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SEGMENT AND DISAGGREGATED REVENUE INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Revenue from our Materials Group reportable segment is attributed to geographic areas based on the location from which products are shipped. Revenue from our Solutions Group reportable segment is shown by product group.
(In millions) |  | 2022 |  | 2021 |  | 2020
Net sales to unaffiliated customers |  |  |  |  |  |
Materials Group(1): |  |  |  |  |  |
U.S. |  | $ | 1,892.1 |  |  | $ | 1,736.4 |  |  | $ | 1,504.5 |
Europe |  | 2,396.2 |  |  | 2,261.1 |  |  | 1,952.8 |
Asia |  | 1,390.3 |  |  | 1,471.1 |  |  | 1,245.3 |
Latin America |  | 470.1 |  |  | 408.6 |  |  | 350.9 |
Other international |  | 346.4 |  |  | 329.3 |  |  | 287.1 |
Total Materials Group |  | 6,495.1 |  |  | 6,206.5 |  |  | 5,340.6 |
Solutions Group: |  |  |  |  |  |
Apparel |  | 1,851.2 |  |  | 1,839.1 |  |  | 1,432.3 |
Identification Solutions and Vestcom |  | 693.0 |  |  | 362.7 |  |  | 198.6 |
Total Solutions Group |  | 2,544.2 |  |  | 2,201.8 |  |  | 1,630.9 |
Net sales to unaffiliated customers |  | $ | 9,039.3 |  |  | $ | 8,408.3 |  |  | $ | 6,971.5 |
(1) | Previously reported segment results have been recast to reflect our new operating structure.
Additional financial information by reportable segment and Corporate is shown below.
(In millions) |  | 2022 |  | 2021 |  | 2020
Intersegment sales |  |  |  |  |  |
Materials Group(1) |  | $ | 137.1 |  |  | $ | 105.8 |  |  | $ | 81.9 |
Solutions Group |  | 37.4 |  |  | 37.3 |  |  | 27.5 |
Intersegment sales |  | $ | 174.5 |  |  | $ | 143.1 |  |  | $ | 109.4 |
Income before taxes |  |  |  |  |  |
Materials Group(1) |  | $ | 859.3 |  |  | $ | 883.3 |  |  | $ | 747.0 |
Solutions Group |  | 302.3 |  |  | 257.2 |  |  | 144.7 |
Corporate expense |  | (87.6) |  |  | (81.8) |  |  | (82.5) |
Interest expense |  | (84.1) |  |  | (70.2) |  |  | (70.0) |
Other non-operating expense (income), net |  | 9.4 |  |  | 4.1 |  |  | (1.9) |
Income before taxes |  | $ | 999.3 |  |  | $ | 992.6 |  |  | $ | 737.3 |
Capital expenditures(2)(3) |  |  |  |  |  |
Materials Group(1) |  | $ | 153.5 |  |  | $ | 170.3 |  |  | $ | 104.6 |
Solutions Group |  | 144.0 |  |  | 96.3 |  |  | 101.6 |
Capital expenditures |  | $ | 297.5 |  |  | $ | 266.6 |  |  | $ | 206.2 |
Depreciation and amortization expense(2) |  |  |  |  |  |
Materials Group(1) |  | $ | 135.8 |  |  | $ | 141.9 |  |  | $ | 133.7 |
Solutions Group |  | 154.9 |  |  | 102.2 |  |  | 71.6 |
Depreciation and amortization expense |  | $ | 290.7 |  |  | $ | 244.1 |  |  | $ | 205.3 |
Other expense (income), net by reportable segment |  |  |  |  |  |
Materials Group(1) |  | $ | (13.4) |  |  | $ | (25.7) |  |  | $ | 30.6 |
Solutions Group |  | 7.8 |  |  | 36.6 |  |  | 22.7 |
Corporate |  | 5.0 |  |  | (5.3) |  |  | .3 |
Other expense (income), net |  | $ | (.6) |  |  | $ | 5.6 |  |  | $ | 53.6 |
(1) | Previously reported segment results have been recast to reflect our new operating structure.
