Segment and Disaggregated Revenue Information (Tables)

6 Months Ended

Jun. 29, 2024

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 Ended				Six Months Ended
(In millions)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Net sales to unaffiliated customers
Materials Group:
U.S.	$	441.6	$	430.7	$	879.0	$	877.1
Europe, the Middle East and North Africa	549.9		510.3		1,084.6		1,009.2
Asia	344.0		338.1		670.2		653.7
Latin America	127.0		117.2		247.6		230.9
Other	84.3		79.7		161.9		165.6
Total Materials Group	1,546.8		1,476.0		3,043.3		2,936.5
Solutions Group:
Apparel and other	476.2		398.9		935.8		817.7
Identification Solutions and Vestcom	212.3		215.6		407.5		401.3
Total Solutions Group	688.5		614.5		1,343.3		1,219.0
Net sales to unaffiliated customers	$	2,235.3	$	2,090.5	$	4,386.6	$	4,155.5

Additional financial information by reportable segment and Corporate is shown below.

	Three Months Ended				Six Months Ended
(In millions)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Intersegment sales
Materials Group	$	38.3	$	38.2	$	85.3	$	73.1
Solutions Group	15.4		10.0		26.3		20.0
Intersegment sales	$	53.7	$	48.2	$	111.6	$	93.1
Income before taxes
Materials Group	$	223.4	$	193.8	$	449.5	$	354.3
Solutions Group	64.1		(7.2)		120.2		44.3
Corporate expense	(25.7)		(21.1)		(53.5)		(43.0)
Interest expense	(29.2)		(31.9)		(57.8)		(58.3)
Other non-operating expense (income), net	5.8		6.6		14.4		11.2
Income before taxes	$	238.4	$	140.2	$	472.8	$	308.5
Other expense (income), net, by reportable segment and Corporate
Materials Group	$	21.1	$	6.1	$	35.5	$	20.4
Solutions Group	5.7		62.2		3.8		65.8
Corporate	.2		—		.3		(.1)
Other expense (income), net	$	27.0	$	68.3	$	39.6	$	86.1

Other expense (income), net, by type were as follows:

	Three Months Ended				Six Months Ended
(In millions)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Other expense (income), net, by type
Restructuring charges, net of reversals:
Severance and related costs, net of reversals	$	6.3	$	8.8	$	11.2	$	25.9
Asset impairment and lease cancellation charges	.9		1.2		2.0		1.7
Other items:
(Gain) loss on venture investments	15.0		—		17.2		—
Losses from Argentine peso remeasurement and Blue Chip Swap transactions	4.1		—		15.4		—
Outcomes of legal matters and settlements, net	.4		53.8		(6.5)		53.8
Transaction and related costs	.3		4.0		.3		4.2
(Gain) loss on sales of assets	—		.5		—		.5
Other expense (income), net	$	27.0	$	68.3	$	39.6	$	86.1