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Financial Instruments and Fair Value Measurements (Tables)
3 Months Ended
Mar. 28, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following tables provide a summary of the significant assets and liabilities that are measured at fair value on a recurring basis at the end of each period:
Fair Value Measurement
Using Fair Value Hierarchy:
March 28,
2025
Level 1Level 2Level 3
Assets:
Debt and equity securities held in rabbi trusts$25.2 $16.8 $8.4 $— 
Equity securities5.8 5.8 — — 
Interest rate cap2.7 — 2.7 — 
$33.7 $22.6 $11.1 $— 
Liabilities:
Deferred compensation liabilities$19.5 $— $19.5 $— 
Contingent consideration liabilities17.4 — — 17.4 
$36.9 $— $19.5 $17.4 
Fair Value Measurement
Using Fair Value Hierarchy:
December 27,
2024
Level 1Level 2Level 3
Assets:
Debt and equity securities held in rabbi trusts$25.4 $17.4 $8.0 $— 
Equity securities12.0 12.0 — — 
Interest rate cap5.3 — 5.3 — 
$42.7 $29.4 $13.3 $— 
Liabilities:
Deferred compensation liabilities$22.5 $— $22.5 $— 
Contingent consideration liabilities17.5 — — 17.5 
$40.0 $— $22.5 $17.5 
Schedule of Carrying Amount and Fair Value of Long-term Debt The following table presents the carrying values and estimated fair values of the Company's debt as of the end of each period:
March 28, 2025December 27, 2024
Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
Level 1:
14.75% Second-Out Takeback Notes due November 2028$503.5 $500.3 $505.4 $511.6 
Level 2:
Second-Out Takeback Term Loan Due November 2028407.8 403.2 410.2 415.4 
Total Debt$911.3 $903.5 $915.6 $927.0 
Schedules of Concentration of Risk
The following table shows net sales attributable to distributors that accounted for 10.0% or more of the Company's total net sales:
Three Months Ended
March 28,
2025
March 29,
2024
FFF Enterprises, Inc.27.1 %20.1 %
Cencora, Inc.21.2 15.0 
* Net sales to this distributor were less than 10.0% of the Company's total net sales for the respective periods presented above.
The following table shows accounts receivable attributable to distributors that accounted for 10.0% or more of the Company's gross accounts receivable at the end of each period:
March 28,
2025
December 27,
2024
Cencora, Inc.39.1 %34.9 %
McKesson Corporation17.2 19.8 
FFF Enterprises, Inc.11.3 12.1 
The following table shows net sales attributable to products that accounted for 10.0% or more of the Company's total net sales:
Three Months Ended
March 28,
2025
March 29,
2024
Acthar Gel27.5 %22.0 %
INOmax14.9 15.0 
Therakos (Note 3)*12.4 
APAP*11.0 
* Net sales attributable to this product were less than 10.0% of the Company's total net sales for the respective periods presented above.