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General (Tables)
 9 Months Ended
Oct. 03, 2015
General  
Summary of Previously Stated and Corrected Balances of Condensed Consolidated Balance Sheet, Condensed Consolidated Statements of Income and Condensed Consolidated Statement of Comprehensive Income

 

The effects of this revision on our unaudited Condensed Consolidated Balance Sheets are as follows:

(In millions)

 

As Previously Reported
January 3, 2015

 

Adjustment

 

As Revised
January 3, 2015

 

 

 

 

 

 

 

 

 

Non-current deferred income taxes

 

$
311.0

 

$
9.9

 

$
320.9

 

Total assets

 
4,360.2

 
9.9

 
4,370.1

 

 

 

 

 

 

 

 

 

Long-term retirement benefits and other liabilities

 
622.8

 
25.5

 
648.3

 

Retained earnings

 
2,137.1

 
(20.6)

 
2,116.5

 

Accumulated other comprehensive loss

 
(547.3)

 
5.0

 
(542.3

)

Total shareholders’ equity

 
1,066.5

 
(15.6)

 
1,050.9

 

Total liabilities and shareholders’ equity

 
4,360.2

 
9.9

 
4,370.1

 

 

 

 

 

 

 

 

 

 

The effects of this revision on our unaudited Condensed Consolidated Statements of Income are as follows:

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 27, 2014

 

September 27, 2014

 

(In millions)

 

As
Previously
Reported

 

Adjustment

 

As
Revised

 

As
Previously
Reported

 

Adjustment

 

As
Revised

 

Marketing, general and administrative expense

 

$
276.3

 

$
2.1

 

$
278.4

 

$
870.0

 

$
3.1

 

$
873.1

 

Income from continuing operations before taxes

 
101.2

 
(2.1

)
99.1

 
266.1

 
(3.1

)
263.0

 

Provision for income taxes

 
36.2

 
2.0

 
38.2

 
85.1

 

.4

 
85.5

 

Income from continuing operations

 
65.0

 
(4.1

)
60.9

 
181.0

 
(3.5

)
177.5

 

Loss from discontinued operations, net of tax

 

(.7

)

–

 

(.7

)
(3.0

)

–

 
(3.0

)

Net income

 
64.3

 
(4.1

)
60.2

 
178.0

 
(3.5

)
174.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per share amounts:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

.70

 

$

(.05

)

$

.65

 

$
1.91

 

$

(.04

)

$
1.87

 

Discontinued operations

 

(.01

)

.01

 

–

 

(.03

)

–

 

(.03

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share

 

$

.69

 

$

(.04

)

$

.65

 

$
1.88

 

$

(.04

)

$
1.84

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per common share, assuming dilution:

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

.68

 

$

(.04

)

$

.64

 

$
1.87

 

$

(.03

)

$
1.84

 

Discontinued operations

 

–

 

(.01

)

(.01

)

(.03

)

–

 

(.03

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share, assuming dilution

 

$

.68

 

$

(.05

)

$

.63

 

$
1.84

 

$

(.03

)

$
1.81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The effects of this revision on our unaudited Condensed Consolidated Statements of Comprehensive Income are as follows:

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 27, 2014

 

September 27, 2014

 

 

 

 

 

 

 

(In millions)

 

As
Previously
Reported

 

Adjustment

 

As
Revised

 

As
Previously
Reported

 

Adjustment

 

As
Revised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$
64.3

 

$
(4.1

)

$
60.2

 

$
178.0

 

$
(3.5

)

$
174.5

 

Pension and other postretirement benefits

 
5.7

 

–

 
5.7

 
16.6

 
5.0

 
21.6

 

Other comprehensive loss, before tax

 
(73.3

)

–

 
(73.3

)
(67.0

)
5.0

 
(62.0

)

Income tax expense related to components of other comprehensive loss

 
1.7

 
(1.0

)

.7

 
5.5

 

.9

 
6.4

 

Other comprehensive loss, net of tax

 
(75.0

)
1.0

 
(74.0

)
(72.5

)
4.1

 
(68.4

)

Total comprehensive (loss) income, net of tax

 
(10.7

)
(3.1

)
(13.8

)
105.5

 

.6

 
106.1