XML 78 R56.htm IDEA: XBRL DOCUMENT v3.22.4
Fresh-Start Accounting - Reorganization Adjustments (Details) - USD ($)
$ / shares in Units, $ in Millions
6 Months Ended 12 Months Ended
Jun. 16, 2022
Dec. 30, 2022
Jun. 16, 2022
Dec. 31, 2021
Dec. 25, 2020
Jul. 01, 2022
Dec. 27, 2019
Reorganization, Chapter 11 [Line Items]              
Cash and cash equivalents $ 297.9 $ 409.5 $ 297.9 $ 1,345.0 $ 1,070.6    
Debt instrument, face amount   3,534.1          
Issuance of external debt 650.0 0.0 650.0 0.0 0.0    
Acthar Gel-Related Settlement, Current 260.0   260.0        
Opioid-Related Settlement, Emergence Payment 447.4   447.4        
Opioid-Related Settlement, Gross Amount of Deferred Payment 1,275.0   1,275.0        
Opioid-Related Litigation Settlement liability, Current   200.0   0.0      
Opioid-Related Litigation Settlement liability, Non-current   379.9   0.0      
Liabilities Subject to Compromise   0.0   (6,397.7)      
Stock Issued During Period, Value, New Issues     2,189.7        
Adjustments to Additional Paid in Capital, Warrant Issued     (13.9)        
Shareholders' equity 2,203.6 $ 1,613.7 2,203.6 $ 313.4 1,019.2   $ 1,940.7
Share Price           $ 24.40  
Adjustments to Retained Deficit, Prepaid Success Fee $ (10.9)   (10.9)        
Cancellation of Predecessor equity     $ (0.5)        
Operating Lease, Weighted Average Discount Rate, Percent   11.90%   4.40%      
Class of Warrant or Right, Exercise Price of Warrants or Rights $ 103.40   $ 103.40        
Ordinary Shares              
Reorganization, Chapter 11 [Line Items]              
Stock Issued During Period, Value, New Issues     $ 0.1        
Shareholders' equity $ 0.1 $ 0.1 0.1 $ 18.9 18.8   $ 18.7
Cancellation of Predecessor equity     (18.9)        
StrataGraft PRV              
Reorganization, Chapter 11 [Line Items]              
Other Indefinite-lived Intangible Assets 100.0   100.0        
Long-term Debt [Member]              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise   0.0   (3,750.8)      
Opioid Claimant Trust [Member]              
Reorganization, Chapter 11 [Line Items]              
Opioid-related Settlement 1,725.0   1,725.0        
Receivables Financing Facility              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount 200.0   200.0        
Ten Point Zero Percent Second Lien Notes due 2029              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount   328.3          
Ten Point Zero Percent First Lien Notes [Member]              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount 495.0 495.0 495.0        
Eleven Point Five Percent First Lien Senior Secured Notes              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount   650.0          
2017 Replacement Term Loan              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount 1,392.9 1,374.1 1,392.9        
2018 Replacement Term Loan              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount 369.7 364.8 369.7        
Ten Point Zero Percent Second Lien Notes (New 2L Notes)              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount 322.9 321.9 322.9        
Reorganization, Chapter 11, Plan Effect Adjustment              
Reorganization, Chapter 11 [Line Items]              
Proceeds from Debt, Net of Issuance Costs 637.0            
Payment for Debt Extinguishment or Debt Prepayment Cost 900.0            
Upfront Payment of the Opioid-Related Litigation Settlement (447.4)            
Upfront Payment of the Acthar Gel-Related Settlement (17.8)            
Payment of Administrative, Priority and Trade Claims (26.2)            
Payment of Professional Fees (43.5)            
Payment to Fund Professional Fees Escrow (89.0)            
Payment of General Unsecured Claims (135.0)            
Payment of Noteholder Consent Fees (19.3)            
Payments for Other Fees (53.5)            
Reorganization Adjustments, Cashed Used (1,731.7)            
Cash and cash equivalents (1,094.7)   (1,094.7)        
Restricted Cash 89.0   89.0        
Prepaid Expense, Reorganization Adjustment 10.9            
Other Assets, Reorganization Adjustment 6.5            
Payments for Cure and Standard, Administrative and Priority Payments 25.2   25.2        
