Avery Dennison (AVY) 10-Q 30 Oct 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 29, 2018	Oct. 27, 2018
Document and Entity Information
Entity Registrant Name	Avery Dennison Corp
Entity Central Index Key	8,818
Document Type	10-Q
Document Period End Date	Sep. 29, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-29
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		86,710,248
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 29, 2018	Dec. 30, 2017
Current assets:
Cash and cash equivalents	$ 217.6	$ 224.4
Trade accounts receivable, less allowances of $24.6 and $36.2 at September 29, 2018 and December 30, 2017, respectively	1,235.7	1,180.3
Inventories, net	682.5	609.6
Assets held for sale	3.6	6.3
Other current assets	219.4	217.3
Total current assets	2,358.8	2,237.9
Property, plant and equipment, net	1,086.9	1,097.9
Goodwill	953.1	985.1
Other intangibles resulting from business acquisitions, net	148.6	166.3
Non-current deferred income taxes	195.1	196.3
Other assets	439.4	453.4
Total assets	5,181.9	5,136.9
Current liabilities:
Short-term borrowings and current portion of long-term debt and capital leases	571.7	265.4
Accounts payable	1,048	1,007.2
Accrued payroll and employee benefits	203.6	248.5
Other current liabilities	534.9	450.7
Total current liabilities	2,358.2	1,971.8
Long-term debt and capital leases	1,295.3	1,316.3
Long-term retirement benefits and other liabilities	353.5	629.3
Non-current deferred and payable income taxes	127.8	173.3
Commitments and contingencies (see Note 13)
Shareholders' equity:
Common stock, $1 par value per share, authorized - 400,000,000 shares at September 29, 2018 and December 30, 2017; issued - 124,126,624 shares at September 29, 2018 and December 30, 2017; outstanding - 87,013,446 shares and 88,011,541 shares at September 29, 2018 and December 30, 2017, respectively	124.1	124.1
Capital in excess of par value	862.4	862.6
Retained earnings	2,809.4	2,596.7
Treasury stock at cost, 37,113,178 shares and 36,115,083 shares at September 29, 2018 and December 30, 2017, respectively	(2,008.4)	(1,856.7)
Accumulated other comprehensive loss	(740.4)	(680.5)
Total shareholders' equity	1,047.1	1,046.2
Total liabilities and shareholders' equity	$ 5,181.9	$ 5,136.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 29, 2018	Dec. 30, 2017
CONDENSED CONSOLIDATED BALANCE SHEETS
Trade accounts receivable, allowances (in dollars)	$ 24.6	$ 36.2
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized shares	400,000,000	400,000,000
Common stock, issued shares	124,126,624	124,126,624
Common stock, outstanding shares	87,013,446	88,011,541
Treasury stock, shares	37,113,178	36,115,083

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 1,759.7	$ 1,679.5	$ 5,390.3	$ 4,878.5
Cost of products sold	1,300.5	1,227.9	3,946.3	3,531.9
Gross profit	459.2	451.6	1,444	1,346.6
Marketing, general and administrative expense	270.5	273.5	853	824.1
Other (income) expense, net	(3)	10.8	66.9	27.5
Interest expense	14.7	16.8	42.2	49.7
Other non-operating expense	9	3.7	14.9	13.1
Income before taxes	168	146.8	467	432.2
Provision for income taxes	17.7	38.5	94.9	90.8
Equity method investment net losses	(0.8)		(1.8)
Net income	$ 149.5	$ 108.3	$ 370.3	$ 341.4
Per share amounts:
Net income per common share (in dollars per share)	$ 1.71	$ 1.23	$ 4.22	$ 3.86
Net income per common share, assuming dilution (in dollars per share)	1.69	1.20	4.16	3.79
Dividends per common share (in dollars per share)	$ 0.52	$ 0.45	$ 1.49	$ 1.31
Weighted average number of shares outstanding:
Common shares (in shares)	87.3	88.3	87.7	88.4
Common shares, assuming dilution (in shares)	88.5	89.9	89.1	90.1

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 149.5	$ 108.3	$ 370.3	$ 341.4
Other comprehensive (loss) income, net of tax:
Foreign currency translation	(32.1)	12.1	(83.7)	39.3
Pension and other postretirement benefits	11.8	5	23.5	14.6
Cash flow hedges	(0.4)	0.2	0.3	(1.1)
Other comprehensive (loss) income, net of tax	(20.7)	17.3	(59.9)	52.8
Total comprehensive income, net of tax	$ 128.8	$ 125.6	$ 310.4	$ 394.2

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017
Operating Activities
Net income	$ 370.3	$ 341.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	106.2	92.6
Amortization	29.8	42.2
Provision for doubtful accounts and sales returns	34.3	28.1
Net losses from impairments, sales of assets, and investment settlements	5.9	1.2
Stock-based compensation	24.8	22.2
Loss from settlement of pension obligations	7.4
Deferred income taxes	(7.8)	(7.6)
Other non-cash expense and loss	41.5	41
Changes in assets and liabilities and other adjustments	(424.7)	(171.2)
Net cash provided by operating activities	187.7	389.9
Investing Activities
Purchases of property, plant and equipment	(132.7)	(111.4)
Purchases of software and other deferred charges	(21.5)	(23.5)
Proceeds from sales of property, plant and equipment	9.4	3
Sales (purchases) of investments and proceeds from insurance, net	17.6	(2)
Payments for acquisitions, net of cash acquired, and investments in businesses	(0.2)	(309.5)
Net cash used in investing activities	(127.4)	(443.4)
Financing Activities
Net increase (decrease) in borrowings (maturities of three months or less)	301.4	(220.1)
Additional long-term borrowings		526.6
Repayments of long-term debt and capital leases	(4.4)	(2.5)
Dividends paid	(130.6)	(115.8)
Share repurchases	(175.1)	(104.8)
Proceeds from exercises of stock options, net	1	17.7
Tax withholding for stock-based compensation	(32.9)	(20.3)
Payments of contingent consideration	(17.3)
Net cash (used in) provided by financing activities	(57.9)	80.8
Effect of foreign currency translation on cash balances	(9.2)	9.9
(Decrease) increase in cash and cash equivalents	(6.8)	37.2
Cash and cash equivalents, beginning of year	224.4	195.1
Cash and cash equivalents, end of period	$ 217.6	$ 232.3

General

General	9 Months Ended
	Sep. 29, 2018
General
General	Note 1. General The unaudited Condensed Consolidated Financial Statements and notes thereto in this Quarterly Report on Form 10-Q are presented as permitted by Article 10 of Regulation S-X and do not contain certain information included in the audited Consolidated Financial Statements and notes thereto in our 2017 Annual Report on Form 10-K, which should be read in conjunction with this Quarterly Report on Form 10-Q. The accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments of a normal and recurring nature necessary for a fair statement of our interim results. Interim results of operations are not necessarily indicative of future results. Fiscal Periods The three and nine months ended September 29, 2018 and September 30, 2017 consisted of thirteen-week and thirty-nine week periods, respectively. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. Highly Inflationary Economy On July 1, 2018, we began accounting for our operations in Argentina as highly inflationary, as the country’s three-year cumulative inflation rate exceeded 100%. As a result, the functional currency of our Argentine subsidiary became the U.S. dollar. Accounting Guidance Updates Revenue Recognition In the first quarter of 2018, we adopted an accounting guidance update that provides a single comprehensive model on accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. We adopted this guidance using the modified retrospective method, which means that reporting periods beginning in 2018 are presented in accordance with this guidance, while prior period amounts continue to be reported in accordance with the previous guidance. As allowed by this guidance, we began to apply it to contracts with customers that were not completed as of the beginning of 2018. As a result of the adoption of this guidance, our allowance for customer returns, presented as a reduction of trade accounts receivable in prior years, is now presented as a returns liability in “Other current liabilities.” As of September 29, 2018, the returns liability was $12.6 million. Our adoption of this guidance did not have a material impact on our financial position, results of operations, or cash flows. The disclosures required by this guidance are included in Note 2, “Revenue Recognition,” and Note 14, “Segment and Disaggregated Revenue Information.” Presentation of Net Periodic Benefit Costs In the first quarter of 2018, we adopted an accounting guidance update that requires employers with defined benefit plans to present the service cost component of net periodic benefit cost in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period. Employers are required to present the other components of net periodic benefit cost, including gains or losses from settlements or terminations, separately from the line item(s) that includes the service cost and outside of any subtotal of operating income. Components other than the service cost component are no longer eligible for capitalization in assets. Employers are required to apply the portion of this guidance on the presentation of the components of net periodic benefit cost in the income statement retrospectively, while the portion of this guidance that limits the capitalization of net periodic benefit cost in assets to the service cost component must be applied prospectively. Prior year results have been reclassified as required by this guidance. The effects of our adoption of this guidance on our unaudited Condensed Consolidated Statements of Income for the prior year were as follows: Three Months Ended Nine Months Ended (In millions) September 30, 2017 September 30, 2017 As Reclassification As As Reclassification As Marketing, general and administrative expense $ $ ) $ $ $ ) $ Other non-operating expense – – Classification of Certain Cash Payments In the first quarter of 2018, we adopted an accounting guidance update that reduces the diversity in the presentation and classification of certain cash receipts and cash payments in statements of cash flows. Prior year results have been reclassified as required by this guidance. The effects of our adoption of this guidance, which primarily relate to the classification of corporate-owned life insurance cash flows, on our unaudited Condensed Consolidated Statements of Cash Flows for the prior year were as follows: Nine Months Ended September 30, 2017 (In millions) As Previously Reclassification As Reclassified Net cash provided by operating activities $ $ ) $ Net cash used in investing activities ) ) Intra-Entity Transfers of Assets Other Than Inventory In the first quarter of 2018, we adopted an accounting guidance update that requires companies to recognize the income tax effects of intra-entity sales and transfers of assets other than inventory in the period in which they occur. Upon adoption, we derecognized tax-related deferred charges and recognized deferred tax assets related to certain intra-entity asset transfers as a $14 million net reduction to retained earnings. Implementation Costs Incurred in a Cloud Computing Arrangement In the third quarter of 2018, we adopted an accounting guidance update that requires companies to capitalize implementation costs incurred in a hosting arrangement that is a service contract. We adopted this guidance early and on a prospective basis. Our adoption of this guidance did not have a material impact on our financial position, results of operations, or cash flows.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 29, 2018
Revenue Recognition
Revenue Recognition	Note 2. Revenue Recognition Sales are recognized when or as we satisfy a performance obligation by transferring control of a product or service to a customer, in an amount that reflects the consideration to which we expect to be entitled in exchange for the product or service. We consider a number of factors in determining when we have transferred control to a customer, including the following: (i) our present right to payment; (ii) the customer’s legal title to the asset; (iii) physical possession of the asset; (iv) the customer’s significant risks and rewards of ownership of the asset; and (v) the customer’s acceptance of the asset. Generally, payment terms with our customers are consistent with those used in our industries and the regions in which we operate. Sales returns are accepted in certain limited circumstances. We record an estimate for returns liabilities and a corresponding reduction to sales, in the amount we expect to repay or credit customers, which we base on historical returns and outstanding customer claims. Changes in estimates are updated each reporting period. Sales rebates, discounts, and other customer concessions are common in the industries in which we operate and are accounted for as a reduction to sales based on estimates at the time at which products are sold. These estimates are based on our historical experience, as well as current information such as sales forecasts. We review our estimates regularly and, as additional information becomes available, we adjust our sales and the respective accruals, if necessary. Sales tax, value-added tax, and other taxes we collect from customers are excluded from sales. Shipping and handling activities after control of a product is transferred to a customer are accounted for as a fulfillment cost and not as a separate performance obligation. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of less than one year. We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Income Statements. Deferred Revenue Deferred revenue primarily relates to constrained variable consideration on supply agreements for sales of products, as well as to payments received in advance of performance under a contract. Deferred revenue is recognized as revenue as or when we perform under a contract. The following table shows the amounts and balance sheet locations of deferred revenue as of September 29, 2018 and December 30, 2017: (In millions) September 29, 2018 December 30, 2017 Other current liabilities $ $ Long-term retirement benefits and other liabilities .3 .4 Total deferred revenue $ $ Revenue recognized from amounts included in deferred revenue as of December 30, 2017 was $1.1 million and $11.4 million for the three and nine months ended September 29, 2018, respectively, which was included in “Net sales” in the unaudited Condensed Consolidated Statements of Income.

