$AVY
Avery Dennison Corp

2022 Q4 Form 10-Q Financial Statement

#000000881822000014 Filed on November 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2021 Q4
Revenue $2.317B $2.072B
YoY Change 11.84%
Cost Of Revenue $1.698B $1.517B
YoY Change 11.9%
Gross Profit $619.2M $554.4M
YoY Change 11.69%
Gross Profit Margin 26.72% 26.76%
Selling, General & Admin $330.8M $296.9M
YoY Change 11.42%
% of Gross Profit 53.42% 53.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $72.00M $61.90M
YoY Change 16.32%
% of Gross Profit 11.63% 11.17%
Operating Expenses $330.8M $296.9M
YoY Change 11.42%
Operating Profit $288.4M $257.5M
YoY Change 12.0%
Interest Expense -$12.50M -$13.10M
YoY Change -4.58%
% of Operating Profit -4.33% -5.09%
Other Income/Expense, Net $1.400M $900.0K
YoY Change 55.56%
Pretax Income $272.5M $224.4M
YoY Change 21.43%
Income Tax $51.00M $59.20M
% Of Pretax Income 18.72% 26.38%
Net Earnings $221.5M $164.1M
YoY Change 34.98%
Net Earnings / Revenue 9.56% 7.92%
Basic Earnings Per Share $2.73 $1.98
Diluted Earnings Per Share $2.705M $1.961M
COMMON SHARES
Basic Shares Outstanding 81.20M shares 82.90M shares
Diluted Shares Outstanding 81.90M shares 83.70M shares

Balance Sheet

Concept 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $128.2M $207.2M
YoY Change -38.13%
Cash & Equivalents $128.2M $207.2M
Short-Term Investments
Other Short-Term Assets $233.6M $251.0M
YoY Change -6.93%
Inventory $1.014B $879.1M
Prepaid Expenses
Receivables $1.586B $1.441B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.962B $2.779B
YoY Change 6.6%
LONG-TERM ASSETS
Property, Plant & Equipment $1.443B $1.406B
YoY Change 2.64%
Goodwill $1.825B
YoY Change
Intangibles $855.1M
YoY Change
Long-Term Investments
YoY Change
Other Assets $958.0M $955.5M
YoY Change 0.26%
Total Long-Term Assets $5.081B $5.189B
YoY Change -2.09%
TOTAL ASSETS
Total Short-Term Assets $2.962B $2.779B
Total Long-Term Assets $5.081B $5.189B
Total Assets $8.042B $7.968B
YoY Change 0.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.383B $1.268B
YoY Change 9.06%
Accrued Expenses $236.7M $283.6M
YoY Change -16.54%
Deferred Revenue $22.20M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $669.9M $398.8M
YoY Change 67.98%
Total Short-Term Liabilities $2.939B $2.609B
YoY Change 12.64%
LONG-TERM LIABILITIES
Long-Term Debt $2.463B $2.800B
YoY Change -12.05%
Other Long-Term Liabilities $632.8M $504.1M
YoY Change 25.53%
Total Long-Term Liabilities $3.096B $3.304B
YoY Change -6.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.939B $2.609B
Total Long-Term Liabilities $3.096B $3.304B
Total Liabilities $6.035B $6.169B
YoY Change -2.16%
SHAREHOLDERS EQUITY
Retained Earnings $4.347B
YoY Change
Common Stock $990.6M $124.1M
YoY Change 698.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.007B $1.799B
YoY Change
Total Liabilities & Shareholders Equity $8.042B $7.968B
YoY Change 0.94%

Cashflow Statement

Concept 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income $221.5M $164.1M
YoY Change 34.98%
Depreciation, Depletion And Amortization $72.00M $61.90M
YoY Change 16.32%
Cash From Operating Activities $220.8M $286.0M
YoY Change -22.8%
INVESTING ACTIVITIES
Capital Expenditures -$80.40M -$50.20M
YoY Change 60.16%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.440B
YoY Change -100.0%
Cash From Investing Activities -$80.40M -$1.490B
YoY Change -94.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$49.90M -$31.00M
YoY Change 60.97%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -172.8M 1.068B
YoY Change -116.18%
NET CHANGE
Cash From Operating Activities 220.8M 286.0M
Cash From Investing Activities -80.40M -1.490B
Cash From Financing Activities -172.8M 1.068B
Net Change In Cash -32.40M -136.1M
YoY Change -76.19%
FREE CASH FLOW
Cash From Operating Activities $220.8M $286.0M
Capital Expenditures -$80.40M -$50.20M
Free Cash Flow $301.2M $336.2M
YoY Change -10.41%

