Leases (Notes)

12 Months Ended

Dec. 29, 2023

Leases [Abstract]

Lessee, Operating Leases

11. Leases

Lease assets and liabilities related to the Company's operating leases are reported in the following consolidated balance sheet captions:

	Successor		Predecessor
	December 29, 2023		December 30, 2022
Other assets	$	50.9	$	38.1
Accrued and other current liabilities	$	10.5	$	10.3
Other liabilities	44.8		30.4
Total lease liabilities	$	55.3	$	40.7

Dependent on the nature of the leased asset, lease expense is included within cost of sales or SG&A. The primary components of lease expense were as follows:

	Successor		Predecessor
	Period from November 15, 2023 through December 29, 2023		Period from December 31, 2022 through November 14, 2023		Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021
Lease cost:
Operating lease cost	$	1.8	$	15.0	$	7.9	$	8.7	$	19.6
Short-term lease cost	0.5		0.9		1.6		0.4		1.1
Variable lease cost	—		2.3		1.5		1.2		2.4
Total lease cost	$	2.3	$	18.2	$	11.0	$	10.3	$	23.1

Lease terms and discount rates were as follows:

	Successor		Predecessor
	December 29, 2023		December 30, 2022
Weighted-average remaining lease term (in years) - operating lease	7.4		6.7
Weighted-average discount rate - operating leases	8.1	%	11.9	%

Contractual maturities of operating lease liabilities as of December 29, 2023 (Successor) were as follows:

Fiscal 2024	$	14.4
Fiscal 2025	13.2
Fiscal 2026	8.9
Fiscal 2027	6.9
Fiscal 2028	6.6
Thereafter	24.7
Total lease payments	74.7
Less: Interest	(19.4)
Present value of lease liabilities	$	55.3

Other supplemental cash flow information related to leases were as follows:

	Successor		Predecessor
	Period from November 15, 2023 through December 29, 2023		Period from December 31, 2022 through November 14, 2023		Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2.4	$	14.6	$	9.2	$	9.4	$	20.4
Lease assets obtained in exchange for lease obligations:
Operating leases	—		13.2		7.1		13.4		2.6