0001567892-22-000007 | 10-K | XBRL Viewer

[1]	Specialty Brands net sales for fiscal 2020 includes the prospective change to the Medicaid rebate calculation, which served to reduce Acthar Gel net sales by $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.
[2]	Excludes the $105.1 million that is reflected as a component of operating expenses as it represents a pre-acquisition contingency related to the portion of the liability that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor in August 2014. See Note 19 for further detail on the status of the Medicaid lawsuit.

Consolidated Statements of Comprehensive Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Currency translation adjustments	$ (0.5)	$ 2.1	$ 18.3
Net loss	(717.4)	(944.6)	(996.5)
Unrecognized gain on derivatives	0.0	0.4	1.8
Unrecognized gain (loss) on benefit plans	1.8	(4.2)	(4.2)
Total other comprehensive income (loss), net of tax	1.3	(1.7)	15.9
Comprehensive loss	(716.1)	(946.3)	(980.6)
Other comprehensive income (loss), net of tax
Currency translation adjustments	(0.5)	2.1	18.3
Unrecognized gain (loss) on benefit plans	1.8	(4.2)	(4.2)
Unrecognized gain on derivatives	0.0	0.4	1.8
Total other comprehensive income (loss), net of tax	1.3	(1.7)	15.9
Comprehensive loss	(716.1)	(946.3)	(980.6)
Retained Earnings
Net loss	$ (717.4)	$ (944.6)	$ (996.5)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020
Current Assets:
Cash and cash equivalents	$ 1,345.0	$ 1,070.6
Accounts receivable, less allowance for doubtful accounts of $4.7 and $4.5	439.1	538.8
Inventories	347.2	344.9
Prepaid expenses and other current assets	178.3	350.0
Total current assets	2,309.6	2,304.3
Property, plant and equipment, net	776.0	833.1
Intangible assets, net	5,448.4	6,184.5
Other assets	382.3	393.5
Total Assets	8,916.3	9,715.4
Current Liabilities:
Current maturities of long-term debt	1,388.9	3,587.9
Accounts payable	123.0	93.3
Accrued payroll and payroll-related costs	84.6	79.4
Accrued interest	17.0	26.9
Accrued and other current liabilities	328.7	331.2
Total current liabilities	1,942.2	4,118.7
Pension and postretirement benefits	30.1	34.6
Environmental liabilities	43.0	59.8
Deferred income taxes	20.9	80.6
Other income tax liabilities	83.2	100.1
Other liabilities	85.8	109.8
Liabilities subject to compromise (Note 2)	6,397.7	4,192.6
Total Liabilities	8,602.9	8,696.2
Shareholders' Equity:
Preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding	0.0	0.0
Ordinary A shares, €1.00 par value, 40,000 authorized; none issued or outstanding	0.0	0.0
Ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 and 94,111,303 issued; 84,726,590 and 84,605,156 outstanding	18.9	18.8
Ordinary shares held in treasury at cost, 9,569,645 and 9,506,147	(1,616.1)	(1,616.1)
Additional paid-in capital	5,597.8	5,587.6
Retained deficit	(3,678.9)	(2,961.5)
Accumulated other comprehensive loss	(8.3)	(9.6)
Total Shareholders' Equity	313.4	1,019.2
Total Liabilities and Shareholders' Equity	8,916.3	9,715.4
Cash and cash equivalents	1,345.0	1,070.6
Accounts receivable, less allowance for doubtful accounts of $4.7 and $4.5	439.1	538.8
Inventory, Net	347.2	344.9
Prepaid expenses and other current assets	178.3	350.0
Total current assets	2,309.6	2,304.3
Property, plant and equipment, net	776.0	833.1
Intangible Assets, Net (Excluding Goodwill)	5,448.4	6,184.5
Other assets	382.3	393.5
Assets	8,916.3	9,715.4
Current maturities of long-term debt	1,388.9	3,587.9
Accounts Payable, Current	123.0	93.3
Accrued payroll and payroll-related costs	84.6	79.4
Accrued interest	17.0	26.9
Accrued and other current liabilities	328.7	331.2
Total current liabilities	1,942.2	4,118.7
Pension and postretirement benefits	30.1	34.6
Environmental liabilities	43.0	59.8
Deferred income taxes	20.9	80.6
Other income tax liabilities	83.2	100.1
Other Liabilities, Noncurrent	85.8	109.8
Liabilities subject to compromise (Note 2)	6,397.7	4,192.6
Total Liabilities	8,602.9	8,696.2
Preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding	0.0	0.0
Ordinary A shares, €1.00 par value, 40,000 authorized; none issued or outstanding	0.0	0.0
Ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 and 94,111,303 issued; 84,726,590 and 84,605,156 outstanding	18.9	18.8
Treasury Stock, Value	1,616.1	1,616.1
Additional paid-in capital	5,597.8	5,587.6
Retained deficit	(3,678.9)	(2,961.5)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(8.3)	(9.6)
Shareholders' equity	313.4	1,019.2
Total Liabilities and Shareholders' Equity	$ 8,916.3	$ 9,715.4

Consolidated Balance Sheets (Parenthetical) $ in Millions	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 € / shares	Dec. 25, 2020 USD ($) $ / shares shares	Dec. 25, 2020 € / shares
Accounts Receivable, Allowance for Credit Loss, Current \| $	$ 4.7		$ 4.5
Preferred shares, par value (in usd per share) \| $ / shares	$ 0.20		$ 0.20
Preferred shares, shares authorized (in shares)	500,000,000		500,000,000
Preferred shares, shares issued (in shares)	0		0
Preferred shares, shares outstanding (in shares)	0		0
Ordinary A shares, par value (in eur per share) \| € / shares		€ 1.00		€ 1.00
Ordinary A shares, shares authorized (in shares)	40,000		40,000
Ordinary A shares, shares issued (in shares)	0		0
Ordinary A shares, shares outstanding (in shares)	0		0
Ordinary shares, par value (in usd per share) \| $ / shares	$ 0.20		$ 0.20
Ordinary shares, shares authorized (in shares)	500,000,000		500,000,000
Ordinary shares, shares issued (in shares)	94,296,235		94,111,303
Ordinary shares, shares outstanding (in shares)	84,726,590		84,605,156
Ordinary shares held in treasury (in shares)	9,569,645		9,506,147

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Restricted Cash and Investments, Current	$ 24.0	$ 20.2	$ 0.0
Restricted Cash and Investments, Noncurrent	36.2	36.2	31.7
Cash and cash equivalents	1,345.0	1,070.6	790.9
Cash and Cash Equivalents, Including Restricted Cash	1,405.2	1,127.0	822.6
Effect of currency rate changes on cash	(1.9)	2.3	0.6
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	278.2	304.4	455.1
Cash Flows from Operating Activities:
Net loss	(717.4)	(944.6)	(996.5)
Adjustments to reconcile net cash provided by operating activities:
Depreciation and amortization	675.8	885.2	951.1
Share-based compensation	10.2	25.3	33.8
Deferred income taxes	(59.9)	385.3	(604.3)
Non-cash impairment charges	154.9	63.5	388.0
Inventory provisions	11.5	18.5	18.0
Losses (gains) on divestiture	0.8	16.6	33.5
Gain on debt extinguishment, net	0.0	0.0	(466.6)
Other non-cash items	(13.1)	(40.2)	(65.7)
Reorganization items, net	22.5	10.2	0.0
Changes in assets and liabilities, net of the effects of acquisitions:
Accounts receivable, net	98.2	(37.9)	31.6
Inventories	(14.0)	51.1	(23.1)
Accounts payable	(1.1)	15.7	6.7
Income taxes	108.5	(433.8)	(2.1)
Opioid-related litigation settlement liability	125.0	0.0	1,600.0
Medicaid lawsuit	(4.2)	638.9	0.0
Other	57.7	95.3	(161.5)
Net cash from operating activities	455.4	498.9	742.9
Cash Flows from Investing Activities:
Capital expenditures	(55.3)	(47.7)	(133.0)
Proceeds (payments) related to divestiture, net of cash	15.7	(0.7)	95.1
Other	1.8	(37.2)	29.6
Net cash from investing activities	(37.8)	(11.2)	(8.3)
Cash Flows from Financing Activities:
Issuance of external debt	0.0	0.0	695.0
Repayment of external debt	(137.5)	(139.5)	(945.1)
Debt financing costs	0.0	(9.4)	(10.1)
Proceeds from exercise of share options	0.0	0.0	0.6
Repurchase of shares	0.0	(0.4)	(2.6)
Other	0.0	(36.3)	(17.9)
Net Cash Provided by (Used in) Financing Activities	(137.5)	(185.6)	(280.1)
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	243.2	256.1	314.2
Cash (received) paid for income taxes, net	$ (160.0)	$ 39.9	$ 30.7

Consolidated Statement of Changes in Shareholders' Equity Statement - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Ordinary Shares	Treasury Shares	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Cumulative Effect, Period of Adoption, Adjustment [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	$ 15.9							$ 15.9
Beginning balance, shares at Dec. 28, 2018			92,700,000	9,400,000
Beginning balance, value at Dec. 28, 2018	2,887.3		$ 18.5	$ (1,617.4)	$ 5,528.2	$ (1,017.7)		(24.3)
Beginning balance, value (Accounting Standards Update 2018-02 [Member]) at Dec. 28, 2018		$ 0.0					$ (0.5)		$ 0.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (996.5)					(996.5)
Share options exercised, shares	45,324
Share options exercised, value	$ 0.6				0.6
Vesting of restricted shares, shares			800,000	200,000
Vesting of restricted shares, value	2.5		$ (0.2)	$ 2.6	0.1
Share-based compensation	$ 33.8				33.8
Stock Issued During Period, Shares, Treasury Stock Reissued	(200,000)
Stock Issued During Period, Value, Treasury Stock Reissued	$ (2.1)			$ (4.3)		(2.2)
Ending balance, shares at Dec. 27, 2019			93,500,000	9,400,000
Ending balance, value at Dec. 27, 2019	1,940.7		$ 18.7	$ (1,615.7)	5,562.5	(2,016.9)		(7.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	(1.7)							(1.7)
Net loss	(944.6)					(944.6)
Vesting of restricted shares, shares			600,000	100,000
Vesting of restricted shares, value	0.5		$ (0.1)	$ 0.4	0.2
Share-based compensation	25.3				25.3
Ending balance, shares at Dec. 25, 2020			94,100,000	9,500,000
Ending balance, value at Dec. 25, 2020	1,019.2		$ 18.8	$ (1,616.1)	5,587.6	(2,961.5)		(9.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	1.3							1.3
Net loss	(717.4)					(717.4)
Vesting of restricted shares, shares			200,000	100,000
Vesting of restricted shares, value	(0.1)		$ (0.1)	$ 0.0	0.0
Share-based compensation	10.2				10.2
Ending balance, shares at Dec. 31, 2021			94,300,000	9,600,000
Ending balance, value at Dec. 31, 2021	$ 313.4		$ 18.9	$ (1,616.1)	$ 5,597.8	$ (3,678.9)		$ (8.3)

Background and Basis of Presentation (Notes)	12 Months Ended
Background and Basis of Presentation (Notes)	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background Mallinckrodt plc is a global business of multiple wholly owned subsidiaries (collectively, "Mallinckrodt" or "the Company") that develop, manufacture, market and distribute specialty pharmaceutical products and therapies. Areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, nephrology, pulmonology, ophthalmology and oncology; immunotherapy and neonatal respiratory critical care therapies; analgesics; cultured skin substitutes and gastrointestinal products. The Company operates in two reportable segments, which are further described below: •Specialty Brands includes innovative specialty pharmaceutical brands; and •Specialty Generics includes niche specialty generic drugs and active pharmaceutical ingredients ("API(s)"). The Company is incorporated and maintains its principal executive offices in Ireland. The Company continues to be subject to United States ("U.S.") Securities and Exchange Commission ("SEC") reporting requirements. Basis of Presentation The consolidated financial statements have been prepared in U.S. dollars and in accordance with accounting principles generally accepted in the U.S. ("GAAP"). The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results may differ from those estimates. The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries and entities in which they own or control more than 50.0% of the voting shares, or have the ability to control through similar rights. All intercompany balances and transactions have been eliminated in consolidation and all normal recurring adjustments necessary for a fair presentation have been included in the results reported. The results of entities disposed of are included in the consolidated financial statements up to the date of disposal and, where appropriate, these operations have been reported in discontinued operations. Divestitures of product lines and businesses not meeting the criteria for discontinued operations have been reflected in operating loss. Going Concern The accompanying consolidated financial statements are prepared in accordance with GAAP applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. On October 12, 2020, Mallinckrodt plc and certain of its subsidiaries voluntarily initiated proceedings (the "Chapter 11 Cases") under chapter 11 of title 11 ("Chapter 11") of the United States Code (the "Bankruptcy Code"), to modify its capital structure, including restructuring portions of its debt, and resolve potential legal liabilities, including but not limited to those described in Note 19 as Opioid-Related Matters and Acthar Gel-Related Matters. In connection with the filing of the Chapter 11 Cases, the Company entered into a Restructuring Support Agreement (as amended, supplemented or otherwise modified, the "RSA") (further detail for which is provided in Note 2) as part of a prearranged plan of reorganization. Subsequent to the filing of the Chapter 11 Cases, Chapter 11 proceedings commenced by a limited subset of the Debtors have been recognized and given effect in Canada, and separately Mallinckrodt plc has commenced an examinership process with the High Court of Ireland. The references to the Chapter 11 Cases included within this Annual Report on Form 10-K shall include, where applicable, such proceedings in Canada and Ireland. See Note 2 for further information on the voluntary petitions for reorganization, the RSA and agreements in principle subsequently memorialized in the Company's Chapter 11 plan of reorganization. Substantial doubt about the Company's ability to continue as a going concern exists in light of its Chapter 11 Cases. The Company's ability to continue as a going concern is contingent upon, among other things, its ability to, subject to the approval by the U.S. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"), implement a plan of reorganization, emerge from the Chapter 11 proceedings and generate sufficient liquidity following the reorganization to meet its obligations, most notably its opioid and Acthar® Gel (repository corticotropin injection) ("Acthar Gel")-related settlements, restructured debt obligations, and operating needs. Although management believes that the reorganization of the Company through the Chapter 11 proceedings will appropriately position the Company upon emergence, the commencement of these proceedings constituted an event of default under certain of the Company's debt agreements, enforcement of any remedies in respect of which is automatically stayed as a result of the Chapter 11 proceedings. There are a number of risks and uncertainties associated with the Company's bankruptcy, including, among others that: (a) the Company's prearranged plan of reorganization may never become effective, (b) the RSA may be terminated by one or more of the parties thereto, (c) the Bankruptcy Court may grant or deny motions in a manner that is adverse to the Company and its subsidiaries, and (d) the Chapter 11 Cases may be converted into cases under chapter 7 of the Bankruptcy Code. Although the Bankruptcy Court has entered an order (the "Confirmation Order") confirming the plan of reorganization proposed by the Debtors, consummation of such plan of reorganization and the transactions contemplated thereby and emergence from the Chapter 11 proceedings remains subject to the satisfaction of various conditions, including completion of the Canadian and Irish proceedings noted above. Accordingly, no assurance can be given that the plan of reorganization or the transactions contemplated thereby will be consummated. As a result, the Company has concluded that management's plans at this stage do not alleviate substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might result from the outcome of this uncertainty. Pursuant to sections 1107(a) and 1108 of the Bankruptcy Code, the Debtors (as defined in Note 2) retain control of their assets and are authorized to operate their business as debtors-in-possession while being subject to the jurisdiction of the Bankruptcy Court. While operating as debtors-in-possession under Chapter 11, the Debtors may sell or otherwise dispose of or liquidate assets or settle liabilities, subject to the approval of the Bankruptcy Court or as otherwise permitted in the ordinary course of business and subject to applicable orders of the Bankruptcy Court, for amounts other than those reflected in the accompanying consolidated financial statements. Any such actions occurring during the Chapter 11 Cases authorized by the Bankruptcy Court could materially impact the amounts and classifications of assets and liabilities reported in the Company's consolidated financial statements. For more information regarding the Chapter 11 Cases, see Note 2. Fiscal Year The Company reports its results based on a "52-53 week" year ending on the last Friday of December. Fiscal 2021 consisted of 53 weeks and fiscal 2020 and 2019 each consisted of 52 weeks. Unless otherwise indicated, fiscal 2021, 2020 and 2019 refer to the Company's fiscal years ended December 31, 2021, December 25, 2020 and December 27, 2019, respectively.

Reorganizations

12 Months Ended

Dec. 31, 2021

Reorganizations [Abstract]

Reorganization under Chapter 11 of US Bankruptcy Code Disclosure

Voluntary Filing Under Chapter 11

On October 12, 2020 (the "Petition Date"), Mallinckrodt plc and certain of its subsidiaries voluntarily initiated the Chapter 11 Cases under the Bankruptcy Code in the Bankruptcy Court to effectuate settlements contemplated in the RSA. The entities that filed the Chapter 11 Cases include the Company, substantially all of the Company's U.S. subsidiaries, including certain subsidiaries of Mallinckrodt plc operating the Specialty Generics business (the "Specialty Generics Subsidiaries") and the Specialty Brands business (the "Specialty Brands Subsidiaries"), and certain of the Company's international subsidiaries (together with the Company, Specialty Generics Subsidiaries and Specialty Brands Subsidiaries, the "Debtors"). Pursuant to orders granted by the Ontario Superior Court of Justice, the Chapter 11 proceedings commenced by a limited subset of the Company's subsidiaries have also been recognized and given effect in Canada. The Chapter 11 Cases are being jointly administered under the caption In re Mallinckrodt plc, Case No. 20-12522 (JTD). Information about the Chapter 11 Cases, including the case docket, may be found free of charge at https://restructuring.primeclerk.com/Mallinckrodt/.

The Debtors continue to operate their businesses as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. As debtors in possession, the Debtors are authorized to continue to operate as ongoing businesses, and may pay all debts and honor all obligations arising in the ordinary course of their businesses after the Petition Date. However, the Debtors may not pay third-party claims or creditors on account of obligations arising before the Petition Date or engage in transactions outside the ordinary course of business without approval of the Bankruptcy Court.

Under the Bankruptcy Code, third-party actions to collect pre-petition indebtedness owed by the Debtors, as well as most litigation pending against the Company as of the Petition Date, are subject to an automatic stay. However, under the Bankruptcy Code, certain regulatory or criminal proceedings generally are not subject to the automatic stay and may continue unless otherwise ordered by the Bankruptcy Court. Absent an order of the Bankruptcy Court providing otherwise, substantially all pre-petition liabilities will be resolved under a Chapter 11 plan of reorganization.

Among other requirements, a Chapter 11 plan of reorganization must comply with the priority scheme established by the Bankruptcy Code, under which certain post-petition and secured or “priority” pre-petition liabilities need to be satisfied before general unsecured creditors and holders of the Company's equity are entitled to receive any distribution. Upon solicitation of the plan of reorganization to creditors, with an accompanying court-approved disclosure statement, certain impaired creditors and interest holders will vote by ballot to approve or reject the plan. No assurance can be given as to what values, if any, will be ascribed in the Chapter 11 Cases to the claims and interests of each of these constituencies. See Restructuring Support Agreement and Plan of Reorganization section below for contemplated distributions to creditors and interest holders.

Under the Bankruptcy Code, the Debtors may assume, modify, assign or reject certain executory contracts and unexpired leases, including, without limitation, leases of real property and equipment, subject to the approval of the Bankruptcy Court and to certain other conditions. Generally, the rejection of an executory contract or unexpired lease is treated as a pre-petition breach of such executory contract or unexpired lease and, subject to certain exceptions, relieves the Debtors from performing their future obligations under such executory contract or unexpired lease but entitles the contract counterparty or lessor to a pre-petition general unsecured claim for damages caused by such deemed breach. Generally, the assumption of an executory contract or unexpired lease requires the Debtors to cure existing monetary defaults under such executory contract or unexpired lease and provide adequate assurance of future performance. Accordingly, any description of an executory contract or unexpired lease in this Annual Report on Form 10-K, including, where applicable, the express termination rights thereunder or a quantification of their obligations, must be read in conjunction with, and is qualified by, any overriding rejection rights the Debtors have under the Bankruptcy Code.

As discussed further below, the Debtors obtained approval from the Bankruptcy Court for certain "first day" motions, including motions to obtain customary relief intended to continue ordinary course operations after the Petition Date.

Significant Bankruptcy Court Actions

First Day Motions

On October 14, 2020, the Debtors received Bankruptcy Court approval of their customary motions filed on the Petition Date ("First Day Motions") on an interim basis seeking court authorization to continue to support its business operations during the Chapter 11 Cases, including the continued payment of employee wages and benefits without interruption, payment of critical and foreign vendors, continuation of customer programs, continuation of use of existing cash management programs and allowance of certain financing payments under a cash collateral order. The First Day Motions were subsequently approved by the Bankruptcy Court on a final basis at hearings.

Chapter 11 Financing

The Company obtained an order of the Bankruptcy Court in the Chapter 11 Cases (in a form agreed with, among others, the agent under the senior secured credit facilities, lenders under the senior secured revolving credit facility and the senior secured term loans and holders of the first lien senior notes and the second lien senior notes) permitting the use of cash collateral to finance the Chapter 11 Cases. Such use is subject to an approved budget, updated and submitted every four weeks, consisting of rolling thirteen-week periods subject to the consent of the lenders under the senior secured revolving credit facility and the senior secured term loans.

Such order requires that the Company make cash adequate protection payments on the senior secured revolving credit facility and the senior secured term loans for, among other things, unpaid pre-petition and post-petition fees, unpaid pre-petition interest (at the specified contract rate) and post-petition interest (at a rate equal to (1) the adjusted London Inter-Bank Offered Rate ("LIBOR"), plus (2) the contract-specified applicable margin, and plus (3) an incremental 200 basis points), quarterly amortization payments on the senior secured term loans and reimbursement of certain costs. Such order further requires that the Company make cash adequate protection payments on the first lien senior notes and the second lien senior notes for, among other things, unpaid pre-petition and post-petition interest (at the specified non-default interest rate) and reimbursement of certain costs. On April 13, 2021, the Debtors received Bankruptcy Court approval of their motion to amend the final cash collateral order as of March 22, 2021 to pay post-petition interest on the senior secured term loans at a rate equal to (1) the adjusted LIBOR, plus (2) the contract-specified applicable margin, and plus (3) an incremental 250 basis points for its senior secured term loans.

Interest expense incurred and paid with respect to the incremental adequate protection payments on the senior secured revolving credit facility and the senior secured term loans, respectively, were as follows:


	Fiscal Year
	2021		2020
Interest expense incurred for adequate protection payments	$	63.1	$	11.7
Cash paid for adequate protection payments	66.7		7.8

The cash collateral order provides that it is without prejudice to (i) the rights of certain parties to request additional or alternative adequate protection from the Bankruptcy Court, (ii) the rights of lenders under the senior secured revolving credit facility and the

senior secured term loans to seek a higher rate of interest and (iii) the rights of the holders of the first lien senior notes and the second lien senior notes to seek payment of a make-whole premium.

Bar Dates

On December 31, 2020, the Bankruptcy Court entered an order approving a deadline of February 16, 2021 at 5:00 pm (Eastern Time) (the General Bar Date) and April 12, 2021, at 5:00 p.m. (Eastern Time) (the Governmental Bar Date) for filing claims against the Debtors relating to the period prior to the Petition Date for general claims and government claims, respectively. On May 20, 2021, the Bankruptcy Court entered an order approving a deadline of June 28, 2021 at 5:00 pm (Eastern Time) for filing claims against the Debtors relating to the period from the Petition Date to April 30, 2021 for administrative expense requests by certain creditors. The preceding bar dates do not cover opioid claims (inclusive of voluntary injunction opioid claims). The Company's review and reconciliation of asserted claims and administrative expense requests is ongoing and discussed further below in Chapter 11 Claims Process.

Injunctive Litigation Relief

The Bankruptcy Court entered an order extending its prior injunctions against certain opioid and Acthar Gel-related litigation matters proceeding against the Debtors and also against certain covered non-Debtors on August 30, 2021. Refer to Note 19 for further discussion.

Restructuring Support Agreement and Plan of Reorganization

Restructuring Support Agreement

On October 11, 2020, the Company and the other Debtors entered into a RSA with creditors holding approximately 84%, by aggregate principal amount, of the Company's outstanding guaranteed unsecured senior notes and with a group of governmental plaintiffs in the opioid litigation pending against the Company and certain of its subsidiaries, including 50 state and territory attorneys general and the court-appointed plaintiffs' executive committee in the opioid multidistrict litigation (collectively, the "Initial RSA Supporting Parties"). After the bankruptcy filing, the Multi-State Governmental Entities Group (the "MSGE Group") entered into a joinder to the RSA that gained the support of approximately 1,300 cities, municipalities, hospital and school districts, amongst others. On March 11, 2021, an ad hoc group of lenders holding (collectively, together with the Initial RSA Supporting Parties and the MSGE Group, the "RSA Supporting Parties") approximately $1,300.0 million, by aggregate principal amount, of the Company's outstanding senior secured term loan due September 2024 (the "2017 Term Loan") and senior secured term loan due February 2025 (the "2018 Term Loan") agreed to join the RSA as supporting parties and certain of the existing supporting parties agreed to certain amendments thereto (the "Joinder and Amendment").

The restructuring transactions will be effectuated through the Chapter 11 plan of reorganization, which among other things provides for a financial restructuring that would reduce the Company's total debt. Pursuant to the RSA, each of the Debtors and the RSA Supporting Parties has made certain customary commitments to each other in connection with the pursuit of the transactions contemplated by the term sheets attached thereto. The Debtors have agreed, among other things, to use commercially reasonable efforts to make all requisite filings with the Bankruptcy Court; continue to involve and update the RSA Supporting Parties' representatives in the bankruptcy process; and satisfy certain other covenants. The RSA Supporting Parties have committed to support and vote for the Chapter 11 plan of reorganization implementing the terms of the RSA and have agreed to use commercially reasonable efforts to take, or refrain from taking, certain actions in furtherance of such support.

The RSA (as supplemented by the above-described joinders, including the Joinder and Amendment) incorporates the terms agreed to by the parties reflected in the term sheets attached to the RSA and such joinders, including the Joinder and Amendment, including an agreement by the RSA Supporting Parties. Each of the parties to the RSA may terminate the agreement (and thereby their support for the associated plan of reorganization) under certain limited circumstances. Any Debtor may terminate the RSA upon, among other circumstances: (i) its board of directors, after consultation with legal counsel, reasonably determining in good faith that performance under the RSA would be inconsistent with its fiduciary duties; and (ii) certain actions by the Bankruptcy Court, including dismissing the Chapter 11 Cases or converting the Chapter 11 Cases into cases under Chapter 7 of the Bankruptcy Code.

The RSA Supporting Parties also have specified termination rights, including, among other circumstances, termination rights that arise if certain of the milestones have not been achieved, extended, or waived. Termination by one of these creditor groups will result in the termination of the RSA as to the terminating group only, with the RSA remaining in effect with respect to the Debtors and the non-terminating group.

The Debtors' Chapter 11 plan that embodies the transactions set forth in the RSA was the subject of a confirmation hearing that commenced on November 1, 2021 and concluded on January 6, 2021. On February 3, 2022, the Bankruptcy Court issued a written ruling confirming the Chapter 11 plan (which was subsequently revised February 8, 2022 to make minor corrections). On March 2, 2022, the Bankruptcy Court entered the Confirmation Order. The consummation of the Chapter 11 plan is subject to satisfaction of certain conditions precedent. Accordingly, no assurance can be given that the transactions described therein will be consummated. Refer to Note 22 for further information on confirmation of the Chapter 11 plan.

Plan of Reorganization

On September 2, 2021, the Debtors reached agreements in principle with (1) the Governmental Plaintiff Ad Hoc Committee (the “GAHC”), the MSGE Group, and the Official Committee of Opioid Related Claimants appointed in the Chapter 11 Cases (the “OCC” and, together with the GAHC and the MSGE Group, the “Opioid Claimants”), (2) the Official Committee of Unsecured Creditors appointed in the Chapter 11 Cases (the “UCC”) and (3) holders of more than two-thirds of the outstanding principal amount of the 10.00% second lien senior secured notes due April 2025 (the "Second Lien Notes") issued by Company's subsidiaries Mallinckrodt International Finance S.A. and Mallinckrodt CB LLC (the “Settling Second Lien Noteholders”) and the trustee for the Second Lien Notes, in each case relating to the treatment of certain claims pursuant to the proposed Joint Chapter 11 Plan of Reorganization of Mallinckrodt plc and Its Debtor Affiliates Under Chapter 11 of the Bankruptcy Code dated as of June 18, 2021 (the "Proposed Plan"), as it was amended to conform to such agreements in principle (the “Amended Plan”) as filed by the Debtors on September 29, 2021.

The RSA Supporting Parties along with the OCC, the UCC and the Settling Second Lien Noteholders (in accordance with the agreements in principle) agree to support the following as memorialized in the Amended Plan, which may be amended, modified or supplemented from time to time:

•A proposed resolution of all opioid-related claims against the Company and its subsidiaries. Under the terms of the amended proposed settlement (the "Amended Proposed Opioid-Related Litigation Settlement"), which would become effective upon Mallinckrodt's emergence from the Chapter 11 process, subject to court approval and other conditions:

◦Opioid claims would be channeled to one or more trusts, which would receive $1,725.0 million in structured payments consisting of (i) a $450.0 million payment upon the Company's emergence from Chapter 11; (ii) a $200.0 million payment upon each of the first and second anniversaries of emergence; (iii) a $150.0 million payment upon each of the third through seventh anniversaries of emergence; and (iv) a $125.0 million payment upon the eighth anniversary of emergence with an eighteen-month prepayment option at a discount for all but the first payment.

◦Opioid claimants would also receive warrants for approximately 19.99% of the reorganized Company's new outstanding shares, after giving effect to the exercise of the warrants, but subject to dilution from equity reserved under the management incentive plan, exercisable at any time on or prior to the sixth anniversary of the Company's emergence, at a strike price reflecting an aggregate equity value for the reorganized Debtors of $1,551.0 million (the "New Opioid Warrants").

◦Upon commencing the Chapter 11 filing, the Company has begun to comply with an agreed-upon operating injunction with respect to the operation of its opioid business.

•A proposed resolution with the U.S. Department of Justice and other governmental parties to settle a range of litigation matters and disputes relating to Acthar Gel.

◦The Company has reached an agreement with the U.S. Department of Justice ("DOJ") and other governmental parties to settle a range of litigation matters and disputes relating to Acthar Gel (the "Proposed Acthar Gel-Related Settlement") including the Medicaid lawsuit with the Centers for Medicare and Medicaid Services ("CMS"), a related False Claims Act ("FCA") lawsuit in Boston, and an Eastern District of Pennsylvania ("EDPA") FCA lawsuit relating to Acthar Gel's previous owner's (Questcor Pharmaceuticals Inc. ("Questcor")) interactions with an independent charitable foundation. Under the Proposed Acthar Gel-Related Settlement, which was conditioned upon the Company entering the Chapter 11 restructuring process, the Company has agreed to pay $260.0 million to the DOJ and other parties over seven years and reset Acthar Gel's Medicaid rebate calculation as of July 1, 2020, such that state Medicaid programs will receive 100% rebates on Acthar Gel Medicaid sales, based on current Acthar Gel pricing. Also in connection with the Proposed Acthar Gel-Related Settlement, the Company entered into a five-year corporate integrity agreement ("CIA") with the Office of Inspector General ("OIG") of the Department of Health and Human Services ("HHS") in March 2022. As a result of these agreements, upon effectiveness of the settlement, the U.S. Government will drop its demand for approximately $640 million in retrospective Medicaid rebates for Acthar Gel and agree to dismiss the FCA lawsuit in Boston and the EDPA FCA lawsuit upon consummation of the plan of reorganization and emergence from the Chapter 11 Cases. Similarly, state and territory Attorneys General will also drop related lawsuits. In turn, the Company will dismiss its appeal of the U.S. District Court of Columbia's ("D.C. District Court") adverse decision in the Medicaid lawsuit, which was filed in the U.S. Court of Appeals for the District of Columbia ("D.C. Circuit").

Mallinckrodt has entered into the Proposed Acthar Gel-Related Settlement with the DOJ and other governmental parties solely to move past these litigation matters and disputes and does not make any admission of liability or wrongdoing.

•A modification of the Company's senior secured term loans. At the end of the court-supervised process, lenders holding allowed claims in respect of the Company's 2017 and 2018 Term Loans are expected to receive either (1) new senior secured term loans in an amount equal to the remaining principal amount of claims (as reduced by, inter alia, the excess cash flow

payment) bearing interest at a rate per annum equal to LIBOR plus 5.25% (with respect to the 2017 Term Loan) or LIBOR plus 5.50% (with respect to the 2018 Term Loan)(the "Adjusted Interest Rate"), maturing on the earlier of September 30, 2027 and 5.75 years after emergence and without any financial maintenance covenant or (2) payment in full in cash. A mandatory prepayment in an amount equal to $114.0 million arising from excess cash flow with respect to fiscal 2020 was paid to the holders of the Company's 2017 and 2018 Term Loans on March 19, 2021.

•The reinstatement or repayment of the Company's senior secured revolving credit facility. At the end of the court-supervised process, all allowed claims under such facility would be paid in full in cash with the proceeds of newly incurred debt.

•The reinstatement of the agreements associated with the Company's 10.00% first lien senior notes. At the end of the court-supervised process, all allowed claims under these agreements will be reinstated at existing rates and maturities as the applicable holders' purported make-whole claims were disallowed.

•A modification of the Company's 10.00% second lien senior notes. At the end of the court-supervised process, lenders holding allowed claims in respect of the Company's 10.00% second lien senior secured notes are expected to receive their pro rata share of new 10.00% second lien senior secured notes due 2025 that will have the same principal amount and other economic terms as the existing second lien senior secured notes.

•A restructuring of the Company's unsecured notes under the guaranteed unsecured notes indentures. At the end of the court-supervised process, holders of allowed claims under indentures governing the Guaranteed Unsecured Notes (the 5.75% Senior Notes due 2022, the 5.625% Senior Notes due 2023 and the 5.50% Senior Notes due 2025) and the Guaranteed Unsecured Notes are expected to receive their pro rata share of $375.0 million of new 10.00% second lien senior secured notes due seven years after emergence and 100% of the new Mallinckrodt ordinary shares, subject to dilution by the warrants described above and certain other equity.

•A proposed resolution of other remaining claims and treatment of equity holders. At the end of the court-supervised process, certain trade creditors and holders of other allowed general unsecured claims including holders of the 9.50% debentures due May 2022, the 8.00% debentures due March 2023 and the 4.75% senior notes due April 2023, are expected to share in $135.0 million in cash, plus other potential consideration, in accordance with the allocations as prescribed in the Amended Plan, and equity holders would receive no recovery.

On April 20, 2021, the Debtors filed a joint plan of reorganization of the Debtors (the "Original Plan") reflecting the terms of the RSA, as amended by the Joinder and Amendment and a related proposed Disclosure Statement (the “Original Disclosure Statement”). On each of June 8, 2021 (or, with respect to the Original Disclosure Statement, June 9, 2021), June 15, 2021 and June 17, 2021, the Debtors filed with the Bankruptcy Court amended versions of the Original Plan and the Original Disclosure Statement. Finally, on June 18, 2021, the Debtors filed with the Bankruptcy Court a solicitation version of the Proposed Plan, and a solicitation version of a related Disclosure Statement (the “Disclosure Statement”). Contemporaneously, the Debtors filed a motion requesting that the Bankruptcy Court (i) establish the Proposed Plan solicitation and voting procedures, (ii) approve the forms of ballots, solicitation packages, and related notices to be sent to the various creditors and interest holders in connection with confirmation of the Plan, and (iii) establish certain deadlines in connection with the approval of the disclosure statement (the “Solicitation and Voting Procedures”). On September 29, 2021, the Debtors filed the Amended Plan with the Bankruptcy Court incorporating the Amended Proposed Opioid-Related Litigation Settlement, the settlement with the UCC and the settlement with the Settling Second Lien Noteholders. The Debtors filed a third and fourth amendment to the Amended Plan on December 29, 2021 and January 6, 2022, respectively, and subsequently technical modifications to the fourth amendment on February 18, 2022, in conjunction with the plan confirmation process as described further below.

The Amended Plan and the related Disclosure Statement describe, among other things, the terms of the Amended Plan; the Debtors contemplated financial restructuring (the “Restructuring”); the events leading up to the Chapter 11 Cases; certain events that have occurred or are anticipated to occur during the Chapter 11 Cases, including solicitation of votes to approve the Proposed Plan from certain of the Debtors' creditors and certain other aspects of the Restructuring.

By order dated June 17, 2021, the Bankruptcy Court approved the Disclosure Statement and the Solicitation and Voting Procedures. Pursuant to the Solicitation and Voting Procedures, the Debtors mailed the ballots, solicitation packages and related notices by June 24, 2021, and votes were due by October 13, 2021, with exception of holders of class 8 and 9 whose votes were due October 20, 2021. In accordance with the Debtors' proposed confirmation timeline, which is subject to change by the Bankruptcy Court, a hearing to consider confirmation of the Amended Plan (which may be adjourned or extended from time to time) commenced on November 1, 2021. On February 3, 2022, the Bankruptcy Court issued a written ruling confirming the Chapter 11 plan (which was subsequently revised February 8, 2022 to make minor corrections). On March 2, 2022, the Bankruptcy Court entered the Confirmation Order. Mallinckrodt plc commenced the examinership process with the High Court of Ireland on February 14, 2022. Refer to Note 22 for further details on confirmation of the Amended Plan and the examinership process.

Event of default

The commencement of the Chapter 11 Cases above constituted an event of default under certain of the Company's debt agreements. Subject to any applicable provisions of the Bankruptcy Code, the Company's debt instruments and agreements described in Note 14 provide that, as a result of the commencement of the Chapter 11 Cases, the principal amount, together with accrued and unpaid interest thereon, and in the case of the indebtedness outstanding under the senior notes, premium, if any, thereon, shall be immediately due and payable. Accordingly, all long-term debt was classified as current on the consolidated balance sheets as of December 31, 2021 and December 25, 2020. However, any efforts to enforce payment obligations under the debt instruments are automatically stayed as a result of the Chapter 11 Cases and the creditors' rights in respect of the debt instruments are subject to the applicable provisions of the Bankruptcy Code.

Financial Reporting in Reorganization

Effective on the Petition Date, the Company began to apply Financial Accounting Standards Board Accounting Standards Codification ("ASC") Topic 852 - Reorganizations, which specifies the accounting and financial reporting requirements for entities reorganizing through Chapter 11 bankruptcy proceedings. These requirements include distinguishing transactions directly associated with the reorganization from activities related to the ongoing operations of the business within the financial statements for periods subsequent to the Petition Date. Expenses, realized gains and losses, and provisions for losses that are directly associated with reorganization proceedings must be reported separately as reorganization items, net in the consolidated statements of operations. In addition, the consolidated balance sheet must distinguish pre-petition liabilities subject to compromise ("LSTC") of the Debtors from pre-petition liabilities that are not subject to compromise, post-petition liabilities, and liabilities of the subsidiaries of the Company that are not debtors in the Chapter 11 Cases. LSTC are pre-petition obligations that are not fully secured and have at least a possibility of not being repaid at the full claim amount. Where there is uncertainty about whether a secured claim will be paid or impaired pursuant to the Chapter 11 Cases, the Debtors have classified the entire amount of the claim as LSTC.

Furthermore, the realization of assets and the satisfaction of liabilities are subject to uncertainty. While operating as debtors-in-possession, actions to enforce or otherwise effect the payment of certain claims against the Debtors in existence before the Petition Date are stayed while the Debtors continue business operations as debtors-in-possession. These claims are reflected as LSTC in the consolidated balance sheets as of December 31, 2021 and December 25, 2020. Additional claims (which could be LSTC) may arise after the Petition Date resulting from the rejection of executory contracts, including leases, and from the determination by the Bankruptcy Court (or agreement by parties-in-interest) of allowed claims for contingencies and other disputed amounts.

Certain subsidiary entities are not debtors under the Chapter 11 Cases. However, condensed combined financial statements of the Debtors are not presented in the notes to the consolidated financial statements as the assets and liabilities, operating results and cash flows of the non-debtor entities included in the consolidated financial statements are insignificant and, therefore, the consolidated financial statements presented herein materially represent the condensed combined financial statements of the debtor entities for all periods presented.

Non-debtor entity intercompany balances from/due to the debtor entities at the end of each period were:


	December 31, 2021		December 25, 2020
Intercompany receivables	$	119.1	$	282.3
Intercompany payables	112.9		120.3

The intercompany balances were primarily attributable to the Company's centralized approach to cash management and financing of its operations. The permission to continue the use of existing cash management systems during the pendency of the Chapter 11 Cases was approved by the Bankruptcy Court on a final basis as part of the First Day motions as described further above.

The Company is currently assessing whether or not it qualifies for fresh start accounting upon emergence from Chapter 11. If the Company were to meet the requirements to adopt the fresh start accounting rules, its assets and liabilities would be recorded at fair value as of the fresh start reporting date, which may differ materially from the recorded values of assets and liabilities on its consolidated balance sheets as of December 31, 2021 and December 25, 2020.

Liabilities Subject to Compromise

As a result of the commencement of the Chapter 11 Cases, the payment of pre-petition liabilities is subject to compromise or other treatment pursuant to a plan of reorganization. Generally, actions to enforce or otherwise effect payment of pre-petition liabilities are stayed. Although payment of pre-petition claims generally is not permitted, the Bankruptcy Court granted the Debtors the authority to pay certain pre-petition claims in designated categories and subject to certain terms and conditions. This relief generally was designed to preserve the value of the Debtors' business and assets. As described above, among other things, the Bankruptcy Court authorized,

but did not require, the Debtors to pay certain pre-petition claims relating to employee wages and benefits, critical and foreign vendors and customer programs.

The determination of how liabilities will ultimately be settled or treated cannot be made until the confirmed Chapter 11 plan of reorganization becomes effective. Accordingly, the ultimate amount of such liabilities is not determinable at this time. Pre-petition liabilities that are subject to compromise to be reported at the amounts expected to be allowed by the Bankruptcy Court, even if they may be settled for different amounts. The amounts currently classified as LSTC are preliminary and may be subject to future adjustments depending on Bankruptcy Court actions, further developments with respect to disputed claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, rejection of executory contracts, continued reconciliation or other events.

Liabilities subject to compromise at the end of each period consisted of the following:


	December 31, 2021		December 25, 2020
Accounts payable (1)	$	42.9	$	61.9
Accrued interest	35.2		35.2
Debt (2)	3,750.8		1,660.7
Environmental liabilities (3)	52.0		—

Medicaid lawsuit	634.7		638.9
Opioid-related litigation settlement liability (4)	1,725.0		1,600.0
Other current and non-current liabilities (5)	125.1		163.5
Pension and postretirement benefits	32.0		32.4
Total liabilities subject to compromise	$	6,397.7	$	4,192.6

(1)Pre-petition accounts payable balances have been repaid under effectuated trade agreements pursuant to the critical vendor motion approved by the Bankruptcy Court.

(2)Subsequent to December 25, 2020, in accordance with the agreement in principle reached with the Settling Second Lien Noteholders on September 2, 2021 and Joinder and Amendment to the RSA entered into in March 2021, $322.9 million of Second Lien Notes and $1,767.2 million of outstanding senior secured term loans, respectively, were classified as LSTC in the Company's consolidated balance sheet as of December 31, 2021.

(3)Represents certain environmental liabilities intended to be discharged upon effectiveness of the plan of reorganization.

(4)In accordance with the agreement in principle reached with the Opioid Claimants on September 2, 2021, and subsequently memorialized in the Amended Plan on September 29, 2021, the Company recorded an accrual of $125.0 million related to the additional payment expected to be made on the eighth anniversary of the effective date of emergence, which has been classified as LSTC in the Company's consolidated balance sheet as of December 31, 2021.

(5)The decrease in other current and non-current liabilities was attributable to (1) the Bankruptcy Court's approval of the Company's rejection of its Bedminster facility lease, which resulted in a $34.8 million adjustment to the carrying value of the respective lease liability in LSTC to reflect the estimated allowed claim amount and (2) a decrease of $15.6 million in the fair value of contingent consideration related to MNK-6105 and MNK-6106 . These decreases were partially offset by an increase of $17.3 million related to Acthar Gel royalty accruals as a result of the December 2021 Bankruptcy Court ruling, which found that the Acthar Insurance Claimants' (as defined in Note 19) administrative claims were without merit. The remaining change in other current and non-current liabilities was attributable to various increases and decreases as a result of adjustments in the ordinary course of business.