Goodwill

Goodwill	9 Months Ended
	Sep. 29, 2018
Goodwill
Goodwill	Note 3. Goodwill Changes in the net carrying amount of goodwill for the nine months ended September 29, 2018 by reportable segment were as follows: (In millions) Label and Retail Branding Industrial and Total Goodwill as of December 30, 2017 $ $ $ $ Acquisition adjustments (1) – – ) ) Translation adjustments ) ) ) ) Goodwill as of September 29, 2018 $ $ $ $ (1) Goodwill purchase price allocation adjustments and measurement period adjustments for contingent consideration liabilities, in each case related to the acquisition of Yongle Tape Ltd. completed in June 2017. The carrying amounts of goodwill at September 29, 2018 and December 30, 2017 were net of accumulated impairment losses of $820 million recognized in fiscal year 2009 by our Retail Branding and Information Solutions (“RBIS”) reportable segment.

Debt

Debt	9 Months Ended
	Sep. 29, 2018
Debt
Debt	Note 4. Debt In March 2017, we issued €500 million of senior notes, due March 2025. The senior notes bear an interest rate of 1.25% per year, payable annually in arrears. The net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses, were $526.6 million (€495.5 million), a portion of which was used to repay commercial paper borrowings that we used to finance a portion of our acquisition of the European business of Mactac and the remainder of which was used for general corporate purposes, including other acquisitions. We designate a portion of these senior notes as a net investment hedge of our investment in foreign operations. Refer to Note 8, “Financial Instruments,” for more information. The estimated fair value of our long-term debt is primarily based on the credit spread above U.S. Treasury securities or euro government bond securities, as applicable, on notes with similar rates, credit ratings, and remaining maturities. The fair value of short-term borrowings, which includes commercial paper issuances and short-term lines of credit, approximates the carrying value given the short duration of these obligations. The fair value of our total debt was $1.86 billion at September 29, 2018 and $1.60 billion at December 30, 2017. Fair value amounts were determined based primarily on Level 2 inputs, which are inputs other than quoted prices in active markets that are either directly or indirectly observable. Our $800 million revolving credit facility (the “Revolver”) contains financial covenants requiring that we maintain specified ratios, including total debt and interest expense in relation to certain measures of income. No balance was outstanding under the Revolver as of September 29, 2018 or December 30, 2017. As of September 29, 2018 and December 30, 2017, we were in compliance with our financial covenants.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Sep. 29, 2018
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits	Note 5. Pension and Other Postretirement Benefits Defined Benefit Plans We sponsor a number of defined benefit plans, the accrual of benefits under some of which have been frozen, covering eligible employees in the U.S. and certain other countries. Benefits payable to an employee are based primarily on years of service and the employee’s compensation during the course of his or her employment with us. We are also obligated to pay unfunded termination indemnity benefits to certain employees outside of the U.S., which are subject to applicable agreements, laws and regulations. We have not incurred significant costs related to these benefits, and, therefore, no related costs are included in the disclosures below. The following table sets forth the components of net periodic benefit cost (credit), which are recorded in income, for our defined benefit plans: Pension Benefits Three Months Ended Nine Months Ended September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 (In millions) U.S. Int’l U.S. Int’l U.S. Int’l U.S. Int’l Service cost $ – $ $ .1 $ $ – $ $ .3 $ Interest cost Actuarial (gain) loss (.6 ) – .2 – ) – – Expected return on plan assets ) ) ) ) ) ) ) ) Recognized net actuarial loss Amortization of prior service cost (credit) .2 (.1 ) .3 (.1 ) .6 (.4 ) .7 (.3 ) Recognized loss on settlements (1) .1 – – .1 – – Net periodic benefit cost $ $ $ $ $ $ $ $ (1) In 2018, settlements in the U.S. were related to lump-sum payments associated with two nonqualified benefit plans. U.S. Postretirement Health Benefits Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Interest cost $ – $ – $ – $ .1 Recognized net actuarial loss .4 .4 Amortization of prior service credit (.8 ) (.9 ) ) ) Net periodic benefit credit $ (.4 ) $ (.5 ) $ ) $ ) Service cost and components of net periodic benefit cost other than service cost were included in “Marketing, general and administrative expense” and “Other non-operating expense” in the unaudited Condensed Consolidated Statements of Income, respectively. Refer to Note 1, “General,” for more information. In July 2018, our Board of Directors (“Board”) approved the termination of the Avery Dennison Pension Plan (the “ADPP”), a U.S. defined benefit plan, effective as of September 28, 2018. In connection with the termination, we contributed $200 million to the ADPP in August 2018 using U.S. commercial paper borrowings. The ADPP’s net pension benefit obligation based on 2017 year end discount rates was underfunded by approximately $24 million as of September 29, 2018. We expect to settle the long-term liability associated with the ADPP termination through a combination of (i) lump-sum payments in 2018 to eligible participants who elect to receive them and (ii) the purchase of a group annuity contract from one or more yet-to-be-identified highly rated insurance companies in the first half of 2019. The actual amount of our long-term liability when it is transferred will depend upon the nature and timing of participant settlements, as well as prevailing market conditions. We currently estimate the total non-cash charge associated with the termination of the ADPP to be between $575 million and $600 million, approximately $100 million of which we expect to recognize during the fourth quarter of 2018 and the remainder of which we expect to recognize at the time the remaining pension liability is transferred in 2019.

Long-Term Incentive Compensatio

Long-Term Incentive Compensation	9 Months Ended
	Sep. 29, 2018
Long-Term Incentive Compensation
Long-Term Incentive Compensation	Note 6. Long-Term Incentive Compensation Stock-Based Awards Stock-based compensation expense was $8.4 million and $24.8 million for the three and nine months ended September 29, 2018, respectively, and $9 million and $22.2 million for the three and nine months ended September 30, 2017, respectively. This expense was included in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Statements of Income. As of September 29, 2018, we had approximately $48 million of unrecognized compensation expense related to unvested stock-based awards, which is expected to be recognized over the remaining weighted-average requisite service period of approximately two years. Cash-Based Awards The compensation expense related to long-term incentive units was $3.9 million and $12.7 million for the three and nine months ended September 29, 2018, respectively, and $7.8 million and $24.6 million for the three and nine months ended September 30, 2017, respectively. This expense was included in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Statements of Income.

Cost Reduction Actions

Cost Reduction Actions	9 Months Ended
	Sep. 29, 2018
Cost Reduction Actions
Cost Reduction Actions	Note 7. Cost Reduction Actions 2018 Plan In April 2018, we approved a restructuring plan (the “2018 Plan”) associated with the consolidation of the European footprint of our Label and Graphic Materials (“LGM”) reportable segment that is expected to result in a headcount reduction of 350 to 400 positions related to the closure of a manufacturing facility. This reduction is expected to be partially offset by headcount additions in other locations, resulting in a net reduction of approximately 150 positions. We expect the 2018 Plan to be largely complete by the end of 2019. During the nine months ended September 29, 2018, we recorded $54.8 million in restructuring charges, net of reversals, related to the 2018 Plan. These charges consisted of severance and related costs for the reduction of approximately 345 positions, as well as asset impairment charges. During the three months ended September 29, 2018, we recorded a reduction in restructuring charges related to the 2018 Plan due to a change in management’s estimate of severance and related costs. 2015/2016 Actions During the nine months ended September 29, 2018, we recorded $10.9 million in restructuring charges, net of reversals, related to restructuring actions initiated during the third quarter of 2015 (“2015/2016 Actions”). These charges consisted of severance and related costs for the reduction of approximately 500 positions, lease cancellation costs, and asset impairment charges. Accruals for severance and related costs and lease cancellation costs were included in “Other current liabilities” in the unaudited Condensed Consolidated Balance Sheets. Asset impairment charges were based on the estimated market value of the assets, less selling costs, if applicable. Restructuring charges were included in “Other expense, net” in the unaudited Condensed Consolidated Statements of Income. During the nine months ended September 29, 2018, restructuring charges and payments were as follows: (In millions) Accrual at Charges Cash Non-cash Foreign Accrual at 2018 Plan Severance and related costs $ – $ $ ) $ – $ (.3 ) $ Asset impairment charges – – ) – – 2015/2016 Actions Severance and related costs ) – – – Lease cancellation costs .6 .8 ) – – .4 Asset impairment charges – – ) – – Total $ $ $ ) $ ) $ (.3 ) $ The table below shows the total amount of restructuring charges, net of reversals, incurred by reportable segment: Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Restructuring charges, net of reversals, by reportable segment Label and Graphic Materials $ ) $ $ $ Retail Branding and Information Solutions Industrial and Healthcare Materials – – .2 .2 Total $ ) $ $ $

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 29, 2018
Financial Instruments
Financial Instruments	Note 8. Financial Instruments We enter into foreign exchange hedge contracts to reduce our risk from foreign exchange rate fluctuations associated with receivables, payables, loans and firm commitments denominated in certain foreign currencies that arise primarily as a result of our operations outside the U.S. We enter into interest rate contracts to help manage our exposure to certain interest rate fluctuations. We also enter into futures contracts to hedge certain price fluctuations for a portion of our anticipated domestic purchases of natural gas. The maximum length of time for which we hedge our exposure to the variability in future cash flows for forecasted transactions is 36 months. As of September 29, 2018, the aggregate U.S. dollar equivalent notional value of our outstanding commodity contracts and foreign exchange contracts was $3.8 million and $1.44 billion, respectively. We recognize derivative instruments as either assets or liabilities at fair value in the unaudited Condensed Consolidated Balance Sheets. We designate commodity forward contracts on forecasted purchases of commodities and foreign exchange contracts on forecasted transactions as cash flow hedges. We also enter into foreign exchange contracts to offset risks arising from foreign exchange rate fluctuations. The following table shows the fair values and balance sheet locations of cash flow hedges as of September 29, 2018 and December 30, 2017: Asset (In millions) Balance Sheet Location September 29, 2018 December 30, 2017 Foreign exchange contracts Other current assets $ .7 $ .4 Liability (In millions) Balance Sheet Location September 29, 2018 December 30, 2017 Foreign exchange contracts Other current liabilities $ $ .6 Commodity contracts Long-term retirement benefits and other liabilities .1 – $ $ .6 The following table shows the fair values and balance sheet locations of other derivatives as of September 29, 2018 and December 30, 2017: Asset (In millions) Balance Sheet Location September 29, 2018 December 30, 2017 Foreign exchange contracts Other current assets $ $ Liability (In millions) Balance Sheet Location September 29, 2018 December 30, 2017 Foreign exchange contracts Other current liabilities $ $ Cash Flow Hedges For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of “Accumulated other comprehensive loss” and reclassified into earnings in the same period(s) during which the hedged transaction impacts earnings. Gains and losses on the derivatives, representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness, are recognized in current earnings. Gains (losses), before taxes, recognized in “Accumulated other comprehensive loss” (effective portion) on derivatives related to cash flow hedge contracts were as follows: Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Foreign exchange contracts $ .7 $ $ $ ) Commodity contracts – – – (.4 ) Total $ .7 $ $ $ ) Neither the amount recognized in income related to the ineffective portion of, nor the amount excluded from, effectiveness testing for cash flow hedges and derivatives not designated as hedging instruments was material for the three and nine months ended September 29, 2018 or September 30, 2017. As of September 29, 2018, we did not expect a significant amount to be reclassified from “Accumulated other comprehensive loss” to earnings within the next 12 months. Other Derivatives For other derivative instruments, which are not designated as hedging instruments, the gain or loss is recognized in current earnings. These derivatives are intended to offset certain of our economic exposures. The following table shows the components of the net gains (losses) recognized in income related to these derivative instruments. Three Months Ended Nine Months Ended (In millions) Location of Net Gains September 29, September 30, September 29, September 30, Foreign exchange contracts Cost of products sold $ $ (.1 ) $ $ ) Foreign exchange contracts Marketing, general and administrative expense ) ) ) Total $ $ ) $ ) $ ) Net Investment Hedge In March 2017, we designated €500 million of our 1.25% senior notes due 2025 as a net investment hedge of our investment in foreign operations. In January 2018, we reduced the amount we designate as a net investment hedge to €255 million. The net assets from the investment in foreign operations were greater than the senior notes, and as such, the net investment hedge was effective. Gains (losses), before tax, recognized in “Accumulated other comprehensive loss” (effective portion) related to the net investment hedge were as follows: Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Foreign currency denominated debt $ ) $ ) $ ) $ ) We recorded no ineffectiveness from our net investment hedge in net income during the three or nine months ended September 29, 2018 and September 30, 2017.

Taxes Based on Income

Taxes Based on Income	9 Months Ended
	Sep. 29, 2018
Taxes Based on Income
Taxes Based on Income	Note 9. Taxes Based on Income The following table summarizes our income before taxes, provision for income taxes, and effective tax rate: Three Months Ended Nine Months Ended (In millions, except percentages) September 29, September 30, September 29, September 30, Income before taxes $ $ $ $ Provision for income taxes Effective tax rate % % % % Our effective tax rate for the three and nine months ended September 29, 2018 compared to the same periods last year reflected a decrease in the U.S. federal statutory tax rate from 35% to 21%, offset by net tax charges related to certain U.S. international tax provisions, the loss of domestic manufacturing deductions, and limitations on the deductibility of our executive compensation, all as a result of the Tax Cuts and Jobs Act (“TCJA”) enacted in December 2017. Our effective tax rate for the three and nine months ended September 29, 2018 included net discrete tax benefits of $36.6 million and $37.3 million, respectively, reflecting return to provision adjustments recognized in the third quarter primarily related to an incremental $31 million tax benefit from our U.S. pension plan contributions and an $8.6 million tax benefit from recognition of a net foreign currency loss, both of which were deducted at a tax rate higher than 21%, concurrent with the completion of our 2017 U.S. federal income tax return. The $31 million tax benefit was related to the ADPP termination approved by our Board in July 2018, as well as lump-sum payments associated with two U.S. nonqualified benefit plans. Refer to Note 5, “Pension and Other Postretirement Benefits,” to the unaudited Condensed Consolidated Financial Statements for more information. The $8.6 million tax benefit was related to our election of a mark-to-market method of accounting on our 2017 U.S. federal income tax return to realize certain fair value adjustments. Our effective tax rate for the nine months ended September 29, 2018 also included net tax charges related to: (i) the effects of certain U.S . international tax provisions imposed by TCJA, such as Global Intangible Low-taxed Income (“GILTI”), Base Erosion Antiabuse Tax (“BEAT”), and Foreign Derived Intangible Income (“FDII”); (ii) tax charges for foreign withholding taxes on our current year earnings; and (iii) discrete items primarily from excess tax benefits associated with stock-based payments and changes in our uncertain tax positions. Our effective tax rate for the nine months ended September 30, 2017 included net tax benefits related to releases of valuation allowance on certain U.S. state deferred tax assets and changes in our uncertain tax positions. Our effective tax rate for the three and nine months ended September 29, 2018 also included certain measurement period adjustments to our 2017 provisional amounts related to the enactment of the TCJA in accordance with guidance provided under SEC Staff Accounting Bulletin No. 118 (“SAB 118”). SAB 118 provides for a measurement period up to one year from the enactment of the TCJA within which we must complete our final assessment of the legislation’s impact. For the nine months ended September 29, 2018, we adjusted our provisional amounts by recognizing net tax charges of $2.7 million. This amount included: (i) $3.6 million of charges for changes in our indefinite reinvestment assertions related to our investments in certain foreign subsidiaries after information required to make such determinations was obtained; (ii) an $8. 5 million of charge for adjustments made to the one-time transition tax, primarily due to a change in filing position and regulatory guidance subsequently issued by the Internal Revenue Service (“IRS”); and (iii) a $9.4 million of benefit from releasing a previously recorded uncertain tax position after the position was not included on our 2017 U.S. federal income tax return. We have not finalized any aspects of the previously disclosed provisional amounts. Furthermore, we have not yet made a determination on our accounting policy choice related to our GILTI provision nor have we completed the assessment of our indefinite reinvestment assertions. We will continue to assess any future guidance and accounting interpretations on the effects of the TCJA and expect to complete our analysis within the measurement period afforded by SAB 118. The amount of income taxes we pay is subject to ongoing audits by taxing jurisdictions around the world. Our estimate of the potential outcome of any uncertain tax issue is subject to our assessment of the relevant risks, facts, and circumstances existing at the time. We believe that we have adequately provided for reasonably foreseeable outcomes related to these matters. However, our future results may include favorable or unfavorable adjustments to our estimated tax liabilities in the period the assessments are made or resolved, which may impact our effective tax rate. We and our U.S. subsidiaries completed the IRS’ Compliance Assurance Process Program for 2016 in the second quarter of 2018. With some exceptions, our foreign subsidiaries are no longer subject to income tax examinations by tax authorities for years prior to 2006. It is reasonably possible that, during the next 12 months, we may realize a decrease in our uncertain tax positions, including interest and penalties, of approximately $29 million, primarily as a result of audit settlements and closing tax years.

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Sep. 29, 2018
Net Income Per Common Share
Net Income Per Common Share	Note 10. Net Income Per Common Share Net income per common share was computed as follows: Three Months Ended Nine Months Ended (In millions, except per share amounts) September 29, September 30, September 29, September 30, (A) Net income available to common shareholders $ $ $ $ (B) Weighted average number of common shares outstanding Dilutive shares (additional common shares issuable under stock-based awards) (C) Weighted average number of common shares outstanding, assuming dilution Net income per common share: (A) ÷ (B) $ $ $ $ Net income per common share, assuming dilution: (A) ÷ (C) $ $ $ $ Stock-based compensation awards excluded from the computation of net income per common share, assuming dilution, because they would not have had a dilutive effect were as follows: Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Antidilutive shares excluded from computation of net income per common share, assuming dilution – – – .1

