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Segment and Disaggregated Revenue Information (Tables) | 3 Months Ended
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Apr. 01, 2023
Segment Reporting [Abstract] |
Schedule of segment reporting information by segment | Disaggregated revenue information is shown below in the manner that best reflects how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. 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.
|  |  | Three Months Ended
(In millions) |  |  |  |  | April 1, 2023 |  | April 2, 2022
Net sales to unaffiliated customers |  |  |  |  |  |  |
Materials Group: |  |  |  |  |  |  |
U.S. |  |  |  |  | $ | 446.4 |  |  | $ | 488.8 |
Europe |  |  |  |  | 498.9 |  |  | 622.7 |
Asia |  |  |  |  | 315.6 |  |  | 361.2 |
Latin America |  |  |  |  | 113.7 |  |  | 109.8 |
Other international |  |  |  |  | 85.9 |  |  | 87.8 |
Total Materials Group |  |  |  |  | 1,460.5 |  |  | 1,670.3 |
Solutions Group: |  |  |  |  |  |  |
Apparel |  |  |  |  | 418.8 |  |  | 514.6 |
Identification Solutions and Vestcom |  |  |  |  | 185.7 |  |  | 164.4 |
Total Solutions Group |  |  |  |  | 604.5 |  |  | 679.0 |
Net sales to unaffiliated customers |  |  |  |  | $ | 2,065.0 |  |  | $ | 2,349.3 |
Additional financial information by reportable segment and Corporate is shown below.
|  |  | Three Months Ended
(In millions) |  |  |  |  | April 1, 2023 |  | April 2, 2022
Intersegment sales |  |  |  |  |  |  |
Materials Group |  |  |  |  | $ | 34.9 |  |  | $ | 32.5 |
Solutions Group |  |  |  |  | 10.0 |  |  | 11.0 |
Intersegment sales |  |  |  |  | $ | 44.9 |  |  | $ | 43.5 |
Income before taxes |  |  |  |  |  |  |
Materials Group |  |  |  |  | $ | 160.5 |  |  | $ | 222.8 |
Solutions Group |  |  |  |  | 51.5 |  |  | 90.3 |
Corporate expense |  |  |  |  | (21.9) |  |  | (25.2) |
Interest expense |  |  |  |  | (26.4) |  |  | (19.6) |
Other non-operating expense (income), net |  |  |  |  | 4.6 |  |  | 1.4 |
Income before taxes |  |  |  |  | $ | 168.3 |  |  | $ | 269.7 |
Other expense (income), net, by reportable segment and Corporate |  |  |  |  |  |  |
Materials Group |  |  |  |  | $ | 14.3 |  |  | $ | (3.2) |
Solutions Group |  |  |  |  | 3.6 |  |  | 1.6 |
Corporate |  |  |  |  | (.1) |  |  | — |
Other expense (income), net |  |  |  |  | $ | 17.8 |  |  | $ | (1.6) |
Other expense (income), net, by type were as follows:
|  |  | Three Months Ended
(In millions) |  |  |  |  | April 1, 2023 |  | April 2, 2022
Other expense (income), net, by type |  |  |  |  |  |  |
Restructuring charges: |  |  |  |  |  |  |
Severance and related costs |  |  |  |  | $ | 17.1 |  |  | $ | .9 |
Asset impairment charges |  |  |  |  | .5 |  |  | — |
Other items: |  |  |  |  |  |  |
Transaction and related costs |  |  |  |  | .2 |  |  | .2 |
Outcome of legal proceedings |  |  |  |  | — |  |  | 1.0 |
Gain on venture investment |  |  |  |  | — |  |  | (3.7) |
Other expense (income), net |  |  |  |  | $ | 17.8 |  |  | $ | (1.6) |

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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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