Payables due to Professional Advisor Success Fees 14.6   14.6        
Acthar Gel-Related Settlement, Current 16.5   16.5        
Acthar Gel-Related Settlement, Non-current 63.2   63.2        
Opioid-Related Litigation Settlement liability, Current 200.0   200.0        
Opioid-Related Litigation Settlement liability, Non-current 304.3   304.3        
Contingent consideration (41.8)   (41.8)        
Liabilities Subject to Compromise 6,402.7   6,402.7        
Liabilities, Reinstated (59.8)   (59.8)        
Stock Issued During Period, Value, New Issues (2,189.7)            
Adjustments to Additional Paid in Capital, Warrant Issued (13.9)            
Issuance of Takeback 2L Notes (190.2)   (190.2)        
Cash payments to settle amounts per the Plan (601.3)   (601.3)        
Total consideration provided to settle amounts per the Plan (5,399.2)   (5,399.2)        
Gain on settlement of liabilities subject to compromise 943.7 0.0 (943.7) 0.0 0.0    
Additional Paid in Capital, Common Stock 2,189.6   2,189.6        
Shareholders' equity $ 2,927.2   $ 2,927.2        
Share Price $ 18.50   $ 18.50        
Volatility, Black Scholes Model, Warrants 62.28%   62.28%        
Adjustment to Retained Deficit, Professional, Success and Exit Fees $ (91.6)   $ (91.6)        
Adjustments to Retained Deficit, Prepaid Insurance (9.2)   (9.2)        
Adjustment to Retained Deficit, Severance Accrual (5.7)   (5.7)        
Adjustment to Retained Deficit, Income Tax Expense on Plan Adjustments (102.7)   (102.7)        
Cancellation of Predecessor equity 4,002.3            
Reorganization Adjustments to Retained Deficit $ 4,725.9   $ 4,725.9        
Risk-Free Interest Rate, Black Scholes Model, Warrants 3.34%   3.34%        
Reorganization, Chapter 11, Plan Effect Adjustment | Ordinary Shares              
Reorganization, Chapter 11 [Line Items]              
Stock Issued During Period, Value, New Issues $ 0.1            
Reorganization, Chapter 11, Plan Effect Adjustment | StrataGraft PRV | General Unsecured Claims Trust              
Reorganization, Chapter 11 [Line Items]              
Contingent consideration 35.0   $ 35.0        
Reorganization, Chapter 11, Plan Effect Adjustment | StrataGraft CVR              
Reorganization, Chapter 11 [Line Items]              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability 6.8   6.8        
Reorganization, Chapter 11, Plan Effect Adjustment | Other current liabilities              
Reorganization, Chapter 11 [Line Items]              
Restructuring Reserve 5.7   5.7        
Reinstatement of various successor obligations from LSTC 15.4   15.4        
Success fees for professionals 29.7   29.7        
Accrued and Other Current Liabilities, Reorganization Adjustment 50.8   50.8        
Reorganization, Chapter 11, Plan Effect Adjustment | Other Noncurrent Liabilities              
Reorganization, Chapter 11 [Line Items]              
Asbestos-related defense cost accrual 16.8   16.8        
Reorganization, Chapter 11, Plan Effect Adjustment | Accounts Payable              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise (17.7)   (17.7)        
Liabilities, Reinstated (0.1)   (0.1)        
Reorganization, Chapter 11, Plan Effect Adjustment | Interest Payable, Current              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise (35.2)   (35.2)        
Reorganization, Chapter 11, Plan Effect Adjustment | Long-term Debt [Member]              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise (3,746.2)   (3,746.2)        
Liabilities, Reinstated (1,778.3)   (1,778.3)        
Reorganization, Chapter 11, Plan Effect Adjustment | Accrued Environmental Loss Contingencies              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise (67.2)   (67.2)        
Reorganization, Chapter 11, Plan Effect Adjustment | Acthar Gel-Related Settlement              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise (630.0)   (630.0)        
Liabilities, Reinstated (79.7)   (79.7)        
Reorganization, Chapter 11, Plan Effect Adjustment | Opioid-related litigation settlement liability              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise (1,722.4)   (1,722.4)        