Supplemental Equity and Compreh

Supplemental Equity and Comprehensive Income Information	9 Months Ended
	Sep. 29, 2018
Supplemental Equity and Comprehensive Income Information
Supplemental Equity and Comprehensive Income Information	Note 11. Supplemental Equity and Comprehensive Income Information Consolidated Statements of Shareholders’ Equity Three Months Ended Nine Months Ended ( In millions, except per share amount) September 29, September 30, September 29, September 30, Common stock issued, $1 par value per share $ $ $ $ Capital in excess of par value Beginning balance $ $ $ $ Issuance of shares under stock-based compensation plans (.2 ) Ending balance $ $ $ $ Retained earnings Beginning balance $ $ $ $ Net income Issuance of shares under stock-based compensation plans (1) (.1 ) – ) ) Contribution of shares to 401(k) Plan (1) Dividends ) ) ) ) Other changes (2) – – ) – Ending balance $ $ $ $ Treasury stock at cost Beginning balance $ ) $ ) $ ) $ ) Repurchase of shares for treasury ) ) ) ) Issuance of shares under stock-based compensation plans .9 .2 Contribution of shares to 401(k) Plan Ending balance $ ) $ ) $ ) $ ) Accumulated other comprehensive loss Beginning balance $ ) $ ) $ ) $ ) Other comprehensive (loss) income, net of tax ) ) Ending balance $ ) $ ) $ ) $ ) (1) We fund a portion of our employee-related expenses using shares of our common stock held in treasury. We record net gains or losses associated with our use of treasury shares to retained earnings. (2) In the first quarter of 2018, we adopted an accounting guidance update that requires companies to recognize the income tax effects of intra-entity sales and transfers of assets other than inventory in the period in which they occur. Refer to Note 1, “Accounting Guidance Updates.” Changes in Accumulated Other Comprehensive Loss The changes in “Accumulated other comprehensive loss” (net of tax) for the nine-month period ended September 29, 2018 were as follows: (In millions) Foreign Pension and Cash Flow Total Balance as of December 30, 2017 $ ) $ ) $ (.3 ) $ ) Other comprehensive (loss) income before reclassifications, net of tax ) .9 ) Reclassifications to net income, net of tax – (.6 ) Net current-period other comprehensive (loss) income, net of tax ) .3 ) Balance as of September 29, 2018 $ ) $ ) $ – $ ) The changes in “Accumulated other comprehensive loss” (net of tax) for the nine-month period ended September 30, 2017 were as follows: (In millions) Foreign Pension and Cash Flow Total Balance as of December 31, 2016 $ ) $ ) $ $ ) Other comprehensive income (loss) before reclassifications, net of tax – ) Reclassifications to net income, net of tax – Net current-period other comprehensive income (loss), net of tax ) Balance as of September 30, 2017 $ ) $ ) $ (.1 ) $ ) The amounts reclassified from “Accumulated other comprehensive loss” to increase (decrease) net income were as follows: Amounts Reclassified from Accumulated Other Comprehensive Loss Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Affected Line Item Cash flow hedges: Foreign exchange contracts $ $ $ .9 $ .1 Cost of products sold Commodity contracts – – (.1 ) .2 Cost of products sold Interest rate contracts – – – ) Interest expense .8 ) Total before tax (.3 ) (.3 ) (.2 ) .5 Provision for income taxes .9 .7 .6 ) Net of tax Pension and other postretirement benefits ) ) ) ) Other non-operating expense Provision for income taxes ) ) ) ) Net of tax Total reclassifications for the period $ ) $ ) $ ) $ ) Total, net of tax The following table sets forth the income tax expense (benefit) allocated to each component of other comprehensive income: Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Foreign currency translation $ .3 $ ) $ (.5 ) $ ) Pension and other postretirement benefits Cash flow hedges (.1 ) – .1 – Income tax expense (benefit) allocated to components of other comprehensive income $ $ ) $ $ )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 29, 2018
Fair Value Measurements
Fair Value Measurements	Note 12. Fair Value Measurements Recurring Fair Value Measurements The following table shows the assets and liabilities carried at fair value, measured on a recurring basis, as of September 29, 2018: Fair Value Measurements Using (In millions) Total Quoted Prices Significant Significant Assets Trading securities $ $ $ $ – Derivative assets – – Bank drafts – – Liabilities Derivative liabilities $ $ .1 $ $ – Contingent consideration liabilities – – The following table shows the assets and liabilities carried at fair value, measured on a recurring basis, as of December 30, 2017: Fair Value Measurements Using (In millions) Total Quoted Prices Significant Significant Assets Trading securities $ $ $ $ – Derivative assets – – Bank drafts – – Liabilities Derivative liabilities $ $ .1 $ $ – Contingent consideration liabilities – – Trading securities include fixed income securities (primarily U.S. government and corporate debt securities) measured at fair value using quoted prices/bids and a money market fund measured at fair value using net asset value. As of September 29, 2018, trading securities of $.9 million and $25.4 million were included in “Cash and cash equivalents” and “Other current assets,” respectively, in the unaudited Condensed Consolidated Balance Sheets. As of December 30, 2017, trading securities of $.4 million and $22.3 million were included in “Cash and cash equivalents” and “Other current assets,” respectively, in the Consolidated Balance Sheets. Derivatives that are exchange-traded are measured at fair value using quoted market prices and classified within Level 1 of the valuation hierarchy. Derivatives measured based on foreign exchange rate inputs that are readily available in public markets are classified within Level 2 of the valuation hierarchy. Bank drafts (maturities greater than three months) are valued at face value due to their short-term nature and were included in “Other current assets” in the unaudited Condensed Consolidated Balance Sheets. Contingent consideration liabilities relate to estimated earn-out payments associated with certain acquisitions we completed in 2017. These payments are based on the achievements of certain performance targets in 2017 and 2018 based on the applicable terms of the purchase agreements, and our estimates are based on the expected payments related to these targets under the terms of their respective agreements. We have classified these liabilities as Level 3. As of September 29, 2018, contingent consideration liabilities were included in “Other current liabilities” in the unaudited Condensed Consolidated Balance Sheets. As of December 30, 2017, contingent consideration liabilities of approximately $18 million and $27 million were included in “Other current liabilities” and “Long-term retirement benefits and other liabilities,” respectively, in the Consolidated Balance Sheets. The following table presents a reconciliation of Level 3 contingent consideration liabilities for the nine months ended September 29, 2018: Level 3 Liabilities (In millions) Contingent Consideration Balance at December 30, 2017 $ Payments ) Adjustments (1) ) Balance at September 29, 2018 $ (1) Adjustments primarily relate to measurement period adjustments. Refer to Note 3, “Goodwill,” for more information. Non-Recurring Fair Value Measurements During the nine months ended September 29, 2018, long-lived assets with carrying amounts totaling $18.1 million were written down to their fair value of $10.6 million, resulting in an impairment charge of $7.5 million, which was included in “Other expense, net” in the unaudited Condensed Consolidated Statements of Income. The fair value was based on the estimated sale price of the assets, less estimated broker fees, which is primarily a Level 3 input.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 29, 2018
Commitments and Contingencies
Commitments and Contingencies	Note 13. Commitments and Contingencies Legal Proceedings We are involved in various lawsuits, claims, inquiries, and other regulatory and compliance matters, most of which are routine to the nature of our business. When it is probable that a loss will be incurred and where a range of the loss can be reasonably estimated, the best estimate within the range is accrued. When the best estimate within the range cannot be determined, the low end of the range is accrued. The ultimate resolution of these claims could affect future results of operations should our exposure be materially different from our estimates or should liabilities be incurred that were not previously accrued. Potential insurance reimbursements are not offset against potential liabilities. Because of the uncertainties associated with claims resolution and litigation, future expenses to resolve these matters could be higher than the liabilities we have accrued; however, we are unable to reasonably estimate a range of potential expenses. If information were to become available that allowed us to reasonably estimate a range of potential expenses in an amount higher or lower than what we have accrued, we would adjust our accrued liabilities accordingly. Additional lawsuits, claims, inquiries, and other regulatory and compliance matters could arise in the future. The range of expenses for resolving any future matters would be assessed as they arise; until then, a range of potential expenses for such resolution cannot be determined. Based upon current information, we believe that the impact of the resolution of these matters would not be, individually or in the aggregate, material to our financial position, results of operations or cash flows. Environmental Expenditures Environmental expenditures are generally expensed. However, environmental expenditures for newly acquired assets and those which extend or improve the economic useful life of existing assets are capitalized and amortized over the shorter of the estimated useful life of the acquired asset or the remaining life of the existing asset. We review our estimates of the costs of complying with environmental laws related to remediation and cleanup of various sites, including sites in which governmental agencies have designated us as a potentially responsible party (“PRP”). When it is probable that a loss will be incurred and where a range of the loss can be reasonably estimated, the best estimate within the range is accrued. When the best estimate within the range cannot be determined, the low end of the range is accrued. Potential insurance reimbursements are not offset against potential liabilities. As of September 29, 2018, we have been designated by the U.S. Environmental Protection Agency (“EPA”) and/or other responsible state agencies as a PRP at thirteen waste disposal or waste recycling sites that are the subject of separate investigations or proceedings concerning alleged soil and/or groundwater contamination. No settlement of our liability related to any of these sites has been agreed upon. We are participating with other PRPs at these sites and anticipate that our share of remediation costs will be determined pursuant to agreements that we negotiate with the EPA or other governmental authorities. These estimates could change as a result of changes in planned remedial actions, remediation technologies, site conditions, the estimated time to complete remediation, environmental laws and regulations, and other factors. Because of the uncertainties associated with environmental assessment and remediation activities, future expenses to remediate these sites could be higher than the liabilities we have accrued; however, we are unable to reasonably estimate a range of potential expenses. If information were to become available that allowed us to reasonably estimate a range of potential expenses in an amount higher or lower than what we have accrued, we would adjust our environmental liabilities accordingly. In addition, we may be identified as a PRP at additional sites in the future. The range of expenses for remediation of any future-identified sites would be addressed as they arise; until then, a range of expenses for such remediation cannot be determined. The activity for the nine months ended September 29, 2018 related to our environmental liabilities was as follows: (In millions) Balance at December 30, 2017 $ Charges (reversals), net Payments ) Balance at September 29, 2018 $ Approximately $5 million of the balance was classified as short-term and included in “Other current liabilities” in the unaudited Condensed Consolidated Balance Sheets as of September 29, 2018 and December 30, 2017.

Segment and Disaggregated Reven

Segment and Disaggregated Revenue Information	9 Months Ended
	Sep. 29, 2018
Segment and Disaggregated Revenue Information
Segment and Disaggregated Revenue Information	Note 14. Segment and Disaggregated Revenue Information Disaggregated Revenue Information Disaggregated revenue information is set forth below in the manner that best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Revenue from our LGM reportable segment is attributed to geographic areas based on the location from which products are shipped. Revenue from our RBIS reportable segment is shown by product group. Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Net sales to unaffiliated customers Label and Graphic Materials: U.S. $ $ $ $ Europe Asia Latin America Other international Total Label and Graphic Materials Retail Branding and Information Solutions: Apparel Printer Solutions Total Retail Branding and Information Solutions Industrial and Healthcare Materials Net sales to unaffiliated customers $ $ $ $ Additional Segment Information Additional financial information by reportable segment is set forth below. Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Intersegment sales Label and Graphic Materials $ $ $ $ Retail Branding and Information Solutions .7 Industrial and Healthcare Materials Intersegment sales $ $ $ $ Income before taxes Label and Graphic Materials $ $ $ 418.1 $ Retail Branding and Information Solutions Industrial and Healthcare Materials Corporate expense ) ) ) ) Interest expense ) ) ) ) Other non-operating expense ) ) ) ) Income before taxes $ $ $ $ Other (income) expense, net by reportable segment Label and Graphic Materials $ ) $ 3.2 $ $ Retail Branding and Information Solutions Industrial and Healthcare Materials – .2 .2 Corporate – – ) – Other (income) expense, net $ ) $ $ $ Other (income) expense, net by type Restructuring charges: Severance and related costs, net of reversals $ ) $ $ $ Asset impairment charges and lease cancellation costs .7 Other items: Argentine peso remeasurement transition loss – – Other restructuring-related charge – – .5 – Net gain on sales of assets – – ) – Transaction costs – .3 – Other (income) expense, net $ ) $ $ $

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Sep. 29, 2018
Supplemental Financial Information
Supplemental Financial Information	Note 15. Supplemental Financial Information Inventories Net inventories consisted of the following: (In millions) September 29, 2018 December 30, 2017 Raw materials $ $ Work-in-progress Finished goods Inventories, net $ $ Property, Plant and Equipment (In millions) September 29, 2018 December 30, 2017 Property, plant and equipment $ $ Accumulated depreciation ) ) Property, plant and equipment, net $ $ Research and Development Research and development expense was $24.5 million and $74.5 million for the three and nine months ended September 29, 2018, respectively, and $23.6 million and $70 million for the three and nine months ended September 30, 2017, respectively. This expense was included in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Statements of Income. Equity Method Investment The carrying value of our equity method investment was $7.2 million and $9.1 million as of September 29, 2018 and December 30, 2017, respectively, and was included in “Other assets” in the unaudited Condensed Consolidated Balance Sheets.

Recent Accounting Requirements

Recent Accounting Requirements	9 Months Ended
	Sep. 29, 2018
Recent Accounting Requirements
Recent Accounting Requirements	Note 16. Recent Accounting Requirements In August 2018, the Financial Accounting Standards Board (“FASB”) issued guidance to improve the effectiveness of disclosures by removing, modifying and adding disclosures related to fair value measurements. This guidance will be effective for interim and annual periods beginning after December 15, 2019, and early adoption is permitted. We anticipate adopting this guidance in the fourth quarter of 2018 and do not anticipate that our adoption will have a significant impact on our disclosures. In August 2018, the FASB issued guidance to improve the effectiveness of disclosures by removing and adding certain disclosures related to defined benefit plans. This guidance will be effective for interim and annual periods beginning after December 15, 2020, and early adoption is permitted. We anticipate adopting this guidance in the fourth quarter of 2018 and do not anticipate that our adoption will have a significant impact on our disclosures. In August 2017, the FASB issued amended guidance to improve the financial reporting of hedging relationships to better reflect the economic results of an entity’s risk management activities in its financial statements, as well as to simplify the application of hedge accounting. Adoption of this amended guidance is required prospectively. This guidance will be effective for interim and annual periods beginning after December 15, 2018, and early adoption is permitted. We do not anticipate that our adoption will have a significant impact on our financial position, results of operations, cash flows, and disclosures. In March 2016, and in subsequent updates, the FASB issued guidance on accounting for leases that requires lessees to recognize the rights and obligations created by leases on their balance sheets. This guidance also requires enhanced disclosures regarding the amount, timing, and uncertainty of cash flows arising from leases and will be effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. Modified retrospective adoption is required with respect to all leases that exist at or commence after the date of initial application of this guidance, with the option to use certain practical expedients. We established a cross-functional team to manage the assessment, design, and implementation of this new guidance. We are continuing to implement processes and information technology tools and to evaluate our accounting policies and controls to address this guidance. While we are still assessing the impact of this guidance on our financial position, results of operations, cash flows, and disclosures, we currently expect our adoption to have a significant impact on our financial position and disclosures.

