Revenue from Contracts with Customers (Notes)

12 Months Ended

Dec. 27, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

6. Revenue from Contracts with Customers

Product Sales Revenue

 See Note 21 for disaggregation of the Company's net sales by product family.

Reserves for variable consideration

The following table reflects activity in the Company's sales reserve accounts:

	Rebates and Chargebacks (1)		Product Returns		Other Sales Deductions		Total
Balance as of December 31, 2021 (Predecessor)	241.8		21.5		9.5		272.8
Provisions	693.4		5.2		17.1		715.7
Payments or credits	(684.6)		(8.1)		(18.9)		(711.6)
Balance as of June 16, 2022 (Predecessor)	$	250.6	$	18.6	$	7.7	$	276.9
Balance as of June 17, 2022 (Predecessor)	$	250.6	$	18.6	$	7.7	$	276.9
Provisions	804.4		7.0		36.7		848.1
Payments or credits	(789.7)		(9.6)		(31.7)		(831.0)
Balance as of December 30, 2022 (Predecessor)	$	265.3	$	16.0	$	12.7	$	294.0
Provisions	1,368.8		9.9		43.3		1,422.0
Payments or credits	(1,410.1)		(13.1)		(42.3)		(1,465.5)
Balance as of November 14, 2023 (Predecessor)	$	224.0	$	12.8	$	13.7	$	250.5
Balance as of November 15, 2023 (Successor)	$	224.0	$	12.8	$	13.7	$	250.5
Provisions	173.0		3.0		6.9		182.9
Payments or credits	(195.4)		(1.3)		(9.3)		(206.0)
Balance as of December 29, 2023 (Successor)	$	201.6	$	14.5	$	11.3	$	227.4
Provisions	1,598.9		20.9		56.2		1,676.0
Payments or credits	(1,603.0)		(20.6)		(51.0)		(1,674.6)
Balance as of December 27, 2024 (Successor)	$	197.5	$	14.8	$	16.5	$	228.8

(1)Amounts classified within accrued and other current liabilities in the consolidated balance sheets are comprised of $26.4 million and $59.0 million of accrued Medicaid and $61.4 million and $35.1 million of accrued rebates, of which $39.8 million and $31.8 million relates to Acthar Managed Care and Medicare, as of December 27, 2024 (Successor) and December 29, 2023 (Successor), respectively.

Product sales transferred to customers at a point in time and over time were as follows:

	Successor				Predecessor
	Year Ended December 27, 2024		Period from November 15, 2023 through December 29, 2023		Period from December 31, 2022 through November 14, 2023		Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022
Product sales transferred at a point in time	86.5	%	85.3	%	83.2	%	83.0	%	80.8	%
Product sales transferred over time	13.5		14.7		16.8		17.0		19.2

Transaction price allocated to the remaining performance obligations

The following table includes estimated revenue from contracts extending greater than one year for certain of the Company's hospital products that are expected to be recognized in the future related to performance obligations that were unsatisfied or partially unsatisfied as of December 27, 2024 (Successor):

Fiscal 2025	$	81.9
Fiscal 2026	50.3
Thereafter	19.7

Costs to fulfill a contract

As of December 27, 2024 (Successor) and December 29, 2023 (Successor), the total net book value of the devices used in the Company's portfolio of drug-device combination products, which are used in satisfying future performance obligations and reflected in property, plant and equipment, net, on the consolidated balance sheets was $37.8 million and $0.6 million, respectively. The associated depreciation expense recognized during the year ended December 27, 2024 (Successor), the period November 15, 2023 through December 29, 2023 (Successor), the period December 31, 2022 through November 14, 2023 (Predecessor), the period June 17, 2022 through December 30, 2022 (Predecessor), and the period January 1, 2022 through June 16, 2022 (Predecessor) was $2.0 million, zero, $1.9 million, $1.0 million, and $2.9 million, respectively.

Product Royalty Revenues

The Company licensed certain rights to Amitiza to third parties in exchange for royalties on net sales of the product. Prior to December 30, 2022, the Company received a double-digit royalty based on a percentage of the gross profits of the licensed products sold during the term of the agreements. The Company recognized such royalty revenue as the related sales occurred. The associated royalty revenue recognized was as follows:

	Successor				Predecessor
	Year Ended December 27, 2024		Period from November 15, 2023 through December 29, 2023		Period from December 31, 2022 through November 14, 2023		Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022
Royalty revenue	$	0.1	$	0.1	$	4.3	$	36.2	$	34.9