Divestitures Divestitures (Notes)

9 Months Ended

Sep. 27, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

4. Divestitures

In September 2019, the Company entered into an agreement to sell BioVectra to an affiliate of H.I.G. Capital for up to $250.0 million, including fixed consideration of $175.0 million, comprised of an upfront payment of $135.0 million and a long-term note for $40.0 million and contingent payments of up to $75.0 million. See Note 19 for updates to the deal structure that were made in conjunction with the completed sale of BioVectra on November 4, 2019.

The results related to BioVectra are reported under the Specialty Brands segment.

The following table summarizes the assets and liabilities of BioVectra that are classified as held for sale on the unaudited condensed consolidated balance sheet at the end of the respective period:

	September 27, 2019
Carrying amounts of major classes of assets included as held for sale
Accounts receivable	$	15.6
Inventories	14.7
Property, plant and equipment, net	103.4
Intangible assets, net	14.5
Other current and non-current assets	27.7
Total assets classified as held for sale on the balance sheet	$	175.9
Carrying amounts of major classes of liabilities included as held for sale
Accounts payable	$	9.9
Other current and non-current liabilities	45.9
Total liabilities classified as held for sale on the balance sheet	$	55.8