impairment charges | | — |
| — |
| — |
| 34.0 |
|
| Operating results attributable to held-for-sale business* | | 3.5 |
| — |
| (6.8 | ) | 10.3 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 10.5 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| — |
| (1.0 | ) | 1.0 |
|
| Adjusted | | $ | 169.2 |
| $ | 9.5 |
| $ | 124.7 |
| $ | 35.1 |
|
| As a % of reported net sales | | 42.1 | % | 2.4 | % | 31.0 | % | 8.7 | % |
| | | | | | |
| * Held-for-sale business includes the European Sports Brand. | | | | | |
| | | | | | |
| | Year Ended |
| | December 31, 2016 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 1,579.8 |
| $ | 668.1 |
| $ | 40.6 |
| $ | 648.6 |
| $ | (2,084.4 | ) |
| As a % of reported net sales | | 42.3 | % | 2.6 | % | 41.1 | % | (131.9 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | $ | — |
| $ | 67.7 |
| $ | (0.9 | ) | $ | (115.3 | ) | $ | 183.9 |
|
| Impairment charges | — |
| — |
| — |
| — |
| 2,042.4 |
|
| Operating results attributable to held-for-sale business* | (0.3 | ) | 4.3 |
| — |
| (13.6 | ) | 17.9 |
|
| Restructuring charges and other termination benefits | — |
| — |
| — |
| — |
| 20.9 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | — |
| — |
| — |
| (1.9 | ) | 1.9 |
|
| Adjusted | $ | 1,579.5 |
| $ | 740.1 |
| $ | 39.7 |
| $ | 517.8 |
| $ | 182.6 |
|
| As a % of adjusted net sales | | 46.9 | % | 2.5 | % | 32.8 | % | 11.6 | % |
| | | | | | |
| * Held-for-sale business includes the European Sports Brand. | | | | | |
| | | | | | |
| | Three Months Ended |
| | April 2, 2016 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 267.5 |
| $ | 127.9 |
| $ | 14.1 |
| $ | 25.2 |
| $ | 88.6 |
|
| As a % of reported net sales | | 47.8 | % | 5.3 | % | 9.4 | % | 33.1 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 25.3 |
| | $ | (0.2 | ) | $ | 25.6 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | (0.1 | ) | 0.1 |
|
| Adjusted | | $ | 153.2 |
| | $ | 24.9 |
| $ | 114.3 |
|
| As a % of reported net sales | | 57.3 | % | | 9.3 | % | 42.7 | % |
| |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2016 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | July 2, 2016 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 293.3 |
| $ | 129.4 |
| $ | 16.6 |
| $ | 24.9 |
| $ | 87.9 |
|
| As a % of reported net sales | | 44.1 | % | 5.7 | % | 8.5 | % | 30.0 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 25.8 |
| | | $ | 25.8 |
|
| Adjusted | | $ | 155.2 |
| | | $ | 113.7 |
|
| As a % of reported net sales | | 52.9 | % | | | 38.8 | % |
| | | | | | |
| | Three Months Ended |
| | October 1, 2016 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 271.0 |
| $ | 121.8 |
| $ | 19.7 |
| $ | 29.5 |
| $ | 72.6 |
|
| As a % of reported net sales | | 44.9 | % | 7.3 | % | 10.9 | % | 26.8 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 27.1 |
| | $ | (0.2 | ) | $ | 27.3 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | (5.0 | ) | 5.0 |
|
| Adjusted | | $ | 148.9 |
| | $ | 24.3 |
| $ | 104.9 |
|
| As a % of reported net sales | | 55.0 | % | | 9.0 | % | 38.7 | % |
| | | | | | |
| | Three Months Ended |
| | December 31, 2016 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 283.4 |
| $ | 121.5 |
| $ | 12.0 |
| $ | 34.1 |
| $ | (269.0 | ) |
| As a % of reported net sales | | 42.9 | % | 4.2 | % | 12.0 | % | (94.9 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 28.4 |
| | $ | (0.1 | ) | $ | 28.5 |
|
| Impairment charges | | — |
| | — |
| 342.4 |
|