(2) | Corporate capital expenditures and depreciation and amortization expense are allocated to the reportable segments based on their percentage of consolidated net sales.
(3) | Capital expenditures for property, plant and equipment included accruals.
Other expense (income), net by type were as follows:
(In millions) |  | 2022 |  | 2021 |  | 2020
Other expense (income), net by type |  |  |  |  |  |
Restructuring charges: |  |  |  |  |  |
Severance and related costs |  | $ | 7.6 |  |  | $ | 10.5 |  |  | $ | 49.1 |
Asset impairment charges and lease cancellation costs |  | .1 |  |  | 3.1 |  |  | 6.2 |
Other items: |  |  |  |  |  |
Transaction and related costs |  | .3 |  |  | 20.9 |  |  | 4.2 |
Outcomes of legal proceedings, net(1) |  | 6.3 |  |  | (.4) |  |  | — |
Gain on venture investments, net |  | (13.5) |  |  | (23.0) |  |  | (5.4) |
(Gain) loss on sales of assets, net |  | (1.4) |  |  | .2 |  |  | (.5) |
Gain on sale of product line |  | — |  |  | (5.7) |  |  | — |
Other expense (income), net |  | $ | (.6) |  |  | $ | 5.6 |  |  | $ | 53.6 |
(1) | Amount for 2021 included an indirect tax credit based on a Brazilian Federal Supreme Court ruling in the amount of $29.1 million, partially offset by a contingent liability related to a patent infringement lawsuit in the amount of $26.6 million. Refer to Note 8, “Contingencies” for more information regarding the patent infringement lawsuit.
Schedule of Revenue from External Customers by Products | Revenue from our Materials Group reportable segment by product group is shown below.
(In millions) |  | 2022 |  | 2021 |  | 2020
Net sales to unaffiliated customers |  |  |  |  |  |
Materials Group: |  |  |  |  |  |
Labels, graphics and reflectives |  | $ | 5,725.7 |  |  | $ | 5,430.4 |  |  | $ | 4,715.1 |
Tapes and adhesives |  | 696.3 |  |  | 703.4 |  |  | 565.9 |
Other |  | 73.1 |  |  | 72.7 |  |  | 59.6 |
Total Materials Group |  | $ | 6,495.1 |  |  | $ | 6,206.5 |  |  | $ | 5,340.6 |
Disaggregation of Revenue | Our total company revenue by geographic area is shown below. Revenue is attributed to geographic areas based on the location from which products are shipped.
(In millions) |  | 2022 |  | 2021 |  | 2020
Net sales to unaffiliated customers |  |  |  |  |  |
U.S. |  | $ | 2,565.9 |  |  | $ | 2,065.2 |  |  | $ | 1,683.6 |
Europe |  | 2,683.6 |  |  | 2,541.4 |  |  | 2,164.7 |
Asia |  | 2,817.2 |  |  | 2,914.5 |  |  | 2,378.5 |
Latin America |  | 605.7 |  |  | 537.6 |  |  | 440.3 |
Other international |  | 366.9 |  |  | 349.6 |  |  | 304.4 |
Net sales to unaffiliated customers |  | $ | 9,039.3 |  |  | $ | 8,408.3 |  |  | $ | 6,971.5 |
Schedule of Property, Plant and Equipment, Net by Geographical Area | Property, plant and equipment, net, in our U.S. and international operations were as follows:
(In millions) |  | 2022 |  | 2021 |  | 2020
Property, plant and equipment, net |  |  |  |  |  |
U.S. |  | $ | 589.0 |  |  | $ | 524.0 |  |  | $ | 403.1 |
International |  | 951.2 |  |  | 953.7 |  |  | 940.6 |
Property, plant and equipment, net |  | $ | 1,540.2 |  |  | $ | 1,477.7 |  |  | $ | 1,343.7 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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