$AVY
Avery Dennison Corp

2022 Q3 Form 10-Q Financial Statement

#000000881822000012 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q1 2021 Q3
Revenue $2.347B $2.183B $2.102B
YoY Change 11.66% 9.66% 21.57%
Cost Of Revenue $1.704B $1.598B $1.526B
YoY Change 11.65% 12.56% 22.56%
Gross Profit $643.5M $585.1M $576.3M
YoY Change 11.66% 2.45% 19.02%
Gross Profit Margin 27.42% 26.8% 27.42%
Selling, General & Admin $332.7M $332.3M $307.0M
YoY Change 8.37% 10.11% 18.85%
% of Gross Profit 51.7% 56.79% 53.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.20M $72.60M $55.20M
YoY Change 32.61% 30.81% 6.15%
% of Gross Profit 11.38% 12.41% 9.58%
Operating Expenses $332.7M $332.3M $307.0M
YoY Change 8.37% 10.11% 18.85%
Operating Profit $310.8M $252.8M $269.3M
YoY Change 15.41% -6.13% 19.21%
Interest Expense $20.80M -$1.900M $16.00M
YoY Change 30.0% -78.16% 2.56%
% of Operating Profit 6.69% -0.75% 5.94%
Other Income/Expense, Net $1.300M $500.0K $1.400M
YoY Change -7.14% -123.81% -1500.0%
Pretax Income $287.9M $244.0M $255.3M
YoY Change 12.77% -4.43% 29.07%
Income Tax $73.40M $60.90M $70.40M
% Of Pretax Income 25.49% 24.96% 27.58%
Net Earnings $214.5M $182.7M $183.8M
YoY Change 16.7% -4.6% 22.13%
Net Earnings / Revenue 9.14% 8.37% 8.74%
Basic Earnings Per Share $2.63 $2.21
Diluted Earnings Per Share $2.61 $2.188M $2.19
COMMON SHARES
Basic Shares Outstanding 81.70M shares 83.00M shares
Diluted Shares Outstanding 82.10M shares 83.80M shares

Balance Sheet

Concept 2022 Q3 2022 Q1 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $164.8M $162.7M $344.8M
YoY Change -52.2% -35.51% 21.11%
Cash & Equivalents $164.8M $162.7M $344.8M
Short-Term Investments
Other Short-Term Assets $228.8M $240.2M $233.1M
YoY Change -1.84% 13.57% 8.67%
Inventory $990.1M $907.2M $824.8M
Prepaid Expenses
Receivables $1.565B $1.425B $1.339B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.949B $2.735B $2.742B
YoY Change 7.56% 13.18% 15.46%
LONG-TERM ASSETS
Property, Plant & Equipment $1.451B $1.478B $1.345B
YoY Change 7.9% 9.97% 8.99%
Goodwill $1.856B $1.882B
YoY Change 65.57%
Intangibles $882.6M $911.4M
YoY Change
Long-Term Investments
YoY Change
Other Assets $834.1M $836.2M $974.4M
YoY Change -14.4% -13.14% 48.6%
Total Long-Term Assets $5.144B $5.237B $3.681B
YoY Change 39.74% 42.79% 10.0%
TOTAL ASSETS
Total Short-Term Assets $2.949B $2.735B $2.742B
Total Long-Term Assets $5.144B $5.237B $3.681B
Total Assets $8.092B $7.972B $6.423B
YoY Change 26.0% 31.03% 12.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.411B $1.299B $1.227B
YoY Change 15.03% 23.59% 31.49%
Accrued Expenses $220.5M $475.3M $241.5M
YoY Change -8.7% 25.34% 10.43%
Deferred Revenue $24.70M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $738.6M $318.8M $33.60M
YoY Change 2098.21% 392.74% -72.93%
Total Short-Term Liabilities $3.001B $2.548B $2.083B
YoY Change 44.08% 32.29% 14.68%
LONG-TERM LIABILITIES
Long-Term Debt $2.493B $2.786B $2.020B
YoY Change 23.42% 35.76% 0.01%
Other Long-Term Liabilities $433.7M $474.9M $506.9M
YoY Change -14.44% -5.7% 15.52%
Total Long-Term Liabilities $2.927B $3.261B $2.527B
YoY Change 15.83% 27.59% 2.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.001B $2.548B $2.083B
Total Long-Term Liabilities $2.927B $3.261B $2.527B
Total Liabilities $6.156B $6.047B $4.719B
YoY Change 30.44% 31.49% 7.59%
SHAREHOLDERS EQUITY
Retained Earnings $4.182B $3.881B
YoY Change
Common Stock $980.0M $986.4M $124.1M
YoY Change 689.69% -87.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.937B $1.924B $1.704B
YoY Change
Total Liabilities & Shareholders Equity $8.092B $7.972B $6.423B
YoY Change 26.0% 31.03% 12.27%

