XML 66 R52.htm IDEA: XBRL DOCUMENT v3.24.1
Fresh-Start Accounting - Condensed Consolidated Balance Sheet (Details) - USD ($)
$ in Millions
6 Months Ended 11 Months Ended
Nov. 14, 2023
Jun. 16, 2022
Jun. 16, 2022
Nov. 14, 2023
Dec. 29, 2023
Jun. 16, 2023
Dec. 30, 2022
Dec. 31, 2021
Dec. 25, 2020
Reorganization, Chapter 11 [Line Items]                  
Cash and cash equivalents $ 186.7 $ 297.9 $ 297.9 $ 186.7 $ 262.7   $ 409.5 $ 1,345.0  
Accounts receivable, less allowance for doubtful accounts of $6.5 and $4.4         377.5   405.3    
Inventory, Net         982.7   947.6    
Total current assets         1,761.8   2,035.8    
Property, plant and equipment, net         321.7   457.6    
Intangible Assets, Net (Excluding Goodwill)         608.4   2,843.8    
Other assets         240.7   201.1    
Assets         3,733.6   6,013.8    
Current maturities of long-term debt         6.5   44.1    
Accounts Payable, Current         100.4   114.0    
Accrued payroll and payroll-related costs         82.8   49.5    
Accrued interest         20.1   29.0    
Opioid-Related Litigation Settlement liability         0.0   200.0    
Accrued and other current liabilities         269.9   290.7    
Total current liabilities         501.2   743.8    
Long-term debt         1,755.9   3,027.7    
Opioid-Related Litigation Settlement liability         0.0   379.9    
Pension and postretirement benefits         40.6   41.0    
Environmental liabilities         35.1   35.8    
Deferred income taxes         97.3   224.4    
Other income tax liabilities         19.6   18.2    
Other Liabilities, Noncurrent         92.5   78.7    
Acthar Gel-Related Settlement liability         128.5   75.0    
Liabilities         2,573.4   4,400.1    
Additional paid-in capital         1,194.6   2,191.0    
Accumulated Other Comprehensive Income (Loss), Net of Tax         3.6   10.8    
Retained deficit         (38.2)   (588.2)    
Shareholders' equity 1,194.8 2,203.6 2,203.6 1,194.8 1,160.2   1,613.7 $ 313.4 $ 1,019.2
Total Liabilities and Shareholders' Equity         3,733.6   6,013.8    
Cancellation of Predecessor equity     (0.5) 9.2          
Opioid Claimant Trust [Member]                  
Reorganization, Chapter 11 [Line Items]                  
Opioid-Related Settlement, Payment Year One and Two   200.0 200.0            
Reorganization, Chapter 11, Predecessor, before Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Cash and cash equivalents 314.1 1,392.6 1,392.6 314.1          
Accounts receivable, less allowance for doubtful accounts of $6.5 and $4.4 467.7 387.4 387.4 467.7          
Inventory, Net 778.7 375.2 375.2 778.7          
Prepaid Expense and Other Assets, Current 149.3 322.6 322.6 149.3          
Assets Held-for-sale, Not Part of Disposal Group, Current   0.0 0.0            
Total current assets 1,709.8 2,477.8 2,477.8 1,709.8          
Property, plant and equipment, net 468.6 748.6 748.6 468.6          
Intangible Assets, Net (Excluding Goodwill) 2,258.3 5,166.6 5,166.6 2,258.3          
Deferred Tax Assets, Net 0.0 0.0 0.0 0.0          
Other assets 222.9 222.8 222.8 222.9          
Assets 4,659.6 8,615.8 8,615.8 4,659.6          
Current maturities of long-term debt 378.7 1,389.9 1,389.9 378.7          
Accounts Payable, Current 93.2 156.4 156.4 93.2          
Accrued payroll and payroll-related costs 81.6 71.4 71.4 81.6          
Accrued interest 32.2 20.8 20.8 32.2          
Taxes Payable 2.7     2.7          
Acthar Gel-Related Settlement, Current 0.0 0.0 0.0 0.0          
Opioid-Related Litigation Settlement liability   0.0 0.0            
Accrued and other current liabilities 222.1 296.1 296.1 222.1          
Liabilities Held-for-Sales, Not Part of Disposal Group, Current   0.0 0.0            
Total current liabilities 810.5 1,934.6 1,934.6 810.5          
Long-term debt 0.0 0.0 0.0 0.0          
