XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment and Disaggregated Revenue Information | 9 Months Ended
--- | ---
Sep. 30, 2023
Segment Reporting [Abstract] |
Segment and Disaggregated Revenue Information | Segment and Disaggregated Revenue Information Disaggregated Revenue Information 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 |  | Nine Months Ended
(In millions) | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Net sales to unaffiliated customers |  |  |  |  |  |  |
Materials Group: |  |  |  |  |  |  |
U.S. | $ | 425.4 |  |  | $ | 491.4 |  |  | $ | 1,302.5 |  |  | $ | 1,471.3 |
Europe | 494.6 |  |  | 635.7 |  |  | 1,503.8 |  |  | 1,903.6 |
Asia | 327.9 |  |  | 348.1 |  |  | 981.6 |  |  | 1,053.6 |
Latin America | 126.2 |  |  | 130.6 |  |  | 357.1 |  |  | 359.1 |
Other international | 81.9 |  |  | 88.2 |  |  | 247.5 |  |  | 266.2 |
Total Materials Group | 1,456.0 |  |  | 1,694.0 |  |  | 4,392.5 |  |  | 5,053.8 |
Solutions Group: |  |  |  |  |  |  |
Apparel | 408.7 |  |  | 446.1 |  |  | 1,226.4 |  |  | 1,447.4 |
Identification Solutions and Vestcom | 233.6 |  |  | 177.0 |  |  | 634.9 |  |  | 512.2 |
Total Solutions Group | 642.3 |  |  | 623.1 |  |  | 1,861.3 |  |  | 1,959.6 |
Net sales to unaffiliated customers | $ | 2,098.3 |  |  | $ | 2,317.1 |  |  | $ | 6,253.8 |  |  | $ | 7,013.4 |
Additional Segment Information Additional financial information by reportable segment and Corporate is shown below.
| Three Months Ended |  | Nine Months Ended
(In millions) | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Intersegment sales |  |  |  |  |  |  |
Materials Group | $ | 40.6 |  |  | $ | 39.8 |  |  | $ | 113.7 |  |  | $ | 104.1 |
Solutions Group | 5.2 |  |  | 10.1 |  |  | 25.2 |  |  | 29.2 |
Intersegment sales | $ | 45.8 |  |  | $ | 49.9 |  |  | $ | 138.9 |  |  | $ | 133.3 |
Income before taxes |  |  |  |  |  |  |
Materials Group | $ | 176.5 |  |  | $ | 235.9 |  |  | $ | 530.8 |  |  | $ | 705.4 |
Solutions Group | 50.7 |  |  | 75.8 |  |  | 95.0 |  |  | 250.7 |
Corporate expense | (20.3) |  |  | (19.4) |  |  | (63.3) |  |  | (68.5) |
Interest expense | (31.0) |  |  | (21.2) |  |  | (89.3) |  |  | (61.6) |
Other non-operating expense (income), net | 8.7 |  |  | 1.4 |  |  | 19.9 |  |  | 4.1 |
Income before taxes | $ | 184.6 |  |  | $ | 272.5 |  |  | $ | 493.1 |  |  | $ | 830.1 |
Other expense (income), net, by reportable segment and Corporate |  |  |  |  |  |  |
Materials Group | $ | 31.8 |  |  | $ | (7.3) |  |  | $ | 52.2 |  |  | $ | (9.9) |
Solutions Group | 10.7 |  |  | 3.4 |  |  | 76.5 |  |  | 6.3 |
Corporate | 3.8 |  |  | — |  |  | 3.7 |  |  | 1.5 |
Other expense (income), net | $ | 46.3 |  |  | $ | (3.9) |  |  | $ | 132.4 |  |  | $ | (2.1) |
Other expense (income), net, by type were as follows:
| Three Months Ended |  | Nine Months Ended
(In millions) | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Other expense (income), net, by type |  |  |  |  |  |  |
Restructuring charges: |  |  |  |  |  |  |
Severance and related costs | $ | 38.7 |  |  | $ | 4.7 |  |  | $ | 64.6 |  |  | $ | 8.7 |
Asset impairment charges | 5.1 |  |  | .1 |  |  | 6.8 |  |  | .1 |
Other items: |  |  |  |  |  |  |
Outcomes of legal proceedings | 2.5 |  |  | — |  |  | 56.3 |  |  | 1.7 |
Transaction and related costs | — |  |  | — |  |  | 4.2 |  |  | .3 |
(Gain) loss on sales of assets | — |  |  | — |  |  | .5 |  |  | (.5) |
Gain on venture investment | — |  |  | (8.7) |  |  | — |  |  | (12.4) |
Other expense (income), net | $ | 46.3 |  |  | $ | (3.9) |  |  | $ | 132.4 |  |  | $ | (2.1) |

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

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration