Viatris : VTRS Q1 2025 Non-GAAP Reconciliations - FINAL

Published: 2025-05-08 07:07:11 ET VTRS

Published on 05/08/2025 at 07:07

‌GAAP / Non-GAAP

Reconciliations

This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. 1

May 8, 2025

‌Non-GAAP Financial Measures and Other Information

Key References

New product sales, new product launches or new product revenues: Refers to revenue from new products launched in 2025 and the carryover impact of new products, including business development, launched within the last 12

months.

Operational change: Refers to constant currency percentage changes and is derived by translating amounts for the current period at prior year comparative period exchange rates, and in doing so shows the percentage change from 2025 constant currency net sales, total revenues, adjusted EBITDA, and adjusted EPS to the corresponding amount in the prior year.

Divestiture-adjusted operational change: Refers to operational changes, further adjusted for the impact of the proportionate results from the divestitures that closed in 2024, from the 2024 period by excluding such net sales or revenues from those divested businesses from comparable prior periods. Also, for adjusted EBITDA and adjusted EPS, refers to operational changes, adjusted as outlined in the previous sentence and further adjusted for associated net other income.

Closed divestitures or divestitures closed in 2024: Refers to the divestiture of the Company's rights to two women's healthcare products in the U.K. that closed in August 2024, the divestitures of the commercialization rights in the majority of the Upjohn Distributor markets that closed in 2024, the divestiture of the women's healthcare business that closed in March 2024, the divestiture of the API business in India that closed in June 2024, and the divestiture of the OTC business that closed in July 2024.

Indore Impact: Refers to the estimated negative financial impact on 2025 total revenues and (loss) earnings from operations versus the comparable 2024 periods as a result of the FDA issued warning letter and import alert related to our oral finished dose manufacturing facility in Indore, India.

SG&A and R&D TSA Reimbursement and DSA Reimbursement: Expenses related to TSA services provided for divested businesses are recorded in their respective functional line item; however, reimbursement of those expenses plus any mark-up is included in other expense (income), net. For comparability purposes, amounts related to the cost reimbursement were reclassified to adjusted SG&A and adjusted R&D during the first quarter of 2024, primarily related to the contribution of the biosimilars business to Biocon Biologics Limited ("Biocon Biologics") in November 2022. This reclassification had no impact on adjusted net earnings, adjusted EBITDA or adjusted EPS. Any TSA reimbursement and DSA reimbursement amounts related to the closed divestitures are not direct offsets to operational expense and have not been reclassified.

Non-GAAP Financial Measures

This presentation includes the presentation and discussion of certain financial information that differs from what is reported under accounting principles generally accepted in the United States ("U.S. GAAP"). These non-GAAP financial measures, including, but not limited to, adjusted EBITDA, free cash flow, free cash flow excluding transaction costs and taxes primarily related to the divestitures, adjusted EPS, adjusted gross margin, adjusted gross profit, 2024 adjusted total revenues excluding divestitures, 2024 adjusted net sales excluding divestitures, adjusted SG&A and as a percentage of total revenues, adjusted R&D and as a percentage of total revenues, adjusted net earnings, adjusted effective tax rate, adjusted earnings from operations, adjusted interest expense, adjusted other income, net, constant currency total revenues, constant currency net sales, divestiture-adjusted change, divestiture-adjusted operational change, divestiture-adjusted operational change ex Indore, notional debt, gross leverage ratio and long-term gross leverage ratio target, are presented in order to supplement investors' and other readers' understanding and assessment of the financial performance of Viatris Inc. ("Viatris" or the "Company"). Free cash flow refers to U.S. GAAP net cash provided by operating activities, less capital expenditures. Adjusted EBITDA margins refers to adjusted EBITDA divided by total revenues. Adjusted EPS refers to adjusted net earnings divided by the weighted average number of diluted shares of common stock outstanding. Viatris has provided reconciliations of such non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures. Investors and other readers are encouraged to review the related U.S. GAAP financial measures and the reconciliations of the non-GAAP measures to their most directly comparable U.S. GAAP measures set forth in this presentation or on our website at https://investor.viatris.com/financial-information/non-gaap-reconciliations, and investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with U.S. GAAP.

