0001567892-23-000014 | 10-K | XBRL Viewer

Other income (expense), net

(536.0)

Operating loss

(316.7)

(57.8)

(202.9)

(651.6)

Interest expense

(324.3)

(108.6)

(222.6)

(261.1)

Interest income

3.9

0.6

1.9

5.9

10.0

(14.6)

22.0

7.4

Reorganization items, net

(23.2)

(630.9)

(428.2)

(61.4)

Loss from continuing operations before income taxes

(650.3)

(811.3)

(829.8)

(960.8)

(Benefit) expense from income taxes

(52.0)

(497.3)

(106.3)

8.9

Income from discontinued operations, net of tax benefit of $—, $—, $(5.0) and $(16.2)

(598.3)

(314.0)

(723.5)

(969.7)

0.2

0.9

6.1

25.1

Net loss

$ (598.1)

$ (313.1)

$ (717.4)

$ (944.6)

$ (45.43)

$ (3.70)

$ (8.54)

$ (11.48)

Earnings Per Share, Basic

0.02

0.01

0.07

0.30

$ (45.41)

$ (3.69)

$ (8.47)

$ (11.18)

Basic weighted-average shares outstanding

13.2

84.8

84.7

84.5

$ (45.43)

$ (3.70)

$ (8.54)

$ (11.48)

Earnings Per Share, Diluted

0.02

0.01

0.07

0.30

$ (45.41)

$ (3.69)

$ (8.47)

$ (11.18)

Weighted Average Number of Shares Outstanding, Diluted

13.2

84.8

84.7

84.5

Basic loss per share (Note 9):

$ (45.43)

$ (3.70)

$ (8.54)

$ (11.48)

Basic weighted-average shares outstanding

$ 0.02

$ 0.01

$ 0.07

$ 0.30

13.2

84.8

84.7

84.5

Diluted loss per share (Note 9):

$ (45.43)

$ (3.70)

$ (8.54)

$ (11.48)

Diluted weighted-average shares outstanding

0.02

0.01

0.07

0.30

Net loss

$ (45.41)

$ (3.69)

$ (8.47)

$ (11.18)

13.2

84.8

84.7

84.5

Supplemental Income Statement Elements [Abstract]

Discontinued Operation, Tax Effect of Discontinued Operation

$ 0.0

$ (5.0)

$ (16.2)

Operating Expense [Member]

0.0

(105.1)

$ 0.0

^[1]

$ 0.0

^[1]

$ (536.0)

^[1]

[1]	Specialty Brands net sales for fiscal 2020 (Predecessor) 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 (Predecessor).

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Income Statement [Abstract]
Discontinued Operation, Tax Effect of Discontinued Operation	$ 0.0	$ 0.0	$ (5.0)	$ (16.2)

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

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Consolidated Statements of Comprehensive Operations - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Currency translation adjustments	$ 2.1	$ (1.5)	$ (0.5)	$ 2.1
Net loss	(598.1)	(313.1)	(717.4)	(944.6)
Unrecognized gain on derivatives	0.0	0.0	0.0	0.4
Unrecognized gain (loss) on benefit plans	8.7	0.0	1.8	(4.2)
Total other comprehensive income (loss), net of tax	10.8	(1.5)	1.3	(1.7)
Comprehensive loss	(587.3)	(314.6)	(716.1)	(946.3)
Other comprehensive income (loss), net of tax
Currency translation adjustments	2.1	(1.5)	(0.5)	2.1
Unrecognized gain (loss) on benefit plans	8.7	0.0	1.8	(4.2)
Unrecognized gain on derivatives	0.0	0.0	0.0	0.4
Total other comprehensive income (loss), net of tax	10.8	(1.5)	1.3	(1.7)
Comprehensive loss	(587.3)	(314.6)	(716.1)	(946.3)
Retained Earnings
Net loss	$ (598.1)	$ (313.1)	$ (717.4)	$ (944.6)

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

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Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 409.5	$ 1,345.0
Accounts receivable, less allowance for doubtful accounts of $4.4 and $4.7	405.3	439.1
Inventories	947.6	347.2
Prepaid expenses and other current assets	273.4	178.3
Total current assets	2,035.8	2,309.6
Property, plant and equipment, net	457.6	776.0
Intangible assets, net	2,843.8	5,448.4
Other assets	201.1	382.3
Total Assets	6,013.8	8,916.3
Current Liabilities:
Current maturities of long-term debt	44.1	1,388.9
Accounts payable	114.0	123.0
Accrued payroll and payroll-related costs	49.5	84.6
Accrued interest	29.0	17.0
Accrued and other current liabilities	290.7	328.7
Total current liabilities	743.8	1,942.2
Pension and postretirement benefits	41.0	30.1
Environmental liabilities	35.8	43.0
Deferred income taxes	0.3	20.9
Other income tax liabilities	18.2	83.2
Other liabilities	78.4	85.8
Liabilities subject to compromise	0.0	6,397.7
Total Liabilities	4,400.1	8,602.9
Shareholders' Equity:
Ordinary shares held in treasury at cost, none and 9,569,645	0.0	(1,616.1)
Additional paid-in capital	2,191.0	5,597.8
Retained deficit	(588.2)	(3,678.9)
Accumulated other comprehensive income (loss)	10.8	(8.3)
Total Shareholders' Equity	1,613.7	313.4
Total Liabilities and Shareholders' Equity	6,013.8	8,916.3
Cash and cash equivalents	409.5	1,345.0
Accounts receivable, less allowance for doubtful accounts of $4.4 and $4.7	405.3	439.1
Inventory, Net	947.6	347.2
Prepaid expenses and other current assets	273.4	178.3
Total current assets	2,035.8	2,309.6
Property, plant and equipment, net	457.6	776.0
Intangible Assets, Net (Excluding Goodwill)	2,843.8	5,448.4
Deferred Income Tax Assets, Net	475.5	0.0
Other assets	201.1	382.3
Assets	6,013.8	8,916.3
Current maturities of long-term debt	44.1	1,388.9
Accounts Payable, Current	114.0	123.0
Accrued payroll and payroll-related costs	49.5	84.6
Accrued interest	29.0	17.0
Acthar Gel-Related Settlement liability, Current	16.5	0.0
Opioid-Related Litigation Settlement liability, Current	200.0	0.0
Accrued and other current liabilities	290.7	328.7
Total current liabilities	743.8	1,942.2
Pension and postretirement benefits	41.0	30.1
Environmental liabilities	35.8	43.0
Deferred income taxes	0.3	20.9
Other income tax liabilities	18.2	83.2
Other Liabilities, Noncurrent	78.4	85.8
Liabilities subject to compromise	0.0	6,397.7
Total Liabilities	4,400.1	8,602.9
Treasury Stock, Value	0.0	1,616.1
Additional paid-in capital	2,191.0	5,597.8
Retained deficit	(588.2)	(3,678.9)
Accumulated Other Comprehensive Income (Loss), Net of Tax	10.8	(8.3)
Shareholders' equity	1,613.7	313.4
Total Liabilities and Shareholders' Equity	6,013.8	8,916.3
Acthar Gel-Related Settlement liability, Non-current	75.0	0.0
Opioid-Related Litigation Settlement liability, Non-current	$ 379.9	0.0
Preferred shares, shares issued (in shares)	0
Predecessor Reorganization
Shareholders' Equity:
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding	$ 0.0	0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding	0.0	0.0
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding	0.0	0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding	0.0	0.0
Common Stock, Value, Outstanding	0.0	$ 18.9
Preferred shares, shares outstanding (in shares)		0
Preferred shares, shares issued (in shares)		0
Common Stock, Shares, Outstanding		84,726,590
Successor
Shareholders' Equity:
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding	0.0	$ 0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding	0.0	0.0
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding	0.0	0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding	0.0	0.0
Common Stock, Value, Outstanding	$ 0.1	$ 0.0
Preferred shares, shares outstanding (in shares)	0
Preferred shares, shares issued (in shares)	0
Common Stock, Shares, Outstanding	13,170,932

Consolidated Balance Sheets (Parenthetical) $ in Millions	Dec. 30, 2022 USD ($) $ / shares shares	Dec. 30, 2022 € / shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 € / shares
Accounts Receivable, Allowance for Credit Loss, Current \| $	$ 4.4		$ 4.7
Preferred shares, par value (in usd per share) \| $ / shares	$ 0.01
Preferred shares, shares authorized (in shares)	500,000,000
Preferred shares, shares issued (in shares)	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 held in treasury (in shares)	0		9,569,645
Successor
Preferred shares, par value (in usd per share) \| $ / shares	$ 0.01
Preferred shares, shares authorized (in shares)	500,000,000
Preferred shares, shares issued (in shares)	0
Preferred shares, shares outstanding (in shares)	0
Ordinary shares, par value (in usd per share) \| $ / shares	$ 0.01
Ordinary shares, shares authorized (in shares)	500,000,000
Ordinary shares, shares issued (in shares)	13,170,932
Ordinary shares, shares outstanding (in shares)	13,170,932
Predecessor Reorganization
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
Preferred shares, shares outstanding (in shares)			0
Ordinary shares, par value (in usd per share) \| $ / shares			$ 0.20
Ordinary shares, shares authorized (in shares)			500,000,000
Ordinary shares, shares issued (in shares)			94,296,235
Ordinary shares, shares outstanding (in shares)			84,726,590
Common Class A \| Successor
Ordinary shares, par value (in usd per share) \| $ / shares	$ 1.00
Ordinary shares, shares authorized (in shares)	40,000
Ordinary shares, shares issued (in shares)	0
Ordinary shares, shares outstanding (in shares)	0
Common Class A \| Predecessor Reorganization
Ordinary shares, par value (in usd per share) \| $ / shares			$ 1.00
Ordinary shares, shares authorized (in shares)			40,000
Ordinary shares, shares issued (in shares)			0
Ordinary shares, shares outstanding (in shares)			0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Restricted Cash and Investments, Current	$ 20.6	$ 113.0	$ 24.0	$ 20.2
Restricted Cash and Investments, Noncurrent	36.6	36.4	36.2	36.2
Cash and cash equivalents	409.5	297.9	1,345.0	1,070.6
Cash and Cash Equivalents, Including Restricted Cash	466.7	447.3	1,405.2	1,127.0
Effect of currency rate changes on cash	(1.1)	(3.9)	(1.9)	2.3
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	19.4	(957.9)	278.2	304.4
Cash Flows from Operating Activities:
Net loss	(598.1)	(313.1)	(717.4)	(944.6)
Adjustments to reconcile net cash provided by operating activities:
Depreciation and amortization	347.5	321.8	675.8	885.2
Share-based compensation	1.4	1.7	10.2	25.3
Deferred income taxes	(24.9)	(473.0)	(59.9)	385.3
Non-cash impairment charges	0.0	0.0	154.9	63.5
Losses (gains) on divestiture	0.0	0.0	(0.8)	(16.6)
Other non-cash items	16.8	35.3	(1.6)	(21.7)
Reorganization items, net	0.0	425.4	22.5	10.2
Accretion Expense	139.2	0.0	0.0	0.0
Changes in assets and liabilities, net of the effects of acquisitions:
Accounts receivable, net	(18.1)	49.8	(98.2)	37.9
Inventories	267.9	(33.2)	14.0	(51.1)
Accounts payable	8.1	(3.6)	(1.1)	15.7
Increase (Decrease) in Accrued Consulting	(90.7)	0.1	14.3	38.1
Income taxes	(30.1)	(26.9)	108.5	(433.8)
Opioid-related litigation settlement liability	0.0	0.0	125.0	0.0
Medicaid lawsuit	0.0	0.0	(4.2)	638.9
Payment of claims	0.0	(629.0)	0.0	0.0
Other	28.1	2.4	(43.4)	(133.4)
Net cash from operating activities	47.1	(642.3)	455.4	498.9
Cash Flows from Investing Activities:
Capital expenditures	(28.8)	(33.4)	(55.3)	(47.7)
Proceeds (payments) related to divestiture, net of cash	70.0	0.0	15.7	(0.7)
Other	(13.7)	0.4	(1.8)	37.2
Net cash from investing activities	27.5	(33.0)	(37.8)	(11.2)
Cash Flows from Financing Activities:
Issuance of external debt	0.0	650.0	0.0	0.0
Repayment of external debt	(50.1)	(904.6)	(137.5)	(139.5)
Debt financing costs	0.0	(24.1)	0.0	(9.4)
Other	(4.0)	0.0	0.0	(36.7)
Net Cash Provided by (Used in) Financing Activities	(54.1)	(278.7)	(137.5)	(185.6)
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	164.1	111.5	243.2	256.1
Cash paid (received) for income taxes, net	$ 3.0	$ 3.0	$ (160.0)	$ 39.9

Consolidated Statement of Changes in Shareholders' Equity Statement - USD ($) $ in Millions	Total	Ordinary Shares	Treasury Shares	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	$ (1.7)					$ (1.7)
Beginning balance, shares at Dec. 27, 2019		93,500,000	9,400,000
Beginning 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]
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	(1.5)					(1.5)
Net loss	(313.1)				(313.1)
Share-based compensation	1.7			1.7
Cancellation of Predecessor equity	(0.5)	(18.9)	1,616.1	(5,599.5)	3,992.0	9.8
Cancellation of Predecessor equity, Shares		$ (94.3)	$ (9.6)
Ending balance, shares at Jun. 16, 2022		13,200,000	0
Ending balance, value at Jun. 16, 2022	2,203.6	$ 0.1	$ 0.0	2,203.5	0.0	0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues		13,200,000
Stock Issued During Period, Value, New Issues	2,189.7	$ 0.1		2,189.6
Adjustments to Additional Paid in Capital, Warrant Issued	13.9			13.9
Beginning balance, shares at Dec. 31, 2021		94,300,000	9,600,000
Beginning balance, value at Dec. 31, 2021	313.4	$ 18.9	$ (1,616.1)	5,597.8	(3,678.9)	(8.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted shares, value			$ 0.0
Ending balance, shares at Dec. 30, 2022		13,200,000	0
Ending balance, value at Dec. 30, 2022	1,613.7	$ 0.1	$ 0.0	2,191.0	(588.2)	10.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	10.8					10.8
Beginning balance, shares at Jun. 16, 2022		13,200,000	0
Beginning balance, value at Jun. 16, 2022	2,203.6	$ 0.1	$ 0.0	2,203.5	0.0	0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(598.1)				(598.1)
Share-based compensation	1.4			1.4
Ending balance, shares at Dec. 30, 2022		13,200,000	0
Ending balance, value at Dec. 30, 2022	1,613.7	$ 0.1	$ 0.0	2,191.0	(588.2)	$ 10.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Payments for Repurchase of Warrants	$ (4.0)			$ 13.9	$ (9.9)

Background and Basis of Presentation (Notes)	12 Months Ended
Background and Basis of Presentation (Notes)	Dec. 30, 2022
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, hepatology, 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 On October 12, 2020 ("Petition Date"), Mallinckrodt plc and substantially all of its U.S. subsidiaries, including certain subsidiaries of Mallinckrodt plc operating the Specialty Generics business ("Specialty Generics Subsidiaries") and the Specialty Brands business ("Specialty Brands Subsidiaries"), and certain of the Company's international subsidiaries (together with the Company, Specialty Generics Subsidiaries and Specialty Brands Subsidiaries, the "Debtors") voluntarily initiated proceedings ("Chapter 11 Cases") under chapter 11 of title 11 ("Chapter 11") of the United States Code ("Bankruptcy Code"). On March 2, 2022, the U.S. Bankruptcy Court for the District of Delaware ("Bankruptcy Court") entered an order confirming the fourth amended plan of reorganization (with technical modifications) ("Plan"). Subsequent to the filing of the Chapter 11 Cases, Chapter 11 proceedings commenced by a limited subset of the Debtors were recognized and given effect in Canada, and separately the High Court of Ireland made an order confirming a scheme of arrangement on April 27, 2022, which is based on and consistent in all respects with the Plan ("Scheme of Arrangement"). On June 8, 2022, the Bankruptcy Court entered an order approving a minor modification to the Plan. The Plan became effective on June 16, 2022 ("Effective Date"), and on such date the Company emerged from the Chapter 11 and the Scheme of Arrangement became effective concurrently. See Note 2 for further information on the Plan and emergence from Chapter 11. Upon emergence from Chapter 11, the Company adopted fresh-start accounting in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification ("ASC") Topic 852 - Reorganizations ("ASC 852"), and became a new entity for financial reporting purposes as of the Effective Date. References to "Successor" relate to the financial position as of June 16, 2022 and results of operations of the reorganized Company subsequent to June 16, 2022, while references to "Predecessor" relate to the financial position prior to June 16, 2022 and results of operations of the Company prior to, and including, June 16, 2022. All emergence-related transactions of the Predecessor were recorded as of June 16, 2022. Accordingly, the consolidated financial statements for the Successor are not comparable to the consolidated financial statements for the Predecessor. See Note 3 for further information. The Company's significant accounting policies are described within Note 4. In connection with the adoption of fresh-start accounting, the Company elected to make an accounting policy change as described below: Predecessor Contingencies — Legal fees pertaining to asbestos-related matters were estimated and accrued as part of the Company's projected asbestos liability. Successor Contingencies — Legal fees pertaining to asbestos matters are expensed as incurred. This change in accounting policy resulted in a $22.8 million fresh-start adjustment to the asbestos-related liability and a $20.3 million adjustment to the corresponding indemnification receivable as of the Effective Date. Also in connection with the adoption of fresh-start accounting, the Company made a change in estimate related to the Specialty Generics segment inventory turn calculation. This prospective change is expected to result in the discrete amortization of $20.5 million of capitalized variances through the first quarter of fiscal 2023. The amount recognized for the period June 17, 2022 through December 30, 2022 (Successor) was $19.9 million. The Company also reassessed and updated its product line net sales presentation for its Specialty Generics segment. Beginning with the Quarterly Report on Form 10-Q for the quarterly period ended July 1, 2022 (Successor), the Company's consolidated financial statements reflect the updated product line net sales structure for its Specialty Generics segment. Prior year amounts have been recast to conform to current 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. Certain prior-period amounts on the consolidated financial statements have been reclassified to conform to current-period presentation. Fiscal Year The Company reports its results based on a "52-53 week" year ending on the last Friday of December. The period June 17, 2022 through December 30, 2022 reflects the Successor period, while the period January 1, 2022 through, and including, June 16, 2022 reflects the Predecessor period. Fiscal year ended December 31, 2021 (Predecessor) ("fiscal 2021") consisted of 53 weeks, while the combined periods of January 1, 2022 through June 16, 2022 and June 17, 2022 through December 30, 2022 ("fiscal 2022") and fiscal year ended December 25, 2020 (Predecessor) ("fiscal 2020") consisted of 52 weeks.

Reorganizations

12 Months Ended

Dec. 30, 2022

Reorganization under Chapter 11 of US Bankruptcy Code Disclosure [Text Block]


2.			Emergence from Voluntary Reorganization

During the pendency of the Chapter 11 Cases, the Debtors operated 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 were authorized to continue to operate as ongoing businesses, and were allowed to pay all debts and honor all obligations arising in the ordinary course of their businesses after the Petition Date. However, the Debtors were not allowed to 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, were subject to an automatic stay. See Plan of Reorganization section below for the distributions to creditors and interest holders.

Plan of Reorganization

In accordance with the effectuated Plan, the following significant transactions occurred upon the Company's emergence from bankruptcy on the Effective Date:

Resolution of Opioid-Related Claims.

Pursuant to the Plan and the Scheme of Arrangement, on the Effective Date all opioid claims against the Company and its subsidiaries were deemed to have been settled, discharged, waived, released and extinguished in full against the Company and its subsidiaries, and the Company and its subsidiaries ceased to have any liability or obligation with respect to such claims, which were treated in accordance with the Plan as follows:

◦Opioid claims were channeled to certain trusts, which will receive $1,725.0 million in deferred payments from the Company and certain of its subsidiaries ("Opioid-Related Litigation Settlement") consisting of (i) a $450.0 million payment upon the Effective Date (of which $2.6 million was prefunded); (ii) a $200.0 million payment upon each of the first and second anniversaries of the Effective Date; (iii) a $150.0 million payment upon each of the third through seventh anniversaries of the Effective Date; and (iv) a $125.0 million payment upon the eighth anniversary of Effective Date (collectively, the "Opioid Deferred Payments") with the Company retaining an eighteen-month option to prepay outstanding Opioid Deferred Payments (other than the initial Effective Date payment) at a discount (and to prepay the Opioid Deferred Payments at their undiscounted value even after the expiration of such eighteen-month period). The Opioid Deferred Payments are unsecured and are guaranteed by Mallinckrodt and its subsidiaries that are borrowers, issuers or guarantors under the Takeback Term

Loans and the New 1L Notes, Existing 1L Notes, New 2L Notes and Takeback 2L Notes (such notes collectively, the "Effective Date Notes") (except for the Effective Date Notes), and certain future indebtedness (subject to certain exceptions). The Opioid Deferred Cash Payments Agreement contains affirmative and negative covenants (including an obligation to offer to pay the Opioid Deferred Payments without discount upon the occurrence of certain change of control triggering events) and events of default (subject in certain cases to customary grace and cure periods). The occurrence of an event of default under the Opioid Deferred Cash Payments Agreement could result in the required repayment of all outstanding Opioid Deferred Payments and could cause a cross-default that could result in the acceleration of certain indebtedness of Mallinckrodt and its subsidiaries.

•Opioid claimants also received, in addition to other potential consideration, 3,290,675 warrants for approximately 19.99% of the reorganized Company’s new outstanding shares, with a nominal value $0.01 per share ("Ordinary Share(s)"), 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 Effective Date, at a strike price of $103.40 per Ordinary Share ("Opioid Warrant(s)").

•Pursuant to the Plan, certain subsidiaries of the Company will remain subject to an agreed-upon operating injunction with respect to the operation of their opioid business.

Governmental Acthar Gel Settlement

Pursuant to the Plan and the Scheme of Arrangement, on the Effective Date, all claims of the U.S. Department of Justice ("DOJ") and other governmental parties relating to Acthar® Gel (repository corticotropin injection) ("Acthar Gel") against the Company were deemed to have been settled, discharged, waived, released and extinguished in full against the Company, and the Company ceased to have any liability or obligation with respect to such claims, which were treated in accordance with the Plan and the terms of the settlement that is summarized below:

•The Company entered into an agreement with the DOJ and other governmental parties to settle a range of litigation matters and disputes relating to Acthar Gel ("Acthar Gel-Related Settlement") including a 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 principally relating to interactions of Acthar Gel's previous owner (Questcor Pharmaceuticals Inc. ("Questcor")) with an independent charitable foundation. To implement the Acthar Gel-Related Settlement, the Company entered into two settlement agreements with the U.S. and certain relators. Under the Acthar Gel-Related Settlement, which was conditioned upon the Company commencing its Chapter 11 proceeding and provided for the distributions the applicable claimants received under the Plan, the Company will 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. The $260.0 million in payments consists of (i) a $15.0 million payment upon the Effective Date; (ii) a $15.0 million payment upon the first anniversary of the Effective Date; (iii) a $20.0 million payment upon each of the second and third anniversaries of the Effective Date; (iv) a $32.5 million payment upon each of the fourth and fifth anniversaries of the Effective Date; and (v) a $62.5 million payment upon the sixth and seventh anniversaries of Effective Date. Also in connection with the Acthar Gel-Related Settlement, the Company entered into (a) separate settlement agreements with certain states, the Commonwealth of Puerto Rico, the District of Columbia and the above-noted relators, which further implement the Acthar Gel-Related Settlement, and (b) a five-year corporate integrity agreement ("CIA") with the Office of Inspector General ("OIG") of the U.S. Department of Health and Human Services ("HHS") in March 2022. As a result of these agreements, upon effectiveness of the Acthar Gel-Related Settlement in connection with the effectiveness of the Plan, the U.S. Government has dropped its demand for approximately $640 million in retrospective Medicaid rebates for Acthar Gel and agreed to dismiss the FCA lawsuit in Boston and the EDPA FCA lawsuit. Similarly, state and territory Attorneys General have also dropped related lawsuits. In turn, the Company has dismissed its appeal of the U.S. District Court for the District 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 Circuit ("D.C. Circuit").

•Mallinckrodt has entered into the 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.

•In accordance with the effectuated Acthar Gel-Related Settlement, on June 28, 2022, the Bankruptcy Court entered an order dismissing the federal government's FCA lawsuit with prejudice, and further ordered the related state lawsuits dismissed without prejudice.

•In accordance with the effectuated Acthar Gel-Related Settlement, on July 20, 2022, the court entered an order dismissing the EDPA FCA lawsuit with prejudice.

Satisfaction of Existing Term Loans and Repayment of Existing Revolver

On the Effective Date and pursuant to the Plan, Mallinckrodt International Finance S.A. ("MIFSA") and Mallinckrodt CB LLC ("MCB" and together with MIFSA, the "Issuers"), each of which is a subsidiary of the Company, entered into a senior secured term

loan facility with an aggregate principal amount of $1,392.9 million ("2017 Replacement Term Loans") and a senior secured term loan facility with an aggregate principal amount of $369.7 million ("2018 Replacement Term Loans", and together with the 2017 Replacement Term Loan, the "Takeback Term Loans"). Pursuant to the Plan and Scheme of Arrangement, on the Effective Date, lenders holding allowed claims in respect of the existing senior secured term loans due September 2024 ("2024 Term Loans") and senior secured term loans due February 2025 ("2025 Term Loans" and, together with the 2024 Term Loans, the "Existing Term Loans") incurred by the Issuers received their pro rata share of the 2017 Replacement Term Loans (in the case of the 2024 Term Loans) or the 2018 Replacement Term Loans (in the case of the 2025 Term Loans) and payment in cash of an exit fee equal to 1.00% of the remaining principal amount of Existing Term Loans held by such lenders in satisfaction thereof.

Pursuant to the Plan and Scheme of Arrangement, on the Effective Date, lenders’ allowed claims in respect of the existing $900.0 million senior secured revolving credit facility ("Existing Revolver") incurred by the Issuers and certain of their respective subsidiaries were paid in full in cash.

Reinstatement of Existing 10.00% First Lien Senior Secured Notes due 2025

On the Effective Date and pursuant to the Plan and the Scheme of Arrangement, the Issuers’ existing 10.00% First Lien Senior Secured Notes due 2025 ("Existing 1L Notes") in an aggregate principal amount of $495.0 million and the note documents relating thereto were reinstated. In addition, pursuant to the terms of the indenture governing the Existing 1L Notes, the Issuers, Mallinckrodt plc and the subsidiary guarantors of the Existing 1L Notes entered into a supplemental indenture, dated of the Effective Date ("Existing 1L Notes Indenture"), pursuant to which certain additional assets were added to the collateral securing the Existing 1L Notes and the guarantees thereof.

Satisfaction of 10.00% Second Lien Senior Secured Notes due 2025

Pursuant to the Plan and Scheme of Arrangement, on the Effective Date, lenders holding allowed claims in respect of the Issuers’ existing 10.00% second lien senior secured notes due 2025 ("Existing 2L Notes") in an aggregate principal amount of $322.9 million received their pro rata share of a like aggregate principal amount of new 10.00% second lien senior secured notes due 2025 ("New 2L Notes") in satisfaction thereof.

Discharge of Mallinckrodt's Guaranteed Unsecured Notes

Pursuant to the Plan and Scheme of Arrangement, on the Effective Date, holders of allowed claims in respect of the Issuers' 5.75% Senior Notes due 2022, the 5.625% Senior Notes due 2023 and the 5.50% Senior Notes due 2025 ("Guaranteed Unsecured Notes") received their pro rata share of $375.0 million aggregate principal amount of new 10.00% second lien senior secured notes due 2029 ("Takeback 2L Notes") and 100% of the new 13,170,932 Ordinary Shares issued, subject to dilution by the Opioid Warrants described above and the management incentive plan. Otherwise, pursuant to the Plan and the Scheme of Arrangement, all claims in respect of the Guaranteed Unsecured Notes and the indentures governing them were settled, discharged, waived, released and extinguished in full.

Resolution of Other Remaining Claims

Pursuant to the Plan and Scheme of Arrangement, on the Effective Date, certain trade claims and other general unsecured claims, including the claims of holders of the 4.75% senior notes due April 2023, against the Debtors were deemed to have been settled, discharged, waived, released and extinguished in full, and Mallinckrodt ceased to have any liability or obligation with respect to such claims, which were then treated in accordance with the Plan and Scheme of Arrangement, which provided for the holders of such claims to share in $135.0 million in cash, plus other potential consideration, including but not limited to 35.0% of the proceeds of the sale of the StrataGraft® (allogenic cultured keratinocytes and dermal fibroblasts in murine collagen - dsat) ("StrataGraft") Priority Review Voucher ("PRV") and $20.0 million payable upon the achievement of (1) U.S. Food and Drug Administration ("FDA") approval of Terlivaz® (terlipressin) ("Terlivaz") and (2) cumulative net sales of $100.0 million of Terlivaz.

On June 30, 2022, subsequent to the Effective Date, the Company completed the sale of its PRV for $100.0 million and received net proceeds of $65.0 million as the buyer remitted the remaining $35.0 million to the General Unsecured Claims Trustee pursuant to the terms of (i) the Plan, and (ii) that certain General Unsecured Claims Trust Agreement entered into in connection with the Plan.

New Warrant Agreement

On the Effective Date and pursuant to the Plan, Mallinckrodt entered into a warrant agreement and issued 3,290,675 Opioid Warrants to purchase the Ordinary Shares to MNK Opioid Abatement Fund, LLC ("Initial Holder"), a wholly owned subsidiary of the Opioid Master Disbursement Trust II, a master disbursement trust established in accordance with the Plan. Each Opioid Warrant was initially exercisable for one Ordinary Share at an initial exercise price of $103.40 per Ordinary Share ("Exercise Price"), subject to the cashless exercise provisions contained in the warrant agreement. The Opioid Warrants were exercisable from the date of issuance until the sixth anniversary of the Effective Date. The warrant agreement governing the Opioid Warrants contained customary anti-dilution adjustments in the event of any share dividends, share splits, distributions, issuance of additional shares or options, or certain other dilutive events.

Warrant Termination Agreement

On December 8, 2022, the Company, the Initial Holder and Opioid Master Disbursement Trust II entered into an agreement to accelerate the expiration date of the Opioid Warrants and to terminate the warrant agreement in exchange for a payment by the Company of $4.0 million to the Initial Holder ("Warrant Termination Agreement"). At the closing of the transactions contemplated by the Warrant Termination Agreement, which also occurred on December 8, 2022, the Company and the warrant agent entered into an amendment to the warrant agreement that accelerated the expiration of the Opioid Warrants to such date. As a result of such expiration, the Opioid Warrants were cancelled and each of the warrant agreement and the registration rights agreement that were entered into on the Effective date terminated in accordance with its terms.

Exit Financing

On the Effective Date, the Company issued $650.0 million aggregate principal amount of new 11.50% First Lien Senior Secured Notes due 2028 ("New 1L Notes") and entered into a receivables financing facility based on a borrowing base with a maximum draw of up to $200.0 million. See Note 14 for further information on these debt instruments.

Financing

Predecessor 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 predecessor senior secured credit facilities, lenders under the Existing Revolver and the Existing Term Loans and holders of the Existing 1L Notes and the Existing 2L Notes) permitting the use of cash collateral to finance the Chapter 11 Cases.

Such order required that the Company make cash adequate protection payments on the Existing Revolver and Existing 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 Interbank Offered Rate ("LIBOR"), plus (2) the contract-specified applicable margin, and plus (3) an incremental 200 basis points), quarterly amortization payments on the Existing Term Loans and reimbursement of certain costs. Such order further required that the Company make cash adequate protection payments on the Existing 1L Notes and Existing 2L 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 Existing Term Loans. The cash collateral order expired on June 16, 2022.

Interest expense incurred and paid with respect to the incremental adequate protection payments of 200 basis points and 250 basis points on the Existing Revolver and Existing Term Loans, respectively, were as follows:


	Predecessor
		Period from January 1, 2022 through June 16. 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Interest expense incurred for adequate protection payments		$	28.8	$	63.1	$	11.7
Cash paid for adequate protection payments		28.8		66.7		7.8

Contractual interest

While the Chapter 11 Cases were pending, the Company was not accruing interest on its unsecured debt instruments as of the Petition Date on a go-forward basis as the Debtors did 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 contractually due under the Company's unsecured debt instruments, which the Company did not pay as the obligation was extinguished pursuant to the Plan, was $46.5 million, $93.0 million and $28.8 million for the period January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor), respectively.


3.			Fresh-start Accounting

The Company qualified for and adopted fresh-start accounting as of the Effective Date in accordance with ASC 852 as (i) the reorganization value of the assets of the Company immediately prior to the date of effectuation of the Plan was less than the post-petition liabilities and allowed claims and (ii) the holders of the voting shares of the Predecessor immediately before effectuation of the Plan received less than 50% of the voting shares of the Successor.

Reorganization Value

Reorganization value represents the fair value of the Successor Company's total assets and is intended to approximate the amount a willing buyer would pay for the assets immediately after restructuring. Upon the application of fresh-start accounting, the Company allocated the reorganization value to its individual assets based on their estimated fair values in accordance with ASC Topic 805 - Business Combinations. Deferred income tax amounts were determined in accordance with ASC Topic 740 - Income Taxes.

As set forth in the disclosure statement approved by the Bankruptcy Court, the estimated enterprise value of the Successor was estimated to be between $5,200.0 million and $5,700.0 million, with a midpoint of $5,450.0 million, which was estimated with the assistance of third-party valuation advisors using various valuation methods, including (i) discounted cash flow analysis, a calculation of the present value of the future cash flows to be generated by the business based on its projection, and (ii) comparable public company analysis, a method to estimate the value of a company relative to other publicly traded companies with similar operation and financial characteristics. The estimated enterprise value per the disclosure statement included estimated equity value in a range between $563.0 million and $1,063.0 million, with a midpoint of $813.0 million. Subsequent to the filing of the disclosure statement, the Company made revisions to certain of the cash flow projections due to declines in projected operating performance. Based upon a reevaluation of relevant factors used in determining the range of enterprise value and updated expected cash flow projections, the Company concluded the enterprise value, or fair value, was $5,223.0 million.

The basis of the discounted cash flow analysis used in developing the enterprise value was based on Company prepared projections that included a variety of estimates and assumptions. While the Company considers such estimates and assumptions reasonable, they are inherently subject to significant business, economic and competitive uncertainties, many of which are beyond the Company’s control and, therefore, may not be realized. Changes in these estimates and assumptions may have had a significant effect on the determination of the Company’s enterprise value.

The following table reconciles the enterprise value to the implied fair value of the Successor's equity as of the Effective Date:


Enterprise value	$	5,223.0
Plus: Enterprise value adjustments (1)	197.0
Adjusted enterprise value	5,420.0
Plus: Cash and cash equivalents	297.9
Plus: Non-operating assets, net (2)	178.7
Less: Fair value of debt	(3,067.2)
Less: Fair value of Opioid-Related Litigation Settlement, Acthar Gel-Related Settlement, StrataGraft PRV proceeds and Terlivaz contingent value rights	(625.8)
Successor equity value	$	2,203.6

(1)Represents incremental tax benefits not contemplated in the projections utilized in the disclosure statement.

(2)Represents non-operating assets and liabilities which were excluded from the enterprise value as put forth in the disclosure statement as there were no cash projections associated with these net assets.

Upon the application of fresh-start accounting, the Company allocated the reorganization value to its individual assets based on their estimated fair values. Reorganization value represents the fair value of the Successor’s assets before considering liabilities.

The following table reconciles the Company's enterprise value to its reorganization value as of the Effective Date:


Adjusted enterprise value	$	5,420.0
Plus: Cash and cash equivalents	297.9
Plus: Non-operating assets, net	178.7
Plus: Current liabilities (excluding debt or debt-like items)	522.5
Plus: Other non-current liabilities (excluding debt or debt-like items)	183.2
Reorganization value of Successor assets	$	6,602.3

Consolidated Balance Sheet

The four-column consolidated balance sheet as of the Effective Date included herein, applies effects of the Plan (reflected in the column "Reorganization Adjustments") and fresh-start accounting (reflected in the column "Fresh-Start Adjustments") to the carrying values and classifications of assets or liabilities. Upon adoption of fresh-start accounting, the recorded amounts of assets and liabilities were adjusted to reflect their estimated fair values. Accordingly, the reported historical financial statements of the Predecessor prior to the adoption of fresh-start accounting for periods ended on or prior to the Effective Date are not comparable to those of the Successor. The explanatory notes highlight methods used to determine fair values or other amounts of the assets and liabilities as well as significant assumptions.

