Discontinued Operations and Disposal Groups (Tables)

9 Months Ended

Sep. 27, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the assets and liabilities of Therakos that are classified as held for sale on the unaudited condensed consolidated balance sheet as of September 27, 2024 (Successor). As of December 29, 2023 (Successor), the Company had no assets or liabilities related to divestiture activities that met the classification of held for sale.

	Successor
	September 27, 2024
Carrying amounts of major classes of assets
Cash and cash equivalents	$	3.0
Accounts receivable	9.8
Inventories	32.2
Prepaid expenses and other current assets	4.3
Current assets held for sale	49.3
Property, plant and equipment, net	2.2
Intangibles assets, net	108.7
Other non-current assets	4.4
Total assets held for sale	$	164.6
Carrying amounts of major classes of liabilities
Accounts payable	$	9.2
Accrued payroll and payroll-related costs	4.0
Other current liabilities	10.9
Current liabilities held for sale	24.1
Pension and postretirement benefits	1.6
Other non-current liabilities	1.6
Total liabilities held for sale	$	27.3

Consistent with the Company’s calculation of reportable segment operating income, management excludes corporate expenses and certain amounts that management considers to be non-recurring or non-operational, including, but not limited to, depreciation and amortization, share-based compensation, net restructuring charges, non-restructuring impairment charges and liabilities management and separation costs. Refer to Note 15 for additional information on the Company’s segments.

The following tables summarize (loss) income from operations before income taxes for the Therakos business:

	Successor		Predecessor
	Three Months Ended September 27, 2024		Three Months Ended September 29, 2023
(Loss) income from operations before income taxes	$	(2.2)	$	31.6

	Successor		Predecessor
	Nine Months Ended September 27, 2024		Nine Months Ended September 29, 2023
(Loss) income from operations before income taxes	$	(0.9)	$	52.8