Avery Dennison Corporation
(NYSE:AVY)

Avery Dennison Corporation manufactures and markets pressure-sensitive materials in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products und...

Website: http://www.averydennison.com

Founded: 1935

Full Time Employees: 27,950

Sector: Industrials

Industry: Business Equipment & Supplies

Industrials

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Quarterly

Annual

Unit: USD	2025-12-31	2025-09-27	2025-06-28	2025-03-29	2024-12-28	2024-09-28	2024-06-29	2024-03-30	2023-12-30	2023-09-30	2023-07-01	2023-04-01	2022-12-31	2022-10-01	2022-07-02	2022-04-02	2022-01-01	2021-10-02	2021-07-03	2021-04-03	2021-01-02	2020-09-26	2020-06-27	2020-03-28	2019-12-28	2019-09-28	2019-06-29	2019-03-30	2018-09-29	2018-06-30	2018-03-31	2017-09-30	2017-07-01	2017-04-01	2016-10-01	2016-07-02	2016-04-02	2015-10-03	2015-07-04	2015-04-04	2014-09-27	2014-06-28	2014-03-29	2013-09-28	2013-06-29	2013-03-30	2012-09-29	2012-06-30	2012-03-31	2011-12-31	2011-10-01	2011-07-02	2011-04-02	2010-10-02	2010-07-03	2010-04-03	2009-10-03	2009-07-04	2009-04-04	2008-09-27	2008-06-28	2008-03-29	2007-09-29	2007-06-30	2007-03-31	2006-09-30	2006-07-01	2006-04-01	2005-10-01	2005-07-02	2005-04-02	2004-09-25	2004-06-26	2004-03-27	2003-12-27	2003-09-27	2003-06-28	2003-03-29	2002-09-28

