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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Apr. 02, 2016	Apr. 30, 2016
Document and Entity Information
Entity Registrant Name	Avery Dennison Corp
Entity Central Index Key	0000008818
Document Type	10-Q
Document Period End Date	Apr. 02, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		89,175,966
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Apr. 02, 2016	Jan. 02, 2016
Current assets:
Cash and cash equivalents	$ 169.6	$ 158.8
Trade accounts receivable, less allowances of $33.9 and $31.5 at April 2, 2016 and January 2, 2016, respectively	1,019.1	964.7
Inventories, net	519.5	478.7
Assets held for sale	2.5	2.5
Other current assets	176.7	170.7
Total current assets	1,887.4	1,775.4
Property, plant and equipment	2,639.2	2,599.9
Accumulated depreciation	(1,791.3)	(1,752.0)
Property, plant and equipment, net	847.9	847.9
Goodwill	695.1	686.2
Other intangibles resulting from business acquisitions, net	41.3	45.8
Non-current deferred income taxes	381.8	372.2
Other assets	395.9	406.2
Total assets	4,249.4	4,133.7
Current liabilities:
Short-term borrowings and current portion of long-term debt and capital leases	264.9	95.3
Accounts payable	836.9	814.6
Other current liabilities	492.4	549.2
Total current liabilities	1,594.2	1,459.1
Long-term debt and capital leases	963.3	963.6
Long-term retirement benefits and other liabilities	612.1	637.4
Non-current deferred and payable income taxes	111.5	107.9
Commitments and contingencies (see Note 15)
Shareholders' equity:
Common stock, $1 par value per share, authorized - 400,000,000 shares at April 2, 2016 and January 2, 2016; issued - 124,126,624 shares at April 2, 2016 and January 2, 2016; outstanding - 89,276,441 shares and 89,967,697 shares at April 2, 2016 and January 2, 2016, respectively	124.1	124.1
Capital in excess of par value	828.7	834.0
Retained earnings	2,329.7	2,277.6
Treasury stock at cost, 34,850,183 shares and 34,158,927 shares at April 2, 2016 and January 2, 2016, respectively	(1,653.0)	(1,587.0)
Accumulated other comprehensive loss	(661.2)	(683.0)
Total shareholders' equity	968.3	965.7
Total liabilities and shareholders' equity	$ 4,249.4	$ 4,133.7

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Apr. 02, 2016	Jan. 02, 2016
CONDENSED CONSOLIDATED BALANCE SHEETS
Trade accounts receivable, allowances (in dollars)	$ 33.9	$ 31.5
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	89,276,441	89,967,697
Treasury stock, shares	34,850,183	34,158,927

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 1,485.5	$ 1,528.0
Cost of products sold	1,062.9	1,098.0
Gross profit	422.6	430.0
Marketing, general and administrative expense	278.2	300.4
Interest expense	15.3	15.3
Other expense, net	5.6	14.3
Income before taxes	123.5	100.0
Provision for income taxes	33.9	28.1
Net income	$ 89.6	$ 71.9
Per share amounts:
Net income per common share (in dollars per share)	$ 1.00	$ 0.79
Net income per common share, assuming dilution (in dollars per share)	0.98	0.78
Dividends per common share (in dollars per share)	$ 0.37	$ 0.35
Weighted average number of shares outstanding:
Common shares (in shares)	89.4	90.6
Common shares, assuming dilution (in shares)	91.1	92.4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 89.6	$ 71.9
Other comprehensive income (loss), net of tax:
Foreign currency translation	18.9	(72.0)
Pension and other postretirement benefits	4.2	5.4
Cash flow hedges	(1.3)	(0.7)
Other comprehensive income (loss), net of tax	21.8	(67.3)
Total comprehensive income, net of tax	$ 111.4	$ 4.6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Operating Activities
Net income	$ 89.6	$ 71.9
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation	29.0	33.2
Amortization	15.3	16.1
Provision for doubtful accounts and sales returns	11.2	14.8
Net losses from asset impairments and sales/disposals of assets	0.6	1.1
Stock-based compensation	7.5	7.4
Other non-cash expense and loss	12.8	13.6
Changes in assets and liabilities and other adjustments	(172.3)	(153.5)
Net cash (used in) provided by operating activities	(6.3)	4.6
Investing Activities
Purchases of property, plant and equipment	(25.2)	(25.3)
Purchases of software and other deferred charges	(2.0)	(1.4)
Proceeds from sales of property, plant and equipment	0.1	2.8
Purchases of investments, net	(3.8)	(0.4)
Net cash used in by investing activities	(30.9)	(24.3)
Financing Activities
Net increase in borrowings (maturities of 90 days or less)	169.4	64.2
Payments of debt (maturities longer than 90 days)	(0.5)	(0.2)
Dividends paid	(33.0)	(31.8)
Share repurchases	(95.6)	(33.8)
Proceeds from exercises of stock options, net	16.0	16.0
Other	(9.2)	(8.4)
Net cash provided by financing activities	47.1	6.0
Effect of foreign currency translation on cash balances	0.9	(4.5)
Increase (decrease) in cash and cash equivalents	10.8	(18.2)
Cash and cash equivalents, beginning of year	158.8	207.2
Cash and cash equivalents, end of period	$ 169.6	$ 189.0

General	3 Months Ended
General	Apr. 02, 2016
General
General	Note 1. General The unaudited Condensed Consolidated Financial Statements and notes in this Quarterly Report on Form 10-Q are presented as permitted by Article 10 of Regulation S-X and do not contain certain information included in the audited Consolidated Financial Statements and notes thereto in our 2015 Annual Report on Form 10-K, which should be read in conjunction with this Quarterly Report on Form 10-Q. The accompanying unaudited Condensed Consolidated Financial Statements include normal recurring adjustments necessary for a fair statement of our interim results. Interim results of operations are not necessarily indicative of future results. Fiscal Periods The first quarters of 2016 and 2015 consisted of thirteen-week periods ending April 2, 2016 and April 4, 2015, respectively.

Prior Period Financial Statement Revision

3 Months Ended

Apr. 02, 2016

Prior Period Adjustment

Prior period financial statement revision

Note 2. Prior Period Financial Statement Revision

In 2015, we determined that certain of our benefit plans (that were frozen between 1994 and 2003) were not properly accounted for since their inception between 1984 and 1988. This resulted in an understatement of long-term retirement benefits and other liabilities and the cumulative historical expenses related to these benefit plans. Additionally, we identified certain liquid short-term bank drafts with maturities greater than 90 days that were improperly classified as cash and cash equivalents instead of other current assets, which resulted in an overstatement of operating cash flows, and tax effects related to certain foreign pension plans that were not properly accounted for on our consolidated financial statements.

We assessed the materiality of these errors on our financial statements for prior periods in accordance with United States Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin (“SAB”) No. 99, Materiality, codified in Accounting Standards Codification (“ASC”) 250, Presentation of Financial Statements, and concluded that they were not material to any prior annual or interim periods. However, the aggregate amount of the prior period revisions of approximately $24 million would have been material to our Consolidated Statements of Income in the period that the errors were identified. Consequently, in accordance with ASC 250 (SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements), we have corrected these errors for all prior periods presented by revising the unaudited Condensed Consolidated Financial Statements and other financial information included herein. We also corrected the timing of immaterial previously recorded out-of-period adjustments and reflected them in the revised prior period financial statements, where applicable. Periods not presented herein will be revised, as applicable, in future filings.

