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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 28, 2013	Feb. 22, 2014	Jun. 29, 2013
Document and Entity Information
Entity Registrant Name	Avery Dennison Corp
Entity Central Index Key	0000008818
Document Type	10-K
Document Period End Date	Dec. 28, 2013
Amendment Flag	false
Current Fiscal Year End Date	--12-28
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4,184,795,586
Entity Common Stock, Shares Outstanding		95,999,669
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012
Current assets:
Cash and cash equivalents	$ 351.6	$ 235.4
Trade accounts receivable, less allowances of $31.6 and $44.8 at year-end 2013 and 2012, respectively	1,016.5	972.8
Inventories, net	494.1	473.3
Current deferred and refundable income taxes	103.4	129.1
Assets held for sale	1.3	472.2
Other current assets	124.9	128.9
Total current assets	2,091.8	2,411.7
Property, plant and equipment, net	922.5	1,015.5
Goodwill	751.1	764.4
Other intangibles resulting from business acquisitions, net	96.0	125.0
Non-current deferred income taxes	263.4	331.6
Other assets	485.8	457.1
Total assets	4,610.6	5,105.3
Current liabilities:
Short-term borrowings and current portion of long-term debt and capital leases	76.9	520.2
Accounts payable	889.5	804.3
Accrued payroll and employee benefits	224.1	202.8
Accrued trade rebates	79.6	71.4
Current deferred and payable income taxes	49.3	65.1
Liabilities held for sale		160.5
Other accrued liabilities	234.7	250.2
Total current liabilities	1,554.1	2,074.5
Long-term debt and capital leases	950.6	702.2
Long-term retirement benefits and other liabilities	476.4	607.2
Non-current deferred and payable income taxes	137.3	140.5
Commitments and contingencies (see Notes 7 and 8)
Shareholders' equity:
Common stock, $1 par value per share, authorized - 400,000,000 shares at year-end 2013 and 2012; issued - 124,126,624 shares at year-end 2013 and 2012; outstanding - 96,178,411 shares and 99,915,457 shares at year-end 2013 and 2012, respectively	124.1	124.1
Capital in excess of par value	812.3	801.8
Retained earnings	2,009.1	1,910.8
Treasury stock at cost, 27,948,213 shares and 24,211,167 shares at year-end 2013 and 2012, respectively	(1,172.2)	(977.8)
Accumulated other comprehensive loss	(281.1)	(278.0)
Total shareholders' equity	1,492.2	1,580.9
Total liabilities and shareholders' equity	$ 4,610.6	$ 5,105.3

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012
Consolidated Balance Sheets
Trade accounts receivable, allowances (in dollars)	$ 31.6	$ 44.8
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	96,178,411	99,915,457
Treasury stock, shares	27,948,213	24,211,167

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Consolidated Statements of Income
Net sales	$ 6,140.0	$ 5,863.5	$ 5,844.9
Cost of products sold	4,502.3	4,335.3	4,369.6
Gross profit	1,637.7	1,528.2	1,475.3
Marketing, general and administrative expense	1,179.0	1,148.9	1,139.4
Interest expense	59.0	72.9	71.1
Other expense, net	36.6	68.8	51.6
Income from continuing operations before taxes	363.1	237.6	213.2
Provision for income taxes	118.8	80.0	71.5
Income from continuing operations	244.3	157.6	141.7
(Loss) income from discontinued operations, net of tax	(28.5)	57.8	48.4
Net income	$ 215.8	$ 215.4	$ 190.1
Net income (loss) per common share:
Continuing operations (in dollars per share)	$ 2.48	$ 1.54	$ 1.34
Discontinued operations (in dollars per share)	(0.29)	0.56	0.46
Net income per common share (in dollars per share)	2.19	2.10	1.80
Net income (loss) per common share, assuming dilution:
Continuing operations (in dollars per share)	2.44	1.52	1.33
Discontinued operations (in dollars per share)	(0.28)	0.56	0.45
Net income per common share, assuming dilution (in dollars per share)	2.16	2.08	1.78
Dividends per common share (in dollars per share)	$ 1.14	$ 1.08	$ 1.00
Average shares outstanding:
Common shares (in shares)	98.4	102.6	105.8
Common shares, assuming dilution (in shares)	100.1	103.5	106.8

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Consolidated Statements of Comprehensive Income
Net income	$ 215.8	$ 215.4	$ 190.1
Foreign currency translation adjustment:
Translation (loss) gain	(53.3)	43.6	(49.5)
Reclassifications to net income	10.8
Pension and other postretirement benefits:
Net actuarial gain (loss)	68.2	(111.6)	(158.7)
Prior service (cost) credit	(19.9)		34.1
Reclassifications to net income:
Amortization of net actuarial loss	28.4	20.3	14.3
Amortization of prior service credit	(3.3)	(4.0)	(1.7)
Amortization of transition asset	(0.1)	(0.5)	(0.5)
Net curtailment on pension and post-retirement benefit obligations	(13.3)
Settlement on pension obligations	1.2	0.6	(0.1)
Derivative financial instruments:
Losses (gains) recognized on cash flow hedges	1.0	(1.8)	(3.0)
Reclassifications to net income	0.3	9.7	6.4
Other comprehensive income (loss), before tax	20.0	(43.7)	(158.7)
Income tax expense (benefit) related to items of other comprehensive income (loss)	23.1	(28.9)	(38.4)
Other comprehensive (loss), net of tax	(3.1)	(14.8)	(120.3)
Total comprehensive income, net of tax	$ 212.7	$ 200.6	$ 69.8

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common stock, $1 par value	Capital in excess of par value	Retained earnings	Employee stock benefit trust	Treasury stock	Accumulated other comprehensive loss
Fiscal year ended at Jan. 01, 2011	$ 1,645.7	$ 124.1	$ 768.0	$ 1,727.9	$ (73.2)	$ (758.2)	$ (142.9)
Increase (Decrease) in Stockholders' Equity
Net income	190.1			190.1
Other comprehensive loss	(120.3)						(120.3)
Repurchase of 6,555,672, 7,927,344 and 316,757 shares for treasury for the years ended 2013, 2012, and 2011, respectively	(13.5)					(13.5)
Employee Stock Benefit Trust ("ESBT") transfer of 954,536 shares to treasury					31.4	(31.4)
Stock issued under stock-based compensation plans of shares, 2,240,185 and 713,571 for the years 2013 and 2012, including tax of $1.7, $(3.8) and $(1.3) for the years 2013, 2012 and 2011, dividends of $.6 paid on stock held in ESBT for the years ended 2011 (Transfer of 38,346 and 432,112 shares from Treasury and ESBT, respectively, for the year ended 2011)	38.6		20.7	0.1	16.5	1.3
Stock of 578,441 and 844,311 shares contributed to the Savings Plan ("401(k) Plan") for the year ended 2013 and 2012 (Transfer of 326,185 and 398,093 shares from treasury and ESBT, respectively, for the year ended 2011)	24.4			(1.1)	15.2	10.3
Dividends: $1.14, $1.08 and $1.00 per share for the year ended 2013, 2012 and 2011, respectively	(106.5)			(106.5)
ESBT market value adjustment			(10.1)		$ 10.1
Fiscal year ended at Dec. 31, 2011	1,658.5	124.1	778.6	1,810.5		(791.5)	(263.2)
Increase (Decrease) in Stockholders' Equity
Net income	215.4			215.4
Other comprehensive loss	(14.8)						(14.8)
Repurchase of 6,555,672, 7,927,344 and 316,757 shares for treasury for the years ended 2013, 2012, and 2011, respectively	(235.2)					(235.2)
Stock issued under stock-based compensation plans of shares, 2,240,185 and 713,571 for the years 2013 and 2012, including tax of $1.7, $(3.8) and $(1.3) for the years 2013, 2012 and 2011, dividends of $.6 paid on stock held in ESBT for the years ended 2011 (Transfer of 38,346 and 432,112 shares from Treasury and ESBT, respectively, for the year ended 2011)	41.8		23.2	(3.8)		22.4
Stock of 578,441 and 844,311 shares contributed to the Savings Plan ("401(k) Plan") for the year ended 2013 and 2012 (Transfer of 326,185 and 398,093 shares from treasury and ESBT, respectively, for the year ended 2011)	25.6			(0.9)		26.5
Dividends: $1.14, $1.08 and $1.00 per share for the year ended 2013, 2012 and 2011, respectively	(110.4)			(110.4)
Fiscal year ended at Dec. 29, 2012	1,580.9	124.1	801.8	1,910.8		(977.8)	(278.0)
Increase (Decrease) in Stockholders' Equity
Net income	215.8			215.8
Other comprehensive loss	(3.1)						(3.1)
Repurchase of 6,555,672, 7,927,344 and 316,757 shares for treasury for the years ended 2013, 2012, and 2011, respectively	(283.5)					(283.5)
Stock issued under stock-based compensation plans of shares, 2,240,185 and 713,571 for the years 2013 and 2012, including tax of $1.7, $(3.8) and $(1.3) for the years 2013, 2012 and 2011, dividends of $.6 paid on stock held in ESBT for the years ended 2011 (Transfer of 38,346 and 432,112 shares from Treasury and ESBT, respectively, for the year ended 2011)	69.6		10.5	(11.6)		70.7
Stock of 578,441 and 844,311 shares contributed to the Savings Plan ("401(k) Plan") for the year ended 2013 and 2012 (Transfer of 326,185 and 398,093 shares from treasury and ESBT, respectively, for the year ended 2011)	24.5			6.1		18.4
Dividends: $1.14, $1.08 and $1.00 per share for the year ended 2013, 2012 and 2011, respectively	(112.0)			(112.0)
Fiscal year ended at Dec. 28, 2013	$ 1,492.2	$ 124.1	$ 812.3	$ 2,009.1		$ (1,172.2)	$ (281.1)

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Repurchase of shares for treasury	6,600,000
Tax on stock issued under stock-based compensation plans	$ 1.7	$ (3.8)	$ (1.3)
Dividends per common share (in dollars per share)	$ 1.14	$ 1.08	$ 1.00
Employee stock benefit trust
Stock issued under stock-based compensation plans (in shares)			432,112
Stock issued under the Savings Plan (401(k) Plan) (in shares)			398,093
Dividends paid to employee stock benefit trust			$ 0.6
Share transferred to treasury from employee stock benefit trust			954,536
Treasury stock
Repurchase of shares for treasury	6,555,672	7,927,344	316,757
Stock issued under stock-based compensation plans (in shares)	2,240,185	713,571	38,346
Stock issued under the Savings Plan (401(k) Plan) (in shares)	578,441	844,311	326,185
Share transferred to treasury from employee stock benefit trust			954,536

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Operating Activities
Net income	$ 215.8	$ 215.4	$ 190.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	135.6	150.1	168.0
Amortization	69.0	70.5	78.5
Provision for doubtful accounts and sales returns	16.3	19.5	16.8
Gain on sale of businesses	(49.3)
Indefinite-lived intangible asset impairment charge		7.0
Asset impairment, net (gain) loss on sale/disposal of assets, and gain on sale of product line	(5.8)	11.7	9.9
Loss from debt extinguishment			0.7
Stock-based compensation	34.0	38.9	39.6
Other non-cash expense and loss	49.3	41.8	38.1
Other non-cash income and gain	(11.8)		(2.0)
Change in assets and liabilities and other adjustments:
Trade accounts receivable	(110.8)	(106.7)	(43.6)
Inventories	(75.9)	(0.8)	(22.2)
Other current assets	3.5	(7.6)	29.4
Accounts payable	108.2	68.0	31.3
Accrued liabilities	(21.2)	73.8	(94.9)
Taxes on income	(12.2)	12.4	37.6
Deferred taxes	54.1	(1.3)	(1.0)
Other assets	(5.4)	(4.0)	1.5
Long-term retirement benefits and other liabilities	(73.3)	(75.3)	(55.1)
Net cash provided by operating activities	320.1	513.4	422.7
Investing Activities
Purchases of property, plant and equipment	(129.2)	(99.2)	(109.6)
Purchases of software and other deferred charges	(52.2)	(59.1)	(26.0)
Proceeds from sale of product lines		0.8	21.5
Proceeds from sale of property, plant and equipment	38.7	4.2	4.6
Sales (purchases) of investments, net	0.1	(6.7)	0.3
Proceeds from sale of businesses, net of cash provided	481.2
Other	0.8		5.0
Net cash provided by (used in) investing activities	339.4	(160.0)	(104.2)
Financing Activities
Net (decrease) increase in borrowings (maturities of 90 days or less)	(435.3)	42.3	(146.4)
Additional borrowings (maturities longer than 90 days)	250.0
Payments of debt (maturities longer than 90 days)	(1.9)	(1.8)	(1.5)
Dividends paid	(112.0)	(110.4)	(106.5)
Share repurchases	(283.5)	(235.2)	(13.5)
Proceeds from exercise of stock options, net	44.8	10.2	3.9
Other	(8.3)	(2.7)	(7.5)
Net cash used in financing activities	(546.2)	(297.6)	(271.5)
Effect of foreign currency translation on cash balances	2.9	1.6	3.5
Increase in cash and cash equivalents	116.2	57.4	50.5
Cash and cash equivalents, beginning of year	235.4	178.0	127.5
Cash and cash equivalents, end of year	$ 351.6	$ 235.4	$ 178.0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 28, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

We develop innovative identification and decorative solutions for businesses and consumers worldwide. Our products include pressure-sensitive labeling technology and materials; graphics imaging media; retail branding and information solutions; radio-frequency identification ("RFID") inlays and tags; specialty tapes; and medical solutions.

Principles of Consolidation

The consolidated financial statements include the accounts of majority-owned subsidiaries. Intercompany accounts, transactions and profits are eliminated in consolidation. Investments representing less than 20% ownership and in which we do not have significant influence are accounted for using the cost method of accounting.

Financial Presentation

As further discussed in Note 2, "Discontinued Operations, Exit/Sale of Product Lines, Sale of Assets and Assets Held for Sale," we have classified the operating results of our Office and Consumer Products ("OCP") and Designed and Engineered Solutions ("DES") businesses, together with certain costs associated with their divestiture, as discontinued operations in the Consolidated Statements of Income for all periods presented. The results and financial condition of discontinued operations have been excluded from the notes to our Consolidated Financial Statements, except for certain prior-year balances related to the DES business and as otherwise indicated. Prior to this divestiture, the OCP business was reported as a reportable segment and the DES business was included in our other specialty converting businesses.

Certain prior year amounts have been reclassified to conform to current year presentation.

Segment Reporting

We have the following two reportable segments for financial reporting purposes:

•

Pressure-sensitive Materials – manufactures and sells pressure-sensitive labeling technology and materials, films for graphic and reflective applications, performance polymers (largely adhesives used to manufacture pressure-sensitive materials), and specialty tapes; and

•

Retail Branding and Information Solutions – designs, manufactures and sells a wide variety of branding and information products and services, including brand and price tickets, tags and labels (including RFID inlays), and related services, supplies and equipment.

Certain operating segments are aggregated or combined based on materiality, quantitative factors, and similar qualitative economic characteristics, including primary products, production processes, customers, and distribution methods. Operating segments that do not exceed the quantitative thresholds or are not considered for aggregation are reported in a category entitled "other specialty converting businesses," which is comprised of a business that produces medical solutions.

Refer to Note 13, "Segment Information," for further information.

Fiscal Year

Our 2013, 2012, and 2011 fiscal years consisted of 52-week periods ending December 28, 2013, December 29, 2012, and December 31, 2011, respectively.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, requires management to make estimates and assumptions for the reporting period and as of the financial statement date. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities and the reported amounts of revenue and expense. Actual results could differ from these estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand, deposits in banks, and short-term investments with maturities of three months or less when purchased. The carrying value of these assets approximates fair value due to the short maturity of the instruments. Cash paid for interest and income taxes, including amounts paid for discontinued operations, were as follows:

(In millions)	2013		2012		2011


Interest, net of capitalized amounts	$	64.1	$	68.0	$	65.0
Income taxes, net of refunds		129.4		97.7		70.5

Capital expenditures accrued but not paid, including amounts for discontinued operations, were $11.5 million in 2013, $12 million in 2012, and $9.5 million in 2011.

Accounts Receivable

We record trade accounts receivable at the invoiced amount. The allowances for doubtful accounts represent allowances for customer trade accounts receivable that are estimated to be partially or entirely uncollectible. The customer complaint reserve represents estimated sales returns and allowances. These allowances are used to reduce gross trade receivables to their net realizable values. We record these allowances based on estimates related to:

•

Customer-specific allowances;

•

Amounts based upon an aging schedule; and

•

An amount, based on our historical experience, for allowances not yet identified.

No single customer represented 10% or more of our net sales in, or trade accounts receivable at, year-end 2013 or 2012. However, during 2013, our ten largest customers by net sales represented 12% of our net sales. As of December 28, 2013, our ten largest customers by trade accounts receivable represented 14% of our trade accounts receivable. These customers were concentrated in the Pressure-sensitive Materials segment. We do not generally require our customers to provide collateral.

Inventories

Inventories are stated at the lower-of-cost-or-market value and are categorized as raw materials, work-in-progress or finished goods. Cost is determined using the first-in, first-out ("FIFO") method. Inventory reserves are recorded to cost of products sold for damaged, obsolete, excess and slow-moving inventory and we establish a lower cost basis for the inventory. We use estimates to record these reserves. Slow-moving inventory is reviewed by category and may be partially or fully reserved for depending on the type of product, level of usage, and the length of time the product has been included in inventory.

Net inventories at year-end were as follows:

(In millions)	2013		2012


Raw materials	$	196.3	$	184.5
Work-in-progress		149.0		139.2
Finished goods		148.8		149.6

Inventories, net	$	494.1	$	473.3

Property, Plant and Equipment

Major classes of property, plant and equipment, stated at cost, at year-end were as follows:

(In millions)	2013			2012


Land	$	47.0		$	56.5
Buildings and improvements		580.2			660.5
Machinery and equipment		2,001.3			2,090.5
Construction-in-progress		74.3			63.6

Property, plant and equipment		2,702.8			2,871.1
Accumulated depreciation		(1,780.3	)		(1,855.6	)

Property, plant and equipment, net	$	922.5		$	1,015.5

Depreciation is generally computed using the straight-line method over the estimated useful lives of the assets, ranging from three to forty-seven years for buildings and improvements and two to thirty years for machinery and equipment. Leasehold improvements are depreciated over the shorter of the useful life of the asset or the term of the associated leases. Maintenance and repair costs are expensed as incurred; renewals and betterments are capitalized. Upon the sale or retirement of assets, the accounts are relieved of the cost and the related accumulated depreciation, with any resulting gain or loss included in net income. The carrying amounts of capital lease assets were not significant at year-end 2013 and 2012.

Software

We capitalize internal and external software costs that are incurred during the application development stage of software development, including costs incurred for the design, coding, installation to hardware, testing, and upgrades and enhancements that provide additional functionalities and capabilities to the software and hardware. Internal and external software costs during the preliminary project stage are expensed, as are those costs during the post-implementation and/or operation stage, including internal and external training costs and maintenance costs.

Capitalized software, which is included in "Other assets" in the Consolidated Balance Sheets, is amortized on a straight-line basis over the estimated useful life of the software, ranging from two to ten years. Capitalized software costs at year-end were as follows:

(In millions)	2013			2012


Cost	$	427.9		$	388.4
Accumulated amortization		(264.6	)		(236.3	)

Software, net	$	163.3		$	152.1

Software amortization expense from continuing operations was $35.3 million in 2013, $30.7 million in 2012, and $32.1 million in 2011.

Impairment of Long-lived Assets

Impairment charges are recorded when the carrying amounts of long-lived assets are determined not to be recoverable. Recoverability is measured by comparing the undiscounted cash flows expected to result from their use and eventual disposition to the carrying value of the related asset or asset group. The amount of impairment loss is calculated as the excess of the carrying value over the fair value. Historically, changes in market conditions and management strategy have caused us to reassess the carrying amount of our long-lived assets.

Goodwill and Other Intangibles Resulting from Business Acquisitions

Business combinations are accounted for by the acquisition method, and the excess of the acquisition cost over the fair value of net tangible assets and identified intangible assets acquired is considered goodwill. As a result, we disclose goodwill separately from other intangible assets. Other identifiable intangibles include customer relationships, patents and other acquired technology, trade names and trademarks, and other intangibles.

We have the following reporting units: materials; retail branding and information solutions; reflective solutions; performance tapes; and medical solutions. In performing the required impairment tests, we primarily apply a present value (discounted cash flow) method to determine the fair value of the reporting units with goodwill. We perform our annual impairment test of goodwill during the fourth quarter.

Certain factors may result in the need to perform an impairment test prior to the fourth quarter, including significant underperformance of a business relative to expected operating results, significant adverse economic and industry trends, significant decline in our market capitalization for an extended period of time relative to net book value, or a decision to divest an individual business within a reporting unit.

We determine goodwill impairment using a two-step process. The first step is to identify if a potential impairment exists by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered to have a potential impairment and the second step of the impairment test is not necessary. However, if the carrying amount of a reporting unit exceeds its fair value, the second step is performed to determine if goodwill is impaired and to measure the amount of impairment loss to recognize, if any.

The second step, if necessary, compares the implied fair value of goodwill with the carrying amount of goodwill. If the implied fair value of goodwill exceeds the carrying amount, then goodwill is not considered impaired. However, if the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recognized in an amount equal to that excess.

In consultation with outside specialists, we estimate the fair value of our reporting units using various valuation techniques, with the primary technique being a discounted cash flow analysis. A discounted cash flow analysis requires us to make various assumptions about the reporting units, including sales, operating margins, growth rates, and discount rates. Assumptions about discount rates are based on a weighted-average cost of capital for comparable companies. Assumptions about sales, operating margins, and growth rates are based on our forecasts, business plans, economic projections, anticipated future cash flows and marketplace data. Assumptions are also made for varying perpetual growth rates for periods beyond the long-term business plan period. We base our fair value estimates on projected financial information and assumptions that we believe are reasonable. However, actual future results may differ from those estimates and projections, and those differences may be material. The valuation methodology used to estimate the fair value of reporting units requires inputs and assumptions that reflect current market conditions, as well as the impact of planned business and operational strategies that require management judgment. The estimated fair value could increase or decrease depending on changes in the inputs and assumptions.

We test indefinite-lived intangible assets, consisting of trademarks, for impairment in the fourth quarter or whenever events or circumstances indicate that it is more likely than not that their carrying values exceed their fair values. Fair value is estimated as the discounted value of future revenues using a royalty rate that a third party would pay for use of the asset. Variation in the royalty rates could impact the estimate of fair value. If the carrying amount of an asset exceeds its implied fair value, an impairment loss is recognized in an amount equal to that excess.

See also Note 3, "Goodwill and Other Intangibles Resulting from Business Acquisitions."

Foreign Currency

Asset and liability accounts of international operations are translated into U.S. dollars at current rates. Revenues and expenses are translated at the weighted-average currency rate for the fiscal year. Translation gains and losses of subsidiaries operating in hyperinflationary economies, if any, are included in net income in the period incurred. Gains and losses resulting from hedging the value of investments in certain international operations and from translation of balance sheet accounts are recorded directly as a component of other comprehensive income.

Gains and losses resulting from foreign currency transactions are included in income in the period incurred. Transactions in foreign currencies (including receivables, payables and loans denominated in currencies other than the functional currency), including hedging impacts, decreased net income by $7.9 million, $8.8 million, and $4.4 million in 2013, 2012, and 2011, respectively.

We had no operations in hyperinflationary economies in fiscal years 2013, 2012, or 2011.

Financial Instruments

We enter into foreign exchange hedge contracts to reduce our risk from 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.

On the date we enter into a derivative contract, we determine whether the derivative will be designated as a hedge. Those derivatives not designated as hedges are recorded on the balance sheets at fair value, with changes in the fair value recognized in earnings. Those derivatives designated as hedges are classified as either (1) a hedge of the fair value of a recognized asset or liability or an unrecognized firm commitment (a "fair value" hedge); or (2) a hedge of a forecasted transaction or the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a "cash flow" hedge). Our policy is not to purchase or hold any foreign currency, interest rate or commodity contracts for trading purposes.

We assess, both at the inception of the hedge and on an ongoing basis, whether hedges are highly effective. If it is determined that a hedge is not highly effective, we prospectively discontinue hedge accounting. For cash flow hedges, the effective portion of the related gains and losses is recorded as a component of other comprehensive income, and the ineffective portion is reported in earnings. Amounts in accumulated other comprehensive income (loss) are reclassified into earnings in the same period during which the hedged transaction affects earnings. In the event the anticipated transaction is no longer likely to occur, we recognize the change in fair value of the instrument in current period earnings. Changes in fair value hedges are recognized in current period earnings. Changes in the fair value of underlying hedged items (such as recognized assets or liabilities) are also recognized in current period earnings and offset the changes in the fair value of the derivative.

In the Consolidated Statements of Cash Flows, hedge transactions are classified in the same category as the item hedged, primarily in operating activities.

See also Note 5, "Financial Instruments."

Fair Value Measurements

We define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability.

We determine fair value based on a three-tier fair value hierarchy, which we use to prioritize the inputs used in measuring fair value. These tiers consist of Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring us to develop our own assumptions to determine the best estimate of fair value.

Treasury Shares

We fund a portion of our employee-related expenses using shares of our common stock held in treasury. We elected to record net gains or losses associated with our use of treasury shares to retained earnings.

Revenue Recognition

Sales are recognized when persuasive evidence of an arrangement exists, pricing is determinable, delivery has occurred based on applicable sales terms, and collection is reasonably assured. Sale terms are generally free on board (f.o.b.) shipping point or f.o.b. destination, depending upon local business customs. For most regions in which we operate, f.o.b. shipping point terms are utilized and sales are recorded at the time of shipment, because this is when title and risk of loss are transferred. In certain regions, notably in Europe, f.o.b. destination terms are generally utilized and sales are recorded when the products are delivered to the customer's delivery site, because this is when title and risk of loss are transferred. Furthermore, sales, provisions for estimated returns, and the cost of products sold are recorded at the time title transfers to customers and when the customers assume the risks and rewards of ownership. Actual product returns are charged against estimated sales return allowances.

Sales rebates and discounts are common practice in the industries in which we operate. Volume, promotional, price, cash and other discounts and customer incentives are accounted for as a reduction to gross sales. Rebates and discounts are recorded based upon estimates at the time products are sold. These estimates are based upon historical experience for similar programs and products. We review these rebates and discounts on an ongoing basis and accruals for rebates and discounts are adjusted, if necessary, as additional information becomes available.

Advertising Costs

Advertising costs from continuing operations, which are included in "Marketing, general and administrative expense" in the Consolidated Statements of Income, were $10.6 million in 2013, $8.9 million in 2012, and $9.3 million in 2011. Our policy is to expense advertising costs as incurred.

Research and Development

Research and development costs are related to research, design and testing of new products and applications and are expensed as incurred. Research and development expense from continuing operations, which is included in "Marketing, general and administrative expense" in the Consolidated Statements of Income, was $96 million in 2013, $98.6 million in 2012, and $93.8 million in 2011.

Pension and Postretirement Benefits

Assumptions used in determining projected benefit obligations and the fair value of plan assets for our defined benefit pension plans and other postretirement benefit plans are evaluated by management in consultation with outside actuaries. In the event that we determine that changes are warranted in the assumptions used, such as the discount rate, expected long-term rate of return, or health care costs, future pension and postretirement benefit expenses could increase or decrease. Due to changes in market conditions or participant population, the actuarial assumptions that we use may differ from actual results, which could have a significant impact on our pension and postretirement liability and related cost. Refer to Note 6, "Pension and Other Postretirement Benefits," for further information on these assumptions.

Product Warranty

We provide for an estimate of costs that may be incurred under our basic limited warranty at the time product revenue is recognized. These costs primarily include materials and labor associated with the service or sale of the product. Factors that affect our warranty liability include the number of units installed or sold, historical and anticipated rate of warranty claims on those units, cost per claim to satisfy our warranty obligation and availability of insurance coverage. Because these factors are impacted by actual experience and future expectations, we assess the adequacy of our recorded warranty liability and adjust the amounts as necessary. Our product warranty liability was $1.3 million and $.5 million at year-end 2013 and 2012, respectively.

Long-Term Incentive Compensation

No long-term incentive compensation expense was capitalized for the years ended 2013, 2012, or 2011.

Changes in forfeiture rates are recorded as a cumulative adjustment in the period estimates are revised.

Valuation of Stock-Based Awards

Our stock-based compensation expense is based on the fair value of awards, adjusted for estimated forfeitures, and is amortized on a straight-line basis over the requisite service period for stock options, restricted stock units ("RSUs"), and performance units ("PUs"). The compensation expense related to market-leveraged stock units ("MSUs") is based on the fair value of awards, adjusted for estimated forfeitures, and is amortized on a graded-vesting basis over their respective performance periods.

Compensation expense awards with a market condition as a performance objective, which includes PUs and MSUs, is not adjusted if the condition is not met, as long as the requisite service period is met.

The fair value of stock options is estimated as of the date of grant using the Black-Scholes option-pricing model. This model requires input assumptions for our expected dividend yield, expected stock price volatility, risk-free interest rate and the expected option term.

The fair value of RSUs and certain PUs that are subject to achievement of performance objectives based on a performance condition is determined based on the closing price of our common stock as of the date of grant, adjusted for foregone dividends.

The fair value of stock-based awards that are subject to achievement of performance objectives based on a market condition, which includes PUs and MSUs, is determined using the Monte-Carlo simulation model, which utilizes multiple input variables, including expected volatility assumptions and other assumptions appropriate for determining fair value, to estimate the probability of satisfying the target performance objectives established for the award.

Certain of these assumptions are based on management's estimates, in consultation with outside specialists. Significant changes in assumptions for future awards and actual forfeiture rates could materially impact stock-based compensation expense and our results of operations.

Valuation of Cash-Based Awards

Cash-based awards consist of long-term incentive units ("LTI Units") granted to eligible employees. Cash-based awards are classified as liability awards and are remeasured at each quarter-end over the applicable vesting or performance period. In addition to LTI units that mirror the terms and conditions of RSUs, we also grant certain employees LTI units that mirror the terms and conditions of PUs and MSUs.

Accounting for Income Taxes for Stock-Based Compensation

We elected to use the short-cut method to calculate the historical pool of windfall tax benefits related to employee and non-employee director stock-based compensation awards. In addition, we elected to follow the tax law ordering approach to determine the sequence in which deductions and net operating loss carryforwards are utilized, as well as the direct-only approach to calculate the amount of windfall or shortfall tax benefits.

See also Note 10, "Long-term Incentive Compensation."

Litigation Matters

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, and such liabilities are not discounted. Refer to Note 8, "Contingencies," for further information.

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 costs of compliance 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. 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, and such liabilities are not discounted. Refer to Note 8, "Contingencies," for further information.

Asset Retirement Obligations

We recognize a liability for the fair value of conditional asset retirement obligations based on estimates determined through present value techniques. An asset retirement is "conditional" when the timing and/or method of settlement of the retirement obligation is conditional upon a future event that may or may not be within our control. Our asset retirement obligations primarily relate to lease restoration costs. Our estimated liability associated with asset retirement obligations was $5.4 million and $11.9 million at year-end 2013 and 2012, respectively.

Restructuring Costs

We have compensation plans that provide eligible employees with severance in the event of an involuntary termination due to qualifying cost reduction actions. We calculate severance using the benefit formula under the plans. Accordingly, we record provisions for severance and other exit costs (including asset impairment charges and lease and other contract cancellation costs) when they are probable and estimable. In the absence of a plan or established local practice for overseas jurisdictions, liabilities for restructuring costs are recognized when incurred. See also Note 11, "Cost Reduction Actions."

Taxes Based on Income

Deferred tax assets and liabilities reflect temporary differences between the amount of assets and liabilities for financial and tax reporting purposes. These amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when the temporary differences reverse. A valuation allowance is recorded to reduce our deferred tax assets to the amount that is more likely than not to be realized. Changes in tax laws or accounting standards and methods may affect recorded deferred taxes in future periods.

Income taxes have not been provided on certain undistributed earnings of international subsidiaries because the earnings are considered to be indefinitely reinvested.

When establishing a valuation allowance, we consider future sources of taxable income such as "future reversals of existing taxable temporary differences, future taxable income exclusive of reversing temporary differences and carryforwards" and "tax planning strategies." A tax planning strategy is defined as "an action that: is prudent and feasible; an enterprise ordinarily might not take, but would take to prevent an operating loss or tax credit carryforward from expiring unused; and would result in realization of deferred tax assets." In the event we determine a deferred tax asset will not be realized in the future, the valuation adjustment to the deferred tax asset will be charged to earnings in the period in which we make such a determination. We also acquired certain net deferred tax assets with existing valuation allowances in prior years. If it is later determined that it is more likely than not that a deferred tax asset will be realized, we will release the valuation allowance to current earnings or adjust the purchase price allocation.

We calculate our current and deferred tax provision based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed in subsequent years. Adjustments based on filed returns are recorded when identified.

Investment tax credits are accounted for in the period earned in accordance with the flow-through method.

The amount of income taxes we pay is subject to ongoing audits by federal, state and foreign tax authorities. Our estimate of the potential outcome of any uncertain tax issue is subject to management's assessment of relevant risks, facts, and circumstances existing at that time. We use a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured and tax position taken or expected to be taken on our tax returns. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. We report tax-related interest and penalties as a component of income tax expense.

Our estimates and assumptions used for determining realization of deferred tax assets and the outcome of uncertain tax issues are subject to our assessment of relevant risks, facts, and circumstances existing as of the balance sheet date. Our future results may include favorable or unfavorable adjustments that may materially impact our effective tax rate and/or our financial results.

See also Note 12, "Taxes Based on Income."

Net Income Per Share

Net income per common share was computed as follows:

(In millions, except per share amounts)		2013			2012		2011


(A)	Income from continuing operations	$	244.3		$	157.6	$	141.7
(B)	(Loss) income from discontinued operations, net of tax		(28.5	)		57.8		48.4

(C)	Net income available to common shareholders	$	215.8		$	215.4	$	190.1

(D)	Weighted-average number of common shares outstanding		98.4			102.6		105.8
	Dilutive shares (additional common shares issuable under employee stock-based awards)		1.7			.9		1.0

(E)	Weighted-average number of common shares outstanding, assuming dilution		100.1			103.5		106.8

Net income (loss) per common share:
Continuing operations (A) ÷ (D)		$	2.48		$	1.54	$	1.34
Discontinued operations (B) ÷ (D)			(.29	)		.56		.46

Net income per common share (C) ÷ (D)		$	2.19		$	2.10	$	1.80

Net income (loss) per common share, assuming dilution:
Continuing operations (A) ÷ (E)		$	2.44		$	1.52	$	1.33
Discontinued operations (B) ÷ (E)			(.28	)		.56		.45

Net income per common share, assuming dilution (C) ÷ (E)		$	2.16		$	2.08	$	1.78

Certain stock-based compensation awards were not included in the computation of net income per common share, assuming dilution, because they would not have had a dilutive effect. Stock-based compensation awards excluded from the computation totaled approximately 7 million shares in 2013, 12 million shares in 2012, and 11 million shares in 2011.

Comprehensive Income

Comprehensive income, net of tax, includes net income, foreign currency translation adjustment, net actuarial loss, prior service cost and net transition assets, and the gains or losses on the effective portion of cash flow and firm commitment hedges that are currently presented as a component of shareholders' equity.

The changes in "Accumulated other comprehensive loss" (net of tax) for the year 2013 were as follows:

(In millions)	Net Gain (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges			Net Actuarial Gain (Loss), Prior Service Cost and Net Transition Assets, Less Amortization			Foreign Currency Translation Adjustment			Total


Balance as of December 29, 2012	$	(2.0	)	$	(456.5	)	$	180.5		$	(278.0	)
Other comprehensive income (loss) before reclassifications, net of tax		.8			29.4			(53.3	)		(23.1	)
Reclassifications to net income, net of tax		.2			9.0			10.8			20.0

Net current-period other comprehensive income (loss), net of tax		1.0			38.4			(42.5	)		(3.1	)

Balance as of December 28, 2013	$	(1.0	)	$	(418.1	)	$	138.0		$	(281.1	)

Cash flow and firm commitment hedging instrument activities in other comprehensive loss, net of tax, were as follows:

(In millions)	2012


Beginning accumulated derivative loss	$	(6.9	)
Reclassifications to net income		6.0
Net change in the revaluation of hedging transactions		(1.1	)

Ending accumulated derivative loss	$	(2.0	)

The effects of amounts reclassified from "Accumulated other comprehensive loss" to income from continuing operations for the year 2013 were as follows:

(In millions)	Amounts Reclassified from Accumulated Other Comprehensive Loss			Affected Line Item in the Statement Where Net Income is Presented


Gains (losses) on cash flow hedges:
Foreign exchange contracts	$	.6		Cost of products sold
Commodity contracts		(1.2	)	Cost of products sold
Interest rate contracts		(.1	)	Interest expense

		(.7	)	Total before tax
		.2		Benefit from income taxes

		(.5	)	Net of tax
Amortization of defined benefit pension items		(23.5	)	(a)
		7.8		Benefit from income taxes

		(15.7	)	Net of tax

Total reclassifications for the period	$	(16.2	)	Total, net of tax

(a): See Note 6, "Pension and Other Postretirement Benefits," for more information.

During 2013, we reclassified $6.4 million (net of tax) from "Accumulated other comprehensive loss" to "(Loss) income from discontinued operations, net of tax," related to a net gain from curtailment in our domestic defined benefit plans and settlements from certain international pension plans as a result of the sale of the OCP and DES businesses. Refer to Note 6, "Pension and Other Postretirement Benefits," for more information.

Additionally, during 2013, we recognized $10.8 million (net of tax) of currency translation loss from "Accumulated other comprehensive loss" to "(Loss) income from discontinued operations, net of tax" as a result of the sale of the OCP and DES businesses.

The following table sets forth the tax expense (benefit) allocated to each component of other comprehensive income (loss):

(In millions)	2013			2012			2011


Foreign currency translation adjustment	$	–		$	.9		$	–
Pension and other postretirement benefits:
Net actuarial gain (loss)		26.4			(38.3	)		(56.4	)
Prior service (cost) credit		(7.5	)		–			12.8
Reclassifications to net income:
Amortization of net actuarial loss		9.4			6.9			4.7
Amortization of prior service credit		(1.3	)		(1.5	)		(.7	)
Amortization of transition asset		–			(.1	)		(.1	)
Net curtailment on pension and post-retirement benefit obligations		(4.8	)		–			–
Settlement on pension obligations		.6			.2			–
Derivative financial instruments:
Losses (gains) recognized on cash flow hedges		.2			(.7	)		(1.1	)
Reclassifications to net income		.1			3.7			2.4

Income tax expense (benefit) related to items of other comprehensive income (loss)	$	23.1		$	(28.9	)	$	(38.4	)

Business Combinations

We record the assets acquired and liabilities assumed from acquired businesses at fair value, and we make estimates and assumptions to determine fair value.

We utilize a variety of assumptions and estimates that are believed to be reasonable in determining fair value for assets acquired and liabilities assumed. These assumptions and estimates include estimated discounted cash flow analysis, growth rates, discount rates, current replacement cost for similar capacity for certain assets, market rate assumptions for certain obligations and certain potential costs of compliance with environmental laws related to remediation and cleanup of acquired properties. We also utilize information obtained from management of the acquired businesses and our historical experience from previous acquisitions.

We apply significant assumptions and estimates in determining the fair values of certain intangible assets resulting from the acquisitions (such as customer relationships, patents and other acquired technology, and trademarks and trade names, as well as related applicable useful lives), property, plant and equipment, receivables, inventories, investments, tax accounts, environmental liabilities, stock-based compensation awards, lease commitments and restructuring and integration costs. Unanticipated events and circumstances may occur that could affect the accuracy or validity of such assumptions, estimates or actual results. Generally, changes to the fair values of assets acquired and liabilities assumed (including cost estimates for certain obligations and liabilities) are recorded as an adjustment to goodwill during the purchase price allocation period (generally within one year of the acquisition date) and as operating expenses thereafter.

Assets Held for Sale

We measure assets held for sale at the lower of their carrying amount or fair value less costs to sell.

Recent Accounting Requirements

In July 2013, the Financial Accounting Standards Board ("FASB") issued guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar loss, or a tax credit carryforward exists. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. We do not anticipate that adoption of this guidance will have a significant impact on our financial position, results of operations, cash flows, or disclosures.

In March 2013, the FASB issued new accounting guidance clarifying the accounting for the release of cumulative translation adjustments into net income when a parent company either (i) sells a part or all of its investment in a foreign entity or (ii) no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. We do not anticipate that adoption of this guidance will have a significant impact on our financial position, results of operations, cash flows, or disclosures.

Transactions with Related Persons

We enter into transactions with related persons infrequently. In cases in which we do enter into these transactions, we believe that they are in the ordinary course of business and on terms that would have been obtained from unaffiliated third persons.

One of our former directors, Peter W. Mullin, who retired from our Board of Directors on April 25, 2013, was the chairman, chief executive officer and majority stockholder in various entities (collectively referred to as the "Mullin Companies") that previously provided executive compensation, benefits consulting and insurance agency services to us. In October 2008, the assets of the Mullin Companies were sold to a subsidiary of Prudential Financial, Inc. ("Prudential"). We pay premiums to insurance carriers for life insurance originally placed by the Mullin Companies in connection with our various employee benefit plans. Mr. Mullin received approximately $.1 million in each of the fiscal years ended 2012 and 2011, from the commissions earned by Prudential from those insurance carriers. Mr. Mullin's share of the commissions was determined in accordance with the terms of a commission sharing agreement entered into between Mr. Mullin and Prudential at the time of the sale. In addition, substantially all of the life insurance policies we originally placed through the Mullin Companies were issued by insurance carriers that participated in reinsurance agreements with M Life Insurance Company ("M Life"), a wholly-owned subsidiary of M Financial Holdings, Inc., a company in which the Mullin Companies own a minority interest and for which Mr. Mullin serves as chairman. Mr. Mullin received approximately $.3 million and $.1 million in 2012 and 2011, respectively, from the net reinsurance gains of M Life. A portion of the reinsurance gains received by Mr. Mullin were subject to forfeiture in certain circumstances.

DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE

12 Months Ended

Dec. 28, 2013

DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE

DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE

NOTE 2. DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE

Discontinued Operations

In December 2011, we signed an agreement to sell our OCP business to 3M Company ("3M") for gross cash proceeds of $550 million, subject to adjustment in accordance with the terms of the agreement. This business comprised substantially all of our previously reported OCP segment. On October 3, 2012, we and 3M mutually agreed to terminate the agreement. We continued to pursue the divestiture of the OCP business through the end of 2012 and classified its operating results, together with certain costs associated with the planned divestiture, as discontinued operations in the Consolidated Statements of Income for all periods presented.

On January 29, 2013, we entered into an agreement to sell our OCP and DES businesses to CCL Industries Inc. ("CCL"). As part of the agreement with CCL, we agreed to enter into a supply agreement at closing, pursuant to which CCL would purchase certain pressure-sensitive label stock, adhesives and other base material products for up to six years after closing. While the supply agreement is expected to continue generating revenues and cash flows from the OCP and DES businesses, our continuing involvement in the OCP and DES operations is not expected to be significant to us as a whole.

On July 1, 2013, we completed the sale for a total purchase price of $500 million ($481.2 million net of cash provided) and entered into an amendment to the purchase agreement, which, among other things, increased the target net working capital amount and amended provisions related to employee matters and indemnification. We continue to be subject to indemnification provisions, including for breaches of certain representations, warranties, and covenants, under the terms of the purchase agreement. In addition, the tax liability associated with the sale is subject to completion of tax return filings in the jurisdictions in which the OCP and DES businesses operated.

The operating results of the discontinued operations and loss on sale were as follows:

(In millions)	2013			2012		2011


Net sales	$	380.4		$	912.3	$	956.2

(Loss) income before taxes, including divestiture-related and restructuring costs	$	(12.4	)	$	86.4	$	84.6
Provision for income taxes		.1			28.6		36.2

(Loss) income from discontinued operations, net of tax before loss on sale		(12.5	)		57.8		48.4
Loss on sale, net of tax provision of $65.4		(16.0	)		–		–

(Loss) income from discontinued operations, net of tax	$	(28.5	)	$	57.8	$	48.4

The (loss) income before taxes, including divestiture-related and restructuring costs, for 2013 included a curtailment gain associated with our postretirement health and welfare benefit plans, partially offset by divestiture-related costs. Refer to Note 6, "Pension and Other Postretirement Benefits," for information regarding the curtailment gain. The (loss) income from discontinued operations, net of tax, reflected the elimination of certain corporate cost allocations. The income tax provision included in the net loss on sale reflects tax versus book basis differences, primarily associated with goodwill.

Net sales from continuing operations to discontinued operations were $45.8 million, $100 million, and $100 million during 2013, 2012, and 2011, respectively. These sales have been included in "Net sales" in the Consolidated Statements of Income.

The assets and liabilities of the OCP business were classified as "held for sale" at December 29, 2012, as we continued to pursue the sale of this business through the end of 2012 and into 2013. The assets and liabilities of the DES business were classified as "held for sale" since the first quarter of 2013 in connection with our agreement to sell both businesses to CCL, as discussed above.

The carrying values of the major classes of assets and liabilities of the OCP business that were classified as "held for sale" were as follows:

(In millions)	2012


Assets
Trade accounts receivable, net	$	119.0
Inventories, net		57.2
Other current assets		7.7

Total current assets		183.9
Property, plant and equipment, net		79.5
Goodwill		167.9
Other intangibles resulting from business acquisitions, net		32.5
Other assets		8.4

	$	472.2

Liabilities
Short-term borrowings	$	–
Accounts payable		31.2
Accrued payroll and employee benefits		21.2
Other accrued liabilities		91.9

Total current liabilities		144.3
Non-current liabilities		16.2

	$	160.5

Exit/Sale of Product Lines

In the third quarter of 2012, we exited certain product lines in the previously reported OCP segment, incurring exit costs of $3.9 million (included in "Other expense, net" in the Consolidated Statements of Income). The operating results of these product lines, which are not significant, were included in other specialty converting businesses for all periods presented.

In 2011, we received proceeds totaling $21.5 million from the sale of two product lines, one from our performance films business ($21 million) and the other from our label and packaging materials business ($.5 million). In 2012, we received an additional $.8 million from the product line sale in our label and packaging materials business. In connection with the sale of the product line from the performance films business, we recognized a gain of $5.6 million in 2011 (included in "Other expense, net" in the Consolidated Statements of Income).

Sale of Assets and Assets Held for Sale

In March 2013, we entered into an agreement to sell the property and equipment of our corporate headquarters in Pasadena, California for approximately $20 million. In April 2013, we completed the sale and recognized a pre-tax gain of $10.9 million in "Other expense, net" in the Consolidated Statements of Income. During 2013, we also completed the sale of certain property, plant and equipment in China for approximately $11 million, as well as the sale of a research facility also located in Pasadena, California for approximately $5 million.

In the third quarter of 2013, we classified certain properties and equipment that we are in the process of selling as "held for sale" in the Consolidated Balance Sheets at December 28, 2013. The carrying value of these assets was $1.3 million as of December 28, 2013.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

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+ Details

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS

12 Months Ended

Dec. 28, 2013

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS

NOTE 3. GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS

Results from our annual impairment test in the fourth quarter of 2013 indicated that no impairment had occurred in 2013 related to goodwill and indefinite-lived intangible assets. The fair value of these assets was primarily based on Level 3 inputs.

Goodwill

Changes in the net carrying amount of goodwill for 2013 and 2012, by reportable segment and other businesses, were as follows:

(In millions)	Pressure- sensitive Materials			Retail Branding and Information solutions			Other specialty converting businesses			Total


Goodwill as of December 31, 2011	$	336.7		$	419.1		$	3.5		$	759.3
Foreign currency translation adjustments		1.6			3.5			–			5.1

Goodwill as of December 29, 2012		338.3			422.6			3.5			764.4
Divestiture (1)		–			–			(3.5	)		(3.5	)
Acquisition adjustments		–			(.2	)		–			(.2	)
Translation adjustments		(3.9	)		(5.7	)		–			(9.6	)

Goodwill as of December 28, 2013	$	334.4		$	416.7		$	–		$	751.1

(1): See Note 2, "Discontinued Operations, Exit/Sale of Product Lines, Sale of Assets and Assets Held for Sale," for more information.

The carrying amount of goodwill at December 28, 2013 and December 29, 2012 was net of accumulated impairment losses of $820 million, which were reported in the Retail Branding and Information Solutions segment.

Indefinite-Lived Intangible Assets

The carrying value of indefinite-lived intangible assets resulting from business acquisitions, consisting of trademarks, was $10.9 million and $11.1 million at December 28, 2013 and December 29, 2012, respectively.

In conjunction with the preparation of our annual impairment test in the fourth quarter of 2012, we determined that the carrying value of our indefinite-lived intangible assets exceeded its fair value which resulted in a non-cash impairment charge of $7 million, which was recorded in "Other expense, net" in the Consolidated Statements of Income. This charge was included in the Retail Branding and Information Solutions reportable segment. The fair value of these assets was primarily based on Level 3 inputs.

Finite-Lived Intangible Assets

The following table sets forth our finite-lived intangible assets resulting from business acquisitions at December 28, 2013 and December 29, 2012, which continue to be amortized:

	2013						2012

(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Customer relationships	$	234.1	$	164.6	$	69.5	$	234.7	$	142.3	$	92.4
Patents and other acquired technology		48.9		38.3		10.6		49.0		34.0		15.0
Trade names and trademarks		26.2		22.5		3.7		25.7		21.9		3.8
Other intangibles		12.4		11.1		1.3		12.4		9.7		2.7

Total	$	321.6	$	236.5	$	85.1	$	321.8	$	207.9	$	113.9

The finite-lived intangible assets related to our OCP business were classified in the Consolidated Balance Sheets at year-end 2012 as "Assets held for sale." See Note 2, "Discontinued Operations, Exit/Sale of Product Lines, Sale of Assets and Assets Held for Sale," for more information.

Amortization expense from continuing operations for finite-lived intangible assets resulting from business acquisitions was $28.5 million for 2013, $29.9 million for 2012, and $30.3 million for 2011.

The estimated amortization expense from continuing operations for finite-lived intangible assets resulting from business acquisitions for each of the next five fiscal years is expected to be as follows:

(In millions)	Estimated Amortization Expense


2014	$	24.3
2015		20.9
2016		19.5
2017		10.0
2018		2.5

As of December 28, 2013, the weighted-average amortization periods from the date of acquisition and weighted-average remaining useful lives of finite-lived intangible assets were as follows:

(In years)	Weighted-average Amortization Periods from the Date of Acquisition	Weighted-average Remaining Useful Life


Customer relationships	11	3
Patents and other acquired technology	13	3
Trade names and trademarks	12	6
Other intangibles	6	1

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

DEBT AND CAPITAL LEASES

12 Months Ended

Dec. 28, 2013

DEBT AND CAPITAL LEASES

DEBT AND CAPITAL LEASES

NOTE 4. DEBT AND CAPITAL LEASES

Short-Term Borrowings

We had no outstanding short-term variable rate borrowings from commercial paper issuances at December 28, 2013, and $187 million outstanding (weighted-average interest rate of .4%) at December 29, 2012. A portion of our outstanding borrowings at December 29, 2012 was repaid using the net proceeds from the $250 million issuance of senior notes discussed below, as well as the net proceeds from divestitures.

Short-Term Credit Facilities

In December 2011, we amended and restated our revolving credit facility (the "Revolver") with certain domestic and foreign banks, which reduced the amount available thereunder from $1 billion to $675 million. The amendment also extended the Revolver's maturity date to December 22, 2016, modified the minimum interest coverage financial covenant level, and adjusted pricing to reflect market conditions. The maturity date may be extended for one-year periods under certain circumstances as set forth in the agreement. Commitments under the Revolver may be increased by up to $250 million, subject to lender approval and customary requirements. Financing available under the Revolver is used as a back-up facility for our commercial paper issuances and can be used to finance other corporate requirements. In conjunction with the amendment, we recorded a debt extinguishment loss of $.7 million (included in "Other expense, net" in the Consolidated Statements of Income) in the fourth quarter of 2011 related to the unamortized debt issuance costs for the previous Revolver. No balances were outstanding under the Revolver as of December 28, 2013 or December 29, 2012. Commitment fees associated with this facility in 2013, 2012, and 2011 were $1.4 million, $1.4 million, and $2.5 million, respectively.

Uncommitted lines of credit were approximately $371 million and $411 million at December 28, 2013 and December 29, 2012, respectively. These lines may be cancelled at any time by us or the issuing banks. Short-term borrowings outstanding under uncommitted lines of credit were $73.9 million (weighted-average interest rate of 11.2%) and $81.1 million (weighted-average interest rate of 11.2%) at December 28, 2013 and December 29, 2012, respectively.

Long-Term Borrowings and Capital Leases

Long-term debt, including its respective interest rates, and capital lease obligations at year-end consisted of the following:

(In millions)	2013			2012


Long-term debt and capital leases
Medium-term notes:
Series 1995 due 2015 through 2025	$	50.0		$	50.0
Long-term notes
Senior notes due 2013 at 4.9%		–			250.0
Senior notes due 2017 at 6.6%		249.6			249.4
Senior notes due 2020 at 5.4%		249.9			249.9
Senior notes due 2023 at 3.4%		249.7			–
Senior notes due 2033 at 6.0%		150.0			150.0
Capital lease obligations		3.0			4.8
Less amount classified as current		(1.6	)		(251.9	)

Total long-term debt and capital leases	$	950.6		$	702.2

Our medium-term notes have maturities from 2015 through 2025 and accrue interest at an average fixed rate of 7.5%.

Maturities of long-term debt and capital leases for each of the next five fiscal years and thereafter are expected to be as follows:

Year	(In millions)


2014 (classified as current)	$	1.6
2015		5.7
2016		.2
2017		249.7
2018		.2
2019 and thereafter		694.8

In April 2013, we issued $250 million of senior notes due April 2023. The notes bear an interest rate of 3.35% per year, payable semiannually in arrears. The net proceeds from the offering, after deducting underwriting discounts and offering expenses, were approximately $247.5 million and were used to repay a portion of the indebtedness outstanding under our commercial paper program during the second quarter of 2013.

In January 2013, we repaid $250 million of senior notes due in 2013 using commercial paper borrowings.

Other

Our various loan agreements require that we maintain specified financial covenant ratios of total debt and interest expense in relation to certain measures of income. As of December 28, 2013, we were in compliance with our financial covenants.

Our total interest costs from continuing operations in 2013, 2012, and 2011 were $62.3 million, $76.2 million, and $75.9 million, respectively, of which $3.3 million, $3.3 million, and $4.8 million, respectively, were capitalized as part of the cost of assets.

The estimated fair value of our long-term debt is primarily based on the credit spread above U.S. Treasury securities on notes with similar rates, credit ratings, and remaining maturities. The fair value of short-term borrowings, which include commercial paper and short-term lines of credit, approximates carrying value given the short duration of these obligations. The fair value of our total debt was $1.06 billion at December 28, 2013 and $1.31 billion at December 29, 2012. Fair value amounts were determined primarily based on Level 2 inputs. Refer to Note 1, "Summary of Significant Accounting Policies."

FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 28, 2013

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS

NOTE 5. FINANCIAL INSTRUMENTS

As of December 28, 2013, the aggregate U.S. dollar equivalent notional value of our outstanding commodity contracts and foreign exchange contracts was $4.4 million and $1.9 billion, respectively.

We recognize all derivative instruments as either assets or liabilities at fair value in the Consolidated Balance Sheets. We designate commodity forward contracts on forecasted purchases of commodities and foreign exchange contracts on forecasted transactions as cash flow hedges and foreign exchange contracts on existing balance sheet items as fair value hedges.

The following table provides the fair value and balance sheet locations of derivatives as of December 28, 2013:

	Asset			Liability

(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value

Foreign exchange contracts	Other current assets	$	3.1	Other accrued liabilities	$	4.7
Commodity contracts	Other current assets		.1	Other accrued liabilities		–

		$	3.2		$	4.7

The following table provides the fair value and balance sheet locations of derivatives as of December 29, 2012:

	Asset			Liability

(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value

Foreign exchange contracts	Other current assets	$	10.0	Other accrued liabilities	$	2.8
Commodity contracts				Other accrued liabilities		.9
Commodity contracts				Long-term retirement benefits and other liabilities		.1

		$	10.0		$	3.8

Fair Value Hedges

For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative and the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings, resulting in no net material impact to income.

The following table provides the components of the gain (loss) recognized in income related to fair value hedge contracts. The corresponding gains or losses on the underlying hedged items approximated the net gain (loss) on these fair value hedge contracts.

(In millions)	Location of Gain (Loss) in Income	2013			2012		2011


Foreign exchange contracts	Cost of products sold	$	2.3		$	–	$	.5
Foreign exchange contracts	Marketing, general and administrative expense		(35.9	)		17.8		(13.0	)

		$	(33.6	)	$	17.8	$	(12.5	)

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 affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings

Gains (losses) recognized in "Accumulated other comprehensive loss" (effective portion) on derivatives related to cash flow hedge contracts were as follows:

(In millions)	2013			2012			2011


Foreign exchange contracts	$	1.1		$	(.9	)	$	.3
Commodity contracts		(.1	)		(.9	)		(3.3	)

	$	1.0		$	(1.8	)	$	(3.0	)

Amounts reclassified from "Accumulated other comprehensive loss" (effective portion) on derivatives related to cash flow hedge contracts were as follows:

(In millions)	Location of Gain (Loss) in Income	2013			2012			2011


Foreign exchange contracts	Cost of products sold	$	.6		$	(2.5	)	$	.9
Commodity contracts	Cost of products sold		(1.2	)		(2.8	)		(2.9	)
Interest rate contracts	Interest expense		(.1	)		(4.4	)		(4.2	)

		$	(.7	)	$	(9.7	)	$	(6.2	)

The amount of gain or loss recognized in income related to the ineffective portion of, and the amount excluded from, effectiveness testing for cash flow hedges and derivatives not designated as hedging instruments was not material in 2013, 2012, or 2011.

As of December 28, 2013, we expect a net gain of $.3 million to be reclassified from "Accumulated other comprehensive loss" to earnings within the next 12 months. See Note 1, "Summary of Significant Accounting Policies," for more information.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

PENSION AND OTHER POSTRETIREMENT BENEFITS

12 Months Ended

Dec. 28, 2013

PENSION AND OTHER POSTRETIREMENT BENEFITS

PENSION AND OTHER POSTRETIREMENT BENEFITS

NOTE 6. PENSION AND OTHER POSTRETIREMENT BENEFITS

Defined Benefit Plans

We sponsor a number of defined benefit plans, the 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. While we have not expressed any intent to terminate these plans, we may do so at any time, subject to applicable laws and regulations.

We are also obligated to pay unfunded termination indemnity benefits to certain employees outside of the U.S., which are subject to applicable agreements, local laws and regulations. We have not incurred significant costs related to termination indemnity arrangements, and therefore, no related costs are included in the disclosures below.

Effective December 31, 2011, benefits under our U.K. defined benefit plan were frozen. Benefits under this plan stopped accruing; however, benefits accrued through December 31, 2011 were preserved and will be paid out (for employees fully vested at the time of retirement or other qualified event) under the terms of the plan. We did not incur curtailment loss in connection with the freezing of benefits under this plan.

Employees who participated in our U.S. defined benefit plan, the Avery Dennison Pension Plan ("ADPP"), between December 1, 1986 and November 30, 1997, may also have a benefit under our Stock Holding and Retirement Enhancement Plan ("SHARE Plan"), a defined contribution plan. The ADPP is a floor offset plan that coordinates the amount of projected benefit obligation to an eligible participant with the SHARE Plan. The total benefit payable to an eligible participant equals the greater of the value of the participant's benefit from the ADPP or the value of the participant's SHARE Plan account. Lower than expected asset returns on the participant balances in the SHARE Plan may increase the projected benefit obligation under the ADPP. In the fourth quarter of 2013, we amended the SHARE Plan to require participants to make an early election of whether they want to (a) receive their assets in the SHARE Plan as a distribution, in which case their retirement benefit under the ADPP would be offset by the annuity equivalent of these assets, or (b) transfer their SHARE Plan assets to the ADPP and receive the full ADPP retirement benefit in annuity form, rather than wait to make such election upon termination of employment. The amendment resulted in an estimated actuarial loss of $21 million to the ADPP, which is subject to future amortization. This estimate will be adjusted by the end of 2014 to reflect the actual elections of participants.

Plan Assets

During 2012, we transitioned the investment management of the ADPP assets to a liability driven investment (LDI) strategy. Under an LDI strategy, the assets are invested in a diversified portfolio that is split into two sub-portfolios: a growth portfolio and a liability hedging portfolio. The growth portfolio consists primarily of equity and high-yield fixed income securities. The liability hedging portfolio consists primarily of investment grade fixed income securities and cash, and is intended, over time, to more closely match the liabilities of the plan. The investment objective of the portfolio is to improve the funded status of the plan; as funded status reaches certain trigger points, the portfolio moves to a more conservative asset allocation by increasing the allocation to the liability hedging portfolio. The current allocation is 51% in the growth portfolio and 49% in the liability hedging portfolio, subject to periodic fluctuations due to market movements. The plan assets are diversified across asset classes, striving to balance risk and return within the limits of prudent risk-taking and Section 404 of the Employee Retirement Income Security Act of 1974, as amended. Because many of the pension liabilities are long-term, the investment horizon is also long-term, but the investment plan must also ensure adequate near-term liquidity to fund benefit payments.

Assets of our international plans are invested in accordance with local accepted practices and primarily include equity securities, fixed income securities, insurance contracts and cash. Asset allocations and investments vary by country and plan. Our target plan asset investment allocation for our international plans combined is 37% in equity securities, 48% in fixed income securities and cash, and 15% in insurance contracts and other investments, subject to periodic fluctuations in these respective asset classes.