2025 Guidance

The Company is not providing forward-looking guidance for U.S. GAAP net earnings (loss) or U.S. GAAP diluted earnings (loss) per share (EPS) or a quantitative reconciliation of its 2025 adjusted EBITDA or adjusted EPS guidance to the most directly comparable U.S. GAAP measures, U.S. GAAP net earnings (loss) or U.S. GAAP diluted EPS, respectively, because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items, including integration, acquisition and divestiture-related expenses, restructuring expenses, asset impairments, litigation settlements, and other contingencies, such as changes to contingent consideration, acquired IPR&D and certain other gains or losses, including for the fair value accounting for non-marketable equity investments, as well as related income tax accounting, because certain of these items have not occurred, are out of the Company's control and/or cannot be reasonably predicted without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP reported results for the guidance period.

Note: Certain amounts in this presentation may not add up due to rounding. All percentages have been calculated using unrounded amounts.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except Adjusted EPS)

Full Year 2025 Financial Guidance Items as of May 8, 2025 (1)

GAAP

Non-GAAP

Total Revenues

$13,500 - $14,000

N/A

Adjusted EBITDA

N/A

$3,890 - $4,190

Net Cash provided by Operating Activities

$2,200 - $2,500

N/A

Free Cash Flow

N/A

$1,800 - $2,200

Adjusted EPS

N/A

$2.16 - $2.30

For key references and non-GAAP measures, see slide 2

(1) 2025 financial guidance and key metrics as provided as of May 8, 2025 exclude the impact of divestiture-related taxes and transaction costs. Also exclude any acquired IPR&D for unsigned deals to be incurred in any future period as it cannot be reasonably forecasted. 2025 financial guidance and key metrics do not currently include any potential adverse impacts from future tariffs and trade restrictions, which we are unable to predict at this time and could be material.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Reconciliation of Estimated 2025 U.S. GAAP Net Cash Provided by Operating Activities to Free Cash Flow as of May 8, 2025(1)

Estimated U.S. GAAP Net Cash provided by Operating Activities $2,200 - $2,500

Less: Capital Expenditures ($300) - ($400)

Free Cash Flow $1,800 - $2,200

For key references and non-GAAP measures, see slide 2

(1) Excludes the impact of any divestiture-related taxes and transaction costs.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except Adjusted EPS)

Full Year 2025 Financial Guidance Items as of February 27, 2025 (1)

GAAP

Non-GAAP

Total Revenues

$13,500 - $14,000

N/A

Adjusted EBITDA

N/A

$3,900 - $4,200

Net Cash provided by Operating Activities

$2,200 - $2,500

N/A

Free Cash Flow

N/A

$1,800 - $2,200

Adjusted EPS

N/A

$2.12 - $2.26

For key references and non-GAAP measures, see slide 2

(1) 2025 financial guidance and key metrics as provided as of February 27, 2025, excluded the impact of any divestiture-related taxes and transaction costs. Also excluded any acquired IPR&D for unsigned deals to be incurred in any future period as it could not be reasonably forecasted.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Reconciliation of Estimated 2025 U.S. GAAP Net Cash Provided by Operating Activities to Free Cash Flow as of February 27, 2025(1)

Estimated U.S. GAAP Net Cash provided by Operating Activities $2,200 - $2,500

Less: Capital Expenditures ($300) - ($400)

Free Cash Flow $1,800 - $2,200

For key references and non-GAAP measures, see slide 2

(1) Excluded the impact of any divestiture-related taxes and transaction costs.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except per share amounts)

Net (Loss) Earnings to Adjusted Net Earnings and U.S. GAAP Diluted (Loss) Earnings Per Share to Adjusted EPS