Cashflow Statement

Concept 2022 Q3 2022 Q1 2021 Q3
OPERATING ACTIVITIES
Net Income $214.5M $182.7M $183.8M
YoY Change 16.7% -4.6% 22.13%
Depreciation, Depletion And Amortization $73.20M $72.60M $55.20M
YoY Change 32.61% 30.81% 6.15%
Cash From Operating Activities $268.2M $284.0M $267.5M
YoY Change 0.26% -8.24% 3.76%
INVESTING ACTIVITIES
Capital Expenditures -$61.40M -$131.7M -$62.70M
YoY Change -2.07% 16.45% 104.9%
Acquisitions
YoY Change
Other Investing Activities -$1.600M -$500.0K -$2.000M
YoY Change -20.0% -99.36% -53.49%
Cash From Investing Activities -$63.00M -$132.2M -$64.70M
YoY Change -2.63% -30.89% 85.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -182.6M -195.8M -187.4M
YoY Change -2.56% 23.92% -8.94%
NET CHANGE
Cash From Operating Activities 268.2M 284.0M 267.5M
Cash From Investing Activities -63.00M -132.2M -64.70M
Cash From Financing Activities -182.6M -195.8M -187.4M
Net Change In Cash 22.60M -44.00M 15.40M
YoY Change 46.75% 10.55% -9.94%
FREE CASH FLOW
Cash From Operating Activities $268.2M $284.0M $267.5M
Capital Expenditures -$61.40M -$131.7M -$62.70M
Free Cash Flow $329.6M $415.7M $330.2M
YoY Change -0.18% -1.63% 14.49%