Fair Value Measurements

The following is a description of the valuation methodologies used for assets measured at fair value:

Cash is valued at nominal value. Money market funds are valued at net asset value ("NAV"). Mutual funds are valued at fair value as determined by quoted market prices, based upon the NAV of shares held by the plans at year-end. Pooled funds, which include real estate pooled funds and multi-asset common trust funds, are comprised of shares or units in funds that are not publicly traded and are valued at net unit value, as determined by the fund's trustees based on the underlying securities in the trust. Equities are valued at the closing price reported on the active market on which the individual securities are traded. Real estate investment trusts are valued based on quoted prices in active markets. Debt securities consist primarily of treasury securities and corporate bonds, which are valued using bid prices; observable market inputs to determine these prices include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids and offers. Insurance contracts are valued at book value, which approximates fair value and is calculated using the prior year balance plus or minus investment returns and changes in cash flows. Pooled funds – alternative investments are investments in a fund of hedge funds and are valued monthly on a one-month lag. We assess information available to us to determine whether there are any material changes to values at the reporting date. As of the end of fiscal 2013, our investment in pooled funds – alternative investments was subject to a lock up period which ends in 2014, after which shares may be redeemed quarterly upon 65 days' notice.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe the valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The following table sets forth, by level within the fair value hierarchy, U.S. plan assets (all in the ADPP) at fair value as of year-end 2013:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Cash	$	15.8	$	15.8	$	–	$	–
Liability hedging portfolio
Pooled funds – Corporate debt/agencies		332.7		–		332.7		–
Pooled funds – U.S. bonds, other fixed income		.4		–		.4		–

Total liability hedging portfolio		333.1		–		333.1		–

Growth portfolio (1)
Pooled funds – Global equities		60.0		–		60.0		–
Pooled funds – Global real estate investment trusts		45.8		–		45.8		–
Pooled funds – High yield bonds		65.2		–		65.2		–
Pooled funds – International		86.6		–		86.6		–
Pooled funds – U.S. equities		89.5		–		89.5		–
Pooled funds – Alternative investments		51.2		–		–		51.2

Total growth portfolio		398.3		–		347.1		51.2

Total U.S. plan assets at fair value	$	747.2	$	15.8	$	680.2	$	51.2

Other assets (2)		.2

Total U.S. plan assets	$	747.4

(1): "Pooled funds – International" excludes U.S. equity securities; "Pooled funds – Global equities" includes U.S. equity securities.
(2): Included accrued recoverable taxes at year-end 2013.

The following table presents a reconciliation of Level 3 for U.S. plan assets held during the year ended December 28, 2013:

	Level 3 Assets

(In millions)	Pooled Funds – Alternative Investments

Balance at December 29, 2012	$	–
Net realized and unrealized gain		1.2
Purchases		50.0
Settlements		–
Impact of changes in foreign currency exchange rates		–

Balance at December 28, 2013	$	51.2

The following table sets forth, by level within the fair value hierarchy, international plan assets at fair value as of year-end 2013:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Cash	$	4.7	$	4.7	$	–	$	–
Fixed income securities
Mutual funds		.3		.3		–		–
Pooled funds – Emerging markets bonds		6.2		–		6.2		–
Pooled funds – European bonds		193.8		–		193.8		–
Pooled funds – U.K. bonds		56.6		–		56.6		–
Pooled funds – Global bonds		3.3		–		3.3		–
Pooled funds – High yield bonds		6.7		–		6.7		–

Total fixed income securities		266.9		.3		266.6		–

Equity securities
Pooled funds – Emerging markets		20.9		–		20.9		–
Pooled funds – U.K.		17.2		–		17.2		–
Pooled funds – Global		151.3		–		151.3		–
Pooled funds – Real estate investment trusts		28.8		–		28.8		–

Total equity securities		218.2		–		218.2		–

Other investments
Pooled funds – Commodities		9.5		–		9.5		–
Pooled funds – Real estate		7.7		–		7.7		–
Pooled funds – Other		31.7		–		31.7		–
Insurance contracts		27.4		–		–		27.4

Total other investments		76.3		–		48.9		27.4

Total international plan assets at fair value	$	566.1	$	5.0	$	533.7	$	27.4

Other assets		.5

Total international plan assets	$	566.6

The following table presents a reconciliation of Level 3 for international plan assets held during the year ended December 28, 2013:

	Level 3 Assets

(In millions)	Insurance Contracts

Balance at December 29, 2012	$	27.8
Net realized and unrealized gain		.8
Purchases		2.4
Settlements		(6.7	)
Transfers (1)		2.3
Impact of changes in foreign currency exchange rates		.8

Balance at December 28, 2013	$	27.4

(1): Includes transfers in Switzerland related to the OCP and DES divestitures.

The following table sets forth, by level within the fair value hierarchy, U.S. plan assets (all in the ADPP) at fair value as of year-end 2012:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Cash	$	8.0	$	8.0	$	–	$	–
Liability hedging portfolio
Pooled funds – Corporate debt/agencies		216.1		–		216.1		–

Total liability hedging portfolio		216.1		–		216.1		–

Growth portfolio (1)
Pooled funds – Global equities		65.2		–		65.2		–
Pooled funds – Global real estate investment trusts		43.3		–		43.3		–
Pooled funds – High yield bonds		63.7		–		63.7		–
Pooled funds – International		97.5		–		97.5		–
Pooled funds – U.S. equities		154.5		–		154.5		–

Total growth portfolio		424.2		–		424.2		–

Total U.S. plan assets at fair value	$	648.3	$	8.0	$	640.3	$	–

Other assets (2)		.2

Total U.S. plan assets	$	648.5

(1): "Pooled funds – International" excludes U.S. equity securities; "Pooled funds – Global equities" includes U.S. equity securities.
(2): Included accrued recoverable taxes at year-end 2012.

The following table sets forth, by level within the fair value hierarchy, international plan assets at fair value as of year-end 2012:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Cash	$	6.2	$	6.2	$	–	$	–
Fixed income securities
Mutual funds		.3		.3		–		–
Pooled funds – European bonds		239.0		–		239.0		–
Pooled funds – Global bonds		9.0		–		9.0		–

Total fixed income securities		248.3		.3		248.0		–

Equity securities
Pooled funds – Asia Pacific region		12.7		–		12.7		–
Pooled funds – Emerging markets		18.5		–		18.5		–
Pooled funds – European region		46.3		–		46.3		–
Pooled funds – Global		81.5		–		81.5		–
Pooled funds – Real estate investment trusts		28.9		–		28.9		–
Pooled funds – U.S.		10.6		–		10.6		–

Total equity securities		198.5		–		198.5		–

Other investments
Pooled funds – Other		33.8		–		33.8		–
Insurance contracts		27.8		–		–		27.8

Total other investments		61.6		–		33.8		27.8

Total international plan assets at fair value	$	514.6	$	6.5	$	480.3	$	27.8

Other assets		.4

Total international plan assets	$	515.0

The following table presents a reconciliation of Level 3 for international plan assets held during the year ended December 29, 2012:

	Level 3 Assets

(In millions)	Insurance Contracts

Balance at December 31, 2011	$	26.5
Net realized and unrealized gain		.5
Purchases		2.0
Settlements		(1.7	)
Impact of changes in foreign currency exchange rates		.5

Balance at December 29, 2012	$	27.8

Postretirement Health Benefits

We provide postretirement health benefits to certain U.S. retired employees up to the age of 65 under a cost-sharing arrangement, and provide supplemental Medicare benefits to certain U.S. retirees over the age of 65. Our policy is to fund the cost of the postretirement benefits from operating cash flows. While we have not expressed any intent to terminate postretirement health benefits, we may do so at any time, subject to applicable laws and regulations.

In November 2011, we made certain changes to our U.S. postretirement health benefit plan. As a result of these changes, we will no longer subsidize retiree medical premiums for eligible participants who retired after December 31, 2013. In addition, beginning January 1, 2012, retiree medical premiums for eligible participants who retired on or after January 1, 2007 were based on the claims expense of the retiree group, resulting in a higher premium rate for retirees and lower claims expense for us.

Plan Assumptions

Discount Rate

In consultation with our actuaries, we annually review and determine the discount rates to be used in connection with our postretirement obligations. The assumed discount rate for each pension plan reflects market rates for high quality corporate bonds currently available. In the U.S., our discount rate is determined by evaluating yield curves consisting of large populations of high quality corporate bonds. The projected pension benefit payment streams are then matched with the bond portfolios to determine a rate that reflects the liability duration unique to our plans.

Long-term Return on Assets

We determine the long-term rate of return assumption for plan assets by reviewing the historical and expected returns of both the equity and fixed income markets, taking into account our asset allocation, the correlation between our asset classes, and the mix of active and passive investments. Additionally, current market conditions, including interest rates, are evaluated and market data is reviewed for reasonability and appropriateness.

Healthcare Cost Trend Rate

Our practice is to fund the cost of postretirement benefits from operating cash flows. For measurement purposes, a 7% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2014. This rate is expected to decrease to approximately 5% by 2018.

A one-percentage-point change in assumed health care cost trend rates would have the following effects:

(In millions)	One-percentage-point Increase		One-percentage-point Decrease


Effect on total of service and interest cost components	$	.01	$	(.01	)
Effect on postretirement benefit obligations		.3		(.3	)

Plan Balance Sheet Reconciliations

The following table provides a reconciliation of benefit obligations, plan assets, funded status of the plans and accumulated other comprehensive loss, for our defined benefit plans:

Plan Benefit Obligations

	Pension Benefits												U.S. Postretirement Health Benefits

	2013						2012						2013			2012
(In millions)	U.S.			Int'l			U.S.			Int'l

Change in projected benefit obligations
Projected benefit obligations at beginning of year	$	963.7		$	597.6		$	835.8		$	519.5		$	12.0		$	12.4
Service cost		.4			13.0			.3			9.0			–			–
Interest cost		39.7			23.3			40.3			24.5			.3			.4
Participant contribution		–			4.1			–			4.1			1.2			1.2
Amendments (1)		19.9			–			–			–			–			–
Actuarial (gain) loss (2)		(59.8	)		8.5			131.5			50.5			(.5	)		1.7
Plan transfer (3)		5.7			7.1			2.0			.1			–			–
Benefits paid		(45.4	)		(21.2	)		(46.2	)		(22.3	)		(3.5	)		(3.7	)
Curtailments		9.5			(1.7	)		–			–			(.4	)		–
Settlements		–			(6.0	)		–			–			–			–
Foreign currency translation		–			18.1			–			12.2			–			–

Projected benefit obligations at end of year	$	933.7		$	642.8		$	963.7		$	597.6		$	9.1		$	12.0

Accumulated benefit obligations at end of year	$	933.7		$	601.7		$	961.4		$	559.0

(1): Amendments to the U.S. pension plan related to the SHARE plan.
(2): Actuarial gain/loss in 2013 included an out-of-period adjustment of $15 million recorded in the fourth quarter of 2013 to properly state the balance sheet pension liability by increasing the projected benefit obligation as a result of a change from the historical method of projecting the SHARE Plan asset values. The corresponding adjustment affected other comprehensive income, with no impact to net income in 2013, and is subject to future amortization. The impact of this out-of-period adjustment was not considered material to the current or any previous financial statements.
(3): Plan transfer for the U.S. represented a transfer from the Avery Dennison Corporation Employee Savings Plan. Plan transfers for the international plans include transfers in Switzerland and Germany related to the OCP and DES divestitures.

Plan Assets

	Pension Benefits												U.S. Postretirement Health Benefits

	2013						2012						2013			2012
(In millions)	U.S.			Int'l			U.S.			Int'l

Change in plan assets
Plan assets at beginning of year	$	648.5		$	515.0		$	551.2		$	441.3		$	–		$	–
Actual return on plan assets		61.8			26.6			83.9			62.7			–			–
Plan transfer (1)		5.7			2.3			2.0			–			–			–
Employer contributions		76.8			28.9			57.6			19.4			2.3			2.5
Participant contributions		–			4.1			–			4.1			1.2			1.2
Benefits paid		(45.4	)		(21.2	)		(46.2	)		(22.3	)		(3.5	)		(3.7	)
Settlements		–			(6.0	)		–			–			–			–
Foreign currency translation		–			16.9			–			9.8			–			–

Plan assets at end of year	$	747.4		$	566.6		$	648.5		$	515.0		$	–		$	–

(1): Plan transfer for the U.S. represented a transfer from our savings plan. Plan transfers for the international plans include transfers in Switzerland related to the OCP and DES divestitures.

Funded Status

	Pension Benefits												U.S. Postretirement Health Benefits

	2013						2012						2013			2012
(In millions)	U.S.			Int'l			U.S.			Int'l

Funded status of the plans
Other assets	$	–		$	35.4		$	–		$	38.3		$	–		$	–
Other accrued liabilities		(3.6	)		(2.7	)		(3.9	)		(2.1	)		(2.2	)		(2.7	)
Long-term retirement benefits and other liabilities		(182.7	)		(108.9	)		(311.3	)		(118.9	)		(6.9	)		(9.3	)

Plan assets less than benefit obligations	$	(186.3	)	$	(76.2	)	$	(315.2	)	$	(82.7	)	$	(9.1	)	$	(12.0	)

	Pension Benefits																		U.S. Postretirement Health Benefits

	2013						2012						2011						2013			2012			2011
	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Weighted-average assumptions used for determining year-end obligations
Discount rate		4.85	%		3.88	%		4.00	%		3.94	%		4.75	%		4.80	%		3.45	%		2.85	%		3.75	%
Rate of increase in future compensation levels		–			2.24			–			2.24			–			2.79			–			–			–

The amount in non-current pension assets represents the net assets of our overfunded plans, which consist of a few international plans. The amounts in current and non-current pension liabilities represent the net obligations of our underfunded plans, which consist of all U.S. and several international plans.

For U.S. and international plans combined, the projected benefit obligations and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets were $1.25 billion and $953.7 million, respectively, at year-end 2013 and $1.27 billion and $829.2 million, respectively, at year-end 2012.

For U.S. and international plans combined, the accumulated benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were $1.22 billion and $938.6 million, respectively, at year-end 2013 and $1.24 billion and $816.5 million, respectively, at year-end 2012.

Accumulated Other Comprehensive Loss

The following table sets forth the pretax amounts, including that of discontinued operations, recognized in "Accumulated other comprehensive loss" in the Consolidated Balance Sheets:

	Pension Benefits								U.S. Postretirement Health Benefits

	2013				2012				2013			2012
(In millions)	U.S.		Int'l		U.S.		Int'l

Net actuarial loss	$	466.9	$	129.5	$	558.8	$	131.4	$	26.6		$	29.9
Prior service cost (credit)		21.0		2.5		1.5		2.9		(26.2	)		(43.3	)
Net transition obligation		–		.5		–		.4		–			–

Net amount recognized in accumulated other comprehensive loss (income)	$	487.9	$	132.5	$	560.3	$	134.7	$	.4		$	(13.4	)

The following table sets forth the pretax amounts, including that of discontinued operations, recognized in "Other comprehensive loss (income)":

	Pension Benefits																		U.S. Postretirement Health Benefits

	2013						2012						2011						2013			2012		2011
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Net actuarial (gain) loss	$	(73.4	)	$	6.1		$	93.5		$	16.4		$	133.6		$	18.1		$	(.9	)	$	1.7	$	7.0
Prior service cost (credit)		19.9			–			–			–			–			–			–			–		(34.1	)
Amortization of net actuarial loss and prior service cost (credit)		(18.9	)		(8.3	)		(15.3	)		(3.3	)		(8.9	)		(3.8	)		14.7			2.1		.6

Net amount recognized in other comprehensive (income) loss	$	(72.4	)	$	(2.2	)	$	78.2		$	13.1		$	124.7		$	14.3		$	13.8		$	3.8	$	(26.5	)

Plan Income Statement Reconciliations

The following table sets forth the components of net periodic benefit cost, which are recorded in income from continuing operations, for our defined benefit plans:

	Pension Benefits																		U.S. Postretirement Health Benefits

	2013						2012						2011						2013			2012			2011
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Service cost	$	.4		$	13.0		$	.3		$	9.1		$	.3		$	10.5		$	–		$	–		$	1.3
Interest cost		39.7			23.3			40.3			24.5			40.2			26.3			.3			.5			1.7
Expected return on plan assets		(48.1	)		(22.6	)		(45.9	)		(22.1	)		(45.7	)		(24.9	)		–			–			–
Recognized actuarial loss		17.7			6.3			14.3			3.1			8.5			4.0			2.5			2.7			1.9
Amortization of prior service cost (credit)		.3			.5			.4			.4			.4			.4			(4.1	)		(4.8	)		(2.5	)
Amortization of transition asset		–			(.1	)		–			(.5	)		–			(.5	)		–			–			–
Recognized gain on curtailment (1)		–			(1.5	)		–			–			–			(.2	)		–			–			–
Recognized loss (gain) on settlement (2)		–			.5			.6			–			–			(.1	)		–			–			–

Net periodic benefit cost (credit)	$	10.0		$	19.4		$	10.0		$	14.5		$	3.7		$	15.5		$	(1.3	)	$	(1.6	)	$	2.4

(1): Recognized gain on curtailment in 2013 related to a plan in Taiwan and was recorded in "Other expense, net" in the Consolidated Statements of Income.
(2): Represented settlement events in the U.S. in 2012.

In 2013, in connection with the sale of our OCP and DES businesses, we recognized a curtailment gain of $13.1 million associated with our postretirement health and welfare benefit plans, partially offset by curtailment and settlement losses of $10.4 million associated with our pension plans. The net gain of $2.7 million was recorded in "(Loss) income from discontinued operations, net of tax" in the Consolidated Statements of Income. Refer to Note 2, "Discontinued Operations, Exit/Sale of Product Lines, Sale of Assets and Assets Held for Sale," for more information on the sale.

The following table sets forth the weighted-average assumptions used for determining net periodic cost:

	Pension Benefits																		U.S. Postretirement Health Benefits

	2013						2012						2011						2013			2012			2011
	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Discount rate		4.00	%		3.94	%		4.75	%		4.80	%		5.50	%		5.24	%		2.85	%		3.75	%		5.25	%
Expected long-term rate of return on plan assets		8.00			4.78			8.00			4.95			8.00			5.48			–			–			–
Rate of increase in future compensation levels		–			2.24			–			2.79			–			2.95			–			–			–

Plan Contributions

We make contributions to our defined benefit plans sufficient to meet the minimum funding requirements of applicable laws and regulations, plus additional amounts, if any, we determine to be appropriate. In 2014, we expect to contribute approximately $4 million to our U.S. pension plans. We also expect to contribute approximately $17 million to our international pension plans, bringing our total expected contribution to our U.S. and international pension plans to approximately $21 million.

We also expect to contribute approximately $2 million to our postretirement benefit plan in 2014.

Future Benefit Payments

Anticipated future benefit payments, which reflect expected service periods for eligible participants, are as follows:

	Pension Benefits				U.S. Postretirement Health Benefits


(In millions)	U.S.		Int'l

2014	$	48.4	$	20.7	$	2.3
2015		49.6		21.0		1.7
2016		51.0		22.6		1.1
2017		53.2		22.9		.9
2018		70.1		23.8		.6
2019 – 2023		289.9		138.7		2.0

Estimated Amortization Amounts in Accumulated Other Comprehensive Loss

Our estimates of fiscal year 2014 amortization of amounts included in "Accumulated other comprehensive loss" are as follows:

	Pension Benefits				U.S. Postretirement Health Benefits


(In millions)	U.S.		Int'l

Net actuarial loss	$	15.7	$	5.3	$	2.7
Prior service cost (credit)		1.2		.4		(3.3	)
Net transition obligation		–		.1		–

Net amount to be recognized	$	16.9	$	5.8	$	(.6	)

Defined Contribution Plans

We sponsor various defined contribution plans worldwide, with the largest plan being the Avery Dennison Corporation Employee Savings Plan ("Savings Plan"), a 401(k) plan available to our U.S. employees. Employees hired after December 31, 2008, who were no longer eligible to participate in our defined benefit pension plans and early retiree medical plan, received an enhanced employer matching contribution in the Savings Plan through December 31, 2010. Effective January 1, 2011, we increased and made uniform our matching contribution for all participants in the Savings Plan in connection with the freezing of benefits under the ADPP and Benefit Restoration Plan effective December 31, 2010.

We recognized expense from continuing operations of $21 million, $19.8 million, and $19.3 million in 2013, 2012, and 2011, respectively, related to our employer contributions and employer match of participant contributions to the Savings Plan.

Other Retirement Plans

We have deferred compensation plans which permit eligible employees and directors to defer a portion of their compensation. The compensation voluntarily deferred by the participant, together with certain employer contributions, earn specified and variable rates of return. As of year-end 2013 and 2012, we had accrued $128.6 million and $128.3 million, respectively, for our obligations under these plans. These obligations are funded by corporate-owned life insurance contracts and standby letters of credit. As of year-end 2013 and 2012, these obligations were secured by standby letters of credit of $3 million and $16 million, respectively. Proceeds from the insurance policies are payable to us upon the death of covered participants. The cash surrender value of these policies, net of outstanding loans, included in "Other assets" in the Consolidated Balance Sheets, was $204.6 million and $187.4 million at year-end 2013 and 2012, respectively.

Our deferred compensation expense (gain) from continuing operations was $5.9 million, $7.1 million, and $(4.1) million for 2013, 2012, and 2011, respectively. A portion of the interest on certain of our contributions may be forfeited by participants if their employment terminates before age 55 other than by reason of death or disability.

We maintain a Directors Deferred Equity Compensation Plan, which allows our non-employee directors to elect to receive their cash compensation in deferred stock units ("DSUs") issued under our stock option and incentive plan. Dividend equivalents, representing the value of dividends per share paid on shares of our common stock and calculated with reference to the number of DSUs held as of a quarterly dividend record date, are credited in the form of additional DSUs. A director's DSUs are converted into shares of our common stock upon his or her resignation or retirement. Approximately .1 million DSUs were outstanding as of year-end 2013 and 2012, with an aggregate value of $5.5 million and $3.1 million, respectively.

COMMITMENTS

12 Months Ended

Dec. 28, 2013

COMMITMENTS

COMMITMENTS

NOTE 7. COMMITMENTS

Minimum annual rental commitments on operating leases having initial or remaining non-cancelable lease terms of one year or more are as follows:

Year	(In millions)


2014	$	52.2
2015		41.9
2016		30.2
2017		17.2
2018		12.2
2019 and thereafter		53.1

Total minimum lease payments	$	206.8

Rent expense for operating leases from continuing operations, which includes maintenance and insurance costs and property taxes, was approximately $70 million in 2013, $75 million in 2012, and $84 million in 2011. Operating leases relate primarily to office and warehouse space, and equipment for electronic data processing and transportation. The terms of these leases do not impose significant restrictions or unusual obligations, except as noted below.

On September 9, 2005, we completed a ten-year lease financing for a commercial facility located in Mentor, Ohio, used primarily for the North American headquarters and research center of our Materials group. The facility consists generally of land, buildings, and equipment. We lease the facility under an operating lease arrangement, which contains a residual value guarantee of $31.5 million, as well as certain obligations with respect to the refinancing of the lessor's debt of $11.5 million (collectively, the "Guarantee"). At the end of the lease term, we have the option to purchase or remarket the facility at an amount equivalent to the value of the Guarantee. If our estimated fair value (or estimated selling price) of the facility falls below the Guarantee, we would be required to pay the lessor a shortfall, which is an amount equivalent to the Guarantee less our estimated fair value. During the second quarter of 2011, we estimated a shortfall with respect to the Guarantee and began to recognize the shortfall on a straight-line basis over the remaining lease term. The carrying amount of the shortfall was approximately $19 million at December 28, 2013, which was included in "Long-term retirement benefits and other liabilities" in the Consolidated Balance Sheets.

Refer to Note 4, "Debt and Capital Leases," for capital lease obligations.

CONTINGENCIES

12 Months Ended

Dec. 28, 2013

CONTINGENCIES

CONTINGENCIES

NOTE 8. 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. We have accrued liabilities for matters where it is probable that a loss will be incurred and the amount of loss can be reasonably estimated. 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 becomes available that allows us to reasonably estimate the range of potential expenses in an amount higher or lower than what we have accrued, we 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 will 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

As of December 28, 2013, we have been designated by the U.S. Environmental Protection Agency ("EPA") and/or other responsible state agencies as a potentially responsible party ("PRP") at ten waste disposal or waste recycling sites, which are the subject of separate investigations or proceedings concerning alleged soil and/or groundwater contamination and for which no settlement of our liability has been agreed. We are participating with other PRPs at these sites, and anticipate that our share of remediation costs will be determined pursuant to agreements entered into in the normal course of negotiations with the EPA or other governmental authorities.

We have accrued liabilities for sites where it is probable that a loss will be incurred and the cost or amount of loss can be reasonably estimated. These estimates could change as a result of changes in planned remedial actions, remediation technologies, site conditions, and 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 becomes available that allows us to reasonably estimate the range of potential expenses in an amount higher or lower than what we have accrued, we 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 will be addressed as they arise; until then, a range of expenses for such remediation cannot be determined.

The activity in 2013 and 2012 related to environmental liabilities was as follows:

(In millions)	2013			2012


Balance at beginning of year	$	32.5		$	40.6
Charges (reversals), net		4.6			(3.1	)
Payments		(7.5	)		(5.0	)

Balance at end of year	$	29.6		$	32.5

As of December 28, 2013, approximately $10 million of the balance was classified as short-term and was included in "Other Accrued Liabilities" in the Consolidated Balance Sheets.

Guarantees

We participate in receivable financing programs with several financial institutions whereby advances may be requested from these financial institutions. We guarantee the collection of the related receivables. At December 28, 2013, the outstanding amount guaranteed was approximately $6 million.

Unused letters of credit (primarily standby) outstanding with various financial institutions were approximately $89 million at December 28, 2013.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

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+ Details

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Dec. 28, 2013
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	NOTE 9. SHAREHOLDERS' EQUITY Common Stock and Share Repurchase Program Our Certificate of Incorporation authorizes five million shares of $1 par value preferred stock (none outstanding), with respect to which our Board of Directors may fix the series and terms of issuance, and 400 million shares of $1 par value voting common stock. From time to time, our Board of Directors authorizes us to repurchase shares of our outstanding common stock. Repurchased shares may be reissued under our stock option and incentive plan or used for other corporate purposes. In 2013, we repurchased approximately 6.6 million shares of our common stock at an aggregate cost of $283.5 million. On July 25, 2013, our Board of Directors authorized the repurchase of additional shares of our common stock in the total aggregate amount of up to $400 million (exclusive of any fees, commissions or other expenses related to such purchases). This authorization will remain in effect until shares totaling $400 million have been repurchased. On July 26, 2012, our Board of Directors authorized the repurchase of additional shares of our common stock in the total aggregate amount of up to $400 million (exclusive of any fees, commissions or other expenses related to such purchases). This authorization will remain in effect until shares totaling $400 million have been repurchased. As of December 28, 2013, shares of our common stock in the aggregate amount of approximately $455 million remained authorized for repurchase under these Board authorizations.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

LONG-TERM INCENTIVE COMPENSATION

12 Months Ended

Dec. 28, 2013

LONG-TERM INCENTIVE COMPENSATION

LONG-TERM INCENTIVE COMPENSATION

NOTE 10. LONG-TERM INCENTIVE COMPENSATION

Equity Awards

Stock-Based Compensation

We maintain various stock option and incentive plans and grant our annual stock-based compensation awards to eligible employees in February and non-employee directors in May. Prior to 2013, these awards were granted to non-employee directors in April. Certain awards granted to retirement-eligible employees vest in full upon retirement; awards to these employees are accounted for as fully vested on the date of grant.

Stock-based compensation expense from continuing operations and the total recognized tax benefit related to this expense for the years 2013, 2012, and 2011 were as follows:

(In millions)	2013		2012		2011


Stock-based compensation expense	$	32.3	$	35.8	$	36.4
Tax benefit		10.8		12.5		12.5

This expense was included in "Marketing, general and administrative expense" in the Consolidated Statements of Income.

As of December 28, 2013, we had approximately $57 million of unrecognized compensation expense from continuing operations related to unvested stock options, PUs, MSUs, and RSUs. The unrecognized compensation expense is expected to be recognized over the remaining weighted-average requisite service period of approximately two years for each of these awards.

Stock Options

Stock options granted to non-employee directors and employees may be granted at no less than 100% of the fair market value of our common stock on the date of the grant. Options generally vest ratably over a three-year period for non-employee directors and over a four-year period for employees. Options expire ten years from the date of grant.

The fair value of our stock option awards is estimated as of the date of grant using the Black-Scholes option-pricing model. This model requires input assumptions for our expected dividend yield, expected stock price volatility, risk-free interest rate and the expected option term. The following assumptions are used in estimating the fair value of granted stock options:

Risk-free interest rate is based on the 52-week average of the Treasury-Bond rate that has a term corresponding to the expected option term.

Expected stock price volatility represents an average of the implied and historical volatility.

Expected dividend yield is based on the current annual dividend divided by the 12-month average of our monthly stock price prior to grant.

Expected option term is determined based on historical experience under our stock option and incentive plans.

The weighted-average fair value per share of options granted during 2013 was $6.97, compared to $7.08 for 2012, and $9.45 for 2011.

The underlying weighted-average assumptions used were as follows:




Risk-free interest rate	1.04	%	1.82	%	2.22	%
Expected stock price volatility	27.17	%	32.81	%	30.70	%
Expected dividend yield	3.40	%	3.30	%	2.76	%
Expected option term	6.2 years		6.0 years		6.2 years

The following table sets forth stock option information related to our stock option and incentive plans during 2013:

	Number of options (in thousands)		Weighted-average exercise price		Weighted-average remaining contractual life (in years)	Aggregate intrinsic value (in millions)


Outstanding at December 29, 2012	11,376.9		$	43.93	5.59	$	28.0
Granted	.8			40.33
Exercised	(1,668.1	)		27.01
Forfeited or expired	(1,818.4	)		51.19

Outstanding at December 28, 2013	7,891.2		$	45.85	4.27	$	69.0
Options vested and expected to vest at December 28, 2013	7,608.9			46.30	4.15		64.2
Options exercisable at December 28, 2013	6,230.4		$	49.08	3.41	$	40.8

The total intrinsic value of stock options exercised was $26.1 million in 2013, $3.8 million in 2012, and $2.9 million in 2011. Cash received by us from the exercise of these stock options was approximately $44.8 million in 2013, $10.2 million in 2012, and $3.9 million in 2011. The tax benefit associated with these exercised options was $8.5 million in 2013, $1.3 million in 2012, and $.9 million in 2011. The intrinsic value of the stock options is based on the amount by which the market value of the underlying stock exceeds the exercise price of the option.

Performance Units ("PUs")

PUs are granted under our stock option and incentive plan to certain of our eligible employees. PUs are payable in shares of our common stock at the end of a three-year cliff vesting period provided that certain performance objectives are achieved at the end of the period. Over the performance period, the estimated number of shares of our common stock issuable upon vesting is adjusted upward or downward based upon the probability of achievement of performance objectives. The actual number of shares issued can range from 0% to 200% of the target shares at the time of grant.

We exceeded the target level for certain performance objectives established for the 2010-2012 performance period, which resulted in an overall payout of 117% of target for the PUs granted in 2010. These awards were paid in the first quarter of 2013.

The following table summarizes information related to awarded PUs:

			Weighted- average grant-date fair value


Unvested at December 29, 2012	1,001.2		$	35.20
Granted at target	208.5			52.93
Granted for above-target performance (1)	57.5			30.87
Vested	(328.8	)		29.71
Forfeited/cancelled	(143.2	)		37.78

Unvested at December 28, 2013	795.2		$	41.32

(1): Reflects awards granted in excess of target as a result of our achieving above-target performance for the 2010 - 2012 performance period.

Market-Leveraged Stock Units ("MSUs")

In 2013, in lieu of stock options and RSUs, we began granting performance-based MSUs, which vest ratably over a four-year period. Although dividend equivalents accrue on MSUs during the vesting period, they are earned and paid only at vesting. The number of MSU shares earned is based upon our absolute total shareholder return at each vesting date and can range from 0% to 200% of the target amount of MSUs subject to vesting. Each of the four vesting periods represents one tranche of MSUs and the fair value of each of these four tranches was determined using the Monte-Carlo simulation model, which utilizes multiple input variables, including expected volatility assumptions and other assumptions, to estimate the probability of achieving the performance objective established for the award.

