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SUPPLEMENTAL BALANCE SHEET INFORMATION | 6 Months Ended
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Jul. 02, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Balance Sheet Information | SUPPLEMENTAL BALANCE SHEET INFORMATION The components of certain asset accounts included within our Consolidated Balance Sheets are as follows:
|  | July 2, 2023 |  | December 31, 2022 |
Inventories: |  |  |  |  |
Raw materials |  | $ | 461,428 |  |  | $ | 372,612 |  |
Goods in process |  | 187,536 |  |  | 137,298 |  |
Finished goods |  | 1,012,112 |  |  | 855,217 |  |
Inventories at First In First Out |  | 1,661,076 |  |  | 1,365,127 |  |
Adjustment to Last In First Out |  | (275,652) |  |  | (192,008) |  |
Total inventories |  | $ | 1,385,424 |  |  | $ | 1,173,119 |  |
Prepaid expenses and other: |  |  |  |  |
Prepaid expenses |  | $ | 169,948 |  |  | $ | 143,888 |  |
Other current assets |  | 115,103 |  |  | 128,307 |  |
Total prepaid expenses and other |  | $ | 285,051 |  |  | $ | 272,195 |  |
Property, plant and equipment: |  |  |  |  |
Land |  | $ | 160,089 |  |  | $ | 155,963 |  |
Buildings |  | 1,565,474 |  |  | 1,545,053 |  |
Machinery and equipment |  | 3,767,778 |  |  | 3,592,251 |  |
Construction in progress |  | 538,265 |  |  | 416,220 |  |
Property, plant and equipment, gross |  | 6,031,606 |  |  | 5,709,487 |  |
Accumulated depreciation |  | (3,016,730) |  |  | (2,939,785) |  |
Property, plant and equipment, net |  | $ | 3,014,876 |  |  | $ | 2,769,702 |  |
Other non-current assets: |  |  |  |  |
Pension |  | $ | 54,737 |  |  | $ | 53,495 |  |
Capitalized software, net |  | 338,499 |  | 320,034 |  |
Operating lease ROU assets |  | 322,697 |  |  | 326,472 |  |
Investments in unconsolidated affiliates |  | 126,114 |  |  | 133,029 |  |
Other non-current assets |  | 119,694 |  |  | 111,959 |  |
Total other non-current assets |  | $ | 961,741 |  |  | $ | 944,989 |  |
The components of certain liability and stockholders’ equity accounts included within our Consolidated Balance Sheets are as follows: |
|  | July 2, 2023 |  | December 31, 2022 |
Accounts payable: |  |  |  |  |
Accounts payable—trade |  | $ | 663,853 |  |  | $ | 636,472 |  |
Supplier finance program obligations |  | 147,125 |  |  | 105,293 |  |
Other |  | 203,080 |  |  | 228,793 |  |
Total accounts payable |  | $ | 1,014,058 |  |  | $ | 970,558 |  |
Accrued liabilities: |  |  |  |  |
Payroll, compensation and benefits |  | $ | 203,337 |  |  | $ | 293,865 |  |
Advertising, promotion and product allowances |  | 346,580 |  |  | 337,024 |  |
Operating lease liabilities |  | 33,867 |  |  | 31,787 |  |
Other |  | 244,423 |  |  | 169,842 |  |
Total accrued liabilities |  | $ | 828,207 |  |  | $ | 832,518 |  |
Other long-term liabilities: |  |  |  |  |
Post-retirement benefits liabilities |  | $ | 140,327 |  |  | $ | 147,174 |  |
Pension benefits liabilities |  | 27,283 |  |  | 27,696 |  |
Operating lease liabilities |  | 290,655 |  |  | 294,849 |  |
Other |  | 256,267 |  |  | 250,023 |  |
Total other long-term liabilities |  | $ | 714,532 |  |  | $ | 719,742 |  |
Accumulated other comprehensive loss: |  |  |  |  |
Foreign currency translation adjustments |  | $ | (89,029) |  |  | $ | (110,364) |  |
Pension and post-retirement benefit plans, net of tax |  | (109,233) |  |  | (118,254) |  |
Cash flow hedges, net of tax |  | (22,779) |  |  | (23,715) |  |
Total accumulated other comprehensive loss |  | $ | (221,041) |  |  | $ | (252,333) |  |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
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