net sales	2,271,200,000	2,215,500,000	2,220,500,000	2,148,300,000	2,185,700,000	2,183,400,000	2,235,300,000	2,151,300,000	2,110,500,000	2,098,300,000	2,090,500,000	2,065,000,000	2,025,900,000	2,317,100,000	2,347,000,000	2,349,300,000	2,183,200,000	2,071,800,000	2,102,000,000	2,051,300,000	1,990,900,000	1,729,100,000	1,528,500,000	1,723,000,000	1,772,900,000	1,761,400,000	1,795,700,000	1,740,100,000	1,759,700,000	1,854,200,000	1,776,400,000	1,679,500,000	1,626,900,000	1,572,100,000	1,508,700,000	1,541,500,000	1,485,500,000	1,468,100,000	1,516,000,000	1,528,000,000	1,559,600,000	1,615,800,000	1,550,100,000	1,504,900,000	1,552,300,000	1,498,900,000	1,487,800,000	1,532,300,000	1,483,300,000	941,700,000	1,699,600,000	1,725,700,000	1,659,300,000	1,640,800,000	1,680,100,000	1,554,700,000	1,549,300,000	1,455,400,000	1,426,200,000	1,724,800,000	1,828,900,000	1,645,200,000	1,680,400,000	1,523,500,000	1,389,900,000	1,417,600,000	1,409,700,000	1,337,200,000	1,362,500,000	1,418,600,000	1,346,300,000	1,336,200,000	1,324,000,000	1,246,700,000	1,231,100,000	1,204,100,000	1,192,200,000	1,150,600,000	1,114,500,000
yoy	3.91%	1.47%	-0.66%	-0.14%	3.56%	4.06%	6.93%	4.18%	4.18%	-9.44%	-10.93%	-12.10%	-7.21%	11.84%	11.66%	14.53%	9.66%	19.82%	37.52%	19.05%	12.30%	-1.83%	-14.88%	-0.98%	0.75%	-5.00%	1.09%	3.61%	8.16%	17.94%	17.74%	8.95%	9.52%	7.08%	-0.48%	0.88%	-4.75%	-9.14%	-2.20%	1.53%	0.47%	7.80%	4.19%	-1.79%	4.65%	59.17%	-12.46%	-11.21%	-10.61%	-42.61%	1.16%	11.00%	7.10%	12.74%	17.80%	-9.86%	-15.29%	-11.54%	-15.13%	13.21%	31.59%	16.06%	19.20%	13.93%	2.01%	-0.07%	4.71%	0.07%	2.91%	13.79%	9.36%	10.97%	11.06%	8.35%	10.46%
qoq	2.51%	-0.23%	3.36%	-1.71%	0.11%	-2.32%	3.90%	1.93%	0.58%	0.37%	1.23%	1.93%	-12.57%	-1.27%	-0.10%	7.61%	5.38%	-1.44%	2.47%	3.03%	15.14%	13.12%	-11.29%	-2.81%	0.65%	-1.91%	3.20%	-1.11%	-5.10%	4.38%	5.77%	3.23%	3.49%	4.20%	-2.13%	3.77%	1.19%	-3.16%	-0.79%	-2.03%	-3.48%	4.24%	3.00%	-3.05%	3.56%	0.75%	-2.90%	3.30%	57.51%	-44.59%	-1.51%	4.00%	1.13%	-2.34%	8.07%	0.35%	6.45%	2.05%	-17.31%	-5.69%	11.17%	-2.09%	10.30%	9.61%	-1.95%	0.56%	5.42%	-1.86%	-3.95%	5.37%	0.76%	0.92%	6.20%	1.27%	2.24%	1.00%	3.62%	3.24%
cost of products sold	1,620,500,000	1,580,500,000	1,581,400,000	1,526,800,000	1,576,500,000	1,556,800,000	1,572,600,000	1,519,100,000	1,514,500,000	1,512,500,000	1,537,100,000	1,522,700,000	1,525,700,000	1,697,900,000	1,703,500,000	1,708,000,000	1,598,100,000	1,517,400,000	1,525,700,000	1,454,300,000	907,100,000	1,244,900,000	1,145,600,000	1,237,900,000	1,288,200,000	1,289,700,000	1,313,400,000	1,274,700,000	1,300,500,000	1,352,800,000	1,293,000,000	1,227,900,000	1,174,300,000	1,129,700,000	1,091,100,000	1,107,400,000	1,062,900,000	1,062,200,000	1,098,400,000	1,098,000,000	1,158,900,000	1,187,600,000	1,142,900,000	1,102,700,000	1,134,800,000	1,097,200,000	1,095,800,000	1,132,500,000	1,095,700,000	781,300,000	1,263,900,000	1,254,800,000	1,204,900,000	1,187,800,000	1,189,700,000	1,113,900,000	1,113,300,000	1,065,100,000	1,081,100,000	1,290,500,000	1,338,600,000	1,221,200,000	1,214,800,000	1,113,700,000	1,025,500,000	1,026,900,000	1,016,700,000	982,000,000	966,500,000	992,600,000	958,500,000	946,800,000	933,400,000	880,200,000	858,400,000	848,600,000	820,800,000	786,500,000	761,300,000
gross profit	650,700,000	635,000,000	639,100,000	621,500,000	609,200,000	626,600,000	662,700,000	632,200,000	596,000,000	585,800,000	553,400,000	542,300,000	500,200,000	619,200,000	643,500,000	641,300,000	585,100,000	554,400,000	576,300,000	597,000,000	571,100,000	484,200,000	382,900,000	485,100,000	484,700,000	471,700,000	482,300,000	465,400,000	459,200,000	501,400,000	483,400,000	451,600,000	452,600,000	442,400,000	417,600,000	434,100,000	422,600,000	405,900,000	417,600,000	430,000,000	400,700,000	428,200,000	407,200,000	402,200,000	417,500,000	401,700,000	392,000,000	399,800,000	387,600,000	160,400,000	435,700,000	470,900,000	454,400,000	453,000,000	490,400,000	440,800,000	436,000,000	390,300,000	345,100,000	434,300,000	490,300,000	424,000,000	465,600,000	409,800,000	364,400,000	390,700,000	393,000,000	355,200,000	396,000,000	426,000,000	387,800,000	389,400,000	390,600,000	366,500,000	372,700,000	355,500,000	371,400,000	364,100,000	353,200,000
yoy	6.81%	1.34%	-3.56%	-1.69%	2.21%	6.96%	19.75%	16.58%	19.15%	-5.39%	-14.00%	-15.44%	-14.51%	11.69%	11.66%	7.42%	2.45%	14.50%	50.51%	23.07%	17.83%	2.65%	-20.61%	4.23%	5.55%	-5.92%	-0.23%	3.06%	1.46%	13.34%	15.76%	4.03%	7.10%	8.99%	0.00%	0.95%	5.47%	-5.21%	2.55%	6.91%	-4.02%	6.60%	3.88%	0.60%	7.71%	150.44%	-10.03%	-15.10%	-14.70%	-64.59%	-11.15%	6.83%	4.22%	16.06%	42.10%	1.50%	-11.07%	-7.95%	-25.88%	5.98%	34.55%	8.52%	18.47%	15.37%	-7.98%	-8.29%	1.34%	-8.78%	1.38%	16.23%	4.05%	9.54%	5.17%	0.66%	5.52%
qoq	2.47%	-0.64%	2.83%	2.02%	-2.78%	-5.45%	4.82%	6.07%	1.74%	5.85%	2.05%	8.42%	-19.22%	-3.78%	0.34%	9.61%	5.54%	-3.80%	-3.47%	4.54%	17.95%	26.46%	-21.07%	0.08%	2.76%	-2.20%	3.63%	1.35%	-8.42%	3.72%	7.04%	-0.22%	2.31%	5.94%	-3.80%	2.72%	4.11%	-2.80%	-2.88%	7.31%	-6.42%	5.16%	1.24%	-3.66%	3.93%	2.47%	-1.95%	3.15%	141.65%	-63.19%	-7.48%	3.63%	0.31%	-7.63%	11.25%	1.10%	11.71%	13.10%	-20.54%	-11.42%	15.64%	-8.93%	13.62%	12.46%	-6.73%	-0.59%	10.64%	-10.30%	-7.04%	9.85%	-0.41%	-0.31%	6.58%	-1.66%	4.84%	-4.28%	2.00%	3.09%
gross margin %	28.65%	28.66%	28.78%	28.93%	27.87%	28.70%	29.65%	29.39%	28.24%	27.92%	26.47%	26.26%	24.69%	26.72%	27.42%	27.30%	26.80%	26.76%	27.42%	29.10%	28.69%	28.00%	25.05%	28.15%	27.34%	26.78%	26.86%	26.75%	26.10%	27.04%	27.21%	26.89%	27.82%	28.14%	27.68%	28.16%	28.45%	27.65%	27.55%	28.14%	25.69%	26.50%	26.27%	26.73%	26.90%	26.80%	26.35%	26.09%	26.13%	17.03%	25.64%	27.29%	27.39%	27.61%	29.19%	28.35%	28.14%	26.82%	24.20%	25.18%	26.81%	25.77%	27.71%	26.90%	26.22%	27.56%	27.88%	26.56%	29.06%	30.03%	28.80%	29.14%	29.50%	29.40%	30.27%	29.52%	31.15%	31.64%	31.69%
marketing, general and administrative expense	369,200,000	353,900,000	352,400,000	347,000,000	329,300,000	346,900,000	373,900,000	365,200,000	327,100,000	332,600,000	319,600,000	334,400,000	312,300,000	330,800,000	332,700,000	355,000,000	332,300,000	296,900,000	307,000,000	312,300,000	301,800,000	258,300,000	219,400,000	281,000,000	273,100,000	265,300,000	265,700,000	276,300,000	270,500,000	287,500,000	295,000,000	277,200,000	276,700,000	283,300,000	270,300,000	269,200,000	278,200,000	268,100,000	273,800,000	300,900,000	276,300,000	297,000,000	296,700,000	285,700,000	293,500,000	300,900,000	293,900,000	292,700,000	296,500,000	150,000,000	326,400,000	330,000,000	364,500,000	346,400,000	338,900,000	340,100,000	323,100,000	300,100,000	304,200,000	325,500,000	341,000,000	328,000,000	330,400,000	270,800,000	248,300,000	252,600,000	251,300,000	244,800,000	266,900,000	292,500,000	292,000,000	273,100,000	274,300,000	257,900,000	269,000,000	253,300,000	265,500,000	249,500,000	239,500,000
other expense	40,400,000	16,700,000	500,000	19,900,000	16,700,000	15,300,000	27,000,000	12,600,000	48,500,000	46,300,000	68,300,000	17,800,000	1,500,000	-3,900,000	3,400,000	-1,600,000	-10,700,000	16,000,000	-600,000	900,000	-3,700,000	12,400,000	40,000,000	4,900,000	31,500,000	6,700,000	7,500,000	7,500,000		57,100,000	12,800,000	10,800,000	10,200,000	6,500,000	4,600,000	50,200,000	5,600,000	7,000,000	27,700,000	14,300,000	7,800,000			25,700,000		7,500,000	21,900,000	11,500,000	7,700,000	9,100,000	20,500,000
interest expense	37,200,000	33,300,000	34,000,000	30,900,000	29,200,000	30,000,000	29,200,000	28,600,000	29,700,000	31,000,000	31,900,000	26,400,000	22,500,000	21,200,000	20,800,000	19,600,000	20,000,000	18,000,000	16,000,000	16,200,000	15,600,000	15,600,000	20,000,000	18,800,000	17,800,000	19,000,000	19,500,000	19,500,000	14,700,000	14,300,000	13,200,000	16,800,000	16,200,000	16,700,000	14,700,000	15,400,000	15,300,000	14,700,000	15,300,000	15,300,000	15,400,000	15,600,000	15,400,000	16,000,000	14,800,000	12,200,000	18,000,000	18,600,000	18,300,000	17,500,000	17,900,000	17,700,000	17,900,000	19,100,000	21,100,000	17,500,000	19,100,000	20,400,000	27,500,000	29,000,000	29,300,000	29,500,000	35,700,000	20,100,000	15,100,000	14,100,000	13,600,000	14,500,000	14,700,000	15,800,000	14,500,000	13,800,000	13,800,000	14,700,000	14,400,000	13,900,000	14,500,000	14,900,000	11,800,000
other non-operating expense	-3,900,000	-3,700,000	-3,300,000	-3,300,000	-7,400,000	-4,900,000	-5,800,000	-8,600,000	-10,900,000	-8,700,000	-6,600,000	-4,600,000	-5,300,000	-1,400,000	-1,300,000	-1,400,000	-500,000	-900,000	-1,400,000	-1,300,000	2,100,000	100,000	200,000	-500,000	-3,000,000	800,000	900,000	446,500,000	9,000,000	2,600,000	3,300,000
income before taxes	207,800,000	234,800,000	255,500,000	227,000,000	241,400,000	239,300,000	238,400,000	234,400,000	201,600,000	184,600,000	140,200,000	168,300,000	169,200,000	272,500,000	287,900,000	269,700,000	244,000,000	224,400,000	255,300,000	268,900,000	255,300,000	197,800,000	103,300,000	180,900,000	165,300,000	179,900,000	188,700,000		168,000,000	139,900,000	159,100,000	146,800,000	149,500,000	135,900,000			123,500,000													62,275,000	70,900,000	110,800,000	67,400,000	77,000,000	125,800,000	76,900,000	58,300,000	40,200,000	-915,900,000	67,300,000	114,200,000	60,900,000							113,100,000	115,600,000	78,000,000							99,700,000	86,700,000
provision for income taxes	41,400,000	68,500,000	66,500,000	60,700,000	67,400,000	57,600,000	61,600,000	62,000,000	58,500,000	46,300,000	39,800,000	47,100,000	46,300,000	51,000,000	73,400,000	71,500,000	60,900,000	59,200,000	70,400,000	58,100,000	62,900,000	46,300,000	22,200,000	46,300,000	2,200,000	34,600,000	44,900,000		17,700,000	43,900,000	33,300,000	38,500,000	28,600,000	23,700,000	38,900,000	19,300,000	33,900,000	34,800,000	36,500,000	27,900,000	36,200,000	32,700,000		12,800,000	38,700,000	14,300,000	20,100,000	25,700,000	18,800,000	-2,700,000	21,100,000
net income	166,400,000	166,300,000	189,000,000	166,300,000	174,000,000	181,700,000	176,800,000	172,400,000	143,100,000	138,300,000	100,400,000	121,200,000	122,900,000	221,500,000	214,500,000	198,200,000	182,700,000	164,100,000	183,800,000	209,500,000	191,500,000	150,500,000	79,700,000	134,200,000	162,500,000	144,600,000	143,400,000	-146,900,000	149,500,000	95,600,000	125,200,000	108,300,000	120,900,000	112,200,000	89,100,000	80,000,000	89,600,000	81,700,000	63,300,000	71,600,000	64,300,000	42,500,000	71,200,000	46,500,000	68,800,000	57,800,000	58,300,000	64,200,000	43,900,000	22,200,000	49,800,000	73,300,000	44,800,000	64,200,000	83,800,000	54,700,000	62,500,000	39,800,000	-898,900,000	62,700,000	92,400,000	68,400,000	58,400,000	85,800,000	79,200,000	85,000,000	112,000,000	68,700,000	86,200,000	89,400,000	57,700,000	75,000,000	68,500,000	52,600,000	59,300,000	66,500,000	71,300,000	70,800,000	63,100,000