Three Months Ended

March 31,

2025 2024

U.S. GAAP net (loss) earnings and U.S. GAAP diluted (loss) earnings per share $

(3,042.0) $

(2.55) $

113.9 $

0.09

Purchase accounting amortization (primarily included in cost of sales)..................................... 583.5 611.7

Impairment of goodwill (a)....................................................................................................... 2,936.8 -

Litigation settlements and other contingencies, net................................................................. (73.5) 76.8

Interest expense (primarily amortization of premiums and discounts on long term debt)........ (9.2) (11.2) Loss (gain) on divestitures of businesses (included in other expense (income), net) (b)............ 36.9 (70.4) Acquisition and divestiture-related costs (primarily included in SG&A) (c) ................................ 40.7 87.5

Restructuring-related costs (d)................................................................................................. 92.9 19.6

Share-based compensation expense....................................................................................... 55.2 46.7

Other special items included in:

Cost of sales (e).................................................................................................................... 41.6 28.2

Research and development expense................................................................................... 0.7 2.4

Selling, general and administrative expense......................................................................... 17.6 16.1

Other expense (income), net (f)............................................................................................ 101.4 (44.5)

Tax effect of the above items and other income tax related items (g)...................................... (182.3) (64.1)

Adjusted net earnings and adjusted EPS..................................................................................

$ 600.3 $

0.50 $ 812.7 $

0.67

Weighted average diluted shares outstanding......................................................................... 1,203.0 1,209.5

For the three months ended March 31, 2025, includes a goodwill impairment charge of $2.9 billion as a result of the interim goodwill impairment test performed as of March 31, 2025.

For the three months ended March 31, 2025, consists of pre-tax charges related to the divestitures primarily due to an increase in estimated transaction related costs, including the assumption of additional contractual obligations, as well as the impact of working capital and other transaction-related adjustments.

Acquisition and divestiture-related costs consist primarily of transaction costs including legal and consulting fees and integration activities.

For the three months ended March 31, 2025, charges include approximately $19.8 million in cost of sales, approximately $0.8 million in R&D, and approximately $72.3 million in SG&A.

For the three months ended March 31, 2025, charges include incremental manufacturing variances at plants slated for sale or closure or undergoing remediation activities of approximately $31.7 million.

For the three months ended March 31, 2025, includes a loss of approximately $115.8 million as a result of remeasuring the compulsory convertible preferred shares (CCPS) in Biocon Biologics to fair value.

Adjusted for changes for uncertain tax positions.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Three Months Ended

March 31,

2025 2024

Restructuring, acquisition and divestiture related and other special items (c)............. 284.9 106.3

Adjusted EBITDA..................................................................................................................... $ 923.5 $ 1,193.4

Net (Loss) Earnings to EBITDA and Adjusted EBITDA

U.S. GAAP net (loss) earnings.................................................................................................

$ (3,042.0) $

113.9

Add / (deduct) adjustments:

Income tax (benefit) provision...........................................................................................

(55.0)

90.7

Interest expense (a).............................................................................................................

115.5

138.4

Depreciation and amortization (b).................................................................................... 664.7 691.0

EBITDA.....................................................................................................................................

$ (2,316.8) $

1,034.0

Add / (deduct) adjustments:

Share-based compensation expense

55.2

46.7

Litigation settlements and other contingencies, net.......................................................

(73.5)

76.8

Loss (gain) on divestitures of businesses.........................................................................

36.9

(70.4)

Impairment of goodwill......................................................................................................

2,936.8

Includes amortization of premiums and discounts on long-term debt.

Includes purchase accounting related amortization.

See items detailed in the Reconciliation of U.S. GAAP Net (Loss) Earnings to Adjusted Net Earnings.

