SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 29, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Cash paid for interest and income taxes

(In millions)	2012		2011		2010
Interest, net of capitalized amounts	$	68.0	$	65.0	$	69.7
Income taxes, net of refunds		97.7		70.5		94.5

Net inventories

(In millions)	2012		2011
Raw materials	$	184.5	$	193.8
Work-in-progress		139.2		126.4
Finished goods		149.6		154.9
Inventories, net	$	473.3	$	475.1

Property, Plant and Equipment

(In millions)	2012			2011
Land	$	56.5		$	56.5
Buildings and improvements		660.5			662.9
Machinery and equipment		2,090.5			2,108.1
Construction-in-progress		63.6			40.5
Property, plant and equipment		2,871.1			2,868.0
Accumulated depreciation		(1,855.6	)		(1,788.6	)
Property, plant and equipment, net	$	1,015.5		$	1,079.4

Capitalized software costs

(In millions)	2012			2011
Cost	$	388.4		$	368.4
Accumulated amortization		(236.3	)		(237.0	)
Software, net	$	152.1		$	131.4

Net income per common share was computed as follows:

(In millions, except per share amounts)		2012		2011		2010
(A)	Income from continuing operations	$	169.1	$	154.4	$	241.8
(B)	Income from discontinued operations, net of tax		46.3		35.7		75.1
(C)	Net income available to common shareholders	$	215.4	$	190.1	$	316.9
(D)	Weighted-average number of common shares outstanding		102.6		105.8		105.8
	Dilutive shares (additional common shares issuable under employee stock-based awards)		.9		1.0		1.0
(E)	Weighted-average number of common shares outstanding, assuming dilution		103.5		106.8		106.8
Net income per common share:
Continuing operations (A) ÷ (D)		$	1.65	$	1.46	$	2.29
Discontinued operations (B) ÷ (D)			.45		.34		.71
Net income per common share (C) ÷ (D)		$	2.10	$	1.80	$	3.00
Net income per common share, assuming dilution:
Continuing operations (A) ÷ (E)		$	1.63	$	1.45	$	2.27
Discontinued operations (B) ÷ (E)			.45		.33		.70
Net income per common share, assuming dilution (C) ÷ (E)		$	2.08	$	1.78	$	2.97

Accumulated other comprehensive loss (net of tax)

(In millions)	2012			2011
Foreign currency translation adjustment, net of tax of $.9 and $0 at year-end 2012 and 2011, respectively	$	180.5		$	137.8
Net actuarial loss, prior service cost and net transition assets, less amortization, net of tax benefits of $225.2 and $192.4 at year-end 2012 and 2011, respectively		(456.5	)		(394.1	)
Net loss on derivative instruments designated as cash flow and firm commitment hedges, net of tax benefits of $1.1 and $4.1 at year-end 2012 and 2011, respectively		(2.0	)		(6.9	)
Accumulated other comprehensive loss	$	(278.0	)	$	(263.2	)

Cash flow and firm commitment hedging instrument activities in other comprehensive loss, net of tax

(In millions)	2012			2011
Beginning accumulated derivative loss	$	(6.9	)	$	(9.0	)
Net loss reclassified to earnings		6.0			4.0
Net change in the revaluation of hedging transactions		(1.1	)		(1.9	)
Ending accumulated derivative loss	$	(2.0	)	$	(6.9	)

Tax expenses (benefit) allocated to each component of other comprehensive income

(In millions)	2012			2011			2010
Foreign currency translation adjustment	$	.9		$	–		$	–
Pension and other postretirement benefits:
Net actuarial loss		(38.3	)		(56.4	)		(12.5	)
Prior service credit (cost)		–			12.8			(.3	)
Amortization of net actuarial loss		6.9			4.7			8.7
Amortization of prior service credit		(1.5	)		(.7	)		(.4	)
Amortization of transition asset		(.1	)		(.1	)		(.1	)
Recognition of settlement or curtailment gain (loss)		.2			–			1.3
Derivative financial instruments:
Losses recognized on cash flow hedges		(.7	)		(1.1	)		(3.4	)
Losses reclassified to net income		3.7			2.4			4.6
Income tax benefit related to items of other comprehensive income	$	(28.9	)	$	(38.4	)	$	(2.1	)