Discontinued Operations (Tables)

6 Months Ended

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)