XML 33 R19.htm IDEA: XBRL DOCUMENT
v3.23.1

Supplemental Financial Information | 3 Months Ended
--- | ---
Apr. 01, 2023
Supplemental Financial Information |
Supplemental Financial Information | Note 13. Supplemental Financial Information Inventories The table below summarizes amounts in inventories.
(In millions) | April 1, 2023 |  | December 31, 2022
Raw materials | $ | 482.5 |  |  | $ | 457.6 |
Work-in-progress | 244.1 |  |  | 255.1 |
Finished goods | 324.0 |  |  | 297.2 |
Inventories | $ | 1,050.6 |  |  | $ | 1,009.9 |
Property, Plant and Equipment, Net The table below summarizes the amounts in property, plant and equipment, net.
(In millions) | April 1, 2023 |  | December 31, 2022
Property, plant and equipment | $ | 3,821.9 |  |  | $ | 3,747.7 |
Accumulated depreciation | (2,256.3) |  |  | (2,207.5) |
Property, plant and equipment, net | $ | 1,565.6 |  |  | $ | 1,540.2 |
Allowance for Credit Losses The activity related to our allowance for credit losses is shown below.
| Three Months Ended
(In millions) | April 1, 2023 |  | April 2, 2022
Beginning balance | $ | 34.4 |  |  | $ | 33.0 |
Provision for credit losses | .1 |  |  | 6.6 |
Amounts written off | (1.3) |  |  | (.4) |
Other, including foreign currency translation | .7 |  |  | .3 |
Ending balance | $ | 33.9 |  |  | $ | 39.5 |
Supplier Finance Programs We have agreements with third-party financial institutions to facilitate payments to suppliers. These third-party financial institutions offer voluntary supply chain finance programs that enable certain of our suppliers, at the supplier’s sole discretion, to sell our payment obligations to a financial institution on terms directly negotiated with the financial institution. Participating suppliers decide which payment obligations are sold to the financial institution and we have no economic interest in a supplier’s decision to sell these payment obligations. We make payments to the financial institution on the invoice due date, regardless of whether an individual invoice is sold by the supplier to the financial institution. Our obligations to our suppliers, including amounts due and scheduled payment dates, are not impacted by suppliers' decisions to sell amounts under these arrangements. Amounts due under our supply chain finance programs are included in accounts payable on our unaudited Condensed Consolidated Balance Sheets and activities related to these programs are presented as operating activities in our unaudited Condensed Consolidated Statements of Cash Flows. As of April 1, 2023 and December 31, 2022, the total amounts due to financial institutions for suppliers that participate in these programs were $348.2 million and $430.1 million, respectively.

X
- References No definition available. + Details
Name: | avy_SupplementalFinancialInformationAbstract
Namespace Prefix: | avy_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI https://asc.fasb.org/topic&trid=2122208 + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration