PRGO
PERRIGO COMPANY PLC SELECTED SEGMENT INFORMATION QUARTERS AND CALENDAR YEAR TO DATE 2016 (in millions) (unaudited) Three Months Ended Nine Months Ended Consumer Healthcare Americas
Tuesday, January 10, 2017 1 min read
Key Takeaway: SELECTED SEGMENT INFORMATION
QUARTERS AND CALENDAR YEAR TO DATE 2016
Three Months Ended Nine Months Ended Consumer Healthcare Americas April 2, 2016 July 2, 2016 October 1, 2016 October 1, 2016 Net sales $ 639.1 $ 629.9 $ 611.2 $ 1,880.2 Gross profit $ 199.0 $ 216.
Full Press Release Details
SELECTED SEGMENT INFORMATION
QUARTERS AND CALENDAR YEAR TO DATE 2016
| | Three Months Ended | Nine Months Ended |
| Consumer Healthcare Americas | April 2, 2016 | | July 2, 2016 | | October 1, 2016 | | October 1, 2016 |
| Net sales | $ | 639.1 | | | $ | 629.9 | | | $ | 611.2 | | | $ | 1,880.2 | |
| Gross profit | $ | 199.0 | | | $ | 216.1 | | | $ | 200.0 | | | $ | 615.1 | |
| Operating income | $ | 103.6 | | | $ | 112.9 | | | $ | 99.8 | | | $ | 316.3 | |
| Selected ratios as a percentage of net sales | | | | |
| Gross profit | 31.1 | % | | 34.3 | % | | 32.7 | % | | 32.7 | % |
| Operating income | 16.2 | % | | 17.9 | % | | 16.3 | % | | 16.8 | % |
| | Three Months Ended | Nine Months Ended |
| Consumer Healthcare International | April 2, 2016 | | July 2, 2016 | | October 1, 2016 | | October 1, 2016 |
| Net sales | $ | 394.2 | | | $ | 466.5 | | | $ | 377.4 | | | $ | 1,238.1 | |
| Gross profit | $ | 177.8 | | | $ | 195.1 | | | $ | 155.6 | | | $ | 528.5 | |
| Operating income (loss) | $ | (481.0 | ) | | $ | 40.8 | | | $ | (1,680.5 | ) | | $ | (2,120.7 | ) |
| Selected ratios as a percentage of net sales | | | | |
| Gross profit | 45.1 | % | | 41.8 | % | | 41.2 | % | | 42.7 | % |
| Operating income (loss) | (122.0 | )% | | 8.8 | % | | (445.3 | )% | | (171.3 | )% |
| | Three Months Ended | Nine Months Ended |
| Prescription Pharmaceuticals | April 2, 2016 | | July 2, 2016 | | October 1, 2016 | | October 1, 2016 |
| Net sales | $ | 241.3 | | | $ | 276.9 | | | $ | 251.9 | | | $ | 770.1 | |
| Gross profit | $ | 121.0 | | | $ | 131.4 | | | $ | 120.9 | | | $ | 373.3 | |
| Operating income | $ | 84.5 | | | $ | 92.6 | | | $ | 74.4 | | | $ | 251.5 | |
| Selected ratios as a percentage of net sales | | | | |
| Gross profit | 50.1 | % | | 47.5 | % | | 48.0 | % | | 48.5 | % |
| Operating income | 35.0 | % | | 33.5 | % | | 29.5 | % | | 32.7 | % |
SELECTED SEGMENT INFORMATION
QUARTERS AND CALENDAR YEAR TO DATE 2015
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare Americas | March 28, 2015 | | June 27, 2015 | | September 26, 2015 | | December 31, 2015 | | December 31, 2015 |
| Net sales | $ | 622.8 | | | $ | 679.9 | | | $ | 608.3 | | | $ | 643.2 | | | $ | 2,554.2 | |
| Gross profit | $ | 196.9 | | | $ | 238.3 | | | $ | 211.6 | | | $ | 204.7 | | | $ | 851.5 | |
| Operating income | $ | 104.0 | | | $ | 140.0 | | | $ | 116.2 | | | $ | 91.3 | | | $ | 451.5 | |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 31.6 | % | | 35.1 | % | | 34.8 | % | | 31.8 | % | | 33.3 | % |
| Operating income | 16.7 | % | | 20.6 | % | | 19.1 | % | | 14.2 | % | | 17.7 | % |
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare International | March 28, 2015 | | June 27, 2015 | | September 26, 2015 | | December 31, 2015 | | December 31, 2015 |
| Net sales | $ | 76.6 | | | $ | 483.7 | | | $ | 385.8 | | | $ | 409.2 | | | $ | 1,355.3 | |
| Gross profit | $ | 21.2 | | | $ | 217.0 | | | $ | 191.3 | | | $ | 195.8 | | | $ | 625.3 | |
| Operating income (loss) | $ | 2.3 | | | $ | 31.6 | | | $ | 8.5 | | | $ | (155.7 | ) | | $ | (113.3 | ) |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 27.7 | % | | 44.9 | % | | 49.6 | % | | 47.8 | % | | 46.1 | % |
| Operating income (loss) | 2.9 | % | | 6.5 | % | | 2.2 | % | | (38.0 | )% | | (8.4 | )% |
| | Three Months Ended | | Twelve Months Ended |
| Prescription Pharmaceuticals | March 28, 2015 | | June 27, 2015 | | September 26, 2015 | | December 31, 2015 | | December 31, 2015 |
| Net sales | $ | 237.0 | | | $ | 262.2 | | | $ | 243.6 | | | $ | 266.0 | | | $ | 1,008.8 | |
| Gross profit | $ | 135.5 | | | $ | 154.3 | | | $ | 122.8 | | | $ | 137.6 | | | $ | 550.2 | |
| Operating income | $ | 98.1 | | | $ | 97.8 | | | $ | 87.7 | | | $ | 101.2 | | | $ | 384.8 | |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 57.2 | % | | 58.9 | % | | 50.4 | % | | 51.7 | % | | 54.5 | % |
| Operating income | 41.4 | % | | 37.3 | % | | 36.0 | % | | 38.0 | % | | 38.1 | % |
SELECTED SEGMENT INFORMATION
QUARTERS AND CALENDAR YEAR TO DATE 2014
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare Americas | March 29, 2014 | | June 28, 2014 | | September 27, 2014 | | December 27, 2014 | | December 27, 2014 |
| Net sales | $ | 628.6 | | | $ | 698.9 | | | $ | 565.6 | | | $ | 610.5 | | | $ | 2,503.6 | |
| Gross profit | $ | 191.9 | | | $ | 225.2 | | | $ | 171.9 | | | $ | 187.7 | | | $ | 776.7 | |
| Operating income | $ | 89.0 | | | $ | 115.8 | | | $ | 70.2 | | | $ | 79.2 | | | $ | 354.2 | |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 30.5 | % | | 32.2 | % | | 30.4 | % | | 30.7 | % | | 31.0 | % |
| Operating income | 14.2 | % | | 16.6 | % | | 12.4 | % | | 13.0 | % | | 14.1 | % |
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare International | March 29, 2014 | | June 28, 2014 | | September 27, 2014 | | December 27, 2014 | | December 27, 2014 |
| Net sales | $ | 81.3 | | | $ | 90.3 | | | $ | 91.6 | | | $ | 85.5 | | | $ | 348.7 | |
| Gross profit | $ | 24.4 | | | $ | 27.3 | | | $ | 28.5 | | | $ | 27.4 | | | $ | 107.6 | |
| Operating income | $ | 4.6 | | | $ | 5.9 | | | $ | 7.1 | | | $ | 7.0 | | | $ | 24.6 | |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 30.0 | % | | 30.2 | % | | 31.1 | % | | 32.1 | % | | 30.8 | % |
| Operating income | 5.7 | % | | 6.5 | % | | 7.7 | % | | 8.2 | % | | 7.1 | % |
| | Three Months Ended | | Twelve Months Ended |
| Prescription Pharmaceuticals | March 29, 2014 | | June 28, 2014 | | September 27, 2014 | | December 27, 2014 | | December 27, 2014 |
| Net sales | $ | 208.8 | | | $ | 236.6 | | | $ | 177.7 | | | $ | 259.0 | | | $ | 882.1 | |
| Gross profit | $ | 107.6 | | | $ | 128.4 | | | $ | 89.1 | | | $ | 141.4 | | | $ | 466.5 | |
| Operating income | $ | 75.9 | | | $ | 86.0 | | | $ | 62.2 | | | $ | 106.6 | | | $ | 330.7 | |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 51.5 | % | | 54.3 | % | | 50.1 | % | | 54.6 | % | | 52.9 | % |