Opioid-Related Litigation Settlement liability   0.0 0.0            
Pension and postretirement benefits 39.4 27.6 27.6 39.4          
Environmental liabilities 34.6 37.1 37.1 34.6          
Deferred income taxes 1.3 20.4 20.4 1.3          
Other income tax liabilities 19.6 75.9 75.9 19.6          
Other Liabilities, Noncurrent 65.9 68.6 68.6 65.9          
Acthar Gel-Related Settlement liability 0.0 0.0 0.0 0.0          
Liabilities subject to compromise 4,932.1 6,402.7 6,402.7 4,932.1          
Liabilities 5,903.4 8,566.9 8,566.9 5,903.4          
Preferred Stock, Value, Outstanding   0.0 0.0            
Common Stock, Other Value, Outstanding   0.0 0.0            
Successor ordinary shares held in treasury at cost, none and none (0.1) (1,616.1) (1,616.1) (0.1)          
Accumulated Other Comprehensive Income (Loss), Net of Tax 10.4 (9.9) (9.9) 10.4          
Retained deficit (3,454.1) (3,943.5) (3,943.5) (3,454.1)          
Shareholders' equity (1,243.8) 48.9 48.9 (1,243.8)          
Total Liabilities and Shareholders' Equity 4,659.6 8,615.8 8,615.8 4,659.6          
Reorganization, Chapter 11, Plan Effect Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Cash and cash equivalents (127.3) (1,094.7) (1,094.7) (127.3)   $ (1,094.7)      
Accounts receivable, less allowance for doubtful accounts of $6.5 and $4.4 0.0 0.0 0.0 0.0          
Inventory, Net 0.0 0.0 0.0 0.0          
Prepaid Expense and Other Assets, Current 6.4 75.3 75.3 6.4          
Assets Held-for-sale, Not Part of Disposal Group, Current   0.0 0.0            
Total current assets (120.9) (1,019.4) (1,019.4) (120.9)          
Property, plant and equipment, net 0.0 0.0 0.0 0.0          
Intangible Assets, Net (Excluding Goodwill) 0.0 0.0 0.0 0.0          
Deferred Tax Assets, Net 586.6 0.0 0.0 586.6          
Other assets (2.4) (3.9) (3.9) (2.4)          
Assets 463.3 (1,023.3) (1,023.3) 463.3          
Current maturities of long-term debt (370.0) (1,355.2) (1,355.2) (370.0)          
Accounts Payable, Current (19.4) (53.8) (53.8) (19.4)          
Accrued payroll and payroll-related costs 0.0 0.0 0.0 0.0          
Accrued interest (31.5) (13.0) (13.0) (31.5)          
Taxes Payable 0.0     0.0          
Acthar Gel-Related Settlement, Current 21.4 16.5 16.5 21.4          
Opioid-Related Litigation Settlement liability   200.0 200.0            
Accrued and other current liabilities 31.6 50.8 50.8 31.6          
Liabilities Held-for-Sales, Not Part of Disposal Group, Current   35.0 35.0            
Total current liabilities (367.9) (1,119.7) (1,119.7) (367.9)          
Long-term debt 1,858.9 3,050.9 3,050.9 1,858.9          
Opioid-Related Litigation Settlement liability   304.3 304.3            
Pension and postretirement benefits 0.0 27.2 27.2 0.0          
Environmental liabilities 0.0 0.0 0.0 0.0          
Deferred income taxes 0.0 102.7 102.7 0.0          
Other income tax liabilities 0.0 0.0 0.0 0.0          
Other Liabilities, Noncurrent 7.5 23.6 23.6 7.5          
Acthar Gel-Related Settlement liability 214.7 63.2 63.2 214.7          
Liabilities subject to compromise (4,932.1) (6,402.7) (6,402.7) (4,932.1)          
Liabilities (3,218.9) (3,950.5) (3,950.5) (3,218.9)          
Successor ordinary shares held in treasury at cost, none and none 0.1 1,616.1 1,616.1 0.1          
Additional paid-in capital 1,194.6     1,194.6          
Accumulated Other Comprehensive Income (Loss), Net of Tax 0.7 0.0 0.0 0.7          
Retained deficit 4,686.6 4,725.9 4,725.9 4,686.6          
Shareholders' equity 3,682.2 2,927.2 2,927.2 3,682.2          
Total Liabilities and Shareholders' Equity 463.3 (1,023.3) (1,023.3) 463.3          
Cancellation of Predecessor equity 2,199.9 4,002.3              
Derivative Liability, Current 7.6     7.6          
Reorganization, Chapter 11, Fresh-Start Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Cash and cash equivalents 0.0 0.0 0.0 0.0          
Accounts receivable, less allowance for doubtful accounts of $6.5 and $4.4 0.0 0.0 0.0 0.0          
Inventory, Net 257.6 851.8 851.8 257.6          
Prepaid Expense and Other Assets, Current (0.7) (58.3) (58.3) (0.7)          
Assets Held-for-sale, Not Part of Disposal Group, Current   100.0 100.0            
Total current assets 256.9 893.5 893.5 256.9          
Property, plant and equipment, net (150.2) (299.2) (299.2) (150.2)          
Intangible Assets, Net (Excluding Goodwill) (1,633.7) (2,014.4) (2,014.4) (1,633.7)          
Deferred Tax Assets, Net 208.5 453.4 453.4 208.5          
Other assets 12.5 (23.5) (23.5) 12.5          
Assets (1,306.0) (990.2) (990.2) (1,306.0)          
Current maturities of long-term debt 0.0 0.0 0.0 0.0          
Accounts Payable, Current 0.0 0.0 0.0 0.0          
Accrued payroll and payroll-related costs 0.0 0.0 0.0 0.0          
Accrued interest 0.0 0.0 0.0 0.0          
Taxes Payable 0.0     0.0          
Acthar Gel-Related Settlement, Current 0.0 0.0 0.0 0.0          
Opioid-Related Litigation Settlement liability   0.0 0.0            
Accrued and other current liabilities (0.1) (6.1) (6.1) (0.1)          
Liabilities Held-for-Sales, Not Part of Disposal Group, Current   0.0 0.0            
Total current liabilities (0.1) (6.1) (6.1) (0.1)          
Long-term debt 0.0 (18.4) (18.4) 0.0          
Opioid-Related Litigation Settlement liability   0.0 0.0            
Pension and postretirement benefits 0.0 0.0 0.0 0.0          
Environmental liabilities 0.0 0.0 0.0 0.0          
Deferred income taxes (1.3) (121.7) (121.7) (1.3)          
Other income tax liabilities 0.0 (61.9) (61.9) 0.0          
Other Liabilities, Noncurrent 27.6 (9.6) (9.6) 27.6          
Acthar Gel-Related Settlement liability (88.6) 0.0 0.0 (88.6)          
Liabilities subject to compromise 0.0 0.0 0.0 0.0          
Liabilities (62.4) (217.7) (217.7) (62.4)          
Preferred Stock, Value, Outstanding   0.0 0.0            
Common Stock, Other Value, Outstanding   0.0 0.0            
Successor ordinary shares held in treasury at cost, none and none 0.0 0.0 0.0 0.0          
Additional paid-in capital 0.0     0.0          
Accumulated Other Comprehensive Income (Loss), Net of Tax (11.1) 9.9 9.9 (11.1)          
Retained deficit (1,232.5) (782.4) (782.4) (1,232.5)          
Shareholders' equity (1,243.6) (772.5) (772.5) (1,243.6)          
Total Liabilities and Shareholders' Equity (1,306.0) (990.2) (990.2) (1,306.0)          
Reorganization, Chapter11, Post Adjustment, Successor                  
Reorganization, Chapter 11 [Line Items]                  
Cash and cash equivalents 186.8 297.9 297.9 186.8          
Accounts receivable, less allowance for doubtful accounts of $6.5 and $4.4 467.7 387.4 387.4 467.7          
Inventory, Net 1,036.3 1,227.0 1,227.0 1,036.3          
Prepaid Expense and Other Assets, Current 155.0 339.6 339.6 155.0          
Assets Held-for-sale, Not Part of Disposal Group, Current   100.0 100.0            
Total current assets 1,845.8 2,351.9 2,351.9 1,845.8          
Property, plant and equipment, net 318.4 449.4 449.4 318.4          
Intangible Assets, Net (Excluding Goodwill) 624.6 3,152.2 3,152.2 624.6          
Deferred Tax Assets, Net 795.1 453.4 453.4 795.1          
Other assets 233.0 195.4 195.4 233.0          
Assets 3,816.9 6,602.3 6,602.3 3,816.9          
Current maturities of long-term debt 8.7 34.7 34.7 8.7          
Accounts Payable, Current 73.8 102.6 102.6 73.8          
Accrued payroll and payroll-related costs 81.6 71.4 71.4 81.6          
Accrued interest 0.7 7.8 7.8 0.7          
Taxes Payable 2.7     2.7          
Acthar Gel-Related Settlement, Current 21.4 16.5 16.5 21.4          
Opioid-Related Litigation Settlement liability   200.0 200.0            
