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SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 30, 2023
Supplemental Financial Information |
Schedule of Inventories | Inventories at year-end were as follows:
(In millions) |  | 2023 |  | 2022
Raw materials |  | $ | 415.4 |  |  | $ | 457.6 |
Work-in-progress |  | 238.2 |  |  | 255.1 |
Finished goods |  | 267.1 |  |  | 297.2 |
Inventories |  | $ | 920.7 |  |  | $ | 1,009.9 |
Schedule of Property, Plant and Equipment | Major classes of property, plant and equipment, stated at cost, at year-end were as follows:
(In millions) |  | 2023 |  | 2022
Land |  | $ | 35.9 |  |  | $ | 29.3 |
Buildings and improvements |  | 817.9 |  |  | 781.0 |
Machinery and equipment |  | 2,799.5 |  |  | 2,667.8 |
Construction-in-progress |  | 317.1 |  |  | 269.6 |
Property, plant and equipment |  | 3,970.4 |  |  | 3,747.7 |
Accumulated depreciation |  | (2,344.6) |  |  | (2,207.5) |
Property, plant and equipment, net |  | $ | 1,625.8 |  |  | $ | 1,540.2 |
Schedule of Capitalized Software Costs | Capitalized software costs at year-end were as follows:
(In millions) |  | 2023 |  | 2022
Cost |  | $ | 362.4 |  |  | $ | 390.6 |
Accumulated amortization |  | (257.9) |  |  | (282.3) |
Software, net |  | $ | 104.5 |  |  | $ | 108.3 |
Schedule of Allowance for Credit Losses | The activity related to our allowance for credit losses was as follows:
(In millions) |  | 2023 |  | 2022
Balance at beginning of year |  | $ | 34.4 |  |  | $ | 33.0 |
Provision for credit losses |  | 4.4 |  |  | 6.9 |
Amounts written off |  | (6.3) |  |  | (4.3) |
Other, including foreign currency translation |  | 1.9 |  |  | (1.2) |
Balance at end of year |  | $ | 34.4 |  |  | $ | 34.4 |
Schedule of Research and Development Expense | Research and development expense, which was included in “Marketing, general and administrative expense” in the Consolidated Statements of Income, was as follows:
(In millions) |  | 2023 |  | 2022 |  | 2021
Research and development expense |  | $ | 135.8 |  |  | $ | 136.1 |  |  | $ | 136.6 |
Schedule of Cash Paid for Interest and Income taxes | Cash paid for interest and income taxes was as follows:
(In millions) |  | 2023 |  | 2022 |  | 2021
Interest |  | $ | 109.9 |  |  | $ | 80.9 |  |  | $ | 62.8 |
Income taxes, net of refunds |  | 234.9 |  |  | 204.8 |  |  | 253.4 |
Schedule of Balance Sheet Locations of Deferred Revenue | The following table shows the amounts and balance sheet locations of deferred revenue as of December 30, 2023 and December 31, 2022:
(In millions) |  | December 30, 2023 |  | December 31, 2022
Other current liabilities |  | $ | 18.1 |  |  | $ | 22.2 |
Long-term retirement benefits and other liabilities |  | 1.3 |  |  | 2.1 |
Total deferred revenue |  | $ | 19.4 |  |  | $ | 24.3 |

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