‌Goodwill Impairment

The Company reviews goodwill for impairment annually on April 1st or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. Since the end of February 2025, the Company has experienced a sharp and sustained decline in its share price and significantly increased uncertainty and volatility in the geopolitical and economic environments in which the Company operates. As a result of these factors, the Company determined that a triggering event had occurred for each of its reporting units and performed an interim goodwill impairment test as of March 31, 2025. When compared to the prior year annual goodwill impairment test completed on April 1, 2024, the recent significantly increased uncertainty and volatility in the geopolitical and economic environments in which the Company operates has increased the Company's business risks, including, but not limited to, the potential for continued or additional drug pricing reduction pressures, general uncertainty related to timing of responses and approvals from the FDA resulting from evolving regulatory priorities and associated changes to the operations of the agency, and the potential for adverse impacts from future tariffs and trade restrictions. The negative impact of any or all of these factors could be material. The recent significant increase in business risks and uncertainty have led to an increase in discount rate assumptions impacting all reporting units as compared to the April 1, 2024, annual goodwill impairment test. For the three months ended March 31, 2025, the Company recorded a non-cash goodwill impairment charge of $2.9 billion as a result of the interim goodwill impairment test performed as of March 31, 2025.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s)

Three Months Ended March 31,

2025

2024

2025 Constant Constant 2025 Currency Currency Currency %

% Change Impact (1) Revenues Change (2)

Divestiture-Closed 2024 Adjusted Adjusted

Divestitures Ex Divestitures Operational

(3) (4) Change (5)

Net sales

Summary of Total Revenues by Segment - Q1 2025

Developed Markets $

1,891.7

$ 2,165.4

(13)%

$ 33.2

$ 1,924.9

(11)%

$ 179.7

$ 1,985.7

(3)%

Greater China..........................

555.5

543.9

2 %

12.0

567.5

4 %

0.5

543.4

4 %

JANZ........................................

276.1

317.8

(13)%

12.3

288.4

(9)%

9.7

308.1

(6)%

Emerging Markets ................... 519.9 626.4

(17)%

27.6 547.5

(13)%

47.5 578.9

(5)%

Total net sales................. $ 3,243.2 $ 3,653.5

(11)%

$ 85.1 $ 3,328.3

(9)%

$ 237.4 $ 3,416.1

(3)%

Other revenues (6).................. 11.1 9.9

0.1 11.2

1.8 8.1

Consolidated total revenues (7).. $ 3,254.3 $ 3,663.4

(11)%

$ 85.2 $ 3,339.5

(9)%

$ 239.2 $ 3,424.2

(2)%

Currency impact is shown as unfavorable (favorable).

The constant currency percentage change is derived by translating net sales or revenues for the current period at prior year comparative period exchange rates, and in doing so shows the percentage change from 2025 constant currency net sales or revenues to the corresponding amount in the prior year.

Represents proportionate net sales relating to divestitures that closed during 2024 in the relevant period.

Represents U.S. GAAP net sales minus proportionate net sales relating to divestitures that closed during 2024 for the relevant period.

See Key References on slide 2.

For the three months ended March 31, 2025, other revenues in Developed Markets, JANZ, and Emerging Markets were approximately $6.9 million, $1.0 million, and $3.2 million, respectively.

Amounts exclude intersegment revenue which eliminates on a consolidated basis.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Three Months Ended

March 31,

2025 2024

Select Key Global Products

Select Key Segment Products

Key Product Net Sales, on a Consolidated Basis

Lipitor ®

$ 388.0 $

388.9

Norvasc ®

172.3

176.3

Lyrica ®

112.6

114.2

Viagra ®

98.5

100.7

EpiPen ® Auto-Injectors

96.7

80.2

Creon ®

82.4

75.0

Celebrex ®

63.4

72.2

Zoloft ®

60.2

58.0

Effexor ®

59.3

59.4

Xalabrands

37.1

42.5

Yupelri ®

$ 58.3

$ 55.2

Dymista ®

42.8

48.2

Amitiza ®

33.3

33.0

Xanax ®

32.3

34.5

The Company does not disclose net sales for any products considered competitively sensitive.

Products disclosed may change in future periods, including as a result of seasonality, competition or new product launches.

