Restructuring and Related Charges (Tables)

6 Months Ended

Jul. 01, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Charges by Segment

Net restructuring and related charges by segment 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
Corporate	$	1.1	$	2.8	$	6.7
Restructuring and related charges, net	1.1		2.8		6.7
Less: accelerated depreciation	—		—		(0.6)
Restructuring charges, net	$	1.1	$	2.8	$	6.1

	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
Specialty Generics	$	—	$	3.5	$	—
Corporate	1.1		6.1		7.8
Restructuring and related charges, net	1.1		9.6		7.8
Less: accelerated deprecation	—		—		(1.3)
Restructuring charges, net	$	1.1	$	9.6	$	6.5

Schedule of Net Restructuring and Related Charges

Net restructuring and related charges by program were comprised of the following:

	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
2018 Program	$	1.1	$	2.8	$	6.7
Less: non-cash charges, including accelerated depreciation	(0.2)		(1.5)		(1.5)
Total charges expected to be settled in cash	$	0.9	$	1.3	$	5.2

	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
2018 Program	$	1.1	$	9.6	$	7.8
Less: non-cash charges, including accelerated depreciation	(0.2)		(3.6)		(2.6)
Total charges expected to be settled in cash	$	0.9	$	6.0	$	5.2

Schedule of Restructuring Reserves Reconciliation by Program

The following table summarizes cash activity for restructuring reserves, which primarily related to employee severance and benefits:

	2018 Program
Balance as of December 31, 2021 (Predecessor)	$	10.9
Charges	7.1
Changes in estimate	(1.1)
Cash payments	(15.9)
Balance as of June 16, 2022 (Predecessor)	$	1.0
Balance as of June 17, 2022 (Successor)	$	1.0
Charges	0.9
Balance as of July 1, 2022 (Successor)	$	1.9

Schedule of Restructuring Charges Incurred Cumulative to Date

As of July 1, 2022, net restructuring and related charges incurred cumulative to date were as follows:

	Successor		Predecessor
	2018 Program		2018 Program
Specialty Brands	$	—	$	3.1
Specialty Generics	—		18.5
Corporate	1.1		84.0
	$	1.1	$	105.6