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Segment and Disaggregated Revenue Information (Tables) | 9 Months Ended
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Sep. 28, 2024
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 |  | Nine Months Ended
(In millions) | September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
Net sales to unaffiliated customers |  |  |  |  |  |  |
Materials Group: |  |  |  |  |  |  |
U.S. | $ | 436.4 |  |  | $ | 425.4 |  |  | $ | 1,315.4 |  |  | $ | 1,302.5 |
Europe, the Middle East and North Africa | 498.5 |  |  | 494.6 |  |  | 1,583.1 |  |  | 1,503.8 |
Asia | 354.9 |  |  | 327.9 |  |  | 1,025.1 |  |  | 981.6 |
Latin America | 124.4 |  |  | 126.2 |  |  | 372.0 |  |  | 357.1 |
Other | 83.5 |  |  | 81.9 |  |  | 245.4 |  |  | 247.5 |
Total Materials Group | 1,497.7 |  |  | 1,456.0 |  |  | 4,541.0 |  |  | 4,392.5 |
Solutions Group: |  |  |  |  |  |  |
Apparel and other | 463.8 |  |  | 408.7 |  |  | 1,399.6 |  |  | 1,226.4 |
Identification Solutions and Vestcom | 221.9 |  |  | 233.6 |  |  | 629.4 |  |  | 634.9 |
Total Solutions Group | 685.7 |  |  | 642.3 |  |  | 2,029.0 |  |  | 1,861.3 |
Net sales to unaffiliated customers | $ | 2,183.4 |  |  | $ | 2,098.3 |  |  | $ | 6,570.0 |  |  | $ | 6,253.8 |
Additional financial information by reportable segment and Corporate is shown below.
| Three Months Ended |  | Nine Months Ended
(In millions) | September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
Intersegment sales |  |  |  |  |  |  |
Materials Group | $ | 37.8 |  |  | $ | 40.6 |  |  | $ | 123.1 |  |  | $ | 113.7 |
Solutions Group | 12.3 |  |  | 5.2 |  |  | 38.6 |  |  | 25.2 |
Intersegment sales | $ | 50.1 |  |  | $ | 45.8 |  |  | $ | 161.7 |  |  | $ | 138.9 |
Income before taxes |  |  |  |  |  |  |
Materials Group | $ | 217.8 |  |  | $ | 176.5 |  |  | $ | 667.3 |  |  | $ | 530.8 |
Solutions Group | 66.5 |  |  | 50.7 |  |  | 186.7 |  |  | 95.0 |
Corporate expense | (19.9) |  |  | (20.3) |  |  | (73.4) |  |  | (63.3) |
Interest expense | (30.0) |  |  | (31.0) |  |  | (87.8) |  |  | (89.3) |
Other non-operating expense (income), net | 4.9 |  |  | 8.7 |  |  | 19.3 |  |  | 19.9 |
Income before taxes | $ | 239.3 |  |  | $ | 184.6 |  |  | $ | 712.1 |  |  | $ | 493.1 |
Other expense (income), net, by reportable segment and Corporate |  |  |  |  |  |  |
Materials Group(1) | $ | 4.4 |  |  | $ | 39.6 |  |  | $ | 39.9 |  |  | $ | 60.0 |
Solutions Group | 10.9 |  |  | 10.7 |  |  | 14.7 |  |  | 76.5 |
Corporate | — |  |  | 3.8 |  |  | .3 |  |  | 3.7 |
Other expense (income), net | $ | 15.3 |  |  | $ | 54.1 |  |  | $ | 54.9 |  |  | $ | 140.2 |
(1)Included the reclassification of the loss from Argentine peso remeasurement from "Marketing, general and administrative expense" to "Other expense (income), net" in the third quarter of 2023. The impact of the loss from Argentine peso remeasurement prior to the third quarter of 2023 was not material.
Other expense (income), net, by type were as follows:
| Three Months Ended |  | Nine Months Ended
(In millions) | September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
Other expense (income), net, by type |  |  |  |  |  |  |
Restructuring charges, net of reversals: |  |  |  |  |  |  |
Severance and related costs, net of reversals | $ | 11.0 |  |  | $ | 38.7 |  |  | $ | 22.2 |  |  | $ | 64.6 |
Asset impairment and lease cancellation charges | 1.4 |  |  | 5.1 |  |  | 3.4 |  |  | 6.8 |
Other items: |  |  |  |  |  |  |
(Gain) loss on venture investments | 2.5 |  |  | — |  |  | 19.7 |  |  | — |
Losses from Argentine peso remeasurement and Blue Chip Swap transactions(1) | .4 |  |  | 7.8 |  |  | 15.8 |  |  | 7.8 |
Outcomes of legal matters and settlements, net | — |  |  | 2.5 |  |  | (6.5) |  |  | 56.3 |
Transaction and related costs | — |  |  | — |  |  | .3 |  |  | 4.2 |
(Gain) loss on sales of assets | — |  |  | — |  |  | — |  |  | .5 |
Other expense (income), net | $ | 15.3 |  |  | $ | 54.1 |  |  | $ | 54.9 |  |  | $ | 140.2 |
(1)Included the reclassification of the loss from Argentine peso remeasurement from "Marketing, general and administrative expense" to "Other expense (income), net" in the third quarter of 2023. The impact of the loss from Argentine peso remeasurement prior to the third quarter of 2023 was not material.

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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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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