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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 24, 2021
Sep. 25, 2020
Sep. 24, 2021
Sep. 25, 2020
Net sales (includes refined estimate of the retrospective one-time charge of $0.7 million and $535.1 million related to the Medicaid lawsuit for the three and nine months ended September 25, 2020) $ 507.2 $ 698.3 $ 1,611.6 $ 1,530.6
Cost of sales 319.2 403.0 958.4 1,171.7
Gross profit 188.0 295.3 653.2 358.9
Selling, general and administrative expenses 127.3 220.8 408.3 683.2
Research and development expenses 47.3 65.5 166.3 225.8
Restructuring charges, net 11.0 3.2 17.5 15.8
Non-restructuring impairment charges 0.0 0.0 64.5 63.5
(Gains) losses on divestiture 0.0 (9.7) 0.8 (10.1)
Opioid-related litigation settlement loss (gain) (Note 12) 125.0 (25.8) 125.0 (34.1)
Operating (loss) income (122.6) 41.5 (129.2) (690.3)
Interest expense (48.7) (62.2) (160.7) (200.9)
Interest income 0.0 0.9 1.9 5.4
Other (expense) income, net (3.5) 0.0 15.9 1.1
Reorganization items, net (126.2) 0.0 (329.2) 0.0
Loss from continuing operations before income taxes (301.0) (19.8) (601.3) (884.7)
Income tax benefit (32.0) (211.6) (81.9) (69.2)
(Loss) income from continuing operations (269.0) 191.8 (519.4) (815.5)
Income (loss) from discontinued operations, net of income taxes 5.3 (0.2) 6.0 $ 23.8
Net (loss) income $ (263.7) $ 191.6 $ (513.4)  
Basic (loss) income per share (Note 6):        
(Loss) income from continuing operations $ (3.18) $ 2.27 $ (6.13) $ (9.66)
Income (loss) from discontinued operations 0.06 0 0.07 0.28
Net (loss) income $ (3.11) $ 2.26 $ (6.06) $ (9.38)
Basic weighted-averaged shares outstanding (in shares) 84.7 84.6 84.7 84.4
Diluted (loss) income per share (Note 6):        
(Loss) income from continuing operations $ (3.18) $ 2.27 $ (6.13) $ (9.66)
Income (loss) from discontinued operations 0.06 0 0.07 0.28
Net (loss) income $ (3.11) $ 2.26 $ (6.06) $ (9.38)
Diluted weighted-average shares outstanding (in shares) 84.7 84.6 84.7 84.4
Sales [Member]        
Medicaid lawsuit (Note 12) $ 0.0 $ (0.7) $ 0.0 $ (535.1) [1]
Retained Earnings (Deficit)        
Net (loss) income $ (263.7) $ 191.6 $ (513.4) $ (791.7)
[1] Excludes the $105.1 million that is reflected as a component of operating expenses as it represents a pre-acquisition contingency related to the portion of the liability that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor Pharmaceuticals Inc. ("Questcor") in August 2014. See Note 12 for further detail on the status of the Medicaid lawsuit.