The effects of this revision on our unaudited Condensed Consolidated Statements of Income were as follows:

	Three Months Ended April 4, 2015
(In millions)	As Previously Reported		Adjustment			As Revised
Marketing, general and administrative expense	$	300.9	$	(.5	)	$	300.4
Income before taxes	99.5		.5			100.0
Provision for income taxes	27.9		.2			28.1
Net income	71.6		.3			71.9
Per share amounts:
Net income per common share	$	.79	$	–		$	.79
Net income per common share, assuming dilution	.77		.01			.78

The effects of the revision on our unaudited Condensed Consolidated Statements of Comprehensive Income were as follows:

	Three Months Ended April 4, 2015
(In millions)	As Previously Reported			Adjustment			As Revised
Net income	$	71.6		$	.3		$	71.9
Foreign currency translation	(72.1		)	.1			(72.0		)
Pension and other postretirement benefits	6.4			(1.0		)	5.4
Other comprehensive loss, net of tax	(66.4		)	(.9		)	(67.3		)
Total comprehensive income, net of tax	5.2			(.6		)	4.6

The effects of the revision on our unaudited Condensed Consolidated Statements of Cash Flows were as follows:

	Three Months Ended April 4, 2015
(In millions)	As Previously Reported			Adjustment			As Revised
Net cash (used in) provided by operating activities	$	8.3		$	(3.7	)	$	4.6
Increase (decrease) in cash and cash equivalents	(14.5		)	(3.7		)	(18.2		)
Cash and cash equivalents, beginning of year	227.0			(19.8		)	207.2
Cash and cash equivalents, end of period	212.5			(23.5		)	189.0

Inventories

3 Months Ended

Apr. 02, 2016

Inventories

Inventories

Note 3. Inventories

Net inventories consisted of:

(In millions)	April 2, 2016		January 2, 2016
Raw materials	$	197.9	$	180.5
Work-in-progress	155.5		143.0
Finished goods	166.1		155.2

Inventories, net	$	519.5	$	478.7

Goodwill

3 Months Ended

Apr. 02, 2016

Goodwill.

Goodwill

Note 4. Goodwill

Changes in the net carrying amount of goodwill for the three months ended April 2, 2016, by reportable segment, were as follows:

(In millions)	Pressure-sensitive Materials		Retail Branding and Information Solutions		Total
Goodwill as of January 2, 2016	$	277.9	$	408.3	$	686.2
Translation adjustments	6.6		2.3		8.9

Goodwill as of April 2, 2016	$	284.5	$	410.6	$	695.1

The carrying amounts of goodwill at April 2, 2016 and January 2, 2016 were net of accumulated impairment losses of $820 million, which were included in our Retail Branding and Information Solutions (“RBIS”) reportable segment.

There was no goodwill associated with our Vancive Medical Technologies reportable segment.

Debt and Capital Leases	3 Months Ended
Debt and Capital Leases	Apr. 02, 2016
DEBT AND CAPITAL LEASES
Debt and Capital Leases	Note 5. Debt and Capital Leases 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 includes commercial paper issuances and short-term lines of credit, approximates carrying value given the short duration of these obligations. The fair value of our total debt was $1.28 billion at April 2, 2016 and $1.08 billion at January 2, 2016. Fair value amounts were determined based primarily on Level 2 inputs, which are inputs other than quoted prices in active markets that are either directly or indirectly observable. Our $700 million revolving credit facility (the “Revolver”) contains financial covenants requiring that we maintain specified ratios of total debt and interest expense in relation to certain measures of income. As of April 2, 2016 and January 2, 2016, we were in compliance with our financial covenants. In March 2016, we entered into an agreement with three commercial paper dealers to establish a Euro-Commercial Paper Program pursuant to which we may issue unsecured commercial paper notes up to a maximum aggregate amount outstanding of $500 million. Proceeds from issuances under this program may be used for general corporate purposes. The maturities of the notes may vary, but may not exceed 364 days from the date of issuance. Our payment obligations with respect to any notes issued under this program are backed by the Revolver. There are no financial covenants under this program. As of April 2, 2016, there were no balances outstanding under this program.

Pension and Other Postretirement Benefits

3 Months Ended

Apr. 02, 2016

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 accrual of benefits under some of which has been frozen, covering eligible employees in the U.S. and certain other countries. Benefits payable to an employee are based primarily on years of service and the employee’s compensation during the course of his or her employment with us.

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

In December 2015, we offered eligible former employees who are vested participants in our Avery Dennison Pension Plan the opportunity to receive their benefits immediately as either a lump-sum payment or an annuity, rather than waiting until they are retirement eligible under the terms of the plan. Based on the acceptances we received to this offer, approximately $70 million of pension obligation related to this plan is expected to be settled out of existing plan assets during the second quarter of 2016. We anticipate a one-time non-cash pre-tax charge of approximately $40 million related to this settlement, subject to pension asset and liability valuations on the settlement date. No additional contributions to the plan are required for this settlement.

The following table sets forth the components of net periodic benefit cost (credit) for our defined benefit plans:

	Pension Benefits												U.S. Postretirement Health Benefits
	Three Months Ended												Three Months Ended
	April 2, 2016						April 4, 2015						April 2, 2016			April 4, 2015
(In millions)	U.S.			Int’l			U.S.			Int’l
Service cost	$	.1		$	3.4		$	.1		$	3.7		$	–		$	–
Interest cost	9.8			4.1			11.2			4.5			.1			.1
Expected return on plan assets	(11.4		)	(5.3		)	(12.9		)	(5.5		)	–			–
Recognized net actuarial loss	4.4			1.8			5.1			2.5			.5			.6
Amortization of prior service cost (credit)	.3			(.1		)	.3			(.1		)	(.8		)	(.8		)

Net periodic benefit cost (credit)	$	3.2		$	3.9		$	3.8		$	5.1		$	(.2	)	$	(.1	)

Research and Development	3 Months Ended
Research and Development	Apr. 02, 2016
Research and Development
Research and Development	Note 7. Research and Development Research and development expense was $22.3 million and $25.6 million for the three months ended April 2, 2016 and April 4, 2015, respectively. This expense was included in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Statements of Income.

- Definition

The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period.

+ References + Details

Long-Term Incentive Compensation	3 Months Ended
Long-Term Incentive Compensation	Apr. 02, 2016
Long-Term Incentive Compensation
Long-Term Incentive Compensation	Note 8. Long-Term Incentive Compensation Equity Awards Stock-based compensation expense was $7.5 million and $7.4 million for the three months ended April 2, 2016 and April 4, 2015, respectively. This expense was included in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Statements of Income. As of April 2, 2016, we had approximately $52 million of unrecognized compensation expense related to unvested stock-based awards, which is expected to be recognized over the remaining weighted-average period of approximately three years. Cash Awards Compensation expense related to long-term incentive units was $9.5 million and $5.2 million for the three months ended April 2, 2016 and April 4, 2015, respectively. This expense was included in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Statements of Income.

Cost Reduction Actions

3 Months Ended

Apr. 02, 2016

Cost Reduction Actions

Cost Reduction Actions

Note 9. Cost Reduction Actions

2015/2016 Actions

During the three months ended April 2, 2016, we recorded $5.7 million in restructuring charges related to restructuring actions initiated during the third quarter of 2015 that we expect to continue through 2016 (“2015/2016 Actions”). These charges consisted of severance and related costs for the reduction of approximately 65 positions, lease cancellation costs, and asset impairment charges.

During fiscal year 2015, we recorded $26.1 million in restructuring charges, net of reversals, related to our 2015/2016 Actions. These charges consisted of severance and related costs for the reduction of approximately 430 positions, lease cancellation costs, and asset impairment charges.

No employees impacted by our 2015/2016 Actions taken through April 2, 2016 remained employed with us as of such date. We expect charges and payments related to these actions to be substantially completed in 2016.

2014/2015 Actions

During fiscal year 2015, we recorded $33.4 million in restructuring charges, net of reversals, related to restructuring actions we initiated in 2014 that continued through the second quarter of 2015 (“2014/2015 Actions”). These charges consisted of severance and related costs for the reduction of approximately 605 positions, lease cancellation costs, and asset impairment charges.

Approximately 85 employees impacted by our 2014/2015 Actions remained employed with us as of April 2, 2016. We expect charges and payments related to these actions to be substantially completed in 2016.

Accruals for severance and related costs and lease cancellation costs were included in “Other current liabilities” in the unaudited Condensed Consolidated Balance Sheets. Asset impairment charges were based on the estimated market value of the assets. Restructuring charges were included in “Other expense, net” in the unaudited Condensed Consolidated Statements of Income.