| Restructuring charges and other termination benefits | | — |
| | — |
| 2.0 |
|
| Unusual litigation | | — |
| | (8.2 | ) | 8.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | (0.9 | ) | 0.9 |
|
| Adjusted | | $ | 149.9 |
| | $ | 24.9 |
| $ | 113.0 |
|
| As a % of reported net sales | | 52.9 | % | | 8.8 | % | 39.8 | % |
| |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2016 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Year Ended |
| | December 31, 2016 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 1,115.2 |
| $ | 500.6 |
| $ | 62.4 |
| $ | 113.7 |
| $ | (19.9 | ) |
| As a % of reported net sales | | 44.9 | % | 5.6 | % | 10.2 | % | (1.8 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 106.6 |
| | $ | (0.5 | ) | $ | 107.2 |
|
| Impairment charges | | — |
| | — |
| 342.4 |
|
| Restructuring charges and other termination benefits | | — |
| | — |
| 2.0 |
|
| Unusual litigation | | — |
| | (8.2 | ) | 8.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | (6.0 | ) | 6.0 |
|
| Adjusted | | $ | 607.2 |
| | $ | 99.0 |
| $ | 445.9 |
|
| As a % of reported net sales | | 54.5 | % | | 8.9 | % | 40.0 | % |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2017 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | April 1, 2017 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 582.8 |
| $ | 196.6 |
| $ | 16.6 |
| $ | 71.4 |
| $ | 83.2 |
|
| As a % of reported net sales | | 33.7 | % | 2.8 | % | 12.3 | % | 14.3 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.4 |
| | $ | (4.8 | ) | $ | 17.2 |
|
| Restructuring charges and other termination benefits | | — |
| | — |
| 23.7 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| 1.6 |
|
| Adjusted | | $ | 209.0 |
| | $ | 66.6 |
| $ | 125.7 |
|
| As a % of reported net sales | | 35.9 | % | | 11.4 | % | 21.6 | % |
| |
| | Three Months Ended |
| | July 1, 2017 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 604.8 |
| $ | 210.0 |
| $ | 18.0 |
| $ | 75.7 |
| $ | 110.5 |
|
| As a % of reported net sales | | 34.7 | % | 3.0 | % | 12.5 | % | 18.3 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.1 |
| | $ | (4.8 | ) | $ | 16.9 |
|
| Impairment charges | | — |
| | — |
| 4.1 |
|
| Restructuring charges and other termination benefits | | — |
| | — |
| 4.3 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| (2.5 | ) |
| Adjusted | | $ | 222.1 |
| | $ | 70.9 |
| $ | 133.3 |
|
| As a % of reported net sales | | 36.7 | % | | 11.7 | % | 22.0 | % |
| | | | | | |
| | Three Months Ended |
| | September 30, 2017 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 598.8 |
| $ | 211.4 |
| $ | 13.8 |
| $ | 70.4 |
| $ | 129.6 |
|
| As a % of reported net sales | | 35.3 | % | 2.3 | % | 11.8 | % | 21.6 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.1 |
| | $ | (4.8 | ) | $ | 16.9 |
|
| Impairment charges | | — |
| | — |
| 0.4 |
|
| Restructuring charges and other termination benefits | | — |
| | — |
| (0.8 | ) |
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| (2.0 | ) |
| Adjusted | | $ | 223.5 |
| | $ | 65.6 |
| $ | 144.1 |
|
| As a % of reported net sales | | 37.3 | % | | 10.9 | % | 24.1 | % |
| | | | | | |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2017 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | December 31, 2017 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 643.5 |
| $ | 225.7 |
| $ | 17.5 |
| $ | 61.6 |
| $ | 147.6 |
|
| As a % of reported net sales | | 35.1 | % | 2.7 | % | 9.6 | % | 22.9 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.1 |
