2024 Q1 Form 10-K Financial Statement

#000000881824000003 Filed on February 21, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.151B $2.111B $8.364B
YoY Change -8.92% -0.52%
Cost Of Revenue $1.519B $1.515B $6.087B
YoY Change -10.8% -0.14%
Gross Profit $632.2M $596.0M $2.278B
YoY Change -3.75% -1.53%
Gross Profit Margin 29.39% 28.24% 27.23%
Selling, General & Admin $365.2M $334.9M $1.314B
YoY Change 1.24% 18.15%
% of Gross Profit 57.77% 56.19% 57.68%
Research & Development $135.8M
YoY Change -0.59%
% of Gross Profit 5.96%
Depreciation & Amortization $49.00M $77.00M $298.4M
YoY Change 6.94% 22.24%
% of Gross Profit 7.75% 12.92% 13.1%
Operating Expenses $365.2M $334.9M $1.314B
YoY Change 1.24% 5.22%
Operating Profit $267.0M $261.1M $963.8M
YoY Change -9.47% -9.44%
Interest Expense $28.60M -$31.20M -$120.5M
YoY Change 149.6% 155.3%
% of Operating Profit 10.71% -11.95% -12.5%
Other Income/Expense, Net $8.600M $10.90M $30.80M
YoY Change 678.57% 651.22%
Pretax Income $234.4M $201.6M $694.7M
YoY Change -26.02% -30.01%
Income Tax $62.00M $58.50M $191.7M
% Of Pretax Income 26.45% 29.02% 27.59%
Net Earnings $172.4M $143.1M $503.0M
YoY Change -35.4% -32.04%
Net Earnings / Revenue 8.01% 6.78% 6.01%
Basic Earnings Per Share $2.14 $6.23
Diluted Earnings Per Share $2.13 $1.77 $6.20
COMMON SHARES
Basic Shares Outstanding 80.51M shares 80.53M shares 80.70M shares
Diluted Shares Outstanding 81.00M shares 81.10M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $185.7M $215.0M $215.0M
YoY Change 67.71% 32.15%
Cash & Equivalents $185.7M $215.0M $215.0M
Short-Term Investments
Other Short-Term Assets $250.6M $245.4M $245.4M
YoY Change 5.05% 2.16%
Inventory $972.5M $920.7M $920.7M
Prepaid Expenses
Receivables $1.478B $1.415B $1.415B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.887B $2.796B $2.796B
YoY Change -5.6% 2.25%
LONG-TERM ASSETS
Property, Plant & Equipment $1.598B $1.626B $1.626B
YoY Change 12.7% -2.1%
Goodwill $1.994B $2.014B
YoY Change 10.35%
Intangibles $823.8M $849.1M
YoY Change -0.7%
Long-Term Investments $71.00M
YoY Change 44.02%
Other Assets $837.2M $925.3M $925.3M
YoY Change -3.41% 51.49%
Total Long-Term Assets $5.368B $5.414B $5.414B
YoY Change 6.56% 3.38%
TOTAL ASSETS
Total Short-Term Assets $2.887B $2.796B $2.796B
Total Long-Term Assets $5.368B $5.414B $5.414B
Total Assets $8.255B $8.210B $8.210B
YoY Change 2.08% 2.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.302B $1.277B $1.277B
YoY Change -7.66% -1.67%
Accrued Expenses $203.4M $355.8M $401.2M
YoY Change 50.32% -23.23%
Deferred Revenue $18.10M
YoY Change -18.47%
Short-Term Debt $0.00 $0.00 $1.000M
YoY Change -99.68%
Long-Term Debt Due $1.171B $622.2M $622.2M
YoY Change -7.12% 11212.73%
Total Short-Term Liabilities $3.308B $2.700B $2.700B
YoY Change -8.16% 5.95%
LONG-TERM LIABILITIES
Long-Term Debt $2.070B $2.622B $2.622B
YoY Change 6.46% -5.88%
Other Long-Term Liabilities $673.1M $760.3M $760.3M
YoY Change 20.15% 60.1%
Total Long-Term Liabilities $2.743B $3.382B $3.382B
YoY Change 9.26% 3.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.308B $2.700B $2.700B
Total Long-Term Liabilities $2.743B $3.382B $3.382B
Total Liabilities $6.051B $6.082B $6.082B
YoY Change 0.78% 0.57%
SHAREHOLDERS EQUITY
Retained Earnings $4.809B $4.692B
YoY Change 7.93%
Common Stock $958.1M $978.6M
YoY Change -1.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.204B $2.128B $2.128B
YoY Change
Total Liabilities & Shareholders Equity $8.255B $8.210B $8.210B
YoY Change 2.08% 2.99%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $172.4M $143.1M $503.0M
YoY Change -35.4% -32.04%
Depreciation, Depletion And Amortization $49.00M $77.00M $298.4M
YoY Change 6.94% 22.24%
Cash From Operating Activities $119.8M $311.9M $826.0M
YoY Change 41.26% -21.09%
INVESTING ACTIVITIES
Capital Expenditures $48.80M $96.80M $285.1M
YoY Change -220.4% -204.78%
Acquisitions
YoY Change
Other Investing Activities -$6.300M -$18.00M -$173.9M
YoY Change -88.14%
Cash From Investing Activities -$62.00M -$114.8M -$459.0M
YoY Change 42.79% -73.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$137.5M
YoY Change -23.99%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$85.00M -194.5M -317.2M
YoY Change 12.56% -152.49%
NET CHANGE
Cash From Operating Activities $119.8M 311.9M 826.0M
Cash From Investing Activities -$62.00M -114.8M -459.0M
Cash From Financing Activities -$85.00M -194.5M -317.2M
Net Change In Cash -$29.30M 2.600M 49.80M
YoY Change -108.02% -157.37%
FREE CASH FLOW
Cash From Operating Activities $119.8M $311.9M $826.0M
Capital Expenditures $48.80M $96.80M $285.1M
Free Cash Flow $71.00M $215.1M $540.9M
YoY Change -28.59% -58.99%

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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2022 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2022 us-gaap Comprehensive Income Net Of Tax
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CY2022 us-gaap Comprehensive Income Net Of Tax
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CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2022 us-gaap Treasury Stock Value Acquired Cost Method
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StockIssuedDuringPeriodSharesShareBasedCompensation
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CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2023 us-gaap Treasury Stock Value Acquired Cost Method