General (Policies)

General (Policies)	9 Months Ended
	Sep. 29, 2018
General
Fiscal Periods	Fiscal Periods The three and nine months ended September 29, 2018 and September 30, 2017 consisted of thirteen-week and thirty-nine week periods, respectively.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.
Accounting Guidance Updates	Accounting Guidance Updates Revenue Recognition In the first quarter of 2018, we adopted an accounting guidance update that provides a single comprehensive model on accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. We adopted this guidance using the modified retrospective method, which means that reporting periods beginning in 2018 are presented in accordance with this guidance, while prior period amounts continue to be reported in accordance with the previous guidance. As allowed by this guidance, we began to apply it to contracts with customers that were not completed as of the beginning of 2018. As a result of the adoption of this guidance, our allowance for customer returns, presented as a reduction of trade accounts receivable in prior years, is now presented as a returns liability in “Other current liabilities.” As of September 29, 2018, the returns liability was $12.6 million. Our adoption of this guidance did not have a material impact on our financial position, results of operations, or cash flows. The disclosures required by this guidance are included in Note 2, “Revenue Recognition,” and Note 14, “Segment and Disaggregated Revenue Information.” Presentation of Net Periodic Benefit Costs In the first quarter of 2018, we adopted an accounting guidance update that requires employers with defined benefit plans to present the service cost component of net periodic benefit cost in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period. Employers are required to present the other components of net periodic benefit cost, including gains or losses from settlements or terminations, separately from the line item(s) that includes the service cost and outside of any subtotal of operating income. Components other than the service cost component are no longer eligible for capitalization in assets. Employers are required to apply the portion of this guidance on the presentation of the components of net periodic benefit cost in the income statement retrospectively, while the portion of this guidance that limits the capitalization of net periodic benefit cost in assets to the service cost component must be applied prospectively. Prior year results have been reclassified as required by this guidance. The effects of our adoption of this guidance on our unaudited Condensed Consolidated Statements of Income for the prior year were as follows: Three Months Ended Nine Months Ended (In millions) September 30, 2017 September 30, 2017 As Reclassification As As Reclassification As Marketing, general and administrative expense $ $ ) $ $ $ ) $ Other non-operating expense – – Classification of Certain Cash Payments In the first quarter of 2018, we adopted an accounting guidance update that reduces the diversity in the presentation and classification of certain cash receipts and cash payments in statements of cash flows. Prior year results have been reclassified as required by this guidance. The effects of our adoption of this guidance, which primarily relate to the classification of corporate-owned life insurance cash flows, on our unaudited Condensed Consolidated Statements of Cash Flows for the prior year were as follows: Nine Months Ended September 30, 2017 (In millions) As Previously Reclassification As Reclassified Net cash provided by operating activities $ $ ) $ Net cash used in investing activities ) ) Intra-Entity Transfers of Assets Other Than Inventory In the first quarter of 2018, we adopted an accounting guidance update that requires companies to recognize the income tax effects of intra-entity sales and transfers of assets other than inventory in the period in which they occur. Upon adoption, we derecognized tax-related deferred charges and recognized deferred tax assets related to certain intra-entity asset transfers as a $14 million net reduction to retained earnings Implementation Cost Incurred in a Cloud Computing Arrangement In the third quarter of 2018, we adopted an accounting guidance update that requires companies to capitalize implementation costs incurred in a hosting arrangement that is a service contract. We adopted this guidance early and on a prospective basis. Our adoption of this guidance did not have a material impact on our financial position, results of operations, or cash flows.

General (Tables)

General (Tables)	9 Months Ended
	Sep. 29, 2018
General
Schedule of effects of the adoption of accounting guidance update of Presentation of Net Periodic Benefit Costs and Classification of Certain Cash Payments	Three Months Ended Nine Months Ended (In millions) September 30, 2017 September 30, 2017 As Reclassification As As Reclassification As Marketing, general and administrative expense $ $ ) $ $ $ ) $ Other non-operating expense – – Nine Months Ended September 30, 2017 (In millions) As Previously Reclassification As Reclassified Net cash provided by operating activities $ $ ) $ Net cash used in investing activities ) )

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 29, 2018
Revenue Recognition
Schedule of amounts and balance sheet locations of deferred revenue	(In millions) September 29, 2018 December 30, 2017 Other current liabilities $ $ Long-term retirement benefits and other liabilities .3 .4 Total deferred revenue $ $

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 29, 2018
Goodwill
Schedule of changes in net carrying amount of goodwill	(In millions) Label and Retail Branding Industrial and Total Goodwill as of December 30, 2017 $ $ $ $ Acquisition adjustments (1) – – ) ) Translation adjustments ) ) ) ) Goodwill as of September 29, 2018 $ $ $ $ (1) Goodwill purchase price allocation adjustments and measurement period adjustments for contingent consideration liabilities, in each case related to the acquisition of Yongle Tape Ltd. completed in June 2017.

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 29, 2018
Pension and Other Postretirement Benefits
Schedule of components of net periodic benefit cost (credit)	Pension Benefits Three Months Ended Nine Months Ended September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 (In millions) U.S. Int’l U.S. Int’l U.S. Int’l U.S. Int’l Service cost $ – $ $ .1 $ $ – $ $ .3 $ Interest cost Actuarial (gain) loss (.6 ) – .2 – ) – – Expected return on plan assets ) ) ) ) ) ) ) ) Recognized net actuarial loss Amortization of prior service cost (credit) .2 (.1 ) .3 (.1 ) .6 (.4 ) .7 (.3 ) Recognized loss on settlements (1) .1 – – .1 – – Net periodic benefit cost $ $ $ $ $ $ $ $ (1) In 2018, settlements in the U.S. were related to lump-sum payments associated with two nonqualified benefit plans. U.S. Postretirement Health Benefits Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Interest cost $ – $ – $ – $ .1 Recognized net actuarial loss .4 .4 Amortization of prior service credit (.8 ) (.9 ) ) ) Net periodic benefit credit $ (.4 ) $ (.5 ) $ ) $ )

Cost Reduction Actions (Tables)

Cost Reduction Actions (Tables)	9 Months Ended
	Sep. 29, 2018
Cost Reduction Actions
Restructuring charges and payments	(In millions) Accrual at Charges Cash Non-cash Foreign Accrual at 2018 Plan Severance and related costs $ – $ $ ) $ – $ (.3 ) $ Asset impairment charges – – ) – – 2015/2016 Actions Severance and related costs ) – – – Lease cancellation costs .6 .8 ) – – .4 Asset impairment charges – – ) – – Total $ $ $ ) $ ) $ (.3 ) $
Restructuring charges, net of reversals, by reportable segment	Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Restructuring charges, net of reversals, by reportable segment Label and Graphic Materials $ ) $ $ $ Retail Branding and Information Solutions Industrial and Healthcare Materials – – .2 .2 Total $ ) $ $ $

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 29, 2018
Components of the gains (losses), before taxes, recognized in Accumulated other comprehensive loss related to cash flow hedge contracts	Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Foreign exchange contracts $ .7 $ $ $ ) Commodity contracts – – – (.4 ) Total $ .7 $ $ $ )
Components of net gains (losses) recognized in income related to the derivatives not designated as hedging instruments	Three Months Ended Nine Months Ended (In millions) Location of Net Gains September 29, September 30, September 29, September 30, Foreign exchange contracts Cost of products sold $ $ (.1 ) $ $ ) Foreign exchange contracts Marketing, general and administrative expense ) ) ) Total $ $ ) $ ) $ )
Components of the gain (loss), before tax, recognized in Accumulated other comprehensive loss related to the net investment hedge	Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Foreign currency denominated debt $ ) $ ) $ ) $ )
Cash Flow Hedging
Fair value and balance sheet locations of derivatives	Asset (In millions) Balance Sheet Location September 29, 2018 December 30, 2017 Foreign exchange contracts Other current assets $ .7 $ .4 Liability (In millions) Balance Sheet Location September 29, 2018 December 30, 2017 Foreign exchange contracts Other current liabilities $ $ .6 Commodity contracts Long-term retirement benefits and other liabilities .1 – $ $ .6
Not designated as hedging instruments
Fair value and balance sheet locations of derivatives	Asset (In millions) Balance Sheet Location September 29, 2018 December 30, 2017 Foreign exchange contracts Other current assets $ $ Liability (In millions) Balance Sheet Location September 29, 2018 December 30, 2017 Foreign exchange contracts Other current liabilities $ $

Taxes Based on Income (Tables)

Taxes Based on Income (Tables)	9 Months Ended
	Sep. 29, 2018
Taxes Based on Income
Summary of income before taxes, provision for income taxes, and effective tax rate from continuing operations	Three Months Ended Nine Months Ended (In millions, except percentages) September 29, September 30, September 29, September 30, Income before taxes $ $ $ $ Provision for income taxes Effective tax rate % % % %

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Sep. 29, 2018
Net Income Per Common Share
Schedule of net income per common share	Three Months Ended Nine Months Ended (In millions, except per share amounts) September 29, September 30, September 29, September 30, (A) Net income available to common shareholders $ $ $ $ (B) Weighted average number of common shares outstanding Dilutive shares (additional common shares issuable under stock-based awards) (C) Weighted average number of common shares outstanding, assuming dilution Net income per common share: (A) ÷ (B) $ $ $ $ Net income per common share, assuming dilution: (A) ÷ (C) $ $ $ $
Schedule of stock-based compensation awards excluded from the computation of net income per common share, assuming dilution	Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Antidilutive shares excluded from computation of net income per common share, assuming dilution – – – .1

