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Income Taxes (Tables)
 12 Months Ended
Dec. 27, 2019
Income Tax Disclosure [Abstract]  
Schedule of Components of Income from Continuing Operations before Income Taxes
The U.K. and non-U.K. components of (loss) income from continuing operations before income taxes were as follows:
 
Fiscal Year
 
2019
 
2018
 
2017
U.K.
$
(75.3
)
 
$
(233.7
)
 
$
(165.9
)
Non-U.K.
(1,516.2
)
 
(3,818.3
)
 
227.5

Total
$
(1,591.5
)
 
$
(4,052.0
)
 
$
61.6
Schedule of Significant Components of Income Taxes Related to Continuing Operations
Significant components of income taxes related to continuing operations are as follows:
 
Fiscal Year
 
2019
 
2018
 
2017
Current:
 
 
 
 
 
U.K.
$
0.1

 
$
(0.2
)
 
$
0.4

Non-U.K.
21.7

 
113.0

 
37.7

Current income tax provision
21.8

 
112.8

 
38.1

Deferred:
 
 
 
 
 
U.K.
(1.1
)
 
1.4

 
0.6

Non-U.K.
(605.0
)
 
(544.3
)
 
(1,748.3
)
Deferred income tax benefit
(606.1
)
 
(542.9
)
 
(1,747.7
)
Total
$
(584.3
)
 
$
(430.1
)
 
$
(1,709.6
)
Schedule of Reconciliation of Income Taxes at Statutory Rate and Tax Provision
The reconciliation between U.K. income taxes at the statutory rate and the Company's provision for income taxes on continuing operations is as follows:
 
Fiscal Year
 
2019
 
2018
 
2017
Provision (benefit) for income taxes at U.K. statutory income tax rate (1)
$
(302.4
)
 
$
(770.1
)
 
$
11.7

Adjustments to reconcile to income tax provision:
 
 
 
 
 
Rate difference between U.K. and non-U.K. jurisdictions (2)
(206.3
)
 
(235.7
)
 
(219.9
)
Valuation allowances, nonrecurring (3)
61.7

 
—

 
(3.7
)
Adjustments to accrued income tax liabilities and uncertain tax positions
(12.4
)
 
60.1

 
5.1

Interest and penalties on accrued income tax liabilities and uncertain tax positions
(6.3
)
 
13.1

 
0.2

Credits, principally research and orphan drug (4)
(13.5
)
 
(25.9
)
 
(13.8
)
Impairments non deductible
—

 
788.7

 
—

Permanently nondeductible and nontaxable items (3)
98.1

 
7.2

 
6.4

Pension plan settlement, release of tax effects lodged in other comprehensive income
—

 
—

 
(2.4
)
Divestitures (5)
9.6

 
(2.7
)
 
18.2

U.S. Tax Reform (6)
—

 
(8.5
)
 
(456.9
)
Legal Entity Reorganization (7)
(212.8
)
 
(256.0
)
 
(1,054.8
)
Other
—

 
(0.3
)
 
0.3

Benefit for income taxes
$
(584.3
)
 
$
(430.1
)
 
$
(1,709.6
)
(1)
The statutory tax rate reflects the U.K. statutory tax rate of 19.0% for all periods presented.
(2)
Includes the impact of certain recurring valuation allowances for U.K. and non-U.K. jurisdictions.
(3)
For fiscal 2019, the nonrecurring valuation allowances and permanently nondeductible and nontaxable item were primarily driven by the impact from the opioid-related litigation settlement charge. Refer to Note 24 for further discussion.
(4)
During fiscal 2019 and 2018, the research and orphan drug credits decreased primarily as a result of the impact of the Tax Cut and Jobs Act of 2017 ("TCJA") and increased in conjunction with the Company's increased investment in qualified research, respectively.
(5)
The Company completed the sale of its wholly owned subsidiary BioVectra in November 2019, a portion of its Hemostasis business during fiscal 2018 and the Intrathecal Therapy Business during fiscal 2017.
(6)
For fiscal 2018, the Company completed its analysis of the TCJA and recognized an additional tax benefit. Other line items, to the extent U.S. related, are reflected at the current U.S. statutory income tax rate of 21.0%. For fiscal 2017, the benefit reflects the redetermination of the Company's end of year net deferred tax liabilities as a result of the new U.S. statutory income tax rate of 21.0%. Other line items, to the extent U.S. related, are reflected at the former U.S. statutory income tax rate of 35.0%.
(7)
Associated unrecognized tax benefit netted within this line.
 [1],[2],[3],[4]
Schedule of Unrecognized Tax Benefit Activity
The following table summarizes the activity related to the Company's unrecognized tax benefits, excluding interest:
 