| Operating income | 36.4 | % | | 36.4 | % | | 35.0 | % | | 41.2 | % | | 37.5 | % |
SELECTED SEGMENT INFORMATION
QUARTERS AND CALENDAR YEAR TO DATE 2013
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare Americas | March 30, 2013 | | June 29, 2013 | | September 28, 2013 | | December 28, 2013 | | December 28, 2013 |
| Net sales | $ | 629.5 | | | $ | 668.0 | | | $ | 625.0 | | | $ | 628.7 | | | $ | 2,551.2 | |
| Gross profit | $ | 199.2 | | | $ | 229.5 | | | $ | 198.7 | | | $ | 199.9 | | | $ | 827.3 | |
| Operating income | $ | 104.0 | | | $ | 118.4 | | | $ | 97.4 | | | $ | 102.4 | | | $ | 422.2 | |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 31.6 | % | | 34.4 | % | | 31.8 | % | | 31.8 | % | | 32.4 | % |
| Operating income | 16.5 | % | | 17.7 | % | | 15.6 | % | | 16.3 | % | | 16.5 | % |
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare International | March 30, 2013 | | June 29, 2013 | | September 28, 2013 | | December 28, 2013 | | December 28, 2013 |
| Net sales | $ | 68.1 | | | $ | 78.3 | | | $ | 76.2 | | | $ | 83.3 | | | $ | 305.9 | |
| Gross profit | $ | 17.4 | | | $ | 19.8 | | | $ | 21.6 | | | $ | 24.0 | | | $ | 82.8 | |
| Operating income | $ | 0.8 | | | $ | 0.9 | | | $ | 3.9 | | | $ | 2.6 | | | $ | 8.2 | |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 25.6 | % | | 25.3 | % | | 28.3 | % | | 28.9 | % | | 27.1 | % |
| Operating income | 1.2 | % | | 1.2 | % | | 5.1 | % | | 3.1 | % | | 2.7 | % |
| | Three Months Ended | | Twelve Months Ended |
| Prescription Pharmaceuticals | March 30, 2013 | | June 29, 2013 | | September 28, 2013 | | December 28, 2013 | | December 28, 2013 |
| Net sales | $ | 181.2 | | | $ | 180.0 | | | $ | 189.1 | | | $ | 229.6 | | | $ | 779.9 | |
| Gross profit | $ | 93.8 | | | $ | 88.2 | | | $ | 106.2 | | | $ | 121.5 | | | $ | 409.7 | |
| Operating income | $ | 73.1 | | | $ | 57.6 | | | $ | 80.6 | | | $ | 98.9 | | | $ | 310.2 | |
| Selected ratios as a percentage of net sales | | | | | | |
| Gross profit | 51.8 | % | | 49.0 | % | | 56.1 | % | | 52.9 | % | | 52.5 | % |
| Operating income | 40.4 | % | | 32.0 | % | | 42.7 | % | | 43.1 | % | | 39.8 | % |
ADJUSTED SELECTED SEGMENT INFORMATION (1)
QUARTERS AND CALENDAR YEAR TO DATE 2016
| | Three Months Ended | Nine Months Ended |
| Consumer Healthcare Americas | April 2, 2016 | | July 2, 2016 | | October 1, 2016 | | October 1, 2016 |
| Adjusted net sales | $ | 592.0 | | | $ | 587.8 | | | $ | 590.2 | | | $ | 1,770.0 | |
| Adjusted gross profit | $ | 204.8 | | | $ | 221.3 | | | $ | 209.1 | | | $ | 635.2 | |
| Adjusted operating income | $ | 120.9 | | | $ | 133.8 | | | $ | 125.2 | | | $ | 379.9 | |
| Selected ratios as a percentage of adjusted net sales | | | | |
| Adjusted gross profit | 34.6 | % | | 37.6 | % | | 35.4 | % | | 35.9 | % |
| Adjusted operating income | 20.4 | % | | 22.8 | % | | 21.2 | % | | 21.5 | % |
| | Three Months Ended | Nine Months Ended |
| Consumer Healthcare International | April 2, 2016 | | July 2, 2016 | | October 1, 2016 | | October 1, 2016 |
| Adjusted net sales | $ | 394.2 | | | $ | 466.4 | | | $ | 377.2 | | | $ | 1,237.8 | |
| Adjusted gross profit | $ | 190.8 | | | $ | 212.9 | | | $ | 172.3 | | | $ | 576.0 | |
| Adjusted operating income | $ | 33.3 | | | $ | 66.5 | | | $ | 40.5 | | | $ | 140.3 | |
| Selected ratios as a percentage of adjusted net sales | | | | |
| Adjusted gross profit | 48.4 | % | | 45.6 | % | | 45.7 | % | | 46.5 | % |
| Adjusted operating income | 8.4 | % | | 14.3 | % | | 10.7 | % | | 11.3 | % |
| | Three Months Ended | Nine Months Ended |
| Prescription Pharmaceuticals | April 2, 2016 | | July 2, 2016 | | October 1, 2016 | | October 1, 2016 |
| Adjusted net sales | $ | 241.3 | | | $ | 276.9 | | | $ | 251.9 | | | $ | 770.1 | |
| Adjusted gross profit | $ | 146.2 | | | $ | 157.4 | | | $ | 148.0 | | | $ | 451.6 | |
| Adjusted operating income | $ | 110.0 | | | $ | 118.5 | | | $ | 106.5 | | | $ | 335.0 | |
| Selected ratios as a percentage of adjusted net sales | | | | |
| Adjusted gross profit | 60.6 | % | | 56.8 | % | | 58.7 | % | | 58.6 | % |
| Adjusted operating income | 45.6 | % | | 42.8 | % | | 42.3 | % | | 43.5 | % |
| (1) See attached Table I for reconciliation to GAAP numbers. | | | | |
ADJUSTED SELECTED SEGMENT INFORMATION (1)
QUARTERS AND CALENDAR YEAR TO DATE 2015
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare Americas | March 28, 2015 | | June 27, 2015 | | September 26, 2015 | | December 31, 2015 | | December 31, 2015 |
| Adjusted net sales | $ | 622.8 | | | $ | 679.9 | | | $ | 608.3 | | | $ | 643.2 | | | $ | 2,554.2 | |
| Adjusted gross profit | $ | 205.7 | | | $ | 247.5 | | | $ | 224.4 | | | $ | 216.8 | | | $ | 894.4 | |
| Adjusted operating income | $ | 119.2 | | | $ | 154.1 | | | $ | 135.6 | | | $ | 123.7 | | | $ | 532.6 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 33.0 | % | | 36.4 | % | | 36.9 | % | | 33.7 | % | | 35.0 | % |
| Adjusted operating income | 19.1 | % | | 22.7 | % | | 22.3 | % | | 19.2 | % | | 20.9 | % |
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare International | March 28, 2015 | | June 27, 2015 | | September 26, 2015 | | December 31, 2015 | | December 31, 2015 |
| Adjusted net sales | $ | 76.6 | | | $ | 483.7 | | | $ | 385.8 | | | $ | 409.2 | | | $ | 1,355.3 | |
| Adjusted gross profit | $ | 26.1 | | | $ | 244.7 | | | $ | 201.4 | | | $ | 207.2 | | | $ | 679.4 | |
| Adjusted operating income | $ | 8.4 | | | $ | 88.6 | | | $ | 54.7 | | | $ | 52.4 | | | $ | 204.1 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 34.1 | % | | 50.6 | % | | 52.2 | % | | 50.6 | % | | 50.1 | % |
| Adjusted operating income | 10.9 | % | | 18.3 | % | | 14.2 | % | | 12.8 | % | | 15.1 | % |
| | Three Months Ended | | Twelve Months Ended |
| Prescription Pharmaceuticals | March 28, 2015 | | June 27, 2015 | | September 26, 2015 | | December 31, 2015 | | December 31, 2015 |
| Adjusted net sales | $ | 237.0 | | | $ | 262.2 | | | $ | 243.6 | | | $ | 266.0 | | | $ | 1,008.8 | |
| Adjusted gross profit | $ | 149.8 | | | $ | 169.1 | | | $ | 137.1 | | | $ | 151.9 | | | $ | 607.9 | |
| Adjusted operating income | $ | 114.4 | | | $ | 131.5 | | | $ | 101.9 | | | $ | 116.1 | | | $ | 463.9 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 63.2 | % | | 64.5 | % | | 56.3 | % | | 57.1 | % | | 60.3 | % |
