Revenue from Contracts with Customers Revenue from Contracts with Customers (Notes)

6 Months Ended

Jul. 01, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

4. Revenue from Contracts with Customers

Product Sales Revenue

See Note 15 for presentation of the Company's net sales by product family.

Reserves for variable consideration

The following table reflects activity in the Company's sales reserve accounts:

	Rebates and Chargebacks		Product Returns		Other Sales Deductions		Total
Balance as of December 25, 2020 (Predecessor)	$	196.5	$	26.6	$	12.3	$	235.4
Provisions	1,059.3		14.4		28.3		1,102.0
Payments or credits	(987.1)		(19.5)		(28.6)		(1,035.2)
Balance as of June 25, 2021 (Predecessor)	$	268.7	$	21.5	$	12.0	$	302.2
Balance as of December 31, 2021 (Predecessor)	$	241.8	$	21.5	$	9.5	$	272.8
Provisions	693.4		5.2		17.1		715.7
Payments or credits	(684.6)		(8.1)		(18.9)		(711.6)
Balance as of June 16, 2022 (Predecessor)	$	250.6	$	18.6	$	7.7	$	276.9
Balance as of June 17, 2022 (Successor)	$	250.6	$	18.6	$	7.7	$	276.9
Provisions	68.5		0.5		1.5		70.5
Payments or credits	(81.4)		(0.7)		(1.9)		(84.0)
Balance as of July 1, 2022 (Successor)	$	237.7	$	18.4	$	7.3	$	263.4

Product sales transferred to customers at a point in time and over time were as follows:

	Successor		Predecessor
	Period from June 17, 2022 through July 1, 2022		Period from April 2, 2022  through June 16, 2022		Three Months Ended June 25, 2021
Product sales transferred at a point in time	83.8	%	82.4	%	80.3	%
Product sales transferred over time	16.2		17.6		19.7

	Successor		Predecessor
	Period from June 17, 2022 through July 1, 2022		Period from January 1, 2022  through June 16, 2022		Six Months Ended June 25, 2021
Product sales transferred at a point in time	83.8	%	80.8	%	78.0	%
Product sales transferred over time	16.2		19.2		22.0

Transaction price allocated to the remaining performance obligations

The following table includes estimated revenue from contracts extending greater than one year for certain of the Company's hospital products that are expected to be recognized in the future related to performance obligations that were unsatisfied or partially unsatisfied as of July 1, 2022:

	Successor
Remainder of Fiscal 2022	$	51.4
Fiscal 2023	85.5
Fiscal 2024	23.5
Thereafter	2.7

Product Royalty Revenues

The Company licenses certain rights to Amitiza® (lubiprostone) ("Amitiza") to third parties in exchange for royalties on net sales of the product. The Company receives a double-digit royalty based on a percentage of the gross profits of the licensed products sold during the term of the agreements. The Company recognizes such royalty revenue as the related sales occur. The associated royalty revenue recognized was as follows:

	Successor		Predecessor
	Period from June 17, 2022 through July 1, 2022		Period from April 2, 2022  through June 16, 2022		Three Months Ended June 25, 2021
Royalty revenue	$	3.0	$	14.9	$	19.5

	Successor		Predecessor
	Period from June 17, 2022 through July 1, 2022		Period from January 1, 2022  through June 16, 2022		Six Months Ended June 25, 2021
Royalty revenue	$	3.0	$	34.9	$	54.9