The following table summarizes information related to awarded MSUs:

	Number of MSUs (in thousands)		Weighted- average grant-date fair value


Unvested at December 29, 2012	–		$	–
Granted at target	346.6			51.40
Vested	–			–
Forfeited/cancelled	(16.5	)		51.56

Unvested at December 28, 2013	330.1		$	51.40

Restricted Stock Units ("RSUs")

RSUs granted under our stock option and incentive plan usually vest ratably over a period of three years for non-employee directors and four years for employees provided that directorship or employment continues through the applicable vesting date. If the condition is not met, unvested RSUs are generally forfeited.

The following table summarizes information related to awarded RSUs:

	Number of RSUs (in thousands)		Weighted- average grant-date fair value


Unvested at December 29, 2012	1,352.2		$	29.68
Granted	59.9			38.72
Vested	(548.6	)		29.06
Forfeited/cancelled	(182.5	)		29.77

Unvested at December 28, 2013	681.0		$	31.06

Cash Awards

Long-Term Incentive Units

In 2012, we began granting long-term incentive units ("LTI units") under our long-term incentive unit plan to certain eligible employees. LTI Units are service-based awards that generally vest ratably over a four-year period. The settlement value equals the number of vested LTI units multiplied by the average of the high and low market prices of our common stock on the vesting date. The compensation expense related to these awards is amortized on a straight-line basis and the fair value is remeasured using the estimated percentage of units expected to be earned multiplied by the average of the high and low market prices of our common stock at each quarter-end.

In 2013, we also began granting cash-based awards in the form of performance and market-leveraged LTI Units to eligible employees. Performance LTI Units are payable in cash at the end of a three-year cliff vesting period provided that certain performance objectives are achieved at the end of the performance period. Market-leveraged LTI Units are payable in cash and vest ratably over a period of four years. The number of performance and market-leveraged LTI Units earned at vesting is adjusted upward or downward based upon the probability of achieving the performance objectives established for the respective award and the actual number of units issued can range from 0% to 200% of the target units subject to vesting. The performance and market-leveraged LTI Units are remeasured using the estimated percentage of units expected to be earned multiplied by the average of the high and low market prices of our common stock at each quarter-end over their respective performance periods. The compensation expense related to performance LTI Units is amortized on a straight-line basis over their respective performance period. The compensation expense related to market-leveraged LTI Units is amortized on a graded-vesting basis over their respective performance periods.

The compensation expense from continuing operations related to these units was $6.3 million and $1.9 million for the years ended December 28, 2013 and December 29, 2012, respectively. This expense was included in "Marketing, general and administrative expense" in the Consolidated Statements of Income. The total recognized tax benefit related to these units was $3.2 million and $.5 million for the years December 28, 2013 and December 29, 2012.

COST REDUCTION ACTIONS

12 Months Ended

Dec. 28, 2013

COST REDUCTION ACTIONS

COST REDUCTION ACTIONS

NOTE 11. COST REDUCTION ACTIONS

2012 Program

In 2013, we recorded $40.3 million in restructuring charges, net of reversals, related to the restructuring program we initiated in 2012 (the "2012 Program"), which consisted of severance and related costs for the reduction of approximately 1,400 positions, lease and other contract cancellation costs, and asset impairment charges.

In 2012, we recorded $56.4 million in restructuring charges, net of reversals, related to our 2012 Program, which consisted of severance and related costs for the reduction of approximately 1,060 positions, lease cancellation costs, and asset impairment charges.

No employees impacted by the 2012 Program remained employed with us as of December 28, 2013.

2011 Actions

In 2011, we recorded approximately $45 million in restructuring charges, net of reversals, including charges for discontinued operations, consisting of severance and related costs for the reduction of approximately 910 positions, asset impairment charges, and lease cancellation costs. No employees impacted by these actions remained employed with us as of December 29, 2012.

Accruals for severance and related costs and lease and other contract cancellation costs were included in "Other accrued liabilities" in the Consolidated Balance Sheets. For assets that were not disposed, impairments were based on the estimated market value of the assets.

During 2013, restructuring charges and payments were as follows:

(In millions)	Accrual at December 29, 2012		Charges (Reversals), net		Cash Payments			Non-cash Impairment			Foreign Currency Translation			Accrual at December 28, 2013


2012 Program
Severance and related costs	$	20.7	$	27.2	$	(41.0	)	$	–		$	(.3	)	$	6.6
Lease and other contract cancellation costs		.1		3.4		(3.3	)		–			–			.2
Asset impairment charges		–		9.7		–			(9.7	)		–			–
2011 Actions
Severance and related costs		.1		–		(.1	)		–			–			–

Total	$	20.9	$	40.3	$	(44.4	)	$	(9.7	)	$	(.3	)	$	6.8

During 2012, restructuring charges and payments, including those for discontinued operations, were as follows:

(In millions)	Accrual at December 31, 2011		Charges (Reversals), net			Cash Payments			Non-cash Impairment			Foreign Currency Translation		Accrual at December 29, 2012


2012 Program
Severance and related costs	$	–	$	50.7		$	(30.5	)	$	–		$	.5	$	20.7
Lease cancellation costs		–		.1			–			–			–		.1
Asset impairment charges		–		6.9			–			(6.9	)		–		–
2011 Actions
Severance and related costs		12.7		(1.1	)		(11.7	)		–			.2		.1
Lease cancellation costs		1.8		(.2	)		(1.6	)		–			–		–
Q3 2010 – Q42010 Actions
Severance and related costs		.2		–			(.2	)		–			–		–

Total	$	14.7	$	56.4		$	(44.0	)	$	(6.9	)	$	.7	$	20.9

The table below shows the total amount of costs incurred by reportable segment and other businesses in connection with these restructuring actions for the periods shown below. Restructuring costs in continuing operations were included in "Other expense, net" in the Consolidated Statements of Income.

(In millions)	2013		2012		2011


Restructuring costs by reportable segment and other businesses
Pressure-sensitive Materials	$	10.8	$	34.1	$	19.7
Retail Branding and Information Solutions		28.5		17.8		19.4
Other specialty converting businesses		.1		.9		–
Corporate		.9		3.0		4.8

Continuing operations		40.3		55.8		43.9

Discontinued operations		–		.6		1.3

	$	40.3	$	56.4	$	45.2

Subsequent to the end of the fiscal year 2013, in January 2014, we announced our intent to close an older manufacturing facility in the Netherlands and consolidate those operations with the operations of another existing facility in Germany. This restructuring action is anticipated to result in a reduction of approximately 110 positions from our Pressure-sensitive Materials segment.

TAXES BASED ON INCOME

12 Months Ended

Dec. 28, 2013

TAXES BASED ON INCOME

TAXES BASED ON INCOME

NOTE 12. TAXES BASED ON INCOME

Taxes based on income (loss) were as follows:

(In millions)	2013			2012			2011


Current:
U.S. federal tax	$	1.9		$	(18.7	)	$	(8.6	)
State taxes		.3			(2.4	)		(1.1	)
International taxes		107.3			101.2			78.4

		109.5			80.1			68.7

Deferred:
U.S. federal tax		(11.2	)		9.5			(6.8	)
State taxes		1.3			(9.3	)		(1.4	)
International taxes		19.2			(.3	)		11.0

		9.3			(.1	)		2.8

Provision for income taxes	$	118.8		$	80.0		$	71.5

The principal items accounting for the difference between taxes computed at the U.S. statutory rate and taxes recorded were as follows:

(In millions)	2013			2012			2011


Computed tax at 35% of income before taxes	$	127.1		$	83.1		$	74.5
Increase (decrease) in taxes resulting from:
State taxes, net of federal tax benefit		2.4			1.1			(2.4	)
Foreign earnings taxed at different rates (1)(2)		(14.7	)		11.8			2.3
Valuation allowance		(4.3	)		(23.6	)		7.0
Corporate owned life insurance		(6.9	)		(5.5	)		(5.1	)
U.S. federal research and development tax credits		(7.0	)		–			(4.6	)
Tax contingencies and audit settlements		23.1			9.4			2.9
Expiration of carryforward items		2.5			4.8			.4
Other items, net		(3.4	)		(1.1	)		(3.5	)

Provision for income taxes	$	118.8		$	80.0		$	71.5

(1): Included foreign earnings taxed in the U.S., net of credits, for all years.
(2): Included $12.1 million and $11.2 million of expense related to the accrual of U.S. taxes on certain foreign earnings for 2013 and 2012, respectively. For 2011, there was no such accrual.

Income (loss) from continuing operations before taxes from our U.S. and international operations was as follows:

(In millions)	2013			2012			2011


U.S.	$	(36.2	)	$	(125.7	)	$	(81.8	)
International		399.3			363.3			295.0

Income from continuing operations before taxes	$	363.1		$	237.6		$	213.2

The effective tax rate for continuing operations was 32.7%, 33.7%, and 33.5% for fiscal years 2013, 2012, and 2011, respectively. The 2013 effective tax rate for continuing operations reflected $11 million of benefit for adjustments to federal income tax, primarily due to the enactment of the American Taxpayer Relief Act of 2012 ("ATRA"), and $18.8 million of net expense on changes in certain tax reserves and valuation allowances. Additionally, the effective tax rate for 2013 reflected a benefit of $11.2 million from favorable tax rates on certain earnings from our operations in lower-tax jurisdictions throughout the world, offset by $12.1 million of expense related to the accrual of U.S. taxes on certain foreign earnings. The 2012 effective tax rate for continuing operations reflected $6.2 million of benefit from the release of a valuation allowance on certain state tax credits and $11.2 million of expense related to the accrual of U.S. taxes on certain foreign earnings. Additionally, the effective tax rate for 2012 was negatively impacted by approximately $5 million from the statutory expiration of federal research and development tax credits on December 31, 2011. The 2011 effective tax rate for continuing operations reflected $7 million of expense for increases in valuation allowances and $2.8 million of expense from the settlement of foreign tax audits.

On January 2, 2013, ATRA was enacted, retrospectively extending the federal research and development credit for amounts paid or incurred after December 31, 2011 and before January 1, 2014. The retroactive effects were recognized in the first quarter of 2013. ATRA also retroactively extended the controlled foreign corporation ("CFC") look-through rule that had expired on December 31, 2011. For periods in which the look-though rule is effective, certain dividends, interest, rents, and royalties received or accrued by a CFC of a U.S. multinational enterprise from a related CFC are excluded from U.S. federal income tax. The retroactive effect of the extension of the CFC look-through rule did not have a material impact on our effective tax rate or operating results after taking into consideration tax accruals related to our repatriation assertions. The extensions of the CFC look-through rule and the research and development credit expired on December 31, 2013.

Deferred income taxes have not been provided on approximately $2.1 billion of undistributed earnings of foreign subsidiaries as of December 28, 2013 since these amounts are intended to be indefinitely reinvested in foreign operations. It is not practicable to calculate the deferred taxes associated with these earnings because of the variability of multiple factors that would need to be assessed at the time of any assumed repatriation; however, foreign tax credits would likely be available to reduce federal income taxes in the event of distribution. In making this assertion, we evaluate, among other factors, the profitability of our U.S. and foreign operations and the need for cash within and outside the U.S., including cash requirements for capital improvements, acquisitions, market expansion, and stock repurchase programs.

Deferred income taxes reflect the temporary differences between the amounts at which assets and liabilities are recorded for financial reporting purposes and the amounts utilized for tax purposes. The primary components of the temporary differences that gave rise to our deferred tax assets and liabilities were as follows:

(In millions)	2013			2012


Accrued expenses not currently deductible	$	44.7		$	80.3
Net operating losses		306.2			323.8	(1)
Tax credit carryforwards		129.2			118.0
Capital loss carryforward		–			6.0
Postretirement and postemployment benefits		100.8			107.9
Pension costs		95.7			146.1
Inventory reserves		8.6			12.1
Other assets		6.2			2.7
Valuation allowance		(59.0	)		(69.3	) (1)

Total deferred tax assets (2)		632.4			727.6

Depreciation and amortization		(127.8	)		(166.7	)
Repatriation accrual		(52.9	)		(20.3	)
Foreign operating loss recapture		(136.5	)		(136.5	)
Other liabilities		(1.8	)		(3.1	) (1)

Total deferred tax liabilities (2)		(319.0	)		(326.6	)

Total net deferred tax assets	$	313.4		$	401.0

(1): The presentation for 2012 was revised to conform to the presentation shown for 2013. The revision was immaterial having no impact on total net deferred tax assets but resulted in a decrease of $33.4 million, $27.9 million, and $5.5 million in net operating losses, valuation allowance, and other liabilities, respectively.
(2): Reflect gross amounts before jurisdictional netting of deferred tax assets and liabilities.

A valuation allowance is recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. The valuation allowance at December 28, 2013 and December 29, 2012 was $59 million and $69.3 million, respectively. In 2013, we recognized $4.3 million as a tax benefit in continuing operations with the remaining $6 million primarily impacting discontinued operations.

Net operating loss carryforwards of foreign subsidiaries at December 28, 2013 and December 29, 2012 were $1.06 billion and $1.14 billion, respectively. If unused, foreign net operating losses of $42.8 million would expire between 2014 and 2017, and $77.5 million would expire after 2017. Net operating losses of $944.8 million can be carried forward indefinitely. Based on current projections, certain indefinite-lived foreign net operating losses may take approximately 50 years to be fully utilized. Tax credit carryforwards of both domestic and foreign subsidiaries at December 28, 2013 and December 29, 2012 totaled $129.2 million and $118 million, respectively. If unused, tax credit carryforwards of $3.4 million would expire between 2014 and 2016, $87.2 million would expire between 2017 and 2021, and $30.1 million would expire after 2021. Tax credit carryforwards of $8.5 million can be carried forward indefinitely.

With the expiration of our tax holiday in Bangladesh during 2013, tax holidays did not have a material effect on our 2013 results. We do not anticipate the expected expiration of our remaining tax holidays in Thailand and Vietnam between 2014 and 2016 to have a material effect on our effective tax rate, operating results, or financial condition.

Unrecognized Tax Benefits

As of December 28, 2013, our unrecognized tax benefits totaled $137.2 million, $96.7 million of which, if recognized, would reduce the annual effective income tax rate. As of December 29, 2012, our unrecognized tax benefits totaled $121.6 million, $82.8 million of which, if recognized, would reduce the annual effective income tax rate.

Where applicable, we recognize potential accrued interest and penalties related to unrecognized tax benefits from our global operations in income tax expense. We recognized expense of $2.7 million, $5.5 million, and $2.7 million in the Consolidated Statements of Income in 2013, 2012, and 2011, respectively. We have accrued $29.2 million and $29.1 million for interest and penalties, net of tax benefit, in the Consolidated Balance Sheets at December 28, 2013 and December 29, 2012, respectively.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is set forth below:

(In millions)	2013			2012


Balance at beginning of year	$	121.6		$	120.3
Additions based on tax positions related to the current year		20.1			15.7
Additions for tax positions of prior years		8.3			.6
Reductions for tax positions of prior years:
Changes in judgment		(4.0	)		(5.6	)
Settlements		(2.6	)		(2.3	)
Lapses and statute expirations		(6.2	)		(4.4	)
Changes due to translation of foreign currencies		–			(2.7	)

Balance at end of year	$	137.2		$	121.6

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 relevant risks, facts, and circumstances existing at that 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. As of the date the 2013 financial statements are being issued, we and our U.S. subsidiaries have completed the Internal Revenue Service's Compliance Assurance Process Program through 2012. We are subject to routine tax examinations in other jurisdictions. With a few exceptions, we are no longer subject to 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 $20 million, primarily as a result of closing tax years.

SEGMENT INFORMATION

12 Months Ended

Dec. 28, 2013

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 13. SEGMENT INFORMATION

The accounting policies of the segments are described in Note 1, "Summary of Significant Accounting Policies." Intersegment sales are recorded at or near market prices and are eliminated in determining consolidated sales. We evaluate performance based on income from operations before interest expense and taxes. General corporate expenses are also excluded from the computation of income from operations for the segments.

We do not disclose total assets by reportable segment since we do not produce and review such information internally. We do not disclose revenues from external customers for each product because it is impracticable to do so. As our reporting structure is not organized or reviewed internally by country, results by individual country are not provided.

(In millions)	2013			2012			2011


Net sales to unaffiliated customers
Pressure-sensitive Materials	$	4,455.0		$	4,257.6		$	4,261.0
Retail Branding and Information Solutions		1,611.1			1,535.0			1,510.1
Other specialty converting businesses		73.9			70.9			73.8

Net sales to unaffiliated customers	$	6,140.0		$	5,863.5		$	5,844.9

Intersegment sales
Pressure-sensitive Materials	$	64.6		$	60.9		$	59.5
Retail Branding and Information Solutions		2.4			3.8			3.3
Other specialty converting businesses		3.6			.8			.7

Intersegment sales	$	70.6		$	65.5		$	63.5

Income from continuing operations before taxes
Pressure-sensitive Materials	$	442.8		$	359.7		$	349.1
Retail Branding and Information Solutions		81.7			53.3			42.1
Other specialty converting businesses		(8.3	)		(16.2	)		(12.5	)
Corporate expense		(94.1	)		(86.3	)		(94.4	)
Interest expense		(59.0	)		(72.9	)		(71.1	)

Income from continuing operations before taxes	$	363.1		$	237.6		$	213.2

Capital expenditures
Pressure-sensitive Materials	$	81.1		$	64.8		$	71.2
Retail Branding and Information Solutions		42.4			24.7			24.2
Other specialty converting businesses		1.2			3.4			3.5

Capital expenditures	$	124.7		$	92.9		$	98.9

Depreciation and amortization expense
Pressure-sensitive Materials	$	113.5		$	112.8		$	119.1
Retail Branding and Information Solutions		86.7			93.9			96.5
Other specialty converting businesses		4.1			4.3			4.4

Depreciation and amortization expense	$	204.3		$	211.0		$	220.0

Other expense, net by reportable segment and other businesses
Pressure-sensitive Materials	$	10.8		$	33.5		$	20.1
Retail Branding and Information Solutions		20.0			24.8			17.8
Other specialty converting businesses		.1			4.8			–
Corporate		5.7			5.7			13.7

Other expense, net	$	36.6		$	68.8		$	51.6

Other expense, net by type
Restructuring costs:
Severance and related costs	$	27.2		$	49.3		$	35.0
Asset impairment charges and lease and other contract cancellation costs		13.1			6.5			8.9
Other items:
Charitable contribution to Avery Dennison Foundation		10.0			–			–
Indefinite-lived intangible asset impairment charge		–			7.0			–
Gain on sale of product line		–			(.6	)		–
Gain on sale of assets		(17.8	)		–			–
Loss from debt extinguishment		–			–			.7
Gain from curtailment of pension obligation		(1.6	)		–			–
Legal settlements		2.5			–			(1.2	)
Product line exits		–			3.9			–
Divestiture-related costs (1)		3.2			2.7			8.2

Other expense, net	$	36.6		$	68.8		$	51.6

(1): Represents only the portion allocated to continuing operations.

Revenues in our continuing operations by geographic area are set forth below. Revenues are attributed to geographic areas based on the location to which the product is shipped. Export sales from the United States to unaffiliated customers are not a material factor in our business.

(In millions)	2013		2012		2011


Net sales to unaffiliated customers
U.S.	$	1,537.6	$	1,528.3	$	1,473.0
Europe		1,958.4		1,851.1		1,994.8
Asia		1,823.5		1,627.6		1,526.9
Latin America		515.6		501.2		489.9
Other international		304.9		355.3		360.3

Net sales to unaffiliated customers	$	6,140.0	$	5,863.5	$	5,844.9

Property, plant and equipment, net, in our U.S. and international operations are set forth below.

(In millions)	2013		2012		2011


Property, plant and equipment, net
U.S.	$	279.6	$	340.2	$	370.5
International		642.9		675.3		708.9

Property, plant and equipment, net	$	922.5	$	1,015.5	$	1,079.4

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 10
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

QUARTERLY FINANCIAL INFORMATION (Unaudited)

12 Months Ended

Dec. 28, 2013

QUARTERLY FINANCIAL INFORMATION (Unaudited)

QUARTERLY FINANCIAL INFORMATION (Unaudited)

NOTE 14. QUARTERLY FINANCIAL INFORMATION (Unaudited)

(In millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter


2013
Net sales	$	1,498.9		$	1,552.3		$	1,504.9		$	1,583.9
Gross profit		401.7			417.5			402.2			416.3
Income from continuing operations		66.8			70.8			62.0			44.7
Loss from discontinued operations, net of tax		(9.0	)		(2.0	)		(15.5	)		(2.0	)
Net income		57.8			68.8			46.5			42.7
Net income (loss) per common share:
Continuing operations		.67			.71			.63			.46
Discontinued operations		(.09	)		(.02	)		(.16	)		(.02	)
Net income per common share		.58			.69			.47			.44
Net income (loss) per common share, assuming dilution:
Continuing operations		.66			.70			.62			.45
Discontinued operations		(.09	)		(.02	)		(.15	)		(.02	)
Net income per common share, assuming dilution		.57			.68			.47			.43

2012
Net sales	$	1,443.0		$	1,490.4		$	1,447.0		$	1,483.1
Gross profit		377.1			388.1			381.0			382.0
Income from continuing operations		44.6			49.1			35.9			28.0
(Loss) income from discontinued operations, net of tax		(.7	)		15.1			22.4			21.0
Net income		43.9			64.2			58.3			49.0
Net income per common share:
Continuing operations		.42			.47			.36			.28
Discontinued operations		–			.15			.22			.21
Net income per common share		.42			.62			.58			.49
Net income (loss) per common share, assuming dilution:
Continuing operations		.42			.47			.35			.28
Discontinued operations		(.01	)		.15			.22			.20
Net income per common share, assuming dilution		.41			.62			.57			.48

"Other expense, net" is presented by type for each quarter below:

(In millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter


2013
Restructuring costs:
Severance and related costs	$	6.8		$	5.4		$	8.7		$	6.3
Asset impairment, lease and other contract cancellation charges		1.3			2.4			8.0			1.4
Other items:
Charitable contribution to Avery Dennison Foundation		–			–			10.0			–
Gain on sale of assets		(1.3	)		(10.9	)		(.5	)		(5.1	)
Gain from curtailment of pension obligation		–			–			(1.6	)		–
Legal settlement		–			2.5			–			–
Divestiture-related costs (1)		.7			.3			1.1			1.1

Other expense, net	$	7.5		$	(.3	)	$	25.7		$	3.7

2012
Restructuring costs:
Severance and related costs	$	5.7		$	9.8		$	17.6		$	16.2
Asset impairment and lease cancellation charges		1.5			.4			1.5			3.1
Other items:
Indefinite-lived intangible asset impairment charge		–			–			–			7.0
Gain on sale of product line		–			(.6	)		–			–
Product line exits		–			–			2.1			1.8
Divestiture-related costs (1)		.4			1.6			.7			–

Other expense, net	$	7.6		$	11.2		$	21.9		$	28.1

(1): Represents only the portion allocated to continuing operations.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 28, 2013

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

NOTE 15. FAIR VALUE MEASUREMENTS

Recurring Fair Value Measurements

The following table provides the assets and liabilities carried at fair value, measured on a recurring basis, as of December 28, 2013:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Trading securities	$	17.7	$	7.6	$	10.1	$	–
Short-term investments		114.5		–		114.5		–
Derivative assets		3.2		.1		3.1		–
Liabilities
Derivative liabilities	$	4.7	$	–	$	4.7	$	–

The following table provides the assets and liabilities carried at fair value, measured on a recurring basis, as of December 29, 2012:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Trading securities	$	18.6	$	9.3	$	9.3	$	–
Derivative assets		10.0		–		10.0		–
Liabilities
Derivative liabilities	$	3.8	$	1.0	$	2.8	$	–

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 December 28, 2013, trading securities of $.3 million and $17.4 million were included in "Cash and cash equivalents" and "Other current assets," respectively, in the Consolidated Balance Sheets. As of December 29, 2012, trading securities of $.9 million and $17.7 million were included in "Cash and cash equivalents" and "Other current assets," respectively, in the Consolidated Balance Sheets. Short-term investments are comprised of commercial paper and are measured at fair value using broker quoted prices. As of December 28, 2013, short-term investments were included in "Cash and cash equivalents." Derivatives that are exchange-traded are measured at fair value using quoted market prices and are classified within Level 1 of the valuation hierarchy. Derivatives measured based on inputs that are readily available in public markets are classified within Level 2 of the valuation hierarchy.

Non-recurring Fair Value Measurements

During 2013, long-lived assets with carrying amounts totaling $8.3 million were written down to their fair value of $4.8 million, resulting in an impairment charge of $3.5 million, which was included in "Other expense, net" in the Consolidated Statements of Income. The fair value was based on the sale price of the assets, less estimated broker fees, which are primarily Level 3 inputs.

Long-lived assets with carrying amounts totaling $4.4 million were written down to their fair value of $1.3 million, resulting in an impairment charge of $3.1 million during 2011, which was included in "Other expense, net" in the Consolidated Statements of Income. Of the $1.3 million, $1.1 million was primarily based on Level 2 inputs and $.2 million was primarily based on Level 3 inputs. These assets were in both reportable segments and other specialty converting businesses.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

12 Months Ended

Dec. 28, 2013

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

(In millions)

	Balance at Beginning of Year		Net Additions Charged to Costs and Expenses		Deductions From Reserves^(a)			Balance at End of Year

2013
Allowance for doubtful accounts	$	31.1	$	5.1	$	(14.8	)	$	21.4
Allowance for sales returns		13.7		11.2		(14.7	)		10.2
2012
Allowance for doubtful accounts		34.0		3.4		(6.3	)		31.1
Allowance for sales returns		9.3		14.5		(10.1	)		13.7
2011
Allowance for doubtful accounts		38.9		6.3		(11.2	)		34.0
Allowance for sales returns		12.5		10.5		(13.7	)		9.3

^(a): Deductions from reserves include currency translation adjustments for all periods, classification of OCP business balances (where applicable) to "held for sale" in 2011 and the sale of the DES business in 2013.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 28, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

Nature of Operations

Principles of Consolidation

Principles of Consolidation

Financial Presentation

Financial Presentation

Certain prior year amounts have been reclassified to conform to current year presentation.

Segment Reporting

Segment Reporting

We have the following two reportable segments for financial reporting purposes:

•

Pressure-sensitive Materials – manufactures and sells pressure-sensitive labeling technology and materials, films for graphic and reflective applications, performance polymers (largely adhesives used to manufacture pressure-sensitive materials), and specialty tapes; and

•

Retail Branding and Information Solutions – designs, manufactures and sells a wide variety of branding and information products and services, including brand and price tickets, tags and labels (including RFID inlays), and related services, supplies and equipment.

Refer to Note 13, "Segment Information," for further information.

Fiscal Year

Fiscal Year

Our 2013, 2012, and 2011 fiscal years consisted of 52-week periods ending December 28, 2013, December 29, 2012, and December 31, 2011, respectively.

Use of Estimates

Use of Estimates

Cash and Cash Equivalents

Cash and Cash Equivalents

(In millions)	2013		2012		2011


Interest, net of capitalized amounts	$	64.1	$	68.0	$	65.0
Income taxes, net of refunds		129.4		97.7		70.5

Capital expenditures accrued but not paid, including amounts for discontinued operations, were $11.5 million in 2013, $12 million in 2012, and $9.5 million in 2011.

Accounts Receivable

Accounts Receivable

•

Customer-specific allowances;

•

Amounts based upon an aging schedule; and

•

An amount, based on our historical experience, for allowances not yet identified.

Inventories

Inventories

Net inventories at year-end were as follows:

(In millions)	2013		2012


Raw materials	$	196.3	$	184.5
Work-in-progress		149.0		139.2
Finished goods		148.8		149.6

Inventories, net	$	494.1	$	473.3

Property, Plant and Equipment

Property, Plant and Equipment

Major classes of property, plant and equipment, stated at cost, at year-end were as follows:

(In millions)	2013			2012


Land	$	47.0		$	56.5
Buildings and improvements		580.2			660.5
Machinery and equipment		2,001.3			2,090.5
Construction-in-progress		74.3			63.6

Property, plant and equipment		2,702.8			2,871.1
Accumulated depreciation		(1,780.3	)		(1,855.6	)

Property, plant and equipment, net	$	922.5		$	1,015.5

Software

Software

(In millions)	2013			2012


Cost	$	427.9		$	388.4
Accumulated amortization		(264.6	)		(236.3	)

Software, net	$	163.3		$	152.1

Software amortization expense from continuing operations was $35.3 million in 2013, $30.7 million in 2012, and $32.1 million in 2011.

Impairment of Long-lived Assets

Impairment of Long-lived Assets

Goodwill and Other Intangibles Resulting from Business Acquisitions

Goodwill and Other Intangibles Resulting from Business Acquisitions

See also Note 3, "Goodwill and Other Intangibles Resulting from Business Acquisitions."

Foreign Currency

Foreign Currency

We had no operations in hyperinflationary economies in fiscal years 2013, 2012, or 2011.

Financial Instruments

Financial Instruments

In the Consolidated Statements of Cash Flows, hedge transactions are classified in the same category as the item hedged, primarily in operating activities.

See also Note 5, "Financial Instruments."

Fair Value Measurements

Fair Value Measurements

Treasury Shares

Treasury Shares

Revenue Recognition

Revenue Recognition

Advertising Costs

Advertising Costs

Research and Development

Research and Development

Pension and Postretirement Benefits

Pension and Postretirement Benefits

Product Warranty

Product Warranty

Long-Term Incentive Compensation

Long-Term Incentive Compensation

No long-term incentive compensation expense was capitalized for the years ended 2013, 2012, or 2011.

Changes in forfeiture rates are recorded as a cumulative adjustment in the period estimates are revised.

Valuation of Stock-Based Awards

Valuation of Cash-Based Awards

Accounting for Income Taxes for Stock-Based Compensation

See also Note 10, "Long-term Incentive Compensation."

Litigation Matters

Litigation Matters

Environmental Expenditures

Environmental Expenditures

Asset Retirement Obligations

Asset Retirement Obligations

Restructuring Costs

Restructuring Costs

Taxes Based on Income

Taxes Based on Income

Income taxes have not been provided on certain undistributed earnings of international subsidiaries because the earnings are considered to be indefinitely reinvested.

Investment tax credits are accounted for in the period earned in accordance with the flow-through method.

See also Note 12, "Taxes Based on Income."

