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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 27, 2019
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)
22.
Selected Quarterly Financial Data (Unaudited)

A summary of quarterly financial information for fiscal 2019 and 2018 is as follows:
 
For the Quarter Ended
 
March 29,
2019
 
June 28,
2019
 
September 27,
2019
 
December 27,
2019
Net sales
$
790.6

 
$
823.3

 
$
743.7

 
$
804.9

Gross profit
335.1

 
388.9

 
324.3

 
373.1

Income (loss) from continuing operations (1)
155.2

 
(0.5
)
 
(0.9
)
 
(1,161.0
)
(Loss) income from discontinued operations
(0.3
)
 
7.3

 
(0.2
)
 
3.9

Net income (loss)
154.9

 
6.8

 
(1.1
)
 
(1,157.1
)
 
 
 
 
 
 
 
 
Basic earnings (loss) per share from continuing operations (2)
$
1.86

 
$
(0.01
)
 
$
(0.01
)
 
$
(13.80
)
Diluted earnings (loss) per share from continuing operations (2)
1.83

 
(0.01
)
 
(0.01
)
 
(13.80
)
 
 
For the Quarter Ended (3)
 
March 30,
2018
 
June 29,
2018
 
September 28,
2018
 
December 28,
2018
Net sales
$
755.3

 
$
825.5

 
$
799.9

 
$
834.9

Gross profit
347.5

 
394.0

 
366.4

 
363.3

(Loss) income from continuing operations (4)
(20.9
)
 
3.2

 
114.2

 
(3,718.4
)
Income (loss) from discontinued operations
2.9

 
12.4

 
(0.4
)
 
—

Net (loss) income
(18.0
)
 
15.6

 
113.8

 
(3,718.4
)
 
 
 
 
 
 
 
 
Basic (loss) earnings per share from continuing operations (2)
$
(0.24
)
 
$
0.04

 
$
1.37

 
$
(44.64
)
Diluted (loss) earnings per share from continuing operations (2)
(0.24
)
 
0.04

 
1.34

 
(44.64
)

(1)
Loss from continuing operations for the quarter ended December 27, 2019 reflects the opioid-related litigation settlement charge of $1,643.4 million. See Note 24 for further information.
(2)
Quarterly and annual computations are prepared independently. Therefore, the sum of each quarter may not necessarily total the fiscal period amounts noted elsewhere within this Annual Report on Form 10-K.
(3)
The "Specialty Generics Disposal Group" was included within discontinued operations during the first three quarters of fiscal 2018, and was subsequently recast to be included within continuing operations during the fourth quarter of fiscal 2018. In accordance with U.S. GAAP, depreciation and amortization are not recorded during the period in which a disposal group is classified as held-for-sale, thus the Company's financial results during the first three quarters of fiscal 2018 did not include $17.7 million and $6.8 million of depreciation and amortization expense, respectively, related to the Specialty Generics Disposal Group. During the fourth quarter of fiscal 2018, the Specialty Generics Disposal Group was reclassified to held and used and measured at its carrying amount before it was classified as held-for-sale, adjusted for depreciation and amortization expense that would have been recognized had the disposal group been continuously classified as held and used. The total adjustment of $24.5 million was reflected in loss from continuing operations during the fourth quarter of fiscal 2018, the period in which the held-for-sale criteria were no longer met. The Specialty Generics Disposal Group included (1) the Company's Specialty Generics business comprised of what was the Company's Specialty Generics segment in fiscal 2017, with the exception of BioVectra; (2) certain of the Company's non-promoted brands business; and (3) the Company's post-divestiture supply agreement with the acquirer of the contrast media and delivery systems ("CMDS") business.
(4)
Loss from continuing operations for the quarter ended December 28, 2018 reflects impairment charges for goodwill and an IPR&D asset. See Note 13 for further information.