| Adjusted operating income | 48.2 | % | | 50.2 | % | | 41.9 | % | | 43.6 | % | | 46.0 | % |
| (1) See attached Table I for reconciliation to GAAP numbers. | | | | | | |
ADJUSTED SELECTED SEGMENT INFORMATION (1)
QUARTERS AND CALENDAR YEAR TO DATE 2014
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare Americas | March 29, 2014 | | June 28, 2014 | | September 27, 2014 | | December 27, 2014 | | December 27, 2014 |
| Adjusted net sales | $ | 628.6 | | | $ | 698.9 | | | $ | 565.6 | | | $ | 610.5 | | | $ | 2,503.6 | |
| Adjusted gross profit | $ | 198.0 | | | $ | 231.2 | | | $ | 181.4 | | | $ | 196.6 | | | $ | 807.2 | |
| Adjusted operating income | $ | 103.9 | | | $ | 129.4 | | | $ | 86.8 | | | $ | 105.4 | | | $ | 425.5 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 31.5 | % | | 33.1 | % | | 32.1 | % | | 32.2 | % | | 32.2 | % |
| Adjusted operating income | 16.5 | % | | 18.5 | % | | 15.3 | % | | 17.3 | % | | 17.0 | % |
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare International | March 29, 2014 | | June 28, 2014 | | September 27, 2014 | | December 27, 2014 | | December 27, 2014 |
| Adjusted net sales | $ | 81.3 | | | $ | 90.3 | | | $ | 91.6 | | | $ | 85.5 | | | $ | 348.7 | |
| Adjusted gross profit | $ | 29.8 | | | $ | 32.7 | | | $ | 34.1 | | | $ | 32.7 | | | $ | 129.3 | |
| Adjusted operating income | $ | 11.0 | | | $ | 13.8 | | | $ | 13.9 | | | $ | 13.7 | | | $ | 52.4 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 36.7 | % | | 36.2 | % | | 37.2 | % | | 38.2 | % | | 37.1 | % |
| Adjusted operating income | 13.5 | % | | 15.3 | % | | 15.1 | % | | 16.0 | % | | 15.0 | % |
| | Three Months Ended | | Twelve Months Ended |
| Prescription Pharmaceuticals | March 29, 2014 | | June 28, 2014 | | September 27, 2014 | | December 27, 2014 | | December 27, 2014 |
| Adjusted net sales | $ | 208.8 | | | $ | 236.6 | | | $ | 177.7 | | | $ | 259.0 | | | $ | 882.1 | |
| Adjusted gross profit | $ | 120.4 | | | $ | 141.7 | | | $ | 101.6 | | | $ | 155.0 | | | $ | 518.7 | |
| Adjusted operating income | $ | 94.5 | | | $ | 114.6 | | | $ | 74.7 | | | $ | 120.2 | | | $ | 404.0 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 57.7 | % | | 59.9 | % | | 57.1 | % | | 59.8 | % | | 58.8 | % |
| Adjusted operating income | 45.3 | % | | 48.4 | % | | 42.0 | % | | 46.4 | % | | 45.8 | % |
| (1) See attached Table I for reconciliation to GAAP numbers. | | | | | | |
ADJUSTED SELECTED SEGMENT INFORMATION (1)
QUARTERS AND CALENDAR YEAR TO DATE 2013
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare Americas | March 30, 2013 | | June 29, 2013 | | September 28, 2013 | | December 28, 2013 | | December 28, 2013 |
| Adjusted net sales | $ | 629.5 | | | $ | 668.0 | | | $ | 625.0 | | | $ | 628.7 | | | $ | 2,551.2 | |
| Adjusted gross profit | $ | 205.3 | | | $ | 235.4 | | | $ | 204.8 | | | $ | 206.0 | | | $ | 851.5 | |
| Adjusted operating income | $ | 115.0 | | | $ | 135.3 | | | $ | 109.6 | | | $ | 111.7 | | | $ | 471.6 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 32.6 | % | | 35.2 | % | | 32.8 | % | | 32.8 | % | | 33.4 | % |
| Adjusted operating income | 18.3 | % | | 20.2 | % | | 17.5 | % | | 17.8 | % | | 18.5 | % |
| | Three Months Ended | | Twelve Months Ended |
| Consumer Healthcare International | March 30, 2013 | | June 29, 2013 | | September 28, 2013 | | December 28, 2013 | | December 28, 2013 |
| Adjusted net sales | $ | 68.1 | | | $ | 78.3 | | | $ | 76.2 | | | $ | 83.3 | | | $ | 305.9 | |
| Adjusted gross profit | $ | 21.3 | | | $ | 26.7 | | | $ | 26.5 | | | $ | 29.1 | | | $ | 103.6 | |
| Adjusted operating income | $ | 5.7 | | | $ | 8.8 | | | $ | 9.8 | | | $ | 11.4 | | | $ | 35.7 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 31.2 | % | | 34.1 | % | | 34.8 | % | | 34.9 | % | | 33.9 | % |
| Adjusted operating income | 8.4 | % | | 11.3 | % | | 12.9 | % | | 13.6 | % | | 11.7 | % |
| | Three Months Ended | | Twelve Months Ended |
| Prescription Pharmaceuticals | March 30, 2013 | | June 29, 2013 | | September 28, 2013 | | December 28, 2013 | | December 28, 2013 |
| Adjusted net sales | $ | 181.2 | | | $ | 180.0 | | | $ | 189.1 | | | $ | 229.6 | | | $ | 779.9 | |
| Adjusted gross profit | $ | 103.9 | | | $ | 98.9 | | | $ | 118.1 | | | $ | 138.6 | | | $ | 459.5 | |
| Adjusted operating income | $ | 83.2 | | | $ | 77.2 | | | $ | 96.4 | | | $ | 115.3 | | | $ | 372.1 | |
| Selected ratios as a percentage of adjusted net sales | | | | | | |
| Adjusted gross profit | 57.4 | % | | 54.9 | % | | 62.5 | % | | 60.4 | % | | 58.9 | % |
| Adjusted operating income | 45.9 | % | | 42.9 | % | | 51.0 | % | | 50.2 | % | | 47.7 | % |
| (1) See attached Table I for reconciliation to GAAP numbers. | | | | | | |
| Table I |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2016 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | April 2, 2016 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 639.1 | | $ | 199.0 | | $ | 103.6 | |
| As a % of sales | | 31.1 | % | 16.2 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | $ | - | | $ | 12.8 | | $ | 18.1 | |
| Operating results attributable to held-for-sale business | (47.1 | ) | (7.0 | ) | (2.5 | ) |
| Restructuring charges | - | | - | | 1.5 | |
| Contingent consideration fair value adjustment | - | | - | | 0.2 | |
| Adjusted | $ | 592.0 | | $ | 204.8 | | $ | 120.9 | |
| As a % of sales | | 34.6 | % | 20.4 | % |
| | Three Months Ended |
| | July 2, 2016 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 629.9 | | $ | 216.1 | | $ | 112.9 | |
| As a % of sales | | 34.3 | % | 17.9 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | $ | - | | $ | 12.5 | | $ | 17.6 | |
| Impairment charges | - | | - | | 6.2 | |
| Operating results attributable to held-for-sale business | (42.1 | ) | (7.2 | ) | (3.1 | ) |
| Restructuring charges | - | | - | | 0.3 | |
| Contingent consideration fair value adjustment | - | | (0.1 | ) | (0.1 | ) |
| Adjusted | $ | 587.8 | | $ | 221.3 | | $ | 133.8 | |
| As a % of sales | | 37.6 | % | 22.8 | % |
| | Three Months Ended |
| | October 1, 2016 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 611.2 | | $ | 200.0 | | $ | 99.8 | |
| As a % of sales | | 32.7 | % | 16.3 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | $ | - | | $ | 12.5 | | $ | 17.6 | |
