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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 26, 2025
Sep. 27, 2024
Cash Flows From Operating Activities:    
Net loss $ (316.4) $ (134.9)
Adjustments to reconcile net cash from operating activities:    
Depreciation and amortization 107.2 93.5
Share-based compensation 35.4 3.8
Deferred income taxes (47.4) 22.9
Loss on divestiture (Note 3) 5.9 0.0
Gain on debt extinguishment, net (Note 11) (4.6) 0.0
Inventory step-up amortization related to Business Combination 116.3 0.0
Inventory provisions 27.6 17.0
Non-cash accretion (amortization) expense 4.6 (3.6)
Other non-cash items 14.0 1.9
Changes in assets and liabilities:    
Accounts receivable, net (3.3) (16.5)
Inventories 125.5 222.1
Accounts payable 14.0 (5.6)
Income taxes 15.9 (7.1)
Acthar Gel-Related Litigation Settlement liability (21.3) (21.4)
Other 53.0 13.6
Net cash from operating activities 126.4 185.7
Cash Flows From Investing Activities:    
Capital expenditures (70.8) (71.5)
Receipts of unrestricted cash, net of payments related to the Business Combination (Note 3) 333.4 0.0
Receipts of restricted cash related to Business Combination (Note 3) 93.4 0.0
Payments related to divestitures (Note 3) (6.2) 0.0
Proceeds from life insurance contracts 14.0 0.0
Proceeds from debt and equity securities 0.0 22.6
Other 3.8 4.2
Net Cash From Investing Activities 367.6 (44.7)
Cash Flows From Financing Activities:    
Issuance of external debt 1,200.0 0.0
Repayment of external debt (869.4) (4.4)
Makewhole premium (Note 11) (24.3) 0.0
Debt financing costs (40.1) 0.0
Repurchase of shares (1.9) 0.0
Payment of contingent consideration (1.8) 0.0
Other (0.6) (0.4)
Net cash from financing activities 261.9 (4.8)
Effect of currency rate changes on cash 1.4 (0.6)
Net change in cash, cash equivalents and restricted cash, including cash classified within assets held for sale 757.3 135.6
Less: Net change in cash classified within assets held for sale 0.0 (3.0)
Net change in cash, cash equivalents and restricted cash 757.3 132.6
Cash, cash equivalents and restricted cash at beginning of period 445.7 343.4
Cash, cash equivalents and restricted cash at end of period 1,203.0 476.0
Cash and cash equivalents 1,047.9 410.5
Restricted cash included in prepaid expenses and other current assets at end of period (Note 12) 113.2 23.9
Restricted cash included in other long-term assets at end of period (Note 12) $ 41.9 $ 41.6