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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2022
Sep. 24, 2021
Jun. 16, 2022
Sep. 24, 2021
Net sales $ 465.4 $ 550.4 $ 507.2 $ 874.6 $ 1,611.6
Cost of sales 449.9 552.1 319.2 582.0 958.4
Gross profit 15.5 (1.7) 188.0 292.6 653.2
Selling, general and administrative expenses 129.2 159.5 127.3 275.3 408.3
Research and development expenses 28.3 34.5 47.3 65.5 166.3
Restructuring charges, net 2.2 3.3 11.0 9.6 17.5
Non-restructuring impairment charges 0.0 0.0 0.0 0.0 64.5
Losses on divestiture   0.0   0.0 0.8
Opioid-related litigation settlement loss 0.0 0.0 125.0 0.0 125.0
Operating loss (144.2) (199.0) (122.6) (57.8) (129.2)
Interest expense 148.0 169.1 48.7 108.6 160.7
Interest income (1.3) (1.4) 0.0 (0.6) (1.9)
Other expense, net (5.1) 0.8 (3.5) (14.6) 15.9
Reorganization items, net (14.2) (17.7) (126.2) (630.9) (329.2)
Loss from continuing operations before income taxes (310.2) (383.6) (301.0) (811.3) (601.3)
Income tax benefit (24.9) (34.6) (32.0) (497.3) (81.9)
Loss from continuing operations (285.3) (349.0) (269.0) (314.0) (519.4)
Income from discontinued operations, net of income taxes 0.4 $ 0.4 5.3 $ 0.9 $ 6.0
Net loss $ (284.9)   $ (263.7)    
Basic (loss) income per share (Note 7):          
Loss from continuing operations $ (21.61) $ (26.44) $ (3.18) $ (3.70) $ (6.13)
Income from discontinued operations 0.03 0.03 0.06 0.01 0.07
Net loss $ (21.58) $ (26.41) $ (3.11) $ (3.69) $ (6.06)
Basic weighted-averaged shares outstanding (in shares) 13.2 13.2 84.7 84.8 84.7
Diluted (loss) income per share (Note 7):          
Loss from continuing operations $ (21.61) $ (26.44) $ (3.18) $ (3.70) $ (6.13)
Income from discontinued operations 0.03 0.03 0.06 0.01 0.07
Net loss $ (21.58) $ (26.41) $ (3.11) $ (3.69) $ (6.06)
Diluted weighted-average shares outstanding (in shares) 13.2 13.2 84.7 84.8 84.7
Retained Earnings (Deficit)          
Net loss $ (284.9) $ (348.6) $ (263.7) $ (313.1) $ (513.4)