| Impairment charges | - | | - | | 3.7 | |
| Operating results attributable to held-for-sale business | (21.0 | ) | (3.4 | ) | (0.1 | ) |
| Restructuring charges | - | | - | | 3.9 | |
| Contingent consideration fair value adjustment | - | | - | | 0.2 | |
| Acquisition and integration-related charges | - | | - | | 0.1 | |
| Adjusted | $ | 590.2 | | $ | 209.1 | | $ | 125.2 | |
| As a % of sales | | 35.4 | % | 21.2 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2016 |
| (in millions) |
| (unaudited) |
| | Nine Months Ended |
| | October 1, 2016 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 1,880.2 | | $ | 615.1 | | $ | 316.3 | |
| As a % of sales | | 32.7 | % | 16.8 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | $ | - | | $ | 37.8 | | $ | 53.3 | |
| Impairment charges | - | | - | | 9.9 | |
| Operating results attributable to held-for-sale business | (110.2 | ) | (17.6 | ) | (5.7 | ) |
| Restructuring charges | - | | - | | 5.7 | |
| Contingent consideration fair value adjustment | - | | (0.1 | ) | 0.3 | |
| Acquisition and integration-related charges | - | | - | | 0.1 | |
| Adjusted | $ | 1,770.0 | | $ | 635.2 | | $ | 379.9 | |
| As a % of sales | | 35.9 | % | 21.5 | % |
| | Three Months Ended |
| | April 2, 2016 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income (loss) |
| Reported | $ | 394.2 | | $ | 177.8 | | $ | (481.0 | ) |
| As a % of sales | | 45.1 | % | (122.0 | )% |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 13.0 | | $ | 42.9 | |
| Impairment charges | | - | | 467.0 | |
| Restructuring charges | | - | | 3.1 | |
| Acquisition and integration-related charges | | - | | 1.3 | |
| Adjusted | | $ | 190.8 | | $ | 33.3 | |
| As a % of sales | | 48.4 | % | 8.4 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2016 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | July 2, 2016 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 466.5 | | $ | 195.1 | | $ | 40.8 | |
| As a % of sales | | 41.8 | % | 8.8 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | $ | - | | $ | 17.1 | | $ | 46.6 | |
| Impairment charges | - | | - | | (30.3 | ) |
| Operating results attributable to held-for-sale business | (0.1 | ) | 0.7 | | 4.8 | |
| Restructuring charges | - | | - | | 4.8 | |
| Contingent consideration fair value adjustment | - | | - | | (0.1 | ) |
| Acquisition and integration-related charges | - | | - | | (0.1 | ) |
| Adjusted | $ | 466.4 | | $ | 212.9 | | $ | 66.5 | |
| As a % of sales | | 45.6 | % | 14.3 | % |
| | Three Months Ended |
| | October 1, 2016 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income (loss) |
| Reported | $ | 377.4 | | $ | 155.6 | | $ | (1,680.5 | ) |
| As a % of sales | | 41.2 | % | (445.3 | )% |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | $ | - | | $ | 16.5 | | $ | 45.8 | |
| Impairment charges | - | | - | | 1,670.0 | |
| Operating results attributable to held-for-sale business | (0.2 | ) | 0.2 | | 3.0 | |
| Restructuring charges | - | | - | | 2.5 | |
| Contingent consideration fair value adjustment | - | | - | | (0.4 | ) |
| Acquisition and integration-related charges | - | | - | | 0.1 | |
| Adjusted | $ | 377.2 | | $ | 172.3 | | $ | 40.5 | |
| As a % of sales | | 45.7 | % | 10.7 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2016 |
| (in millions) |
| (unaudited) |
| | Nine Months Ended |
| | October 1, 2016 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income (loss) |
| Reported | $ | 1,238.1 | | $ | 528.5 | | $ | (2,120.7 | ) |
| As a % of sales | | 42.7 | % | (171.3 | )% |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | $ | - | | $ | 46.6 | | $ | 135.3 | |
| Impairment charges | - | | - | | 2,106.7 | |
| Operating results attributable to held-for-sale business | (0.3 | ) | 0.9 | | 7.8 | |
| Restructuring charges | - | | - | | 10.4 | |
| Contingent consideration fair value adjustment | - | | - | | (0.5 | ) |
| Acquisition and integration-related charges | - | | - | | 1.3 | |
| Adjusted | $ | 1,237.8 | | $ | 576.0 | | $ | 140.3 | |
| As a % of sales | | 46.5 | % | 11.3 | % |
| | Three Months Ended |
| | April 2, 2016 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 241.3 | | $ | 121.0 | | $ | 84.5 | |
| As a % of sales | | 50.1 | % | 35.0 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 25.2 | | $ | 25.5 | |
| Adjusted | | $ | 146.2 | | $ | 110.0 | |
| As a % of sales | | 60.6 | % | 45.6 | % |
| | Three Months Ended |
| | July 2, 2016 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 276.9 | | $ | 131.4 | | $ | 92.6 | |
| As a % of sales | | 47.5 | % | 33.5 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 26.0 | | $ | 25.9 | |
| Adjusted | | $ | 157.4 | | $ | 118.5 | |
| As a % of sales | | 56.8 | % | 42.8 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2016 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | October 1, 2016 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 251.9 | | $ | 120.9 | | $ | 74.4 | |
| As a % of sales | | 48.0 | % | 29.5 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 27.1 | | $ | 27.1 | |
| Contingent consideration fair value adjustment | | - | | 5.0 | |
| Adjusted | | $ | 148.0 | | $ | 106.5 | |
| As a % of sales | | 58.7 | % | 42.3 | % |
| | Nine Months Ended |
| | October 1, 2016 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 770.1 | | $ | 373.3 | | $ | 251.5 | |
| As a % of sales | | 48.5 | % | 32.7 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 78.3 | | $ | 78.5 | |
| Contingent consideration fair value adjustment | | - | | 5.0 | |
| Adjusted | | $ | 451.6 | | $ | 335.0 | |
| As a % of sales | | 58.6 | % | 43.5 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2015 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | March 28, 2015 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 622.8 | | $ | 196.9 | | $ | 104.0 | |
| As a % of reported net sales | | 31.6 | % | 16.7 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 8.8 | | $ | 14.1 | |
| Restructuring charges | | - | | 1.1 | |
| Adjusted | | $ | 205.7 | | $ | 119.2 | |
| As a % of adjusted net sales | | 33.0 | % | 19.1 | % |
| For Comparative Purposes* | | | |
| Reported | $ | 622.8 | | | |
| Operating results attributable to held-for-sale business | $ | (37.5 | ) | | |
| Adjusted | $ | 585.3 | | | |