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StockIssuedDuringPeriodSharesShareBasedCompensation
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StockIssuedDuringPeriodValueShareBasedCompensation
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StockIssuedDuringPeriodSharesEmployeeBenefitPlan
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StockIssuedDuringPeriodValueEmployeeBenefitPlan
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CY2023 us-gaap Common Stock Dividends Per Share Declared
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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177400000 usd
CY2022 us-gaap Depreciation
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167300000 usd
CY2023 us-gaap Adjustment For Amortization
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111000000.0 usd
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
113300000 usd
CY2022 us-gaap Adjustment For Amortization
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76800000 usd
CY2023 avy Accounts Receivable Credit Loss Expense Reversal And Sales Returns
AccountsReceivableCreditLossExpenseReversalAndSalesReturns
49900000 usd
CY2022 avy Accounts Receivable Credit Loss Expense Reversal And Sales Returns
AccountsReceivableCreditLossExpenseReversalAndSalesReturns
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CY2022 avy Accounts Receivable Credit Loss Expense Reversal And Sales Returns
AccountsReceivableCreditLossExpenseReversalAndSalesReturns
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CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2022 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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CY2022 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2023 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2023 us-gaap Increase Decrease In Accounts Payable
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CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
68200000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
255200000 usd
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
18900000 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
19300000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
278100000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
255000000.0 usd
CY2023 avy Purchase Of Software And Other Deferred Charges
PurchaseOfSoftwareAndOtherDeferredCharges
19800000 usd
CY2022 avy Purchase Of Software And Other Deferred Charges
PurchaseOfSoftwareAndOtherDeferredCharges
20400000 usd
CY2022 avy Purchase Of Software And Other Deferred Charges
PurchaseOfSoftwareAndOtherDeferredCharges
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CY2023 us-gaap Proceeds From Life Insurance Policies
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CY2022 us-gaap Proceeds From Life Insurance Policies
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CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2022 us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
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CY2023 us-gaap Payments To Acquire Businesses And Interest In Affiliates
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CY2022 us-gaap Payments To Acquire Businesses And Interest In Affiliates
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CY2022 us-gaap Payments To Acquire Businesses And Interest In Affiliates
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2023 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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CY2022 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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CY2022 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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CY2022 us-gaap Repayments Of Long Term Debt And Capital Securities
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CY2022 us-gaap Payments Of Dividends Common Stock
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CY2022 us-gaap Payments For Repurchase Of Common Stock
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CY2022 us-gaap Payments For Repurchase Of Common Stock
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CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022 us-gaap Proceeds From Payments For Other Financing Activities
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CY2022 us-gaap Proceeds From Payments For Other Financing Activities
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
215000000.0 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
167200000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Fiscal Period
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<div style="margin-top:12pt"><span style="color:#e31f26;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our fiscal years generally consist of 52 weeks, but every fifth or sixth fiscal year consists of 53 weeks; our 2023, 2022, and 2021 fiscal years consisted of 52-week periods ending December 30, 2023, December 31, 2022 and January 1, 2022, respectively.</span></div>
CY2023 us-gaap Use Of Estimates
