Leases (Tables)

12 Months Ended

Dec. 27, 2024

Schedule of Lease Assets and Liabilities

Lease assets and liabilities related to the Company's operating and finance leases are reported in the following consolidated balance sheet captions:


	Successor
	December 27, 2024		December 29, 2023
Operating leases	$	56.3	$	50.9
Finance leases	5.8		—
Other assets	$	62.1	$	50.9

Operating leases	$	10.8	$	10.5
Finance leases	0.3		—
Accrued and other current liabilities	$	11.1	$	10.5

Operating leases	$	45.0	$	44.8
Finance leases	5.7		—
Other liabilities	50.7		44.8
Total lease liabilities	$	61.8	$	55.3

Lease, Cost

Dependent on the nature of the leased asset, lease expense is included within cost of sales or SG&A. The primary components of lease expense 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
Lease cost:
Operating lease cost	$	13.9	$	1.8	$	15.0	$	7.9	$	8.7
Short-term lease cost	1.4		0.5		0.9		1.6		0.4
Variable lease cost	—		—		2.3		1.5		1.2

Finance lease costs:
Amortization of right-of-use assets	0.4		—		—		—		—
Interest on lease liabilities	0.4		—		—		—		—
Total lease cost	$	16.1	$	2.3	$	18.2	$	11.0	$	10.3

Lessee, Operating Lease, Liability, Maturity

Contractual maturities of lease liabilities as of December 27, 2024 (Successor) were as follows:


	Operating		Financing
Fiscal 2025	$	16.8	$	0.8
Fiscal 2026	12.4		0.8
Fiscal 2027	10.2		0.8
Fiscal 2028	9.1		0.9
Fiscal 2029	7.8		0.9
Thereafter	19.4		4.9
Total lease payments	75.7		9.1
Less: Interest	(19.9)		(3.1)
Present value of lease liabilities	$	55.8	$	6.0

Lessee, Operating Lease, Lease Terms

Lease terms and discount rates were as follows:


	Successor
	December 27, 2024		December 29, 2023
Weighted-average remaining lease term (in years) - operating leases	7.2		7.4
Weighted-average discount rate - operating leases	6.5	%	8.1	%
Weighted-average remaining lease term (in years) - finance lease	10.0		—
Weighted-average discount rate - finance lease	8.5	%	—	%

Lessee, Operating Lease, Cash Flow Information

Other supplemental cash flow information related to leases 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
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13.8	$	2.4	$	14.6	$	9.2	$	9.4
Operating cash flows from finance lease	0.4		—		—		—		—
Financing cash flows from finance lease	0.2		—		—		—		—
Lease assets obtained in exchange for lease obligations:
Operating leases	18.0		—		13.2		7.1		13.4
Finance lease	6.2		—		—		—		—