| *Q1 2015 net sales adjustment is made for comparison purposes only and does not change any other prior year financial information or metrics since the U.S. VMS business was not held-for-sale in 2015. Q1 2015 gross margin and operating margin use reported net sales as the denominator. |
| | Three Months Ended |
| | June 27, 2015 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 679.9 | | $ | 238.3 | | $ | 140.0 | |
| As a % of reported net sales | | 35.1 | % | 20.6 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 9.2 | | $ | 14.5 | |
| Restructuring charges | | - | | (0.4 | ) |
| Adjusted | | $ | 247.5 | | $ | 154.1 | |
| As a % of adjusted net sales | | 36.4 | % | 22.7 | % |
| For Comparative Purposes* | | | |
| Reported | $ | 679.9 | | | |
| Operating results attributable to held-for-sale business | $ | (39.6 | ) | | |
| Adjusted | $ | 640.3 | | | |
| *Q2 2015 net sales adjustment is made for comparison purposes only and does not change any other prior year financial information or metrics since the U.S. VMS business was not held-for-sale in 2015. Q2 2015 gross margin and operating margin use reported net sales as the denominator. |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2015 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | September 26, 2015 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 608.3 | | $ | 211.6 | | $ | 116.2 | |
| As a % of reported net sales | | 34.8 | % | 19.1 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.8 | | $ | 18.0 | |
| Restructuring charges | | - | | 1.9 | |
| Acquisition and integration-related charges | | - | | (0.5 | ) |
| Adjusted | | $ | 224.4 | | $ | 135.6 | |
| As a % of adjusted net sales | | 36.9 | % | 22.3 | % |
| For Comparative Purposes* | | | |
| Reported | $ | 608.3 | | | |
| Operating results attributable to held-for-sale business | $ | (40.9 | ) | | |
| Adjusted | $ | 567.4 | | | |
| *Q3 2015 net sales adjustment is made for comparison purposes only and does not change any other prior year financial information or metrics since the U.S. VMS business was not held-for-sale in 2015. Q3 2015 gross margin and operating margin use reported net sales as the denominator. |
| | Three Months Ended |
| | December 31, 2015 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 643.2 | | $ | 204.7 | | $ | 91.3 | |
| As a % of reported net sales | | 31.8 | % | 14.2 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.1 | | $ | 17.8 | |
| Impairment charges | | - | | 1.5 | |
| Unusual litigation | | - | | 0.3 | |
| Restructuring charges | | - | | 12.8 | |
| Adjusted | | $ | 216.8 | | $ | 123.7 | |
| As a % of adjusted net sales | | 33.7 | % | 19.2 | % |
| For Comparative Purposes* | | | |
| Reported | $ | 643.2 | | | |
| Operating results attributable to held-for-sale business | $ | (44.3 | ) | | |
| Adjusted | $ | 598.9 | | | |
| *Q4 2015 net sales adjustment is made for comparison purposes only and does not change any other prior year financial information or metrics since the U.S. VMS business was not held-for-sale in 2015. Q4 2015 gross margin and operating margin use reported net sales as the denominator. |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2015 |
| (in millions) |
| (unaudited) |
| | Twelve Months Ended |
| | December 31, 2015 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 2,554.2 | | $ | 851.5 | | $ | 451.5 | |
| As a % of reported net sales | | 33.3 | % | 17.7 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 42.9 | | $ | 64.4 | |
| Impairment charges | | - | | 1.5 | |
| Unusual litigation | | - | | 0.3 | |
| Restructuring charges | | - | | 15.4 | |
| Acquisition and integration-related charges | | - | | (0.5 | ) |
| Adjusted | | $ | 894.4 | | $ | 532.6 | |
| As a % of adjusted net sales | | 35.0 | % | 20.9 | % |
| For Comparative Purposes* | | | |
| Reported | $ | 2,554.2 | | | |
| Operating results attributable to held-for-sale business | $ | (162.3 | ) | | |
| Adjusted | $ | 2,391.9 | | | |
| *YTD 2015 net sales adjustment is made for comparison purposes only and does not change any other prior year financial information or metrics since the U.S. VMS business was not held-for-sale in 2015. YTD 2015 gross margin and operating margin use reported net sales as the denominator. |
| | Three Months Ended |
| | March 28, 2015 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 76.6 | | $ | 21.2 | | $ | 2.3 | |
| As a % of reported net sales | | 27.7 | % | 2.9 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 4.9 | | $ | 6.1 | |
| Adjusted | | $ | 26.1 | | $ | 8.4 | |
| As a % of adjusted net sales | | 34.1 | % | 10.9 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2015 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | June 27, 2015 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 483.7 | | $ | 217.0 | | $ | 31.6 | |
| As a % of reported net sales | | 44.9 | % | 6.5 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 27.7 | | $ | 56.0 | |
| Restructuring charges | | - | | 0.3 | |
| Acquisition and integration-related charges | | - | | 0.7 | |
| Adjusted | | $ | 244.7 | | $ | 88.6 | |
| As a % of adjusted net sales | | 50.6 | % | 18.3 | % |
| For Comparative Purposes* | | | |
| Reported | $ | 483.7 | | | |
| Operating results attributable to held-for-sale business | $ | (0.1 | ) | | |
| Adjusted | $ | 483.6 | | | |
| *Q2 2015 net sales adjustment is made for comparison purposes only and does not change any other prior year financial information or metrics since the European sports brand was not held-for-sale in 2015. Q2 2015 gross margin and operating margin use reported net sales as the denominator. |
| | Three Months Ended |
| | September 26, 2015 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 385.8 | | $ | 191.3 | | $ | 8.5 | |
| As a % of reported net sales | | 49.6 | % | 2.2 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 10.1 | | $ | 43.2 | |
| Restructuring charges | | - | | 0.2 | |
| Acquisition and integration-related charges | | - | | 2.8 | |
| Adjusted | | $ | 201.4 | | $ | 54.7 | |
| As a % of adjusted net sales | | 52.2 | % | 14.2 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2015 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | December 31, 2015 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income (loss) |
| Reported | $ | 409.2 | | $ | 195.8 | | $ | (155.7 | ) |