yoy	-4.37%	-8.48%	6.90%	-3.54%	21.59%	31.38%	76.10%	42.24%	16.44%	-37.56%	-53.19%	-38.85%	-32.73%	34.98%	16.70%	-5.39%	-4.60%	9.04%	130.61%	56.11%	17.85%	4.08%	-44.42%	-191.35%	8.70%	51.26%	14.54%	-235.64%	23.66%	-14.80%	40.52%	35.38%	34.93%	37.33%	40.76%	11.73%	39.35%	92.24%	-11.10%	53.98%	-6.54%	-26.47%	22.13%	-27.57%	56.72%	160.36%	17.07%	-12.41%	-2.01%	-65.42%	-40.57%	34.00%	-28.32%	61.31%	-109.32%	-12.76%	-32.36%	-41.81%	-1639.21%	-26.92%	16.67%	-19.53%	-47.86%	24.89%	-8.12%	-4.92%	94.11%	-8.40%	25.84%	69.96%	-2.70%	12.78%	-3.93%	-25.71%	-6.02%
qoq	0.06%	-12.01%	13.65%	-4.43%	-4.24%	2.77%	2.55%	20.48%	3.47%	37.75%	-17.16%	-1.38%	-44.51%	3.26%	8.22%	8.48%	11.33%	-10.72%	-12.27%	9.40%	27.24%	88.83%	-40.61%	-17.42%	12.38%	0.84%	-197.62%	-198.26%	56.38%	-23.64%	15.60%	-10.42%	7.75%	25.93%	11.38%	-10.71%	9.67%	29.07%	-11.59%	11.35%	51.29%	-40.31%	53.12%	-32.41%	19.03%	-0.86%	-9.19%	46.24%	97.75%	-55.42%	-32.06%	63.62%	-30.22%	-23.39%	53.20%	-12.48%	57.04%	-104.43%	-1533.65%	-32.14%	35.09%	17.12%	-31.93%	8.33%	-6.82%	-24.11%	63.03%	-20.30%	-3.58%	54.94%	-23.07%	9.49%	30.23%	-11.30%	-10.83%	-6.73%	0.71%	12.20%
net income margin %	7.33%	7.51%	8.51%	7.74%	7.96%	8.32%	7.91%	8.01%	6.78%	6.59%	4.80%	5.87%	6.07%	9.56%	9.14%	8.44%	8.37%	7.92%	8.74%	10.21%	9.62%	8.70%	5.21%	7.79%	9.17%	8.21%	7.99%	-8.44%	8.50%	5.16%	7.05%	6.45%	7.43%	7.14%	5.91%	5.19%	6.03%	5.57%	4.18%	4.69%	4.12%	2.63%	4.59%	3.09%	4.43%	3.86%	3.92%	4.19%	2.96%	2.36%	2.93%	4.25%	2.70%	3.91%	4.99%	3.52%	4.03%	2.73%	-63.03%	3.64%	5.05%	4.16%	3.48%	5.63%	5.70%	6.00%	7.94%	5.14%	6.33%	6.30%	4.29%	5.61%	5.17%	4.22%	4.82%	5.52%	5.98%	6.15%	5.66%
per share amounts:
net income per common share	2.17	2.13	2.42	2.1	2.17	2.26	2.19	2.14	1.77	1.72	1.24	1.5	1.53	2.73	2.63	2.41	2.21	1.98	2.21	2.52	2.3	1.8	0.96	1.61	1.93	1.72	1.7	-1.74	1.71	1.09	1.42	1.23	1.37	1.27	1	0.9	1	0.89	0.69	0.79	0.69	0.45	0.74	0.47	0.69	0.58	0.58	0.62	0.42	0.21	0.47	0.69	0.43	0.61	0.79	0.52	0.59	0.38	-8.99	0.64	0.94	0.7	0.59	0.88	0.81	0.85	1.12	0.69	0.86	0.89	0.58	0.75	0.69	0.53				0.71	0.64
net income per common share, assuming dilution	2.15	2.13	2.41	2.09	2.17	2.25	2.18	2.13	1.77	1.71	1.24	1.49	1.51	2.7	2.61	2.39	2.19	1.96	2.19	2.5	2.27	1.79	0.95	1.6	1.91	1.71	1.69	-1.74	1.69	1.07	1.4	1.2	1.34	1.25	0.98	0.88	0.98	0.88	0.68	0.77	0.68	0.44	0.73	0.47	0.68	0.57	0.57	0.62	0.41	0.21	0.47	0.69	0.42	0.6	0.78	0.51	0.59	0.38	-8.99	0.63	0.93	0.69	0.59	0.87	0.8	0.85	1.12	0.69	0.86	0.89	0.57	0.75	0.68	0.52				0.71	0.64
weighted-average number of shares outstanding:
common shares	-0.4	77.9	78.2	79.2	-0.1	80.5	80.6	80.5		80.6	80.7	80.9	-0.2	81.2	81.7	82.4	-0.1	82.9	83	83.1	20.85	83.5	83.4	83.3	-0.2	84	84.3	84.3	87.3	87.9	88	88.3	88.5	88.4	89.1	89.1	89.4	91.5	91.2	90.6	93.3	94.9	96.1	97.9	99.3	100.1	101.1	103.4	105.7	0.1	106	105.7	105.4	105.8	105.6	105.4	105.1	105	100	98.5	98.5	98.4	98.3	98	98	100.1	100	99.8	100.2	100.2	100.1	99.9	99.9	99.7	24.85	99.4	99.4	99.3	98.5
common shares, assuming dilution	-0.3	78	78.3	79.4	-0.2	80.8	81	81	-0.1	81	81	81.5	-0.2	81.9	82.1	83	-0.1	83.7	83.8	83.9	21	84	83.8	84.1	-0.1	84.8	85.1	84.3	88.5	89	89.6	89.9	89.9	90	90.6	90.7	91.1	93.2	93	92.4	95.2	96.7	98	99.6	100.8	101.5	102.2	104.3	106.2	0.1	106.6	106.9	107	107.1	106.8	106.4	106	105.7	100	98.9	98.9	98.6	98.9	98.7	98.8	100.5	100.4	100.1	100.6	100.6	100.7	100.6	100.5	100.3	25.025	100	100.1	100	99.3
equity method investment gains																	-400,000	-1,100,000	-1,100,000	-1,300,000	-900,000	-1,000,000
equity method investment losses																							-1,400,000	-400,000	-600,000	-700,000	-400,000
equity method investment net losses
dividends per common share																													0.52	0.52	0.45	0.45	0.45	0.41	0.41	0.41	0.37	0.37	0.37	0.35	0.35	0.35	0.29	0.29	0.29	0.27
income from continuing operations before taxes																																			128,000,000	99,300,000		116,100,000	100,800,000	99,500,000	101,200,000	77,100,000	87,800,000	74,800,000	109,500,000	81,100,000	58,200,000	77,000,000	65,100,000														65,900,000	111,400,000	98,900,000	104,500,000	124,100,000	88,300,000				102,500,000	88,700,000	72,500,000	69,975,000	88,100,000	95,400,000
income from continuing operations																																			89,100,000	80,000,000		81,300,000	64,300,000	71,600,000	65,000,000	44,400,000	71,600,000	62,000,000	70,800,000	66,800,000	38,100,000	51,300,000	46,300,000														58,400,000	85,800,000	79,200,000	85,300,000	96,400,000	68,900,000				75,000,000	68,500,000	52,600,000	50,725,000	64,800,000	69,700,000
income from discontinued operations
net income per common share:
continuing operations																																			1	0.9		0.89	0.7	0.79	0.7	0.47	0.74	0.63	0.71	0.67	0.38	0.5	0.44														0.59	0.88	0.81	0.85	0.96	0.69				0.75	0.69	0.53	0.51	0.65	0.7
discontinued operations																																						0.01									0.2	0.12	-0.02																		0.16								0.015	0.02	0.02
net income per common share, assuming dilution:
loss from discontinued operations
income from discontinued operations, net of tax																																						400,000									20,200,000	12,900,000	-2,400,000																	-300,000	15,600,000	-200,000
loss from discontinued operations, net of tax
weighted-average shares outstanding:
average shares outstanding:
other expense (income)																																										38,500,000
other income																																											7,300,000									12,400,000	4,600,000	10,500,000	4,600,000	6,300,000	35,500,000	29,600,000	97,300,000	12,500,000	5,800,000	5,600,000	33,600,000	7,500,000	2,100,000	19,500,000	4,000,000	7,600,000	1,300,000	2,100,000	3,300,000		13,800,000	21,400,000	34,300,000	200,000	-4,000,000		15,200,000
benefit from income taxes																																											16,200,000									37,500,000	22,600,000	12,800,000	42,000,000	22,200,000		400,000	-17,000,000	4,600,000	21,800,000
dividends																																															0.27	0.27	0.27	0.25	0.25	0.25	0.25	0.2	0.2	0.2	0.2	0.41	0.41	0.41	0.41	0.41	0.4	0.4	0.4	0.39	0.39	0.39	0.38	0.38	0.38	0.37	0.37	0.37	0.27	0.36	0.36	0.36	0.33
goodwill and indefinite-lived intangible asset impairment charges																																																											832,000,000
common shares outstanding at period end																																																						105.8	105.7	105.6	105.2	105.1	105	98.3	98.5	98.5	98.3	98.2	97.9	100.2	100.1	99.8	100.2	100.2	100.2	99.9	99.9	99.8				99.4
(benefit from) benefit from income taxes																																																									-4,200,000					-7,500,000
taxes on income																																																															7,500,000	25,600,000	19,700,000	19,200,000	27,700,000	19,400,000	26,900,000	26,200,000	20,300,000	27,500,000	20,200,000	19,900,000	15,100,000	23,300,000	25,700,000	28,900,000	23,600,000
income from discontinued operations, net of taxes																																																																											1,425,000	1,700,000	1,600,000
income per common share:
income per common share, assuming dilution:
operating activities:
adjustments to reconcile net income to net cash from operating activities:
depreciation																																																																														35.4
amortization																																																																														8.8
deferred taxes																																																																														-8.3
changes in assets and liabilities, net of the effect of foreign currency translation, business acquisitions and divestitures																																																																														-68.4
net cash from operating activities																																																																														38.3
investing activities:
purchase of property, plant and equipment																																																																														-40.9
purchase of software																																																																														-7.4
proceeds from sale of assets																																																																														4.4
payments for acquisitions																																																																														-6.6
other																																																																														0.2
net cash from investing activities																																																																														-50.3
financing activities:
additional borrowings																																																																														428.4
payments of debt																																																																														-372.8
dividends paid																																																																														-39.8
purchase of treasury stock																																																																														-0.1
proceeds from exercise of stock options																																																																														1.7
net cash from financing activities																																																																														21.6
effect of foreign currency translation on cash balances																																																																														0.8
increase/(decrease) in cash and cash equivalents																																																																														10.4
cash and cash equivalents, beginning of period																																																																														22.8
cash and cash equivalents, end of period																																																																														33.2
income before accounting change																																																																															63,100,000
cumulative effect of accounting change, net of tax
before accounting change																																																																															0.64
cumulative effect of accounting change

