Reorganizations (Tables)

3 Months Ended

Mar. 26, 2021

Reorganizations [Abstract]

Schedule of Liabilities Subject to Compromise

Liabilities subject to compromise at the end of each period consisted of the following:

	March 26, 2021		December 25, 2020
Accounts payable (1)	$	52.9	$	61.9
Accrued interest	35.2		35.2
Debt (2)	3,446.5		1,660.7
Medicaid lawsuit	638.9		638.9
Opioid-related litigation settlement liability	1,600.0		1,600.0
Other current and non-current liabilities (3)	108.1		163.5
Pension and postretirement benefits	32.6		32.4
Total liabilities subject to compromise	$	5,914.2	$	4,192.6

(1)Pre-petition accounts payable balances have been repaid under effectuated trade agreements pursuant to the critical vendor motion approved by the Bankruptcy Court.

(2)In accordance with the Joinder and Amendment to the RSA, $1,785.8 million of outstanding senior secured term loans have been reclassified to LSTC in the Company's unaudited condensed consolidated balance sheets as of March 26, 2021.

(3)The decrease in other current and non-current liabilities was primarily attributable to the Bankruptcy Court's approval of the Company's rejection of its Bedminster facility lease, which resulted in a $34.8 million adjustment to the carrying value of the respective lease liability in LSTC to reflect the estimated allowed claim amount. The remaining decrease was primarily attributable to a decrease of $15.6 million in the fair value of contingent consideration related to an asset for which the Company is no longer pursuing further development. Refer to Note 12 for further information on the valuation of contingent consideration.

Non-debtor Entity Intercompany Balances

Non-debtor entity intercompany balances from/due to the debtor entities at the end of each period were:

	March 26, 2021		December 25, 2020
Intercompany receivables	$	135.4	$	282.3
Intercompany payables	129.5		120.3

Schedule of Debtor Reorganization Items, net

Reorganization items, net, for the three months ended March 26, 2021 included the following:

	March 26, 2021
Professional fees	$	77.7
Debt valuation adjustments	16.3
Adjustments of other claims	(0.5)
Total reorganization items, net	$	93.5