The four-column consolidated balance sheet as of June 16, 2022 is as follows:


	Predecessor		Reorganization Adjustments			Fresh-Start Adjustments			Successor
Assets
Current Assets:
Cash and cash equivalents	$	1,392.6	$	(1,094.7)	(a)	$	—		$	297.9
Accounts receivable, less allowance for doubtful accounts	387.4		—			—			387.4
Inventories	375.2		—			851.8		(q)	1,227.0
Prepaid expenses and other current assets	322.6		75.3		(b)	(58.3)		(r)	339.6
Current asset held for sale	—		—			100.0		(j)	100.0
Total current assets	2,477.8		(1,019.4)			893.5			2,351.9
Property, plant and equipment, net	748.6		—			(299.2)		(s)	449.4
Intangible assets, net	5,166.6		—			(2,014.4)		(t)	3,152.2
Deferred income taxes	—		—			453.4		(l)	453.4
Other assets	222.8		(3.9)		(c)	(23.5)		(u)	195.4
Total Assets	$	8,615.8	$	(1,023.3)		$	(990.2)		$	6,602.3

Liabilities and Shareholders' Equity
Current Liabilities:
Current maturities of long-term debt	$	1,389.9	$	(1,355.2)	(d)	$	—		$	34.7
Accounts payable	156.4		(53.8)		(e)	—			102.6
Accrued payroll and payroll-related costs	71.4		—			—			71.4
Accrued interest	20.8		(13.0)		(f)	—			7.8
Acthar Gel-Related Settlement	—		16.5		(g)	—			16.5
Opioid-Related Litigation Settlement	—		200.0		(h)	—			200.0
Accrued and other current liabilities	296.1		50.8		(i)	(6.1)		(v)	340.8
Current liability held for sale	—		35.0		(j)	—			35.0
Total current liabilities	1,934.6		(1,119.7)			(6.1)			808.8
Long-term debt	—		3,050.9		(d)	(18.4)		(w)	3,032.5
Acthar Gel-Related Settlement	—		63.2		(g)	—			63.2
Opioid-Related Litigation Settlement liability	—		304.3		(h)	—			304.3
Pension and postretirement benefits	27.6		27.2		(k)	—			54.8
Environmental liabilities	37.1		—			—			37.1
Deferred income taxes	20.4		102.7		(l)	(121.7)		(l)	1.4
Other income tax liabilities	75.9		—			(61.9)		(x)	14.0
Other liabilities	68.6		23.6		(m)	(9.6)		(v)	82.6
Liabilities subject to compromise	6,402.7		(6,402.7)		(n)	—			—
Total Liabilities	8,566.9		(3,950.5)			(217.7)			4,398.7
Shareholders' Equity:
Predecessor preferred shares	—		—			—			—
Predecessor ordinary A shares	—		—			—			—
Predecessor ordinary shares	18.9		(18.9)		(o)	—			—
Successor ordinary shares	—		0.1		(o)	—			0.1
Predecessor ordinary shares held in treasury	(1,616.1)		1,616.1		(o)	—			—
Predecessor additional paid-in capital	5,599.5		(5,599.5)		(o)	—			—
Successor additional paid-in capital	—		2,203.5		(o)	—			2,203.5
Predecessor accumulated other comprehensive loss	(9.9)		—			9.9		(y)	—
Retained (deficit) earnings	(3,943.5)		4,725.9		(p)	(782.4)		(z)	—
Total Shareholders' Equity	48.9		2,927.2			(772.5)			2,203.6
Total Liabilities and Shareholders' Equity	$	8,615.8	$	(1,023.3)		$	(990.2)		$	6,602.3

Reorganization Adjustments

(a)The table below reflects the sources and uses of cash on the Effective Date:


Sources:
Proceeds from New 1L Notes	$	637.0
Total Sources	637.0
Uses:
Payment of Predecessor revolving credit facility	(900.0)
Upfront payment of the Opioid-Related Litigation Settlement	(447.4)
Upfront payment of the Acthar Gel-Related Settlement, inclusive of settlement interest	(17.8)
Payment of secured, administrative, priority and trade claims	(26.2)
Payment of professional fees	(43.5)
Payment to fund professional fees escrow (prepaid and other current assets restricted cash)	(89.0)
Payment of general unsecured claims	(135.0)
Payment of noteholder consent fees	(19.3)
Payment of costs, fees and expenses related to exit-financing activities, an exit fee associated with senior secured loans and accrued and unpaid interest on certain pre-emergence debt	(53.5)
Total Uses	(1,731.7)
Net Uses of Cash	$	(1,094.7)

(b)Represents the transfer of funds to a restricted cash account for purposes of funding the $89.0 million professional fee reserve offset by the release of a $10.9 million prepaid success fee as a result of emergence from bankruptcy and the write off of prepaid expenses related to premiums for the Predecessor Company's directors' and officers' insurance policy.

(c)Debt issuance costs of $2.6 million related to entering into a receivables financing facility. These costs were capitalized as other non-current assets as the facility was undrawn as of June 16, 2022. Refer to Note 14 for further information on the receivables financing facility. Also reflects a write-off of $6.5 million of prepaid expenses related to premiums for the Predecessor Company's directors' and officers' insurance policy.

(d)Impacts to long-term debt, net of current maturities, pursuant to the Plan, include the following:

•Repayment of the $900.0 million Existing Revolver;

•Issuance of the 2017 and 2018 Replacement Term Loans of $1,392.9 million and $369.7 million, respectively, of which $34.7 million was current;

•Issuance of the New 2L Notes of $322.9 million;

•Issuance of the Takeback 2L Notes of $375.0 million;

•Reinstatement of the Existing 1L Notes of $495.0 million principal, net of $5.1 million deferred financing fees; and

•Issuance of $650.0 million New IL Notes, net of a $13.0 million original issuance discount and $9.7 million of deferred debt issuance costs.

Fair value adjustments to the carrying value of debt instruments impacted by the Plan as determined by the Black-Derman-Toy model as follows:


2017 Replacement Term Loan	$	(169.4)
2018 Replacement Term Loan	(42.2)
New 2L Notes	(95.7)
Takeback 2L Notes	(184.8)
Total fair value adjustment to debt instruments	$	(492.1)

Predecessor debt for certain of these instruments described above were classified in liabilities subject to compromise ("LSTC") as of the Effective Date.

(e)Represents $43.5 million of professional fees paid to the Company’s restructuring advisors upon the Company's emergence from Chapter 11 bankruptcy and $25.2 million of secured, administrative and priority payments, partially offset by $14.6 million of professional advisor success fees incurred on the Effective Date plus reinstatement of LSTC.

(f)Represents payments of accrued interest on the Company's Existing Revolver, Existing Term Loans and Existing 2L Notes in accordance with the cash collateral order on the Effective Date.

(g)Pursuant to the Plan, the Company agreed to pay $260.0 million to the DOJ and other parties over seven years to settle the Acthar Gel-related matters. The Company reduced its estimated allowed claim amount related to these matters to the settlement amount of $260.0 million and reclassified it from LSTC to other non-current liabilities. On the Effective Date, the Company made an upfront payment of $17.8 million, inclusive of settlement interest. The remaining deferred cash payments of $245.0 million and related settlement interest were recorded at fair value utilizing a discounted cash flow model with an average credit-adjusted discount rate of 27.8%. The fair value of the liability was $16.5 million and $63.2 million, respectively, reflected within current and other non-current liabilities in the above table.

(h)Pursuant to the Plan, the Company agreed to pay $1,725.0 million into certain trusts to resolve all opioid claims, and made an upfront payment of $447.4 million on the Effective Date. The remaining deferred cash payments of $1,275.0 million were recorded at fair value utilizing the Black-Derman-Toy model, which incorporates the option to prepay as well as other inputs such as an average credit-adjusted discount rate of 27.8%. The fair value of the liability was $200.0 million and $304.3 million, respectively, reflected within current and other non-current liabilities in the above table.

(i)The following table reconciles reorganization adjustments to accrued and other current liabilities:


Severance - Exiting Chief Executive Officer ("CEO")	$	5.7
Reinstatement of various successor obligations from LSTC	15.4
Success fees for professionals incurred on Effective Date	29.7
	$	50.8

(j)As part of fresh-start accounting, the Company recorded a $100.0 million intangible asset in relation to the Company's PRV that was awarded under an FDA program intended to encourage the development of certain product applications for therapies used to treat or prevent material threat medical countermeasures. It also recorded a $35.0 million liability related to the proceeds from a sale of the PRV which is due to the general unsecured claims trustee pursuant to the term of the Plan and the general unsecured claims trust agreement entered into with the Plan. As of the Effective Date, this asset and liability were classified as held-for-sale. Refer to Note 13 for further information on the subsequent sale of the PRV.

(k)Reinstatement of certain long-term pension and other postretirement plans from LSTC to other liabilities.

(l)Reflects reorganization adjustments consisting of (1) the reduction in federal and state net operating loss ("NOL") carryforwards from cancellation of debt income ("CODI") realized upon emergence from bankruptcy and limitations under Sections 382 and 383 of the U.S. Internal Revenue Code of 1986 ("IRC"); (2) the net decrease in deferred tax assets resulting from reorganization adjustments; (3) the reduction in the valuation allowance on the Company's deferred tax assets and fresh-start adjustments consisting of (4) the net decrease in deferred tax liabilities resulting from fresh-start adjustments; and (5) the release of uncertain tax positions that are no longer required upon emergence from bankruptcy.

(m)Reinstatement of the Company's $16.8 million asbestos-related defense costs from LSTC to other liabilities and establishment of a liability for the contingent value right ("CVR") associated with Terlivaz in accordance with the Plan and Scheme of Arrangement. The CVR is based upon the achievement of a cumulative net sales milestone. The Company will assess the likelihood of and timing of making such payment at each balance sheet date. The fair value of the contingent payment was measured based on the net present value of a probability-weighted assessment estimated using a Monte Carlo simulation. The Company determined the fair value of the CVR to be $6.8 million as of the Effective Date.

(n)LSTC were settled as follows in accordance with the Plan (in millions):


Liabilities subject to compromise
Accounts payable	$	17.7
Accrued interest	35.2
Debt	3,746.2
Environmental liabilities	67.2
Acthar Gel-Related Settlement liability	630.0
Opioid-Related Litigation Settlement liability	1,722.4
Other current and non-current liabilities	151.6
Pension and postretirement benefits	32.4
Total liabilities subject to compromise	$	6,402.7

To be reinstated on the Effective Date:
Accounts payable	$	(0.1)

Other current and non-current liabilities	(27.3)
Pension and postretirement benefits	(32.4)
Total liabilities reinstated	$	(59.8)

Consideration provided to settle amounts per the Plan
Issuance of Successor common stock	$	(2,189.7)
Issuance of Opioid Warrants	(13.9)
Issuance of Takeback Term Loans and New 2L Notes	(1,778.3)
Acthar Gel-Related Settlement liability	(79.7)
Opioid-Related Litigation Settlement liability	(504.3)
Issuance of Takeback 2L Notes to holders of the Guaranteed Unsecured Notes	(190.2)
Contingent liabilities for proceeds of sale of StrataGraft PRV and Terlivaz CVR	(41.8)
Cash payment	(601.3)
Total consideration provided to settle amounts per the Plan	$	(5,399.2)

Gain on settlement of liabilities subject to compromise	$	943.7

(o)Pursuant to the Plan, as of the Effective Date, all Predecessor's preferred and ordinary shares were cancelled without any distribution. The following table reconciles reorganization adjustments made to Successor common stock, Opioid Warrants and additional paid in capital:


Par value of 13,170,932 shares of Successor Common Stock issued to former holders of the Guaranteed Unsecured Notes (par valued at $0.01 dollars per share)	$	0.1
Fair value of Opioid Warrants issued to holders of the Guaranteed Unsecured Notes (1)	13.9
Additional paid in capital - Successor Common Stock	2,189.6
Successor equity	$	2,203.6

(1)The fair value of the Opioid Warrants was estimated using a Black-Scholes model with the following assumptions: $18.50 stock price of the Successor Company; exercise price per share of $103.40; expected volatility of 62.28%; risk free interest rate of 3.34%, continuously compounded; and a holding period of six years. The expected volatility assumption is based on the historical and implied volatility of the Company's peer group with similar business models.

(p)Retained deficit - The cumulative effect of the consummation of the Plan on the Predecessor's retained deficit is as follows:


Gain on settlement of LSTC	$	943.7
Professional, success and exit fees	(91.6)
Release of prepaid success fee	(10.9)
Release of prepaid insurance (1)	(9.2)
Accrual of severance for former CEO	(5.7)
Income tax expense on plan adjustments	(102.7)
Cancellation of Predecessor equity	4,002.3
Net impact on retained deficit	$	4,725.9

(1) Write off of prepaid expenses related to premiums for the Predecessor Company's directors' and officers' insurance policy.

Fresh-Start Adjustments

(q)Reflects the fair value adjustment related to the Company's inventory. Both the bottom-up and top-down approach were used. The bottom-up approach considers the inventory value that had been created by the Company including the costs incurred, profit realized, and tangible and intangible assets used pre-Effective Date. The top-down approach measures the incremental inventory value created by the market participant buyer as part of its selling effort to an end customer and considers the costs that will be incurred, the profit that will be realized, and the tangible and intangible assets that will be used post-Effective Date.

(r)Reflects the reduction of $54.0 million in prepaid income taxes due to remeasurement as a result of fresh-start accounting. Also reflects a write-off of $4.3 million of asbestos indemnification receivable affiliated with asbestos-related defense costs in line with the Company's accounting policy change as outlined in Note 1.

(s)Reflects the fair value adjustment related to the Company's property, plant and equipment. Both the market and cost approaches were utilized to fair value land and buildings. The cost approach was utilized to fair value capitalized software and machinery and equipment. Construction in process was reported at its cost less adjustments for economic obsolescence.

(t)Reflects the fair value adjustment related to the Company's intangible assets. The fair value of the completed technology and in-process research and development ("IPR&D") intangible assets were determined using the income approach. The cash flows were discounted commensurate with the level of risk associated with each asset or its projected cash flows. The valuation used discount rates ranging from 13.0% through 15.0%, depending on the asset. The IPR&D discount rate was developed after assigning a probability of success to achieving the projected cash flows based on the current stages of development, inherent uncertainty in the FDA approval process and risks associated with commercialization of a new product. See Note 13 for further information on intangible assets.

(u)Reflects the write-off of (i) $16.0 million of asbestos indemnification receivable affiliated with asbestos-related defense costs in line with the Company's accounting policy change as outlined in Note 1; (ii) $3.9 million of spare parts that did not meet the Company's capitalization threshold; and (iii) $1.1 million of third party debt issuance costs. Also reflects a decrease of $0.9 million to income tax receivables associated with a change in uncertain tax positions as a result of fresh-start accounting.

In addition, the Company’s lease obligations were revalued using the incremental borrowing rate applicable to the Company upon emergence from the Chapter 11 proceedings and commensurate with its new capital structure. The incremental borrowing rate used in the revaluation of the lease obligations increased from 8.85% in the Predecessor period to 11.83% in the Successor period. The revaluation of lease obligations includes the adjustment for contract-based off-market intangibles for favorable or unfavorable terms to the right-of-use assets as well as the removal of right-of-use assets (and affiliated lease liabilities) associated with the Company’s leases with a remaining contract term of less than one year as of the Effective Date. The revaluation resulted in a reduction in the right-of-use asset of $1.6 million.

(v)Reflects the write-off of (i) $6.1 million and $16.7 million of current and non-current asbestos-related defense costs, respectively, in line with the Company's accounting policy change as outlined in Note 1; and (ii) an adjustment of $6.9 million to increase the Company's total lease liabilities as a result of the revaluation of the lease obligations as described in footnote (t) above.

(w)Reflects the write-off of $5.1 million of unamortized debt issuance costs and a $23.5 million fair value adjustment to debt principal as determined by the Black-Derman-Toy model related to the reinstated Existing 1L Notes.

(x)Reflects the reduction of liabilities for unrecognized tax benefits that are no longer required upon emergence from bankruptcy.

(y)Reflects the fair value adjustment to eliminate the accumulated other comprehensive income of $8.1 million related to pension benefits and $2.1 million of currency translation adjustment, partially offset by the elimination of $0.3 million of income tax effects, which resulted in income tax benefit of $0.3 million.

(z)The cumulative effect of the fresh-start accounting on the Successor's retained deficit is as follows:


Fresh-start adjustment:
Inventories	$	851.8
Property, plant and equipment, net	(299.2)
Intangible assets, net	(2,014.4)
Current asset held for sale	100.0
Debt	18.4
Other assets and liabilities	(11.2)
Total fresh-start adjustments impacting reorganization items, net	(1,354.6)
Fresh-start adjustments to accumulated other comprehensive income, net of $0.3 million of tax benefit	(9.9)
Total fresh-start adjustments recorded to income tax benefit	582.1
Net fresh-start impact to accumulated deficit	$	(782.4)

Reorganization items, net

Reorganization items, net, for the Predecessor represent amounts incurred after the Petition Date but prior to emergence from bankruptcy as a direct result of the Chapter 11 Cases and were comprised of gains and losses associated with the reorganization, primarily the loss on fresh-start adjustments, gain on settlement of LSTC, bankruptcy-related professional fees, debt financing fees and write-off of debt issuance costs and related unamortized premiums and discounts. Successor reorganization items, net represent amounts incurred after the Effective Date that directly resulted from Chapter 11 and were entirely comprised of professional fees associated with the implementation of the Plan. Cash paid for reorganization items, net for the period from June 17, 2022 through December 30, 2022 (Successor), January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor) were $18.4 million, $304.1 million, $333.1 million, and $8.7 million, respectively. Reorganization items, net, were comprised of the following:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Gain on settlements of LSTC	$	—	$	(943.7)	$	—	$	—
Loss on fresh-start adjustments	—		1,354.6		—		—
Professional and other service provider fees	23.2		161.1		405.6		51.1
Success fees for professional service providers	—		44.3		—		—
Write off of prepaid premium for directors and officers' insurance policies	—		9.2		—		—
Debt valuation adjustments	—		—		23.1		10.2
Adjustments of other claims	—		5.4		(0.5)		0.1

Total reorganization items, net	$	23.2	$	630.9	$	428.2	$	61.4

Fresh-Start Accounting

12 Months Ended

Dec. 30, 2022

Summary of Significant Accounting Policies

Fresh-Start Accounting


2.			Emergence from Voluntary Reorganization

Plan of Reorganization

In accordance with the effectuated Plan, the following significant transactions occurred upon the Company's emergence from bankruptcy on the Effective Date:

Resolution of Opioid-Related Claims.

•Pursuant to the Plan, certain subsidiaries of the Company will remain subject to an agreed-upon operating injunction with respect to the operation of their opioid business.

Governmental Acthar Gel Settlement

•In accordance with the effectuated Acthar Gel-Related Settlement, on July 20, 2022, the court entered an order dismissing the EDPA FCA lawsuit with prejudice.

Satisfaction of Existing Term Loans and Repayment of Existing Revolver

Reinstatement of Existing 10.00% First Lien Senior Secured Notes due 2025

Satisfaction of 10.00% Second Lien Senior Secured Notes due 2025

Discharge of Mallinckrodt's Guaranteed Unsecured Notes

Resolution of Other Remaining Claims

New Warrant Agreement

Warrant Termination Agreement

Exit Financing

Financing

Predecessor Chapter 11 Financing


	Predecessor
		Period from January 1, 2022 through June 16. 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Interest expense incurred for adequate protection payments		$	28.8	$	63.1	$	11.7
Cash paid for adequate protection payments		28.8		66.7		7.8

Contractual interest


3.			Fresh-start Accounting

Reorganization Value

The following table reconciles the enterprise value to the implied fair value of the Successor's equity as of the Effective Date:


Enterprise value	$	5,223.0
Plus: Enterprise value adjustments (1)	197.0
Adjusted enterprise value	5,420.0
Plus: Cash and cash equivalents	297.9
Plus: Non-operating assets, net (2)	178.7
Less: Fair value of debt	(3,067.2)
Less: Fair value of Opioid-Related Litigation Settlement, Acthar Gel-Related Settlement, StrataGraft PRV proceeds and Terlivaz contingent value rights	(625.8)
Successor equity value	$	2,203.6

(1)Represents incremental tax benefits not contemplated in the projections utilized in the disclosure statement.

The following table reconciles the Company's enterprise value to its reorganization value as of the Effective Date:


Adjusted enterprise value	$	5,420.0
Plus: Cash and cash equivalents	297.9
Plus: Non-operating assets, net	178.7
Plus: Current liabilities (excluding debt or debt-like items)	522.5
Plus: Other non-current liabilities (excluding debt or debt-like items)	183.2
Reorganization value of Successor assets	$	6,602.3

Consolidated Balance Sheet

The four-column consolidated balance sheet as of June 16, 2022 is as follows:


	Predecessor		Reorganization Adjustments			Fresh-Start Adjustments			Successor
Assets
Current Assets:
Cash and cash equivalents	$	1,392.6	$	(1,094.7)	(a)	$	—		$	297.9
Accounts receivable, less allowance for doubtful accounts	387.4		—			—			387.4
Inventories	375.2		—			851.8		(q)	1,227.0
Prepaid expenses and other current assets	322.6		75.3		(b)	(58.3)		(r)	339.6
Current asset held for sale	—		—			100.0		(j)	100.0
Total current assets	2,477.8		(1,019.4)			893.5			2,351.9
Property, plant and equipment, net	748.6		—			(299.2)		(s)	449.4
Intangible assets, net	5,166.6		—			(2,014.4)		(t)	3,152.2
Deferred income taxes	—		—			453.4		(l)	453.4
Other assets	222.8		(3.9)		(c)	(23.5)		(u)	195.4
Total Assets	$	8,615.8	$	(1,023.3)		$	(990.2)		$	6,602.3

Liabilities and Shareholders' Equity
Current Liabilities:
Current maturities of long-term debt	$	1,389.9	$	(1,355.2)	(d)	$	—		$	34.7
Accounts payable	156.4		(53.8)		(e)	—			102.6
Accrued payroll and payroll-related costs	71.4		—			—			71.4
Accrued interest	20.8		(13.0)		(f)	—			7.8
Acthar Gel-Related Settlement	—		16.5		(g)	—			16.5
Opioid-Related Litigation Settlement	—		200.0		(h)	—			200.0
Accrued and other current liabilities	296.1		50.8		(i)	(6.1)		(v)	340.8
Current liability held for sale	—		35.0		(j)	—			35.0
Total current liabilities	1,934.6		(1,119.7)			(6.1)			808.8
Long-term debt	—		3,050.9		(d)	(18.4)		(w)	3,032.5
Acthar Gel-Related Settlement	—		63.2		(g)	—			63.2
Opioid-Related Litigation Settlement liability	—		304.3		(h)	—			304.3
Pension and postretirement benefits	27.6		27.2		(k)	—			54.8
Environmental liabilities	37.1		—			—			37.1
Deferred income taxes	20.4		102.7		(l)	(121.7)		(l)	1.4
Other income tax liabilities	75.9		—			(61.9)		(x)	14.0
Other liabilities	68.6		23.6		(m)	(9.6)		(v)	82.6
Liabilities subject to compromise	6,402.7		(6,402.7)		(n)	—			—
Total Liabilities	8,566.9		(3,950.5)			(217.7)			4,398.7
Shareholders' Equity:
Predecessor preferred shares	—		—			—			—
Predecessor ordinary A shares	—		—			—			—
Predecessor ordinary shares	18.9		(18.9)		(o)	—			—
Successor ordinary shares	—		0.1		(o)	—			0.1
Predecessor ordinary shares held in treasury	(1,616.1)		1,616.1		(o)	—			—
Predecessor additional paid-in capital	5,599.5		(5,599.5)		(o)	—			—
Successor additional paid-in capital	—		2,203.5		(o)	—			2,203.5
Predecessor accumulated other comprehensive loss	(9.9)		—			9.9		(y)	—
Retained (deficit) earnings	(3,943.5)		4,725.9		(p)	(782.4)		(z)	—
Total Shareholders' Equity	48.9		2,927.2			(772.5)			2,203.6
Total Liabilities and Shareholders' Equity	$	8,615.8	$	(1,023.3)		$	(990.2)		$	6,602.3

Reorganization Adjustments

(a)The table below reflects the sources and uses of cash on the Effective Date:


Sources:
Proceeds from New 1L Notes	$	637.0
Total Sources	637.0
Uses:
Payment of Predecessor revolving credit facility	(900.0)
Upfront payment of the Opioid-Related Litigation Settlement	(447.4)
Upfront payment of the Acthar Gel-Related Settlement, inclusive of settlement interest	(17.8)
Payment of secured, administrative, priority and trade claims	(26.2)
Payment of professional fees	(43.5)
Payment to fund professional fees escrow (prepaid and other current assets restricted cash)	(89.0)
Payment of general unsecured claims	(135.0)
Payment of noteholder consent fees	(19.3)
Payment of costs, fees and expenses related to exit-financing activities, an exit fee associated with senior secured loans and accrued and unpaid interest on certain pre-emergence debt	(53.5)
Total Uses	(1,731.7)
Net Uses of Cash	$	(1,094.7)

(d)Impacts to long-term debt, net of current maturities, pursuant to the Plan, include the following:

•Repayment of the $900.0 million Existing Revolver;

•Issuance of the 2017 and 2018 Replacement Term Loans of $1,392.9 million and $369.7 million, respectively, of which $34.7 million was current;

•Issuance of the New 2L Notes of $322.9 million;

•Issuance of the Takeback 2L Notes of $375.0 million;

•Reinstatement of the Existing 1L Notes of $495.0 million principal, net of $5.1 million deferred financing fees; and

•Issuance of $650.0 million New IL Notes, net of a $13.0 million original issuance discount and $9.7 million of deferred debt issuance costs.

Fair value adjustments to the carrying value of debt instruments impacted by the Plan as determined by the Black-Derman-Toy model as follows:


2017 Replacement Term Loan	$	(169.4)
2018 Replacement Term Loan	(42.2)
New 2L Notes	(95.7)
Takeback 2L Notes	(184.8)
Total fair value adjustment to debt instruments	$	(492.1)

Predecessor debt for certain of these instruments described above were classified in liabilities subject to compromise ("LSTC") as of the Effective Date.

(f)Represents payments of accrued interest on the Company's Existing Revolver, Existing Term Loans and Existing 2L Notes in accordance with the cash collateral order on the Effective Date.

(i)The following table reconciles reorganization adjustments to accrued and other current liabilities:


Severance - Exiting Chief Executive Officer ("CEO")	$	5.7
Reinstatement of various successor obligations from LSTC	15.4
Success fees for professionals incurred on Effective Date	29.7
	$	50.8

(k)Reinstatement of certain long-term pension and other postretirement plans from LSTC to other liabilities.

(n)LSTC were settled as follows in accordance with the Plan (in millions):


Liabilities subject to compromise
Accounts payable	$	17.7
Accrued interest	35.2
Debt	3,746.2
Environmental liabilities	67.2
Acthar Gel-Related Settlement liability	630.0
Opioid-Related Litigation Settlement liability	1,722.4
Other current and non-current liabilities	151.6
Pension and postretirement benefits	32.4
Total liabilities subject to compromise	$	6,402.7

To be reinstated on the Effective Date:
Accounts payable	$	(0.1)

Other current and non-current liabilities	(27.3)
Pension and postretirement benefits	(32.4)
Total liabilities reinstated	$	(59.8)

Consideration provided to settle amounts per the Plan
Issuance of Successor common stock	$	(2,189.7)
Issuance of Opioid Warrants	(13.9)
Issuance of Takeback Term Loans and New 2L Notes	(1,778.3)
Acthar Gel-Related Settlement liability	(79.7)
Opioid-Related Litigation Settlement liability	(504.3)
Issuance of Takeback 2L Notes to holders of the Guaranteed Unsecured Notes	(190.2)
Contingent liabilities for proceeds of sale of StrataGraft PRV and Terlivaz CVR	(41.8)
Cash payment	(601.3)
Total consideration provided to settle amounts per the Plan	$	(5,399.2)

Gain on settlement of liabilities subject to compromise	$	943.7


Par value of 13,170,932 shares of Successor Common Stock issued to former holders of the Guaranteed Unsecured Notes (par valued at $0.01 dollars per share)	$	0.1
Fair value of Opioid Warrants issued to holders of the Guaranteed Unsecured Notes (1)	13.9
Additional paid in capital - Successor Common Stock	2,189.6
Successor equity	$	2,203.6

(p)Retained deficit - The cumulative effect of the consummation of the Plan on the Predecessor's retained deficit is as follows:


Gain on settlement of LSTC	$	943.7
Professional, success and exit fees	(91.6)
Release of prepaid success fee	(10.9)
Release of prepaid insurance (1)	(9.2)
Accrual of severance for former CEO	(5.7)
Income tax expense on plan adjustments	(102.7)
Cancellation of Predecessor equity	4,002.3
Net impact on retained deficit	$	4,725.9

(1) Write off of prepaid expenses related to premiums for the Predecessor Company's directors' and officers' insurance policy.

Fresh-Start Adjustments

(x)Reflects the reduction of liabilities for unrecognized tax benefits that are no longer required upon emergence from bankruptcy.

(z)The cumulative effect of the fresh-start accounting on the Successor's retained deficit is as follows:


Fresh-start adjustment:
Inventories	$	851.8
Property, plant and equipment, net	(299.2)
Intangible assets, net	(2,014.4)
Current asset held for sale	100.0
Debt	18.4
Other assets and liabilities	(11.2)
Total fresh-start adjustments impacting reorganization items, net	(1,354.6)
Fresh-start adjustments to accumulated other comprehensive income, net of $0.3 million of tax benefit	(9.9)
Total fresh-start adjustments recorded to income tax benefit	582.1
Net fresh-start impact to accumulated deficit	$	(782.4)

Reorganization items, net


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Gain on settlements of LSTC	$	—	$	(943.7)	$	—	$	—
Loss on fresh-start adjustments	—		1,354.6		—		—
Professional and other service provider fees	23.2		161.1		405.6		51.1
Success fees for professional service providers	—		44.3		—		—
Write off of prepaid premium for directors and officers' insurance policies	—		9.2		—		—
Debt valuation adjustments	—		—		23.1		10.2
Adjustments of other claims	—		5.4		(0.5)		0.1

Total reorganization items, net	$	23.2	$	630.9	$	428.2	$	61.4

Summary of Significant Accounting Policies

12 Months Ended

Dec. 30, 2022

Accounting Policies [Abstract]


4.			Summary of Significant Accounting Policies

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; and the amount of transaction price allocated to the performance obligations that are unsatisfied at period end is generally expected to be satisfied within one year.

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

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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Shipping costs	$	13.9	$	12.8	$	23.6	$	20.1

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 income (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 amortized according to the pattern in which the economic benefit of the asset is used up over their estimated useful lives, as shown below. The estimated useful lives of the Company's intangible assets as of December 30, 2022 (Successor) were the following:


Completed technology	3	to	20 years

Amortization expense related to completed technology and certain other intangible assets is included in cost of sales.

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 all other legal proceedings, all 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 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.

Liabilities Subject to Compromise

As a result of the commencement of the Chapter 11 Cases, the payment of pre-petition liabilities was subject to compromise or other treatment pursuant to a plan of reorganization. The determination of how liabilities would ultimately be settled or treated could not be made until the confirmed Chapter 11 plan of reorganization became effective. Accordingly, the ultimate amount of such liabilities was not determinable prior to the Effective Date. Pre-petition liabilities that were subject to compromise were reported at the amounts that were expected to be allowed by the Bankruptcy Court, even if they may be settled for different amounts. The amounts classified as LSTC prior to the Effective Date were preliminary and were subject to future adjustments dependent upon 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.

Share-Based Compensation

The Company recognizes the cost of employee services received in exchange for awards of equity or liability-based 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). The cost for liability-based instruments is remeasured accordingly each reporting period throughout the requisite service 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 financial reporting 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 realized on the uncertain tax position, an income tax liability or a reduction to a deferred tax asset ("contra-DTA(s)") 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. The Company adjusts these liabilities and contra-DTAs as a result of changing facts and circumstances; however, 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. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer


5.			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

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


	Rebates and Chargebacks (1)		Product Returns		Other Sales Deductions		Total
Balance as of December 27, 2019 (Predecessor)	$	295.8	$	28.4	$	13.2	$	337.4
Provisions	2,065.9		28.9		59.5		2,154.3
Provision for Medicaid lawsuit (2)	536.0		—		—		536.0
Payments or credits	(2,701.2)		(30.7)		(60.4)		(2,792.3)
Balance as of December 25, 2020 (Predecessor)	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 (Predecessor)	241.8		21.5		9.5		272.8
Provisions	693.4		5.2		17.1		715.7
Payments or credits	(684.6)		(8.1)		(18.9)		(711.6)
Balance as of June 16, 2022 (Predecessor)	$	250.6	$	18.6	$	7.7	$	276.9


Balance as of June 17, 2022 (Successor)	$	250.6	$	18.6	$	7.7	$	276.9
Provisions	804.4		7.0		36.7		848.1
Payments or credits	(789.7)		(9.6)		(31.7)		(831.0)
Balance as of December 30, 2022 (Successor)	$	265.3	$	16.0	$	12.7	$	294.0

(1)Includes $89.3 million and $49.6 million of accrued Medicaid and $55.3 million and $30.4 million of accrued rebates as of December 30, 2022 and December 31, 2021, respectively, included within accrued and other current liabilities in the consolidated balance sheets.

(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.

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Product sales transferred at a point in time	83.0	%	80.8	%	79.4	%	78.9	%
Product sales transferred over time	17.0		19.2		20.6		21.1

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 30, 2022 (Successor):


Fiscal 2023	$	115.4
Fiscal 2024	23.5
Thereafter	2.7

Costs to fulfill a contract

As of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), 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 $10.3 million and $25.8 million, respectively. The associated depreciation expense recognized during the period from June 17, 2022 through December 30, 2022 (Successor), the period from January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor) was $1.0 million, $2.9 million, $6.1 million and $5.5 million, respectively.

Product Royalty Revenues

The Company licensed certain rights to Amitiza to third parties in exchange for royalties on net sales of the product. The Company received 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 recognized such royalty revenue as the related sales occurred. The associated royalty revenue recognized was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Royalty revenue	$	36.2	$	34.9	$	102.4	$	70.3

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

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
-SubTopic 10
-Section 50
-Paragraph 9
-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
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-Section 50
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-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
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-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

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations (Notes)

12 Months Ended

Dec. 30, 2022

Disposal Groups, Including Discontinued Operations, Disclosure


6.			Discontinued Operations and Divestitures

Discontinued Operations

Nuclear Imaging: The Company received a total of $9.0 million in contingent consideration in fiscal 2020 (Predecessor) 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 (Predecessor). 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 (Predecessor) and fiscal 2020 (Predecessor), a tax benefit of $5.1 million and $18.1 million, respectively, 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.

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 (Predecessor), the Company recorded a $16.5 million gain on divestiture related to certain commercial milestones for the Recothrom product.

