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Segment Data
 9 Months Ended
Sep. 29, 2023
Segment Reporting [Abstract]  
Segment Data
14.
Segment Data
The Company operates in two reportable segments, which are further described below:
•Specialty Brands includes innovative specialty pharmaceutical brands; and
•Specialty Generics includes niche specialty generic drugs and APIs.
Management measures and evaluates the Company's operating segments based on segment net sales and operating income. Management excludes corporate expenses from segment operating income. In addition, certain amounts that management considers to be non-recurring or non-operational are excluded from segment operating income because management and the chief operating decision maker evaluate the operating results of the segments excluding such items. These items may include, but are not limited to, depreciation and amortization, share-based compensation, net restructuring charges, non-restructuring impairment charges and liabilities management and separation costs. Although these amounts are excluded from segment operating income, as applicable, they are included in reported consolidated operating loss and are reflected in the reconciliations presented below.
Selected information by reportable segment was as follows:
Successor
Three Months
Ended
September 29, 2023		Three Months
Ended
September 30, 2022
Net sales:
Specialty Brands$286.2 $303.5 
Specialty Generics210.8 161.9 
Net sales$497.0 $465.4 
Operating income (loss):
Specialty Brands$87.6 $43.7 
Specialty Generics64.0 (9.0)
Segment operating income
151.6 34.7 
Unallocated amounts:
Corporate and unallocated expenses (1)
(16.3)(15.0)
Depreciation and amortization(137.0)(148.5)
Share-based compensation(2.4)(0.5)
Restructuring charges, net0.1 (2.2)
Non-restructuring impairment charges(135.9)— 
Liabilities management and separation costs (2)
(142.1)(6.9)
Bad debt expense - customer bankruptcy— (5.8)
Operating loss$(282.0)$(144.2)
(1)Includes administration expenses and certain compensation, legal, environmental and other costs not charged to the Company's reportable segments.
(2)Represents costs primarily related to professional fees incurred by the Company (including where the Company is responsible for the fees of third parties) in connection with its evaluation of its financial situation and related discussions with its stakeholders prior to the commencement of the 2023 Chapter 11 Cases, expenses incurred related to the severance of certain former executives of the Predecessor, in addition to professional fees and costs incurred as the Company explores potential sales of non-core assets to enable further deleveraging post-emergence from the 2020 Chapter 11 Cases. As of the Petition Date, professional fees directly related to the 2023 Chapter 11 Cases that were previously reflected as liabilities management and separation costs are being classified on a go-forward basis as reorganization items, net.

SuccessorPredecessor
Nine Months
Ended
September 29, 2023		Period from
June 17, 2022
through
September 30, 2022		Period from
January 1, 2022
 through
June 16, 2022
Net sales:
Specialty Brands$818.3 $361.7 $587.1 
Specialty Generics578.3 188.7 287.5 
Net sales$1,396.6 $550.4 $874.6 
Operating income (loss):
Specialty Brands$181.6 $48.2 $267.2 
Specialty Generics131.9 (8.7)65.3 
Segment operating income
313.5 39.5 332.5 
Unallocated amounts:
Corporate and unallocated expenses (1)
(29.7)(15.9)(48.2)
Depreciation and amortization(423.2)(196.9)(321.8)
Share-based compensation(7.7)(0.5)(1.7)
Restructuring charges, net(0.9)(3.3)(9.6)
Non-restructuring impairment charges(135.9)— — 
Liabilities management and separation costs (2)
(157.3)(16.1)(9.0)
Bad debt expense - customer bankruptcy— (5.8)— 
Operating loss$(441.2)$(199.0)$(57.8)
(1)Includes administration expenses and certain compensation, legal, environmental and other costs not charged to the Company's reportable segments.
(2)Represents costs primarily related to professional fees incurred by the Company (including where the Company is responsible for the fees of third parties) in connection with its evaluation of its financial situation and related discussions with its stakeholders prior to the commencement of the 2023 Chapter 11 Cases, expenses incurred related to the Predecessor directors' and officers' insurance policies and severance for the former CEO and certain former executives of the Predecessor, in addition to professional fees and costs incurred as the Company explores potential sales of non-core assets to
enable further deleveraging post-emergence from the 2020 Chapter 11 Cases. As of the Petition Date, professional fees directly related to the 2023 Chapter 11 Cases that were previously reflected as liabilities management and separation costs are being classified on a go-forward basis as reorganization items, net.

Net sales by product family within the Company's reportable segments were as follows:
Successor
Three Months
Ended
September 29, 2023		Three Months
Ended
September 30, 2022
Acthar Gel$122.1 $125.7 
INOmax72.9 80.7 
Therakos66.0 58.0 
Amitiza (1)
18.3 37.1 
Terlivaz4.4 — 
Other2.5 2.0 
Specialty Brands286.2 303.5 
Opioids65.9 46.5 
ADHD41.5 11.6 
Addiction treatment15.1 16.6 
Other3.4 2.9 
Generics125.9 77.6 
Controlled substances22.0 19.7 
APAP57.4 57.9 
Other5.5 6.7 
API84.9 84.3 
Specialty Generics210.8 161.9 
Net sales$497.0 $465.4 
(1)Amitiza consists of both product net sales and royalties. Refer to Note 3 for further details on Amitiza's revenues.

SuccessorPredecessor
Nine Months
Ended
September 29, 2023		Period from
June 17, 2022
through
September 30, 2022		Period from
January 1, 2022
 through
June 16, 2022
Acthar Gel$320.9 $153.2 $221.9 
INOmax232.5 94.2 165.8 
Therakos187.6 68.2 109.6 
Amitiza (1)
61.4 42.9 81.5 
Terlivaz10.0 — — 
Other5.9 3.2 8.3 
Specialty Brands818.3 361.7 587.1 
Opioids200.2 55.2 88.8 
ADHD82.9 13.4 17.5 
Addiction treatment46.8 19.1 30.0 
Other7.6 3.0 4.9 
Generics337.5 90.7 141.2 
Controlled substances61.4 21.4 37.6 
APAP163.6 69.2 96.5 
Other15.8 7.4 12.2 
API240.8 98.0 146.3 
Specialty Generics578.3 188.7 287.5 
Net sales$1,396.6 $550.4 $874.6