XML 47 R33.htm IDEA: XBRL DOCUMENT
v3.24.0.1

COMMITMENTS AND LEASES (Tables) | 12 Months Ended
--- | ---
Dec. 30, 2023
Leases [Abstract] |
Schedule of Supplemental Cost Information Related to Leases | Supplemental cost information related to leases is shown below.
(In millions) |  | 2023 |  | 2022 |  | 2021
Operating lease costs |  | $ | 73.6 |  |  | $ | 70.8 |  |  | $ | 68.8 |
Schedule of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases is shown below.
(In millions) |  | Balance Sheet Location |  | 2023 |  | 2022
Assets |  |  |  |  |  |
Operating |  | Other assets |  | $ | 200.2 |  |  | $ | 161.7 |
Finance(1) |  | Property, plant and equipment, net |  | 29.6 |  |  | 27.5 |
Total leased assets |  |  |  | $ | 229.8 |  |  | $ | 189.2 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 45.4 |  |  | $ | 42.4 |
Finance |  | Short-term borrowings and current portion of long-term debt and finance leases |  | 6.3 |  |  | 5.4 |
Non-current: |  |  |  |  |  |
Operating |  | Long-term retirement benefits and other liabilities |  | 152.3 |  |  | 113.6 |
Finance |  | Long-term debt and finance leases |  | 7.0 |  |  | 8.2 |
Total lease liabilities |  |  |  | $ | 211.0 |  |  | $ | 169.6 |
(1) | Finance lease assets are net of accumulated amortization of $14.6 million and $12.4 million as of December 30, 2023 and December 31, 2022, respectively.
Schedule of Supplemental cash flow information related to leases | Supplemental cash flow information related to leases is shown below.
(In millions) |  | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in measurement of operating lease liabilities |  | $ | 55.8 |  |  | $ | 60.5 |  |  | $ | 54.2 |
Operating lease assets obtained in exchange for operating lease liabilities |  | 92.4 |  |  | 37.2 |  |  | 58.0 |
Schedule of weighted average remaining lease term and discount rate information | Weighted average remaining lease term and discount rate information related to leases as of December 30, 2023 and December 31, 2022 is shown below.
|  | 2023 |  | 2022
Weighted average remaining lease term (in years): |  |  |  |
Operating |  | 7.1 |  | 5.9
Finance |  | 3.1 |  | 2.7
Weighted average discount rate (percentage): |  |  |  |
Operating |  | 4.1 | % |  | 3.2 | %
Finance |  | 4.2 |  |  | 2.8 |
Schedule of Operating Lease Liabilities by Maturity Date | Operating and finance lease liabilities by maturity date from December 30, 2023 are shown below.
(In millions) |  | Operating Leases |  | Finance Leases
2024 |  | $ | 50.3 |  |  | $ | 6.9 |
2025 |  | 41.0 |  |  | 3.5 |
2026 |  | 32.4 |  |  | 1.9 |
2027 |  | 23.0 |  |  | 1.3 |
2028 |  | 15.1 |  |  | .6 |
2029 and thereafter |  | 69.5 |  |  | .6 |
Total lease payments |  | 231.3 |  |  | 14.8 |
Less: imputed interest |  | (33.6) |  |  | (1.5) |
Present value of lease liabilities |  | $ | 197.7 |  |  | $ | 13.3 |
Schedule of Finance Lease Liabilities by Maturity Date | Operating and finance lease liabilities by maturity date from December 30, 2023 are shown below.
(In millions) |  | Operating Leases |  | Finance Leases
2024 |  | $ | 50.3 |  |  | $ | 6.9 |
2025 |  | 41.0 |  |  | 3.5 |
2026 |  | 32.4 |  |  | 1.9 |
2027 |  | 23.0 |  |  | 1.3 |
2028 |  | 15.1 |  |  | .6 |
2029 and thereafter |  | 69.5 |  |  | .6 |
Total lease payments |  | 231.3 |  |  | 14.8 |
Less: imputed interest |  | (33.6) |  |  | (1.5) |
Present value of lease liabilities |  | $ | 197.7 |  |  | $ | 13.3 |

X
- Definition Lease information related to balance sheet. + References No definition available. + Details
Name: | avy_LeaseInformationRelatedToBalanceSheetTableTextBlock
Namespace Prefix: | avy_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Lease information related to cash flow information. + References No definition available. + Details
Name: | avy_LeaseInformationRelatedToCashFlowInformationTableTextBlock
Namespace Prefix: | avy_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Weighted average remaining lease term and lease discount rate information. + References No definition available. + Details
Name: | avy_WeightedAverageRemainingLeaseTermAndLeaseDiscountRateInformationTableTextBlock
Namespace Prefix: | avy_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration