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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Jun. 28, 2024
Jun. 30, 2023
Net sales $ 514.3 $ 475.0 $ 982.1 $ 899.6
Cost of sales 319.3 370.1 623.1 744.9
Gross profit 195.0 104.9 359.0 154.7
Selling, general and administrative expenses 127.9 122.4 264.8 240.4
Research and development expenses 29.2 29.0 57.1 57.3
Restructuring charges, net 0.2 (0.2) 10.4 1.0
Separation Costs 10.3 10.3 17.0 15.2
Operating income (loss) 27.4 (56.6) 9.7 (159.2)
Interest expense 59.4 162.6 118.5 324.6
Interest income (6.0) (4.7) (12.8) (9.4)
Other expense, net (3.5) (1.2) 0.2 (15.8)
Reorganization items, net 0.0 (4.0) 0.0 (9.6)
Loss from continuing operations before income taxes (29.5) (219.7) (95.8) (499.8)
Income tax expense 13.9 528.1 13.2 497.3
Loss from continuing operations (43.4) (747.8) (109.0) (997.1)
Income from discontinued operations, net of income taxes 0.1 0.0 $ 0.3 $ 0.0
Net loss $ (43.3) $ (747.8)    
Basic (loss) income per share (Note 6):        
Loss from continuing operations $ (2.20) $ (56.74) $ (5.53) $ (75.68)
Income from discontinued operations 0.01 0 0.02 0
Net loss $ (2.20) $ (56.74) $ (5.52) $ (75.68)
Basic weighted-averaged shares outstanding (in shares) 19.7 13,200,000 19,700,000 13,200,000
Diluted (loss) income per share (Note 6):        
Loss from continuing operations $ (2.20) $ (56.74) $ (5.53) $ (75.68)
Income from discontinued operations 0.01 0 0.02 0
Net loss $ (2.20) $ (56.74) $ (5.52) $ (75.68)
Diluted weighted-average shares outstanding (in shares)   13,200,000 19,700,000 13,200,000
Retained Earnings (Deficit)        
Net loss $ (43.3) $ (747.8) $ (108.7) $ (997.1)