During the three months ended April 2, 2016, restructuring charges and payments were as follows:

(In millions)	Accrual at January 2, 2016		Charges (Reversals), net			Cash Payments			Non-cash Impairment			Foreign Currency Translation		Accrual at April 2, 2016
2015/2016 Actions
Severance and related costs	$	8.4	$	5.3		$	(10.9	)	$	–		$	.2	$	3.0
Asset impairment charges	–		.1			–			(.1		)	–		–
Lease cancellation costs	.2		.3			(.2		)	–			–		.3

2014/2015 Actions
Severance and related costs	4.8		–			(1.6		)	–			–		3.2

Prior actions
Severance and related costs	.7		(.1		)	–			–			–		.6

Total	$	14.1	$	5.6		$	(12.7	)	$	(.1	)	$	.2	$	7.1

The table below shows the total amount of restructuring charges incurred by reportable segment and Corporate:

	Three Months Ended
(In millions)	April 2, 2016		April 4, 2015
Restructuring charges by reportable segment and Corporate
Pressure-sensitive Materials	$	2.1	$	7.3
Retail Branding and Information Solutions	3.4		3.4
Vancive Medical Technologies	.1		1.1
Corporate	–		2.1

Total	$	5.6	$	13.9

Financial Instruments

3 Months Ended

Apr. 02, 2016

Financial Instruments

Financial Instruments

Note 10. 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.

As of April 2, 2016, the aggregate U.S. dollar equivalent notional value of our outstanding commodity contracts and foreign exchange contracts was $2.6 million and $1.37 billion, respectively.

We recognize all derivative instruments as either assets or liabilities at fair value in the unaudited Condensed Consolidated Balance Sheets. We designate commodity forward contracts on forecasted purchases of commodities and foreign exchange contracts on forecasted transactions as cash flow hedges and designate 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 April 2, 2016:

	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	6.3	Other current liabilities	$	8.7
Commodity contracts	Other current assets	–		Other current liabilities	.6
		$	6.3		$	9.3

The following table provides the fair value and balance sheet locations of derivatives as of January 2, 2016:

	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	5.6	Other current liabilities	$	4.5
Commodity contracts	Other current assets	–		Other current liabilities	.7

		$	5.6		$	5.2

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 material net impact to income.

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

		Three Months Ended
(In millions)	Location of Net Gains (Losses) in Income	April 2, 2016			April 4, 2015
Foreign exchange contracts	Cost of products sold	$	1.0		$	1.4
Foreign exchange contracts	Marketing, general and administrative expense	(4.5		)	11.7


		$	(3.5	)	$	13.1

Cash Flow Hedges

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of “Accumulated other comprehensive loss” and reclassified into earnings in the same period(s) during which the hedged transaction impacts earnings. Gains and losses on the 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:

	Three Months Ended
(In millions)	April 2, 2016			April 4, 2015
Foreign exchange contracts	$	(1.5	)	$	1.5
Commodity contracts	(.2		)	(.5		)

	$	(1.7	)	$	1.0

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 for the three months ended April 2, 2016 and April 4, 2015, respectively.

As of April 2, 2016, we expected a net loss of approximately $4 million to be reclassified from “Accumulated other comprehensive loss” to earnings within the next 12 months. See Note 13, “Comprehensive Income,” 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.

+ References

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+ Details

Taxes Based on Income

3 Months Ended

Apr. 02, 2016

Taxes Based on Income

Taxes Based On Income

Note 11. Taxes Based on Income

The following table summarizes our income before taxes, provision for income taxes, and effective tax rate:

	Three Months Ended
(In millions)	April 2, 2016			April 4, 2015
Income before taxes	$	123.5		$	100.0
Provision for income taxes	33.9			28.1

Effective tax rate	27.4		%	28.1		%

The effective tax rate for the three months ended April 2, 2016 and April 4, 2015 included $2.6 million and $3.3 million, respectively, of a discrete tax benefit due to decreases in certain tax reserves, including interest and penalties, as a result of closing tax years. Additionally, the effective tax rate for the three months ended April 4, 2015 included $1.6 million of a net benefit related to changes in the effective tax rates in certain foreign municipalities.

The effective tax rate for the three months ended April 2, 2016 compared to the same period last year reflects a decrease in tax expense related to favorable changes in the geographic mix of income before taxes and certain tax reserves.

The amount of income taxes we pay is subject to ongoing audits by taxing jurisdictions around the world. Our estimate of the potential outcome of any uncertain tax issue is subject to our assessment of the relevant risks, facts, and circumstances existing at the time. We believe that we have adequately provided for reasonably foreseeable outcomes related to these matters. However, our future results may include favorable or unfavorable adjustments to our estimated tax liabilities in the period the assessments are made or resolved, which may impact our effective tax rate. With some exceptions, we and our subsidiaries are no longer subject to income tax examinations by tax authorities for years prior to 2006.

It is reasonably possible that, during the next 12 months, we may realize a decrease in our uncertain tax positions, including interest and penalties, of approximately $9 million, primarily as a result of closing tax years.

Net Income Per Common Share

3 Months Ended

Apr. 02, 2016

Net Income Per Common Share

Net Income Per Common Share

Note 12. Net Income Per Common Share

Net income per common share was computed as follows:

	Three Months Ended
(In millions, except per share amounts)	April 2, 2016		April 4, 2015
(A)Net income available to common shareholders	$	89.6	$	71.9

(B)Weighted average number of common shares outstanding	89.4		90.6
Dilutive shares (additional common shares issuable under stock-based awards)	1.7		1.8

(C)Weighted average number of common shares outstanding, assuming dilution	91.1		92.4

Net income per common share (A) ÷ (B)	$	1.00	$	.79

Net income per common share, assuming dilution (A) ÷ (C)	$	.98	$	.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 .5 million shares and 1 million shares for the three months ended April 2, 2016 and April 4, 2015, respectively.

Comprehensive Income

3 Months Ended

Apr. 02, 2016

Comprehensive Income

Comprehensive Income

Note 13. Comprehensive Income

The changes in “Accumulated other comprehensive loss” (net of tax) for the three-month period ended April 2, 2016 were as follows:

(In millions)	Foreign Currency Translation			Pension and Other Postretirement Benefits			Cash Flow Hedges			Total
Balance as of January 2, 2016	$	(158.9	)	$	(521.6	)	$	(2.5	)	$	(683.0	)
Other comprehensive income (loss) before reclassifications, net of tax	18.9			–			(1.3		)	17.6
Reclassifications to net income, net of tax	–			4.2			–			4.2

Net current-period other comprehensive income (loss), net of tax	18.9			4.2			(1.3		)	21.8

Balance as of April 2, 2016	$	(140.0	)	$	(517.4	)	$	(3.8	)	$	(661.2	)

The changes in “Accumulated other comprehensive loss” (net of tax) for the three-month period ended April 4, 2015 were as follows:

(In millions)	Foreign Currency Translation			Pension and Other Postretirement Benefits			Cash Flow Hedges			Total
Balance as of January 3, 2015	$	(19.9	)	$	(525.6	)	$	–		$	(545.5	)
Other comprehensive loss before reclassifications, net of tax	(72.0		)	(1.0		)	–			(73.0		)
Reclassifications to net income, net of tax	–			6.4			(.7		)	5.7

Net current-period other comprehensive (loss) income, net of tax	(72.0		)	5.4			(.7		)	(67.3		)

Balance as of April 4, 2015	$	(91.9	)	$	(520.2	)	$	(.7	)	$	(612.8	)

The amounts reclassified from “Accumulated other comprehensive loss” to increase (decrease) net income were as follows:

	Three Months Ended
(In millions)	April 2, 2016			April 4, 2015			Affected Line Item in the Statements Where Net Income is Presented
Cash flow hedges:
Foreign exchange contracts	$	.3		$	1.5		Cost of products sold
Commodity contracts	(.3		)	(.5		)	Cost of products sold

	–			1.0			Total before tax
	–			(.3		)	Provision for income taxes

	–			.7			Net of tax
Pension and other postretirement benefits(1)	(6.1		)	(7.6		)
	1.9			1.2			Provision for income taxes

	(4.2		)	(6.4		)	Net of tax

Total reclassifications for the period	$	(4.2	)	$	(5.7	)	Total, net of tax

(1)

See Note 6, “Pension and Other Postretirement Benefits,” for more information.

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

	Three Months Ended
(In millions)	April 2, 2016			April 4, 2015
Pension and other postretirement benefits	$	1.9		$	2.2
Cash flow hedges	(.4		)	(.3		)

Income tax expense allocated to components of other comprehensive income	$	1.5		$	1.9

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
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-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Fair Value Measurements

3 Months Ended

Apr. 02, 2016

Fair Value Measurements

Fair Value Measurements

Note 14. 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 April 2, 2016:

			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	$	21.7	$	14.9	$	6.8	$	–
Derivative assets	6.3		–		6.3		–
Bank drafts	14.1		14.1		–		–

Liabilities
Derivative liabilities	$	9.3	$	.6	$	8.7	$	–

The following table provides the assets and liabilities carried at fair value, measured on a recurring basis, as of January 2, 2016:

			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	$	17.9	$	11.3	$	6.6	$	–
Derivative assets	5.6		–		5.6		–
Bank drafts	24.8		24.8		–		–

Liabilities
Derivative liabilities	$	5.2	$	.7	$	4.5	$	–

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 April 2, 2016, trading securities of $.2 million and $21.5 million were included in “Cash and cash equivalents” and “Other current assets,” respectively, in the unaudited Condensed Consolidated Balance Sheets. As of January 2, 2016, trading securities of $.3 million and $17.6 million were included in “Cash and cash equivalents” and “Other current assets,” respectively, in the unaudited Condensed Consolidated Balance Sheets. Derivatives that are exchange-traded are measured at fair value using quoted market prices and classified within Level 1 of the valuation hierarchy. Derivatives measured based on foreign exchange rate inputs that are readily available in public markets are classified within Level 2 of the valuation hierarchy. Bank drafts (maturities greater than 90 days) are valued at face value due to the short-term nature of these instruments and were included in “Other current assets” in the unaudited Condensed Consolidated Balance Sheets.

- 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

Commitments and Contingencies

3 Months Ended

Apr. 02, 2016

COMMITMENTS

Commitments and Contingencies

Note 15. Commitments and Contingencies

Legal Proceedings

We are involved in various lawsuits, claims, inquiries, and other regulatory and compliance matters, most of which are routine to the nature of our business. 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 were to become available that allowed us to reasonably estimate a range of potential expenses in an amount higher or lower than what we have accrued, we would adjust our accrued liabilities accordingly. Additional lawsuits, claims, inquiries, and other regulatory and compliance matters could arise in the future. The range of expenses for resolving any future matters would be assessed as they arise; until then, a range of potential expenses for such resolution cannot be determined. Based upon current information, we believe that the impact of the resolution of these matters would not be, individually or in the aggregate, material to our financial position, results of operations or cash flows.

Environmental

As of April 2, 2016, 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 thirteen waste disposal or waste recycling sites that are the subject of separate investigations or proceedings concerning alleged soil and/or groundwater contamination. No settlement of our liability related to any of the sites has been agreed upon. We are participating with other PRPs at these sites and anticipate that our share of remediation costs will be determined pursuant to agreements that we negotiate with the EPA or other governmental authorities.

We have accrued liabilities for sites where it is probable that a loss or cost will be incurred and the amount of loss or cost can be reasonably estimated. These estimates could change as a result of changes in planned remedial actions, remediation technologies, site conditions, the estimated time to complete remediation, environmental laws and regulations, and other factors. Because of the uncertainties associated with environmental assessment and remediation activities, future expenses to remediate these sites could be higher than the liabilities we have accrued; however, we are unable to reasonably estimate a range of potential expenses. If information were to become available that allowed us to reasonably estimate a range of potential expenses in an amount higher or lower than what we have accrued, we would adjust our environmental liabilities accordingly. In addition, we may be identified as a PRP at additional sites in the future. The range of expenses for remediation of any future-identified sites would be addressed as they arise; until then, a range of expenses for such remediation cannot be determined.

The activity for the three months ended April 2, 2016 related to our environmental liabilities was as follows:

(In millions)
Balance at January 2, 2016	$	17.7
Charges (reversals), net	1.5
Payments	(1.9		)

Balance at April 2, 2016	$	17.3

As of April 2, 2016 and January 2, 2016, approximately $10 million and $7 million of the balance was classified as short-term and included in “Other current liabilities” in the unaudited Condensed Consolidated Balance Sheets, respectively.

Segment Information

3 Months Ended

Apr. 02, 2016

Segment Information

Segment Information

Note 16. Segment Information

Financial information by reportable segment is set forth below:

	Three Months Ended
(In millions)		April 2, 2016			April 4, 2015
Net sales to unaffiliated customers
Pressure-sensitive Materials		$	1,092.0		$	1,120.6
Retail Branding and Information Solutions		378.1			388.1
Vancive Medical Technologies		15.4			19.3

Net sales to unaffiliated customers		$	1,485.5		$	1,528.0

Intersegment sales
Pressure-sensitive Materials		$	16.7		$	15.7
Retail Branding and Information Solutions		.6			.6
Vancive Medical Technologies		.2			1.6

Intersegment sales		$	17.5		$	17.9

Income before taxes
Pressure-sensitive Materials		$	138.5		$	122.9
Retail Branding and Information Solutions		26.1			19.2
Vancive Medical Technologies		(.9		)	(2.1		)
Corporate expense		(24.9		)	(24.7		)
Interest expense		(15.3		)	(15.3		)

Income before taxes		$	123.5		$	100.0

Other expense, net by reportable segment
Pressure-sensitive Materials		$	2.1		$	5.6
Retail Branding and Information Solutions		3.4			5.5
Vancive Medical Technologies		.1			1.1
Corporate		–			2.1

Other expense, net		$	5.6		$	14.3

Other expense, net by type
Restructuring charges:
Severance and related costs		$	5.2		$	13.5
Asset impairment charges and lease cancellation costs		.4			.4
Other items:
Impairment charges on assets held for sale		–			2.0
Legal settlement		–			(.5		)
Gain on sale of asset		–			(1.7		)
Divestiture-related costs		–			.6

Other expense, net		$	5.6		$	14.3

- 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
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+ Details

Recent Accounting Requirements	3 Months Ended
Recent Accounting Requirements	Apr. 02, 2016
Recent Accounting Requirements
Recent Accounting Requirements	Note 17. Recent Accounting Requirements In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance will be effective for fiscal years and interim periods beginning after December 15, 2016, and early adoption is permitted. Different components of the guidance require prospective, retrospective and/or modified retrospective adoption. We are currently assessing the timing of our adoption and the impact of this standard on our financial position, results of operations, cash flows, and disclosures. In March 2016, the FASB issued guidance on accounting for leases that requires lessees to recognize most leases on their balance sheets for the rights and obligations created by those leases. This guidance also requires enhanced disclosures regarding the amount, timing, and uncertainty of cash flows arising from leases and will be effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective approach is required for adoption with respect to all leases that exist at or commence after the date of initial application with an option to use certain practical expedients. We are currently assessing the impact of this standard on our financial position, results of operations, cash flows, and disclosures. In July 2015, the FASB amended guidance to simplify the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance is effective for annual periods beginning after December 15, 2016, and interim periods within those fiscal years. We elected to early adopt this amended guidance in the first quarter of 2016 prospectively. The adoption did not have an impact on our financial position, results of operations, cash flows, or disclosures. In August 2014, the FASB issued a new standard that requires an entity to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. Under this new standard, substantial doubt exists when it is probable that the entity will be unable to meet its obligations as they become due within one year of the date the financial statements are issued. If applicable, certain disclosures are required, including management’s plans to mitigate those relevant conditions or events to alleviate the substantial doubt. This standard is effective for annual periods and interim periods within those annual periods ending after December 15, 2016. Early adoption is permitted. We do not expect that adoption of this standard will have any impact on our financial position, results of operations, cash flows, or disclosures. In May 2014, and in subsequent updates, the FASB issued revised guidance on revenue recognition. This revised guidance provides a single comprehensive model for accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This revised guidance will require an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update creates a five-step model that requires entities to exercise judgment when considering the terms of contract(s), which includes (i) identifying the contract(s) with the customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the separate performance obligations, and (v) recognizing revenue when each performance obligation is satisfied. This revised guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including qualitative and quantitative information about contracts with customers, significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. This revised guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, and can be applied retrospectively either to each prior reporting period presented or with the cumulative effect of adoption recognized at the date of initial application. Early adoption is permitted for fiscal periods beginning after December 15, 2016. Based on the information we have evaluated to date, we do not anticipate that the adoption of this revised guidance will have a significant impact on our financial position, results of operations, or cash flows.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305

+ Details

Subsequent Events	3 Months Ended
Subsequent Events	Apr. 02, 2016
Subsequent Events
Subsequent Events	Note 18. Subsequent Event In April 2016, we entered into an agreement to acquire the European business of MACtac from Platinum Equity for a purchase price of €200 million, including assumed debt. The purchase price is subject to adjustment in accordance with the terms of the agreement. The acquisition is expected to close within three months, subject to customary conditions and regulatory approvals in certain jurisdictions.

General (Policies)	3 Months Ended
General (Policies)	Apr. 02, 2016
General
Fiscal Period	Fiscal Periods The first quarters of 2016 and 2015 consisted of thirteen-week periods ending April 2, 2016 and April 4, 2015, respectively.

Prior Period Financial Statement Revision (Tables)

3 Months Ended

Apr. 02, 2016

Prior Period Adjustment

Summary of Previously Stated and Corrected Balances of Consolidated Balance Sheet, Consolidated Statements of Income, Consolidated Statement of Comprehensive Income and Consolidated Statements of Cash Flows

The effects of this revision on our unaudited Condensed Consolidated Statements of Income were as follows:

	Three Months Ended April 4, 2015
(In millions)	As Previously Reported		Adjustment			As Revised
Marketing, general and administrative expense	$	300.9	$	(.5	)	$	300.4
Income before taxes	99.5		.5			100.0
Provision for income taxes	27.9		.2			28.1
Net income	71.6		.3			71.9
Per share amounts:
Net income per common share	$	.79	$	–		$	.79
Net income per common share, assuming dilution	.77		.01			.78

The effects of the revision on our unaudited Condensed Consolidated Statements of Comprehensive Income were as follows:

	Three Months Ended April 4, 2015
(In millions)	As Previously Reported			Adjustment			As Revised
Net income	$	71.6		$	.3		$	71.9
Foreign currency translation	(72.1		)	.1			(72.0		)
Pension and other postretirement benefits	6.4			(1.0		)	5.4
Other comprehensive loss, net of tax	(66.4		)	(.9		)	(67.3		)
Total comprehensive income, net of tax	5.2			(.6		)	4.6

The effects of the revision on our unaudited Condensed Consolidated Statements of Cash Flows were as follows:

	Three Months Ended April 4, 2015
(In millions)	As Previously Reported			Adjustment			As Revised
Net cash (used in) provided by operating activities	$	8.3		$	(3.7	)	$	4.6
Increase (decrease) in cash and cash equivalents	(14.5		)	(3.7		)	(18.2		)
Cash and cash equivalents, beginning of year	227.0			(19.8		)	207.2
Cash and cash equivalents, end of period	212.5			(23.5		)	189.0

Inventories (Tables)

3 Months Ended

Apr. 02, 2016

Inventories

Net inventories

(In millions)	April 2, 2016		January 2, 2016
Raw materials	$	197.9	$	180.5
Work-in-progress	155.5		143.0
Finished goods	166.1		155.2

Inventories, net	$	519.5	$	478.7

Goodwill (Tables)

3 Months Ended

Apr. 02, 2016

Goodwill.

Changes in net carrying amount of goodwill

(In millions)	Pressure-sensitive Materials		Retail Branding and Information Solutions		Total
Goodwill as of January 2, 2016	$	277.9	$	408.3	$	686.2
Translation adjustments	6.6		2.3		8.9

Goodwill as of April 2, 2016	$	284.5	$	410.6	$	695.1

Pension and Other Postretirement Benefits (Tables)

3 Months Ended

Apr. 02, 2016

PENSION AND OTHER POSTRETIREMENT BENEFITS.

Schedule of components of net periodic benefit cost (credit)

	Pension Benefits												U.S. Postretirement Health Benefits
	Three Months Ended												Three Months Ended
	April 2, 2016						April 4, 2015						April 2, 2016			April 4, 2015
(In millions)	U.S.			Int’l			U.S.			Int’l
Service cost	$	.1		$	3.4		$	.1		$	3.7		$	–		$	–
Interest cost	9.8			4.1			11.2			4.5			.1			.1
Expected return on plan assets	(11.4		)	(5.3		)	(12.9		)	(5.5		)	–			–
Recognized net actuarial loss	4.4			1.8			5.1			2.5			.5			.6
Amortization of prior service cost (credit)	.3			(.1		)	.3			(.1		)	(.8		)	(.8		)

Net periodic benefit cost (credit)	$	3.2		$	3.9		$	3.8		$	5.1		$	(.2	)	$	(.1	)

Cost Reduction Actions (Tables)

3 Months Ended

Apr. 02, 2016

Cost Reduction Actions

Restructuring charges and payments

(In millions)	Accrual at January 2, 2016		Charges (Reversals), net			Cash Payments			Non-cash Impairment			Foreign Currency Translation		Accrual at April 2, 2016
2015/2016 Actions
Severance and related costs	$	8.4	$	5.3		$	(10.9	)	$	–		$	.2	$	3.0
Asset impairment charges	–		.1			–			(.1		)	–		–
Lease cancellation costs	.2		.3			(.2		)	–			–		.3

2014/2015 Actions
Severance and related costs	4.8		–			(1.6		)	–			–		3.2

Prior actions
Severance and related costs	.7		(.1		)	–			–			–		.6

Total	$	14.1	$	5.6		$	(12.7	)	$	(.1	)	$	.2	$	7.1

Total amount of restructuring costs incurred by reportable segment and Corporate

	Three Months Ended
(In millions)	April 2, 2016		April 4, 2015
Restructuring charges by reportable segment and Corporate
Pressure-sensitive Materials	$	2.1	$	7.3
Retail Branding and Information Solutions	3.4		3.4
Vancive Medical Technologies	.1		1.1
Corporate	–		2.1

Total	$	5.6	$	13.9

Financial Instruments (Tables)

3 Months Ended

Apr. 02, 2016

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 April 2, 2016:

	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	6.3	Other current liabilities	$	8.7
Commodity contracts	Other current assets	–		Other current liabilities	.6
		$	6.3		$	9.3

The following table provides the fair value and balance sheet locations of derivatives as of January 2, 2016:

	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	5.6	Other current liabilities	$	4.5
Commodity contracts	Other current assets	–		Other current liabilities	.7

		$	5.6		$	5.2

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

		Three Months Ended
(In millions)	Location of Net Gains (Losses) in Income	April 2, 2016			April 4, 2015
Foreign exchange contracts	Cost of products sold	$	1.0		$	1.4
Foreign exchange contracts	Marketing, general and administrative expense	(4.5		)	11.7


		$	(3.5	)	$	13.1

Components of the gain (loss) recognized in income related to cash flow hedges

	Three Months Ended
(In millions)	April 2, 2016			April 4, 2015
Foreign exchange contracts	$	(1.5	)	$	1.5
Commodity contracts	(.2		)	(.5		)

	$	(1.7	)	$	1.0

Taxes Based on Income (Tables)

3 Months Ended

Apr. 02, 2016

Taxes Based on Income

Income before taxes, provision for income taxes, and effective tax rate

	Three Months Ended
(In millions)	April 2, 2016			April 4, 2015
Income before taxes	$	123.5		$	100.0
Provision for income taxes	33.9			28.1

Effective tax rate	27.4		%	28.1		%

Net Income Per Common Share (Tables)

3 Months Ended

Apr. 02, 2016

Net Income Per Common Share

Schedule of net income per common share

	Three Months Ended
(In millions, except per share amounts)	April 2, 2016		April 4, 2015
(A)Net income available to common shareholders	$	89.6	$	71.9

(B)Weighted average number of common shares outstanding	89.4		90.6
Dilutive shares (additional common shares issuable under stock-based awards)	1.7		1.8

(C)Weighted average number of common shares outstanding, assuming dilution	91.1		92.4

Net income per common share (A) ÷ (B)	$	1.00	$	.79

Net income per common share, assuming dilution (A) ÷ (C)	$	.98	$	.78

Comprehensive Income (Tables)

3 Months Ended

Apr. 02, 2016

Comprehensive Income

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

(In millions)	Foreign Currency Translation			Pension and Other Postretirement Benefits			Cash Flow Hedges			Total
Balance as of January 2, 2016	$	(158.9	)	$	(521.6	)	$	(2.5	)	$	(683.0	)
Other comprehensive income (loss) before reclassifications, net of tax	18.9			–			(1.3		)	17.6
Reclassifications to net income, net of tax	–			4.2			–			4.2

Net current-period other comprehensive income (loss), net of tax	18.9			4.2			(1.3		)	21.8

Balance as of April 2, 2016	$	(140.0	)	$	(517.4	)	$	(3.8	)	$	(661.2	)

(In millions)	Foreign Currency Translation			Pension and Other Postretirement Benefits			Cash Flow Hedges			Total
Balance as of January 3, 2015	$	(19.9	)	$	(525.6	)	$	–		$	(545.5	)
Other comprehensive loss before reclassifications, net of tax	(72.0		)	(1.0		)	–			(73.0		)
Reclassifications to net income, net of tax	–			6.4			(.7		)	5.7

Net current-period other comprehensive (loss) income, net of tax	(72.0		)	5.4			(.7		)	(67.3		)

Balance as of April 4, 2015	$	(91.9	)	$	(520.2	)	$	(.7	)	$	(612.8	)

Schedule of amounts reclassified from "Accumulated other comprehensive loss" to increase (decrease) income from continuing operations

	Three Months Ended
(In millions)	April 2, 2016			April 4, 2015			Affected Line Item in the Statements Where Net Income is Presented
Cash flow hedges:
Foreign exchange contracts	$	.3		$	1.5		Cost of products sold
Commodity contracts	(.3		)	(.5		)	Cost of products sold

	–			1.0			Total before tax
	–			(.3		)	Provision for income taxes

	–			.7			Net of tax
Pension and other postretirement benefits(1)	(6.1		)	(7.6		)
	1.9			1.2			Provision for income taxes

	(4.2		)	(6.4		)	Net of tax

Total reclassifications for the period	$	(4.2	)	$	(5.7	)	Total, net of tax

(1)

See Note 6, “Pension and Other Postretirement Benefits,” for more information.

Income tax expense (benefit) allocated to each component of other comprehensive loss (income):

	Three Months Ended
(In millions)	April 2, 2016			April 4, 2015
Pension and other postretirement benefits	$	1.9		$	2.2
Cash flow hedges	(.4		)	(.3		)

Income tax expense allocated to components of other comprehensive income	$	1.5		$	1.9

Fair Value Measurements (Tables)

3 Months Ended

Apr. 02, 2016

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 April 2, 2016:

			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	$	21.7	$	14.9	$	6.8	$	–
Derivative assets	6.3		–		6.3		–
Bank drafts	14.1		14.1		–		–

Liabilities
Derivative liabilities	$	9.3	$	.6	$	8.7	$	–

The following table provides the assets and liabilities carried at fair value, measured on a recurring basis, as of January 2, 2016:

			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	$	17.9	$	11.3	$	6.6	$	–
Derivative assets	5.6		–		5.6		–
Bank drafts	24.8		24.8		–		–

Liabilities
Derivative liabilities	$	5.2	$	.7	$	4.5	$	–

Commitments and Contingencies (Tables)

3 Months Ended

Apr. 02, 2016

COMMITMENTS

Costs of Environmental Liabilities with Remediation

(In millions)
Balance at January 2, 2016	$	17.7
Charges (reversals), net	1.5
Payments	(1.9		)

Balance at April 2, 2016	$	17.3

Segment Information (Tables)

3 Months Ended

Apr. 02, 2016

Segment Information

Financial information, by reportable segment from continuing operations

	Three Months Ended
(In millions)		April 2, 2016			April 4, 2015
Net sales to unaffiliated customers
Pressure-sensitive Materials		$	1,092.0		$	1,120.6
Retail Branding and Information Solutions		378.1			388.1
Vancive Medical Technologies		15.4			19.3

Net sales to unaffiliated customers		$	1,485.5		$	1,528.0

Intersegment sales
Pressure-sensitive Materials		$	16.7		$	15.7
Retail Branding and Information Solutions		.6			.6
Vancive Medical Technologies		.2			1.6

Intersegment sales		$	17.5		$	17.9

Income before taxes
Pressure-sensitive Materials		$	138.5		$	122.9
Retail Branding and Information Solutions		26.1			19.2
Vancive Medical Technologies		(.9		)	(2.1		)
Corporate expense		(24.9		)	(24.7		)
Interest expense		(15.3		)	(15.3		)

Income before taxes		$	123.5		$	100.0

Other expense, net by reportable segment
Pressure-sensitive Materials		$	2.1		$	5.6
Retail Branding and Information Solutions		3.4			5.5
Vancive Medical Technologies		.1			1.1
Corporate		–			2.1

Other expense, net		$	5.6		$	14.3

Other expense, net by type
Restructuring charges:
Severance and related costs		$	5.2		$	13.5
Asset impairment charges and lease cancellation costs		.4			.4
Other items:
Impairment charges on assets held for sale		–			2.0
Legal settlement		–			(.5		)
Gain on sale of asset		–			(1.7		)
Divestiture-related costs		–			.6

Other expense, net		$	5.6		$	14.3

General (Details)	3 Months Ended
General (Details)	Apr. 02, 2016	Apr. 04, 2015
General
Length of fiscal period	91 days	91 days

Prior Period Financial Statement Revision - Statements of Income (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Apr. 02, 2016	Apr. 04, 2015	Jan. 02, 2016
Accounting Changes and Error Corrections
Addition to long-term retirement benefits and other liabilities			$ 24.0
Marketing, general and administrative expense	$ 278.2	$ 300.4
Income before taxes	123.5	100.0
Provision for income taxes	33.9	28.1
Net income	$ 89.6	$ 71.9
Net income (loss) per common share:
Net income per common share	$ 1.00	$ 0.79
Net income (loss) per common share, assuming dilution:
Net income per common share, assuming dilution	$ 0.98	$ 0.78
As Previously Reported
Accounting Changes and Error Corrections
Marketing, general and administrative expense		$ 300.9
Income before taxes		99.5
Provision for income taxes		27.9
Net income		$ 71.6
Net income (loss) per common share:
Net income per common share		$ 0.79
Net income (loss) per common share, assuming dilution:
Net income per common share, assuming dilution		$ 0.77
Adjustments
Accounting Changes and Error Corrections
Marketing, general and administrative expense		$ (0.5)
Income before taxes		0.5
Provision for income taxes		0.2
Net income		$ 0.3
Net income (loss) per common share, assuming dilution:
Net income per common share, assuming dilution		$ 0.01

Prior Period Financial Statement Revision - Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Accounting Changes and Error Corrections
Net income	$ 89.6	$ 71.9
Foreign currency translation	18.9	(72.0)
Pension and other postretirement benefits	4.2	5.4
Other comprehensive loss, net of tax	21.8	(67.3)
Total comprehensive income, net of tax	$ 111.4	4.6
As Previously Reported
Accounting Changes and Error Corrections
Net income		71.6
Foreign currency translation		(72.1)
Pension and other postretirement benefits		6.4
Other comprehensive loss, net of tax		(66.4)
Total comprehensive income, net of tax		5.2
Adjustments
Accounting Changes and Error Corrections
Net income		0.3
Foreign currency translation		0.1
Pension and other postretirement benefits		(1.0)
Other comprehensive loss, net of tax		(0.9)
Total comprehensive income, net of tax		$ (0.6)

