10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001193125-21-150034 |
| Period End Date | 20210331 |
| Filing Date | 20210504 |
| Fiscal Year | 2021 |
| Fiscal Period | Q1 |
| XBRL Instance | d65194d10q_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
69 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Trade accounts receivable, allowances (in dollars) |
AllowanceForDoubtfulAccountsReceivableCurrent
|
$44.60M | USD | Point-in-time |
| Trade accounts receivable, allowances (in dollars) |
AllowanceForDoubtfulAccountsReceivableCurrent
|
$40.70M | 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
|
$742.00M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$253.70M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$252.30M | USD | Point-in-time |
| Common stock, authorized shares |
CommonStockSharesAuthorized
|
400.00M | shares | Point-in-time |
| Common stock, authorized shares |
CommonStockSharesAuthorized
|
400.00M | shares | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$328.00M | USD | Point-in-time |
| Trade accounts receivable, less allowances of $40.7 and $44.6 at April 3, 2021 and January 2, 2021, respectively |
AccountsReceivableNetCurrent
|
$1.30B | 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 $40.7 and $44.6 at April 3, 2021 and January 2, 2021, respectively |
AccountsReceivableNetCurrent
|
$1.24B | USD | Point-in-time |
| Common stock, outstanding shares |
CommonStockSharesOutstanding
|
83.15M | shares | Point-in-time |
| Inventories, net |
InventoryNet
|
$786.70M | USD | Point-in-time |
| Common stock, outstanding shares |
CommonStockSharesOutstanding
|
83.06M | shares | Point-in-time |
| Inventories, net |
InventoryNet
|
$717.20M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$211.50M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$216.30M | USD | Point-in-time |
| Treasury stock, shares |
TreasuryStockCommonShares
|
40.98M | shares | Point-in-time |
| Treasury stock, shares |
TreasuryStockCommonShares
|
41.07M | shares | Point-in-time |
| Total current assets |
AssetsCurrent
|
$2.42B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$2.63B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.34B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.33B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$1.14B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$1.14B | USD | Point-in-time |
| Other intangibles resulting from business acquisitions, net |
IntangibleAssetsNetExcludingGoodwill
|
$221.90M | USD | Point-in-time |
| Other intangibles resulting from business acquisitions, net |
IntangibleAssetsNetExcludingGoodwill
|
$224.90M | USD | Point-in-time |
| Deferred tax assets |
DeferredIncomeTaxAssetsNet
|
$201.40M | USD | Point-in-time |
| Deferred tax assets |
DeferredIncomeTaxAssetsNet
|
$197.70M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$765.00M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$746.90M | USD | Point-in-time |
| Total assets |
Assets
|
$6.27B | USD | Point-in-time |
| Total assets |
Assets
|
$6.08B | USD | Point-in-time |
| Short-term borrowings and current portion of long-term debt and finance leases |
DebtCurrent
|
$64.70M | USD | Point-in-time |
| Short-term borrowings and current portion of long-term debt and finance leases |
DebtCurrent
|
$116.90M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.05B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.18B | USD | Point-in-time |
| Accrued payroll and employee benefits |
EmployeeRelatedLiabilitiesCurrent
|
$239.00M | USD | Point-in-time |
| Accrued payroll and employee benefits |
EmployeeRelatedLiabilitiesCurrent
|
$214.00M | USD | Point-in-time |
| Other current liabilities |
OtherAccruedLiabilitiesCurrent
|
$571.40M | USD | Point-in-time |
| Other current liabilities |
OtherAccruedLiabilitiesCurrent
|
$549.60M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$2.06B | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$1.93B | USD | Point-in-time |
| Long-term debt and finance leases |
LongTermDebtAndCapitalLeaseObligations
|
$2.05B | USD | Point-in-time |
| Long-term debt and finance leases |
LongTermDebtAndCapitalLeaseObligations
|
$2.03B | USD | Point-in-time |
| Long-term retirement benefits and other liabilities |
LongTermRetirementBenefitsAndOtherLiabilities
|
