View Filing Data

Print Document View Excel Document

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 30, 2017	Jan. 27, 2018	Jul. 01, 2017
Document and Entity Information
Entity Registrant Name	Avery Dennison Corp
Entity Central Index Key	0000008818
Document Type	10-K
Document Period End Date	Dec. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 7,752,539,694
Entity Common Stock, Shares Outstanding		87,927,816
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 224.4	$ 195.1
Trade accounts receivable, less allowances of $36.2 and $47.8 at year-end 2017 and 2016, respectively	1,180.3	1,001.0
Inventories, net	609.6	519.1
Refundable income taxes	28.9	30.3
Assets held for sale	6.3	6.8
Other current assets	188.4	152.5
Total current assets	2,237.9	1,904.8
Property, plant and equipment, net	1,097.9	915.2
Goodwill	985.1	793.6
Other intangibles resulting from business acquisitions, net	166.3	66.7
Non-current deferred income taxes	196.3	313.2
Other assets	453.4	402.9
Total assets	5,136.9	4,396.4
Current liabilities:
Short-term borrowings and current portion of long-term debt and capital leases	265.4	579.1
Accounts payable	1,007.2	841.9
Accrued payroll and employee benefits	248.5	217.4
Accrued trade rebates	112.3	95.2
Income taxes payable	49.2	37.9
Other accrued liabilities	289.2	232.8
Total current liabilities	1,971.8	2,004.3
Long-term debt and capital leases	1,316.3	713.4
Long-term retirement benefits and other liabilities	629.3	660.9
Non-current deferred and payable income taxes	173.3	92.3
Commitments and contingencies (see Note 7 and 8)
Shareholders' equity:
Common stock, $1 par value per share, authorized - 400,000,000 shares at year-end 2017 and 2016; issued - 124,126,624 shares at year-end 2017 and 2016; outstanding - 88,011,541 shares and 88,308,860 shares at year-end 2017 and 2016, respectively	124.1	124.1
Capital in excess of par value	862.6	852.0
Retained earnings	2,596.7	2,473.3
Treasury stock at cost, 36,115,083 shares and 35,817,764 shares at year-end 2017 and 2016, respectively	(1,856.7)	(1,772.0)
Accumulated other comprehensive loss	(680.5)	(751.9)
Total shareholders' equity	1,046.2	925.5
Total liabilities and shareholders' equity	$ 5,136.9	$ 4,396.4

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016
Consolidated Balance Sheets
Trade accounts receivable, allowances (in dollars)	$ 36.2	$ 47.8
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	88,011,541	88,308,860
Treasury stock, shares	36,115,083	35,817,764

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Consolidated Statements of Income
Net sales	$ 6,613.8	$ 6,086.5	$ 5,966.9
Cost of products sold	4,801.6	4,386.8	4,321.1
Gross profit	1,812.2	1,699.7	1,645.8
Marketing, general and administrative expense	1,123.2	1,097.5	1,108.1
Other expense, net	36.5	65.2	68.3
Interest expense	63.0	59.9	60.5
Income from continuing operations before taxes	589.5	477.1	408.9
Provision for income taxes	307.7	156.4	134.5
Income from continuing operations	281.8	320.7	274.4
Loss from discontinued operations, net of tax			(0.1)
Net income	$ 281.8	$ 320.7	$ 274.3
Net income per common share:
Continuing operations (in dollars per share)	$ 3.19	$ 3.60	$ 3.01
Net income per common share (in dollars per share)	3.19	3.60	3.01
Net income per common share, assuming dilution:
Continuing operations (in dollars per share)	3.13	3.54	2.95
Net income per common share, assuming dilution (in dollars per share)	3.13	3.54	2.95
Dividends per common share (in dollars per share)	$ 1.76	$ 1.60	$ 1.46
Weighted average number of shares outstanding:
Common shares (in shares)	88.3	89.1	91.0
Common shares, assuming dilution (in shares)	90.1	90.7	92.9

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Consolidated Statements of Comprehensive Income
Net income (loss)	$ 281.8	$ 320.7	$ 274.3
Foreign currency translation:
Translation gain (loss)	56.4	(53.7)	(139.0)
Pension and other postretirement benefits:
Net loss recognized from actuarial gain/loss and prior service cost/credit	(3.0)	(62.9)	(18.9)
Reclassifications to net income	19.3	44.2	22.9
Cash flow hedges:
(Losses) gains recognized on cash flow hedges	(2.2)	0.7	(0.5)
Reclassifications to net income	0.9	2.8	(2.0)
Other comprehensive income (loss), net of tax	71.4	(68.9)	(137.5)
Total comprehensive income, net of tax	$ 353.2	$ 251.8	$ 136.8

