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Acquisitions and Divestitures (Tables) | 6 Months Ended
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Jul. 02, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the consideration paid for HRA Pharma and the provisional amounts of the assets acquired and liabilities assumed (in millions):
| HRA Pharma
Purchase Price | $ | 1,945.6 |
Assets Acquired |
Cash and cash equivalents | $ | 44.1 |
Accounts receivable | 78.1 |
Inventories | 38.5 |
Prepaid expenses and other current assets | 16.8 |
Property, plant and equipment | 4.6 |
Operating lease assets | 9.7 |
Goodwill | 616.2 |
Definite-lived intangible assets |
Trademarks and trade names | 1,072.3 |
Developed product technology | 170.2 |
Distribution networks | 82.3 |
Indefinite lived intangibles |
In-process research and development | 63.3 |
Total intangible assets | 1,388.1 |
Deferred income taxes | 11.2 |
Other non-current assets | 0.8 |
Total assets | 2,208.1 |
Liabilities assumed |
Accounts payable | 44.5 |
Payroll and related taxes | 16.1 |
Accrued customer programs | 9.0 |
Other accrued liabilities | 13.9 |
Deferred income taxes | 168.8 |
Other non-current liabilities | 10.1 |
Total liabilities | 262.4 |
Non-Controlling Interest | 0.1 |
Net Assets Acquired | $ | 1,945.6 |
Pro Forma Impact of Business Combinations | The following table presents unaudited pro forma information as if the HRA Pharma acquisition had occurred on January 1, 2021 and had been combined with the results reported in our Consolidated Statements of Operations for all periods presented (in millions):
| Three Months Ended |  | Six Months Ended
(Unaudited) | July 2, 2022 |  | July 3, 2021 |  | July 2, 2022 |  | July 3, 2021
Net sales | $ | 1,151.3 |  |  | $ | 1,069.2 |  |  | $ | 2,304.7 |  |  | $ | 2,146.2 |
Income (loss) from continuing operations(1) | $ | (39.5) |  |  | $ | (123.6) |  |  | $ | (42.6) |  |  | $ | (213.8) |
(1) Includes $66.3 million of nonrecurring acquisition-related charges for the six months ended July 3, 2021.

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