Liabilities, Reinstated (504.3)   (504.3)        
Reorganization, Chapter 11, Plan Effect Adjustment | Other Liabilities              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise (151.6)   (151.6)        
Liabilities, Reinstated (27.3)   (27.3)        
Reorganization, Chapter 11, Plan Effect Adjustment | Liability, Defined Benefit Plan, Noncurrent              
Reorganization, Chapter 11 [Line Items]              
Liabilities Subject to Compromise (32.4)   (32.4)        
Liabilities, Reinstated (32.4)   (32.4)        
Reorganization, Chapter 11, Plan Effect Adjustment | Medicaid Lawsuit [Member]              
Reorganization, Chapter 11 [Line Items]              
Acthar Gel-Related Settlement, Gross Amount of Deferred Payments 245.0   245.0        
Acthar Gel-Related Settlement, Emergence Payment, net of Interest 17.8   17.8        
Reorganization, Chapter 11, Plan Effect Adjustment | Opioid Claimant Trust [Member]              
Reorganization, Chapter 11 [Line Items]              
Opioid-related Settlement $ 1,725.0   $ 1,725.0        
Reorganization, Chapter 11, Plan Effect Adjustment | Acthar Gel-Related Settlement              
Reorganization, Chapter 11 [Line Items]              
Discount Rate, Present Value of Future Cash Flows 27.80%   27.80%        
Reorganization, Chapter 11, Plan Effect Adjustment | Opioid-related litigation settlement liability              
Reorganization, Chapter 11 [Line Items]              
Discount Rate, Present Value of Future Cash Flows 27.80%   27.80%        
Reorganization, Chapter 11, Plan Effect Adjustment | Receivables Financing Facility              
Reorganization, Chapter 11 [Line Items]              
Payments of Debt Issuance Costs $ 2.6            
Reorganization, Chapter 11, Plan Effect Adjustment | 2017 and 2018 Replacement Term Loan              
Reorganization, Chapter 11 [Line Items]              
Debt, Current 34.7   $ 34.7        
Reorganization, Chapter 11, Plan Effect Adjustment | Ten Point Zero Percent Second Lien Notes due 2029              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount 375.0   375.0        
Reorganization Plan Adjustment (184.8)   (184.8)        
Reorganization, Chapter 11, Plan Effect Adjustment | Ten Point Zero Percent First Lien Notes [Member]              
Reorganization, Chapter 11 [Line Items]              
Debt Issuance Costs, Gross 5.1   5.1        
Reorganization, Chapter 11, Plan Effect Adjustment | Eleven Point Five Percent First Lien Senior Secured Notes | Original Issuance Discount              
Reorganization, Chapter 11 [Line Items]              
Debt Issuance Costs, Gross 13.0   13.0        
Reorganization, Chapter 11, Plan Effect Adjustment | Eleven Point Five Percent First Lien Senior Secured Notes | Deferred Debt Issuance Costs              
Reorganization, Chapter 11 [Line Items]              
Debt Issuance Costs, Gross 9.7   9.7        
Reorganization, Chapter 11, Plan Effect Adjustment | 2017 Replacement Term Loan              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount 1,392.9   1,392.9        
Reorganization Plan Adjustment (169.4)   (169.4)        
Reorganization, Chapter 11, Plan Effect Adjustment | 2018 Replacement Term Loan              
Reorganization, Chapter 11 [Line Items]              
Debt instrument, face amount 369.7   369.7        
Reorganization Plan Adjustment (42.2)   (42.2)        
Reorganization, Chapter 11, Plan Effect Adjustment | Ten Point Zero Percent Second Lien Notes (New 2L Notes)              
Reorganization, Chapter 11 [Line Items]              
Reorganization Plan Adjustment (95.7)   (95.7)        
Reorganization, Chapter 11, Plan Effect Adjustment | Debt              
Reorganization, Chapter 11 [Line Items]              
Reorganization Plan Adjustment (492.1)   (492.1)        
Reorganization, Chapter11, Post Adjustment, Successor              
Reorganization, Chapter 11 [Line Items]              
Cash and cash equivalents 297.9   297.9        
Acthar Gel-Related Settlement, Current 16.5   16.5        
Acthar Gel-Related Settlement, Non-current 63.2   63.2        
Opioid-Related Litigation Settlement liability, Current 200.0   200.0        
