XML 40 R30.htm IDEA: XBRL DOCUMENT v3.23.3
Segment and Disaggregated Revenue Information (Tables)
9 Months Ended
Sep. 30, 2023
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 EndedNine Months Ended
(In millions)September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Net sales to unaffiliated customers
Materials Group:
U.S.$425.4 $491.4 $1,302.5 $1,471.3 
Europe494.6 635.7 1,503.8 1,903.6 
Asia327.9 348.1 981.6 1,053.6 
Latin America126.2 130.6 357.1 359.1 
Other international81.9 88.2 247.5 266.2 
Total Materials Group1,456.0 1,694.0 4,392.5 5,053.8 
Solutions Group:
Apparel408.7 446.1 1,226.4 1,447.4 
Identification Solutions and Vestcom233.6 177.0 634.9 512.2 
Total Solutions Group642.3 623.1 1,861.3 1,959.6 
Net sales to unaffiliated customers$2,098.3 $2,317.1 $6,253.8 $7,013.4 
Additional financial information by reportable segment and Corporate is shown below.
Three Months Ended Nine Months Ended
(In millions)September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Intersegment sales
Materials Group$40.6 $39.8 $113.7 $104.1 
Solutions Group5.2 10.1 25.2 29.2 
Intersegment sales$45.8 $49.9 $138.9 $133.3 
Income before taxes
Materials Group$176.5 $235.9 $530.8 $705.4 
Solutions Group50.7 75.8 95.0 250.7 
Corporate expense(20.3)(19.4)(63.3)(68.5)
Interest expense(31.0)(21.2)(89.3)(61.6)
Other non-operating expense (income), net8.7 1.4 19.9 4.1 
Income before taxes$184.6 $272.5 $493.1 $830.1 
Other expense (income), net, by reportable segment and Corporate
Materials Group$31.8 $(7.3)$52.2 $(9.9)
Solutions Group10.7 3.4 76.5 6.3 
Corporate3.8 — 3.7 1.5 
Other expense (income), net$46.3 $(3.9)$132.4 $(2.1)
Other expense (income), net, by type were as follows:
Three Months Ended Nine Months Ended
(In millions)September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Other expense (income), net, by type
Restructuring charges:
Severance and related costs$38.7 $4.7 $64.6 $8.7 
Asset impairment charges5.1 .1 6.8 .1 
Other items:
Outcomes of legal proceedings2.5 — 56.3 1.7 
Transaction and related costs— — 4.2 .3 
(Gain) loss on sales of assets— — .5 (.5)
Gain on venture investment— (8.7)— (12.4)
Other expense (income), net$46.3 $(3.9)$132.4 $(2.1)