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-27	2025-06-28	2025-03-29	2024-12-28	2024-09-28	2024-06-29	2024-03-30	2023-12-30	2023-09-30	2023-07-01	2023-04-01	2022-12-31	2022-10-01	2022-07-02	2022-04-02	2022-01-01	2021-10-02	2021-07-03	2021-04-03	2021-01-02	2020-09-26	2020-06-27	2020-03-28	2019-12-28	2019-09-28	2019-06-29	2019-03-30	2018-09-29	2018-06-30	2018-03-31	2017-09-30	2017-07-01	2017-04-01	2016-10-01	2016-07-02	2016-04-02	2015-10-03	2015-07-04	2015-04-04	2014-09-27	2014-06-28	2014-03-29	2013-09-28	2013-06-29	2013-03-30	2012-09-29	2012-06-30	2012-03-31	2011-12-31	2011-10-01	2011-07-02	2011-04-02	2010-10-02	2010-07-03	2010-04-03	2009-10-03	2009-07-04	2009-04-04	2008-09-27	2008-06-28	2008-03-29	2007-09-29	2007-06-30	2007-03-31	2006-09-30	2006-07-01	2006-04-01	2005-10-01	2005-07-02	2005-04-02	2004-09-25	2004-06-26	2004-03-27	2003-09-27	2003-06-28	2003-03-29	2002-09-28