Fiscal Year
 
2019
 
2018
 
2017
Balance at beginning of period
$
287.7

 
$
182.5

 
$
118.7

Additions related to current year tax positions
123.5

 
19.6

 
79.9

Additions related to prior period tax positions
19.2

 
125.1

 
0.3

Reductions related to prior period tax positions
(5.7
)
 
(32.7
)
 
(13.6
)
Settlements
(1.0
)
 
(2.0
)
 
—

Lapse of statute of limitations
(25.1
)
 
(4.8
)
 
(2.8
)
Balance at end of period
$
398.6

 
$
287.7

 
$
182.5
Schedule of Unrecongized Tax Benefits Balance Sheet Location
Unrecognized tax benefits, excluding interest, are reported in the following consolidated balance sheet captions in the amounts shown:
 
December 27, 2019
 
December 28, 2018
Other assets
$
204.7

 
$
—

Accrued and other current liabilities
—

 
1.0

Other income tax liabilities
193.9

 
189.9

Deferred income taxes (non-current liability)
—

 
96.8

 
$
398.6

 
$
287.7
Schedule of Income Taxes Payable
Income taxes payable, including uncertain tax positions and related interest accruals, is reported in the following consolidated balance sheet captions in the amounts shown:
 
December 27, 2019
 
December 28, 2018
Accrued and other current liabilities
$
15.0

 
$
25.0

Other income tax liabilities
227.1

 
228.0

 
$
242.1

 
$
253.0
Schedule of Income Tax Receivables and Other Assets
 
December 27, 2019
 
December 28, 2018
Other assets
$
3.1

 
$
3.0

Prepaid expenses and other current assets
8.0

 
16.2

 
$
11.1

 
$
19.2
Schedule of Deferred Taxes Activity The components of the net deferred tax asset (liability) at the end of each fiscal year were as follows:
 
December 27, 2019
 
December 28, 2018
Deferred tax assets:
 
 
 
Tax loss and credit carryforwards
$
2,263.4

 
$
1,987.8

Intangible assets
981.2

 
757.7

Opioid-related litigation settlement liability
273.7

 
—

Excess interest
81.5

 
71.4

Other
200.4

 
189.5

 
3,800.2

 
3,006.4

Deferred tax liabilities:
 
 
 
Intangible assets
(139.4
)
 
(264.7
)
Interest-bearing deferred tax obligations
—

 
(227.5
)
Investment in partnership
(178.9
)
 
(170.2
)
Other
(46.3
)
 
(42.9
)
 
(364.6
)
 
(705.3
)
Net deferred tax asset before valuation allowances
3,435.6

 
2,301.1

Valuation allowances
(3,131.5
)
 
(2,604.9
)
Net deferred tax assets (liability)
$
304.1

 
$
(303.8
)
Schedule of Deferred Taxes Balance Sheet Location
Deferred taxes are reported in the following consolidated balance sheet captions in the amounts shown:
 
December 27, 2019
 
December 28, 2018
Other assets
$
315.1

 
$
20.5

Deferred income taxes (non-current liability)
(11.0
)
 
(324.3
)
Net deferred tax asset (liability)
$
304.1

 
$
(303.8
)
[1]
During fiscal 2019 and 2018, the research and orphan drug credits decreased primarily as a result of the impact of the Tax Cut and Jobs Act of 2017 ("TCJA") and increased in conjunction with the Company's increased investment in qualified research, respectively.
[2]
Includes the impact of certain recurring valuation allowances for U.K. and non-U.K. jurisdictions.
[3]
The Company completed the sale of its wholly owned subsidiary BioVectra in November 2019, a portion of its Hemostasis business during fiscal 2018 and the Intrathecal Therapy Business during fiscal 2017.
[4]
The statutory tax rate reflects the U.K. statutory tax rate of 19.0% for all periods presented.