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Consolidated Condensed Balance Sheets - USD ($)
$ in Millions
Jul. 01, 2023
Dec. 31, 2022
Jul. 02, 2022
Current assets:      
Cash and cash equivalents $ 176.5 $ 131.5 $ 149.3
Accounts receivable, less allowances: July 1, 2023: $12.0; December 31, 2022 $11.1; July 2, 2022: $25.8 241.5 241.7 420.0
Inventories:      
Finished products, net 645.9 743.2 628.6
Raw materials and work-in-process, net 2.0 2.0 10.9
Total inventories 647.9 745.2 639.5
Prepaid expenses and other current assets 78.9 79.0 84.5
Current assets held for sale 19.1 67.9 0.0
Total current assets 1,163.9 1,265.3 1,293.3
Noncurrent assets:      
Property plant and equipment net of accumulated depreciation: July 1, 2023: $250.0; December 31, 2022: $236.1; July 2, 2022: $224.3 134.3 136.2 127.5
Lease right-of-use assets, net 155.4 174.7 166.7
Goodwill 469.7 485.0 539.1
Indefinite-lived intangibles 279.2 274.0 680.7
Amortizable intangibles, net 59.1 67.4 70.1
Deferred Income Tax Assets, Net 25.1 24.5 1.2
Other assets 70.6 65.6 70.4
Total assets 2,357.3 2,492.7 2,949.0
Current liabilities:      
Accounts payable 252.2 272.2 318.1
Accrued salaries and wages 19.2 32.3 28.6
Other accrued liabilities 254.5 322.9 215.0
Lease liabilities 39.2 39.1 33.0
Current maturities of long-term debt 10.0 10.0 10.0
Borrowings under revolving credit agreements 385.0 425.0 490.0
Disposal Group, Including Discontinued Operation, Liabilities, Current 4.1 8.8 0.0
Total current liabilities 964.2 1,110.3 1,094.7
Noncurrent liabilities:      
Long-term debt, less current maturities 718.5 723.0 727.4
Accrued pension liabilities 72.1 72.9 105.0
Deferred Income Tax Liabilities, Net 33.9 35.3 118.2
Operating Lease, Liability, Noncurrent 146.7 153.6 150.9
Other liabilities 55.0 58.6 91.0
Stockholders’ equity:      
Common Stock - par value $1, authorized 320,000,000 shares; shares issued (including shares in treasury): July 1, 2023: 112,918,046 shares; December 31, 2022: 112,202,078 shares; July 2, 2022: 112,149,377 shares 112.9 112.2 112.1
Additional paid-in capital 326.8 325.4 311.9
Retained earnings 933.8 907.2 1,246.1
Accumulated other comprehensive loss (135.5) (132.9) (134.8)
Cost of shares in treasury: July 1, 2023: 33,409,577 shares; December 31, 2022: 33,413,204 shares; July 2, 2022: 33,416,302 shares (891.2) (891.3) (891.4)
Total Wolverine World Wide, Inc. stockholders’ equity 346.8 320.6 643.9
Noncontrolling interest 20.1 18.4 17.9
Total stockholders’ equity 366.9 339.0 661.8
Total liabilities and stockholders’ equity $ 2,357.3 $ 2,492.7 $ 2,949.0