Prior Period Financial Statement Revision - Statements of Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Accounting Changes and Error Corrections
Net cash (used in) provided by operating activities	$ (6.3)	$ 4.6
Increase (decrease) in cash and cash equivalents	10.8	(18.2)
Cash and cash equivalents, beginning of year	158.8	207.2
Cash and cash equivalents, end of period	$ 169.6	189.0
As Previously Reported
Accounting Changes and Error Corrections
Net cash (used in) provided by operating activities		8.3
Increase (decrease) in cash and cash equivalents		(14.5)
Cash and cash equivalents, beginning of year		227.0
Cash and cash equivalents, end of period		212.5
Adjustments
Accounting Changes and Error Corrections
Net cash (used in) provided by operating activities		(3.7)
Increase (decrease) in cash and cash equivalents		(3.7)
Cash and cash equivalents, beginning of year		(19.8)
Cash and cash equivalents, end of period		$ (23.5)

Inventories (Details) - USD ($) $ in Millions	Apr. 02, 2016	Jan. 02, 2016
Inventories
Raw materials	$ 197.9	$ 180.5
Work-in-progress	155.5	143.0
Finished goods	166.1	155.2
Inventories, net	$ 519.5	$ 478.7

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Apr. 02, 2016	Jan. 02, 2016
Changes in net carrying amount of goodwill
Goodwill, Beginning Balance	$ 686.2
Translation adjustments	8.9
Goodwill, Ending Balance	695.1
Pressure-sensitive Materials
Changes in net carrying amount of goodwill
Goodwill, Beginning Balance	277.9
Translation adjustments	6.6
Goodwill, Ending Balance	284.5
Retail Branding and Information Solutions
Changes in net carrying amount of goodwill
Goodwill, Beginning Balance	408.3
Translation adjustments	2.3
Goodwill, Ending Balance	410.6
Accumulated impairment losses	820.0	$ 820.0
Vancive Medical Technologies
Changes in net carrying amount of goodwill
Goodwill, Ending Balance	$ 0.0

Debt and Capital Leases (Details) - USD ($) $ in Millions	3 Months Ended
Debt and Capital Leases (Details) - USD ($) $ in Millions	Apr. 02, 2016	Mar. 31, 2016	Jan. 02, 2016
DEBT AND CAPITAL LEASES
Fair value of debt	$ 1,280.0		$ 1,080.0
Revolving credit facility
Debt
Maximum borrowing capacity	$ 700.0
Covenants compliance	we were in compliance with our financial covenants.
Commercial Paper
Debt
Maximum borrowing capacity		$ 500.0

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions		3 Months Ended
	Jun. 30, 2016	Apr. 02, 2016	Apr. 04, 2015
U.S.
Components of net periodic benefit cost (credit)
Service cost		$ 0.1	$ 0.1
Interest cost		9.8	11.2
Expected return on plan assets		(11.4)	(12.9)
Recognized net actuarial loss		4.4	5.1
Amortization of prior service cost (credit)		0.3	0.3
Net periodic benefit cost (credit)		3.2	3.8
U.S. \| Forecast
Defined Benefit Plans
Pension obligation expected to be settled	$ 70.0
One-time non-cash pre-tax charge related to the settlement	$ 40.0
Int'l
Components of net periodic benefit cost (credit)
Service cost		3.4	3.7
Interest cost		4.1	4.5
Expected return on plan assets		(5.3)	(5.5)
Recognized net actuarial loss		1.8	2.5
Amortization of prior service cost (credit)		(0.1)	(0.1)
Net periodic benefit cost (credit)		3.9	5.1
U.S. Postretirement Health Benefits
Components of net periodic benefit cost (credit)
Interest cost		0.1	0.1
Recognized net actuarial loss		0.5	0.6
Amortization of prior service cost (credit)		(0.8)	(0.8)
Net periodic benefit cost (credit)		$ (0.2)	$ (0.1)

Research and Development (Details) - USD ($) $ in Millions	3 Months Ended
Research and Development (Details) - USD ($) $ in Millions	Apr. 02, 2016	Apr. 04, 2015
Marketing, general and administrative expense
Research and development expense	$ 22.3	$ 25.6

Long-Term Incentive Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Marketing, general and administrative expense
Stock-Based Compensation
Stock-based compensation expense	$ 7.5	$ 7.4
Cash-based LTI awards	9.5	$ 5.2
Stock-based awards
Stock-Based Compensation
Unrecognized compensation cost related to share based compensation cost	$ 52.0
Unrecognized compensation cost weighted average recognition period	3 years

Cost Reduction Actions (Details) $ in Millions	3 Months Ended	12 Months Ended
Cost Reduction Actions (Details) $ in Millions	Apr. 02, 2016 USD ($) item	Jan. 02, 2016 USD ($) item
Restructuring Charges
Charges (Reversals), net \| $	$ 5.6
2015/2016 Actions
Restructuring Charges
Charges (Reversals), net \| $	$ 5.7	$ 26.1
Number of positions reduced as a result of Cost Reduction Actions \| item	65	430
2014/2015 Actions
Restructuring Charges
Charges (Reversals), net \| $		$ 33.4
Number of positions reduced as a result of Cost Reduction Actions \| item		605
Number of positions remaining \| item	85

Cost Reduction Actions - Restructuring Charges and Payments (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Apr. 02, 2016	Apr. 04, 2015	Jan. 02, 2016
Cost Reduction Actions
Beginning Balance	$ 14.1
Charges (Reversals), net	5.6
Cash payments	(12.7)
Non-cash Impairment	(0.1)
Foreign Currency translation	0.2
Ending Balance	7.1		$ 14.1
Severance and related costs
Cost Reduction Actions
Charges (Reversals), net	5.2	$ 13.5
2015/2016 Actions
Cost Reduction Actions
Charges (Reversals), net	5.7		26.1
2015/2016 Actions \| Severance and related costs
Cost Reduction Actions
Beginning Balance	8.4
Charges (Reversals), net	5.3
Cash payments	(10.9)
Foreign Currency translation	0.2
Ending Balance	3.0		8.4
2015/2016 Actions \| Asset impairment charges
Cost Reduction Actions
Charges (Reversals), net	0.1
Non-cash Impairment	(0.1)
2015/2016 Actions \| Lease cancellation costs
Cost Reduction Actions
Beginning Balance	0.2
Charges (Reversals), net	0.3
Cash payments	(0.2)
Ending Balance	0.3		0.2
2014/2015 Actions
Cost Reduction Actions
Charges (Reversals), net			33.4
2014/2015 Actions \| Severance and related costs
Cost Reduction Actions
Beginning Balance	4.8
Cash payments	(1.6)
Ending Balance	3.2		4.8
Prior actions \| Severance and related costs
Cost Reduction Actions
Beginning Balance	0.7
Charges (Reversals), net	(0.1)
Ending Balance	$ 0.6		$ 0.7

Cost Reduction Actions - Reportable Segment and Corporate (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Restructuring Charges
Restructuring charges	$ 5.6
Other expense, net.
Restructuring Charges
Restructuring charges	5.6	$ 13.9
Pressure-sensitive Materials \| Other expense, net.
Restructuring Charges
Restructuring charges	2.1	7.3
Retail Branding and Information Solutions \| Other expense, net.
Restructuring Charges
Restructuring charges	3.4	3.4
Vancive Medical Technologies \| Other expense, net.
Restructuring Charges
Restructuring charges	$ 0.1	1.1
Corporate \| Other expense, net.
Restructuring Charges
Restructuring charges		$ 2.1

Financial Instruments (Details) - Cash Flow Hedging $ in Millions	3 Months Ended
	Apr. 02, 2016 USD ($)
Financial Instruments
Maximum length of time hedged in cash flow hedge	36 months
Cash Flow Hedge Loss to be Reclassified within Twelve Months	$ 4.0
Foreign exchange contracts
Financial Instruments
Notional amount	1,370.0
Commodity contracts
Financial Instruments
Notional amount	$ 2.6

Financial Instruments - Fair Value (Details) - USD ($) $ in Millions	Apr. 02, 2016	Jan. 02, 2016
Derivatives, Fair Value
Asset	$ 6.3	$ 5.6
Liability	9.3	5.2
Foreign exchange contracts \| Other current assets
Derivatives, Fair Value
Asset	6.3	5.6
Foreign exchange contracts \| Other current liabilities
Derivatives, Fair Value
Liability	8.7	4.5
Commodity contracts \| Other current liabilities
Derivatives, Fair Value
Liability	$ 0.6	$ 0.7