Net Income Per Share

Net Income Per Share

Net income per common share was computed as follows:

(In millions, except per share amounts)		2013			2012		2011


(A)	Income from continuing operations	$	244.3		$	157.6	$	141.7
(B)	(Loss) income from discontinued operations, net of tax		(28.5	)		57.8		48.4

(C)	Net income available to common shareholders	$	215.8		$	215.4	$	190.1

(D)	Weighted-average number of common shares outstanding		98.4			102.6		105.8
	Dilutive shares (additional common shares issuable under employee stock-based awards)		1.7			.9		1.0

(E)	Weighted-average number of common shares outstanding, assuming dilution		100.1			103.5		106.8

Net income (loss) per common share:
Continuing operations (A) ÷ (D)		$	2.48		$	1.54	$	1.34
Discontinued operations (B) ÷ (D)			(.29	)		.56		.46

Net income per common share (C) ÷ (D)		$	2.19		$	2.10	$	1.80

Net income (loss) per common share, assuming dilution:
Continuing operations (A) ÷ (E)		$	2.44		$	1.52	$	1.33
Discontinued operations (B) ÷ (E)			(.28	)		.56		.45

Net income per common share, assuming dilution (C) ÷ (E)		$	2.16		$	2.08	$	1.78

Comprehensive Income

Comprehensive Income

The changes in "Accumulated other comprehensive loss" (net of tax) for the year 2013 were as follows:

(In millions)	Net Gain (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges			Net Actuarial Gain (Loss), Prior Service Cost and Net Transition Assets, Less Amortization			Foreign Currency Translation Adjustment			Total


Balance as of December 29, 2012	$	(2.0	)	$	(456.5	)	$	180.5		$	(278.0	)
Other comprehensive income (loss) before reclassifications, net of tax		.8			29.4			(53.3	)		(23.1	)
Reclassifications to net income, net of tax		.2			9.0			10.8			20.0

Net current-period other comprehensive income (loss), net of tax		1.0			38.4			(42.5	)		(3.1	)

Balance as of December 28, 2013	$	(1.0	)	$	(418.1	)	$	138.0		$	(281.1	)

Cash flow and firm commitment hedging instrument activities in other comprehensive loss, net of tax, were as follows:

(In millions)	2012


Beginning accumulated derivative loss	$	(6.9	)
Reclassifications to net income		6.0
Net change in the revaluation of hedging transactions		(1.1	)

Ending accumulated derivative loss	$	(2.0	)

The effects of amounts reclassified from "Accumulated other comprehensive loss" to income from continuing operations for the year 2013 were as follows:

(In millions)	Amounts Reclassified from Accumulated Other Comprehensive Loss			Affected Line Item in the Statement Where Net Income is Presented


Gains (losses) on cash flow hedges:
Foreign exchange contracts	$	.6		Cost of products sold
Commodity contracts		(1.2	)	Cost of products sold
Interest rate contracts		(.1	)	Interest expense

		(.7	)	Total before tax
		.2		Benefit from income taxes

		(.5	)	Net of tax
Amortization of defined benefit pension items		(23.5	)	(a)
		7.8		Benefit from income taxes

		(15.7	)	Net of tax

Total reclassifications for the period	$	(16.2	)	Total, net of tax

(a): See Note 6, "Pension and Other Postretirement Benefits," for more information.

The following table sets forth the tax expense (benefit) allocated to each component of other comprehensive income (loss):

(In millions)	2013			2012			2011


Foreign currency translation adjustment	$	–		$	.9		$	–
Pension and other postretirement benefits:
Net actuarial gain (loss)		26.4			(38.3	)		(56.4	)
Prior service (cost) credit		(7.5	)		–			12.8
Reclassifications to net income:
Amortization of net actuarial loss		9.4			6.9			4.7
Amortization of prior service credit		(1.3	)		(1.5	)		(.7	)
Amortization of transition asset		–			(.1	)		(.1	)
Net curtailment on pension and post-retirement benefit obligations		(4.8	)		–			–
Settlement on pension obligations		.6			.2			–
Derivative financial instruments:
Losses (gains) recognized on cash flow hedges		.2			(.7	)		(1.1	)
Reclassifications to net income		.1			3.7			2.4

Income tax expense (benefit) related to items of other comprehensive income (loss)	$	23.1		$	(28.9	)	$	(38.4	)

Business Combinations

Business Combinations

We record the assets acquired and liabilities assumed from acquired businesses at fair value, and we make estimates and assumptions to determine fair value.

Assets Held for Sale

Assets Held for Sale

We measure assets held for sale at the lower of their carrying amount or fair value less costs to sell.

Recent Accounting Requirements

Recent Accounting Requirements

Transactions with Related Persons

Transactions with Related Persons

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 28, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Cash paid for interest and income taxes

(In millions)	2013		2012		2011


Interest, net of capitalized amounts	$	64.1	$	68.0	$	65.0
Income taxes, net of refunds		129.4		97.7		70.5

Net inventories

(In millions)	2013		2012


Raw materials	$	196.3	$	184.5
Work-in-progress		149.0		139.2
Finished goods		148.8		149.6

Inventories, net	$	494.1	$	473.3

Property, Plant and Equipment

(In millions)	2013			2012


Land	$	47.0		$	56.5
Buildings and improvements		580.2			660.5
Machinery and equipment		2,001.3			2,090.5
Construction-in-progress		74.3			63.6

Property, plant and equipment		2,702.8			2,871.1
Accumulated depreciation		(1,780.3	)		(1,855.6	)

Property, plant and equipment, net	$	922.5		$	1,015.5

Capitalized software costs

(In millions)	2013			2012


Cost	$	427.9		$	388.4
Accumulated amortization		(264.6	)		(236.3	)

Software, net	$	163.3		$	152.1

Net income per common share was computed as follows:

(In millions, except per share amounts)		2013			2012		2011


(A)	Income from continuing operations	$	244.3		$	157.6	$	141.7
(B)	(Loss) income from discontinued operations, net of tax		(28.5	)		57.8		48.4

(C)	Net income available to common shareholders	$	215.8		$	215.4	$	190.1

(D)	Weighted-average number of common shares outstanding		98.4			102.6		105.8
	Dilutive shares (additional common shares issuable under employee stock-based awards)		1.7			.9		1.0

(E)	Weighted-average number of common shares outstanding, assuming dilution		100.1			103.5		106.8

Net income (loss) per common share:
Continuing operations (A) ÷ (D)		$	2.48		$	1.54	$	1.34
Discontinued operations (B) ÷ (D)			(.29	)		.56		.46

Net income per common share (C) ÷ (D)		$	2.19		$	2.10	$	1.80

Net income (loss) per common share, assuming dilution:
Continuing operations (A) ÷ (E)		$	2.44		$	1.52	$	1.33
Discontinued operations (B) ÷ (E)			(.28	)		.56		.45

Net income per common share, assuming dilution (C) ÷ (E)		$	2.16		$	2.08	$	1.78

Schedule of changes in "Accumulated other comprehensive loss" (net of tax)

(In millions)	Net Gain (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges			Net Actuarial Gain (Loss), Prior Service Cost and Net Transition Assets, Less Amortization			Foreign Currency Translation Adjustment			Total


Balance as of December 29, 2012	$	(2.0	)	$	(456.5	)	$	180.5		$	(278.0	)
Other comprehensive income (loss) before reclassifications, net of tax		.8			29.4			(53.3	)		(23.1	)
Reclassifications to net income, net of tax		.2			9.0			10.8			20.0

Net current-period other comprehensive income (loss), net of tax		1.0			38.4			(42.5	)		(3.1	)

Balance as of December 28, 2013	$	(1.0	)	$	(418.1	)	$	138.0		$	(281.1	)

Cash flow and firm commitment hedging instrument activities in other comprehensive loss, net of tax

(In millions)	2012


Beginning accumulated derivative loss	$	(6.9	)
Reclassifications to net income		6.0
Net change in the revaluation of hedging transactions		(1.1	)

Ending accumulated derivative loss	$	(2.0	)

Schedule of amounts reclassified from "Accumulated other comprehensive loss" on net income from continuing operations

(In millions)	Amounts Reclassified from Accumulated Other Comprehensive Loss			Affected Line Item in the Statement Where Net Income is Presented


Gains (losses) on cash flow hedges:
Foreign exchange contracts	$	.6		Cost of products sold
Commodity contracts		(1.2	)	Cost of products sold
Interest rate contracts		(.1	)	Interest expense

		(.7	)	Total before tax
		.2		Benefit from income taxes

		(.5	)	Net of tax
Amortization of defined benefit pension items		(23.5	)	(a)
		7.8		Benefit from income taxes

		(15.7	)	Net of tax

Total reclassifications for the period	$	(16.2	)	Total, net of tax

(a): See Note 6, "Pension and Other Postretirement Benefits," for more information.

Tax expenses (benefit) allocated to each component of other comprehensive income (loss):

(In millions)	2013			2012			2011


Foreign currency translation adjustment	$	–		$	.9		$	–
Pension and other postretirement benefits:
Net actuarial gain (loss)		26.4			(38.3	)		(56.4	)
Prior service (cost) credit		(7.5	)		–			12.8
Reclassifications to net income:
Amortization of net actuarial loss		9.4			6.9			4.7
Amortization of prior service credit		(1.3	)		(1.5	)		(.7	)
Amortization of transition asset		–			(.1	)		(.1	)
Net curtailment on pension and post-retirement benefit obligations		(4.8	)		–			–
Settlement on pension obligations		.6			.2			–
Derivative financial instruments:
Losses (gains) recognized on cash flow hedges		.2			(.7	)		(1.1	)
Reclassifications to net income		.1			3.7			2.4

Income tax expense (benefit) related to items of other comprehensive income (loss)	$	23.1		$	(28.9	)	$	(38.4	)

DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE (Tables)

12 Months Ended

Dec. 28, 2013

DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE

The operating results of discontinued operations and loss on sale

(In millions)	2013			2012		2011


Net sales	$	380.4		$	912.3	$	956.2

(Loss) income before taxes, including divestiture-related and restructuring costs	$	(12.4	)	$	86.4	$	84.6
Provision for income taxes		.1			28.6		36.2

(Loss) income from discontinued operations, net of tax before loss on sale		(12.5	)		57.8		48.4
Loss on sale, net of tax provision of $65.4		(16.0	)		–		–

(Loss) income from discontinued operations, net of tax	$	(28.5	)	$	57.8	$	48.4

Carrying values of the major classes of assets and liabilities of the OCP business that were classified as "held for sale"

(In millions)	2012


Assets
Trade accounts receivable, net	$	119.0
Inventories, net		57.2
Other current assets		7.7

Total current assets		183.9
Property, plant and equipment, net		79.5
Goodwill		167.9
Other intangibles resulting from business acquisitions, net		32.5
Other assets		8.4

	$	472.2

Liabilities
Short-term borrowings	$	–
Accounts payable		31.2
Accrued payroll and employee benefits		21.2
Other accrued liabilities		91.9

Total current liabilities		144.3
Non-current liabilities		16.2

	$	160.5

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 28, 2013

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS

Changes in net carrying amount of goodwill

(In millions)	Pressure- sensitive Materials			Retail Branding and Information solutions			Other specialty converting businesses			Total


Goodwill as of December 31, 2011	$	336.7		$	419.1		$	3.5		$	759.3
Foreign currency translation adjustments		1.6			3.5			–			5.1

Goodwill as of December 29, 2012		338.3			422.6			3.5			764.4
Divestiture (1)		–			–			(3.5	)		(3.5	)
Acquisition adjustments		–			(.2	)		–			(.2	)
Translation adjustments		(3.9	)		(5.7	)		–			(9.6	)

Goodwill as of December 28, 2013	$	334.4		$	416.7		$	–		$	751.1

(1): See Note 2, "Discontinued Operations, Exit/Sale of Product Lines, Sale of Assets and Assets Held for Sale," for more information.

Finite-Lived Intangible Assets

	2013						2012

(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Customer relationships	$	234.1	$	164.6	$	69.5	$	234.7	$	142.3	$	92.4
Patents and other acquired technology		48.9		38.3		10.6		49.0		34.0		15.0
Trade names and trademarks		26.2		22.5		3.7		25.7		21.9		3.8
Other intangibles		12.4		11.1		1.3		12.4		9.7		2.7

Total	$	321.6	$	236.5	$	85.1	$	321.8	$	207.9	$	113.9

Future amortization expense for finite lived intangible assets

(In millions)	Estimated Amortization Expense


2014	$	24.3
2015		20.9
2016		19.5
2017		10.0
2018		2.5

Summary of weighted-average amortization periods from the date of acquisition and weighted-average remaining useful lives of finite-lived intangible assets

(In years)	Weighted-average Amortization Periods from the Date of Acquisition	Weighted-average Remaining Useful Life


Customer relationships	11	3
Patents and other acquired technology	13	3
Trade names and trademarks	12	6
Other intangibles	6	1

DEBT AND CAPITAL LEASES (Tables)

12 Months Ended

Dec. 28, 2013

DEBT AND CAPITAL LEASES

Schedule of long-term debt, including its respective interest rates, and capital lease obligations

(In millions)	2013			2012


Long-term debt and capital leases
Medium-term notes:
Series 1995 due 2015 through 2025	$	50.0		$	50.0
Long-term notes
Senior notes due 2013 at 4.9%		–			250.0
Senior notes due 2017 at 6.6%		249.6			249.4
Senior notes due 2020 at 5.4%		249.9			249.9
Senior notes due 2023 at 3.4%		249.7			–
Senior notes due 2033 at 6.0%		150.0			150.0
Capital lease obligations		3.0			4.8
Less amount classified as current		(1.6	)		(251.9	)

Total long-term debt and capital leases	$	950.6		$	702.2

Schedule of maturities of long-term debt and capital leases for each of the next five fiscal years and thereafter

Year	(In millions)


2014 (classified as current)	$	1.6
2015		5.7
2016		.2
2017		249.7
2018		.2
2019 and thereafter		694.8

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 28, 2013

FINANCIAL INSTRUMENTS

Fair value and balance sheet locations of derivatives

The following table provides the fair value and balance sheet locations of derivatives as of December 28, 2013:

	Asset			Liability

(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value

Foreign exchange contracts	Other current assets	$	3.1	Other accrued liabilities	$	4.7
Commodity contracts	Other current assets		.1	Other accrued liabilities		–

		$	3.2		$	4.7

The following table provides the fair value and balance sheet locations of derivatives as of December 29, 2012:

	Asset			Liability

(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value

Foreign exchange contracts	Other current assets	$	10.0	Other accrued liabilities	$	2.8
Commodity contracts				Other accrued liabilities		.9
Commodity contracts				Long-term retirement benefits and other liabilities		.1

		$	10.0		$	3.8

Components of the gain (loss) recognized in income related to fair value hedge contracts

(In millions)	Location of Gain (Loss) in Income	2013			2012		2011


Foreign exchange contracts	Cost of products sold	$	2.3		$	–	$	.5
Foreign exchange contracts	Marketing, general and administrative expense		(35.9	)		17.8		(13.0	)

		$	(33.6	)	$	17.8	$	(12.5	)

Components of the Gains (losses) recognized in accumulated other comprehensive loss on derivatives

(In millions)	2013			2012			2011


Foreign exchange contracts	$	1.1		$	(.9	)	$	.3
Commodity contracts		(.1	)		(.9	)		(3.3	)

	$	1.0		$	(1.8	)	$	(3.0	)

Components of the gain (loss) reclassified from accumulated other comprehensive loss

(In millions)	Location of Gain (Loss) in Income	2013			2012			2011


Foreign exchange contracts	Cost of products sold	$	.6		$	(2.5	)	$	.9
Commodity contracts	Cost of products sold		(1.2	)		(2.8	)		(2.9	)
Interest rate contracts	Interest expense		(.1	)		(4.4	)		(4.2	)

		$	(.7	)	$	(9.7	)	$	(6.2	)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Dec. 28, 2013

Defined Benefit Plans

Schedule of one-percentage-point change in assumed health care cost trend rates

(In millions)	One-percentage-point Increase		One-percentage-point Decrease


Effect on total of service and interest cost components	$	.01	$	(.01	)
Effect on postretirement benefit obligations		.3		(.3	)

Schedule of plan benefit obligations

Plan Benefit Obligations

	Pension Benefits												U.S. Postretirement Health Benefits

	2013						2012						2013			2012
(In millions)	U.S.			Int'l			U.S.			Int'l

Change in projected benefit obligations
Projected benefit obligations at beginning of year	$	963.7		$	597.6		$	835.8		$	519.5		$	12.0		$	12.4
Service cost		.4			13.0			.3			9.0			–			–
Interest cost		39.7			23.3			40.3			24.5			.3			.4
Participant contribution		–			4.1			–			4.1			1.2			1.2
Amendments (1)		19.9			–			–			–			–			–
Actuarial (gain) loss (2)		(59.8	)		8.5			131.5			50.5			(.5	)		1.7
Plan transfer (3)		5.7			7.1			2.0			.1			–			–
Benefits paid		(45.4	)		(21.2	)		(46.2	)		(22.3	)		(3.5	)		(3.7	)
Curtailments		9.5			(1.7	)		–			–			(.4	)		–
Settlements		–			(6.0	)		–			–			–			–
Foreign currency translation		–			18.1			–			12.2			–			–

Projected benefit obligations at end of year	$	933.7		$	642.8		$	963.7		$	597.6		$	9.1		$	12.0

Accumulated benefit obligations at end of year	$	933.7		$	601.7		$	961.4		$	559.0

(1): Amendments to the U.S. pension plan related to the SHARE plan.
(2): Actuarial gain/loss in 2013 included an out-of-period adjustment of $15 million recorded in the fourth quarter of 2013 to properly state the balance sheet pension liability by increasing the projected benefit obligation as a result of a change from the historical method of projecting the SHARE Plan asset values. The corresponding adjustment affected other comprehensive income, with no impact to net income in 2013, and is subject to future amortization. The impact of this out-of-period adjustment was not considered material to the current or any previous financial statements.
(3): Plan transfer for the U.S. represented a transfer from the Avery Dennison Corporation Employee Savings Plan. Plan transfers for the international plans include transfers in Switzerland and Germany related to the OCP and DES divestitures.

Schedule of plan assets

Plan Assets

	Pension Benefits												U.S. Postretirement Health Benefits

	2013						2012						2013			2012
(In millions)	U.S.			Int'l			U.S.			Int'l

Change in plan assets
Plan assets at beginning of year	$	648.5		$	515.0		$	551.2		$	441.3		$	–		$	–
Actual return on plan assets		61.8			26.6			83.9			62.7			–			–
Plan transfer (1)		5.7			2.3			2.0			–			–			–
Employer contributions		76.8			28.9			57.6			19.4			2.3			2.5
Participant contributions		–			4.1			–			4.1			1.2			1.2
Benefits paid		(45.4	)		(21.2	)		(46.2	)		(22.3	)		(3.5	)		(3.7	)
Settlements		–			(6.0	)		–			–			–			–
Foreign currency translation		–			16.9			–			9.8			–			–

Plan assets at end of year	$	747.4		$	566.6		$	648.5		$	515.0		$	–		$	–

(1): Plan transfer for the U.S. represented a transfer from our savings plan. Plan transfers for the international plans include transfers in Switzerland related to the OCP and DES divestitures.

Schedule of funded status

Funded Status

	Pension Benefits												U.S. Postretirement Health Benefits

	2013						2012						2013			2012
(In millions)	U.S.			Int'l			U.S.			Int'l

Funded status of the plans
Other assets	$	–		$	35.4		$	–		$	38.3		$	–		$	–
Other accrued liabilities		(3.6	)		(2.7	)		(3.9	)		(2.1	)		(2.2	)		(2.7	)
Long-term retirement benefits and other liabilities		(182.7	)		(108.9	)		(311.3	)		(118.9	)		(6.9	)		(9.3	)

Plan assets less than benefit obligations	$	(186.3	)	$	(76.2	)	$	(315.2	)	$	(82.7	)	$	(9.1	)	$	(12.0	)

Schedule of Weighted-average assumptions used for determining year-end obligations

	Pension Benefits																		U.S. Postretirement Health Benefits

	2013						2012						2011						2013			2012			2011
	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Weighted-average assumptions used for determining year-end obligations
Discount rate		4.85	%		3.88	%		4.00	%		3.94	%		4.75	%		4.80	%		3.45	%		2.85	%		3.75	%
Rate of increase in future compensation levels		–			2.24			–			2.24			–			2.79			–			–			–

Schedule of pretax amounts, including that of discontinued operations, recognized in accumulated other comprehensive loss

	Pension Benefits								U.S. Postretirement Health Benefits

	2013				2012				2013			2012
(In millions)	U.S.		Int'l		U.S.		Int'l

Net actuarial loss	$	466.9	$	129.5	$	558.8	$	131.4	$	26.6		$	29.9
Prior service cost (credit)		21.0		2.5		1.5		2.9		(26.2	)		(43.3	)
Net transition obligation		–		.5		–		.4		–			–

Net amount recognized in accumulated other comprehensive loss (income)	$	487.9	$	132.5	$	560.3	$	134.7	$	.4		$	(13.4	)

Schedule of pretax amounts, including that of discontinued operations, recognized in other comprehensive loss (income)

	Pension Benefits																		U.S. Postretirement Health Benefits

	2013						2012						2011						2013			2012		2011
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Net actuarial (gain) loss	$	(73.4	)	$	6.1		$	93.5		$	16.4		$	133.6		$	18.1		$	(.9	)	$	1.7	$	7.0
Prior service cost (credit)		19.9			–			–			–			–			–			–			–		(34.1	)
Amortization of net actuarial loss and prior service cost (credit)		(18.9	)		(8.3	)		(15.3	)		(3.3	)		(8.9	)		(3.8	)		14.7			2.1		.6

Net amount recognized in other comprehensive (income) loss	$	(72.4	)	$	(2.2	)	$	78.2		$	13.1		$	124.7		$	14.3		$	13.8		$	3.8	$	(26.5	)

Schedule of components of net periodic benefit cost

	Pension Benefits																		U.S. Postretirement Health Benefits

	2013						2012						2011						2013			2012			2011
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Service cost	$	.4		$	13.0		$	.3		$	9.1		$	.3		$	10.5		$	–		$	–		$	1.3
Interest cost		39.7			23.3			40.3			24.5			40.2			26.3			.3			.5			1.7
Expected return on plan assets		(48.1	)		(22.6	)		(45.9	)		(22.1	)		(45.7	)		(24.9	)		–			–			–
Recognized actuarial loss		17.7			6.3			14.3			3.1			8.5			4.0			2.5			2.7			1.9
Amortization of prior service cost (credit)		.3			.5			.4			.4			.4			.4			(4.1	)		(4.8	)		(2.5	)
Amortization of transition asset		–			(.1	)		–			(.5	)		–			(.5	)		–			–			–
Recognized gain on curtailment (1)		–			(1.5	)		–			–			–			(.2	)		–			–			–
Recognized loss (gain) on settlement (2)		–			.5			.6			–			–			(.1	)		–			–			–

Net periodic benefit cost (credit)	$	10.0		$	19.4		$	10.0		$	14.5		$	3.7		$	15.5		$	(1.3	)	$	(1.6	)	$	2.4

(1): Recognized gain on curtailment in 2013 related to a plan in Taiwan and was recorded in "Other expense, net" in the Consolidated Statements of Income.
(2): Represented settlement events in the U.S. in 2012.

Schedule of weighted-average assumptions used for determining net periodic cost

	Pension Benefits																		U.S. Postretirement Health Benefits

	2013						2012						2011						2013			2012			2011
	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Discount rate		4.00	%		3.94	%		4.75	%		4.80	%		5.50	%		5.24	%		2.85	%		3.75	%		5.25	%
Expected long-term rate of return on plan assets		8.00			4.78			8.00			4.95			8.00			5.48			–			–			–
Rate of increase in future compensation levels		–			2.24			–			2.79			–			2.95			–			–			–

Schedule of anticipated future benefit payments

	Pension Benefits				U.S. Postretirement Health Benefits


(In millions)	U.S.		Int'l

2014	$	48.4	$	20.7	$	2.3
2015		49.6		21.0		1.7
2016		51.0		22.6		1.1
2017		53.2		22.9		.9
2018		70.1		23.8		.6
2019 – 2023		289.9		138.7		2.0

Schedule of estimated amortization of amounts, included in accumulated other comprehensive loss

	Pension Benefits				U.S. Postretirement Health Benefits


(In millions)	U.S.		Int'l

Net actuarial loss	$	15.7	$	5.3	$	2.7
Prior service cost (credit)		1.2		.4		(3.3	)
Net transition obligation		–		.1		–

Net amount to be recognized	$	16.9	$	5.8	$	(.6	)

U.S.

Defined Benefit Plans

Schedule of fair value of plan assets

The following table sets forth, by level within the fair value hierarchy, U.S. plan assets (all in the ADPP) at fair value as of year-end 2013:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Cash	$	15.8	$	15.8	$	–	$	–
Liability hedging portfolio
Pooled funds – Corporate debt/agencies		332.7		–		332.7		–
Pooled funds – U.S. bonds, other fixed income		.4		–		.4		–

Total liability hedging portfolio		333.1		–		333.1		–

Growth portfolio (1)
Pooled funds – Global equities		60.0		–		60.0		–
Pooled funds – Global real estate investment trusts		45.8		–		45.8		–
Pooled funds – High yield bonds		65.2		–		65.2		–
Pooled funds – International		86.6		–		86.6		–
Pooled funds – U.S. equities		89.5		–		89.5		–
Pooled funds – Alternative investments		51.2		–		–		51.2

Total growth portfolio		398.3		–		347.1		51.2

Total U.S. plan assets at fair value	$	747.2	$	15.8	$	680.2	$	51.2

Other assets (2)		.2

Total U.S. plan assets	$	747.4

(1): "Pooled funds – International" excludes U.S. equity securities; "Pooled funds – Global equities" includes U.S. equity securities.
(2): Included accrued recoverable taxes at year-end 2013.

The following table sets forth, by level within the fair value hierarchy, U.S. plan assets (all in the ADPP) at fair value as of year-end 2012:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Cash	$	8.0	$	8.0	$	–	$	–
Liability hedging portfolio
Pooled funds – Corporate debt/agencies		216.1		–		216.1		–

Total liability hedging portfolio		216.1		–		216.1		–

Growth portfolio (1)
Pooled funds – Global equities		65.2		–		65.2		–
Pooled funds – Global real estate investment trusts		43.3		–		43.3		–
Pooled funds – High yield bonds		63.7		–		63.7		–
Pooled funds – International		97.5		–		97.5		–
Pooled funds – U.S. equities		154.5		–		154.5		–

Total growth portfolio		424.2		–		424.2		–

Total U.S. plan assets at fair value	$	648.3	$	8.0	$	640.3	$	–

Other assets (2)		.2

Total U.S. plan assets	$	648.5

(1): "Pooled funds – International" excludes U.S. equity securities; "Pooled funds – Global equities" includes U.S. equity securities.
(2): Included accrued recoverable taxes at year-end 2012.

Schedule of reconciliation of Level 3 assets

The following table presents a reconciliation of Level 3 for U.S. plan assets held during the year ended December 28, 2013:

	Level 3 Assets

(In millions)	Pooled Funds – Alternative Investments

Balance at December 29, 2012	$	–
Net realized and unrealized gain		1.2
Purchases		50.0
Settlements		–
Impact of changes in foreign currency exchange rates		–

Balance at December 28, 2013	$	51.2

Int'l

Defined Benefit Plans

Schedule of fair value of plan assets

The following table sets forth, by level within the fair value hierarchy, international plan assets at fair value as of year-end 2013:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Cash	$	4.7	$	4.7	$	–	$	–
Fixed income securities
Mutual funds		.3		.3		–		–
Pooled funds – Emerging markets bonds		6.2		–		6.2		–
Pooled funds – European bonds		193.8		–		193.8		–
Pooled funds – U.K. bonds		56.6		–		56.6		–
Pooled funds – Global bonds		3.3		–		3.3		–
Pooled funds – High yield bonds		6.7		–		6.7		–

Total fixed income securities		266.9		.3		266.6		–

Equity securities
Pooled funds – Emerging markets		20.9		–		20.9		–
Pooled funds – U.K.		17.2		–		17.2		–
Pooled funds – Global		151.3		–		151.3		–
Pooled funds – Real estate investment trusts		28.8		–		28.8		–

Total equity securities		218.2		–		218.2		–

Other investments
Pooled funds – Commodities		9.5		–		9.5		–
Pooled funds – Real estate		7.7		–		7.7		–
Pooled funds – Other		31.7		–		31.7		–
Insurance contracts		27.4		–		–		27.4

Total other investments		76.3		–		48.9		27.4

Total international plan assets at fair value	$	566.1	$	5.0	$	533.7	$	27.4

Other assets		.5

Total international plan assets	$	566.6

The following table sets forth, by level within the fair value hierarchy, international plan assets at fair value as of year-end 2012:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Cash	$	6.2	$	6.2	$	–	$	–
Fixed income securities
Mutual funds		.3		.3		–		–
Pooled funds – European bonds		239.0		–		239.0		–
Pooled funds – Global bonds		9.0		–		9.0		–

Total fixed income securities		248.3		.3		248.0		–

Equity securities
Pooled funds – Asia Pacific region		12.7		–		12.7		–
Pooled funds – Emerging markets		18.5		–		18.5		–
Pooled funds – European region		46.3		–		46.3		–
Pooled funds – Global		81.5		–		81.5		–
Pooled funds – Real estate investment trusts		28.9		–		28.9		–
Pooled funds – U.S.		10.6		–		10.6		–

Total equity securities		198.5		–		198.5		–

Other investments
Pooled funds – Other		33.8		–		33.8		–
Insurance contracts		27.8		–		–		27.8

Total other investments		61.6		–		33.8		27.8

Total international plan assets at fair value	$	514.6	$	6.5	$	480.3	$	27.8

Other assets		.4

Total international plan assets	$	515.0

Schedule of reconciliation of Level 3 assets

The following table presents a reconciliation of Level 3 for international plan assets held during the year ended December 28, 2013:

	Level 3 Assets

(In millions)	Insurance Contracts

Balance at December 29, 2012	$	27.8
Net realized and unrealized gain		.8
Purchases		2.4
Settlements		(6.7	)
Transfers (1)		2.3
Impact of changes in foreign currency exchange rates		.8

Balance at December 28, 2013	$	27.4

(1): Includes transfers in Switzerland related to the OCP and DES divestitures.

The following table presents a reconciliation of Level 3 for international plan assets held during the year ended December 29, 2012:

	Level 3 Assets

(In millions)	Insurance Contracts

Balance at December 31, 2011	$	26.5
Net realized and unrealized gain		.5
Purchases		2.0
Settlements		(1.7	)
Impact of changes in foreign currency exchange rates		.5

Balance at December 29, 2012	$	27.8

COMMITMENTS (Tables)

12 Months Ended

Dec. 28, 2013

COMMITMENTS

Minimum annual rental commitments on operating leases

Year	(In millions)


2014	$	52.2
2015		41.9
2016		30.2
2017		17.2
2018		12.2
2019 and thereafter		53.1

Total minimum lease payments	$	206.8

CONTINGENCIES (Tables)

12 Months Ended

Dec. 28, 2013

CONTINGENCIES

Costs of Environmental Liabilities with Remediation

(In millions)	2013			2012


Balance at beginning of year	$	32.5		$	40.6
Charges (reversals), net		4.6			(3.1	)
Payments		(7.5	)		(5.0	)

Balance at end of year	$	29.6		$	32.5

LONG-TERM INCENTIVE COMPENSATION (Tables)

12 Months Ended

Dec. 28, 2013

LONG-TERM INCENTIVE COMPENSATION

Summary of stock-based compensation expense from continuing operations and the total recognized tax benefit related to this expense

(In millions)	2013		2012		2011


Stock-based compensation expense	$	32.3	$	35.8	$	36.4
Tax benefit		10.8		12.5		12.5

Schedule of weighted-average assumptions of options granted during the year




Risk-free interest rate	1.04	%	1.82	%	2.22	%
Expected stock price volatility	27.17	%	32.81	%	30.70	%
Expected dividend yield	3.40	%	3.30	%	2.76	%
Expected option term	6.2 years		6.0 years		6.2 years

Schedule of stock option activity

	Number of options (in thousands)		Weighted-average exercise price		Weighted-average remaining contractual life (in years)	Aggregate intrinsic value (in millions)


Outstanding at December 29, 2012	11,376.9		$	43.93	5.59	$	28.0
Granted	.8			40.33
Exercised	(1,668.1	)		27.01
Forfeited or expired	(1,818.4	)		51.19

Outstanding at December 28, 2013	7,891.2		$	45.85	4.27	$	69.0
Options vested and expected to vest at December 28, 2013	7,608.9			46.30	4.15		64.2
Options exercisable at December 28, 2013	6,230.4		$	49.08	3.41	$	40.8

Performance Units (PS)

Stock-Based Compensation

Summary of information related to awarded

			Weighted- average grant-date fair value


Unvested at December 29, 2012	1,001.2		$	35.20
Granted at target	208.5			52.93
Granted for above-target performance (1)	57.5			30.87
Vested	(328.8	)		29.71
Forfeited/cancelled	(143.2	)		37.78

Unvested at December 28, 2013	795.2		$	41.32

(1): Reflects awards granted in excess of target as a result of our achieving above-target performance for the 2010 - 2012 performance period.