assets
current assets:
cash and cash equivalents	202,800,000	536,300,000	215,900,000	195,900,000	329,100,000	212,700,000	208,800,000	185,700,000	215,000,000	209,900,000	217,100,000	351,300,000	167,200,000	128,200,000	164,800,000	147,100,000	162,700,000	207,200,000	344,800,000	328,000,000	252,300,000	284,700,000	262,600,000	742,000,000	253,700,000	224,200,000	247,300,000	225,700,000	217,600,000	215,800,000	187,500,000	232,300,000	209,400,000	294,900,000	189,400,000	216,100,000	169,600,000	171,700,000	246,000,000	212,500,000	195,600,000	221,900,000	205,100,000	309,600,000	211,600,000	207,700,000	190,700,000	161,400,000	190,700,000	178,000,000	119,700,000	125,400,000	120,400,000	157,800,000	148,900,000	143,600,000	91,900,000	91,900,000	83,000,000	81,300,000	87,100,000	73,200,000	77,300,000	76,600,000	57,900,000	50,800,000	49,100,000	39,100,000	75,500,000	31,000,000	53,000,000	69,900,000	28,000,000	31,300,000	31,600,000	42,900,000	33,200,000	28,900,000
trade accounts receivable	1,503,900,000	1,627,800,000	1,626,500,000	1,518,000,000	1,466,200,000	1,574,700,000	1,528,600,000	1,478,000,000	1,414,900,000	1,426,200,000	1,415,200,000	1,369,100,000	1,374,400,000	1,585,600,000	1,565,100,000	1,551,400,000	1,424,500,000	1,441,200,000	1,338,900,000	1,301,400,000	1,235,200,000	1,212,700,000	1,114,600,000	1,222,500,000	1,212,200,000	1,224,200,000	1,232,000,000	1,198,700,000	1,235,700,000	1,236,200,000	1,240,000,000	1,184,800,000	1,138,100,000	1,099,500,000	1,069,700,000	1,028,300,000	1,019,100,000	999,000,000	1,011,400,000	988,000,000	1,087,600,000	1,114,600,000	1,086,200,000	1,055,500,000	1,009,500,000	988,700,000	1,001,500,000	982,000,000	961,900,000	877,100,000	1,074,500,000	1,132,700,000	1,072,300,000	1,079,200,000	1,055,800,000	963,100,000	1,008,600,000	975,600,000	864,200,000	1,120,700,000	1,232,800,000	1,116,900,000	1,112,400,000	1,151,100,000	912,000,000	887,100,000	898,200,000	836,700,000	878,800,000	899,600,000	833,400,000	860,600,000	868,300,000	816,000,000	774,600,000	799,600,000	759,500,000	742,000,000
inventories	975,800,000	1,037,400,000	1,026,900,000	1,017,500,000	978,100,000	1,013,500,000	979,900,000	972,500,000	920,700,000	936,100,000	990,500,000	1,050,600,000	1,009,900,000	1,014,400,000	990,100,000	960,900,000	907,200,000	879,100,000	824,800,000	786,700,000	717,200,000	662,600,000	726,600,000	723,300,000	663,000,000	665,000,000	671,000,000	688,300,000	682,500,000	660,800,000	678,200,000	620,000,000	618,500,000	579,900,000	565,300,000	524,100,000	519,500,000	512,400,000	512,100,000	508,900,000	547,200,000	560,400,000	547,600,000	531,300,000	508,000,000	516,300,000	532,700,000	521,600,000	518,800,000	475,100,000	571,200,000	641,400,000	630,600,000	576,200,000	564,100,000	519,000,000	511,800,000	518,400,000	533,400,000	648,700,000	679,100,000	658,300,000	630,900,000	640,600,000	494,600,000	489,900,000	479,700,000	460,500,000	439,900,000	473,400,000	474,500,000	430,100,000	452,700,000	424,100,000	391,400,000	405,900,000	365,800,000	341,000,000
other current assets	307,800,000	322,200,000	314,500,000	299,000,000	305,300,000	283,800,000	250,500,000	250,600,000	245,400,000	242,100,000	228,200,000	218,200,000	230,500,000	233,600,000	228,800,000	234,900,000	240,200,000	251,000,000	233,100,000	216,300,000	211,500,000	214,500,000	220,800,000	225,800,000	211,700,000	220,000,000	226,900,000	211,000,000	219,400,000	213,400,000	225,500,000	239,400,000	235,500,000	202,300,000	183,300,000	169,600,000	176,700,000	129,300,000	123,700,000	134,100,000	132,900,000	127,000,000	131,500,000	135,100,000	122,600,000	122,200,000	116,200,000	111,500,000	103,500,000	116,300,000	124,500,000	162,000,000	184,900,000	155,600,000	113,700,000	103,000,000	104,000,000	104,700,000	110,100,000	132,400,000	139,700,000	132,500,000										101,000,000	111,500,000	116,400,000	121,700,000	113,500,000	88,900,000	76,300,000
total current assets	2,990,300,000	3,523,700,000	3,183,800,000	3,030,400,000	3,078,700,000	3,084,700,000	2,967,800,000	2,886,800,000	2,796,000,000	2,814,300,000	2,851,000,000	2,989,200,000	2,782,000,000	2,961,800,000	2,948,800,000	2,894,300,000	2,734,600,000	2,778,500,000	2,741,600,000	2,632,400,000	2,416,200,000	2,374,500,000	2,324,600,000	2,913,600,000	2,340,600,000	2,333,400,000	2,377,200,000	2,323,700,000	2,358,800,000	2,328,100,000	2,332,300,000	2,283,300,000	2,209,800,000	2,184,600,000	2,013,600,000	1,942,500,000	1,887,400,000	1,916,000,000	1,998,100,000	1,964,100,000	2,069,800,000	2,129,900,000	2,073,000,000	2,164,900,000	2,589,000,000	2,513,800,000	2,449,000,000	2,401,800,000	2,335,700,000	2,218,800,000	2,036,900,000	2,216,700,000	2,160,200,000	2,129,900,000	1,978,400,000	1,826,700,000	1,824,300,000	1,794,100,000	1,689,200,000	2,136,900,000	2,301,000,000	2,134,100,000	2,062,200,000	2,138,100,000	1,676,900,000	1,587,300,000	1,588,900,000	1,506,100,000	1,514,800,000	1,536,100,000	1,502,400,000	1,490,900,000	1,487,500,000	1,416,500,000	1,351,000,000	1,400,300,000	1,279,500,000	1,241,500,000
property, plant and equipment	1,607,700,000	1,579,900,000	1,604,200,000	1,583,000,000	1,586,700,000	1,612,300,000	1,590,000,000	1,598,200,000	1,625,800,000	1,555,200,000	1,567,000,000	1,565,600,000	1,540,200,000	1,442,600,000	1,451,000,000	1,477,500,000	1,477,700,000	1,405,500,000	1,344,800,000	1,329,000,000	1,343,700,000	1,233,900,000	1,228,800,000	1,232,000,000	1,210,700,000	1,142,100,000	1,143,800,000	1,144,900,000	1,086,900,000	1,084,500,000	1,117,600,000	2,941,400,000	2,865,500,000	2,736,200,000	2,685,500,000	2,600,800,000	2,639,200,000	2,606,900,000	2,613,300,000	2,566,200,000	2,689,100,000	2,725,400,000	2,727,900,000	2,676,900,000	2,665,600,000	2,657,900,000	2,861,900,000	2,825,700,000	2,899,300,000	1,079,400,000	3,149,700,000	3,270,900,000	3,243,000,000	3,177,800,000	3,083,300,000	3,140,000,000	3,226,200,000	3,170,100,000	3,104,800,000	3,245,800,000	3,340,500,000	3,258,600,000	3,154,500,000	3,082,300,000	2,788,800,000	2,740,200,000	2,704,800,000	2,655,100,000	2,675,000,000	2,669,600,000	2,697,400,000	2,551,400,000	2,524,600,000	2,521,500,000	2,427,600,000	1,259,300,000	1,216,300,000	1,133,600,000
goodwill	2,272,500,000	2,029,500,000	2,028,200,000	1,991,400,000	1,976,200,000	2,012,700,000	1,989,800,000	1,993,700,000	2,013,600,000	1,976,300,000	1,985,100,000	1,887,500,000	1,862,400,000	1,824,800,000	1,856,000,000	1,890,000,000	1,881,500,000	1,896,700,000	1,145,000,000	1,141,600,000	1,136,400,000	1,059,300,000	1,039,800,000	1,028,100,000	930,800,000	920,400,000	940,800,000	937,200,000	953,100,000	955,000,000	1,005,100,000	977,100,000	950,400,000	826,400,000	821,600,000	691,000,000	695,100,000	690,700,000	698,400,000	697,000,000	742,000,000	758,600,000	760,000,000	754,500,000	747,500,000	756,900,000	761,800,000	751,600,000	768,500,000	759,300,000	933,500,000	962,000,000	957,500,000	941,400,000	906,600,000	930,700,000	962,200,000	940,000,000	903,100,000	1,775,000,000	1,825,400,000	1,738,300,000	1,638,600,000	1,567,600,000	718,800,000	703,500,000	684,600,000	676,600,000	724,500,000	725,700,000	739,500,000	722,800,000	709,400,000	716,300,000	685,500,000	701,100,000	637,200,000	446,100,000
other intangibles resulting from business acquisitions	827,500,000	694,400,000	716,400,000	734,700,000	755,300,000	783,200,000	800,900,000	823,800,000	849,100,000	860,300,000	883,800,000	833,100,000	840,300,000	855,100,000	882,600,000	910,800,000	911,400,000	931,500,000	216,700,000	221,900,000	224,900,000	194,100,000	195,500,000	197,600,000	126,500,000	129,100,000	136,300,000	140,600,000	148,600,000	154,700,000	167,200,000	170,100,000	168,100,000	83,400,000	70,900,000	36,400,000	41,300,000	50,700,000	55,700,000	60,900,000	73,900,000	83,400,000	89,700,000	103,000,000	109,200,000	117,000,000	139,300,000	145,900,000	154,400,000	161,200,000	203,600,000	215,500,000	223,300,000	237,400,000	240,500,000	250,200,000	271,300,000	277,100,000	279,300,000	298,000,000	313,100,000	320,500,000	320,800,000	352,000,000	93,400,000	96,900,000	96,100,000	96,800,000	130,900,000	134,900,000	140,400,000	140,300,000	143,400,000	147,700,000	149,100,000	153,100,000	148,800,000	129,200,000
deferred tax assets	125,300,000	132,300,000	131,600,000	119,000,000	110,000,000	110,900,000	113,000,000	115,500,000	115,700,000	115,200,000	119,700,000	118,300,000	115,100,000	118,100,000	119,900,000	128,800,000	130,200,000	152,700,000	188,500,000	201,400,000	197,700,000	203,300,000	211,100,000	224,800,000	225,400,000
other assets	978,400,000	907,100,000	904,000,000	896,200,000	897,300,000	848,100,000	836,700,000	837,200,000	809,600,000	811,800,000	859,700,000	828,600,000	810,500,000	839,900,000	834,100,000	837,400,000	836,200,000	802,800,000	785,900,000	746,900,000	765,000,000	655,700,000	651,900,000	664,800,000	654,800,000	617,900,000	611,400,000	615,800,000	439,400,000	441,800,000	442,800,000	445,100,000	420,600,000	413,400,000	398,200,000	395,800,000	395,900,000	438,500,000	449,400,000	453,600,000	484,900,000	488,700,000	488,000,000	475,000,000	478,600,000	467,000,000	446,300,000	438,800,000	435,000,000	431,700,000	456,800,000	458,400,000	453,000,000	447,900,000	458,100,000	465,000,000	426,700,000	423,400,000	407,300,000	551,700,000	557,500,000	542,800,000	530,900,000	527,600,000	529,100,000	586,200,000	588,100,000	582,100,000	567,600,000	564,800,000	567,900,000	513,000,000	512,000,000	505,500,000	519,500,000	502,300,000	472,400,000	351,700,000
total assets	8,801,700,000	8,866,900,000	8,568,200,000	8,354,700,000	8,404,200,000
liabilities and shareholders’ equity
current liabilities:
short-term borrowings and current portion of long-term debt and finance leases	522,900,000	578,800,000	922,000,000	877,500,000	592,300,000	1,116,800,000	1,172,300,000	1,170,500,000	622,200,000	716,000,000	635,800,000	648,300,000	598,600,000	669,900,000	738,600,000	494,900,000	318,800,000	398,800,000	33,600,000	116,900,000	64,700,000	124,100,000	268,600,000	832,300,000	440,200,000	514,200,000	558,500,000	350,300,000
accounts payable	1,261,700,000	1,303,200,000	1,307,500,000	1,272,600,000	1,340,700,000	1,343,200,000	1,313,400,000	1,301,500,000	1,277,100,000	1,265,300,000	1,234,800,000	1,236,200,000	1,339,300,000	1,383,100,000	1,410,900,000	1,372,500,000	1,298,800,000	1,268,200,000	1,226,500,000	1,178,000,000	1,050,900,000	932,800,000	956,500,000	1,030,800,000	1,066,100,000	1,041,200,000	1,055,400,000	1,033,700,000	1,048,000,000	1,034,400,000	1,064,400,000	949,200,000	930,900,000	906,100,000	866,700,000	867,900,000	836,900,000	840,400,000	856,000,000	825,100,000	867,000,000	871,400,000	887,300,000	833,400,000	821,300,000	813,200,000	777,000,000	787,300,000	764,500,000	736,500,000	719,900,000	765,400,000	816,600,000	762,800,000	770,500,000	695,900,000	650,500,000	608,000,000	549,100,000	730,600,000	797,800,000	743,500,000	660,300,000	708,200,000	598,100,000	619,000,000	605,400,000	606,200,000	567,600,000	616,100,000	601,100,000	539,800,000	578,500,000	548,100,000	485,300,000	514,500,000	451,900,000	388,600,000
accrued payroll and employee benefits	232,700,000	243,400,000	205,300,000	192,800,000	288,900,000	275,000,000	235,400,000	203,400,000	213,400,000	202,000,000	178,900,000	188,000,000	228,500,000	236,700,000	220,500,000	214,900,000	299,000,000	283,600,000	241,500,000	214,000,000	239,000,000	218,700,000	175,300,000	189,200,000	220,400,000	192,000,000	169,400,000	159,100,000	203,600,000	176,900,000	173,100,000	226,100,000	188,800,000	168,200,000	207,800,000															145,700,000
accrued trade rebates	169,800,000				157,900,000				142,400,000				173,800,000				176,300,000				140,200,000				132,400,000																									65,800,000
income taxes payable	86,100,000				74,700,000				57,600,000				76,200,000				74,900,000				86,300,000				71,400,000
other current liabilities	380,400,000	661,700,000	627,300,000	609,900,000	408,100,000	614,000,000	579,100,000	632,800,000	386,800,000	561,000,000	559,200,000	571,200,000	383,400,000	649,600,000	630,500,000	640,900,000	380,100,000	658,800,000	580,900,000	549,600,000	344,900,000	540,400,000	509,100,000	507,800,000	323,300,000	520,500,000	495,200,000	497,400,000	534,900,000	513,600,000	473,600,000	465,000,000	408,700,000	351,800,000	394,000,000	525,300,000	492,400,000	499,700,000	465,000,000	433,300,000	554,000,000	505,000,000	449,800,000	534,400,000	501,700,000	466,500,000	485,900,000	438,100,000	421,400,000		523,300,000	517,200,000	521,500,000	622,100,000	556,500,000	509,300,000	614,200,000	581,600,000	549,600,000	630,800,000	641,900,000	590,800,000	635,000,000	615,600,000	453,200,000	548,200,000	507,700,000	454,100,000	511,100,000	506,200,000	470,000,000	542,600,000	498,600,000	474,400,000	599,600,000	602,700,000	551,500,000	559,400,000
total current liabilities	2,653,600,000	2,787,100,000	3,062,100,000	2,952,800,000	2,862,600,000	3,349,000,000	3,300,200,000	3,308,200,000	2,699,500,000	2,744,300,000	2,608,700,000	2,643,700,000	2,799,800,000	2,939,300,000	3,000,500,000	2,723,200,000	2,547,900,000	2,609,400,000	2,082,500,000	2,058,500,000	1,926,000,000	1,816,000,000	1,909,500,000	2,560,100,000	2,253,800,000	2,267,900,000	2,278,500,000	2,040,500,000	2,358,200,000	2,109,200,000	2,081,400,000	2,023,300,000	1,972,400,000	1,759,300,000	2,056,100,000	1,592,200,000	1,594,200,000	1,469,500,000	1,550,800,000	1,606,800,000	1,632,900,000	1,622,700,000	1,540,500,000	1,573,400,000	1,984,900,000	2,126,200,000	2,154,000,000	2,122,300,000	2,022,400,000	1,647,100,000	1,742,200,000	1,946,600,000	1,947,600,000	1,892,800,000	1,897,500,000	1,861,600,000	1,988,300,000	2,016,100,000	1,946,400,000	2,125,400,000	2,309,300,000	2,115,300,000	2,867,600,000	3,218,100,000	1,671,400,000	1,524,200,000	1,439,600,000	1,436,700,000	1,203,400,000	1,304,700,000	1,303,000,000	1,279,500,000	1,522,100,000	1,433,000,000	1,410,500,000	1,444,100,000	1,316,500,000	1,216,900,000
long-term debt and finance leases	3,210,000,000	3,202,300,000	2,628,200,000	2,581,600,000	2,559,900,000	2,042,100,000	2,046,500,000	2,069,900,000	2,622,100,000	2,597,600,000	2,909,700,000	2,910,800,000	2,503,500,000	2,462,900,000	2,493,400,000	2,773,800,000	2,785,900,000	2,800,200,000	2,020,200,000	2,025,900,000	2,052,100,000	2,020,000,000	1,997,600,000	1,988,000,000	1,499,300,000	1,483,700,000	1,503,300,000	1,759,900,000
long-term retirement benefits and other liabilities	432,000,000	436,700,000	448,200,000	430,800,000	434,600,000	416,200,000	415,900,000	418,500,000	500,300,000	474,700,000	475,000,000	367,500,000	367,100,000	414,600,000	433,700,000	465,000,000	474,900,000	504,100,000	506,900,000	493,100,000	503,600,000	438,800,000	417,400,000	416,500,000	421,400,000	427,000,000	433,300,000	441,000,000	353,500,000	584,600,000	596,500,000	678,700,000	656,000,000	649,900,000	684,500,000	674,500,000	612,100,000	622,200,000	608,600,000	610,400,000	467,800,000	475,700,000	469,100,000	485,000,000	595,300,000	593,100,000	521,600,000	531,000,000	553,500,000	587,100,000	489,300,000	515,300,000	540,100,000	607,300,000	546,100,000	552,500,000	556,500,000	551,000,000	558,500,000	382,600,000	395,700,000	389,500,000
deferred tax liabilities and income taxes payable	264,000,000	229,800,000	228,100,000	219,000,000	234,800,000	250,700,000	248,500,000	254,600,000	260,000,000	252,900,000	257,700,000	257,400,000	247,900,000	218,200,000	227,900,000	244,300,000	238,500,000	254,800,000	109,300,000	113,800,000	117,300,000	111,400,000	113,300,000	122,900,000	110,300,000
commitments and contingencies
shareholders’ equity:
common stock	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000	124,100,000
capital in excess of par value	834,300,000	829,600,000	821,900,000	817,700,000	840,600,000	839,800,000	833,100,000	834,000,000	854,500,000	852,500,000	851,300,000	850,800,000	879,300,000	866,500,000	855,900,000	844,600,000	862,300,000	854,800,000	846,500,000	845,800,000	862,100,000	850,300,000	840,000,000	852,500,000	874,000,000	864,800,000	857,700,000	851,500,000	862,400,000	854,500,000	848,400,000	854,600,000	845,900,000	839,200,000	843,100,000	834,400,000	828,700,000	825,500,000	818,000,000	810,400,000	818,600,000	811,700,000	803,900,000	804,800,000	800,700,000	792,300,000	794,500,000	785,500,000	777,700,000	778,600,000	769,900,000	765,500,000	760,900,000	742,800,000	711,200,000	722,900,000	698,400,000	623,100,000	612,500,000	747,400,000	723,700,000	745,500,000	832,300,000	900,900,000	857,100,000	802,600,000	775,900,000	772,700,000	696,900,000	697,400,000	788,800,000	802,900,000	802,400,000	776,200,000	643,900,000	628,900,000	747,800,000	740,200,000