Financial Instruments - Net Gain (Loss) Recognized in Income (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Fair Value Hedges
Gain (loss) in income	$ (3.5)	$ 13.1
Foreign exchange contracts \| Cost of products sold
Fair Value Hedges
Gain (loss) in income	1.0	1.4
Foreign exchange contracts \| Marketing, general and administrative expense
Fair Value Hedges
Gain (loss) in income	$ (4.5)	$ 11.7

Financial Instruments - Gains (Losses) Recognized in AOCI (Details) - Cash Flow Hedging - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Derivative Instruments, Gains (Losses)
Gains (losses) recognized in accumulated other comprehensive loss on derivatives	$ (1.7)	$ 1.0
Foreign exchange contracts
Derivative Instruments, Gains (Losses)
Gains (losses) recognized in accumulated other comprehensive loss on derivatives	(1.5)	1.5
Commodity contracts
Derivative Instruments, Gains (Losses)
Gains (losses) recognized in accumulated other comprehensive loss on derivatives	$ (0.2)	$ (0.5)

Taxes Based on Income (Details) - USD ($) $ in Millions	3 Months Ended
Taxes Based on Income (Details) - USD ($) $ in Millions	Apr. 02, 2016	Apr. 04, 2015
Taxes Based on Income
Income before taxes	$ 123.5	$ 100.0
Provision for income taxes	$ 33.9	$ 28.1
Effective tax rate (as a percent)	27.40%	28.10%
Discrete tax benefit due to a decrease in certain tax reserves, including interest and penalties, as a result of closing tax years	$ 2.6	$ 3.3
Net benefit related to changes in the effective tax rates in certain foreign municipalities		$ 1.6
Reasonably possible decrease in unrecognized tax benefits during next 12 months	$ 9.0

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Net income per common share amounts
Net income available to common shareholders	$ 89.6	$ 71.9
Weighted average number of common shares outstanding	89.4	90.6
Dilutive shares (additional common shares issuable under stock-based awards)	1.7	1.8
Weighted average number of common shares outstanding, assuming dilution	91.1	92.4
Net income per common share (in dollars per share)	$ 1.00	$ 0.79
Net income per common share, assuming dilution (in dollars per share)	$ 0.98	$ 0.78
Stock-based compensation awards excluded from the computation of net income per common share, assuming dilution	0.5	1.0

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

Comprehensive Income - Changes AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period	$ (683.0)	$ (545.5)
Other comprehensive income (loss) before reclassifications, net of tax	17.6	(73.0)
Reclassifications to net income, net of tax	4.2	5.7
Net current-period other comprehensive income (loss) income, net of tax	21.8	(67.3)
Balance at end of the period	(661.2)	(612.8)
Foreign Currency Translation
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period	(158.9)	(19.9)
Other comprehensive income (loss) before reclassifications, net of tax	18.9	(72.0)
Net current-period other comprehensive income (loss) income, net of tax	18.9	(72.0)
Balance at end of the period	(140.0)	(91.9)
Pension and Other Postretirement Benefits
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period	(521.6)	(525.6)
Other comprehensive income (loss) before reclassifications, net of tax		(1.0)
Reclassifications to net income, net of tax	4.2	6.4
Net current-period other comprehensive income (loss) income, net of tax	4.2	5.4
Balance at end of the period	(517.4)	(520.2)
Cash Flow Hedges
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the period	(2.5)
Other comprehensive income (loss) before reclassifications, net of tax	(1.3)
Reclassifications to net income, net of tax		(0.7)
Net current-period other comprehensive income (loss) income, net of tax	(1.3)	(0.7)
Balance at end of the period	$ (3.8)	$ (0.7)

- 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

Comprehensive Income - Reclassified from AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold	$ (1,062.9)	$ (1,098.0)
Income before taxes	123.5	100.0
Provision for income taxes	(33.9)	(28.1)
Net income	89.6	71.9
Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Net income	(4.2)	(5.7)
Cash Flow Hedges \| Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Income before taxes		1.0
Provision for income taxes		(0.3)
Net income		0.7
Cash Flow Hedges \| Amounts Reclassified from Accumulated other comprehensive loss \| Foreign exchange contracts
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold	0.3	1.5
Cash Flow Hedges \| Amounts Reclassified from Accumulated other comprehensive loss \| Commodity contracts
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold	(0.3)	(0.5)
Pension and Other Postretirement Benefits \| Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Pension and other postretirement benefits	(6.1)	(7.6)
Provision for income taxes	1.9	1.2
Net income	$ (4.2)	$ (6.4)

Comprehensive Income - Income tax expense (benefit) allocated (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Income tax expense (benefit) allocated to other comprehensive income (loss)
Pension and other postretirement benefits	$ 1.9	$ 2.2
Cash flow hedges	(0.4)	(0.3)
Income tax expense allocated to other comprehensive income	$ 1.5	$ 1.9

Fair Value Measurements (Details) - USD ($) $ in Millions	Apr. 02, 2016	Jan. 02, 2016
Assets
Derivative assets	$ 6.3	$ 5.6
Liabilities
Derivative liabilities	9.3	5.2
Recurring
Assets
Trading securities	21.7	17.9
Derivative assets	6.3	5.6
Bank Drafts	14.1	24.8
Liabilities
Derivative liabilities	9.3	5.2
Recurring \| Cash and Cash Equivalents
Assets
Trading securities	0.2	0.3
Recurring \| Other current assets
Assets
Trading securities	21.5	17.6
Quoted Prices in Active Markets (Level 1) \| Recurring
Assets
Trading securities	14.9	11.3
Bank Drafts	14.1	24.8
Liabilities
Derivative liabilities	0.6	0.7
Significant Other Observable Inputs (Level 2) \| Recurring
Assets
Trading securities	6.8	6.6
Derivative assets	6.3	5.6
Liabilities
Derivative liabilities	$ 8.7	$ 4.5

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Apr. 02, 2016 USD ($) item	Jan. 02, 2016 USD ($)
Environmental
Environmental site contingency number of sites \| item	13
Activity related to environmental liabilities
Balance at beginning of year	$ 17.7
Charges (reversals), net	1.5
Payments	(1.9)
Balance at end of year	17.3
Short term environmental liabilities	$ 10.0	$ 7.0

Segment Information - Sales (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Segment Reporting Information
Net sales	$ 1,485.5	$ 1,528.0
Interest expense	(15.3)	(15.3)
Income before taxes	123.5	100.0
Other expense, net	5.6	14.3
Intersegment
Segment Reporting Information
Net sales	17.5	17.9
Pressure-sensitive Materials \| Operating segments
Segment Reporting Information
Net sales	1,092.0	1,120.6
Income before taxes	138.5	122.9
Other expense, net	2.1	5.6
Pressure-sensitive Materials \| Intersegment
Segment Reporting Information
Net sales	16.7	15.7
Retail Branding and Information Solutions \| Operating segments
Segment Reporting Information
Net sales	378.1	388.1
Income before taxes	26.1	19.2
Other expense, net	3.4	5.5
Retail Branding and Information Solutions \| Intersegment
Segment Reporting Information
Net sales	0.6	0.6
Vancive Medical Technologies \| Operating segments
Segment Reporting Information
Net sales	15.4	19.3
Income before taxes	(0.9)	(2.1)
Other expense, net	0.1	1.1
Vancive Medical Technologies \| Intersegment
Segment Reporting Information
Net sales	0.2	1.6
Corporate
Segment Reporting Information
Income before taxes	$ (24.9)	(24.7)
Other expense, net		$ 2.1

Segment Information - Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2016	Apr. 04, 2015
Restructuring charges
Charges	$ 5.6
Other items:
Impairment charges on assets held for sale		$ 2.0
Legal settlement		(0.5)
Gains on sale of assets		(1.7)
Divestiture-related costs		0.6
Other expense, net	5.6	14.3
Severance and related costs
Restructuring charges
Charges	5.2	13.5
Asset impairment charges and lease cancellation costs
Restructuring charges
Charges	$ 0.4	$ 0.4

Subsequent Events (Details) € in Millions	1 Months Ended
Subsequent Events (Details) € in Millions	Apr. 30, 2016 EUR (€)
MACtac Acquisition \| Subsequent Event
Purchase price	€ 200