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<div style="margin-top:12pt"><span style="color:#e31f26;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div>The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, requires management to make estimates and assumptions for the reporting period and as of the date of our financial statements. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities and the reported amounts of revenue and expense. As the effects of future events cannot be determined, actual results could differ significantly from those estimates.
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CY2022 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2022 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2022Q1 us-gaap Goodwill
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CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2022Q4 us-gaap Goodwill
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CY2023 us-gaap Goodwill Acquired During Period
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CY2023Q4 us-gaap Goodwill
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CY2022Q4 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
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CY2023Q4 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
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CY2023 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
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155300000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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154700000 usd
CY2023 us-gaap Finitelived Intangible Assets Acquired1
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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527600000 usd
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446100000 usd
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CY2023 us-gaap Amortization Of Intangible Assets
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CY2022 us-gaap Amortization Of Intangible Assets
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CY2022 us-gaap Amortization Of Intangible Assets
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44600000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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89700000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
88900000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
85900000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
85400000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
78000000.0 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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265900000 usd
CY2023Q4 us-gaap Medium Term Notes
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CY2022Q4 us-gaap Medium Term Notes
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CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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CONTINGENCIES<div style="margin-top:6pt"><span style="color:#e31f26;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Legal Proceedings</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',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:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',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 within our Solutions Group reportable segment infringed its patent. The case was filed on October 24, 2017 in the United States District Court in the District of Oregon (Eugene Division) and is captioned ADASA Inc. v. Avery Dennison Corporation. We recorded a contingent liability in the amount of $26.6 million related to this matter in the second quarter of 2021 based on a jury verdict issued on May 14, 2021. </span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the fourth quarter of 2021, the first instance judgment associated with the jury verdict was issued. This resulted in additional potential liability for the RFID tags sold during the period from the jury verdict to the issuance of the first instance judgment, a higher royalty imposed by the judge applicable to tags sold after the judgment and a royalty on additional late-disclosed tags, as well as sanctions, prejudgment interest, costs, and attorneys’ fees. In addition, Adasa was awarded an ongoing royalty on in-scope tags sold after October 14, 2021. On October 22, 2021, we appealed the judgment to the United States Court of Appeals for the Federal Circuit ("CAFC").</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the fourth quarter of 2022, the CAFC issued its opinion, reversing the grant of summary judgment of validity as to anticipation and obviousness, vacating the sanctions ruling, and remanding the case for retrial with respect to validity for anticipation and obviousness over the prior art. The CAFC affirmed subject-matter eligibility and damages if liability is determined on retrial. On remand, the trial court was required to reconsider the amount of sanctions consistent with the CAFC's instruction to limit sanctions to the late-disclosed tags. With continued evaluation of the matter and our defenses, as well as consultation with our outside counsel, we believed that Adasa’s patent was invalid and that the sanctions sought by Adasa were unreasonable. In addition, we believed that there were appealable grounds in the CAFC’s decision; as a result, we sought U.S. Supreme Court review on February 27, 2023.