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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 28, 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 |  | Six Months Ended
(in millions) | June 28, 2025 |  | June 29, 2024 |  | June 28, 2025 |  | June 29, 2024
Revenues | $ | 141.5 |  |  | $ | 152.4 |  |  | $ | 288.2 |  |  | $ | 305.6 |
Cost of sales | 87.2 |  |  | 104.8 |  |  | 186.3 |  |  | 223.0 |
Intangible assets impairment charges | — |  |  | — |  |  | 44.0 |  |  | — |
Gross profit | 54.3 |  |  | 47.6 |  |  | 57.9 |  |  | 82.6 |
Selling, general and administrative expenses | 35.2 |  |  | 51.4 |  |  | 75.2 |  |  | 95.5 |
Research and development expenses | 7.6 |  |  | 9.8 |  |  | 17.0 |  |  | 19.9 |
Intangible assets impairment charges | — |  |  | — |  |  | 251.0 |  |  | — |
Operating income (loss) | 11.5 |  |  | (13.6) |  |  | (285.3) |  |  | (32.8) |
Non-operating (loss) income | (2.3) |  |  | 2.6 |  |  | (6.5) |  |  | 5.2 |
Income (loss) from discontinued operations, before income taxes | 9.2 |  |  | (11.0) |  |  | (291.8) |  |  | (27.6) |
Provision (benefit) for income taxes | 2.8 |  |  | (2.2) |  |  | (80.3) |  |  | (5.6) |
Income (loss) from discontinued operations, net of income taxes | $ | 6.4 |  |  | $ | (8.8) |  |  | $ | (211.5) |  |  | $ | (22.0) |
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 June 28, 2025 and December 28, 2024 consist of the following:
(in millions) | June 28, 2025 |  | December 28, 2024
Cash and cash equivalents | $ | 43.5 |  |  | $ | 54.0 |
Trade receivable, net of credit allowances | 98.0 |  |  | 143.3 |
Inventories, net | 206.1 |  |  | 164.4 |
Other current assets | 46.2 |  |  | 41.7 |
Total current assets, held-for-sale | 393.8 |  |  | 403.4 |
Property and equipment, net | 47.4 |  |  | 44.6 |
Intangible assets, net | 240.6 |  |  | 496.6 |
Deferred tax assets | 23.0 |  |  | 25.2 |
Other non-current assets | 50.8 |  |  | 48.8 |
Total non-current assets, held-for-sale | 361.8 |  |  | 615.2 |
Total assets held-for-sale - discontinued operations | $ | 755.6 |  |  | $ | 1,018.6 |
Accounts payable | $ | 107.1 |  |  | $ | 123.8 |
Accrued compensation | 3.7 |  |  | 4.9 |
Deferred revenue and other contract liabilities, current | 13.2 |  |  | 18.6 |
Other current liabilities | 68.8 |  |  | 70.4 |
Total current liabilities, held-for-sale | 192.8 |  |  | 217.7 |
Long-term debt | 13.0 |  |  | 13.6 |
Deferred tax liabilities | 26.5 |  |  | 99.9 |
Other non-current liabilities | 53.0 |  |  | 57.2 |
Total non-current liabilities, held-for-sale | 92.5 |  |  | 170.7 |
Total liabilities held-for-sale - discontinued operations | $ | 285.3 |  |  | $ | 388.4 |

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