Amounts for the three months ended March 31, 2025 include the impact of foreign currency translations compared to the prior year period.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s)

Cost of Sales

Three Months Ended

March 31,

2025 2024

U.S. GAAP cost of sales $

Deduct:

2,093.1 $

2,159.4

Purchase accounting amortization and other related items......... (583.5) (611.5) Acquisition and divestiture-related costs........................................ (12.2) (6.3)

Restructuring-related costs.............................................................. (19.8) (4.0)

Share-based compensation expense.............................................. (1.3) (0.8) Other special items........................................................................... (41.6) (28.2)

Adjusted cost of sales........................................................................... $ 1,434.7 $ 1,508.6

Adjusted gross profit (a)....................................................................... $ 1,819.6 $ 2,154.8

Adjusted gross margin (a)..................................................................... 56% 59%

(a) U.S. GAAP gross profit is calculated as total revenues less U.S. GAAP cost of sales. U.S. GAAP gross margin is calculated as U.S. GAAP gross profit divided by total revenues. Adjusted gross profit is calculated as total

revenues less adjusted cost of sales. Adjusted gross margin is calculated as adjusted gross profit divided by total revenues.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s)

Three Months Ended

March 31,

2025 2024

Other special items and reclassifications......................................... (17.6) (16.1)

Adjusted SG&A...................................................................................... $ 778.7 $ 859.6

Adjusted SG&A as % of total revenues................................................ 24% 23%

SG&A

U.S. GAAP SG&A $

948.1

$ 1,017.5

Add / (deduct):

Acquisition and divestiture-related costs.........................................

(27.8)

(76.5)

Restructuring and related costs........................................................

(72.3)

(15.6)

Purchase accounting amortization and other related items..........

(0.1)

Share-based compensation expense................................................

(51.7)

(43.9)

SG&A and R&D TSA reimbursement (a)............................................

(5.7)

(a) See SG&A and R&D TSA Reimbursement on slide 2.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s)

Three Months Ended

March 31,

Adjusted R&D as % of total revenues......................

R&D

2025

2024

U.S. GAAP R&D..........................................................

$ 222.0

$ 199.7

Deduct:

Acquisition and divestiture-related costs............

(0.7)

(4.6)

Restructuring and related costs...........................

(0.8)

Share-based compensation expense..................

(2.3)

(1.9)

SG&A and R&D TSA reimbursement (a)..............

(1.7)

Other special items...............................................

(0.7)

(2.4)

Adjusted R&D............................................................

$ 217.5

$ 189.1

(a) See SG&A and R&D TSA Reimbursement on slide 2.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Three Months Ended

March 31,

Total Operating Expenses

2025

2024

U.S. GAAP total operating expenses $

4,043.4

$ 1,300.1

Add / (Deduct):...........................................................................

Litigation settlements and other contingencies, net............

73.5

(76.8)

R&D adjustments....................................................................

(4.5)

(10.6)

SG&A adjustments..................................................................

(169.4)

(157.9)

Impairment of goodwill adjustments....................................

(2,936.8)

Adjusted total operating expenses $

1,006.2

$ 1,054.8

Adjusted earnings from operations (a) $

813.4

$ 1,100.0

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Interest Expense

Three Months Ended

March 31,

2025 2024

U.S. GAAP interest expense $

Add / (Deduct):

Accretion of contingent consideration liability............................... Amortization of premiums and discounts on long-term debt......

115.5 $

138.4

(1.2)

11.0

(1.7)

13.8

Other special items........................................................................... (0.6) (0.9)

Adjusted interest expense.................................................................... $ 124.7 $ 149.6

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Three Months Ended

March 31,

2025 2024

Other items............................................................................................... 14.4 (2.6)

Adjusted other income, net....................................................................... $ (39.0) $ (17.0)

Other Expense (Income), Net

U.S. GAAP other expense (income), net $

99.3

$ (139.1)

Add / (Deduct):

Fair value adjustments on non-marketable equity investments.........

(115.8)

46.9

SG&A and R&D TSA reimbursement (a).................................................

7.4

(Loss) gain on divestitures of businesses...............................................