| | $ | (4.8 | ) | $ | 16.9 |
|
| Unusual litigation | | — |
| | 10.2 |
| (10.2 | ) |
| Restructuring charges and other termination benefits | | — |
| | — |
| 0.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | (1.7 | ) | 0.5 |
|
| Adjusted | | $ | 237.8 |
| | $ | 65.3 |
| $ | 155.0 |
|
| As a % of reported net sales | | 37.0 | % | | 10.1 | % | 24.1 | % |
| | | | | | |
| | Year Ended |
| | December 31, 2017 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 2,429.9 |
| $ | 843.7 |
| $ | 65.9 |
| $ | 279.1 |
| $ | 470.9 |
|
| As a % of reported net sales | | 34.7 | % | 2.7 | % | 11.5 | % | 19.4 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 48.7 |
| | $ | (19.2 | ) | $ | 67.9 |
|
| Impairment charges | | — |
| | — |
| 4.5 |
|
| Unusual litigation | | — |
| | 10.2 |
| (10.2 | ) |
| Restructuring charges and other termination benefits | | — |
| | — |
| 27.4 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | (1.7 | ) | (2.4 | ) |
| Adjusted | | $ | 892.4 |
| | $ | 268.4 |
| $ | 558.1 |
|
| As a % of reported net sales | | 36.7 | % | | 11.0 | % | 23.0 | % |
| | | | | | |
| | Three Months Ended |
| | April 1, 2017 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 354.7 |
| $ | 162.1 |
| $ | 10.4 |
| $ | 149.3 |
| $ | (1.6 | ) |
| As a % of reported net sales | | 45.7 | % | 2.9 | % | 42.1 | % | (0.5 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 19.8 |
| $ | (0.2 | ) | $ | (26.5 | ) | $ | 46.6 |
|
| Impairment charges | | — |
| — |
| — |
| 1.1 |
|
| Operating results attributable to held-for-sale business* | | 0.5 |
| — |
| — |
| 0.5 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 2.9 |
|
| Adjusted | | $ | 182.4 |
| $ | 10.2 |
| $ | 122.8 |
| $ | 49.5 |
|
| As a % of reported net sales | | 51.4 | % | 2.9 | % | 34.6 | % | 13.9 | % |
| | | | | | |
| * Held-for-sale business includes the European Sports Brand. | | | | | |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2017 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | July 1, 2017 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 356.9 |
| $ | 167.3 |
| $ | 9.9 |
| $ | 152.2 |
| $ | (5.5 | ) |
| As a % of reported net sales | | 46.9 | % | 2.8 | % | 42.6 | % | (1.5 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 20.5 |
| $ | (0.4 | ) | $ | (27.8 | ) | $ | 48.6 |
|
| Impairment charges | | — |
| — |
| — |
| 3.7 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 6.4 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| — |
| — |
| 0.6 |
|
| Adjusted | | $ | 187.8 |
| $ | 9.5 |
| $ | 124.4 |
| $ | 53.8 |
|
| As a % of reported net sales | | 52.6 | % | 2.7 | % | 34.9 | % | 15.1 | % |
| |
| | Three Months Ended |
| | September 30, 2017 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 343.0 |
| $ | 157.4 |
| $ | 10.3 |
| $ | 141.5 |
| $ | 2.0 |
|
| As a % of reported net sales | | 45.9 | % | 3.0 | % | 41.3 | % | 0.6 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 21.5 |
| $ | (0.3 | ) | $ | (29.5 | ) | $ | 51.5 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 3.5 |
|
| Adjusted | | $ | 178.9 |
| $ | 10.0 |
| $ | 112.0 |
| $ | 57.0 |
|
| As a % of reported net sales | | 52.2 | % | 2.9 | % | 32.6 | % | 16.6 | % |
| | | | | | |
| | Three Months Ended |
| | December 31, 2017 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 351.6 |
| $ | 164.4 |
| $ | 10.2 |
| $ | 147.9 |
| $ | 2.4 |
|
| As a % of reported net sales | | 46.8 | % | 2.9 | % | 42.1 | % | 0.7 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 21.7 |