Opioid-Related Litigation Settlement liability, Non-current 304.3   304.3        
Liabilities Subject to Compromise 0.0   0.0        
Shareholders' equity 2,203.6   2,203.6        
Reorganization, Chapter 11, Fresh-Start Adjustment              
Reorganization, Chapter 11 [Line Items]              
Cash and cash equivalents 0.0   0.0        
Acthar Gel-Related Settlement, Current 0.0   0.0        
Acthar Gel-Related Settlement, Non-current 0.0   0.0        
Opioid-Related Litigation Settlement liability, Current 0.0   0.0        
Opioid-Related Litigation Settlement liability, Non-current 0.0   0.0        
Liabilities Subject to Compromise 0.0   0.0        
Shareholders' equity (772.5)   (772.5)        
Fresh-Start Adjustment, Spare Parts 3.9   3.9        
Fresh-Start Adjustments, Debt Issuance Costs 1.1   1.1        
Fresh-Start Adjustments, Income Tax Receivables $ 0.9   $ 0.9        
Operating Lease, Weighted Average Discount Rate, Percent 11.83%   11.83%        
Fresh-Start Adjustments, Right-of-Use Assets $ 1.6   $ 1.6        
Fresh-Start Adjustments, Asbestos-Related Defense Costs, Current 6.1   6.1        
Fresh-Start Adjustments, Asbestos-Related Defense Costs, Non-Current 16.7   16.7        
Fresh-Start Adjustments, Lease Liabilities 6.9   6.9        
Fresh-Start Adjustments, Unamortized Debt Issuance Costs 5.1   5.1        
Fresh-Start Adjustments, Debt, Fair Value 23.5   23.5        
Adjustment to Retained Deficit, Inventory 851.8   851.8        
Adjustment to Retained Deficit, Property, Plant and Equipment (299.2)   (299.2)        
Fresh-Start Adjustments, Intangible assets, net (2,014.4)   (2,014.4)        
Adjustments to Retained Deficit, Current Asset Held for Sale 100.0   100.0        
Adjustment to Retained Deficit, Debt 18.4   18.4        
Adjustment to Retained Deficit, Other Assets and Liabilities (11.2)   (11.2)        
Reorganization Items, net, Loss on Fresh-Start Adjustments (1,354.6) $ 0.0 1,354.6 $ 0.0 $ 0.0    
Fresh-Start Adjustments, Accumulated Other Comprehensive Income (9.9)   (9.9)        
Fresh-Start Adjustments, Income Tax Benefit 582.1   582.1        
Fresh-Start Adjustment, Accumulated Retained Deficit (782.4)   (782.4)        
Fresh-Start Adjustment, Prepaid Income Taxes 54.0   54.0        
Reorganization, Chapter 11, Fresh-Start Adjustment | Indemnification Receivable, Current              
Reorganization, Chapter 11 [Line Items]              
Change in Accounting Policy, Fresh-Start $ 4.3   $ 4.3        
Reorganization, Chapter 11, Fresh-Start Adjustment | Finite-Lived Intangible Assets | Minimum              
Reorganization, Chapter 11 [Line Items]              
Discount Rate, Present Value of Future Cash Flows 13.00%   13.00%        
Reorganization, Chapter 11, Fresh-Start Adjustment | Finite-Lived Intangible Assets | Maximum              
Reorganization, Chapter 11 [Line Items]              
Discount Rate, Present Value of Future Cash Flows 15.00%   15.00%        
Reorganization, Chapter 11, Fresh-Start Adjustment | Indemnification Receivable, Non-Current              
Reorganization, Chapter 11 [Line Items]              
Change in Accounting Policy, Fresh-Start $ 16.0   $ 16.0        
Reorganization, Chapter 11, Fresh-Start Adjustment | Accumulated Other Comprehensive (Loss) Income              
Reorganization, Chapter 11 [Line Items]              
Fresh-Start Adjustments, AOCI, Income Tax Effects 0.3   0.3        
Fresh-Start Adjustments, AOCI, Pension Benefits 8.1   8.1        
Fresh-Start Adjustments, AOCI, CTA 2.1   2.1        
Reorganization, Chapter 11, Predecessor, before Adjustment              
Reorganization, Chapter 11 [Line Items]              
Cash and cash equivalents 1,392.6   1,392.6        
Acthar Gel-Related Settlement, Current 0.0   0.0        
Acthar Gel-Related Settlement, Non-current 0.0   0.0        
Opioid-Related Litigation Settlement liability, Current 0.0   0.0        
Opioid-Related Litigation Settlement liability, Non-current 0.0   0.0        
Liabilities Subject to Compromise (6,402.7)   (6,402.7)        
Shareholders' equity $ 48.9   $ 48.9        
Operating Lease, Weighted Average Discount Rate, Percent 8.85%   8.85%