Restructuring and Related Charges (Tables)

9 Months Ended

Sep. 29, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Charges by Segment

Net restructuring and related charges by segment were as follows:

	Successor
	Three Months Ended September 29, 2023		Three Months Ended September 30, 2022
Specialty Generics	$	—	(0.2)
Corporate	(0.1)		2.4
Restructuring charges, net	$	(0.1)	$	2.2

	Successor				Predecessor
	Nine Months Ended September 29, 2023		Period from June 17, 2022 through September 30, 2022		Period from January 1, 2022  through June 16, 2022
Specialty Generics	$	—	$	(0.2)	$	3.5
Corporate	1.7		3.5		6.1
Restructuring and related charges, net	1.7		3.3		9.6
Less: accelerated depreciation	(0.8)		—		—
Restructuring charges, net	$	0.9	$	3.3	$	9.6

Schedule of Net Restructuring and Related Charges

Net restructuring and related charges by program were comprised of the following:

	Successor
	Three Months Ended September 29, 2023		Three Months Ended September 30, 2022
2018 Program	$	(0.1)	$	2.2
Less: non-cash charges, including accelerated depreciation	—		(0.7)
Total charges expected to be settled in cash	$	(0.1)	$	1.5

	Successor				Predecessor
	Nine Months Ended September 29, 2023		Period from June 17, 2022 through September 30, 2022		Period from January 1, 2022  through June 16, 2022
2018 Program	$	1.7	$	3.3	$	9.6
Less: non-cash charges, including accelerated depreciation	(0.8)		(0.9)		(3.6)
Total charges expected to be settled in cash	$	0.9	$	2.4	$	6.0

Schedule of Restructuring Reserves Reconciliation by Program

The following table summarizes cash activity for restructuring reserves for the 2018 Program, which primarily related to employee severance and benefits:

	2018 Program
Balance as of December 30, 2022 (Successor)	$	4.6
Charges from continuing operations	1.3
Changes in estimate from continuing operations	(0.4)
Cash payments	(5.4)
Balance as of September 29, 2023 (Successor)	$	0.1

Schedule of Restructuring Charges Incurred Cumulative to Date

As of September 29, 2023 (Successor), net restructuring and related charges incurred cumulative to date for the 2018 Program were as follows:

	Successor		Predecessor
Specialty Brands	$	—	$	3.1
Specialty Generics	0.8		18.5
Corporate	12.9		84.0
	$	13.7	$	105.6