10-Q Filing

AVERY DENNISON CORP CIK: 8818 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-15-034254`
Period End Date	20150331
Filing Date	20150505
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	avy-20150404.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 39 Cash Flow Statement 54 Comprehensive Income 16

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$30.50M	USD	Point-in-time
Trade accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$34.30M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$212.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$227.00M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$205.10M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$351.60M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	124.13M	shares	Point-in-time
Trade accounts receivable, less allowances of $34.3 and $30.5 at April 4, 2015 and January 3, 2015, respectively	`AccountsReceivableNetCurrent`	$988.00M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	124.13M	shares	Point-in-time
Trade accounts receivable, less allowances of $34.3 and $30.5 at April 4, 2015 and January 3, 2015, respectively	`AccountsReceivableNetCurrent`	$958.10M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	90.46M	shares	Point-in-time
Inventories, net	`InventoryNet`	$491.80M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	90.83M	shares	Point-in-time
Inventories, net	`InventoryNet`	$508.90M	USD	Point-in-time
Current deferred and refundable income taxes	`CurrentDeferredAndRefundableIncomeTaxes`	$107.50M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	33.67M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	33.29M	shares	Point-in-time
Current deferred and refundable income taxes	`CurrentDeferredAndRefundableIncomeTaxes`	$102.90M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$800.00K	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$17.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$134.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$136.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.96B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.92B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$2.57B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$2.65B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.78B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.74B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$875.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$831.20M	USD	Point-in-time
Goodwill	`Goodwill`	$721.60M	USD	Point-in-time
Goodwill	`Goodwill`	$697.00M	USD	Point-in-time
Other intangibles resulting from business acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$67.40M	USD	Point-in-time
Other intangibles resulting from business acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$60.90M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$305.80M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$311.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$463.60M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$453.60M	USD	Point-in-time
Total assets	`Assets`	$4.36B	USD	Point-in-time
Total assets	`Assets`	$4.31B	USD	Point-in-time
Short-term borrowings and current portion of long-term debt and capital leases	`DebtCurrent`	$204.30M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt and capital leases	`DebtCurrent`	$265.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$825.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$797.80M	USD	Point-in-time
Current deferred and payable income taxes	`CurrentDeferredAndPayableIncomeTaxes`	$64.90M	USD	Point-in-time
Current deferred and payable income taxes	`CurrentDeferredAndPayableIncomeTaxes`	$64.90M	USD	Point-in-time
Liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation`	$17.80M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$433.30M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$530.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.60B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.61B	USD	Point-in-time
Long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligations`	$945.30M	USD	Point-in-time
Long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligations`	$945.30M	USD	Point-in-time
Long-term retirement benefits and other liabilities	`LongTermRetirementBenefitsAndOtherLiabilities`	$610.40M	USD	Point-in-time
Long-term retirement benefits and other liabilities	`LongTermRetirementBenefitsAndOtherLiabilities`	$622.80M	USD	Point-in-time
Non-current deferred and payable income taxes	`NonCurrentDeferredAndPayableIncomeTaxes`	$124.10M	USD	Point-in-time
Non-current deferred and payable income taxes	`NonCurrentDeferredAndPayableIncomeTaxes`	$127.80M	USD	Point-in-time
Commitments and contingencies (see Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $1 par value per share, authorized - 400,000,000 shares at April 4, 2015 and January 3, 2015; issued - 124,126,624 shares at April 4, 2015 and January 3, 2015; outstanding - 90,834,254 shares and 90,458,956 shares at April 4, 2015 and January 3, 2015, respectively	`CommonStockValue`	$124.10M	USD	Point-in-time
Common stock, $1 par value per share, authorized - 400,000,000 shares at April 4, 2015 and January 3, 2015; issued - 124,126,624 shares at April 4, 2015 and January 3, 2015; outstanding - 90,834,254 shares and 90,458,956 shares at April 4, 2015 and January 3, 2015, respectively	`CommonStockValue`	$124.10M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$810.40M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$823.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.14B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.18B	USD	Point-in-time
Treasury stock at cost, 33,292,370 shares and 33,667,668 shares at April 4, 2015 and January 3, 2015, respectively	`TreasuryStockValue`	$1.47B	USD	Point-in-time
Treasury stock at cost, 33,292,370 shares and 33,667,668 shares at April 4, 2015 and January 3, 2015, respectively	`TreasuryStockValue`	$1.47B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-613.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-277.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-547.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-281.10M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.07B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.03B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$4.31B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$4.36B	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.53B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.55B	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.14B	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.10B	USD	1 Quarter
Gross profit	`GrossProfit`	$430.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$407.20M	USD	1 Quarter
Marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$296.70M	USD	1 Quarter
Marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$300.90M	USD	1 Quarter
Interest expense	`InterestExpense`	$15.40M	USD	1 Quarter
Interest expense	`InterestExpense`	$15.30M	USD	1 Quarter
Other expense, net	`OtherExpenseNet`	$14.30M	USD	1 Quarter
Other expense, net	`OtherExpenseNet`	$7.30M	USD	1 Quarter
Income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$87.80M	USD	1 Quarter
