v3.25.2
Fresh Start Accounting - Schedule Of Changes To Retained Earnings Reflect The Net Cumulative Impact (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 24, 2025
Dec. 28, 2024
Dec. 30, 2023
Reorganization, Chapter 11 [Line Items]        
Other intangible assets $ 527,566 $ 529,000 $ 115,762  
Long-term operating lease liabilities (2,601) (2,588) (44,322)  
Goodwill 199,053 199,053 239,583 $ 243,441
Accumulated other comprehensive loss 1,182 0 (25,832)  
Property and equipment 9,690 9,742 15,798  
Long-term debt, net 465,518 465,518 1,430,643  
Operating lease assets 3,505 3,491 $ 42,047  
Reorganization, Chapter 11, Plan Effect Adjustment [Member]        
Reorganization, Chapter 11 [Line Items]        
Other intangible assets   0    
Long-term operating lease liabilities (39,681) (39,681) [1]    
Goodwill   (0)    
Accumulated other comprehensive loss   0    
Property and equipment   0    
Long-term debt, net [2]   463,702    
Operating lease assets   0    
Reorganization, Chapter 11, Fresh-Start Adjustment [Member]        
Reorganization, Chapter 11 [Line Items]        
Other intangible assets 446,855 446,855 [3]    
Long-term operating lease liabilities (38,730) 38,730 [4]    
Goodwill (43,369) (43,369) [5]    
Accumulated other comprehensive loss (17,206) 15,126 [6]    
Property and equipment 6,176 6,176 [7]    
Other current and noncurrent assets (5,013)      
Portion of operating lease liabilities within one year (2,040)      
Long-term debt, net (1,816) 1,816 [8]    
Operating lease assets (1,626) $ (1,626) [9]    
Total fresh start adjustments impacting reorganization items, net 420,691      
Income tax effects on deferred income taxes (32,815)      
Income tax effects on accumulated other comprehensive loss 2,079      
Income tax effects on prepaid income taxes 2,417      
Changes in retained earnings $ 392,372      
[1] Changes in long-term operating lease liabilities were due to the reinstatement of the long-term portion of operating lease liabilities from liabilities subject to compromise.
[2] Changes in long-term debt, net included the following:

Issuance of New Term Loan Facility (see Note 8)

$

465,000

 

Capitalization of debt issuance costs

 

(1,298

)

Changes in long-term debt

$

463,702

 
[3] Changes to other intangible assets, net included the following:

Recognition of other intangible assets recorded at fair value (see Note 7)

$

529,000

 

Adjustment to write-off capitalized cost and related accumulated amortization of other intangible assets as part of fresh start accounting

 

(82,145

)

Changes in other intangible assets, net

$

446,855

 
[4] Changes to long-term operating lease liabilities included the following:

Adjustment to long-term operating lease liability associated with the Corporate Headquarters Lease (See Note 5)

$

(38,545

)

Other adjustment to record long-term operating lease liabilities at fair value

 

(185

)

Changes in long-term operating lease liabilities

$

(38,730

)
[5] The change in goodwill reflects the adjustment to record excess reorganization value not attributable to a specific assets class.
[6] Changes to accumulated other comprehensive income (loss) represent the reset of the Predecessor balance due to the adoption of fresh start accounting.
[7] The change in property and equipment, net primarily represents the fair value adjustment to the Company’s leasehold improvements, office furniture and equipment and computer hardware and software. The Company valued the property and equipment, net using the indirect cost method under the cost approach. The indirect cost method considers historical acquisition costs for the assets adjusted for inflation, as well as factors in any potential obsolescence based on the current condition of the assets.
[8] The change in long-term debt, net reflects the fair value adjustment to the Company’s long-term debt due to the New Term Loan Facility (see Note 8 “Long-term Debt”).
[9] The change in operating lease assets reflects the adjustment to the Company’s operating lease assets relating to the recognition of sublease interest, decrease in short term leases due to applying the short term lease exemption, and the impact of changes to the incremental borrowing rate (“IBR”).