Contractual interest

While the Chapter 11 Cases are pending, the Company is not accruing interest on its unsecured debt instruments as of the Petition Date on a go-forward basis, as the Debtors do not anticipate making interest payments due under their respective unsecured debt instruments; however, the Debtors expect to pay all interest payments in full as they come due under their respective senior secured debt instruments. The total aggregate amount of interest payments due under the Company's unsecured debt instruments for fiscal 2021 and 2020, which it did not pay was $93.0 million and $28.8 million, respectively.

Chapter 11 Claims Process

The Debtors have received over 50,000 proofs of claim since the Petition Date. The Debtors continue their review and analysis of certain claims including litigation claims, trade creditor claims, non-qualified benefit plan claims, customer deposits and advances, along with other tax and regulatory claims, and therefore, the ultimate liability of the Debtors for such claims may differ from the amount recorded in LSTC. To the extent that the Debtors believe that such claims will be allowed by the Bankruptcy Court, the Debtors will continue to record the expected allowed amounts of such claims as LSTC. The determination of the expected allowed amount of a claim is based on many factors, including whether the Debtors are party to a settlement agreement with applicable claimholders or their representatives, and is not necessarily limited to information available to the Debtors. Claims covered by a settlement agreement include the Proposed Acthar Gel-Related Settlement and Amended Proposed Opioid-Related Litigation Settlement (collectively, the "Proposed Settlements"). See Restructuring Support Agreement and Plan of Reorganization section within this note for more information on settlement of these claims. As the Debtors continue to resolve claims, differences between those final allowed claims and the liabilities recorded in the consolidated balance sheet will be recognized as reorganization items, net

in the Company's consolidated statements of operations in the period in which they are resolved. The determination of how liabilities will ultimately be resolved cannot be made until the plan of reorganization is consummated or the Bankruptcy Court approves orders related to settlement of specific liabilities. Accordingly, the ultimate amount or resolution of such liabilities is not determinable at this time. The resolution of such claims could result in substantial adjustments to the Company's financial statements.

Reorganization items, net

Reorganization items, net, represent amounts incurred after the Petition Date as a direct result of the Chapter 11 Cases and are comprised of bankruptcy-related professional fees and adjustments to reflect the carrying value of LSTC at their estimated allowed claim amounts, as such adjustments are approved by the Bankruptcy Court. Cash paid for reorganization items, net for fiscal 2021 and 2020 was $333.1 million and $8.7 million, respectively. Reorganization items, for fiscal 2021 and 2020 include the following:


	Fiscal Year
	2021		2020
Professional fees	$	405.6	$	51.1
Debt valuation adjustments	23.1		10.2
Adjustments of other claims	(0.5)		0.1
Total reorganization items, net	$	428.2	$	61.4

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies


3.			Summary of Significant Accounting Policies

Liabilities Subject to Compromise

As a result of the commencement of the Chapter 11 Cases, the payment of pre-petition liabilities is subject to compromise or other treatment pursuant to a plan of reorganization. The determination of how liabilities will ultimately be settled or treated cannot be made until the confirmed Chapter 11 plan of reorganization becomes effective. Accordingly, the ultimate amount of such liabilities is not determinable at this time. Pre-petition liabilities that are subject to compromise are to be reported at the amounts expected to be allowed by the Bankruptcy Court, even if they may be settled for different amounts. The amounts currently classified as LSTC are preliminary and may be subject to future adjustments depending on Bankruptcy Court actions, further developments with respect to disputed claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, rejection of executory contracts, continued reconciliation or other events.

Revenue Recognition

Product Sales Revenue

The Company sells its products through independent channels, including direct to retail pharmacies, end user customers and through distributors who resell the products to retail pharmacies, institutions and end user customers, while certain products are sold and distributed directly to hospitals. The Company also enters into arrangements with indirect customers, such as health care providers and payers, wholesalers, government agencies, institutions, managed care organizations and group purchasing organizations to establish contract pricing for certain products that provide for government-mandated and/or privately-negotiated rebates, sales incentives, chargebacks, distribution service agreements fees, fees for services and administration fees and discounts with respect to the purchase of the Company's products.

Reserve for Variable Considerations

Product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established. These reserves result from estimated chargebacks, rebates, product returns and other sales deductions that are offered within contracts between the Company and its customers, health care providers and payers relating to the sale of the Company's products. These reserves are based on the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable (if the amount is payable to the customer) or a current liability (if the amount is payable to a party other than a customer). Where appropriate, these estimates take into consideration a range of possible outcomes that are probability-weighted for relevant factors such as the Company's historical experience, estimated future trends, estimated customer inventory levels, current contracted sales terms with customers, level of utilization of the Company's products and other competitive factors. Overall, these reserves reflect the Company's best estimate of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration that is included in the transaction price may be constrained (reduced) and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. The Company adjusts reserves for chargebacks, rebates, product returns and other sales deductions to reflect differences between estimated and actual experience. Such adjustments impact the amount of net sales recognized in the period of adjustment.

Product sales are recognized when the customer obtains control of the Company's product. Control is transferred either at a point in time, generally upon delivery to the customer site, or in the case of certain of the Company's products, over the period in which the customer has access to the product and related services. Revenue recognized over time is based upon either consumption of the product or passage of time based upon the Company's determination of the measure that best aligns with how the obligation is satisfied. The Company's considerations of why such measures provide a faithful depiction of the transfer of its products are as follows:

•For those contracts whereby revenue is recognized over time based upon consumption of the product, the Company either has:

1.the right to invoice the customer in an amount that directly corresponds with the value to the customer of the Company's performance to date, for which the practical expedient to recognize in proportion to the amount it has the right to invoice has been applied, or

2.the remaining goods and services to which the customer is entitled is diminished upon consumption.

•For those contracts whereby revenue is recognized over time based upon the passage of time, the benefit that the customer receives from unlimited access to the Company's product does not vary, regardless of consumption. As a result, the Company's obligation diminishes with the passage of time; therefore, ratable recognition of the transaction price over the contract period is the measure that best aligns with how the obligation is satisfied.

Transaction price allocated to the remaining performance obligations

The majority of the Company's contracts have a term of less than one year; therefore, the related disclosure of the amount of transaction price allocated to the performance obligations that are unsatisfied at period end has been omitted.

Cost to obtain a contract

As the majority of the Company's contracts are short-term in nature, sales commissions are generally expensed when incurred as the amortization period would have been less than one year. These costs are recorded within selling, general and administrative expense ("SG&A") in the consolidated statements of operations. For contracts that extend beyond one year, the incremental expense recognition matches the recognition of related revenue.

Costs to fulfill a contract

The Company capitalizes the costs associated with the devices used in the Company's portfolio of drug-device combination products, which are used in satisfaction of future performance obligations. Capital expenditures for these devices represent cash outflows for the Company's cost to produce the asset, which is classified in property, plant and equipment, net on the consolidated balance sheets and expensed to cost of sales over the useful life of the equipment.

Product Royalty Revenues

The Company licenses certain rights to Amitiza® (lubiprostone) ("Amitiza") to third parties in exchange for royalties on net sales of the product. The Company recognizes such royalty revenue as the related sales occur.

Contract Balances

Accounts receivable are recorded when the right to consideration becomes unconditional. Payments received from customers are typically based upon payment terms of 30 days. The Company does not maintain contract asset balances aside from the accounts receivable balance as presented on the consolidated balance sheets as costs to obtain a contract are expensed when incurred as the amortization period would have been less than one year. These costs are recorded within SG&A on the consolidated statements of operations. Contract liabilities are recorded when cash payments are received in advance of the Company's performance, including amounts that are refundable.

Taxes collected from customers relating to product sales and remitted to governmental authorities are accounted for on a net basis. Accordingly, such taxes are excluded from both net sales and expenses.

Shipping and Handling Costs

Shipping costs, which are costs incurred to physically move product from the Company's premises to the customer's premises, are classified as SG&A. Handling costs, which are costs incurred to store, move and prepare product for shipment, are classified as cost of sales. Shipping costs included in SG&A expenses in continuing operations were as follows:


	Fiscal Year
	2021		2020		2019
Shipping costs	$	23.6	$	20.1	$	17.6

Research and Development

Internal research and development costs are expensed as incurred. Research and development ("R&D") expenses include salary and benefits, allocated overhead and occupancy costs, clinical trial and related clinical manufacturing costs, contract services, medical affairs and other costs.

From time to time, the Company has entered into licensing or collaborative agreements with third parties to develop a new drug candidate or intellectual property asset. These agreements may include R&D, marketing, promotion and selling activities to be performed by one or all parties involved. These collaborations generally include upfront, milestone and royalty or profit sharing payments contingent upon future events tied to the developmental and commercial success of the asset. In general, upfront and milestone payments made to third parties under these agreements are expensed as incurred up to the point of regulatory approval of the product. Milestone payments made to third parties upon regulatory approval are capitalized as an intangible asset and amortized to cost of sales over the estimated useful life of the related product.

Currency Translation

For the Company's non-U.S. subsidiaries that transact in a functional currency other than U.S. dollars, assets and liabilities are translated into U.S. dollars using fiscal year-end exchange rates. Revenues and expenses are translated at the average exchange rates in effect during the related month. The net effect of these translation adjustments is shown in the consolidated financial statements as a component of accumulated other comprehensive loss. From time to time, the Company has entered into derivative instruments to mitigate the exposure of movements in certain of these foreign currency transactions. Gains and losses resulting from foreign currency transactions are included in net loss.

Cash and Cash Equivalents

The Company classifies cash on hand and deposits in banks, including commercial paper, money market accounts and other investments it may hold from time to time, with an original maturity to the Company of three months or less, as cash and cash equivalents.

Accounts Receivable and Allowance for Doubtful Accounts

Trade accounts receivable are presented net of an allowance for doubtful accounts. The allowance for doubtful accounts reflects an estimate of losses inherent in the Company's accounts receivable portfolio determined on the basis of historical experience, current facts and circumstances, reasonable and supportable forecasts and other available evidence. Accounts receivable are written off when management determines they are uncollectible. Trade accounts receivable are also presented net of reserves related to chargebacks and rebates payable to customers with whom the Company has trade accounts receivable and the right of offset exists.

Inventories

Inventories are recorded at the lower of cost or net realizable value, primarily using the first-in, first-out convention. The Company reduces the carrying value of inventories for those items that are potentially excess, obsolete or slow-moving based on changes in customer demand, technology developments or other economic factors.

Property, Plant and Equipment

Property, plant and equipment is stated at cost less accumulated depreciation and impairment. Major renewals and improvements are capitalized, while routine maintenance and repairs are expensed as incurred. Depreciation for property, plant and equipment, other than land and construction in process, is generally based upon the following estimated useful lives, using the straight-line method:


Buildings	10	to	45 years
Leasehold improvements	1	to	20 years
Capitalized software	1	to	10 years
Machinery and equipment	1	to	20 years

The Company capitalizes certain computer software and development costs incurred in connection with developing or obtaining software for internal use.

Upon retirement or other disposal of property, plant and equipment, the cost and related amount of accumulated depreciation are eliminated from the asset and accumulated depreciation accounts, respectively. The difference, if any, between the net asset value and the proceeds is included in net loss.

The Company assesses the recoverability of assets or asset groups using undiscounted cash flows whenever events or circumstances indicate that the carrying value of an asset or asset group may not be recoverable. If an asset or asset group is found to be impaired, the amount recognized for impairment is equal to the difference between the carrying value of the asset or asset group and its fair value.

Leases

The Company assesses all contracts at inception to determine whether a lease exists. The Company leases office space, manufacturing and warehousing facilities, equipment and vehicles, which are generally operating leases. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are accounted for separately. The Company's lease agreements generally do not contain variable lease payments or any material residual value guarantees.

Lease assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term as of the commencement date. As the Company's leases do not generally provide an implicit rate, the Company utilizes its incremental borrowing rate based on the information available at commencement date in determining the present value of future lease payments. Most leases include one or more options to terminate or renew, with renewal terms that can extend the lease term from one to five years. The exercise of lease renewal options is at the Company's sole discretion. Termination and renewal options are included within the lease assets and liabilities only to the extent they are reasonably certain.

Acquisitions

Amounts paid for acquisitions that meet the criteria for business combination accounting are allocated to the tangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The Company then allocates the purchase price in excess of net tangible assets acquired to identifiable intangible assets, including purchased R&D. The fair value of identifiable intangible assets is based on detailed valuations. The Company allocates any excess purchase price over the fair value of the net tangible and intangible assets acquired to goodwill.

The Company's purchased R&D represents the estimated fair value as of the acquisition date of in-process projects that have not reached technological feasibility. The primary basis for determining technological feasibility of these projects is obtaining regulatory approval.

The fair value of in-process research and development ("IPR&D") is determined using the discounted cash flow method. In determining the fair value of IPR&D, the Company considers, among other factors, appraisals, the stage of completion of the projects, the technological feasibility of the projects, whether the projects have an alternative future use and the estimated residual cash flows that could be generated from the various projects and technologies over their respective projected economic lives. The discount rate used includes a rate of return that accounts for the time value of money, as well as risk factors that reflect the economic risk that the cash flows projected may not be realized.

The fair value attributable to IPR&D projects at the time of acquisition is capitalized as an indefinite-lived intangible asset and tested annually for impairment until the project is completed or abandoned. Upon completion of the project, the indefinite-lived intangible asset is then accounted for as a finite-lived intangible asset and amortized on a straight-line basis over its estimated useful life. If the project is abandoned, the indefinite-lived intangible asset is charged to expense.

Certain asset acquisitions or license agreements may not meet the criteria for a business combination. The Company accounts for these transactions as asset acquisitions and recognizes the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquired entity. Any initial up-front payments incurred in connection with the acquisition or licensing of IPR&D product candidates that do not meet the definition of a business are treated as R&D expense.

Intangible Assets

Intangible assets acquired in a business combination are recorded at fair value, while intangible assets acquired in other transactions are recorded at cost. Intangible assets with finite useful lives are subsequently amortized, generally using the straight-line method, over the estimated useful lives of the assets. The estimated useful lives of the Company's intangible assets as of December 31, 2021 were the following:


Completed technology	9	to	25 years
License agreements			30 years
Trademarks	22	to	30 years

Amortization expense related to completed technology and certain other intangible assets is included in cost of sales, while amortization expense related to intangible assets that contribute to the Company's ability to sell, market and distribute products is included in SG&A.

When a triggering event occurs, the Company evaluates potential impairment of finite-lived intangible assets by first comparing undiscounted cash flows associated with the asset, or the asset group they are part of, to its carrying value. If the carrying value is greater than the undiscounted cash flows, the amount of potential impairment is measured by comparing the fair value of the assets, or asset group, with their carrying value. The fair value of the intangible asset, or asset group, is estimated using an income approach. If the fair value is less than the carrying value of the intangible asset, or asset group, the amount recognized for impairment is equal to the difference between the carrying value of the asset and the fair value of the asset. The Company assesses the remaining useful life and the recoverability of finite-lived intangible assets whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. The Company annually tests the indefinite-lived intangible assets for impairment, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable by either a qualitative or income approach. The Company will compare the fair value of the assets with their carrying value and record an impairment when the carrying value exceeds the fair value.

Contingencies

The Company is subject to various legal proceedings and claims, including government investigations, environmental matters, product liability matters, patent infringement claims, antitrust matters, securities class action lawsuits, personal injury claims, employment disputes, contractual and other commercial disputes, and other legal proceedings, in the ordinary course of business as further discussed in Note 19. The Company records accruals for contingencies when it is probable that a liability has been incurred and the amount can be reasonably estimated. The Company discounts environmental liabilities using a risk-free rate of return when the obligation is fixed or reasonably determinable. The impact of the discount in the consolidated balance sheets was not material in any period presented. Legal fees, other than those pertaining to environmental and asbestos matters, are expensed as incurred. Insurance recoveries related to potential claims are recognized up to the amount of the recorded liability when coverage is confirmed and the estimated recoveries are probable of payment. Assets and liabilities are not netted for financial statement presentation.

Share-Based Compensation

The Company recognizes the cost of employee services received in exchange for awards of equity instruments based on the grant-date fair value of those awards. That cost is recognized over the period during which an employee is required to provide service in exchange for the award, the requisite service period (generally the vesting period).

Restructuring

The Company recognizes charges associated with the Company's Board of Directors approved restructuring programs designed to transform its business and improve its cost structure. Restructuring charges can include severance costs, infrastructure charges, distributor contract cancellations and other items. The Company accrues for costs when they are probable and reasonably estimable.

Income Taxes

Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been reflected in the consolidated financial statements. Deferred tax assets and liabilities are determined based on the differences between the book and tax bases of assets and liabilities and operating loss carryforwards, using tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is provided to reduce net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The Company determines whether it is more likely than not that a tax position will be sustained upon examination. The tax benefit of any tax position that meets the more-likely-than-not recognition threshold is calculated as the largest amount that is more than 50.0% likely of being realized upon resolution of the uncertainty. To the extent a full benefit is not expected to be realized on the uncertain tax position, an income tax liability, or a reduction to a deferred tax asset is established. Interest and penalties on income tax obligations, associated with uncertain tax positions, are included in the provision for income taxes.

The calculation of the Company's tax liabilities involves dealing with uncertainties in the application of complex tax regulations in a multitude of jurisdictions across the Company's global operations. Due to the complexity of some of these uncertainties, the

ultimate resolution may result in a payment that is materially different from current estimates of the tax liabilities. If the Company's estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If payment of these amounts ultimately proves to be less than the recorded amounts, the reversal of the liabilities may result in income tax benefits being recognized in the period when it is determined that the liabilities are no longer necessary. Refer to Note 8 for further information regarding the classification of such amounts in the consolidated balance sheets.

Revenue from Contracts with Customers (Notes)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer


4.			Revenue from Contracts with Customers

Product Sales Revenue

See Note 21 for presentation of the Company's net sales by product family.

Reserves for variable consideration

On November 16, 2020, the Debtors received final approval from the Bankruptcy Court to continue customer programs during the pendency of the Chapter 11 Cases. The following table reflects activity in the Company's sales reserve accounts:


	Rebates and Chargebacks		Product Returns		Other Sales Deductions		Total
Balance as of December 28, 2018	$	354.3	$	34.0	$	17.1	$	405.4
Provisions	2,347.3		22.2		68.2		2,437.7
Payments or credits	(2,405.8)		(27.8)		(72.1)		(2,505.7)
Balance as of December 27, 2019	295.8		28.4		13.2		337.4
Provisions	2,065.9		28.9		59.5		2,154.3
Provision for Medicaid lawsuit (Note 19) (1)	536.0		—		—		536.0
Payments or credits	(2,701.2)		(30.7)		(60.4)		(2,792.3)
Balance as of December 25, 2020	196.5		26.6		12.3		235.4
Provisions	2,087.1		23.7		55.2		2,166.0
Payments or credits	(2,041.8)		(28.8)		(58.0)		(2,128.6)
Balance as of December 31, 2021	$	241.8	$	21.5	$	9.5	$	272.8

(1)Excludes the $105.1 million that is reflected as a component of operating expenses as it represents a pre-acquisition contingency related to the portion of the liability that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor in August 2014. See Note 19 for further detail on the status of the Medicaid lawsuit.

Product sales transferred to customers at a point in time and over time were as follows:


	Fiscal Year
	2021		2020		2019
Product sales transferred at a point in time	79.4	%	78.9	%	81.8	%
Product sales transferred over time	20.6		21.1		18.2

Transaction price allocated to the remaining performance obligations

The following table includes estimated revenue from contracts extending greater than one year for certain of the Company's hospital products that are expected to be recognized in the future related to performance obligations that were unsatisfied or partially unsatisfied as of December 31, 2021:


Fiscal 2022	$	112.1
Fiscal 2023	69.7
Thereafter	14.7

Costs to fulfill a contract

For both December 31, 2021 and December 25, 2020, the total net book value of the devices used in the Company's portfolio of drug-device combination products, which are used in satisfying future performance obligations and reflected in property, plant and equipment, net, on the consolidated balance sheets was $25.8 million. The associated depreciation expense recognized during fiscal 2021 and 2020 was $6.1 million and $5.5 million, respectively.

Product Royalty Revenues

The Company licenses certain rights to Amitiza to third parties in exchange for royalties on net sales of the product. The Company receives a double-digit royalty based on a percentage of the gross profits of the licensed products sold during the term of the agreements. The Company recognizes such royalty revenue as the related sales occur. The associated royalty revenue recognized during fiscal 2021, 2020 and 2019 was $102.4 million, $70.3 million and $81.3 million, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Discontinued Operations (Notes)

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure


5.			Discontinued Operations and Divestitures

Discontinued Operations

Nuclear Imaging: The Company received a total of $9.0 million in contingent consideration in both fiscal 2020 and 2019, respectively, related to the 2017 sale of the Nuclear Imaging business, consisting primarily of the issuance of $9.0 million par value non-voting preferred equity certificates. The preferred equity certificates accrued interest at a rate of 10.0% per annum and were redeemable on the retirement date of July 27, 2025, or earlier if elected by the issuer, for cash at a price equal to the par value and any accrued but unpaid interest. Interest was able to be paid on an annual basis in additional preferred equity certificates. The receipt of the preferred equity certificates are presented as a non-cash investing activity on the consolidated statements of cash flows for fiscal 2020 and 2019. In December 2020, the issuer elected to redeem 100% of the outstanding preferred equity certificates, and the Company received a cash payment of $32.5 million, which included $29.8 million for the outstanding preferred equity certificates and $2.7 million for accrued interest receivable through the redemption date. In addition, during fiscal 2021 and 2020, a tax benefit of $5.1 million and $18.1 million, comprised of tax and interest on unrecognized tax benefits related to the Nuclear Imaging business, was recognized due to a lapse of statutes of limitations.

Divestitures

The below businesses did not meet the criteria for discontinued operations classification and accordingly were included in continuing operations for all periods presented.

BioVectra: In November 2019, the Company completed the sale of its wholly owned subsidiary BioVectra to an affiliate of H.I.G. Capital for total consideration of up to $250.0 million, including an upfront payment of $135.0 million and contingent consideration of $115.0 million based on long-term performance of the business. During fiscal 2019, the Company recorded a loss on the sale of $33.5 million, which excluded any potential proceeds from future milestones, in the event they are achieved.

PreveLeak/Recothrom: In March 2018, the Company completed the sale of a portion of its Hemostasis business, inclusive of its PreveLeak™ Surgical Sealant and RECOTHROM® Thrombin topical (Recombinant) ("Recothrom") products to Baxter International Inc. During fiscal 2020, the Company recorded a $16.5 million gain on divestiture related to certain commercial milestones for the Recothrom product.

Acquisitions and License Agreements

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Acquisitions and License Agreements


6.			License Agreements

Silence Therapeutics

In July 2019, the Company entered into a license and collaboration agreement with Silence Therapeutics plc ("Silence") to develop and commercialize ribonucleic acid interference ("RNAi") drug targets designed to inhibit the complement cascade, a group of proteins that are involved in the immune system and that play a role in the development of inflammation and made an upfront payment of $20.0 million, recorded within R&D expense. Under the terms of the agreement, the Company obtained an exclusive worldwide license to Silence's SLN501 silencing therapy. Silence will be responsible for preclinical activities, and for executing the development program until the end of Phase 1, after which the Company will assume clinical development and responsibility for global commercialization.

Advanced Accelerator Applications

In 2007, the Company's Nuclear Imaging business entered into a license agreement with BioSynthema, Inc. ("BioSynthema"), which was subsequently amended in 2010 when Advanced Accelerator Applications ("AAA") acquired BioSynthema. Pursuant to the amended agreement, upon the first commercial sale of Lutathera® ("Lutathera"), AAA was to provide the Company with a royalty based on net sales of the product through January 1, 2020. In early 2018, the U.S. Food and Drug Administration ("FDA") approved Lutathera for treatment of gastroenteropancreatic neuroendocrine tumors and commercial sales commenced. During fiscal 2019, in relation to this agreement, the Company recognized royalty income of $39.0 million, which was recognized within other income, net in the consolidated statement of operations.

Restructuring and Related Charges

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Charges


7.			Restructuring and Related Charges

During fiscal 2021, 2018 and 2016, the Company launched restructuring programs designed to improve its cost structure. Charges of $50.0 million to $100.0 million were provided for under the 2021 program and $100.0 million to $125.0 million were provided for under the 2018 and 2016 programs. Each program will generally commence upon substantial completion of the previous program. The 2021 program has not commenced as of December 31, 2021 and there is no specified time period associated with this program. In addition to the aforementioned restructuring programs, the Company has taken restructuring actions to generate synergies from its acquisitions.

Net restructuring and related charges by segment were as follows:


	Fiscal Year
	2021		2020		2019
Specialty Brands	$	0.1	$	0.1	$	(13.7)
Specialty Generics	4.9		0.1		10.0
Corporate	24.0		49.6		2.0
Restructuring and related charges, net	29.0		49.8		(1.7)
Less: accelerated depreciation	(2.1)		(12.3)		—
Restructuring charges, net	$	26.9	$	37.5	$	(1.7)

Net restructuring and related charges by program from continuing operations were comprised of the following:


	Fiscal Year
	2021		2020		2019
2018 Program	$	29.0	$	52.0	$	9.8
2016 Program	—		(0.3)		(10.6)
Acquisition programs	—		(1.9)		(0.9)
Total programs	29.0		49.8		(1.7)
Less: non-cash charges, including accelerated depreciation	(6.3)		(23.8)		—
Total charges expected to be settled in cash	$	22.7	$	26.0	$	(1.7)

The following table summarizes cash activity for restructuring reserves, substantially all of which related to contract termination costs, employee severance and benefits and exiting of certain facilities:


	2018 Program		2016 Program		Acquisition Programs		Total
Balance as of December 28, 2018	$	2.2	$	61.0	$	7.8	$	71.0
Charges from continuing operations	11.2		4.0		0.1		15.3
Changes in estimate from continuing operations	(1.4)		(14.6)		(1.0)		(17.0)
Cash payments	(9.3)		(13.1)		(2.4)		(24.8)
Reclassifications (1)	—		(5.0)		(4.3)		(9.3)
Currency translation and other	—		(1.0)		—		(1.0)
Balance as of December 27, 2019	2.7		31.3		0.2		34.2
Charges from continuing operations	28.6		0.1		—		28.7
Changes in estimate from continuing operations	(0.4)		(0.4)		(1.9)		(2.7)
Cash payments	(20.1)		(30.7)		(0.2)		(51.0)
Reclassifications (2)	(10.0)		—		—		(10.0)
Currency translation and other	0.2		(0.3)		1.9		1.8
Balance as of December 25, 2020	1.0		—		—		1.0
Charges from continuing operations	23.7		—		—		23.7
Changes in estimate from continuing operations	(1.0)		—		—		(1.0)
Cash payments	(12.8)		—		—		(12.8)


Balance as of December 31, 2021	$	10.9	$	—	$	—	$	10.9

(1)Represents the reclassification of lease liabilities, net to lease liabilities and lease assets, which are reflected within other liabilities and other assets on the consolidated balance sheet, due to the adoption of Accounting Standard Update (ASU) 2016-02.

(2)Represents the reclassification of certain restructuring reserve balances to LSTC as a result of the Company rejecting certain of its executory contracts.

As of December 31, 2021, net restructuring and related charges incurred cumulative to date were as follows:


	2018 Program (1)		2016 Program (2)
Specialty Brands	$	3.1	$	68.1
Specialty Generics	15.0		14.6

Corporate	77.9		28.6
	$	96.0	$	111.3

(1)There is no specified time period associated with this restructuring program.

(2)The 2016 Program was completed in fiscal 2020.

All of the restructuring reserves were included in accrued and other current liabilities on the Company's consolidated balance sheets. Amounts paid in the future may differ from the amount currently recorded.

Income Taxes

12 Months Ended

Dec. 25, 2020

Income Tax Disclosure [Abstract]

Income Taxes


8.			Income Taxes

The domestic and international components(1) of loss from continuing operations before income taxes were as follows:


	Fiscal Year
	2021		2020		2019
Domestic	$	(512.2)	$	(656.9)	$	(75.3)
International	(317.6)		(303.9)		(1,516.2)
Total	$	(829.8)	$	(960.8)	$	(1,591.5)

(1) Domestic reflects Ireland in fiscal 2021 and 2020, and U.K. in fiscal 2019.

Significant components(1) of income taxes related to continuing operations are as follows:


	Fiscal Year
	2021		2020		2019
Current:
Domestic	$	(33.7)	$	0.1	$	0.1
International	(12.7)		(375.4)		21.7
Current income tax (benefit) provision	(46.4)		(375.3)		21.8
Deferred:
Domestic	(59.5)		102.2		(1.1)
International	(0.4)		282.0		(605.0)
Deferred income tax (benefit) provision	(59.9)		384.2		(606.1)
Total	$	(106.3)	$	8.9	$	(584.3)

(1) Domestic reflects Ireland in fiscal 2021 and 2020, and the U.K. in fiscal 2019.

The domestic current income tax provision reflects a tax benefit of $2.2 million, $0.2 million and $1.2 million from using net operating loss ("NOL") carryforwards for fiscal 2021, 2020 and 2019, respectively. For fiscal 2021 and 2020, domestic reflects Ireland; and for fiscal 2019, domestic reflects the U.K. The international current income tax provision reflects a tax benefit of $1.2 million, $33.4 million and $0.9 million from using NOL carryforwards for fiscal 2021, 2020 and 2019, respectively. The fiscal 2020 international current income tax provision also included a tax benefit of $1.0 million related to refundable credits and a tax benefit of $281.5 million related to carryback claims. The international credit utilization is comprised of credit carryforwards.

During fiscal 2021, net cash refunds for income taxes were $160.0 million, and during fiscal 2020 and 2019, net cash payments for income taxes were $39.9 million and $30.7 million, respectively. Included within the net cash refunds of $160.0 million were refunds of $178.8 million received as a result of the provisions in the Coronavirus Aid, Relief and Economic Security ("CARES") Act and net payments of $18.8 million related to operational activity.

The reconciliation between domestic income taxes at the statutory rate and the Company's provision for income taxes on continuing operations is as follows:


	Fiscal Year
	2021		2020		2019
Benefit for income taxes at domestic statutory income tax rate (1)	$	(103.7)	$	(120.1)	$	(302.4)
Adjustments to reconcile to income tax provision:
Rate difference between domestic and international jurisdictions (2)	(224.9)		(315.3)		(206.3)
Adjustments to accrued income tax liabilities and uncertain tax positions (3)	(9.7)		16.7		(18.7)


Credits, principally research and orphan drug	(4.7)		(11.2)		(13.5)

Permanently nondeductible and nontaxable items (4)	9.8		2.8		98.1

Divestitures (5)	—		—		9.6
U.S. Tax Reform (6)	—		(281.5)		—
Legal entity reorganization (6)	—		82.0		(212.8)
Separation costs	—		8.4		—
Reorganization items, net	36.9		8.8		—
Other	0.3		0.1		—
Valuation allowances (4)	189.7		618.2		61.7
(Benefit) provision for income taxes	$	(106.3)	$	8.9	$	(584.3)

(1)The statutory tax rate reflects the Irish statutory tax rate of 12.5% for fiscal 2021 and 2020, and the U.K. statutory tax rate of 19.0% for fiscal 2019.

(2)For fiscal 2019, includes the impact of certain recurring valuation allowances for domestic and international jurisdictions.

(3)Includes interest and penalties on accrued income tax liabilities and uncertain tax positions.

(4)For fiscal 2021, the permanently nondeductible and nontaxable items were primarily driven by the opioid-related litigation settlement loss that is partially permanently nondeductible. For fiscal 2020, an expense of $204.9 million was included as a discrete valuation allowance on certain net deferred tax assets that were no longer more likely than not realizable due to the Company's substantial doubt about its ability to continue as a going concern, further explained within Note 1. For fiscal 2019, the valuation allowances and permanently nondeductible and nontaxable item were primarily driven by the impact from the opioid-related litigation settlement charge that is partially permanently nondeductible, further explained within Note 19. Additional valuation allowance impacts are netted within other line items, as referenced in the associated footnotes to this table.

(5)The Company completed the sale of its wholly-owned subsidiary BioVectra in November 2019.

(6)Associated unrecognized tax benefit and valuation allowance are netted within this line.

The rate difference between domestic and international jurisdictions changed to $224.9 million of tax benefit for fiscal 2021 from $315.3 million of tax benefit for fiscal 2020. Of the $90.4 million decrease in the tax benefit, $48.9 million of the decrease is attributable to the Medicaid lawsuit and $92.9 million of decrease is predominately attributable to changes in the jurisdictional mix of operating loss resulting from the fiscal 2020 reorganization of the Company's intercompany financing and associated asset and legal entity ownership, partially offset by $27.6 million of an increase attributable to reorganization items, $13.2 million of an increase attributable to non-restructuring impairment charges and $10.6 million of an increase attributable to the opioid-related litigation settlement loss.

The Company's valuation allowance tax expense was $189.7 million for fiscal 2021, compared to $618.2 million for fiscal 2020. Of the $428.5 million decrease in tax expense, $288.9 million of decrease was attributable to operational activity in applicable tax jurisdictions that are fully offset by a valuation allowance and $204.9 million of decrease was attributable to the discrete valuation allowance recorded in fiscal 2020 on certain beginning-of-the-year net deferred tax assets, partially offset by a $65.3 million increase attributable to deferred remeasurement as a result of tax rate changes. The valuation allowance tax expense mainly offsets impacts included within the benefit for income taxes at the domestic statutory income tax rate and the rate difference between domestic and international jurisdictions.

The rate difference between domestic and international jurisdictions was $315.3 million of tax benefit for fiscal 2020, compared to $206.3 million of tax benefit for fiscal 2019. Of the $109.0 million increase in the tax benefit, $92.7 million of the increase resulted from presenting the impact of recurring valuation allowances within the rate difference between domestic and international jurisdictions in fiscal 2019 and within valuation allowances in fiscal 2020 and an increase of $48.9 million was attributable to the Medicaid lawsuit; partially offset by a $79.0 million decrease attributable to the fiscal 2019 gain on debt extinguishment, a $60.9 million decrease attributable to the fiscal 2019 opioid-related settlement loss and a $30.0 million decrease attributable to changes in operating loss. The remaining $137.3 million increase was predominately attributable to the change in the referenced rate from the U.K. statutory rate of 19.0% to the Irish statutory rate of 12.5%.

The following table summarizes the activity related to the Company's unrecognized tax benefits, excluding interest:


	Fiscal Year
	2021		2020		2019
Balance at beginning of period	$	349.0	$	398.6	$	287.7
Additions related to current year tax positions	—		71.1		123.5
Additions related to prior period tax positions	9.3		9.8		19.2
Reductions related to prior period tax positions	(2.8)		(14.2)		(5.7)

Settlements	(0.2)		(80.3)		(1.0)
Lapse of statutes of limitations	(21.8)		(36.0)		(25.1)
Balance at end of period	$	333.5	$	349.0	$	398.6

Unrecognized tax benefits, excluding interest, were reported in the following consolidated balance sheet captions in the amounts shown:


	December 31, 2021		December 25, 2020
Other assets (1)	$	255.7	$	256.4

Other income tax liabilities	64.1		83.2
Deferred income taxes	13.7		9.4
	$	333.5	$	349.0

(1)Included as a reduction to deferred tax assets.

Included within total unrecognized tax benefits as of December 31, 2021, December 25, 2020 and December 27, 2019 were $77.0 million, $85.9 million and $395.9 million, respectively, of unrecognized tax benefits, which if favorably settled would benefit the effective tax rate, of which approximately $20.0 million related to discontinued operations in fiscal 2019. The remaining unrecognized tax benefits are reflected as a write-off of related other tax assets. If these unrecognized tax benefits were recognized, they would be offset by a valuation allowance in fiscal 2021 and 2020. During fiscal 2021 and 2020, due to a lapse of statutes of limitations, $5.1 million and $18.1 million of tax and interest on unrecognized tax benefits related to the Nuclear Imaging business were eliminated, and a benefit of $5.1 million and $18.1 million was recorded in discontinued operations within the consolidated statement of operations, respectively. During fiscal 2021, the Company recorded $6.4 million of additional interest and penalties through tax provision and decreased accrued interest and penalties by $4.2 million related to prior period reductions, settlements and lapse of statutes of limitations. During fiscal 2020 and 2019, the Company had a net decrease of interest and penalties activity of $16.2 million and $4.2 million, respectively. The total amount of accrued interest and penalties related to uncertain tax positions was $18.9 million, $16.7 million and $32.9 million, respectively.

It is reasonably possible that within the next twelve months the unrecognized tax benefits could decrease by up to $139.2 million and the amount of related interest and penalties could decrease by up to $17.2 million as a result of payments or releases due to the resolution of examinations, appeals and litigation, successful emergence from Chapter 11 and the expiration of various statutes of limitation.

Certain of the Company's subsidiaries continue to be subject to examination by taxing authorities. The earliest open years subject to examination for various jurisdictions, including Ireland, the U.S., Japan, Luxembourg, Switzerland and the U.K. are from 2013 to present and the earliest open year for the U.S. state tax jurisdictions is 2009.

Income taxes payable, including uncertain tax positions and related interest accruals, was reported in the following consolidated balance sheet captions in the amounts shown:


	December 31, 2021		December 25, 2020
Accrued and other current liabilities	$	1.7	$	26.5
Other income tax liabilities	83.2		100.1
	$	84.9	$	126.6

Tax receivables were included in the following consolidated balance sheet captions in the amounts shown:


	December 31, 2021		December 25, 2020
Other assets	$	141.3	$	139.4
Prepaid expenses and other current assets	36.5		188.7
	$	177.8	$	328.1

Deferred income taxes result from temporary differences between the amount of assets and liabilities recognized for financial reporting and tax purposes. The components of the net deferred tax asset (liability) at the end of each fiscal year were as follows:


	December 31, 2021		December 25, 2020
Deferred tax assets:


Tax loss and credit carryforward	$	4,147.5	$	4,026.0
Capital tax loss carryforward and related assets	1,605.0		1,600.1

Opioid-related litigation settlement liability	294.7		269.3
Excess interest	159.5		150.7
Other	292.2		294.9
	6,498.9		6,341.0
Deferred tax liabilities:

Intangible assets	(108.5)		(191.2)

Investment in partnership	(67.1)		(74.8)
Other	—		(44.8)
	(175.6)		(310.8)
Net deferred tax asset before valuation allowances	6,323.3		6,030.2
Valuation allowances	(6,344.2)		(6,110.8)
Net deferred tax liability	$	(20.9)	$	(80.6)

The net deferred tax asset before valuation allowances was $6,323.3 million as of December 31, 2021, compared to $6,030.2 million as of December 25, 2020. This increase was due to a $178.8 million increase predominately related to tax loss and credit carryforward additions and current and prior years' operational activity, a $21.4 million increase associated with the opioid-related litigation settlement liability and a $92.9 million increase associated with intangible assets.

The deferred tax asset valuation allowances of $6,344.2 million and $6,110.8 million as of December 31, 2021 and December 25, 2020, respectively, relate both to the Company's substantial doubt about its ability to continue as a going concern, as well as the uncertainty of the utilization of certain deferred tax assets, driven by domestic and international net operating and capital losses, credits, intangible assets and the opioid-related litigation settlement liability.

Net deferred tax liabilities of $20.9 million and $80.6 million were included in deferred income taxes on the consolidated balance sheets as of December 31, 2021 and December 25, 2020, respectively.

As of December 31, 2021, the Company had approximately $4,024.0 million of NOL carryforwards in certain international jurisdictions measured at the applicable statutory rates, of which $1,851.3 million have no expiration and the remaining $2,172.7 million will expire in future years through 2042. As of December 31, 2021, the Company had $39.5 million of domestic NOL carryforwards measured at the applicable statutory rates, which have no expiration date.

As of December 31, 2021, the Company had $184.7 million of capital loss carryforwards in certain international jurisdictions measured at the applicable statutory rates, which will expire in future years through 2026. As of December 31, 2021, the Company had approximately $969.5 million of domestic capital loss carryforwards measured at the applicable statutory rates, which have no expiration date.

As of December 31, 2021, the Company also had $83.9 million of tax credits available to reduce future income taxes payable, in international jurisdictions, of which $2.3 million have no expiration and the remainder will expire in future years through 2042.

As of December 31, 2021, the Company's financial reporting basis in subsidiaries that may be subject to tax was in excess of its corresponding tax basis by $12.1 million. Such excess amount is considered to be indefinitely reinvested and it is not practicable to determine the cumulative amount of tax liability that would arise if this indefinitely reinvested amount were realized due to a variety of factors including the complexity of the Company's legal entity structure as well as the timing, extent, and nature of any hypothetical realization.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Earnings (Loss) per Share

12 Months Ended

Dec. 31, 2021

Earnings (Loss) per Share [Abstract]

Earnings (Loss) per Share


9.			Loss per Share

Loss per share is computed by dividing net loss by the number of weighted-average shares outstanding during the period. Dilutive securities, including participating securities, have not been included in the computation of loss per share as the Company reported a net loss from continuing operations during all periods presented below and therefore, the impact would have been anti-dilutive.

The weighted-average number of shares outstanding used in the computations of both basic and diluted loss per share were as follows (in millions):


	Fiscal Year
	2021	2020	2019
Basic	84.7	84.5	83.9

The computation of diluted weighted-average shares outstanding for fiscal 2021, 2020 and 2019 excluded approximately 5.2 million, 5.6 million and 6.3 million, respectively, shares of equity awards because the effect would have been anti-dilutive.

Inventories

12 Months Ended

Dec. 31, 2021

Inventory, Net [Abstract]

Inventories


10.			Inventories

Inventories were comprised of the following at the end of each period:


	December 31, 2021		December 25, 2020
Raw materials	$	59.8	$	58.1
Work in process	196.4		200.7
Finished goods	91.0		86.1
Inventories	$	347.2	$	344.9

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


11.			Property, Plant and Equipment

The gross carrying amount and accumulated depreciation of property, plant and equipment were comprised of the following at the end of each period:


	December 31, 2021		December 25, 2020
Land	$	43.5	$	43.6
Buildings	387.8		416.9
Capitalized software	121.1		134.0
Machinery and equipment	1,254.1		1,260.4
Construction in process	80.1		56.0
	1,886.6		1,910.9
Less: accumulated depreciation	(1,110.6)		(1,077.8)
Property, plant and equipment, net	$	776.0	$	833.1

Depreciation expense was as follows:


	Fiscal Year
	2021		2020		2019
Depreciation expense	$	94.7	$	114.0	$	97.7

Leases (Notes)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lessee, Operating Leases


12.			Leases

As a result of the Chapter 11 Cases, certain of the Company's lease liabilities were classified as LSTC as of December 25, 2020 due to rejection of executory contracts. Refer to Note 2 for further information on LSTC.

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


	December 31, 2021		December 25, 2020
Other assets	$	35.0	$	58.6

Accrued and other current liabilities	$	11.1	13.0
Other liabilities	20.0		28.0
Other current and non-current liabilities subject to compromise	0.4		31.9
Total lease liabilities	$	31.5	$	72.9

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:


	Fiscal Year
	2021		2020		2019
Lease cost:
Operating lease cost	$	19.6	$	21.2	$	21.3
Short-term lease cost	1.1		1.1		3.5
Variable lease cost	2.4		3.1		—
Total lease cost	$	23.1	$	25.4	$	24.8

Lease terms and discount rates were as follows:


	December 31, 2021		December 25, 2020
Weighted-average remaining lease term (in years) - operating lease	5.7		6.1
Weighted-average discount rate - operating leases	4.4	%	3.9	%

Contractual maturities of operating lease liabilities as of December 31, 2021 were as follows:


Fiscal 2022	$	14.7
Fiscal 2023	11.0
Fiscal 2024	7.9
Fiscal 2025	4.5
Fiscal 2026	2.8
Thereafter	2.9
Total lease payments	43.8
Less: Interest	(12.3)
Present value of lease liabilities	31.5
Less: Amounts reclassified to liabilities subject to compromise	(0.4)
Present value of lease liabilities not subject to compromise	$	31.1

Other supplemental cash flow information related to leases were as follows:


	Fiscal Year
	2021		2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	20.4	$	23.1	$	23.2
Lease assets obtained in exchange for lease obligations:
Operating leases	2.6		6.9		7.3

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets


13.			Intangible Assets

Intangible Assets

The gross carrying amount and accumulated amortization of intangible assets were comprised of the following at the end of each period:


	December 31, 2021				December 25, 2020
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable:
Completed technology	$	10,404.0	$	5,160.4	$	10,394.6	$	4,586.6
License agreements	120.1		82.1		120.1		78.1
Trademarks	77.7		26.9		77.7		23.5


Total	$	10,601.8	$	5,269.4	$	10,592.4	$	4,688.2
Non-Amortizable:
Trademarks	$	35.0			$	35.0
In-process research and development	81.0				245.3
Total	$	116.0			$	280.3

The Company recorded impairment charges related to its Specialty Brands segment totaling $154.9 million, $63.5 million and $388.0 million during fiscal 2021, 2020 and 2019, respectively. The valuation method used to approximate fair value in each of these periods was based on the estimated discounted cash flows for the respective asset. The fiscal 2021 impairment charge included a partial impairment of $90.4 million related to Amitiza, as discussed further below, and a full impairment of $64.5 million related to MNK-6105 and MNK-6106 as the Company decided it would no longer pursue further development of this IPR&D asset. The fiscal 2020 impairment charge related to Ofirmev® (acetaminophen) injection ("Ofirmev") and was primarily driven by a change in the estimate of the asset's useful life resulting in its undiscounted cash flow being less than its net book value. The fiscal 2019 impairment charge included $274.5 million related to VTS-270, primarily driven by continued regulatory challenges, and $113.5 million related to stannsoporfin as a result of the Company ending the development program.

