XML 15 R3.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Condensed Balance Sheets - USD ($)
$ in Millions
Jun. 29, 2024
Dec. 30, 2023
Jul. 01, 2023
Current assets:      
Cash and cash equivalents $ 148.3 $ 179.0 $ 176.5
Accounts receivable, less allowances: June 29, 2024: $8.9; December 30, 2023 $18.3; July 1, 2023: $12.0 272.2 230.8 241.5
Inventories:      
Finished products, net 295.4 371.6 645.9
Raw materials and work-in-process, net 1.7 2.0 2.0
Total inventories 297.1 373.6 647.9
Prepaid expenses and other current assets 73.2 81.1 78.9
Current assets held for sale 0.0 160.6 19.1
Total current assets 790.8 1,025.1 1,163.9
Noncurrent assets:      
Property plant and equipment net of accumulated depreciation: June 29, 2024: $247.1; December 30, 2023: $255.2; July 1, 2023: $250.0 90.2 96.3 134.3
Lease right-of-use assets, net 103.6 118.2 155.4
Goodwill 425.8 427.1 469.7
Indefinite-lived intangibles 173.4 174.1 279.2
Amortizable intangibles, net 33.1 34.9 59.1
Deferred Income Tax Assets, Net 116.4 116.4 25.1
Other assets 63.0 70.7 70.6
Total assets 1,796.3 2,062.8 2,357.3
Current liabilities:      
Accounts payable 181.6 206.0 252.2
Accrued salaries and wages 28.2 37.1 19.2
Other accrued liabilities 188.2 252.4 254.5
Lease liabilities 32.6 34.7 39.2
Current maturities of long-term debt 10.0 10.0 10.0
Borrowings under revolving credit agreements 225.0 305.0 385.0
Disposal Group, Including Discontinued Operation, Liabilities, Current 0.0 24.2 4.1
Total current liabilities 665.6 869.4 964.2
Noncurrent liabilities:      
Long-term debt, less current maturities 579.7 605.8 718.5
Accrued pension liabilities 77.0 78.4 72.1
Deferred Income Tax Liabilities, Net 27.8 26.9 33.9
Operating Lease, Liability, Noncurrent 119.8 132.4 146.7
Other liabilities 56.0 49.9 55.0
Stockholders’ equity:      
Common Stock - par value $1, authorized 320,000,000 shares; shares issued (including shares in treasury): June 29, 2024: 113,406,905 shares; December 30, 2023: 112,953,782 shares; July 1, 2023: 112,918,046 shares 113.4 113.0 112.9
Additional paid-in capital 371.6 364.0 326.8
Retained earnings 817.9 834.8 933.8
Accumulated other comprehensive loss (149.9) (142.2) (135.5)
Cost of shares in treasury: June 29, 2024: 33,396,787 shares; December 30, 2023: 33,403,280 shares; July 1, 2023: 33,409,577 shares (890.9) (891.0) (891.2)
Total Wolverine World Wide, Inc. stockholders’ equity 262.1 278.6 346.8
Noncontrolling interest 8.3 21.4 20.1
Total stockholders’ equity 270.4 300.0 366.9
Total liabilities and stockholders’ equity $ 1,796.3 $ 2,062.8 $ 2,357.3