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Consolidated Condensed Balance Sheets - USD ($)
$ in Millions
Jul. 02, 2022
Jan. 01, 2022
Jul. 03, 2021
Current assets:      
Cash and cash equivalents $ 149.3 $ 161.7 $ 345.8
Accounts receivable, less allowances: July 2, 2022: $25.8; January 1, 2022 $28.3; July 3, 2021: $26.3 420.0 319.6 372.0
Inventories:      
Finished products, net 628.6 354.1 323.6
Raw materials and work-in-process, net 10.9 11.4 8.1
Total inventories 639.5 365.5 331.7
Prepaid expenses and other current assets 84.5 56.9 36.9
Total current assets 1,293.3 903.7 1,086.4
Noncurrent assets:      
Property plant and equipment net of accumulated depreciation: July 2, 2022: $224.3; January 1, 2022: $219.1; July 3, 2021: $207.2 127.5 129.0 120.2
Lease right-of-use assets, net 166.7 138.2 134.6
Goodwill 539.1 556.6 443.6
Indefinite-lived intangibles 680.7 718.1 382.3
Amortizable intangibles, net 70.1 74.6 70.6
Deferred Income Tax Assets, Net 1.2 1.8 2.0
Other assets 70.4 64.4 63.9
Total assets 2,949.0 2,586.4 2,303.6
Current liabilities:      
Accounts payable 318.1 222.1 279.2
Accrued salaries and wages 28.6 41.7 33.7
Other accrued liabilities 215.0 222.5 167.3
Lease liabilities 33.0 38.3 32.7
Current maturities of long-term debt 10.0 10.0 10.0
Borrowings under revolving credit agreements 490.0 225.0 0.0
Total current liabilities 1,094.7 759.6 522.9
Noncurrent liabilities:      
Long-term debt, less current maturities 727.4 731.8 708.4
Accrued pension liabilities 105.0 107.4 145.9
Deferred Income Tax Liabilities, Net 118.2 118.9 37.6
Operating Lease, Liability, Noncurrent 150.9 118.2 119.3
Other liabilities 91.0 106.1 120.4
Stockholders’ equity:      
Common Stock - par value $1, authorized 320,000,000 shares; shares issued (including shares in treasury): July 2, 2022: 112,149,377 shares; January 1, 2022: 111,632,094 shares; July 3, 2021: 111,382,593 shares 112.1 111.6 111.4
Additional paid-in capital 311.9 298.9 278.4
Retained earnings 1,246.1 1,128.2 1,159.6
Accumulated other comprehensive loss (134.8) (98.9) (118.9)
Cost of shares in treasury: July 2, 2022: 33,416,302 shares; January 1, 2022: 29,604,013 shares; July 3, 2021: 29,166,422 shares (891.4) (810.2) (797.3)
Total Wolverine World Wide, Inc. stockholders’ equity 643.9 629.6 633.2
Noncontrolling interest 17.9 14.8 15.9
Total stockholders’ equity 661.8 644.4 649.1
Total liabilities and stockholders’ equity $ 2,949.0 $ 2,586.4 $ 2,303.6