Amitiza

During the three months ended December 31, 2021, due to lower anticipated cash flows expected from Amitiza, the Company identified a triggering event with respect to the associated intangible asset within the Specialty Brands segment and assessed the recoverability of the definite-lived asset. The Company determined that the undiscounted cash flows related to the Amitiza intangible asset were less than its net book value, which required the Company to record an impairment charge for the difference between the fair value of the Amitiza intangible asset and its net book value. In connection with this analysis, the Company concluded that the sum of the years digits method, an accelerated method of amortization, on a prospective basis (beginning with the first quarter of fiscal 2022) would more accurately reflect the consumption of the economic benefits over the remaining useful life of the asset.

The Company determined the fair value of the Amitiza intangible asset using the income approach, a level three measurement technique. For purposes of determining fair value, the Company made various assumptions regarding estimated future cash flows, the discount rate and other factors in determining the fair value of the intangible asset. The Company's projections in relation to the Amitiza intangible asset included long-term net sales and operating income at lower than historical levels. These changes in assumptions resulted in a fair value of the Amitiza intangible asset that was less than its net book value. Therefore, the Company recorded an impairment charge of $90.4 million.

StrataGraft®

On June 15, 2021, the Company announced that the FDA had approved the StrataGraft biologics license application (BLA) for the treatment of adults with deep partial-thickness burns. Upon FDA approval, the Company transferred the total $99.8 million of asset value from non-amortized, indefinite-lived acquired IPR&D product rights to amortizable, finite-lived completed technology and will begin amortization of the asset in tandem with the first commercial shipment of the product during the first quarter of fiscal 2022. Concurrent with the approval of StrataGraft, the FDA granted the Company a Priority Review Voucher ("PRV"). A PRV is a voucher that may be used to obtain an accelerated FDA review of one of the Company's future products or sold to a third party to obtain accelerated review of one of its future products.

Terlipressin

During September 2020, the FDA issued a Complete Response Letter ("CRL") regarding the Company's New Drug Application ("NDA") seeking approval for the investigational agent terlipressin to treat adults with hepatorenal syndrome type 1 ("HRS-1"). The CRL stated that, based on the available data, the agency cannot approve the terlipressin NDA in its current form and requires more information to support a positive risk-benefit profile for terlipressin for patients with HRS-1.

In response to receipt of the CRL, the Company had an End of Review Meeting on October 26, 2020 and a Type A Meeting on January 29, 2021 with the FDA where both parties engaged in constructive dialogue in an effort to clarify a viable path to approval. On August 18, 2021, the Company resubmitted its NDA for terlipressin to the FDA and on February 18, 2022 (the Prescription Drug User Fee Act, or "PDUFA date"), the FDA issued a CRL. In the weeks leading up to the PDUFA date, it became necessary for the Company to identify a new packaging and labeling manufacturing facility, which meant that an inspection by the FDA could not be completed by the PDUFA date. A satisfactory inspection is required before the NDA can be approved. This is the only outstanding issue noted in the CRL, and it is important to note that there were no safety or efficacy issues cited. The Company remains committed to this critically ill patient population, who currently have no approved treatment option in the U.S for HRS-1 and believes that there is a path to approval in 2022. The Company will continue to assess the impact of any changes to planned revenue or earnings on the fair value of the associated in-process research and development asset of $81.0 million included within intangible assets, net on the consolidated balance sheets as of December 31, 2021 and December 25, 2020.

The Company annually tests the indefinite-lived intangible assets for impairment, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable by either a qualitative or income approach. Management relies on a number of qualitative factors when considering a potential impairment such as changes to planned revenue or earnings that could affect significant inputs used to determine the fair value of the indefinite-lived intangible asset.

Intangible asset amortization expense

Intangible asset amortization expense was as follows:


	Fiscal Year
	2021		2020		2019
Amortization expense	$	581.1	$	771.2	$	853.4

The estimated aggregate amortization expense on intangible assets owned by the Company and being amortized as of December 31, 2021, is expected to be as follows:


Fiscal 2022	$	605.3
Fiscal 2023	585.1
Fiscal 2024	564.8
Fiscal 2025	543.1
Fiscal 2026	517.2

Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt Disclosure


14.			Debt

The commencement of the Chapter 11 Cases constituted an event of default under certain of the Company's debt agreements. Accordingly, all debt not reclassified as LSTC with original long-term stated maturities was classified as current on the consolidated balance sheets as of December 31, 2021 and December 25, 2020. However, any efforts to enforce payment obligations under the debt instruments are automatically stayed as a result of the Chapter 11 Cases and the creditors' rights in respect of the debt instruments are subject to the applicable provisions of the Bankruptcy Code. See Note 2 for further information.

Debt was comprised of the following at the end of each period:


	December 31, 2021				December 25, 2020
	Principal		Unamortized Discount and Debt Issuance Costs (1)		Principal		Unamortized Discount and Debt Issuance Costs
Secured debt:
Term loan due September 2024	$	1,396.5	$	—	$	1,505.2	$	12.3
Term loan due February 2025	370.7		—		399.5		5.0
10.00% first lien senior notes due April 2025	495.0		5.9		495.0		7.7
10.00% second lien senior notes due April 2025	322.9		—		322.9		8.0
Revolving credit facility	900.0		0.2		900.0		1.7
Total secured debt	3,485.1		6.1		3,622.6		34.7
Unsecured debt:
9.50% debentures due May 2022	10.4		—		10.4		—
5.75% senior notes due August 2022	610.3		—		610.3		—
8.00% debentures due March 2023	4.4		—		4.4		—
4.75% senior notes due April 2023	133.7		—		133.7		—
5.625% senior notes due October 2023	514.7		—		514.7		—
5.50% senior notes due April 2025	387.2		—		387.2		—
Total unsecured debt:	1,660.7		—		1,660.7		—
Total debt, prior to reclassification to liabilities subject to compromise	5,145.8		6.1		5,283.3		34.7
Less: Current portion	(1,395.0)		(6.1)		(3,622.6)		(34.7)
Less: Amounts reclassified to liabilities subject to compromise (2)	(3,750.8)		—		(1,660.7)		—
Total long-term debt, net of current portion	$	—	$	—	$	—	$	—

(1)As a result of the Company's Chapter 11 Cases, the Company expensed $23.1 million and $10.2 million of unamortized discount and debt issuance costs, net, recorded in reorganization items, net in the consolidated statements of operations for fiscal 2021 and 2020, respectively.

(2)In connection with the Company's Chapter 11 Cases, $3,750.8 million and $1,660.7 million of outstanding debt instruments have been classified as LSTC in the Company's consolidated balance sheets as of December 31, 2021 and December 25, 2020, respectively. Up to the Petition Date, the Company continued to accrue interest expense in relation to the unsecured debt instruments classified as LSTC. The Company continues to accrue and pay interest on the outstanding secured debt instruments classified as LSTC in conjunction with the cash collateral order. Refer to Note 2 for further information.

Mallinckrodt International Finance S.A. ("MIFSA") is a wholly owned subsidiary of the Company. MIFSA functions as a holding company, established to own, directly or indirectly, substantially all of the operating subsidiaries of the Company, as well as to issue debt securities and to perform treasury operations.

In April 2013, MIFSA issued a $600.0 million aggregate principal amount of 4.75% senior unsecured notes due April 2023 (the "April 2023 Notes"). Mallinckrodt plc has fully and unconditionally guaranteed the April 2023 Notes on an unsecured and unsubordinated basis. The April 2023 Notes are subject to an indenture which contains covenants limiting the ability of MIFSA, its restricted subsidiaries (as defined in the April 2023 Notes) and Mallinckrodt plc, as guarantor, to incur certain liens or enter into sale and lease-back transactions. It also restricts Mallinckrodt plc and MIFSA's ability to merge or consolidate with any other person or sell or convey all or substantially all of their assets to any one person. MIFSA may redeem all of the April 2023 Notes at any time, and some of the April 2023 Notes from time to time, at a redemption price equal to the principal amount of the April 2023 Notes redeemed plus a make-whole premium. The Company pays interest on the April 2023 Notes semiannually in arrears on April 15th and October 15th of each year, which commenced on October 15, 2013.

In August 2014, MIFSA and Mallinckrodt CB LLC ("MCB") (the "Issuers") issued $900.0 million aggregate principal amount of 5.75% senior unsecured notes due August 2022 (the "2022 Notes”). The 2022 Notes are guaranteed by Mallinckrodt plc and each of its subsidiaries that guarantee the obligations under the Senior Secured Credit Facilities (as defined below). The 2022 Notes are subject to an indenture that contains certain customary covenants and events of default (subject in certain cases to customary grace and cure periods). The occurrence of an event of default under the indenture could result in the acceleration of the 2022 Notes and could cause a cross-default that could result in the acceleration of other indebtedness of Mallinckrodt plc and its subsidiaries. The Issuers may redeem some or all of the 2022 Notes at specified redemption prices. The Issuers are obligated to offer to repurchase the 2022

Notes at a price of (a) 101% of their principal amount plus accrued and unpaid interest, if any, as a result of certain change of control events and (b) 100% of their principal amount plus accrued and unpaid interest of net proceeds from certain asset sales. These obligations are subject to certain qualifications and exceptions. The Company pays interest on the 2022 Notes semiannually in arrears on February 1st and August 1st of each year, which commenced on February 1, 2015.

In April 2015, in connection with the Company's acquisition of Ikaria, Inc. ("Ikaria"), MIFSA and MCB issued $700.0 million aggregate principal amount of 4.875% senior unsecured notes due April 2020 (the "2020 Notes") and $700.0 million aggregate principal amount of 5.50% senior unsecured notes due April 2025 (the "2025 Notes", and together with the 2020 Notes, the "Ikaria Notes"). The Ikaria Notes are guaranteed by Mallinckrodt plc and each of its subsidiaries that guarantee the obligations under the Senior Secured Credit Facilities (as defined below), which following the acquisition of Ikaria includes Compound Holdings II, Inc. (or its successors) and its U.S. subsidiaries. The Ikaria Notes are subject to an indenture that contains certain customary covenants and events of default (subject in certain cases to customary grace and cure periods). The occurrence of an event of default under the indenture could result in the acceleration of the Ikaria Notes and could cause a cross-default that could result in the acceleration of other indebtedness of the Company. The Issuers may redeem some or all of the 2025 Notes prior to April 15, 2020 by paying a “make-whole” premium. The Issuers may redeem some or all of the (i) 2020 Notes and (ii) 2025 Notes on or after April 15, 2020, in each case, at specified redemption prices. The Issuers are obligated to offer to repurchase the Ikaria Notes (a) at a price of 101% of their respective principal amount plus accrued and unpaid interest, if any, as a result of certain change of control events and (b) at a price of 100% of their respective principal amount plus accrued and unpaid interest of net proceeds from certain asset sales. These obligations are subject to certain qualifications and exceptions. The Company pays interest on the Ikaria Notes semiannually on April 15th and October 15th of each year, which commenced on October 15, 2015.

In September 2015, in connection with the Company's acquisition of Therakos, Inc. ("Therakos"), MIFSA and MCB issued $750.0 million aggregate principal amount of 5.625% senior unsecured notes due October 2023 (the “October 2023 Notes”). The October 2023 Notes are guaranteed by Mallinckrodt plc and each of its subsidiaries under the Senior Secured Credit Facilities (as defined below), which following the acquisition of Therakos, includes TGG Medical Solutions, Inc. (or its successors) and its U.S. subsidiaries. The October 2023 Notes are subject to an indenture that contains certain customary covenants and events of default (subject in certain cases to customary grace and cure periods). The occurrence of an event of default under the indenture could result in the acceleration of the October 2023 Notes and could cause a cross-default that could result in the acceleration of other indebtedness of the Company. The issuers may call some or all of the October 2023 Notes at specified redemption prices. The issuers may also redeem all, but not less than all, of the October 2023 Notes at any time at a price of 100% of their principal amount, plus accrued and unpaid interest, if any, in the event the issuers become obligated to pay additional amounts as a result of changes affecting certain withholding tax laws applicable to payments on the October 2023 Notes. The Issuers are obligated to offer to repurchase the October 2023 Notes (a) at a price of 101% of their principal amount plus accrued and unpaid interest, if any, as a result of certain change of control events and (b) at a price of 100% of their principal amount plus accrued and unpaid interest of net proceeds from certain asset sales. These obligations are subject to certain qualifications and exceptions. The Company pays interest on the October 2023 Notes semiannually on April 15th and October 15th of each year, which commenced on April 15, 2016.

In February 2017, MIFSA and MCB refinanced certain then-outstanding outstanding term loans. The refinanced term loan had an initial aggregate principal amount of $1,865.0 million, is due September 2024 and, pursuant to its terms, bears interest at a per annum rate equal to LIBOR plus 2.75%, subject to certain adjustments (the "2017 Term Loan"). The 2017 Term Loan requires quarterly principal amortization payments in an amount equal to 0.25% of the original principal balance of the 2017 Term Loan, which may be reduced by making optional prepayments. The quarterly principal amortization is payable on the last day of each calendar quarter, which commenced on June 30, 2017, with the remaining balance due September 2024.

In conjunction with the term loan refinancing, MIFSA and MCB entered into a $900.0 million revolving credit facility that matures on February 28, 2022 (the "Revolving Credit Facility"), replacing, and increasing the commitments under, an existing revolving credit facility. Efforts to enforce payment obligations under the Revolving Credit Facility were automatically stayed during the pendency of the Chapter 11 Cases. The Revolving Credit Facility bears interest at a per annum rate equal to LIBOR plus 2.25% and contains a $50.0 million letter of credit provision, of which none had been issued as of December 31, 2021. Unused commitments on the Revolving Credit Facility are subject to an annual commitment fee, which was 0.275% as of December 31, 2021, and the fee applied to outstanding letters of credit is based on the interest rate applied to borrowings. The Revolving Credit Facility added certain wholly owned subsidiaries of the Company as borrowers, in addition to MIFSA and MCB.

In July 2017, Mallinckrodt Securitization S.à r.l. ("Mallinckrodt Securitization"), a wholly owned special purpose subsidiary of the Company, entered into a $250.0 million accounts receivable securitization facility ("the Receivable Securitization") with PNC Bank, National Association, as administrative agent, and Mallinckrodt LLC, a wholly owned subsidiary of the Company, as initial servicer (the "Servicer"). Loans under the Receivable Securitization bore interest (including facility fees) at a rate equal to one month LIBOR rate plus a margin of 0.90%. In July 2019, the Company repaid all $200.0 million of then-outstanding obligations under the Receivables Securitization. Upon payment in full of such outstanding obligations under the Receivable Securitization, the $250.0 million receivables securitization program was automatically terminated (including (i) the Receivable Securitization, (ii) the Amended and Restated Purchase and Sale Agreement, dated as of July 28, 2017 (as amended, the "Purchase and Sale Agreement"), among certain wholly owned subsidiaries of the Company, the Servicer, and Mallinckrodt Securitization, (iii) the Sale Agreements (together,

the "Sale Agreements"), between Mallinckrodt LLC and certain subsidiaries of the Company and (iv) all agreements and documents entered into in connection therewith, and all security interests, liens or other rights securing the receivables securitization program were automatically released and terminated. Certain indemnification and other obligations in the Receivable Securitization, the Purchase and Sale Agreement, the Sale Agreements and the documents related thereto, which by their terms expressly survive termination of such documents, will survive the termination of Mallinckrodt Securitization's receivables securitization program.

In February 2018, in connection with the Sucampo Acquisition, MIFSA and MCB issued a $600.0 million senior secured term loan due February 2025 (the "2018 Term Loan"). Pursuant to its terms, the 2018 Term Loan bears interest at a per annum rate equal to LIBOR plus 3.00%, subject to certain potential adjustments. The 2018 Term Loan requires quarterly principal amortization payments in an amount equal to 0.25% of the original principal balance of the 2018 Term Loan, which may be reduced by making optional prepayments. The quarterly principal amortization is payable on the last day of each calendar quarter, which commenced on June 30, 2018.

The 2017 Term Loan, 2018 Term Loan and Revolving Credit Facility (collectively the "Senior Secured Credit Facilities") are fully and unconditionally guaranteed by Mallinckrodt plc, certain of its direct or indirect wholly owned U.S. subsidiaries and each of its direct or indirect wholly owned subsidiaries that owns directly or indirectly any such wholly owned U.S. subsidiaries and certain of its other subsidiaries (collectively, the "Guarantors"). The Senior Secured Credit Facilities are secured by a security interest in certain assets of MIFSA, MCB and the Guarantors. The Senior Secured Credit Facilities contain customary affirmative and negative covenants, which include, among other things, restrictions on the Company's ability to declare or pay dividends, create liens, incur additional indebtedness, enter into sale and lease-back transactions, make investments, dispose of assets and merge or consolidate with any other person.

In December 2019, upon the terms and conditions set forth in a confidential offering memorandum dated November 5, 2019, the Issuers, completed private offers to exchange (the "2019 Exchange Offers") (i) $83.2 million of the 2020 Notes issued by the Issuers for $70.2 million of new 10.00% Second Lien Senior Secured Notes due April 2025 to be issued by the Issuers (the "Second Lien Notes") and (ii) $52.9 million of the 2022 Notes, $216.4 million of the April 2023 Notes, $144.7 million of the October 2023 Notes and $208.9 million of the 2025 Notes issued by the Issuers (collectively, and together with the 2020 Notes, the "Existing Notes") for $252.7 million of Second Lien Notes. The Second Lien Notes are subject to an indenture that contains customary covenants and events of default (subject in certain cases to customary grace and cure periods). The Second Lien Notes are secured by a second lien security interest in all collateral that currently secures the Senior Secured Credit Facilities, subject to certain exceptions. The Second Lien Notes are guaranteed by each entity that currently guarantees Mallinckrodt plc's senior secured notes, subject to certain exceptions. The Issuers may redeem any or all of the Second Lien Notes at any time at specified redemption prices. The Issuers are obligated to (a) offer to repurchase all of the Second Lien Notes at a price of 101% of their principal amount plus accrued and unpaid interest, if any, upon the occurrence of certain change of control events and (b) offer to repurchase Second Lien Notes with the net proceeds of certain asset sales at a price equal to 100% of their principal amount plus accrued and unpaid interest, if any. These obligations are subject to certain qualifications and exceptions.

The Company accounted for the 2019 Exchange Offers as a debt extinguishment, which resulted in the extinguishment of $383.2 million of principal of Existing Notes and the transfer of $322.9 million of Existing Notes to Second Lien Notes. The exchanges also resulted in the capitalization of $10.1 million of deferred financing fees related to the Second Lien Notes. In conjunction with the exchanges, the Company recorded a gain on debt extinguishment of $377.4 million primarily associated with retiring a portion of its Existing Notes at less than face value, net of the write-off of associated deferred financing fees of $4.9 million.

On April 7, 2020, the Company, Mallinckrodt International Finance S.A. and Mallinckrodt CB LLC (the "Exchange Issuers") entered into an exchange agreement (the “Exchange Agreement”) with certain third parties (collectively, the “Exchanging Holders”). Pursuant to the Exchange Agreement, the Exchanging Holders agreed to exchange with the Exchange Issuers, on April 7, 2020, their holdings of 2020 Notes (consisting of approximately $495.0 million aggregate principal amount of the 2020 Notes) for new 10.00% First Lien Senior Secured Notes due 2025 issued by the Exchange Issuers (the “First Lien Notes”), at a rate of $1,000 of First Lien Notes for every $1,000 of 2020 Notes exchanged (such exchange, the “Exchange”). The Exchange Issuers and Exchanging Holders consummated the Exchange on April 7, 2020.

The First Lien Notes are subject to an indenture that contains customary covenants and events of default (subject in certain cases to customary grace and cure periods). The First Lien Notes are secured by a first lien security interest in all collateral that currently secures the Senior Secured Credit Facilities, subject to certain exceptions. The First Lien Notes are guaranteed by each entity that currently guarantees the Senior Secured Credit Facilities, subject to certain exceptions. The Issuers may redeem any or all of the First Lien Notes at any time at specified redemption prices. The Issuers are obligated to (a) offer to repurchase all of the First Lien Notes at a price of 101% of their principal amount plus accrued and unpaid interest, if any, upon the occurrence of certain change of control events and (b) offer to repurchase First Lien Notes with the net proceeds of certain asset sales at a price equal to 100% of their principal amount plus accrued and unpaid interest, if any. These obligations are subject to certain qualifications and exceptions.

On April 15, 2020, the Company paid in full the remaining approximately $119.8 million in principal amount of outstanding 2020 Notes at the maturity thereof with cash on hand.

As of December 31, 2021, the applicable interest rate and outstanding borrowings on the Company's variable-rate debt instruments were as follows:


	Applicable interest rate (1)		Outstanding borrowings
Term loan due September 2024	6.00	%	$	1,396.5
Term loan due February 2025	6.25		370.7
Revolving credit facility	4.42		900.0

(1)Includes the incremental 200 basis points and 250 basis points related to the cash adequate protection payments for the revolving credit facility and senior secured term loans, respectively. Refer to Note 2 for further information.

The commencement of the Chapter 11 Cases on October 12, 2020 constituted an event of default under certain of the Company's debt agreements. Accordingly, all long-term debt not subject to compromise was classified as current on the consolidated balance sheet as of December 31, 2021. The Company's stated long-term debt principal maturity amounts as of December 31, 2021 are as follows:


Fiscal 2022	$	1,539.2
Fiscal 2023	671.3
Fiscal 2024	1,371.1
Fiscal 2025	1,564.2

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Retirement Plans

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Retirement Plans


15.			Retirement Plans

Defined Benefit Plans

The Company sponsors a number of defined benefit retirement plans covering certain of its U.S. employees and non-U.S. employees. As of December 31, 2021, U.S. plans represented 36.1% of the Company's remaining projected benefit obligation. The Company generally does not provide postretirement benefits other than retirement plan benefits for its employees; however, certain of the Company's U.S. employees participate in postretirement benefit plans that provide medical benefits. These plans are unfunded.

On November 16, 2020, the Debtors received approval from the Bankruptcy Court to maintain foreign pension benefit plans and certain postretirement benefit plans during the pendency of the Chapter 11 Cases. As such, these obligations are not classified as LSTC on the consolidated balance sheets as of December 31, 2021 and December 25, 2020. For further information refer to Note 2.

The net periodic benefit cost (credit) for the Company's pension and postretirement benefit plans was as follows:


	Pension Benefits						Postretirement Benefits
	Fiscal Year						Fiscal Year
	2021		2020		2019		2021		2020		2019
Service cost	$	0.2	$	0.2	$	0.1	$	—	$	—	$	—
Interest cost	0.3		0.5		0.7		0.7		1.2		1.6

Amortization of net actuarial loss	0.9		0.7		0.5		0.2		—		—
Amortization of prior service cost (credit)	0.1		0.1		0.2		(2.1)		(2.1)		(2.1)


Net periodic benefit cost (credit)	$	1.5	$	1.5	$	1.5	$	(1.2)	$	(0.9)	$	(0.5)

The following table represents the changes in benefit obligations and the net amounts recognized on the consolidated balance sheets for pension and postretirement benefit plans at the end of each period:


	Pension Benefits				Postretirement Benefits
	December 31, 2021		December 25, 2020		December 31, 2021		December 25, 2020
Change in benefit obligations:
Projected benefit obligations at beginning of year	$	29.4	$	27.0	$	40.1	$	40.5
Service cost	0.2		0.2		—		—
Interest cost	0.3		0.5		0.7		1.2
Actuarial (gain) loss	(0.9)		1.8		(1.7)		1.2
Benefits and administrative expenses paid	(0.7)		(1.5)		(1.8)		(2.8)
Plan settlements	—		(0.1)		—		—


Currency translation	(1.0)		1.5		—		—
Projected benefit obligations at end of year	$	27.3	$	29.4	$	37.3	$	40.1


	Pension Benefits				Postretirement Benefits
	December 31, 2021		December 25, 2020		December 31, 2021		December 25, 2020
Amounts recognized on the consolidated balance sheet:

Current liabilities	$	0.8	$	0.8	$	1.7	$	1.9
Non-current liabilities	16.7		18.9		13.4		15.5
Liabilities subject to compromise	9.8		9.7		22.2		22.7
Net amount recognized on the consolidated balance sheet	$	27.3	$	29.4	$	37.3	$	40.1

Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	$	(9.7)	$	(11.8)	$	(0.1)	$	(2.0)
Prior service (cost) credit	—		(0.1)		1.7		3.8
Net amount recognized in accumulated other comprehensive loss	$	(9.7)	$	(11.9)	$	1.6	$	1.8

The estimated amounts that will be amortized from accumulated other comprehensive loss into net periodic benefit cost (credit) in fiscal 2022 are as follows:


	Pension Benefits		Postretirement Benefits
Amortization of net actuarial loss (gain)	$	0.6	$	(0.1)
Amortization of prior service credit	—		(1.7)

Actuarial Assumptions

Weighted-average assumptions used each period to determine net periodic benefit cost for the Company's pension plans were as follows:


	U.S. Plans						Non-U.S. Plans
	Fiscal Year						Fiscal Year
	2021		2020		2019		2021		2020		2019
Discount rate	1.8	%	2.8	%	4.0	%	1.0	%	1.3	%	2.0	%

Rate of compensation increase	—		—		—		2.5		2.5		2.5

Weighted-average assumptions used each period to determine benefit obligations for the Company's pension plans were as follows:


	U.S. Plans						Non-U.S. Plans
	Fiscal Year						Fiscal Year
	2021		2020		2019		2021		2020		2019
Discount rate	2.3	%	1.8	%	2.8	%	1.3	%	1.0	%	1.3	%
Rate of compensation increase	—		—		—		2.5		2.5		2.5

For the Company's unfunded U.S. plans, the discount rate is based on the market rate for a broad population of AA-rated (Moody's Investor Services, Inc. or Standard & Poor's Corporation) corporate bonds over $250.0 million. For the Company's U.S. plans that were funded in prior periods, the discount rate was based on the estimated final settlement discount rates based on quotes received from a group of well-rated insurance carriers who are active in the single premium group annuity marketplace. The group of insurance carriers are rated A or better by AM best.

The weighted-average discount rate used to determine net periodic benefit credit and obligations for the Company's postretirement benefit plans were as follows:


	Fiscal Year
	2021		2020		2019
Net periodic benefit credit	2.0	%	3.0	%	4.1	%
Benefit obligations	2.5		2.0		3.0

Healthcare cost trend assumptions for postretirement benefit plans were as follows:


	December 31, 2021		December 25, 2020
Healthcare cost trend rate assumed for next fiscal year	5.7	%	5.8	%
Rate to which the cost trend rate is assumed to decline	4.5		4.5
Fiscal year the ultimate trend rate is achieved	2038		2038

Contributions

The Company's funding policy is to make contributions in accordance with the laws and customs of the various countries in which the Company operates, as well as to make discretionary voluntary contributions from time to time. In fiscal 2021 and 2020 the Company made $0.7 million and $1.6 million in contributions, respectively, to the Company's pension plans.

Expected Future Benefit Payments

Benefit payments expected to be paid, reflecting future expected service as appropriate, were as follows:


	Pension Benefits		Postretirement Benefits
Fiscal 2022	$	2.9	$	4.7
Fiscal 2023	1.7		3.0
Fiscal 2024	1.7		2.9
Fiscal 2025	1.6		2.8
Fiscal 2026	1.5		2.7
Fiscal 2027 - 2031	6.9		11.7

Defined Contribution Retirement Plans

The Company maintains one active tax-qualified 401(k) retirement plan and one active non-qualified deferred compensation plan in the U.S. The 401(k) retirement plan provides for an automatic Company contribution of 3% of an eligible employee's pay, with an additional Company matching contribution generally equal to 50.0% of each employee's elective contribution to the plan up to 8% of the employee's eligible pay. The deferred compensation plan permits eligible employees to defer a portion of their compensation. Total defined contribution expense related to continuing operations was $22.2 million, $26.0 million and $21.9 million for fiscal 2021, 2020 and 2019, respectively.

Rabbi Trusts and Other Investments

The Company maintains several rabbi trusts, the assets of which are used to pay retirement benefits. The rabbi trust assets are subject to the claims of the Company's creditors in the event of the Company's insolvency. Plan participants are general creditors of the Company with respect to these benefits. The trusts primarily hold life insurance policies and debt and equity securities, the value of which is included in other assets on the consolidated balance sheets. Note 20 provides additional information regarding the debt and equity securities. The carrying value of the 57 and 61 life insurance contracts held by these trusts was $43.4 million and $45.0 million as of December 31, 2021 and December 25, 2020, respectively. These contracts had a total death benefit of $86.4 million and $92.7 million as of December 31, 2021 and December 25, 2020, respectively. However, there are outstanding loans against the policies amounting to $20.8 million and $23.2 million as of December 31, 2021 and December 25, 2020, respectively.

The Company has insurance contracts that serve as collateral for certain of the Company's non-U.S. pension plan benefits. These insurance contracts totaled $7.9 million and $7.3 million as of December 31, 2021 and December 25, 2020, respectively. These amounts were included in other assets on the consolidated balance sheets.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Equity Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders' Equity Note Disclosure


16.			Equity

Preferred Shares

Mallinckrodt is authorized to issue 500,000,000 preferred shares, par value of $0.20 per share, none of which were issued or outstanding at December 31, 2021. Rights as to dividends, return of capital, redemption, conversion, voting and otherwise with respect to these shares may be determined by Mallinckrodt's Board of Directors on or before the time of issuance. In the event of the liquidation of the Company, the holders of any preferred shares then outstanding would, if issued on such terms that they carry a preferential distribution entitlement on liquidation, be entitled to payment to them of the amount for which the preferred shares were subscribed and any unpaid dividends prior to any payment to the ordinary shareholders.

Share Repurchases

From time to time, the Company's Board of Directors have authorized share repurchase programs. Under the March 2017 Repurchase Program, which has no time limit or expiration date, $1,000.0 million was authorized for share repurchase. No shares were repurchased in fiscal 2021, 2020 and 2019. The remaining amount available for repurchase is $564.2 million, subject to limitations under Chapter 11.

The Company also repurchases shares from certain employees in order to satisfy employee tax withholding requirements in connection with the vesting of restricted shares. In addition, the Company repurchases shares to settle certain option exercises. The Company spent zero, $0.4 million and $2.6 million to acquire shares in connection with equity-based awards in fiscal 2021, 2020 and 2019, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Share Plans

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share Plans


17.			Share Plans

Total share-based compensation cost was $10.2 million, $25.3 million and $33.8 million for fiscal 2021, 2020 and 2019, respectively. These amounts are generally included within SG&A expenses in the consolidated statements of operations. The Company recognized a related tax benefit associated with this expense of zero in both fiscal 2021 and 2020 and $1.2 million in fiscal 2019.

Stock Compensation Plans

Over the years, the Company has adopted and amended its Mallinckrodt Pharmaceuticals Stock and Incentive Plan, which provides for the award of share options, share appreciation rights, annual performance bonuses, long-term performance awards, restricted units, restricted shares, deferred share units, promissory shares and other share-based awards (collectively, "Awards"). The maximum number of common shares to be issued as Awards, subject to adjustment as provided under the terms of the respective plans were as follows:


						Maximum Number of Common Shares to be Issued as Awards (in millions)
2013 Plan						5.7
2015 Plan						17.8
2018 Plan						26.8

Share options. Share options are granted to purchase the Company's ordinary shares at prices that are equal to the fair market value of the shares on the date the share option is granted. Share options generally vest in equal annual installments over a period of four years and expire ten years after the date of grant. The grant-date fair value of share options, adjusted for estimated forfeitures, is recognized as expense on a straight-line basis over the requisite service period, which is generally the vesting period. Forfeitures are estimated based on historical experience.

Share option activity and information was as follows:


	Share Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding as of December 28, 2018	7,007,051	$	38.74
Granted	1,378,175	22.09
Exercised	(45,324)	20.67
Expired/Forfeited	(1,449,202)	34.80
Outstanding as of December 27, 2019	6,890,700	36.39
Expired/Forfeited	(820,988)	39.65
Outstanding as of December 25, 2020	6,069,712	35.95


Expired/Forfeited	(516,193)	45.63
Outstanding as of December 31, 2021	5,553,519	35.05		1.7	$	—

Vested and non-vested expected to vest as of December 31, 2021	5,352,763	35.14		5.5	$	—
Exercisable as of December 31, 2021	4,616,911	38.56		2.0	—

As of December 31, 2021, there was $1.6 million of total unrecognized compensation cost related to non-vested share option awards, which is expected to be recognized over a weighted-average period of 1.0 year.

The grant-date fair value of share options has been estimated using the Black-Scholes pricing model. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs. The expected volatility assumption is based on the historical and implied volatility of the Company's peer group with similar business models. The expected life assumption is based on the contractual and vesting term of the share option, employee exercise patterns and employee post-vesting termination behavior. The expected annual dividend per share is based on the Company's current intentions regarding payment of cash dividends. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term equal to the expected life assumed at the date of grant. The weighted-average assumptions used in the Black-Scholes pricing model for shares granted in fiscal 2019, along with the weighted-average grant-date fair value, were as follows:




Expected share price volatility	45.8		%
Risk-free interest rate	2.2		%
Expected annual dividend per share	—		%
Expected life of options (in years)	5.3
Fair value per option	$	9.66

In fiscal 2019, the total intrinsic value of options exercised was $0.3 million and the related tax benefit was $0.1 million.

Restricted share units. Recipients of restricted share units ("RSUs") have no voting rights and receive dividend equivalent units that vest upon the vesting of the related shares. RSUs generally vest in equal annual installments over a period of four years. Restrictions on RSUs lapse upon normal retirement, death or disability of the employee. The grant-date fair value of RSUs, adjusted for estimated forfeitures, is recognized as expense on a straight-line basis over the service period. The fair market value of RSUs granted is determined based on the market value of the Company's shares on the date of grant.

RSU activity was as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Non-vested as of December 28, 2018	1,685,101	$	29.54
Granted	755,180	20.13
Exercised	(713,274)	35.29
Expired/Forfeited	(307,987)	24.81
Non-vested as of December 27, 2019	1,419,020	22.68

Exercised	(647,167)	24.23
Expired/Forfeited	(281,182)	22.11
Non-vested as of December 25, 2020	490,671	20.96

Exercised	(186,930)	23.43
Expired/Forfeited	(60,844)	19.58
Non-vested as of December 31, 2021	242,897	19.40

The total vest date fair value of Mallinckrodt RSUs vested during fiscal 2021 was $4.4 million. As of December 31, 2021, there was $1.9 million of total unrecognized compensation cost related to non-vested RSUs granted, which is expected to be recognized over a weighted-average period of 1.1 years.

Performance share units. Similar to recipients of RSUs, recipients of performance share units ("PSUs") have no voting rights and receive dividend equivalent units. The grant-date fair value of PSUs, adjusted for estimated forfeitures, is generally recognized as expense on a straight-line basis from the grant-date through the end of the performance period. The vesting of PSUs and related dividend equivalent units is generally based on various performance metrics and relative total shareholder return (total shareholder return for the Company as compared to total shareholder return of the PSU peer group), measured over a three year performance period. The PSU peer group is comprised of various healthcare companies which attempts to replicate the Company's mix of businesses. Depending on Mallinckrodt's relative performance during the performance period, a recipient of the award is entitled to receive a number of ordinary shares equal to a percentage, ranging from 0.0% to 200.0%, of the award granted.

During December 2020, all outstanding PSUs were cancelled by the Human Resources and Compensation Committee of the Company's Board of Directors.

PSU activity was as follows (1):


	Shares	Weighted-Average Grant-Date Fair Value
Non-vested as of December 28, 2018	1,161,529	$	28.61
Granted	448,363	32.46
Forfeited	(414,387)	30.54

Non-vested as of December 27, 2019	1,195,505	23.85

Forfeited	(1,195,505)	23.85

Non-vested as of December 25, 2020	—	—

(1) The number of shares disclosed within this table are at the target number of 100.0%.

The Company generally uses the Monte Carlo model to estimate the probability of satisfying the performance criteria and the resulting fair value of PSU awards. The assumptions used in the Monte Carlo model for PSUs granted during fiscal 2019 were as follows:




Expected stock price volatility	55.2	%
Peer group stock price volatility	41.3
Correlation of returns	47.8

Employee Stock Purchase Plans

Effective March 16, 2016, upon approval by the shareholders of Mallinckrodt, the Company adopted a new qualified Mallinckrodt Employee Stock Purchase Plan ("ESPP"). Substantially all full-time employees of the Company's U.S. subsidiaries and employees of certain qualified non-U.S. subsidiaries are eligible to participate in the ESPP. Eligible employees authorize payroll deductions to be made to purchase shares at 15.0% below the market price at the beginning or end of an offering period. Employees

are eligible to authorize withholdings such that purchases of shares may amount to $25,000 of fair market value for each calendar year as prescribed by the IRC Section 423. Mallinckrodt has elected to deliver shares by utilizing treasury stock accumulated by the Company. The ESPP was suspended effective June 30, 2019 and remains unavailable as of December 31, 2021.

Guarantees

12 Months Ended

Dec. 31, 2021

Guarantees [Abstract]

Guarantees


18.			Guarantees

In disposing of assets or businesses, the Company has from time to time provided representations, warranties and indemnities to cover various risks and liabilities, including unknown damage to assets, environmental risks involved in the sale of real estate, liability to investigate and remediate environmental contamination at waste disposal sites and manufacturing facilities, and unidentified tax liabilities related to periods prior to disposition. The Company assesses the probability of potential liabilities related to such representations, warranties and indemnities and adjusts potential liabilities as a result of changes in facts and circumstances. The Company believes, given the information currently available, that the ultimate resolutions will not have a material adverse effect on its financial condition, results of operations and cash flows.

In connection with the sale of the Specialty Chemical business (formerly known as Mallinckrodt Baker) in fiscal 2010, the Company agreed to indemnify the purchaser with respect to various matters, including certain environmental, health, safety, tax and other matters. The indemnification obligations relating to certain environmental, health and safety matters have a term of 17 years from the sale, while some of the other indemnification obligations have an indefinite term. The amount of the liability relating to all of these indemnification obligations included in LSTC and other liabilities on the Company's consolidated balance sheets as of December 31, 2021 and December 25, 2020, respectively, was $14.9 million and $15.4 million, respectively, of which $12.1 million and $12.7 million, respectively, related to environmental, health and safety matters. The value of the environmental, health and safety indemnity was measured based on the probability-weighted present value of the costs expected to be incurred to address environmental, health and safety claims made under the indemnity. The aggregate fair value of these indemnification obligations did not differ significantly from their aggregate carrying value as of December 31, 2021 and December 25, 2020. As of December 31, 2021, the maximum future payments the Company could be required to make under these indemnification obligations was $70.2 million. The Company was required to pay $30.0 million into an escrow account as collateral to the purchaser, of which $19.0 million remained in restricted cash, included in other long-term assets on the consolidated balance sheets as of both December 31, 2021 and December 25, 2020.

The Company has recorded liabilities for known indemnification obligations included as part of environmental liabilities, which are discussed in Note 19.

The Company is also liable for product performance; however the Company believes, given the information currently available, that the ultimate resolution of any such claims will not have a material adverse effect on its financial condition, results of operations and cash flows.

As of December 31, 2021, the Company had various other letters of credit, guarantees and surety bonds totaling $34.7 million and restricted cash of $41.2 million held in segregated accounts primarily to collateralize surety bonds for the Company's environmental liabilities.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies


19.			Commitments and Contingencies

On October 12, 2020, the Company announced that Mallinckrodt plc and certain of its subsidiaries voluntarily initiated the Chapter 11 Cases under the Bankruptcy Code in the Bankruptcy Court. As a result of initiating the Chapter 11 Cases, all litigation and proceedings against the Company have been automatically stayed, subject to certain limited exceptions. In addition, the Bankruptcy Court issued orders enjoining certain litigation against the Company and various individuals named in certain of the litigation described below that might otherwise be subject to such an exception. For further information about the Chapter 11 Cases, refer to Note 2.

Governmental Proceedings

Opioid-Related Matters

Since 2017, multiple U.S. states, counties, a territory, other governmental persons or entities and private plaintiffs have filed lawsuits against certain entities of the Company, as well as various other manufacturers, distributors, pharmacies, pharmacy benefit managers, individual doctors and/or others, asserting claims relating to defendants' alleged sales, marketing, distribution, reimbursement, prescribing, dispensing and/or other practices with respect to prescription opioid medications, including certain of the Company's products. As of March 14, 2022, the cases the Company is aware of include, but are not limited to, approximately 2,619 cases filed by counties, cities, Native American tribes and/or other government-related persons or entities; approximately 270 cases filed by hospitals, health systems, unions, health and welfare funds or other third-party payers; approximately 124 cases filed by individuals; approximately eight cases filed by schools and school boards; and 17 cases filed by the Attorneys General for New Mexico, Kentucky, Rhode Island, Georgia, Florida, Alaska, New York, Nevada, South Dakota, New Hampshire, Louisiana, Illinois, Mississippi, West Virginia, Puerto Rico, Ohio, and Idaho, with Idaho being the only state Attorney General to file in federal as opposed to state court. As of March 14, 2022, the Mallinckrodt defendants in these cases consist of Mallinckrodt plc and the following subsidiaries of Mallinckrodt plc: Mallinckrodt Enterprises LLC, Mallinckrodt LLC, SpecGx LLC, Mallinckrodt Brand Pharmaceuticals Inc., Mallinckrodt Inc., MNK 2011 Inc., and Mallinckrodt Enterprises Holdings, Inc. Certain of the lawsuits have been filed as putative class actions. On October 8, 2020, the State of Rhode Island filed a lawsuit against the Company's President and Chief Executive Officer ("CEO"), Mark C. Trudeau, asserting similar claims relating to the marketing and distribution of prescription opioid medications. Rhode Island has voluntarily agreed to a stay of the lawsuit against Mr. Trudeau.

Most pending federal lawsuits have been coordinated in a federal multi-district litigation (“MDL”) pending in the U.S. District Court for the Northern District of Ohio. The MDL court has issued a series of case management orders permitting motion practice addressing threshold legal issues in certain cases, allowing discovery, setting pre-trial deadlines and setting a trial date on October 21, 2019 for two cases originally filed in the Northern District of Ohio by Summit County and Cuyahoga County against opioid manufacturers, distributors, and pharmacies ("Track 1 Cases"). The counties claimed that opioid manufacturers' marketing activities changed the medical standard of care for treating both chronic and acute pain, which led to increases in the sales of their prescription opioid products. They also alleged that opioid manufacturers' and distributors' failure to maintain effective controls against diversion was a substantial cause of the opioid crisis. On September 30, 2019, the Company announced that Mallinckrodt plc, along with its wholly owned subsidiaries Mallinckrodt LLC and SpecGx LLC, had executed a definitive settlement agreement and release with Cuyahoga and Summit Counties in Ohio. The settlement fully resolved the Track 1 cases against all named Mallinckrodt entities that were scheduled to go to trial in October 2019 in the MDL. Under the agreement, the Company paid $24.0 million in cash on October 1, 2019. In addition, the Company agreed to provide $6.0 million in generic products, including addiction treatment products and a $0.5 million payment upon the two-year anniversary of the settlement agreement in recognition of the counties' time and expenses. Further in the event of a comprehensive resolution of government-related opioid claims, the Company has agreed that the two plaintiff counties will receive the value they would have received under such a resolution, less the payments described above. All named Mallinckrodt entities were dismissed with prejudice from the lawsuit. The value of the settlement should not be extrapolated to any other opioid-related cases or claims.

Other lawsuits remain pending in various state courts. In some jurisdictions, certain of the state lawsuits have been consolidated or coordinated for pre-trial proceedings before a single court within their respective state court systems.

