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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 27, 2024
Sep. 29, 2023
Sep. 27, 2024
Sep. 29, 2023
Net sales $ 505.5 $ 497.0 $ 1,487.6 $ 1,396.6
Cost of sales 284.4 346.2 907.5 1,091.1
Gross profit 221.1 150.8 580.1 305.5
Selling, general and administrative expenses 141.2 129.2 406.0 369.6
Research and development expenses 28.2 25.7 85.3 83.0
Restructuring charges, net 0.1 (0.1) 10.5 0.9
Separation Costs 15.2 142.1 32.2 157.3
Operating income (loss) 36.4 (282.0) 46.1 (441.2)
Interest expense 59.0 133.1 177.5 457.7
Interest income (7.4) (3.4) (20.2) (12.8)
Other (expense) income, net (3.8) 9.1 (3.6) (6.7)
Reorganization items, net 0.0 (1,311.5) 0.0 (1,321.1)
Loss from continuing operations before income taxes (19.0) (1,714.1) (114.8) (2,213.9)
Income tax expense 7.2 10.8 20.4 508.1
Loss from continuing operations (26.2) (1,724.9) (135.2) (2,722.0)
Income from discontinued operations, net of income taxes 0.0 0.1 $ 0.3 $ 0.1
Net loss $ (26.2) $ (1,724.8)    
Basic (loss) income per share (Note 7):        
Loss from continuing operations $ (1.33) $ (128.61) $ (6.86) $ (205.37)
(Loss) income from discontinued operations 0 0 0.02 0.01
Net loss $ (1.33) $ (128.60) $ (6.85) $ (205.37)
Basic weighted-averaged shares outstanding (in shares) 19.7 13,400,000 19,700,000 13,300,000
Diluted (loss) income per share (Note 7):        
Loss from continuing operations $ (1.33) $ (128.61) $ (6.86) $ (205.37)
(Loss) income from discontinued operations 0 0 0.02 0.01
Net loss $ (1.33) $ (128.60) $ (6.85) $ (205.37)
Diluted weighted-average shares outstanding (in shares)   13,400,000 19,700,000 13,300,000
Non-restructuring impairment charges $ 0.0 $ 135.9 $ 0.0 $ 135.9
Retained Earnings (Deficit)        
Net loss $ (26.2) $ (1,724.8) $ (134.9) $ (2,721.9)