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Supplemental Financial Statement Information | 12 Months Ended
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Dec. 29, 2024
Additional Financial Information Disclosure [Abstract] |
Supplemental Financial Statement Information | Supplemental Financial Statement Information Cash and cash equivalents at December 29, 2024 and December 31, 2023 were as follows:
|  | Fiscal Year
(In millions) |  | 2024 |  | 2023
Cash |  | $ | 391.5 |  |  | $ | 329.8 |
Other short-term investments |  | 329.7 |  |  | 414.1 |
Total cash and cash equivalents |  | $ | 721.2 |  |  | $ | 743.9 |
Other current liabilities included salaries, wages and other employee-related liabilities of $113.6 million and $102.3 million at December 29, 2024 and December 31, 2023, respectively, and accrued interest of $23.9 million and $23.7 million at December 29, 2024 and December 31, 2023, respectively. Other income (expense) for the fiscal years ended December 29, 2024, December 31, 2023, and January 1, 2023 was as follows:
|  | Fiscal Year
(in millions) |  | 2024 |  | 2023 |  | 2022
Rent, royalty income and other income |  | $ | 3.8 |  |  | $ | 2.6 |  |  | $ | 2.3 |
Gains from disposal of property, plant and equipment, net |  | 11.6 |  |  | 0.3 |  |  | 0.2 |
Net equity income (loss) on joint ventures (See Note 7) |  | (1.0) |  |  | (1.6) |  |  | 12.6 |
Joint venture restructuring credit (See Note 7) |  | — |  |  | — |  |  | 0.9 |
Litigation settlement (See Note 21) |  | — |  |  | — |  |  | (28.5) |
Total other income (expense), net |  | $ | 14.4 |  |  | $ | 1.3 |  |  | $ | (12.5) |
Gains from disposal of property, plant and equipment, net for the fiscal year ended December 29, 2024 include an $11.6 million gain on the sale of certain oil and gas rights. These cash gains are reported as an investing activity on the consolidated statement of cash flow for the fiscal year ended December 29, 2024. Supplier Financing The Company participates in supplier financing programs with two financial institutions to offer its suppliers the option for access to payment in advance of an invoice due date. Under such programs, these financial institutions provide early payment to suppliers at their request for invoices that ATI has confirmed as valid at a pre-determined discount rate commensurate with the creditworthiness of ATI. As of December 29, 2024 and December 31, 2023, the Company had $34.8 million and $15.6 million, respectively, reported in accounts payable on the consolidated balance sheets under such programs. The following represents the rollforward of the Company’s obligations under such programs for the fiscal year ended December 29, 2024:
(in millions) | Fiscal Year
| 2024
Balance as of beginning of fiscal year | $ | 15.6 |
New obligations confirmed | 282.8 |
Obligations paid | (263.6) |
Balance as of period end | $ | 34.8 |
Sale of Receivables Program During the fourth quarter of 2024, the Company entered into an accounts receivables purchase agreement (Receivables Purchase Agreement) with a third-party financial institution to periodically sell certain accounts receivables at a discount. These accounts receivable sales are accounted for as a sale of assets under ASC 860, Transfers and Servicing, as the Company’s continuing involvement is limited to servicing the accounts receivable, collecting the payments for the underlying accounts receivables and remitting such collections to the financial institution. The financial institution is responsible for any credit risk associated with the sold accounts receivables. The Company receives the purchase price, equal to the accounts receivable less the discount, at the time of the sale. The Company sold $13.5 million of its receivables under this program during the fiscal year ended December 29, 2024, resulting in de-recognition of the receivables from the Company’s consolidated balance sheet. The Company had no amounts collected on behalf of the financial institution under the Receivables Purchase Agreement at December 29, 2024 and the loss on the sales of accounts receivables were not material to the Company. The cash received on these sales of accounts receivable during the fiscal year ended December 29, 2024 is presented in changes in receivables within operating activities in the consolidated statement of cash flows. Other Customer Receivable Sales In the fiscal years ended December 29, 2024, December 31, 2023 and January 1, 2023, the Company sold $300 million, $308 million and $133 million, respectively, of certain customers’ accounts receivables through programs established by those customers with third-party financial institutions. These customers have extended payment terms and provide the programs to enable suppliers to receive more timely payments. The Company has no continuing involvement with the receivables sold under these programs, including no servicing requirement. The proceeds from these transactions are presented in changes in receivables within operating activities in the consolidated statement of cash flows. The costs associated with these transactions of $6.0 million, $6.3 million and $1.5 million are reflected in the Company’s consolidated statement of operations for the fiscal years ended December 29, 2024, December 31, 2023 and January 1, 2023, respectively.

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