Restructuring and Related Charges

12 Months Ended

Dec. 30, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Related Charges


7.			Restructuring and Related Charges

During fiscal 2021 (Predecessor), fiscal 2018 (Predecessor) and fiscal 2016 (Predecessor), the Company launched restructuring programs designed to improve its cost structure, neither of which has a specified time period. 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. The 2021 program will commence upon substantial completion of the 2018 program, and has not commenced as of December 30, 2022 (Successor). 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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Specialty Brands	$	—	$	—	$	0.1	$	0.1
Specialty Generics	0.8		3.5		4.9		0.1
Corporate	11.3		6.1		24.0		49.6
Restructuring and related charges, net	12.1		9.6		29.0		49.8
Less: accelerated depreciation	(1.0)		—		(2.1)		(12.3)
Restructuring charges, net	$	11.1	$	9.6	$	26.9	$	37.5

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
2018 Program	$	12.1	$	9.6	$	29.0	$	52.0
2016 Program	—		—		—		(0.3)
Acquisition programs	—		—		—		(1.9)
Total programs	12.1		9.6		29.0		49.8
Less: non-cash charges, including accelerated depreciation	(2.2)		(3.6)		(6.3)		(23.8)
Total charges expected to be settled in cash	$	9.9	$	6.0	$	22.7	$	26.0

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 27, 2019 (Predecessor)	$	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 (1)	(10.0)		—		—		(10.0)
Currency translation and other	0.2		(0.3)		1.9		1.8
Balance as of December 25, 2020 (Predecessor)	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 (Predecessor)	10.9		—		—		10.9
Charges from continuing operations	7.1		—		—		7.1
Changes in estimate from continuing operations	(1.1)		—		—		(1.1)
Cash payments	(15.9)		—		—		(15.9)


Balance as of June 16, 2022 (Predecessor)	$	1.0	$	—	$	—	$	1.0


Balance as of June 17, 2022 (Successor)	$	1.0	$	—	$	—	$	1.0
Charges from continuing operations	12.7		—		—		12.7
Changes in estimate from continuing operations	(2.8)		—		—		(2.8)
Cash payments	(6.3)		—		—		(6.3)


Balance as of December 30, 2022 (Successor)	$	4.6	$	—	$	—	$	4.6

(1)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 30, 2022 (Successor), net restructuring and related charges incurred cumulative to date for the 2018 Program were as follows:


	Successor		Predecessor

Specialty Brands	$	—	$	3.1
Specialty Generics	0.8		18.5
Corporate	11.3		84.0
	$	12.1	$	105.6

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. 31, 2021

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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Domestic	$	(359.4)	$	(2,883.3)	$	(512.2)	$	(656.9)
International	(290.9)		2,072.0		(317.6)		(303.9)
Total	$	(650.3)	$	(811.3)	$	(829.8)	$	(960.8)

(1) Domestic reflects Ireland.

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Current:
Domestic	$	(32.8)	$	33.7	$	(33.7)	$	0.1
International	5.7		(57.6)		(12.7)		(375.4)
Current income tax (benefit) provision	(27.1)		(23.9)		(46.4)		(375.3)
Deferred:
Domestic	(44.6)		(82.3)		(59.5)		102.2
International	19.7		(391.1)		(0.4)		282.0
Deferred income tax (benefit) provision	(24.9)		(473.4)		(59.9)		384.2
Total	$	(52.0)	$	(497.3)	$	(106.3)	$	8.9

(1) Domestic reflects Ireland.

The domestic current income tax provision reflects a tax benefit of $7.9 million, $4.1 million, $2.2 million, and $0.2 million from using NOL carryforwards for the period from June 17, 2022 through December 30, 2022 (Successor), the period from January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor), and fiscal 2020 (Predecessor), respectively. The international current income tax provision reflects a tax benefit of $61.0 million, $0.1 million, $1.2 million, and $33.4 million from using NOL carryforwards for the period from June 17, 2022 through December 30, 2022 (Successor), the period from January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor), and fiscal 2020 (Predecessor), respectively. The fiscal 2020 (Predecessor) 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 the period from June 17, 2022 through December 30, 2022 (Successor) and the period from January 1, 2022 through June 16, 2022 (Predecessor), net cash payments for income taxes were $3.0 million and $3.0 million, respectively. During fiscal 2021 (Predecessor) net cash refunds for income taxes were $160.0 million and fiscal 2020 (Predecessor) net cash payments for income taxes were $39.9 million. 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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Benefit for income taxes at domestic statutory income tax rate (1)	$	(81.3)	$	(101.4)	$	(103.7)	$	(120.1)
Adjustments to reconcile to income tax provision:
Rate difference between domestic and international jurisdictions	(4.7)		226.5		(224.9)		(315.3)
Adjustments to accrued income tax liabilities and uncertain tax positions (2)	—		—		(9.7)		16.7


Credits, principally research and orphan drug	—		(0.9)		(4.7)		(11.2)

Permanently nondeductible and nontaxable items (3)	3.1		(1.7)		9.8		2.8
Emergence	—		(31.6)		—		—
Withholding tax on Swiss distribution	4.7		—		—		—
U.S. Tax Reform (4)	—		—		—		(281.5)
Legal entity reorganization (5)	—		—		—		82.0
Separation costs	—		—		—		8.4
Reorganization items, net	1.7		15.7		36.9		8.8
Other	(1.4)		(3.1)		0.3		0.1
Valuation allowances (6)	25.9		(600.8)		189.7		618.2
(Benefit) provision for income taxes	$	(52.0)	$	(497.3)	$	(106.3)	$	8.9

(1)The statutory tax rate reflects the Irish statutory tax rate of 12.5%.

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

(3)For fiscal 2021 (Predecessor), the permanently nondeductible and nontaxable item were primarily driven by the opioid-related litigation settlement loss.

(4)For fiscal 2020 (Predecessor), the Company recognized a tax benefit as a result of the CARES Act. Associated unrecognized tax benefit and valuation allowance are netted within this line.

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

(6)Fiscal 2020 (Predecessor) includes a tax expense of $204.9 million for an increase to the valuation allowance on certain net deferred tax assets that were no longer more likely than not realizable due to the Company's former substantial doubt about its ability to continue as a going concern. Additional valuation allowance impacts are netted within other line items, as referenced in the associated footnotes.

The Successor Company’s rate difference between domestic and international jurisdictions was $4.7 million of tax benefit for the period from June 17, 2022 through December 30, 2022 (Successor). The rate difference between domestic and international jurisdictions was primarily related to $19.7 million of tax benefit attributable to inventory step-up amortization expense, $8.9 million of tax benefit attributable to accretion expense associated with our settlement liabilities and $6.3 million of tax benefit attributable to accretion expense associated with our debt offset by $30.2 million of tax expense predominately attributable to the pretax earnings in various jurisdictions.

The Predecessor Company’s rate difference between domestic and international jurisdictions was $226.5 million of tax expense for the period from January 1, 2022, through June 16, 2022 (Predecessor). The rate difference between domestic and international jurisdictions was primarily related to $128.9 million of tax expense related to fresh-start adjustments, $103.4 million of tax expense attributable to gain on adjustments to LSTC and $12.8 million of tax expense predominately related to the pretax earnings in various jurisdictions offset by $18.6 million of tax benefit related to professional and lender fees.

As a result of the Plan, the Company recognized CODI on its indebtedness, resulting in the utilization of, and reduction to, certain of its tax losses and tax credits in the U.S. and Luxembourg. The emergence from Chapter 11 bankruptcy proceedings resulted in a change in ownership for purposes of IRC Section 382, causing the remaining U.S. tax losses and credits to be limited under IRC Sections 382 and 383. The Company also recognized a U.S. capital loss as a result of the Plan, which may be carried forward to offset capital gains recognized by the Company in the next five years, to the extent it is not reduced by CODI or limited under IRC section 382 or 383. The deferred tax asset associated with the capital loss carryforward is offset by a valuation allowance due to significant uncertainty regarding the Company’s ability to utilize the carryforward prior to its expiration. The portion of deferred tax assets associated with the tax losses and credits that are limited under IRC Section 382 or 383, and that have a remote possibility of being utilized, have been written off. The Plan's tax effect, and impacts on the Company's tax losses and credits, is expected to be finalized when the associated U.S. Federal income tax return is filed in 2023. Refer to Note 4 for further information regarding the Company's income tax accounting policies.

During the period from January 1, 2022 through June 16, 2022 (Predecessor), the Company recognized a tax benefit of $31.6 million upon emergence from Chapter 11 bankruptcy. These impacts of emergence consist of a $1,202.0 million tax benefit related to the revaluation of net deferred tax assets as a result of fresh-start accounting and a $285.3 million tax benefit related to the release of uncertain tax positions, offset by $1,209.8 million of tax expense for the reduction in federal and state NOL carryforwards

from the CODI realized upon emergence from bankruptcy and limitations under IRC Sections 382 and 383, $191.9 million of tax expense related to permanently nondeductible impacts on fair value adjustments, and $54.0 million of tax expense related to prepaid income taxes.

During the period from January 1, 2022 through June 16, 2022 (Predecessor), the Company recognized a tax benefit of $600.8 million related to valuation allowances, consisting of $512.1 million of tax benefit for the reduction in the valuation allowance on the Company's deferred tax assets due to the alleviation of the previous substantial doubt about the Company’s ability to continue as a going concern and $88.7 million of tax benefit which 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 changed to $224.9 million of tax benefit for fiscal 2021 (Predecessor) from $315.3 million of tax benefit for fiscal 2020 (Predecessor). 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 (Predecessor) 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 (Predecessor), compared to $618.2 million for fiscal 2020 (Predecessor). 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 (Predecessor) 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 following table summarizes the activity related to the Company's unrecognized tax benefits, excluding interest:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Balance at beginning of period	$	24.8	$	333.5	$	349.0	$	398.6
Additions related to current year tax positions	—		—		—		71.1
Additions related to prior period tax positions	—		—		9.3		9.8
Reductions related to prior period tax positions	—		(306.1)		(2.8)		(14.2)

Settlements	—		(2.6)		(0.2)		(80.3)
Lapse of statutes of limitations	—		—		(21.8)		(36.0)
Balance at end of period	$	24.8	$	24.8	$	333.5	$	349.0

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


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Other assets (1)	$	—	$	255.7
Deferred income tax asset	9.4		—
Other income tax liabilities	15.4		64.1
Deferred income tax liability	—		13.7
	$	24.8	$	333.5

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

Total unrecognized tax benefits ("UTB(s)") of $24.8 million as of both December 30, 2022 (Successor) and June 16, 2022 (Predecessor), if favorably settled, would benefit the effective tax rate. Total UTBs of $77.0 million and $85.9 million as of December 31, 2021 (Predecessor) and December 25, 2020 (Predecessor), respectively, if favorably settled, would benefit the effective tax rate with the remaining reflected as a write-off of related other tax assets. During the period January 1, 2022 through June 16, 2022 (Predecessor), the decrease of $306.1 million primarily resulted from fresh-start adjustments. During fiscal 2021 (Predecessor) and 2020 (Predecessor), 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. The Company recorded an increase to accrued

interest and penalties of $0.6 million during the period from June 17, 2022 through December 30, 2022 (Successor) and a net decrease of $16.7 million during the period from January 1, 2022 through June 16, 2022 (Predecessor). Interest and penalties activity during fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor), was a net increase of $2.2 million and a net decrease of $16.2 million, respectively. The total amount of accrued interest and penalties related to uncertain tax positions was $2.8 million and $18.9 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively.

Within the next twelve months, the unrecognized tax benefits and the related interest and penalties are not expected to significantly increase or decrease.

Certain of the Company's subsidiaries continue to be subject to examination by taxing authorities. The earliest open years subject to examination for the U.S. federal, U.S. state and other jurisdictions, including Ireland, Japan, Luxembourg, Switzerland and the U.K. is 2013.

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


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Accrued and other current liabilities	$	3.6	$	1.7
Other income tax liabilities	18.2		83.2
	$	21.8	$	84.9

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


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Other assets	$	—	$	141.3
Prepaid expenses and other current assets	179.5		36.5
	$	179.5	$	177.8

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:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Deferred tax assets:


Tax loss and credit carryforward	$	3,646.0	$	4,147.5
Capital tax loss carryforward and related assets	1,412.6		1,605.0
Intangible assets	278.4		—
Opioid-Related Litigation Settlement liability	111.7		294.7
Excess interest	84.0		159.5
Other	159.8		292.2
	5,692.5		6,498.9
Deferred tax liabilities:

Intangible assets	—		(108.5)

Investment in partnership	(67.4)		(67.1)
Other	(157.0)		—
	(224.4)		(175.6)
Net deferred tax asset before valuation allowances	5,468.1		6,323.3
Valuation allowances	(4,992.9)		(6,344.2)
Net deferred tax asset (liability)	$	475.2	$	(20.9)

The net deferred tax asset before valuation allowances was $5,468.1 million as of December 30, 2022 (Successor), compared to $6,323.3 million as of December 31, 2021 (Predecessor). This decrease consists of $904.5 million of a decrease related to fresh-start activity and $72.8 million of a net decrease associated with payments and accretion on the opioid-related litigation settlement offset by a $61.5 million increase associated with amortization on intangible assets and a $60.6 million increase predominately related to tax loss and other operational activity. The $904.5 million decrease related to fresh-start activity consists of (i) CODI realized upon emergence from bankruptcy and limitations under IRC Sections 382 and 383 which resulted in reductions to tax loss and credit carryforward, capital tax loss carryforward, and excess interest deferred tax assets; (ii) fair value adjustments which resulted in

reductions to the opioid-related litigation settlement liability deferred tax assets and intangible asset deferred tax liabilities, and increases to other deferred tax liabilities and (iii) increases to certain deferred tax assets due to the release of uncertain tax positions.

The deferred tax asset valuation allowances were $4,992.9 million and $6,344.2 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively. The valuation allowance as of December 30, 2022 (Successor) relates primarily to the uncertainty of the utilization of certain deferred tax assets, driven by domestic and international net operating and capital losses, credits, and intangible assets. As of December 30, 2022 (Successor), due to the alleviation of the previous substantial doubt about the Company’s ability to continue as a going concern, the associated valuation allowances were released through fresh-start accounting at emergence. The valuation allowance as of December 31, 2021 (Predecessor) was related 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.

Deferred taxes were included in the following consolidated balance sheet captions in the amounts shown:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Deferred income tax asset	$	475.5	$	—
Deferred income tax liability	(0.3)		(20.9)
Net deferred tax asset (liability)	$	475.2	$	(20.9)

As of December 30, 2022 (Successor), the Company had approximately $3,600.6 million of NOL carryforwards in certain international jurisdictions measured at the applicable statutory rates, of which $1,532.4 million have no expiration and the remaining $2,068.2 million will expire in future years through 2043. As of December 30, 2022 (Successor), the Company had $43.5 million of domestic NOL carryforwards measured at the applicable statutory rates, which have no expiration date.

As of December 30, 2022 (Successor), the Company had $8.7 million of capital loss carryforwards in certain international jurisdictions measured at the applicable statutory rates, which will expire in 2027. As of December 30, 2022 (Successor), 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 30, 2022 (Successor), the Company had $1.9 million of tax credits available to reduce future income taxes payable, in international jurisdictions, which will expire in future years through 2043.

As of December 30, 2022 (Successor), the Company's taxable financial reporting basis in subsidiaries exceeded its corresponding tax basis by $3.1 million. Such excess amount is indefinitely reinvested and it is not practicable to determine the associated potential tax liability due to the complexity of the Company's legal entity structure as well as the timing, extent, and nature of any hypothetical realization.

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.

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

Earnings (Loss) per Share [Abstract]

Earnings (Loss) per Share

12 Months Ended

Dec. 30, 2022

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):

Successor

Predecessor

Period from
June 17, 2022
through
December 30, 2022

Period from
January 1, 2022
through
June 16, 2022

Year Ended December 31, 2021

Year Ended December 25, 2020

Basic

13.2

84.8

84.7

84.5

The computation of diluted weighted-average shares outstanding for the periods June 17, 2022 through December 30, 2022 (Successor), the period January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor) excluded approximately zero, 0.5 million, 5.2 million and 5.6 million, respectively, shares of equity awards because the effect would have been anti-dilutive.

Inventories

12 Months Ended

Dec. 30, 2022

Inventory, Net [Abstract]

Inventories


10.			Inventories

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


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Raw materials	$	80.2	$	59.8
Work in process	552.1		196.4
Finished goods	315.3		91.0
Inventories	$	947.6	$	347.2

Property, Plant and Equipment

12 Months Ended

Dec. 30, 2022

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:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Land	$	51.0	$	43.5
Buildings	127.2		387.8
Capitalized software	17.5		121.1
Machinery and equipment	216.8		1,254.1
Construction in process	72.5		80.1
	485.0		1,886.6
Less: accumulated depreciation	(27.4)		(1,110.6)
Property, plant and equipment, net	$	457.6	$	776.0

Depreciation expense was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Depreciation expense	$	28.8	$	40.0	$	94.7	$	114.0

Leases (Notes)

12 Months Ended

Dec. 30, 2022

Leases [Abstract]

Lessee, Operating Leases


12.			Leases

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


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Other assets	$	38.1	$	35.0

Accrued and other current liabilities	$	10.3	$	11.1
Other liabilities	30.4		20.0
Other current and non-current liabilities subject to compromise	—		0.4
Total lease liabilities	$	40.7	$	31.5

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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Lease cost:
Operating lease cost	$	7.9	$	8.7	$	19.6	$	21.2
Short-term lease cost	1.6		0.4		1.1		1.1
Variable lease cost	1.5		1.2		2.4		3.1
Total lease cost	$	11.0	$	10.3	$	23.1	$	25.4

Lease terms and discount rates were as follows:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Weighted-average remaining lease term (in years) - operating lease	6.7		5.7
Weighted-average discount rate - operating leases	11.9	%	4.4	%

Contractual maturities of operating lease liabilities as of December 30, 2022 (Successor) were as follows:


Fiscal 2023	$	14.9
Fiscal 2024	12.0
Fiscal 2025	7.9
Fiscal 2026	5.0
Fiscal 2027	3.2
Thereafter	18.3
Total lease payments	61.3
Less: Interest	(20.6)
Present value of lease liabilities	$	40.7

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9.2	$	9.4	$	20.4	$	23.1
Lease assets obtained in exchange for lease obligations:
Operating leases	7.1		13.4		2.6		6.9

Goodwill and Intangible Assets

12 Months Ended

Dec. 30, 2022

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:


	Successor				Predecessor
	December 30, 2022				December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable:
Completed technology	$	3,041.2	$	318.7	$	10,404.0	$	5,160.4
License agreements	—		—		120.1		82.1
Trademarks	—		—		77.7		26.9


Total	$	3,041.2	$	318.7	$	10,601.8	$	5,269.4
Non-Amortizable:
Trademarks	$	—			$	35.0
In-process research and development	121.3				81.0
Total	$	121.3			$	116.0

The Company recorded impairment charges related to its Specialty Brands segment totaling $154.9 million and $63.5 million during fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor), 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 (Predecessor) impairment charge included a partial impairment of $90.4 million related to Amitiza as the undiscounted cash flows were less than its net book value, 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 was related to the Ofirmev product 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.

As part of fresh-start accounting, as of the Effective Date, the Company wrote-off the existing intangible assets and accumulated amortization of the Predecessor and recorded $3,152.2 million to reflect the fair value of intangible assets of the Successor (see also Note 3). Such adjustment included $100.0 million in relation to the Company's PRV that was awarded under an FDA program intended to encourage the development of certain product applications for therapies used to treat or prevent material threat medical countermeasures. On June 30, 2022, subsequent to the Effective Date, the Company completed the sale of its PRV for $100.0 million and received net proceeds of $65.0 million as the buyer remitted the remaining $35.0 million to the General Unsecured Claims Trustee pursuant to the terms of (i) the Plan, and (ii) that certain General Unsecured Claims Trust Agreement entered into in connection with the Plan.

Intangible assets of the Successor as of the Effective Date consisted of the following:


	Carrying Amount		Amortization Method	Amortization Period (in years)	Discount Rate	Segment
Amortizable completed technology:
Acthar Gel	$	1,069.0	Sum of the years digits	13.5	14.2%	Specialty Brands
Therakos	913.8		Sum of the years digits	10.0	14.0	Specialty Brands
Amitiza	84.5		Sum of the years digits	3.0	14.0	Specialty Brands
INOmax	652.9		Sum of the years digits	9.0	14.0	Specialty Brands
StrataGraft	56.8		Straight-line	11.0	14.0	Specialty Brands
Generics	71.4		Straight-line	5.0	13.3	Specialty Generics
APAP	70.5		Straight-line	20.5	13.0	Specialty Generics
	2,918.9

Non-Amortizable in-process research and development:
Terlivaz (1)	104.8		Straight-line	7.0	15.0	Specialty Brands
Generics IPR&D	128.5		Not applicable	Not applicable	14.0	Specialty Generics
	233.3
	$	3,152.2

(1)Subsequent to the Effective Date, Terlivaz was approved by the FDA and was transferred to amortizable, finite-lived completed technology. See further discussion below.

Amitiza

Beginning January 1, 2022 (Predecessor), the Company changed its amortization method used for the Amitiza intangible asset from the straight-line method to the sum of the years digits method, an accelerated method of amortization, to more accurately reflect the consumption of economic benefits over the remaining useful life of the asset. This change in amortization method resulted in additional amortization expense of $21.7 million, which impacted basic loss per share by $0.26 for the period January 1, 2022 through June 16, 2022 (Predecessor).

Terlivaz

On September 14, 2022, the Company announced that the FDA had approved Terlivaz for injection. Upon FDA approval, the Company transferred the total $104.8 million of asset value from non-amortizable indefinite-lived acquired IPR&D rights to amortizable, finite-lived completed technology and began amortization of the asset in tandem with the first commercial shipment of the product during the fourth quarter of fiscal 2022. The FDA approval gave rise to a $17.5 million milestone payable and a corresponding intangible asset was recorded, which is amortized over the useful life of the related asset that began with the first commercial shipment of the product during the fourth quarter of fiscal 2022.

Intangible asset amortization expense

Intangible asset amortization expense was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Amortization expense	$	318.7	$	281.8	$	581.1	$	771.2

The estimated aggregate amortization expense on intangible assets owned by the Company and being amortized as of December 30, 2022 (Successor), is expected to be as follows:


Fiscal 2023	$	509.3
Fiscal 2024	446.1
Fiscal 2025	385.1
Fiscal 2026	337.5
Fiscal 2027	284.4

Debt

12 Months Ended

Dec. 30, 2022

Debt Disclosure [Abstract]

Debt Disclosure


14.			Debt

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


	Successor						Predecessor
	December 30, 2022						December 31, 2021
	Principal		Carrying Value (1)		Unamortized Discount and Debt Issuance Costs (1)		Principal		Unamortized Discount and Debt Issuance Costs
10.00% first lien senior secured notes due April 2025	$	495.0	$	475.9	$	—	$	495.0	$	5.9
10.00% second lien senior secured notes due April 2025	321.9		242.2		—		—		—
2017 Replacement Term loan due September 2027	1,374.1		1,222.1		—		—		—
2018 Replacement Term loan due September 2027	364.8		326.9		—		—		—
11.50% first lien senior secured notes due December 2028	650.0		650.0		20.8		—		—
10.00% second lien senior secured notes due June 2029	328.3		175.5		—		—		—
Revolving credit facility due February 2022	—		—		—		900.0		0.2
9.50% debentures due May 2022	—		—		—		10.4		—
5.75% senior notes due August 2022	—		—		—		610.3		—
8.00% debentures due March 2023	—		—		—		4.4		—
4.75% senior notes due April 2023	—		—		—		133.7		—
5.625% senior notes due October 2023	—		—		—		514.7		—
Term loan due September 2024	—		—		—		1,396.5		—
Term loan due February 2025	—		—		—		370.7		—
10.00% second lien senior notes due April 2025	—		—		—		322.9		—
5.50% senior notes due April 2025	—		—		—		387.2		—
Total debt	3,534.1		3,092.6		20.8		5,145.8		6.1
Less: Current portion	(44.1)		(44.1)		—		(1,395.0)		(6.1)
Less: Amounts reclassified to liabilities subject to compromise	—		—		—		(3,750.8)		—
Total long-term debt, net of current portion	$	3,490.0	$	3,048.5	$	20.8	$	—	$	—

(1)Upon adoption of fresh-start accounting, the Company recorded its debt instruments at fair value utilizing the Black-Derman-Toy model, which takes into consideration prepayment options and a credit-adjusted discount rate. Subsequent to the Effective Date, the Company accounted for its debt instruments utilizing the amortized cost method and accretes the instruments up from their fair value to the principal amount over the term of the respective instruments. Such accretion expense is reflected as interest expense on the consolidated statement of operations for the successor period.

The commencement of the Chapter 11 Cases constituted an event of default under certain of the Company's predecessor debt agreements. As a result of the Chapter 11 Cases, the principal and interest due under these debt instruments became immediately due and payable. However, any efforts to enforce payment was automatically stayed in accordance with the applicable provisions of the Bankruptcy Code.

On the Effective Date, the principal balance outstanding under the Existing Term Loans of $1,762.6 million, Existing 2L Notes of $322.9 million, Guaranteed Unsecured Notes of $1,512.2 million, 9.50% debentures of $10.4 million, 8.00% debentures of $4.4 million and 4.75% senior notes due April 2023 of $133.7 million were canceled and the Company entered into new Takeback Term Loans, New 2L Notes, and Takeback 2L Notes (all further described in Note 2). The Existing 1L Notes were reinstated and the Existing Revolver was paid in full in cash. Additionally, the Company issued New 1L Notes and entered into a receivables financing facility (discussed further below).

Successor Company Indebtedness

Takeback Term Loans

On the Effective Date and pursuant to the Plan, the Issuers entered into the Takeback Term Loans, each pursuant to a Credit Agreement, dated as of the Effective Date ("Credit Agreement"), among Mallinckrodt plc, the Issuers, the lenders party thereto from time to time, Acquiom Agency Services LLC and Seaport Loan Products LLC, as co-administrative agents, and Deutsche Bank AG New York Branch, as collateral agent. The Takeback Term Loans were issued to the holders of the existing senior secured term loans incurred by the Issuers in satisfaction thereof. All obligations under the Takeback Term Loans are unconditionally guaranteed by Mallinckrodt plc, certain of its direct or indirect wholly owned U.S. subsidiaries, each of its direct or indirect wholly owned subsidiaries that owns directly or indirectly any such wholly owned U.S. subsidiary, and certain other subsidiaries, subject to certain exceptions (collectively, the "Guarantors") and are secured by a security interest in certain assets of the Issuers and the Guarantors.

The 2017 Replacement Term Loans bear interest at a rate equal to, at the option of the borrowers thereunder, adjusted LIBOR, subject to a floor of 0.75%, plus a spread equal to 5.25% or an alternate base rate, subject to a floor of 1.75%, plus a spread equal to 4.25%. The 2018 Replacement Term Loans bear interest at a rate equal to, at the option of the borrowers thereunder, adjusted LIBOR, subject to a floor of 0.75%, plus a spread equal to 5.50% or an alternate base rate, subject to a floor of 1.75%, plus a spread equal to 4.50%. The LIBOR reference rate under the Takeback Term Loans will be replaced with the Secured Overnight Financing Rate ("SOFR") plus a spread of (i) 0.11448% for an available tenor of one-month’s duration, (ii) 0.26161% for an available tenor of three months’ duration, or (iii) 0.42826% for an available tenor of six-months’ duration and is currently anticipated to occur on or about June 30, 2023. Interest on the Takeback Term Loans is payable at the end of each applicable interest period, but in no event less frequently than quarterly. The Takeback Term Loans mature on September 30, 2027. Amounts outstanding under the Takeback Term Loans may be prepaid at any time, subject, under certain circumstances, to a 1.00% prepayment premium on prepayments made within the first nine months of the Effective Date. The Issuers may be obligated to prepay the Takeback Term Loans with the net proceeds of certain asset sales and recovery events, subject to certain qualifications and exceptions. The Issuers may also be obligated to prepay the Term Loans with a specified percentage of excess cash flow, subject to certain qualifications and exceptions.

The Credit Agreement contains certain customary affirmative and negative covenants, representations and warranties and events of default (subject in certain cases to customary grace and cure periods). The occurrence of an event of default under the Credit Agreement could result in the acceleration of all outstanding borrowings under the Takeback Term Loans and could cause a cross-default that could result in the acceleration of other indebtedness of Mallinckrodt plc and its subsidiaries.

11.50% First Lien Senior Secured Notes due 2028

On June 15, 2022, the Issuers and Mallinckrodt plc entered into a purchase agreement ("Note Purchase Agreement") with certain Purchasers (as defined in the Note Purchase Agreement) with respect to the issuance and sale of $650.0 million aggregate principal amount of New 1L Notes. The Note Purchase Agreement contains customary representations, warranties and covenants and includes the terms and conditions for the sale of the New 1L Notes, and other terms and conditions customary in agreements of this type. The net proceeds of the issuance of the New 1L Notes were applied to repay in part the existing senior secured revolving credit facility incurred by the Issuers and certain of their respective subsidiaries. The issuance of the New 1L Notes was exempt from registration under the Securities Act.

The New 1L Notes were issued by the Issuers on the Effective Date pursuant to an indenture, dated as of the Effective Date ("New 1L Notes Indenture") among the Issuers, Mallinckrodt plc, the Subsidiary Note Guarantors (as defined below), Wilmington Savings Fund Society, FSB, as first lien trustee, and Deutsche Bank AG New York Branch, as first lien collateral agent. The New 1L Notes mature on December 15, 2028.

Interest on the New 1L Notes, at a rate of 11.50% per annum, is payable semi-annually in cash on June 15 and December 15 of each year, which commenced on December 15, 2022.

The Issuers may redeem some or all of the New 1L Notes prior to June 15, 2027 by paying a "make-whole" premium, plus accrued and unpaid interest, if any. The Issuers may redeem some or all of the New 1L Notes on or after June 15, 2027 at par, plus accrued and unpaid interest, if any. The Issuers may also redeem all, but not less than all, of the New 1L 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 New 1L Notes. The Issuers are obligated to offer to repurchase the New 1L 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, if any, with the net proceeds of certain asset sales. These obligations are subject to certain qualifications and exceptions.

The New 1L Notes Indenture 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 New 1L Notes Indenture could result in the acceleration of the New 1L Notes and could cause a cross-default that could result in the acceleration of other indebtedness of Mallinckrodt plc and its subsidiaries. The New 1L Notes are jointly and severally guaranteed on a secured, unsubordinated basis by Mallinckrodt plc and each of its subsidiaries (other than the Issuers) that guarantees the obligations under the Takeback Term Loans ("Subsidiary Note Guarantors"). The New 1L Notes and the guarantees thereof are secured by liens on the same assets of the Issuers, Mallinckrodt plc and the Subsidiary Note Guarantors that are subject to liens securing the Takeback Term Loans, subject to certain exceptions.

Existing 10.00% First Lien Senior Secured Notes due 2025

The Existing 1L Notes were initially issued by the Issuers on April 7, 2020 pursuant to an indenture, dated as of April 7, 2020 among the Issuers, Mallinckrodt plc, the Subsidiary Note Guarantors, Wilmington Savings Fund Society, FSB, as first lien trustee, and Deutsche Bank AG New York Branch, as first lien collateral agent. The Existing 1L Notes mature on April 15, 2025. On the Effective Date and pursuant to the Plan and the Scheme of Arrangement, the Issuers' Existing 1L Notes in an aggregate principal amount of $495.0 million and the note documents relating thereto were reinstated.

In addition, pursuant to the terms of the Existing 1L Notes Indenture, the Issuers, Mallinckrodt plc, the Subsidiary Note Guarantors, Wilmington Savings Fund Society, FSB, as first lien trustee, and Deutsche Bank AG New York Branch, as first lien

collateral agent, entered into the Existing 1L Notes Indenture, dated as of the Effective Date, pursuant to which certain additional assets were added to the collateral securing the Existing 1L Notes and the guarantees thereof.

Interest on the Existing 1L Notes, at a rate of 10.00% per annum, is payable semi-annually in cash on April 15 and October 15 of each year, which commenced on October 15, 2020.

The Issuers may redeem some or all of the Existing 1L Notes prior to April 15, 2024 at specified redemption prices, plus accrued and unpaid interest, if any. The Issuers may redeem some or all of the Existing 1L Notes on or after April 15, 2024 at par, plus accrued and unpaid interest, if any. The Issuers may also redeem all, but not less than all, of the Existing 1L 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 Existing 1L Notes. The Issuers are obligated to offer to repurchase the Existing 1L 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, if any, with the net proceeds of certain asset sales. These obligations are subject to certain qualifications and exceptions.

The Existing 1L Notes Indenture 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 Existing 1L Notes could result in the acceleration of all outstanding borrowings under the Existing 1L Notes and could cause a cross-default that could result in the acceleration of other indebtedness of Mallinckrodt plc and its subsidiaries. The Existing 1L Notes are jointly and severally guaranteed on a secured, unsubordinated basis by Mallinckrodt plc and the Subsidiary Note Guarantors. The Existing 1L Notes and the guarantees thereof are secured by liens on the same assets of the Issuers, Mallinckrodt plc and the Subsidiary Note Guarantors that are subject to liens securing the Takeback Term Loans, subject to certain exceptions.

10.00% Second Lien Senior Secured Notes due 2025

On the Effective Date, pursuant to the Plan and the Scheme of Arrangement, the Issuers issued New 2L Notes in an aggregate principal amount of $322.9 million to the holders of the Issuers' Existing 2L Notes in satisfaction thereof. The New 2L Notes were issued pursuant to an Indenture, dated as of the Effective Date ("New 2L Notes Indenture"), among the Issuers, Mallinckrodt plc, the Subsidiary Note Guarantors and Wilmington Savings Fund Society, FSB, as second lien trustee and second lien collateral agent. The New 2L Notes mature on April 15, 2025. The issuance of the New 2L Notes was exempt from registration under the Securities Act.

Interest on the New 2L Notes, at a rate of 10.00% per annum, is payable semi-annually in cash on April 15 and October 15 of each year, which commenced on October 15, 2022.

The Issuers may redeem some or all of the New 2L Notes prior to April 15, 2024 at specified redemption prices, plus accrued and unpaid interest, if any. The Issuers may redeem some or all of the New 2L Notes on or after April 15, 2024 at par, plus accrued and unpaid interest, if any. The Issuers may also redeem all, but not less than all, of the New 2L 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 New 2L Notes. The Issuers are obligated to offer to repurchase the New 2L 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, if any, with the net proceeds of certain asset sales. These obligations are subject to certain qualifications and exceptions.

The New 2L Notes Indenture 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 New 2L Notes Indenture could result in the acceleration of the New 2L Notes and could cause a cross-default that could result in the acceleration of other indebtedness of Mallinckrodt plc and its subsidiaries. The New 2L Notes are jointly and severally guaranteed, subject to certain exceptions, on a secured, unsubordinated basis by Mallinckrodt plc and the Subsidiary Note Guarantors. The New 2L Notes and the guarantees thereof are secured by liens on the same assets of the Issuers, Mallinckrodt plc and the Subsidiary Note Guarantors that are subject to liens securing the Takeback Term Loans, subject to certain exceptions.

10.00% Second Lien Senior Secured Notes due 2029

On the Effective Date, pursuant to the Plan and the Scheme of Arrangement, the Issuers issued Takeback 2L Notes in an aggregate principal amount of $375.0 million to the holders of the Issuers' Guaranteed Unsecured Notes in partial satisfaction thereof. The Takeback 2L Notes were issued pursuant to an indenture, dated as of the Effective Date ("Takeback 2L Notes Indenture"), among the Issuers, Mallinckrodt plc, the Subsidiary Note Guarantors and Wilmington Savings Fund Society, FSB, as second lien trustee and second lien collateral agent. The Takeback 2L Notes mature on June 15, 2029. The issuance of the Takeback 2L Notes was exempt from registration under the Securities Act.

Interest on the Takeback 2L Notes, at a rate of 10.00% per annum, is payable semi-annually in cash on June 15 and December 15 of each year, which commenced on December 15, 2022.

The Issuers may redeem some or all of the Takeback 2L Notes prior to June 15, 2026 by paying a "make-whole" premium, plus accrued and unpaid interest, if any. The Issuers may redeem some or all of the Takeback 2L Notes on or after June 15, 2026 but prior

to June 15, 2028 at specified redemption prices, plus accrued and unpaid interest, if any. The Issuers may redeem some or all of the Takeback 2L Notes on or after June 15, 2028 at par, plus accrued and unpaid interest, if any. In addition, prior to June 15, 2026, the Issuers may redeem up to 40% of the aggregate principal amount of the Takeback 2L Notes with the net proceeds of certain equity offerings. The Issuers may also redeem all, but not less than all, of the Takeback 2L 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 Takeback 2L Notes. The Issuers are obligated to offer to repurchase the Takeback 2L 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, if any, with the net proceeds of certain asset sales. These obligations are subject to certain qualifications and exceptions.

