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Discontinued Operations (Tables) | 6 Months Ended
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Jul. 02, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations - Financial Statement Information | The following table summarizes the results of the TSA and supply agreements:
|  | Three Months Ended |  | Six Months Ended
| Financial Statement Location | July 2, 2022 |  | July 2, 2022
TSA income recognized | Administration expense | $ | 3.4 |  |  | $ | 6.8 |
TSA income collected | Administration expense | $ | 2.3 |  |  | $ | 5.7 |
Product & Royalty sales recognized | Net sales | $ | 38.0 |  |  | $ | 70.8 |
Product & Royalty sales collected | Net sales | $ | 37.9 |  |  | $ | 68.6 |
Purchases | Inventory | $ | 6.4 |  |  | $ | 15.1 |
Inventory payments | Inventory | $ | 3.7 |  |  | $ | 18.0 |
Prior year income from discontinued operations, net of tax was as follows (in millions):
|  |  | Three Months Ended |  |  |  | Six Months Ended
|  |  | July 3, 2021 |  |  |  | July 3, 2021 |  |
Net sales |  |  | $ | 204.5 |  |  |  |  | $ | 404.5 |  |  |
Cost of sales |  |  | 119.9 |  |  |  |  | 258.2 |  |  |
Gross profit |  |  | 84.6 |  |  |  |  | 146.3 |  |  |
Operating expenses |  |  |  |  |  |  |  |  |
Distribution |  |  | 2.8 |  |  |  |  | 6.1 |  |  |
Research and development |  |  | 17.3 |  |  |  |  | 30.6 |  |  |
Selling |  |  | 8.8 |  |  |  |  | 16.2 |  |  |
Administration |  |  | 12.4 |  |  |  |  | 30.6 |  |  |
Other operating expense (income) |  |  | 0.5 |  |  |  |  | (0.4) |  |  |
Total operating expenses |  |  | 41.8 |  |  |  |  | 83.1 |  |  |
Operating income |  |  | 42.8 |  |  |  |  | 63.2 |  |  |
Interest expense, net |  |  | 0.2 |  |  |  |  | 0.8 |  |  |
Other (income) expense, net |  |  | (0.2) |  |  |  |  | (1.7) |  |  |
Income from discontinued operations before tax |  |  | 42.8 |  |  |  |  | 64.1 |  |  |
Income tax benefit |  |  | (11.4) |  |  |  |  | (25.4) |  |  |
Income from discontinued operations, net of tax |  |  | $ | 54.2 |  |  |  |  | $ | 89.5 |  |  |
Select cash flow information related to discontinued operations was as follows (in millions):
|  |  |  |  | Six Months Ended
|  |  |  |  | July 3, 2021
Cash flows from discontinued operations operating activities: |  |  |  |  |
Depreciation and amortization |  |  |  |  | $ | 15.3 |
Cash flows from discontinued operations investing activities: |  |  |  |  |
Asset acquisitions |  |  |  |  | $ | (69.7) |
Additions to property, plant and equipment |  |  |  |  | (6.1) |

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