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Consolidated Condensed Balance Sheets - USD ($)
$ in Millions
Apr. 01, 2023
Dec. 31, 2022
Apr. 02, 2022
Current assets:      
Cash and cash equivalents $ 116.2 $ 131.5 $ 149.6
Accounts receivable, less allowances: April 1, 2023: $13.3; December 31, 2022 $11.1; April 2, 2022: $25.4 251.2 241.7 370.6
Inventories:      
Finished products, net 723.7 743.2 470.6
Raw materials and work-in-process, net 2.2 2.0 12.7
Total inventories 725.9 745.2 483.3
Prepaid expenses and other current assets 87.2 79.0 74.4
Current assets held for sale 22.1 67.9 0.0
Total current assets 1,202.6 1,265.3 1,077.9
Noncurrent assets:      
Property plant and equipment net of accumulated depreciation: April 1, 2023: $242.7; December 31, 2022: $236.1; April 2, 2022: $222.0 140.5 136.2 128.4
Lease right-of-use assets, net 172.2 174.7 137.7
Goodwill 466.7 485.0 552.4
Indefinite-lived intangibles 276.6 274.0 707.4
Amortizable intangibles, net 60.1 67.4 72.6
Deferred Income Tax Assets, Net 28.5 24.5 1.6
Other assets 69.5 65.6 68.0
Total assets 2,416.7 2,492.7 2,746.0
Current liabilities:      
Accounts payable 226.9 272.2 293.8
Accrued salaries and wages 23.9 32.3 18.9
Other accrued liabilities 280.2 322.9 254.5
Lease liabilities 39.3 39.1 35.2
Current maturities of long-term debt 10.0 10.0 10.0
Borrowings under revolving credit agreements 450.0 425.0 355.0
Disposal Group, Including Discontinued Operation, Liabilities, Current 5.6 8.8 0.0
Total current liabilities 1,035.9 1,110.3 967.4
Noncurrent liabilities:      
Long-term debt, less current maturities 720.8 723.0 729.6
Accrued pension liabilities 72.6 72.9 106.2
Deferred Income Tax Liabilities, Net 34.2 35.3 110.8
Operating Lease, Liability, Noncurrent 150.9 153.6 119.3
Other liabilities 57.8 58.6 97.4
Stockholders’ equity:      
Common Stock - par value $1, authorized 320,000,000 shares; shares issued (including shares in treasury): April 1, 2023: 112,838,495 shares; December 31, 2022: 112,202,078 shares; April 2, 2022: 112,092,848 shares 112.8 112.2 112.1
Additional paid-in capital 323.8 325.4 302.3
Retained earnings 917.9 907.2 1,129.6
Accumulated other comprehensive loss (136.6) (132.9) (102.2)
Cost of shares in treasury: April 1, 2023: 33,411,379 shares; December 31, 2022: 33,413,204 shares; April 2, 2022: 31,035,541 shares (891.3) (891.3) (845.1)
Total Wolverine World Wide, Inc. stockholders’ equity 326.6 320.6 596.7
Noncontrolling interest 17.9 18.4 18.6
Total stockholders’ equity 344.5 339.0 615.3
Total liabilities and stockholders’ equity $ 2,416.7 $ 2,492.7 $ 2,746.0