Accrued and other current liabilities 253.6 340.8 340.8 253.6          
Liabilities Held-for-Sales, Not Part of Disposal Group, Current   35.0 35.0            
Total current liabilities 442.5 808.8 808.8 442.5          
Long-term debt 1,858.9 3,032.5 3,032.5 1,858.9          
Opioid-Related Litigation Settlement liability   304.3 304.3            
Pension and postretirement benefits 39.4 54.8 54.8 39.4          
Environmental liabilities 34.6 37.1 37.1 34.6          
Deferred income taxes 0.0 1.4 1.4 0.0          
Other income tax liabilities 19.6 14.0 14.0 19.6          
Other Liabilities, Noncurrent 101.0 82.6 82.6 101.0          
Acthar Gel-Related Settlement liability 126.1 63.2 63.2 126.1          
Liabilities subject to compromise 0.0 0.0 0.0 0.0          
Liabilities 2,622.1 4,398.7 4,398.7 2,622.1          
Preferred Stock, Value, Outstanding   0.0 0.0            
Common Stock, Other Value, Outstanding   0.0 0.0            
Successor ordinary shares held in treasury at cost, none and none 0.0 0.0 0.0 0.0          
Additional paid-in capital 1,194.6     1,194.6          
Accumulated Other Comprehensive Income (Loss), Net of Tax 0.0 0.0 0.0 0.0          
Retained deficit 0.0 0.0 0.0 0.0          
Shareholders' equity 1,194.8 2,203.6 2,203.6 1,194.8          
Total Liabilities and Shareholders' Equity 3,816.9 6,602.3 6,602.3 3,816.9          
Predecessor Reorganization                  
Reorganization, Chapter 11 [Line Items]                  
Preferred Stock, Value, Outstanding         0.0   0.0    
Common Stock, Other Value, Outstanding         0.0   0.0    
Common Stock, Value, Outstanding         $ 0.0   $ 0.1    
Predecessor Reorganization | Reorganization, Chapter 11, Predecessor, before Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Common Stock, Value, Outstanding 0.1 18.9 18.9 0.1          
Additional paid-in capital 2,199.9 5,599.5 5,599.5 2,199.9          
Predecessor Reorganization | Reorganization, Chapter 11, Plan Effect Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Preferred Stock, Value, Outstanding   0.0 0.0            
Common Stock, Other Value, Outstanding   0.0 0.0            
Common Stock, Value, Outstanding (0.1) (18.9) (18.9) (0.1)          
Additional paid-in capital   (5,599.5) (5,599.5)            
Predecessor Reorganization | Reorganization, Chapter 11, Fresh-Start Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Common Stock, Value, Outstanding 0.0 0.0 0.0 0.0          
Additional paid-in capital   0.0 0.0            
Predecessor Reorganization | Reorganization, Chapter11, Post Adjustment, Successor                  
Reorganization, Chapter 11 [Line Items]                  
Common Stock, Value, Outstanding 0.0 0.0 0.0 0.0          
Additional paid-in capital   0.0 0.0            
Successor, Fresh-Start Adjustments | Reorganization, Chapter 11, Predecessor, before Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Common Stock, Value, Outstanding 0.0 0.0 0.0 0.0          
Additional paid-in capital 0.0 0.0 0.0 0.0          
Successor, Fresh-Start Adjustments | Reorganization, Chapter 11, Plan Effect Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Common Stock, Value, Outstanding 0.2 0.1 0.1 0.2          
Additional paid-in capital (2,199.9) 2,203.5 2,203.5 (2,199.9)          
Successor, Fresh-Start Adjustments | Reorganization, Chapter 11, Fresh-Start Adjustment                  
Reorganization, Chapter 11 [Line Items]                  
Common Stock, Value, Outstanding 0.0 0.0 0.0 0.0          
Additional paid-in capital 0.0 0.0 0.0 0.0          
Successor, Fresh-Start Adjustments | Reorganization, Chapter11, Post Adjustment, Successor                  
Reorganization, Chapter 11 [Line Items]                  
Common Stock, Value, Outstanding 0.2 0.1 0.1 0.2          
Additional paid-in capital $ 0.0 $ 2,203.5 $ 2,203.5 $ 0.0