$493.10M | USD | Point-in-time |
| Long-term retirement benefits and other liabilities |
LongTermRetirementBenefitsAndOtherLiabilities
|
$503.60M | USD | Point-in-time |
| Deferred tax liabilities and income taxes payable |
NonCurrentDeferredAndPayableIncomeTaxes
|
$113.80M | USD | Point-in-time |
| Deferred tax liabilities and income taxes payable |
NonCurrentDeferredAndPayableIncomeTaxes
|
$117.30M | USD | Point-in-time |
| Commitments and contingencies (see Note 12) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies (see Note 12) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Common stock, $1 par value per share, authorized - 400,000,000 shares at April 3, 2021 and January 2, 2021; issued - 124,126,624 shares at April 3, 2021 and January 2, 2021; outstanding - 83,056,656 shares and 83,151,174 shares at April 3, 2021 and January 2, 2021, respectively |
CommonStockValue
|
$124.10M | USD | Point-in-time |
| Common stock, $1 par value per share, authorized - 400,000,000 shares at April 3, 2021 and January 2, 2021; issued - 124,126,624 shares at April 3, 2021 and January 2, 2021; outstanding - 83,056,656 shares and 83,151,174 shares at April 3, 2021 and January 2, 2021, respectively |
CommonStockValue
|
$124.10M | USD | Point-in-time |
| Common stock, $1 par value per share, authorized - 400,000,000 shares at April 3, 2021 and January 2, 2021; issued - 124,126,624 shares at April 3, 2021 and January 2, 2021; outstanding - 83,056,656 shares and 83,151,174 shares at April 3, 2021 and January 2, 2021, respectively |
CommonStockValue
|
$124.10M | USD | Point-in-time |
| Capital in excess of par value |
AdditionalPaidInCapitalCommonStock
|
$862.10M | USD | Point-in-time |
| Capital in excess of par value |
AdditionalPaidInCapitalCommonStock
|
$845.80M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$3.35B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$3.50B | USD | Point-in-time |
| Treasury stock at cost, 41,069,968 shares and 40,975,450 shares at April 3, 2021 and January 2, 2021, respectively |
TreasuryStockCommonValue
|
$2.50B | USD | Point-in-time |
| Treasury stock at cost, 41,069,968 shares and 40,975,450 shares at April 3, 2021 and January 2, 2021, respectively |
TreasuryStockCommonValue
|
$2.55B | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-346.10M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-349.60M | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquity
|
$1.48B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquity
|
$1.58B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$6.08B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$6.27B | USD | Point-in-time |
Income Statement
30 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net sales |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$1.72B | USD | 1 Quarter |
| Net sales |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$2.05B | USD | 1 Quarter |
| Cost of products sold |
CostOfGoodsAndServicesSold
|
$1.24B | USD | 1 Quarter |
| Cost of products sold |
CostOfGoodsAndServicesSold
|
$1.45B | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$485.10M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$597.00M | USD | 1 Quarter |
| Marketing, general and administrative expense |
SellingGeneralAndAdministrativeExpense
|
$312.30M | USD | 1 Quarter |
| Marketing, general and administrative expense |
SellingGeneralAndAdministrativeExpense
|
$281.00M | USD | 1 Quarter |
| Other expense (income), net |
OtherExpenseIncomeNet
|
$900.00K | USD | 1 Quarter |
| Other expense (income), net |
OtherExpenseIncomeNet
|
$4.90M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$18.80M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$16.20M | USD | 1 Quarter |
| Other non-operating expense (income), net |
OtherNonoperatingIncomeExpense
|
$500.00K | USD | 1 Quarter |
| Other non-operating expense (income), net |
OtherNonoperatingIncomeExpense
|
$1.30M | USD | 1 Quarter |
| Income before taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$180.90M | USD | 1 Quarter |
| Income before taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$268.90M | USD | 1 Quarter |
| Provision for (benefit from) income taxes |
IncomeTaxExpenseBenefit
|
$46.30M | USD | 1 Quarter |
| Provision for (benefit from) income taxes |
IncomeTaxExpenseBenefit