The Takeback 2L Notes Indenture 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 Takeback 2L Notes Indenture could result in the acceleration of the Takeback 2L Notes and could cause a cross-default that could result in the acceleration of other indebtedness of Mallinckrodt plc and its subsidiaries. The Takeback 2L Notes are jointly and severally guaranteed, subject to certain exceptions, on a secured, unsubordinated basis by Mallinckrodt plc and the Subsidiary Note Guarantors. The Takeback 2L Notes and the guarantees thereof are secured by liens on the same assets of the Issuers, Mallinckrodt plc and the Subsidiary Note Guarantors that are subject to liens securing the Takeback Term Loans, subject to certain exceptions.

Accounts Receivable Financing Facility

On the Effective Date, MEH, Inc. ("MEH"), as servicer, ST US AR Finance LLC, a direct wholly owned subsidiary of MEH ("ST US AR"), as borrower, the lenders party thereto, and the letter of credit issuers party thereto entered into a receivables financing facility ("Receivables Financing Facility") pursuant to an ABL Credit Agreement ("Receivables Financing Credit Agreement") and a Purchase and Sale Agreement ("Purchase and Sale Agreement"). Under the Receivables Financing Facility, ST US AR may borrow money up to an amount based on a borrowing base with a maximum draw of up to $200.0 million, which may vary depending on the underlying receivables amount. Borrowings are secured by a first-lien security interest under the Receivables Financing Facility on existing and future accounts receivables and related assets that have been sold from certain subsidiaries of MEH to ST US AR. The Receivables Financing Facility includes customary affirmative and negative covenants for transactions of this type. From the closing date until the last day of the first fiscal quarter after the closing date, borrowings bear interest at a rate of (a) either (i) the alternate base rate or (ii) SOFR, and (b) an applicable margin. On the first day of each fiscal quarter thereafter, the applicable margins shall be determined from a pricing grid based upon the historical excess availability for the most recent fiscal quarter ended immediately prior. The Receivables Financing Facility matures on the earlier of June 16, 2026 and a date that is 91 days prior to the maturity date of other material debt or any other material indebtedness that is incurred after the closing date. ST US AR may borrow, pay or prepay and reborrow under the Receivables Financing Facility at any time. So long as there is not an overadvance under the Receivables Financing Facility, and subject to certain other conditions, ST US AR can elect to repay borrowings or use cash to make distributions to MEH and certain subsidiaries of MEH that have contributed receivables to ST US AR. The obligations under the Receivables Financing Facility are not guaranteed by MEH or any of its restricted subsidiaries. The Receivables Financing Facility is subject to customary events of defaults for transactions of this type. As of December 30, 2022 (Successor), the Company had no outstanding borrowings on its Receivables Financing Facility.

Applicable interest rate

As of December 30, 2022 (Successor), the applicable interest rate and outstanding principal on the Company's debt instruments were as follows:


	Applicable interest rate		Outstanding principal
Fixed-rate instruments	10.54	%	$	1,795.2
2017 Replacement Term Loan due September 2027	9.99		1,374.1
2018 Replacement Term Loan due September 2027	10.24		364.8

The Company's stated long-term debt principal maturity amounts as of December 30, 2022 are as follows:


Fiscal 2023	$	44.1
Fiscal 2024	33.0
Fiscal 2025	861.0
Fiscal 2026	44.0
Fiscal 2027	1,573.7

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.

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Retirement Plans

12 Months Ended

Dec. 30, 2022

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 30, 2022 (Successor), U.S. plans represented 33.9% 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.

The benefit obligation recognized on the consolidated balance sheets were $18.7 million and $27.3 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively, for pension benefits and $26.8 million and $37.3 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively, for postretirement benefits. The weighted-average discount rate to determine benefit obligations for the Company's pension and postretirement benefit plans ranged from 1.0% to 5.5%. 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.

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 permitted eligible employees to defer a portion of their compensation. The deferred compensation plan is currently frozen for employee deferrals. Total defined contribution expense was $7.8 million, $9.6 million, $22.2 million and $26.0 million for the period June 17, 2022 through December 30, 2022 (Successor), January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor), 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 55 and 57 life insurance contracts held by these trusts was $39.5 million and $43.4 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively. These contracts had a total death benefit of $81.0 million and $86.4 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively. However, there are outstanding loans against the policies amounting to $21.6 million and $20.8 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), 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 $7.3 million and $7.9 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively. These amounts were included in other assets on the consolidated balance sheets.

The entire disclosure for retirement benefits.

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Stockholders' Equity Note Disclosure

Equity Equity

12 Months Ended

Dec. 30, 2022

Equity [Abstract]


16.			Equity

Preferred Shares

Mallinckrodt is authorized to issue 500,000,000 preferred shares, par value of $0.01 per share, none of which were issued or outstanding as of December 30, 2022 (Successor). 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

The Predecessor's Board of Directors previously authorized share repurchase programs. Under the March 2017 Repurchase Program, $1,000.0 million was authorized for share repurchase. No shares were repurchased during the period from January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021(Predecessor) and fiscal 2020 (Predecessor). The March 2017 Repurchase Program

was terminated upon the emergence from bankruptcy.

On September 29, 2022, during the 2022 Annual General Meeting of Shareholders, the Company’s shareholders approved that the Company may make market purchases or overseas market purchases of a maximum of 1,317,093 Ordinary Shares of the Company. The maximum price to be paid for any Ordinary Share shall be an amount equal to 110% of the closing price on the relevant stock exchange on which the Ordinary Shares are listed (such as the New York Stock Exchange American LLC) for the Ordinary Shares on the trading day preceding the day on which the relevant share is purchased by the Company or the relevant subsidiary of the Company, and the minimum price to be paid for any Ordinary Share shall be the nominal value of such share. This repurchase program will expire at the close of business on March 29, 2024 unless renewed at the Annual General Meeting of Shareholders in 2023. No shares were repurchased during the period from June 17, 2022 through December 30, 2022 (Successor).

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 for each of the period from June 17, 2022 through December 30, 2022 (Successor), the period from January 1, 2022 through June 16, 2022 (Predecessor) and fiscal 2021 (Predecessor), respectively, and $0.4 million during and fiscal 2020 (Predecessor) to acquire shares in connection with equity-based awards.

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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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Share-based Payment Arrangement [Abstract]

Share Plans

12 Months Ended

Dec. 30, 2022

Share Plans


17.			Share Plans

Total share-based compensation cost was $1.4 million, $1.7 million, $10.2 million and $25.3 million for the period June 17, 2022 through December 30, 2022 (Successor), the period January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor), 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 for the period June 17, 2022 through December 30, 2022 (Successor), the period January 1, 2022 through June 16, 2022 (Predecessor), fiscal 2021 (Predecessor) and fiscal 2020 (Predecessor).

Stock Compensation Plans

On the Effective Date, all outstanding equity-based awards under the Mallinckrodt Pharmaceuticals Stock and Incentive Plan, as amended and restated effective February 23, 2022, were automatically cancelled without consideration.

A new Mallinckrodt Pharmaceuticals Stock and Incentive Plan became effective on the Effective Date, 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 plan was 1.8 million shares.

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




Outstanding as of December 27, 2019 (Predecessor)	6,890,700	36.39
Expired/Forfeited	(820,988)	39.65
Outstanding as of December 25, 2020 (Predecessor)	6,069,712	35.95


Expired/Forfeited	(516,193)	45.63
Outstanding as of December 31, 2021 (Predecessor)	5,553,519	35.05
Expired/Forfeited	(5,553,519)	35.05
Outstanding as of June 16, 2022 (Predecessor)	—	—

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 three 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 12/27/2019 (Predecessor)	1,419,020	22.68

Exercised	(647,167)	24.23
Expired/Forfeited	(281,182)	22.11
Non-vested as of 12/25/2020 (Predecessor)	490,671	20.96

Exercised	(186,930)	23.43
Expired/Forfeited	(60,844)	19.58
Non-vested as of 12/31/2021 (Predecessor)	242,897	19.40
Expired/Forfeited	(242,897)	19.40
Non-vested as of June 16, 2022 (Predecessor)	—	—


Non-vested as of June 17, 2022 (Successor)	—	—
Granted	890,485	12.03
Non-vested as of December 30, 2022 (Successor)	890,485	12.03

The total fair value of RSU awards granted during the period from June 17, 2022 through December 30, 2022 (Successor) was $10.7 million. As of December 30, 2022 (Successor), there was $9.4 million of total unrecognized compensation cost related to non-vested RSUs granted, which is expected to be recognized over a weighted-average period of 2.2 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.

A portion of the PSUs granted in fiscal 2022 will be settled in shares and are classified as equity-based awards, and a portion of the PSUs have the ability to be settled in either shares or cash and are classified as liability-based awards. The Company recognized $0.1 million of equity-based compensation costs during the period from June 17, 2022 through December 30, 2022 (Successor). The fair value of the liability-based awards is measured quarterly and is based on the Company's performance. Payment, if any, for the liability-based awards is expected to be made in fiscal 2024.

PSU activity was as follows (1):


	Shares	Weighted-Average Grant-Date Fair Value




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

Forfeited	(1,195,505)	23.85

Non-vested as of December 25, 2020 (Predecessor)	—	—


Non-vested as of June 17, 2022 (Successor)	—	—
Granted	675,821	8.34
Non-vested as of December 30, 2022 (Successor)	675,821	8.34

(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 the period June 17, 2022 through December 30, 2022 (Successor) were as follows:




Expected stock price volatility	38.9	%
Peer group stock price volatility	128.0
Correlation of returns	24.4

The weighted-average grant-date fair value per share of PSUs granted was $8.34 and $2.51 for the equity-based and liability-based awards from the period from June 17, 2022 through December 30, 2022 (Successor), respectively. As of December 30, 2022, there was $5.5 million and $1.7 million of unrecognized compensation cost related to the equity-based and liability-based awards, respectively, which are both expected to be recognized over a weighted average period of 1.9 years.

Guarantees

12 Months Ended

Dec. 30, 2022

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 liability was $14.9 million and included in LSTC on the Company's consolidated balance sheet as of December 31, 2021 (Predecessor), of which $12.1 million related to environmental, health and safety matters. The aggregate fair value of these indemnification obligations did not differ significantly from their aggregate carrying value as of December 31, 2021 (Predecessor). The liability relating to all of these indemnification obligations was governed by a contract that was rejected as part of Chapter 11 and is no longer a liability of the Successor Company. The Company was required to pay $30.0 million into an escrow account as collateral to the purchaser. The contract governing the escrow account was assumed in the Chapter 11 proceedings. As of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), $19.3 million and $19.0 million remained in restricted cash, included in other long-term assets on the consolidated balance sheets, respectively. As of December 30, 2022 (Successor), the Company does not expect to make future payments related to these indemnification obligations.

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 30, 2022 (Successor), the Company had various other letters of credit, guarantees and surety bonds totaling $30.1 million and restricted cash of $37.9 million held in segregated accounts primarily to collateralize surety bonds for the Company's environmental liabilities.

Commitments and Contingencies

12 Months Ended

Dec. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies


19.			Commitments and Contingencies

Governmental Proceedings

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 for Acthar Gel under the Medicaid Drug Rebate Program, which was also the subject of litigation that the Company filed against the Agency. The SEC issued subsequent subpoenas on January 7, 2022 and September 28, 2022, requesting additional documents from the Company.

In connection with the investigation, on January 13, 2023, the SEC staff issued Wells Notices to the Company and individuals, including certain of its current and former executive officers, who were employed during 2019 (collectively, the “Individuals”). The notices indicate that the SEC staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company that would allege violations of the federal securities laws, and against the Individuals that would allege violations of the federal securities laws and/or aiding and abetting violations of the federal securities laws. The recommendation as to the Company may involve an injunction, a cease-and-desist order and/or other appropriate relief.

The actions recommended by the SEC staff would allege, among other things, that (a) the Company improperly omitted to disclose the dispute with the Agency prior to the litigation filed by the Company in federal court on May 21, 2019, and (b) the Company’s disclosure of the civil investigative demand received from the U.S. Attorney’s Office for the District of Massachusetts in January 2019 (the “Boston CID”) should have stated that the Boston CID related to the Company’s dispute with the Agency.

A Wells Notice is neither a formal charge of wrongdoing nor a final determination that the recipient has violated any law. Under the SEC procedures, a recipient of a Wells Notice has an opportunity to respond and make a submission to the SEC staff setting forth the recipient’s interests and position in regard to the subject matter of the investigation.

The Company believes that it has complied with all applicable laws and regulations, and it has provided a submission explaining the Company’s position and its belief that no enforcement action is warranted or appropriate. The Company understands that the Individuals have provided similar submissions to the SEC staff. The outcome of this matter is uncertain, and as a result, the Company is unable to estimate the potential exposure associated with this matter.

Other Related Matters

Florida Civil Investigative Demand. In or around February 2019, the Company received a civil investigative demand ("CID") from the U.S. Attorney's Office 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.

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. ("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 ("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.

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.

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. On July 13, 2022, the court administratively closed this case pending the outcome of the Federal Circuit's decision in Janssen Pharmaceuticals, Inc. v. Mylan Laboratories Limited, Case No. 22-1307.

Mallinckrodt Pharmaceuticals Ireland Limited et al. v. Airgas Therapeutics LLC et al. On December 30, 2022, the Company initiated litigation against Airgas Therapeutics LLC, Airgas USA LLC, and Air Liquide S.A. (collectively "Airgas") in the District of Delaware following notice from Airgas of its ANDA submission seeking approval from FDA for a generic version of INOmax® (nitric oxide) gas, for inhalation ("INOmax"). Many of the patents asserted against Airgas were previously asserted in the District of Delaware against Praxair Distribution, Inc. and Praxair, Inc. (collectively "Praxair") in 2015 and 2016 following Praxair’s submissions with FDA seeking approval for a nitric oxide drug product and delivery system. The litigation against Praxair resulted in Praxair's launch of a competitive nitric oxide product. The Company continues to develop and pursue patent protection of next generation nitric oxide delivery systems and additional uses of nitric oxide and intends to vigorously enforce its intellectual property rights against any parties that may seek to market a generic version of Company's INOmax product and/or next generation delivery systems.

Commercial and Securities Litigation

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 moved to dismiss the complaint, which motion 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. As a result of the Plan, the litigation was discharged against the Company and the claims thereunder are now the obligation of the trust established by the Plan for the benefit of allowed general unsecured claims ("GUC Trust"). The GUC Trust can settle the claims as long as there is no agreement to any findings nor any admission of liability or wrongdoing against the Company in the relevant settlement agreement. On February 17, 2023, this matter was dismissed as to the Company.

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), 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. The complaint alleges the violations of Racketeer Influenced and Corrupt Organizations Act ("RICO") under 18 U.S.C. Section 1962(c); conspiracy to violate RICO under 18 U.S.C. Section 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, and the matter was stayed during bankruptcy. Following lifting of the automatic stay of this litigation pursuant to Section 362 of the Bankruptcy Code and subsequent reopening of the case in the EDPA, 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 opposed transfer. On January 18, 2023, this matter was dismissed as to the Company.

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 and is captioned as 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. Following lifting of the automatic stay of this litigation pursuant to Section 362 of the Bankruptcy Code, on

September 29, 2022, the court remanded the case to state court; no further action has been taken. At this stage, the Company will vigorously defend itself in this matter both on the merits and as discharged through the bankruptcy.

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 captioned as 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. In January 2021, the Company removed this case to the U.S. District Court for the EDPA. In March 2021, the EDPA 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. On November 17, 2022, Local 542 filed a motion to withdraw the reference to the District Court, and the case was transferred back to the District of Delaware at Case No. 22-cv-01502. On December 22, 2022, Local 542 filed a request for the motion to withdraw the reference to be decided by the EDPA and to permit remand to state court. On December 28, 2022, the case was assigned to Judge Ambro of the United States Court of Appeals for the Third Circuit due to related cases. At this stage, the Company will vigorously defend itself in this matter both on the merits and as discharged through the bankruptcy.

Other Commercial and Securities Litigation Matters

Putative Class Action Securities Litigation (Strougo). In July 2019, a putative class action lawsuit was filed against the Company, its former CEO Mark C. Trudeau, its Chief Financial Officer ("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 various false and/or misleading statements and/or failed to disclose various material facts regarding Acthar Gel and its results of operations. On October 1, 2020, the defendants filed a motion to dismiss the amended complaint. As to the Company, this litigation is subject to the automatic stay under Section 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 and on March 17, 2022. On March 17, 2022, the Strougo action was administratively closed. On March 29, 2022, the Strougo action was reinstated only with respect to the individual defendants, and the individual defendants filed their reply in support of their motion to dismiss on May 2, 2022. On July 21, 2022, the Company filed a notice of discharge that, if approved by the court, would result in dismissal for the Company. The notice informed the court that (i) the Bankruptcy Court confirmed the Plan; (ii) the Company's discharge pursuant to Section 1141(d) of the Bankruptcy Code of the claims asserted against it in the Strougo action had taken effect; and (iii) the Plan and the discharge injunction enjoin any party from, among other things, continuing to pursue claims against the Company in the Strougo action. On December 16, 2022, the District Court issued an order denying the individual defendants' motion to dismiss in all respects. The individual defendants have answered the complaint and the case is now proceeding into the discovery phase. As to the Company, this matter was resolved in bankruptcy with no further liability against the Company.

Employee Stock Purchase Plan Securities Litigation. On November 28, 2022, the court entered an order pursuant to which all derivative claims were dismissed without prejudice, all remaining claims were dismissed with prejudice as to the plaintiffs and without prejudice as to all other members of the putative class, and the case was closed.

Generic Pharmaceutical Antitrust Multi-District Litigation.

In August 2016, a multi-district litigation ("MDL") was established in the EDPA relating to allegations of antitrust violations with respect to generic pharmaceutical pricing ("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. The Generic Pricing MDL includes lawsuits against the Company and dozens of other pharmaceutical companies, including a complaint filed by Attorneys General for 51 States, Territories and the District of Columbia seeking monetary damages and injunctive relief. While the Company is not subject to monetary damages in connection with

these matters as a result of the Plan and vigorously disagrees with the plaintiffs' characterization of the facts and law, the Company is not able to reasonably estimate whether any injunctive relief will be granted, and if granted, whether it will materially impact the Company's financial position or operations; the Company does not intend to provide further disclosure unless this assessment changes.

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 30, 2022 (Successor), it was probable that it would incur remediation costs in the range of $18.4 million to $48.5 million. The Company also concluded that, as of December 30, 2022 (Successor), the best estimate within this range was $36.9 million, of which $1.1 million was included in accrued and other current liabilities and the remainder was included in environmental liabilities on the consolidated balance sheet as of December 30, 2022 (Successor). 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 30, 2022 (Successor), the Company estimated that its remaining liability related to the River was $21.0 million, which was included within in environmental liabilities on the consolidated balance sheet as of December 30, 2022 (Successor). 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. As a result of the Plan, the lawsuit was discharged against the Company. Any reserves associated with this contingency were included in LSTC as of the Effective Date, as any related liabilities were discharged under the U.S. Bankruptcy Code.

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 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. As a result of the Plan, this matter was discharged against the Company.

Bankruptcy Litigation and Appeals

First Lien Noteholder Matters. As set forth in greater detail in Note 2, the Plan proposed to reinstate the Existing First Lien Notes. Certain holders of the Existing First Lien Notes and the trustee in respect thereof (collectively, the "Noteholder Parties"), objected to the proposed reinstatement, arguing, among other things, that the Company was required to pay a significant make-whole premium as a condition to reinstatement of the Existing First Lien Notes. In the course of confirming the Plan, the Bankruptcy Court overruled these objections.

On March 30, 2022, the Noteholder Parties appealed the confirmation order's approval of the reinstatement of the Existing First Lien Notes to the United States District Court for the District of Delaware. The Company and the Existing First Lien Notes Trustee reached an agreement to hold the trustee's appeal in abeyance, to be determined by the result of the holders' appeals, subject to certain conditions, which was approved by the District Court. Briefing on the merits of the Noteholder Parties' appeals was completed on July 1, 2022. On the same date, the Company moved to dismiss the Noteholder Parties' appeals as equitably moot. Briefing on the motion was completed on August 5, 2022 and supplemental declarations have been filed in the appeal. The Noteholder Parties' appeals and the related motion to dismiss remain pending.

At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with these appeals. The Company will continue to vigorously defend the Plan.

Sanofi. On October 12, 2021, in the Company's bankruptcy, sanofi-aventis U.S. LLC ("Sanofi") filed a motion asking the Bankruptcy Court for an order determining that, under the Bankruptcy Code, the Company could not discharge alleged royalty obligations owed to Sanofi under an asset purchase agreement through which the Company acquired certain intellectual property from Sanofi's predecessor ("Sanofi Motion"). On November 8, 2021, the Bankruptcy Court denied the Sanofi Motion and ordered that any royalty obligations allegedly owed to Sanofi constitute prepetition unsecured claims that may be discharged under the Bankruptcy Code. On November 19, 2021, Sanofi appealed the Bankruptcy Court's ruling of the Sanofi Motion to the District Court. Briefing was completed on March 10, 2022 and the District Court affirmed on December 20, 2022, for which Sanofi filed a notice of appeal on January 17, 2023. Sanofi had also appealed the Bankruptcy Court's confirmation order, on February 18, 2022, and briefing has been completed. As of the date of this annual report, the appeal regarding the confirmation order remains pending and will likely remain pending until Sanofi's Third Circuit appeal of the Sanofi Motion is resolved.

Glenridge. On October 21, 2021, in the Company's bankruptcy, Kenneth Greathouse, Stuart Rose, and Lloyd Glenn (collectively, the "Glenridge Principals") filed a joinder to the Sanofi Motion and asked the Bankruptcy Court for an order similarly determining that royalty obligations owed by the Company to the Glenridge Principals under a royalty agreement were not dischargeable under the Bankruptcy Code and that the royalty agreement could not be rejected by the Company in its bankruptcy. On December 1, 2021, the Bankruptcy Court denied the motion, entering an order that the royalty agreement between the Company and the Glenridge Principals could be rejected under the Bankruptcy Code and that any royalties owed under the agreement were prepetition unsecured claims that could be discharged under the Bankruptcy Code. On December 15, 2021, the Glenridge Principals appealed the Bankruptcy Court's ruling to the District Court. Briefing has not been completed at this time. The parties mutually agreed to extend the briefing deadlines. Subsequently, on March 16, 2022, the Glenridge Principals appealed the confirmation order and thereafter the parties stipulated to the dismissal of both appeals on November 16, 2022 and are awaiting entry of an order approving such stipulation. The GUC Trust, the Company and the Glenridge Principals reached a settlement, which was approved by the Bankruptcy Court on October 28, 2022. Thereafter, the parties stipulated to dismissal of both appeals on November 16, 2022 and are awaiting court order closing the appeals.

Acthar Insurance Claimants. In the Company's bankruptcy, Attestor Limited and Humana Inc. (collectively, the "Acthar Insurance Claimants") filed administrative claims with the Bankruptcy Court seeking hundreds of millions of dollars based on the Company's allegedly illegal sales of Acthar Gel. The Company objected to the claims, arguing that the Company had no such liability. After a bench trial, the Bankruptcy Court, on December 6, 2021, sustained the Company's objection and disallowed the administrative claims filed by the Acthar Insurance Claimants. The Acthar Insurance Claimants appealed that ruling to the District Court on December 20, 2021. On February 4, 2022, the Acthar Insurance Claimants moved to have the District Court certify their appeal directly to the Third Circuit. Meanwhile, on July 1, 2022, the Company moved to dismiss the Acthar Insurance Claimants' appeal as equitably moot. Briefing on that motion was completed on August 5, 2022. On October 31, 2022, the District Court denied the Acthar Insurance Claimants motion for direct appeal to the Third Circuit. On February 20, 2023, the parties entered into a settlement agreement in an amount immaterial to the Company, with no findings nor any admission of liability or wrongdoing against the Company, and the matter was dismissed on February 24, 2023.

Stratatech. As described in Note 20, consummation of the Plan discharged the Company's liability with respect to certain contingent consideration provided to the prior securityholders of Stratatech Corporation ("Stratatech"). However, Russell Smestad, as the representative of these securityholders, has filed a motion in the Bankruptcy Court for an order either (i) granting allowance and immediate payment of an administrative expense claim in the amount of the liability of $20 million or (ii) finding that the claim was not susceptible to discharge and should be paid in full. The Company believes that the securityholders’ motion is without merit and intends to vigorously oppose it.

Banks et al. v. Cotter Corporation et al. v. Mallinckrodt LLC, et al. On January 29, 2023, the named plaintiffs in Banks et al. v. Cotter Corporation et al. v. Mallinckrodt LLC, et al. No. 20-CV-1227 (E.D. Mo.) filed a motion to amend their class-action petition to add Mallinckrodt LLC as a defendant. Mallinckrodt LLC filed a motion in the Bankruptcy Court to enjoin this petition on the grounds that these alleged claims were discharged pursuant to the Plan and confirmation order. Both motions remain pending until the Bankruptcy Court adjudicates the motion to enjoin.

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. 30, 2022

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 30, 2022 (Successor)		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	$	36.6	$	24.8	$	11.8	$	—
Equity securities	25.5		25.5		—		—
	$	62.1	$	50.3	$	11.8	$	—
Liabilities:
Deferred compensation liabilities	$	26.0	$	—	$	26.0	$	—
Contingent consideration liabilities	7.3		—		—		7.3

	$	33.3	$	—	$	26.0	$	7.3


	December 31, 2021 (Predecessor)		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 (Predecessor), the Debtors received approval from the Bankruptcy Court to maintain existing postretirement benefit plans during the pendency of the Chapter 11 Cases.

(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 (Predecessor).

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 Therapeutics plc and Panbela Therapeutics, Inc. for which quoted prices are available in an active market; therefore, these investments are classified as level 1 and are valued based on quoted market prices reported on internationally recognized securities exchanges.

During the period from June 17, 2022 through December 30, 2022 (Successor), fiscal 2021 (Predecessor) and 2020 (Predecessor), the Company recognized an unrealized gain of $9.2 million, $4.7 million and $3.8 million, respectively, and during the period from January 1, 2022 through June 16, 2022 (Predecessor), the Company recognized an unrealized loss of $22.2 million related to our investments within other income (expense), 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.

Successor contingent consideration liabilities. In accordance with the Plan and Scheme of Arrangement, the Company will provide consideration for a CVR associated with Terlivaz primarily in the form of the achievement of a cumulative net sales milestone. The Company assesses the likelihood and timing of making such payments at each balance sheet date. The fair value of the contingent payment was measured based on the net present value of a probability-weighted assessment. The Company determined the fair value of the Terlivaz CVR to be $7.3 million as of December 30, 2022 (Successor).

Predecessor contingent consideration liabilities. As part of the acquisition of Stratatech, 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 was responsible for a payment upon acceptance of the Company's submission and another upon approval by the FDA. The Company determined the fair value of the contingent consideration associated with the acquisition of Stratatech to be $27.3 million as of December 31, 2021 (Predecessor). These liabilities were governed by a contract and recorded at their estimated allowed claim amount within LSTC in the consolidated balance sheet as of December 31, 2021 (Predecessor). The contract governing this liability was rejected and the liability was discharged pursuant to the Plan on the Effective Date.

All contingent consideration liabilities were classified within other liabilities and LSTC in the consolidated balance sheets as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively. The following table summarizes the fiscal 2022 activity for contingent consideration:


Balance as of December 31, 2021(Predecessor)	$	27.3





Impact of the Plan on Predecessor contingent consideration liabilities	(27.3)
Establishment of Terlivaz CVR	6.8
Balance as of June 16, 2022 (Successor)	$	6.8


Balance as of June 17, 2022 (Successor)	$	6.8




Fair value adjustments	0.5
Balance as of December 30, 2022 (Successor)	$	7.3

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 30, 2022 (Successor) and December 31, 2021 (Predecessor):

•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 $57.2 million and $60.2 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), (level 1), respectively. Included within the balance as of the Effective Date was $89.0 million related to the funding of a professional fee escrow account upon emergence from Chapter 11. Refer to Note 3 for further information. As of December 30, 2022 (Successor), the professional fee escrow balance was zero.

•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 $46.7 million and $51.3 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively. These contracts are included in other assets on the consolidated balance sheets.

•Successor debt. The Company's Existing 1L Notes, New 2L Notes, New 1L Notes and Takeback 2L Notes are classified as level 1, as quoted prices are available in an active market for these notes. Since quoted market prices for the Company's term loans are not available in an active market, they are classified as level 2 for purposes of developing an estimate of fair value.

Predecessor debt. The carrying value of the Company's former revolving credit facility approximated the fair value due to the short-term nature of this instrument, and was therefore classified as level 1. The Company's former 5.75%, 4.75%, 5.625%, 5.50% senior notes and 10.00% first and second lien senior secured notes were classified as level 1, as quoted prices were available in an active market for these notes. Since the quoted market prices for the Company's former term loans and former 9.50% and 8.00% debentures were not available in an active market, they were classified as level 2 for purposes of developing an estimate of fair value.


	Successor				Predecessor
	December 30, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Level 1:
10.00% first lien senior secured notes due April 2025	$	475.9	$	425.9	$	495.0	$	523.7
10.00% second lien senior secured notes due April 2025	242.2		216.8		—		—
11.50% first lien senior secured notes due December 2028	650.0		552.6		—		—
10.00% second lien senior secured notes due June 2029	175.5		176.7		—		—
Revolving credit facility due February 2022	—		—		900.0		900.0
5.75% senior notes due August 2022	—		—		610.3		324.1
4.75% senior notes due April 2023	—		—		133.7		48.9
5.625% senior notes due October 2023	—		—		514.7		279.1
10.00% second lien senior secured notes due April 2025	—		—		322.9		312.7
5.50% senior notes due April 2025	—		—		387.2		211.6

Level 2:
2017 Replacement Term loan due September 2027	1,222.1		1,037.8		—		—
2018 Replacement Term loan due September 2027	326.9		274.8		—		—
9.50% debentures due May 2022	—		—		10.4		7.7
8.00% debentures due March 2023	—		—		4.4		3.2
Term loan due September 2024	—		—		1,396.5		1,309.2
Term loan due February 2025	—		—		370.7		347.7
Total Debt	$	3,092.6	$	2,684.6	$	5,145.8	$	4,267.9

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:

Successor

Predecessor

Period from
June 17, 2022
through
December 30, 2022

Period from
January 1, 2022
through
June 16, 2022

Year Ended December 31, 2021

Year Ended December 25, 2020

FFF Enterprises, Inc.

26.1

11.8

CuraScript, Inc.

15.6

26.1

27.4

* 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:

Successor

Predecessor

December 30,
2022

December 31,
2021

AmerisourceBergen Corporation

23.3%

30.0%

McKesson Corporation

17.3

15.0

FFF Enterprises, Inc.

16.2

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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Acthar Gel	28.3	%	25.4	%	26.9	%	27.9	%
INOmax	16.7		19.0		20.3		20.9
Therakos	12.5		12.5		12.1		*
APAP	10.7		11.0		*		*
Ofirmev	*		*		*		10.1

Segment and Geographical Data

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. 30, 2022

Segment Reporting [Abstract]


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 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 $6,013.8 million and $8,916.3 million as of December 30, 2022 (Successor) and December 31, 2021 (Predecessor), respectively.

Selected information by reportable segment was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Net sales:
Specialty Brands (1)	$	682.4	$	587.1	$	1,547.0	$	2,059.6
Specialty Generics	357.3		287.5		661.8		689.8
Segment net sales	1,039.7		874.6		2,208.8		2,749.4
Medicaid lawsuit (1)	—		—		—		(536.0)
Net sales	$	1,039.7	$	874.6	$	2,208.8	$	2,213.4
Operating loss:
Specialty Brands	$	113.8	$	267.2	$	812.8	$	1,015.7
Specialty Generics (2)	(3.6)		65.3		107.9		206.4
Segment operating income	110.2		332.5		920.7		1,222.1
Unallocated amounts:
Corporate and unallocated expenses (3)	(39.3)		(48.2)		(129.6)		(166.1)
Depreciation and amortization	(347.5)		(321.8)		(675.8)		(885.2)
Share-based compensation	(1.4)		(1.7)		(10.2)		(25.3)
Restructuring charges, net	(11.1)		(9.6)		(26.9)		(37.5)
Non-restructuring impairment charges	—		—		(154.9)		(63.5)
Separation costs (4)	(21.2)		(9.0)		(1.2)		(93.4)
R&D upfront payment (5)	—		—		—		(5.0)
Opioid-related litigation settlement gain (loss)	—		—		(125.0)		43.4
Medicaid lawsuit (1)	—		—		—		(641.1)
Bad debt expense - customer bankruptcy	(6.4)		—		—		—
Operating loss	$	(316.7)	$	(57.8)	$	(202.9)	$	(651.6)

Depreciation and amortization:
Specialty Brands	$	323.6	$	288.4	$	597.7	$	799.3
Specialty Generics	23.9		33.4		78.1		85.9
	$	347.5	$	321.8	$	675.8	$	885.2

(1)Specialty Brands net sales for fiscal 2020 (Predecessor) 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 (Predecessor).

(2)Includes $30.0 million of fresh-start inventory-related expense during the period from June 17, 2022 through December 30, 2022 (Successor) primarily driven by the Company's change in accounting estimate as disclosed in Note 1.

(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 expenses incurred related to the severance for the former CEO and certain former executives of the Predecessor, in addition to professional fees and costs incurred as the Company explores potential sales of non-core assets to enable further deleveraging post-emergence from bankruptcy during the period from June 17, 2022 through December 30, 2022 (Successor). Costs incurred during the Predecessor periods include 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 were 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 Terlivaz during fiscal 2020.

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Acthar Gel (1)	$	294.1	$	221.9	$	593.6	$	767.9
INOmax	173.9		165.8		448.5		574.1
Ofirmev	(0.3)		2.5		28.9		276.5
Therakos	130.5		109.6		266.5		238.6
Amitiza (2)	77.1		81.5		196.9		188.8
Other	7.1		5.8		12.6		13.7
Specialty Brands	682.4		587.1		1,547.0		2,059.6

Opioids	117.9		88.8		213.2		233.9
ADHD	28.4		17.5		37.4		48.3
Addiction treatment	35.0		30.0		68.3		68.9
Other	6.8		4.9		12.0		7.3
Generics	188.1		141.2		330.9		358.4
Controlled substances	47.0		37.6		93.4		98.3
APAP	111.4		96.5		215.9		213.0
Other	10.8		12.2		21.6		20.1
API	169.2		146.3		330.9		331.4
Specialty Generics	357.3		287.5		661.8		689.8
Segment net sales	1,039.7		874.6		2,208.8		2,749.4
Medicaid lawsuit	—		—		—		(536.0)
Net Sales	$	1,039.7	$	874.6	$	2,208.8	$	2,213.4

(1)Fiscal 2020 (Predecessor) includes the prospective change to the Medicaid rebate calculation of $40.4 million for the period from June 15, 2020 through December 25, 2020 (Predecessor).

(2)Amitiza net sales consist of both product and royalty net sales. Refer to Note 5 for further details on Amitiza's revenues.

Selected information by geographic area was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Net sales (1):
U.S.	$	928.3	$	784.2	$	1,991.8	$	2,465.5
Europe, Middle East and Africa	100.4		73.6		181.8		227.5
Other	11.0		16.8		35.2		56.4
Geographic area net sales	1,039.7		874.6		2,208.8		2,749.4
Medicaid lawsuit	—		—		—		(536.0)
Net Sales	$	1,039.7	$	874.6	$	2,208.8	$	2,213.4

(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.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Subsequent Events

12 Months Ended

Dec. 30, 2022

Subsequent Events [Abstract]

Subsequent Events


22.			Subsequent Events

Income Taxes

On February 28, 2023, the Company received $112.1 million of cash, plus interest, of the $135.9 million CARES Act income tax refund receivable that was included within prepaid expense and other current assets on the consolidated balance sheet as of December 30, 2022 (Successor). The remaining refund is expected to be received during fiscal 2023.