Supplemental Equity and Compr_2

Supplemental Equity and Comprehensive Income Information (Tables)	9 Months Ended
	Sep. 29, 2018
Supplemental Equity and Comprehensive Income Information
Schedule of Consolidated Statements of Shareholders' Equity	Three Months Ended Nine Months Ended ( In millions, except per share amount) September 29, September 30, September 29, September 30, Common stock issued, $1 par value per share $ $ $ $ Capital in excess of par value Beginning balance $ $ $ $ Issuance of shares under stock-based compensation plans (.2 ) Ending balance $ $ $ $ Retained earnings Beginning balance $ $ $ $ Net income Issuance of shares under stock-based compensatiokn plans (1) (.1 ) – ) ) Contribution of shares to 401(k) Plan (1) Dividends ) ) ) ) Other changes (2) – – ) – Ending balance $ $ $ $ Treasury stock at cost Beginning balance $ ) $ ) $ ) $ ) Repurchase of shares for treasury ) ) ) ) Issuance of shares under stock-based compensation plans .9 .2 Contribution of shares to 401(k) Plan Ending balance $ ) $ ) $ ) $ ) Accumulated other comprehensive loss Beginning balance $ ) $ ) $ ) $ ) Other comprehensive (loss) income, net of tax ) ) Ending balance $ ) $ ) $ ) $ ) (1) We fund a portion of our employee-related expenses using shares of our common stock held in treasury. We record net gains or losses associated with our use of treasury shares to retained earnings. (2) In the first quarter of 2018, we adopted an accounting guidance update that requires companies to recognize the income tax effects of intra-entity sales and transfers of assets other than inventory in the period in which they occur. Refer to Note 1, “Accounting Guidance Updates.”
Schedule of changes in "Accumulated other comprehensive loss" (net of tax)	(In millions) Foreign Pension and Cash Flow Total Balance as of December 30, 2017 $ ) $ ) $ (.3 ) $ ) Other comprehensive (loss) income before reclassifications, net of tax ) .9 ) Reclassifications to net income, net of tax – (.6 ) Net current-period other comprehensive (loss) income, net of tax ) .3 ) Balance as of September 29, 2018 $ ) $ ) $ – $ ) (In millions) Foreign Pension and Cash Flow Total Balance as of December 31, 2016 $ ) $ ) $ $ ) Other comprehensive income (loss) before reclassifications, net of tax – ) Reclassifications to net income, net of tax – Net current-period other comprehensive income (loss), net of tax ) Balance as of September 30, 2017 $ ) $ ) $ (.1 ) $ )
Schedule of amounts reclassified from "Accumulated other comprehensive loss" to increase (decrease) net income	Amounts Reclassified from Accumulated Other Comprehensive Loss Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Affected Line Item Cash flow hedges: Foreign exchange contracts $ $ $ .9 $ .1 Cost of products sold Commodity contracts – – (.1 ) .2 Cost of products sold Interest rate contracts – – – ) Interest expense .8 ) Total before tax (.3 ) (.3 ) (.2 ) .5 Provision for income taxes .9 .7 .6 ) Net of tax Pension and other postretirement benefits ) ) ) ) Other non-operating expense Provision for income taxes ) ) ) ) Net of tax Total reclassifications for the period $ ) $ ) $ ) $ ) Total, net of tax
Schedule of income tax expense (benefit) allocated to each component of other comprehensive income	Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Foreign currency translation $ .3 $ ) $ (.5 ) $ ) Pension and other postretirement benefits Cash flow hedges (.1 ) – .1 – Income tax expense (benefit) allocated to components of other comprehensive income $ $ ) $ $ )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 29, 2018
Fair Value Measurements
Assets and liabilities carried at fair value, measured on a recurring basis	The following table shows the assets and liabilities carried at fair value, measured on a recurring basis, as of September 29, 2018: Fair Value Measurements Using (In millions) Total Quoted Prices Significant Significant Assets Trading securities $ $ $ $ – Derivative assets – – Bank drafts – – Liabilities Derivative liabilities $ $ .1 $ $ – Contingent consideration liabilities – – The following table shows the assets and liabilities carried at fair value, measured on a recurring basis, as of December 30, 2017: Fair Value Measurements Using (In millions) Total Quoted Prices Significant Significant Assets Trading securities $ $ $ $ – Derivative assets – – Bank drafts – – Liabilities Derivative liabilities $ $ .1 $ $ – Contingent consideration liabilities – –
Reconciliation of Level 3 contingent consideration liabilities	Level 3 Liabilities (In millions) Contingent Consideration Balance at December 30, 2017 $ Payments ) Adjustments (1) ) Balance at September 29, 2018 $ (1) Adjustments primarily relate to measurement period adjustments. Refer to Note 3, “Goodwill,” for more information.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 29, 2018
Commitments and Contingencies
Summary of costs of environmental liabilities with remediation	(In millions) Balance at December 30, 2017 $ Charges (reversals), net Payments ) Balance at September 29, 2018 $

Segment and Disaggregated Rev_2

Segment and Disaggregated Revenue Information (Tables)	9 Months Ended
	Sep. 29, 2018
Segment and Disaggregated Revenue Information
Summary of net sales to unaffiliated customers	Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Net sales to unaffiliated customers Label and Graphic Materials: U.S. $ $ $ $ Europe Asia Latin America Other international Total Label and Graphic Materials Retail Branding and Information Solutions: Apparel Printer Solutions Total Retail Branding and Information Solutions Industrial and Healthcare Materials Net sales to unaffiliated customers $ $ $ $
Summary of additional financial information by reportable segment	Three Months Ended Nine Months Ended (In millions) September 29, September 30, September 29, September 30, Intersegment sales Label and Graphic Materials $ $ $ $ Retail Branding and Information Solutions .7 Industrial and Healthcare Materials Intersegment sales $ $ $ $ Income before taxes Label and Graphic Materials $ $ $ 418.1 $ Retail Branding and Information Solutions Industrial and Healthcare Materials Corporate expense ) ) ) ) Interest expense ) ) ) ) Other non-operating expense ) ) ) ) Income before taxes $ $ $ $ Other (income) expense, net by reportable segment Label and Graphic Materials $ ) $ 3.2 $ $ Retail Branding and Information Solutions Industrial and Healthcare Materials – .2 .2 Corporate – – ) – Other (income) expense, net $ ) $ $ $ Other (income) expense, net by type Restructuring charges: Severance and related costs, net of reversals $ ) $ $ $ Asset impairment charges and lease cancellation costs .7 Other items: Argentine peso remeasurement transition loss – – Other restructuring-related charge – – .5 – Net gain on sales of assets – – ) – Transaction costs – .3 – Other (income) expense, net $ ) $ $ $

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	9 Months Ended
	Sep. 29, 2018
Supplemental Financial Information
Schedule of net inventories	(In millions) September 29, 2018 December 30, 2017 Raw materials $ $ Work-in-progress Finished goods Inventories, net $ $
Schedule of property, plant and equipment	(In millions) September 29, 2018 December 30, 2017 Property, plant and equipment $ $ Accumulated depreciation ) ) Property, plant and equipment, net $ $

General (Details)

General (Details)	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Length of fiscal period	91 days	91 days	273 days	273 days
Argentina
Cumulative inflation rate during the three years			100.00%

General - Accounting Guidance U

General - Accounting Guidance Update (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Accounting Guidance Update
Marketing, general and administrative expense	$ 270.5	$ 273.5	$ 853	$ 824.1
Other non-operating expense	9	3.7	14.9	13.1
Net cash provided by operating activities			187.7	389.9
Net cash used in investing activities			(127.4)	(443.4)
Accounting Standards Update 2014-09
Accounting Guidance Update
Returns liability	12.6		12.6
Accounting Standards Update 2017-07
Accounting Guidance Update
Marketing, general and administrative expense		273.5		824.1
Other non-operating expense		3.7		13.1
Accounting Standards Update 2017-07 | As Previously Reported
Accounting Guidance Update
Marketing, general and administrative expense		277.2		837.2
Accounting Standards Update 2017-07 | Reclassifications
Accounting Guidance Update
Marketing, general and administrative expense		(3.7)		(13.1)
Other non-operating expense		$ 3.7		13.1
Accounting Standards Update 2016-15
Accounting Guidance Update
Net cash provided by operating activities				389.9
Net cash used in investing activities				(443.4)
Accounting Standards Update 2016-15 | As Previously Reported
Accounting Guidance Update
Net cash provided by operating activities				392.6
Net cash used in investing activities				(446.1)
Accounting Standards Update 2016-15 | Reclassifications
Accounting Guidance Update
Net cash provided by operating activities				(2.7)
Net cash used in investing activities				$ 2.7
Accounting Standards Update 2016-16
Accounting Guidance Update
Deferred taxes related to intra-entity transfers	$ 14		$ 14

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 29, 2018	Sep. 29, 2018	Dec. 30, 2017
Deferred Revenue
Deferred revenue	$ 16.4	$ 16.4	$ 15.7
Net sales
Deferred Revenue
Deferred revenue recognized	1.1	11.4
Other current liabilities
Deferred Revenue
Deferred revenue	16.1	16.1	15.3
Long-term retirement benefits and other liabilities
Deferred Revenue
Deferred revenue	$ 0.3	$ 0.3	$ 0.4

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2018	Dec. 30, 2017
Changes in the net carrying amount of goodwill
Goodwill, Beginning Balance	$ 985.1
Acquisition adjustments	(17.7)
Translation adjustments	(14.3)
Goodwill, Ending Balance	953.1
Label and Graphic Materials
Changes in the net carrying amount of goodwill
Goodwill, Beginning Balance	429.5
Translation adjustments	(5.5)
Goodwill, Ending Balance	424
Retail Branding and Information Solutions
Changes in the net carrying amount of goodwill
Goodwill, Beginning Balance	355.4
Translation adjustments	(3.9)
Goodwill, Ending Balance	351.5
Accumulated impairment losses	820	$ 820
Industrial and Healthcare Materials
Changes in the net carrying amount of goodwill
Goodwill, Beginning Balance	200.2
Acquisition adjustments	(17.7)
Translation adjustments	(4.9)
Goodwill, Ending Balance	$ 177.6

Debt (Details)

Debt (Details) € in Millions, $ in Millions	1 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2017EUR (€)	Mar. 31, 2017USD ($)	Sep. 29, 2018USD ($)	Dec. 30, 2017USD ($)
Debt
Fair value of debt			$ 1,860	$ 1,600
Revolving credit facility
Debt
Maximum borrowing capacity			800
Amount outstanding			$ 0	$ 0
Covenants compliance			we were in compliance with our financial covenants	we were in compliance with our financial covenants
Senior notes due March 2025 at 1.25%
Debt
Senior notes issued | €	€ 500
Interest rate of senior notes (as a percent)	1.25%
Proceeds, net of underwriting discounts and estimated offering expenses	€ 495.5	$ 526.6

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Components of net periodic benefit cost (credit)
Recognized loss on settlements				$ 7.4
ADPP
Components of net periodic benefit cost (credit)
Contribution to ADPP in August 2018 using commercial paper borrowings		$ 200		200
Net pension benefit obligation remaining underfunded amount		24		24
ADPP | Forecast
Components of net periodic benefit cost (credit)
Noncash charges associated with termination of the plan expected to be recognized	$ 100
ADPP | Minimum
Components of net periodic benefit cost (credit)
Estimated amount of non-cash charge associated with termination of the plan				575
ADPP | Maximum
Components of net periodic benefit cost (credit)
Estimated amount of non-cash charge associated with termination of the plan				600
U.S.
Components of net periodic benefit cost (credit)
Service cost			$ 0.1		$ 0.3
Interest cost		8.6	8.1	25.9	26.2
Actuarial (gain) loss		(0.6)	0.2	(1.3)	1.1
Expected return on plan assets		(10.6)	(10.1)	(31.9)	(30.4)
Recognized net actuarial loss		5.2	4.7	15.9	14.1
Amortization of prior service cost (credit)		0.2	0.3	0.6	0.7
Recognized loss on settlements		6.7		7.4
Net periodic benefit cost (credit)		9.5	3.3	16.6	12
Int'l
Components of net periodic benefit cost (credit)
Service cost		4.7	4.6	14.5	13.4
Interest cost		3.8	3.7	11.8	10.6
Expected return on plan assets		(5.8)	(5.4)	(18)	(15.6)
Recognized net actuarial loss		1.9	2.8	6.1	8
Amortization of prior service cost (credit)		(0.1)	(0.1)	(0.4)	(0.3)
Recognized loss on settlements		0.1		0.1
Net periodic benefit cost (credit)		4.6	5.6	14.1	16.1
U.S. Postretirement Health Benefits
Components of net periodic benefit cost (credit)
Interest cost					0.1
Recognized net actuarial loss		0.4	0.4	1.1	1.1
Amortization of prior service cost (credit)		(0.8)	(0.9)	(2.4)	(2.5)
Net periodic benefit cost (credit)		$ (0.4)	$ (0.5)	$ (1.3)	$ (1.3)