The lawsuits assert a variety of claims, including, but not limited to, public nuisance, negligence, civil conspiracy, fraud, violations of the Racketeer Influenced and Corrupt Organizations Act (“RICO”) or similar state laws, violations of state Controlled Substances Acts or state False Claims Acts, product liability, consumer fraud, unfair or deceptive trade practices, false advertising, insurance fraud, unjust enrichment, negligence, negligent misrepresentation, and other common law and statutory claims arising from defendants' manufacturing, distribution, marketing and promotion of opioids and seek restitution, damages, injunctive and other relief and attorneys' fees and costs. The claims generally are based on alleged misrepresentations and/or omissions in connection with the sale and marketing of prescription opioid medications and/or an alleged failure to take adequate steps to prevent diversion.

Opioid-Related Litigation Settlement. On February 25, 2020, the Company announced that it had reached an agreement in principle with a court-appointed plaintiffs' executive committee representing the interest of thousands of plaintiffs in the MDL and supported by a broad-based group of 48 state and U.S. Territory Attorneys General on the terms of a global settlement that would resolve all opioid-related claims against the Company and its subsidiaries (the "Opioid-Related Litigation Settlement"). The Opioid-Related Litigation Settlement contemplated the filing of voluntary petitions under Chapter 11 by the Specialty Generics Subsidiaries and the establishment of a trust for the benefit of plaintiffs holding opioid-related claims against the Company (the "Opioid Claimant Trust"). Furthermore, under the terms of the Opioid-Related Litigation Settlement, subject to court approval and other conditions, it was contemplated that, the Company would (1) make cash payments of $1,600.0 million in structured payments over eight years, beginning upon the Specialty Generics Subsidiaries' emergence from the completed Chapter 11 case, the substantial majority of which would be expected to be contributed to the Opioid Claimant Trust and (2) issue warrants with an eight year term to the Opioid Claimant Trust exercisable at a strike price of $3.15 per share to purchase the Company's ordinary shares that would represent

approximately 19.99% of the Company's fully diluted outstanding shares, including after giving effect to the exercise of the warrants (the “Settlement Warrants”).

Amended Proposed Opioid-Related Litigation Settlement. In conjunction with the Company's Chapter 11 filing on October 12, 2020, the Company entered into a RSA which includes a proposed resolution of all opioid-related claims against the Company and its subsidiaries that supersedes the Opioid-Related Litigation Settlement. On September 2, 2021, the Debtors reached an agreement in principle with the Opioid Claimants, which supersedes the Amended Opioid-Related Litigation Settlement as proposed in the RSA. The agreement in principle provides that, upon the Company's emergence from the Chapter 11 process, subject to court approval and other conditions:

•Opioid claims would be channeled to one or more trusts, which would receive $1,725.0 million in structured payments consisting of (i) a $450.0 million payment upon the Company's emergence from Chapter 11; (ii) a $200.0 million payment upon each of the first and second anniversaries of emergence; (iii) a $150.0 million payment upon each of the third through seventh anniversaries of emergence; and (iv) a $125.0 million payment upon the eighth anniversary of emergence with an eighteen month prepayment option at a discount for all but the first payment.

•Opioid claimants would also receive warrants for approximately 19.99% of the reorganized Company's new outstanding shares, after giving effect to the exercise of the warrants, but subject to dilution from equity reserved under the management incentive plan, exercisable at any time on or prior to the sixth anniversary of the Company's emergence, at a strike price reflecting an aggregate equity value for the reorganized Debtors of $1,551.0 million (the "New Opioid Warrants").

•Upon commencing the Chapter 11 filing, the Company has begun to comply with an agreed-upon operating injunction with respect to the operation of its opioid business.

In accordance with the announced agreement in principle, the Company recorded an accrual for the additional structured cash payment related to this contingency of $125.0 million during fiscal 2021. As of December 31, 2021 and December 25, 2020, the Company maintained an accrual for this contingency of $1,725.0 million and $1,600.0 million within LSTC, respectively. No value has been ascribed to the warrants as of December 31, 2021 and December 25, 2020 as the Company cannot reasonably estimate the equity value upon emergence. For further information on the terms of this proposed resolution, refer to Note 2.

Other Opioid-Related Matters. In addition to the lawsuits described above, certain entities of the Company have received subpoenas and civil investigative demands ("CID(s)") for information concerning the sale, marketing and/or distribution of prescription opioid medications and the Company's suspicious order monitoring programs, including from the DOJ and the Attorneys General for Missouri, New Hampshire, Kentucky, Washington, Alaska, South Carolina, Puerto Rico, New York, West Virginia, Indiana, the Divisions of Consumer Protection and Occupational and Professional Licensing of the Utah Department of Commerce, and the New York State Department of Financial Services. The Company has been contacted by the coalition of State Attorneys General investigating the role manufacturers and distributors may have had in contributing to the increased use of opioids in the U.S. On January 27, 2018, the Company received a grand jury subpoena from the U.S. Attorneys' Office (“USAO”) for the Southern District of Florida for documents related to the distribution, marketing and sale of generic oxymorphone products. On April 17, 2019, the Company received a grand jury subpoena from the USAO for the Eastern District of New York ("EDNY") for documents related to the sales and marketing of controlled substances, the policies and procedures regarding controlled substances, and other related documents. On June 4, 2019, the Company received a rider from the USAO for EDNY requesting additional documents regarding the Company's anti-diversion program. On December 15, 2020, the Company received a subpoena from the Western District of Virginia for documents related to services provided by an outside consulting firm. The Company is responding or has responded to these subpoenas, CIDs and any informal requests for documents.

In August 2018, the Company received a letter from the leaders of the Energy and Commerce Committee in the U.S. House of Representatives requesting a range of documents relating to its marketing and distribution of opioids. The Company completed its response to this letter in December 2018. The Company received a follow-up letter in January 2020 and provided the committee a response. The Company is cooperating with the investigation.

The Attorneys General for Kentucky, Alaska, New York, New Hampshire, West Virginia and Puerto Rico have subsequently filed lawsuits against the Company. Similar subpoenas and investigations may be brought by others or the foregoing matters may be expanded or result in litigation. The Company intends to vigorously defend itself in these matters. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with these investigations and/or lawsuits.

On April 21, 2020, New York Governor Andrew Cuomo announced that the New York State Department of Financial Services had filed a Statement of Charges against Mallinckrodt, including allegations that it misrepresented the safety and efficacy of its branded and unbranded opioid products and downplayed the risks of negative outcomes to patients, resulting in claims for payment of medically unnecessary opioid prescriptions to commercial insurance companies. The Statement of Charges claims that Mallinckrodt violated Section 403 of the New York Insurance Law, which prohibits fraudulent insurance acts and includes penalties of up to $5,000 plus the amount of the fraudulent claim for each violation. It further alleges that Mallinckrodt violated Section 408 of the Financial Services Law, which prohibits intentional fraud or intentional misrepresentation of a material fact with respect to a financial product or service and includes penalties of up to $5,000 per violation. The Department claims that each fraudulent prescription constitutes a

separate violation of these laws. A hearing on the Statement of Charges was scheduled for January 25, 2021, but the Department of Financial Services agreed to a voluntary stay on October 15, 2020. The Company intends to vigorously defend itself in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit.

On June 1, 2020, a putative class action lawsuit was filed against Mallinckrodt plc, Mallinckrodt Canada ULC, Her Majesty the Queen in right of the Province of British Columbia ("Province") and the College of Pharmacists of British Columbia ("College") in the Supreme Court of British Columbia, captioned Laura Shaver v. Mallinckrodt Canada ULC, et al., Court File No. VLC-S-S-205793. The action purports to be brought on behalf of any persons (1) prescribed Methadose for opioid agonist treatment in British Columbia after March 1, 2014; (2) covered by Pharmacare Plan C within British Columbia who were prescribed Methadose for opioid agonist treatment after February 1, 2014; (3) who transitioned from compounded methadone to Methadose for opioid agonist treatment in British Columbia after March 1, 2014; (4) covered by Pharmacare Plan C within British Columbia who were transitioned from compounded methadone to Methadose for opioid agonist treatment after February 1, 2014; or (5) falling within such other class definition as the British Columbia Court may approve. The suit generally alleges that the Province’s decision to grant Methadose coverage under Pharmacare Plan C and remove compounded methadone from coverage under Pharmacare Plan C had adversely affected those being treated for opioid use disorder due to Methadose allegedly being a significantly less effective treatment than generic compounded methadone. The suit asserts that the Province, the College and the Mallinckrodt defendants knew (or ought to have known) about, failed to warn patients about and made false representations concerning, the efficacy of Methadose and the risks of switching from compounded methadone to Methadose. The suit seeks general, special, aggravated, punitive and exemplary damages in an unspecified amount, costs and interest and injunctive relief against the Province, the College and the Mallinckrodt defendants. Pursuant to two orders granted by the Ontario Superior Court of Justice (Commercial List) ("Canadian Court") on October 15, 2020, the Chapter 11 proceedings commenced by Mallinckrodt plc and Mallinckrodt Canada ULC pursuant to the U.S. Bankruptcy Code were recognized and given effect in Canada. Among other things, the Canadian Court has stayed all proceedings against the Mallinckrodt defendants, including the British Columbia class action proceedings. The Canadian Court granted a further order on February 25, 2021, staying the British Columbia class action proceedings against all defendants. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit.

New York State Opioid Stewardship Act. On October 24, 2018, the Company filed suit in the U.S. District Court for the Southern District of New York against the State of New York, asking the court to declare New York State's Opioid Stewardship Act (“OSA”) unconstitutional and to enjoin its enforcement. On December 19, 2018, the court declared the OSA unconstitutional and granted the Company's motion for preliminary injunctive relief. On January 17, 2019, the State of New York appealed the court's decision. On September 14, 2020, a panel of the U.S. Court of Appeals for the Second Circuit reversed in part the lower court's judgment, finding that the lower court should have dismissed the Company's (and other parties') challenges to the OSA for lack of subject matter jurisdiction. Together with the other plaintiffs, the Company filed a petition for rehearing en banc to challenge the panel's decision, which was denied on December 18, 2020. On February 12, 2021, the Second Circuit granted the parties' request to stay the mandate. The parties filed a petition for certiorari with the Supreme Court, which was denied. On October 21, 2021, the District Court vacated its December 19, 2018 order, except for its invalidation of the "pass through prohibition" on the basis it violates the Commerce Clause. In April 2019, the State of New York passed its 2020 budget, which amended the OSA so that the OSA would apply only to the sale or distribution of certain opioids in New York for 2017 and 2018 and, effective July 1, 2019, imposed an excise tax on certain opioids.

Acthar Gel-Related Matters

SEC Subpoena. In August 2019, the Company received a subpoena from the SEC for documents related to the Company's disclosure of its dispute with the HHS and CMS (together with HHS, the "Agency") concerning the base date average manufacturer price ("AMP") for Acthar Gel under the Medicaid Drug Rebate Program for Mallinckrodt's Acthar Gel, which is also the subject of litigation that the Company filed against the Agency (see Medicaid Lawsuit below). On January 7, 2022, the SEC issued a subsequent subpoena related to this matter, requesting additional documents from the Company. The Company is cooperating with the SEC's investigation, which is ongoing.

Medicaid Lawsuit. In May 2019, CMS issued a final decision directing the Company to revert to the original base date AMP used to calculate Medicaid drug rebates for Acthar Gel despite CMS having given the previous owner of the product, Questcor, written authorization in 2012 to reset the base date AMP. Upon receipt of CMS's final decision, the Company filed suit in the D.C. District Court against the Agency under the Administrative Procedure Act seeking to have the decision declared unlawful and set aside. In March 2020, the Company received an adverse decision from the D.C. District Court. The Company immediately sought reconsideration by the D.C. District Court, which was denied. The Company then appealed the D.C. District Court's decision to the D.C. Circuit. In June 2020, while its appeal remained pending, the Company was required to revert to the original base date AMP for Acthar in the government's price reporting system.

As a result of this contingency, the Company incurred a retrospective one-time charge of $641.1 million (the "Acthar Gel Medicaid Retrospective Rebate"), of which $536.0 million and $105.1 million was reflected as a component of net sales and operating expenses, respectively, in the consolidated statement of operations for fiscal 2020. The $105.1 million reflected as a component of operating expenses represented a pre-acquisition contingency related to the portion of the Acthar Gel Medicaid Retrospective Rebate

that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor in August 2014. As of December 31, 2021 and December 25, 2020, $634.7 million and $638.9 million related to the Medicaid lawsuit was recorded within LSTC, respectively.

The D.C. Circuit heard argument on the merits of the Company's appeal in September 2020, prior to the Company's filing of the Chapter 11 Cases on October 12, 2020. At the joint request of the parties, the D.C. Circuit has agreed to hold the case in abeyance pending completion of the Proposed Acthar Gel-Related Settlement, which was conditioned upon the Company entering the Chapter 11 restructuring process. Pursuant to the Proposed Acthar Gel-Related Settlement, the Company has agreed to pay $260.0 million over seven years and to reset Acthar Gel's Medicaid rebate calculation as of July 1, 2020, such that state Medicaid programs will receive 100% rebates on Acthar Gel Medicaid sales, based on current Acthar Gel pricing. Additionally, upon effectiveness of the Proposed Acthar Gel-Related Settlement, the Company will dismiss its D.C. Circuit appeal. The Company has also entered into a five-year CIA with the OIG of the HHS, which took effect in March 2022. The Company has entered into the Proposed Acthar Gel-Related Settlement with the DOJ and other governmental parties solely to move past these litigation matters and disputes and does not make any admission of liability or wrongdoing.

Florida Civil Investigative Demand. In February 2019, the Company received a CID from the USAO for the Middle District of Florida for documents related to alleged payments to healthcare providers in Florida and whether those payments violated the Anti-Kickback Statute. The Company has cooperated with the investigation.

U.S. House Committee Investigation. In January 2019, the Company along with 11 other pharmaceutical companies, received a letter from the U.S. House Committee on Oversight and Reform requesting information relating to the Company's pricing strategy for Acthar Gel and related matters. The Company cooperated with the Committee's investigation. The Company's President and CEO Mark C. Trudeau accepted an invitation from the Committee to discuss the Company's pricing policies and modernization strategy for Acthar Gel at a hearing before the Committee, which took place on October 1, 2020. On December 10, 2021, the Committee issued its final majority report detailing findings from the investigation.

Boston Civil Investigative Demand. In January 2019, the Company received a CID from the USAO for the District of Massachusetts for documents related to the Company's participation in the Medicaid Drug Rebate Program. The Company responded to the government's requests and cooperated with the investigation.

In March 2020, the U.S. District Court for the District of Massachusetts unsealed a qui tam complaint under the federal FCA ("Boston FCA") against the Company in which the DOJ and 32 states and territories have intervened alleging that the Company had failed to pay the correct amount of rebates for Acthar Gel. Other related legal proceedings involving the Company, including the litigation described as the Medicaid Lawsuit, are discussed above. The Company disagrees with the government's characterization of the facts and applicable law. The Company moved to dismiss the DOJ's Complaint in Intervention in July 2020 and moved to dismiss the complaint of the intervening states in September 2020. As previously disclosed, in the event that the Company does not prevail in its Medicaid lawsuit the potential for damages in this matter could be up to approximately $1,280.0 million, after subtracting out potential restitution, related to the Acthar Gel Medicaid Retrospective Rebate. The Company has not recognized an accrual for this contingency in its consolidated balance sheet as of December 31, 2021 or December 25, 2020.

As discussed above, on October 12, 2020, the Company announced the Proposed Acthar Gel-Related Settlement to resolve various Acthar Gel-related matters, which includes this associated Boston FCA lawsuit. The court administratively closed the case on November 4, 2020, upon the parties' joint request for a stay of the litigation due to the Proposed Acthar Gel-Related Settlement and Chapter 11 Cases. The Company expects the DOJ to dismiss the lawsuit after the Company's first payment toward the settlement amount.

Boston Subpoena. In December 2016, the Company received a subpoena from the USAO for the District of Massachusetts for documents related to the Company's payments to charitable foundations, the provision of financial and other support by charitable foundations to patients receiving Acthar Gel, and related matters. The Company has responded to these requests and cooperated in the investigation. The Company does not believe that the government will proceed any further with the investigation.

Questcor EDPA Qui Tam Litigation. In September 2012, Questcor received a subpoena from the USAO for the EDPA for information relating to its promotional practices related to Acthar Gel. The investigation eventually expanded to include Questcor's provision of financial and other support to patients, including through charitable foundations and related matters. The Company cooperated with the investigation. In March 2019, the U.S. District Court for the EDPA unsealed two qui tam actions involving the allegations under investigation by the USAO for the EDPA. The DOJ intervened in both actions, which were later consolidated. In September 2019, the Company executed a settlement agreement with the DOJ for $15.4 million and finalized settlements with the three qui tam plaintiffs. These settlements were paid during the three months ended September 27, 2019 and resolve the portion of the investigation and litigation involving Questcor's promotional practices related to Acthar Gel.

In June 2019, the DOJ filed its Complaint in Intervention in the litigation, alleging claims under the FCA based on Questcor's relationship with and donations to an independent charitable patient co-pay foundation. The Company disagrees with the DOJ's characterization of the facts and applicable law. In January 2020, the court denied the Company's motion to dismiss the Complaint in Intervention.

As discussed above, on October 12, 2020, the Company announced the Proposed Acthar Gel-Related Settlement to resolve various Acthar Gel-related matters, which includes this Questcor EDPA Qui Tam Litigation. On October 15, 2020, the court agreed to stay the proceedings, at the request of the parties, as they work towards completion of the Proposed Acthar Gel-Related Settlement. The Company expects the DOJ to dismiss the lawsuit after the Company's first payment toward the settlement amount.

Other Related Matters

Generic Pricing Subpoena. In March 2018, the Company received a grand jury subpoena issued by the U.S. District Court for the EDPA pursuant to which the Antitrust Division of the DOJ is seeking documents regarding generic products and pricing, communications with generic competitors and other related matters. The Company is in the process of responding to this subpoena and intends to cooperate in the investigation.

MNK 2011 Inc. (formerly known as Mallinckrodt Inc.) v. U.S. Food and Drug Administration and United States of America. In November 2014, the FDA reclassified the Company's Methylphenidate ER in the Orange Book: Approved Drug Products with Therapeutic Equivalence ("the Orange Book"). In November 2014, the Company filed a Complaint in the U.S. District Court for the District of Maryland Greenbelt Division against the FDA and the U.S. (the "MD Complaint") for judicial review of the FDA's reclassification. In July 2015, the court granted the FDA's motion to dismiss with respect to three of the five counts in the MD Complaint and granted summary judgment in favor of the FDA with respect to the two remaining counts (the “MD Order”). On October 18, 2016, the FDA initiated proceedings, proposing to withdraw approval of the Company's Abbreviated New Drug Application ("ANDA") for Methylphenidate ER. On October 21, 2016, the U.S. Court of Appeals for the Fourth Circuit issued an order placing the Company's appeal of the MD Order in abeyance pending the outcome of the withdrawal proceedings. The parties exchanged documents and in April 2018, the Company filed its submission in support of its position in the withdrawal proceedings. A potential outcome of the withdrawal proceedings is that the Company's Methylphenidate ER products may lose their FDA approval and have to be withdrawn from the market.

Therakos® Subpoena. In March 2014, the USAO for the EDPA requested the production of documents related to an investigation of the U.S. promotion of Therakos® photopheresis ("Therakos") drug/device system UVADEX/UVAR XTS and UVADEX/CELLEX (collectively, the "Therakos System"), for indications not approved by the FDA, including treatment of patients with graft versus host disease ("GvHD") and solid organ transplant patients, including pediatric patients. The investigation also included Therakos' efforts to secure FDA approval for additional uses of, and alleged quality issues relating to, UVADEX/UVAR. In August 2015, the USAO for the EDPA sent Therakos a subsequent request for documents related to the investigation and has since made certain related requests. The Company responded to these requests. On June 28, 2021, the USAO for EDPA and the entities named as defendants in the qui tam complaint captioned United States ex. rel. Michael Johnson and Frank Strobl v. Therakos, et al., No. 12-cv-0454-JHS, that was filed under seal in 2012 filed a stipulation of dismissal in the United States District Court for the EDPA terminating the matter.

Patent Litigation

Branded Products: The Company will continue to vigorously enforce its intellectual property rights relating to its Branded products to prevent the marketing of infringing generic or competing products prior to the expiration of patents covering those products, which, if unsuccessful, could adversely affect the Company's ability to successfully maximize the value of individual Branded products and have an adverse effect on its financial condition, results of operations and cash flows. In the case of litigation filed against potential generic or competing products to Company's Branded products, those litigation matters can either be settled or the litigation pursued through a trial and any potential appeals of the lower court decision.

Amitiza Patent Litigation: The Company and Takeda Pharmaceutical Company Limited, Takeda Pharmaceuticals USA, Inc., and Takeda Pharmaceuticals America, Inc. (collectively "Takeda," the exclusive licensee under the patents in litigation) initiated litigation against six parties that submitted ANDAs with Paragraph IV certifications seeking to launch a generic version of Company's Amitiza product. Each of those litigation matters were subsequently settled by entering into non-exclusive license agreements that granted the right to market a competing generic version of Amitiza in the U.S. on or after a specified entry date, or earlier under certain circumstances. One party (Par Pharmaceutical) entered into a settlement agreement that granted an entry date on or after January 1, 2021, and subsequently launched an authorized generic version of Company's Amitiza product in early 2021. The other five parties (Dr. Reddy's Laboratories, Amneal Pharmaceuticals, Teva Pharmaceuticals, Sun Pharmaceutical and Zydus Pharmaceuticals) entered into settlement agreements that granted each party an entry date on or after January 1, 2023, or earlier under certain circumstances. The Company intends to vigorously enforce its intellectual property rights relating to Amitiza against any additional parties that may seek to market a generic version of Company's Amitiza product.

INOmax Patent Litigation: The Company initiated litigation against Praxair Distribution, Inc. and Praxair, Inc. (collectively “Praxair”) following receipt of a notice from Praxair concerning its submission of an ANDA containing a Paragraph IV patent certification with the FDA for a nitric oxide drug product. Praxair also made a 510(k) regulatory submission for a nitric oxide delivery system. The District Court issued a decision ruling that five of the Company's patents were invalid and six were not infringed by Praxair. The Company appealed that decision to the Federal Circuit but the District Court decision was substantively affirmed with

respect to invalidity and non-infringement. The Company's pursuit of en banc review at the Federal Circuit and review by the U.S. Supreme Court were unsuccessful. Praxair received FDA approval of their ANDA for their Noxivent nitric oxide and clearance of their 510(k) for their NOxBOXi device on October 2, 2018. The adverse final outcome in the appeal of the Praxair litigation resulted in Praxair's launch of a competitive nitric oxide product before the expiration of the last of the listed patents on May 3, 2036 (November 3, 2036 including pediatric exclusivity), which could adversely affect the Company's ability to successfully maximize the value of INOmax and have an adverse effect on its financial condition, results of operations and cash flows. The Company continues to develop and pursue patent protection of next generation nitric oxide delivery systems and additional uses of nitric oxide. The Company further intends to vigorously enforce its intellectual property rights relating to its nitric oxide products against any additional parties that may seek to market a generic version of Company's INOmax product and/or next generation delivery systems.

Generic Products: The Company continues to pursue development of a portfolio of generic products, some of which require submission of a Paragraph IV certification against patents listed in the FDA's Orange Book for the Branded product asserting that the Company's proposed generic product does not infringe and/or the Orange Book patent(s) are invalid and/or unenforceable. In the case of litigation filed against Company for such potential generic products, those litigation matters can either be settled or the litigation pursued through a trial and any potential appeals of the lower court decision in order to successfully launch those generic products in the future.

Janssen Pharmaceuticals, Inc. and Janssen Pharmaceutica NV v. Pharmascience Inc. and SpecGx LLC. In December 2019, Janssen Pharmaceuticals, Inc. and Janssen Pharmaceutica NV (collectively “Janssen”) initiated litigation against the Company and Pharmascience Inc. (“Pharmascience”) relating to the collaboration between Company and Pharmascience that resulted in Pharmascience's ANDA submission, containing a Paragraph IV patent certification, with the FDA for a competing version of Invega Sustenna. Janssen alleges that the Company and Pharmascience infringe U.S. Patent No. 9,439,906. The litigation is currently stayed with respect to the Company as a result of the Company's Chapter 11 filing. If the stay is lifted, the Company intends to vigorously defend its position.

Shire Development LLC, Shire LLC and Shire US, Inc. v. SpecGx LLC. In May 2018, Shire Development LLC, Shire LLC and Shire US, Inc. (collectively “Shire”) initiated litigation against the Company alleging that the Company infringed U.S. Patent Nos. 6,913,768, 8,846,100, and 9,173,857 following receipt of an April 2018 notice from the Company concerning its submission of an ANDA, containing a Paragraph IV patent certification with the FDA for a competing version of Mydayis. On January 28, 2019, the parties entered into a settlement agreement under which the Company was granted the non-exclusive right to market a competing generic version of Mydayis in the U.S. under its ANDA on or after May 10, 2023 (or November 10, 2023 if any pediatric exclusivity is granted by the FDA with respect to the Mydayis product), or earlier under certain circumstances.

Jazz Pharmaceuticals, Inc. and Jazz Pharmaceuticals Ireland v. Mallinckrodt PLC, Mallinckrodt Inc. and Mallinckrodt LLC. In January 2018, Jazz Pharmaceuticals, Inc. and Jazz Pharmaceuticals Ireland (collectively, "Jazz") initiated litigation against the Company alleging that the Company infringed U.S. Patent Nos. 7,668,730, 7,765,106, 7,765,107, 7,895,059, 8,457,988, 8,589,182, 8,731,963, 8,772,306, 9,050,302, and 9,486,426 following receipt of a November 2017 notice from the Company concerning its submission of an ANDA, containing a Paragraph IV patent certification with the FDA for a competing version of Xyrem. On June 4, 2018, the parties entered into a settlement agreement under which Company was granted the non-exclusive right to market a competing sodium oxybate product in the U.S. under its ANDA on or after December 31, 2025, or earlier under certain circumstances.

Commercial and Securities Litigation

City of Rockford and Other Acthar Gel-Related Matters

On March 12, 2021, the plaintiffs in City of Rockford v. Mallinckrodt ARD, Inc., et al. (“Rockford”), United Ass'n of Plumbers and Pipefitters Local 322 of Southern New Jersey v. Mallinckrodt ARD, LLC, et al. (“Local 322”), Steamfitters Local Union No. 420 v. Mallinckrodt ARD, LLC, et al. (“Steamfitters”), Int'l Union of Operating Engineers Local 542 v. Mallinckrodt ARD Inc., et al. (“Local 542”) and Acument Global Technologies, Inc., v. Mallinckrodt ARD Inc., et al. (“Acument”) filed a motion with the Joint Panel on Multi-District Litigation (“JPML”) under 28 U.S.C. § 1407 requesting that those cases and others alleging claims related to the price of Acthar Gel (including Health Care Service Corp. v. Mallinckrodt ARD LLC, et al. (“HCSC”), City of Marietta v. Mallinckrodt ARD LLC (“Marietta”), Humana Inc. v. Mallinckrodt ARD LLC (“Humana”), MSP Recovery Claims, Series II, LLC, et al. v. Mallinckrodt ARD, Inc., et al. (“MSP”) and U.S. ex rel. Strunck v. Mallinckrodt ARD LLC ("Strunck")) be transferred to the Northern District of Illinois for coordinated or consolidated pretrial proceedings as a MDL (the “Section 1407 Motion”). The Company opposed the Section 1407 Motion. In April 2021, the U.S. District Courts in the Northern District of Illinois and the EDPA stayed consideration of the Company's motions to transfer Rockford, MSP and Steamfitters to the District of Delaware pending a decision by the JPML. The EDPA District Court also denied Local 542's motion for reconsideration of the court's order transferring that case to the District of Delaware. On June 7, 2021, the JPML denied the Section 1407 Motion on the grounds that the timing and outcome of the bankruptcy proceedings made centralization premature.

On April 30, 2021, the Company filed several pleadings in the Chapter 11 Cases in respect of Acthar Gel-based claims, including without limitation the following: (a) objections to putative class proofs of claim filed by the City of Rockford, City of Marietta,

Georgia, United Association of Plumbers and Pipefitters Local 322 of Southern New Jersey and Steamfitters Local Union No. 420; (b) objections to all purportedly Acthar Gel-related proofs of claim that state no basis for Acthar Gel-related liability against the named debtor; (c) a motion for establishment of an administrative claims bar date that would require all Acthar Gel claimants, among others, to promptly file any requests for payment of purported administrative claims; and (d) an adversary proceeding seeking a declaratory judgment that the claims of the City of Rockford, as a governmental unit, are dischargeable in the Chapter 11 Cases.

On June 16, 2021, the Bankruptcy Court held that the City of Rockford's claims are dischargeable in the Chapter 11 Cases. On June 29, 2021, the Bankruptcy Court sustained the Company's objections to the putative class proofs of claim filed by City of Rockford, City of Marietta, United Association of Plumbers and Pipefitters Local 322 of Southern New Jersey and Steamfitters Local Union No. 420.

In September 2021, the Company filed a motion in the Bankruptcy Court to assume the exclusive distribution agreement for Acthar Gel that plaintiffs in Rockford and the Rockford-related litigation matters (together, the “Ad Hoc Acthar Group”) allege is anticompetitive. The Ad Hoc Acthar Group moved to dismiss the motion to assume. In October 2021, the Company filed an adversary proceeding in the Bankruptcy Court seeking a declaratory judgment that the exclusive distribution agreement for Acthar Gel is lawful. Subsequently, the Ad Hoc Acthar Group moved to withdraw all of their claims in the bankruptcy case. The Company has objected to the withdrawal motion. The Debtors' motion to assume the exclusive distribution agreement and its adversary proceeding remain pending.

For additional details on Rockford, Local 322, Steamfitters, Local 542, Acument, Marietta, MSP and Strunck, refer below.

Law Enforcement Health Benefits Litigation. In May 2021, Law Enforcement Health Benefits, Inc. (“LEHB”) filed a putative class action complaint in the U.S. District Court for the Northern District of Illinois against the Company and certain of its officers and directors as well as third-party advisors captioned Law Enforcement Health Benefits, Inc. v. Trudeau, et al., No. 3:21-cv-50215 (N.D. Ill.) (“LEHB”). The complaint alleges antitrust claims under Section 1 and Section 2 and numerous state laws, RICO claims under 18 U.S.C. §§ 1962(a), 1962(c) and 1962(d), fraud, conspiracy to defraud, and unjust enrichment and incorporates the allegations at issue in Rockford and the Rockford-related cases discussed above. After the complaint was filed, the Company requested that the district court stay the case in light of the Chapter 11 Cases. The motion to stay was granted. In June 2021, LEHB voluntarily dismissed without prejudice the Mallinckrodt defendant entities that are debtors in the Chapter 11 Cases. In July 2021, LEHB voluntarily dismissed without prejudice most of the Company's officers and directors as named defendants in the case. As of March 10, 2022, the Bankruptcy Court lifted the stay in this matter and established an initial schedule for the proceedings. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit.

Health Care Service Corporation Litigation. In February 2020, Health Care Service Corp. ("HCSC") filed a non-class complaint against the Company in California state court alleging improper pricing, marketing and distribution of Acthar Gel, and challenging the acquisition of rights to Synacthen® Depot ("Synacthen") by the Company's predecessor-in-interest. The complaint included claims for violation of the New Jersey RICO statute and various states' antitrust laws. It also included claims for conspiracy to violate the New Jersey RICO statute, fraud, unlawful restraint of trade, unfair and deceptive trade practices, insurance fraud, tortious interference with contract and unjust enrichment. The case, which is proceeding as Health Care Service Corp. v. Mallinckrodt ARD LLC, et al., alleges similar facts as those alleged in the Humana matter below. The Company intends to vigorously defend itself in this matter and the Company moved to dismiss the complaint in June 2020. In August 2020, the court dismissed the antitrust and tortious interference claims without prejudice, but held that HCSC could proceed to discovery on its remaining counts. The Company disagrees with the court's decision and contests liability. The Company was preparing to move to dismiss an amended complaint when the Company filed the Chapter 11 Cases. In January 2021, the Company removed this case to federal court and moved for transfer to the District of Delaware where the Company's Chapter 11 Cases are pending. HCSC moved to remand the case back to state court. On June 17, 2021, the district court in California remanded the case back to California state court. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit.

City of Marietta Litigation. In February 2020, the City of Marietta, Georgia filed a putative civil class action complaint against the Company in the U.S. District Court for the Northern District of Georgia relating to the price of Acthar Gel. The complaint, which pleads one claim for unjust enrichment, purports to be brought on behalf of third-party payers and their beneficiaries as well as people without insurance in the U.S. and its Territories who paid for Acthar Gel from four years prior to the filing of the Complaint until the date of trial. The case is proceeding as City of Marietta v. Mallinckrodt ARD LLC. Marietta alleges that it has paid $2.0 million to cover the cost of an Acthar Gel prescription of an employee and that the Company has been unjustly enriched as a result. The Company intends to vigorously defend itself in this matter, and has moved to dismiss the complaint. The Company's motion to dismiss was pending when the Company filed the Chapter 11 Cases. On October 16, 2020, the court ordered the case administratively closed in light of the Chapter 11 Cases.

Local 322. In November 2019, the United Association of Plumbers & Pipefitters Local 322 of Southern New Jersey ("Local 322") filed a putative class action complaint against the Company and other defendants in New Jersey state court on behalf of New Jersey and third party payers for alleged deceptive marketing and anti-competitive conduct related to the sale and distribution of Acthar Gel. The complaint asserts claims under the New Jersey Consumer Fraud Act, the New Jersey Antitrust Act, the New Jersey RICO statute, negligent misrepresentation, conspiracy/aiding and abetting and unjust enrichment. The proposed class is defined as "All third-party

payers and their beneficiaries (1) who are current citizens and residents of the State of New Jersey, and (2) who, for purposes other than resale, purchased or paid for Acthar Gel from August 27, 2007 through the present." In January 2020, after removing the complaint to federal court in New Jersey, the Company moved to dismiss or stay the case. On August 18, 2020 the court dismissed all claims against the Company other than Local 322's antitrust claim relating to the Company's predecessor-in-interest's acquisition of Synacthen. The Company disagrees with the court's decision and contests liability. The Company intends to vigorously defend itself in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit. In October 2020, the court ordered the case administratively closed in light of the Company's Chapter 11 Cases. In January 2021, the Company moved to transfer this case to the District of Delaware where the Company's Chapter 11 Cases are pending. On August 23, 2021, the district court in New Jersey granted the Company's motion to transfer the case to the District of Delaware where the Chapter 11 cases are pending.

Humana Litigation. In August 2019, Humana Inc. filed a lawsuit against the Company in the U.S. District Court for the Central District of California captioned Humana Inc. v. Mallinckrodt ARD LLC alleging violations of federal and state antitrust laws; RICO violations under 18 U.S.C. § 1962(c); conspiracy to violate RICO under 18 U.S.C. § 1962(d); violations of state unfair competition, consumer fraud and deceptive trade practice laws; state insurance fraud; tortious interference with contract; and unjust enrichment related to the pricing and marketing of Acthar Gel and the acquisition of Synacthen by the Company's predecessor-in-interest. Humana alleges that it paid more than $700.0 million for Acthar Gel and seeks undisclosed damages from 2011 through present. The case alleges similar facts as those alleged in the MSP and Rockford matters below, and includes references to allegations at issue in a pending qui tam action against the Company in the U.S. District Court for the EDPA (see Questcor EDPA Qui Tam Litigation above). In March 2020, the court granted-in-part and denied-in-part the Company's motion to dismiss Humana's claims. The court dismissed Humana's antitrust and tortious interference claims with leave to amend. The court denied the Company's motion to dismiss Humana's RICO and other fraud-based claims. Humana filed an amended complaint in May 2020, which the Company moved to dismiss. In August 2020, the court granted-in-part and denied-in-part the Company's motion to dismiss the amended complaint. The court dismissed with prejudice Humana's claims under most state antitrust laws to the extent predicated on conduct before 2014 and Humana's tortious interference claims. The court ruled that Humana's federal antitrust, federal RICO, state insurance fraud and unjust enrichment claims may proceed. In September 2020, the Company answered the remaining allegations and claims of the operative complaint. In October 2020, the court entered an order acknowledging the automatic stay of this litigation pursuant to §362 of the Bankruptcy Code. In January 2021, the Company moved to transfer this case to the District of Delaware where the Company's Chapter 11 Cases are pending. Humana opposed transfer. On June 28, 2021, the district court in California granted the Company's motion to transfer the case to the District of Delaware where the Chapter 11 cases are pending. Humana, along with an assignee of claims by United Healthcare Services, Inc., Optum Rx Group Holdings and OptumRx Holdings, LLC and CVS Pharmacy, Inc. (together, the "Acthar Insurance Claimants"), has filed similar claims (including claims for administrative expense) in the Chapter 11 Cases. In August 2021, the Company filed a motion for partial summary judgement as to the Acthar Insurance Claimants' antitrust claims. In September 2021, the Bankruptcy Court denied the Company's motion for partial summary judgement in a bench ruling with a written ruling issued in October 2021. In November, 2021, the Bankruptcy Court held a multi-day trial on the Acthar Insurance Claimants' motion for allowance of post-petition administrative antitrust claims filed in the Chapter 11 Cases. In December 2021, the Bankruptcy Court ruled in favor of the Company, finding that the administrative claims were without merit. The Acthar Insurance Claimants are appealing the ruling.

Putative Class Action Litigation - Steamfitters Local Union No. 420. In July 2019, Steamfitters Local Union No. 420 filed a putative class action lawsuit against the Company and United BioSource Corporation in the U.S. District Court for the EDPA, proceeding as Steamfitters Local Union No. 420 v. Mallinckrodt ARD, LLC, et al. The complaint makes similar allegations as those alleged in related state and federal actions that were filed by the same plaintiff's law firm in New Jersey, Illinois, Pennsylvania, Tennessee and Maryland (now dismissed; see WCBE below), and includes references to allegations at issue in a qui tam action that was filed against the Company in the U.S. District Court for the EDPA (see Questcor EDPA Quit Tam Litigation above). The complaint alleges RICO violations under 18 U.S.C. § 1962(c); conspiracy to violate RICO under 18 U.S.C. § 1962(c); violations of the Pennsylvania (and other states) Unfair Trade Practices and Consumer Protection laws; negligent misrepresentation; aiding and abetting/conspiracy; and unjust enrichment. The complaint also seeks declaratory and injunctive relief. In December 2019, the court denied the Company's motion to dismiss the complaint. The Company disagrees with the court's decision and contests liability. The Company intends to vigorously defend itself in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit. In January 2021, the Company moved to transfer this case to the District of Delaware where the Company's Chapter 11 Cases are pending. Steamfitters Local Union No. 420 opposes transfer.

Acument Global. In May 2019, Acument Global Technologies, Inc. ("Acument"), filed a non-class complaint against the Company and other defendants in Tennessee state court alleging violations of Tennessee Consumer Protection Laws, unjust enrichment, fraud and conspiracy to defraud. The case alleges similar facts as those alleged in the MSP and Rockford matters discussed below, and is captioned Acument Global Technologies, Inc., v. Mallinckrodt ARD Inc., et al. In February 2020, the court granted-in-part and denied-in-part the Company's motion to dismiss. While the court dismissed Acument's fraud-based claims and its claim under the Tennessee Consumer Protection Act, the court ruled that the antitrust and unjust enrichment claims may proceed. The Company disagrees with the court's decision and contests liability. The Company intends to vigorously defend itself in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this

lawsuit. In January 2021, the Company removed this case to federal court and moved for transfer to the District of Delaware where the Company's Chapter 11 Cases are pending. Acument has moved to remand the case back to state court.

Local 542. In May 2018, the International Union of Operating Engineers Local 542 filed a non-class complaint against the Company and other defendants in Pennsylvania state court alleging improper pricing and distribution of Acthar Gel, in violation of Pennsylvania's Unfair Trade Practices and Consumer Protection Law, aiding and abetting, unjust enrichment and negligent misrepresentation. The case alleges similar facts as the MSP and Rockford matters discussed below, and is captioned Int'l Union of Operating Engineers Local 542 v. Mallinckrodt ARD Inc., et al. Plaintiff filed an amended complaint in August 2018, the Company's objections to which were denied by the court. The Company disagrees with the court's decision and contest liability. The Company intends to vigorously defend itself in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit. In January 2021, the Company removed this case to federal court and moved for transfer to the District of Delaware where the Company's Chapter 11 Cases are pending. Local 542 has moved to remand the case back to the state court. On March 10, 2021, the federal court in Pennsylvania granted the Company's motion to transfer the case to the District of Delaware and denied without prejudice Local 542's motion to remand the case to state court. In June 2021, the District of Delaware referred this case to the Bankruptcy Court in Delaware.

Putative Class Action Litigation (MSP). In October 2017, a putative class action lawsuit was filed against the Company and United BioSource Corporation in the U.S. District Court for the Central District of California. Pursuant to a motion filed by the defendants, the case was transferred to the U.S. District Court for the Northern District of Illinois in January 2018, and is currently proceeding as MSP Recovery Claims, Series II, LLC, et al. v. Mallinckrodt ARD, Inc., et al. The Company filed a motion to dismiss in February 2018, which was granted in January 2019 with leave to amend. MSP filed the operative First Amended Class Action Complaint on April 10, 2019, in which it asserts claims under federal and state antitrust laws and state consumer protection laws and names additional defendants. The complaint alleged that the Company unlawfully maintained a monopoly in a purported ACTH product market by its predecessor in interest's acquisition of the U.S. rights to Synacthen and reaching anti-competitive agreements with the other defendants by selling Acthar Gel through an exclusive distribution network. The complaint purported to be brought on behalf of all third-party payers, or their assignees, in the U.S. and its territories, who have, as indirect purchasers, in whole or in part, paid for, provided reimbursement for, and/or possess the recovery rights to reimbursement for the indirect purchase of Acthar Gel from August 1, 2007 to present. In March 2020, the court granted the Company's motion to dismiss the complaint with leave to amend. MSP filed an amended complaint on July 3, 2020. The Company intends to vigorously defend itself in this matter and moved to dismiss the second amended complaint in August 2020. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit. On October 13, 2020, the court entered an order acknowledging the automatic stay of this litigation as to the Company pursuant to §362 of the Bankruptcy Code. In January 2021, the Company moved for transfer to the District of Delaware where the Company's Chapter 11 Cases are pending. MSP opposes transfer.

Putative Class Action Litigation (Rockford). In April 2017, a putative class action lawsuit was filed against the Company and United BioSource Corporation in the U.S. District Court for the Northern District of Illinois. The case is captioned City of Rockford v. Mallinckrodt ARD, Inc., et al. The complaint was subsequently amended to, among other things, include an additional named plaintiff and additional defendants. As amended, the complaint purports to be brought on behalf of all self-funded entities in the U.S. and its Territories, excluding any Medicare Advantage Organizations, related entities and certain others, that paid for Acthar Gel from August 2007 to the present. Plaintiff alleges violations of federal antitrust and RICO laws, as well as various state law claims in connection with the distribution and sale of Acthar Gel. In January 2018, the Company filed a motion to dismiss the Second Amended Complaint, which was granted in part in January 2019. The court dismissed one of two named plaintiffs and all claims with the exception of Plaintiff's federal and state antitrust claims. The remaining allegation in the case is that the Company engaged in anti-competitive acts to artificially raise and maintain the price of Acthar Gel. To this end, Plaintiff alleges that the Company unlawfully maintained a monopoly in a purported ACTH product market by its predecessor-in-interest's acquisition of the U.S. rights to Synacthen and conspired with the other named defendants by selling Acthar Gel through an exclusive distributor. The Company intends to vigorously defend itself in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit. On October 13, 2020, the court entered an order acknowledging the automatic stay of this litigation as to the Company pursuant to §362 of the Bankruptcy Code. In January 2021, the Company moved for transfer to the District of Delaware where the Company's Chapter 11 Cases are pending. Rockford opposes transfer.