Commitments and Contingencies

Certain litigation matters occurred prior to December 30, 2022 (Successor) 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. 30, 2022

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 Period from June 17, 2022 through December 30, 2022 (Successor)	$	5.9	$	0.5	$	—	$	(2.0)	$	4.4
Fiscal year ended Period from January 1, 2022 through June 16, 2022 (Predecessor)	4.7		1.2		—		—		5.9
Fiscal year ended December 31, 2021 (Predecessor)	4.5		1.2		—		(1.0)		4.7
Fiscal year ended December 25, 2020 (Predecessor)	4.0		1.2		—		(0.7)		4.5

Sales reserve accounts:
Fiscal year ended Period from June 17, 2022 through December 30, 2022 (Successor)	$	276.9	$	848.1	$	—	$	(831.0)	$	294.0
Fiscal year ended Period from January 1, 2022 through June 16, 2022 (Predecessor)	$	272.8	715.7		—		(711.6)		$	276.9
Fiscal year ended December 31, 2021 (Predecessor)	235.4		2,166.0		—		(2,128.6)		272.8
Fiscal year ended December 25, 2020 (Predecessor) (1)	337.4		2,154.3		536.0		(2,792.3)		235.4

Tax valuation allowance:
Fiscal year ended Period from June 17, 2022 through December 30, 2022 (Successor)	$	5,129.7	$	(136.0)	$	(0.8)	$	—	$	4,992.9
Fiscal year ended Period from January 1, 2022 through June 16, 2022 (Predecessor)	6,344.2		(1,213.5)		(1.0)		—		$	5,129.7
Fiscal year ended December 31, 2021 (Predecessor)	6,110.8		233.4		—		—		6,344.2
Fiscal year ended December 25, 2020 (Predecessor)	3,131.5		2,979.3		—		—		6,110.8

Background and Basis of Presentation (Policies)	12 Months Ended
Background and Basis of Presentation (Policies)	Dec. 30, 2022
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. The period June 17, 2022 through December 30, 2022 reflects the Successor period, while the period January 1, 2022 through, and including, June 16, 2022 reflects the Predecessor period. Fiscal year ended December 31, 2021 (Predecessor) ("fiscal 2021") consisted of 53 weeks, while the combined periods of January 1, 2022 through June 16, 2022 and June 17, 2022 through December 30, 2022 ("fiscal 2022") and fiscal year ended December 25, 2020 (Predecessor) ("fiscal 2020") consisted of 52 weeks.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 30, 2022

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

operations. Contract liabilities are recorded when cash payments are received in advance of the Company's performance, including amounts that are refundable.

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	3	to	20 years

Amortization expense related to completed technology and certain other intangible assets is included in cost of sales.

Contingencies

Share-Based Compensation

Share-Based CompensationThe Company recognizes the cost of employee services received in exchange for awards of equity or liability-based 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). The cost for liability-based instruments is remeasured accordingly each reporting period throughout the requisite service 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

Earnings (Loss) per Share (Policies)	12 Months Ended
Earnings (Loss) per Share (Policies)	Dec. 30, 2022
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. 30, 2022

Schedule of Interest Expense Incurred and Paid


	Predecessor
		Period from January 1, 2022 through June 16. 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Interest expense incurred for adequate protection payments		$	28.8	$	63.1	$	11.7
Cash paid for adequate protection payments		28.8		66.7		7.8

Fresh-Start Accounting (Tables)

12 Months Ended

Jun. 16, 2022

Dec. 30, 2022

Enterprise Value Reconciliation

The following table reconciles the enterprise value to the implied fair value of the Successor's equity as of the Effective Date:


Enterprise value	$	5,223.0
Plus: Enterprise value adjustments (1)	197.0
Adjusted enterprise value	5,420.0
Plus: Cash and cash equivalents	297.9
Plus: Non-operating assets, net (2)	178.7
Less: Fair value of debt	(3,067.2)
Less: Fair value of Opioid-Related Litigation Settlement, Acthar Gel-Related Settlement, StrataGraft PRV proceeds and Terlivaz contingent value rights	(625.8)
Successor equity value	$	2,203.6

(1)Represents incremental tax benefits not contemplated in the projections utilized in the disclosure statement.

The following table reconciles the Company's enterprise value to its reorganization value as of the Effective Date:


Adjusted enterprise value	$	5,420.0
Plus: Cash and cash equivalents	297.9
Plus: Non-operating assets, net	178.7
Plus: Current liabilities (excluding debt or debt-like items)	522.5
Plus: Other non-current liabilities (excluding debt or debt-like items)	183.2
Reorganization value of Successor assets	$	6,602.3

Fresh-Start Four Column Balance Sheet

The four-column consolidated balance sheet as of June 16, 2022 is as follows:


	Predecessor		Reorganization Adjustments			Fresh-Start Adjustments			Successor
Assets
Current Assets:
Cash and cash equivalents	$	1,392.6	$	(1,094.7)	(a)	$	—		$	297.9
Accounts receivable, less allowance for doubtful accounts	387.4		—			—			387.4
Inventories	375.2		—			851.8		(q)	1,227.0
Prepaid expenses and other current assets	322.6		75.3		(b)	(58.3)		(r)	339.6
Current asset held for sale	—		—			100.0		(j)	100.0
Total current assets	2,477.8		(1,019.4)			893.5			2,351.9
Property, plant and equipment, net	748.6		—			(299.2)		(s)	449.4
Intangible assets, net	5,166.6		—			(2,014.4)		(t)	3,152.2
Deferred income taxes	—		—			453.4		(l)	453.4
Other assets	222.8		(3.9)		(c)	(23.5)		(u)	195.4
Total Assets	$	8,615.8	$	(1,023.3)		$	(990.2)		$	6,602.3

Liabilities and Shareholders' Equity
Current Liabilities:
Current maturities of long-term debt	$	1,389.9	$	(1,355.2)	(d)	$	—		$	34.7
Accounts payable	156.4		(53.8)		(e)	—			102.6
Accrued payroll and payroll-related costs	71.4		—			—			71.4
Accrued interest	20.8		(13.0)		(f)	—			7.8
Acthar Gel-Related Settlement	—		16.5		(g)	—			16.5
Opioid-Related Litigation Settlement	—		200.0		(h)	—			200.0
Accrued and other current liabilities	296.1		50.8		(i)	(6.1)		(v)	340.8
Current liability held for sale	—		35.0		(j)	—			35.0
Total current liabilities	1,934.6		(1,119.7)			(6.1)			808.8
Long-term debt	—		3,050.9		(d)	(18.4)		(w)	3,032.5
Acthar Gel-Related Settlement	—		63.2		(g)	—			63.2
Opioid-Related Litigation Settlement liability	—		304.3		(h)	—			304.3
Pension and postretirement benefits	27.6		27.2		(k)	—			54.8
Environmental liabilities	37.1		—			—			37.1
Deferred income taxes	20.4		102.7		(l)	(121.7)		(l)	1.4
Other income tax liabilities	75.9		—			(61.9)		(x)	14.0
Other liabilities	68.6		23.6		(m)	(9.6)		(v)	82.6
Liabilities subject to compromise	6,402.7		(6,402.7)		(n)	—			—
Total Liabilities	8,566.9		(3,950.5)			(217.7)			4,398.7
Shareholders' Equity:
Predecessor preferred shares	—		—			—			—
Predecessor ordinary A shares	—		—			—			—
Predecessor ordinary shares	18.9		(18.9)		(o)	—			—
Successor ordinary shares	—		0.1		(o)	—			0.1
Predecessor ordinary shares held in treasury	(1,616.1)		1,616.1		(o)	—			—
Predecessor additional paid-in capital	5,599.5		(5,599.5)		(o)	—			—
Successor additional paid-in capital	—		2,203.5		(o)	—			2,203.5
Predecessor accumulated other comprehensive loss	(9.9)		—			9.9		(y)	—
Retained (deficit) earnings	(3,943.5)		4,725.9		(p)	(782.4)		(z)	—
Total Shareholders' Equity	48.9		2,927.2			(772.5)			2,203.6
Total Liabilities and Shareholders' Equity	$	8,615.8	$	(1,023.3)		$	(990.2)		$	6,602.3

Reorganization Adjustments, Cash and Cash Equivalents

The table below reflects the sources and uses of cash on the Effective Date:


Sources:
Proceeds from New 1L Notes	$	637.0
Total Sources	637.0
Uses:
Payment of Predecessor revolving credit facility	(900.0)
Upfront payment of the Opioid-Related Litigation Settlement	(447.4)
Upfront payment of the Acthar Gel-Related Settlement, inclusive of settlement interest	(17.8)
Payment of secured, administrative, priority and trade claims	(26.2)
Payment of professional fees	(43.5)
Payment to fund professional fees escrow (prepaid and other current assets restricted cash)	(89.0)
Payment of general unsecured claims	(135.0)
Payment of noteholder consent fees	(19.3)
Payment of costs, fees and expenses related to exit-financing activities, an exit fee associated with senior secured loans and accrued and unpaid interest on certain pre-emergence debt	(53.5)
Total Uses	(1,731.7)
Net Uses of Cash	$	(1,094.7)

Adjustment Adjustment, Current Liabilities

The following table reconciles reorganization adjustments to accrued and other current liabilities:


Severance - Exiting Chief Executive Officer ("CEO")	$	5.7
Reinstatement of various successor obligations from LSTC	15.4
Success fees for professionals incurred on Effective Date	29.7
	$	50.8

Reorganization Adjustments, Liabilities Subject to Compromise

LSTC were settled as follows in accordance with the Plan (in millions):


Liabilities subject to compromise
Accounts payable	$	17.7
Accrued interest	35.2
Debt	3,746.2
Environmental liabilities	67.2
Acthar Gel-Related Settlement liability	630.0
Opioid-Related Litigation Settlement liability	1,722.4
Other current and non-current liabilities	151.6
Pension and postretirement benefits	32.4
Total liabilities subject to compromise	$	6,402.7

To be reinstated on the Effective Date:
Accounts payable	$	(0.1)

Other current and non-current liabilities	(27.3)
Pension and postretirement benefits	(32.4)
Total liabilities reinstated	$	(59.8)

Consideration provided to settle amounts per the Plan
Issuance of Successor common stock	$	(2,189.7)
Issuance of Opioid Warrants	(13.9)
Issuance of Takeback Term Loans and New 2L Notes	(1,778.3)
Acthar Gel-Related Settlement liability	(79.7)
Opioid-Related Litigation Settlement liability	(504.3)
Issuance of Takeback 2L Notes to holders of the Guaranteed Unsecured Notes	(190.2)
Contingent liabilities for proceeds of sale of StrataGraft PRV and Terlivaz CVR	(41.8)
Cash payment	(601.3)
Total consideration provided to settle amounts per the Plan	$	(5,399.2)

Gain on settlement of liabilities subject to compromise	$	943.7

Reorganization Adjustment, Equity

Pursuant to the Plan, as of the Effective Date, all Predecessor's preferred and ordinary shares were cancelled without any distribution. The following table reconciles reorganization adjustments made to Successor common stock, Opioid Warrants and additional paid in capital:


Par value of 13,170,932 shares of Successor Common Stock issued to former holders of the Guaranteed Unsecured Notes (par valued at $0.01 dollars per share)	$	0.1
Fair value of Opioid Warrants issued to holders of the Guaranteed Unsecured Notes (1)	13.9
Additional paid in capital - Successor Common Stock	2,189.6
Successor equity	$	2,203.6

Reorganization, Retained Deficit

Retained deficit - The cumulative effect of the consummation of the Plan on the Predecessor's retained deficit is as follows:


Gain on settlement of LSTC	$	943.7
Professional, success and exit fees	(91.6)
Release of prepaid success fee	(10.9)
Release of prepaid insurance (1)	(9.2)
Accrual of severance for former CEO	(5.7)
Income tax expense on plan adjustments	(102.7)
Cancellation of Predecessor equity	4,002.3
Net impact on retained deficit	$	4,725.9

(1) Write off of prepaid expenses related to premiums for the Predecessor Company's directors' and officers' insurance policy.

Fresh-Start Adjustments, Retained Deficit

The cumulative effect of the fresh-start accounting on the Successor's retained deficit is as follows:


Fresh-start adjustment:
Inventories	$	851.8
Property, plant and equipment, net	(299.2)
Intangible assets, net	(2,014.4)
Current asset held for sale	100.0
Debt	18.4
Other assets and liabilities	(11.2)
Total fresh-start adjustments impacting reorganization items, net	(1,354.6)
Fresh-start adjustments to accumulated other comprehensive income, net of $0.3 million of tax benefit	(9.9)
Total fresh-start adjustments recorded to income tax benefit	582.1
Net fresh-start impact to accumulated deficit	$	(782.4)

Reorganization Adjustments, Debt

Fair value adjustments to the carrying value of debt instruments impacted by the Plan as determined by the Black-Derman-Toy model as follows:


2017 Replacement Term Loan	$	(169.4)
2018 Replacement Term Loan	(42.2)
New 2L Notes	(95.7)
Takeback 2L Notes	(184.8)
Total fair value adjustment to debt instruments	$	(492.1)

Schedule of Debtor Reorganization Items, net

Reorganization items, net, were comprised of the following:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Gain on settlements of LSTC	$	—	$	(943.7)	$	—	$	—
Loss on fresh-start adjustments	—		1,354.6		—		—
Professional and other service provider fees	23.2		161.1		405.6		51.1
Success fees for professional service providers	—		44.3		—		—
Write off of prepaid premium for directors and officers' insurance policies	—		9.2		—		—
Debt valuation adjustments	—		—		23.1		10.2
Adjustments of other claims	—		5.4		(0.5)		0.1

Total reorganization items, net	$	23.2	$	630.9	$	428.2	$	61.4

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 30, 2022

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 30, 2022 (Successor) were the following:


Completed technology	3	to	20 years

Shipping and Handling Cost

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Shipping costs	$	13.9	$	12.8	$	23.6	$	20.1

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 30, 2022

Revenue from Contract with Customer [Abstract]

Sales Reserves Rollforward

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


	Rebates and Chargebacks (1)		Product Returns		Other Sales Deductions		Total
Balance as of December 27, 2019 (Predecessor)	$	295.8	$	28.4	$	13.2	$	337.4
Provisions	2,065.9		28.9		59.5		2,154.3
Provision for Medicaid lawsuit (2)	536.0		—		—		536.0
Payments or credits	(2,701.2)		(30.7)		(60.4)		(2,792.3)
Balance as of December 25, 2020 (Predecessor)	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 (Predecessor)	241.8		21.5		9.5		272.8
Provisions	693.4		5.2		17.1		715.7
Payments or credits	(684.6)		(8.1)		(18.9)		(711.6)
Balance as of June 16, 2022 (Predecessor)	$	250.6	$	18.6	$	7.7	$	276.9


Balance as of June 17, 2022 (Successor)	$	250.6	$	18.6	$	7.7	$	276.9
Provisions	804.4		7.0		36.7		848.1
Payments or credits	(789.7)		(9.6)		(31.7)		(831.0)
Balance as of December 30, 2022 (Successor)	$	265.3	$	16.0	$	12.7	$	294.0

Disaggregation of Revenue

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Product sales transferred at a point in time	83.0	%	80.8	%	79.4	%	78.9	%
Product sales transferred over time	17.0		19.2		20.6		21.1

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Transaction price allocated to the remaining performance obligations


Fiscal 2023	$	115.4
Fiscal 2024	23.5
Thereafter	2.7

Disaggregation of Revenue - Royalty

The associated royalty revenue recognized was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Royalty revenue	$	36.2	$	34.9	$	102.4	$	70.3

Restructuring and Related Charges (Tables)

12 Months Ended

Dec. 30, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Charges by Segment

Net restructuring and related charges by segment were as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Specialty Brands	$	—	$	—	$	0.1	$	0.1
Specialty Generics	0.8		3.5		4.9		0.1
Corporate	11.3		6.1		24.0		49.6
Restructuring and related charges, net	12.1		9.6		29.0		49.8
Less: accelerated depreciation	(1.0)		—		(2.1)		(12.3)
Restructuring charges, net	$	11.1	$	9.6	$	26.9	$	37.5

Schedule of Net Restructuring and Related Charges

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
2018 Program	$	12.1	$	9.6	$	29.0	$	52.0
2016 Program	—		—		—		(0.3)
Acquisition programs	—		—		—		(1.9)
Total programs	12.1		9.6		29.0		49.8
Less: non-cash charges, including accelerated depreciation	(2.2)		(3.6)		(6.3)		(23.8)
Total charges expected to be settled in cash	$	9.9	$	6.0	$	22.7	$	26.0

Schedule of Restructuring Reserves by Type of Cost


	2018 Program		2016 Program		Acquisition Programs		Total
Balance as of December 27, 2019 (Predecessor)	$	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 (1)	(10.0)		—		—		(10.0)
Currency translation and other	0.2		(0.3)		1.9		1.8
Balance as of December 25, 2020 (Predecessor)	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 (Predecessor)	10.9		—		—		10.9
Charges from continuing operations	7.1		—		—		7.1
Changes in estimate from continuing operations	(1.1)		—		—		(1.1)
Cash payments	(15.9)		—		—		(15.9)


Balance as of June 16, 2022 (Predecessor)	$	1.0	$	—	$	—	$	1.0


Balance as of June 17, 2022 (Successor)	$	1.0	$	—	$	—	$	1.0
Charges from continuing operations	12.7		—		—		12.7
Changes in estimate from continuing operations	(2.8)		—		—		(2.8)
Cash payments	(6.3)		—		—		(6.3)


Balance as of December 30, 2022 (Successor)	$	4.6	$	—	$	—	$	4.6

(1)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 30, 2022 (Successor), net restructuring and related charges incurred cumulative to date for the 2018 Program were as follows:


	Successor		Predecessor

Specialty Brands	$	—	$	3.1
Specialty Generics	0.8		18.5
Corporate	11.3		84.0
	$	12.1	$	105.6

Income Taxes (Tables)

12 Months Ended

Dec. 30, 2022

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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Domestic	$	(359.4)	$	(2,883.3)	$	(512.2)	$	(656.9)
International	(290.9)		2,072.0		(317.6)		(303.9)
Total	$	(650.3)	$	(811.3)	$	(829.8)	$	(960.8)

(1) Domestic reflects Ireland.

Schedule of Significant Components of Income Taxes Related to Continuing Operations

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Current:
Domestic	$	(32.8)	$	33.7	$	(33.7)	$	0.1
International	5.7		(57.6)		(12.7)		(375.4)
Current income tax (benefit) provision	(27.1)		(23.9)		(46.4)		(375.3)
Deferred:
Domestic	(44.6)		(82.3)		(59.5)		102.2
International	19.7		(391.1)		(0.4)		282.0
Deferred income tax (benefit) provision	(24.9)		(473.4)		(59.9)		384.2
Total	$	(52.0)	$	(497.3)	$	(106.3)	$	8.9

(1) Domestic reflects Ireland.

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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Benefit for income taxes at domestic statutory income tax rate (1)	$	(81.3)	$	(101.4)	$	(103.7)	$	(120.1)
Adjustments to reconcile to income tax provision:
Rate difference between domestic and international jurisdictions	(4.7)		226.5		(224.9)		(315.3)
Adjustments to accrued income tax liabilities and uncertain tax positions (2)	—		—		(9.7)		16.7


Credits, principally research and orphan drug	—		(0.9)		(4.7)		(11.2)

Permanently nondeductible and nontaxable items (3)	3.1		(1.7)		9.8		2.8
Emergence	—		(31.6)		—		—
Withholding tax on Swiss distribution	4.7		—		—		—
U.S. Tax Reform (4)	—		—		—		(281.5)
Legal entity reorganization (5)	—		—		—		82.0
Separation costs	—		—		—		8.4
Reorganization items, net	1.7		15.7		36.9		8.8
Other	(1.4)		(3.1)		0.3		0.1
Valuation allowances (6)	25.9		(600.8)		189.7		618.2
(Benefit) provision for income taxes	$	(52.0)	$	(497.3)	$	(106.3)	$	8.9

(1)The statutory tax rate reflects the Irish statutory tax rate of 12.5%.

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

(3)For fiscal 2021 (Predecessor), the permanently nondeductible and nontaxable item were primarily driven by the opioid-related litigation settlement loss.

(4)For fiscal 2020 (Predecessor), the Company recognized a tax benefit as a result of the CARES Act. Associated unrecognized tax benefit and valuation allowance are netted within this line.

(5)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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Balance at beginning of period	$	24.8	$	333.5	$	349.0	$	398.6
Additions related to current year tax positions	—		—		—		71.1
Additions related to prior period tax positions	—		—		9.3		9.8
Reductions related to prior period tax positions	—		(306.1)		(2.8)		(14.2)

Settlements	—		(2.6)		(0.2)		(80.3)
Lapse of statutes of limitations	—		—		(21.8)		(36.0)
Balance at end of period	$	24.8	$	24.8	$	333.5	$	349.0

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:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Other assets (1)	$	—	$	255.7
Deferred income tax asset	9.4		—
Other income tax liabilities	15.4		64.1
Deferred income tax liability	—		13.7
	$	24.8	$	333.5

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:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Accrued and other current liabilities	$	3.6	$	1.7
Other income tax liabilities	18.2		83.2
	$	21.8	$	84.9

Schedule of Income Tax Receivables and Other Assets

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


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Other assets	$	—	$	141.3
Prepaid expenses and other current assets	179.5		36.5
	$	179.5	$	177.8

Schedule of Deferred Taxes Activity

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


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Deferred tax assets:


Tax loss and credit carryforward	$	3,646.0	$	4,147.5
Capital tax loss carryforward and related assets	1,412.6		1,605.0
Intangible assets	278.4		—
Opioid-Related Litigation Settlement liability	111.7		294.7
Excess interest	84.0		159.5
Other	159.8		292.2
	5,692.5		6,498.9
Deferred tax liabilities:

Intangible assets	—		(108.5)

Investment in partnership	(67.4)		(67.1)
Other	(157.0)		—
	(224.4)		(175.6)
Net deferred tax asset before valuation allowances	5,468.1		6,323.3
Valuation allowances	(4,992.9)		(6,344.2)
Net deferred tax asset (liability)	$	475.2	$	(20.9)

Schedule of Deferred Tax Assets and Liabilities on Balance Sheet

Deferred taxes were included in the following consolidated balance sheet captions in the amounts shown:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Deferred income tax asset	$	475.5	$	—
Deferred income tax liability	(0.3)		(20.9)
Net deferred tax asset (liability)	$	475.2	$	(20.9)

Earnings (Loss) per Share (Tables)

12 Months Ended

Dec. 30, 2022

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):

Successor

Predecessor

Period from
June 17, 2022
through
December 30, 2022

Period from
January 1, 2022
through
June 16, 2022

Year Ended December 31, 2021

Year Ended December 25, 2020

Basic

13.2

84.8

84.7

84.5

Inventories (Tables)

12 Months Ended

Dec. 30, 2022

Inventory, Net [Abstract]

Schedule of Inventories

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


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Raw materials	$	80.2	$	59.8
Work in process	552.1		196.4
Finished goods	315.3		91.0
Inventories	$	947.6	$	347.2

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 30, 2022

Property, Plant and Equipment [Line Items]

Depreciation of Property, Plant and Equipment

Depreciation expense was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Depreciation expense	$	28.8	$	40.0	$	94.7	$	114.0

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:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Land	$	51.0	$	43.5
Buildings	127.2		387.8
Capitalized software	17.5		121.1
Machinery and equipment	216.8		1,254.1
Construction in process	72.5		80.1
	485.0		1,886.6
Less: accumulated depreciation	(27.4)		(1,110.6)
Property, plant and equipment, net	$	457.6	$	776.0

Leases (Tables)

12 Months Ended

Dec. 30, 2022

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:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Other assets	$	38.1	$	35.0

Accrued and other current liabilities	$	10.3	$	11.1
Other liabilities	30.4		20.0
Other current and non-current liabilities subject to compromise	—		0.4
Total lease liabilities	$	40.7	$	31.5

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:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Lease cost:
Operating lease cost	$	7.9	$	8.7	$	19.6	$	21.2
Short-term lease cost	1.6		0.4		1.1		1.1
Variable lease cost	1.5		1.2		2.4		3.1
Total lease cost	$	11.0	$	10.3	$	23.1	$	25.4

Lessee, Operating Lease, Liability, Maturity

Contractual maturities of operating lease liabilities as of December 30, 2022 (Successor) were as follows:


Fiscal 2023	$	14.9
Fiscal 2024	12.0
Fiscal 2025	7.9
Fiscal 2026	5.0
Fiscal 2027	3.2
Thereafter	18.3
Total lease payments	61.3
Less: Interest	(20.6)
Present value of lease liabilities	$	40.7

Lessee, Operating Lease, Lease Terms

Lease terms and discount rates were as follows:


	Successor		Predecessor
	December 30, 2022		December 31, 2021
Weighted-average remaining lease term (in years) - operating lease	6.7		5.7
Weighted-average discount rate - operating leases	11.9	%	4.4	%

Lessee, Operating Lease, Cash Flow Information

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9.2	$	9.4	$	20.4	$	23.1
Lease assets obtained in exchange for lease obligations:
Operating leases	7.1		13.4		2.6		6.9

Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 16, 2022

Dec. 30, 2022

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:


	Successor				Predecessor
	December 30, 2022				December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable:
Completed technology	$	3,041.2	$	318.7	$	10,404.0	$	5,160.4
License agreements	—		—		120.1		82.1
Trademarks	—		—		77.7		26.9


Total	$	3,041.2	$	318.7	$	10,601.8	$	5,269.4
Non-Amortizable:
Trademarks	$	—			$	35.0
In-process research and development	121.3				81.0
Total	$	121.3			$	116.0

Finite-lived Intangible Assets Amortization Expense

Intangible asset amortization expense was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Amortization expense	$	318.7	$	281.8	$	581.1	$	771.2

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 30, 2022 (Successor), is expected to be as follows:


Fiscal 2023	$	509.3
Fiscal 2024	446.1
Fiscal 2025	385.1
Fiscal 2026	337.5
Fiscal 2027	284.4

Schedule of Intangible Assets and Goodwill

Intangible assets of the Successor as of the Effective Date consisted of the following:


	Carrying Amount		Amortization Method	Amortization Period (in years)	Discount Rate	Segment
Amortizable completed technology:
Acthar Gel	$	1,069.0	Sum of the years digits	13.5	14.2%	Specialty Brands
Therakos	913.8		Sum of the years digits	10.0	14.0	Specialty Brands
Amitiza	84.5		Sum of the years digits	3.0	14.0	Specialty Brands
INOmax	652.9		Sum of the years digits	9.0	14.0	Specialty Brands
StrataGraft	56.8		Straight-line	11.0	14.0	Specialty Brands
Generics	71.4		Straight-line	5.0	13.3	Specialty Generics
APAP	70.5		Straight-line	20.5	13.0	Specialty Generics
	2,918.9

Non-Amortizable in-process research and development:
Terlivaz (1)	104.8		Straight-line	7.0	15.0	Specialty Brands
Generics IPR&D	128.5		Not applicable	Not applicable	14.0	Specialty Generics
	233.3
	$	3,152.2

Debt (Tables)

12 Months Ended

Dec. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

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


	Successor						Predecessor
	December 30, 2022						December 31, 2021
	Principal		Carrying Value (1)		Unamortized Discount and Debt Issuance Costs (1)		Principal		Unamortized Discount and Debt Issuance Costs
10.00% first lien senior secured notes due April 2025	$	495.0	$	475.9	$	—	$	495.0	$	5.9
10.00% second lien senior secured notes due April 2025	321.9		242.2		—		—		—
2017 Replacement Term loan due September 2027	1,374.1		1,222.1		—		—		—
2018 Replacement Term loan due September 2027	364.8		326.9		—		—		—
11.50% first lien senior secured notes due December 2028	650.0		650.0		20.8		—		—
10.00% second lien senior secured notes due June 2029	328.3		175.5		—		—		—
Revolving credit facility due February 2022	—		—		—		900.0		0.2
9.50% debentures due May 2022	—		—		—		10.4		—
5.75% senior notes due August 2022	—		—		—		610.3		—
8.00% debentures due March 2023	—		—		—		4.4		—
4.75% senior notes due April 2023	—		—		—		133.7		—
5.625% senior notes due October 2023	—		—		—		514.7		—
Term loan due September 2024	—		—		—		1,396.5		—
Term loan due February 2025	—		—		—		370.7		—
10.00% second lien senior notes due April 2025	—		—		—		322.9		—
5.50% senior notes due April 2025	—		—		—		387.2		—
Total debt	3,534.1		3,092.6		20.8		5,145.8		6.1
Less: Current portion	(44.1)		(44.1)		—		(1,395.0)		(6.1)
Less: Amounts reclassified to liabilities subject to compromise	—		—		—		(3,750.8)		—
Total long-term debt, net of current portion	$	3,490.0	$	3,048.5	$	20.8	$	—	$	—

Schedule of Applicable Interest Rate on Variable-rate Debt

As of December 30, 2022 (Successor), the applicable interest rate and outstanding principal on the Company's debt instruments were as follows:


	Applicable interest rate		Outstanding principal
Fixed-rate instruments	10.54	%	$	1,795.2
2017 Replacement Term Loan due September 2027	9.99		1,374.1
2018 Replacement Term Loan due September 2027	10.24		364.8

Schedule of Maturities of Long-term Debt

The Company's stated long-term debt principal maturity amounts as of December 30, 2022 are as follows:


Fiscal 2023	$	44.1
Fiscal 2024	33.0
Fiscal 2025	861.0
Fiscal 2026	44.0
Fiscal 2027	1,573.7

Share Plans (Tables)

12 Months Ended

Dec. 30, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Share Option Activity

Share option activity and information was as follows:


	Share Options	Weighted-Average Exercise Price




Outstanding as of December 27, 2019 (Predecessor)	6,890,700	36.39
Expired/Forfeited	(820,988)	39.65
Outstanding as of December 25, 2020 (Predecessor)	6,069,712	35.95


Expired/Forfeited	(516,193)	45.63
Outstanding as of December 31, 2021 (Predecessor)	5,553,519	35.05
Expired/Forfeited	(5,553,519)	35.05
Outstanding as of June 16, 2022 (Predecessor)	—	—

Schedule of Restricted Share Unit Activity

RSU activity was as follows:


	Shares	Weighted-Average Grant-Date Fair Value




Non-vested as of 12/27/2019 (Predecessor)	1,419,020	22.68

Exercised	(647,167)	24.23
Expired/Forfeited	(281,182)	22.11
Non-vested as of 12/25/2020 (Predecessor)	490,671	20.96

Exercised	(186,930)	23.43
Expired/Forfeited	(60,844)	19.58
Non-vested as of 12/31/2021 (Predecessor)	242,897	19.40
Expired/Forfeited	(242,897)	19.40
Non-vested as of June 16, 2022 (Predecessor)	—	—


Non-vested as of June 17, 2022 (Successor)	—	—
Granted	890,485	12.03
Non-vested as of December 30, 2022 (Successor)	890,485	12.03

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 27, 2019 (Predecessor)	1,195,505	23.85

Forfeited	(1,195,505)	23.85

Non-vested as of December 25, 2020 (Predecessor)	—	—


Non-vested as of June 17, 2022 (Successor)	—	—
Granted	675,821	8.34
Non-vested as of December 30, 2022 (Successor)	675,821	8.34

(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 the period June 17, 2022 through December 30, 2022 (Successor) were as follows:




Expected stock price volatility	38.9	%
Peer group stock price volatility	128.0
Correlation of returns	24.4

Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 30, 2022

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 30, 2022 (Successor)		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	$	36.6	$	24.8	$	11.8	$	—
Equity securities	25.5		25.5		—		—
	$	62.1	$	50.3	$	11.8	$	—
Liabilities:
Deferred compensation liabilities	$	26.0	$	—	$	26.0	$	—
Contingent consideration liabilities	7.3		—		—		7.3

	$	33.3	$	—	$	26.0	$	7.3


	December 31, 2021 (Predecessor)		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

Schedule of Reconciliation of Changes in Fair Value of Contingent Consideration

The following table summarizes the fiscal 2022 activity for contingent consideration:


Balance as of December 31, 2021(Predecessor)	$	27.3





Impact of the Plan on Predecessor contingent consideration liabilities	(27.3)
Establishment of Terlivaz CVR	6.8
Balance as of June 16, 2022 (Successor)	$	6.8


Balance as of June 17, 2022 (Successor)	$	6.8




Fair value adjustments	0.5
Balance as of December 30, 2022 (Successor)	$	7.3

Schedule of Carrying Amount and Fair Value of Long-term Debt


	Successor				Predecessor
	December 30, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Level 1:
10.00% first lien senior secured notes due April 2025	$	475.9	$	425.9	$	495.0	$	523.7
10.00% second lien senior secured notes due April 2025	242.2		216.8		—		—
11.50% first lien senior secured notes due December 2028	650.0		552.6		—		—
10.00% second lien senior secured notes due June 2029	175.5		176.7		—		—
Revolving credit facility due February 2022	—		—		900.0		900.0
5.75% senior notes due August 2022	—		—		610.3		324.1
4.75% senior notes due April 2023	—		—		133.7		48.9
5.625% senior notes due October 2023	—		—		514.7		279.1
10.00% second lien senior secured notes due April 2025	—		—		322.9		312.7
5.50% senior notes due April 2025	—		—		387.2		211.6

Level 2:
2017 Replacement Term loan due September 2027	1,222.1		1,037.8		—		—
2018 Replacement Term loan due September 2027	326.9		274.8		—		—
9.50% debentures due May 2022	—		—		10.4		7.7
8.00% debentures due March 2023	—		—		4.4		3.2
Term loan due September 2024	—		—		1,396.5		1,309.2
Term loan due February 2025	—		—		370.7		347.7
Total Debt	$	3,092.6	$	2,684.6	$	5,145.8	$	4,267.9

Schedules of Concentration of Risk

Successor

Predecessor

Period from
June 17, 2022
through
December 30, 2022

Period from
January 1, 2022
through
June 16, 2022

Year Ended December 31, 2021

Year Ended December 25, 2020

FFF Enterprises, Inc.

26.1

11.8

CuraScript, Inc.

15.6

26.1

27.4

* 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:

Successor

Predecessor

December 30,
2022

December 31,
2021

AmerisourceBergen Corporation

23.3%

30.0%

McKesson Corporation

17.3

15.0

FFF Enterprises, Inc.

16.2

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.


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Acthar Gel	28.3	%	25.4	%	26.9	%	27.9	%
INOmax	16.7		19.0		20.3		20.9
Therakos	12.5		12.5		12.1		*
APAP	10.7		11.0		*		*
Ofirmev	*		*		*		10.1

Segment and Geographical Data (Tables)

12 Months Ended

Dec. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Business Segment

Selected information by reportable segment was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Net sales:
Specialty Brands (1)	$	682.4	$	587.1	$	1,547.0	$	2,059.6
Specialty Generics	357.3		287.5		661.8		689.8
Segment net sales	1,039.7		874.6		2,208.8		2,749.4
Medicaid lawsuit (1)	—		—		—		(536.0)
Net sales	$	1,039.7	$	874.6	$	2,208.8	$	2,213.4
Operating loss:
Specialty Brands	$	113.8	$	267.2	$	812.8	$	1,015.7
Specialty Generics (2)	(3.6)		65.3		107.9		206.4
Segment operating income	110.2		332.5		920.7		1,222.1
Unallocated amounts:
Corporate and unallocated expenses (3)	(39.3)		(48.2)		(129.6)		(166.1)
Depreciation and amortization	(347.5)		(321.8)		(675.8)		(885.2)
Share-based compensation	(1.4)		(1.7)		(10.2)		(25.3)
Restructuring charges, net	(11.1)		(9.6)		(26.9)		(37.5)
Non-restructuring impairment charges	—		—		(154.9)		(63.5)
Separation costs (4)	(21.2)		(9.0)		(1.2)		(93.4)
R&D upfront payment (5)	—		—		—		(5.0)
Opioid-related litigation settlement gain (loss)	—		—		(125.0)		43.4
Medicaid lawsuit (1)	—		—		—		(641.1)
Bad debt expense - customer bankruptcy	(6.4)		—		—		—
Operating loss	$	(316.7)	$	(57.8)	$	(202.9)	$	(651.6)

Depreciation and amortization:
Specialty Brands	$	323.6	$	288.4	$	597.7	$	799.3
Specialty Generics	23.9		33.4		78.1		85.9
	$	347.5	$	321.8	$	675.8	$	885.2

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

(5)Represents R&D expense incurred related to an upfront payment made to acquire product rights in Japan for Terlivaz during fiscal 2020.