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">After the U.S. Supreme Court denied our writ of certiorari petition on May 30, 2023, the trial court’s retrial began on July 10, 2023. On July 18, 2023, the jury in the retrial issued a verdict that Adasa’s patent is valid. Although the court had not issued its judgment, including its decision on sanctions, we increased our contingent liability to reflect our best estimate of </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">the anticipated judgment to $80.4 million as of July 1, 2023, with an expectation to continue adjusting our accrual quarterly, as appropriate. As of December 30, 2023 our contingent liability was $82.9 million. We have grounds to appeal and plan to appeal any judgment based on the jury verdict; therefore, we classified the total contingent liability as non-current due to the time expected for this matter to be fully resolved.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">A hearing took place on October 24, 2023 before the district court on the pending sanctions decision and certain post-trial motions. We determined that no additional adjustment to our accrual was required as a result of the hearing.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On January 23, 2024, the district court issued two orders relating to Adasa’s original and supplemental bill of taxable costs, which did not have an impact on the liability we recorded as of December 30, 2023. On January 25, 2024, the district court issued a revised sanction order lowering the sanction against us from approximately $20 million to approximately $5.2 million, based on a royalty of $0.0025/late-reported tag, which was consistent with the amount we had accrued. In February 2024, the district court issued decisions denying our motion for judgment as a matter of law and our motion for a new trial. We plan to appeal these recent decisions.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We have largely completed our migration to alternative encoding methods for our RFID tags.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',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 legal proceedings 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 determined to be probable in an amount higher or lower than what we have accrued, 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 their resolution cannot be determined. Based upon current information, we believe that the impact of the resolution of legal proceedings 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:#e31f26;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Environmental Expenditures</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',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:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As of December 30, 2023, 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:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',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 determined to be probable. 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 their remediation cannot be determined. </span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The activity related to our <span style="-sec-ix-hidden:f-1020"><span style="-sec-ix-hidden:f-1021">environmental liabilities</span></span> in 2023 and 2022 is shown below:</span></div><div style="margin-top:6pt;text-align:center"><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><td style="width:71.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(In millions)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Balance at beginning of year</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></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:'Arial',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:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24.3 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></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:'Arial',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:'Arial',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"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Charges, net of reversals</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></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:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2.5 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></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:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.4 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Payments</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></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:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2.3)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></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:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2.0)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Balance at end of year</span></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24.5 </span></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24.3 </span></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>Approximately $11 million and $9 million, respectively, of this balance was classified as short-term and included in “<span style="-sec-ix-hidden:f-1032"><span style="-sec-ix-hidden:f-1033">Other current liabilities</span></span>” in the Consolidated Balance Sheets as of December 30, 2023 and December 31, 2022.
