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Financial Instruments and Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
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 31,
2026
Level 1Level 2Level 3
Assets:
Equity securities$4.3 $4.3 $— $— 
$4.3 $4.3 $— $— 
Liabilities:
Deferred compensation liabilities$19.8 $— $19.8 $— 
Contingent consideration liabilities55.4 — — 55.4 
$75.2 $— $19.8 $55.4 
Fair Value Measurement
Using Fair Value Hierarchy:
December 31,
2025
Level 1Level 2Level 3
Assets:
Equity securities$10.5 $10.5 $— $— 
$10.5 $10.5 $— $— 
Liabilities:
Deferred compensation liabilities$21.7 $— $21.7 $— 
Contingent consideration liabilities54.8 — — 54.8 
$76.5 $— $21.7 $54.8 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes activity for contingent consideration:
Terlivaz CVR (1)
Edex (2)
Total
December 31, 2025$20.0 $34.8 $54.8 
Fair value adjustment— 0.6 0.6 
March 31, 2026$20.0 $35.4 $55.4 
(1) Fair value classified within accrued and other liabilities as of March 31, 2026 and December 31, 2025.
(2) Includes fair value of $3.0 million as of March 31, 2026 and December 31, 2025 classified within accrued and other current liabilities, respectively.
Schedule of Carrying Amount and Fair Value of Long-Term Debt
March 31, 2026December 31, 2025
Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
Level 1:
8.50% Senior Secured Notes due April 2031
$1,057.1 $1,048.0 $1,060.0 $1,058.1 
Level 2:
Term Loan due April 20311,483.3 1,471.0 1,487.3 1,472.0 
Total Debt$2,540.4 $2,519.0 $2,547.3 $2,530.1 
Schedules of Concentration of Risk
The following table shows net sales attributable to customers that accounted for 10.0% or more of the Company's total net sales:
Three Months Ended
March 31,
2026
March 28,
2025
FFF Enterprises, Inc.34.4 %54.8 %
Cencora, Inc.19.8 *
CVS Health Corporation12.3 *
* Net sales to this customer were less than 10.0% of total net sales during 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 31,
2026
December 31,
2025
Cencora, Inc.36.3 %47.5 %
FFF Enterprises, Inc.30.8 19.2