v3.25.2
Financial Instruments and Fair Value Measurements (Tables)
6 Months Ended
Jun. 27, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following tables provide a summary of the significant assets and liabilities that are measured at fair value on a recurring basis at the end of each period:
Fair Value Measurement
Using Fair Value Hierarchy:
June 27,
2025
Level 1Level 2Level 3
Assets:
Debt and equity securities held in rabbi trusts$26.2 $17.3 $8.9 $— 
Equity securities9.8 9.8 — — 
Interest rate cap2.3 — 2.3 — 
$38.3 $27.1 $11.2 $— 
Liabilities:
Deferred compensation liabilities$21.1 $— $21.1 $— 
Contingent consideration liabilities18.3 — — 18.3 
$39.4 $— $21.1 $18.3 
Fair Value Measurement
Using Fair Value Hierarchy:
December 27,
2024
Level 1Level 2Level 3
Assets:
Debt and equity securities held in rabbi trusts$25.4 $17.4 $8.0 $— 
Equity securities12.0 12.0 — — 
Interest rate cap5.3 — 5.3 — 
$42.7 $29.4 $13.3 $— 
Liabilities:
Deferred compensation liabilities$22.5 $— $22.5 $— 
Contingent consideration liabilities17.5 — — 17.5 
$40.0 $— $22.5 $17.5 
Schedule of Carrying Amount and Fair Value of Long-term Debt The following table presents the carrying values and estimated fair values of the Company's debt as of the end of each period:
June 27, 2025December 27, 2024
Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
Level 1:
14.75% Second-Out Takeback Notes due November 2028$501.7 $495.3 $505.4 $511.6 
Level 2:
Second-Out Takeback Term Loan Due November 2028405.4 400.0 410.2 415.4 
Total Debt$907.1 $895.3 $915.6 $927.0 
Schedules of Concentration of Risk
The following table shows net sales attributable to distributors that accounted for 10.0% or more of the Company's total net sales:
Three Months EndedSix Months Ended
June 27,
2025
June 28,
2024
June 27,
2025
June 28,
2024
FFF Enterprises, Inc.34.2 %21.6 %30.9 %20.9 %
Cencora, Inc.18.6 16.8 19.8 16.0 
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:
June 27,
2025
December 27,
2024
Cencora, Inc.39.4 %34.9 %
McKesson Corporation16.6 19.8 
FFF Enterprises, Inc.13.9 12.1 
The following table shows net sales attributable to products that accounted for 10.0% or more of the Company's total net sales:
Three Months EndedSix Months Ended
June 27,
2025
June 28,
2024
June 27,
2025
June 28,
2024
Acthar Gel36.1 %22.9 %32.1 %22.5 %
INOmax12.8 12.9 13.7 13.9 
Therakos (Note 3)*13.1 *12.8 
APAP***10.1 
* Net sales attributable to this product were less than 10.0% of the Company's total net sales for the respective periods presented above.