Market-leveraged stock units (MSUs)

Stock-Based Compensation

Summary of information related to awarded

	Number of MSUs (in thousands)		Weighted- average grant-date fair value


Unvested at December 29, 2012	–		$	–
Granted at target	346.6			51.40
Vested	–			–
Forfeited/cancelled	(16.5	)		51.56

Unvested at December 28, 2013	330.1		$	51.40

Restricted Stock Units (RSUs)

Stock-Based Compensation

Summary of information related to awarded

	Number of RSUs (in thousands)		Weighted- average grant-date fair value


Unvested at December 29, 2012	1,352.2		$	29.68
Granted	59.9			38.72
Vested	(548.6	)		29.06
Forfeited/cancelled	(182.5	)		29.77

Unvested at December 28, 2013	681.0		$	31.06

COST REDUCTION ACTIONS (Tables)

12 Months Ended

Dec. 28, 2013

COST REDUCTION ACTIONS

Restructuring charges and payments

During 2013, restructuring charges and payments were as follows:

(In millions)	Accrual at December 29, 2012		Charges (Reversals), net		Cash Payments			Non-cash Impairment			Foreign Currency Translation			Accrual at December 28, 2013


2012 Program
Severance and related costs	$	20.7	$	27.2	$	(41.0	)	$	–		$	(.3	)	$	6.6
Lease and other contract cancellation costs		.1		3.4		(3.3	)		–			–			.2
Asset impairment charges		–		9.7		–			(9.7	)		–			–
2011 Actions
Severance and related costs		.1		–		(.1	)		–			–			–

Total	$	20.9	$	40.3	$	(44.4	)	$	(9.7	)	$	(.3	)	$	6.8

During 2012, restructuring charges and payments, including those for discontinued operations, were as follows:

(In millions)	Accrual at December 31, 2011		Charges (Reversals), net			Cash Payments			Non-cash Impairment			Foreign Currency Translation		Accrual at December 29, 2012


2012 Program
Severance and related costs	$	–	$	50.7		$	(30.5	)	$	–		$	.5	$	20.7
Lease cancellation costs		–		.1			–			–			–		.1
Asset impairment charges		–		6.9			–			(6.9	)		–		–
2011 Actions
Severance and related costs		12.7		(1.1	)		(11.7	)		–			.2		.1
Lease cancellation costs		1.8		(.2	)		(1.6	)		–			–		–
Q3 2010 – Q42010 Actions
Severance and related costs		.2		–			(.2	)		–			–		–

Total	$	14.7	$	56.4		$	(44.0	)	$	(6.9	)	$	.7	$	20.9

Costs incurred by reportable segment and other businesses in connection with restructuring actions

(In millions)	2013		2012		2011


Restructuring costs by reportable segment and other businesses
Pressure-sensitive Materials	$	10.8	$	34.1	$	19.7
Retail Branding and Information Solutions		28.5		17.8		19.4
Other specialty converting businesses		.1		.9		–
Corporate		.9		3.0		4.8

Continuing operations		40.3		55.8		43.9

Discontinued operations		–		.6		1.3

	$	40.3	$	56.4	$	45.2

TAXES BASED ON INCOME (Tables)

12 Months Ended

Dec. 28, 2013

TAXES BASED ON INCOME

Taxes based on Income (loss)

(In millions)	2013			2012			2011


Current:
U.S. federal tax	$	1.9		$	(18.7	)	$	(8.6	)
State taxes		.3			(2.4	)		(1.1	)
International taxes		107.3			101.2			78.4

		109.5			80.1			68.7

Deferred:
U.S. federal tax		(11.2	)		9.5			(6.8	)
State taxes		1.3			(9.3	)		(1.4	)
International taxes		19.2			(.3	)		11.0

		9.3			(.1	)		2.8

Provision for income taxes	$	118.8		$	80.0		$	71.5

The principal item accounting for the difference between taxes

(In millions)	2013			2012			2011


Computed tax at 35% of income before taxes	$	127.1		$	83.1		$	74.5
Increase (decrease) in taxes resulting from:
State taxes, net of federal tax benefit		2.4			1.1			(2.4	)
Foreign earnings taxed at different rates (1)(2)		(14.7	)		11.8			2.3
Valuation allowance		(4.3	)		(23.6	)		7.0
Corporate owned life insurance		(6.9	)		(5.5	)		(5.1	)
U.S. federal research and development tax credits		(7.0	)		–			(4.6	)
Tax contingencies and audit settlements		23.1			9.4			2.9
Expiration of carryforward items		2.5			4.8			.4
Other items, net		(3.4	)		(1.1	)		(3.5	)

Provision for income taxes	$	118.8		$	80.0		$	71.5

(1): Included foreign earnings taxed in the U.S., net of credits, for all years.
(2): Included $12.1 million and $11.2 million of expense related to the accrual of U.S. taxes on certain foreign earnings for 2013 and 2012, respectively. For 2011, there was no such accrual.

Income (loss) from continuing operations before taxes from our U.S. and international operations

(In millions)	2013			2012			2011


U.S.	$	(36.2	)	$	(125.7	)	$	(81.8	)
International		399.3			363.3			295.0

Income from continuing operations before taxes	$	363.1		$	237.6		$	213.2

Components of the temporary differences

(In millions)	2013			2012


Accrued expenses not currently deductible	$	44.7		$	80.3
Net operating losses		306.2			323.8	(1)
Tax credit carryforwards		129.2			118.0
Capital loss carryforward		–			6.0
Postretirement and postemployment benefits		100.8			107.9
Pension costs		95.7			146.1
Inventory reserves		8.6			12.1
Other assets		6.2			2.7
Valuation allowance		(59.0	)		(69.3	) (1)

Total deferred tax assets (2)		632.4			727.6

Depreciation and amortization		(127.8	)		(166.7	)
Repatriation accrual		(52.9	)		(20.3	)
Foreign operating loss recapture		(136.5	)		(136.5	)
Other liabilities		(1.8	)		(3.1	) (1)

Total deferred tax liabilities (2)		(319.0	)		(326.6	)

Total net deferred tax assets	$	313.4		$	401.0

(1): The presentation for 2012 was revised to conform to the presentation shown for 2013. The revision was immaterial having no impact on total net deferred tax assets but resulted in a decrease of $33.4 million, $27.9 million, and $5.5 million in net operating losses, valuation allowance, and other liabilities, respectively.
(2): Reflect gross amounts before jurisdictional netting of deferred tax assets and liabilities.

Reconciliation of the beginning and ending amount of unrecognized tax benefits

(In millions)	2013			2012


Balance at beginning of year	$	121.6		$	120.3
Additions based on tax positions related to the current year		20.1			15.7
Additions for tax positions of prior years		8.3			.6
Reductions for tax positions of prior years:
Changes in judgment		(4.0	)		(5.6	)
Settlements		(2.6	)		(2.3	)
Lapses and statute expirations		(6.2	)		(4.4	)
Changes due to translation of foreign currencies		–			(2.7	)

Balance at end of year	$	137.2		$	121.6

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 28, 2013

SEGMENT INFORMATION

Financial information, by reportable segment and other businesses from continuing operations

(In millions)	2013			2012			2011


Net sales to unaffiliated customers
Pressure-sensitive Materials	$	4,455.0		$	4,257.6		$	4,261.0
Retail Branding and Information Solutions		1,611.1			1,535.0			1,510.1
Other specialty converting businesses		73.9			70.9			73.8

Net sales to unaffiliated customers	$	6,140.0		$	5,863.5		$	5,844.9

Intersegment sales
Pressure-sensitive Materials	$	64.6		$	60.9		$	59.5
Retail Branding and Information Solutions		2.4			3.8			3.3
Other specialty converting businesses		3.6			.8			.7

Intersegment sales	$	70.6		$	65.5		$	63.5

Income from continuing operations before taxes
Pressure-sensitive Materials	$	442.8		$	359.7		$	349.1
Retail Branding and Information Solutions		81.7			53.3			42.1
Other specialty converting businesses		(8.3	)		(16.2	)		(12.5	)
Corporate expense		(94.1	)		(86.3	)		(94.4	)
Interest expense		(59.0	)		(72.9	)		(71.1	)

Income from continuing operations before taxes	$	363.1		$	237.6		$	213.2

Capital expenditures
Pressure-sensitive Materials	$	81.1		$	64.8		$	71.2
Retail Branding and Information Solutions		42.4			24.7			24.2
Other specialty converting businesses		1.2			3.4			3.5

Capital expenditures	$	124.7		$	92.9		$	98.9

Depreciation and amortization expense
Pressure-sensitive Materials	$	113.5		$	112.8		$	119.1
Retail Branding and Information Solutions		86.7			93.9			96.5
Other specialty converting businesses		4.1			4.3			4.4

Depreciation and amortization expense	$	204.3		$	211.0		$	220.0

Other expense, net by reportable segment and other businesses
Pressure-sensitive Materials	$	10.8		$	33.5		$	20.1
Retail Branding and Information Solutions		20.0			24.8			17.8
Other specialty converting businesses		.1			4.8			–
Corporate		5.7			5.7			13.7

Other expense, net	$	36.6		$	68.8		$	51.6

Other expense, net by type
Restructuring costs:
Severance and related costs	$	27.2		$	49.3		$	35.0
Asset impairment charges and lease and other contract cancellation costs		13.1			6.5			8.9
Other items:
Charitable contribution to Avery Dennison Foundation		10.0			–			–
Indefinite-lived intangible asset impairment charge		–			7.0			–
Gain on sale of product line		–			(.6	)		–
Gain on sale of assets		(17.8	)		–			–
Loss from debt extinguishment		–			–			.7
Gain from curtailment of pension obligation		(1.6	)		–			–
Legal settlements		2.5			–			(1.2	)
Product line exits		–			3.9			–
Divestiture-related costs (1)		3.2			2.7			8.2

Other expense, net	$	36.6		$	68.8		$	51.6

(1): Represents only the portion allocated to continuing operations.

Summary of net sales to unaffiliated customers

(In millions)	2013		2012		2011


Net sales to unaffiliated customers
U.S.	$	1,537.6	$	1,528.3	$	1,473.0
Europe		1,958.4		1,851.1		1,994.8
Asia		1,823.5		1,627.6		1,526.9
Latin America		515.6		501.2		489.9
Other international		304.9		355.3		360.3

Net sales to unaffiliated customers	$	6,140.0	$	5,863.5	$	5,844.9

Summary of property, plant and equipment, net

(In millions)	2013		2012		2011


Property, plant and equipment, net
U.S.	$	279.6	$	340.2	$	370.5
International		642.9		675.3		708.9

Property, plant and equipment, net	$	922.5	$	1,015.5	$	1,079.4

QUARTERLY FINANCIAL INFORMATION (Unaudited) (Tables)

12 Months Ended

Dec. 28, 2013

QUARTERLY FINANCIAL INFORMATION (Unaudited)

Quarterly Financial Information

(In millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter


2013
Net sales	$	1,498.9		$	1,552.3		$	1,504.9		$	1,583.9
Gross profit		401.7			417.5			402.2			416.3
Income from continuing operations		66.8			70.8			62.0			44.7
Loss from discontinued operations, net of tax		(9.0	)		(2.0	)		(15.5	)		(2.0	)
Net income		57.8			68.8			46.5			42.7
Net income (loss) per common share:
Continuing operations		.67			.71			.63			.46
Discontinued operations		(.09	)		(.02	)		(.16	)		(.02	)
Net income per common share		.58			.69			.47			.44
Net income (loss) per common share, assuming dilution:
Continuing operations		.66			.70			.62			.45
Discontinued operations		(.09	)		(.02	)		(.15	)		(.02	)
Net income per common share, assuming dilution		.57			.68			.47			.43

2012
Net sales	$	1,443.0		$	1,490.4		$	1,447.0		$	1,483.1
Gross profit		377.1			388.1			381.0			382.0
Income from continuing operations		44.6			49.1			35.9			28.0
(Loss) income from discontinued operations, net of tax		(.7	)		15.1			22.4			21.0
Net income		43.9			64.2			58.3			49.0
Net income per common share:
Continuing operations		.42			.47			.36			.28
Discontinued operations		–			.15			.22			.21
Net income per common share		.42			.62			.58			.49
Net income (loss) per common share, assuming dilution:
Continuing operations		.42			.47			.35			.28
Discontinued operations		(.01	)		.15			.22			.20
Net income per common share, assuming dilution		.41			.62			.57			.48

Summary of other expense, net by type for each quarter

(In millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter


2013
Restructuring costs:
Severance and related costs	$	6.8		$	5.4		$	8.7		$	6.3
Asset impairment, lease and other contract cancellation charges		1.3			2.4			8.0			1.4
Other items:
Charitable contribution to Avery Dennison Foundation		–			–			10.0			–
Gain on sale of assets		(1.3	)		(10.9	)		(.5	)		(5.1	)
Gain from curtailment of pension obligation		–			–			(1.6	)		–
Legal settlement		–			2.5			–			–
Divestiture-related costs (1)		.7			.3			1.1			1.1

Other expense, net	$	7.5		$	(.3	)	$	25.7		$	3.7

2012
Restructuring costs:
Severance and related costs	$	5.7		$	9.8		$	17.6		$	16.2
Asset impairment and lease cancellation charges		1.5			.4			1.5			3.1
Other items:
Indefinite-lived intangible asset impairment charge		–			–			–			7.0
Gain on sale of product line		–			(.6	)		–			–
Product line exits		–			–			2.1			1.8
Divestiture-related costs (1)		.4			1.6			.7			–

Other expense, net	$	7.6		$	11.2		$	21.9		$	28.1

(1): Represents only the portion allocated to continuing operations.

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 28, 2013

FAIR VALUE MEASUREMENTS

Assets and liabilities carried at fair value, measured on a recurring basis

The following table provides the assets and liabilities carried at fair value, measured on a recurring basis, as of December 28, 2013:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Trading securities	$	17.7	$	7.6	$	10.1	$	–
Short-term investments		114.5		–		114.5		–
Derivative assets		3.2		.1		3.1		–
Liabilities
Derivative liabilities	$	4.7	$	–	$	4.7	$	–

The following table provides the assets and liabilities carried at fair value, measured on a recurring basis, as of December 29, 2012:

			Fair Value Measurements Using

(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets
Trading securities	$	18.6	$	9.3	$	9.3	$	–
Derivative assets		10.0		–		10.0		–
Liabilities
Derivative liabilities	$	3.8	$	1.0	$	2.8	$	–

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	12 Months Ended
	Dec. 28, 2013 USD ($) item	Dec. 29, 2012 USD ($)	Dec. 31, 2011 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of reportable segments \| item	2
Length of fiscal period	364 days	364 days	364 days
Cash paid for interest and income taxes
Interest, net of capitalized amounts	$ 64.1	$ 68.0	$ 65.0
Income taxes, net of refunds	129.4	97.7	70.5
Capital expenditure accrued but not paid	$ 11.5	$ 12.0	$ 9.5
Maximum
Summary Of Significant Accounting Policies
Percentage of ownership	20.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Inventories
Raw materials	$ 196.3	$ 184.5
Work-in-progress	149.0	139.2
Finished goods	148.8	149.6
Inventories, net	$ 494.1	$ 473.3
Accounts Receivable \| Customer concentration risk
Accounts Receivable
Concentration risk percentage	10.00%	10.00%
Accounts Receivable \| Customer concentration risk \| Ten largest customers
Accounts Receivable
Concentration risk percentage	14.00%
Net sales \| Customer concentration risk
Accounts Receivable
Concentration risk percentage	10.00%	10.00%
Net sales \| Customer concentration risk \| Ten largest customers
Accounts Receivable
Concentration risk percentage	12.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Property, Plant and Equipment
Property, plant and equipment	$ 2,702.8	$ 2,871.1
Accumulated depreciation	(1,780.3)	(1,855.6)
Property, plant and equipment, net	922.5	1,015.5	$ 1,079.4
Land
Property, Plant and Equipment
Property, plant and equipment	47.0	56.5
Buildings and improvements
Property, Plant and Equipment
Property, plant and equipment	$ 580.2	660.5
Buildings and improvements \| Minimum
Property, Plant and Equipment
Estimated useful lives	3 years
Buildings and improvements \| Maximum
Property, Plant and Equipment
Estimated useful lives	47 years
Machinery and equipment
Property, Plant and Equipment
Property, plant and equipment	$ 2,001.3	2,090.5
Machinery and equipment \| Minimum
Property, Plant and Equipment
Estimated useful lives	2 years
Machinery and equipment \| Maximum
Property, Plant and Equipment
Estimated useful lives	30 years
Construction-in-progress
Property, Plant and Equipment
Property, plant and equipment	$ 74.3	$ 63.6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Foreign Currency
Foreign currency translation adjustment	$ 7.9	$ 8.8	$ 4.4
Financial Instruments
Maximum length of time hedged in cash flow hedge	36 months
Research and Development
Research and development expense from continuing operations	$ 96.0	98.6	93.8
Product Warranty
Product warranty liability	1.3	0.5
Asset Retirement Obligations
Asset Retirement Obligations liability	5.4	11.9
Long-Term Incentive Compensation
Stock-based compensation cost capitalized	0.0	0.0	0.0
Marketing, general and administrative expense
Advertising Costs
Advertising costs from continuing operations	10.6	8.9	9.3
Total software
Capitalized software costs
Software amortization expense from continuing operations	35.3	30.7	$ 32.1
Total software \| Other assets
Capitalized software costs
Cost	427.9	388.4
Accumulated Amortization	(264.6)	(236.3)
Software, net	$ 163.3	$ 152.1
Total software \| Minimum
Capitalized software costs
Estimated useful life	2 years
Total software \| Maximum
Capitalized software costs
Estimated useful life	10 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Net income per common share amounts
Income from continuing operations	$ 44.7	$ 62.0	$ 70.8	$ 66.8	$ 28.0	$ 35.9	$ 49.1	$ 44.6	$ 244.3	$ 157.6	$ 141.7
(Loss) income from discontinued operations, net of tax									(28.5)	57.8	48.4
Net income	$ 42.7	$ 46.5	$ 68.8	$ 57.8	$ 49.0	$ 58.3	$ 64.2	$ 43.9	$ 215.8	$ 215.4	$ 190.1
Weighted-average number of common shares outstanding									98.4	102.6	105.8
Dilutive shares (additional common shares issuable under employee stock-based awards)									1.7	0.9	1.0
Weighted-average number of common shares outstanding, assuming dilution									100.1	103.5	106.8
Net income (loss) per common share:
Continuing operations (in dollars per share)	$ 0.46	$ 0.63	$ 0.71	$ 0.67	$ 0.28	$ 0.36	$ 0.47	$ 0.42	$ 2.48	$ 1.54	$ 1.34
Discontinued operations (in dollars per share)	(0.02)	(0.16)	(0.02)	(0.09)	0.21	0.22	0.15		(0.29)	0.56	0.46
Net income per common share (in dollars per share)	0.44	0.47	0.69	0.58	0.49	0.58	0.62	0.42	2.19	2.10	1.80
Net income (loss) per common share, assuming dilution:
Continuing operations (in dollars per share)	0.45	0.62	0.70	0.66	0.28	0.35	0.47	0.42	2.44	1.52	1.33
(Loss) income from discontinued operations, net of tax (in dollars per share)	(0.02)	(0.15)	(0.02)	(0.09)	0.20	0.22	0.15	(0.01)	(0.28)	0.56	0.45
Net income per common share, assuming dilution (in dollars per share)	$ 0.43	$ 0.47	$ 0.68	$ 0.57	$ 0.48	$ 0.57	$ 0.62	$ 0.41	$ 2.16	$ 2.08	$ 1.78
Stock-based compensation awards excluded from the computation of net income per common share, assuming dilution									7.0	12.0	11.0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period	$ (278.0)
Other comprehensive income (loss) before reclassifications, net of tax	(23.1)
Reclassifications to net income	20.0
Other comprehensive (loss), net of tax	(3.1)	$ (14.8)	$ (120.3)
Balance at end of the period	(281.1)	(278.0)
Net Gain (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period	(2.0)	(6.9)
Other comprehensive income (loss) before reclassifications, net of tax	0.8	(1.1)
Reclassifications to net income	0.2	(6.0)
Other comprehensive (loss), net of tax	1.0
Balance at end of the period	(1.0)	(2.0)	$ (6.9)
Net Actuarial Gain (Loss), Prior Service Cost and Net Transition Assets, Less Amortization
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period	(456.5)
Other comprehensive income (loss) before reclassifications, net of tax	29.4
Reclassifications to net income	9.0
Other comprehensive (loss), net of tax	38.4
Balance at end of the period	(418.1)	(456.5)
Foreign Currency Translation Adjustment
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period	180.5
Other comprehensive income (loss) before reclassifications, net of tax	(53.3)
Reclassifications to net income	10.8
Other comprehensive (loss), net of tax	(42.5)
Balance at end of the period	$ 138.0	$ 180.5

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 7) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Cash flow and firm commitment hedging instrument activities in other comprehensive loss, net of tax
Balance at beginning of the period	$ (278.0)
Reclassifications to net income, net of tax	(20.0)
Net change in the revaluation of hedging transactions	(23.1)
Balance at end of the period	(281.1)	$ (278.0)
Cash flow and firm commitment hedging instrument activities in other comprehensive income
Cash flow and firm commitment hedging instrument activities in other comprehensive loss, net of tax
Balance at beginning of the period	(2.0)	(6.9)
Reclassifications to net income, net of tax	(0.2)	6.0
Net change in the revaluation of hedging transactions	0.8	(1.1)
Balance at end of the period	$ (1.0)	$ (2.0)

- Definition

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 8) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold									$ (4,502.3)	$ (4,335.3)	$ (4,369.6)
Interest expense									(59.0)	(72.9)	(71.1)
Income from continuing operations before taxes									363.1	237.6	213.2
Benefit from income taxes									(118.8)	(80.0)	(71.5)
Income from continuing operations	$ 44.7	$ 62.0	$ 70.8	$ 66.8	$ 28.0	$ 35.9	$ 49.1	$ 44.6	244.3	157.6	141.7
Reclassifications to net income, net of tax									20.0
Income Loss From Discontinued Operations [Member] \| OCP and DES businesses
Amounts reclassified from Accumulated other comprehensive loss
Recognized gain on curtailment									2.7
Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Income from continuing operations									(16.2)
Net Gain or (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges
Amounts reclassified from Accumulated other comprehensive loss
Reclassifications to net income, net of tax									0.2	(6.0)
Net Gain or (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges \| Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Income from continuing operations before taxes									(0.7)
Benefit from income taxes									0.2
Income from continuing operations									(0.5)
Net Gain or (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges \| Amounts Reclassified from Accumulated other comprehensive loss \| Foreign exchange contracts
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold									0.6
Net Gain or (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges \| Amounts Reclassified from Accumulated other comprehensive loss \| Commodity contracts
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold									(1.2)
Net Gain or (Loss) on Derivative Instruments Designated as Cash Flow and Firm Commitment Hedges \| Amounts Reclassified from Accumulated other comprehensive loss \| Interest rate contracts
Amounts reclassified from Accumulated other comprehensive loss
Interest expense									(0.1)	$ (4.4)	$ (4.2)
Net Actuarial Gain or (Loss), Prior Service Cost and Transition Assets, Less Amortization
Amounts reclassified from Accumulated other comprehensive loss
Reclassifications to net income, net of tax									9.0
Net Actuarial Gain or (Loss), Prior Service Cost and Transition Assets, Less Amortization \| Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Amortization of defined benefit pension									(23.5)
Benefit from income taxes									7.8
Income from continuing operations									(15.7)
Net Actuarial Gain or (Loss), Prior Service Cost and Transition Assets, Less Amortization \| Amounts Reclassified from Accumulated other comprehensive loss \| Income Loss From Discontinued Operations [Member] \| U.S. \| OCP and DES businesses
Amounts reclassified from Accumulated other comprehensive loss
Recognized gain on curtailment									6.4
Foreign Currency Translation Adjustment
Amounts reclassified from Accumulated other comprehensive loss
Reclassifications to net income, net of tax									10.8
Foreign Currency Translation Adjustment \| Amounts Reclassified from Accumulated other comprehensive loss \| Income Loss From Discontinued Operations [Member] \| OCP and DES businesses
Amounts reclassified from Accumulated other comprehensive loss
Reclassifications to net income, net of tax									$ 10.8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 9) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Foreign currency translation adjustment		$ 0.9
Pension and other postretirement benefits:
Net actuarial gain (loss)	$ 26.4	(38.3)	$ (56.4)
Prior service (cost) credit	(7.5)		12.8
Reclassifications to net income:
Amortization of net actuarial loss	9.4	6.9	4.7
Amortization of prior service credit	(1.3)	(1.5)	(0.7)
Amortization of transition asset		(0.1)	(0.1)
Net curtailment on pension and post-retirement benefit obligations	(4.8)
Settlement on pension obligations	0.6	0.2
Derivative financial instruments:
Losses (gains) recognized on cash flow hedges	0.2	(0.7)	(1.1)
Reclassifications to net income	0.1	3.7	2.4
Income tax expense (benefit) related to items of other comprehensive income (loss)	$ 23.1	$ (28.9)	$ (38.4)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 10) $ in Millions	12 Months Ended
	Dec. 28, 2013 item	Dec. 29, 2012 USD ($)	Dec. 31, 2011 USD ($)
Transactions with Related Persons
Transactions with related persons \| item	0
Peter W. Mullin
Transactions with Related Persons
Insurance commissions earned by Prudential		$ 0.1	$ 0.1
Reinsurance gains of the third party		$ 0.3	$ 0.1

DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE (Details) - USD ($) $ in Millions			12 Months Ended
	Jul. 01, 2013	Jan. 29, 2013	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Discontinued Operations
Sales price per agreement, net of cash provided			$ 481.2
Office and Consumer Products \| 3M
Discontinued Operations
Cash sales price per agreement					$ 550.0
OCP and DES businesses \| Net sales
Discontinued Operations
Net sales from continuing operations to discontinued operations			$ 45.8	$ 100.0	$ 100.0
OCP and DES businesses \| CCL
Discontinued Operations
Cash sales price per agreement	$ 500.0
Maximum period of supply agreement		6 years
Sales price per agreement, net of cash provided	$ 481.2

DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Operating results of discontinued operations and loss on sale
(Loss) income from discontinued operations, net of tax	$ (28.5)	$ 57.8	$ 48.4
OCP and DES businesses
Operating results of discontinued operations and loss on sale
Net sales	380.4	912.3	956.2
(Loss) income before taxes, including divestiture-related and restructuring costs	(12.4)	86.4	84.6
Provision for income taxes	0.1	28.6	36.2
(Loss) income from discontinued operations, net of tax before loss on sale	(12.5)	57.8	48.4
Loss on sale, net of tax provision of $65.4	(16.0)
(Loss) income from discontinued operations, net of tax	(28.5)	$ 57.8	$ 48.4
Gain on sale, tax	$ 65.4

DISCONTINUED OPERATIONS, EXIT/SALE OF PRODUCT LINES, SALE OF ASSETS AND ASSETS HELD FOR SALE (Details 3) $ in Millions	1 Months Ended	3 Months Ended			12 Months Ended
	Apr. 30, 2013 USD ($)	Mar. 30, 2013 USD ($)	Sep. 29, 2012 USD ($)	Jun. 30, 2012 USD ($)	Dec. 28, 2013 USD ($)	Dec. 29, 2012 USD ($)	Dec. 31, 2011 USD ($) item
Exit costs
Proceeds from sale of product lines							$ 21.5
Number of product lines sold \| item							2
Gain on sale				$ 0.6		$ 0.6
Sale of Assets and Assets Held for Sale
Proceeds from sale of property, plant and equipment					$ 38.7	4.2	$ 4.6
Other expense, net
Exit costs
Gain on sale							5.6
OCP and DES businesses
Assets
Trade accounts receivable, net						119.0
Inventories, net						57.2
Other current assets						7.7
Total current assets						183.9
Property, plant and equipment, net						79.5
Goodwill						167.9
Other intangibles resulting from business acquisitions, net						32.5
Other assets						8.4
Total Assets						472.2
Liabilities
Accounts payable						31.2
Accrued payroll and employee benefits						21.2
Other accrued liabilities						91.9
Total current liabilities						144.3
Non-current liabilities						16.2
Total Liabilities						160.5
Pasadena, California corporate headquarters
Exit costs
Gain on sale	$ 10.9
Sale of Assets and Assets Held for Sale
Sale price of property and equipment classified as held for sale		$ 20.0
Initial term of lease		9 months
Other properties and assets held for sale
Sale of Assets and Assets Held for Sale
Assets Held-for-sale, Property, Plant and Equipment					1.3
Product line from performance films business
Exit costs
Proceeds from sale of product lines							21.0
Gain on sale							5.6
Other specialty converting businesses \| Other expense, net
Exit costs
Exit costs incurred			$ 3.9
Product line from label and packaging materials business
Exit costs
Proceeds from sale of product lines						$ 0.8	$ 0.5
Property, plant and equipment in China
Sale of Assets and Assets Held for Sale
Proceeds from sale of property, plant and equipment					11.0
Research facility located in Pasadena, California
Sale of Assets and Assets Held for Sale
Proceeds from sale of property, plant and equipment					$ 5.0

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS
Impairment of goodwill and indefinite-lived intangible assets		$ 0
Changes in net carrying amount of goodwill
Goodwill, Beginning Balance		764,400,000	$ 759,300,000
Divestiture		(3,500,000)
Acquisition adjustments		(200,000)
Foreign currency translation adjustments		(9,600,000)	5,100,000
Goodwill, Ending Balance	$ 764,400,000	751,100,000	764,400,000
Non-cash impairment charge	7,000,000		7,000,000
Indefinite-lived intangible assets, carrying value	11,100,000	10,900,000	11,100,000
Pressure-sensitive Materials
Changes in net carrying amount of goodwill
Goodwill, Beginning Balance		338,300,000	336,700,000
Foreign currency translation adjustments		(3,900,000)	1,600,000
Goodwill, Ending Balance	338,300,000	334,400,000	338,300,000
Retail Branding and Information Solutions
Changes in net carrying amount of goodwill
Goodwill, Beginning Balance		422,600,000	419,100,000
Acquisition adjustments		(200,000)
Foreign currency translation adjustments		(5,700,000)	3,500,000
Goodwill, Ending Balance	422,600,000	416,700,000	422,600,000
Accumulated impairment losses	820,000,000	820,000,000	820,000,000
Other specialty converting businesses
Changes in net carrying amount of goodwill
Goodwill, Beginning Balance		3,500,000	3,500,000
Divestiture		$ (3,500,000)
Goodwill, Ending Balance	$ 3,500,000		$ 3,500,000

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Acquired intangibles
Finite-Lived Intangible Assets
Gross Carrying Amount	$ 321.6	$ 321.8
Accumulated Amortization	236.5	207.9
Net Carrying Amount	85.1	113.9
Amortization expense on finite lived intangible assets from business acquisition	28.5	29.9	$ 30.3
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	234.1	234.7
Accumulated Amortization	164.6	142.3
Net Carrying Amount	69.5	92.4
Patents and other acquired technology
Finite-Lived Intangible Assets
Gross Carrying Amount	48.9	49.0
Accumulated Amortization	38.3	34.0
Net Carrying Amount	10.6	15.0
Trade names and trademarks
Finite-Lived Intangible Assets
Gross Carrying Amount	26.2	25.7
Accumulated Amortization	22.5	21.9
Net Carrying Amount	3.7	3.8
Other intangibles
Finite-Lived Intangible Assets
Gross Carrying Amount	12.4	12.4
Accumulated Amortization	11.1	9.7
Net Carrying Amount	$ 1.3	$ 2.7

