10-Q Filing

AVERY DENNISON CORP CIK: 8818 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001104659-16-117169`
Period End Date	20160331
Filing Date	20160503
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	avy-20160402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 28 Cash Flow Statement 54 Comprehensive Income 12

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.50M	USD	Point-in-time
Trade accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$33.90M	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
Common stock, authorized shares	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$158.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$207.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$189.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$169.60M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Trade accounts receivable, less allowances of $33.9 and $31.5 at April 2, 2016 and January 2, 2016, respectively	`AccountsReceivableNetCurrent`	$964.70M	USD	Point-in-time
Trade accounts receivable, less allowances of $33.9 and $31.5 at April 2, 2016 and January 2, 2016, respectively	`AccountsReceivableNetCurrent`	$1.02B	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	124.13M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	124.13M	shares	Point-in-time
Inventories, net	`InventoryNet`	$519.50M	USD	Point-in-time
Inventories, net	`InventoryNet`	$478.70M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	89.97M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	89.28M	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$2.50M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	34.85M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	34.16M	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$2.50M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$170.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$176.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.89B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.78B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$2.60B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$2.64B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.79B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.75B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$847.90M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$847.90M	USD	Point-in-time
Goodwill	`Goodwill`	$686.20M	USD	Point-in-time
Goodwill	`Goodwill`	$695.10M	USD	Point-in-time
Other intangibles resulting from business acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$41.30M	USD	Point-in-time
Other intangibles resulting from business acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$45.80M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$381.80M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$372.20M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$406.20M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$395.90M	USD	Point-in-time
Total assets	`Assets`	$4.25B	USD	Point-in-time
Total assets	`Assets`	$4.13B	USD	Point-in-time
Short-term borrowings and current portion of long-term debt and capital leases	`DebtCurrent`	$264.90M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt and capital leases	`DebtCurrent`	$95.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$814.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$836.90M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$549.20M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$492.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.59B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.46B	USD	Point-in-time
Long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligations`	$963.30M	USD	Point-in-time
Long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligations`	$963.60M	USD	Point-in-time
Long-term retirement benefits and other liabilities	`LongTermRetirementBenefitsAndOtherLiabilities`	$612.10M	USD	Point-in-time
Long-term retirement benefits and other liabilities	`LongTermRetirementBenefitsAndOtherLiabilities`	$637.40M	USD	Point-in-time
Non-current deferred and payable income taxes	`NonCurrentDeferredAndPayableIncomeTaxes`	$107.90M	USD	Point-in-time
Non-current deferred and payable income taxes	`NonCurrentDeferredAndPayableIncomeTaxes`	$111.50M	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 2, 2016 and January 2, 2016; issued - 124,126,624 shares at April 2, 2016 and January 2, 2016; outstanding - 89,276,441 shares and 89,967,697 shares at April 2, 2016 and January 2, 2016, respectively	`CommonStockValue`	$124.10M	USD	Point-in-time
Common stock, $1 par value per share, authorized - 400,000,000 shares at April 2, 2016 and January 2, 2016; issued - 124,126,624 shares at April 2, 2016 and January 2, 2016; outstanding - 89,276,441 shares and 89,967,697 shares at April 2, 2016 and January 2, 2016, respectively	`CommonStockValue`	$124.10M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$828.70M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$834.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.33B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.28B	USD	Point-in-time
Treasury stock at cost, 34,850,183 shares and 34,158,927 shares at April 2, 2016 and January 2, 2016, respectively	`TreasuryStockValue`	$1.59B	USD	Point-in-time
Treasury stock at cost, 34,850,183 shares and 34,158,927 shares at April 2, 2016 and January 2, 2016, respectively	`TreasuryStockValue`	$1.65B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-545.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-683.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-661.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-612.80M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$968.30M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$965.70M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$4.13B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$4.25B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.49B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.53B	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.10B	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.06B	USD	1 Quarter
Gross profit	`GrossProfit`	$430.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$422.60M	USD	1 Quarter
Marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$278.20M	USD	1 Quarter
Marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$300.40M	USD	1 Quarter
Interest expense	`InterestExpense`	$15.30M	USD	1 Quarter
Interest expense	`InterestExpense`	$15.30M	USD	1 Quarter
Other expense, net	`OtherExpenseNet`	$14.30M	USD	1 Quarter
Other expense, net	`OtherExpenseNet`	$5.60M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$123.50M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$100.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$28.10M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$33.90M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.90M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$89.60M	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareBasic`	$0.79	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareBasic`	$1.00	USD	1 Quarter
Net income per common share, assuming dilution (in dollars per share)	`EarningsPerShareDiluted`	$0.98	USD	1 Quarter
Net income per common share, assuming dilution (in dollars per share)	`EarningsPerShareDiluted`	$0.78	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.35	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.37	USD	1 Quarter
Common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	90.60M	shares	1 Quarter
Common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	89.40M	shares	1 Quarter
Common shares, assuming dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	92.40M	shares	1 Quarter
Common shares, assuming dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	91.10M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.90M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$89.60M	USD	1 Quarter
Depreciation	`Depreciation`	$33.20M	USD	1 Quarter
Depreciation	`Depreciation`	$29.00M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$15.30M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$16.10M	USD	1 Quarter
Provision for doubtful accounts and sales returns	`ProvisionForDoubtfulAccounts`	$11.20M	USD	1 Quarter
Provision for doubtful accounts and sales returns	`ProvisionForDoubtfulAccounts`	$14.80M	USD	1 Quarter
Net losses from asset impairments and sales/disposals of assets	`AssetImpairmentGainOnSaleOfProductLineAndNetLossOnSaleDisposalOfAssets`	$1.10M	USD	1 Quarter
Net losses from asset impairments and sales/disposals of assets	`AssetImpairmentGainOnSaleOfProductLineAndNetLossOnSaleDisposalOfAssets`	$600.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$7.50M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$7.40M	USD	1 Quarter
Other non-cash expense and loss	`OtherNoncashExpense`	$13.60M	USD	1 Quarter
Other non-cash expense and loss	`OtherNoncashExpense`	$12.80M	USD	1 Quarter
Changes in assets and liabilities and other adjustments	`IncreaseDecreaseInOperatingCapital`	$172.30M	USD	1 Quarter
Changes in assets and liabilities and other adjustments	`IncreaseDecreaseInOperatingCapital`	$153.50M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.60M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.30M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.20M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.30M	USD	1 Quarter
Purchases of software and other deferred charges	`PurchaseOfSoftwareAndOtherDeferredCharges`	$1.40M	USD	1 Quarter
Purchases of software and other deferred charges	`PurchaseOfSoftwareAndOtherDeferredCharges`	$2.00M	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.80M	USD	1 Quarter
Purchases of investments, net	`PaymentsForProceedsFromInvestments`	$3.80M	USD	1 Quarter
Purchases of investments, net	`PaymentsForProceedsFromInvestments`	$400.00K	USD	1 Quarter
Net cash used in by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.30M	USD	1 Quarter
Net cash used in by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.90M	USD	1 Quarter
Net increase in borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebt`	$169.40M	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`	$500.00K	USD	1 Quarter
Payments of debt (maturities longer than 90 days)	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$200.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$31.80M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$33.00M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$95.60M	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`	$16.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-9.20M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-8.40M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$47.10M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.00M	USD	1 Quarter
Effect of foreign currency translation on cash balances	`EffectOfExchangeRateOnCashAndCashEquivalents`	$900.00K	USD	1 Quarter
Effect of foreign currency translation on cash balances	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.50M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.20M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.80M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$158.80M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$207.20M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$189.00M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$169.60M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$158.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$207.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$189.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$169.60M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$71.90M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$89.60M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$18.90M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-72.00M	USD	1 Quarter
Pension and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-5.40M	USD	1 Quarter
Pension and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.20M	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-700.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-1.30M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$21.80M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-67.30M	USD	1 Quarter
Total comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$4.60M	USD	1 Quarter
Total comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$111.40M	USD	1 Quarter

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