Long-Term Incentive Compensat_2

Long-Term Incentive Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Marketing, general and administrative expense
Long-Term Incentive Compensation
Stock-based compensation expense	$ 8.4	$ 9	$ 24.8	$ 22.2
Cash-based awards compensation expense
Cash-based awards compensation expense	3.9	$ 7.8	12.7	$ 24.6
Stock-based awards
Long-Term Incentive Compensation
Unrecognized compensation cost related to share based compensation cost	$ 48		$ 48
Unrecognized compensation cost weighted average recognition period			2 years

Cost Reduction Actions (Details

Cost Reduction Actions (Details) $ in Millions	1 Months Ended	9 Months Ended
	Apr. 30, 2018item	Sep. 29, 2018USD ($)item
Restructuring charges:
Charges (Reversals), net | $		$ 65.7
2018 Plan
Restructuring charges:
Net number of positions reduced as a result of Cost Reduction Actions	150
Number of positions reduced as a result of Cost Reduction Actions		345
Charges (Reversals), net | $		$ 54.8
2018 Plan | Minimum
Restructuring charges:
Expected number of positions reduced as a result of Cost Reduction Actions	350
2018 Plan | Maximum
Restructuring charges:
Expected number of positions reduced as a result of Cost Reduction Actions	400
2015/2016 Actions
Restructuring charges:
Number of positions reduced as a result of Cost Reduction Actions		500
Charges (Reversals), net | $		$ 10.9

Cost Reduction Actions - Restru

Cost Reduction Actions - Restructuring Charges and Payments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Cost Reduction Actions
Beginning Balance			$ 4.9
Charges (Reversals), net			65.7
Cash Payments			(16.8)
Non-cash asset Impairment			(8.9)
Foreign Currency Translation			(0.3)
Ending Balance	$ 44.6		44.6
Severance and related costs
Cost Reduction Actions
Charges (Reversals), net	(7.1)	$ 8.7	56	$ 21.7
2018 Plan
Cost Reduction Actions
Charges (Reversals), net			54.8
2018 Plan | Severance and related costs
Cost Reduction Actions
Charges (Reversals), net			47.6
Cash Payments			(3.1)
Foreign Currency Translation			(0.3)
Ending Balance	44.2		44.2
2018 Plan | Asset impairment charges
Cost Reduction Actions
Charges (Reversals), net			7.2
Non-cash asset Impairment			(7.2)
2015/2016 Actions
Cost Reduction Actions
Charges (Reversals), net			10.9
2015/2016 Actions | Severance and related costs
Cost Reduction Actions
Beginning Balance			4.3
Charges (Reversals), net			8.4
Cash Payments			(12.7)
2015/2016 Actions | Lease cancellation costs
Cost Reduction Actions
Beginning Balance			0.6
Charges (Reversals), net			0.8
Cash Payments			(1)
Ending Balance	$ 0.4		0.4
2015/2016 Actions | Asset impairment charges
Cost Reduction Actions
Charges (Reversals), net			1.7
Non-cash asset Impairment			$ (1.7)

Cost Reduction Actions - Report

Cost Reduction Actions - Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Restructuring charges:
Restructuring charges, net of reversals			$ 65.7
Other expense, net
Restructuring charges:
Restructuring charges, net of reversals	$ (6.4)	$ 10.5	65.7	$ 23.8
Label and Graphic Materials | Other expense, net
Restructuring charges:
Restructuring charges, net of reversals	(9.4)	3.1	55.9	9.9
Retail Branding and Information Solutions | Other expense, net
Restructuring charges:
Restructuring charges, net of reversals	$ 3	$ 7.4	9.6	13.7
Industrial and Healthcare Materials | Other expense, net
Restructuring charges:
Restructuring charges, net of reversals			$ 0.2	$ 0.2

Financial Instruments (Details)

Financial Instruments (Details) - Cash Flow Hedging $ in Millions	9 Months Ended
	Sep. 29, 2018USD ($)
Financial Instruments
Maximum length of time hedged in cash flow hedge	36 months
Commodity contracts
Financial Instruments
Notional amount	$ 3.8
Foreign exchange contracts
Financial Instruments
Notional amount	$ 1,440

Financial Instruments - Cash Fl

Financial Instruments - Cash Flow Hedges and Other Derivatives, Fair Value (Details) - USD ($) $ in Millions	Sep. 29, 2018	Dec. 30, 2017
Cash Flow Hedging
Cash Flow Hedges, Fair Value
Liability	$ 1.3	$ 0.6
Cash Flow Hedging | Foreign exchange contracts | Other current assets
Cash Flow Hedges, Fair Value
Asset	0.7	0.4
Cash Flow Hedging | Foreign exchange contracts | Other current liabilities
Cash Flow Hedges, Fair Value
Liability	1.2	0.6
Cash Flow Hedging | Commodity contracts | Long-term retirement benefits and other liabilities
Cash Flow Hedges, Fair Value
Liability	0.1
Not designated as hedging instruments | Foreign exchange contracts | Other current assets
Cash Flow Hedges, Fair Value
Asset	3.7	3.5
Not designated as hedging instruments | Foreign exchange contracts | Other current liabilities
Cash Flow Hedges, Fair Value
Liability	$ 3.5	$ 5.6

Financial Instruments - Gains (

Financial Instruments - Gains (Losses) Recognized in AOCI (Details) - Cash Flow Hedging - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Gains (losses) recognized in current earnings
Gains (losses) recognized in accumulated other comprehensive loss	$ 0.7	$ 1.3	$ 1.2	$ (2.6)
Foreign exchange contracts
Gains (losses) recognized in current earnings
Gains (losses) recognized in accumulated other comprehensive loss	$ 0.7	$ 1.3	$ 1.2	(2.2)
Commodity contracts
Gains (losses) recognized in current earnings
Gains (losses) recognized in accumulated other comprehensive loss				$ (0.4)

Financial Instruments - Net Gai

Financial Instruments - Net Gains (Losses) Recognized in Income (Details) - Not designated as hedging instruments - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Gains (losses) recognized in current earnings
Net Gains (Losses) in Income	$ 4.3	$ (19)	$ (10.5)	$ (42.7)
Foreign exchange contracts | Cost of products sold
Gains (losses) recognized in current earnings
Net Gains (Losses) in Income	1.6	(0.1)	2.9	(1.1)
Foreign exchange contracts | Marketing, general and administrative expense
Gains (losses) recognized in current earnings
Net Gains (Losses) in Income	$ 2.7	$ (18.9)	$ (13.4)	$ (41.6)

Financial Instruments - Net Inv

Financial Instruments - Net Investment Hedge (Details) € in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 29, 2018USD ($)	Sep. 30, 2017USD ($)	Jan. 31, 2018EUR (€)	Mar. 31, 2017EUR (€)
Gains (losses) recognized in current earnings
Amount of ineffectiveness from net investment hedge in net income | $	$ 0	$ 0	$ 0	$ 0
Senior notes due March 2025 at 1.25%
Gains (losses) recognized in current earnings
Senior notes issued | €						€ 500
Interest rate of senior notes (as a percent)						1.25%
Net Investment Hedge | Designated
Gains (losses) recognized in current earnings
Foreign currency denominated debt | $	$ (3.1)	$ (22.7)	$ (6.7)	$ (60.4)
Net Investment Hedge | Designated | Senior notes due March 2025 at 1.25%
Gains (losses) recognized in current earnings
Senior notes issued | €					€ 255	€ 500
Interest rate of senior notes (as a percent)						1.25%

Taxes Based on Income (Details)

Taxes Based on Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017	Dec. 30, 2017
Income before taxes	$ 168	$ 146.8	$ 467	$ 432.2
Provision for income taxes	$ 17.7	$ 38.5	$ 94.9	$ 90.8
Effective tax rate (as a percent)	10.50%	26.20%	20.30%	21.00%
U.S. federal statutory tax rate			21.00%		35.00%
Net discrete tax benefits resulting from return to provision adjustments on completion of 2017 U.S. federal tax return	$ 36.6		$ 37.3
Tax benefit from recognition of a net foreign currency loss			8.6
Net tax expense by adjusting provision amount under TCJA 2017			2.7
Tax expense associated with the indefinite reinvestment assertions related to our investments in certain foreign subsidiaries			3.6
Tax charge for adjustments made to the one-time transition tax, primarily due to a change in filing position and regulatory guidance subsequently issued by the Internal Revenue Service			8.5
Tax benefit from releasing a previously recorded uncertain tax position after the position was not included on our 2017 U.S. federal income tax return			9.4
Reasonably possible decrease in uncertain tax positions, including interest and penalties, primarily as a result of audit settlements and closing tax years during the next 12 months	$ 29		29
ADPP
Tax benefit from pension plan contribution and termination as well as contributions to certain other supplemental executive retirement plans			$ 31

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Net Income Per Common Share
Net income available to common shareholders	$ 149.5	$ 108.3	$ 370.3	$ 341.4
Weighted average number of common shares outstanding	87.3	88.3	87.7	88.4
Dilutive shares (additional common shares issuable under stock-based awards)	1.2	1.6	1.4	1.7
Weighted average number of common shares outstanding, assuming dilution	88.5	89.9	89.1	90.1
Net income per common share (in dollars per share)	$ 1.71	$ 1.23	$ 4.22	$ 3.86
Net income per common share, assuming dilution (in dollars per share)	$ 1.69	$ 1.20	$ 4.16	$ 3.79
Antidilutive shares excluded from computation of net income per common share, assuming dilution				0.1

Supplemental Equity and Compr_3

Supplemental Equity and Comprehensive Income Information - Consolidated Statements of Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017	Dec. 30, 2017
Increase (Decrease) in Stockholders' Equity
Common stock issued, $1 par value per share	$ 124.1	$ 124.1	$ 124.1	$ 124.1	$ 124.1
Common stock, par value (in dollars per share)	$ 1		$ 1		$ 1
Beginning balance			$ 1,046.2
Net income	$ 149.5	108.3	370.3	341.4
Other comprehensive (loss) income, net of tax	(20.7)	17.3	(59.9)	52.8
Ending balance	1,047.1		1,047.1
Capital in excess of par value
Increase (Decrease) in Stockholders' Equity
Beginning balance	854.5	845.9	862.6	852
Issuance of shares under stock-based compensation plans	7.9	8.7	(0.2)	2.6
Ending balance	862.4	854.6	862.4	854.6
Retained earnings
Increase (Decrease) in Stockholders' Equity
Beginning balance	2,702.1	2,621.8	2,596.7	2,473.3
Net income	149.5	108.3	370.3	341.4
Issuance of shares under stock-based compensation plans	(0.1)		(23.9)	(14.3)
Contribution of shares to 401(k) Plan	3.2	2.8	10.7	8.7
Dividends	(45.3)	(39.6)	(130.6)	(115.8)
Other changes			(13.8)
Ending balance	2,809.4	2,693.3	2,809.4	2,693.3
Treasury stock at cost
Increase (Decrease) in Stockholders' Equity
Beginning balance	(1,939.1)	(1,805.6)	(1,856.7)	(1,772)
Repurchase of shares for treasury	(72.2)	(34.5)	(175.1)	(104.8)
Issuance of shares under stock-based compensation plans	0.9	0.2	17.4	31.7
Contribution of shares to 401(k) Plan	2	1.9	6	7.1
Ending balance	(2,008.4)	(1,838)	(2,008.4)	(1,838)
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity
Beginning balance	(719.7)	(716.4)	(680.5)	(751.9)
Other comprehensive (loss) income, net of tax	(20.7)	17.3	(59.9)	52.8
Ending balance	$ (740.4)	$ (699.1)	$ (740.4)	$ (699.1)