Facts In Submission

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AVERY DENNISON CORPORATION
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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Commitments and Contingencies <div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Legal Proceedings </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We are involved in various lawsuits, claims, inquiries, and other regulatory and compliance matters, most of which are routine to the nature of our business. When it is probable that a loss will be incurred and where a range of the loss can be reasonably estimated, the best estimate within the range is accrued. When the best estimate within the range cannot be determined, the low end of the range is accrued. The ultimate resolution of these claims could affect future results of operations should our exposure be materially different from our estimates or should we incur liabilities that were not previously accrued. Potential insurance reimbursements are not offset against potential liabilities. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We are currently party to a litigation in which ADASA Inc. (“Adasa”), an unrelated third party, alleged that certain of our RFID products infringed on its patent. We recorded a contingent liability related to this matter in the second quarter of 2021 in the amount of $26.6 million based on a jury verdict issued on May 14, 2021. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the third quarter of 2021, the first instance judgment associated with the jury verdict was issued. This resulted in additional potential liability of $35.8 million</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> for, among other things, royalties on a higher number of tags and royalties on tags sold after March 31, 2021. We have not increased our previously recorded contingent liability for this additional potential liability. With continued evaluation of the matter and our defenses, as well as consultation with our outside counsel, we continue to believe that Adasa’s patent is invalid and that, even if valid, we have not infringed it, and that the royalty rate used as the basis for the jury’s determination is unreasonable under prevailing industry standards, as well as that any liability related to this matter would be substantially lower than that which is reflected in either the jury verdict or the first instance judgment. On October 22, 2021, we appealed the judgment to the United States Court of Appeals for the Federal Circuit and continue to believe meritorious defenses exist to significantly reduce the liability we currently have recorded. As our appeal is still pending, we maintained our current contingent liability of $26.6 million for this matter as a reasonable estimate within the range of probable outcomes. We have largely completed our migration to alternative encoding methods used in our other RFID tags.</span></div><div style="margin-top:12pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Because of the uncertainties associated with claims resolution and litigation, future expenses to resolve these matters could be higher than the liabilities we have accrued; however, we are unable to reasonably estimate a range of potential expenses. If information were to become available that allowed us to reasonably estimate a range of potential expenses in an amount higher or lower than what we have accrued and determined such to be probable, we would adjust our accrued liabilities accordingly. Additional lawsuits, claims, inquiries, and other regulatory and compliance matters could arise in the future. The range of expenses for resolving any future matters would be assessed as they arise; until then, a range of potential expenses for such resolution cannot be determined. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Based upon current information, we believe that the impact of the resolution of these matters would not be, individually or in the aggregate, material to our financial position, results of operations or cash flows. </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Environmental Expenditures </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Environmental expenditures are generally expensed. When it is probable that a loss will be incurred and where a range of the loss can be reasonably estimated, the best estimate within the range is accrued. When the best estimate within the range cannot be determined, the low end of the range is accrued. The ultimate resolution of these matters could affect future results of operations should our exposure be materially different from our estimates or should we incur liabilities that were not previously accrued. Potential insurance reimbursements are not offset against potential liabilities. We review our estimates of the costs of complying with environmental laws related to remediation and cleanup of various sites, including sites in which governmental agencies have designated us as a potentially responsible party (“PRP”). However, environmental expenditures for newly acquired assets and those that extend or improve the economic useful life of existing assets are capitalized and amortized over the shorter of the estimated useful life of the acquired asset or the remaining life of the existing asset. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As of July 2, 2022, we have been designated by the U.S. Environmental Protection Agency (“EPA”) and/or other responsible state agencies as a PRP at eleven waste disposal or waste recycling sites that are the subject of separate investigations or proceedings concerning alleged soil and/or groundwater contamination. No settlement of our liability related to any of these sites has been agreed upon. We are participating with other PRPs at these sites and anticipate that our share of remediation costs will be determined pursuant to agreements that we negotiate with the EPA or other governmental authorities. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">These estimates could change as a result of changes in planned remedial actions, remediation technologies, site conditions, the estimated time to complete remediation, environmental laws and regulations, and other factors. Because of the uncertainties associated with environmental assessment and remediation activities, our future expenses to remediate these sites could be higher than the liabilities we have accrued; however, we are unable to reasonably estimate a range of potential expenses. If information were to become available that allowed us to reasonably estimate a range of potential expenses in an amount higher or lower than what we have accrued, we would adjust our environmental liabilities accordingly. In addition, we may be identified as a PRP at additional sites in the future. The range of expenses for remediation of any future-identified sites would be addressed as they arise; until then, a range of expenses for such remediation cannot be determined. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The activity related to our environmental liabilities for the six months ended July 2, 2022 is shown below. </span></div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:85.718%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.082%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(In millions)</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Balance at January 1, 2022</span></div></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21.9 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Charges, net of reversals</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.0 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Payments</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(.9)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Balance at July 2, 2022</span></div></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">22.0 </span></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>Approximately $3 million and $2 million, respectively, of this balance was classified as short-term and included in “Other current liabilities” in the unaudited Condensed Consolidated Balance Sheets as of July 2, 2022 and January 1, 2022
CY2022Q3 avy Environmental Potentially Responsible Party Number Of Sites
EnvironmentalPotentiallyResponsiblePartyNumberOfSites
11 site
CY2022Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
21900000 usd
avy Environmental Charges Net Of Reversals
EnvironmentalChargesNetOfReversals
1000000.0 usd
us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
900000 usd
CY2022Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
22000000.0 usd
CY2022Q3 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
3000000 usd
CY2022Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
2000000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2347000000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2102000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4696300000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4153300000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
20800000 usd
CY2021Q3 us-gaap Interest Expense
InterestExpense
16000000.0 usd
us-gaap Interest Expense
InterestExpense
40400000 usd
us-gaap Interest Expense
InterestExpense
32200000 usd
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1300000 usd
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1400000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2700000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2700000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
287900000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
255300000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
557600000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
524200000 usd
CY2022Q3 avy Other Expense Income Net
OtherExpenseIncomeNet
3400000 usd
CY2021Q3 avy Other Expense Income Net
OtherExpenseIncomeNet
-600000 usd
avy Other Expense Income Net
OtherExpenseIncomeNet
1800000 usd
avy Other Expense Income Net
OtherExpenseIncomeNet
300000 usd
CY2022Q3 avy Transaction And Related Costs
TransactionAndRelatedCosts
100000 usd
CY2021Q3 avy Transaction And Related Costs
TransactionAndRelatedCosts
0 usd
avy Transaction And Related Costs
TransactionAndRelatedCosts
300000 usd
avy Transaction And Related Costs
TransactionAndRelatedCosts
700000 usd
CY2022Q3 avy Loss Gain From Outcomes Of Legal Proceedings Net
LossGainFromOutcomesOfLegalProceedingsNet
700000 usd
CY2021Q3 avy Loss Gain From Outcomes Of Legal Proceedings Net
LossGainFromOutcomesOfLegalProceedingsNet
-2500000 usd
avy Loss Gain From Outcomes Of Legal Proceedings Net
LossGainFromOutcomesOfLegalProceedingsNet
1700000 usd
avy Loss Gain From Outcomes Of Legal Proceedings Net
LossGainFromOutcomesOfLegalProceedingsNet
-400000 usd
CY2022Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
500000 usd
CY2021Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-200000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
500000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-200000 usd
CY2022Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
0 usd
CY2021Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
0 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
3700000 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
0 usd
CY2022Q3 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
CY2021Q3 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
4800000 usd
CY2022Q3 avy Other Expense Income Net
OtherExpenseIncomeNet
3400000 usd
CY2021Q3 avy Other Expense Income Net
OtherExpenseIncomeNet
-600000 usd
avy Other Expense Income Net
OtherExpenseIncomeNet
1800000 usd
avy Other Expense Income Net
OtherExpenseIncomeNet
300000 usd
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
435900000 usd
CY2022Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
393600000 usd
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
254500000 usd
CY2022Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
233100000 usd
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
299700000 usd
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
280500000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
990100000 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
907200000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3591800000 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3626200000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2140800000 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2148500000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1451000000 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1477700000 usd
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
33000000.0 usd
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
44600000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5700000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-2700000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1900000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2500000 usd
avy Accounts Receivable Allowance For Credit Loss Foreign Currency Translation And Other
AccountsReceivableAllowanceForCreditLossForeignCurrencyTranslationAndOther
-1200000 usd
avy Accounts Receivable Allowance For Credit Loss Foreign Currency Translation And Other
AccountsReceivableAllowanceForCreditLossForeignCurrencyTranslationAndOther
0 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
35600000 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
39400000 usd

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