| As a % of reported net sales | | 47.8 | % | (38.0 | )% |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 11.4 | | $ | 23.0 | |
| Impairment charges | | - | | 185.1 | |
| Restructuring charges | | - | | 0.2 | |
| Acquisition and integration-related charges | | - | | (0.2 | ) |
| Adjusted | | $ | 207.2 | | $ | 52.4 | |
| As a % of adjusted net sales | | 50.6 | % | 12.8 | % |
| For Comparative Purposes* | | | |
| Reported | $ | 409.2 | | | |
| Operating results attributable to held-for-sale business | $ | (0.2 | ) | | |
| Adjusted | $ | 409.0 | | | |
| *Q4 2015 net sales adjustment is made for comparison purposes only and does not change any other prior year financial information or metrics since the European sports brand was not held-for-sale in 2015. Q4 2015 gross margin and operating margin use reported net sales as the denominator. |
| | Twelve Months Ended |
| | December 31, 2015 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income (loss) |
| Reported | $ | 1,355.3 | | $ | 625.3 | | $ | (113.3 | ) |
| As a % of reported net sales | | 46.1 | % | (8.4 | )% |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 54.1 | | $ | 128.3 | |
| Impairment charges | | - | | 185.1 | |
| Restructuring charges | | - | | 0.7 | |
| Acquisition and integration-related charges | | - | | 3.3 | |
| Adjusted | | $ | 679.4 | | $ | 204.1 | |
| As a % of adjusted net sales | | 50.1 | % | 15.1 | % |
| For Comparative Purposes* | | | |
| Reported | $ | 1,355.3 | | | |
| Operating results attributable to held-for-sale business | $ | (0.3 | ) | | |
| Adjusted | $ | 1,355.0 | | | |
| *YTD 2015 net sales adjustment is made for comparison purposes only and does not change any other prior year financial information or metrics since the European sports brand was not held-for-sale in 2015. YTD 2015 gross margin and operating margin use reported net sales as the denominator. |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2015 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | March 28, 2015 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 237.0 | | $ | 135.5 | | $ | 98.1 | |
| As a % of reported net sales | | 57.2 | % | 41.4 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 14.3 | | $ | 14.3 | |
| Unusual litigation | | - | | 2.0 | |
| Adjusted | | $ | 149.8 | | $ | 114.4 | |
| As a % of adjusted net sales | | 63.2 | % | 48.2 | % |
| | Three Months Ended |
| | June 27, 2015 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 262.2 | | $ | 154.3 | | $ | 97.8 | |
| As a % of reported net sales | | 58.9 | % | 37.3 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 14.3 | | $ | 14.3 | |
| Contingent consideration fair value adjustment | | - | | 0.9 | |
| R&D payment made in connection with a collaborative agreement | | - | | 18.0 | |
| Acquisition and integration-related charges | | 0.5 | | 0.5 | |
| Adjusted | | $ | 169.1 | | $ | 131.5 | |
| As a % of adjusted net sales | | 64.5 | % | 50.2 | % |
| | Three Months Ended |
| | September 26, 2015 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 243.6 | | $ | 122.8 | | $ | 87.7 | |
| As a % of reported net sales | | 50.4 | % | 36.0 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 14.3 | | $ | 14.2 | |
| Adjusted | | $ | 137.1 | | $ | 101.9 | |
| As a % of adjusted net sales | | 56.3 | % | 41.9 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2015 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | December 31, 2015 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 266.0 | | $ | 137.6 | | $ | 101.2 | |
| As a % of reported net sales | | 51.7 | % | 38.0 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 14.3 | | $ | 14.3 | |
| Unusual litigation | | - | | (2.0 | ) |
| Restructuring charges | | - | | 2.6 | |
| Adjusted | | $ | 151.9 | | $ | 116.1 | |
| As a % of adjusted net sales | | 57.1 | % | 43.6 | % |
| | Twelve Months Ended |
| | December 31, 2015 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 1,008.8 | | $ | 550.2 | | $ | 384.8 | |
| As a % of reported net sales | | 54.5 | % | 38.1 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 57.2 | | $ | 57.1 | |
| Contingent consideration fair value adjustment | | - | | 0.9 | |
| Restructuring charges | | - | | 2.6 | |
| R&D payment made in connection with a collaborative agreement | | - | | 18.0 | |
| Acquisition and integration-related charges | | 0.5 | | 0.5 | |
| Adjusted | | $ | 607.9 | | $ | 463.9 | |
| As a % of adjusted net sales | | 60.3 | % | 46.0 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2014 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | March 29, 2014 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 628.6 | | $ | 191.9 | | $ | 89.0 | |
| As a % of reported net sales | | 30.5 | % | 14.2 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 6.1 | | $ | 11.3 | |
| Restructuring charges | | - | | 1.6 | |
| Unusual litigation | | - | | 2.0 | |
| Adjusted | | $ | 198.0 | | $ | 103.9 | |
| As a % of adjusted net sales | | 31.5 | % | 16.5 | % |
| | Three Months Ended |
| | June 28, 2014 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 698.9 | | $ | 225.2 | | $ | 115.8 | |
| As a % of reported net sales | | 32.2 | % | 16.6 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 6.0 | | $ | 11.4 | |
| Restructuring charges | | - | | 1.0 | |
| Unusual litigation | | - | | 0.8 | |
| Acquisition and integration-related charges | | - | | 0.4 | |
| Adjusted | | $ | 231.2 | | $ | 129.4 | |
| As a % of adjusted net sales | | 33.1 | % | 18.5 | % |
| | Three Months Ended |
| | September 27, 2014 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 565.6 | | $ | 171.9 | | $ | 70.2 | |
| As a % of reported net sales | | 30.4 | % | 12.4 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 8.8 | | $ | 14.1 | |
| Restructuring charges | | - | | 2.5 | |
| Acquisition and integration-related charges | | 0.7 | | - | |
| Adjusted | | $ | 181.4 | | $ | 86.8 | |
| As a % of adjusted net sales | | 32.1 | % | 15.3 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2014 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | December 27, 2014 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 610.5 | | $ | 187.7 | | $ | 79.2 | |
| As a % of reported net sales | | 30.7 | % | 13.0 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 8.9 | | $ | 14.1 | |