Facts In Submission

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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Reconciliation Gilti Amount
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us-gaap Effective Income Tax Rate Reconciliation Gilti Amount
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CY2022Q4 avy Reasonably Possible Decrease In Uncertain Tax Positions Including Interest And Penalties Primarily As Result Of Audit Settlements And Closing Tax Years During Next12 Months
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12400000 usd
CY2022Q4 us-gaap Net Income Loss
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CY2021Q4 us-gaap Net Income Loss
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us-gaap Net Income Loss
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634200000 usd
us-gaap Net Income Loss
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81200000 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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82900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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81800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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700000 shares
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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800000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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900000 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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81900000 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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82400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83900000 shares
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4900000 usd
CY2022Q4 us-gaap Earnings Per Share Basic
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2.73
CY2021Q4 us-gaap Earnings Per Share Basic
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1.98
us-gaap Earnings Per Share Basic
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7.75
us-gaap Earnings Per Share Basic
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6.72
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2.70
CY2021Q4 us-gaap Earnings Per Share Diluted
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1.96
us-gaap Earnings Per Share Diluted
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7.70
us-gaap Earnings Per Share Diluted
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6.64
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CY2022Q4 us-gaap Common Stock Value
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124100000 usd
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CY2022Q4 us-gaap Common Stock Value
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124100000 usd
CY2021Q4 us-gaap Common Stock Value
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124100000 usd
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4900000 usd
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
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0.75
CY2021Q4 us-gaap Common Stock Dividends Per Share Declared
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us-gaap Common Stock Dividends Per Share Declared
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2.18
us-gaap Common Stock Dividends Per Share Declared
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1.98
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us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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26600000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
Commitments and Contingencies <div style="margin-top:12pt;text-align:justify"><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. The oral hearing was held on September 8, 2022, and the court has yet to issue a decision. 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 October 1, 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 nine months ended October 1, 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%">.3 </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%">(1.3)</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 October 1, 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%">20.9 </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 October 1, 2022 and January 1, 2022
CY2022Q4 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
300000 usd
us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
1300000 usd
CY2022Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
20900000 usd
CY2022Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
3000000 usd
CY2022Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
2000000 usd
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2317100000 usd
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2071800000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7013400000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6225100000 usd
CY2022Q4 us-gaap Interest Expense
InterestExpense
21200000 usd
CY2021Q4 us-gaap Interest Expense
InterestExpense
18000000.0 usd
us-gaap Interest Expense
InterestExpense
61600000 usd
us-gaap Interest Expense
InterestExpense
50200000 usd
CY2022Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1400000 usd
CY2021Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
900000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4100000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3600000 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
272500000 usd
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
224400000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
830100000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
748600000 usd
CY2022Q4 avy Other Expense Income Net
OtherExpenseIncomeNet
-3900000 usd
CY2021Q4 avy Other Expense Income Net
OtherExpenseIncomeNet
16000000.0 usd
avy Other Expense Income Net
OtherExpenseIncomeNet
-2100000 usd
avy Other Expense Income Net
OtherExpenseIncomeNet
16300000 usd
CY2022Q4 avy Transaction And Related Costs
TransactionAndRelatedCosts
0 usd
CY2021Q4 avy Transaction And Related Costs
TransactionAndRelatedCosts
19400000 usd
avy Transaction And Related Costs
TransactionAndRelatedCosts
300000 usd
avy Transaction And Related Costs
TransactionAndRelatedCosts
20100000 usd
CY2022Q4 avy Loss Gain From Outcomes Of Legal Proceedings Net
LossGainFromOutcomesOfLegalProceedingsNet
0 usd
CY2021Q4 avy Loss Gain From Outcomes Of Legal Proceedings Net
LossGainFromOutcomesOfLegalProceedingsNet
0 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
CY2022Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
8700000 usd
CY2021Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
4900000 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
12400000 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
4900000 usd
CY2022Q4 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
CY2021Q4 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
CY2022Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
233100000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
500000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-200000 usd
CY2022Q4 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
CY2021Q4 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
900000 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
5700000 usd
CY2022Q4 avy Other Expense Income Net
OtherExpenseIncomeNet
-3900000 usd
CY2021Q4 avy Other Expense Income Net
OtherExpenseIncomeNet
16000000.0 usd
avy Other Expense Income Net
OtherExpenseIncomeNet
-2100000 usd
avy Other Expense Income Net
OtherExpenseIncomeNet
16300000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
447500000 usd
CY2022Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
393600000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
259300000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
307600000 usd
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
280500000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1014400000 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
907200000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3559100000 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3626200000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2116500000 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2148500000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1442600000 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
5600000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-4800000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3600000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3100000 usd
avy Accounts Receivable Allowance For Credit Loss Foreign Currency Translation And Other
AccountsReceivableAllowanceForCreditLossForeignCurrencyTranslationAndOther
-2300000 usd
avy Accounts Receivable Allowance For Credit Loss Foreign Currency Translation And Other
AccountsReceivableAllowanceForCreditLossForeignCurrencyTranslationAndOther
300000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
32700000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
37000000.0 usd

Files In Submission

Name View Source Status
avy-20221001_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
avy-20221001_pre.xml Edgar Link unprocessable
avy-20221001_cal.xml Edgar Link unprocessable
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0000008818-22-000014-index.html Edgar Link pending
0000008818-22-000014.txt Edgar Link pending
0000008818-22-000014-xbrl.zip Edgar Link pending
avy-20221001.htm Edgar Link pending
avy-20221001.xsd Edgar Link pending
avy-20221101x10qex311.htm Edgar Link pending
avy-20221101x10qex312.htm Edgar Link pending
avy-20221101x10qex321.htm Edgar Link pending
avy-20221101x10qex322.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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avy-20221001_htm.xml Edgar Link completed
avy-20221001_def.xml Edgar Link unprocessable
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report.css Edgar Link pending
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