retained earnings	5,597,500,000	5,498,300,000	5,399,300,000	5,276,500,000	5,151,200,000	5,042,700,000	4,922,200,000	4,809,100,000	4,691,800,000	4,608,200,000	4,526,900,000	4,486,400,000	4,414,600,000	4,347,000,000	4,182,000,000	4,023,200,000	3,880,700,000	3,749,700,000	3,637,300,000	3,504,400,000	3,349,300,000	3,205,500,000	3,100,200,000	3,064,800,000	2,979,100,000	2,861,700,000	2,762,300,000	2,663,500,000	2,809,400,000	2,702,100,000	2,647,800,000	2,693,300,000	2,621,800,000	2,537,900,000	2,444,100,000	2,385,500,000	2,329,700,000	2,244,300,000	2,213,200,000	2,175,400,000	2,096,200,000	2,063,400,000	2,051,800,000	1,993,600,000	1,974,900,000	1,933,900,000	1,890,000,000	1,859,400,000	1,823,800,000	1,810,500,000	1,815,800,000	1,792,600,000	1,746,000,000	1,635,900,000	1,593,700,000	1,532,000,000	1,472,400,000	1,432,700,000	1,438,700,000	2,382,300,000	2,363,400,000	2,314,800,000	2,238,200,000	2,222,500,000	2,179,300,000	2,082,500,000	2,040,300,000	1,971,200,000	1,995,000,000	1,950,800,000	1,903,400,000	1,846,000,000	1,811,900,000	1,784,300,000	1,754,100,000	1,727,300,000	1,695,800,000	1,649,000,000
treasury stock	-3,904,100,000	-3,784,700,000	-3,693,700,000	-3,598,600,000	-3,347,500,000	-3,212,300,000	-3,154,600,000	-3,141,200,000	-3,134,400,000	-3,118,600,000	-3,093,900,000	-3,057,400,000	-3,021,800,000	-2,962,300,000	-2,914,000,000	-2,799,400,000	-2,659,800,000	-2,606,400,000	-2,576,700,000	-2,546,300,000	-2,501,000,000	-2,451,400,000	-2,447,200,000	-2,456,000,000	-2,425,100,000	-2,393,900,000	-2,311,800,000																					-904,900,000	-843,500,000	-791,500,000	-796,700,000	-771,700,000	-771,700,000	-688,400,000	-670,400,000	-652,100,000	-570,800,000	-570,800,000	-571,000,000	-867,700,000	-858,200,000	-858,200,000	-858,200,000	-858,200,000	-853,900,000	-637,800,000	-638,000,000	-638,200,000	-597,300,000	-597,300,000	-597,600,000	-597,400,000	-597,200,000	-597,200,000	-596,800,000	-596,800,000	-597,000,000
accumulated other comprehensive loss	-409,700,000	-456,300,000	-450,000,000	-449,200,000	-456,100,000	-400,400,000	-437,700,000	-422,000,000	-408,100,000	-402,600,000	-393,200,000	-361,000,000	-364,000,000	-368,000,000	-311,100,000	-260,000,000	-282,900,000	-323,000,000	-327,600,000	-346,100,000	-349,600,000	-393,900,000	-403,200,000	-412,000,000	-348,100,000	-399,300,000	-369,800,000													-613,700,000								-293,600,000	-217,900,000	-263,200,000	-164,000,000	-69,200,000	-73,300,000	-151,400,000	-217,800,000	-171,400,000	-170,800,000	-219,500,000	-325,600,000					-12,800,000	-29,000,000	-47,500,000	-71,100,000	-80,600,000	-71,700,000	-74,900,000	-36,400,000				-105,200,000	-91,400,000	-176,500,000	-173,200,000
total shareholders’ equity	2,242,100,000	2,211,000,000	2,201,600,000	2,170,500,000	2,312,300,000	2,393,900,000	2,287,100,000	2,204,000,000	2,127,900,000	2,063,600,000	2,015,200,000	2,042,900,000	2,032,200,000	2,007,300,000	1,936,900,000	1,932,500,000	1,924,400,000	1,799,200,000	1,703,600,000	1,581,900,000	1,484,900,000	1,334,600,000	1,213,900,000	1,173,400,000	1,204,000,000	1,057,400,000	1,062,500,000	991,900,000	1,047,100,000	1,021,900,000	1,089,700,000	1,134,900,000	1,069,800,000	1,014,600,000	1,042,400,000	956,500,000	968,300,000	1,055,300,000	1,096,700,000	1,026,000,000	1,306,800,000	1,429,100,000	1,495,000,000	1,573,900,000	1,514,600,000	1,573,700,000	1,585,500,000	1,570,500,000	1,664,200,000	1,658,500,000	1,749,100,000	1,804,600,000	1,737,200,000	1,532,000,000	1,409,400,000	1,381,400,000	1,300,000,000	1,201,300,000	1,087,200,000	2,098,600,000	2,199,100,000	2,111,600,000	1,897,700,000	1,823,300,000	1,720,300,000	1,747,200,000	1,664,800,000	1,564,500,000	1,604,300,000	1,551,200,000	1,537,500,000	1,418,600,000	1,377,600,000	1,351,200,000	1,261,800,000	1,244,300,000	1,122,400,000	1,020,200,000
total liabilities and shareholders' equity	8,801,700,000				8,404,200,000
total liabilities and shareholders’ equity		8,866,900,000	8,568,200,000	8,354,700,000
																									5,488,800,000
non-current deferred income taxes																										195,800,000	180,200,000	191,500,000	195,100,000	199,000,000	215,500,000	347,400,000	325,100,000	317,800,000	390,700,000	390,400,000	381,800,000	312,400,000	300,300,000	305,800,000	238,800,000	250,700,000	261,600,000	322,800,000	344,300,000	343,400,000	298,600,000	307,500,000	317,700,000	322,300,000	252,400,000	261,900,000	266,100,000
non-current deferred and payable income taxes																										102,700,000	112,100,000	120,400,000	127,800,000	157,700,000	170,200,000	134,700,000	117,300,000	91,900,000	104,400,000	108,700,000	111,500,000	133,400,000	128,000,000	124,100,000	140,900,000	143,900,000	136,300,000	149,600,000	144,800,000	142,600,000	138,600,000	130,900,000	127,100,000	125,800,000	125,400,000	138,700,000	134,400,000	115,300,000	124,000,000	122,700,000	134,100,000	139,900,000	133,600,000	233,200,000	248,300,000	243,300,000
assets held for sale																													3,600,000	1,900,000	1,100,000	6,800,000	8,300,000	8,000,000	5,900,000	4,400,000	2,500,000		2,000,000	17,700,000	900,000	2,200,000	1,300,000	6,300,000	609,400,000	551,500,000	475,000,000	511,200,000	443,600,000	454,900,000
short-term borrowings and current portion of long-term debt and capital leases																													571,700,000	384,300,000	370,300,000	383,000,000	444,000,000	333,200,000	587,600,000	199,000,000	264,900,000	85,100,000	182,200,000	265,700,000	167,100,000	227,500,000	167,900,000	114,800,000	438,200,000	655,400,000
long-term debt and capital leases																													1,295,300,000	1,289,700,000	1,342,700,000	1,298,400,000	1,276,300,000	1,250,200,000	713,000,000	962,900,000	963,300,000	968,500,000	969,500,000	945,300,000	945,100,000	945,200,000	950,400,000	950,900,000	951,400,000	702,000,000
accumulated depreciation																																																-1,813,400,000	-1,839,700,000		-1,972,400,000	-2,025,400,000	-1,988,400,000	-1,910,100,000	-1,840,300,000	-1,847,100,000	-1,832,900,000	-1,766,100,000	-1,705,400,000	-1,702,500,000	-1,722,300,000	-1,665,900,000	-1,585,500,000	-1,504,000,000	-1,477,200,000	-1,457,100,000	-1,425,200,000	-1,374,200,000	1,377,800,000	1,360,100,000	1,351,400,000	1,274,000,000	1,250,400,000	1,230,300,000	1,173,300,000	1,146,300,000	1,116,300,000	1,071,400,000
current deferred and refundable income taxes																																						103,600,000	102,900,000	102,900,000	105,600,000	103,800,000	101,300,000	127,100,000	127,900,000	127,400,000	132,900,000	114,100,000	117,200,000	117,400,000	147,000,000	155,200,000	152,000,000	161,100,000	95,900,000	98,000,000	108,000,000	103,500,000	98,500,000	153,800,000	162,300,000	153,200,000
current deferred and payable income taxes																																						44,300,000	47,600,000	64,900,000	44,800,000	18,800,000	35,500,000	90,800,000	53,100,000	51,200,000	69,700,000	60,400,000	81,700,000	81,800,000	65,800,000	52,200,000	41,900,000	64,400,000	43,800,000	28,100,000	54,200,000	34,900,000	35,300,000	42,400,000	43,800,000	30,200,000
liabilities held for sale																																								17,800,000					170,600,000	139,900,000	147,000,000	165,000,000	141,600,000	154,500,000
short-term borrowings and current portion of long-term debt																																															674,400,000	671,500,000
long-term debt																																															702,700,000	703,200,000	703,700,000	954,200,000	954,500,000	954,800,000	955,400,000	1,065,800,000	1,060,500,000	1,073,700,000	1,115,700,000	1,134,900,000	1,139,200,000	1,545,200,000	1,545,400,000	1,545,100,000	755,500,000	506,700,000	501,600,000	550,700,000	721,100,000	720,800,000	973,800,000	976,600,000	995,000,000	1,054,300,000	813,500,000	887,100,000	891,300,000	932,000,000	936,400,000	768,700,000
short-term and current portion of long-term debt																																																	613,200,000	227,100,000	433,200,000	611,800,000	567,600,000	443,500,000	526,700,000	628,300,000	669,400,000	791,600,000	812,400,000	721,600,000	825,800,000	750,800,000	1,572,300,000	1,894,300,000	620,100,000	357,000,000	326,500,000	376,400,000	124,700,000	182,400,000	231,900,000	197,100,000	445,000,000	410,500,000	325,600,000	326,900,000	313,100,000	268,900,000
other accrued liabilities																																																		235,700,000
employee stock benefit trust, 1,784,741 shares at end of year 2010
employee stock benefit trust, 1,784,741 shares at january 1, 2011
employee stock benefit trust, 1,003,388 shares and 1,784,741 shares at july 2, 2011 and january 1, 2011, respectively																																																				-36,700,000
employee stock benefit trust, 1,217,995 shares and 1,784,741 shares at april 2, 2011 and january 1, 2011, respectively																																																					-48,800,000
non-current deferred and refundable income taxes																																																						188,900,000	210,900,000	226,400,000	216,800,000	204,600,000	186,600,000	80,100,000	82,600,000	76,400,000
employee stock benefit trust, 3,569,130 shares and 6,744,845 shares at october 2, 2010 and january 2, 2010, respectively																																																						-131,000,000
employee stock benefit trust, 4,171,363 shares and 6,744,845 shares at july 3, 2010 and january 2, 2010, respectively																																																							-131,400,000
employee stock benefit trust, 4,868,002 shares and 6,744,845 shares at april 3, 2010 and january 2, 2010, respectively																																																								-174,100,000
cost of unallocated esop shares																																																											-1,200,000	-3,800,000	-3,800,000	-3,800,000	-5,700,000	-5,700,000	-5,700,000	-7,700,000	-7,700,000	-7,700,000	-9,700,000	-9,700,000	-9,700,000	-11,600,000	-11,600,000	-11,600,000	-13,600,000	-13,600,000	-12,200,000	-13,700,000
employee stock benefit trusts, 7,538,811 shares and 7,888,953 shares at october 3, 2009 and december 27, 2008, respectively																																																									-253,300,000
employee stock benefit trusts, 7,635,096 shares and 7,888,953 shares at july 4, 2009 and december 27, 2008, respectively																																																										-188,300,000
employee stock benefit trusts, 7,767,231 shares and 7,888,953 shares at april 4, 2009 and december 27, 2008, respectively																																																											-190,300,000
employee stock benefit trusts, 7,926,135 shares and 8,063,898 shares at september 27, 2008 and december 29, 2007, respectively																																																												-358,700,000
accumulated other comprehensive income																																																												75,000,000	195,300,000	168,800,000	30,500,000
employee stock benefit trusts, 7,963,266 shares and 8,063,898 shares at june 28, 2008 and december 29, 2007, respectively																																																													-345,400,000
employee stock benefit trusts, 7,985,919 shares and 8,063,898 shares at march 29, 2008 and december 29, 2007, respectively																																																														-379,600,000
deferred taxes and other current assets																																																															241,600,000	269,800,000	212,400,000
non-current deferred and payable income taxes and other long-term liabilities																																																															600,700,000	615,500,000	436,500,000
employee stock benefit trusts, 8,162,760 shares and 8,896,474 shares at september 29, 2007 and december 30, 2006, respectively																																																															-463,500,000
employee stock benefit trusts, 8,266,381 shares and 8,896,474 shares at june 30, 2007 and december 30, 2006, respectively																																																																-547,500,000
employee stock benefit trusts, 8,612,468 shares and 8,896,474 shares at march 31, 2007 and december 30, 2006, respectively																																																																	-551,600,000
current deferred taxes and other current assets																																																																		159,500,000	161,900,000	169,800,000
non-current deferred taxes and other long-term liabilities																																																																		434,900,000	411,800,000	420,500,000	453,500,000	438,500,000	460,700,000	392,000,000	413,300,000	405,900,000	395,800,000	395,700,000	378,900,000	215,200,000
employee stock benefit trusts, 9,525,916 shares and 10,006,610 shares at september 30, 2006 and december 31, 2005, respectively																																																																		-569,000,000
employee stock benefit trusts, 9,645,109 shares and 10,006,610 shares at july 1, 2006 and december 31, 2005, respectively																																																																			-558,700,000
employee stock benefit trusts, 9,887,390 shares and 10,006,610 shares at april 1, 2006 and december 31, 2005, respectively																																																																				-577,000,000
deferred taxes																																																																					16,800,000	31,900,000	31,900,000	29,300,000	27,000,000	28,700,000	31,700,000	38,400,000	32,100,000	53,300,000
prepaid expenses and other current assets																																																																					103,800,000	100,200,000	109,600,000
employee stock benefit trusts, 10,191,120 shares and 10,343,648 shares at october 1, 2005 and january 1, 2005, respectively																																																																					-533,000,000
employee stock benefit trusts, 10,238,086 shares and 10,343,648 shares at july 2, 2005 and january 1, 2005, respectively																																																																						-539,200,000
employee stock benefit trusts, 10,279,609 shares and 10,343,648 shares at april 2, 2005 and january 1, 2005, respectively																																																																							-635,100,000
employee stock benefit trusts, 10,512,756 shares at september 25, 2004 and 10,897,033 shares at december 27, 2003																																																																								-663,900,000
accumulated other comprehensive loss, net of tax																																																																								-81,500,000	-83,400,000	-70,600,000
employee stock benefit trusts, 10,541,959 shares at june 26, 2004 and 10,897,033 shares at december 27, 2003																																																																									-668,600,000
employee stock trusts, 10,669,766 shares at march 27, 2004 and 10,897,033 shares at december 27, 2003																																																																										-654,000,000
other long-term obligation																																																																														81,100,000
employee stock trusts, 11,028,434 shares at september 27, 2003 and 11,163,451 shares at december 28, 2002																																																																											-544,700,000
property, plant and equipment, at cost																																																																												2,405,600,000	2,332,600,000	2,205,000,000
employee stock trusts, 11,034,209 shares at june 28, 2003 and 11,163,451 shares at december 28, 2002																																																																												-534,200,000
employee stock trusts, 11,091,922 shares at march 29, 2003 and 11,163,451 shares at december 28, 2002																																																																													-659,600,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-27	2025-06-28	2025-03-29	2024-12-28	2024-09-28	2024-06-29	2024-03-30	2023-12-30	2023-09-30	2023-07-01	2023-04-01	2022-12-31	2022-10-01	2022-07-02	2022-04-02	2022-01-01	2021-10-02	2021-07-03	2021-04-03	2021-01-01	2020-09-26	2020-06-27	2020-03-28	2019-12-28	2019-09-28	2019-06-29	2019-03-30	2018-09-29	2018-06-30	2018-03-31	2017-09-30	2017-07-01	2017-04-01	2016-10-01	2016-07-02	2016-04-02	2015-10-03	2015-07-04	2015-04-04	2014-09-27	2014-06-28	2014-03-29	2013-09-28	2013-06-29	2013-03-30	2012-09-29	2012-06-30	2012-03-31	2011-12-31	2011-10-01	2011-07-02	2011-04-02	2010-10-02	2010-07-03	2010-04-03	2009-10-03	2009-07-04	2009-04-04	2008-09-27	2008-06-28	2008-03-29	2007-12-29	2007-09-29	2007-06-30	2007-03-31	2006-09-30	2006-07-01	2006-04-01	2005-10-01	2005-07-02	2005-04-02	2004-09-25	2004-06-26	2004-03-27	2003-12-27	2003-09-27	2003-06-28	2003-03-29