| $ | (0.3 | ) | $ | (29.5 | ) | $ | 51.4 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 3.6 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| — |
| 2.4 |
| (2.0 | ) |
| Adjusted | | $ | 186.1 |
| $ | 9.9 |
| $ | 120.8 |
| $ | 55.4 |
|
| As a % of reported net sales | | 52.9 | % | 2.8 | % | 34.3 | % | 15.8 | % |
| | | | | | |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2017 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Year Ended |
| | December 31, 2017 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 1,406.2 |
| $ | 651.2 |
| $ | 40.8 |
| $ | 590.9 |
| $ | (2.7 | ) |
| As a % of reported net sales | | 46.3 | % | 2.9 | % | 42.0 | % | (0.2 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 83.5 |
| $ | (1.2 | ) | $ | (113.3 | ) | $ | 198.1 |
|
| Impairment charges | | — |
| — |
| — |
| 4.8 |
|
| Operating results attributable to held-for-sale business* | | 0.5 |
| — |
| — |
| 0.5 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 16.4 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| — |
| 2.4 |
| (1.4 | ) |
| Adjusted | | $ | 735.2 |
| $ | 39.6 |
| $ | 480.0 |
| $ | 215.7 |
|
| As a % of reported net sales | | 52.3 | % | 2.8 | % | 34.1 | % | 15.3 | % |
| | | | | | |
| * Held-for-sale business includes the European Sports Brand. | | | | | |
|
| | | | | | | | | | | | | | | |
| | Three Months Ended |
| | April 1, 2017 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 237.6 |
| $ | 95.5 |
| $ | 11.1 |
| $ | 21.5 |
| $ | 84.0 |
|
| As a % of reported net sales | | 40.2 | % | 4.7 | % | 9.0 | % | 35.4 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 22.4 |
| | $ | (0.1 | ) | $ | 22.6 |
|
| Impairment charges | | — |
| | — |
| 11.1 |
|
| Gain/loss on divestitures | | — |
| | — |
| (21.8 | ) |
| Restructuring charges and other termination benefits | | — |
| | — |
| 5.6 |
|
| Operating results attributable to held-for-sale business | | (0.1 | ) | | — |
| (0.1 | ) |
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| (16.1 | ) |
| Adjusted | | $ | 117.8 |
| | $ | 21.4 |
| $ | 85.3 |
|
| As a % of reported net sales | | 49.6 | % | | 9.0 | % | 35.9 | % |
| | | | | | |
| | Three Months Ended |
| | July 1, 2017 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 260.0 |
| $ | 119.6 |
| $ | 12.7 |
| $ | 11.8 |
| $ | 74.8 |
|
| As a % of reported net sales | | 46.0 | % | 4.9 | % | 4.5 | % | 28.8 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 22.5 |
| | $ | (0.1 | ) | $ | 22.6 |
|
| Unusual litigation | | — |
| | 8.8 |
| (8.8 | ) |
| Impairment charges | | — |
| | — |
| 19.6 |
|
| Gain/loss on divestitures | | — |
| | — |
| (1.1 | ) |
| Restructuring charges and other termination benefits | | — |
| | — |
| 0.4 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| 1.4 |
|
| Adjusted | | $ | 142.1 |
| | $ | 20.5 |
| $ | 108.9 |
|
| As a % of reported net sales | | 54.7 | % | | 7.9 | % | 41.9 | % |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2017 |
| (in millions) |
| (unaudited) |
| | |
| | Three Months Ended |
| | September 30, 2017 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 273.0 |
| $ | 120.0 |
| $ | 12.4 |
| $ | 22.5 |
| $ | 81.7 |
|
| As a % of reported net sales | | 44.0 | % | 4.6 | % | 8.3 | % | 29.9 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 21.2 |
| | $ | (0.1 | ) | $ | 21.3 |
|
| Impairment charges | | — |
| | — |
| 4.0 |
|
| Restructuring charges and other termination benefits | | — |
| | — |
