EX-99.1 2 mnkexhibit991091024.htm EX-99.1 Document

EXHIBIT 99.1
MALLINCKRODT PLC
SPECIALTY GENERICS SEGMENT ADJUSTED EBITDA
(unaudited, in millions)
Three Months Ended June 28, 2024Three Months Ended March 29, 2024Three Months Ended December 29, 2023Three Months Ended September 29, 2023Three Months Ended June 30, 2023Three Months Ended March 31, 2023
Specialty Generics Adjusted EBITDA 1$94.6 $67.6 $46.1 $64.8 $46.1 $43.1 
MALLINCKRODT PLC
SEGMENT OPERATING INCOME TO ADJUSTED EBITDA RECONCILIATIONS
(unaudited, in millions)
Successor
Three Months Ended June 28, 2024Three Months Ended March 29, 2024
Specialty Generics Segment Operating Income per SEC Filings 2$62.4 $38.2 
Adjustments:
Fresh-start inventory-related expense32.1 29.3 
Other income, net 30.1 0.1 
Specialty Generics Adjusted EBITDA$94.6 $67.6 
MALLINCKRODT PLC
SEGMENT OPERATING INCOME TO ADJUSTED EBITDA RECONCILIATIONS - CONTINUED
(unaudited, in millions)
SuccessorPredecessorNon-GAAP Combined
Period from November 15, 2023 to December 29, 2023Period from September 30, 2023 to November 14, 2023Three Months Ended December 29, 2023
Specialty Generics Segment Operating Income per SEC Filings 2
$5.8 $24.3 $30.1 
Adjustments:
Fresh-start inventory-related expense16.1 — 16.1 
Other expense, net 3
— (0.1)(0.1)
Specialty Generics Adjusted EBITDA$21.9 $24.2 $46.1 
1 The supplemental financial information contains Adjusted EBITDA, which is considered a “Non-GAAP” financial measure under the applicable U.S. Securities and Exchange Commission’s rules and regulations, together with the reconciliation to the most directly comparable GAAP financial measure. Management strongly encourages readers to review the Company’s audited and unaudited condensed consolidated financial statements and publicly filed reports in their entirety.

2 As disclosed in the Company’s quarterly report on Form 10-Q for the three months ended June 28, 2024 (Successor), 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. Management believes that the segment operating income is the most directly comparable U.S. GAAP measure for the segment Adjusted EBITDA.

3 Excludes intercompany expense of $5.3 million, $3.7 million, $1.0 million, $24.4 million, $7.3 million, $2.7 million and $3.7 million for the three months ended June 28, 2024 (Successor), the three months ended March 29, 2024 (Successor), the period from November 15, 2023 to December 29, 2023 (Successor), the period from September 30, 2023 to November 14, 2023 (Predecessor), the three months ended September 29, 2023 (Predecessor), the three months ended June 30, 2023 (Predecessor) and the three months ended March 31, 2023 (Predecessor), respectively. These intercompany expenses primarily related to an allocation of corporate overhead costs to the Specialty Generics reportable segment.
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MALLINCKRODT PLC
SEGMENT OPERATING INCOME TO ADJUSTED EBITDA RECONCILIATIONS - CONTINUED
(unaudited, in millions)
Predecessor
Three Months Ended September 29, 2023Three Months Ended June 30, 2023Three Months Ended March 31, 2023
Specialty Generics Segment Operating Income per SEC Filings 2
$64.0 $35.1 $32.8 
Adjustments:
Fresh-start inventory-related expense0.7 11.0 10.3 
Other income, net 3
0.1 — — 
Specialty Generics Adjusted EBITDA$64.8 $46.1 $43.1 
MALLINCKRODT PLC
SELECT PRODUCT LINE NET SALES
(unaudited, in millions)
Successor
Three Months Ended June 28, 2024Three Months Ended March 29, 2024
Specialty Generics
Opioids$95.2 $81.9 
ADHD41.8 31.7 
Addiction treatment21.0 15.4 
Other3.6 1.5 
Generics161.6 130.5 
APAP47.3 51.7 
Controlled Substances26.4 22.9 
Other4.5 5.4 
API78.2 80.0 
Specialty Generics$239.8 $210.5 
MALLINCKRODT PLC
SELECT PRODUCT LINE NET SALES - CONTINUED
(unaudited, in millions)
SuccessorPredecessorNon-GAAP Combined
Period from November 15, 2023 to December 29, 2023Period from September 30, 2023 to November 14, 2023Three Months Ended December 29, 2023
Specialty Generics
Opioids$31.6 $30.5 $62.1 
ADHD13.5 18.5 32.0 
Addiction treatment10.5 8.8 19.3 
Other1.6 0.6 2.2 
Generics57.2 58.4 115.6 
APAP32.5 21.2 53.7 
Controlled substances11.6 14.1 25.7 
Other1.9 1.7 3.6 
API46.0 37.0 83.0 
Specialty Generics$103.2 $95.4 $198.6 
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MALLINCKRODT PLC
SELECT PRODUCT LINE NET SALES - CONTINUED
(unaudited, in millions)
Predecessor
Three Months Ended September 29, 2023Three Months Ended June 30, 2023Three Months Ended March 31, 2023
Specialty Generics
Opioids$65.9 $72.1 $62.2 
ADHD41.5 19.0 22.4 
Addiction treatment15.1 16.1 15.6 
Other3.4 2.4 1.8 
Generics125.9 109.6 102.0 
APAP57.4 59.8 46.4 
Controlled Substances22.0 20.9 18.5 
Other5.5 4.6 5.7 
API84.9 85.3 70.6 
Specialty Generics$210.8 $194.9 $172.6 

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