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS (Details 3) $ in Millions	12 Months Ended
	Dec. 28, 2013 USD ($)
Future amortization expense for finite lived intangible assets
2014	$ 24.3
2015	20.9
2016	19.5
2017	10.0
2018	$ 2.5
Customer relationships
Weighted-average Amortization Periods and Remaining Useful Lives
Weighted-average Amortization Periods from the Date of Acquisition	11 years
Weighted-Average Remaining Useful Life	3 years
Patents and other acquired technology
Weighted-average Amortization Periods and Remaining Useful Lives
Weighted-average Amortization Periods from the Date of Acquisition	13 years
Weighted-Average Remaining Useful Life	3 years
Trade names and trademarks
Weighted-average Amortization Periods and Remaining Useful Lives
Weighted-average Amortization Periods from the Date of Acquisition	12 years
Weighted-Average Remaining Useful Life	6 years
Other Intangibles
Weighted-average Amortization Periods and Remaining Useful Lives
Weighted-average Amortization Periods from the Date of Acquisition	6 years
Weighted-Average Remaining Useful Life	1 year

DEBT AND CAPITAL LEASES (Details) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012
Short Term Borrowings From Commercial Paper
Short-term debt
Short term variable rate borrowings from commercial paper	$ 0.0	$ 187.0
Weighted average interest rate	0.40%	0.40%
Uncommitted lines of credit
Short-term debt
Weighted average interest rate	11.20%	11.20%
Uncommitted lines of credit	$ 371.0	$ 411.0
Short term borrowings outstanding	$ 73.9	$ 81.1

DEBT AND CAPITAL LEASES (Details 2) - USD ($) $ in Millions	12 Months Ended
DEBT AND CAPITAL LEASES (Details 2) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Revolving credit facility
Loss from debt extinguishments			$ 0.7
Revolving Credit Facility
Revolving credit facility
Maximum borrowing capacity			$ 675.0
Extension in maturity date			1 year
Commitment for increased borrowing			$ 250.0
Amount outstanding	$ 0.0	$ 0.0
Commitment fees	$ 1.4	$ 1.4	2.5
Previous revolving credit facility
Revolving credit facility
Maximum borrowing capacity			1,000.0
Previous revolving credit facility \| Other expense, net
Revolving credit facility
Loss from debt extinguishments			$ 0.7

DEBT AND CAPITAL LEASES (Details 3) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012
Long-term debt and capital leases
Capital leases obligations	$ 3.0	$ 4.8
Less amount classified as current	(1.6)	(251.9)
Total long-term debt and capital leases	950.6	702.2
Series 1995 due 2015 through 2025
Long-term debt and capital leases
Senior notes	$ 50.0	50.0
Weighted Average Interest Rate	7.50%
Senior notes due 2013 at 4.9%
Long-term debt and capital leases
Senior notes		$ 250.0
Weighted Average Interest Rate		4.90%
Senior notes due 2017 at 6.6%
Long-term debt and capital leases
Senior notes	$ 249.6	$ 249.4
Weighted Average Interest Rate	6.60%
Senior notes due 2020 at 5.4%
Long-term debt and capital leases
Senior notes	$ 249.9	249.9
Weighted Average Interest Rate	5.40%
Senior notes due 2023 at 3.4%
Long-term debt and capital leases
Senior notes	$ 249.7
Weighted Average Interest Rate	3.40%
Senior notes due 2033 at 6.0%
Long-term debt and capital leases
Senior notes	$ 150.0	$ 150.0
Weighted Average Interest Rate	6.00%

DEBT AND CAPITAL LEASES (Details 4) $ in Millions	Dec. 28, 2013 USD ($)
Long-term debt and capital leases
2014 (classified as current)	$ 1.6
2015	5.7
2016	0.2
2017	249.7
2018	0.2
2019 and thereafter	$ 694.8

DEBT AND CAPITAL LEASES (Details 5) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
DEBT AND CAPITAL LEASES (Details 5) - USD ($) $ in Millions	Apr. 30, 2013	Jan. 31, 2013	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Long Term Debt
Interest costs			$ 62.3	$ 76.2	$ 75.9
Interest costs capitalized			3.3	3.3	$ 4.8
Fair value of debt			$ 1,060.0	$ 1,310.0
Senior notes due April 2023 at 3.35%
Long Term Debt
Senior notes issued	$ 250.0
Interest rate of senior notes	3.35%
Proceeds, net of underwriting discounts and offering expenses	$ 247.5
Senior notes due 2013
Long Term Debt
Repayments of debt		$ 250.0

FINANCIAL INSTRUMENTS (Details) - Cash Flow Hedging $ in Millions	12 Months Ended
	Dec. 28, 2013 USD ($)
Financial Instruments
Cash Flow Hedge gain to be Reclassified within Twelve Months	$ 0.3
Foreign exchange contracts
Financial Instruments
Notional amount	1,900.0
Commodity contracts
Financial Instruments
Notional amount	$ 4.4

FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012
Derivatives, Fair Value
Asset	$ 3.2	$ 10.0
Liability	4.7	3.8
Foreign exchange contracts \| Other current assets
Derivatives, Fair Value
Asset	3.1	10.0
Foreign exchange contracts \| Other accrued liabilities
Derivatives, Fair Value
Liability	4.7	2.8
Commodity contracts
Derivatives, Fair Value
Asset	$ 0.1
Commodity contracts \| Other accrued liabilities
Derivatives, Fair Value
Liability		0.9
Commodity contracts \| Long-term retirement benefits and other liabilities
Derivatives, Fair Value
Liability		$ 0.1

FINANCIAL INSTRUMENTS (Details 3) - USD ($) $ in Millions	12 Months Ended
FINANCIAL INSTRUMENTS (Details 3) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Fair Value Hedges
Gain (loss) in income	$ (33.6)	$ 17.8	$ (12.5)
Foreign exchange contracts \| Cost of products sold
Fair Value Hedges
Gain (loss) in income	2.3		0.5
Foreign exchange contracts \| Marketing, general and administrative expense
Fair Value Hedges
Gain (loss) in income	$ (35.9)	$ 17.8	$ (13.0)

FINANCIAL INSTRUMENTS (Details 4) - Cash Flow Hedging - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Derivative Instruments, Gain (Loss)
Gains (loss) recognized in accumulated other comprehensive loss on derivatives	$ 1.0	$ (1.8)	$ (3.0)
Foreign exchange contracts
Derivative Instruments, Gain (Loss)
Gains (loss) recognized in accumulated other comprehensive loss on derivatives	1.1	(0.9)	0.3
Commodity contracts
Derivative Instruments, Gain (Loss)
Gains (loss) recognized in accumulated other comprehensive loss on derivatives	$ (0.1)	$ (0.9)	$ (3.3)

FINANCIAL INSTRUMENTS (Details 5) - USD ($) $ in Millions	12 Months Ended
FINANCIAL INSTRUMENTS (Details 5) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Derivative Instruments, Gain (Loss)
Gain (Loss) reclassified to interest expense	$ (59.0)	$ (72.9)	$ (71.1)
Cash flow hedge contracts \| Amounts Reclassified from Accumulated other comprehensive loss
Derivative Instruments, Gain (Loss)
Gain (Loss) reclassified from accumulated other comprehensive loss	(0.7)	(9.7)	(6.2)
Foreign exchange contracts \| Cash flow hedge contracts \| Amounts Reclassified from Accumulated other comprehensive loss
Derivative Instruments, Gain (Loss)
Gain (Loss) reclassified to cost of products sold	0.6	(2.5)	0.9
Commodity contracts \| Cash flow hedge contracts \| Amounts Reclassified from Accumulated other comprehensive loss
Derivative Instruments, Gain (Loss)
Gain (Loss) reclassified to cost of products sold	(1.2)	(2.8)	(2.9)
Interest rate contracts \| Cash flow hedge contracts \| Amounts Reclassified from Accumulated other comprehensive loss
Derivative Instruments, Gain (Loss)
Gain (Loss) reclassified to interest expense	$ (0.1)	$ (4.4)	$ (4.2)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 28, 2013 USD ($)	Dec. 28, 2013 USD ($) item	Dec. 29, 2012 USD ($)
Pooled funds - Alternative investments
Defined Benefit Plans
Pooled funds Valuation lag period		1 month
Notice period after lock up period		65 days
U.S.
Defined Benefit Plans
Estimated actuarial loss		$ 59.8	$ (131.5)
Number of sub-portfolios in which assets are invested \| item		2
U.S. \| Growth portfolio
Defined Benefit Plans
Target assets allocation (as a percent)		51.00%
U.S. \| Liability hedging portfolio
Defined Benefit Plans
Target assets allocation (as a percent)		49.00%
Int'l
Defined Benefit Plans
Estimated actuarial loss		$ (8.5)	$ (50.5)
Int'l \| Equity Securities
Defined Benefit Plans
Target assets allocation (as a percent)		37.00%
Int'l \| Fixed income securities and cash
Defined Benefit Plans
Target assets allocation (as a percent)		48.00%
Int'l \| Insurance contracts and Other investments
Defined Benefit Plans
Target assets allocation (as a percent)		15.00%
SHARE Plan
Defined Benefit Plans
Estimated actuarial loss	$ (21.0)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 2) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
U.S.
Defined Benefit Plans
Total plan assets	$ 747.4	$ 648.5	$ 551.2
U.S. \| Total
Defined Benefit Plans
Total plan assets at fair value	747.2	648.3
Other assets (payables)	0.2	0.2
Total plan assets	747.4	648.5
U.S. \| Total \| Cash
Defined Benefit Plans
Total plan assets at fair value	15.8	8.0
U.S. \| Total \| Liability hedging portfolio
Defined Benefit Plans
Total plan assets at fair value	333.1	216.1
U.S. \| Total \| Pooled funds - Corporate debt/agencies
Defined Benefit Plans
Total plan assets at fair value	332.7	216.1
U.S. \| Total \| Pooled funds - U.S. bonds, other fixed income
Defined Benefit Plans
Total plan assets at fair value	0.4
U.S. \| Total \| Growth portfolio
Defined Benefit Plans
Total plan assets at fair value	398.3	424.2
U.S. \| Total \| Pooled funds - Global equities
Defined Benefit Plans
Total plan assets at fair value	60.0	65.2
U.S. \| Total \| Pooled funds - Global real estate investment trusts
Defined Benefit Plans
Total plan assets at fair value	45.8	43.3
U.S. \| Total \| Pooled funds - International
Defined Benefit Plans
Total plan assets at fair value	86.6	97.5
U.S. \| Total \| Pooled funds - U.S. equities
Defined Benefit Plans
Total plan assets at fair value	89.5	154.5
U.S. \| Total \| Pooled funds - Alternative investments
Defined Benefit Plans
Total plan assets at fair value	51.2
U.S. \| Total \| Pooled funds - High yield bonds
Defined Benefit Plans
Total plan assets at fair value	65.2	63.7
U.S. \| Quoted Prices in Active Markets (Level 1)
Defined Benefit Plans
Total plan assets at fair value	15.8	8.0
U.S. \| Quoted Prices in Active Markets (Level 1) \| Cash
Defined Benefit Plans
Total plan assets at fair value	15.8	8.0
U.S. \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plans
Total plan assets at fair value	680.2	640.3
U.S. \| Significant Other Observable Inputs (Level 2) \| Liability hedging portfolio
Defined Benefit Plans
Total plan assets at fair value	333.1	216.1
U.S. \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Corporate debt/agencies
Defined Benefit Plans
Total plan assets at fair value	332.7	216.1
U.S. \| Significant Other Observable Inputs (Level 2) \| Pooled funds - U.S. bonds, other fixed income
Defined Benefit Plans
Total plan assets at fair value	0.4
U.S. \| Significant Other Observable Inputs (Level 2) \| Growth portfolio
Defined Benefit Plans
Total plan assets at fair value	347.1	424.2
U.S. \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Global equities
Defined Benefit Plans
Total plan assets at fair value	60.0	65.2
U.S. \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Global real estate investment trusts
Defined Benefit Plans
Total plan assets at fair value	45.8	43.3
U.S. \| Significant Other Observable Inputs (Level 2) \| Pooled funds - International
Defined Benefit Plans
Total plan assets at fair value	86.6	97.5
U.S. \| Significant Other Observable Inputs (Level 2) \| Pooled funds - U.S. equities
Defined Benefit Plans
Total plan assets at fair value	89.5	154.5
U.S. \| Significant Other Observable Inputs (Level 2) \| Pooled funds - High yield bonds
Defined Benefit Plans
Total plan assets at fair value	65.2	63.7
U.S. \| Level 3
Defined Benefit Plans
Total plan assets at fair value	51.2
U.S. \| Level 3 \| Growth portfolio
Defined Benefit Plans
Total plan assets at fair value	51.2
U.S. \| Level 3 \| Pooled funds - Alternative investments
Defined Benefit Plans
Total plan assets at fair value	51.2
Int'l
Defined Benefit Plans
Total plan assets	566.6	515.0	$ 441.3
Int'l \| Total
Defined Benefit Plans
Total plan assets at fair value	566.1	514.6
Other assets (payables)	0.5	0.4
Total plan assets	566.6	515.0
Int'l \| Total \| Cash
Defined Benefit Plans
Total plan assets at fair value	4.7	6.2
Int'l \| Total \| Fixed Income Securities
Defined Benefit Plans
Total plan assets at fair value	266.9	248.3
Int'l \| Total \| Mutual Funds
Defined Benefit Plans
Total plan assets at fair value	0.3	0.3
Int'l \| Total \| Pooled funds - Emerging markets bonds
Defined Benefit Plans
Total plan assets at fair value	6.2
Int'l \| Total \| Pooled funds - European bonds
Defined Benefit Plans
Total plan assets at fair value	193.8	239.0
Int'l \| Total \| Pooled funds - U.K. bonds
Defined Benefit Plans
Total plan assets at fair value	56.6
Int'l \| Total \| Pooled funds - Global bonds
Defined Benefit Plans
Total plan assets at fair value	3.3	9.0
Int'l \| Total \| Pooled funds - High yield bonds
Defined Benefit Plans
Total plan assets at fair value	6.7
Int'l \| Total \| Equity Securities
Defined Benefit Plans
Total plan assets at fair value	218.2	198.5
Int'l \| Total \| Pooled funds - Emerging markets
Defined Benefit Plans
Total plan assets at fair value	20.9	18.5
Int'l \| Total \| Pooled funds - U.K.
Defined Benefit Plans
Total plan assets at fair value	17.2
Int'l \| Total \| Pooled funds - European region
Defined Benefit Plans
Total plan assets at fair value		46.3
Int'l \| Total \| Pooled funds - Global
Defined Benefit Plans
Total plan assets at fair value	151.3	81.5
Int'l \| Total \| Pooled funds - Real estate investment trusts
Defined Benefit Plans
Total plan assets at fair value	28.8	28.9
Int'l \| Total \| Pooled funds - U.S.
Defined Benefit Plans
Total plan assets at fair value		10.6
Int'l \| Total \| Pooled funds - Asia Pacific region
Defined Benefit Plans
Total plan assets at fair value		12.7
Int'l \| Total \| Other investments
Defined Benefit Plans
Total plan assets at fair value	76.3	61.6
Int'l \| Total \| Pooled funds - Commodities
Defined Benefit Plans
Total plan assets at fair value	9.5
Int'l \| Total \| Pooled funds - Real estate
Defined Benefit Plans
Total plan assets at fair value	7.7
Int'l \| Total \| Pooled funds - Other
Defined Benefit Plans
Total plan assets at fair value	31.7	33.8
Int'l \| Total \| Insurance contracts
Defined Benefit Plans
Total plan assets at fair value	27.4	27.8
Int'l \| Quoted Prices in Active Markets (Level 1)
Defined Benefit Plans
Total plan assets at fair value	5.0	6.5
Int'l \| Quoted Prices in Active Markets (Level 1) \| Cash
Defined Benefit Plans
Total plan assets at fair value	4.7	6.2
Int'l \| Quoted Prices in Active Markets (Level 1) \| Fixed Income Securities
Defined Benefit Plans
Total plan assets at fair value	0.3	0.3
Int'l \| Quoted Prices in Active Markets (Level 1) \| Mutual Funds
Defined Benefit Plans
Total plan assets at fair value	0.3	0.3
Int'l \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plans
Total plan assets at fair value	533.7	480.3
Int'l \| Significant Other Observable Inputs (Level 2) \| Fixed Income Securities
Defined Benefit Plans
Total plan assets at fair value	266.6	248.0
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Emerging markets bonds
Defined Benefit Plans
Total plan assets at fair value	6.2
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - European bonds
Defined Benefit Plans
Total plan assets at fair value	193.8	239.0
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - U.K. bonds
Defined Benefit Plans
Total plan assets at fair value	56.6
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Global bonds
Defined Benefit Plans
Total plan assets at fair value	3.3	9.0
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - High yield bonds
Defined Benefit Plans
Total plan assets at fair value	6.7
Int'l \| Significant Other Observable Inputs (Level 2) \| Equity Securities
Defined Benefit Plans
Total plan assets at fair value	218.2	198.5
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Emerging markets
Defined Benefit Plans
Total plan assets at fair value	20.9	18.5
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - U.K.
Defined Benefit Plans
Total plan assets at fair value	17.2
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - European region
Defined Benefit Plans
Total plan assets at fair value		46.3
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Global
Defined Benefit Plans
Total plan assets at fair value	151.3	81.5
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Real estate investment trusts
Defined Benefit Plans
Total plan assets at fair value	28.8	28.9
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - U.S.
Defined Benefit Plans
Total plan assets at fair value		10.6
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Asia Pacific region
Defined Benefit Plans
Total plan assets at fair value		12.7
Int'l \| Significant Other Observable Inputs (Level 2) \| Other investments
Defined Benefit Plans
Total plan assets at fair value	48.9	33.8
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Commodities
Defined Benefit Plans
Total plan assets at fair value	9.5
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Real estate
Defined Benefit Plans
Total plan assets at fair value	7.7
Int'l \| Significant Other Observable Inputs (Level 2) \| Pooled funds - Other
Defined Benefit Plans
Total plan assets at fair value	31.7	33.8
Int'l \| Level 3
Defined Benefit Plans
Total plan assets at fair value	27.4	27.8
Int'l \| Level 3 \| Other investments
Defined Benefit Plans
Total plan assets at fair value	27.4	27.8
Int'l \| Level 3 \| Insurance contracts
Defined Benefit Plans
Total plan assets at fair value	$ 27.4	$ 27.8

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Int'l
Reconciliation of Level 3 assets
Impact of changes in foreign currency exchange rates	$ 16.9	$ 9.8
Level 3 \| U.S. \| Pooled Funds - Alternative Investments
Reconciliation of Level 3 assets
Net realized and unrealized gain	1.2
Purchases	50.0
Balance at the end of the period	51.2
Level 3 \| Int'l \| Insurance contracts
Reconciliation of Level 3 assets
Balance at the beginning of the period	27.8	26.5
Net realized and unrealized gain	0.8	0.5
Purchases	2.4	2.0
Settlements	(6.7)	(1.7)
Transfers	2.3
Impact of changes in foreign currency exchange rates	0.8	0.5
Balance at the end of the period	$ 27.4	$ 27.8

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 4) $ in Thousands	12 Months Ended
	Dec. 28, 2013 USD ($)
Defined Benefit Plans
Healthcare cost trend rate assumed for 2014 (as a percent)	7.00%
Healthcare cost trend rate by 2018 (as a percent)	5.00%
One-percentage-point change in assumed health care cost trend rates
Effect of one-percentage-point increase on total of service and interest cost components	$ 10
Effect of one-percentage-point decrease on total of service and interest cost components	(10)
Effect of one-percentage-point increase on postretirement benefit obligations	300
Effect of one-percentage-point decrease on postretirement benefit obligations	$ (300)
Postretirement Health Benefits
Defined Benefit Plans
Maximum age for which postretirement benefits are provided	65 years
Minimum age for which supplemental Medicare benefits are provided	65 years

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 5) $ in Millions	12 Months Ended
	Dec. 28, 2013 USD ($)	Dec. 29, 2012 USD ($)
Out-of-period adjustment
Change in projected benefit obligations
Actuarial (gain) loss	$ (15.0)
U.S.
Change in projected benefit obligations
Projected benefit obligations at beginning of year	963.7	$ 835.8
Service cost	0.4	0.3
Interest cost	39.7	40.3
Amendments	19.9
Actuarial (gain) loss	(59.8)	131.5
Plan transfer	5.7	2.0
Benefits paid	(45.4)	(46.2)
Curtailments	9.5
Projected benefit obligations at end of year	933.7	963.7
Accumulated benefit obligations at end of year	933.7	961.4
Int'l
Change in projected benefit obligations
Projected benefit obligations at beginning of year	597.6	519.5
Service cost	13.0	9.0
Interest cost	23.3	24.5
Participant contribution	4.1	4.1
Actuarial (gain) loss	8.5	50.5
Plan transfer	7.1	0.1
Benefits paid	(21.2)	(22.3)
Curtailments	(1.7)
Settlements	(6.0)
Foreign currency translation	18.1	12.2
Projected benefit obligations at end of year	642.8	597.6
Accumulated benefit obligations at end of year	601.7	559.0
U.S. Postretirement Health Benefits
Change in projected benefit obligations
Projected benefit obligations at beginning of year	12.0	12.4
Interest cost	0.3	0.4
Participant contribution	1.2	1.2
Actuarial (gain) loss	(0.5)	1.7
Benefits paid	(3.5)	(3.7)
Curtailments	(0.4)
Projected benefit obligations at end of year	$ 9.1	$ 12.0

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 6) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
U.S.
Change in plan assets
Plan assets at the beginning of the period	$ 648.5	$ 551.2
Actual return on plan assets	61.8	83.9
Plan transfer	5.7	2.0
Employer contributions	76.8	57.6
Benefits paid	(45.4)	(46.2)
Plan assets at the end of the period	747.4	648.5
Int'l
Change in plan assets
Plan assets at the beginning of the period	515.0	441.3
Actual return on plan assets	26.6	62.7
Plan transfer	2.3
Employer contributions	28.9	19.4
Participant contributions	4.1	4.1
Benefits paid	(21.2)	(22.3)
Settlements	(6.0)
Foreign currency translation	16.9	9.8
Plan assets at the end of the period	566.6	515.0
U.S. Postretirement Health Benefits
Change in plan assets
Employer contributions	2.3	2.5
Participant contributions	1.2	1.2
Benefits paid	$ (3.5)	$ (3.7)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 7) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
U.S. and international plans
Pension plans with projected benefit obligations in excess of plan assets
Projected benefit obligation in excess of plan assets	$ 1,250.0	$ 1,270.0
Fair value of plan assets in excess of plan assets	953.7	829.2
Pension plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligations	1,220.0	1,240.0
Fair value of plan assets	938.6	816.5
U.S.
Funded status of the plans
Other accrued liabilities	(3.6)	(3.9)
Long-term retirement benefits and other liabilities	(182.7)	(311.3)
Plan assets less than benefit obligations	$ (186.3)	$ (315.2)
Weighted-average assumptions used for determining year-end obligations
Discount rate (as a percent)	4.85%	4.00%	4.75%
Int'l
Funded status of the plans
Other assets	$ 35.4	$ 38.3
Other accrued liabilities	(2.7)	(2.1)
Long-term retirement benefits and other liabilities	(108.9)	(118.9)
Plan assets less than benefit obligations	$ (76.2)	$ (82.7)
Weighted-average assumptions used for determining year-end obligations
Discount rate (as a percent)	3.88%	3.94%	4.80%
Rate of increase in future compensation levels (as a percent)	2.24%	2.24%	2.79%
U.S. Postretirement Health Benefits
Funded status of the plans
Other accrued liabilities	$ (2.2)	$ (2.7)
Long-term retirement benefits and other liabilities	(6.9)	(9.3)
Plan assets less than benefit obligations	$ (9.1)	$ (12.0)
Weighted-average assumptions used for determining year-end obligations
Discount rate (as a percent)	3.45%	2.85%	3.75%

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 8) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012
U.S.
Pretax amounts, including that of discontinued operations, recognized in accumulated other comprehensive loss
Net actuarial loss	$ 466.9	$ 558.8
Prior service cost (credit)	21.0	1.5
Net amount recognized in accumulated other comprehensive loss (income)	487.9	560.3
Int'l
Pretax amounts, including that of discontinued operations, recognized in accumulated other comprehensive loss
Net actuarial loss	129.5	131.4
Prior service cost (credit)	2.5	2.9
Net transition obligation	0.5	0.4
Net amount recognized in accumulated other comprehensive loss (income)	132.5	134.7
U.S. Postretirement Health Benefits
Pretax amounts, including that of discontinued operations, recognized in accumulated other comprehensive loss
Net actuarial loss	26.6	29.9
Prior service cost (credit)	(26.2)	(43.3)
Net amount recognized in accumulated other comprehensive loss (income)	$ 0.4	$ (13.4)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 9) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
U.S.
Defined Benefit Plans
Net actuarial (gain) loss	$ (73.4)	$ 93.5	$ 133.6
Prior service cost (credit)	19.9
Amortization of net actuarial loss and prior service cost (credit)	(18.9)	(15.3)	(8.9)
Net amount recognized in other comprehensive (income) loss	(72.4)	78.2	124.7
Int'l
Defined Benefit Plans
Net actuarial (gain) loss	6.1	16.4	18.1
Amortization of net actuarial loss and prior service cost (credit)	(8.3)	(3.3)	(3.8)
Net amount recognized in other comprehensive (income) loss	(2.2)	13.1	14.3
U.S. Postretirement Health Benefits
Defined Benefit Plans
Net actuarial (gain) loss	(0.9)	1.7	7.0
Prior service cost (credit)			(34.1)
Amortization of net actuarial loss and prior service cost (credit)	14.7	2.1	0.6
Net amount recognized in other comprehensive (income) loss	$ 13.8	$ 3.8	$ (26.5)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 10) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 28, 2013	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Components of net periodic benefit cost:
Recognized gain on curtailment	$ (1.6)	$ (1.6)
Other expense, net
Components of net periodic benefit cost:
Recognized gain on curtailment				$ (0.2)
OCP and DES businesses \| (Loss) from discontinued operations, net of tax
Components of net periodic benefit cost:
Amount of curtailment and settlement losses		2.7
U.S.
Components of net periodic benefit cost:
Service cost		0.4	$ 0.3
Interest cost		39.7	40.3
U.S. \| Continuing operations
Components of net periodic benefit cost:
Service cost		0.4	0.3	0.3
Interest cost		39.7	40.3	40.2
Expected return on plan assets		(48.1)	(45.9)	(45.7)
Recognized actuarial loss		17.7	14.3	8.5
Amortization of net actuarial loss and prior service cost (credit)		0.3	0.4	0.4
Recognized loss (gain) on settlement			0.6
Net periodic benefit cost (credit)		10.0	10.0	3.7
Int'l
Components of net periodic benefit cost:
Service cost		13.0	9.0
Interest cost		23.3	24.5
Int'l \| Continuing operations
Components of net periodic benefit cost:
Service cost		13.0	9.1	10.5
Interest cost		23.3	24.5	26.3
Expected return on plan assets		(22.6)	(22.1)	(24.9)
Recognized actuarial loss		6.3	3.1	4.0
Amortization of net actuarial loss and prior service cost (credit)		0.5	0.4	0.4
Amortization of transition asset		(0.1)	(0.5)	(0.5)
Recognized gain on curtailment		(1.5)		(0.2)
Recognized loss (gain) on settlement		0.5		(0.1)
Net periodic benefit cost (credit)		19.4	14.5	15.5
U.S. Postretirement Health Benefits
Components of net periodic benefit cost:
Interest cost		0.3	0.4
U.S. Postretirement Health Benefits \| OCP and DES businesses
Components of net periodic benefit cost:
Recognized gain on curtailment		(13.1)
U.S. Postretirement Health Benefits \| Continuing operations
Components of net periodic benefit cost:
Service cost				1.3
Interest cost		0.3	0.5	1.7
Recognized actuarial loss		2.5	2.7	1.9
Amortization of net actuarial loss and prior service cost (credit)		(4.1)	(4.8)	(2.5)
Net periodic benefit cost (credit)		(1.3)	$ (1.6)	$ 2.4
Pension plan \| OCP and DES businesses
Components of net periodic benefit cost:
Amount of curtailment and settlement losses		$ (10.4)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 11) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
U.S. and international plans
Weighted-average assumptions used for determining net periodic cost
Company's contribution to the defined benefit plan in the next fiscal year	$ 21
U.S.
Weighted-average assumptions used for determining net periodic cost
Discount rate (as a percent)	4.00%	4.75%	5.50%
Expected long-term rate of return on plan assets (as a percent)	8.00%	8.00%	8.00%
Company's contribution to the defined benefit plan in the next fiscal year	$ 4
Int'l
Weighted-average assumptions used for determining net periodic cost
Discount rate (as a percent)	3.94%	4.80%	5.24%
Expected long-term rate of return on plan assets (as a percent)	4.78%	4.95%	5.48%
Rate of increase in future compensation levels (as a percent)	2.24%	2.79%	2.95%
Company's contribution to the defined benefit plan in the next fiscal year	$ 17
U.S. Postretirement Health Benefits
Weighted-average assumptions used for determining net periodic cost
Discount rate (as a percent)	2.85%	3.75%	5.25%
Company's contribution to the defined benefit plan in the next fiscal year	$ 2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 12) $ in Millions	Dec. 28, 2013 USD ($)
U.S.
Future Benefit Payments
2014	$ 48.4
2015	49.6
2016	51.0
2017	53.2
2018	70.1
2019 - 2023	289.9
Int'l
Future Benefit Payments
2014	20.7
2015	21.0
2016	22.6
2017	22.9
2018	23.8
2019 - 2023	138.7
U.S. Postretirement Health Benefits
Future Benefit Payments
2014	2.3
2015	1.7
2016	1.1
2017	0.9
2018	0.6
2019 - 2023	$ 2.0

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 13) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Defined contribution and other retirement plans
Recognized defined contribution plan cost	$ 21,000	$ 19,800	$ 19,300
Deferred compensation plan accrued	128,600	128,300
Letters of credit securing deferred compensation plan obligations	3,000	16,000
Deferred compensation (expense) gain	$ 5,900	7,100	$ (4,100)
Minimum age of participant for termination of employment to determine forfeiture of interest on contribution	55 years
DSUs outstanding under directors deferred equity compensation plan for non-employee directors	0.1
Value of DSUs outstanding under directors deferred equity compensation plan for non-employee directors	$ 5,500	3,100
U.S.
Defined contribution and other retirement plans
Net actuarial loss	15,700
Prior service cost (credit)	1,200
Net amount to be recognized	16,900
Int'l
Defined contribution and other retirement plans
Net actuarial loss	5,300
Prior service cost (credit)	400
Net transition asset	100
Net amount to be recognized	5,800
U.S. Postretirement Health Benefits
Defined contribution and other retirement plans
Net actuarial loss	2,700
Prior service cost (credit)	(3,300)
Net amount to be recognized	(600)
Other assets
Defined contribution and other retirement plans
Cash surrender value included in other assets	$ 204,600	$ 187,400

COMMITMENTS (Details) - USD ($) $ in Millions	12 Months Ended
COMMITMENTS (Details) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Minimum annual rental commitments on operating leases
2014	$ 52.2
2015	41.9
2016	30.2
2017	17.2
2018	12.2
2019 and thereafter	53.1
Total minimum lease payments	206.8
Rent expense for operating leases from continuing operations	$ 70.0	$ 75.0	$ 84.0