|
$58.10M | USD | 1 Quarter |
| Equity method investment (losses) gains |
IncomeLossFromEquityMethodInvestments
|
$-400.00K | USD | 1 Quarter |
| Equity method investment (losses) gains |
IncomeLossFromEquityMethodInvestments
|
$-1.30M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$209.50M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$134.20M | USD | 1 Quarter |
| Net income per common share (in dollars per share) |
EarningsPerShareBasic
|
$1.61 | USD | 1 Quarter |
| Net income per common share (in dollars per share) |
EarningsPerShareBasic
|
$2.52 | USD | 1 Quarter |
| Net income per common share, assuming dilution (in dollars per share) |
EarningsPerShareDiluted
|
$1.60 | USD | 1 Quarter |
| Net income per common share, assuming dilution (in dollars per share) |
EarningsPerShareDiluted
|
$2.50 | USD | 1 Quarter |
| Common shares (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
83.10M | shares | 1 Quarter |
| Common shares (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
83.30M | shares | 1 Quarter |
| Common shares, assuming dilution (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
83.90M | shares | 1 Quarter |
| Common shares, assuming dilution (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
84.10M | shares | 1 Quarter |
Cash Flow Statement
57 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$209.50M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$134.20M | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$40.00M | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$36.80M | USD | 1 Quarter |
| Amortization |
AdjustmentForAmortization
|
$14.40M | USD | 1 Quarter |
| Amortization |
AdjustmentForAmortization
|
$10.70M | USD | 1 Quarter |
| Provision for credit losses and sales returns |
ProvisionForDoubtfulAccounts
|
$8.90M | USD | 1 Quarter |
| Provision for credit losses and sales returns |
ProvisionForDoubtfulAccounts
|
$31.20M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$6.30M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$9.90M | USD | 1 Quarter |
| Pension plan settlement loss |
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
|
$-400.00K | USD | 1 Quarter |
| Deferred taxes and other non-cash taxes |
NoncashIncomeTaxes
|
$6.40M | USD | 1 Quarter |
| Deferred taxes and other non-cash taxes |
NoncashIncomeTaxes
|
$1.50M | USD | 1 Quarter |
| Other non-cash expense and loss (income and gain), net |
OtherNoncashIncomeExpense
|
$-4.40M | USD | 1 Quarter |
| Other non-cash expense and loss (income and gain), net |
OtherNoncashIncomeExpense
|
$-2.70M | USD | 1 Quarter |
| Changes in assets and liabilities and other adjustments |
IncreaseDecreaseInOperatingCapital
|
$225.60M | USD | 1 Quarter |
| Changes in assets and liabilities and other adjustments |
IncreaseDecreaseInOperatingCapital
|
$78.00M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$4.40M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$209.30M | USD | 1 Quarter |
| Purchases of property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$33.20M | USD | 1 Quarter |
| Purchases of property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$25.20M | USD | 1 Quarter |
| Purchases of software and other deferred charges |
PurchaseOfSoftwareAndOtherDeferredCharges
|
$2.30M | USD | 1 Quarter |
| Purchases of software and other deferred charges |
PurchaseOfSoftwareAndOtherDeferredCharges
|
$6.20M | USD | 1 Quarter |
| Proceeds from sales of property, plant and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$700.00K | USD | 1 Quarter |
| Proceeds from insurance and sales (purchases) of investments, net |
PaymentsForProceedsFromInvestments
|
$300.00K | USD | 1 Quarter |
| Proceeds from insurance and sales (purchases) of investments, net |
PaymentsForProceedsFromInvestments
|
$500.00K | USD | 1 Quarter |
| Proceeds from sale of product line |
ProceedsFromDivestitureOfBusinesses
|
$6.70M | USD | 1 Quarter |
| Payments for acquisitions, net of cash acquired, and investments in businesses |
PaymentsToAcquireBusinessNetOfCashAcquiredAndEquityMethodInvestments
|
$245.90M | USD | 1 Quarter |
| Payments for acquisitions, net of cash acquired, and investments in businesses |
PaymentsToAcquireBusinessNetOfCashAcquiredAndEquityMethodInvestments
|