Other Commercial and Securities Litigation Matters

Shareholder Litigation (HealthCor). In October 2020, four purported shareholders of the Company's stock filed a complaint in the D.C. District Court against the Company, its CEO Mark C. Trudeau and its former Chief Financial Officer ("CFO") Matthew K. Harbaugh. The lawsuit, captioned HealthCor Offshore Master Fund, L.P., et al. v. Mallinckrodt plc, et al., asserts claims for false and misleading statements in violation of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder, common law fraud, and negligent misrepresentation arising from substantially similar allegations as those contained in the Shenk class action lawsuit. The complaint seeks damages in an unspecified amount. The defendants intend to vigorously defend themselves in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit. As to the Company, this litigation is subject to the automatic stay under §362 of the Bankruptcy Code and on December 4, 2020, the Bankruptcy Court also enjoined the proceedings against the individual named defendants. The Bankruptcy Court extended

the injunction staying the proceedings against the individual named defendants on August 30, 2021. The plaintiffs subsequently appealed the Bankruptcy Court action to the U.S. District Court in Delaware through an interlocutory appeal, which was denied on November 10, 2021. The Bankruptcy Court further extended the injunction on November 29, 2021. Absent further extension, the injunction will expire on March 18, 2022.

Shareholder Derivative Litigation (Brandhorst). In September 2019, a purported shareholder of the Company's stock filed a shareholder derivative complaint in the D.C. District Court against the Company, as nominal defendant, as well as its CEO, its former CFO, its Executive Vice President Hugh O'Neill, and the following members of the Board of Directors: Angus Russell, David Carlucci, J. Martin Carroll, David Norton, JoAnn Reed and Kneeland Youngblood (collectively with Trudeau, Harbaugh and O'Neill, the “Brandhorst Defendants”). The lawsuit is captioned Lynn Brandhorst, derivatively on behalf of nominal defendant Mallinckrodt PLC v. Mark Trudeau et al. and relies on the allegations from the putative class action securities litigation that was filed against the Company and certain of its officers in January 2017, captioned Patricia A. Shenk v. Mallinckrodt plc, et al. described further below. The complaint asserts claims for contribution, breaches of fiduciary duty, unjust enrichment, abuse of control, and gross mismanagement, and is premised on allegations that the Brandhorst Defendants caused the Company to make the allegedly false or misleading statements at issue in the Shenk class action lawsuit. The complaint seeks damages in an unspecified amount and corporate governance reforms. On November 20, 2019, this matter was stayed by agreement of the parties pending resolution of the Shenk lawsuit below. The Brandhorst Defendants intend to vigorously defend themselves in this matter. As to the Company, this litigation is subject to the automatic stay under §362 of the Bankruptcy Code, and on December 4, 2020, the Bankruptcy Court also enjoined the proceedings against the Brandhorst Defendants. The Bankruptcy Court extended the injunction staying the proceedings against the Brandhorst Defendants on August 30, 2021, and further extended the injunction on November 29, 2021. Absent further extension, the injunction will expire on March 18, 2022.

Putative Class Action Securities Litigation (Strougo). In July 2019, a putative class action lawsuit was filed against the Company, its CEO Mark C. Trudeau, its CFO Bryan M. Reasons, its former Interim CFO George A. Kegler and its former CFO Matthew K. Harbaugh, in the U.S. District Court for the Southern District of New York, captioned Barbara Strougo v. Mallinckrodt plc, et al. The complaint purports to be brought on behalf of all persons who purchased or otherwise acquired Mallinckrodt's securities between February 28, 2018 and July 16, 2019. The lawsuit generally alleges that the defendants made false and/or misleading statements in violation of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder related to the Company's clinical study designed to assess the efficacy and safety of its Acthar Gel in patients with amyotrophic lateral sclerosis. The lawsuit seeks monetary damages in an unspecified amount. A lead plaintiff was designated by the court on June 25, 2020, and on July 30, 2020, the court approved the transfer of the case to the U.S. District Court for the District of New Jersey. On August 10, 2020, an amended complaint was filed by the lead plaintiff alleging an expended putative class period of May 3, 2016 through March 18, 2020 against the Company and Mark C. Trudeau, Bryan M. Reasons, George A. Kegler and Matthew K. Harbaugh, as well as newly named defendants Kathleen A. Schaefer, Angus C. Russell, Melvin D. Booth, JoAnn A. Reed, Paul R. Carter, and Mark J. Casey (collectively with Trudeau, Reasons, Kegler and Harbaugh, the "Strougo Defendants"). The amended complaint claims that the defendants made false and/or misleading statements and/or failed to disclose that: (i) the CMS had informed the Company that it was using the wrong base date AMP for calculating the Medicaid rebate the Company owed CMS for Acthar Gel each quarter since 2014; (ii) the Company's reported net income was improperly inflated in violation of GAAP; (iii) the Company's contingent liabilities associated with the rebates owed to CMS for Acthar Gel were misrepresented; (iv) the Company's fiscal year 2019 guidance for Acthar Gel net sales was false; (v) the Company failed to disclose material information regarding the cases captioned Landolt v. Mallinckrodt ARD LLC, No. 1:18-cv-11931-PBS (D. Mass.) (Landolt) and U.S. ex rel. Strunck v. Mallinckrodt ARD LLC, No. 2:12-cv-0175-BMS (E.D. Pa.) (Strunck), or the related investigation by the DOJ and (vi) the Company failed to disclose that the clinical trials for Acthar Gel were purportedly initiated in order to make it appear that alternative revenue opportunities for Acthar Gel existed and thus offset the expected 10% decline in net sales as a result of the rebates the Company now had to pay. On October 1, 2020, the defendants filed a motion to dismiss the amended complaint. The defendants intend to vigorously defend themselves in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit. As to the Company, this litigation is subject to the automatic stay under §362 of the Bankruptcy Code, and on December 4, 2020, the Bankruptcy Court also enjoined proceedings against the Strougo Defendants. The plaintiffs subsequently appealed the Bankruptcy Court action to the U.S. District Court in Delaware through a motion for reconsideration, which was denied by that court on January 27, 2021. The Bankruptcy Court extended the injunction staying the proceedings against the Strougo Defendants on August 30, 2021, and further extended the injunction on November 29, 2021. Absent further extension, the injunction will expire on March 18, 2022.

Employee Stock Purchase Plan (ESPP) Securities Litigation. In July 2017, a purported purchaser of Mallinckrodt stock through Mallinckrodt's ESPPs filed a derivative and class action lawsuit in the Federal District Court in the Eastern District of Missouri, captioned Solomon v. Mallinckrodt plc, et al., against the Company, its CEO, its former CFO Matthew K. Harbaugh, its Controller Kathleen A. Schaefer, and current and former directors of the Company (collectively, the "Solomon Defendants"). On September 6, 2017, plaintiff voluntarily dismissed its complaint in the Federal District Court for the Eastern District of Missouri and refiled virtually the same complaint in the D.C. District Court. The complaint purports to be brought on behalf of all persons who purchased or otherwise acquired Mallinckrodt stock between November 25, 2014, and January 18, 2017, through the ESPPs. In the alternative, the plaintiff alleges a class action for those same purchasers/acquirers of stock in the ESPPs during the same period. The complaint asserts claims under Section 11 of the Securities Act and for breach of fiduciary duty, misrepresentation, non-disclosure, mismanagement of

the ESPPs' assets and breach of contract arising from substantially similar allegations as those contained in the Shenk class action lawsuit. Stipulated co-lead plaintiffs were approved by the court on March 1, 2018. Co-lead Plaintiffs filed an amended complaint on June 4, 2018 having a class period of July 14, 2014 to November 6, 2017. The complaint seeks damages in an unspecified amount. On July 6, 2018, this matter was stayed by agreement of the parties pending resolution of the Shenk class action lawsuit. The defendants intend to vigorously defend themselves in this matter. On October 13, 2020, the trial court entered an order acknowledging the automatic stay of this litigation as to the Company pursuant to §362 of the Bankruptcy Code, and on December 4, 2020, the Bankruptcy Court also enjoined the proceedings against the individual named defendants. The Bankruptcy Court extended the injunction staying the proceedings against the individual named defendants on August 30, 2021, and further extended the injunction on November 29, 2021. Absent further extension, the injunction will expire on March 18, 2022.

Putative Class Action Securities Litigation (Shenk). In January 2017, a putative class action lawsuit was filed against the Company and its CEO in the D.C. District Court, captioned Patricia A. Shenk v. Mallinckrodt plc, et al. The complaint purports to be brought on behalf of all persons who purchased Mallinckrodt's publicly traded securities on a domestic exchange between November 25, 2014 and January 18, 2017. The lawsuit generally alleges that the Company made false or misleading statements related to Acthar Gel and Synacthen to artificially inflate the price of the Company's stock. In particular, the complaint alleges a failure by the Company to provide accurate disclosures concerning the long-term sustainability of Acthar Gel revenues and the exposure of Acthar Gel to Medicare and Medicaid reimbursement rates. On January 26, 2017, a second putative class action lawsuit, captioned Jyotindra Patel v. Mallinckrodt plc, et al. was filed against the same defendants named in the Shenk lawsuit in the D.C. District Court. The Patel complaint purports to be brought on behalf of shareholders during the same period of time as that set forth in the Shenk lawsuit and asserts claims similar to those set forth in the Shenk lawsuit. On March 13, 2017, a third putative class action lawsuit, captioned Amy T. Schwartz, et al., v. Mallinckrodt plc, et al., was filed against the same defendants named in the Shenk lawsuit in the D.C. District Court. The Schwartz complaint purports to be brought on behalf of shareholders who purchased shares of the Company between July 14, 2014 and January 18, 2017 and asserts claims similar to those set forth in the Shenk lawsuit. On March 23, 2017, a fourth putative class action lawsuit, captioned Fulton County Employees' Retirement System v. Mallinckrodt plc, et al., was filed against the Company, its CEO and its former CFO in the D.C. District Court. The Fulton County complaint purports to be brought on behalf of shareholders during the same period of time as that set forth in the Schwartz lawsuit and asserts claims similar to those set forth in the Shenk lawsuit. On March 27, 2017, four separate plaintiff groups moved to consolidate the pending cases and to be appointed as lead plaintiffs in the consolidated case. Lead plaintiff was designated by the court on March 9, 2018. Lead plaintiff filed a consolidated complaint on May 18, 2018, alleging a class period from July 14, 2014 to November 6, 2017, against the Company, its CEO, its former CFO, and Executive Vice President, Hugh O'Neill, as defendants (collectively, the "Shenk Defendants"), and containing similar claims, but further alleging misstatements regarding payer reimbursement restrictions for Acthar Gel. The consolidated complaint seeks damages in an unspecified amount. On August 30, 2018, the lead plaintiff voluntarily dismissed the claims against Mr. O'Neill without prejudice. The Company filed a motion to dismiss the complaint which was granted in part, and denied in part by the court on July 30, 2019. On September 1, 2020, the case deadlines were suspended to allow the parties to pursue mediation. On October 13, 2020, the trial court entered an order acknowledging the automatic stay of this litigation as to the Company pursuant to §362 of the Bankruptcy Code, and on December 4, 2020, the Bankruptcy Court also enjoined the proceedings against the individual named defendants. On December 4, 2020, the Bankruptcy Court granted the Company's motion pursuant to 11 U.S.C. §105 seeking to enjoin lawsuits or administrative proceedings brought by various parties, with an exception for the Shenk lawsuit solely to the extent necessary to allow the previously scheduled mediation to proceed to its conclusion and to potentially settle the Shenk lawsuit, subject to Bankruptcy Court approval. On December 7, 2020 and January 12, 2021, the parties participated in mediation sessions, which resulted in an agreement in principle to settle the Shenk lawsuit. The settlement will be funded solely from the proceeds of the remaining Shenk Defendant's applicable directors and officers liability insurance policies and is subject to approval of the D.C. District Court and the Bankruptcy Court, among other terms and conditions. On February 23, 2022, the Bankruptcy Court approved the Company's entry into the settlement.

Generic Price Fixing Litigation

Canadian (Eaton) Litigation. In December 2020, the Company received a statement of claim filed in federal court in Toronto, Ontario, Canada, naming the Company, Mallinckrodt Canada ULC, Mallinckrodt LLC and a predecessor to MNK 2011 LLC, as well as other pharmaceutical manufacturers, as defendants in an action captioned Kathryn Eaton v Teva Canada Limited et al. The claim purports to be brought on behalf of all persons or entities in Canada who, from January 1, 2012 to the present, purchased generic drugs in the private sector. The allegations and requests for relief in the statement of claim, in substance, are similar to those in the 1199SEIU National Benefit Fund litigation, and include the claim that the Company breached the Competition Act in Canada. As a result of the Eaton action being served on the Mallinckrodt defendants, Mallinckrodt Canada ULC sought, and the Canadian Court granted, an order on April 20, 2021, among other things: (1) recognizing the Chapter 11 Cases of, and granting Canadian stays with respect to, Mallinckrodt LLC and MNK 2011 LLC; and (2) declaring that the Eaton action is stayed as against each of the Mallinckrodt defendants and the named predecessor to MNK 2011 LLC.

Walgreen Litigation. In December 2020, a direct action complaint filed in the U.S. District Court for the EDPA named the Company and other pharmaceutical manufacturers as defendants in an action captioned Walgreen Company v. Actavis Holdco U.S.,

Inc., et al. The plaintiff purports to have directly purchased generic drugs from defendants or a co-conspirator. The complaint seeks monetary damages and injunctive relief for violations of Section 1 of the Sherman Antitrust Act, and is premised on facts similar to those alleged in the State Attorneys General Litigation. This lawsuit has been consolidated with the Generic Pricing MDL.

Winn-Dixie Litigation. In December 2020, a direct action complaint filed in the U.S. District Court for the EDPA named the Company and other pharmaceutical manufacturers as defendants in an action captioned Winn-Dixie Stores, Inc., et al v. Actavis Holdco US, Inc., et al. The lawsuit purports to be brought by entities that directly purchased generic drugs from defendants or a co-conspirator. The complaint seeks monetary damages and injunctive relief for violations of Section 1 of the Sherman Antitrust Act, and is premised on facts similar to those alleged in the State Attorneys General Litigation. This lawsuit has been consolidated with the Generic Pricing MDL.

J M Smith Litigation. In September 2020, a direct action complaint filed in the U.S. District Court for the EDPA named the Company and several other pharmaceutical manufacturers as new defendants in an action captioned J M Smith Corporation v. Actavis Holdco U.S., Inc. et al. The lawsuit purports to be brought by entities that directly purchased generic drugs from defendants or a co-conspirator. The complaint seeks monetary damages and injunctive relief for violations of Section 1 of the Sherman Antitrust Act, and is premised on facts similar to those alleged in the State Attorneys General Litigation. This lawsuit has been consolidated with the Generic Pricing MDL.

Suffolk County, N.Y. Litigation. In August 2020, a direct action complaint filed in the U.S. District Court for the Eastern District of New York named the Company and several other pharmaceutical manufacturers as new defendants in an action captioned County of Suffolk v. Actavis Holdco U.S., Inc. et al. The lawsuit purports to be brought by Suffolk County, New York, which directly and indirectly purchased generic drugs from defendants or a co-conspirator. The complaint seeks monetary damages and injunctive relief for violations of Sections 1 and 3 of the Sherman Antitrust Act, the Donnelly Act, New York General Business Law § 340, and New York Social Services Law § 145-b, and is premised on facts similar to those alleged in the State Attorneys General Litigation. This lawsuit has been transferred to the U.S. District Court for the EDPA and consolidated with the Generic Pricing MDL.

Rite Aid Litigation. In July 2020, a direct action complaint filed in the U.S. District Court for the EDPA named the Company and several other pharmaceutical manufacturers as new defendants in an action captioned Rite Aid Corp. et al. v. Actavis Holdco U.S., Inc. et al. The lawsuit purports to be brought by entities that directly purchased generic drugs from defendants or a co-conspirator. The complaint seeks monetary damages and injunctive relief for violations of Section 1 of the Sherman Antitrust Act, and is premised on facts similar to those alleged in the State Attorneys General Litigation. This lawsuit has been consolidated with the Generic Pricing MDL. An amended complaint was filed in December 2020.

State Attorneys General Litigation. In June 2020, the Company, along with more than 20 other pharmaceutical manufacturers, was named as a defendant in a lawsuit brought by Attorneys General for 51 States, Territories, and the District of Columbia. The lawsuit, filed in the U.S. District Court for the District of Connecticut, alleges that manufacturers of generic drugs conspired to fix prices for certain generic drugs by communicating in advance of price increases and agreeing to certain market share allocations amongst competitors to thwart competition. The lawsuit alleges that prices for the generic drugs at issue were inflated as a result of the alleged conspiracies, causing harm to the U.S. healthcare system. The complaint seeks monetary damages and injunctive relief for violations of Section 1 of the Sherman Antitrust Act and various state antitrust, consumer protection, and unjust enrichment claims. This lawsuit has been consolidated with the Generic Pricing MDL and was selected as a bellwether case in May 2021. The Company disagrees with the Attorneys Generals' characterization of the facts and applicable law.

The Kroger Co. Litigation. In February 2020, a proposed amended complaint filed in the U.S. District Court for the EDPA named the Company and several other pharmaceutical manufacturers as new defendants in an action captioned The Kroger Co., et al. v. Actavis Holdco U.S., Inc. et al. The lawsuit is brought by several entities that purportedly purchased generic drugs directly from defendants. The proposed amended complaint seeks monetary damages and injunctive relief for violations of Section 1 of the Sherman Antitrust Act, and is premised on facts similar to those alleged in the 1199SEIU National Benefit Fund and César Castillo litigations. This lawsuit has been consolidated with the Generic Pricing MDL. A revised motion for leave to file a proposed amended complaint was filed in September 2020 and remains pending.

César Castillo, Inc., Litigation. In February 2020, a putative class action lawsuit was filed against the Company and more than thirty other pharmaceutical manufacturers in the U.S. District Court for the EDPA, captioned César Castillo, Inc., et al. v. Actavis Holdco U.S., Inc., et al. The lawsuit purports to be brought on behalf of all persons or entities that directly purchased certain generic drugs from defendants or from one of defendants' direct customers-where the direct customer is alleged to be a completely involved co-conspirator-between July 1, 2009, and the present. The complaint has similar allegations as the 1199SEIU National Benefit Fund litigation and seeks damages for violations of Sections 1 and 3 of the Sherman Act. This lawsuit has been consolidated with the Generic Pricing MDL.

1199SEIU National Benefit Fund Litigation. In December 2019, a putative class action lawsuit was filed against the Company and more than thirty other pharmaceutical manufacturers in the U.S. District Court for the EDPA, captioned 1199SEIU National Benefit Fund et al. v. Actavis Holdco U.S., Inc., et al. The complaint purports to be brought on behalf of all persons and entities that indirectly purchased, paid, or provided reimbursement for the purchase of defendants' generic drugs, other than for resale, from May 2009 to the present. The lawsuit generally alleges that defendants conspired to allocate customers and fix prices for generic pharmaceutical drugs

beginning in May 2009. The complaint seeks monetary damages and injunctive relief based on violations of Sections 1 and 3 of the Sherman Act and various state antitrust, consumer protection, and unjust enrichment claims. This lawsuit has been consolidated with the Generic Pricing MDL. An amended complaint was filed on January 7, 2021.

Generic Pharmaceutical Antitrust MDL. In August 2016, a multidistrict litigation was established in the EDPA relating to allegations of antitrust violations with respect to generic pharmaceutical pricing (the "Generic Pricing MDL"). Plaintiffs in the Generic Pricing MDL, captioned In re: Generic Pharmaceuticals Pricing Antitrust Litigation, allege a conspiracy of price-fixing and customer allocation among generic drug manufacturers beginning in or around July 2009. Since its establishment, the Generic Pricing MDL has expanded to encompass dozens of pharmaceutical companies and more than 200 generic pharmaceutical drugs. Plaintiffs in the Generic Pricing MDL have proceeded with discovery collectively and recently issued subpoenas to former Company employees. On October 18, 2021, the Company agreed to provide limited discovery. The Company intends to vigorously defend itself in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit.

Xyrem Litigation

Self-Insured Schools Litigation. In August 2020, a complaint filed in the U.S. District Court for the Southern District of New York named the Company and several other pharmaceutical manufacturers as new defendants in an action captioned Self-Insured Schools of California v. Jazz Pharmaceuticals Plc et al. The lawsuit is brought on behalf of a purported class of individuals and entities that indirectly purchased Xyrem (sodium oxybate). The complaint alleges that Jazz Pharmaceuticals delayed generic competition by the Company and others by providing substantial consideration to the Company and others to delay market entry for sodium oxybate, causing consumers to pay supracompetitive prices for Xyrem and its generic bioequivalent products. The complaint seeks monetary damages and declaratory and injunctive relief for violations of Sections 1 and 3 of the Sherman Antitrust Act, Section 16 of the Clayton Antitrust Act, and various state antitrust laws and, state consumer protection statutes, and state laws prohibiting unfair and deceptive practices. The Company intends to vigorously defend itself in this matter. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with this lawsuit.

Environmental Remediation and Litigation Proceedings

The Company is involved in various stages of investigation and cleanup related to environmental remediation matters at a number of sites, including those described below. The ultimate cost of site cleanup and timing of future cash outlays is difficult to predict, given the uncertainties regarding the extent of the required cleanup, the interpretation of applicable laws and regulations and alternative cleanup methods. The Company concluded that, as of December 31, 2021, it was probable that it would incur remediation costs in the range of $72.3 million to $120.9 million. The Company also concluded that, as of December 31, 2021, the best estimate within this range was $95.8 million, of which $0.8 million was included in accrued and other current liabilities, $52.0 million was included in LSTC, and the remaining $43.0 million was included in environmental liabilities on the consolidated balance sheet as of December 31, 2021. While it is not possible at this time to determine with certainty the ultimate outcome of these matters, the Company believes, given the information currently available, that the final resolution of all known claims, after taking into account amounts already accrued, will not have a material adverse effect on its financial condition, results of operations and cash flows.

Lower Passaic River, New Jersey. The Company and approximately 70 other companies (“Cooperating Parties Group” or “CPG”) are parties to a May 2007 Administrative Order on Consent ("AOC") with the Environmental Protection Agency ("EPA") to perform a remedial investigation and feasibility study ("RI/FS") of the 17-mile stretch known as the Lower Passaic River ("the River") Study Area. The Company's potential liability stems from former operations at Lodi and Belleville, New Jersey.

In April 2014, the EPA issued a revised Focused Feasibility Study ("FFS"), with remedial alternatives to address cleanup of the lower 8-mile stretch of the River. The EPA estimated the cost for the remediation alternatives ranged from $365.0 million to $3.2 billion and the EPA's preferred approach had an estimated cost of $1.7 billion.

In April 2015, the CPG presented a draft of the RI/FS of the River to the EPA that included alternative remedial actions for the entire 17-mile stretch of the River.

In March 2016, the EPA issued the Record of Decision ("ROD") for the lower 8 miles of the River with a slight modification on its preferred approach and a revised estimated cost of $1.38 billion. In October 2016, the EPA announced that Occidental Chemicals Corporation ("OCC") had entered into an agreement to develop the remedial design.

In August 2018, the EPA finalized a buyout offer of $280,600 with the Company, limited to its former Lodi facility, for the lower 8 miles of the River.

On September 28, 2021, the EPA issued the Record of Decision for the upper 9 miles of the River selecting source control as the remedy for the upper 9 miles with an estimated cost of $441.0 million.

As of December 31, 2021, the Company estimated that its remaining liability related to the River was $26.1 million, of which $4.6 million was included in LSTC and the remainder was included within in environmental liabilities on the consolidated balance sheet as of December 31, 2021. Despite the issuance of the revised FFS and the RODs for both the lower and upper River by the EPA, the RI/FS by the CPG, and the cash out settlement by the EPA there are many uncertainties associated with the final agreed-upon remediation, potential future liabilities and the Company's allocable share of the remediation. Given those uncertainties, the amounts accrued may not be indicative of the amounts for which the Company may be ultimately responsible and will be refined as the remediation progresses.

Occidental Chemical Corp. v. 21st Century Fox America, Inc. The Company and approximately 120 other companies were named as defendants in a lawsuit filed in June 2018, by OCC, in which OCC seeks cost recovery and contribution for past and future costs in response to releases and threatened releases of hazardous substances into the lower 8 miles of the River. A former Mallinckrodt facility located in Jersey City, NJ (located in Newark Bay) and the former Belleville facility were named in the suit. Due to an indemnification agreement with AVON Inc., Mallinckrodt has tendered the liability for the Jersey City site to AVON Inc. and they have accepted. Although the Company was not named as a defendant for the Belleville facility, the Company retains a share of the liability for this suit. A motion to dismiss several of the claims was denied by the court. While it is not possible at this time to determine with certainty the ultimate outcome of this matter, the Company believes, given the information currently available, that the ultimate resolution of all known claims, after taking into account amounts already accrued will not have a material adverse effect on its financial condition, results of operations and cash flows.

Crab Orchard National Wildlife Refuge Superfund Site, near Marion, Illinois. Between 1967 and 1982, International Minerals and Chemicals Corporation ("IMC"), a predecessor in interest to the Company, leased portions of the Additional and Uncharacterized Sites ("AUS") Operable Unit at the Crab Orchard Superfund Site ("the CO Site") from the government and manufactured various explosives for use in mining and other operations. In March 2002, the DOJ, the U.S. Department of the Interior and the EPA (together, "the Government Agencies") issued a special notice letter to General Dynamics Ordnance and Tactical Systems, Inc. ("General Dynamics"), one of the other potentially responsible parties ("PRPs") at the CO Site, to compel General Dynamics to perform the RI/FS for the AUS Operable Unit. General Dynamics negotiated an AOC with the Government Agencies to conduct an extensive RI/FS at the CO Site under the direction of the U.S. Fish and Wildlife Service. General Dynamics asserted in August 2004 that the Company is jointly and severally liable, along with approximately eight other lessees and operators at the AUS Operable Unit, for costs associated with alleged contamination of soils and groundwater resulting from historic operations, and the parties have entered into a non-binding mediation process. However, the mediation process has indefinitely stalled due to an "internal issue" that the U.S. is facing and cannot seem to resolve.

During the three months ended December, 31, 2021, the Company increased the accrual associated with this matter by $34.3 million to $46.3 million, which represents the Company's estimate of its liability related to this environmental site, all of which was reflected within LSTC on the consolidated balance sheet as of December 31, 2021. The non-cash charge of $34.3 million was reflected in the consolidated statement of operations as a component of operating expenses. While it is not possible at this time to determine with certainty the ultimate outcome of this matter, the Company believes, given the information currently available, that the final resolution of all known claims, after taking into account amounts already accrued, will not have a material adverse effect on its financial condition, results of operations and cash flows.

Products Liability Litigation

Beginning with lawsuits brought in July 1976, the Company is named as a defendant in personal injury lawsuits based on alleged exposure to asbestos-containing materials. A majority of the cases involve product liability claims based principally on allegations of past distribution of products containing asbestos. A limited number of the cases allege premises liability based on claims that individuals were exposed to asbestos while on the Company's property. Each case typically names dozens of corporate defendants in addition to the Company. The complaints generally seek monetary damages for personal injury or bodily injury resulting from alleged exposure to products containing asbestos. The Company's involvement in asbestos cases has been limited because it did not mine or produce asbestos. Furthermore, in the Company's experience, a large percentage of these claims have never been substantiated and have been dismissed by the courts. The Company has not suffered an adverse verdict in a trial court proceeding related to asbestos claims and intends to continue to defend these lawsuits. When appropriate, the Company settles claims; however, amounts paid to settle and defend all asbestos claims have been immaterial. As of December 31, 2021, there were approximately 11,800 asbestos-related cases pending against the Company.

The Company estimates pending asbestos claims, claims that were incurred but not reported and related insurance recoveries, which are recorded on a gross basis in the consolidated balance sheets. The Company's estimate of its liability for pending and future claims is based on claims experience over the past four years and covers claims either currently filed or expected to be filed over the next seven years. The Company believes that it has adequate amounts recorded related to these matters. While it is not possible at this time to determine with certainty the ultimate outcome of these asbestos-related proceedings, the Company believes, given the information currently available, that the ultimate resolution of all known and anticipated future claims, after taking into account

amounts already accrued, along with recoveries from insurance, will not have a material adverse effect on its financial condition, results of operations and cash flows.

Internal Revenue Code Section 453A Interest

As a result of historical internal installment sales, the Company has reported IRC §453A interest on its tax returns on the basis of its interpretation of the IRC. Alternative interpretations of these provisions could result in additional interest payable. Due to the inherent uncertainty in these interpretations, the Company has deferred the recognition of the benefit associated with the Company's interpretation and maintained a corresponding liability of $12.4 million and $28.2 million as of December 31, 2021 and December 25, 2020, respectively. The decrease of $15.8 million was recognized as a benefit to interest expense during fiscal 2021 due to lapses of certain statutes of limitations. Further favorable resolution of this uncertainty would likely result in a reversal of this liability and a benefit being recorded to interest expense within the consolidated statements of operations.

Other Matters

The Company is a defendant in a number of other pending legal proceedings relating to present and former operations, acquisitions and dispositions. The Company does not expect the outcome of these proceedings, either individually or in the aggregate, to have a material adverse effect on its financial condition, results of operations and cash flows.

Financial Instruments and Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measurements


20.			Financial Instruments and Fair Value Measurements

Fair value is defined as the exit price that would be received from the sale of an asset or paid to transfer a liability, using assumptions that market participants would use in pricing an asset or liability. The fair value guidance establishes a three-level fair value hierarchy, which maximizes the use of observable inputs and minimizes the use of unobservable inputs used in measuring fair value. The levels within the hierarchy are as follows:

Level 1— observable inputs such as quoted prices in active markets for identical assets or liabilities;

Level 2— significant other observable inputs that are observable either directly or indirectly; and

Level 3— significant unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions.

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:


	December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	38.7	$	24.9	$	13.8	$	—
Equity securities	36.5		36.5		—		—
	$	75.2	$	61.4	$	13.8	$	—
Liabilities:
Deferred compensation liabilities (1)	$	36.9	$	—	$	36.9	$	—
Contingent consideration liabilities (2)	27.3		—		—		27.3

	$	64.2	$	—	$	36.9	$	27.3

(1)On November 16, 2020, the Debtors received approval from the Bankruptcy Court to maintain existing postretirement benefit plans during the pendency of the Chapter 11 Cases. For further information refer to Note 2.

(2)These liabilities are governed by executory contracts and recorded at their estimated allowed claim amount within liabilities subject to compromise on the consolidated balance sheet as of December 31, 2021. For further information on executory contracts and LSTC refer to Note 2.


	December 25, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	33.0	$	23.5	$	9.5	$	—
Equity securities	31.1		31.1		—		—
	$	64.1	$	54.6	$	9.5	$	—
Liabilities:
Deferred compensation liabilities (1)	$	38.0	$	—	$	38.0	$	—
Contingent consideration liabilities (2)	34.7		—		—		34.7

	$	72.7	$	—	$	38.0	$	34.7

(2)These liabilities are governed by executory contracts and recorded at their estimated allowed claim amount within liabilities subject to compromise on the consolidated balance sheet as of December 25, 2020. For further information on executory contracts and LSTC refer to Note 2.

Debt and equity securities held in rabbi trusts. Debt securities held in rabbi trusts primarily consist of U.S. government and agency securities and corporate bonds. When quoted prices are available in an active market, the investments are classified as level 1. When quoted market prices for a security are not available in an active market, they are classified as level 2. Equity securities held in rabbi trusts primarily consist of U.S. common stocks, which are valued using quoted market prices reported on nationally recognized securities exchanges.

Equity securities. Equity securities consist of shares in Silence, for which quoted prices are available in an active market; therefore, the investment is classified as level 1 and is valued based on quoted market prices reported on an internationally recognized securities exchange.

In July 2019, the Company remitted $5.0 million of consideration to Silence in exchange for equity shares. As part of this equity investment, the Company took a non-executive Director seat on the Silence Board of Directors. The Company's investment in Silence qualifies for equity method accounting given its ability to exercise significant influence; however, the Company elected the fair value method to account for its investment in Silence. During fiscal 2021, 2020 and 2019, the Company recognized an unrealized gain of $4.7 million, $3.8 million and $20.2 million, respectively, related to this investment within other income, net in the consolidated statement of operations.

Deferred compensation liabilities. The Company maintains a non-qualified deferred compensation plan in the U.S., which permits eligible employees of the Company to defer a portion of their compensation. A recordkeeping account is set up for each participant and the participant chooses from a variety of funds for the deemed investment of their accounts. The recordkeeping accounts generally correspond to the funds offered in the Company's U.S. tax-qualified defined contribution retirement plan and the account balance fluctuates with the investment returns on those funds.

Contingent consideration liabilities. As part of the acquisition of Stratatech Corporation ("Stratatech") in August 2016, the Company provided contingent consideration to the prior shareholders of Stratatech, primarily in the form of regulatory filing and approval milestones associated with the deep partial-thickness and full-thickness indications associated with StrataGraft. For each indication, the Company is responsible for a payment upon acceptance of the Company's submission and another upon approval by the FDA. The Company assesses the likelihood of and timing of making such payments at each balance sheet date. The fair value of the contingent payments was measured based on the net present value of a probability-weighted assessment. The Company determined the fair value of the contingent consideration associated with the acquisition of Stratatech to be $27.3 million and $19.1 million at December 31, 2021 and December 25, 2020, respectively.

As part of the acquisition of Ocera Therapeutics, Inc. ("Ocera"), the Company provided contingent consideration to the prior shareholders of Ocera in the form of both patient enrollment clinical study milestones and sales-based milestones associated with MNK-6105 and MNK-6106. During fiscal 2021, the Company determined it would no longer pursue further development of this asset. The Company determined the fair value of the contingent consideration based on an option pricing model to be zero and $15.6 million as of December 31, 2021 and December 25, 2020, respectively.

All contingent consideration liabilities were classified as LSTC in the consolidated balance sheets as of December 31, 2021 and December 25, 2020. The following table summarizes the fiscal 2021 activity for contingent consideration:


Balance as of December 25, 2020	$	34.7




Fair value adjustments	(7.4)
Less: Liabilities subject to compromise	(27.3)
Balance as of December 31, 2021	$	—

Financial Instruments Not Measured at Fair Value

The following methods and assumptions were used by the Company in estimating fair values for financial instruments not measured at fair value as of December 31, 2021 and December 25, 2020:

•The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and the majority of other current assets and liabilities approximate fair value because of their short-term nature. The Company classifies cash on hand and deposits in banks, including commercial paper, money market accounts and other investments it may hold from time to time, with an original maturity of three months or less, as cash and cash equivalents (level 1). The fair value of restricted cash was equivalent to its carrying value of $60.2 million and $56.4 million as of December 31, 2021 and December 25, 2020, (level 1), respectively. As of December 31, 2021, $24.0 million and $36.2 million of the restricted cash balance was included in prepaid and other current assets and other assets, respectively, on the consolidated balance sheet. As of December 25, 2020, $20.2 million and $36.2 million of the restricted cash balance was included in prepaid and other current assets and other assets, respectively, on the consolidated balance sheet.

•The Company's life insurance contracts are carried at cash surrender value, which is based on the present value of future cash flows under the terms of the contracts (level 3). Significant assumptions used in determining the cash surrender value include the amount and timing of future cash flows, interest rates and mortality charges. The fair value of these contracts approximates the carrying value of $51.3 million and $52.3 million at December 31, 2021 and December 25, 2020, respectively. These contracts are included in other assets on the consolidated balance sheets.

•The carrying value of the Company's revolving credit facility approximates the fair value due to the short-term nature of this instrument and is therefore classified as level 1. The Company's 5.75%, 4.75%, 5.625%, 5.50% and 10.00% first and second lien senior notes are classified as level 1, as quoted prices are available in an active market for these notes. Since the quoted market prices for the Company's term loans and 9.50% and 8.00% debentures are not available in an active market, they are classified as level 2 for purposes of developing an estimate of fair value. The following table presents the carrying values and estimated fair values of the Company's debt as of the end of each period:


	December 31, 2021				December 25, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
Level 1:
5.75% senior notes due August 2022	$	610.3	$	324.1	$	610.3	$	191.2
4.75% senior notes due April 2023	133.7		48.9		133.7		11.1
5.625% senior notes due October 2023	514.7		279.1		514.7		158.9
5.50% senior notes due April 2025	387.2		211.6		387.2		115.4
10.00% first lien senior notes due April 2025	495.0		523.7		495.0		528.4
10.00% second lien senior notes due April 2025	322.9		312.7		322.9		279.0
Revolving credit facility	900.0		900.0		900.0		900.0
Level 2:
9.50% debentures due May 2022	10.4		7.7		10.4		4.2
8.00% debentures due March 2023	4.4		3.2		4.4		1.3
Term loan due September 2024	1,396.5		1,309.2		1,505.2		1,386.9
Term loan due February 2025	370.7		347.7		399.5		367.9
Total Debt	$	5,145.8	$	4,267.9	$	5,283.3	$	3,944.3

Concentration of Credit and Other Risks

Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of accounts receivable. The Company generally does not require collateral from customers. A portion of the Company's accounts receivable

outside the U.S. includes sales to government-owned or supported healthcare systems in several countries, which are subject to payment delays. Payment is dependent upon the financial stability and creditworthiness of those countries' national economies.

The following table shows net sales attributable to distributors that accounted for 10.0% or more of the Company's total segment net sales, which excludes the one-time charge related to the Medicaid lawsuit:


	Fiscal Year
	2021		2020		2019
CuraScript, Inc.	26.1	%	27.4	%	29.7	%

AmerisourceBergen Corporation	*		*		10.2

* Net sales to this distributor 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:


	December 31, 2021	December 25, 2020
AmerisourceBergen Corporation	30.0%	33.6%
McKesson Corporation	15.0	18.2
CuraScript, Inc.	12.7	*

* Accounts receivable attributable to this distributor was less than 10.0% of total gross accounts receivable at the end of the respective period presented above.

The following table shows net sales attributable to products that accounted for 10.0% or more of the Company's total segment net sales, which excludes the one-time charge related to the Medicaid lawsuit:


	Fiscal Year
	2021		2020		2019
Acthar Gel	26.9	%	27.9	%	30.1	%
INOmax	20.3		20.9		18.1
Therakos	12.1		*		*
Ofirmev	*		10.1		12.1

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment and Geographical Data

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment and Geographical Data


21.			Segment and Geographical Data

The Company operates in two reportable segments, which are further described below:

•Specialty Brands includes innovative specialty pharmaceutical brands; and

•Specialty Generics includes niche specialty generic drugs and API(s).

Management measures and evaluates the Company's operating segments based on segment net sales and operating income. Management excludes corporate expenses from segment operating income. In addition, certain amounts that management considers to be non-recurring or non-operational are excluded from segment net sales and operating income because management and the chief operating decision maker evaluate the operating results of the segments excluding such items. These items may include, but are not limited to, depreciation and amortization, share-based compensation, net restructuring charges, non-restructuring impairment charges, separation costs, R&D upfront payments, changes related to the Opioid-Related Litigation Settlement and the Acthar Gel Medicaid Retrospective Rebate incurred as a result of the Medicaid lawsuit. Although these amounts are excluded from segment net sales and operating income, as applicable, they are included in reported consolidated net sales and operating loss and are reflected in the reconciliations presented below.

Management manages assets on a total company basis, not by operating segment. The Company's chief operating decision maker does not regularly review any asset information by operating segment and, accordingly, the Company does not report asset information by operating segment. Total assets were approximately $8,916.3 million and $9,715.4 million as of December 31, 2021 and December 25, 2020, respectively.

Selected information by reportable segment was as follows:


	Fiscal Year
	2021		2020		2019
Net sales:
Specialty Brands (1)	$	1,547.0	$	2,059.6	$	2,423.8
Specialty Generics	661.8		689.8		738.7
Segment net sales	2,208.8		2,749.4		3,162.5
Medicaid lawsuit (Note 19) (1)	—		(536.0)		—
Net sales	$	2,208.8	$	2,213.4	$	3,162.5
Operating loss:
Specialty Brands	$	812.8	$	1,015.7	$	1,210.1
Specialty Generics	107.9		206.4		168.5
Segment operating income	920.7		1,222.1		1,378.6
Unallocated amounts:
Corporate and unallocated expenses (2)	(129.6)		(166.1)		(102.3)
Depreciation and amortization	(675.8)		(885.2)		(951.1)
Share-based compensation	(10.2)		(25.3)		(33.8)
Restructuring charges, net	(26.9)		(37.5)		1.7
Non-restructuring impairment charges	(154.9)		(63.5)		(388.0)
Separation costs (3)	(1.2)		(93.4)		(63.9)
R&D upfront payment (4)	—		(5.0)		(20.0)
Opioid-related litigation settlement gain (loss) (Note 19)	(125.0)		43.4		(1,643.4)
Medicaid lawsuit (Note 19) (1)	—		(641.1)		—
Operating loss	$	(202.9)	$	(651.6)	$	(1,822.2)

Depreciation and amortization:
Specialty Brands	$	597.7	$	799.3	$	862.4
Specialty Generics	78.1		85.9		88.7
	$	675.8	$	885.2	$	951.1

(1)Specialty Brands net sales for fiscal 2020 includes the prospective change to the Medicaid rebate calculation, which served to reduce Acthar Gel net sales by $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.

(2)Includes administration expenses and certain compensation, legal, environmental and other costs not charged to the Company's reportable segments.

(3)Represents costs included in SG&A expenses, primarily related to professional fees and costs incurred in preparation for the Chapter 11 proceedings. As of the Petition Date, professional fees directly related to the Chapter 11 proceedings that were previously reflected as separation costs are being classified on a go-forward basis as reorganization items, net.

(4)Represents R&D expense incurred related to an upfront payment made to acquire product rights in Japan for terlipressin during fiscal 2020 and an upfront payment made to Silence in connection with the license and collaboration agreement entered into in fiscal 2019. See Note 6 for further information.

Net sales by product family within the Company's reportable segments were as follows:


	Fiscal Year
	2021		2020		2019
Acthar Gel (1)	$	593.6	$	767.9	$	952.7
INOmax	448.5		574.1		571.4
Ofirmev	28.9		276.5		384.0
Therakos	266.5		238.6		246.9
Amitiza (2)	196.9		188.8		208.5
Other (3)	12.6		13.7		60.3
Specialty Brands	1,547.0		2,059.6		2,423.8

Hydrocodone (API) and hydrocodone-containing tablets	82.7		98.0		76.3
Oxycodone (API) and oxycodone-containing tablets	68.5		68.4		74.9
Acetaminophen (API)	215.9		213.0		189.9
Other controlled substances	272.7		289.9		352.5
Other	22.0		20.5		45.1
Specialty Generics	661.8		689.8		738.7
Segment net sales	2,208.8		2,749.4		3,162.5
Medicaid lawsuit (Note 19)	—		(536.0)		—
Net Sales	$	2,208.8	$	2,213.4	$	3,162.5

(1)Fiscal 2020 includes the prospective change to the Medicaid rebate calculation of $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.

(2)Amitiza net sales consist of both product and royalty net sales. Refer to Note 4 for further details on Amitiza's revenues.

(3)Fiscal 2019 includes $40.1 million of net sales related to BioVectra prior to the completion of the sale of this business in November 2019. Refer to Note 5 for further details.

Selected information by geographic area was as follows:


	Fiscal Year
	2021		2020		2019
Net sales (1):
U.S.	$	1,991.8	$	2,465.5	$	2,765.6
Europe, Middle East and Africa	181.8		227.5		281.8
Other	35.2		56.4		115.1
Geographic area net sales	2,208.8		2,749.4		3,162.5
Medicaid lawsuit (Note 19)	—		(536.0)		—
Net Sales	$	2,208.8	$	2,213.4	$	3,162.5

	December 31, 2021		December 25, 2020
Long-lived assets (2):
U.S.	$	629.3	$	676.3
Europe, Middle East and Africa (3)	156.2		165.5
Other	4.7		4.6
	$	790.2	$	846.4

(1)Net sales are attributed to regions based on the location of the entity that records the transaction, none of which relate to the country of Ireland.

(2)Long-lived assets are primarily composed of property, plant and equipment, net.

(3)Includes long-lived assets located in Ireland of $154.5 million and $164.0 million as of December 31, 2021 and December 25, 2020, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events


22.			Subsequent Events

Bankruptcy Proceedings

The Debtors filed a fourth amendment to the Amended Plan on January 6, 2022. On February 3, 2022, the Bankruptcy Court issued a written ruling confirming the Chapter 11 plan (which was subsequently revised February 8, 2022 to make minor corrections).

On March 2, 2022, the Bankruptcy Court entered the Confirmation Order confirming the fourth amended joint plan of reorganization (with technical modifications) proposed by the Debtors (the "Plan").

