Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 27, 2019

Fair Value Disclosures [Abstract]

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:

	December 27, 2019		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	$	30.6	$	21.0	$	9.6	$	—
Equity securities	26.2		26.2		—		—
	$	56.8	$	47.2	$	9.6	$	—
Liabilities:
Deferred compensation liabilities	$	39.2	$	—	$	39.2	$	—
Contingent consideration and acquired contingent liabilities	69.3		—		—		69.3
	$	108.5	$	—	$	39.2	$	69.3

	December 28, 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	$	33.1	$	22.4	$	10.7	$	—
	$	33.1	$	22.4	$	10.7	$	—
Liabilities:
Deferred compensation liabilities	$	38.5	$	—	$	38.5	$	—
Contingent consideration and acquired contingent liabilities	151.4		—		—		151.4
	$	189.9	$	—	$	38.5	$	151.4

Schedule of Reconciliation of Changes in Fair Value of Contingent Consideration

The following table summarizes the fiscal 2019 activity for contingent consideration:

Balance as of December 28, 2018	$	151.4
Payments	(25.0		)
Accretion expense	3.1
Fair value adjustment	(60.2		)
Balance as of December 27, 2019	$	69.3

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 debt as of the end of each period:

	December 27, 2019				December 28, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Level 1:
4.875% senior notes due April 2020	$	614.8	$	480.0	$	700.0	$	676.6
Variable-rate receivable securitization due July 2020	—		—		250.0		250.0
5.75% senior notes due August 2022	610.3		251.0		835.2		713.6
4.75% senior notes due April 2023	133.7		53.7		500.2		336.7
5.625% senior notes due October 2023	514.7		193.2		731.4		557.0
5.50% senior notes due April 2025	387.2		135.5		692.1		479.1
10.00% senior notes due April 2025	322.9		253.8		—		—
Revolving credit facility	900.0		900.0		220.0		220.0
Level 2:
9.50% debentures due May 2022	10.4		5.4		10.4		9.7
8.00% debentures due March 2023	4.4		2.0		4.4		3.8
Term loan due September 2024	1,520.8		1,240.0		1,613.8		1,472.4
Term loan due February 2025	403.6		326.2		597.0		548.0
Level 3:
Other	—		—		2.2		2.2
Total Debt	$	5,422.8	$	3,840.8	$	6,156.7	$	5,269.1

Schedules of Concentration of Risk

The following table shows net sales attributable to distributors that accounted for 10.0% or more of the Company's total net sales:

	Fiscal Year
	2019		2018		2017
CuraScript, Inc.	29.7	%	35.2	%	40.1	%
AmerisourceBergen Corporation	10.2	%	*		*

* Net sales to this distributor were less than 10.0% of total net sales during the respective periods presented above.

The following table shows accounts receivable attributable to distributors that accounted for 10.0% or more of the Company's gross accounts receivable at the end of each period:

	December 27, 2019		December 28, 2018
AmerisourceBergen Corporation	31.3	%	25.7	%
McKesson Corporation	15.3	%	21.9	%
CuraScript, Inc.	12.1	%	13.1	%

The following table shows net sales attributable to products that accounted for 10.0% or more of the Company's total net sales:

	Fiscal Year
	2019		2018		2017
Acthar Gel	30.1	%	34.5	%	37.1	%
INOmax	18.1	%	16.9	%	15.7	%
Ofirmev	12.1	%	10.6	%	*

* Net sales from this product were less than 10.0% of total net sales during the respective period presented above.