PERRIGO Co plcPRGO

PERRIGO Co plc Earnings Per Share Disclosure

10-KFiled Feb 26, 20262 min read
EARNINGS PER SHARE AND SHAREHOLDERS' EQUITY
Earnings per Share

A reconciliation of the numerators and denominators used in our basic and diluted earnings per share ("EPS") calculation is as follows (in millions): 
 Year Ended
 December 31, 2025December 31, 2024December 31, 2023
Numerator:
Income (loss) from continuing operations$(1,402.3)$(160.7)$(4.4)
Income (loss) from discontinued operations, net of tax(23.1)(11.1)(8.3)
Net income (loss)$(1,425.4)$(171.8)$(12.7)
Denominator:
Weighted average shares outstanding for basic EPS138.5 137.4 135.3 
Dilutive effect of share-based awards(1)
— — — 
Weighted average shares outstanding for diluted EPS138.5 137.4 135.3 
(1) In the period of a net loss from continuing operations, diluted shares equal basic shares.

Shareholders' Equity

Our common stock consists of ordinary shares of Perrigo Company plc, a public limited company incorporated under the laws of Ireland.
    
Our common equity has traded on the New York Stock Exchange under the symbol PRGO since June 6, 2013. Prior to that, our common equity traded on the Nasdaq Global Select Market under the same symbol. Our common equity was also traded on the Tel Aviv Stock Exchange (“TASE”) under the same symbol between March 16, 2005 and February 23, 2022, when we voluntarily delisted from trading in connection with the Rx business divestiture.
Dividends

We paid dividends as follows:
 Year Ended
 December 31, 2025December 31, 2024December 31, 2023
Dividends paid (in millions)$159.3 $152.5 $149.7 
Dividends paid (per share)$1.16 $1.10 $1.09 

The declaration and payment of dividends and the amount paid, if any, are subject to the discretion of the Board of Directors and depend on our earnings, financial condition, availability of distributable reserves, capital and surplus requirements and other factors the Board of Directors may consider relevant.

Share Repurchases

In October 2018, our Board of Directors authorized up to $1.0 billion of share repurchases with no expiration date, subject to the Board of Directors’ approval of the pricing parameters and amount that may be repurchased under each specific share repurchase program (the "2018 Authorization"). We did not purchase any shares during the years ended December 31, 2025 and December 31, 2024. As of December 31, 2025 the approximate value of shares available for purchase under the 2018 Authorization was $835.8 million.

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsStock CompensationNew Standards