It is a condition precedent to the consummation of the Plan that the High Court of Ireland shall make an order pursuant to Section 541 of the Companies Act of Ireland confirming a scheme of arrangement with respect to Mallinckrodt plc which is based on and consistent in all respects with the Plan (a “Scheme of Arrangement”), and that such Scheme of Arrangement shall become effective in accordance with its terms (or shall become effective concurrently with the effectiveness of the Plan). As contemplated by the Plan, and in furtherance of the satisfaction of such condition precedent, on February 14, 2022 the directors of Mallinckrodt plc initiated examinership proceedings with respect to Mallinckrodt plc (the “Irish Examinership Proceedings”) by presenting a petition (the “Examinership Petition”) to the High Court of Ireland pursuant to Section 510(1)(b) of the Companies Act of Ireland seeking the appointment of an examiner to Mallinckrodt plc (the “Examiner”). On the same date, following an ex parte application made by the directors of Mallinckrodt plc, the High Court of Ireland made an order appointing the Examiner on an interim basis pending the hearing of the Examinership Petition. The hearing of the Examinership Petition took place before the High Court in Dublin, Ireland on Monday, February 28, 2022. Following that hearing, and on the same date, the High Court of Ireland made an order confirming that appointment of the Examiner. Subsequently, on March 8, 2022, the High Court of Ireland made various orders directing the Examiner to convene meetings of the creditors and shareholders of Mallinckrodt plc for the purposes of considering and voting in relation to a proposed Scheme of Arrangement that, if confirmed by High Court of Ireland, will implement certain Irish law aspects of the Plan. The Examiner is currently in the process of convening such meetings, which are scheduled to be held over the course of April 4, 2022. If the majority in value and number of at least one class of creditors in attendance at the meetings whose interests are impaired by the proposed Scheme of Arrangement vote to accept it, the Examiner will seek a confirmation order from the High Court of Ireland with respect thereto, at a hearing that is currently anticipated to be convened at the end of April 2022.

During the continuance of the Irish Examinership Proceedings, Mallinckrodt plc will be under the protection of the High Court of Ireland. During the period of court protection, no proceedings can be commenced in Ireland to wind up Mallinckrodt plc, and no action can be taken by creditors to enforce security or take possession of any assets of Mallinckrodt plc, without the consent of the Examiner. The period of court protection will subsist for an initial 70 days, which can, in certain circumstances, be extended by order of the High Court of Ireland for a further 30 days, and potentially an additional 50 days after such 30-day period.

Certain bankruptcy proceeding matters occurred in fiscal 2021 or prior but had subsequent updates through the date of this report. See further discussion in Note 2.

Commitments and Contingencies

Certain litigation matters occurred in fiscal 2021 or prior but had subsequent updates through the date of this report. See further discussion in Note 19.

Schedule II - Valuation and Qualifying Accounts (Notes)

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Financial Statement Schedules. The financial statement schedule is included below. All other schedules have been omitted because they are not applicable, not required or the information is included in the financial statements or notes thereto.


Schedule II - Valuation and Qualifying Accounts
(in millions)
Description	Balance at Beginning of Period		Charged to Operations		Additions and Other		Deductions		Balance at End of Period
Allowance for doubtful accounts:
Fiscal year ended December 31, 2021	$	4.5	$	1.2	$	—	$	(1.0)	$	4.7
Fiscal year ended December 25, 2020	4.0		1.2		—		(0.7)		4.5
Fiscal year ended December 27, 2019	5.0		1.5		—		(2.5)		4.0
Sales reserve accounts:
Fiscal year ended December 31, 2021	$	235.4	$	2,166.0	$	—	$	(2,128.6)	$	272.8
Fiscal year ended December 25, 2020 (1)	337.4		2,154.3		536.0		(2,792.3)		235.4
Fiscal year ended December 27, 2019	405.4		2,437.7		—		(2,505.7)		337.4
Tax valuation allowance:
Fiscal year ended December 31, 2021	$	6,110.8	$	233.4	$	—	$	—	$	6,344.2
Fiscal year ended December 25, 2020	3,131.5		2,979.3		—		—		6,110.8
Fiscal year ended December 27, 2019	2,604.9		526.6		—		—		3,131.5

Background and Basis of Presentation (Policies)	12 Months Ended
Background and Basis of Presentation (Policies)	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	The consolidated financial statements have been prepared in U.S. dollars and in accordance with accounting principles generally accepted in the U.S. ("GAAP").
Use of Estimates	The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results may differ from those estimates.
Consolidation	The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries and entities in which they own or control more than 50.0% of the voting shares, or have the ability to control through similar rights. All intercompany balances and transactions have been eliminated in consolidation and all normal recurring adjustments necessary for a fair presentation have been included in the results reported.
Fiscal Period	Fiscal Year The Company reports its results based on a "52-53 week" year ending on the last Friday of December. Fiscal 2021 consisted of 53 weeks and fiscal 2020 and 2019 each consisted of 52 weeks. Unless otherwise indicated, fiscal 2021, 2020 and 2019 refer to the Company's fiscal years ended December 31, 2021, December 25, 2020 and December 27, 2019, respectively.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Revenue Recognition

Product Sales Revenue

Reserve for Variable Considerations

•For those contracts whereby revenue is recognized over time based upon consumption of the product, the Company either has:

2.the remaining goods and services to which the customer is entitled is diminished upon consumption.

Transaction price allocated to the remaining performance obligations

Cost to obtain a contract

Costs to fulfill a contract

Product Royalty Revenues

Contract Balances

Research and Development

Currency Translation

Cash and Cash Equivalents

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful AccountsTrade accounts receivable are presented net of an allowance for doubtful accounts. The allowance for doubtful accounts reflects an estimate of losses inherent in the Company's accounts receivable portfolio determined on the basis of historical experience, current facts and circumstances, reasonable and supportable forecasts and other available evidence. Accounts receivable are written off when management determines they are uncollectible. Trade accounts receivable are also presented net of reserves related to chargebacks and rebates payable to customers with whom the Company has trade accounts receivable and the right of offset exists.

Inventories

Property, Plant and Equipment


Buildings	10	to	45 years
Leasehold improvements	1	to	20 years
Capitalized software	1	to	10 years
Machinery and equipment	1	to	20 years

The Company capitalizes certain computer software and development costs incurred in connection with developing or obtaining software for internal use.

Leases

Acquisitions

Goodwill and Other Intangible Assets

Intangible Assets


Completed technology	9	to	25 years
License agreements			30 years
Trademarks	22	to	30 years

Contingencies

Share-Based Compensation

Share-Based CompensationThe Company recognizes the cost of employee services received in exchange for awards of equity instruments based on the grant-date fair value of those awards. That cost is recognized over the period during which an employee is required to provide service in exchange for the award, the requisite service period (generally the vesting period).

Restructuring

RestructuringThe Company recognizes charges associated with the Company's Board of Directors approved restructuring programs designed to transform its business and improve its cost structure. Restructuring charges can include severance costs, infrastructure charges, distributor contract cancellations and other items. The Company accrues for costs when they are probable and reasonably estimable.

Income Taxes

Liabilities Subject to Compromise

As a result of the commencement of the Chapter 11 Cases, the payment of pre-petition liabilities is subject to compromise or other treatment pursuant to a plan of reorganization. The determination of how liabilities will ultimately be settled or treated cannot be made until the confirmed Chapter 11 plan of reorganization becomes effective. Accordingly, the ultimate amount of such liabilities is not determinable at this time. Pre-petition liabilities that are subject to compromise are to be reported at the amounts expected to be allowed by the Bankruptcy Court, even if they may be settled for different amounts. The amounts currently classified as LSTC are preliminary and may be subject to future adjustments depending on Bankruptcy Court actions, further developments with respect to disputed claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, rejection of executory contracts, continued reconciliation or other events.

Earnings (Loss) per Share (Policies)	12 Months Ended
Earnings (Loss) per Share (Policies)	Dec. 31, 2021
Earnings (Loss) per Share [Abstract]
Earnings (Loss) Per Share Policy	Loss per share is computed by dividing net loss by the number of weighted-average shares outstanding during the period. Dilutive securities, including participating securities, have not been included in the computation of loss per share as the Company reported a net loss from continuing operations during all periods presented below and therefore, the impact would have been anti-dilutive.

Reorganizations (Tables)

12 Months Ended

Dec. 31, 2021

Reorganizations [Abstract]

Schedule of Debtor Reorganization Items, net

Reorganization items, for fiscal 2021 and 2020 include the following:


	Fiscal Year
	2021		2020
Professional fees	$	405.6	$	51.1
Debt valuation adjustments	23.1		10.2
Adjustments of other claims	(0.5)		0.1
Total reorganization items, net	$	428.2	$	61.4

Schedule of Liabilities Subject to Compromise

Liabilities subject to compromise at the end of each period consisted of the following:


	December 31, 2021		December 25, 2020
Accounts payable (1)	$	42.9	$	61.9
Accrued interest	35.2		35.2
Debt (2)	3,750.8		1,660.7
Environmental liabilities (3)	52.0		—

Medicaid lawsuit	634.7		638.9
Opioid-related litigation settlement liability (4)	1,725.0		1,600.0
Other current and non-current liabilities (5)	125.1		163.5
Pension and postretirement benefits	32.0		32.4
Total liabilities subject to compromise	$	6,397.7	$	4,192.6

(1)Pre-petition accounts payable balances have been repaid under effectuated trade agreements pursuant to the critical vendor motion approved by the Bankruptcy Court.

(3)Represents certain environmental liabilities intended to be discharged upon effectiveness of the plan of reorganization.

Schedule of Interest Expense Incurred and Paid


	Fiscal Year
	2021		2020
Interest expense incurred for adequate protection payments	$	63.1	$	11.7
Cash paid for adequate protection payments	66.7		7.8

Non-debtor Entity Intercompany Balances

Non-debtor entity intercompany balances from/due to the debtor entities at the end of each period were:


	December 31, 2021		December 25, 2020
Intercompany receivables	$	119.1	$	282.3
Intercompany payables	112.9		120.3

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Useful Lives for Property, Plant and Equipment

Property, Plant and Equipment


Buildings	10	to	45 years
Leasehold improvements	1	to	20 years
Capitalized software	1	to	10 years
Machinery and equipment	1	to	20 years

The Company capitalizes certain computer software and development costs incurred in connection with developing or obtaining software for internal use.

Schedule of Useful Lives for Finite Lived Intangible Assets

The estimated useful lives of the Company's intangible assets as of December 31, 2021 were the following:


Completed technology	9	to	25 years
License agreements			30 years
Trademarks	22	to	30 years

Shipping and Handling Cost

Shipping costs included in SG&A expenses in continuing operations were as follows:


	Fiscal Year
	2021		2020		2019
Shipping costs	$	23.6	$	20.1	$	17.6

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Sales Reserves Rollforward

The following table reflects activity in the Company's sales reserve accounts:


	Rebates and Chargebacks		Product Returns		Other Sales Deductions		Total
Balance as of December 28, 2018	$	354.3	$	34.0	$	17.1	$	405.4
Provisions	2,347.3		22.2		68.2		2,437.7
Payments or credits	(2,405.8)		(27.8)		(72.1)		(2,505.7)
Balance as of December 27, 2019	295.8		28.4		13.2		337.4
Provisions	2,065.9		28.9		59.5		2,154.3
Provision for Medicaid lawsuit (Note 19) (1)	536.0		—		—		536.0
Payments or credits	(2,701.2)		(30.7)		(60.4)		(2,792.3)
Balance as of December 25, 2020	196.5		26.6		12.3		235.4
Provisions	2,087.1		23.7		55.2		2,166.0
Payments or credits	(2,041.8)		(28.8)		(58.0)		(2,128.6)
Balance as of December 31, 2021	$	241.8	$	21.5	$	9.5	$	272.8

Disaggregation of Revenue

Product sales transferred to customers at a point in time and over time were as follows:


	Fiscal Year
	2021		2020		2019
Product sales transferred at a point in time	79.4	%	78.9	%	81.8	%
Product sales transferred over time	20.6		21.1		18.2

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Transaction price allocated to the remaining performance obligations


Fiscal 2022	$	112.1
Fiscal 2023	69.7
Thereafter	14.7

Restructuring and Related Charges (Tables)

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Charges by Segment

Net restructuring and related charges by segment were as follows:


	Fiscal Year
	2021		2020		2019
Specialty Brands	$	0.1	$	0.1	$	(13.7)
Specialty Generics	4.9		0.1		10.0
Corporate	24.0		49.6		2.0
Restructuring and related charges, net	29.0		49.8		(1.7)
Less: accelerated depreciation	(2.1)		(12.3)		—
Restructuring charges, net	$	26.9	$	37.5	$	(1.7)

Schedule of Net Restructuring and Related Charges

Net restructuring and related charges by program from continuing operations were comprised of the following:


	Fiscal Year
	2021		2020		2019
2018 Program	$	29.0	$	52.0	$	9.8
2016 Program	—		(0.3)		(10.6)
Acquisition programs	—		(1.9)		(0.9)
Total programs	29.0		49.8		(1.7)
Less: non-cash charges, including accelerated depreciation	(6.3)		(23.8)		—
Total charges expected to be settled in cash	$	22.7	$	26.0	$	(1.7)

Schedule of Restructuring Reserves by Type of Cost


	2018 Program		2016 Program		Acquisition Programs		Total
Balance as of December 28, 2018	$	2.2	$	61.0	$	7.8	$	71.0
Charges from continuing operations	11.2		4.0		0.1		15.3
Changes in estimate from continuing operations	(1.4)		(14.6)		(1.0)		(17.0)
Cash payments	(9.3)		(13.1)		(2.4)		(24.8)
Reclassifications (1)	—		(5.0)		(4.3)		(9.3)
Currency translation and other	—		(1.0)		—		(1.0)
Balance as of December 27, 2019	2.7		31.3		0.2		34.2
Charges from continuing operations	28.6		0.1		—		28.7
Changes in estimate from continuing operations	(0.4)		(0.4)		(1.9)		(2.7)
Cash payments	(20.1)		(30.7)		(0.2)		(51.0)
Reclassifications (2)	(10.0)		—		—		(10.0)
Currency translation and other	0.2		(0.3)		1.9		1.8
Balance as of December 25, 2020	1.0		—		—		1.0
Charges from continuing operations	23.7		—		—		23.7
Changes in estimate from continuing operations	(1.0)		—		—		(1.0)
Cash payments	(12.8)		—		—		(12.8)


Balance as of December 31, 2021	$	10.9	$	—	$	—	$	10.9

(2)Represents the reclassification of certain restructuring reserve balances to LSTC as a result of the Company rejecting certain of its executory contracts.

Schedule of Restructuring Charges Incurred Cumulative to Date

As of December 31, 2021, net restructuring and related charges incurred cumulative to date were as follows:


	2018 Program (1)		2016 Program (2)
Specialty Brands	$	3.1	$	68.1
Specialty Generics	15.0		14.6

Corporate	77.9		28.6
	$	96.0	$	111.3

(1)There is no specified time period associated with this restructuring program.

(2)The 2016 Program was completed in fiscal 2020.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income from Continuing Operations before Income Taxes

The domestic and international components(1) of loss from continuing operations before income taxes were as follows:


	Fiscal Year
	2021		2020		2019
Domestic	$	(512.2)	$	(656.9)	$	(75.3)
International	(317.6)		(303.9)		(1,516.2)
Total	$	(829.8)	$	(960.8)	$	(1,591.5)

(1) Domestic reflects Ireland in fiscal 2021 and 2020, and U.K. in fiscal 2019.

Schedule of Significant Components of Income Taxes Related to Continuing Operations

Significant components(1) of income taxes related to continuing operations are as follows:


	Fiscal Year
	2021		2020		2019
Current:
Domestic	$	(33.7)	$	0.1	$	0.1
International	(12.7)		(375.4)		21.7
Current income tax (benefit) provision	(46.4)		(375.3)		21.8
Deferred:
Domestic	(59.5)		102.2		(1.1)
International	(0.4)		282.0		(605.0)
Deferred income tax (benefit) provision	(59.9)		384.2		(606.1)
Total	$	(106.3)	$	8.9	$	(584.3)

(1) Domestic reflects Ireland in fiscal 2021 and 2020, and the U.K. in fiscal 2019.

Schedule of Reconciliation of Income Taxes at Statutory Rate and Tax Provision

The reconciliation between domestic income taxes at the statutory rate and the Company's provision for income taxes on continuing operations is as follows:


	Fiscal Year
	2021		2020		2019
Benefit for income taxes at domestic statutory income tax rate (1)	$	(103.7)	$	(120.1)	$	(302.4)
Adjustments to reconcile to income tax provision:
Rate difference between domestic and international jurisdictions (2)	(224.9)		(315.3)		(206.3)
Adjustments to accrued income tax liabilities and uncertain tax positions (3)	(9.7)		16.7		(18.7)


Credits, principally research and orphan drug	(4.7)		(11.2)		(13.5)

Permanently nondeductible and nontaxable items (4)	9.8		2.8		98.1

Divestitures (5)	—		—		9.6
U.S. Tax Reform (6)	—		(281.5)		—
Legal entity reorganization (6)	—		82.0		(212.8)
Separation costs	—		8.4		—
Reorganization items, net	36.9		8.8		—
Other	0.3		0.1		—
Valuation allowances (4)	189.7		618.2		61.7
(Benefit) provision for income taxes	$	(106.3)	$	8.9	$	(584.3)

(1)The statutory tax rate reflects the Irish statutory tax rate of 12.5% for fiscal 2021 and 2020, and the U.K. statutory tax rate of 19.0% for fiscal 2019.

(2)For fiscal 2019, includes the impact of certain recurring valuation allowances for domestic and international jurisdictions.

(3)Includes interest and penalties on accrued income tax liabilities and uncertain tax positions.

(5)The Company completed the sale of its wholly-owned subsidiary BioVectra in November 2019.

(6)Associated unrecognized tax benefit and valuation allowance are netted within this line.

Schedule of Unrecognized Tax Benefit Activity

The following table summarizes the activity related to the Company's unrecognized tax benefits, excluding interest:


	Fiscal Year
	2021		2020		2019
Balance at beginning of period	$	349.0	$	398.6	$	287.7
Additions related to current year tax positions	—		71.1		123.5
Additions related to prior period tax positions	9.3		9.8		19.2
Reductions related to prior period tax positions	(2.8)		(14.2)		(5.7)

Settlements	(0.2)		(80.3)		(1.0)
Lapse of statutes of limitations	(21.8)		(36.0)		(25.1)
Balance at end of period	$	333.5	$	349.0	$	398.6

Schedule of Unrecongized Tax Benefits Balance Sheet Location

Unrecognized tax benefits, excluding interest, were reported in the following consolidated balance sheet captions in the amounts shown:


	December 31, 2021		December 25, 2020
Other assets (1)	$	255.7	$	256.4

Other income tax liabilities	64.1		83.2
Deferred income taxes	13.7		9.4
	$	333.5	$	349.0

Schedule of Income Taxes Payable

Income taxes payable, including uncertain tax positions and related interest accruals, was reported in the following consolidated balance sheet captions in the amounts shown:


	December 31, 2021		December 25, 2020
Accrued and other current liabilities	$	1.7	$	26.5
Other income tax liabilities	83.2		100.1
	$	84.9	$	126.6

Schedule of Income Tax Receivables and Other Assets

Tax receivables were included in the following consolidated balance sheet captions in the amounts shown:


	December 31, 2021		December 25, 2020
Other assets	$	141.3	$	139.4
Prepaid expenses and other current assets	36.5		188.7
	$	177.8	$	328.1

Schedule of Deferred Taxes Activity

The components of the net deferred tax asset (liability) at the end of each fiscal year were as follows:


	December 31, 2021		December 25, 2020
Deferred tax assets:


Tax loss and credit carryforward	$	4,147.5	$	4,026.0
Capital tax loss carryforward and related assets	1,605.0		1,600.1

Opioid-related litigation settlement liability	294.7		269.3
Excess interest	159.5		150.7
Other	292.2		294.9
	6,498.9		6,341.0
Deferred tax liabilities:

Intangible assets	(108.5)		(191.2)

Investment in partnership	(67.1)		(74.8)
Other	—		(44.8)
	(175.6)		(310.8)
Net deferred tax asset before valuation allowances	6,323.3		6,030.2
Valuation allowances	(6,344.2)		(6,110.8)
Net deferred tax liability	$	(20.9)	$	(80.6)

Earnings (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings (Loss) per Share [Abstract]

Schedule of Earnings (Loss) per Share

The weighted-average number of shares outstanding used in the computations of both basic and diluted loss per share were as follows (in millions):


	Fiscal Year
	2021	2020	2019
Basic	84.7	84.5	83.9

Inventories (Tables)

12 Months Ended

Dec. 31, 2021

Inventory, Net [Abstract]

Schedule of Inventories

Inventories were comprised of the following at the end of each period:


	December 31, 2021		December 25, 2020
Raw materials	$	59.8	$	58.1
Work in process	196.4		200.7
Finished goods	91.0		86.1
Inventories	$	347.2	$	344.9

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Line Items]

Depreciation of Property, Plant and Equipment

Depreciation expense was as follows:


	Fiscal Year
	2021		2020		2019
Depreciation expense	$	94.7	$	114.0	$	97.7

Schedule of Property, Plant and Equipment

The gross carrying amount and accumulated depreciation of property, plant and equipment were comprised of the following at the end of each period:


	December 31, 2021		December 25, 2020
Land	$	43.5	$	43.6
Buildings	387.8		416.9
Capitalized software	121.1		134.0
Machinery and equipment	1,254.1		1,260.4
Construction in process	80.1		56.0
	1,886.6		1,910.9
Less: accumulated depreciation	(1,110.6)		(1,077.8)
Property, plant and equipment, net	$	776.0	$	833.1

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Lease Assets and Liabilities

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


	December 31, 2021		December 25, 2020
Other assets	$	35.0	$	58.6

Accrued and other current liabilities	$	11.1	13.0
Other liabilities	20.0		28.0
Other current and non-current liabilities subject to compromise	0.4		31.9
Total lease liabilities	$	31.5	$	72.9

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:


	Fiscal Year
	2021		2020		2019
Lease cost:
Operating lease cost	$	19.6	$	21.2	$	21.3
Short-term lease cost	1.1		1.1		3.5
Variable lease cost	2.4		3.1		—
Total lease cost	$	23.1	$	25.4	$	24.8

Lessee, Operating Lease, Liability, Maturity

Contractual maturities of operating lease liabilities as of December 31, 2021 were as follows:


Fiscal 2022	$	14.7
Fiscal 2023	11.0
Fiscal 2024	7.9
Fiscal 2025	4.5
Fiscal 2026	2.8
Thereafter	2.9
Total lease payments	43.8
Less: Interest	(12.3)
Present value of lease liabilities	31.5
Less: Amounts reclassified to liabilities subject to compromise	(0.4)
Present value of lease liabilities not subject to compromise	$	31.1

Lessee, Operating Lease, Lease Terms

Lease terms and discount rates were as follows:


	December 31, 2021		December 25, 2020
Weighted-average remaining lease term (in years) - operating lease	5.7		6.1
Weighted-average discount rate - operating leases	4.4	%	3.9	%

Lessee, Operating Lease, Cash Flow Information

Other supplemental cash flow information related to leases were as follows:


	Fiscal Year
	2021		2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	20.4	$	23.1	$	23.2
Lease assets obtained in exchange for lease obligations:
Operating leases	2.6		6.9		7.3

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

The gross carrying amount and accumulated amortization of intangible assets were comprised of the following at the end of each period:


	December 31, 2021				December 25, 2020
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable:
Completed technology	$	10,404.0	$	5,160.4	$	10,394.6	$	4,586.6
License agreements	120.1		82.1		120.1		78.1
Trademarks	77.7		26.9		77.7		23.5


Total	$	10,601.8	$	5,269.4	$	10,592.4	$	4,688.2
Non-Amortizable:
Trademarks	$	35.0			$	35.0
In-process research and development	81.0				245.3
Total	$	116.0			$	280.3

Finite-lived Intangible Assets Amortization Expense

Intangible asset amortization expense was as follows:


	Fiscal Year
	2021		2020		2019
Amortization expense	$	581.1	$	771.2	$	853.4

Schedule of Future Amortization Expense, Intangible Assets

The estimated aggregate amortization expense on intangible assets owned by the Company and being amortized as of December 31, 2021, is expected to be as follows:


Fiscal 2022	$	605.3
Fiscal 2023	585.1
Fiscal 2024	564.8
Fiscal 2025	543.1
Fiscal 2026	517.2

Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Debt was comprised of the following at the end of each period:


	December 31, 2021				December 25, 2020
	Principal		Unamortized Discount and Debt Issuance Costs (1)		Principal		Unamortized Discount and Debt Issuance Costs
Secured debt:
Term loan due September 2024	$	1,396.5	$	—	$	1,505.2	$	12.3
Term loan due February 2025	370.7		—		399.5		5.0
10.00% first lien senior notes due April 2025	495.0		5.9		495.0		7.7
10.00% second lien senior notes due April 2025	322.9		—		322.9		8.0
Revolving credit facility	900.0		0.2		900.0		1.7
Total secured debt	3,485.1		6.1		3,622.6		34.7
Unsecured debt:
9.50% debentures due May 2022	10.4		—		10.4		—
5.75% senior notes due August 2022	610.3		—		610.3		—
8.00% debentures due March 2023	4.4		—		4.4		—
4.75% senior notes due April 2023	133.7		—		133.7		—
5.625% senior notes due October 2023	514.7		—		514.7		—
5.50% senior notes due April 2025	387.2		—		387.2		—
Total unsecured debt:	1,660.7		—		1,660.7		—
Total debt, prior to reclassification to liabilities subject to compromise	5,145.8		6.1		5,283.3		34.7
Less: Current portion	(1,395.0)		(6.1)		(3,622.6)		(34.7)
Less: Amounts reclassified to liabilities subject to compromise (2)	(3,750.8)		—		(1,660.7)		—
Total long-term debt, net of current portion	$	—	$	—	$	—	$	—

Debt Instrument [Line Items]

Schedule of Long-term Debt Instruments

As of December 31, 2021, the applicable interest rate and outstanding borrowings on the Company's variable-rate debt instruments were as follows:


	Applicable interest rate (1)		Outstanding borrowings
Term loan due September 2024	6.00	%	$	1,396.5
Term loan due February 2025	6.25		370.7
Revolving credit facility	4.42		900.0

Schedule of Maturities of Long-term Debt

The Company's stated long-term debt principal maturity amounts as of December 31, 2021 are as follows:


Fiscal 2022	$	1,539.2
Fiscal 2023	671.3
Fiscal 2024	1,371.1
Fiscal 2025	1,564.2

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Subparagraph (SX 210.12-04(a))
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

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+ Details

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit Cost

The net periodic benefit cost (credit) for the Company's pension and postretirement benefit plans was as follows:


	Pension Benefits						Postretirement Benefits
	Fiscal Year						Fiscal Year
	2021		2020		2019		2021		2020		2019
Service cost	$	0.2	$	0.2	$	0.1	$	—	$	—	$	—
Interest cost	0.3		0.5		0.7		0.7		1.2		1.6

Amortization of net actuarial loss	0.9		0.7		0.5		0.2		—		—
Amortization of prior service cost (credit)	0.1		0.1		0.2		(2.1)		(2.1)		(2.1)


Net periodic benefit cost (credit)	$	1.5	$	1.5	$	1.5	$	(1.2)	$	(0.9)	$	(0.5)

Schedule of Changes in Benefit Obligations, Plan Assets, and Funded Status of Plans


	Pension Benefits				Postretirement Benefits
	December 31, 2021		December 25, 2020		December 31, 2021		December 25, 2020
Change in benefit obligations:
Projected benefit obligations at beginning of year	$	29.4	$	27.0	$	40.1	$	40.5
Service cost	0.2		0.2		—		—
Interest cost	0.3		0.5		0.7		1.2
Actuarial (gain) loss	(0.9)		1.8		(1.7)		1.2
Benefits and administrative expenses paid	(0.7)		(1.5)		(1.8)		(2.8)
Plan settlements	—		(0.1)		—		—


Currency translation	(1.0)		1.5		—		—
Projected benefit obligations at end of year	$	27.3	$	29.4	$	37.3	$	40.1

Schedule of Amounts Recognized in Balance Sheet


	Pension Benefits				Postretirement Benefits
	December 31, 2021		December 25, 2020		December 31, 2021		December 25, 2020
Amounts recognized on the consolidated balance sheet:

Current liabilities	$	0.8	$	0.8	$	1.7	$	1.9
Non-current liabilities	16.7		18.9		13.4		15.5
Liabilities subject to compromise	9.8		9.7		22.2		22.7
Net amount recognized on the consolidated balance sheet	$	27.3	$	29.4	$	37.3	$	40.1

Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	$	(9.7)	$	(11.8)	$	(0.1)	$	(2.0)
Prior service (cost) credit	—		(0.1)		1.7		3.8
Net amount recognized in accumulated other comprehensive loss	$	(9.7)	$	(11.9)	$	1.6	$	1.8

Schedule of Amounts to be Amortized from Accumulated Other Comprehensive Income

The estimated amounts that will be amortized from accumulated other comprehensive loss into net periodic benefit cost (credit) in fiscal 2022 are as follows:


	Pension Benefits		Postretirement Benefits
Amortization of net actuarial loss (gain)	$	0.6	$	(0.1)
Amortization of prior service credit	—		(1.7)

Schedule of Actuarial Assumptions

Weighted-average assumptions used each period to determine net periodic benefit cost for the Company's pension plans were as follows:


	U.S. Plans						Non-U.S. Plans
	Fiscal Year						Fiscal Year
	2021		2020		2019		2021		2020		2019
Discount rate	1.8	%	2.8	%	4.0	%	1.0	%	1.3	%	2.0	%

Rate of compensation increase	—		—		—		2.5		2.5		2.5

Weighted-average assumptions used each period to determine benefit obligations for the Company's pension plans were as follows:


	U.S. Plans						Non-U.S. Plans
	Fiscal Year						Fiscal Year
	2021		2020		2019		2021		2020		2019
Discount rate	2.3	%	1.8	%	2.8	%	1.3	%	1.0	%	1.3	%
Rate of compensation increase	—		—		—		2.5		2.5		2.5

The weighted-average discount rate used to determine net periodic benefit credit and obligations for the Company's postretirement benefit plans were as follows:


	Fiscal Year
	2021		2020		2019
Net periodic benefit credit	2.0	%	3.0	%	4.1	%
Benefit obligations	2.5		2.0		3.0

Schedule of Healthcare Cost Trend Rates

Healthcare cost trend assumptions for postretirement benefit plans were as follows:


	December 31, 2021		December 25, 2020
Healthcare cost trend rate assumed for next fiscal year	5.7	%	5.8	%
Rate to which the cost trend rate is assumed to decline	4.5		4.5
Fiscal year the ultimate trend rate is achieved	2038		2038

Schedule of Expected Benefit Payments

Benefit payments expected to be paid, reflecting future expected service as appropriate, were as follows:


	Pension Benefits		Postretirement Benefits
Fiscal 2022	$	2.9	$	4.7
Fiscal 2023	1.7		3.0
Fiscal 2024	1.7		2.9
Fiscal 2025	1.6		2.8
Fiscal 2026	1.5		2.7
Fiscal 2027 - 2031	6.9		11.7

Share Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Maximum Number of Common Shares to be Issued as Awards

The maximum number of common shares to be issued as Awards, subject to adjustment as provided under the terms of the respective plans were as follows:


						Maximum Number of Common Shares to be Issued as Awards (in millions)
2013 Plan						5.7
2015 Plan						17.8
2018 Plan						26.8

Schedule of Share Option Activity

Share option activity and information was as follows:


	Share Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding as of December 28, 2018	7,007,051	$	38.74
Granted	1,378,175	22.09
Exercised	(45,324)	20.67
Expired/Forfeited	(1,449,202)	34.80
Outstanding as of December 27, 2019	6,890,700	36.39
Expired/Forfeited	(820,988)	39.65
Outstanding as of December 25, 2020	6,069,712	35.95


Expired/Forfeited	(516,193)	45.63
Outstanding as of December 31, 2021	5,553,519	35.05		1.7	$	—

Vested and non-vested expected to vest as of December 31, 2021	5,352,763	35.14		5.5	$	—
Exercisable as of December 31, 2021	4,616,911	38.56		2.0	—

Schedule of the Valuation Assumptions Used in the Conversion

The weighted-average assumptions used in the Black-Scholes pricing model for shares granted in fiscal 2019, along with the weighted-average grant-date fair value, were as follows:




Expected share price volatility	45.8		%
Risk-free interest rate	2.2		%
Expected annual dividend per share	—		%
Expected life of options (in years)	5.3
Fair value per option	$	9.66

Schedule of Restricted Share Unit Activity

RSU activity was as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Non-vested as of December 28, 2018	1,685,101	$	29.54
Granted	755,180	20.13
Exercised	(713,274)	35.29
Expired/Forfeited	(307,987)	24.81
Non-vested as of December 27, 2019	1,419,020	22.68

Exercised	(647,167)	24.23
Expired/Forfeited	(281,182)	22.11
Non-vested as of December 25, 2020	490,671	20.96

Exercised	(186,930)	23.43
Expired/Forfeited	(60,844)	19.58
Non-vested as of December 31, 2021	242,897	19.40

Share-based Compensation, Performance Shares Award Outstanding Activity

PSU activity was as follows (1):


	Shares	Weighted-Average Grant-Date Fair Value
Non-vested as of December 28, 2018	1,161,529	$	28.61
Granted	448,363	32.46
Forfeited	(414,387)	30.54

Non-vested as of December 27, 2019	1,195,505	23.85

Forfeited	(1,195,505)	23.85

Non-vested as of December 25, 2020	—	—

(1) The number of shares disclosed within this table are at the target number of 100.0%.

Schedule of Share-based Payment Award, Performance Share Awards, Valuation Assumptions

The assumptions used in the Monte Carlo model for PSUs granted during fiscal 2019 were as follows:




Expected stock price volatility	55.2	%
Peer group stock price volatility	41.3
Correlation of returns	47.8

Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

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:


	December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	38.7	$	24.9	$	13.8	$	—
Equity securities	36.5		36.5		—		—
	$	75.2	$	61.4	$	13.8	$	—
Liabilities:
Deferred compensation liabilities (1)	$	36.9	$	—	$	36.9	$	—
Contingent consideration liabilities (2)	27.3		—		—		27.3

	$	64.2	$	—	$	36.9	$	27.3


	December 25, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	33.0	$	23.5	$	9.5	$	—
Equity securities	31.1		31.1		—		—
	$	64.1	$	54.6	$	9.5	$	—
Liabilities:
Deferred compensation liabilities (1)	$	38.0	$	—	$	38.0	$	—
Contingent consideration liabilities (2)	34.7		—		—		34.7

	$	72.7	$	—	$	38.0	$	34.7

Schedule of Reconciliation of Changes in Fair Value of Contingent Consideration

The following table summarizes the fiscal 2021 activity for contingent consideration:


Balance as of December 25, 2020	$	34.7




Fair value adjustments	(7.4)
Less: Liabilities subject to compromise	(27.3)
Balance as of December 31, 2021	$	—

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:


	December 31, 2021				December 25, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
Level 1:
5.75% senior notes due August 2022	$	610.3	$	324.1	$	610.3	$	191.2
4.75% senior notes due April 2023	133.7		48.9		133.7		11.1
5.625% senior notes due October 2023	514.7		279.1		514.7		158.9
5.50% senior notes due April 2025	387.2		211.6		387.2		115.4
10.00% first lien senior notes due April 2025	495.0		523.7		495.0		528.4
10.00% second lien senior notes due April 2025	322.9		312.7		322.9		279.0
Revolving credit facility	900.0		900.0		900.0		900.0
Level 2:
9.50% debentures due May 2022	10.4		7.7		10.4		4.2
8.00% debentures due March 2023	4.4		3.2		4.4		1.3
Term loan due September 2024	1,396.5		1,309.2		1,505.2		1,386.9
Term loan due February 2025	370.7		347.7		399.5		367.9
Total Debt	$	5,145.8	$	4,267.9	$	5,283.3	$	3,944.3

Schedules of Concentration of Risk


	Fiscal Year
	2021		2020		2019
CuraScript, Inc.	26.1	%	27.4	%	29.7	%

AmerisourceBergen Corporation	*		*		10.2

* Net sales to this distributor 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:


	December 31, 2021	December 25, 2020
AmerisourceBergen Corporation	30.0%	33.6%
McKesson Corporation	15.0	18.2
CuraScript, Inc.	12.7	*

* Accounts receivable attributable to this distributor was less than 10.0% of total gross accounts receivable at the end of the respective period presented above.


	Fiscal Year
	2021		2020		2019
Acthar Gel	26.9	%	27.9	%	30.1	%
INOmax	20.3		20.9		18.1
Therakos	12.1		*		*
Ofirmev	*		10.1		12.1

Segment and Geographical Data (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Business Segment

Selected information by reportable segment was as follows:


	Fiscal Year
	2021		2020		2019
Net sales:
Specialty Brands (1)	$	1,547.0	$	2,059.6	$	2,423.8
Specialty Generics	661.8		689.8		738.7
Segment net sales	2,208.8		2,749.4		3,162.5
Medicaid lawsuit (Note 19) (1)	—		(536.0)		—
Net sales	$	2,208.8	$	2,213.4	$	3,162.5
Operating loss:
Specialty Brands	$	812.8	$	1,015.7	$	1,210.1
Specialty Generics	107.9		206.4		168.5
Segment operating income	920.7		1,222.1		1,378.6
Unallocated amounts:
Corporate and unallocated expenses (2)	(129.6)		(166.1)		(102.3)
Depreciation and amortization	(675.8)		(885.2)		(951.1)
Share-based compensation	(10.2)		(25.3)		(33.8)
Restructuring charges, net	(26.9)		(37.5)		1.7
Non-restructuring impairment charges	(154.9)		(63.5)		(388.0)
Separation costs (3)	(1.2)		(93.4)		(63.9)
R&D upfront payment (4)	—		(5.0)		(20.0)
Opioid-related litigation settlement gain (loss) (Note 19)	(125.0)		43.4		(1,643.4)
Medicaid lawsuit (Note 19) (1)	—		(641.1)		—
Operating loss	$	(202.9)	$	(651.6)	$	(1,822.2)

Depreciation and amortization:
Specialty Brands	$	597.7	$	799.3	$	862.4
Specialty Generics	78.1		85.9		88.7
	$	675.8	$	885.2	$	951.1

(2)Includes administration expenses and certain compensation, legal, environmental and other costs not charged to the Company's reportable segments.

Schedule of Net Sales from External Customers by Products

Net sales by product family within the Company's reportable segments were as follows:


	Fiscal Year
	2021		2020		2019
Acthar Gel (1)	$	593.6	$	767.9	$	952.7
INOmax	448.5		574.1		571.4
Ofirmev	28.9		276.5		384.0
Therakos	266.5		238.6		246.9
Amitiza (2)	196.9		188.8		208.5
Other (3)	12.6		13.7		60.3
Specialty Brands	1,547.0		2,059.6		2,423.8

Hydrocodone (API) and hydrocodone-containing tablets	82.7		98.0		76.3
Oxycodone (API) and oxycodone-containing tablets	68.5		68.4		74.9
Acetaminophen (API)	215.9		213.0		189.9
Other controlled substances	272.7		289.9		352.5
Other	22.0		20.5		45.1
Specialty Generics	661.8		689.8		738.7
Segment net sales	2,208.8		2,749.4		3,162.5
Medicaid lawsuit (Note 19)	—		(536.0)		—
Net Sales	$	2,208.8	$	2,213.4	$	3,162.5

(2)Amitiza net sales consist of both product and royalty net sales. Refer to Note 4 for further details on Amitiza's revenues.

(3)Fiscal 2019 includes $40.1 million of net sales related to BioVectra prior to the completion of the sale of this business in November 2019. Refer to Note 5 for further details.

Schedule of Net Sales and Long-Lived Assets by Geographical Area

Selected information by geographic area was as follows:


	Fiscal Year
	2021		2020		2019
Net sales (1):
U.S.	$	1,991.8	$	2,465.5	$	2,765.6
Europe, Middle East and Africa	181.8		227.5		281.8
Other	35.2		56.4		115.1
Geographic area net sales	2,208.8		2,749.4		3,162.5
Medicaid lawsuit (Note 19)	—		(536.0)		—
Net Sales	$	2,208.8	$	2,213.4	$	3,162.5

	December 31, 2021		December 25, 2020
Long-lived assets (2):
U.S.	$	629.3	$	676.3
Europe, Middle East and Africa (3)	156.2		165.5
Other	4.7		4.6
	$	790.2	$	846.4

(1)Net sales are attributed to regions based on the location of the entity that records the transaction, none of which relate to the country of Ireland.

(2)Long-lived assets are primarily composed of property, plant and equipment, net.

(3)Includes long-lived assets located in Ireland of $154.5 million and $164.0 million as of December 31, 2021 and December 25, 2020, respectively.

^[1],[2],[3]

[1]	Includes long-lived assets located in Ireland of $154.5 million and $164.0 million as of December 31, 2021 and December 25, 2020, respectively.
[2]	Long-lived assets are primarily composed of property, plant and equipment, net.
[3]	Net sales are attributed to regions based on the location of the entity that records the transaction, none of which relate to the country of Ireland.

