Selected information by reportable segment was as follows: | | | | | | | | | | | | | | | | | | | Three Months Ended June 27, 2025 | | Specialty Brands | | Specialty Generics | | Total | | Net sales | $ | 264.3 | | | $ | 220.8 | | | $ | 485.1 | | | Cost of sales | 109.4 | | | 139.4 | | | 248.8 | | | Selling, general and administrative expenses | 59.4 | | | 31.3 | | | 90.7 | | | Research and development expenses | 8.3 | | | 5.6 | | | 13.9 | | | Restructuring charges, net | (0.2) | | | — | | | (0.2) | | | Segment operating income | $ | 87.4 | | | $ | 44.5 | | | 131.9 | | | Corporate and unallocated expenses: | | | | | | Cost of sales (1) | | | | | 4.5 | | Selling, general and administrative expenses (1) | | | | | 59.9 | | Combination, integration, and other related expenses (2) | | | | | 22.6 | | Research and development expenses (1) | | | | | 9.7 | | Liabilities management and separation costs (3) | | | | | 2.2 | | | Operating income | | | | | 33.0 | | | Interest expense | | | | | (32.6) | | | Interest income | | | | | 5.9 | | | Loss on divestiture | | | | | (0.5) | | | Other income, net | | | | | 7.2 | | | Income from continuing operations before income taxes | | | | | $ | 13.0 | | | | | | | | | Depreciation and amortization | $ | 12.2 | | | $ | 9.8 | | | |
| | | | | | | | | | | | | | | | | | | Three Months Ended June 28, 2024 | | Specialty Brands | | Specialty Generics | | Total | | Net sales | $ | 274.5 | | | $ | 239.8 | | | $ | 514.3 | | | Cost of sales | 151.9 | | | 162.1 | | | 314.0 | | | Selling, general and administrative expenses | 66.3 | | | 19.6 | | | 85.9 | | | Research and development expenses | 12.1 | | | 6.3 | | | 18.4 | | | Restructuring charges, net | 0.2 | | | — | | | 0.2 | | | Segment operating income | $ | 44.0 | | | $ | 51.8 | | | 95.8 | | | Corporate and unallocated expenses: | | | | | | Cost of sales (1) | | | | | 5.3 | | Selling, general and administrative expenses (1) | | | | | 42.0 | | Research and development expenses (1) | | | | | 10.8 | | Liabilities management and separation costs (3) | | | | | 10.3 | | | Operating income | | | | | 27.4 | | | Interest expense | | | | | (59.4) | | | Interest income | | | | | 6.0 | | | Other expense, net | | | | | (3.5) | | | Loss from continuing operations before income taxes | | | | | $ | (29.5) | | | | | | | | | Depreciation and amortization | $ | 21.5 | | | $ | 10.5 | | | |
| | | | | | | | | | | | | | | | | | | Six Months Ended June 27, 2025 | | Specialty Brands | | Specialty Generics | | Total | | Net sales | $ | 471.6 | | | $ | 433.4 | | | $ | 905.0 | | | Cost of sales | 201.8 | | | 260.9 | | | 462.7 | | | Selling, general and administrative expenses | 118.4 | | | 58.2 | | | 176.6 | | | Research and development expenses | 15.6 | | | 10.8 | | | 26.4 | | | Restructuring charges, net | (2.2) | | | — | | | (2.2) | | | Segment operating income | $ | 138.0 | | | $ | 103.5 | | | 241.5 | | | Corporate and unallocated expenses: | | | | | | Cost of sales (1) | | | | | 7.6 | | Selling, general and administrative expenses (1) | | | | | 121.5 | | Combination, integration, and other related expenses (2) | | | | | 43.1 | | Research and development expenses (1) | | | | | 17.7 | | Liabilities management and separation costs (3) | | | | | 3.6 | | | Operating income | | | | | 48.0 | | Interest expense | | | | | (65.4) | | Interest income | | | | | 11.7 | | | Loss on divestiture | | | | | (6.7) | | | Other income, net | | | | | 1.4 | | | Loss from continuing operations before income taxes | | | | | $ | (11.0) | | | | | | | | | Depreciation and amortization | $ | 24.3 | | | $ | 19.6 | | | |
| | | | | | | | | | | | | | | | | | | Six Months Ended June 28, 2024 | | Specialty Brands | | Specialty Generics | | Total | | Net sales | $ | 531.8 | | | $ | 450.3 | | | $ | 982.1 | | | Cost of sales | 294.4 | | | 321.4 | | | 615.8 | | | Selling, general and administrative expenses | 125.4 | | | 39.0 | | | 164.4 | | | Research and development expenses | 25.5 | | | 12.2 | | | 37.7 | | | Restructuring charges, net | 10.4 | | | — | | | 10.4 | | | Segment operating income | $ | 76.1 | | | $ | 77.7 | | | 153.8 | | | Corporate and unallocated expenses: | | | | | | Cost of sales (1) | | | | | 7.3 | | Selling, general and administrative expenses (1) | | | | | 100.4 | | Research and development expenses (1) | | | | | 19.4 | | Liabilities management and separation costs (3) | | | | | 17.0 | | | Operating income | | | | | 9.7 | | Interest expense | | | | | (118.5) | | Interest income | | | | | 12.8 | | | Other income, net | | | | | 0.2 | | | Loss from continuing operations before income taxes | | | | | $ | (95.8) | | | | | | | | | Depreciation and amortization | $ | 43.9 | | | $ | 22.7 | | | |
(1)Includes certain compensation, information technology, legal, environmental and other costs not charged to the Company’s reportable segments. (2)Represents legal, financial, and other advisory and consulting expenses, which primarily relate to shareholder matters, integration planning, and regulatory costs associated with the Business Combination. Refer to Note 3 for further information on the Business Combination. (3)Represents costs primarily related to the Separation during the three and six months ended June 27, 2025 and professional fees incurred as the Company explored potential sales of non-core assets to enable further deleveraging post-emergence from the 2023 Bankruptcy Proceedings during the three and six months ended June 28, 2024.
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