Income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$99.50M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$16.20M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$27.90M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$71.60M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$71.60M	USD	1 Quarter
(Loss) income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-400.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.60M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.20M	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.74	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.79	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareBasic`	$0.74	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareBasic`	$0.79	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.77	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.73	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net income per common share, assuming dilution (in dollars per share)	`EarningsPerShareDiluted`	$0.73	USD	1 Quarter
Net income per common share, assuming dilution (in dollars per share)	`EarningsPerShareDiluted`	$0.77	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.29	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.35	USD	1 Quarter
Common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	90.60M	shares	1 Quarter
Common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	96.10M	shares	1 Quarter
Common shares, assuming dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	92.40M	shares	1 Quarter
Common shares, assuming dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	98.00M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.60M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.20M	USD	1 Quarter
Depreciation	`Depreciation`	$33.20M	USD	1 Quarter
Depreciation	`Depreciation`	$33.60M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$16.40M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$16.10M	USD	1 Quarter
Provision for doubtful accounts and sales returns	`ProvisionForDoubtfulAccounts`	$9.80M	USD	1 Quarter
Provision for doubtful accounts and sales returns	`ProvisionForDoubtfulAccounts`	$7.30M	USD	1 Quarter
Net losses from asset impairments and sales/disposals of assets	`AssetImpairmentGainOnSaleOfProductLineAndNetLossOnSaleDisposalOfAssets`	$800.00K	USD	1 Quarter
Net losses from asset impairments and sales/disposals of assets	`AssetImpairmentGainOnSaleOfProductLineAndNetLossOnSaleDisposalOfAssets`	$1.10M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$7.40M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$6.00M	USD	1 Quarter
Other non-cash expense and loss	`OtherNoncashExpense`	$11.80M	USD	1 Quarter
Other non-cash expense and loss	`OtherNoncashExpense`	$13.60M	USD	1 Quarter
Changes in assets and liabilities and other adjustments	`IncreaseDecreaseInOperatingCapital`	$255.10M	USD	1 Quarter
Changes in assets and liabilities and other adjustments	`IncreaseDecreaseInOperatingCapital`	$144.50M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.30M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-108.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.70M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.30M	USD	1 Quarter
Purchases of software and other deferred charges	`PurchaseOfSoftwareAndOtherDeferredCharges`	$8.90M	USD	1 Quarter
Purchases of software and other deferred charges	`PurchaseOfSoftwareAndOtherDeferredCharges`	$1.40M	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.80M	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	1 Quarter
(purchases) sales of investments, net	`PaymentsForProceedsFromInvestments`	$400.00K	USD	1 Quarter
(purchases) sales of investments, net	`PaymentsForProceedsFromInvestments`	$-100.00K	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.30M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-47.40M	USD	1 Quarter
Net increase in borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebt`	$90.40M	USD	1 Quarter
Net increase in borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebt`	$64.20M	USD	1 Quarter
Payments of debt (maturities longer than 90 days)	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$200.00K	USD	1 Quarter
Payments of debt (maturities longer than 90 days)	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$400.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$27.80M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$31.80M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$59.20M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$33.80M	USD	1 Quarter
Proceeds from exercises of stock options, net	`ProceedsFromStockOptionsExercised`	$16.00M	USD	1 Quarter
Proceeds from exercises of stock options, net	`ProceedsFromStockOptionsExercised`	$12.50M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-3.20M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-8.40M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.30M	USD	1 Quarter
Effect of foreign currency translation on cash balances	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.40M	USD	1 Quarter
Effect of foreign currency translation on cash balances	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.50M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-146.50M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-14.50M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$212.50M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$227.00M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$205.10M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$351.60M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$212.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$227.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$205.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$351.60M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.60M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.20M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-900.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-72.10M	USD	1 Quarter
Pension and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax`	$-7.60M	USD	1 Quarter
Pension and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax`	$-5.50M	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax`	$-1.00M	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax`	$-100.00K	USD	1 Quarter
Other comprehensive (loss) income, before tax	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$4.50M	USD	1 Quarter
Other comprehensive (loss) income, before tax	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-65.50M	USD	1 Quarter
Income tax expense related to items of other comprehensive (loss) income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$900.00K	USD	1 Quarter
Income tax expense related to items of other comprehensive (loss) income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$1.20M	USD	1 Quarter
Other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$3.30M	USD	1 Quarter
Other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-66.40M	USD	1 Quarter
Total comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$74.50M	USD	1 Quarter
Total comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$5.20M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.