| 0.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| (0.9 | ) |
| Adjusted | | $ | 141.2 |
| | $ | 22.4 |
| $ | 106.3 |
|
| As a % of reported net sales | | 51.7 | % | | 8.2 | % | 39.0 | % |
| |
| | Three Months Ended |
| | December 31, 2017 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 283.8 |
| $ | 119.5 |
| $ | 17.9 |
| $ | 35.4 |
| $ | 65.6 |
|
| As a % of reported net sales | | 42.1 | % | 6.3 | % | 12.5 | % | 23.1 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 21.7 |
| | $ | 0.3 |
| $ | 21.3 |
|
| Unusual litigation | | — |
| | (10.0 | ) | 10.0 |
|
| Impairment charges | | — |
| | — |
| 0.1 |
|
| Gain/loss on divestitures | | — |
| | — |
| (0.3 | ) |
| Restructuring charges and other termination benefits | | — |
| | — |
| 0.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| 0.7 |
|
| Adjusted | | $ | 141.2 |
| | $ | 25.7 |
| $ | 97.6 |
|
| As a % of reported net sales | | 49.7 | % | | 9.1 | % | 34.4 | % |
| | | | | | |
| | Year Ended |
| | December 31, 2017 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 1,054.4 |
| $ | 454.6 |
| $ | 54.1 |
| $ | 91.2 |
| $ | 306.1 |
|
| As a % of reported net sales | | 43.1 | % | 5.1 | % | 8.6 | % | 29.0 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 87.8 |
| | $ | — |
| $ | 87.8 |
|
| Unusual litigation | | — |
| | (1.2 | ) | 1.2 |
|
| Impairment charges | | — |
| | — |
| 34.8 |
|
| Gain/loss on divestitures | | — |
| | — |
| (23.2 | ) |
| Restructuring charges and other termination benefits | | — |
| | — |
| 6.4 |
|
| Operating results attributable to held-for-sale business | | (0.1 | ) | | — |
| (0.1 | ) |
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| (14.9 | ) |
| Adjusted | | $ | 542.3 |
| | $ | 90.0 |
| $ | 398.1 |
|
| As a % of reported net sales | | 51.4 | % | | 8.5 | % | 37.8 | % |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2018 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | March 31, 2018 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 601.6 |
| $ | 205.9 |
| $ | 15.2 |
| $ | 71.5 |
| $ | 118.6 |
|
| As a % of reported net sales | | 34.2 | % | 2.5 | % | 11.9 | % | 19.7 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 10.5 |
| | $ | (4.7 | ) | $ | 15.2 |
|
| Restructuring charges and other termination benefits | | — |
| | — |
| 0.4 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| 0.1 |
|
| Adjusted | | $ | 216.4 |
| | $ | 66.8 |
| $ | 134.3 |
|
| As a % of reported net sales | | 36.0 | % | | 11.1 | % | 22.3 | % |
| |
| | Three Months Ended |
| | June 30, 2018 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 596.9 |
| $ | 202.5 |
| $ | 66.4 |
| $ | 72.4 |
| $ | 64.6 |
|
| As a % of reported net sales | | 33.9 | % | 11.1 | % | 12.1 | % | 10.8 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 10.6 |
| $ | — |
| $ | (4.8 | ) | $ | 15.3 |
|
| Impairment charges | | — |
| — |
| — |
| 0.6 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| (50.0 | ) | — |
| 48.5 |
|
| Adjusted | | $ | 213.1 |
| $ | 16.4 |
| $ | 67.6 |
| $ | 129.0 |
|
| As a % of reported net sales | | 35.7 | % | 2.7 | % | 11.3 | % | 21.6 | % |
| | | | | | |
| | Three Months Ended |
| | September 29, 2018 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 596.2 |
| $ | 189.5 |
| $ | 13.8 |
| $ | 73.0 |
| $ | (119.0 | ) |
| As a % of reported net sales | | 31.8 | % | 2.3 | % | 12.2 | % | (20.0 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 10.6 |
| | $ | (4.7 | ) | $ | 15.3 |
|
| Impairment charges | | — |
| | — |
| 221.7 |
|