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EnvironmentalPotentiallyResponsiblePartyNumberOfSites
11 site
CY2022Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
24300000 usd
CY2022Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
21900000 usd
CY2023 avy Environmental Charges Net Of Reversals
EnvironmentalChargesNetOfReversals
2500000 usd
CY2022 avy Environmental Charges Net Of Reversals
EnvironmentalChargesNetOfReversals
4400000 usd
CY2023 us-gaap Accrual For Environmental Loss Contingencies Payments1
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2300000 usd
CY2022 us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
2000000.0 usd
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AccrualForEnvironmentalLossContingencies
24500000 usd
CY2022Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
24300000 usd
CY2023Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
11000000 usd
CY2022Q4 us-gaap Accrued Environmental Loss Contingencies Current
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9000000 usd
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71000000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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CY2023 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
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CY2022 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
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23000000 usd
CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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80700000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81600000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82900000 shares
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81100000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82200000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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83800000 shares
CY2023 us-gaap Earnings Per Share Basic
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6.23
CY2022 us-gaap Earnings Per Share Basic
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9.28
CY2022 us-gaap Earnings Per Share Basic
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8.93
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.20
CY2022 us-gaap Earnings Per Share Diluted
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9.21
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.83
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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CY2023Q4 us-gaap Common Stock Shares Authorized
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CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
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CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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592800000 usd
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CY2022 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2023 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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CY2023 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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1200000 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2022 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2022 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
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CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
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CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
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CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
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CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
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CY2022 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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CY2022 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2023 avy Each Full Value Awards For Purpose Of Number Of Shares Authorized For Issuance
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CY2023 us-gaap Allocated Share Based Compensation Expense
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22300000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
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47400000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
35000000 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0384
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2390
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0184
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M21D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
47.65
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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73.96
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P3Y5M1D
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63000.0 shares
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190.54
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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204100 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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109.92
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y4M9D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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18700000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
192600 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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105.10
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y4M9D
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18700000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
141100 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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73.96
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y5M1D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
18100000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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3500000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
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1000000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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900000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 usd
CY2022Q4 us-gaap Restructuring Reserve
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5100000 usd
CY2023 avy Restructuring Settlement And Impairment Provisions Net Of Reversals
RestructuringSettlementAndImpairmentProvisionsNetOfReversals
79400000 usd
CY2023 us-gaap Payments For Restructuring
PaymentsForRestructuring
49200000 usd
CY2023 us-gaap Restructuring Reserve Settled Without Cash2
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8300000 usd
CY2023 us-gaap Restructuring Reserve Translation Adjustment
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CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
27700000 usd
CY2022Q1 us-gaap Restructuring Reserve
RestructuringReserve
11500000 usd
CY2022 avy Restructuring Settlement And Impairment Provisions Net Of Reversals
RestructuringSettlementAndImpairmentProvisionsNetOfReversals
7300000 usd
CY2022 us-gaap Payments For Restructuring
PaymentsForRestructuring
13400000 usd
CY2022 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
100000 usd
CY2022 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
200000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
5100000 usd
CY2023 us-gaap Restructuring Charges
RestructuringCharges
79400000 usd
CY2022 us-gaap Restructuring Charges
RestructuringCharges
7700000 usd
CY2022 us-gaap Restructuring Charges
RestructuringCharges
13600000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
42500000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
29400000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
7300000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
9000000.0 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
8800000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5300000 usd
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
160800000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
177700000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
229900000 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
212300000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
253400000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
18100000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
22200000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1300000 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2100000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
19400000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
24300000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21000000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
23500000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
18400000 usd
CY2023Q4 us-gaap Supplier Finance Program Obligation Current
SupplierFinanceProgramObligationCurrent
397400000 usd
CY2022Q4 us-gaap Supplier Finance Program Obligation Current
SupplierFinanceProgramObligationCurrent
430100000 usd
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
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0000008818-24-000003-index.html Edgar Link pending
0000008818-24-000003.txt Edgar Link pending
0000008818-24-000003-xbrl.zip Edgar Link pending
avy-20231230.htm Edgar Link pending
avy-20231230.xsd Edgar Link pending
avy-20231230xex311.htm Edgar Link pending
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avy-20231230xex321.htm Edgar Link pending
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avy-20231230_g1.jpg Edgar Link pending
ex-21avyx20231230.htm Edgar Link pending
ex-23avyx20231230.htm Edgar Link pending
ex-97avyx20231230.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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avy-20231230_cal.xml Edgar Link unprocessable
avy-20231230_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
avy-20231230_htm.xml Edgar Link completed
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report.css Edgar Link pending
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avy-20231230_pre.xml Edgar Link unprocessable
avy-20231230_def.xml Edgar Link unprocessable