Schedule of Net Sales from External Customers by Products

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


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Acthar Gel (1)	$	294.1	$	221.9	$	593.6	$	767.9
INOmax	173.9		165.8		448.5		574.1
Ofirmev	(0.3)		2.5		28.9		276.5
Therakos	130.5		109.6		266.5		238.6
Amitiza (2)	77.1		81.5		196.9		188.8
Other	7.1		5.8		12.6		13.7
Specialty Brands	682.4		587.1		1,547.0		2,059.6

Opioids	117.9		88.8		213.2		233.9
ADHD	28.4		17.5		37.4		48.3
Addiction treatment	35.0		30.0		68.3		68.9
Other	6.8		4.9		12.0		7.3
Generics	188.1		141.2		330.9		358.4
Controlled substances	47.0		37.6		93.4		98.3
APAP	111.4		96.5		215.9		213.0
Other	10.8		12.2		21.6		20.1
API	169.2		146.3		330.9		331.4
Specialty Generics	357.3		287.5		661.8		689.8
Segment net sales	1,039.7		874.6		2,208.8		2,749.4
Medicaid lawsuit	—		—		—		(536.0)
Net Sales	$	1,039.7	$	874.6	$	2,208.8	$	2,213.4

(1)Fiscal 2020 (Predecessor) includes the prospective change to the Medicaid rebate calculation of $40.4 million for the period from June 15, 2020 through December 25, 2020 (Predecessor).

(2)Amitiza net sales consist of both product and royalty net sales. Refer to Note 5 for further details on Amitiza's revenues.

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

Selected information by geographic area was as follows:


	Successor		Predecessor
	Period from June 17, 2022 through December 30, 2022		Period from January 1, 2022 through June 16, 2022		Year Ended December 31, 2021		Year Ended December 25, 2020
Net sales (1):
U.S.	$	928.3	$	784.2	$	1,991.8	$	2,465.5
Europe, Middle East and Africa	100.4		73.6		181.8		227.5
Other	11.0		16.8		35.2		56.4
Geographic area net sales	1,039.7		874.6		2,208.8		2,749.4
Medicaid lawsuit	—		—		—		(536.0)
Net Sales	$	1,039.7	$	874.6	$	2,208.8	$	2,213.4

(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.

^[1]

[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.

Background and Basis of Presentation (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 30, 2022	Jun. 16, 2022
Schedule of Basis of Presentation [Line Items]
Change in Estimate, Fresh-Start, Amount recognized	$ 30.0
Inventory Turns
Schedule of Basis of Presentation [Line Items]
Change in Estimate, Fresh-Start		$ 20.5
Change in Estimate, Fresh-Start, Amount recognized	$ 19.9
Asbestos-related liability
Schedule of Basis of Presentation [Line Items]
Change in Accounting Policy, Fresh-Start		22.8
Indemnification receivable
Schedule of Basis of Presentation [Line Items]
Change in Accounting Policy, Fresh-Start		$ 20.3

Bankruptcy (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 16, 2022	Oct. 12, 2020	Sep. 30, 2022	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Reorganizations [Line Items]
Restructuring Support Agreement, Common Stock Share Percentage Reorganized New Company	100.00%				100.00%
Cash paid for interest				$ 164.1	$ 111.5	$ 243.2	$ 256.1
Accrued interest				29.0		17.0
Interest Protection Payment, Expense					$ 28.8	63.1	11.7
Debt instrument, face amount				3,534.1
Class of Warrant or Right, Outstanding	3,290,675				3,290,675
Opioid Warrants, Par value	$ 0.01				$ 0.01
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 103.40				$ 103.40
Acthar Gel-Related Settlement, Current	$ 260.0				$ 260.0
Acthar Gel-Related Settlement, Term	7 years				7 years
Acthar Gel-Related Settlement, Upfront Payment	$ 15.0				$ 15.0
Acthar Gel-Related Settlement, Payment Year One	15.0				15.0
Acthar Gel-Related Settlement, Payment Year Two and Three	20.0				20.0
Acthar Gel-Related Settlement, Payment Year Six and Seven	62.5				62.5
Settlement of General Unsecured Claims	135.0				135.0
Payments for Repurchase of Warrants				4.0
Issuance of external debt	650.0			0.0	650.0	0.0	0.0
Acthar Gel-Related Settlement, Payment Year Four and Five	32.5				32.5
StrataGraft PRV
Reorganizations [Line Items]
Other Indefinite-lived Intangible Assets	100.0				100.0
StrataGraft PRV \| Mallinckrodt
Reorganizations [Line Items]
Proceeds from Sale of Intangible Assets			$ 65.0	65.0
StrataGraft PRV \| General Unsecured Claims Trust
Reorganizations [Line Items]
Proceeds from Sale of Intangible Assets			$ 35.0	35.0
Terlipressin Contingent Consideration
Reorganizations [Line Items]
Contingent consideration	20.0				20.0
Terlipressin Contingent Consideration \| Terlipressin [Member]
Reorganizations [Line Items]
Revenue from Customer, Cumulative Threshold	100.0				100.0
Reorganization, Chapter 11, Plan Effect Adjustment
Reorganizations [Line Items]
Accrued interest	(13.0)				(13.0)
Acthar Gel-Related Settlement, Current	16.5				16.5
Payment for Debt Extinguishment or Debt Prepayment Cost	(900.0)
Contingent consideration	$ (41.8)				$ (41.8)
Ordinary shares, shares issued (in shares)	13,170,932				13,170,932
Reorganization, Chapter 11, Plan Effect Adjustment \| StrataGraft PRV \| General Unsecured Claims Trust
Reorganizations [Line Items]
Contingent consideration	$ 35.0				$ 35.0
Secured Debt
Reorganizations [Line Items]
Restructuring Support Agreement, Proposed Long-Term Debt	$ 375.0				375.0
Debt Instrument, Interest Rate, Increase (Decrease)		200.00%
Interest Protection Payment, Paid					$ 28.8	66.7	7.8
Term Loans due Sept 2024 and Feb 2025 [Member]
Reorganizations [Line Items]
Debt Instrument, Interest Rate, Increase (Decrease)		250.00%
5.75% senior notes due August 2022
Reorganizations [Line Items]
Debt instrument, face amount				0.0
5.75% senior notes due August 2022 \| Senior Notes
Reorganizations [Line Items]
Stated interest rate	5.75%				5.75%
5.75% senior notes due August 2022 \| Senior Notes \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate	5.75%				5.75%
Five Point Six Two Five Percent Note
Reorganizations [Line Items]
Debt instrument, face amount				0.0
Five Point Six Two Five Percent Note \| Debentures
Reorganizations [Line Items]
Stated interest rate	5.625%				5.625%
Five Point Six Two Five Percent Note \| Debentures \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate	5.625%				5.625%
Five Point Five Percent Notes [Member]
Reorganizations [Line Items]
Debt instrument, face amount				0.0
Five Point Five Percent Notes [Member] \| Senior Notes
Reorganizations [Line Items]
Stated interest rate	5.50%				5.50%
Five Point Five Percent Notes [Member] \| Senior Notes \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate	5.50%				5.50%
9.50% debentures due May 2022
Reorganizations [Line Items]
Debt instrument, face amount				0.0
9.50% debentures due May 2022 \| Debentures
Reorganizations [Line Items]
Stated interest rate	9.50%				9.50%
8.00% debentures due March 2023
Reorganizations [Line Items]
Debt instrument, face amount				0.0
8.00% debentures due March 2023 \| Debentures
Reorganizations [Line Items]
Stated interest rate	8.00%				8.00%
4.75% senior notes due April 2023
Reorganizations [Line Items]
Debt instrument, face amount				0.0
4.75% senior notes due April 2023 \| Senior Notes
Reorganizations [Line Items]
Stated interest rate	4.75%				4.75%
4.75% senior notes due April 2023 \| Senior Notes \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate	4.75%				4.75%
Debentures
Reorganizations [Line Items]
Increase (Decrease) in Interest Payable, Net					$ 46.5	$ 93.0	$ 28.8
Term Loan and New Term Loan
Reorganizations [Line Items]
Debt instrument, face amount				0.0
Term Loan due 2025 [Member]
Reorganizations [Line Items]
Debt instrument, face amount				0.0
2017 Replacement Term Loan
Reorganizations [Line Items]
Debt instrument, face amount	$ 1,392.9			1,374.1	1,392.9
2017 Replacement Term Loan \| Reorganization, Chapter 11, Plan Effect Adjustment
Reorganizations [Line Items]
Debt instrument, face amount	1,392.9				1,392.9
2018 Replacement Term Loan
Reorganizations [Line Items]
Debt instrument, face amount	369.7			364.8	369.7
2018 Replacement Term Loan \| Reorganization, Chapter 11, Plan Effect Adjustment
Reorganizations [Line Items]
Debt instrument, face amount	369.7				$ 369.7
2017 Revolving Credit Facility
Reorganizations [Line Items]
Debt instrument, face amount				0.0
2017 Revolving Credit Facility \| Reorganization, Chapter 11, Plan Effect Adjustment
Reorganizations [Line Items]
Payment for Debt Extinguishment or Debt Prepayment Cost	$ 900.0
Ten Point Zero Percent First Lien Notes [Member]
Reorganizations [Line Items]
Stated interest rate	10.00%				10.00%
Debt instrument, face amount	$ 495.0			495.0	$ 495.0
Ten Point Zero Percent Second Lien Notes (Existing Notes)
Reorganizations [Line Items]
Debt instrument, face amount	$ 322.9			0.0	$ 322.9
Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Reorganizations [Line Items]
Stated interest rate	10.00%				10.00%
Debt instrument, face amount	$ 322.9			321.9	$ 322.9
Ten Point Zero Percent Second Lien Notes (New 2L Notes) \| Senior Notes
Reorganizations [Line Items]
Stated interest rate	10.00%				10.00%
Ten Point Zero Percent Second Lien Notes (New 2L Notes) \| Senior Notes \| Fair Value, Inputs, Level 1 [Member]
Reorganizations [Line Items]
Stated interest rate	10.00%				10.00%
Eleven Point Five Percent First Lien Senior Secured Notes
Reorganizations [Line Items]
Stated interest rate	11.50%				11.50%
Debt instrument, face amount				650.0
Eleven Point Five Percent First Lien Senior Secured Notes \| Senior Notes
Reorganizations [Line Items]
Stated interest rate	11.50%				11.50%
Receivables Financing Facility
Reorganizations [Line Items]
Debt instrument, face amount	$ 200.0				$ 200.0
Maximum
Reorganizations [Line Items]
Remedial cost, estimate				$ 48.5
Opioid Claimant Trust [Member]
Reorganizations [Line Items]
Opioid-related Settlement	1,725.0				1,725.0
Opioid-Related Settlement, Upfront Payment	2.6				2.6
Opioid-Related Settlement, Payment Year One and Two	200.0				200.0
Opioid-Related Settlement, Year Eight	125.0
Opioid-Related Settlement, Year Three through Seven	150.0
Opioid-Related Settlement, Upfront Payment, Prefunded Amount	450.0				450.0
Opioid Claimant Trust [Member] \| Reorganization, Chapter 11, Plan Effect Adjustment
Reorganizations [Line Items]
Opioid-related Settlement	$ 1,725.0				$ 1,725.0
Opioid Claimant Trust [Member] \| Ownership Interest [Member]
Reorganizations [Line Items]
Opioid-Related Settlement, Warrants Common Stock Share Percentage Reorganized New Company	19.99%				19.99%
Medicaid Lawsuit [Member] \| Maximum
Reorganizations [Line Items]
Remedial cost, estimate	$ 640.0				$ 640.0

Schedule of Interest Expense Incurred and Paid (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Schedule of Interest Expense Incurred and Paid [Line Items]
Interest Protection Payment, Expense	$ 28.8	$ 63.1	$ 11.7
Secured Debt
Schedule of Interest Expense Incurred and Paid [Line Items]
Interest Protection Payment, Paid	$ 28.8	$ 66.7	$ 7.8

Fresh-Start Accounting (Details) $ in Millions	Jun. 16, 2022 USD ($)
Reorganizations [Abstract]
Enterprise Value	$ 5,223.0
Reorganization, Chapter 11 [Line Items]
Enterprise Value	5,223.0
Minimum
Reorganizations [Abstract]
Enterprise Value	5,200.0
Reorganization, Chapter 11 [Line Items]
Enterprise Value	5,200.0
Minimum \| Equity
Reorganizations [Abstract]
Enterprise Value	563.0
Reorganization, Chapter 11 [Line Items]
Enterprise Value	563.0
Maximum
Reorganizations [Abstract]
Enterprise Value	5,700.0
Reorganization, Chapter 11 [Line Items]
Enterprise Value	5,700.0
Maximum \| Equity
Reorganizations [Abstract]
Enterprise Value	1,063.0
Reorganization, Chapter 11 [Line Items]
Enterprise Value	1,063.0
Median
Reorganizations [Abstract]
Enterprise Value	5,450.0
Reorganization, Chapter 11 [Line Items]
Enterprise Value	5,450.0
Median \| Equity
Reorganizations [Abstract]
Enterprise Value	813.0
Reorganization, Chapter 11 [Line Items]
Enterprise Value	$ 813.0

Fresh-Start Accounting - Implied Fair Value (Details) $ in Millions	Jun. 16, 2022 USD ($)
Reorganization, Chapter 11 [Line Items]
Enterprise Value	$ 5,223.0
Enterprise Value Adjustments	197.0
Adjusted Enterprise Value	5,420.0
Reorganization Value, Present Value of Discounted Cash Flows of Emerging Entity	2,203.6
Reorganization Value	6,602.3
Median
Reorganization, Chapter 11 [Line Items]
Enterprise Value	5,450.0
Cash and Cash Equivalents
Reorganization, Chapter 11 [Line Items]
Adjustments to Enterprise Value	297.9
Non-operating assets, net
Reorganization, Chapter 11 [Line Items]
Adjustments to Enterprise Value	178.7
Debt, fair value
Reorganization, Chapter 11 [Line Items]
Adjustments to Enterprise Value	(3,067.2)
Other Liabilities, Fair Value
Reorganization, Chapter 11 [Line Items]
Adjustments to Enterprise Value	(625.8)
Other current liabilities
Reorganization, Chapter 11 [Line Items]
Adjustments to Enterprise Value	522.5
Other Noncurrent Liabilities
Reorganization, Chapter 11 [Line Items]
Adjustments to Enterprise Value	$ 183.2

Fresh-Start Accounting - Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents	$ 409.5	$ 297.9	$ 1,345.0	$ 1,070.6
Accounts receivable, less allowance for doubtful accounts of $4.4 and $4.7	405.3		439.1
Inventory, Net	947.6		347.2
Total current assets	2,035.8		2,309.6
Property, plant and equipment, net	457.6		776.0
Intangible Assets, Net (Excluding Goodwill)	2,843.8		5,448.4
Other assets	201.1		382.3
Assets	6,013.8		8,916.3
Current maturities of long-term debt	44.1		1,388.9
Accounts Payable, Current	114.0		123.0
Accrued payroll and payroll-related costs	49.5		84.6
Accrued interest	29.0		17.0
Acthar Gel-Related Settlement, Current		260.0
Opioid-Related Litigation Settlement liability, Current	200.0		0.0
Accrued and other current liabilities	290.7		328.7
Total current liabilities	743.8		1,942.2
Long-term debt	3,027.7		0.0
Opioid-Related Litigation Settlement liability, Non-current	379.9		0.0
Pension and postretirement benefits	41.0		30.1
Environmental liabilities	35.8		43.0
Deferred income taxes	224.4		175.6
Other income tax liabilities	18.2		83.2
Other Liabilities, Noncurrent	78.4		85.8
Liabilities subject to compromise	0.0		6,397.7
Liabilities	4,400.1		8,602.9
Ordinary shares held in treasury at cost, none and 9,569,645	0.0		(1,616.1)
Additional paid-in capital	2,191.0		5,597.8
Accumulated Other Comprehensive Income (Loss), Net of Tax	10.8		(8.3)
Retained deficit	(588.2)		(3,678.9)
Shareholders' equity	1,613.7	2,203.6	313.4	$ 1,019.2	$ 1,940.7
Total Liabilities and Shareholders' Equity	6,013.8		8,916.3
Opioid Claimant Trust [Member]
Reorganization, Chapter 11 [Line Items]
Opioid-Related Settlement, Payment Year One and Two		200.0
Predecessor Reorganization
Reorganization, Chapter 11 [Line Items]
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding	0.0		0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding	0.0		0.0
Common Stock, Value, Outstanding	$ 0.0		$ 18.9
Reorganization, Chapter 11, Predecessor, before Adjustment
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents		1,392.6
Accounts receivable, less allowance for doubtful accounts of $4.4 and $4.7		387.4
Inventory, Net		375.2
Prepaid Expense and Other Assets, Current		322.6
Assets Held-for-sale, Not Part of Disposal Group, Current		0.0
Total current assets		2,477.8
Property, plant and equipment, net		748.6
Intangible Assets, Net (Excluding Goodwill)		5,166.6
Deferred Tax Assets, Net		0.0
Other assets		222.8
Assets		8,615.8
Current maturities of long-term debt		1,389.9
Accounts Payable, Current		156.4
Accrued payroll and payroll-related costs		71.4
Accrued interest		20.8
Acthar Gel-Related Settlement, Current		0.0
Opioid-Related Litigation Settlement liability, Current		0.0
Accrued and other current liabilities		296.1
Liabilities Held-for-Sales, Not Part of Disposal Group, Current		0.0
Total current liabilities		1,934.6
Long-term debt		0.0
Acthar Gel-Related Settlement, Non-current		0.0
Opioid-Related Litigation Settlement liability, Non-current		0.0
Pension and postretirement benefits		27.6
Environmental liabilities		37.1
Deferred income taxes		20.4
Other income tax liabilities		75.9
Other Liabilities, Noncurrent		68.6
Liabilities subject to compromise		6,402.7
Liabilities		8,566.9
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding		0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding		0.0
Ordinary shares held in treasury at cost, none and 9,569,645		(1,616.1)
Accumulated Other Comprehensive Income (Loss), Net of Tax		(9.9)
Retained deficit		(3,943.5)
Shareholders' equity		48.9
Total Liabilities and Shareholders' Equity		8,615.8
Reorganization, Chapter 11, Predecessor, before Adjustment \| Predecessor Reorganization
Reorganization, Chapter 11 [Line Items]
Common Stock, Value, Outstanding		18.9
Additional paid-in capital		5,599.5
Reorganization, Chapter 11, Predecessor, before Adjustment \| Successor, Fresh-Start Adjustments
Reorganization, Chapter 11 [Line Items]
Common Stock, Value, Outstanding		0.0
Additional paid-in capital		0.0
Reorganization, Chapter 11, Plan Effect Adjustment
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents		(1,094.7)
Accounts receivable, less allowance for doubtful accounts of $4.4 and $4.7		0.0
Inventory, Net		0.0
Prepaid Expense and Other Assets, Current		75.3
Assets Held-for-sale, Not Part of Disposal Group, Current		0.0
Total current assets		(1,019.4)
Property, plant and equipment, net		0.0
Intangible Assets, Net (Excluding Goodwill)		0.0
Deferred Tax Assets, Net		0.0
Other assets		(3.9)
Assets		(1,023.3)
Current maturities of long-term debt		(1,355.2)
Accounts Payable, Current		(53.8)
Accrued payroll and payroll-related costs		0.0
Accrued interest		(13.0)
Acthar Gel-Related Settlement, Current		16.5
Opioid-Related Litigation Settlement liability, Current		200.0
Accrued and other current liabilities		50.8
Liabilities Held-for-Sales, Not Part of Disposal Group, Current		35.0
Total current liabilities		(1,119.7)
Long-term debt		3,050.9
Acthar Gel-Related Settlement, Non-current		63.2
Opioid-Related Litigation Settlement liability, Non-current		304.3
Pension and postretirement benefits		27.2
Environmental liabilities		0.0
Deferred income taxes		102.7
Other income tax liabilities		0.0
Other Liabilities, Noncurrent		23.6
Liabilities subject to compromise		(6,402.7)
Liabilities		(3,950.5)
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding		0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding		0.0
Ordinary shares held in treasury at cost, none and 9,569,645		1,616.1
Accumulated Other Comprehensive Income (Loss), Net of Tax		0.0
Retained deficit		4,725.9
Shareholders' equity		2,927.2
Total Liabilities and Shareholders' Equity		(1,023.3)
Reorganization, Chapter 11, Plan Effect Adjustment \| Predecessor Reorganization
Reorganization, Chapter 11 [Line Items]
Common Stock, Value, Outstanding		(18.9)
Additional paid-in capital		(5,599.5)
Reorganization, Chapter 11, Plan Effect Adjustment \| Successor, Fresh-Start Adjustments
Reorganization, Chapter 11 [Line Items]
Common Stock, Value, Outstanding		0.1
Additional paid-in capital		2,203.5
Reorganization, Chapter 11, Fresh-Start Adjustment
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents		0.0
Accounts receivable, less allowance for doubtful accounts of $4.4 and $4.7		0.0
Inventory, Net		851.8
Prepaid Expense and Other Assets, Current		(58.3)
Assets Held-for-sale, Not Part of Disposal Group, Current		100.0
Total current assets		893.5
Property, plant and equipment, net		(299.2)
Intangible Assets, Net (Excluding Goodwill)		(2,014.4)
Deferred Tax Assets, Net		453.4
Other assets		(23.5)
Assets		(990.2)
Current maturities of long-term debt		0.0
Accounts Payable, Current		0.0
Accrued payroll and payroll-related costs		0.0
Accrued interest		0.0
Acthar Gel-Related Settlement, Current		0.0
Opioid-Related Litigation Settlement liability, Current		0.0
Accrued and other current liabilities		(6.1)
Liabilities Held-for-Sales, Not Part of Disposal Group, Current		0.0
Total current liabilities		(6.1)
Long-term debt		(18.4)
Acthar Gel-Related Settlement, Non-current		0.0
Opioid-Related Litigation Settlement liability, Non-current		0.0
Pension and postretirement benefits		0.0
Environmental liabilities		0.0
Deferred income taxes		(121.7)
Other income tax liabilities		(61.9)
Other Liabilities, Noncurrent		(9.6)
Liabilities subject to compromise		0.0
Liabilities		(217.7)
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding		0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding		0.0
Ordinary shares held in treasury at cost, none and 9,569,645		0.0
Accumulated Other Comprehensive Income (Loss), Net of Tax		9.9
Retained deficit		(782.4)
Shareholders' equity		(772.5)
Total Liabilities and Shareholders' Equity		(990.2)
Reorganization, Chapter 11, Fresh-Start Adjustment \| Predecessor Reorganization
Reorganization, Chapter 11 [Line Items]
Common Stock, Value, Outstanding		0.0
Additional paid-in capital		0.0
Reorganization, Chapter 11, Fresh-Start Adjustment \| Successor, Fresh-Start Adjustments
Reorganization, Chapter 11 [Line Items]
Common Stock, Value, Outstanding		0.0
Additional paid-in capital		0.0
Reorganization, Chapter11, Post Adjustment, Successor
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents		297.9
Accounts receivable, less allowance for doubtful accounts of $4.4 and $4.7		387.4
Inventory, Net		1,227.0
Prepaid Expense and Other Assets, Current		339.6
Assets Held-for-sale, Not Part of Disposal Group, Current		100.0
Total current assets		2,351.9
Property, plant and equipment, net		449.4
Intangible Assets, Net (Excluding Goodwill)		3,152.2
Deferred Tax Assets, Net		453.4
Other assets		195.4
Assets		6,602.3
Current maturities of long-term debt		34.7
Accounts Payable, Current		102.6
Accrued payroll and payroll-related costs		71.4
Accrued interest		7.8
Acthar Gel-Related Settlement, Current		16.5
Opioid-Related Litigation Settlement liability, Current		200.0
Accrued and other current liabilities		340.8
Liabilities Held-for-Sales, Not Part of Disposal Group, Current		35.0
Total current liabilities		808.8
Long-term debt		3,032.5
Acthar Gel-Related Settlement, Non-current		63.2
Opioid-Related Litigation Settlement liability, Non-current		304.3
Pension and postretirement benefits		54.8
Environmental liabilities		37.1
Deferred income taxes		1.4
Other income tax liabilities		14.0
Other Liabilities, Noncurrent		82.6
Liabilities subject to compromise		0.0
Liabilities		4,398.7
Predecessor preferred shares, $0.20 par value, 500,000,000 authorized; none issued or outstanding		0.0
Predecessor ordinary shares, $0.20 par value, 500,000,000 authorized; 94,296,235 issued; 84,726,590 outstanding		0.0
Ordinary shares held in treasury at cost, none and 9,569,645		0.0
Accumulated Other Comprehensive Income (Loss), Net of Tax		0.0
Retained deficit		0.0
Shareholders' equity		2,203.6
Total Liabilities and Shareholders' Equity		6,602.3
Reorganization, Chapter11, Post Adjustment, Successor \| Predecessor Reorganization
Reorganization, Chapter 11 [Line Items]
Common Stock, Value, Outstanding		0.0
Additional paid-in capital		0.0
Reorganization, Chapter11, Post Adjustment, Successor \| Successor, Fresh-Start Adjustments
Reorganization, Chapter 11 [Line Items]
Common Stock, Value, Outstanding		0.1
Additional paid-in capital		$ 2,203.5

Fresh-Start Accounting - Reorganization Adjustments (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended		12 Months Ended
	Jun. 16, 2022	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020	Jul. 01, 2022	Dec. 27, 2019
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents	$ 297.9	$ 409.5	$ 297.9	$ 1,345.0	$ 1,070.6
Debt instrument, face amount		3,534.1
Issuance of external debt	650.0	0.0	650.0	0.0	0.0
Acthar Gel-Related Settlement, Current	260.0		260.0
Opioid-Related Settlement, Emergence Payment	447.4		447.4
Opioid-Related Settlement, Gross Amount of Deferred Payment	1,275.0		1,275.0
Opioid-Related Litigation Settlement liability, Current		200.0		0.0
Opioid-Related Litigation Settlement liability, Non-current		379.9		0.0
Liabilities Subject to Compromise		0.0		(6,397.7)
Stock Issued During Period, Value, New Issues			2,189.7
Adjustments to Additional Paid in Capital, Warrant Issued			(13.9)
Shareholders' equity	2,203.6	$ 1,613.7	2,203.6	$ 313.4	1,019.2		$ 1,940.7
Share Price						$ 24.40
Adjustments to Retained Deficit, Prepaid Success Fee	$ (10.9)		(10.9)
Cancellation of Predecessor equity			$ (0.5)
Operating Lease, Weighted Average Discount Rate, Percent		11.90%		4.40%
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 103.40		$ 103.40
Ordinary Shares
Reorganization, Chapter 11 [Line Items]
Stock Issued During Period, Value, New Issues			$ 0.1
Shareholders' equity	$ 0.1	$ 0.1	0.1	$ 18.9	18.8		$ 18.7
Cancellation of Predecessor equity			(18.9)
StrataGraft PRV
Reorganization, Chapter 11 [Line Items]
Other Indefinite-lived Intangible Assets	100.0		100.0
Long-term Debt [Member]
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise		0.0		(3,750.8)
Opioid Claimant Trust [Member]
Reorganization, Chapter 11 [Line Items]
Opioid-related Settlement	1,725.0		1,725.0
Receivables Financing Facility
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount	200.0		200.0
Ten Point Zero Percent Second Lien Notes due 2029
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount		328.3
Ten Point Zero Percent First Lien Notes [Member]
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount	495.0	495.0	495.0
Eleven Point Five Percent First Lien Senior Secured Notes
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount		650.0
2017 Replacement Term Loan
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount	1,392.9	1,374.1	1,392.9
2018 Replacement Term Loan
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount	369.7	364.8	369.7
Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount	322.9	321.9	322.9
Reorganization, Chapter 11, Plan Effect Adjustment
Reorganization, Chapter 11 [Line Items]
Proceeds from Debt, Net of Issuance Costs	637.0
Payment for Debt Extinguishment or Debt Prepayment Cost	900.0
Upfront Payment of the Opioid-Related Litigation Settlement	(447.4)
Upfront Payment of the Acthar Gel-Related Settlement	(17.8)
Payment of Administrative, Priority and Trade Claims	(26.2)
Payment of Professional Fees	(43.5)
Payment to Fund Professional Fees Escrow	(89.0)
Payment of General Unsecured Claims	(135.0)
Payment of Noteholder Consent Fees	(19.3)
Payments for Other Fees	(53.5)
Reorganization Adjustments, Cashed Used	(1,731.7)
Cash and cash equivalents	(1,094.7)		(1,094.7)
Restricted Cash	89.0		89.0
Prepaid Expense, Reorganization Adjustment	10.9
Other Assets, Reorganization Adjustment	6.5
Payments for Cure and Standard, Administrative and Priority Payments	25.2		25.2
Payables due to Professional Advisor Success Fees	14.6		14.6
Acthar Gel-Related Settlement, Current	16.5		16.5
Acthar Gel-Related Settlement, Non-current	63.2		63.2
Opioid-Related Litigation Settlement liability, Current	200.0		200.0
Opioid-Related Litigation Settlement liability, Non-current	304.3		304.3
Contingent consideration	(41.8)		(41.8)
Liabilities Subject to Compromise	6,402.7		6,402.7
Liabilities, Reinstated	(59.8)		(59.8)
Stock Issued During Period, Value, New Issues	(2,189.7)
Adjustments to Additional Paid in Capital, Warrant Issued	(13.9)
Issuance of Takeback 2L Notes	(190.2)		(190.2)
Cash payments to settle amounts per the Plan	(601.3)		(601.3)
Total consideration provided to settle amounts per the Plan	(5,399.2)		(5,399.2)
Gain on settlement of liabilities subject to compromise	943.7	0.0	(943.7)	0.0	0.0
Additional Paid in Capital, Common Stock	2,189.6		2,189.6
Shareholders' equity	$ 2,927.2		$ 2,927.2
Share Price	$ 18.50		$ 18.50
Volatility, Black Scholes Model, Warrants	62.28%		62.28%
Adjustment to Retained Deficit, Professional, Success and Exit Fees	$ (91.6)		$ (91.6)
Adjustments to Retained Deficit, Prepaid Insurance	(9.2)		(9.2)
Adjustment to Retained Deficit, Severance Accrual	(5.7)		(5.7)
Adjustment to Retained Deficit, Income Tax Expense on Plan Adjustments	(102.7)		(102.7)
Cancellation of Predecessor equity	4,002.3
Reorganization Adjustments to Retained Deficit	$ 4,725.9		$ 4,725.9
Risk-Free Interest Rate, Black Scholes Model, Warrants	3.34%		3.34%
Reorganization, Chapter 11, Plan Effect Adjustment \| Ordinary Shares
Reorganization, Chapter 11 [Line Items]
Stock Issued During Period, Value, New Issues	$ 0.1
Reorganization, Chapter 11, Plan Effect Adjustment \| StrataGraft PRV \| General Unsecured Claims Trust
Reorganization, Chapter 11 [Line Items]
Contingent consideration	35.0		$ 35.0
Reorganization, Chapter 11, Plan Effect Adjustment \| StrataGraft CVR
Reorganization, Chapter 11 [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability	6.8		6.8
Reorganization, Chapter 11, Plan Effect Adjustment \| Other current liabilities
Reorganization, Chapter 11 [Line Items]
Restructuring Reserve	5.7		5.7
Reinstatement of various successor obligations from LSTC	15.4		15.4
Success fees for professionals	29.7		29.7
Accrued and Other Current Liabilities, Reorganization Adjustment	50.8		50.8
Reorganization, Chapter 11, Plan Effect Adjustment \| Other Noncurrent Liabilities
Reorganization, Chapter 11 [Line Items]
Asbestos-related defense cost accrual	16.8		16.8
Reorganization, Chapter 11, Plan Effect Adjustment \| Accounts Payable
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise	(17.7)		(17.7)
Liabilities, Reinstated	(0.1)		(0.1)
Reorganization, Chapter 11, Plan Effect Adjustment \| Interest Payable, Current
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise	(35.2)		(35.2)
Reorganization, Chapter 11, Plan Effect Adjustment \| Long-term Debt [Member]
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise	(3,746.2)		(3,746.2)
Liabilities, Reinstated	(1,778.3)		(1,778.3)
Reorganization, Chapter 11, Plan Effect Adjustment \| Accrued Environmental Loss Contingencies
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise	(67.2)		(67.2)
Reorganization, Chapter 11, Plan Effect Adjustment \| Acthar Gel-Related Settlement
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise	(630.0)		(630.0)
Liabilities, Reinstated	(79.7)		(79.7)
Reorganization, Chapter 11, Plan Effect Adjustment \| Opioid-related litigation settlement liability
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise	(1,722.4)		(1,722.4)
Liabilities, Reinstated	(504.3)		(504.3)
Reorganization, Chapter 11, Plan Effect Adjustment \| Other Liabilities
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise	(151.6)		(151.6)
Liabilities, Reinstated	(27.3)		(27.3)
Reorganization, Chapter 11, Plan Effect Adjustment \| Liability, Defined Benefit Plan, Noncurrent
Reorganization, Chapter 11 [Line Items]
Liabilities Subject to Compromise	(32.4)		(32.4)
Liabilities, Reinstated	(32.4)		(32.4)
Reorganization, Chapter 11, Plan Effect Adjustment \| Medicaid Lawsuit [Member]
Reorganization, Chapter 11 [Line Items]
Acthar Gel-Related Settlement, Gross Amount of Deferred Payments	245.0		245.0
Acthar Gel-Related Settlement, Emergence Payment, net of Interest	17.8		17.8
Reorganization, Chapter 11, Plan Effect Adjustment \| Opioid Claimant Trust [Member]
Reorganization, Chapter 11 [Line Items]
Opioid-related Settlement	$ 1,725.0		$ 1,725.0
Reorganization, Chapter 11, Plan Effect Adjustment \| Acthar Gel-Related Settlement
Reorganization, Chapter 11 [Line Items]
Discount Rate, Present Value of Future Cash Flows	27.80%		27.80%
Reorganization, Chapter 11, Plan Effect Adjustment \| Opioid-related litigation settlement liability
Reorganization, Chapter 11 [Line Items]
Discount Rate, Present Value of Future Cash Flows	27.80%		27.80%
Reorganization, Chapter 11, Plan Effect Adjustment \| Receivables Financing Facility
Reorganization, Chapter 11 [Line Items]
Payments of Debt Issuance Costs	$ 2.6
Reorganization, Chapter 11, Plan Effect Adjustment \| 2017 and 2018 Replacement Term Loan
Reorganization, Chapter 11 [Line Items]
Debt, Current	34.7		$ 34.7
Reorganization, Chapter 11, Plan Effect Adjustment \| Ten Point Zero Percent Second Lien Notes due 2029
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount	375.0		375.0
Reorganization Plan Adjustment	(184.8)		(184.8)
Reorganization, Chapter 11, Plan Effect Adjustment \| Ten Point Zero Percent First Lien Notes [Member]
Reorganization, Chapter 11 [Line Items]
Debt Issuance Costs, Gross	5.1		5.1
Reorganization, Chapter 11, Plan Effect Adjustment \| Eleven Point Five Percent First Lien Senior Secured Notes \| Original Issuance Discount
Reorganization, Chapter 11 [Line Items]
Debt Issuance Costs, Gross	13.0		13.0
Reorganization, Chapter 11, Plan Effect Adjustment \| Eleven Point Five Percent First Lien Senior Secured Notes \| Deferred Debt Issuance Costs
Reorganization, Chapter 11 [Line Items]
Debt Issuance Costs, Gross	9.7		9.7
Reorganization, Chapter 11, Plan Effect Adjustment \| 2017 Replacement Term Loan
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount	1,392.9		1,392.9
Reorganization Plan Adjustment	(169.4)		(169.4)
Reorganization, Chapter 11, Plan Effect Adjustment \| 2018 Replacement Term Loan
Reorganization, Chapter 11 [Line Items]
Debt instrument, face amount	369.7		369.7
Reorganization Plan Adjustment	(42.2)		(42.2)
Reorganization, Chapter 11, Plan Effect Adjustment \| Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Reorganization, Chapter 11 [Line Items]
Reorganization Plan Adjustment	(95.7)		(95.7)
Reorganization, Chapter 11, Plan Effect Adjustment \| Debt
Reorganization, Chapter 11 [Line Items]
Reorganization Plan Adjustment	(492.1)		(492.1)
Reorganization, Chapter11, Post Adjustment, Successor
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents	297.9		297.9
Acthar Gel-Related Settlement, Current	16.5		16.5
Acthar Gel-Related Settlement, Non-current	63.2		63.2
Opioid-Related Litigation Settlement liability, Current	200.0		200.0
Opioid-Related Litigation Settlement liability, Non-current	304.3		304.3
Liabilities Subject to Compromise	0.0		0.0
Shareholders' equity	2,203.6		2,203.6
Reorganization, Chapter 11, Fresh-Start Adjustment
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents	0.0		0.0
Acthar Gel-Related Settlement, Current	0.0		0.0
Acthar Gel-Related Settlement, Non-current	0.0		0.0
Opioid-Related Litigation Settlement liability, Current	0.0		0.0
Opioid-Related Litigation Settlement liability, Non-current	0.0		0.0
Liabilities Subject to Compromise	0.0		0.0
Shareholders' equity	(772.5)		(772.5)
Fresh-Start Adjustment, Spare Parts	3.9		3.9
Fresh-Start Adjustments, Debt Issuance Costs	1.1		1.1
Fresh-Start Adjustments, Income Tax Receivables	$ 0.9		$ 0.9
Operating Lease, Weighted Average Discount Rate, Percent	11.83%		11.83%
Fresh-Start Adjustments, Right-of-Use Assets	$ 1.6		$ 1.6
Fresh-Start Adjustments, Asbestos-Related Defense Costs, Current	6.1		6.1
Fresh-Start Adjustments, Asbestos-Related Defense Costs, Non-Current	16.7		16.7
Fresh-Start Adjustments, Lease Liabilities	6.9		6.9
Fresh-Start Adjustments, Unamortized Debt Issuance Costs	5.1		5.1
Fresh-Start Adjustments, Debt, Fair Value	23.5		23.5
Adjustment to Retained Deficit, Inventory	851.8		851.8
Adjustment to Retained Deficit, Property, Plant and Equipment	(299.2)		(299.2)
Fresh-Start Adjustments, Intangible assets, net	(2,014.4)		(2,014.4)
Adjustments to Retained Deficit, Current Asset Held for Sale	100.0		100.0
Adjustment to Retained Deficit, Debt	18.4		18.4
Adjustment to Retained Deficit, Other Assets and Liabilities	(11.2)		(11.2)
Reorganization Items, net, Loss on Fresh-Start Adjustments	(1,354.6)	$ 0.0	1,354.6	$ 0.0	$ 0.0
Fresh-Start Adjustments, Accumulated Other Comprehensive Income	(9.9)		(9.9)
Fresh-Start Adjustments, Income Tax Benefit	582.1		582.1
Fresh-Start Adjustment, Accumulated Retained Deficit	(782.4)		(782.4)
Fresh-Start Adjustment, Prepaid Income Taxes	54.0		54.0
Reorganization, Chapter 11, Fresh-Start Adjustment \| Indemnification Receivable, Current
Reorganization, Chapter 11 [Line Items]
Change in Accounting Policy, Fresh-Start	$ 4.3		$ 4.3
Reorganization, Chapter 11, Fresh-Start Adjustment \| Finite-Lived Intangible Assets \| Minimum
Reorganization, Chapter 11 [Line Items]
Discount Rate, Present Value of Future Cash Flows	13.00%		13.00%
Reorganization, Chapter 11, Fresh-Start Adjustment \| Finite-Lived Intangible Assets \| Maximum
Reorganization, Chapter 11 [Line Items]
Discount Rate, Present Value of Future Cash Flows	15.00%		15.00%
Reorganization, Chapter 11, Fresh-Start Adjustment \| Indemnification Receivable, Non-Current
Reorganization, Chapter 11 [Line Items]
Change in Accounting Policy, Fresh-Start	$ 16.0		$ 16.0
Reorganization, Chapter 11, Fresh-Start Adjustment \| Accumulated Other Comprehensive (Loss) Income
Reorganization, Chapter 11 [Line Items]
Fresh-Start Adjustments, AOCI, Income Tax Effects	0.3		0.3
Fresh-Start Adjustments, AOCI, Pension Benefits	8.1		8.1
Fresh-Start Adjustments, AOCI, CTA	2.1		2.1
Reorganization, Chapter 11, Predecessor, before Adjustment
Reorganization, Chapter 11 [Line Items]
Cash and cash equivalents	1,392.6		1,392.6
Acthar Gel-Related Settlement, Current	0.0		0.0
Acthar Gel-Related Settlement, Non-current	0.0		0.0
Opioid-Related Litigation Settlement liability, Current	0.0		0.0
Opioid-Related Litigation Settlement liability, Non-current	0.0		0.0
Liabilities Subject to Compromise	(6,402.7)		(6,402.7)
Shareholders' equity	$ 48.9		$ 48.9
Operating Lease, Weighted Average Discount Rate, Percent	8.85%		8.85%