COMMITMENTS (Details 2) - Mentor lease facility - USD ($) $ in Millions	Sep. 09, 2005	Dec. 28, 2013
Guarantor Obligations
Term of lease financing for commercial facility	10 years
Residual value guarantee	$ 31.5
Refinancing of lessor debt	$ 11.5
Long-term retirement benefits and other liabilities
Guarantor Obligations
Aggregate amount of lease commitment		$ 19.0

CONTINGENCIES (Details) $ in Millions	12 Months Ended
CONTINGENCIES (Details) $ in Millions	Dec. 28, 2013 USD ($) item	Dec. 29, 2012 USD ($)
Cost of Environmental Liabilities Associated with Remediation
Balance at beginning of year	$ 32.5	$ 40.6
Charges (reversals), net	4.6	(3.1)
Payments	(7.5)	(5.0)
Balance at end of year	$ 29.6	$ 32.5
Environmental site contingency number of sites \| item	10
Short term environmental liabilities	$ 10.0
Letters of credit
Guarantor Obligations
Unused borrowing capacity with various financial institutions	89.0
Guarantee receivable financing
Guarantor Obligations
Guarantee obligations	$ 6.0

SHAREHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Jul. 25, 2013	Jul. 26, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
SHAREHOLDERS' EQUITY
Preferred stock, shares authorized			5,000,000
Preferred stock, par value (in dollars per share)			$ 1
Preferred stock, outstanding shares			0
Common stock, authorized shares			400,000,000	400,000,000
Common stock, par value (in dollars per share)			$ 1	$ 1
Repurchase of common stock			6,600,000
Repurchase of common stock, value			$ 283.5	$ 235.2	$ 13.5
Share repurchase authorized amount	$ 400.0	$ 400.0
Share repurchase remained authorized amount			$ 455.0

LONG-TERM INCENTIVE COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 30, 2013	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Stock-Based Compensation
Stock-based compensation cost capitalized		$ 0.0	$ 0.0	$ 0.0
Weighted-average fair value per share of options granted		$ 6.97	$ 7.08	$ 9.45
Weighted average assumptions
Risk-free interest rate		1.04%	1.82%	2.22%
Expected stock price volatility		27.17%	32.81%	30.70%
Expected dividend yield		3.40%	3.30%	2.76%
Expected option term		6 years 2 months 12 days	6 years	6 years 2 months 12 days
Total intrinsic value of stock options exercised		$ 26.1	$ 3.8	$ 2.9
Cash received on options exercised		44.8	10.2	3.9
Tax deductions associated with option exercises		8.5	1.3	0.9
Continuing operations \| Marketing, general and administrative expense
Stock-Based Compensation
Stock-based compensation expense		32.3	35.8	36.4
Tax benefit related to Stock-based compensation		10.8	12.5	$ 12.5
Long-term incentive units
Stock-Based Compensation
Tax benefit related to Stock-based compensation		3.2	0.5
Long-term incentive units \| Continuing operations \| Marketing, general and administrative expense
Stock-Based Compensation
LTI units expense		$ 6.3	$ 1.9
Long-term incentive units \| Ratable vesting
Stock-Based Compensation
Vesting period		4 years
Stock Options
Stock-Based Compensation
Option expiration period		10 years
Stock Options \| Ratable vesting \| Non-employee directors
Stock-Based Compensation
Vesting period		3 years
Stock Options \| Ratable vesting \| Employees
Stock-Based Compensation
Vesting period		4 years
Stock Options \| Maximum
Stock-Based Compensation
Purchase price of common stock as a percentage of its fair market value granted to non-employee directors and employees		100.00%
Market-leveraged stock units (MSUs) \| Ratable vesting
Stock-Based Compensation
Vesting period		4 years
Market-leveraged stock units (MSUs) \| Minimum \| Ratable vesting
Stock-Based Compensation
Shares issued (as a percent)		0.00%
Market-leveraged stock units (MSUs) \| Maximum \| Ratable vesting
Stock-Based Compensation
Shares issued (as a percent)		200.00%
Market-leveraged long-term incentive units \| Ratable vesting
Stock-Based Compensation
Vesting period		4 years
Market-leveraged long-term incentive units \| Minimum \| Ratable vesting
Stock-Based Compensation
Shares issued (as a percent)		0.00
Market-leveraged long-term incentive units \| Maximum \| Ratable vesting
Stock-Based Compensation
Shares issued (as a percent)		2.00
Performance long-term incentive units \| Cliff vesting
Stock-Based Compensation
Vesting period		3 years
Performance long-term incentive units \| Minimum \| Cliff vesting
Stock-Based Compensation
Shares issued (as a percent)		0.00
Performance long-term incentive units \| Maximum \| Cliff vesting
Stock-Based Compensation
Shares issued (as a percent)		2.00
Performance Units (PS)
Stock-Based Compensation
Payout as percentage of target resulted due to performance objective achievement over target level	117.00%
Performance Units (PS) \| Cliff vesting
Stock-Based Compensation
Vesting period		3 years
Performance Units (PS) \| Minimum \| Cliff vesting
Stock-Based Compensation
Shares issued (as a percent)		0.00%
Performance Units (PS) \| Maximum \| Cliff vesting
Stock-Based Compensation
Shares issued (as a percent)		200.00%
Restricted Stock Units (RSUs) \| Non-employee directors
Stock-Based Compensation
Vesting period		3 years
Restricted Stock Units (RSUs) \| Employees
Stock-Based Compensation
Vesting period		4 years
Restricted Stock Units (RSUs) \| Minimum
Stock-Based Compensation
Vesting period		3 years
Restricted Stock Units (RSUs) \| Maximum
Stock-Based Compensation
Vesting period		5 years
Unvested Stock Options, Performance Units, Restricted Stock Units and Market-leveraged stock units (MSUs) \| Continuing operations
Stock-Based Compensation
Unrecognized compensation cost related to share based compensation cost		$ 57.0
Unrecognized compensation cost weighted average recognition period in years		2 years

LONG-TERM INCENTIVE COMPENSATION (Details 2) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Number of options
Outstanding beginning balance, options	11,376,900
Granted, Options	800
Exercised, options	(1,668,100)
Forfeited or expired, options	(1,818,400)
Outstanding ending balance, options	7,891,200	11,376,900
Options vested and expected to vest, options	7,608,900
Options exercisable	6,230,400
Weighted-average exercise price
Outstanding, Weighted-average exercise price, beginning balance	$ 43.93
Granted, weighted-average exercise price	40.33
Exercised, weighted-average exercise price	27.01
Forfeited or expired, Weighted-average exercise price	51.19
Outstanding, Weighted-average exercise price, ending balance	45.85	$ 43.93
Options vested and expected to vest, Weighted-average exercise price	46.30
Options exercisable ,Weighted-average exercise price	$ 49.08
Weighted-average remaining contractual life
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	4 years 3 months 7 days	5 years 7 months 2 days
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	4 years 3 months 7 days	5 years 7 months 2 days
Options vested or expected to vest, Weighted-average remaining contractual life	4 years 1 month 24 days
Options exercisable, Weighted-average remaining contractual life	3 years 4 months 28 days
Aggregate intrinsic value
Outstanding, Aggregate intrinsic value beginning balance	$ 28.0
Outstanding, Aggregate intrinsic value ending balance	69.0	$ 28.0
Options vested and expected to vest, Aggregate Intrinsic Value	64.2
Options exercisable, Aggregate Intrinsic Value	$ 40.8

LONG-TERM INCENTIVE COMPENSATION (Details 3)	12 Months Ended
LONG-TERM INCENTIVE COMPENSATION (Details 3)	Dec. 28, 2013 $ / shares shares
Performance Units (PUs)
Number of awards
Number of units unvested, beginning balance \| shares	1,001,200
Number of units, granted at target \| shares	208,500
Number of units, Granted for above-target performance \| shares	57,500
Number of units, vested \| shares	(328,800)
Number of units, forfeited/cancelled \| shares	(143,200)
Number of units unvested, ending balance \| shares	795,200
Weighted-average grant-date fair value
Weighted-average grant-date fair value unvested, beginning balance \| $ / shares	$ 35.20
Weighted-average grant-date fair value, granted at target \| $ / shares	52.93
Weighted-average grant-date fair value, Granted for above-target performance \| $ / shares	30.87
Weighted-average grant-date fair value, vested \| $ / shares	29.71
Weighted-average grant-date fair value, forfeited/Cancelled \| $ / shares	37.78
Weighted-average grant-date fair value unvested, ending balance \| $ / shares	$ 41.32
Market-leveraged stock units (MSUs)
Number of awards
Number of units, granted at target \| shares	346,600
Number of units, forfeited/cancelled \| shares	(16,500)
Number of units unvested, ending balance \| shares	330,100
Weighted-average grant-date fair value
Weighted-average grant-date fair value, granted at target \| $ / shares	$ 51.40
Weighted-average grant-date fair value, forfeited/Cancelled \| $ / shares	51.56
Weighted-average grant-date fair value unvested, ending balance \| $ / shares	$ 51.40
Restricted Stock Units (RSUs)
Number of awards
Number of units unvested, beginning balance \| shares	1,352,200
Number of units, granted at target \| shares	59,900
Number of units, vested \| shares	(548,600)
Number of units, forfeited/cancelled \| shares	(182,500)
Number of units unvested, ending balance \| shares	681,000
Weighted-average grant-date fair value
Weighted-average grant-date fair value unvested, beginning balance \| $ / shares	$ 29.68
Weighted-average grant-date fair value, granted at target \| $ / shares	38.72
Weighted-average grant-date fair value, vested \| $ / shares	29.06
Weighted-average grant-date fair value, forfeited/Cancelled \| $ / shares	29.77
Weighted-average grant-date fair value unvested, ending balance \| $ / shares	$ 31.06

COST REDUCTION ACTIONS (Details) $ in Millions	12 Months Ended
COST REDUCTION ACTIONS (Details) $ in Millions	Dec. 28, 2013 USD ($) item	Dec. 29, 2012 USD ($) item	Dec. 31, 2011 USD ($) item
Restructuring Cost and Reserve
Charges (Reversals), net \| $	$ 40.3	$ 56.4
2012 Program
Restructuring Cost and Reserve
Charges (Reversals), net \| $	$ 40.3	$ 56.4
Number of positions reduced as a result of Cost Reduction Actions	1,400	1,060
Number of positions remaining	0
2011 Actions
Restructuring Cost and Reserve
Charges (Reversals), net \| $			$ 45.0
Number of positions reduced as a result of Cost Reduction Actions			910
Number of positions remaining		0

COST REDUCTION ACTIONS (Details 2) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
COST REDUCTION ACTIONS (Details 2) - USD ($) $ in Millions	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Cost Reduction Actions
Charges (Reversals), net									$ 40.3	$ 56.4
Severance and related costs
Cost Reduction Actions
Charges (Reversals), net	$ 6.3	$ 8.7	$ 5.4	$ 6.8	$ 16.2	$ 17.6	$ 9.8	$ 5.7	27.2	49.3	$ 35.0
2012 Program
Cost Reduction Actions
Charges (Reversals), net									40.3	56.4
2012 Program \| Severance and related costs
Cost Reduction Actions
Beginning Balance				20.7					20.7
Charges (Reversals), net									27.2	50.7
Cash payments									(41.0)	(30.5)
Foreign Currency translation									(0.3)	0.5
Ending Balance	6.6				20.7				6.6	20.7
2012 Program \| Lease and other contract cancellation costs
Cost Reduction Actions
Beginning Balance				0.1					0.1
Charges (Reversals), net									3.4	0.1
Cash payments									(3.3)
Ending Balance	0.2				0.1				0.2	0.1
2012 Program \| Asset impairment charges
Cost Reduction Actions
Charges (Reversals), net									9.7	6.9
Non-cash Impairment									(9.7)	(6.9)
2011 Actions
Cost Reduction Actions
Charges (Reversals), net											45.0
2011 Actions \| Severance and related costs
Cost Reduction Actions
Beginning Balance				0.1				12.7	0.1	12.7
Charges (Reversals), net										(1.1)
Cash payments									(0.1)	(11.7)
Foreign Currency translation										0.2
Ending Balance					0.1					0.1	12.7
2011 Actions \| Lease and other contract cancellation costs
Cost Reduction Actions
Beginning Balance								1.8		1.8
Charges (Reversals), net										(0.2)
Cash payments										(1.6)
Ending Balance											1.8
Q3 2010-Q4 2010 Actions \| Severance and related costs
Cost Reduction Actions
Beginning Balance								0.2		0.2
Cash payments										(0.2)
Ending Balance											0.2
Total including discontinued operations
Cost Reduction Actions
Beginning Balance				$ 20.9				$ 14.7	20.9	14.7
Charges (Reversals), net									40.3	56.4
Cash payments									(44.4)	(44.0)
Non-cash Impairment									(9.7)	(6.9)
Foreign Currency translation									(0.3)	0.7
Ending Balance	$ 6.8				$ 20.9				$ 6.8	$ 20.9	$ 14.7

COST REDUCTION ACTIONS (Details 3) $ in Millions	1 Months Ended	12 Months Ended
COST REDUCTION ACTIONS (Details 3) $ in Millions	Jan. 31, 2014 item	Dec. 28, 2013 USD ($)	Dec. 29, 2012 USD ($)	Dec. 31, 2011 USD ($)
Restructuring Cost and Reserve
Restructuring costs		$ 40.3	$ 56.4
Continuing operations \| Other expense, net
Restructuring Cost and Reserve
Restructuring costs		40.3	55.8	$ 43.9
Discontinued operations \| Other expense, net
Restructuring Cost and Reserve
Restructuring costs			0.6	1.3
Total including discontinued operations
Restructuring Cost and Reserve
Restructuring costs		40.3		45.2
Pressure-sensitive Materials \| Forecast
Restructuring Cost and Reserve
Number of positions anticipated to be reduced \| item	110
Pressure-sensitive Materials \| Other expense, net
Restructuring Cost and Reserve
Restructuring costs		10.8	34.1	19.7
Retail Branding and Information Solutions \| Other expense, net
Restructuring Cost and Reserve
Restructuring costs		28.5	17.8	19.4
Other specialty converting businesses \| Other expense, net
Restructuring Cost and Reserve
Restructuring costs		0.1	0.9
Corporate \| Other expense, net
Restructuring Cost and Reserve
Restructuring costs		$ 0.9	$ 3.0	$ 4.8

TAXES BASED ON INCOME (Details) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Current:
U.S. federal tax	$ 1.9	$ (18.7)	$ (8.6)
State taxes	0.3	(2.4)	(1.1)
International taxes	107.3	101.2	78.4
Total	109.5	80.1	68.7
Deferred:
U.S. federal tax	(11.2)	9.5	(6.8)
State taxes	1.3	(9.3)	(1.4)
International taxes	19.2	(0.3)	11.0
Total	9.3	(0.1)	2.8
Provision for income taxes	$ 118.8	$ 80.0	$ 71.5

TAXES BASED ON INCOME (Details 2) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details 2) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
TAXES BASED ON INCOME
Computed tax at 35% of income before taxes	$ 127.1	$ 83.1	$ 74.5
U.S statutory rate	35.00%	35.00%	35.00%
Increase (decrease) in taxes resulting from:
State taxes, net of federal tax benefit	$ 2.4	$ 1.1	$ (2.4)
Foreign earnings taxed at different rates	(14.7)	11.8	2.3
Valuation allowance	(4.3)	(23.6)	7.0
Corporate owned life insurance	(6.9)	(5.5)	(5.1)
U.S. federal research and development tax credits	(7.0)		(4.6)
Tax contingencies and audit settlements	23.1	9.4	2.9
Expiration of carryforward items	2.5	4.8	0.4
Other items, net	(3.4)	(1.1)	(3.5)
Provision for income taxes	118.8	80.0	71.5
Expense related to accrual of U.S. taxes on certain foreign earnings	$ 12.1	$ 11.2	$ 0.0

TAXES BASED ON INCOME (Details 3) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details 3) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
TAXES BASED ON INCOME
U.S.	$ (36.2)	$ (125.7)	$ (81.8)
International	399.3	363.3	295.0
Income from continuing operations before taxes	$ 363.1	$ 237.6	$ 213.2

TAXES BASED ON INCOME (Details 4) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details 4) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
TAXES BASED ON INCOME
Effective tax rate (as a percent)	32.70%	33.70%	33.50%
Discrete tax benefits impacting the effective tax rate related to retroactive reinstatement of the federal research and development tax credit	$ 11.0
Net expense on changes in certain tax reserves and valuation allowances	18.8
Benefits from favorable tax rates associated with certain earnings from the entity's operations in lower-tax jurisdictions throughout the world	11.2
Expense for accrual of U.S. taxes on certain foreign earnings expected to be repatriated during 2013	12.1	$ 11.2	$ 0.0
Benefit from release of a valuation allowance on certain state tax credits		6.2
Impact on the effective tax rate by the expiration of federal research and development tax credit in prior year		5.0
Increase in valuation allowance	(4.3)	$ (23.6)	7.0
Income tax expense from the settlement of foreign tax audit			$ 2.8
Undistributed earnings of foreign subsidiaries considered indefinitely reinvested in foreign operations	$ 2,100.0

TAXES BASED ON INCOME (Details 5) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details 5) - USD ($) $ in Millions	Dec. 29, 2012	Dec. 28, 2013
Schedule of components of the temporary differences
Accrued expenses not currently deductible	$ 80.3	$ 44.7
Net operating losses	323.8	306.2
Tax credit carryforwards	118.0	129.2
Capital loss carryforward	6.0
Postretirement and postemployment benefits	107.9	100.8
Pension costs	146.1	95.7
Inventory reserves	12.1	8.6
Other assets	2.7	6.2
Valuation allowance	(69.3)	(59.0)
Total deferred tax assets	727.6	632.4
Depreciation and amortization	(166.7)	(127.8)
Repatriation accrual	(20.3)	(52.9)
Foreign operating loss recapture	(136.5)	(136.5)
Other liabilities	(3.1)	(1.8)
Total deferred tax liabilities	(326.6)	(319.0)
Total net deferred tax assets from continuing operations	401.0	$ 313.4
Revision to the presentation shown for 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Decrease in net operating losses	33.4
Decrease in valuation allowance	27.9
Decrease in other liabilities	$ 5.5

TAXES BASED ON INCOME (Details 6) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details 6) $ in Millions	Dec. 28, 2013 USD ($)
Continuing operations
Tax benefit	$ 4.3
Discontinued operations
Tax benefit	$ 6.0

TAXES BASED ON INCOME (Details 7) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details 7) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012
Net operating loss and tax carryforwards
Tax credit carryforwards	$ 129.2	$ 118.0
Expiring between 2014 and 2016
Net operating loss and tax carryforwards
Tax credit carryforwards	3.4
No expiration date
Net operating loss and tax carryforwards
Tax credit carryforwards	8.5
Expiring between 2017 and 2021
Net operating loss and tax carryforwards
Tax credit carryforwards	87.2
Expiring after 2021
Net operating loss and tax carryforwards
Tax credit carryforwards	30.1
Foreign subsidiaries
Net operating loss and tax carryforwards
Net operating loss carryforwards of foreign subsidiaries	$ 1,060.0	$ 1,140.0
Expected period for certain indefinite-lived foreign net operating losses to be fully utilized	50 years
Foreign subsidiaries \| No expiration date
Net operating loss and tax carryforwards
Net operating loss carryforwards of foreign subsidiaries	$ 944.8
Foreign subsidiaries \| Expiring between 2014 and 2017
Net operating loss and tax carryforwards
Net operating loss carryforwards of foreign subsidiaries	42.8
Foreign subsidiaries \| Expiring after 2017
Net operating loss and tax carryforwards
Net operating loss carryforwards of foreign subsidiaries	$ 77.5

TAXES BASED ON INCOME (Details 8) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details 8) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
TAXES BASED ON INCOME
Unrecognized tax benefits	$ 137.2	$ 121.6	$ 120.3
Unrecognized tax benefits, if recognized	96.7	82.8
Interest expense and penalties recognized in current year for uncertain tax positions	2.7	5.5	$ 2.7
Accrued interest and penalties for uncertain tax positions, net of tax benefit	29.2	$ 29.1
Reasonably possible decrease in unrecognized tax benefits during next 12 months	$ 20.0

TAXES BASED ON INCOME (Details 9) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details 9) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 29, 2012
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at beginning of year	$ 121.6	$ 120.3
Additions based on tax positions related to the current year	20.1	15.7
Additions for tax position of prior years	8.3	0.6
Reduction for tax positions of prior years:
Changes in judgment	(4.0)	(5.6)
Settlements	(2.6)	(2.3)
Lapses and statute expirations	(6.2)	(4.4)
Changes due to translation of foreign currencies		(2.7)
Balance at end of year	$ 137.2	$ 121.6

SEGMENT INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Millions	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Segment Reporting Information
Net sales	$ 1,583.9	$ 1,504.9	$ 1,552.3	$ 1,498.9	$ 1,483.1	$ 1,447.0	$ 1,490.4	$ 1,443.0	$ 6,140.0	$ 5,863.5	$ 5,844.9
Interest expense									(59.0)	(72.9)	(71.1)
Income from continuing operations before taxes									363.1	237.6	213.2
Capital expenditures									124.7	92.9	98.9
Depreciation and amortization expense									204.3	211.0	220.0
Other expense, net	$ 3.7	$ 25.7	$ (0.3)	$ 7.5	$ 28.1	$ 21.9	$ 11.2	$ 7.6	36.6	68.8	51.6
Intersegment
Segment Reporting Information
Net sales									70.6	65.5	63.5
Pressure-sensitive Materials \| Operating segments
Segment Reporting Information
Net sales									4,455.0	4,257.6	4,261.0
Income from continuing operations before taxes									442.8	359.7	349.1
Capital expenditures									81.1	64.8	71.2
Depreciation and amortization expense									113.5	112.8	119.1
Other expense, net									10.8	33.5	20.1
Pressure-sensitive Materials \| Intersegment
Segment Reporting Information
Net sales									64.6	60.9	59.5
Retail Branding and Information Solutions \| Operating segments
Segment Reporting Information
Net sales									1,611.1	1,535.0	1,510.1
Income from continuing operations before taxes									81.7	53.3	42.1
Capital expenditures									42.4	24.7	24.2
Depreciation and amortization expense									86.7	93.9	96.5
Other expense, net									20.0	24.8	17.8
Retail Branding and Information Solutions \| Intersegment
Segment Reporting Information
Net sales									2.4	3.8	3.3
Other specialty converting businesses \| Operating segments
Segment Reporting Information
Net sales									73.9	70.9	73.8
Income from continuing operations before taxes									(8.3)	(16.2)	(12.5)
Capital expenditures									1.2	3.4	3.5
Depreciation and amortization expense									4.1	4.3	4.4
Other expense, net									0.1	4.8
Other specialty converting businesses \| Intersegment
Segment Reporting Information
Net sales									3.6	0.8	0.7
Corporate
Segment Reporting Information
Income from continuing operations before taxes									(94.1)	(86.3)	(94.4)
Other expense, net									$ 5.7	$ 5.7	$ 13.7

SEGMENT INFORMATION (Details 2) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
SEGMENT INFORMATION (Details 2) - USD ($) $ in Millions	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Restructuring costs
Charges									$ 40.3	$ 56.4
Other items:
Charitable contribution to Avery Dennison Foundation		$ 10.0							10.0
Indefinite-lived intangible asset impairment charge					$ 7.0					7.0
Gain on sale of product line							$ (0.6)			(0.6)
Gain on sale of assets	$ (5.1)	(0.5)	$ (10.9)	$ (1.3)					(17.8)
Loss from debt extinguishment											$ 0.7
Gain from curtailment of pension obligation		(1.6)							(1.6)
Legal settlement			2.5						2.5		(1.2)
Product line exits					1.8	$ 2.1				3.9
Divestiture-related costs	1.1	1.1	0.3	0.7		0.7	1.6	$ 0.4	3.2	2.7	8.2
Other expense, net	3.7	25.7	(0.3)	7.5	28.1	21.9	11.2	7.6	36.6	68.8	51.6
Severance and related costs
Restructuring costs
Charges	6.3	8.7	5.4	6.8	16.2	17.6	9.8	5.7	27.2	49.3	35.0
Asset impairment, charges and lease and other contract cancellation costs
Restructuring costs
Charges	$ 1.4	$ 8.0	$ 2.4	$ 1.3	$ 3.1	$ 1.5	$ 0.4	$ 1.5	$ 13.1	$ 6.5	$ 8.9

SEGMENT INFORMATION (Details 3) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
SEGMENT INFORMATION (Details 3) - USD ($) $ in Millions	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Net sales to unaffiliated customers
Net sales	$ 1,583.9	$ 1,504.9	$ 1,552.3	$ 1,498.9	$ 1,483.1	$ 1,447.0	$ 1,490.4	$ 1,443.0	$ 6,140.0	$ 5,863.5	$ 5,844.9
Property, plant and equipment, net
Property, plant and equipment, net	922.5				1,015.5				922.5	1,015.5	1,079.4
U.S.
Net sales to unaffiliated customers
Net sales									1,537.6	1,528.3	1,473.0
Property, plant and equipment, net
Property, plant and equipment, net	279.6				340.2				279.6	340.2	370.5
Europe
Net sales to unaffiliated customers
Net sales									1,958.4	1,851.1	1,994.8
Asia
Net sales to unaffiliated customers
Net sales									1,823.5	1,627.6	1,526.9
Latin America
Net sales to unaffiliated customers
Net sales									515.6	501.2	489.9
Other International
Net sales to unaffiliated customers
Net sales									304.9	355.3	360.3
International
Property, plant and equipment, net
Property, plant and equipment, net	$ 642.9				$ 675.3				$ 642.9	$ 675.3	$ 708.9

QUARTERLY FINANCIAL INFORMATION (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
QUARTERLY FINANCIAL INFORMATION (Unaudited)
Net sales	$ 1,583.9	$ 1,504.9	$ 1,552.3	$ 1,498.9	$ 1,483.1	$ 1,447.0	$ 1,490.4	$ 1,443.0	$ 6,140.0	$ 5,863.5	$ 5,844.9
Gross profit	416.3	402.2	417.5	401.7	382.0	381.0	388.1	377.1	1,637.7	1,528.2	1,475.3
Income from continuing operations	44.7	62.0	70.8	66.8	28.0	35.9	49.1	44.6	244.3	157.6	141.7
Loss from discontinued operations, net of tax	(2.0)	(15.5)	(2.0)	(9.0)	21.0	22.4	15.1	(0.7)
Net income	$ 42.7	$ 46.5	$ 68.8	$ 57.8	$ 49.0	$ 58.3	$ 64.2	$ 43.9	$ 215.8	$ 215.4	$ 190.1
Net income (loss) per common share
Continuing operations (in dollars per share)	$ 0.46	$ 0.63	$ 0.71	$ 0.67	$ 0.28	$ 0.36	$ 0.47	$ 0.42	$ 2.48	$ 1.54	$ 1.34
Discontinued operations (in dollars per share)	(0.02)	(0.16)	(0.02)	(0.09)	0.21	0.22	0.15		(0.29)	0.56	0.46
Net income per common share (in dollars per share)	0.44	0.47	0.69	0.58	0.49	0.58	0.62	0.42	2.19	2.10	1.80
Net income (loss) per common share, assuming dilution:
Continuing operations (in dollars per share)	0.45	0.62	0.70	0.66	0.28	0.35	0.47	0.42	2.44	1.52	1.33
Discontinued operations (in dollars per share)	(0.02)	(0.15)	(0.02)	(0.09)	0.20	0.22	0.15	(0.01)	(0.28)	0.56	0.45
Net income per common share, assuming dilution (in dollars per share)	$ 0.43	$ 0.47	$ 0.68	$ 0.57	$ 0.48	$ 0.57	$ 0.62	$ 0.41	$ 2.16	$ 2.08	$ 1.78

QUARTERLY FINANCIAL INFORMATION (Unaudited) (Details 2) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Restructuring Cost and Reserve
Charges									$ 40.3	$ 56.4
Other items:
Charitable contribution to Avery Dennison Foundation		$ 10.0							10.0
Gain on sale of assets	$ (5.1)	(0.5)	$ (10.9)	$ (1.3)					(17.8)
Gain from curtailment of pension obligation		(1.6)							(1.6)
Product line exits					$ 1.8	$ 2.1				3.9
Legal settlement			2.5						2.5		$ (1.2)
Divestiture-related costs	1.1	1.1	0.3	0.7		0.7	$ 1.6	$ 0.4	3.2	2.7	8.2
Indefinite-lived intangible asset impairment charge					7.0					7.0
Gain on sale of product line							(0.6)			(0.6)
Other expense, net	3.7	25.7	(0.3)	7.5	28.1	21.9	11.2	7.6	36.6	68.8	51.6
Severance and related costs
Restructuring Cost and Reserve
Charges	6.3	8.7	5.4	6.8	16.2	17.6	9.8	5.7	27.2	49.3	35.0
Asset impairment, lease and other contract cancellation charges
Restructuring Cost and Reserve
Charges	$ 1.4	$ 8.0	$ 2.4	$ 1.3	$ 3.1	$ 1.5	$ 0.4	$ 1.5	$ 13.1	$ 6.5	$ 8.9

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	12 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Dec. 28, 2013	Dec. 31, 2011	Dec. 29, 2012
Assets
Derivative assets	$ 3.2		$ 10.0
Liabilities
Derivative liabilities	4.7		3.8
Recurring
Assets
Trading securities	17.7		18.6
Short-term investments	114.5
Derivative assets	3.2		10.0
Liabilities
Derivative liabilities	4.7		3.8
Recurring \| Cash and Cash Equivalents
Assets
Trading securities	0.3		0.9
Recurring \| Other current assets
Assets
Trading securities	17.4		17.7
Non-recurring
Liabilities
Carrying value of long-lived assets		$ 4.4
Fair value of long-lived assets		1.3
Non-recurring \| Other expense, net
Liabilities
Impairment charge of long-lived assets		3.1
Quoted Prices in Active Markets (Level 1) \| Recurring
Assets
Trading securities	7.6		9.3
Derivative assets	0.1
Liabilities
Derivative liabilities			1.0
Significant Other Observable Inputs (Level 2)
Liabilities
Fair value of long-lived assets		1.1
Significant Other Observable Inputs (Level 2) \| Recurring
Assets
Trading securities	10.1		9.3
Short-term investments	114.5
Derivative assets	3.1		10.0
Liabilities
Derivative liabilities	4.7		$ 2.8
Significant Other Unobservable Inputs (Level 3)
Liabilities
Fair value of long-lived assets		$ 0.2
Significant Other Unobservable Inputs (Level 3) \| Non-recurring
Liabilities
Carrying value of long-lived assets	8.3
Fair value of long-lived assets	4.8
Significant Other Unobservable Inputs (Level 3) \| Non-recurring \| Other expense, net
Liabilities
Impairment charge of long-lived assets	$ 3.5

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011
Allowance for doubtful accounts
Valuation and qualifying accounts and reserves
Balance at Beginning of Year	$ 31.1	$ 34.0	$ 38.9
Net Additions Charged to Costs and Expenses	5.1	3.4	6.3
Deductions from Reserves	(14.8)	(6.3)	(11.2)
Balance at End of Year	21.4	31.1	34.0
Allowance for sales returns
Valuation and qualifying accounts and reserves
Balance at Beginning of Year	13.7	9.3	12.5
Net Additions Charged to Costs and Expenses	11.2	14.5	10.5
Deductions from Reserves	(14.7)	(10.1)	(13.7)
Balance at End of Year	$ 10.2	$ 13.7	$ 9.3