Summary of Significant Accounting Policies	6 Months Ended
Jul. 04, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Our significant accounting policies are detailed in Note 2. Summary of Significant Accounting Policies of the Audited Combined Financial Statements included in the Information Statement. There have been no significant changes to these policies that have had a material impact on the Unaudited Condensed Combined Financial Statements and the accompanying disclosure notes for the three and six months ended July 4, 2026. We consider the following policies in the preparation of our Unaudited Condensed Combined Financial Statements and the uncertainties that could impact our financial condition, results of operations and cash flows. Restricted Cash Restricted cash consists of cash that is held for a specific purpose and is therefore not available for immediate or general business use. Restricted cash is presented separately on the Unaudited Condensed Combined Balance Sheets, with amounts classified as current based on the nature of the restriction and the expected timing of release. As of July 4, 2026, restricted cash consisted solely of $400 million of proceeds from our offering of Senior Notes due 2034 that were placed in escrow pending the Spin-Off. The proceeds were released to us in connection with the completion of the Spin-Off and satisfaction of the escrow release conditions. Refer to Note 8. Long-Term Debt and Note 15. Subsequent Events, of the Notes to the Unaudited Condensed Combined Financial Statements for additional information. Accounting Pronouncements We consider the applicability and impact of all recent accounting standards updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses. This ASU requires entities to disaggregate operating expenses into specific categories, such as purchases of inventory, employee compensation, depreciation and amortization to provide enhanced transparency into the nature and function of expenses. The guidance is effective for annual reporting years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. We are currently assessing the impact of adoption on our disclosures.

Our significant accounting policies are detailed in Note 2. Summary of Significant Accounting Policies of the Audited Combined Financial Statements included in the Information Statement. There have been no significant changes to these policies that have had a material impact on the Unaudited Condensed Combined Financial Statements and the accompanying disclosure notes for the three and six months ended July 4, 2026. We consider the following policies in the preparation of our Unaudited Condensed Combined Financial Statements and the uncertainties that could impact our financial condition, results of operations and cash flows.

Restricted cash consists of cash that is held for a specific purpose and is therefore not available for immediate or general business use. Restricted cash is presented separately on the Unaudited Condensed Combined Balance Sheets, with amounts classified as current based on the nature of the restriction and the expected timing of release. As of July 4, 2026, restricted cash consisted solely of $400 million of proceeds from our offering of Senior Notes due 2034 that were placed in escrow pending the Spin-Off. The proceeds were released to us in connection with the completion of the Spin-Off and satisfaction of the escrow release conditions. Refer to Note 8. Long-Term Debt and Note 15. Subsequent Events, of the Notes to the Unaudited Condensed Combined Financial Statements for additional information.

We consider the applicability and impact of all recent accounting standards updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses. This ASU requires entities to disaggregate operating expenses into specific categories, such as purchases of inventory, employee compensation, depreciation and amortization to provide enhanced transparency into the nature and function of expenses. The guidance is effective for annual reporting years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. We are currently assessing the impact of adoption on our disclosures.