Fresh-Start Accounting - Reorganization Items (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
	Jun. 16, 2022	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Reorganization, Chapter 11 [Line Items]
Cash Paid, Reorganization items		$ 18.4	$ 304.1	$ 333.1	$ 8.7
Debtor Reorganization Items, Legal and Advisory Professional Fees		23.2	161.1	405.6	51.1
Debtor Reorganization Items, Success Fees		0.0	44.3	0.0	0.0
Debtor Reorganization Items, Net, Prepaid Expense Write-Off		0.0	9.2	0.0	0.0
Debtor Reorganization Items, Write-off of Debt Issuance Costs and Debt Discounts		0.0	0.0	23.1	10.2
Debtor Reorganization Items, Gain (Loss) on Settlement of Other Claims, Net		0.0	5.4	(0.5)	0.1
Reorganization items, net		23.2	630.9	428.2	61.4
Reorganization, Chapter 11, Plan Effect Adjustment
Reorganization, Chapter 11 [Line Items]
Gain on settlement of liabilities subject to compromise	$ 943.7	0.0	(943.7)	0.0	0.0
Reorganization, Chapter 11, Fresh-Start Adjustment
Reorganization, Chapter 11 [Line Items]
Reorganization Items, net, Loss on Fresh-Start Adjustments	$ (1,354.6)	$ 0.0	$ 1,354.6	$ 0.0	$ 0.0

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 30, 2022	Dec. 31, 2021	Dec. 25, 2020
Minimum \| Completed Technology
Schedule of Significant Accounting Policies [Line Items]
Finite-lived intangible assets - useful lives			3 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			20 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	$ 13.9	$ 12.8		$ 23.6	$ 20.1

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

6 Months Ended

12 Months Ended

Dec. 30, 2022

Jun. 16, 2022

Dec. 31, 2021

Dec. 25, 2020

Dec. 27, 2019

$ 294.0

$ 276.9

$ 272.8

$ 235.4

$ 337.4

Capitalized Contract Cost, Gross

715.7

2,166.0

2,154.3

10.3

25.8

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

(711.6)

(2,128.6)

(2,792.3)

1,039.7

874.6

2,208.8

2,213.4

Capitalized Contract Cost, Amortization

1.0

2.9

6.1

5.5

(536.0)

Accrued Medicaid

89.3

49.6

Accrued rebates

55.3

30.4

Operating Expense [Member]

0.0

^[1]

0.0

^[1]

(536.0)

^[1]

Transferred over Time [Member]

$ 0.0

$ (105.1)

Revenue from Contract with Customer, Transferred over Time

17.00%

19.20%

20.60%

21.10%

Transferred at Point in Time [Member]

Revenue from Contract with Customer, Transferred at Point in Time

83.00%

80.80%

79.40%

78.90%

Royalty [Member]

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

$ 36.2

$ 34.9

$ 102.4

$ 70.3

Sales Returns and Allowances

16.0

18.6

21.5

26.6

28.4

7.0

5.2

23.7

28.9

(9.6)

(8.1)

(28.8)

(30.7)

Rebates and Chargebacks [Member]

0.0

265.3

250.6

241.8

196.5

295.8

804.4

693.4

2,087.1

2,065.9

(789.7)

(684.6)

(2,041.8)

(2,701.2)

Other Sales Deductions [Member]

(536.0)

12.7

7.7

9.5

12.3

$ 13.2

36.7

17.1

55.2

59.5

$ (31.7)

$ (18.9)

$ (58.0)

(60.4)

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

$ 0.0

[1]	Specialty Brands net sales for fiscal 2020 (Predecessor) 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 (Predecessor).

Revenue from Contracts with Customers Future Performance Obligations (Details) $ in Millions	Dec. 30, 2022 USD ($)
Year One [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 115.4
Year Two [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	23.5
Thereafter [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 2.7

Discontinued Operations (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
Discontinued Operations (Details) - USD ($) $ in Millions	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Tax Effect of Discontinued Operation	$ 0.0	$ 0.0	$ (5.0)	$ (16.2)
Losses (gains) on divestiture	0.0	0.0	0.8	(16.6)
Equity Certificates Redeemed Amount				29.8
(Benefit) expense from income taxes	$ (52.0)	$ (497.3)	(106.3)	8.9
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
Contingent consideration received, equity certificates				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
Hemostasis Products
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Losses (gains) on divestiture				$ (16.5)

Restructuring and Related Charges (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020	Dec. 01, 2021	Feb. 01, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ 11.1	$ 9.6	$ 26.9	$ 37.5
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	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	$ 12.1	$ 9.6	$ 29.0	$ 49.8
Less: accelerated depreciation	(1.0)	0.0	(2.1)	(12.3)
Restructuring charges, net	11.1	9.6	26.9	37.5
Specialty Brands [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	0.0	0.0	0.1	0.1
Specialty Generics [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	0.8	3.5	4.9	0.1
Corporate
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	$ 11.3	$ 6.1	$ 24.0	$ 49.6

Restructuring and Related Charges (Schedule of Net Restructuring and Related Charges) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	$ 12.1	$ 9.6	$ 29.0	$ 49.8
Less: non-cash charges, including accelerated depreciation	(2.2)	(3.6)	(6.3)	(23.8)
Total charges expected to be settled in cash	9.9	6.0	22.7	26.0
Restructuring charges, net	11.1	9.6	26.9	37.5
2018 Program
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	12.1	9.6	29.0	(52.0)
2016 Program
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	0.0	0.0	0.0	0.3
Acquisition programs
Restructuring Cost and Reserve [Line Items]
Total restructuring and related charges	$ 0.0	$ 0.0	$ 0.0	$ (1.9)

Restructuring and Related Charges (Schedule of Restructuring Reserves by Type of Cost) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Restructuring Reserve [Roll Forward]
Reclassifications				$ (10.0)
Restructuring Reserve, Translation and Other Adjustment				1.8
Continuing Operations
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 1.0	$ 10.9	$ 1.0	34.2
Charges	12.7	7.1	23.7	28.7
Restructuring Reserve, Accrual Adjustment	(2.8)	(1.1)	(1.0)	(2.7)
Payments for Restructuring	(6.3)	(15.9)	(12.8)	(51.0)
Ending Balance	4.6	1.0	10.9	1.0
Acquisition programs \| Continuing Operations
Restructuring Reserve [Roll Forward]
Beginning Balance	0.0	0.0	0.0	0.2
Charges	0.0	0.0	0.0	0.0
Restructuring Reserve, Accrual Adjustment	0.0	0.0	0.0	(1.9)
Payments for Restructuring	0.0	0.0	0.0	(0.2)
Reclassifications				0.0
Restructuring Reserve, Translation and Other Adjustment				1.9
Ending Balance	0.0	0.0	0.0	0.0
2018 Program \| Continuing Operations
Restructuring Reserve [Roll Forward]
Beginning Balance	1.0	10.9	1.0	2.7
Charges	12.7	7.1	23.7	28.6
Restructuring Reserve, Accrual Adjustment	(2.8)	(1.1)	(1.0)	(0.4)
Payments for Restructuring	(6.3)	(15.9)	(12.8)	(20.1)
Reclassifications				(10.0)
Restructuring Reserve, Translation and Other Adjustment				0.2
Ending Balance	4.6	1.0	10.9	1.0
2016 Program \| Continuing Operations
Restructuring Reserve [Roll Forward]
Beginning Balance	0.0	0.0	0.0	31.3
Charges	0.0	0.0	0.0	0.1
Restructuring Reserve, Accrual Adjustment	0.0	0.0	0.0	(0.4)
Payments for Restructuring	0.0	0.0	0.0	(30.7)
Reclassifications				0.0
Restructuring Reserve, Translation and Other Adjustment				(0.3)
Ending Balance	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Restructuring and Related Charges (Schedule of Restructuring Charges Incurred Cumulative to Date) (Details) - 2018 Program - USD ($) $ in Millions	Dec. 30, 2022	Jun. 16, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred cumulative to date	$ 12.1	$ 105.6
Specialty Brands [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred cumulative to date	0.0	3.1
Specialty Generics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred cumulative to date	0.8	18.5
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred cumulative to date	$ 11.3	$ 84.0

Income Taxes (Narrative) (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jun. 16, 2022	Dec. 30, 2022	Jun. 16, 2022	Dec. 30, 2022	Dec. 31, 2021	Dec. 25, 2020
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount		$ 4.7	$ (226.5)		$ 224.9	$ 315.3
Increase (Decrease) Tax Expense (Benefit), Change in Operating Income		(30.2)	(12.8)	$ 92.9
Current Income Tax Expense (Benefit)		(27.1)	(23.9)		(46.4)	(375.3)
Increase (Decrease) Tax Benefit, Jurisdiction Rate Difference				(90.4)
Income Taxes Paid, Net		(3.0)	(3.0)		160.0	(39.9)
Deferred Tax Liabilities, Intangible Assets		0.0		0.0	108.5
Deferred Tax Assets, Other		159.8		159.8	292.2
Tax loss and credit carryforward		3,646.0		3,646.0	4,147.5
Unrecognized Tax Benefits, Interest on Income Taxes Accrued		2.8		2.8	18.9
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 24.8	24.8	24.8	24.8	77.0	85.9
Unrecognized Tax Benefits, Interest on Income Taxes Expense		(0.6)	(16.7)		(2.2)	(16.2)
Tax Credit Carryforward, Amount		1.9		1.9
Increase (Decrease) Tax Expense (Benefit) due to opioid-related settlement charge				10.6
Excess in Book over Tax Basis, Foreign Subsidiaries		3.1		3.1
Deferred Income Tax Expense (Benefit)		(24.9)	(473.4)		(59.9)	384.2
(Benefit) expense from income taxes		(52.0)	(497.3)		(106.3)	8.9
Deferred Tax Assets, Capital Loss Carryforwards		1,412.6		1,412.6	1,605.0
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		(224.4)		(224.4)	(175.6)
Foreign tax provision, refundable credits						1.0
Foreign Tax Benefit, Carryback Claims						$ 281.5
Increase (Decrease) Tax (Benefit), Inventory Step-Up Amortization		19.7
Increase (Decrease) Tax Expense (Benefit), Settlement liabilities accretion expense		8.9
Increase (Decrease) Tax Expense (Benefit), Debt accretion expense		6.3
Increase (Decrease) Tax Benefit, Fresh-Start adjustments			128.9
Increase (Decrease) Tax Expense (Benefit), Gain on LSTC adjustments			103.4
Increase (Decrease) Tax Expense (Benefit), Professional & Lender Fees			18.6
Increase (Decrease) Tax Expense Benefit, Fresh-Start Accounting Revaluation of DTA	1,202.0
Increase (Decrease) Income Tax Expense (Benefit), Release of UTP	285.3
Increase (Decrease) Tax Expense (Benefit), NOL carryforward reduction	1,209.8
Increase (Decrease) Tax Expense (Benefit), Permanently nondeductible impacts	191.9
Increase (Decrease) Tax Expense (Benefit), Prepaid income taxes	54.0
Increase (Decrease) Tax Expense (Benefit), Valuation Allowances			600.8
Unrecognized Tax Benefits, Period Increase (Decrease)			$ 306.1
Increase (Decrease) Deferred Tax Assets, Opioid-Related Litigation Settlement Payments				72.8
Increase (Decrease) Deferred Tax Assets, Intangible Assets Amortization				61.5
Increase (Decrease) Deferred Tax Assets, Fresh-Start Adjustment				904.5
Deferred Income Tax Assets, Net		475.5		475.5	0.0
Deferred income taxes		(0.3)		(0.3)	(20.9)
Deferred income tax asset (liability), net		$ (475.2)		(475.2)	$ 20.9
Increase (Decrease) Deferred Tax Assets, Other				60.6
IRELAND
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		12.50%	12.50%		12.50%	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	0.1	$ 61.0	$ 0.1	61.0	1.2	33.4
Deferred Tax Assets, Operating Loss Carryforwards		3,600.6		3,600.6
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration		1,532.4		1,532.4
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration		2,068.2		2,068.2
Deferred Tax Assets, Capital Loss Carryforwards		8.7		8.7
Ireland
Income Tax Contingency [Line Items]
Operating Loss Carryforwards	4.1	7.9	4.1	7.9	2.2	$ 0.2
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration		43.5		43.5
Deferred Tax Assets, Capital Loss Carryforwards		$ 969.5		$ 969.5
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)
Chapter 11 Emergence
Income Tax Contingency [Line Items]
(Benefit) expense from income taxes	$ 31.6
Alleviation of Going Concern Substantial Doubt
Income Tax Contingency [Line Items]
Increase (Decrease) Tax Expense (Benefit), Valuation Allowances			512.1
Rate differential between domestic and international jurisdictions
Income Tax Contingency [Line Items]
Increase (Decrease) Tax Expense (Benefit), Valuation Allowances			$ 88.7

Income Taxes (Schedule of Components of Income from Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Operating Loss Carryforwards [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount				$ 204.9
Domestic	$ (32.8)	$ 33.7	$ (33.7)	0.1
International	5.7	(57.6)	(12.7)	(375.4)
Current Income Tax Expense (Benefit)	(27.1)	(23.9)	(46.4)	(375.3)
Domestic	(44.6)	(82.3)	(59.5)	102.2
International	19.7	(391.1)	(0.4)	282.0
Deferred Income Tax Expense (Benefit)	(24.9)	(473.4)	(59.9)	384.2
(Benefit) expense from income taxes	(52.0)	(497.3)	(106.3)	8.9
Domestic	(359.4)	(2,883.3)	(512.2)	(656.9)
International	(290.9)	2,072.0	(317.6)	(303.9)
Loss from continuing operations before income taxes	(650.3)	(811.3)	(829.8)	(960.8)
Ireland
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	7.9	4.1	2.2	0.2
Non-U.K.
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 61.0	$ 0.1	$ 1.2	$ 33.4

Income Taxes (Schedule of Significant Components of Income Taxes Related to Continuing Operations) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 30, 2022	Dec. 31, 2021	Dec. 25, 2020
Current:
Domestic	$ (32.8)	$ 33.7		$ (33.7)	$ 0.1
International	5.7	(57.6)		(12.7)	(375.4)
Current income tax (benefit) provision	(27.1)	(23.9)		(46.4)	(375.3)
Deferred:
Domestic	(44.6)	(82.3)		(59.5)	102.2
International	19.7	(391.1)		(0.4)	282.0
Deferred income tax (benefit) provision	(24.9)	(473.4)		(59.9)	384.2
Provision for (benefit from) income taxes	(52.0)	(497.3)		$ (106.3)	8.9
Increase (Decrease) Tax Expense (Benefit), Change in Operating Income	$ (30.2)	$ (12.8)	$ 92.9
Increase (Decrease) Tax Benefit, Medicaid Lawsuit			$ 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

6 Months Ended

12 Months Ended

Dec. 30, 2022

Jun. 16, 2022

Dec. 30, 2022

Dec. 31, 2021

Dec. 25, 2020

Income Taxes [Line Items]

$ (24.9)

$ (473.4)

$ (59.9)

$ 384.2

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

(81.3)

^[1]

(101.4)

(103.7)

^[1]

(120.1)

^[1]

Adjustments to reconcile to income tax provision:

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

4.7

(226.5)

224.9

315.3

Valuation allowances (6)

25.9

(600.8)

189.7

618.2

Adjustments to accrued income tax liabilities and uncertain tax positions

0.0

^[2]

0.0

(9.7)

^[2]

16.7

^[2]

Credits, principally research

0.0

(0.9)

(4.7)

(11.2)

Permanently nondeductible and nontaxable items

3.1

(1.7)

9.8

2.8

Effective Income Tax Rate Reconciliation, Disposition of Business, Amount

4.7

0.0

Income tax benefit, tax cut and jobs act

0.0

(281.5)

Other

(1.4)

(3.1)

0.3

0.1

Income tax benefit, Legal Reorganization

0.0

82.0

Effective Income Tax Rate Reconciliation, Separation Costs

0.0

8.4

Effective Income Tax Rate Reconciliation, Reorganization Items, net

1.7

15.7

36.9

8.8

Provision for (benefit from) income taxes

(52.0)

(497.3)

(106.3)

8.9

Increase (Decrease) Tax Benefit, Jurisdiction Rate Difference

$ 90.4

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

10.6

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

(30.2)

(12.8)

92.9

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

27.6

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

$ 13.2

Effective income tax rate reconciliation, pension plan settlement

$ 0.0

$ (31.6)

$ 0.0

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%.
[2]	Includes interest and penalties on accrued income tax liabilities and uncertain tax positions.

Income Taxes (Schedule of Unrecognized Tax Benefit Activity) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 24.8	$ 24.8	$ 77.0	$ 85.9
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of period	24.8	333.5	349.0	398.6
Additions related to current year tax positions	0.0	0.0	0.0	71.1
Additions related to prior period tax positions	0.0	0.0	9.3	9.8
Reductions related to prior period tax positions	0.0	(306.1)	(2.8)	(14.2)
Settlements	0.0	(2.6)	(0.2)	(80.3)
Lapse of statutes of limitations	0.0	0.0	(21.8)	(36.0)
Balance at end of period	$ 24.8	$ 24.8	$ 333.5	$ 349.0

Income Taxes (Schedule of Unrecognized Tax Benefits Balance Sheet Location) (Details) - USD ($) $ in Millions	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	$ 24.8	$ 24.8	$ 333.5	$ 349.0	$ 398.6
Other Assets [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	0.0		255.7
Other Income Tax Liabilities
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	15.4		64.1
Deferred income tax liability (non-current)
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	0.0		13.7
Liabilities, Total [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	24.8		333.5
Deferred tax asset, non-current
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	$ 9.4		$ 0.0

Income Taxes (Schedule of Income Taxes Payable) (Details) - USD ($) $ in Millions	Dec. 30, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Other income tax liabilities	$ 18.2	$ 83.2
Total income taxes payable	21.8	84.9
Accrued and Other Current Liabilities
Operating Loss Carryforwards [Line Items]
Accrued and other current liabilities	3.6	1.7
Other Income Tax Liabilities
Operating Loss Carryforwards [Line Items]
Other income tax liabilities	$ 18.2	$ 83.2

Income Taxes (Schedule of Income Tax Receivables and Other Assets) (Details) - USD ($) $ in Millions	Dec. 30, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Other assets	$ 0.0	$ 141.3
Prepaid expenses and other current assets	179.5	36.5
Total	$ 179.5	$ 177.8

Income Taxes (Schedule of Deferred Taxes Activity) (Details) - USD ($) $ in Millions	Dec. 30, 2022	Dec. 31, 2021
Deferred tax assets:
Tax loss and credit carryforward	$ 3,646.0	$ 4,147.5
Deferred Tax Assets, Capital Loss Carryforwards	1,412.6	1,605.0
Deferred Tax Assets, Opioid-related litigation settlement	111.7	294.7
Deferred Tax Assets, Goodwill and Intangible Assets	278.4	0.0
Deferred Tax Asset, Interest Carryforward	84.0	159.5
Other	159.8	292.2
Total deferred tax assets, gross	5,692.5	6,498.9
Deferred tax liabilities:
Intangible assets	0.0	(108.5)
Investment in partnership	(67.4)	(67.1)
Deferred Tax Liabilities, Other	(157.0)	0.0
Total deferred tax liabilities, gross	(224.4)	(175.6)
Net deferred tax asset before valuation allowances	5,468.1	6,323.3
Valuation allowances	(4,992.9)	(6,344.2)
Deferred income tax asset (liability), net	$ 475.2	$ (20.9)

Earnings (Loss) per Share (Details) - shares shares in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Earnings (Loss) per Share [Abstract]
Weighted Average Number of Shares Outstanding, Basic	13.2	84.8	84.7	84.5
Weighted-average shares for diluted earnings (loss) per share (in shares)	13.2	84.8	84.7	84.5
Antidilutive securities excluded from weighted-average shares (in shares)	0.0	0.5	5.2	5.6

Earnings (Loss) per Share Schedule of Earnings per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Earnings Per Share [Abstract]
Income (loss) from continuing operations	$ (598.3)	$ (314.0)	$ (723.5)	$ (969.7)
Income (loss) from discontinued operations, net of income taxes	$ 0.2	$ 0.9	$ 6.1	$ 25.1
Weighted Average Number of Shares Outstanding, Basic	13.2	84.8	84.7	84.5
Weighted Average Number of Shares Outstanding, Diluted	13.2	84.8	84.7	84.5
Loss from continuing operations	$ (45.43)	$ (3.70)	$ (8.54)	$ (11.48)
Income (Loss) from Discontinued Operations, Per Basic Share	0.02	0.01	0.07	0.30
Earnings Per Share, Basic	(45.41)	(3.69)	(8.47)	(11.18)
Loss from continuing operations	(45.43)	(3.70)	(8.54)	(11.48)
Income (Loss) from Discontinued Operations, Per Diluted Share	0.02	0.01	0.07	0.30
Earnings Per Share, Diluted	$ (45.41)	$ (3.69)	$ (8.47)	$ (11.18)

Inventories (Details) - USD ($) $ in Millions	Dec. 30, 2022	Dec. 31, 2021
Inventory, Net [Abstract]
Raw materials	$ 80.2	$ 59.8
Work in process	552.1	196.4
Finished goods	315.3	91.0
Inventories	$ 947.6	$ 347.2

Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 485.0		$ 1,886.6
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	27.4		1,110.6
Depreciation	$ 28.8	$ 40.0	$ 94.7	$ 114.0

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ 28.8	$ 40.0	$ 94.7	$ 114.0
Property, plant and equipment, gross	485.0		1,886.6
Less: accumulated depreciation	(27.4)		(1,110.6)
Property, plant and equipment, net	457.6		776.0
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	51.0		43.5
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	127.2		387.8
Capitalized Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17.5		121.1
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	216.8		1,254.1
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 72.5		$ 80.1

Leases (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
Leases (Details) - USD ($) $ in Millions	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 38.1		$ 35.0
Operating Lease, Liability, Current	10.3		11.1
Operating Lease, Liability, Noncurrent	30.4		20.0
Operating Lease, Liability, Liability Subject to Compromise	$ 0.0		$ (0.4)
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities		Other Liabilities
Operating Lease, Cost	$ 7.9	$ 8.7	$ 19.6	$ 21.2
Short-term Lease, Cost	1.6	0.4	1.1	1.1
Variable Lease, Cost	1.5	1.2	2.4	3.1
Lease, Cost	$ 11.0	10.3	$ 23.1	25.4
Operating Lease, Weighted Average Remaining Lease Term	6 years 8 months 12 days		5 years 8 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	11.90%		4.40%
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 14.9
Lessee, Operating Lease, Liability, Payments, Due Year Two	12.0
Operating Lease, Liability	40.7		$ 31.5
Lessee, Operating Lease, Liability, Payments, Due Year Three	7.9
Lessee, Operating Lease, Liability, Payments, Due Year Four	5.0
Lessee, Operating Lease, Liability, Payments, Due Year Five	3.2
Lessee, Operating Lease, Liability, Payments, Due after Year Five	18.3
Lessee, Operating Lease, Liability, Payments, Due	61.3
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(20.6)
Operating Lease, Payments	9.2	9.4	20.4	23.1
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	7.1	$ 13.4	2.6	$ 6.9
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current	10.3		11.1
Operating Lease, Liability, Noncurrent	30.4		20.0
Operating Lease, Liability, Liability Subject to Compromise	0.0		0.4
Operating Lease, Liability	$ 40.7		$ 31.5
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

Goodwill and Intangible Assets Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Sep. 30, 2022	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020	Sep. 14, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization		$ 318.7	$ 281.8	$ 581.1	$ 771.2
Finite-Lived Intangible Assets [Line Items]
Other Asset Impairment Charges		0.0	0.0	154.9	63.5
Indefinite-lived intangible assets, gross		121.3	233.3	116.0
Intangible Assets, Net (Excluding Goodwill)		2,843.8		5,448.4
Intangible Assets, Gross (Excluding Goodwill)			3,152.2
Intangible asset amortization		$ 318.7	$ 281.8	$ 581.1	$ 771.2
Loss from continuing operations		$ (45.43)	$ (3.70)	$ (8.54)	$ (11.48)
Finite-lived intangible assets, gross		$ 3,041.2	$ 2,918.9	$ 10,601.8
Completed Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross		3,041.2		10,404.0
Reorganization, Chapter11, Post Adjustment, Successor
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)			3,152.2
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]
Indefinite-lived intangible assets, gross			104.8			$ 104.8
StrataGraft [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross			56.8
StrataGraft PRV
Finite-Lived Intangible Assets [Line Items]
Other Indefinite-lived Intangible Assets			100.0
StrataGraft PRV \| Mallinckrodt
Finite-Lived Intangible Assets [Line Items]
Proceeds from Sale of Intangible Assets	$ 65.0	65.0
StrataGraft PRV \| General Unsecured Claims Trust
Finite-Lived Intangible Assets [Line Items]
Proceeds from Sale of Intangible Assets	$ 35.0	$ 35.0
Amitiza
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross			84.5
Amitiza \| Change in Accounting Method Accounted for as Change in Estimate
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization			21.7
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization			$ 21.7
Loss from continuing operations			$ 0.26
Terlivaz \| Completed Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross						$ 17.5

Goodwill and Intangible Assets (Schedule Of Intangible Assets) (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
	Jun. 16, 2022	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020	Sep. 14, 2022
Schedule of Intangible Asset by Major Class [Line Items]
Other Asset Impairment Charges		$ 0.0	$ 0.0	$ 154.9	$ 63.5
Intangible asset amortization		318.7	281.8	581.1	771.2
Amortizable:
Finite-lived intangible assets, gross	$ 2,918.9	3,041.2	2,918.9	10,601.8
Accumulated amortization		318.7		5,269.4
Non-Amortizable:
Indefinite-lived intangible assets, gross	233.3	121.3	233.3	116.0
Asset Impairment Charges		0.0	0.0	154.9	$ 63.5
Intangible Assets, Gross (Excluding Goodwill)	3,152.2		3,152.2
Trademarks
Non-Amortizable:
Indefinite-lived intangible assets, gross		0.0		35.0
In-process research and development
Non-Amortizable:
Indefinite-lived intangible assets, gross		121.3		81.0
Completed Technology
Amortizable:
Finite-lived intangible assets, gross		3,041.2		10,404.0
Accumulated amortization		318.7		5,160.4
Licensing Agreements
Amortizable:
Finite-lived intangible assets, gross		0.0		120.1
Accumulated amortization		0.0		82.1
Trademarks
Amortizable:
Finite-lived intangible assets, gross		0.0		77.7
Accumulated amortization		$ 0.0		$ 26.9
Acthar Gel (1)
Amortizable:
Finite-lived intangible assets, gross	$ 1,069.0		$ 1,069.0
Non-Amortizable:
Finite-lived intangible assets - useful lives	13 years 6 months
Acthar Gel (1) \| Finite-Lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	14.20%		14.20%
Therakos
Amortizable:
Finite-lived intangible assets, gross	$ 913.8		$ 913.8
Non-Amortizable:
Finite-lived intangible assets - useful lives	10 years
Therakos \| Finite-Lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	14.00%		14.00%
Amitiza
Amortizable:
Finite-lived intangible assets, gross	$ 84.5		$ 84.5
Non-Amortizable:
Finite-lived intangible assets - useful lives	3 years
Amitiza \| Finite-Lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	14.00%		14.00%
Inomax
Amortizable:
Finite-lived intangible assets, gross	$ 652.9		$ 652.9
Non-Amortizable:
Finite-lived intangible assets - useful lives	9 years
Inomax \| Finite-Lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	14.00%		14.00%
StrataGraft [Member]
Amortizable:
Finite-lived intangible assets, gross	$ 56.8		$ 56.8
Non-Amortizable:
Finite-lived intangible assets - useful lives	11 years
StrataGraft [Member] \| Finite-Lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	14.00%		14.00%
Generics
Amortizable:
Finite-lived intangible assets, gross	$ 71.4		$ 71.4
Non-Amortizable:
Finite-lived intangible assets - useful lives	5 years
Generics \| Finite-Lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	13.30%		13.30%
APAP
Amortizable:
Finite-lived intangible assets, gross	$ 70.5		$ 70.5
Non-Amortizable:
Finite-lived intangible assets - useful lives	20 years 6 months
APAP \| Finite-Lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	13.00%		13.00%
Terlipressin [Member]
Non-Amortizable:
Indefinite-lived intangible assets, gross	$ 104.8		$ 104.8			$ 104.8
Terlipressin [Member] \| Indefinite-lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	15.00%		15.00%
Generics IPR&D
Non-Amortizable:
Indefinite-lived intangible assets, gross	$ 128.5		$ 128.5
Generics IPR&D \| Indefinite-lived Intangible Assets
Non-Amortizable:
Discount Rate, Present Value of Future Cash Flows	14.00%		14.00%
Terlivaz
Non-Amortizable:
Finite-lived intangible assets - useful lives	7 years
Terlivaz \| Completed Technology
Amortizable:
Finite-lived intangible assets, gross						$ 17.5

Goodwill and Intangible Assets (Schedule of Future Amortization Expense, Intangible Assets) (Details) $ in Millions	Dec. 30, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Fiscal 2020	$ 509.3
Fiscal 2021	446.1
Fiscal 2022	385.1
Fiscal 2023	337.5
Fiscal 2024	$ 284.4