| Adjusted | | $ | 200.1 |
| | $ | 68.3 |
| $ | 118.0 |
|
| As a % of reported net sales | | 33.6 | % | | 11.4 | % | 19.8 | % |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2018 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | December 31, 2018 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 616.9 |
| $ | 191.1 |
| $ | 15.3 |
| $ | 65.4 |
| $ | 110.2 |
|
| As a % of reported net sales | | 31.0 | % | 2.5 | % | 10.6 | % | 17.9 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 5.5 |
| | $ | (4.7 | ) | $ | 10.2 |
|
| Impairment charges | | — |
| | — |
| 0.3 |
|
| Adjusted | | $ | 196.6 |
| | $ | 60.7 |
| $ | 120.7 |
|
| As a % of adjusted net sales | | 31.9 | % | | 9.8 | % | 19.6 | % |
| | | | | | |
| | Year Ended |
| | December 31, 2018 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 2,411.6 |
| $ | 789.0 |
| $ | 110.7 |
| $ | 282.3 |
| $ | 174.4 |
|
| As a % of reported net sales | | 32.7 | % | 4.6 | % | 11.7 | % | 7.2 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 37.2 |
| $ | — |
| $ | (18.9 | ) | $ | 56.0 |
|
| Impairment charges | | — |
| — |
| — |
| 222.6 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 0.4 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| (50.0 | ) | — |
| 48.6 |
|
| Adjusted | | $ | 826.2 |
| $ | 60.7 |
| $ | 263.4 |
| $ | 502.0 |
|
| As a % of reported net sales | | 34.3 | % | 2.5 | % | 10.9 | % | 20.8 | % |
| | | | | | |
| | Three Months Ended |
| | March 31, 2018 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 377.8 |
| $ | 185.9 |
| $ | 10.6 |
| $ | 162.4 |
| $ | 12.3 |
|
| As a % of reported net sales | | 49.2 | % | 2.8 | % | 43.0 | % | 3.3 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 22.5 |
| $ | (0.3 | ) | $ | (29.7 | ) | $ | 52.5 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 0.6 |
|
| Adjusted | | $ | 208.4 |
| $ | 10.3 |
| $ | 132.7 |
| $ | 65.4 |
|
| As a % of reported net sales | | 55.2 | % | 2.7 | % | 35.1 | % | 17.3 | % |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2018 |
| (in millions) |
| (unaudited) |
| | |
| | Three Months Ended |
| | June 30, 2018 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 357.9 |
| $ | 173.2 |
| $ | 11.2 |
| $ | 156.5 |
| $ | 4.0 |
|
| As a % of reported net sales | | 48.4 | % | 3.1 | % | 43.7 | % | 1.1 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 21.8 |
| $ | (0.3 | ) | $ | (28.4 | ) | $ | 50.4 |
|
| Impairment charges | | — |
| — |
| — |
| 1.0 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 0.5 |
|
| Adjusted | | $ | 195.0 |
| $ | 10.9 |
| $ | 128.1 |
| $ | 55.9 |
|
| As a % of reported net sales | | 54.5 | % | 3.0 | % | 35.8 | % | 15.6 | % |
| | | | | | |
| | Three Months Ended |
| | September 29, 2018 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 334.2 |
| $ | 158.6 |
| $ | 10.3 |
| $ | 134.9 |
| $ | (4.7 | ) |
| As a % of reported net sales | | 47.5 | % | 3.1 | % | 40.3 | % | (1.4 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 21.2 |
| $ | (0.2 | ) | $ | (27.9 | ) | $ | 49.4 |
|
| Impairment charges | | — |
| — |
| — |
| 0.1 |
|
| Unusual litigation | | — |
| — |
| (1.4 | ) | 1.4 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 18.0 |
|
| Adjusted | | $ | 179.8 |
| $ | 10.1 |
| $ | 105.6 |
| $ | 64.2 |
|
| As a % of reported net sales | | 53.8 | % | 3.0 | % | 31.6 | % | 19.2 | % |
| | | | | | |
| | Three Months Ended |
| | December 31, 2018 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income (Loss) |
| Reported | $ | 329.4 |
