Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 30, 2018

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following tables provide a summary of the significant assets and liabilities that are measured at fair value on a recurring basis at the end of each period:



	March 30, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	35.3	$	24.4	$	10.9	$	—
Equity securities	19.4		19.4		—		—
	$	54.7	$	43.8	$	10.9	$	—

Liabilities:
Deferred compensation liabilities	$	38.4	$	—	$	38.4	$	—
Contingent consideration and acquired contingent liabilities	222.0		—		—		222.0
Foreign exchange forward and option contracts	0.1		0.1		—		—
	$	260.5	$	0.1	$	38.4	$	222.0



	December 29, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	35.4	$	24.0	$	11.4	$	—
Equity securities	22.7		22.7		—		—
Foreign exchange forward and option contracts	0.1		0.1		—		—
	$	58.2	$	46.8	$	11.4	$	—

Liabilities:
Deferred compensation liabilities	$	42.7	$	—	$	42.7	$	—
Contingent consideration and acquired contingent liabilities	246.4		—		—		246.4
Foreign exchange forward and option contracts	0.1		0.1		—		—
	$	289.2	$	0.1	$	42.7	$	246.4

Schedule of Reconciliation of Changes in Fair Value of Contingent Liabilities



Balance at December 29, 2017	$	246.4
Disposal of business	(12.1		)
Payments	(12.0		)
Accretion expense	1.3
Fair value adjustment	(1.6		)
Balance at March 30, 2018	$	222.0

Schedule of Carrying Amount and Fair Value of Long-term Debt

The following table presents the carrying values and estimated fair values of the Company's long-term debt, excluding capital leases, as of the end of each period:



	March 30, 2018				December 29, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Level 1
3.50% notes due April 2018	$	300.0	$	300.0	$	300.0	$	299.1
4.875% notes due April 2020	700.0		665.8		700.0		675.2
Variable-rate receivable securitization due July 2020	219.6		219.6		200.0		200.0
5.75% notes due August 2022	884.0		762.1		884.0		804.8
4.75% notes due April 2023	500.2		385.1		526.5		412.4
5.625% notes due October 2023	731.4		590.9		738.0		628.8
5.50% notes due April 2025	692.1		534.3		692.1		564.5
Revolving credit facility	625.0		625.0		900.0		900.0
Level 2
9.50% debentures due May 2022	10.4		10.6		10.4		10.9
8.00% debentures due March 2023	4.4		4.2		4.4		4.4
Term loan due September 2024	1,622.0		1,613.8		1,851.2		1,848.7
Term loan due February 2025	600.0		600.3		—		—
Level 3
AOCA loan due September 2028	1.7		1.7		—		—

Schedules of Concentration of Risk

Net sales attributable to distributors that accounted for 10% or more of the Company's total net sales was limited to CuraScript, Inc. ("CuraScript"), which accounted for 47% and 55% of net sales during the three months ended March 30, 2018 and March 31, 2017, respectively. Accounts receivable attributable to distributors that accounted for 10% or more of the Company's gross accounts receivable was also limited to CuraScript, which accounted for 31% and 34% of accounts receivable at March 30, 2018 and December 29, 2017, respectively.

The following table shows net sales attributable to products that accounted for 10% or more of the Company's total net sales:



	Three Months Ended
	March 30, 2018		March 31, 2017
H.P. Acthar Gel	43	%	49	%
Inomax	24	%	23	%
Ofirmev	14	%	13	%
Therakos	10	%	*

*Net sales attributable to this product was less than 10% of total net sales during the respective period presented above.