Debt (Narrative) (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
Debt (Narrative) (Details) - USD ($) $ in Millions	Jun. 16, 2022	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Debt Instrument [Line Items]
Debt instrument, face amount		$ 3,534.1
Long-term Debt, Gross		3,048.5		$ 0.0
Debt Issuance Costs, Net		20.8		6.1
Repayments of Debt		50.1	$ 904.6	137.5	$ 139.5
Debtor Reorganization Items, Write-off of Debt Issuance Costs and Debt Discounts		0.0	$ 0.0	23.1	10.2
prepayment premium	1.00%		1.00%
Issuance of external debt	$ 650.0	0.0	$ 650.0	0.0	$ 0.0
4.75% senior notes due April 2023
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
Extinguishment of Debt, Amount	133.7
Five Point Six Two Five Percent Note
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
Five Point Five Percent Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
2017 Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
Debt Issuance Costs, Net		0.0		0.2
5.75% senior notes due August 2022
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
Term Loan and New Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
Term Loan due 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
Ten Point Zero Percent First Lien Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 495.0	495.0	$ 495.0
Stated interest rate	10.00%		10.00%
Debt Instrument, Redemption Price, Percentage	100.00%
Ten Point Zero Percent First Lien Notes [Member] \| Reorganization, Chapter 11, Plan Effect Adjustment
Debt Instrument [Line Items]
Debt Issuance Costs, Gross	$ 5.1		$ 5.1
Term Loans due Sept 2024 and Feb 2025 [Member]
Debt Instrument [Line Items]
Extinguishment of Debt, Amount	1,762.6
Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Debt Instrument [Line Items]
Debt instrument, face amount	$ 322.9	321.9	$ 322.9
Stated interest rate	10.00%		10.00%
Extinguishment of Debt, Amount	$ 322.9
Guaranteed Unsecured Notes
Debt Instrument [Line Items]
Extinguishment of Debt, Amount	1,512.2
9.50% debentures due May 2022
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
Extinguishment of Debt, Amount	10.4
8.00% debentures due March 2023
Debt Instrument [Line Items]
Debt instrument, face amount		0.0
Extinguishment of Debt, Amount	4.4
2017 Replacement Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount	1,392.9	$ 1,374.1	$ 1,392.9
Long-term Debt, Weighted Average Interest Rate, at Point in Time		9.99%
Debt Issuance Costs, Net		$ 0.0		0.0
2017 Replacement Term Loan \| Reorganization, Chapter 11, Plan Effect Adjustment
Debt Instrument [Line Items]
Debt instrument, face amount	1,392.9		1,392.9
2018 Replacement Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount	369.7	$ 364.8	369.7
Long-term Debt, Weighted Average Interest Rate, at Point in Time		10.24%
Debt Issuance Costs, Net		$ 0.0		0.0
2018 Replacement Term Loan \| Reorganization, Chapter 11, Plan Effect Adjustment
Debt Instrument [Line Items]
Debt instrument, face amount	$ 369.7		$ 369.7
Eleven Point Five Percent First Lien Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, face amount		650.0
Stated interest rate	11.50%		11.50%
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Issuance Costs, Net		20.8		0.0
Ten Point Zero Percent Second Lien Notes due 2029
Debt Instrument [Line Items]
Debt instrument, face amount		328.3
Stated interest rate	10.00%		10.00%
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Issuance Costs, Net		0.0		0.0
Ten Point Zero Percent Second Lien Notes due 2029 \| Reorganization, Chapter 11, Plan Effect Adjustment
Debt Instrument [Line Items]
Debt instrument, face amount	$ 375.0		$ 375.0
Receivables Financing Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 200.0		$ 200.0
Debentures \| 4.75% senior notes due April 2023
Debt Instrument [Line Items]
Debt Issuance Costs, Net		0.0		0.0
Debentures \| Five Point Six Two Five Percent Note
Debt Instrument [Line Items]
Stated interest rate	5.625%		5.625%
Debt Issuance Costs, Net		0.0		0.0
Debentures \| Five Point Five Percent Notes [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Net		0.0		0.0
Debentures \| 5.75% senior notes due August 2022
Debt Instrument [Line Items]
Debt Issuance Costs, Net		0.0		0.0
Debentures \| 9.50% debentures due May 2022
Debt Instrument [Line Items]
Debt Issuance Costs, Net		0.0		0.0
Debentures \| 8.00% debentures due March 2023
Debt Instrument [Line Items]
Debt Issuance Costs, Net		0.0		0.0
Senior Notes \| 4.75% senior notes due April 2023
Debt Instrument [Line Items]
Stated interest rate	4.75%		4.75%
Senior Notes \| Five Point Five Percent Notes [Member]
Debt Instrument [Line Items]
Stated interest rate	5.50%		5.50%
Senior Notes \| 5.75% senior notes due August 2022
Debt Instrument [Line Items]
Stated interest rate	5.75%		5.75%
Senior Notes \| Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Debt Instrument [Line Items]
Stated interest rate	10.00%		10.00%
Senior Notes \| Eleven Point Five Percent First Lien Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate	11.50%		11.50%
Secured Debt \| Term Loan and New Term Loan
Debt Instrument [Line Items]
Debt Issuance Costs, Net		0.0		0.0
Secured Debt \| Term Loan due 2025 [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Net		0.0		0.0
Secured Debt \| Ten Point Zero Percent First Lien Notes [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Net		0.0		5.9
Secured Debt \| Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Debt Instrument [Line Items]
Debt Issuance Costs, Net		$ 0.0		$ 0.0
Option A \| Ten Point Zero Percent First Lien Notes [Member]
Debt Instrument [Line Items]
Repurchase percentage	101.00%
Option A \| Eleven Point Five Percent First Lien Senior Secured Notes
Debt Instrument [Line Items]
Repurchase percentage	101.00%
Option A \| Ten Point Zero Percent Second Lien Notes due 2029
Debt Instrument [Line Items]
Repurchase percentage	101.00%
Option B \| Ten Point Zero Percent First Lien Notes [Member]
Debt Instrument [Line Items]
Repurchase percentage	100.00%
Option B \| Eleven Point Five Percent First Lien Senior Secured Notes
Debt Instrument [Line Items]
Repurchase percentage	100.00%
Option B \| Ten Point Zero Percent Second Lien Notes due 2029
Debt Instrument [Line Items]
Repurchase percentage	100.00%
Debentures \| 9.50% debentures due May 2022
Debt Instrument [Line Items]
Stated interest rate	9.50%		9.50%
Debentures \| 8.00% debentures due March 2023
Debt Instrument [Line Items]
Stated interest rate	8.00%		8.00%
London Interbank Offered Rate (LIBOR) [Member] \| 2017 Replacement Term Loan
Debt Instrument [Line Items]
Variable interest rate	5.25%
London Interbank Offered Rate (LIBOR) [Member] \| 2017 Replacement Term Loan \| Minimum
Debt Instrument [Line Items]
Variable interest rate	0.75%
London Interbank Offered Rate (LIBOR) [Member] \| 2018 Replacement Term Loan
Debt Instrument [Line Items]
Variable interest rate	5.50%
London Interbank Offered Rate (LIBOR) [Member] \| 2018 Replacement Term Loan \| Minimum
Debt Instrument [Line Items]
Variable interest rate	0.75%
Alternate Base Rate \| 2017 Replacement Term Loan
Debt Instrument [Line Items]
Variable interest rate	4.25%
Alternate Base Rate \| 2017 Replacement Term Loan \| Minimum
Debt Instrument [Line Items]
Variable interest rate	1.75%
Alternate Base Rate \| 2018 Replacement Term Loan
Debt Instrument [Line Items]
Variable interest rate	4.50%
Alternate Base Rate \| 2018 Replacement Term Loan \| Minimum
Debt Instrument [Line Items]
Variable interest rate	1.75%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| 2017 and 2018 Replacement Term Loan \| One Month
Debt Instrument [Line Items]
Variable interest rate	0.11448%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| 2017 and 2018 Replacement Term Loan \| Three Months
Debt Instrument [Line Items]
Variable interest rate	0.26161%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| 2017 and 2018 Replacement Term Loan \| Six Months
Debt Instrument [Line Items]
Variable interest rate	0.42826%

Debt (Schedule of Long term debt) (Details) - USD ($) $ in Millions	Jun. 16, 2022	Dec. 30, 2022	Dec. 31, 2021
Long-term Debt, Current Maturities [Abstract]
Long-term Debt, Current Maturities		$ (44.1)	$ (1,395.0)
Long-term Debt, Excluding Current Maturities [Abstract]
Long-term Debt, Gross		3,048.5	0.0
Debt Issuance Costs, Noncurrent, Net		20.8	0.0
Debt Issuance Costs, Net		20.8	6.1
Debt, Long-term and Short-term, Combined Amount		3,092.6	5,145.8
Debt Issuance Costs, Current, Net		0.0	(6.1)
Liabilities Subject to Compromise		0.0	(6,397.7)
Debt instrument, face amount		3,534.1
Long-term Debt, Excluding Current Maturities		3,490.0
Long-term Debt [Member]
Long-term Debt, Excluding Current Maturities [Abstract]
Liabilities Subject to Compromise		0.0	(3,750.8)
Liabilities Subject to Compromise
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
8.00% debentures due March 2023
Long-term Debt, Excluding Current Maturities [Abstract]
Debt, Long-term and Short-term, Combined Amount		0.0	4.4
Debt instrument, face amount		0.0
Extinguishment of Debt, Amount	$ 4.4
4.75% senior notes due April 2023
Long-term Debt, Excluding Current Maturities [Abstract]
Debt, Long-term and Short-term, Combined Amount		0.0	133.7
Debt instrument, face amount		0.0
Extinguishment of Debt, Amount	133.7
9.50% debentures due May 2022
Long-term Debt, Excluding Current Maturities [Abstract]
Debt, Long-term and Short-term, Combined Amount		0.0	10.4
Debt instrument, face amount		0.0
Extinguishment of Debt, Amount	10.4
5.75% senior notes due August 2022
Long-term Debt, Excluding Current Maturities [Abstract]
Debt, Long-term and Short-term, Combined Amount		0.0	610.3
Debt instrument, face amount		0.0
Five Point Six Two Five Percent Note
Long-term Debt, Excluding Current Maturities [Abstract]
Debt, Long-term and Short-term, Combined Amount		0.0	514.7
Debt instrument, face amount		0.0
Five Point Five Percent Notes [Member]
Long-term Debt, Excluding Current Maturities [Abstract]
Debt, Long-term and Short-term, Combined Amount		0.0	387.2
Debt instrument, face amount		0.0
2017 Revolving Credit Facility
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.2
Debt, Long-term and Short-term, Combined Amount			900.0
Secured Debt		0.0	900.0
Debt instrument, face amount		0.0
Term Loan due Sept 2024 [Member]
Long-term Debt, Excluding Current Maturities [Abstract]
Secured Debt		0.0	1,396.5
Term Loan due 2025 [Member]
Long-term Debt, Excluding Current Maturities [Abstract]
Secured Debt		0.0	370.7
Debt instrument, face amount		0.0
Ten Point Zero Percent First Lien Notes [Member]
Long-term Debt, Excluding Current Maturities [Abstract]
Secured Debt		475.9	495.0
Debt instrument, face amount	495.0	495.0
Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Long-term Debt, Excluding Current Maturities [Abstract]
Secured Debt		242.2	0.0
Debt instrument, face amount	322.9	321.9
Extinguishment of Debt, Amount	322.9
2017 Replacement Term Loan
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Debt, Long-term and Short-term, Combined Amount		1,374.1
Secured Debt		1,222.1	0.0
Debt instrument, face amount	1,392.9	1,374.1
2018 Replacement Term Loan
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Debt, Long-term and Short-term, Combined Amount		364.8
Secured Debt		326.9	0.0
Debt instrument, face amount	369.7	364.8
Eleven Point Five Percent First Lien Senior Secured Notes
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		20.8	0.0
Secured Debt		650.0	0.0
Debt instrument, face amount		650.0
Ten Point Zero Percent Second Lien Notes due 2029
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Secured Debt		175.5	0.0
Debt instrument, face amount		328.3
Term Loan and New Term Loan
Long-term Debt, Excluding Current Maturities [Abstract]
Secured Debt		0.0	1,396.5
Debt instrument, face amount		0.0
Ten Point Zero Percent Second Lien Notes (Existing Notes)
Long-term Debt, Excluding Current Maturities [Abstract]
Secured Debt		0.0	322.9
Debt instrument, face amount	$ 322.9	0.0
Debentures \| 8.00% debentures due March 2023
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Debentures \| 4.75% senior notes due April 2023
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Debentures \| 9.50% debentures due May 2022
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Debentures \| 5.75% senior notes due August 2022
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Debentures \| Five Point Six Two Five Percent Note
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Debentures \| Five Point Five Percent Notes [Member]
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Secured Debt \| Term Loan due 2025 [Member]
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Secured Debt \| Ten Point Zero Percent First Lien Notes [Member]
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	5.9
Secured Debt \| Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Secured Debt \| Term Loan and New Term Loan
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		0.0	0.0
Secured Debt \| Ten Point Zero Percent Second Lien Notes (Existing Notes)
Long-term Debt, Excluding Current Maturities [Abstract]
Debt Issuance Costs, Net		$ 0.0	$ 0.0

Debt (Schedule of Maturities of Long-term Debt) (Details) $ in Millions	Dec. 30, 2022 USD ($)
Debt Disclosure [Abstract]
Fiscal 2022	$ 44.1
Fiscal 2023	33.0
Fiscal 2024	861.0
Fiscal 2025	44.0
Fiscal 2024	$ 1,573.7

Debt Schedule of Outstanding Borrowings and Applicable Rates (Details) - USD ($) $ in Millions	Oct. 12, 2020	Dec. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount		$ 3,092.6	$ 5,145.8
Term Loan due Sept 2024 [Member]
Debt Instrument [Line Items]
Secured Debt		0.0	1,396.5
Term Loan due 2025 [Member]
Debt Instrument [Line Items]
Secured Debt		0.0	370.7
2017 Revolving Credit Facility
Debt Instrument [Line Items]
Secured Debt		$ 0.0	900.0
Fixed-rate instruments
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time		10.54%
Debt, Long-term and Short-term, Combined Amount		$ 1,795.2
2017 Replacement Term Loan
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time		9.99%
Debt, Long-term and Short-term, Combined Amount		$ 1,374.1
Secured Debt		$ 1,222.1	0.0
2018 Replacement Term Loan
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time		10.24%
Debt, Long-term and Short-term, Combined Amount		$ 364.8
Secured Debt		$ 326.9	$ 0.0
Secured Debt
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Increase (Decrease)	200.00%
Term Loans due Sept 2024 and Feb 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Increase (Decrease)	250.00%

Retirement Plans Narrative (Details) $ in Millions	12 Months Ended
Retirement Plans Narrative (Details) $ in Millions	Dec. 30, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of Life Insurance Contract Held in Rabbi Trust \| contract	55	57
Deferred Compensation Plan Assets	$ 39.5	$ 43.4
Deferred Compensation Plan Assets, Death Benefit on Insurance Contracts	81.0	86.4
Deferred Compensation Plan Assets, Loans Outstanding Against Insurance Contracts	21.6	20.8
Deferred Compensation Plan Assets, Collateral For Plan Benefits	$ 7.3
Defined Benefit Plan, Percentage of Projected Benefit Obligation	33.90%
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	1.00%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	5.50%
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Benefit Obligation	$ 18.7	27.3
Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Benefit Obligation	26.8	$ 37.3
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

Retirement Plans (Defined Contribution Plan) (Details) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022 USD ($)	Jun. 16, 2022 USD ($)	Dec. 30, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract	Dec. 25, 2020 USD ($)
Defined Contribution Plan Disclosure [Line Items]
Number of Life Insurance Contract Held in Rabbi Trust \| contract			55	57
Deferred Compensation Plan Assets, Collateral For Plan Benefits	$ 7.3		$ 7.3
Foreign Plan
Defined Contribution Plan Disclosure [Line Items]
Deferred Compensation Plan Assets, Collateral For Plan Benefits				$ 7.9
Defined Contribution Plan, 401 K [Member]
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of match			50.00%
Defined Contribution Plan, Cost	$ 7.8	$ 9.6		$ 22.2	$ 26.0

Equity (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 30, 2022	Dec. 31, 2021	Dec. 25, 2020	Sep. 29, 2022	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)	$ 0.01		$ 0.01
Preferred shares, shares issued (in shares)	0		0
Share-based Payment Arrangement, Cash Used to Settle Award					$ 0.4
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture				$ 0.1	(0.5)
Treasury Shares
Class of Stock [Line Items]
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture			$ 0.0	0.0	(0.4)
September 2022 Share Repurchase Program
Class of Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased						1,317,093
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	$ 0.0

Share Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 30, 2022	Dec. 31, 2021	Dec. 25, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation cost	$ 1.4	$ 1.7		$ 10.2	$ 25.3
Tax benefit from share-based compensation cost	0.0	$ 0.0		$ 0.0	$ 0.0
Shares authorized under 2013 Plan		1,800,000
Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period			4 years
Expiration period			10 years
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period to recognize unrecognized compensation cost, share options			2 years 2 months 12 days
Unrecognized compensation cost, restricted share units	$ 9.4		$ 9.4
Performance Shares Award, Performance Period			3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value, granted restricted share units	$ 2.51
Weighted-average period to recognize unrecognized compensation cost, share options			1 year 10 months 24 days
Unrecognized compensation cost, restricted share units	$ 1.7		$ 1.7
Performance Shares \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value, granted restricted share units	$ 8.34
Unrecognized compensation cost, restricted share units	$ 5.5		$ 5.5
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%

Share Plans (Schedule of Share Option Award Status Upon Completion of the Conversion) (Details) - $ / shares	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Share-based Payment Arrangement [Abstract]
Share options outstanding	890,485	0	5,553,519	6,069,712	6,890,700
Weighted-average exercise price, outstanding share options	$ 12.03	$ 0	$ 35.05	$ 35.95	$ 36.39

Share Plans (Schedule of the Valuation Assumptions Used in the Conversion) (Details) - shares	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Weighted Average Assumptions
Share options outstanding	890,485	0	5,553,519	6,069,712	6,890,700

Share Plans (Schedule of Share Option Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
(Benefit) expense from income taxes	$ (52.0)	$ (497.3)	$ (106.3)	$ 8.9
Share Option Activity [Roll Forward]
Beginning balance	0	5,553,519	6,069,712	6,890,700
Expired/Forfeited		(5,553,519)	(516,193)	(820,988)
Ending balance	890,485	0	5,553,519	6,069,712
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-average exercise price, expired and forfeited share options		$ 35.05	$ 45.63	$ 39.65

Performance Share Unit Activity [Roll Forward]

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Share Plans (Schedule of Restricted Share Unit Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 30, 2022	Dec. 31, 2021	Dec. 25, 2020	Dec. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share options outstanding	890,485	0	890,485	5,553,519	6,069,712	6,890,700
Weighted-average exercise price, outstanding share options	$ 12.03	$ 0	$ 12.03	$ 35.05	$ 35.95	$ 36.39
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period to recognize unrecognized compensation cost, share options			2 years 2 months 12 days
Restricted Share Unit Activity [Roll Forward]
Beginning balance		242,897	242,897	490,671	1,419,020
Granted	890,485
Exercised				(186,930)	(647,167)
Expired/Forfeited		(242,897)		(60,844)	(281,182)
Ending balance				242,897	490,671
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
Weighted-average grant date fair value, vested restricted share units				23.43	24.23
Weighted-average grant date fair value, forfeited restricted share units	$ 12.03	$ 19.40		$ 19.58	$ 22.11
Performance Shares Award, Performance Period			3 years
Restricted Share Units \| Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based Compensation Arrangements by Share-based Payment Award, Equity Instruments Other than Options, Granted in Period, Fair value	$ 10.7

Share Plans (Schedule of Performance Share Unit Activity) (Details) - USD ($)
$ / shares in Units, $ in Millions

6 Months Ended

12 Months Ended

Dec. 30, 2022

Jun. 16, 2022

Dec. 30, 2022

Dec. 25, 2020

Dec. 27, 2019

Performance Shares

Beginning balance

1,195,505

^[1]

Granted

675,821

Expired/Forfeited

^[1]

1,195,505

Ending balance

675,821

^[1]

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

$ 8.34

$ 0

$ 8.34

$ 0

$ 23.85

Weighted-average grant date fair value, granted restricted share units

2.51

Weighted-average grant date fair value, forfeited restricted share units

8.34

$ 23.85

Weighted-average period to recognize unrecognized compensation cost, share options

1 year 10 months 24 days

Performance Shares | Performance Shares

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, granted restricted share units

$ 8.34

Deferred Compensation Arrangement with Individual, Compensation Expense

$ 0.1

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) - Performance Shares	6 Months Ended
	Dec. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected share price volatility	38.90%
Peer group stock price volatility	128.00%
Correlation of returns	24.40%

Guarantees (Narrative) (Details) - USD ($) $ in Millions	Dec. 30, 2022	Dec. 31, 2021
Others
Guarantor Obligations [Line Items]
Maximum future payments	$ 30.1
Asset Pledged as Collateral [Member]
Guarantor Obligations [Line Items]
Restricted Cash	37.9
Mallinckrodt Baker \| Indemnification Agreement
Guarantor Obligations [Line Items]
Escrow	30.0
Mallinckrodt Baker \| Indemnification Agreement \| Other Liabilities
Guarantor Obligations [Line Items]
Guarantors obligation		$ 14.9
Mallinckrodt Baker \| Indemnification Agreement \| Other Assets
Guarantor Obligations [Line Items]
Escrow	$ 19.3	19.0
Mallinckrodt Baker \| Enviornmental, Health and Safety Matters \| Indemnification Agreement \| Other Liabilities
Guarantor Obligations [Line Items]
Guarantors obligation		$ 12.1

Commitments and Contingencies (Narrative) (Details)

6 Months Ended

12 Months Ended

Feb. 01, 2020

USD ($)

Jun. 30, 2018

Defendent

May 01, 2007

Defendent

Dec. 30, 2022

USD ($)

Jun. 16, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 25, 2020

USD ($)

Sep. 28, 2021

USD ($)

Jun. 28, 2019

USD ($)

Aug. 07, 2018

USD ($)

Apr. 11, 2014

USD ($)

Environmental liabilities

$ 36,900,000

Liabilities subject to compromise

$ (536,000,000.0)

$ 6,397,700,000

Environmental liabilities

35,800,000

43,000,000.0

Occidental, Lower Passaic River [Member]

^[1]

$ 0

^[1]

$ (536,000,000.0)

^[1]

Number of defendants | Defendent

120

Lower Passaic River, New Jersey

Environmental liabilities

21,000,000

Loss Contingency, Settlement Agreement, Amount

$ 280,600

Marietta, GA Litigation [Member]

$ 1,380,000,000

$ 1,700,000,000

Loss Contingency, Damages Sought, Value

$ 2,000,000

Upper 9 Miles, Lower Passaic River, New Jersey

Other current liabilities

$ 441,000,000

Environmental liabilities, current

1,100,000

Lower Passaic River, New Jersey

Number of defendants | Defendent

Minimum

Minimum | Lower Passaic River, New Jersey

18,400,000

365,000,000

Maximum

Maximum | Lower Passaic River, New Jersey

48,500,000

Maximum | Medicaid Lawsuit [Member]

$ 3,200,000,000

Fair Value, Measurements, Recurring

$ 640,000,000

Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3

Contingent consideration

7,300,000

27,300,000

Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Stratatech [Member]

Contingent consideration

$ 7,300,000

27,300,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability

$ 27,300,000

[1]	Specialty Brands net sales for fiscal 2020 (Predecessor) 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 (Predecessor).

Financial Instruments and Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021	Dec. 25, 2020
Carrying Value \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	$ 57.2		$ 60.2
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	46.7		51.3
Restricted Cash and Investments, Current	20.6	$ 113.0	24.0	$ 20.2
Restricted Cash and Investments, Noncurrent	36.6	36.4	36.2	36.2
Professional Fees Escrow Account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	0.0	89.0
Silence Therapeutics [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized Gain (Loss) on Investments	(9.2)	$ (22.2)	(4.7)	(3.8)
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%
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 \| 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%
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%
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 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%
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration upon acquisition	7.3		27.3
Debt and equity securities held in rabbi trusts	36.6		38.7
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	24.8		24.9
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	11.8		13.8
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	7.3		27.3
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
Nuclear Imaging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration received, equity certificates				$ 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. 30, 2022	Dec. 31, 2021
Assets:
Debt and equity securities held in rabbi trusts	$ 36.6	$ 38.7
Other Assets, Fair Value Disclosure	25.5	36.5
Total assets at fair value	62.1	75.2
Liabilities:
Deferred compensation liabilities	26.0	36.9
Contingent consideration	7.3	27.3
Total liabilities at fair value	33.3	64.2
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Debt and equity securities held in rabbi trusts	24.8	24.9
Other Assets, Fair Value Disclosure	25.5	36.5
Total assets at fair value	50.3	61.4
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	11.8	13.8
Other Assets, Fair Value Disclosure	0.0	0.0
Total assets at fair value	11.8	13.8
Liabilities:
Deferred compensation liabilities	26.0	36.9
Contingent consideration	0.0	0.0
Total liabilities at fair value	26.0	36.9
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	7.3	27.3
Total liabilities at fair value	$ 7.3	$ 27.3

(Schedule of Reconciliation of Changes in Fair Value of Contingent Consideration) (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liabilities Subject to Compromise, Contingent Considerations		$ (27.3)
Reorganization, Chapter 11, Plan Effect Adjustment
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration		(41.8)
Fair Value, Measurements, Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	$ 7.3		$ 27.3
Fair Value, Inputs, Level 3 \| Fair Value, Measurements, Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	7.3		27.3
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
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	6.8	27.3
Ending balance	7.3	6.8
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ 0.5
StrataGraft CVR \| Reorganization, Chapter 11, Plan Effect Adjustment
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability		$ 6.8

(Schedule of Carrying Amount and Fair Value of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 30, 2022	Jun. 16, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	$ 2,684.6		$ 4,267.9
Long-term Debt, Current Maturities	44.1		1,395.0
Long-term Debt, Gross	3,048.5		0.0
Debt, Long-term and Short-term, Combined Amount	3,092.6		5,145.8
9.50% debentures due May 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		7.7
Debt, Long-term and Short-term, Combined Amount	0.0		10.4
5.75% senior notes due August 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		324.1
Debt, Long-term and Short-term, Combined Amount	0.0		610.3
8.00% debentures due March 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		3.2
Debt, Long-term and Short-term, Combined Amount	0.0		4.4
4.75% senior notes due April 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		48.9
Debt, Long-term and Short-term, Combined Amount	0.0		133.7
Five Point Five Percent Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		211.6
Debt, Long-term and Short-term, Combined Amount	0.0		387.2
2017 Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		900.0
Secured Debt	0.0		900.0
Debt, Long-term and Short-term, Combined Amount			900.0
Five Point Six Two Five Percent Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		279.1
Debt, Long-term and Short-term, Combined Amount	0.0		514.7
Term Loan due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		347.7
Secured Debt	0.0		370.7
Term Loan due Sept 2024 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		1,309.2
Secured Debt	0.0		1,396.5
Ten Point Zero Percent First Lien Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	425.9		523.7
Secured Debt	475.9		495.0
Stated interest rate		10.00%
Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	216.8		0.0
Secured Debt	242.2		0.0
Stated interest rate		10.00%
Eleven Point Five Percent First Lien Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	552.6		0.0
Secured Debt	650.0		0.0
Stated interest rate		11.50%
Ten Point Zero Percent Second Lien Notes due 2029
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	176.7		0.0
Secured Debt	175.5		0.0
Stated interest rate		10.00%
Ten Point Zero Percent Second Lien Notes (Existing Notes)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	0.0		312.7
Secured Debt	0.0		322.9
2017 Replacement Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	1,037.8		0.0
Debt, Long-term and Short-term, Combined Amount	1,374.1
Secured Debt	1,222.1		0.0
2018 Replacement Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	274.8		0.0
Debt, Long-term and Short-term, Combined Amount	364.8
Secured Debt	$ 326.9		$ 0.0
Debentures \| 9.50% debentures due May 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		9.50%
Debentures \| 8.00% debentures due March 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		8.00%
Senior Notes \| 5.75% senior notes due August 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		5.75%
Senior Notes \| 4.75% senior notes due April 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		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 (New 2L Notes)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		10.00%
Senior Notes \| Eleven Point Five Percent First Lien Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		11.50%
Debentures \| Five Point Six Two Five Percent Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		5.625%
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 \| 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] \| Senior Notes \| Ten Point Zero Percent Second Lien Notes (New 2L Notes)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		10.00%
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)	6 Months Ended		12 Months Ended
(Schedules of Concentration of Risk) (Details)	Dec. 30, 2022	Jun. 16, 2022	Dec. 30, 2022	Dec. 31, 2021	Dec. 25, 2020
Distributor Concentration Risk \| Revenue from Contract with Customer Benchmark [Member] \| CuraScript, Inc [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		15.60%		26.10%	27.40%
Distributor Concentration Risk \| Revenue from Contract with Customer Benchmark [Member] \| FFF Enterprises, Inc.
Concentration Risk [Line Items]
Concentration risk, percentage	26.10%	11.80%
Distributor Concentration Risk \| Accounts Receivable Attributable to Distributors \| CuraScript, Inc [Member]
Concentration Risk [Line Items]
Concentration risk, percentage				12.70%
Distributor Concentration Risk \| Accounts Receivable Attributable to Distributors \| McKesson Corporation [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			17.30%	15.00%
Distributor Concentration Risk \| Accounts Receivable Attributable to Distributors \| Amerisource Bergen Corporation [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			23.30%	30.00%
Distributor Concentration Risk \| Accounts Receivable Attributable to Distributors \| FFF Enterprises, Inc.
Concentration Risk [Line Items]
Concentration risk, percentage			16.20%
Product Concentration Risk \| Net Sales Attributable to Products \| Acthar Gel (1)
Concentration Risk [Line Items]
Concentration risk, percentage	28.30%	25.40%		26.90%	27.90%
Product Concentration Risk \| Net Sales Attributable to Products \| Inomax
Concentration Risk [Line Items]
Concentration risk, percentage	16.70%	19.00%		20.30%	20.90%
Product Concentration Risk \| Net Sales Attributable to Products \| Ofirmev [Member]
Concentration Risk [Line Items]
Concentration risk, percentage					10.10%
Product Concentration Risk \| Net Sales Attributable to Products \| Therakos
Concentration Risk [Line Items]
Concentration risk, percentage	12.50%	12.50%		12.10%
Product Concentration Risk \| Net Sales Attributable to Products \| APAP
Concentration Risk [Line Items]
Concentration risk, percentage	10.70%	11.00%

Segment and Geographical Data (Schedule of Segment Reporting Information by Business Segment) (Details) - USD ($)
$ in Millions

6 Months Ended

12 Months Ended

Dec. 30, 2022

Jun. 16, 2022

Dec. 31, 2021

Dec. 25, 2020

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

$ 1,039.7

$ 874.6

$ 2,208.8

$ 2,213.4

Intangible asset amortization

(316.7)

(57.8)

(202.9)

(651.6)

(318.7)

(281.8)

(581.1)

(771.2)

Other Asset Impairment Charges

(12.1)

(9.6)

(29.0)

(49.8)

0.0

(154.9)

(63.5)

0.0

125.0

(43.4)

Depreciation and amortization

347.5

321.8

675.8

885.2

Restructuring and related costs, accelerated depreciation

1.0

0.0

2.1

12.3

Employee Benefits and Share-based Compensation

536.0

(1.4)

(1.7)

(10.2)

(25.3)

Petition Amount Filed with Bankruptcy Court

Bad Debt Expense, Customer Bankruptcy, Pre-Petition Amount

(6.4)

0.0

Medicaid Lawsuit [Member]

Decrease in revenue

40.4

Specialty Brands [Member]

0.0

^[1]

0.0

^[1]

536.0

^[1]

Specialty Generics [Member]

0.0

(0.1)

(0.8)

(3.5)

(4.9)

(0.1)

Operating Segments

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

1,039.7

874.6

2,208.8

2,749.4

Operating Segments | Specialty Brands [Member]

110.2

332.5

920.7

1,222.1

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

682.4

^[1]

587.1

1,547.0

^[1]

2,059.6

^[1]

Depreciation and amortization

113.8

267.2

812.8

1,015.7

323.6

288.4

597.7

799.3

Operating Segments | Specialty Generics [Member]

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

357.3

287.5

661.8

689.8

Depreciation and amortization

(3.6)

65.3

107.9

206.4

23.9

33.4

78.1

85.9

Corporate, Non-Segment

Corporate and allocated expenses

(39.3)

^[2]

(48.2)

(129.6)

^[2]

(166.1)

^[2]

Intangible asset amortization

(347.5)

(321.8)

(675.8)

(885.2)

Other Asset Impairment Charges

(11.1)

(9.6)

(26.9)

(37.5)

0.0

(154.9)

(63.5)

Separation costs

21.2

^[3]

9.0

1.2

^[3]

93.4

^[3]

R&D upfront payment

0.0

^[4]

0.0

^[4]

(5.0)

^[4]

0.0

(125.0)

43.4

$ 0.0

^[1]

$ 0.0

^[1]

$ (641.1)

[1]	Specialty Brands net sales for fiscal 2020 (Predecessor) 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 (Predecessor).
[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 expenses incurred related to the severance for the former CEO and certain former executives of the Predecessor, in addition to professional fees and costs incurred as the Company explores potential sales of non-core assets to enable further deleveraging post-emergence from bankruptcy during the period from June 17, 2022 through December 30, 2022 (Successor). Costs incurred during the Predecessor periods include 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 were 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 Terlivaz during fiscal 2020.

Segment and Geographical Data (Schedule of Net Sales from External Costumers by Product) (Details) - USD ($)
$ in Millions

6 Months Ended

12 Months Ended

Dec. 30, 2022

Jun. 16, 2022

Dec. 31, 2021

Dec. 25, 2020

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

$ 1,039.7

$ 874.6

$ 2,208.8

$ 2,213.4

536.0

0.0

^[1]

0.0

^[1]

536.0

^[1]

Operating Segments

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

1,039.7

874.6

2,208.8

2,749.4

Operating Segments | Specialty Brands [Member]

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

682.4

^[1]

587.1

1,547.0

^[1]

2,059.6

^[1]

Operating Segments | Specialty Generics [Member]

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

357.3

287.5

661.8

689.8

Corporate, Non-Segment

Acthar Gel (1) | Operating Segments | Specialty Brands [Member]

0.0

^[1]

0.0

^[1]

(641.1)

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

294.1

^[2]

221.9

593.6

^[2]

767.9

^[2]

Inomax | Operating Segments | Specialty Brands [Member]

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

173.9

165.8

448.5

574.1

Ofirmev | Operating Segments | Specialty Brands [Member]

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

(0.3)

2.5

28.9

276.5

Therakos | Operating Segments | Specialty Brands [Member]

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

130.5

109.6

266.5

238.6

Amitiza | Operating Segments | Specialty Brands [Member]

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

77.1

^[3]

81.5

196.9

^[3]

188.8

^[3]

Other Products | Operating Segments | Specialty Brands [Member]

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

7.1

5.8

12.6

13.7

Opioids | Specialty Generics [Member]

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

117.9

88.8

213.2

233.9

ADHD | Specialty Generics [Member]

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

28.4

17.5

37.4

48.3

Addiction Treatment | Specialty Generics [Member]

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

35.0

30.0

68.3

68.9

Other Generics | Specialty Generics [Member]

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

6.8

4.9

12.0

7.3

Generics | Specialty Generics [Member]

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

188.1

141.2

330.9

358.4

Controlled substances | Specialty Generics [Member]

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

47.0

37.6

93.4

98.3

APAP | Specialty Generics [Member]

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

111.4

96.5

215.9

213.0

Other API | Specialty Generics [Member]

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

10.8

12.2

21.6

20.1

API | Specialty Generics [Member]

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

$ 169.2

$ 146.3

$ 330.9

$ 331.4

[1]	Specialty Brands net sales for fiscal 2020 (Predecessor) 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 (Predecessor).
[2]	Fiscal 2020 (Predecessor) includes the prospective change to the Medicaid rebate calculation of $40.4 million for the period from June 15, 2020 through December 25, 2020 (Predecessor).
[3]	Amitiza net sales consist of both product and royalty net sales. Refer to Note 5 for further details on Amitiza's revenues.

Segment and Geographical Data (Schedule of Net Sales and Long-Lived Assets by Geographic Area) (Details) - USD ($)
$ in Millions

6 Months Ended

12 Months Ended

Dec. 30, 2022

Jun. 16, 2022

Dec. 31, 2021

Dec. 25, 2020

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

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

$ 1,039.7

$ 874.6

$ 2,208.8

$ 2,213.4

468.4

790.2

536.0

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

0.0

^[1]

0.0

^[1]

536.0

^[1]

Operating Segments

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

1,039.7

874.6

2,208.8

2,749.4

United States

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

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

928.3

^[2]

784.2

1,991.8

^[2]

2,465.5

^[2]

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

287.3

629.3

EMEA

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

100.4

^[2]

73.6

181.8

^[2]

227.5

^[2]

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

178.0

156.2

Other Countries

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

11.0

^[2]

$ 16.8

35.2

^[2]

$ 56.4

^[2]

Other Address

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

Schedule of Net Sales and Long-Lived Assets by Geographic Area [Line Items]

3.1

4.7

IRELAND