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

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

2. Revenue from Contracts with Customers

Product Sales Revenue

See Note 13 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 (1)		Product Returns		Other Sales Deductions		Total
Balance as of December 31, 2021 (Predecessor)	$	241.8	$	21.5	$	9.5	$	272.8
Provisions	370.8		2.4		9.7		382.9
Payments or credits	(412.0)		(4.3)		(10.0)		(426.3)
Balance as of April 1, 2022 (Predecessor)	$	200.6	$	19.6	$	9.2	$	229.4
Balance as of December 30, 2022 (Successor)	$	265.3	$	16.0	$	12.7	$	294.0
Provisions	355.6		3.2		9.5		368.3
Payments or credits	(404.3)		(4.0)		(15.0)		(423.3)
Balance as of March 31, 2023 (Successor)	$	216.6	$	15.2	$	7.2	$	239.0

(1)Includes $58.9 million and $89.3 million of accrued Medicaid and $44.6 million and $55.3 million of accrued rebates as of March 31, 2023 (Successor) and December 30, 2022 (Successor), respectively, included within accrued and other current liabilities in the unaudited condensed consolidated balance sheets.

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

	Successor		Predecessor
	Three Months Ended March 31, 2023		Three Months Ended April 1, 2022
Product sales transferred at a point in time	80.2	%	79.5	%
Product sales transferred over time	19.8		20.5

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 March 31, 2023 (Successor):

Remainder of Fiscal 2023	$	56.6
Fiscal 2024	37.7
Fiscal 2025	13.2
Thereafter	0.2

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
	Three Months Ended March 31, 2023		Three Months Ended April 1, 2022
Royalty revenue	$	3.4	$	20.0