Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following tables provide a summary of the significant assets and liabilities that are measured at fair value on a recurring basis at the end of each period:

	March 31, 2023 (Successor)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	38.2	$	26.1	$	12.1	$	—
Equity securities	10.3		10.3		—		—
Interest rate cap	14.9		—		14.9		—
	$	63.4	$	36.4	$	27.0	$	—
Liabilities:
Deferred compensation liabilities	$	19.0	$	—	$	19.0	$	—
Contingent consideration liabilities	7.7		—		—		7.7
	$	26.7	$	—	$	19.0	$	7.7

	December 30, 2022 (Predecessor)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	36.6	$	24.8	$	11.8	$	—
Equity securities	25.5		25.5		—		—
	$	62.1	$	50.3	$	11.8	$	—
Liabilities:
Deferred compensation liabilities	$	26.0	$	—	$	26.0	$	—
Contingent consideration liabilities	7.3		—		—		7.3
	$	33.3	$	—	$	26.0	$	7.3

Schedule of Carrying Amount and Fair Value of Long-term Debt

The following table presents the carrying values and estimated fair values of the Company's debt as of the end of each period:

	Successor
	March 31, 2023				December 30, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
Level 1:
10.00% first lien senior secured notes due April 2025	$	478.0	$	415.6	$	475.9	$	425.9
10.00% second lien senior secured notes due April 2025	249.8		222.1		242.2		216.8
11.50% first lien senior secured notes due December 2028	650.0		536.6		650.0		552.6
10.00% second lien senior secured notes due June 2029	179.8		192.0		175.5		176.7
Level 2:
2017 Replacement Term loan due September 2027	1,221.4		1,005.3		1,222.1		1,037.8
2018 Replacement Term loan due September 2027	326.6		262.6		326.9		274.8
Total Debt	$	3,105.6	$	2,634.2	$	3,092.6	$	2,684.6

Schedules of Concentration of Risk

The following table shows net sales attributable to distributors that accounted for 10.0% or more of the Company's total net sales:

	Successor		Predecessor
	Three Months Ended March 31, 2023		Three Months Ended April 1, 2022
FFF Enterprises, Inc.	18.8	%	*
CuraScript, Inc.	*		26.0	%

* Net sales to this distributor was less than 10.0% of the Company's total net sales for the respective periods presented above.

The following table shows accounts receivable attributable to distributors that accounted for 10.0% or more of the Company's gross accounts receivable at the end of each period:

	Successor
	March 31, 2023		December 30, 2022
AmerisourceBergen Corporation	26.1	%	23.3	%
McKesson Corporation	19.0		17.3
FFF Enterprises, Inc.	*		16.2

*Accounts receivable attributable to this distributor was less than 10.0% of total gross accounts receivable at the end of the respective period presented above.

The following table shows net sales attributable to products that accounted for 10.0% or more of the Company's total net sales:

	Successor		Predecessor
	Three Months Ended March 31, 2023		Three Months Ended April 1, 2022
INOmax	19.5	%	20.2	%
Acthar Gel	19.3		26.0
Therakos	13.8		12.2
APAP	10.9		*

*Net sales attributable to this product was less than 10.0% of total net sales for the respective period presented above.