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SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables) | 9 Months Ended
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Sep. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Supplemental Balance Sheet Information | Supplemental balance sheet information related to leases were as follows:
Leases |  | Classification |  | September 29, 2024 |  | December 31, 2023
Assets |  |  |  |  |  |
Operating lease ROU assets |  | Other non-current assets |  | $ | 347,576 |  |  | $ | 307,976 |
Finance lease ROU assets, at cost |  | Property, plant and equipment, gross |  | 87,182 |  |  | 89,335 |
Accumulated amortization |  | Accumulated depreciation |  | (24,027) |  |  | (19,472) |
Finance lease ROU assets, net |  | Property, plant and equipment, net |  | 63,155 |  |  | 69,863 |
Total leased assets |  |  |  | $ | 410,731 |  |  | $ | 377,839 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Accrued liabilities |  | $ | 39,523 |  |  | $ | 34,494 |
Finance |  | Current portion of long-term debt |  | 5,576 |  |  | 5,900 |
Non-current |  |  |  |  |  |
Operating |  | Other long-term liabilities |  | 314,400 |  |  | 277,089 |
Finance |  | Long-term debt |  | 67,814 |  |  | 70,485 |
Total lease liabilities |  |  |  | $ | 427,313 |  |  | $ | 387,968 |
The components of certain asset accounts included within our Consolidated Balance Sheets are as follows:
|  | September 29, 2024 |  | December 31, 2023 |
Inventories: |  |  |  |  |
Raw materials |  | $ | 500,387 |  |  | $ | 481,111 |  |
Goods in process |  | 221,807 |  |  | 192,232 |  |
Finished goods |  | 1,014,737 |  |  | 948,974 |  |
Inventories at First In First Out |  | 1,736,931 |  |  | 1,622,317 |  |
Adjustment to Last In First Out |  | (434,975) |  |  | (281,321) |  |
Total inventories |  | $ | 1,301,956 |  |  | $ | 1,340,996 |  |
Prepaid expenses and other: |  |  |  |  |
Prepaid expenses |  | $ | 114,971 |  |  | $ | 227,567 |  |
Other current assets |  | 377,412 |  |  | 118,021 |  |
Total prepaid expenses and other |  | $ | 492,383 |  |  | $ | 345,588 |  |
Property, plant and equipment: |  |  |  |  |
Land |  | $ | 182,678 |  |  | $ | 180,751 |  |
Buildings |  | 1,950,979 |  |  | 1,763,070 |  |
Machinery and equipment |  | 3,989,788 |  |  | 3,861,006 |  |
Construction in progress |  | 567,111 |  |  | 644,244 |  |
Property, plant and equipment, gross |  | 6,690,556 |  |  | 6,449,071 |  |
Accumulated depreciation |  | (3,301,522) |  |  | (3,139,393) |  |
Property, plant and equipment, net |  | $ | 3,389,034 |  |  | $ | 3,309,678 |  |
Other non-current assets: |  |  |  |  |
Pension |  | $ | 50,711 |  |  | $ | 48,506 |  |
Capitalized software, net |  | 369,079 |  | 360,205 |  |
Operating lease ROU assets |  | 347,576 |  |  | 307,976 |  |
Investments in unconsolidated affiliates |  | 207,855 |  |  | 207,177 |  |
Other non-current assets |  | 153,808 |  |  | 137,563 |  |
Total other non-current assets |  | $ | 1,129,029 |  |  | $ | 1,061,427 |  |
The components of certain liability and stockholders’ equity accounts included within our Consolidated Balance Sheets are as follows: |
|  | September 29, 2024 |  | December 31, 2023 |
Accounts payable: |  |  |  |  |
Accounts payable—trade |  | $ | 774,135 |  |  | $ | 630,536 |  |
Supplier finance program obligations |  | 219,352 |  |  | 149,261 |  |
Other |  | 221,077 |  |  | 306,386 |  |
Total accounts payable |  | $ | 1,214,564 |  |  | $ | 1,086,183 |  |
Accrued liabilities: |  |  |  |  |
Payroll, compensation and benefits |  | $ | 213,317 |  |  | $ | 261,961 |  |
Advertising, promotion and product allowances |  | 332,331 |  |  | 343,444 |  |
Operating lease liabilities |  | 39,523 |  |  | 34,494 |  |
Other |  | 222,221 |  |  | 227,916 |  |
Total accrued liabilities |  | $ | 807,392 |  |  | $ | 867,815 |  |
Other long-term liabilities: |  |  |  |  |
Post-retirement benefits liabilities |  | $ | 89,307 |  |  | $ | 90,718 |  |
Pension benefits liabilities |  | 27,066 |  |  | 28,949 |  |
Operating lease liabilities |  | 314,400 |  |  | 277,089 |  |
Other |  | 278,586 |  |  | 263,917 |  |
Total other long-term liabilities |  | $ | 709,359 |  |  | $ | 660,673 |  |
Accumulated other comprehensive loss: |  |  |  |  |
Foreign currency translation adjustments |  | $ | (123,779) |  |  | $ | (87,706) |  |
Pension and post-retirement benefit plans, net of tax |  | (120,769) |  |  | (126,800) |  |
Cash flow hedges, net of tax |  | (7,572) |  |  | (15,572) |  |
Total accumulated other comprehensive loss |  | $ | (252,120) |  |  | $ | (230,078) |  |

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