| R&D payment made in connection with a collaborative agreement | | - | | 10.0 | |
| Restructuring charges | | - | | 2.1 | |
| Adjusted | | $ | 196.6 | | $ | 105.4 | |
| As a % of adjusted net sales | | 32.2 | % | 17.3 | % |
| | Twelve Months Ended |
| | December 27, 2014 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 2,503.6 | | $ | 776.7 | | $ | 354.2 | |
| As a % of reported net sales | | 31.0 | % | 14.1 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 29.8 | | $ | 50.9 | |
| R&D payment made in connection with a collaborative agreement | | - | | 10.0 | |
| Restructuring charges | | - | | 7.2 | |
| Unusual litigation | | - | | 2.8 | |
| Acquisition and integration-related charges | | 0.7 | | 0.4 | |
| Adjusted | | $ | 807.2 | | $ | 425.5 | |
| As a % of adjusted net sales | | 32.2 | % | 17.0 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2014 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | March 29, 2014 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 81.3 | | $ | 24.4 | | $ | 4.6 | |
| As a % of reported net sales | | 30.0 | % | 5.7 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 5.4 | | $ | 6.4 | |
| Adjusted | | $ | 29.8 | | $ | 11.0 | |
| As a % of adjusted net sales | | 36.7 | % | 13.5 | % |
| | Three Months Ended |
| | June 28, 2014 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 90.3 | | $ | 27.3 | | $ | 5.9 | |
| As a % of reported net sales | | 30.2 | % | 6.5 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 5.6 | | $ | 7.0 | |
| Acquisition and integration-related charges | | (0.2 | ) | 0.9 | |
| Adjusted | | $ | 32.7 | | $ | 13.8 | |
| As a % of adjusted net sales | | 36.2 | % | 15.3 | % |
| | Three Months Ended |
| | September 27, 2014 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 91.6 | | $ | 28.5 | | $ | 7.1 | |
| As a % of reported net sales | | 31.1 | % | 7.7 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 5.6 | | $ | 6.8 | |
| Adjusted | | $ | 34.1 | | $ | 13.9 | |
| As a % of adjusted net sales | | 37.2 | % | 15.1 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2014 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | December 27, 2014 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 85.5 | | $ | 27.4 | | $ | 7.0 | |
| As a % of reported net sales | | 32.1 | % | 8.2 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 5.3 | | $ | 6.7 | |
| Adjusted | | $ | 32.7 | | $ | 13.7 | |
| As a % of adjusted net sales | | 38.2 | % | 16.0 | % |
| | Twelve Months Ended |
| | December 27, 2014 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 348.7 | | $ | 107.6 | | $ | 24.6 | |
| As a % of reported net sales | | 30.8 | % | 7.1 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 21.9 | | $ | 26.9 | |
| Acquisition and integration-related charges | | (0.2 | ) | 0.9 | |
| Adjusted | | $ | 129.3 | | $ | 52.4 | |
| As a % of adjusted net sales | | 37.1 | % | 15.0 | % |
| | Three Months Ended |
| | March 29, 2014 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 208.8 | | $ | 107.6 | | $ | 75.9 | |
| As a % of reported net sales | | 51.5 | % | 36.4 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.8 | | $ | 12.8 | |
| Restructuring charges | | - | | 0.1 | |
| Acquisition and integration-related charges | | - | | 5.7 | |
| Adjusted | | $ | 120.4 | | $ | 94.5 | |
| As a % of adjusted net sales | | 57.7 | % | 45.3 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2014 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | June 28, 2014 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 236.6 | | $ | 128.4 | | $ | 86.0 | |
| As a % of reported net sales | | 54.3 | % | 36.4 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 13.3 | | $ | 13.3 | |
| Acquisition and integration-related charges | | $ | - | | $ | 0.3 | |
| Unusual litigation | | $ | - | | $ | 15.0 | |
| Adjusted | | $ | 141.7 | | $ | 114.6 | |
| As a % of adjusted net sales | | 59.9 | % | 48.4 | % |
| | Three Months Ended |
| | September 27, 2014 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 177.7 | | $ | 89.1 | | $ | 62.2 | |
| As a % of reported net sales | | 50.1 | % | 35.0 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 12.4 | | $ | 12.4 | |
| Restructuring charges | | - | | 0.1 | |
| Acquisition and integration-related charges | | 0.1 | | - | |
| Adjusted | | $ | 101.6 | | $ | 74.7 | |
| As a % of adjusted net sales | | 57.1 | % | 42.0 | % |
| | Three Months Ended |
| | December 27, 2014 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 259.0 | | $ | 141.4 | | $ | 106.6 | |
| As a % of reported net sales | | 54.6 | % | 41.2 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 13.6 | | $ | 13.6 | |
| Adjusted | | $ | 155.0 | | $ | 120.2 | |
| As a % of adjusted net sales | | 59.8 | % | 46.4 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2014 |
| (in millions) |
| (unaudited) |
| | Twelve Months Ended |
| | December 27, 2014 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 882.1 | | $ | 466.5 | | $ | 330.7 | |
| As a % of reported net sales | | 52.9 | % | 37.5 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 52.1 | | $ | 52.1 | |
| Restructuring charges | | - | | 0.2 | |
| Acquisition and integration-related charges | | 0.1 | | 6.0 | |
| Unusual litigation | | - | | 15.0 | |
| Adjusted | | $ | 518.7 | | $ | 404.0 | |
| As a % of adjusted net sales | | 58.8 | % | 45.8 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2013 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | March 30, 2013 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 629.5 | | $ | 199.2 | | $ | 104.0 | |
| As a % of reported net sales | | 31.6 | % | 16.5 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 6.1 | | $ | 11.0 | |
| Adjusted | | $ | 205.3 | | $ | 115.0 | |
| As a % of adjusted net sales | | 32.6 | % | 18.3 | % |
| | Three Months Ended |
| | June 29, 2013 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 668.0 | | $ | 229.5 | | $ | 118.4 | |
| As a % of reported net sales | | 34.4 | % | 17.7 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 5.9 | | $ | 11.3 | |
| Restructuring charges | | - | | 2.9 | |
| Acquisition and integration-related charges | | - | | 2.7 | |
| Adjusted | | $ | 235.4 | | $ | 135.3 | |
| As a % of adjusted net sales | | 35.2 | % | 20.2 | % |
| | Three Months Ended |
