Acquisitions and Divestitures (Tables)

9 Months Ended

Oct. 01, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the consideration paid for HRA Pharma and the provisional amounts of the assets acquired and liabilities assumed (in millions):


	HRA Pharma
Purchase Price	$	1,945.6

Assets Acquired
Cash and cash equivalents	$	44.2
Accounts receivable	78.1
Inventories	37.3
Prepaid expenses and other current assets	16.7
Property, plant and equipment	4.6
Operating lease assets	9.7
Goodwill	618.1
Definite-lived intangible assets
Trademarks and trade names	1,072.3
Developed product technology	170.2
Distribution networks	82.3
Indefinite lived intangibles
In-process research and development	63.3
Total intangible assets	1,388.1
Deferred income taxes	10.3
Other non-current assets	0.8
Total assets	2,207.9
Liabilities assumed
Accounts payable	43.4
Payroll and related taxes	16.1
Accrued customer programs	9.0

Other accrued liabilities	13.7
Accrued income taxes	0.4
Deferred income taxes	169.0
Other non-current liabilities	10.6
Total liabilities	262.2
Non-Controlling Interest	0.1
Net Assets Acquired	$	1,945.6

Pro Forma Impact of Business Combinations

The following table presents unaudited pro forma information as if the HRA Pharma acquisition had occurred on January 1, 2021 and had been combined with the results reported in our Consolidated Statements of Operations for all periods presented (in millions):


	Three Months Ended				Nine Months Ended
(Unaudited)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Net sales	$	1,100.2	$	1,122.8	$	3,404.1	$	3,268.9
Income (loss) from continuing operations(1)	$	(43.9)	$	(62.8)	$	(79.5)	$	(277.1)

(1) Includes $65.5 million of nonrecurring acquisition-related charges for the nine months ended October 2, 2021.