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Discontinued Operations (Tables) | 3 Months Ended
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Mar. 29, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disposal Groups, Including Discontinued Operations | The key components of income from the non-healthcare business discontinued operations were as follows:
| Three Months Ended
(in millions) | March 29, 2025 |  | March 30, 2024
Revenues | $ | 146.7 |  |  | $ | 153.2 |
Cost of sales | 99.1 |  |  | 118.1 |
Intangible assets impairment charges | 44.0 |  |  | — |
Gross profit | 3.6 |  |  | 35.1 |
Selling, general and administrative expenses | 40.1 |  |  | 44.1 |
Research and development expenses | 9.3 |  |  | 10.1 |
Intangible assets impairment charges | 251.0 |  |  | — |
Operating loss | (296.8) |  |  | (19.1) |
Non-operating (loss) income | (4.2) |  |  | 2.6 |
Loss from discontinued operations, before income taxes | (301.0) |  |  | (16.5) |
Benefit for income taxes | (83.1) |  |  | (3.4) |
Loss from discontinued operations, net of income taxes | $ | (217.9) |  |  | $ | (13.2) |
Assets and liabilities of the discontinued operations of the non-healthcare business classified as held-for-sale in the condensed consolidated balance sheets as of March 29, 2025 and December 28, 2024 consist of the following:
(in millions) | March 29, 2025 |  | December 28, 2024
Cash and cash equivalents | $ | 41.2 |  |  | $ | 54.0 |
Trade receivable, net of credit allowances | 103.9 |  |  | 143.3 |
Inventories, net | 166.3 |  |  | 164.4 |
Other current assets | 43.0 |  |  | 41.7 |
Total current assets, held-for-sale | 354.4 |  |  | 403.4 |
Property and equipment, net | 45.3 |  |  | 44.6 |
Intangible assets, net | 217.1 |  |  | 496.6 |
Deferred tax assets | 23.0 |  |  | 25.2 |
Other non-current assets | 48.9 |  |  | 48.8 |
Total non-current assets, held-for-sale | 334.3 |  |  | 615.2 |
Total assets held-for-sale - discontinued operations | $ | 688.7 |  |  | $ | 1,018.6 |
Accounts payable | $ | 91.1 |  |  | $ | 123.8 |
Accrued compensation | 3.1 |  |  | 4.9 |
Deferred revenue and other contract liabilities, current | 11.7 |  |  | 18.6 |
Other current liabilities | 62.9 |  |  | 70.4 |
Total current liabilities, held-for-sale | 168.8 |  |  | 217.7 |
Long-term debt | 13.5 |  |  | 13.6 |
Deferred tax liabilities | 23.1 |  |  | 99.9 |
Other non-current liabilities | 54.1 |  |  | 57.2 |
Total non-current liabilities, held-for-sale | 90.7 |  |  | 170.7 |
Total liabilities held-for-sale - discontinued operations | $ | 259.5 |  |  | $ | 388.4 |

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