10-Q Filing

AVERY DENNISON CORP CIK: 8818 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001104659-17-028832`
Period End Date	20170331
Filing Date	20170502
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	avy-20170401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 28 Cash Flow Statement 55 Comprehensive Income 12

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$47.80M	USD	Point-in-time
Trade accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$51.90M	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`	$169.60M	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`	$294.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$195.10M	USD	Point-in-time
Trade accounts receivable, less allowances of $51.9 and $47.8 at April 1, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$1.00B	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
Trade accounts receivable, less allowances of $51.9 and $47.8 at April 1, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$1.10B	USD	Point-in-time
Inventories, net	`InventoryNet`	$519.10M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	88.31M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	88.71M	shares	Point-in-time
Inventories, net	`InventoryNet`	$579.90M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	35.41M	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$6.80M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	35.82M	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$8.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$182.80M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$202.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.90B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.18B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$2.66B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$2.74B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.80B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.75B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$915.20M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$940.30M	USD	Point-in-time
Goodwill	`Goodwill`	$826.40M	USD	Point-in-time
Goodwill	`Goodwill`	$793.60M	USD	Point-in-time
Other intangibles resulting from business acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$83.40M	USD	Point-in-time
Other intangibles resulting from business acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$66.70M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$317.80M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$313.20M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$413.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$402.90M	USD	Point-in-time
Total assets	`Assets`	$4.77B	USD	Point-in-time
Total assets	`Assets`	$4.40B	USD	Point-in-time
Short-term borrowings and current portion of long-term debt and capital leases	`DebtCurrent`	$579.10M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt and capital leases	`DebtCurrent`	$333.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$841.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$906.10M	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$217.40M	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$168.20M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$351.80M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$365.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.76B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.00B	USD	Point-in-time
Long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligations`	$713.40M	USD	Point-in-time
Long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligations`	$1.25B	USD	Point-in-time
Long-term retirement benefits and other liabilities	`LongTermRetirementBenefitsAndOtherLiabilities`	$649.90M	USD	Point-in-time
Long-term retirement benefits and other liabilities	`LongTermRetirementBenefitsAndOtherLiabilities`	$660.90M	USD	Point-in-time
Non-current deferred and payable income taxes	`NonCurrentDeferredAndPayableIncomeTaxes`	$92.30M	USD	Point-in-time
Non-current deferred and payable income taxes	`NonCurrentDeferredAndPayableIncomeTaxes`	$91.90M	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 1, 2017 and December 31, 2016; issued - 124,126,624 shares at April 1, 2017 and December 31, 2016; outstanding - 88,714,837 shares and 88,308,860 shares at April 1, 2017 and December 31, 2016, respectively	`CommonStockValue`	$124.10M	USD	Point-in-time
Common stock, $1 par value per share, authorized - 400,000,000 shares at April 1, 2017 and December 31, 2016; issued - 124,126,624 shares at April 1, 2017 and December 31, 2016; outstanding - 88,714,837 shares and 88,308,860 shares at April 1, 2017 and December 31, 2016, respectively	`CommonStockValue`	$124.10M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$839.20M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$852.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.54B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.47B	USD	Point-in-time
Treasury stock at cost, 35,411,787 shares and 35,817,764 shares at April 1, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$1.77B	USD	Point-in-time
Treasury stock at cost, 35,411,787 shares and 35,817,764 shares at April 1, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$1.77B	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`	$-751.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-712.50M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$925.50M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.01B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$4.77B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$4.40B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.57B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.49B	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.06B	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.13B	USD	1 Quarter
Gross profit	`GrossProfit`	$422.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$442.40M	USD	1 Quarter
Marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$283.30M	USD	1 Quarter
Marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$278.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$16.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$15.30M	USD	1 Quarter
Other expense, net	`OtherExpenseNet`	$5.60M	USD	1 Quarter
Other expense, net	`OtherExpenseNet`	$6.50M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$135.90M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$123.50M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$33.90M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$23.70M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$112.20M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$89.60M	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareBasic`	$1.00	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareBasic`	$1.27	USD	1 Quarter
Net income per common share, assuming dilution (in dollars per share)	`EarningsPerShareDiluted`	$1.25	USD	1 Quarter
Net income per common share, assuming dilution (in dollars per share)	`EarningsPerShareDiluted`	$0.98	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.37	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.41	USD	1 Quarter
Common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.40M	shares	1 Quarter
Common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	89.40M	shares	1 Quarter
Common shares, assuming dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	90.00M	shares	1 Quarter
Common shares, assuming dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	91.10M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$112.20M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$89.60M	USD	1 Quarter
Depreciation	`Depreciation`	$29.00M	USD	1 Quarter
Depreciation	`Depreciation`	$28.80M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$15.30M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$15.80M	USD	1 Quarter
Provision for doubtful accounts and sales returns	`ProvisionForDoubtfulAccounts`	$11.20M	USD	1 Quarter
Provision for doubtful accounts and sales returns	`ProvisionForDoubtfulAccounts`	$11.50M	USD	1 Quarter
Net losses from asset impairments and sales/disposals of assets	`AssetImpairmentGainOnSaleOfProductLineAndNetLossOnSaleDisposalOfAssets`	$700.00K	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`	$5.60M	USD	1 Quarter
Other non-cash expense and loss	`OtherNoncashExpense`	$15.20M	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`	$174.50M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.30M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.30M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.20M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.30M	USD	1 Quarter
Purchases of software and other deferred charges	`PurchaseOfSoftwareAndOtherDeferredCharges`	$2.00M	USD	1 Quarter
Purchases of software and other deferred charges	`PurchaseOfSoftwareAndOtherDeferredCharges`	$6.90M	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	1 Quarter
Purchases of investments, net	`PaymentsForProceedsFromInvestments`	$200.00K	USD	1 Quarter
Purchases of investments, net	`PaymentsForProceedsFromInvestments`	$3.80M	USD	1 Quarter
Payments for acquisitions and equity method investments, net of cash acquired	`PaymentsToAcquireBusinessNetOfCashAcquiredAndEquityMethodInvestments`	$74.60M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-112.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.90M	USD	1 Quarter
Net (decrease) increase in borrowings (maturities of three months or less)	`ProceedsFromRepaymentsOfShortTermDebt`	$-256.80M	USD	1 Quarter
Net (decrease) increase in borrowings (maturities of three months or less)	`ProceedsFromRepaymentsOfShortTermDebt`	$169.40M	USD	1 Quarter
Additional long-term borrowings	`ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet`	$526.70M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$800.00K	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$500.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$36.40M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$33.00M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$34.60M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$95.60M	USD	1 Quarter
Proceeds from exercises of stock options, net	`ProceedsFromStockOptionsExercised`	$16.40M	USD	1 Quarter
Proceeds from exercises of stock options, net	`ProceedsFromStockOptionsExercised`	$16.00M	USD	1 Quarter
Tax withholding for and excess tax benefit from stock-based compensation, net	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$19.80M	USD	1 Quarter
Tax withholding for and excess tax benefit from stock-based compensation, net	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$9.20M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$194.70M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$47.10M	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`	$1.80M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.80M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$99.80M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$169.60M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$158.80M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$294.90M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$195.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`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`	$294.90M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$195.10M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$112.20M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$89.60M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$35.50M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$18.90M	USD	1 Quarter
Pension and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.20M	USD	1 Quarter
Pension and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.70M	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-800.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-1.30M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$21.80M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$39.40M	USD	1 Quarter
Total comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$151.60M	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.