(36.9)

70.4

(a) See SG&A and R&D TSA Reimbursement on slide 2.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s)

Three Months Ended

March 31,

(Loss) Earnings Before Income Taxes and Income Tax (Benefit) Provision

2025

2024

U.S. GAAP (loss) earnings before income taxes...........

$ (3,097.0)

$ 204.6

Total pre-tax non-GAAP adjustments...........................

3,824.7

762.9

Adjusted earnings before income taxes.......................

$ 727.7

$ 967.5

U.S. GAAP income tax (benefit) provision....................

$ (55.0)

$ 90.7

Adjusted tax expense.....................................................

182.3

64.1

Adjusted income tax provision.....................................

$ 127.3

$ 154.8

Adjusted effective tax rate.............................................

17.5%

16.0%

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Free Cash Flow and Free Cash Flow Excluding Transaction Costs

Three Months Ended

March 31,

U.S. GAAP net cash provided by operating activities $

Capital expenditures..................................................................

Free cash flow $

2025

535.5 $

(42.6)

492.9 $

2024

614.6

(49.8)

564.8

Acquisition and divestiture-related transaction costs............

Free cash flow excluding transaction costs and taxes $

42.5

535.4 $

83.5

648.3

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio)

Gross Leverage - Debt to Adjusted EBITDA

Gross Leverage Ratio is the ratio of Viatris' total debt at notional amounts at March 31, 2025 to the sum of Viatris' adjusted EBITDA for the quarters ended June 30, 2024, September 30, 2024, December 31, 2024, and March 31, 2025.

Three Months Ended Twelve Months Ended

June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 March 31, 2025

Adjusted EBITDA $

1,207.9 $

1,284.6 $

983.5 $

923.5 $

4,399.5

Reported debt balances:

Long-term debt, including current portion......................... 14,178.2

Short-term borrowings and other current obligations...... 1.6

Total............................................................................................

Add / (deduct):

$ 14,179.8

Net premiums on various debt issuances........................... (474.8)

Deferred financing fees......................................................... 23.6

Total debt at notional amounts................................................ $ 13,728.6

Gross debt to adjusted EBITDA x

Long-term Gross Leverage Target

The stated forward-looking non-GAAP financial measure of long-term gross leverage target of ~3.0x, with a range of 2.8x - 3.2x, is based on the ratio of (i) targeted notional gross debt and (ii) targeted adjusted EBITDA. However, the Company has not quantified future amounts to develop this target but has stated its goal to manage notional gross debt and adjusted EBITDA over time in order to generally maintain or reach the target. This target does not reflect Company guidance.

‌Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions)

Three Months Ended June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025

Net (Loss) Earnings to EBITDA and Adjusted EBITDA - Last Twelve Months

U.S. GAAP net (loss) earnings.....................................................................................

Add / (deduct) adjustments:

$ (326.4) $

94.8 $

(516.5) $

(3,042.0)

Income tax (benefit) provision................................................................................

(65.4)

(4.3)

(10.0)

(55.0)

Interest expense (a)..................................................................................................

145.8

145.6

120.2

115.5

Depreciation and amortization (b).........................................................................

786.3

669.7

746.2

664.7

EBITDA..........................................................................................................................

Add / (deduct) adjustments:

Share-based compensation expense.....................................................................

540.3

34.7

905.8

32.4

339.9

32.3

$ (2,316.8)

55.2

Litigation settlements and other contingencies, net............................................

131.0

31.5

111.6

(73.5)

Loss (gain) on divestitures of businesses..............................................................

258.8

107.4

103.6

36.9

Impairment of goodwill..........................................................................................

321.0

2,936.8

Restructuring, acquisition and divestiture-related and other special items......

(77.9)

207.5

396.1

284.9

Adjusted EBITDA..........................................................................................................

$ 1,207.9 $

1,284.6

983.5

923.5

Includes amortization of premiums and discounts on long-term debt.

Includes purchase accounting related amortization.

Disclaimer

Viatris Inc. published this content on May 08, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 08, 2025 at 11:06 UTC.