$30.60M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-285.60M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-51.20M | USD | 1 Quarter |
| Net increase (decrease) in borrowings (maturities of three months or less) |
ProceedsFromRepaymentsOfShortTermDebt
|
$53.80M | USD | 1 Quarter |
| Net increase (decrease) in borrowings (maturities of three months or less) |
ProceedsFromRepaymentsOfShortTermDebt
|
$-106.00M | USD | 1 Quarter |
| Additional borrowings under revolving credit facility |
ProceedsFromRevolvingLinesOfCredit
|
$500.00M | USD | 1 Quarter |
| Additional long-term borrowings |
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
|
$494.40M | USD | 1 Quarter |
| Repayments of long-term debt and finance leases |
RepaymentsOfLongTermDebtAndCapitalSecurities
|
$1.50M | USD | 1 Quarter |
| Repayments of long-term debt and finance leases |
RepaymentsOfLongTermDebtAndCapitalSecurities
|
$1.10M | USD | 1 Quarter |
| Dividends paid |
PaymentsOfDividendsCommonStock
|
$48.40M | USD | 1 Quarter |
| Dividends paid |
PaymentsOfDividendsCommonStock
|
$51.60M | USD | 1 Quarter |
| Share repurchases |
PaymentsForRepurchaseOfCommonStock
|
$55.60M | USD | 1 Quarter |
| Share repurchases |
PaymentsForRepurchaseOfCommonStock
|
$45.20M | USD | 1 Quarter |
| Net (tax withholding) proceeds related to stock-based compensation |
ProceedsTaxWithholdingRelatedToStockBasedCompensation
|
$-20.00M | USD | 1 Quarter |
| Net (tax withholding) proceeds related to stock-based compensation |
ProceedsTaxWithholdingRelatedToStockBasedCompensation
|
$-25.30M | USD | 1 Quarter |
| Net cash (used in) provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$773.70M | USD | 1 Quarter |
| Net cash (used in) provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-80.20M | USD | 1 Quarter |
| Effect of foreign currency translation on cash balances |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$-2.20M | USD | 1 Quarter |
| Effect of foreign currency translation on cash balances |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$-4.20M | USD | 1 Quarter |
| Increase (decrease) in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$488.30M | USD | 1 Quarter |
| Increase (decrease) in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$75.70M | USD | 1 Quarter |
| Cash and cash equivalents, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$742.00M | USD | Point-in-time |
| Cash and cash equivalents, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$253.70M | USD | Point-in-time |
| Cash and cash equivalents, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$252.30M | USD | Point-in-time |
| Cash and cash equivalents, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$328.00M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$742.00M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$253.70M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$252.30M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$328.00M | USD | Point-in-time |
Comprehensive Income
12 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
NetIncomeLoss
|
$209.50M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$134.20M | USD | 1 Quarter |
| Foreign currency translation |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$-68.60M | USD | 1 Quarter |
| Foreign currency translation |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$7.60M | USD | 1 Quarter |
| Pension and other postretirement benefits |
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
$-1.20M | USD | 1 Quarter |
| Pension and other postretirement benefits |
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
$-600.00K | USD | 1 Quarter |
| Cash flow hedges |
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
$-5.30M | USD | 1 Quarter |
| Cash flow hedges |
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
$4.10M | USD | 1 Quarter |
| Other comprehensive income (loss), net of tax |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
$3.50M | USD | 1 Quarter |
| Other comprehensive income (loss), net of tax |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
$-63.90M | USD | 1 Quarter |
| Total comprehensive income, net of tax |
ComprehensiveIncomeNetOfTax
|
$70.30M | USD | 1 Quarter |
| Total comprehensive income, net of tax |
ComprehensiveIncomeNetOfTax
|
$213.00M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.