| $ | 151.0 |
| $ | 11.8 |
| $ | 145.0 |
| $ | (4.8 | ) |
| As a % of reported net sales | | 45.8 | % | 3.6 | % | 44.0 | % | (1.5 | )% |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 20.9 |
| $ | (0.2 | ) | $ | (25.5 | ) | $ | 46.6 |
|
| Impairment charges | | — |
| — |
| — |
| 0.7 |
|
| Unusual litigation | | — |
| — |
| (1.8 | ) | 1.8 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| (1.7 | ) |
| Adjusted | | $ | 171.9 |
| $ | 11.6 |
| $ | 117.7 |
| $ | 42.6 |
|
| As a % of reported net sales | | 52.2 | % | 3.5 | % | 35.7 | % | 12.9 | % |
| | | | | | |
| | | | | | |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2018 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Year Ended |
| | December 31, 2018 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 1,399.3 |
| $ | 668.7 |
| $ | 43.9 |
| $ | 598.8 |
| $ | 6.8 |
|
| As a % of reported net sales | | 47.8 | % | 3.1 | % | 42.8 | % | 0.5 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 86.4 |
| $ | (1.0 | ) | $ | (111.5 | ) | $ | 198.9 |
|
| Impairment charges | | — |
| — |
| — |
| 1.8 |
|
| Unusual litigation | | — |
| — |
| (3.2 | ) | 3.2 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 17.4 |
|
| Adjusted | | $ | 755.1 |
| $ | 42.9 |
| $ | 484.1 |
| $ | 228.1 |
|
| As a % of reported net sales | | 54.0 | % | 3.1 | % | 34.6 | % | 16.3 | % |
| | | | | | |
| | Three Months Ended |
| | March 31, 2018 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 237.6 |
| $ | 100.9 |
| $ | 12.6 |
| $ | 24.1 |
| $ | 61.2 |
|
| As a % of reported net sales | | 42.5 | % | 5.3 | % | 10.1 | % | 25.8 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 20.9 |
| | | $ | 20.9 |
|
| Gain/loss on divestitures | | — |
| | | (1.2 | ) |
| Restructuring charges and other termination benefits | | — |
| | | 0.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | | 4.0 |
|
| Adjusted | | $ | 121.8 |
| | | $ | 85.1 |
|
| As a % of reported net sales | | 51.2 | % | | | 35.8 | % |
| |
| | Three Months Ended |
| | June 30, 2018 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 231.6 |
| $ | 95.3 |
| $ | 14.4 |
| $ | 22.6 |
| $ | 53.6 |
|
| As a % of reported net sales | | 41.1 | % | 6.2 | % | 9.8 | % | 23.1 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 20.6 |
| | $ | (0.2 | ) | $ | 20.8 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | $ | — |
| | $ | — |
| $ | 4.7 |
|
| Adjusted | | $ | 115.9 |
| | $ | 22.4 |
| $ | 79.1 |
|
| As a % of reported net sales | | 50.0 | % | | 9.7 | % | 34.1 | % |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND FISCAL YEAR 2018 |
| (in millions) |
| (unaudited) |
| | |
| | Three Months Ended |
| | September 29, 2018 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 202.8 |
| $ | 76.8 |
| $ | 19.5 |
| $ | 20.7 |
| $ | 36.1 |
|
| As a % of reported net sales | | 37.9 | % | 9.6 | % | 10.2 | % | 17.8 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 20.6 |
| | $ | (0.1 | ) | $ | 20.8 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| 0.5 |
|
| Adjusted | | $ | 97.4 |
| | $ | 20.6 |
| $ | 57.4 |
|
| As a % of reported net sales | | 48.1 | % | | 10.1 | % | 28.3 | % |
| |
| | Three Months Ended |
| | December 31, 2018 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 248.8 |
| $ | 100.9 |
| $ | 17.5 |
| $ | 21.1 |
| $ | 63.7 |
|
| As a % of reported net sales | | 40.6 | % | 7.0 | % | 8.5 | % | 25.6 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 21.0 |
| | $ | (0.2 | ) | $ | 21.1 |
|
| Gain/loss on divestitures | | — |
