PRGO · Perrigo Company plc

Perrigo Company plc announced a significant change to its financial reporting structure, transitioning from a geographic segment model to a product category-based approach effective the first quarter of 2026. This realignment reflects how the company's chief operating decision maker evaluates performance and allocates resources, with new segments including Self Care, Specialty Care, Infant Formula, and All Other. The company simultaneously changed its primary segment profitability measure from operating income to adjusted operating income. To facilitate comparability, Perrigo provided unaudited recast financial information for eight historical quarters spanning 2024 and 2025, though this does not constitute a restatement of previously issued financial statements. The recast data shows consolidated net sales of $4,253.1 million for the twelve months ended December 31, 2025, with adjusted operating income of $622.3 million. However, reported GAAP operating income showed a substantial loss of $(1,122.2) million for the same period, primarily driven by a $1.3 billion goodwill impairment charge recorded in the fourth quarter of 2025. The company emphasized that these segment changes have no impact on its historical consolidated financial position, results of operations, or cash flows. Perrigo also highlighted its use of non-GAAP financial measures, which exclude items such as amortization expense, unusual litigation, restructuring charges, and impairment charges, to provide investors with supplemental information about underlying business trends and facilitate period-to-period comparisons.