| | September 28, 2013 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 625.0 | | $ | 198.7 | | $ | 97.4 | |
| As a % of reported net sales | | 31.8 | % | 15.6 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 6.1 | | $ | 11.4 | |
| Restructuring charges | | - | | 0.8 | |
| Adjusted | | $ | 204.8 | | $ | 109.6 | |
| As a % of adjusted net sales | | 32.8 | % | 17.5 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2013 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | December 28, 2013 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 628.7 | | $ | 199.9 | | $ | 102.4 | |
| As a % of reported net sales | | 31.8 | % | 16.3 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 6.1 | | $ | 11.4 | |
| Restructuring charges | | - | | 0.4 | |
| Unusual litigation | | - | | (2.5 | ) |
| Adjusted | | $ | 206.0 | | $ | 111.7 | |
| As a % of adjusted net sales | | 32.8 | % | 17.8 | % |
| | Twelve Months Ended |
| | December 28, 2013 |
| Consumer Healthcare Americas | Net sales | Gross profit | Operating income |
| Reported | $ | 2,551.2 | | $ | 827.3 | | $ | 422.2 | |
| As a % of reported net sales | | 32.4 | % | 16.5 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 24.2 | | $ | 45.1 | |
| Restructuring charges | | - | | 4.1 | |
| Unusual litigation | | - | | (2.5 | ) |
| Acquisition and integration-related charges | | - | | 2.7 | |
| Adjusted | | $ | 851.5 | | $ | 471.6 | |
| As a % of adjusted net sales | | 33.4 | % | 18.5 | % |
| | Three Months Ended |
| | March 30, 2013 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 68.1 | | $ | 17.4 | | $ | 0.8 | |
| As a % of reported net sales | | 25.6 | % | 1.2 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 3.9 | | $ | 4.9 | |
| Adjusted | | $ | 21.3 | | $ | 5.7 | |
| As a % of adjusted net sales | | 31.2 | % | 8.4 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2013 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | June 29, 2013 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 78.3 | | $ | 19.8 | | $ | 0.9 | |
| As a % of reported net sales | | 25.3 | % | 1.2 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 6.9 | | $ | 7.9 | |
| Adjusted | | $ | 26.7 | | $ | 8.8 | |
| As a % of adjusted net sales | | 34.1 | % | 11.3 | % |
| | Three Months Ended |
| | September 28, 2013 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 76.2 | | $ | 21.6 | | $ | 3.9 | |
| As a % of reported net sales | | 28.3 | % | 5.1 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 4.9 | | $ | 5.9 | |
| Adjusted | | $ | 26.5 | | $ | 9.8 | |
| As a % of adjusted net sales | | 34.8 | % | 12.9 | % |
| | Three Months Ended |
| | December 28, 2013 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 83.3 | | $ | 24.0 | | $ | 2.6 | |
| As a % of reported net sales | | 28.9 | % | 3.1 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 5.1 | | $ | 6.1 | |
| Impairment charges | | - | | 2.0 | |
| Acquisition and integration-related charges | | - | | 0.7 | |
| Adjusted | | $ | 29.1 | | $ | 11.4 | |
| As a % of adjusted net sales | | 34.9 | % | 13.6 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2013 |
| (in millions) |
| (unaudited) |
| | Twelve Months Ended |
| | December 28, 2013 |
| Consumer Healthcare International | Net sales | Gross profit | Operating income |
| Reported | $ | 305.9 | | $ | 82.8 | | $ | 8.2 | |
| As a % of reported net sales | | 27.1 | % | 2.7 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 20.8 | | $ | 24.8 | |
| Impairment charges | | - | | 2.0 | |
| Acquisition and integration-related charges | | - | | 0.7 | |
| Adjusted | | $ | 103.6 | | $ | 35.7 | |
| As a % of adjusted net sales | | 33.9 | % | 11.7 | % |
| | Three Months Ended |
| | March 30, 2013 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 181.2 | | $ | 93.8 | | $ | 73.1 | |
| As a % of reported net sales | | 51.8 | % | 40.4 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 10.1 | | $ | 10.1 | |
| Adjusted | | $ | 103.9 | | $ | 83.2 | |
| As a % of adjusted net sales | | 57.4 | % | 45.9 | % |
| | Three Months Ended |
| | June 29, 2013 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 180.0 | | $ | 88.2 | | $ | 57.6 | |
| As a % of reported net sales | | 49.0 | % | 32.0 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 10.7 | | $ | 10.6 | |
| Impairment charges | | - | | 9.0 | |
| Adjusted | | $ | 98.9 | | $ | 77.2 | |
| As a % of adjusted net sales | | 54.9 | % | 42.9 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2013 |
| (in millions) |
| (unaudited) |
| | Three Months Ended |
| | September 28, 2013 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 189.1 | | $ | 106.2 | | $ | 80.6 | |
| As a % of reported net sales | | 56.1 | % | 42.7 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 11.9 | | $ | 11.9 | |
| Restructuring charges | | - | | 1.4 | |
| Unusual litigation | | - | | 2.5 | |
| Adjusted | | $ | 118.1 | | $ | 96.4 | |
| As a % of adjusted net sales | | 62.5 | % | 51.0 | % |
| | Three Months Ended |
| | December 28, 2013 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 229.6 | | $ | 121.5 | | $ | 98.9 | |
| As a % of reported net sales | | 52.9 | % | 43.1 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 17.1 | | $ | 17.2 | |
| Impairment charges | | - | | 4.0 | |
| Restructuring charges | | - | | 0.2 | |
| Acquisition and integration-related charges | | - | | (4.9 | ) |
| Unusual litigation | | - | | (0.1 | ) |
| Adjusted | | $ | 138.6 | | $ | 115.3 | |
| As a % of adjusted net sales | | 60.4 | % | 50.2 | % |
| Table I (continued) |
| PERRIGO COMPANY PLC |
| RECONCILIATION OF NON-GAAP MEASURES |
| QUARTERS AND CALENDAR YEAR TO DATE 2013 |
| (in millions) |
| (unaudited) |
| | Twelve Months Ended |
| | December 28, 2013 |
| Prescription Pharmaceuticals | Net sales | Gross profit | Operating income |
| Reported | $ | 779.9 | | $ | 409.7 | | $ | 310.2 | |
| As a % of reported net sales | | 52.5 | % | 39.8 | % |
| Adjustments: | | | |
| Amortization expense primarily related to acquired intangible assets | | $ | 49.8 | | $ | 49.8 | |
| Impairment charges | | - | | 13.0 | |
| Restructuring charges | | - | | 1.6 | |
| Acquisition and integration-related charges | | - | | (4.9 | ) |
| Unusual litigation | | - | | 2.4 | |
| Adjusted | | $ | 459.5 | | $ | 372.1 | |
| As a % of adjusted net sales | | 58.9 | % | 47.7 | % |