Supplemental Equity and Compr_4

Supplemental Equity and Comprehensive Income Information - Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period			$ (680.5)	$ (751.9)
Other comprehensive income (loss) before reclassifications, net of tax			(81.1)	37.2
Reclassifications to net income, net of tax			21.2	15.6
Net current-period other comprehensive income (loss), net of tax	$ (20.7)	$ 17.3	(59.9)	52.8
Balance at end of the period	(740.4)	(699.1)	(740.4)	(699.1)
Foreign Currency Translation
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period			(156.2)	(212.6)
Other comprehensive income (loss) before reclassifications, net of tax			(83.7)	39.3
Net current-period other comprehensive income (loss), net of tax			(83.7)	39.3
Balance at end of the period	(239.9)	(173.3)	(239.9)	(173.3)
Pension and Other Postretirement Benefits
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period			(524)	(540.3)
Other comprehensive income (loss) before reclassifications, net of tax			1.7
Reclassifications to net income, net of tax			21.8	14.6
Net current-period other comprehensive income (loss), net of tax			23.5	14.6
Balance at end of the period	$ (500.5)	(525.7)	(500.5)	(525.7)
Cash Flow Hedges
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period			(0.3)	1
Other comprehensive income (loss) before reclassifications, net of tax			0.9	(2.1)
Reclassifications to net income, net of tax			(0.6)	1
Net current-period other comprehensive income (loss), net of tax			$ 0.3	(1.1)
Balance at end of the period		$ (0.1)		$ (0.1)

Supplemental Equity and Compr_5

Supplemental Equity and Comprehensive Income Information - Reclassified from AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold	$ (1,300.5)	$ (1,227.9)	$ (3,946.3)	$ (3,531.9)
Interest expense	(14.7)	(16.8)	(42.2)	(49.7)
Other non-operating expense	(9)	(3.7)	(14.9)	(13.1)
Total before tax	168	146.8	467	432.2
Provision for income taxes	(17.7)	(38.5)	(94.9)	(90.8)
Net income	149.5	108.3	370.3	341.4
Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Net income	(9.2)	(4.3)	(21.2)	(15.6)
Cash Flow Hedges | Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Total before tax	1.2	1	0.8	(1.5)
Provision for income taxes	(0.3)	(0.3)	(0.2)	0.5
Net income	0.9	0.7	0.6	(1)
Cash Flow Hedges | Amounts Reclassified from Accumulated other comprehensive loss | Foreign exchange contracts
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold	1.2	1	0.9	0.1
Cash Flow Hedges | Amounts Reclassified from Accumulated other comprehensive loss | Commodity contracts
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold			(0.1)	0.2
Cash Flow Hedges | Amounts Reclassified from Accumulated other comprehensive loss | Interest Rate Contracts
Amounts reclassified from Accumulated other comprehensive loss
Interest expense				(1.8)
Pension and Other Postretirement Benefits | Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Other non-operating expense	(13.6)	(7.2)	(28.4)	(21.1)
Provision for income taxes	3.5	2.2	6.6	6.5
Net income	$ (10.1)	$ (5)	$ (21.8)	$ (14.6)

Supplemental Equity and Compr_6

Supplemental Equity and Comprehensive Income Information - Income tax expense (benefit) allocated (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Income tax benefit allocated to components of other comprehensive income
Foreign currency translation	$ 0.3	$ (5.3)	$ (0.5)	$ (12)
Pension and other postretirement benefits	4	2.2	7.1	6.5
Cash flow hedges	(0.1)		0.1
Income tax expense (benefit) allocated to components of other comprehensive income	$ 4.2	$ (3.1)	$ 6.7	$ (5.5)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring - USD ($) $ in Millions	Sep. 29, 2018	Dec. 30, 2017
Assets
Trading securities	$ 26.3	$ 22.7
Derivative assets	4.4	3.9
Bank drafts	16.8	18.4
Liabilities
Derivative liabilities	4.8	6.2
Contingent consideration liabilities	5.9	45
Cash and Cash Equivalents
Assets
Trading securities	0.9	0.4
Other current assets
Assets
Trading securities	25.4	22.3
Other current liabilities
Liabilities
Contingent consideration liabilities		18
Long-term retirement benefits and other liabilities
Liabilities
Contingent consideration liabilities		27
Quoted Prices in Active Markets (Level 1)
Assets
Trading securities	21.6	17.7
Bank drafts	16.8	18.4
Liabilities
Derivative liabilities	0.1	0.1
Significant Other Observable Inputs (Level 2)
Assets
Trading securities	4.7	5
Derivative assets	4.4	3.9
Liabilities
Derivative liabilities	4.7	6.1
Significant Other Unobservable Inputs (Level 3)
Liabilities
Contingent consideration liabilities	$ 5.9	$ 45

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Level 3 Contingent Consideration Liabilities (Details) $ in Millions	9 Months Ended
	Sep. 29, 2018USD ($)
Fair Value Measurements
Beginning Balance	$ 45
Payments	(17.3)
Adjustments	(21.8)
Ending Balance	$ 5.9

Fair Value Measurements - Non-R

Fair Value Measurements - Non-Recurring Fair Value Measurements (Details) $ in Millions	9 Months Ended
	Sep. 29, 2018USD ($)
Non-Recurring Fair Value Measurements
Carrying amount of long lived-assets	$ 18.1
Fair value of long-lived assets	10.6
Other expense, net
Non-Recurring Fair Value Measurements
Impairment charges for long lived-assets	$ 7.5

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Millions	9 Months Ended
	Sep. 29, 2018USD ($)item	Dec. 30, 2017USD ($)
Environmental
Environmental site contingency number of sites | item	13
Activity related to environmental liabilities
Balance at beginning of the period	$ 21.1
Charges (reversals), net	1.2
Payments	(4.4)
Balance at end of the period	17.9
Short term environmental liabilities	$ 5	$ 5

Segment and Disaggregated Rev_3

Segment and Disaggregated Revenue Information - Net Sales to Unaffiliated Customers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Net sales to unaffiliated customers
Net sales to unaffiliated customers	$ 1,759.7	$ 1,679.5	$ 5,390.3	$ 4,878.5
Retail Branding and Information Solutions
Net sales to unaffiliated customers
Net sales to unaffiliated customers	398.4	373.8	1,201.1	1,115.7
Retail Branding and Information Solutions | Apparel
Net sales to unaffiliated customers
Net sales to unaffiliated customers	354.4	336	1,074.9	998
Retail Branding and Information Solutions | Printer Solutions
Net sales to unaffiliated customers
Net sales to unaffiliated customers	44	37.8	126.2	117.7
Label and Graphic Materials
Net sales to unaffiliated customers
Net sales to unaffiliated customers	1,194.2	1,137.3	3,669.7	3,350
Industrial and Healthcare Materials
Net sales to unaffiliated customers
Net sales to unaffiliated customers	167.1	168.4	519.5	412.8
U.S. | Label and Graphic Materials
Net sales to unaffiliated customers
Net sales to unaffiliated customers	315.6	299.5	948.5	908.1
Europe | Label and Graphic Materials
Net sales to unaffiliated customers
Net sales to unaffiliated customers	441.5	419.8	1,416.6	1,246.4
Asia | Label and Graphic Materials
Net sales to unaffiliated customers
Net sales to unaffiliated customers	266.4	256.3	804.5	735.4
Latin America | Label and Graphic Materials
Net sales to unaffiliated customers
Net sales to unaffiliated customers	94.4	92.2	280.7	266.5
Other international | Label and Graphic Materials
Net sales to unaffiliated customers
Net sales to unaffiliated customers	$ 76.3	$ 69.5	$ 219.4	$ 193.6

Segment and Disaggregated Rev_4

Segment and Disaggregated Revenue Information - Sales (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Segment Information
Net sales to unaffiliated customers	$ 1,759.7	$ 1,679.5	$ 5,390.3	$ 4,878.5
Interest expense	(14.7)	(16.8)	(42.2)	(49.7)
Other non-operating expense	(9)	(3.7)	(14.9)	(13.1)
Income before taxes	168	146.8	467	432.2
Other (income) expense, net	(3)	10.8	66.9	27.5
Intersegment sales
Segment Information
Net sales to unaffiliated customers	24.8	19	69.3	55.5
Label and Graphic Materials
Segment Information
Net sales to unaffiliated customers	1,194.2	1,137.3	3,669.7	3,350
Label and Graphic Materials | Intersegment sales
Segment Information
Net sales to unaffiliated customers	20.9	16.2	59.6	47.9
Label and Graphic Materials | Operating segments
Segment Information
Income before taxes	152.9	147.5	418.1	436.6
Other (income) expense, net	(6)	3.2	59.9	10.4
Retail Branding and Information Solutions | Intersegment sales
Segment Information
Net sales to unaffiliated customers	1.3	0.7	2.9	2.3
Retail Branding and Information Solutions | Operating segments
Segment Information
Income before taxes	42.4	26.1	122.4	82.9
Other (income) expense, net	3	7.4	9.1	14
Industrial and Healthcare Materials
Segment Information
Net sales to unaffiliated customers	167.1	168.4	519.5	412.8
Industrial and Healthcare Materials | Intersegment sales
Segment Information
Net sales to unaffiliated customers	2.6	2.1	6.8	5.3
Industrial and Healthcare Materials | Operating segments
Segment Information
Income before taxes	15.3	14.2	44.9	39.1
Other (income) expense, net		0.2	0.2	3.1
Corporate expense
Segment Information
Income before taxes	$ (18.9)	$ (20.5)	(61.3)	$ (63.6)
Other (income) expense, net			$ (2.3)

Segment and Disaggregated Rev_5

Segment and Disaggregated Revenue Information - Other Expense, Net by Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Restructuring charges:
Restructuring charges, net of reversals			$ 65.7
Other items:
Other restructuring related charge			0.5
Net gain on sales of assets			(2.7)
Transaction costs		$ 0.3		$ 3.7
Other (income) expense, net	$ (3)	10.8	66.9	27.5
Argentina
Other items:
Transition loss on remeasurement of foreign currency	3.4		3.4
Severance and related costs
Restructuring charges:
Restructuring charges, net of reversals	(7.1)	8.7	56	21.7
Asset impairment charges and lease cancellation costs
Restructuring charges:
Restructuring charges, net of reversals	$ 0.7	$ 1.8	$ 9.7	$ 2.1

Supplemental Financial Inform_3

Supplemental Financial Information (Details) - USD ($) $ in Millions	Sep. 29, 2018	Dec. 30, 2017
Inventories
Raw materials	$ 254.8	$ 214.6
Work-in-progress	203.3	179.8
Finished goods	224.4	215.2
Inventories, net	682.5	609.6
Property, Plant and Equipment
Property, plant and equipment	2,992.4	3,000.9
Accumulated depreciation	(1,905.5)	(1,903)
Property, plant and equipment, net	$ 1,086.9	$ 1,097.9

Supplemental Financial Inform_4

Supplemental Financial Information - Equity Method Investment and Research and Development (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017	Dec. 30, 2017
Equity Method Investment
Carrying value of equity method investment	$ 7.2		$ 7.2		$ 9.1
Marketing, general and administrative expense
Research and Development
Research and development expense	$ 24.5	$ 23.6	$ 74.5	$ 70