Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 27, 2024

Schedule of Useful Lives for Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment is stated at cost less accumulated depreciation and impairment. Major renewals and improvements are capitalized, while routine maintenance and repairs are expensed as incurred. Depreciation for property, plant and equipment, other than land and construction in process, is generally based upon the following estimated useful lives, using the straight-line method:


Buildings	10	to	45 years
Leasehold improvements	Remaining term of lease
Capitalized software	8	to	10 years
Machinery and equipment	5	to	15 years

The Company capitalizes certain computer software and development costs incurred in connection with developing or obtaining software for internal use.

Upon retirement or other disposal of property, plant and equipment, the cost and related amount of accumulated depreciation are eliminated from the asset and accumulated depreciation accounts, respectively. The difference, if any, between the net asset value and the proceeds is included in net loss.

The Company assesses the recoverability of assets or asset groups using undiscounted cash flows whenever events or circumstances indicate that the carrying value of an asset or asset group may not be recoverable. If an asset or asset group is found to be impaired, the amount recognized for impairment is equal to the difference between the carrying value of the asset or asset group and its fair value.

Shipping and Handling Cost

Shipping costs included in SG&A expenses in continuing operations 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
Shipping costs	$	22.5	$	3.5	$	22.3	$	13.9	$	12.8