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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 26, 2025
Sep. 27, 2024
Sep. 26, 2025
Sep. 27, 2024
Net sales $ 753.1 $ 505.5 $ 1,658.1 $ 1,487.6
Cost of sales 499.1 284.4 969.4 907.5
Gross profit 254.0 221.1 688.7 580.1
Selling, general and administrative expenses 351.7 141.2 649.8 406.0
Combination, integration, and other related expenses   0.0 136.9 0.0
Research and development expenses 44.3 28.2 88.4 85.3
Restructuring charges, net 0.0 0.1 (2.2) 10.5
Liabilities management and separation costs 33.3 15.2 36.9 32.2
Operating (loss) income (269.1) 36.4 (221.1) 46.1
Interest expense (70.6) (59.0) (136.0) (177.5)
Interest income (6.5) (7.4) (18.2) (20.2)
Gain on debt extinguishment 4.6 0.0 4.6 0.0
Gain on divestiture 0.8 0.0 (5.9) 0.0
Other income (expense), net 0.8 (3.8) 2.2 (3.6)
Loss from continuing operations before income taxes (327.0) (19.0) (338.0) (114.8)
Income tax (benefit) expense (35.9) 7.2 (21.3) 20.4
Loss from continuing operations (291.1) (26.2) (316.7) (135.2)
Income from discontinued operations, net of income taxes 0.0 0.0 0.3 0.3
Net loss $ (291.1) $ (26.2) $ (316.4) $ (134.9)
Basic (loss) income per share (Note 7):        
Loss from continuing operations (in dollars per share) $ (9.01) $ (1.33) $ (13.25) $ (6.86)
Income from discontinued operations (in dollars per share) 0 0 0.01 0.02
Net loss (in dollars per share) $ (9.01) $ (1.33) $ (13.24) $ (6.85)
Basic weighted-averaged shares outstanding (in shares) 32.3 19.7 23.9 19.7
Diluted (loss) income per share (Note 7):        
Loss from continuing operations (in dollars per share) $ (9.01) $ (1.33) $ (13.25) $ (6.86)
Income from discontinued operations (in dollars per share) 0 0 0.01 0.02
Net loss (in dollars per share) $ (9.01) $ (1.33) $ (13.24) $ (6.85)
Diluted weighted-average shares outstanding (in shares) 32.3 19.7 23.9 19.7
Mallinckrodt & Endo Merger        
Combination, integration, and other related expenses $ 93.8   $ 136.9