operating activities
net income	166,400,000	166,300,000	189,000,000	166,300,000	174,000,000	181,700,000	176,800,000	172,400,000	143,100,000	138,300,000	100,400,000	121,200,000	122,900,000	221,500,000	214,500,000	198,200,000	182,700,000	164,100,000	183,800,000	209,500,000		150,500,000	79,700,000	134,200,000	162,500,000	144,600,000	143,400,000	-146,900,000	149,500,000	95,600,000	125,200,000	108,300,000	120,900,000	112,200,000	89,100,000	80,000,000	89,600,000	82,400,000	63,300,000	71,600,000	64,300,000	42,500,000	71,200,000	46,500,000	68,800,000	57,800,000	58,300,000	64,200,000	43,900,000	22,200,000	49,800,000	73,300,000	44,800,000	64,200,000	83,800,000	54,700,000	62,500,000	39,800,000	-898,900,000	62,700,000	92,400,000	68,400,000		58,400,000	85,800,000	79,200,000	85,000,000	112,000,000	68,700,000	86,200,000	89,400,000	57,700,000	75,000,000	68,500,000	52,600,000	59,300,000	66,500,000	71,300,000	70,800,000
adjustments to reconcile net income to net cash from operating activities:
depreciation	51,800,000	54,300,000	51,500,000	48,800,000	49,600,000	48,800,000	49,700,000	49,000,000	48,900,000	47,000,000	46,700,000	44,800,000	45,200,000	44,000,000	44,400,000	43,800,000	44,400,000	42,100,000	40,800,000	40,000,000		39,100,000	37,800,000	36,800,000	35,000,000	34,900,000	35,500,000	34,900,000	37,100,000	34,800,000	34,300,000	32,900,000	30,900,000	28,800,000	30,200,000	29,600,000	29,000,000	30,400,000	31,700,000	33,200,000	33,000,000	32,400,000	33,600,000	35,400,000	34,500,000	35,000,000	36,000,000	34,700,000	40,500,000	41,200,000	42,200,000	42,200,000	42,400,000	46,600,000	41,700,000	44,100,000	44,200,000	44,700,000	49,300,000	53,200,000	51,400,000	50,200,000		49,100,000	41,200,000	38,500,000	37,900,000	38,900,000	39,000,000	38,300,000	38,900,000	38,200,000	35,900,000	36,500,000	36,900,000		35,800,000	33,600,000	35,400,000
amortization	33,700,000	29,700,000	29,300,000	29,100,000	28,600,000	29,300,000	28,900,000	28,300,000	28,100,000	28,100,000	27,300,000	27,500,000	28,300,000	28,000,000	28,800,000	28,200,000	28,200,000	19,800,000	14,400,000	14,400,000		12,900,000	12,500,000	10,700,000	10,600,000	9,100,000	9,400,000	9,600,000	9,600,000	10,000,000	10,200,000	11,100,000	15,300,000	15,800,000	15,900,000	15,500,000	15,300,000	15,700,000	15,700,000	16,100,000	16,100,000	17,000,000	16,400,000	17,000,000	17,300,000	16,500,000	17,500,000	16,500,000	18,900,000	20,600,000	19,200,000	20,800,000	17,900,000	19,700,000	18,100,000	17,700,000	17,200,000	16,700,000	21,900,000	22,100,000	15,900,000	17,700,000		14,500,000	11,100,000	10,000,000	11,400,000	10,600,000	10,700,000	11,000,000	11,500,000	11,600,000	10,600,000	9,900,000	9,300,000		9,000,000	8,200,000	8,800,000
provision for credit losses and sales returns	12,000,000	13,900,000	13,400,000	11,900,000	9,200,000	10,000,000	16,400,000	11,800,000	17,500,000	13,500,000	8,300,000	10,600,000	13,200,000	13,000,000	7,800,000	16,100,000	9,600,000	8,600,000	8,600,000	8,900,000		11,600,000	7,600,000	31,200,000
stock-based compensation	5,200,000	8,000,000	6,800,000	7,900,000	4,500,000	6,800,000	9,900,000	7,500,000	4,900,000	5,200,000	1,700,000	10,500,000	12,900,000	10,600,000	12,800,000	11,100,000	10,100,000	8,600,000	8,600,000	9,900,000		10,700,000	-4,900,000	6,300,000	9,000,000	9,000,000	8,900,000	7,600,000	8,400,000	9,000,000	7,400,000	9,000,000	7,600,000	5,600,000	6,000,000	6,600,000	7,500,000	5,200,000	5,800,000	7,400,000	7,600,000	8,500,000	6,000,000	7,800,000	8,400,000	9,200,000	9,300,000	9,600,000	11,800,000	9,700,000	9,200,000	9,000,000	11,700,000	9,700,000	8,700,000	7,500,000	6,600,000	6,800,000	6,400,000	7,100,000	8,900,000	8,000,000		5,200,000	5,200,000	5,100,000
deferred taxes and other non-cash taxes	-5,200,000	-2,700,000	2,800,000	-14,800,000	-15,500,000	800,000	-800,000	-3,000,000	5,000,000	-11,900,000	-13,000,000	-4,500,000	26,900,000	-17,100,000	6,700,000	1,900,000	4,100,000	-12,100,000	9,100,000	1,500,000		700,000	10,000,000	6,400,000
other non-cash expense and loss (income and gain)	17,100,000	10,900,000	300,000	20,500,000	7,500,000	13,100,000	28,500,000	18,100,000	11,900,000	8,200,000	6,900,000	10,100,000	8,800,000	-300,000	8,500,000	6,500,000	-7,600,000	3,900,000	11,100,000	2,700,000		18,600,000	12,300,000	4,400,000	10,800,000	7,200,000
changes in assets and liabilities and other adjustments:
trade accounts receivable
inventories
accounts payable
taxes on income
other assets
other liabilities
net cash from operating activities	376,800,000	312,100,000	208,800,000	-16,300,000	351,200,000	270,100,000	197,700,000	119,800,000	311,900,000	322,600,000	189,600,000	1,900,000	345,800,000	220,800,000	268,200,000	126,200,000	284,000,000	286,000,000	267,500,000	209,300,000		257,800,000	179,600,000	4,400,000	279,500,000	228,200,000	203,400,000	35,400,000	-21,800,000	193,500,000	16,000,000	214,300,000	163,000,000	15,300,000	149,700,000			119,400,000						49,000,000			173,100,000	30,300,000	10,700,000	302,700,000	215,200,000	22,300,000	-117,500,000	140,500,000	171,000,000	-27,900,000	184,100,000	116,800,000	16,000,000	193,600,000	132,700,000	56,000,000	193,800,000	174,700,000	119,000,000	11,900,000	226,900,000	111,300,000	21,700,000	200,400,000	90,800,000	-2,700,000	152,400,000	114,800,000	65,500,000				38,300,000
capital expenditures	-67,100,000	-35,900,000	-30,000,000	-36,000,000	-69,500,000	-43,000,000	-47,500,000	-48,800,000	-92,300,000	-57,100,000	-51,400,000	-64,500,000	-94,900,000	-76,400,000	-57,100,000	-49,700,000	-124,400,000	-46,800,000	-58,600,000	-25,200,000		-27,800,000	-30,700,000	-33,200,000	-86,500,000	-53,100,000	0	0	0	0	0	0	0	0	0			0						0			0	0	-24,000,000	-28,900,000	-23,000,000	-25,100,000	-28,000,000	-22,700,000	0	-13,700,000	-16,200,000	-14,800,000	-15,700,000	-28,700,000	-30,700,000	-38,400,000	-54,200,000	-41,600,000	-38,300,000	-56,400,000	-30,100,000	-29,000,000	-51,500,000	-40,300,000	-32,900,000	-43,900,000	-38,400,000	-39,300,000	-37,900,000				-40,900,000
free cash flows	309,700,000	276,200,000	178,800,000	-52,300,000	281,700,000	227,100,000	150,200,000	71,000,000	219,600,000	265,500,000	138,200,000	-62,600,000	250,900,000	144,400,000	211,100,000	76,500,000	159,600,000	239,200,000	208,900,000	184,100,000		230,000,000	148,900,000	-28,800,000	193,000,000	175,100,000	203,400,000	35,400,000	-21,800,000	193,500,000	16,000,000	214,300,000	163,000,000	15,300,000	149,700,000			119,400,000						49,000,000			173,100,000	30,300,000	-13,300,000	273,800,000	192,200,000	-2,800,000	-145,500,000	117,800,000	171,000,000	-41,600,000	167,900,000	102,000,000	300,000	164,900,000	102,000,000	17,600,000	139,600,000	133,100,000	80,700,000	-44,500,000	196,800,000	82,300,000	-29,800,000	160,100,000	57,900,000	-46,600,000	114,000,000	75,500,000	27,600,000				-2,600,000
investing activities
purchases of property, plant and equipment	-67,100,000	-35,900,000	-30,000,000	-36,000,000	-69,500,000	-43,000,000	-47,500,000	-48,800,000	-92,300,000	-57,100,000	-51,400,000	-64,500,000	-94,900,000	-76,400,000	-57,100,000	-49,700,000	-124,400,000	-46,800,000	-58,600,000	-25,200,000		-27,800,000	-30,700,000	-33,200,000	-86,500,000	-53,100,000																												-22,700,000
purchases of software and other deferred charges	-8,500,000	-7,700,000	-7,600,000	-7,600,000	-8,900,000	-9,200,000	-6,000,000	-6,900,000	-4,500,000	-4,300,000	-5,700,000	-5,300,000	-6,500,000	-4,000,000	-4,300,000	-5,600,000	-7,300,000	-3,400,000	-4,100,000	-2,300,000		-2,800,000	-4,800,000	-6,200,000	-10,400,000	-14,400,000																												-6,700,000
proceeds from company-owned life insurance policies
purchases of argentine blue chip swap securities					0	0	-14,000,000	-20,200,000
proceeds from sales of argentine blue chip swap securities					0	0	10,000,000	14,000,000
proceeds from sales of property, plant and equipment	2,400,000	4,500,000			200,000	100,000	200,000	100,000	300,000	400,000	100,000	200,000	100,000	100,000	1,800,000	300,000	0	100,000	300,000	700,000		100,000			100,000	300,000	100,000	7,300,000	100,000	2,400,000	6,900,000	2,800,000			1,100,000	3,100,000	100,000	4,300,000	0	2,800,000
proceeds from insurance and sales (purchases) of investments	-1,000,000	-4,300,000	2,000,000	6,800,000	6,500,000	1,400,000	2,100,000	100,000	-45,200,000	48,300,000	2,300,000	-3,500,000	0	-100,000	200,000	1,800,000	1,900,000	800,000	900,000	-500,000		5,600,000	-100,000	-300,000				4,500,000
proceeds from settlement of net investment hedges	0	0	0	6,200,000
payment for settlement of net investment hedges
payments for acquisitions, net of cash acquired, and venture investments	-391,100,000	0	-8,100,000	-2,600,000	-1,900,000	0	-1,600,000	-300,000	-21,200,000	-9,600,000	-150,600,000	-43,500,000
net cash from investing activities	-491,400,000	-43,400,000	-28,000,000	-33,200,000	-73,600,000	-50,700,000	-56,800,000	-62,000,000	-114,800,000	-22,300,000	-205,300,000	-116,600,000	-102,700,000	-80,400,000	-63,000,000	-86,600,000	-132,200,000	-1,489,800,000	-64,700,000	-51,200,000		-34,900,000	-42,400,000	-285,600,000	-95,400,000	-68,000,000																						-21,500,000	-33,300,000	-13,000,000	-21,300,000	-37,400,000	-32,500,000	-29,600,000	-18,500,000	-18,900,000	-21,300,000	-26,900,000	-22,600,000	-45,400,000	-154,600,000	-54,400,000		-53,400,000	-1,335,700,000	-69,700,000	-46,700,000	-10,700,000	-56,100,000	-45,000,000	-29,000,000	-37,800,000	-58,700,000	-39,200,000	-48,100,000				-50,300,000
financing activities
net increase in borrowings with maturities of three months or less	-59,500,000	-334,200,000	19,700,000	796,500,000	-477,200,000	210,400,000	-18,100,000	15,900,000	-107,200,000	-211,200,000	238,900,000	42,900,000	-81,300,000	-61,000,000	-2,500,000	179,400,000		368,200,000
additional long-term borrowings	-300,000								0	0	0	394,900,000					-200,000					0	-700,000	494,400,000								0	-100,000	526,700,000
repayments of long-term debt and finance leases	-1,100,000	-6,700,000	-26,600,000	-525,000,000	-2,900,000	-301,700,000	-1,800,000	-1,700,000	-1,700,000	-1,600,000	-251,200,000	-1,400,000	-1,900,000	-1,000,000	-1,500,000	-1,900,000	-5,400,000	-4,900,000	-1,600,000	-1,500,000		-1,300,000	-266,500,000	-1,100,000	-900,000	-1,200,000
dividends paid	-72,400,000	-73,100,000	-73,500,000	-69,400,000	-70,400,000	-70,900,000	-70,900,000	-65,300,000	-65,200,000	-65,300,000	-65,400,000	-60,800,000	-60,600,000	-60,900,000	-61,200,000	-56,200,000	-56,300,000	-56,300,000	-56,400,000	-51,600,000		-48,400,000	-48,400,000	-48,400,000	-48,400,000	-48,600,000																						-27,900,000	-28,400,000	-26,500,000	-26,600,000	-26,700,000	-26,700,000	-22,000,000	-22,100,000	-22,400,000	-22,700,000	-45,900,000	-43,700,000	-43,800,000	-43,800,000	-43,800,000		-42,600,000	-42,700,000	-42,700,000	-42,800,000	-42,900,000	-42,800,000	-42,000,000	-42,000,000	-41,900,000	-40,900,000	-40,800,000	-40,900,000		-39,700,000	-39,800,000	-39,800,000
share repurchases	-118,700,000	-93,600,000	-98,400,000	-261,600,000	-140,000,000	-66,800,000	-25,100,000	-15,600,000	-20,400,000	-27,600,000	-38,800,000	-50,700,000	-60,900,000	-49,900,000	-117,200,000	-151,500,000	-54,900,000	-31,000,000	-39,400,000	-55,600,000		-7,000,000	0	-45,200,000	-33,400,000	-87,700,000
net (tax withholding) proceeds related to stock-based compensation	-100,000	-100,000	-700,000	-11,900,000	-200,000	10,200,000	-100,000	-18,300,000	0	-100,000	-100,000	-23,600,000	0	0	-200,000	-24,900,000	100,000	-200,000	0	-25,300,000		500,000	-500,000	-20,000,000	0	3,000,000
proceeds from settlement of fair value hedges
payments for settlement of fair value hedges	0	0	0	-13,500,000
other	0	-16,200,000							0	0	-100,000	-1,500,000																										0						0				0	-2,200,000	0	10,400,000	0	-5,400,000			-1,500,000	200,000	-4,900,000	700,000	5,100,000	4,600,000	-2,700,000		-900,000	-3,200,000	3,900,000	4,800,000	200,000	-1,000,000	-800,000	-1,700,000	5,800,000	-2,100,000	-2,300,000	-2,500,000		-1,200,000	-3,500,000	200,000
net cash from financing activities	-219,300,000	52,900,000	-163,600,000	-84,900,000	-156,300,000	-217,700,000	-117,100,000	-85,000,000	-194,500,000	-305,800,000	-116,700,000	299,800,000	-204,700,000	-172,800,000	-182,600,000	-55,100,000	-195,800,000	1,067,700,000	-187,400,000	-80,200,000		-205,800,000	-617,600,000	773,700,000	-156,900,000	-178,500,000						-135,800,000	21,900,000	194,700,000			47,100,000						12,300,000			66,100,000		-36,200,000	34,600,000	-232,000,000	-199,900,000	18,900,000	141,500,000	-104,300,000	-146,500,000	52,500,000	-164,200,000	-82,700,000	-14,700,000	-152,000,000	35,200,000	-800,000		-121,300,000	1,234,700,000	57,300,000	-178,800,000	-90,600,000	-25,600,000	-110,900,000	-83,700,000	8,500,000	-52,000,000	-78,500,000	-16,100,000				21,600,000
effect of foreign currency translation on cash balances	400,000	-1,200,000	2,800,000	1,200,000	-4,900,000	2,200,000	-700,000	-2,100,000	2,500,000	-1,700,000	-1,800,000	-1,000,000	600,000	-4,200,000	-4,900,000	-100,000	-500,000	-1,500,000	1,400,000	-2,200,000		5,000,000	1,000,000	-4,200,000	2,300,000	-4,800,000	-2,000,000	1,000,000			4,700,000	4,300,000	3,800,000	1,800,000			900,000							200,000	1,200,000	700,000	1,600,000	-1,900,000	700,000	600,000	300,000	1,200,000	1,400,000	2,300,000	-700,000	-200,000	1,400,000	1,700,000	-1,200,000	-2,000,000	600,000	900,000		700,000	700,000	-100,000	300,000	0	600,000	0	-100,000	200,000	200,000	-400,000	500,000		-1,700,000	2,600,000	800,000
increase in cash and cash equivalents	-333,500,000	320,400,000	20,000,000	-133,200,000	116,400,000	3,900,000	23,100,000	-29,300,000	5,100,000	-7,200,000	-134,200,000	184,100,000	39,000,000	-36,600,000	17,700,000	-15,600,000	-44,500,000	-137,600,000	16,800,000	75,700,000		22,100,000	-479,400,000	488,300,000								22,900,000	-85,500,000	99,800,000	-26,700,000	46,500,000	10,800,000												12,700,000	58,300,000	-5,700,000	5,000,000	-7,100,000	8,900,000	5,300,000	5,500,000	0	8,900,000	-22,500,000	-5,800,000	13,900,000	1,700,000		700,000								-31,800,000			1,800,000		-11,300,000
cash and cash equivalents, beginning of year	0	0	0	329,100,000	0	0	0	215,000,000	0	0	0	167,200,000	0	0	0	162,700,000	0	0	0	252,300,000		0	0	253,700,000	0	0	0	232,000,000	0	0	224,400,000	0	0	195,100,000	0	0	158,800,000	0	0	227,000,000	0	0	351,600,000	0	0	235,400,000	0	0	178,000,000	0	0	0	127,500,000	0	0	138,100,000	0	0	105,500,000	0	0	71,500,000
cash and cash equivalents, end of year
changes in assets and liabilities and other adjustments		31,700,000	-84,300,000	-286,000,000		-20,400,000	-111,700,000	-164,300,000		94,200,000	11,300,000	-218,300,000		-78,900,000	-55,300,000	-179,600,000		50,400,000	-8,900,000	-78,000,000		13,700,000	24,600,000	-225,600,000		17,600,000																						-109,200,000	-126,600,000		78,800,000	-135,700,000	-259,000,000
cash and cash equivalents, end of period		320,400,000	20,000,000	195,900,000		3,900,000	23,100,000	185,700,000		-7,200,000	-134,200,000	351,300,000		-36,600,000	17,700,000	147,100,000		-137,600,000	16,800,000	328,000,000		22,100,000	-479,400,000	742,000,000		-23,100,000	21,600,000	225,700,000	1,800,000	28,300,000	187,500,000	22,900,000	-85,500,000	294,900,000	-26,700,000	46,500,000	169,600,000	-74,300,000	33,500,000	212,500,000	-26,300,000	16,800,000	205,100,000	98,000,000	3,900,000	207,700,000	29,300,000	-29,300,000	190,700,000		-5,700,000	5,000,000	120,400,000	8,900,000	5,300,000	143,600,000	0	8,900,000	83,000,000	-5,800,000	13,900,000	73,200,000		700,000	18,700,000	57,900,000	1,700,000	10,000,000	39,100,000	44,500,000	-22,000,000	53,000,000	41,900,000	-3,300,000	31,300,000		-11,300,000	9,700,000	33,200,000
proceeds from sale of venture investment
proceeds from sale of product line and venture investment
pension plan settlements and related charges																									-2,800,000	0	0	446,900,000
additional borrowings under revolving credit facility																						0	0	500,000,000
repayments of borrowings under revolving credit facility
pension plan settlement loss																		600,000	0	400,000
proceeds from sale of product line																	900,000	0	0	6,700,000																											0
payments for acquisitions, net of cash acquired, and investments in businesses														0	-3,600,000	-33,400,000	-3,300,000	-1,440,500,000	-3,200,000	-30,600,000
net increase (decrease) in borrowings with maturities of three months or less
repayments of revolving credit facility																						0
net increase in borrowings																				53,800,000		-149,600,000	198,500,000	-106,000,000		-44,000,000	-42,500,000	155,400,000	193,100,000	4,000,000	104,300,000				137,400,000	-64,800,000	169,400,000			64,200,000			90,400,000			135,100,000	200,000	61,100,000	134,100,000		-173,600,000	44,800,000	185,900,000		-42,400,000	90,500,000		-24,400,000	89,800,000	-101,200,000	75,700,000	-360,800,000		-160,800,000	1,284,800,000	139,100,000		-64,200,000	8,500,000	-71,300,000	-48,400,000	103,600,000
payments of contingent consideration																									0	0
•
payments for acquisition, net of cash acquired, and investments in businesses																						-10,000,000	-6,900,000	-245,900,000
provision for doubtful accounts and sales returns																									16,300,000	15,600,000	12,000,000	14,800,000	11,200,000	10,200,000	12,900,000	8,300,000	8,300,000	11,500,000	12,500,000	10,100,000	11,200,000	21,400,000	5,400,000	9,800,000	5,000,000					5,500,000