Bankruptcy (Details) $ in Millions						2 Months Ended	12 Months Ended
Bankruptcy (Details) $ in Millions	Sep. 02, 2021 USD ($)	Mar. 19, 2021 USD ($)	Mar. 10, 2021	Oct. 12, 2020	Oct. 11, 2020 USD ($)	Dec. 25, 2020 USD ($) numberOfPlaintiffs	Dec. 31, 2021 USD ($) action	Dec. 25, 2020 USD ($)	Dec. 27, 2019 USD ($)	Mar. 11, 2021 USD ($)	Nov. 05, 2019	Aug. 31, 2014 USD ($)	Apr. 30, 2013 USD ($)
Reorganizations [Line Items]
Restructuring Support Agreement, MSGE Support Group \| numberOfPlaintiffs						1,300
Restructuring Support Agreement, Common Stock Share Percentage Reorganized New Company					100.00%
Restruring Support Agreement, Proposed Settlement of General Unsecured Claims	$ 135.0
Non-Debtor Intercompany Receivables						$ 282.3	$ 119.1	$ 282.3
Non-Debtor Intercompany Payables						120.3	112.9	120.3
Cash paid for interest							243.2	256.1	$ 314.2
Accrued interest						26.9	$ 17.0	26.9
Bankruptcy Claims, Number Claims Filed \| action							50,000
Debentures \| Restructuring Support Agreement [Member]
Reorganizations [Line Items]
Holders of Principal Debt, Percentage					84.00%
Secured Debt
Reorganizations [Line Items]
Restructuring Support Agreement, Proposed Long-Term Debt					$ 375.0
Restructuring Support Agreement, Proposed Debt, Term					7 years
Interest Protection Payment, Expense							$ 63.1	11.7
Debt Instrument, Interest Rate, Increase (Decrease)				200.00%
Interest Protection Payment, Paid							$ 66.7	7.8
5.75% senior notes due August 2022 \| Senior Notes
Reorganizations [Line Items]
Stated interest rate							5.75%					5.75%
Debt instrument, face amount												$ 900.0
5.75% senior notes due August 2022 \| Senior Notes \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate							5.75%
Five Point Six Two Five Percent Note \| Debentures
Reorganizations [Line Items]
Stated interest rate							5.625%
Five Point Six Two Five Percent Note \| Debentures \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate							5.625%
Five Point Five Percent Notes [Member] \| Senior Notes
Reorganizations [Line Items]
Stated interest rate							5.50%
Five Point Five Percent Notes [Member] \| Debentures \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate							5.50%
9.50% debentures due May 2022 \| Debentures
Reorganizations [Line Items]
Stated interest rate							9.50%
8.00% debentures due March 2023 \| Debentures
Reorganizations [Line Items]
Stated interest rate							8.00%
4.75% senior notes due April 2023 \| Senior Notes
Reorganizations [Line Items]
Stated interest rate							4.75%						4.75%
Debt instrument, face amount													$ 600.0
4.75% senior notes due April 2023 \| Senior Notes \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate							4.75%
Debentures
Reorganizations [Line Items]
Accrued interest						$ 28.8	$ 93.0	$ 28.8
Ten Point Zero Percent Second Lien Notes [Member] \| Senior Notes
Reorganizations [Line Items]
Stated interest rate							10.00%
Ten Point Zero Percent Second Lien Notes [Member] \| Senior Notes \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate							10.00%
Ten Point Zero Percent Second Lien Notes [Member] \| Secured Debt
Reorganizations [Line Items]
Stated interest rate											10.00%
Term Loans due Sept 2024 and Feb 2025 [Member]
Reorganizations [Line Items]
Repayments of Long-term Debt		$ 114.0
Proposed Debt Instrument Term			5 years 9 months
Term Loans due Sept 2024 and Feb 2025 [Member] \| Restructuring Support Agreement [Member]
Reorganizations [Line Items]
Ad Hoc Lender Aggregate Principal Amount										$ 1,300.0
Term Loan and New Term Loan \| Secured Debt
Reorganizations [Line Items]
Proposed Debt Instrument Basis Spread On Variable Rate			5.25%
Term Loan due 2025 [Member] \| Secured Debt
Reorganizations [Line Items]
Proposed Debt Instrument Basis Spread On Variable Rate			5.50%
Maximum
Reorganizations [Line Items]
Remedial cost, estimate							$ 120.9
Opioid Claimant Trust [Member]
Reorganizations [Line Items]
Restructuring Support Agreement ProposedSettlement, Payment Year One and Two					$ 200.0
Restructuring Support Agreement Proposed Settlement, Upfront Payment					450.0
Restructuring Support Agreement, Equity Value of Reorganized Debtors					1,551.0
PlanofReorganizationProposedPlanSettlement					1,725.0
Litigation Settlement, Amount Awarded to Other Party, Post Closing Settlement Amount, Year Three through Seven					150.0
Restructuring Support Agreement Proposed Settlement, Year Eight	125.0
Opioid Claimant Trust [Member] \| Restructuring Support Agreement [Member]
Reorganizations [Line Items]
Litigation Settlement, Amount Awarded to Other Party, Post Closing Settlement Amount, Year Three through Seven					$ 150.0
Restructuring Support Agreement Proposed Settlement, Year Eight	$ 125.0
Opioid Claimant Trust [Member] \| Ownership Interest [Member]
Reorganizations [Line Items]
Restructuring Support Agreement, Warrants Common Stock Share Percentage					19.99%
Medicaid Lawsuit [Member]
Reorganizations [Line Items]
PlanofReorganizationProposedPlanSettlement					$ 260.0
Restructuring Support Agreement, Proposed Debt, Term					7 years
Medicaid Lawsuit [Member] \| Maximum
Reorganizations [Line Items]
Remedial cost, estimate					$ 640.0

Liabilities Subject to Compromise (Details) - USD ($)
$ in Millions

12 Months Ended

Sep. 02, 2021

Dec. 31, 2021

Dec. 25, 2020

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

$ 6,397.7

$ 4,192.6

Secured Debt

3,485.1

3,622.6

Opioid Claimant Trust [Member]

Liabilities Subject to Compromise [Line Items]

Restructuring Support Agreement Proposed Settlement, Year Eight

$ 125.0

Lease rejection

Liabilities Subject to Compromise [Line Items]

Increase (Decrease) Other current and non-current liabilities

34.8

Contingent Consideration

Liabilities Subject to Compromise [Line Items]

Increase (Decrease) Other current and non-current liabilities

15.6

Royalty Accruals

Liabilities Subject to Compromise [Line Items]

Increase (Decrease) Other current and non-current liabilities

17.3

Ten Point Zero Percent Second Lien Notes [Member]

Liabilities Subject to Compromise [Line Items]

Secured Debt

322.9

Interest Payable, Current

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

35.2

Accounts Payable

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

^[1]

42.9

61.9

Long-term Debt [Member]

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

^[2],[3]

3,750.8

1,660.7

Long-term Debt [Member] | Term Loans due Sept 2024 and Feb 2025 [Member]

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

1,767.2

Medicaid Lawsuit [Member]

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

634.7

638.9

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

^[4]

1,725.0

1,600.0

Other Liabilities

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

^[5]

125.1

163.5

Liability, Defined Benefit Plan, Noncurrent

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

32.0

32.4

Accrued Environmental Loss Contingencies

Liabilities Subject to Compromise [Line Items]

Liabilities subject to compromise (Note 2)

^[6]

$ 52.0

$ 0.0

[1]	Pre-petition accounts payable balances have been repaid under effectuated trade agreements pursuant to the critical vendor motion approved by the Bankruptcy Court.
[2]	In connection with the Company's Chapter 11 Cases, $3,750.8 million and $1,660.7 million of outstanding debt instruments have been classified as LSTC in the Company's consolidated balance sheets as of December 31, 2021 and December 25, 2020, respectively. Up to the Petition Date, the Company continued to accrue interest expense in relation to the unsecured debt instruments classified as LSTC. The Company continues to accrue and pay interest on the outstanding secured debt instruments classified as LSTC in conjunction with the cash collateral order. Refer to Note 2 for further information.
[3]	Subsequent to December 25, 2020, in accordance with the agreement in principle reached with the Settling Second Lien Noteholders on September 2, 2021 and Joinder and Amendment to the RSA entered into in March 2021, $322.9 million of Second Lien Notes and $1,767.2 million of outstanding senior secured term loans, respectively, were classified as LSTC in the Company's consolidated balance sheet as of December 31, 2021.
[4]	In accordance with the agreement in principle reached with the Opioid Claimants on September 2, 2021, and subsequently memorialized in the Amended Plan on September 29, 2021, the Company recorded an accrual of $125.0 million related to the additional payment expected to be made on the eighth anniversary of the effective date of emergence, which has been classified as LSTC in the Company's consolidated balance sheet as of December 31, 2021.
[5]	The decrease in other current and non-current liabilities was attributable to (1) the Bankruptcy Court's approval of the Company's rejection of its Bedminster facility lease, which resulted in a $34.8 million adjustment to the carrying value of the respective lease liability in LSTC to reflect the estimated allowed claim amount and (2) a decrease of $15.6 million in the fair value of contingent consideration related to MNK-6105 and MNK-6106 . These decreases were partially offset by an increase of $17.3 million related to Acthar Gel royalty accruals as a result of the December 2021 Bankruptcy Court ruling, which found that the Acthar Insurance Claimants' (as defined in Note 19) administrative claims were without merit. The remaining change in other current and non-current liabilities was attributable to various increases and decreases as a result of adjustments in the ordinary course of business.
[6]	Represents certain environmental liabilities intended to be discharged upon effectiveness of the plan of reorganization.

Reorganization Items, Net (Details) - USD ($) $ in Millions	12 Months Ended
Reorganization Items, Net (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Reorganization Items, Net [Line Items]
Debtor Reorganization Items, Legal and Advisory Professional Fees	$ 405.6	$ 51.1
Debtor Reorganization Items, Write-off of Debt Issuance Costs and Debt Discounts	23.1	10.2
Debtor Reorganization Items, Other Expense (Income)	(0.5)	0.1
Reorganization items, net	(428.2)	61.4	$ 0.0
Cash Paid, Reorganization items	$ 333.1	$ 8.7

Schedule of Interest Expense Incurred and Paid (Details) - Secured Debt - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020
Schedule of Interest Expense Incurred and Paid [Line Items]
Interest Protection Payment, Expense	$ 63.1	$ 11.7
Interest Protection Payment, Paid	$ 66.7	$ 7.8

Non-debtor Entity Intercompany Balances (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020
Non-debtor Entity Intercompany Balances [Line Items]
Non-Debtor Intercompany Receivables	$ 119.1	$ 282.3
Non-Debtor Intercompany Payables	$ 112.9	$ 120.3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Minimum \| Completed Technology
Schedule of Significant Accounting Policies [Line Items]
Finite-lived intangible assets - useful lives	9 years
Minimum \| Trademarks
Schedule of Significant Accounting Policies [Line Items]
Finite-lived intangible assets - useful lives	22 years
Minimum \| Buildings
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	10 years
Minimum \| Leasehold improvements
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	1 year
Minimum \| Capitalized software
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	1 year
Minimum \| Machinery and equipment
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	1 year
Maximum \| Completed Technology
Schedule of Significant Accounting Policies [Line Items]
Finite-lived intangible assets - useful lives	25 years
Maximum \| Licensing Agreements
Schedule of Significant Accounting Policies [Line Items]
Finite-lived intangible assets - useful lives	30 years
Maximum \| Trademarks
Schedule of Significant Accounting Policies [Line Items]
Finite-lived intangible assets - useful lives	30 years
Maximum \| Buildings
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	45 years
Maximum \| Leasehold improvements
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	20 years
Maximum \| Capitalized software
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	10 years
Maximum \| Machinery and equipment
Schedule of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	20 years
Shipping Costs
Schedule of Significant Accounting Policies [Line Items]
Shipping costs	$ 23.6	$ 20.1	$ 17.6

Revenue from Contracts with Customers (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Dec. 28, 2018

Disaggregation of Revenue [Line Items]

Revenue Reserves

$ 272.8

$ 235.4

$ 337.4

$ 405.4

Revenue Reserve Provision

2,166.0

2,154.3

2,437.7

Capitalized Contract Cost, Gross

25.8

Revenue Reserve Payments or Credits

(2,128.6)

(2,792.3)

(2,505.7)

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

2,208.8

2,213.4

3,162.5

Capitalized Contract Cost, Amortization

6.1

5.5

Medicaid lawsuit charge

(641.1)

Sales [Member]

Disaggregation of Revenue [Line Items]

Medicaid lawsuit charge

^[1]

0.0

536.0

^[2]

0.0

Operating Expense [Member]

Disaggregation of Revenue [Line Items]

Medicaid lawsuit charge

$ 0.0

$ (105.1)

$ 0.0

Transferred over Time [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Transferred over Time

20.60%

21.10%

18.20%

Transferred at Point in Time [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Transferred at Point in Time

79.40%

78.90%

81.80%

Royalty [Member]

Disaggregation of Revenue [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

$ 102.4

$ 70.3

$ 81.3

Sales Returns and Allowances

Disaggregation of Revenue [Line Items]

Revenue Reserves

21.5

26.6

28.4

34.0

Revenue Reserve Provision

23.7

28.9

22.2

Revenue Reserve Payments or Credits

(28.8)

(30.7)

(27.8)

Medicaid lawsuit charge

0.0

Rebates and Chargebacks [Member]

Disaggregation of Revenue [Line Items]

Revenue Reserves

241.8

196.5

295.8

354.3

Revenue Reserve Provision

2,087.1

2,065.9

2,347.3

Revenue Reserve Payments or Credits

(2,041.8)

(2,701.2)

(2,405.8)

Rebates and Chargebacks [Member] | Sales [Member]

Disaggregation of Revenue [Line Items]

Medicaid lawsuit charge

^[2]

(536.0)

Other Sales Deductions [Member]

Disaggregation of Revenue [Line Items]

Revenue Reserves

9.5

12.3

13.2

$ 17.1

Revenue Reserve Provision

55.2

59.5

68.2

Revenue Reserve Payments or Credits

$ (58.0)

(60.4)

$ (72.1)

Medicaid lawsuit charge

$ 0.0

[1]	Specialty Brands net sales for fiscal 2020 includes the prospective change to the Medicaid rebate calculation, which served to reduce Acthar Gel net sales by $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.
[2]	Excludes the $105.1 million that is reflected as a component of operating expenses as it represents a pre-acquisition contingency related to the portion of the liability that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor in August 2014. See Note 19 for further detail on the status of the Medicaid lawsuit.

Revenue from Contracts with Customers Future Performance Obligations (Details) $ in Millions	Dec. 31, 2021 USD ($)
Year One [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 112.1
Year Two [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	69.7
Thereafter [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 14.7

Discontinued Operations (Details) - USD ($) $ in Millions	12 Months Ended
Discontinued Operations (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	Nov. 04, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Tax Effect of Discontinued Operation	$ (5.0)	$ (16.2)	$ 1.7
Losses (gains) on divestiture	0.8	(16.6)	33.5
Equity Certificates Redeemed Amount		29.8
(Benefit) expense from income taxes	(106.3)	8.9	(584.3)
Nuclear Imaging
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax		9.0	9.0
Contingent consideration received, equity certificates		9.0	9.0
Discontinued Operation, Amount of Adjustment to Prior Period Gain (Loss) on Disposal, Net of Tax		$ 32.5
Interest Rate, Equity Certificates		10.00%
(Benefit) expense from income taxes	$ 5.1	$ 18.1
Interest and Other Income		2.7
BioVectra Inc [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Not Discontinued Operation, Consideration				$ 250.0
Disposal Group, Including Discontinued Operation, Upfront Consideration				135.0
Disposal Group, Not Discontinued Operation, Contingent Consideration				$ 115.0
Losses (gains) on divestiture			$ 33.5
Hemostasis Products
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Losses (gains) on divestiture		$ (16.5)

Acquisitions and License Agreements (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 27, 2019 USD ($)
Business Acquisition [Line Items]
Noninterest Income, Other Operating Income	$ 39.0
Silence Therapeutics [Member]
Business Acquisition [Line Items]
R&D upfront payment	$ 20.0

Restructuring and Related Charges (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	Dec. 01, 2021	Feb. 01, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ 26.9	$ 37.5	$ (1.7)
2018 Program \| Minimum
Restructuring Cost and Reserve [Line Items]
Mallinckrodt program expected cost range					$ 100.0
2018 Program \| Maximum
Restructuring Cost and Reserve [Line Items]
Mallinckrodt program expected cost range					$ 125.0
Restructuring Fiscal 2021 Plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Mallinckrodt program expected cost range				$ 50.0
Restructuring Fiscal 2021 Plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Mallinckrodt program expected cost range				$ 100.0

Restructuring and Related Charges (Schedule of Restructuring and Related Charges by Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	$ 29.0	$ 49.8	$ (1.7)
Less: accelerated depreciation	(2.1)	(12.3)	0.0
Restructuring charges, net	26.9	37.5	(1.7)
Specialty Brands [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	0.1	0.1	(13.7)
Specialty Generics [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	4.9	0.1	10.0
Corporate
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	$ 24.0	$ 49.6	$ 2.0

Restructuring and Related Charges (Schedule of Net Restructuring and Related Charges) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	$ 29.0	$ 49.8	$ (1.7)
Less: non-cash charges, including accelerated depreciation	(6.3)	(23.8)	0.0
Total charges expected to be settled in cash	22.7	26.0	(1.7)
Restructuring charges, net	26.9	37.5	(1.7)
2018 Program
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	29.0	52.0	(9.8)
2016 Program
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	0.0	(0.3)	10.6
Acquisition programs
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	$ 0.0	$ (1.9)	$ (0.9)

Restructuring and Related Charges (Schedule of Restructuring Reserves by Type of Cost) (Details) - Continuing Operations - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Restructuring Reserve [Roll Forward]

Beginning Balance

$ 1.0

$ 34.2

$ 71.0

Charges

23.7

28.7

15.3

Restructuring Reserve, Accrual Adjustment

(1.0)

(2.7)

(17.0)

Payments for Restructuring

(12.8)

(51.0)

(24.8)

Reclassifications

(10.0)

^[1]

(9.3)

^[2]

Restructuring Reserve, Translation and Other Adjustment

1.8

(1.0)

Ending Balance

10.9

1.0

34.2

Acquisition programs

Restructuring Reserve [Roll Forward]

Beginning Balance

0.0

0.2

7.8

Charges

0.0

0.1

Restructuring Reserve, Accrual Adjustment

0.0

(1.9)

(1.0)

Payments for Restructuring

0.0

(0.2)

(2.4)

Reclassifications

0.0

^[1]

(4.3)

^[2]

Restructuring Reserve, Translation and Other Adjustment

1.9

0.0

Ending Balance

0.0

0.2

2018 Program

Restructuring Reserve [Roll Forward]

Beginning Balance

1.0

2.7

2.2

Charges

23.7

28.6

11.2

Restructuring Reserve, Accrual Adjustment

(1.0)

(0.4)

(1.4)

Payments for Restructuring

(12.8)

(20.1)

(9.3)

Reclassifications

(10.0)

^[1]

0.0

^[2]

Restructuring Reserve, Translation and Other Adjustment

0.2

0.0

Ending Balance

10.9

1.0

2.7

2016 Program

Restructuring Reserve [Roll Forward]

Beginning Balance

0.0

31.3

61.0

Charges

0.0

0.1

4.0

Restructuring Reserve, Accrual Adjustment

0.0

(0.4)

(14.6)

Payments for Restructuring

0.0

(30.7)

(13.1)

Reclassifications

0.0

^[1]

(5.0)

^[2]

Restructuring Reserve, Translation and Other Adjustment

(0.3)

(1.0)

Ending Balance

$ 0.0

$ 31.3

[1]	Represents the reclassification of certain restructuring reserve balances to LSTC as a result of the Company rejecting certain of its executory contracts
[2]	Represents the reclassification of lease liabilities, net to lease liabilities and lease assets, which are reflected within other liabilities and other assets on the consolidated balance sheet, due to the adoption of Accounting Standard Update (ASU) 2016-02.

Restructuring and Related Charges (Schedule of Restructuring Charges Incurred Cumulative to Date) (Details)
$ in Millions

Dec. 31, 2021

USD ($)

2018 Program

Restructuring Cost and Reserve [Line Items]

Restructuring costs incurred cumulative to date

$ 96.0

^[1]

2018 Program | Specialty Brands [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring costs incurred cumulative to date

3.1

^[1]

2018 Program | Specialty Generics [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring costs incurred cumulative to date

15.0

^[1]

2018 Program | Corporate

Restructuring Cost and Reserve [Line Items]

Restructuring costs incurred cumulative to date

77.9

^[1]

2016 Program

Restructuring Cost and Reserve [Line Items]

Restructuring costs incurred cumulative to date

111.3

^[2]

2016 Program | Specialty Brands [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring costs incurred cumulative to date

68.1

^[2]

2016 Program | Specialty Generics [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring costs incurred cumulative to date

14.6

^[2]

2016 Program | Corporate

Restructuring Cost and Reserve [Line Items]

Restructuring costs incurred cumulative to date

$ 28.6

^[2]

[1]	There is no specified time period associated with this restructuring program.
[2]	The 2016 Program was completed in fiscal 2020

Income Taxes (Narrative) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Income Tax Contingency [Line Items]

Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount

^[1]

$ 224.9

$ 315.3

$ 206.3

Increase (Decrease) Tax Expense (Benefit), Change in Operating Income

92.9

30.0

Current Income Tax Expense (Benefit)

(46.4)

(375.3)

21.8

Increase (Decrease) Tax Benefit, Jurisdiction Rate Difference

(90.4)

(109.0)

Deferred income taxes

20.9

80.6

Income Taxes Paid, Net

160.0

(39.9)

(30.7)

Deferred Tax Liabilities, Intangible Assets

108.5

191.2

Deferred Tax Assets, Other

292.2

294.9

Tax loss and credit carryforward

4,147.5

4,026.0

Decrease in Unrecognized Tax Benefits is Reasonably Possible

139.2

Decrease in Interest and Penalties is Reasonably Possible

17.2

Unrecognized Tax Benefits, Interest on Income Taxes Accrued

18.9

16.7

32.9

Unrecognized Tax Benefits that Would Impact Effective Tax Rate

77.0

85.9

395.9

Unrecognized Tax Benefits, Interest on Income Taxes Expense

(6.4)

(16.2)

(4.2)

Unrecognized Tax Benefits, Interest on Income Taxes Release

4.2

Tax Credit Carryforward, Amount

83.9

Tax Credit Carryforwards, Not Subject to Expiration

2.3

Increase (Decrease), Tax Expense (Benefit), Gain on Debt Repurchases

79.0

Increase (Decrease) Tax Expense (Benefit) due to opioid-related settlement charge

10.6

60.9

Excess in Book over Tax Basis, Foreign Subsidiaries

12.1

Deferred Income Tax Expense (Benefit)

(59.9)

384.2

(606.1)

(Benefit) expense from income taxes

(106.3)

8.9

$ (584.3)

Deferred Tax Assets, Capital Loss Carryforwards

1,605.0

1,600.1

Increase (Decrease) Tax Benefit, Medicaid Lawsuit

48.9

Increase (Decrease) Tax Expense (Benefit) due to reorganization items, net

27.6

Valuation Allowance Tax Expense

189.7

618.2

Increase (Decrease) Valuation Allowance Tax Expense

428.5

Increase (Decrease) Valuation Allowance Tax Expense (Benefit), Operational Activity

288.9

Increase (Decrease) Valuation Allowance Tax Expense (Benefit), deferred tax assets

204.9

Increase (Decrease) Valuation Allowance Tax Expense (Benefit), tax rate changes

65.3

Increase (Decrease) Tax Expense (Benefit), Non-restructuring Impairment Charges

13.2

Deferred Tax Liabilities, Gross

$ (175.6)

$ (310.8)

UNITED KINGDOM

Income Tax Contingency [Line Items]

Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent

19.00%

IRELAND

Income Tax Contingency [Line Items]

Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent

12.50%

Nuclear Imaging

Income Tax Contingency [Line Items]

(Benefit) expense from income taxes

$ 5.1

$ 18.1

Non-U.K.

Income Tax Contingency [Line Items]

Operating Loss Carryforwards

1.2

33.4

$ 0.9

Deferred Tax Assets, Operating Loss Carryforwards

4,024.0

Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration

1,851.3

Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration

2,172.7

Deferred Tax Assets, Capital Loss Carryforwards

184.7

Ireland

Income Tax Contingency [Line Items]

Operating Loss Carryforwards

2.2

0.2

$ 1.2

Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration

39.5

Deferred Tax Assets, Capital Loss Carryforwards

969.5

Other Noncurrent Liabilities

Income Tax Contingency [Line Items]

Deferred Tax Liabilities, Gross

(20.9)

$ (80.6)

CARES Act

Income Tax Contingency [Line Items]

Proceeds from Income Tax Refunds

178.8

Operational activity

Income Tax Contingency [Line Items]

Income Taxes Paid, Net

(18.8)

Discontinued Operations [Member]

Income Tax Contingency [Line Items]

Unrecognized Tax Benefits that Would Impact Effective Tax Rate

$ 20.0

[1]	For fiscal 2019, includes the impact of certain recurring valuation allowances for domestic and international jurisdictions.

Income Taxes (Schedule of Components of Income from Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Operating Loss Carryforwards [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ 204.9
Domestic	$ (512.2)	(656.9)	$ (75.3)
International	(317.6)	(303.9)	(1,516.2)
Loss from continuing operations before income taxes	(829.8)	(960.8)	(1,591.5)
Ireland
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2.2	0.2	1.2
Non-U.K.
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 1.2	$ 33.4	$ 0.9

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes (Schedule of Significant Components of Income Taxes Related to Continuing Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Current:
Domestic	$ (33.7)	$ 0.1	$ 0.1
International	(12.7)	(375.4)	21.7
Current income tax (benefit) provision	(46.4)	(375.3)	21.8
Deferred:
Domestic	(59.5)	102.2	(1.1)
International	(0.4)	282.0	(605.0)
Deferred income tax (benefit) provision	(59.9)	384.2	(606.1)
Provision for (benefit from) income taxes	(106.3)	8.9	$ (584.3)
Increase (Decrease) Tax Expense (Benefit), Change in Operating Income	92.9	30.0
Increase (Decrease) Tax Benefit, Medicaid Lawsuit	$ 48.9	48.9
Foreign tax provision, refundable credits		1.0
Foreign Tax Benefit, Carryback Claims		$ 281.5

Income Taxes (Schedule of Reconciliation of Income Taxes at Statutory Rate and Tax Provision) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Income Taxes [Line Items]

Income tax expense (benefit), intercompany financing and legal entity reorganization

$ (59.9)

$ 384.2

$ (606.1)

Benefit for income taxes at domestic statutory income tax rate (1)

^[1]

(103.7)

(120.1)

(302.4)

Adjustments to reconcile to income tax provision:

Rate difference between non-U.S. and U.S. jurisdictions

^[2]

224.9

315.3

206.3

Valuation allowances (4)

^[3]

189.7

618.2

61.7

Adjustments to accrued income tax liabilities and uncertain tax positions

^[4]

(9.7)

16.7

(18.7)

Credits, principally research

(4.7)

(11.2)

(13.5)

Permanently nondeductible and nontaxable items

^[3]

9.8

2.8

98.1

Effective Income Tax Rate Reconciliation, Disposition of Business, Amount

^[5]

0.0

9.6

Income tax benefit, tax cut and jobs act

^[6]

0.0

(281.5)

0.0

Other

0.3

0.1

0.0

Income tax benefit, Legal Reorganization

0.0

82.0

(212.8)

Effective Income Tax Rate Reconciliation, Separation Costs

0.0

8.4

0.0

Effective Income Tax Rate Reconciliation, Reorganization Items, net

36.9

8.8

0.0

Provision for (benefit from) income taxes

(106.3)

8.9

$ (584.3)

Increase (Decrease) Tax Benefit, Jurisdiction Rate Difference

90.4

109.0

Increase (Decrease), Tax Expense (Benefit), Gain on Debt Repurchases

79.0

Increase (Decrease) Tax Expense (Benefit) due to opioid-related settlement charge

10.6

60.9

Increase (Decrease) Tax Benefit, Change in Country Referenced Rate

137.3

Increase (Decrease) Tax Benefit, Recurring Valuation Allowances

92.7

Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount

204.9

Increase (Decrease) Tax Benefit, Medicaid Lawsuit

48.9

Increase (Decrease) Tax Expense (Benefit), Change in Operating Income

92.9

$ 30.0

Increase (Decrease) Tax Expense (Benefit) due to reorganization items, net

27.6

Increase (Decrease) Tax Expense (Benefit), Non-restructuring Impairment Charges

$ 13.2

UNITED KINGDOM

Income Taxes [Line Items]

Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent

19.00%

IRELAND

Income Taxes [Line Items]

Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent

12.50%

[1]	The statutory tax rate reflects the Irish statutory tax rate of 12.5% for fiscal 2021 and 2020, and the U.K. statutory tax rate of 19.0% for fiscal 2019.
[2]	For fiscal 2019, includes the impact of certain recurring valuation allowances for domestic and international jurisdictions.
[3]	For fiscal 2021, the permanently nondeductible and nontaxable items were primarily driven by the opioid-related litigation settlement loss that is partially permanently nondeductible. For fiscal 2020, an expense of $204.9 million was included as a discrete valuation allowance on certain net deferred tax assets that were no longer more likely than not realizable due to the Company's substantial doubt about its ability to continue as a going concern, further explained within Note 1. For fiscal 2019, the valuation allowances and permanently nondeductible and nontaxable item were primarily driven by the impact from the opioid-related litigation settlement charge that is partially permanently nondeductible, further explained within Note 19. Additional valuation allowance impacts are netted within other line items, as referenced in the associated footnotes to this table.
[4]	Includes interest and penalties on accrued income tax liabilities and uncertain tax positions.
[5]	The Company completed the sale of its wholly-owned subsidiary BioVectra in November 2019.
[6]	Associated unrecognized tax benefit and valuation allowance are netted within this line

Income Taxes (Schedule of Unrecognized Tax Benefit Activity) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 77.0	$ 85.9	$ 395.9
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of period	349.0	398.6	287.7
Additions related to current year tax positions	0.0	71.1	123.5
Additions related to prior period tax positions	9.3	9.8	19.2
Reductions related to prior period tax positions	(2.8)	(14.2)	(5.7)
Settlements	(0.2)	(80.3)	(1.0)
Lapse of statutes of limitations	(21.8)	(36.0)	(25.1)
Balance at end of period	$ 333.5	$ 349.0	$ 398.6

Income Taxes (Schedule of Unrecognized Tax Benefits Balance Sheet Location) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	$ 333.5	$ 349.0	$ 398.6	$ 287.7
Other Assets [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	255.7	256.4
Other Income Tax Liabilities
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	64.1	83.2
Deferred income tax liability (non-current)
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	13.7	9.4
Liabilities, Total [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	$ 333.5	$ 349.0

Income Taxes (Schedule of Income Taxes Payable) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020
Operating Loss Carryforwards [Line Items]
Other income tax liabilities	$ 83.2	$ 100.1
Total income taxes payable	84.9	126.6
Accrued and Other Current Liabilities
Operating Loss Carryforwards [Line Items]
Accrued and other current liabilities	1.7	26.5
Other Income Tax Liabilities
Operating Loss Carryforwards [Line Items]
Other income tax liabilities	$ 83.2	$ 100.1

Income Taxes (Schedule of Income Tax Receivables and Other Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020
Income Tax Disclosure [Abstract]
Other assets	$ 141.3	$ 139.4
Prepaid expenses and other current assets	36.5	188.7
Total	$ 177.8	$ 328.1

Income Taxes (Schedule of Deferred Taxes Activity) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020
Deferred tax assets:
Tax loss and credit carryforward	$ 4,147.5	$ 4,026.0
Deferred Tax Assets, Capital Loss Carryforwards	1,605.0	1,600.1
Deferred Tax Assets, Opioid-related litigation settlement	294.7	269.3
Deferred Tax Asset, Interest Carryforward	159.5	150.7
Other	292.2	294.9
Total deferred tax assets, gross	6,498.9	6,341.0
Deferred tax liabilities:
Intangible assets	(108.5)	(191.2)
Investment in partnership	(67.1)	(74.8)
Deferred Tax Liabilities, Other	0.0	(44.8)
Total deferred tax liabilities, gross	(175.6)	(310.8)
Net deferred tax asset before valuation allowances	6,323.3	6,030.2
Valuation allowances	(6,344.2)	(6,110.8)
Deferred Tax Liabilities, Net	(20.9)	$ (80.6)
Increase (Decrease) Deferred Tax Assets, Legal Entity Reorganization	21.4
Increase (Decrease) Deferred Tax Assets, Intangible Asset Amortization	92.9
Increase (Decrease) Tax Loss Credit Carryforwards, Operational Activity	$ 178.8

Earnings (Loss) per Share (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Earnings (Loss) per Share [Abstract]
Weighted Average Number of Shares Outstanding, Basic	84.7	84.5	83.9
Weighted-average shares for diluted earnings (loss) per share (in shares)	84.7	84.5	83.9
Antidilutive securities excluded from weighted-average shares (in shares)	5.2	5.6	6.3

Earnings (Loss) per Share Schedule of Earnings per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Earnings Per Share [Abstract]
Income (loss) from continuing operations	$ (723.5)	$ (969.7)	$ (1,007.2)
Income (loss) from discontinued operations, net of income taxes	$ 6.1	$ 25.1	$ 10.7
Weighted Average Number of Shares Outstanding, Basic	84.7	84.5	83.9
Weighted Average Number of Shares Outstanding, Diluted	84.7	84.5	83.9
Loss from continuing operations	$ (8.54)	$ (11.48)	$ (12.00)
Income (Loss) from Discontinued Operations, Per Basic Share	0.07	0.30	0.13
Earnings Per Share, Basic	(8.47)	(11.18)	(11.88)
Loss from continuing operations	(8.54)	(11.48)	(12.00)
Income (Loss) from Discontinued Operations, Per Diluted Share	0.07	0.30	0.13
Earnings Per Share, Diluted	$ (8.47)	$ (11.18)	$ (11.88)

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020
Inventory, Net [Abstract]
Raw materials	$ 59.8	$ 58.1
Work in process	196.4	200.7
Finished goods	91.0	86.1
Inventories	$ 347.2	$ 344.9

Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,886.6	$ 1,910.9
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	1,110.6	1,077.8
Depreciation	$ 94.7	$ 114.0	$ 97.7

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Property, Plant and Equipment [Line Items]
Depreciation	$ 94.7	$ 114.0	$ 97.7
Property, plant and equipment, gross	1,886.6	1,910.9
Less: accumulated depreciation	(1,110.6)	(1,077.8)
Property, plant and equipment, net	776.0	833.1
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	43.5	43.6
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	387.8	416.9
Capitalized Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	121.1	134.0
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,254.1	1,260.4
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 80.1	$ 56.0

Leases (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 35.0	$ 58.6
Operating Lease, Liability, Current	11.1	13.0
Operating Lease, Liability, Noncurrent	20.0	28.0
Operating Lease, Liability, Liability Subject to Compromise	(0.4)	(31.9)
Operating Lease, Liability, Not Subject to Compromise	31.1
Operating Lease, Cost	19.6	21.2	$ 21.3
Short-term Lease, Cost	1.1	1.1	3.5
Variable Lease, Cost	2.4	3.1	0.0
Lease, Cost	$ 23.1	$ 25.4	24.8
Operating Lease, Weighted Average Remaining Lease Term	5 years 8 months 12 days	6 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	4.40%	3.90%
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 14.7
Lessee, Operating Lease, Liability, Payments, Due Year Two	11.0
Lessee, Operating Lease, Liability, Payments, Due Year Three	7.9
Lessee, Operating Lease, Liability, Payments, Due Year Four	4.5
Lessee, Operating Lease, Liability, Payments, Due Year Five	2.8
Lessee, Operating Lease, Liability, Payments, Due after Year Five	2.9
Lessee, Operating Lease, Liability, Payments, Due	43.8
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(12.3)
Operating Lease, Payments	20.4	$ 23.1	23.2
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	2.6	6.9	$ 7.3
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current	11.1	13.0
Operating Lease, Liability, Noncurrent	20.0	28.0
Operating Lease, Liability, Liability Subject to Compromise	$ 0.4	$ 31.9
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued and other current liabilities	Accrued and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Liabilities, Total [Member]
Leases [Abstract]
Operating Lease, Liability	$ 31.5	$ 72.9
Lessee, Lease, Description [Line Items]
Operating Lease, Liability	$ 31.5	$ 72.9

Goodwill and Intangible Assets Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization	$ 581.1	$ 771.2	$ 853.4
Finite-Lived Intangible Assets [Line Items]
Other Asset Impairment Charges	154.9	63.5	388.0
Indefinite-lived intangible assets, gross	116.0	280.3
Intangible Assets, Net (Excluding Goodwill)	5,448.4	6,184.5
VTS-270 [Member]
Finite-Lived Intangible Assets [Line Items]
Other Asset Impairment Charges			$ 274.5
Amitiza
Finite-Lived Intangible Assets [Line Items]
Other Asset Impairment Charges	90.4
MNK-6105 [Member]
Finite-Lived Intangible Assets [Line Items]
Other Asset Impairment Charges	64.5
Terlipressin [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)	81.0	$ 81.0
StrataGraft [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 99.8

Goodwill and Intangible Assets (Schedule Of Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Schedule of Intangible Asset by Major Class [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 388.0
Other Asset Impairment Charges	$ 154.9	$ 63.5	388.0
Intangible asset amortization	581.1	771.2	853.4
Amortizable:
Finite-lived intangible assets, gross	10,601.8	10,592.4
Accumulated amortization	5,269.4	4,688.2
Non-Amortizable:
Indefinite-lived intangible assets, gross	116.0	280.3
Asset Impairment Charges	154.9	63.5	388.0
Trademarks
Non-Amortizable:
Indefinite-lived intangible assets, gross	35.0	35.0
In-process research and development
Non-Amortizable:
Indefinite-lived intangible assets, gross	81.0	245.3
VTS-270 [Member]
Schedule of Intangible Asset by Major Class [Line Items]
Other Asset Impairment Charges			274.5
Stannsoporfin [Member]
Schedule of Intangible Asset by Major Class [Line Items]
Other Asset Impairment Charges			$ 113.5
Completed Technology
Amortizable:
Finite-lived intangible assets, gross	10,404.0	10,394.6
Accumulated amortization	5,160.4	4,586.6
Licensing Agreements
Amortizable:
Finite-lived intangible assets, gross	120.1	120.1
Accumulated amortization	82.1	78.1
Trademarks
Amortizable:
Finite-lived intangible assets, gross	77.7	77.7
Accumulated amortization	$ 26.9	$ 23.5

Goodwill and Intangible Assets (Schedule of Future Amortization Expense, Intangible Assets) (Details) $ in Millions	Dec. 31, 2021 USD ($)
Finite-Lived Intangible Assets [Line Items]
Fiscal 2020	$ 605.3
Fiscal 2021	585.1
Fiscal 2022	564.8
Fiscal 2023	543.1
Fiscal 2024	$ 517.2

Debt (Narrative) (Details) - USD ($)

12 Months Ended

Apr. 15, 2020

Apr. 07, 2020

Nov. 05, 2019

Feb. 27, 2018

Feb. 13, 2018

Jul. 28, 2017

Feb. 28, 2017

Sep. 24, 2015

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Dec. 29, 2017

Apr. 15, 2015

Aug. 31, 2014

Apr. 30, 2013

Debt Instrument [Line Items]

Write off of Deferred Debt Issuance Cost

$ 4,900,000

Long-term Debt, Gross

$ 0

Exchange of Debt, Amount

$ 495,000,000

322,900,000

Extinguishment of Debt, Amount

383,200,000

Debt Issuance Costs, Net

^[1]

6,100,000

34,700,000

Gains on debt extinguishment, net

466,600,000

Repayments of Debt

137,500,000

139,500,000

945,100,000

Debtor Reorganization Items, Write-off of Debt Issuance Costs and Debt Discounts

23,100,000

10,200,000

2023 Notes

Debt Instrument [Line Items]

Debt Instrument, Redemption Price, Percentage

100.00%

Receivable securitization, Maturity Date of July 2020 [Member]

Debt Instrument [Line Items]

Repayments of Long-term Debt

200,000,000

Four Point Eight Eight Percent Notes [Member]

Debt Instrument [Line Items]

Debt instrument, face amount

$ 1,000

Repayments of Debt

$ 119,800,000

Ten Point Zero Percent First Lien Notes [Member]

Debt Instrument [Line Items]

Stated interest rate

10.00%

Existing Notes (December Exchange) [Member]

Debt Instrument [Line Items]

Gains on debt extinguishment, net

377,400,000

Debentures

Debt Instrument [Line Items]

Debt Issuance Costs, Net

^[1]

Debentures | 4.75% senior notes due April 2023

Debt Instrument [Line Items]

Debt Issuance Costs, Net

^[1]

$ 0

Debentures | Five Point Six Two Five Percent Note

Debt Instrument [Line Items]

Stated interest rate

5.625%

Extinguishment of Debt, Amount

$ 144,700,000

Debt Issuance Costs, Net

^[1]

$ 0

Debentures | Five Point Five Percent Notes [Member]

Debt Instrument [Line Items]

Extinguishment of Debt, Amount

208,900,000

Debt Issuance Costs, Net

^[1]

$ 0

Debentures | 2017 Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 900,000,000

Variable interest rate

2.25%

Debt Instrument, Interest Rate, Effective Percentage

^[2]

4.42%

Debentures | 5.75% senior notes due August 2022

Debt Instrument [Line Items]

Debt Issuance Costs, Net

^[1]

$ 0

Debentures | 2020 Notes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 700,000,000

Stated interest rate

4.875%

Debentures | 2025 Notes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 700,000,000

Stated interest rate

5.50%

Debentures | 2023 Notes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 750,000,000

Stated interest rate

5.625%

Debentures | Four Point Eight Eight Percent Notes [Member]

Debt Instrument [Line Items]

Exchange of Debt, Amount

83,200,000

Senior Notes | 4.75% senior notes due April 2023

Debt Instrument [Line Items]

Debt instrument, face amount

$ 600,000,000

Stated interest rate

4.75%

Extinguishment of Debt, Amount

216,400,000

Senior Notes | Five Point Five Percent Notes [Member]

Debt Instrument [Line Items]

Stated interest rate

5.50%

Senior Notes | 5.75% senior notes due August 2022

Debt Instrument [Line Items]

Debt instrument, face amount

$ 900,000,000

Stated interest rate

5.75%

Extinguishment of Debt, Amount

$ 52,900,000

Senior Notes | Ten Point Zero Percent Second Lien Notes [Member]

Debt Instrument [Line Items]

Stated interest rate

10.00%

Secured Debt

Debt Instrument [Line Items]

Debt Issuance Costs, Net

^[1]

$ 6,100,000

34,700,000

Secured Debt | 2017 Revolving Credit Facility

Debt Instrument [Line Items]

Debt Issuance Costs, Net

^[1]

$ 200,000

1,700,000

Secured Debt | Term Loan due Sept 2024 [Member]

Debt Instrument [Line Items]

Long-term Debt, Weighted Average Interest Rate, at Point in Time

^[2]

6.00%

Debt Issuance Costs, Net

^[1]

$ 0

12,300,000

Secured Debt | Term Loan and New Term Loan

Debt Instrument [Line Items]

Variable interest rate

2.75%

Quarterly amortization payments

0.25%

Long-term Debt, Gross

$ 1,865,000,000

Secured Debt | Receivable securitization, Maturity Date of July 2020 [Member]

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 250,000,000

Variable interest rate

0.90%

Secured Debt | Term Loan due 2025 [Member]

Debt Instrument [Line Items]

Long-term Debt, Weighted Average Interest Rate, at Point in Time

^[2]

6.25%

Debt Issuance Costs, Net

^[1]

$ 0

5,000,000.0

Secured Debt | Ten Point Zero Percent First Lien Notes [Member]

Debt Instrument [Line Items]

Debt Issuance Costs, Net

^[1]

5,900,000

7,700,000

Secured Debt | Ten Point Zero Percent Second Lien Notes [Member]

Debt Instrument [Line Items]

Stated interest rate

10.00%

Debt Issuance Costs, Net

^[1]

$ 0

$ 8,000,000.0

Debt Issuance Costs, Gross

$ 10,100,000

2017 Revolving Credit Facility | Term loan due March 2021

Debt Instrument [Line Items]

Facility fees for letters of credit

0.275%

Option A | 5.75% senior notes due August 2022

Debt Instrument [Line Items]

Repurchase percentage

101.00%

Option A | 2023 Notes

Debt Instrument [Line Items]

Repurchase percentage

101.00%

Option A | Ten Point Zero Percent Second Lien Notes [Member]

Debt Instrument [Line Items]

Repurchase percentage

101.00%

Option B | 5.75% senior notes due August 2022

Debt Instrument [Line Items]

Repurchase percentage

100.00%

Option B | 2023 Notes

Debt Instrument [Line Items]

Repurchase percentage

100.00%

Option B | Ten Point Zero Percent Second Lien Notes [Member]

Debt Instrument [Line Items]

Repurchase percentage

100.00%

Letter of Credit | 2017 Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 50,000,000

Sucampo [Member] | Secured Debt | Term Loan due 2025 [Member]

Debt Instrument [Line Items]

Variable interest rate

3.00%

Quarterly amortization payments

0.25%

Loans Payable

$ 600,000,000

Ten Point Zero Percent First Lien Notes [Member] | Four Point Eight Eight Percent Notes [Member]

Debt Instrument [Line Items]

Debt Conversion, Converted Instrument, Amount

$ 1,000

Existing Notes (December Exchange) [Member] | Secured Debt | Ten Point Zero Percent Second Lien Notes [Member]

Debt Instrument [Line Items]

Debt instrument, face amount

$ 252,700,000

Five Point Five Percent Notes [Member] | Secured Debt | Ten Point Zero Percent Second Lien Notes [Member]

Debt Instrument [Line Items]

Debt instrument, face amount

$ 70,200,000

[1]	As a result of the Company's Chapter 11 Cases, the Company expensed $23.1 million and $10.2 million of unamortized discount and debt issuance costs, net, recorded in reorganization items, net in the consolidated statements of operations for fiscal 2021 and 2020, respectively.
[2]	Includes the incremental 200 basis points and 250 basis points related to the cash adequate protection payments for the revolving credit facility and senior secured term loans, respectively. Refer to Note 2 for further information

Debt (Schedule of Long term debt) (Details) - USD ($)
$ in Millions

Dec. 31, 2021

Dec. 25, 2020

Secured debt:

Long-term Debt, Current Maturities

$ (1,395.0)

$ (3,622.6)

Unsecured debt:

Long-term Debt, Gross

0.0

Debt Issuance Costs, Noncurrent, Net

^[1]

0.0

Debt Issuance Costs, Net

^[1]

6.1

34.7

Debt, Long-term and Short-term, Combined Amount

1,660.7

Debt, Long-term and Short-term, Combined Amount

5,145.8

5,283.3

Debt Issuance Costs, Current, Net

^[1]

(6.1)

(34.7)

Secured Debt

3,485.1

3,622.6

Liabilities Subject to Compromise

(6,397.7)

(4,192.6)

Long-term Debt [Member]

Unsecured debt:

Liabilities Subject to Compromise

^[2],[3]

(3,750.8)

(1,660.7)

Liabilities Subject to Compromise

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

8.00% debentures due March 2023

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

4.4

4.75% senior notes due April 2023

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

133.7

9.50% debentures due May 2022

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

10.4

5.75% senior notes due August 2022

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

610.3

Five Point Six Two Five Percent Note

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

514.7

Five Point Five Percent Notes [Member]

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

387.2

2017 Revolving Credit Facility

Unsecured debt:

Secured Debt

900.0

Term Loan due Sept 2024 [Member]

Unsecured debt:

Secured Debt

1,396.5

1,505.2

Term Loan due 2025 [Member]

Unsecured debt:

Secured Debt

370.7

399.5

Ten Point Zero Percent First Lien Notes [Member]

Unsecured debt:

Secured Debt

495.0

Ten Point Zero Percent Second Lien Notes [Member]

Unsecured debt:

Secured Debt

322.9

Senior Notes | 4.75% senior notes due April 2023

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

133.7

Senior Notes | 5.75% senior notes due August 2022

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

610.3

Debentures

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

Debentures | 8.00% debentures due March 2023

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

Debentures | 4.75% senior notes due April 2023

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

Debentures | 9.50% debentures due May 2022

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

Debentures | 5.75% senior notes due August 2022

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

Debentures | Five Point Six Two Five Percent Note

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

Debt, Long-term and Short-term, Combined Amount

514.7

Debentures | Five Point Five Percent Notes [Member]

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

Debt, Long-term and Short-term, Combined Amount

387.2

Debentures | 2017 Revolving Credit Facility

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

900.0

Debentures | Ten Point Zero Percent First Lien Notes [Member]

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

495.0

Debentures | Ten Point Zero Percent Second Lien Notes [Member]

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

322.9

Secured Debt

Unsecured debt:

Debt Issuance Costs, Net

^[1]

6.1

34.7

Secured Debt | 2017 Revolving Credit Facility

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.2

1.7

Secured Debt | Term Loan due Sept 2024 [Member]

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

12.3

Secured Debt

1,505.2

Secured Debt | Term Loan due 2025 [Member]

Unsecured debt:

Debt Issuance Costs, Net

^[1]

0.0

5.0

Secured Debt

399.5

Secured Debt | Ten Point Zero Percent First Lien Notes [Member]

Unsecured debt:

Debt Issuance Costs, Net

^[1]

5.9

7.7

Secured Debt | Ten Point Zero Percent Second Lien Notes [Member]

Unsecured debt:

Debt Issuance Costs, Net

^[1]

$ 0.0

8.0

Debentures | 8.00% debentures due March 2023

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

4.4

Debentures | 9.50% debentures due May 2022

Unsecured debt:

Debt, Long-term and Short-term, Combined Amount

$ 10.4

[1]	As a result of the Company's Chapter 11 Cases, the Company expensed $23.1 million and $10.2 million of unamortized discount and debt issuance costs, net, recorded in reorganization items, net in the consolidated statements of operations for fiscal 2021 and 2020, respectively.
[2]	In connection with the Company's Chapter 11 Cases, $3,750.8 million and $1,660.7 million of outstanding debt instruments have been classified as LSTC in the Company's consolidated balance sheets as of December 31, 2021 and December 25, 2020, respectively. Up to the Petition Date, the Company continued to accrue interest expense in relation to the unsecured debt instruments classified as LSTC. The Company continues to accrue and pay interest on the outstanding secured debt instruments classified as LSTC in conjunction with the cash collateral order. Refer to Note 2 for further information.
[3]	Subsequent to December 25, 2020, in accordance with the agreement in principle reached with the Settling Second Lien Noteholders on September 2, 2021 and Joinder and Amendment to the RSA entered into in March 2021, $322.9 million of Second Lien Notes and $1,767.2 million of outstanding senior secured term loans, respectively, were classified as LSTC in the Company's consolidated balance sheet as of December 31, 2021.