| | — |
| (0.2 | ) |
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| (1.2 | ) |
| Adjusted | | $ | 121.9 |
| | $ | 20.9 |
| $ | 83.4 |
|
| As a % of reported net sales | | 49.0 | % | | 8.4 | % | 33.5 | % |
| | | | | | |
| | Year Ended |
| | December 31, 2018 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 920.8 |
| $ | 373.9 |
| $ | 64.0 |
| $ | 88.5 |
| $ | 214.6 |
|
| As a % of reported net sales | | 40.6 | % | 6.9 | % | 9.6 | % | 23.3 | % |
| Adjustments: | | | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 83.1 |
| | $ | (0.5 | ) | $ | 83.6 |
|
| Gain/loss on divestitures | | — |
| | — |
| (1.4 | ) |
| Restructuring charges and other termination benefits | | — |
| | — |
| 0.2 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| 8.0 |
|
| Adjusted | | $ | 457.0 |
| | $ | 88.0 |
| $ | 305.0 |
|
| As a % of reported net sales | | 49.6 | % | | 9.6 | % | 33.1 | % |
|
| | | | | | | | | | | | | | | |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| FIRST QUARTER 2019 |
| (in millions) |
| (unaudited) |
| | | | | | |
| | Three Months Ended |
| | March 30, 2019 |
| Consumer Self-Care Americas | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating
Income |
| Reported | $ | 581.8 |
| $ | 184.0 |
| $ | 15.6 |
| $ | 73.3 |
| $ | 94.2 |
|
| As a % of reported net sales | | 31.6 | % | 2.7 | % | 12.6 | % | 16.2 | % |
| Adjustments: | | | | | |
| Amortization expense related primarily to acquired intangible assets | | $ | 5.4 |
| | $ | (4.7 | ) | $ | 10.1 |
|
| Unusual litigation | | — |
| | (1.2 | ) | 1.2 |
|
| Impairment charges | | — |
| | — |
| 4.1 |
|
| Restructuring charges and other termination benefits | | — |
| | — |
| 0.8 |
|
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| (4.1 | ) |
| Adjusted | | $ | 189.4 |
| | $ | 67.4 |
| $ | 106.3 |
|
| As a % of reported net sales | | 32.5 | % | | 11.6 | % | 18.3 | % |
| | | | | | |
| |
| |
|
| | | | | | | | | | | | | | | |
| | Three Months Ended |
| | March 30, 2019 |
| Consumer Self-Care International | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 350.8 |
| $ | 168.4 |
| $ | 10.3 |
| $ | 149.4 |
| $ | 8.1 |
|
| As a % of reported net sales | | 48.0 | % | 2.9 | % | 42.6 | % | 2.3 | % |
| Adjustments: | | | | | |
| Amortization expense related primarily to acquired intangible assets | | $ | 20.8 |
| $ | (0.1 | ) | $ | (24.2 | ) | $ | 45.1 |
|
| Restructuring charges and other termination benefits | | — |
| — |
| — |
| 0.6 |
|
| Unusual litigation | | — |
| — |
| (0.3 | ) | 0.3 |
|
| Adjusted | | $ | 189.2 |
| $ | 10.2 |
| $ | 124.9 |
| $ | 54.1 |
|
| As a % of reported net sales | | 53.9 | % | 2.9 | % | 35.6 | % | 15.4 | % |
| | | | | | |
| |
|
| | | | | | | | | | | | | | | |
| | Three Months Ended |
| | March 30, 2019 |
| Prescription Pharmaceuticals | Net
Sales | Gross
Profit | R&D Expense | DSG&A Expense | Operating Income |
| Reported | $ | 241.9 |
| $ | 96.4 |
| $ | 14.3 |
| $ | 21.6 |
| $ | 60.6 |
|
| As a % of reported net sales | | 39.9 | % | 5.9 | % | 8.9 | % | 25.1 | % |
| Adjustments: | | | | | |
| Amortization expense related primarily to acquired intangible assets | | $ | 21.2 |
| | $ | (0.1 | ) | $ | 21.3 |
|
| Gain/loss on divestitures | | — |
| | — |
| (1.3 | ) |
Acquisition and integration-related charges and contingent
consideration adjustments | | — |
| | — |
| 1.3 |
|
| Adjusted | | $ | 117.6 |
| | $ | 21.5 |
| $ | 81.9 |
|
| As a % of reported net sales | | 48.6 | % | | 8.9 | % | 33.9 | % |
| | | |
