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Income Taxes (Tables)
 12 Months Ended
Dec. 27, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Income from Continuing Operations before Income Taxes
The domestic and international components (1) of income (loss) from continuing operations before income taxes were as follows:
SuccessorPredecessor
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
Domestic$675.1 $(46.1)$(3,628.8)$(359.4)$(2,883.3)
International(60.6)(0.1)1,719.7 (290.9)2,072.0 
Total$614.5 $(46.2)$(1,909.1)$(650.3)$(811.3)
(1) Domestic reflects Ireland.
Schedule of Significant Components of Income Taxes Related to Continuing Operations
Significant components (1) of income taxes related to continuing operations were as follows:
SuccessorPredecessor
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
Current:
Domestic$(31.7)$(0.8)$36.6 $(32.8)$33.7 
International10.9 (0.6)4.7 5.7 (57.6)
Current income tax (benefit) provision(20.8)(1.4)41.3 (27.1)(23.9)
Deferred:
Domestic85.7 (6.1)(300.6)(44.6)(82.3)
International73.0 (0.5)(18.5)19.7 (391.1)
Deferred income tax provision (benefit)158.7 (6.6)(319.1)(24.9)(473.4)
Total$137.9 $(8.0)$(277.8)$(52.0)$(497.3)
(1) Domestic reflects Ireland.
Schedule of Reconciliation of Income Taxes at Statutory Rate and Tax Provision
The reconciliation between domestic income taxes at the statutory rate and the Company's provision for income taxes on continuing operations is as follows:
SuccessorPredecessor
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
Provision (benefit) for income taxes at domestic statutory income tax rate (1)
$76.8 $(5.8)$(238.6)$(81.3)$(101.4)
Adjustments to reconcile to income tax provision:
Rate difference between domestic and international jurisdictions35.1 (2.2)56.6 (4.7)226.5 
Permanently nondeductible and nontaxable items (2)
12.6 (0.2)3.2 3.1 (1.7)
Emergence— — (103.7)— (31.6)
Withholding tax on Swiss distribution— — — 4.7 — 
Legal entity reorganization (3)
— — (44.7)— — 
Reorganization items, net— — 6.7 1.7 15.7 
Other(3.4)0.1 (1.3)(1.4)(4.0)
Valuation allowances (4)
16.8 0.1 44.0 25.9 (600.8)
Provision (benefit) for income taxes$137.9 $(8.0)$(277.8)$(52.0)$(497.3)
(1)The statutory tax rate reflects the Irish statutory tax rate of 12.5%.
(2)For the year ended December 27, 2024, the permanently nondeductible and nontaxable items of $12.6 million includes $6.1 million of expense related to nondeductible employee compensation.
(3)Associated unrecognized tax expense is netted within this line.
(4)The period January 1, 2022 through June 16, 2022 (Predecessor) consists of $512.1 million of tax benefit for the reduction in the valuation allowance on the Company's deferred tax assets due to the alleviation of the previous substantial doubt about the Company's ability to continue as a going concern.
Schedule of Unrecognized Tax Benefit Activity
The following table summarizes the activity related to the Company's unrecognized tax benefits, excluding interest:
SuccessorPredecessor
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
Balance at beginning of period$33.3 $33.3 $24.8 $24.8 $333.5 
Additions related to current year tax positions— — 8.5 — — 
Additions related to prior period tax positions— — — — — 
Reductions related to prior period tax positions(2.2)— — — (306.1)
Settlements— — — — (2.6)
Lapse of statutes of limitations— — — — — 
Balance at end of period$31.1 $33.3 $33.3 $24.8 $24.8 
Schedule of Unrecongized Tax Benefits Balance Sheet Location
Unrecognized tax benefits, excluding interest, were reported in the following consolidated balance sheet captions in the amounts shown:
Successor
December 27, 2024December 29, 2023
Deferred income tax asset$11.3 $17.9 
Other income tax liabilities19.8 15.4 
$31.1 $33.3 
Schedule of Income Taxes Payable
Income taxes payable, including uncertain tax positions and related interest accruals, was reported in the following consolidated balance sheet captions in the amounts shown:
Successor
December 27, 2024December 29, 2023
Accrued and other current liabilities$1.5 $1.7 
Other income tax liabilities25.7 19.6 
$27.2 $21.3 
Schedule of Income Tax Receivables and Other Assets
Tax receivables were included in the following consolidated balance sheet captions in the amounts shown:
Successor
December 27, 2024December 29, 2023
Prepaid expenses and other current assets$56.5 $11.5 
Schedule of Deferred Taxes Activity The components of the net deferred tax asset (liability) at the end of each fiscal year were as follows:
Successor
December 27, 2024December 29, 2023
Deferred tax assets:
Tax loss and credit carryforward$3,529.8 $3,600.7 
Capital tax loss carryforward and related assets188.1 983.5 
Intangible assets474.8 571.5 
Other306.9 326.4 
4,499.6 5,482.1 
Deferred tax liabilities:
Investment in partnership(66.1)(68.7)
Other(24.5)(28.6)
(90.6)(97.3)
Net deferred tax asset before valuation allowances4,409.0 5,384.8 
Valuation allowances(3,757.3)(4,583.8)
Net deferred tax asset$651.7 $801.0 
The following table presents a reconciliation of the deferred tax asset valuation allowance:
SuccessorPredecessor
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
Balance at beginning of period$4,583.8 $4,584.8 $4,992.9 $5,129.7 $6,344.2 
Charged to costs and expenses(826.0)(1.1)(407.4)(136.0)(1,213.5)
Charged to Other Accounts(0.5)0.1 (0.7)(0.8)(1.0)
Balance at the end of the period$3,757.3 $4,583.8 $4,584.8 $4,992.9 $5,129.7 
Schedule of Deferred Tax Assets and Liabilities on Balance Sheet
Deferred taxes were included in the following consolidated balance sheet captions in the amounts shown:
Successor
December 27, 2024December 29, 2023
Deferred income tax asset$651.8 $801.0 
Other liabilities(0.1)— 
Net deferred tax asset$651.7 $801.0