proceeds from insurance and (purchases) sales of investments																									1,400,000	-800,000
payments for investments in businesses and acquisitions, net of cash acquired
net decrease in borrowings
deferred income taxes and other non-cash taxes																										-9,800,000
payments for investments in businesses																										0
decrease in cash and cash equivalents																																																																		-600,000	1,700,000	10,000,000	-59,400,000
other non-cash expense and loss																												3,300,000	13,400,000	13,900,000	14,200,000	12,900,000	12,900,000	15,200,000	10,600,000	11,300,000	12,800,000	12,200,000	13,100,000	13,600,000	6,200,000	14,100,000	11,800,000	12,000,000	13,500,000	14,700,000	11,200,000	10,100,000	11,000,000	4,900,000	9,800,000	9,500,000	13,900,000	12,000,000	11,900,000	9,600,000	4,100,000
net losses from impairments, sales of assets, and investment settlements																													-2,500,000	-1,400,000	9,800,000
loss from settlement of pension obligations																													6,700,000	200,000	500,000				0
deferred income taxes
sales (purchases) of investments and proceeds from insurance																													15,400,000
repayments of long-term debt and capital leases
proceeds from exercises of stock options																													800,000	0	200,000	200,000	1,100,000	16,400,000	22,000,000	25,400,000	16,000,000	17,100,000	45,300,000	16,000,000
tax withholding for stock-based compensation
sales of investments and proceeds from insurance																															300,000
repayments of long-term debt
net losses from asset impairments and sales/disposals of assets																																1,800,000	-100,000	700,000	600,000	2,600,000	600,000	-200,000	10,000,000	1,100,000
purchases of investments
tax withholding for and excess tax benefit from stock-based compensation
payments for acquisitions, net of cash acquired
payments of debt																																																-200,000	-600,000	-200,000	-300,000	-300,000	-700,000	-500,000	-325,100,000	-15,100,000	-19,800,000	-15,300,000	-58,100,000	-400,000	-200,000	-100,000		-170,200,000	-11,600,000	-100,000	-900,000	-300,000	-1,100,000	-3,300,000	-74,000,000	-60,200,000	-41,000,000	-53,900,000	-110,100,000		-34,400,000	8,900,000	-372,800,000
loss on sale of businesses
indefinite-lived intangible asset impairment charge
(purchases) sales of investments
net cash provided by (used in) operating activities																																								8,300,000
net cash provided by financing activities																																								6,000,000
other non-cash income and gain																																																		-100,000	0	0	-1,900,000				0
sales of investments																																										0	100,000
proceeds from sale of businesses, net of cash provided
additional borrowings																																												0										0						0	0	400,100,000								0	75,900,000	300,000	24,900,000	6,500,000	123,200,000		1,300,000	-15,200,000	428,400,000
net loss from asset impairments and sale/disposal of assets
net cash provided by operating activities
proceeds from sale of property, plant and equipment																																										500,000	100,000	5,000,000
net increase
proceeds from exercise of stock options																																										5,900,000	12,500,000	7,800,000	6,000,000	26,400,000	900,000	800,000	3,900,000	0	900,000	1,100,000	1,900,000	500,000	600,000	1,000,000		0	200,000	400,000	400,000	1,500,000		3,900,000	15,000,000	15,500,000	5,800,000	12,800,000	5,800,000	1,700,000	400,000	2,700,000	900,000	5,900,000	8,100,000		200,000	400,000	1,700,000
cash and cash equivalents classified as held for sale
benefit from doubtful accounts and sales returns																																											7,300,000	4,600,000
net income from asset impairments and sale/disposal of assets																																											800,000
change in assets and liabilities and other adjustments
gain on sale of businesses
asset impairment and net (gain) loss on sale/disposal of assets
sale of investments																																												500,000	0	100,000
net
asset impairment and net loss on sale/disposal of assets																																														400,000
provision for doubtful accounts																																															7,300,000	3,300,000	6,100,000	4,100,000
asset impairment and net loss on sale and disposal of assets																																															1,300,000	1,200,000	5,100,000
proceeds from sales (purchases) of investments																																															400,000
purchase of property, plant and equipment																																																	-24,000,000	-28,900,000	-23,000,000	-25,100,000	-28,000,000			-13,700,000	-16,200,000	-14,800,000	-15,700,000	-28,700,000	-30,700,000	-38,400,000	-54,200,000	-41,600,000	-38,300,000	-56,400,000	-30,100,000	-29,000,000	-51,500,000	-40,300,000	-32,900,000	-43,900,000	-38,400,000	-39,300,000	-37,900,000	-53,100,000	-44,600,000	-62,800,000	-40,900,000
purchase of software and other deferred charges																																																	-12,000,000	-6,900,000	-3,000,000	-12,400,000	-3,700,000			-5,500,000	-5,500,000	-6,700,000	-8,200,000	-16,200,000	-16,500,000	-16,500,000	-24,400,000	-10,900,000	-14,000,000	-15,000,000	-8,500,000	-6,900,000	-8,800,000	-5,600,000
proceeds from sale of investments																																																	2,700,000					-200,000	100,000	300,000	200,000	-500,000	600,000	3,200,000
purchase of treasury stock																																																	-72,200,000	0	0	0	-13,500,000											0	-4,800,000	-58,400,000							-100,000	-100,000	-300,000		-200,000	200,000	-100,000
goodwill and indefinite-lived intangible asset impairment charges																																																									0	0	832,000,000
asset impairment, gain on sale of product line of 5.6 in 2011, and net loss on sale/disposal of assets of 2.7, 2.8, and 9.4 in 2011, 2010, and 2009, respectively
loss from debt extinguishments
other current assets
accrued liabilities
deferred taxes																																																													-11,300,000	-21,500,000		-900,000	3,500,000	-100,000	14,600,000	3,600,000	100,000	20,900,000	-600,000	-600,000	-1,400,000	9,400,000	800,000		8,300,000	5,900,000	-8,300,000
long-term retirement benefits and other liabilities
proceeds from sale of product lines
loss from debt extinguishment
(purchase) proceeds from sale of investments																																																			-300,000	100,000	-800,000
benefit from doubtful accounts																																																				2,600,000	4,800,000	1,600,000	4,600,000	9,000,000	6,800,000	3,400,000	6,100,000
asset impairment and net income on sale and disposal of assets																																																				600,000	7,900,000		400,000	700,000	12,900,000	2,700,000	25,300,000	2,000,000	4,900,000	9,500,000
income from debt extinguishment																																																						0			0	0	21,200,000
asset impairment and net (gain) loss on sale and disposal of assets
changes in assets and liabilities and other adjustments, net of the effect of business acquisitions																																																						-11,200,000	600,000	-171,200,000	29,800,000	2,400,000	-51,900,000
payments for acquisitions																																																												-5,600,000				-1,100,000						-2,100,000			-12,000,000	0	-2,300,000		-1,900,000	-1,000,000	-6,600,000
other non-cash items																																																											4,600,000	7,300,000	-13,900,000	-2,300,000		2,300,000	-7,400,000	-2,500,000	1,400,000	3,100,000	3,600,000	-3,300,000	-100,000	-4,500,000
changes in assets and liabilities																																																													-15,600,000	-74,000,000
proceeds from sale of assets																																																													0	3,200,000		1,100,000	0	1,700,000	300,000	-4,300,000	5,200,000	3,800,000	11,300,000	5,200,000	2,400,000	4,900,000	900,000		2,000,000	600,000	4,400,000
free cash flow
net sales
cost of products sold
gross profit
marketing, general and administrative expense
interest expense
other income
income from continuing operations before taxes
asset impairment and net gain on sale and disposal of assets																																																																23,300,000
changes in assets and liabilities, net of the effect of business acquisitions and divestitures																																																																22,800,000	-31,200,000	-120,600,000	75,000,000	-49,600,000	-101,600,000	40,300,000	-50,500,000	-105,400,000	33,100,000	-11,500,000	-40,200,000
proceeds from sale of businesses and investments																																																																			200,000
cash and cash equivalents, beginning of period																																																																	0	58,500,000	0	0	98,500,000	0	0	84,800,000	0	0	29,500,000		0	0	22,800,000
asset impairment and net gain on sale of assets																																																																		2,300,000			1,200,000
proceeds from sale of business
net (gain) loss on sale of assets and asset impairment
asset impairment and net (gain) loss on sale of assets																																																																							2,200,000	300,000
purchase of software and other assets																																																																								-4,900,000	-8,600,000	-2,500,000	-6,300,000
operating activities:
less: income from discontinued operations, net of tax
income from continuing operations																																																																									75,000,000	68,500,000	52,600,000		64,800,000
adjustments to reconcile income from continuing operations to net cash from operating activities:
asset impairment and net income on sale of assets																																																																									-1,700,000	5,300,000	6,100,000		200,000
other noncash items																																																																									900,000
investing activities:
financing activities:
(decrease)/increase in cash and cash equivalents
less: income from discontinued operations																																																																													1,700,000
adjustments to reconcile net income from continuing operations to net cash from operating activities:
income from discontinued operations, net of tax
net cash from operating activities from continuing operations																																																																												68,400,000	113,200,000
income from continuing operations before taxes and accounting change
income from continuing operations before accounting change
income before accounting change
cumulative effect of accounting change, net of tax
changes in assets and liabilities, net of the effect of foreign currency translation, business acquisitions and divestitures																																																																													-4,900,000	-3,600,000	-68,400,000
purchase of software																																																																													-8,100,000	300,000	-7,400,000
net cash from investing activities of continuing operations																																																																													-53,800,000
net cash from financing activities of continuing operations																																																																													-69,000,000
increase/(decrease) in cash and cash equivalents																																																																															10,400,000
asset impairment and lease cancellation costs

Avery Dennison Corporation(NYSE:AVY)

Avery Dennison Corporation
(NYSE:AVY)