Debt (Schedule of Maturities of Long-term Debt) (Details) $ in Millions	Dec. 31, 2021 USD ($)
Debt Disclosure [Abstract]
Fiscal 2022	$ 1,539.2
Fiscal 2023	671.3
Fiscal 2024	1,371.1
Fiscal 2025	$ 1,564.2

Debt Schedule of Outstanding Borrowings and Applicable Rates (Details) - USD ($)
$ in Millions

12 Months Ended

Oct. 12, 2020

Dec. 31, 2021

Dec. 25, 2020

Debt Instrument [Line Items]

Debt, Long-term and Short-term, Combined Amount

$ 5,145.8

$ 5,283.3

Secured Debt

3,485.1

3,622.6

Term Loan due Sept 2024 [Member]

Debt Instrument [Line Items]

Secured Debt

1,396.5

1,505.2

Term Loan due 2025 [Member]

Debt Instrument [Line Items]

Secured Debt

370.7

399.5

2017 Revolving Credit Facility

Debt Instrument [Line Items]

Secured Debt

$ 900.0

900.0

Secured Debt

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Increase (Decrease)

200.00%

Secured Debt | Term Loan due Sept 2024 [Member]

Debt Instrument [Line Items]

Long-term Debt, Weighted Average Interest Rate, at Point in Time

^[1]

6.00%

Secured Debt

1,505.2

Secured Debt | Term Loan due 2025 [Member]

Debt Instrument [Line Items]

Long-term Debt, Weighted Average Interest Rate, at Point in Time

^[1]

6.25%

Secured Debt

399.5

Debentures | 2017 Revolving Credit Facility

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Effective Percentage

^[1]

4.42%

Debt, Long-term and Short-term, Combined Amount

$ 900.0

Term Loans due Sept 2024 and Feb 2025 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Increase (Decrease)

250.00%

[1]	Includes the incremental 200 basis points and 250 basis points related to the cash adequate protection payments for the revolving credit facility and senior secured term loans, respectively. Refer to Note 2 for further information

Retirement Plans Narrative (Details) $ in Millions	12 Months Ended
Retirement Plans Narrative (Details) $ in Millions	Dec. 31, 2021 USD ($) contract	Dec. 25, 2020 USD ($) contract
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of Life Insurance Contract Held in Rabbi Trust \| contract	57	61
Deferred Compensation Plan Assets	$ 43.4	$ 45.0
Deferred Compensation Plan Assets, Death Benefit on Insurance Contracts	86.4	92.7
Deferred Compensation Plan Assets, Loans Outstanding Against Insurance Contracts	20.8	23.2
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	0.7	1.6
Moody's, Aa1 Rating [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Lower Threshold for Discount Rate Basis, Corporate Bonds	$ 250.0
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Percentage of Projected Benefit Obligation	36.10%
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred Compensation Plan Assets, Collateral For Plan Benefits	$ 7.9	$ 7.3

Retirement Plans (Schedule of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0.2	$ 0.2	$ 0.1
Interest cost	0.3	0.5	0.7
Amortization of net actuarial loss	0.9	0.7	0.5
Amortization of prior service cost (credit)	0.1	0.1	0.2
Net period benefit cost (credit)	1.5	1.5	1.5
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.0	0.0	0.0
Interest cost	0.7	1.2	1.6
Amortization of net actuarial loss	0.2	0.0	0.0
Amortization of prior service cost (credit)	(2.1)	(2.1)	(2.1)
Net period benefit cost (credit)	$ (1.2)	$ (0.9)	$ (0.5)

Retirement Plans (Schedule of Benefit Obligation, Plan Assets and Funded Status of Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Pension Benefits
Change in benefit obligations:
Projected benefit obligations at beginning of year	$ 29.4	$ 27.0
Service cost	0.2	0.2	$ 0.1
Interest cost	0.3	0.5	0.7
Actuarial (gain) loss	(0.9)	1.8
Defined Benefit Plan, Benefit Obligation, Benefits Paid	(0.7)	(1.5)
Plan settlements	0.0	(0.1)
Currency translation	(1.0)	1.5
Projected benefit obligations at end of year	27.3	29.4	27.0
Change in plan assets:
Employer contributions	0.7	1.6
Postretirement Benefits
Change in benefit obligations:
Projected benefit obligations at beginning of year	40.1	40.5
Service cost	0.0	0.0	0.0
Interest cost	0.7	1.2	1.6
Actuarial (gain) loss	(1.7)	1.2
Defined Benefit Plan, Benefit Obligation, Benefits Paid	(1.8)	(2.8)
Plan settlements	0.0	0.0
Currency translation	0.0	0.0
Projected benefit obligations at end of year	$ 37.3	$ 40.1	$ 40.5

Retirement Plans (Schedule of Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020
Amounts recognized on the consolidated balance sheet:
Pension and postretirement benefits	$ 30.1	$ 34.6
Pension Benefits
Amounts recognized on the consolidated balance sheet:
Current liabilities	0.8	0.8
Pension and postretirement benefits	16.7	18.9
Liability Subject to Compromise, Pension and Other Postretirement Benefit Plan, Benefit Obligation	9.8	9.7
Net amount recognized on the consolidated balance sheet	27.3	29.4
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	(9.7)	(11.8)
Prior service (cost) credit	0.0	(0.1)
Net amount recognized in accumulated other comprehensive loss	(9.7)	(11.9)
Postretirement Benefits
Amounts recognized on the consolidated balance sheet:
Current liabilities	1.7	1.9
Pension and postretirement benefits	13.4	15.5
Liability Subject to Compromise, Pension and Other Postretirement Benefit Plan, Benefit Obligation	22.2	22.7
Net amount recognized on the consolidated balance sheet	37.3	40.1
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	(0.1)	(2.0)
Prior service (cost) credit	1.7	3.8
Net amount recognized in accumulated other comprehensive loss	$ 1.6	$ 1.8

Retirement Plans (Schedule of Amounts to be Amortized From Accumulated Other Comprehensive Income) (Details) $ in Millions	Dec. 31, 2021 USD ($)
Pension Benefits
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract]
Amortization of net actuarial loss (gain)	$ 0.6
Amortization of prior service credit	0.0
Postretirement Benefits
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract]
Amortization of net actuarial loss (gain)	(0.1)
Amortization of prior service credit	$ (1.7)

Retirement Plans (Schedule of Actuarial Assumptions) (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
United States
Weighted Average-Assumptions Used in Calculating Net Periodic Benefit Cost
Discount rate	1.80%	2.80%	4.00%
Rate of compensation increase	0.00%	0.00%	0.00%
Weighted-Average Assumptions Used in Calculating Benefit Obligations
Discount rate	2.30%	1.80%	2.80%
Rate of compensation increase	0.00%	0.00%	0.00%
Foreign Plan
Weighted Average-Assumptions Used in Calculating Net Periodic Benefit Cost
Discount rate	1.00%	1.30%	2.00%
Rate of compensation increase	2.50%	2.50%	2.50%
Weighted-Average Assumptions Used in Calculating Benefit Obligations
Discount rate	1.30%	1.00%	1.30%
Rate of compensation increase	2.50%	2.50%	2.50%
Postretirement Benefits
Weighted Average-Assumptions Used in Calculating Net Periodic Benefit Cost
Discount rate	2.00%	3.00%	4.10%
Weighted-Average Assumptions Used in Calculating Benefit Obligations
Discount rate	2.50%	2.00%	3.00%
Healthcare Cost Trend Assumptions
Healthcare cost trend rate assumed for next fiscal year	5.70%	5.80%
Rate to which the cost trend rate is assumed to decline	4.50%	4.50%
Fiscal year the ultimate trend rate is achieved	2038	2038

Retirement Plans (Schedule of Expected Benefit Payments) (Details) $ in Millions	Dec. 31, 2021 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Fiscal 2020	$ 2.9
Fiscal 2021	1.7
Fiscal 2022	1.7
Fiscal 2023	1.6
Fiscal 2024	1.5
Fiscal 2027 - 2031	6.9
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Fiscal 2020	4.7
Fiscal 2021	3.0
Fiscal 2022	2.9
Fiscal 2023	2.8
Fiscal 2024	2.7
Fiscal 2027 - 2031	$ 11.7

Retirement Plans (Defined Contribution Plan) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) contract	Dec. 25, 2020 USD ($) contract	Dec. 27, 2019 USD ($)
Defined Contribution Plan Disclosure [Line Items]
Number of Life Insurance Contract Held in Rabbi Trust \| contract	57	61
Foreign Plan
Defined Contribution Plan Disclosure [Line Items]
Deferred Compensation Plan Assets, Collateral For Plan Benefits	$ 7.9	$ 7.3
Defined Contribution Plan, 401 K [Member]
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of match	50.00%
Defined Contribution Plan, Cost	$ 22.2	$ 26.0	$ 21.9

Equity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	Mar. 01, 2017
Class of Stock [Line Items]
Preferred shares, shares authorized (in shares)	500,000,000	500,000,000
Preferred shares, par value (in usd per share)	$ 0.20	$ 0.20
Preferred shares, shares issued (in shares)	0	0
Share-based Payment Arrangement, Cash Used to Settle Award		$ 0.4	$ 2.6
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	$ 0.1	(0.5)	(2.5)
Treasury Shares
Class of Stock [Line Items]
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0.0	(0.4)	(2.6)
March 2017 Repurchase Program [Member]
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount				$ 1,000.0
Repurchase of ordinary shares, value	0.0	$ 0.0	$ 0.0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 564.2

Share Plans (Narrative) (Details) - USD ($)	12 Months Ended
Share Plans (Narrative) (Details) - USD ($)	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	May 16, 2018	Mar. 19, 2015	Jul. 01, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation cost	$ 10,200,000	$ 25,300,000	$ 33,800,000
Tax benefit from share-based compensation cost	$ 0	$ 0	1,200,000
Intrinsic value of options vested			300,000
Tax benefit from stock options exercised			$ 100,000
Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period	4 years
Expiration period	10 years
Unrecognized compensation cost, share options	$ 1,600,000
Weighted-average period to recognize unrecognized compensation cost, share options	1 year
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value, granted restricted share units			$ 20.13
Weighted-average period to recognize unrecognized compensation cost, share options	1 year 1 month 6 days
Fair value of restricted share units vested in period	$ 4,400,000
Unrecognized compensation cost, restricted share units	$ 1,900,000
Performance Shares Award, Performance Period	4 years
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date	15.00%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value, granted restricted share units			$ 32.46
2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under 2013 Plan						5,700,000
2015 Mallinckrodt Pharmaceuticals Stock and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under 2013 Plan					17,800,000
2018 Mallinckrodt Pharmaceuticals Stock and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under 2013 Plan				26,800,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of ordinary shares to be awarded	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of ordinary shares to be awarded	200.00%
New ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 25,000

Share Plans (Schedule of Share Option Award Status Upon Completion of the Conversion) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Share-based Payment Arrangement [Abstract]
Share options outstanding	5,553,519	6,069,712	6,890,700	7,007,051
Weighted-average exercise price, outstanding share options	$ 35.05	$ 35.95	$ 36.39	$ 38.74
Weighted-average remaining contractual term, outstanding share options	1 year 8 months 12 days
Aggregate intrinsic value, outstanding share options	$ 0.0
Share options exerciseable	4,616,911
Weighted-average exercise price, exercisable share options	$ 38.56
Weighted-average remaining contractual term, exercisable share options	2 years
Aggregate intrinsic value, exercisable share options	$ 0.0

Share Plans (Schedule of the Valuation Assumptions Used in the Conversion) (Details) - $ / shares	12 Months Ended
	Dec. 27, 2019	Dec. 31, 2021	Dec. 25, 2020	Dec. 28, 2018
Weighted Average Assumptions
Expected share price volatility	45.80%
Risk-free interest rate	2.20%
Expected annual dividend per share	0.00%
Expected life of options (in years)	5 years 3 months 18 days
Fair value per option	$ 9.66
Share options outstanding	6,890,700	5,553,519	6,069,712	7,007,051

Share Plans (Schedule of Share Option Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from stock options exercised			$ 0.1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 9.66
Intrinsic value of options vested			$ 0.3
Share Option Activity [Roll Forward]
Beginning balance	6,069,712	6,890,700	7,007,051
Granted			1,378,175
Exercised			(45,324)
Expired/Forfeited	(516,193)	(820,988)	(1,449,202)
Ending balance	5,553,519	6,069,712	6,890,700
Share options vested and unvested expected to vest	5,352,763
Share options exerciseable	4,616,911
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-average exercise price, outstanding share options	$ 35.05	$ 35.95	$ 36.39	$ 38.74
Weighted-average exercise price, granted share options			22.09
Weighted-average exercise price, exercised share options			20.67
Weighted-average exercise price, expired and forfeited share options	45.63	$ 39.65	$ 34.80
Weighted-average exercise price, vested and unvested expected to vest share options	35.14
Weighted-average exercise price, exercisable share options	$ 38.56
Weighted-average remaining contractual term, outstanding share options	1 year 8 months 12 days
Weighted-average remaining contractual term, vested and unvested expected to vest share options	5 years 6 months
Weighted-average remaining contractual term, exercisable share options	2 years
Aggregate intrinsic value, outstanding share options	$ 0.0
Aggregate intrinsic value, vested and unvested expected to vest share options	0.0
Aggregate intrinsic value, exercisable share options	$ 0.0
Tax benefit from stock options exercised			$ 0.1

Share Plans (Schedule of Restricted Share Unit Activity) (Details) - Restricted Share Units - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period to recognize unrecognized compensation cost, share options	1 year 1 month 6 days
Restricted Share Unit Activity [Roll Forward]
Beginning balance	490,671	1,419,020	1,685,101
Granted			755,180
Exercised	(186,930)	(647,167)	(713,274)
Expired/Forfeited	(60,844)	(281,182)	(307,987)
Ending balance	242,897	490,671	1,419,020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average grant date fair value, restricted share units	$ 19.40	$ 20.96	$ 22.68	$ 29.54
Weighted-average grant date fair value, granted restricted share units			20.13
Weighted-average grant date fair value, vested restricted share units	23.43	24.23	35.29
Weighted-average grant date fair value, forfeited restricted share units	$ 19.58	$ 22.11	$ 24.81
Performance Shares Award, Performance Period	4 years

Share Plans (Schedule of Performance Share Unit Activity) (Details) - $ / shares

12 Months Ended

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Dec. 28, 2018

Performance Shares

Performance Share Unit Activity [Roll Forward]

Beginning balance

^[1]

1,195,505

1,161,529

Granted

448,363

Expired/Forfeited

^[1]

(1,195,505)

(414,387)

Ending balance

^[1]

1,195,505

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]

Weighted-average grant date fair value, restricted share units

$ 0

$ 23.85

$ 28.61

Weighted-average grant date fair value, granted restricted share units

32.46

Weighted-average grant date fair value, forfeited restricted share units

$ 23.85

$ 30.54

Phantom Share Units (PSUs)

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]

Performance Shares Award, Performance Period

3 years

[1]	The number of shares disclosed within this table are at the target number of 100.0%.

Share Plans (Schedule of Fair Value Assumptions for Performance Share Unit) (Details)	12 Months Ended
	Dec. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected share price volatility	45.80%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected share price volatility	55.20%
Peer group stock price volatility	41.30%
Correlation of returns	47.80%

Guarantees (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Guarantees (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020
Others
Guarantor Obligations [Line Items]
Maximum future payments	$ 34.7
Asset Pledged as Collateral [Member]
Guarantor Obligations [Line Items]
Restricted Cash	$ 41.2
Mallinckrodt Baker \| Indemnification Agreement
Guarantor Obligations [Line Items]
Guarantor obligations, obligation term	17 years
Maximum future payments	$ 70.2
Escrow	30.0
Mallinckrodt Baker \| Indemnification Agreement \| Other Liabilities
Guarantor Obligations [Line Items]
Guarantors obligation	14.9	$ 15.4
Mallinckrodt Baker \| Indemnification Agreement \| Other Assets
Guarantor Obligations [Line Items]
Escrow	19.0	19.0
Mallinckrodt Baker \| Enviornmental, Health and Safety Matters \| Indemnification Agreement \| Other Liabilities
Guarantor Obligations [Line Items]
Guarantors obligation	$ 12.1	$ 12.7

Commitments and Contingencies (Narrative) (Details)

3 Months Ended

12 Months Ended

Sep. 02, 2021

USD ($)

Oct. 12, 2020

USD ($)

Oct. 11, 2020

USD ($)

Feb. 25, 2020

USD ($)

$ / shares

Feb. 01, 2020

USD ($)

Oct. 01, 2019

USD ($)

Aug. 08, 2019

USD ($)

Jun. 30, 2018

Defendent

May 01, 2007

Defendent

Sep. 27, 2019

USD ($)

Dec. 31, 2021

USD ($)

lawsuit

Case

Dec. 25, 2020

USD ($)

Defendent

Dec. 27, 2019

USD ($)

Defendent

Sep. 28, 2021

USD ($)

Apr. 21, 2020

USD ($)

Aug. 07, 2018

USD ($)

Jun. 29, 2018

USD ($)

Apr. 11, 2014

USD ($)

Loss Contingencies [Line Items]

Environmental liabilities

$ 95,800,000

Interest Payable, Installment Sales

12,400,000

$ 28,200,000

Decrease, Interest Payable, Installment Sales

15,800,000

Settlement Warrants, Fair Value Disclosure

Medicaid lawsuit charge

(641,100,000)

Liabilities subject to compromise (Note 2)

6,397,700,000

4,192,600,000

Environmental liabilities

43,000,000.0

59,800,000

Sales [Member]

Loss Contingencies [Line Items]

Medicaid lawsuit charge

^[1]

536,000,000.0

^[2]

$ 0

Operating Expenses

Loss Contingencies [Line Items]

Medicaid lawsuit charge

(105,100,000)

Track 1 Cases [Member]

Loss Contingencies [Line Items]

Payments for Legal Settlements

$ 24,000,000

Loss Contingency Accrual, Product Liability, Gross

6,000,000

Loss Contingency, Accrual, Noncurrent

$ 500,000

Occidental, Lower Passaic River [Member]

Loss Contingencies [Line Items]

Number of defendants | Defendent

120

Lower Passaic River, New Jersey

Loss Contingencies [Line Items]

Environmental liabilities

$ 26,100,000

Remedial cost, estimate

$ 1,380,000,000

$ 1,700,000,000

Loss Contingency, Settlement Agreement, Amount

$ 280,600

Asbestos Matters

Loss Contingencies [Line Items]

Pending claims | Case

11,800

Estimation of liability, historical term

4 years

Estimation of liability, expected future term of claims

7 years

Questcor Subpoena [Member]

Loss Contingencies [Line Items]

Payments for Legal Settlements

$ 15,400,000

Marietta, GA Litigation [Member]

Loss Contingencies [Line Items]

Loss Contingency, Damages Sought, Value

$ 2,000,000

Crab Orchard National Wildlife Refuge Superfund Site

Loss Contingencies [Line Items]

Environmental liabilities

$ 46,300,000

Environmental Remediation Expense

34,300,000

Upper 9 Miles, Lower Passaic River, New Jersey

Loss Contingencies [Line Items]

Remedial cost, estimate

$ 441,000,000

Other current liabilities

Loss Contingencies [Line Items]

Environmental liabilities, current

800,000

Medicaid Lawsuit [Member]

Loss Contingencies [Line Items]

Liabilities subject to compromise (Note 2)

634,700,000

638,900,000

Accrued Environmental Loss Contingencies

Loss Contingencies [Line Items]

Liabilities subject to compromise (Note 2)

^[3]

52,000,000.0

$ 0

Accrued Environmental Loss Contingencies | Lower Passaic River, New Jersey

Loss Contingencies [Line Items]

Liabilities subject to compromise (Note 2)

4,600,000

U.S. House Committee Investigation [Member]

Loss Contingencies [Line Items]

Number of defendants | Defendent

Lower Passaic River, New Jersey

Loss Contingencies [Line Items]

Number of defendants | Defendent

National Benefit Fund Litigation [Member]

Loss Contingencies [Line Items]

Number of defendants | Defendent

Cesar Castillo, Inc., Litigation [Member]

Loss Contingencies [Line Items]

Number of defendants | Defendent

Opioid Claimant Trust [Member]

Loss Contingencies [Line Items]

Warrant, Exercise Price | $ / shares

$ 3.15

Litigation Settlement, Amount Awarded to Other Party, Post Closing Settlement Amount, Year Three through Seven

$ 150,000,000

Restructuring Support Agreement Proposed Settlement, Year Eight

$ 125,000,000

Opioid Claimant Trust [Member] | Restructuring Support Agreement [Member]

Loss Contingencies [Line Items]

Litigation Settlement, Amount Awarded to Other Party, Settlement Closing Amount

450,000,000

Litigation Settlement, Amount Awarded to Other Party, Post Closing Settlement Amount, Year One & Two

200,000,000

Litigation Settlement, Amount Awarded to Other Party, Post Closing Settlement Amount, Year Three through Seven

150,000,000

Restructuring Support Agreement Proposed Settlement, Year Eight

$ 125,000,000

New York State Department of Financial Services [Member]

Loss Contingencies [Line Items]

Remedial cost, estimate

$ 5,000

Medicaid Lawsuit [Member]

Loss Contingencies [Line Items]

Litigation Settlement, Amount Awarded to Other Party, Post Closing Settlement Amount, Total

$ 260,000,000

Minimum

Loss Contingencies [Line Items]

Remedial cost, estimate

72,300,000

Minimum | Lower Passaic River, New Jersey

Loss Contingencies [Line Items]

Remedial cost, estimate

365,000,000

Maximum

Loss Contingencies [Line Items]

Remedial cost, estimate

120,900,000

Maximum | Lower Passaic River, New Jersey

Loss Contingencies [Line Items]

Remedial cost, estimate

$ 3,200,000,000

Maximum | Opioid Claimant Trust [Member]

Loss Contingencies [Line Items]

Loss Contingency Accrual

$ 1,600,000,000

1,725,000,000

$ 1,600,000,000

Maximum | Opioid Claimant Trust [Member] | Restructuring Support Agreement [Member]

Loss Contingencies [Line Items]

Loss Contingency Accrual

1,725,000,000

Equity Value of Opioid Claimants' Ownership

$ 1,551,000,000

Maximum | Opioid Claimant Trust [Member] | Ownership Interest [Member]

Loss Contingencies [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

19.99%

Maximum | Opioid Claimant Trust [Member] | Ownership Interest [Member] | Restructuring Support Agreement [Member]

Loss Contingencies [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

19.99%

Maximum | Medicaid Lawsuit [Member]

Loss Contingencies [Line Items]

Remedial cost, estimate

$ 640,000,000

Maximum | Boston Civil Investigative Demand [Member]

Loss Contingencies [Line Items]

Remedial cost, estimate

1,280,000,000

Acthar Gel (1) | Humana Inc. [Member]

Loss Contingencies [Line Items]

Loss Contingency, Damages Sought, Value

$ 700,000,000

Fair Value, Measurements, Recurring

Loss Contingencies [Line Items]

Contingent consideration

27,300,000

34,700,000

Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3

Loss Contingencies [Line Items]

Contingent consideration

27,300,000

34,700,000

Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Stratatech [Member]

Loss Contingencies [Line Items]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability

27,300,000

19,100,000

Fair Value, Measurements, Recurring | MNK-6105 [Member] | Fair Value, Inputs, Level 3 | Ocera [Member]

Loss Contingencies [Line Items]

Contingent consideration

$ 0

$ 15,600,000

Cities, Counties, and/or Other Government-related Persons/Entities [Member] | opioid crisis [Member]

Loss Contingencies [Line Items]

Loss Contingency, Number of Plaintiffs | lawsuit

2,619

Hospitals, Health Systems, Unions, Health and Welfare Fund or Third-Party Payers [Member] | opioid crisis [Member]

Loss Contingencies [Line Items]

Loss Contingency, Number of Plaintiffs | lawsuit

270

Individuals [Member] | opioid crisis [Member]

Loss Contingencies [Line Items]

Loss Contingency, Number of Plaintiffs | lawsuit

124

Schools and School Boards [Member] | opioid crisis [Member]

Loss Contingencies [Line Items]

Loss Contingency, Number of Plaintiffs | lawsuit

State Attorney Generals [Member] | opioid crisis [Member]

Loss Contingencies [Line Items]

Loss Contingency, Number of Plaintiffs | lawsuit

[1]	Specialty Brands net sales for fiscal 2020 includes the prospective change to the Medicaid rebate calculation, which served to reduce Acthar Gel net sales by $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.
[2]	Excludes the $105.1 million that is reflected as a component of operating expenses as it represents a pre-acquisition contingency related to the portion of the liability that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor in August 2014. See Note 19 for further detail on the status of the Medicaid lawsuit.
[3]	Represents certain environmental liabilities intended to be discharged upon effectiveness of the plan of reorganization.

Financial Instruments and Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019	Jul. 24, 2019	Aug. 31, 2014	Apr. 30, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Cash and Investments, Current	$ 24.0	$ 20.2	$ 0.0
Restricted Cash and Investments, Noncurrent	36.2	36.2	31.7
Silence Therapeutics [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI				$ 5.0
Unrealized Gain (Loss) on Investments	$ (4.7)	(3.8)	(20.2)
Debentures \| 8.00% debentures due March 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	8.00%
Debentures \| 8.00% debentures due March 2023 \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	8.00%
Debentures \| 9.50% debentures due May 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	9.50%
Debentures \| 9.50% debentures due May 2022 \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	9.50%
Senior Notes \| 4.75% senior notes due April 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	4.75%					4.75%
Senior Notes \| 4.75% senior notes due April 2023 \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	4.75%
Senior Notes \| Five Point Five Percent Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	5.50%
Senior Notes \| 5.75% senior notes due August 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	5.75%				5.75%
Senior Notes \| 5.75% senior notes due August 2022 \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	5.75%
Debentures \| Five Point Five Percent Notes [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	5.50%
Debentures \| Five Point Six Two Five Percent Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	5.625%
Debentures \| Five Point Six Two Five Percent Note \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	5.625%
Carrying Value \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	$ 60.2	56.4
Carrying Value \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash surrender value of life insurance	51.3	52.3
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration upon acquisition	27.3	34.7
Debt and equity securities held in rabbi trusts	38.7	33.0
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration upon acquisition	0.0	0.0
Debt and equity securities held in rabbi trusts	24.9	23.5
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration upon acquisition	0.0	0.0
Debt and equity securities held in rabbi trusts	13.8	9.5
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration upon acquisition	27.3	34.7
Debt and equity securities held in rabbi trusts	0.0	0.0
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3 \| Stratatech [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability	27.3	19.1
Fair Value, Measurements, Recurring \| MNK-6105 [Member] \| Fair Value, Inputs, Level 3 \| Ocera [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration upon acquisition	$ 0.0	15.6
Nuclear Imaging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration received, equity certificates		$ 9.0	$ 9.0

(Schedule of Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020
Assets:
Debt and equity securities held in rabbi trusts	$ 38.7	$ 33.0
Other Assets, Fair Value Disclosure	36.5	31.1
Total assets at fair value	75.2	64.1
Liabilities:
Deferred compensation liabilities	36.9	38.0
Contingent consideration	27.3	34.7
Total liabilities at fair value	64.2	72.7
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Debt and equity securities held in rabbi trusts	24.9	23.5
Other Assets, Fair Value Disclosure	36.5	31.1
Total assets at fair value	61.4	54.6
Liabilities:
Deferred compensation liabilities	0.0	0.0
Contingent consideration	0.0	0.0
Total liabilities at fair value	0.0	0.0
Significant Other Observable Inputs (Level 2)
Assets:
Debt and equity securities held in rabbi trusts	13.8	9.5
Other Assets, Fair Value Disclosure	0.0	0.0
Total assets at fair value	13.8	9.5
Liabilities:
Deferred compensation liabilities	36.9	38.0
Contingent consideration	0.0	0.0
Total liabilities at fair value	36.9	38.0
Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	0.0	0.0
Other Assets, Fair Value Disclosure	0.0	0.0
Total assets at fair value	0.0	0.0
Liabilities:
Deferred compensation liabilities	0.0	0.0
Contingent consideration	27.3	34.7
Total liabilities at fair value	$ 27.3	$ 34.7

(Schedule of Reconciliation of Changes in Fair Value of Contingent Consideration) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liabilities Subject to Compromise, Contingent Considerations	$ (27.3)
Fair Value, Measurements, Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	27.3	$ 34.7
Fair Value, Inputs, Level 3 \| Fair Value, Measurements, Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	27.3	34.7
Fair Value, Inputs, Level 3 \| Fair Value, Measurements, Recurring \| Stratatech [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability	27.3	$ 19.1
Fair Value, Inputs, Level 3 \| Fair Value, Measurements, Recurring \| Contingent Liabilities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	34.7
Ending balance	0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ (7.4)

(Schedule of Carrying Amount and Fair Value of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 25, 2020	Apr. 07, 2020	Nov. 05, 2019	Aug. 31, 2014	Apr. 30, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 4,267.9	$ 3,944.3
Long-term Debt, Current Maturities	1,395.0	3,622.6
Long-term Debt, Gross	0.0	0.0
Debt, Long-term and Short-term, Combined Amount	5,145.8	5,283.3
Secured Debt	3,485.1	3,622.6
Debt, Long-term and Short-term, Combined Amount	1,660.7	1,660.7
9.50% debentures due May 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount	10.4	10.4
5.75% senior notes due August 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount	610.3	610.3
8.00% debentures due March 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount	4.4	4.4
4.75% senior notes due April 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount	133.7	133.7
Five Point Five Percent Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount	387.2	387.2
2017 Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Debt	900.0	900.0
Five Point Six Two Five Percent Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount	514.7	514.7
Term Loan due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Debt	370.7	399.5
Term Loan due Sept 2024 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Debt	1,396.5	1,505.2
Ten Point Zero Percent Second Lien Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Debt	322.9	322.9
Ten Point Zero Percent First Lien Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Debt	495.0	495.0
Stated interest rate			10.00%
Secured Debt \| Term Loan due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	347.7	367.9
Secured Debt		399.5
Secured Debt \| Term Loan due Sept 2024 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	1,309.2	1,386.9
Secured Debt		1,505.2
Secured Debt \| Ten Point Zero Percent Second Lien Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate				10.00%
Debentures \| 9.50% debentures due May 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 7.7	4.2
Debt, Long-term and Short-term, Combined Amount		10.4
Stated interest rate	9.50%
Debentures \| 8.00% debentures due March 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 3.2	1.3
Debt, Long-term and Short-term, Combined Amount		4.4
Stated interest rate	8.00%
Senior Notes \| 5.75% senior notes due August 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 324.1	191.2
Stated interest rate	5.75%				5.75%
Debt, Long-term and Short-term, Combined Amount	$ 610.3	610.3
Senior Notes \| 4.75% senior notes due April 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 48.9	11.1
Debt, Long-term and Short-term, Combined Amount		133.7
Stated interest rate	4.75%					4.75%
Senior Notes \| Five Point Five Percent Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.50%
Senior Notes \| Ten Point Zero Percent Second Lien Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	10.00%
Debentures \| Five Point Five Percent Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 211.6	115.4
Debt, Long-term and Short-term, Combined Amount		387.2
Debentures \| 2017 Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	900.0	900.0
Debt, Long-term and Short-term, Combined Amount		900.0
Debentures \| Five Point Six Two Five Percent Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 279.1	158.9
Debt, Long-term and Short-term, Combined Amount		514.7
Stated interest rate	5.625%
Debentures \| Ten Point Zero Percent Second Lien Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 312.7	279.0
Debt, Long-term and Short-term, Combined Amount		322.9
Debentures \| Ten Point Zero Percent First Lien Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 523.7	528.4
Debt, Long-term and Short-term, Combined Amount		$ 495.0
Fair Value, Inputs, Level 1 [Member] \| Senior Notes \| 5.75% senior notes due August 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.75%
Fair Value, Inputs, Level 1 [Member] \| Senior Notes \| 4.75% senior notes due April 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.75%
Fair Value, Inputs, Level 1 [Member] \| Senior Notes \| Ten Point Zero Percent Second Lien Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	10.00%
Fair Value, Inputs, Level 1 [Member] \| Debentures \| Five Point Five Percent Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.50%
Fair Value, Inputs, Level 1 [Member] \| Debentures \| Five Point Six Two Five Percent Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.625%

(Schedules of Concentration of Risk) (Details)	12 Months Ended
(Schedules of Concentration of Risk) (Details)	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Distributor Concentration Risk \| Revenue from Contract with Customer Benchmark [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	26.10%	27.40%	10.20%
Distributor Concentration Risk \| Accounts Receivable Attributable to Distributors
Concentration Risk [Line Items]
Concentration risk, percentage	12.70%	18.20%
Product Concentration Risk \| Net Sales Attributable to Products \| Acthar Gel (1)
Concentration Risk [Line Items]
Concentration risk, percentage	26.90%	27.90%	30.10%
Product Concentration Risk \| Net Sales Attributable to Products \| Inomax
Concentration Risk [Line Items]
Concentration risk, percentage	20.30%	20.90%	18.10%
Product Concentration Risk \| Net Sales Attributable to Products \| Ofirmev [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		10.10%	12.10%
Product Concentration Risk \| Net Sales Attributable to Products \| Therakos
Concentration Risk [Line Items]
Concentration risk, percentage	12.10%

Segment and Geographical Data (Schedule of Segment Reporting Information by Business Segment) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Segment Reporting Information [Line Items]

Assets

$ 8,916.3

$ 9,715.4

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

2,208.8

2,213.4

$ 3,162.5

Operating income (loss)

(202.9)

(651.6)

(1,822.2)

Intangible asset amortization

(581.1)

(771.2)

(853.4)

Restructuring and related charges, net

(29.0)

(49.8)

1.7

Other Asset Impairment Charges

(154.9)

(63.5)

(388.0)

125.0

(43.4)

1,643.4

Depreciation and amortization

675.8

885.2

951.1

Restructuring and related costs, accelerated depreciation

2.1

12.3

0.0

Medicaid lawsuit (Note 19)

641.1

Employee Benefits and Share-based Compensation

(10.2)

(25.3)

(33.8)

Medicaid Lawsuit [Member]

Segment Reporting Information [Line Items]

Decrease in revenue

40.4

Sales [Member]

Segment Reporting Information [Line Items]

Medicaid lawsuit (Note 19)

^[1]

0.0

(536.0)

^[2]

0.0

Specialty Brands [Member]

Segment Reporting Information [Line Items]

Restructuring and related charges, net

(0.1)

13.7

Specialty Generics [Member]

Segment Reporting Information [Line Items]

Restructuring and related charges, net

(4.9)

(0.1)

(10.0)

Operating Segments

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

2,208.8

2,749.4

3,162.5

Operating income (loss)

920.7

1,222.1

1,378.6

Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

^[1]

1,547.0

2,059.6

2,423.8

Operating income (loss)

812.8

1,015.7

1,210.1

Depreciation and amortization

597.7

799.3

862.4

Operating Segments | Specialty Generics [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

661.8

689.8

738.7

Operating income (loss)

107.9

206.4

168.5

Depreciation and amortization

78.1

85.9

88.7

Corporate, Non-Segment

Segment Reporting Information [Line Items]

Corporate and allocated expenses

^[3]

(129.6)

(166.1)

(102.3)

Intangible asset amortization

(675.8)

(885.2)

(951.1)

Restructuring and related charges, net

(26.9)

(37.5)

1.7

Other Asset Impairment Charges

(154.9)

(63.5)

(388.0)

Separation costs

^[4]

1.2

93.4

63.9

R&D upfront payment

^[5]

0.0

(5.0)

(20.0)

(125.0)

43.4

(1,643.4)

Medicaid lawsuit (Note 19)

^[1]

$ 0.0

$ (641.1)

$ 0.0

[1]	Specialty Brands net sales for fiscal 2020 includes the prospective change to the Medicaid rebate calculation, which served to reduce Acthar Gel net sales by $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.
[2]	Excludes the $105.1 million that is reflected as a component of operating expenses as it represents a pre-acquisition contingency related to the portion of the liability that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor in August 2014. See Note 19 for further detail on the status of the Medicaid lawsuit.
[3]	Includes administration expenses and certain compensation, legal, environmental and other costs not charged to the Company's reportable segments.
[4]	Represents costs included in SG&A expenses, primarily related to professional fees and costs incurred in preparation for the Chapter 11 proceedings. As of the Petition Date, professional fees directly related to the Chapter 11 proceedings that were previously reflected as separation costs are being classified on a go-forward basis as reorganization items, net.
[5]	Represents R&D expense incurred related to an upfront payment made to acquire product rights in Japan for terlipressin during fiscal 2020 and an upfront payment made to Silence in connection with the license and collaboration agreement entered into in fiscal 2019. See Note 6 for further information.

Segment and Geographical Data (Schedule of Net Sales from External Costumers by Product) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

$ 2,208.8

$ 2,213.4

$ 3,162.5

Medicaid lawsuit (Note 19)

641.1

Sales [Member]

Segment Reporting Information [Line Items]

Medicaid lawsuit (Note 19)

^[1]

0.0

(536.0)

^[2]

0.0

Operating Segments

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

2,208.8

2,749.4

3,162.5

Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

^[1]

1,547.0

2,059.6

2,423.8

Operating Segments | Specialty Generics [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

661.8

689.8

738.7

Corporate, Non-Segment

Segment Reporting Information [Line Items]

Medicaid lawsuit (Note 19)

^[1]

0.0

(641.1)

0.0

Hydrocodone (API) and hydrocodone-containing tablets | Operating Segments | Specialty Generics [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

82.7

98.0

76.3

Oxycodone (API) and oxycodone-containing tablets | Operating Segments | Specialty Generics [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

68.5

68.4

74.9

Acetaminophen (API) | Operating Segments | Specialty Generics [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

215.9

213.0

189.9

Other controlled substances | Operating Segments | Specialty Generics [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

272.7

289.9

352.5

Acthar Gel (1) | Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

^[3]

593.6

767.9

952.7

Inomax | Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

448.5

574.1

571.4

Ofirmev | Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

28.9

276.5

384.0

Therakos | Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

266.5

238.6

246.9

Amitiza | Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

^[4]

196.9

188.8

208.5

BioVectra Inc [Member] | Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

40.1

Other Products | Operating Segments | Specialty Brands [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

^[5]

12.6

13.7

60.3

Other Products | Operating Segments | Specialty Generics [Member]

Segment Reporting Information [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

$ 22.0

$ 20.5

$ 45.1

[1]	Specialty Brands net sales for fiscal 2020 includes the prospective change to the Medicaid rebate calculation, which served to reduce Acthar Gel net sales by $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.
[2]	Excludes the $105.1 million that is reflected as a component of operating expenses as it represents a pre-acquisition contingency related to the portion of the liability that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor in August 2014. See Note 19 for further detail on the status of the Medicaid lawsuit.
[3]	Fiscal 2020 includes the prospective change to the Medicaid rebate calculation of $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.
[4]	Amitiza net sales consist of both product and royalty net sales. Refer to Note 4 for further details on Amitiza's revenues.
[5]	Fiscal 2019 includes $40.1 million of net sales related to BioVectra prior to the completion of the sale of this business in November 2019. Refer to Note 5 for further details.

Segment and Geographical Data (Schedule of Net Sales and Long-Lived Assets by Geographic Area) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

$ 2,208.8

$ 2,213.4

$ 3,162.5

Long-Lived Assets

^[1]

790.2

846.4

Medicaid lawsuit (Note 19)

641.1

Sales [Member]

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Medicaid lawsuit (Note 19)

^[2]

0.0

(536.0)

^[3]

0.0

Operating Segments

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

2,208.8

2,749.4

3,162.5

United States

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

^[4]

1,991.8

2,465.5

2,765.6

Long-Lived Assets

^[1]

629.3

676.3

EMEA

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

^[4]

181.8

227.5

281.8

Long-Lived Assets

^[1],[5]

156.2

165.5

EMEA | IRELAND

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Long-Lived Assets

154.5

164.0

Other Countries

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Net sales (includes refined estimate of the retrospective one-time charge of $536.0 related to the Medicaid lawsuit for fiscal 2020)

^[4]

35.2

56.4

$ 115.1

Long-Lived Assets

^[1]

$ 4.7

$ 4.6

[1]	Long-lived assets are primarily composed of property, plant and equipment, net.
[2]	Specialty Brands net sales for fiscal 2020 includes the prospective change to the Medicaid rebate calculation, which served to reduce Acthar Gel net sales by $40.4 million for the period from June 15, 2020 through December 25, 2020. See Note 19 for further detail on the status of the Medicaid lawsuit.
[3]	Excludes the $105.1 million that is reflected as a component of operating expenses as it represents a pre-acquisition contingency related to the portion of the liability that arose from sales of Acthar Gel prior to the Company's acquisition of Questcor in August 2014. See Note 19 for further detail on the status of the Medicaid lawsuit.
[4]	Net sales are attributed to regions based on the location of the entity that records the transaction, none of which relate to the country of Ireland.
[5]	Includes long-lived assets located in Ireland of $154.5 million and $164.0 million as of December 31, 2021 and December 25, 2020, respectively.

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 4.5	$ 4.0	$ 5.0
Charged to Operations	1.2	1.2	1.5
Additions and Other	0.0	0.0	0.0
Deductions	(1.0)	(0.7)	(2.5)
Balance at End of Period	4.7	4.5	4.0
Sales Returns and Allowances
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	235.4	337.4	405.4
Charged to Operations	2,166.0	2,154.3	2,437.7
Additions and Other	0.0	536.0	0.0
Deductions	(2,128.6)	(2,792.3)	(2,505.7)
Balance at End of Period	272.8	235.4	337.4
Tax valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	6,110.8	3,131.5	2,604.9
Charged to Operations	233.4	2,979.3	526.6
Additions and Other	0.0	0.0	0.0
Deductions	0.0	0.0	0.0
Balance at End of Period	$ 6,344.2	$ 6,110.8	$ 3,131.5

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 367,500,000