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Common stock	Capital in excess of par value	Retained earnings	Treasury stock	Accumulated other comprehensive loss	Total
Balance at Jan. 03, 2015	$ 124.1	$ 823.9	$ 2,116.5	$ (1,471.3)	$ (545.5)	$ 1,047.7
Increase (Decrease) in Stockholders' Equity
Net income (loss)			274.3			274.3
Other comprehensive income (loss), net of tax					(137.5)	(137.5)
Repurchase of 1,488,890, 3,781,528 and 3,858,376 shares for treasury for the years ended 2017, 2016, and 2015, respectively				(232.3)		(232.3)
Issuance of 960,656, 1,842,165 and 3,019,001 shares under stock-based compensation plans, including tax of $12.3 (2016) and $10.6 (2015) for the years ended 2017, 2016, and 2015, respectively		10.1	11.8	104.5		126.4
Contribution of 230,915, 280,526 and 348,116 shares to 401(k) Plan for the years ended 2017, 2016, and 2015, respectively			8.1	12.1		20.2
Dividends: $1.76, $1.60 and $1.46 per share for the years ended 2017, 2016, and 2015, respectively			(133.1)			(133.1)
Balance at Jan. 02, 2016	124.1	834.0	2,277.6	(1,587.0)	(683.0)	965.7
Increase (Decrease) in Stockholders' Equity
Net income (loss)			320.7			320.7
Other comprehensive income (loss), net of tax					(68.9)	(68.9)
Repurchase of 1,488,890, 3,781,528 and 3,858,376 shares for treasury for the years ended 2017, 2016, and 2015, respectively				(262.4)		(262.4)
Issuance of 960,656, 1,842,165 and 3,019,001 shares under stock-based compensation plans, including tax of $12.3 (2016) and $10.6 (2015) for the years ended 2017, 2016, and 2015, respectively		18.0	7.7	67.2		92.9
Contribution of 230,915, 280,526 and 348,116 shares to 401(k) Plan for the years ended 2017, 2016, and 2015, respectively			9.8	10.2		20.0
Dividends: $1.76, $1.60 and $1.46 per share for the years ended 2017, 2016, and 2015, respectively			(142.5)			(142.5)
Balance at Dec. 31, 2016	124.1	852.0	2,473.3	(1,772.0)	(751.9)	925.5
Increase (Decrease) in Stockholders' Equity
Net income (loss)			281.8			281.8
Other comprehensive income (loss), net of tax					71.4	71.4
Repurchase of 1,488,890, 3,781,528 and 3,858,376 shares for treasury for the years ended 2017, 2016, and 2015, respectively				(129.7)		(129.7)
Issuance of 960,656, 1,842,165 and 3,019,001 shares under stock-based compensation plans, including tax of $12.3 (2016) and $10.6 (2015) for the years ended 2017, 2016, and 2015, respectively		10.6	(14.4)	36.2		32.4
Contribution of 230,915, 280,526 and 348,116 shares to 401(k) Plan for the years ended 2017, 2016, and 2015, respectively			11.5	8.8		20.3
Dividends: $1.76, $1.60 and $1.46 per share for the years ended 2017, 2016, and 2015, respectively			(155.5)			(155.5)
Balance at Dec. 30, 2017	$ 124.1	$ 862.6	$ 2,596.7	$ (1,856.7)	$ (680.5)	$ 1,046.2

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Repurchase of shares for treasury (in shares)	1,500,000	3,800,000
Stock issued under stock-based compensation plans (in shares)	960,656	1,842,165	3,019,001
Tax on stock issued under stock-based compensation plans		$ 12.3	$ 10.6
Stock issued under 401(k) Plan (in shares)	230,915	280,526	348,116
Dividends per common share (in dollars per share)	$ 1.76	$ 1.60	$ 1.46
Treasury stock
Repurchase of shares for treasury (in shares)	1,488,890	3,781,528	3,858,376

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Operating Activities
Net income (loss)	$ 281.8	$ 320.7	$ 274.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	126.6	117.5	125.2
Amortization	52.1	62.6	63.1
Provision for doubtful accounts and sales returns	37.6	54.4	46.5
Net losses from asset impairments and sales/disposals of assets	1.4	1.5	12.2
Stock-based compensation	30.2	27.2	26.3
Loss from settlement of pension obligations		41.4
Deferred income taxes	151.6	52.3	12.9
Other non-cash expense and loss	53.9	46.2	50.1
Changes in assets and liabilities and other adjustments:
Trade accounts receivable	(141.2)	(88.2)	(135.9)
Inventories	(14.9)	(19.6)	(34.4)
Other current assets	(6.5)	(7.6)	3.9
Accounts payable	83.4	31.6	65.5
Accrued liabilities	(0.6)	32.4	7.0
Taxes on income	29.6	(14.1)	(23.7)
Other assets	(11.8)	(1.2)	(0.3)
Long-term retirement benefits and other liabilities	(23.1)	(71.8)	(19.0)
Net cash provided by operating activities	650.1	585.3	473.7
Investing Activities
Purchases of property, plant and equipment	(190.5)	(176.9)	(135.8)
Purchases of software and other deferred charges	(35.6)	(29.7)	(15.7)
Proceeds from sales of property, plant and equipment	6.0	8.5	7.6
Purchases of investments, net	(8.3)	(0.1)	(0.5)
Payments for acquisitions, net of cash acquired, and investments in businesses	(319.3)	(237.2)
Other			1.5
Net cash used in investing activities	(547.7)	(435.4)	(142.9)
Financing Activities
Net (decrease) increase in borrowings (maturities of three months or less)	(89.2)	234.9	(98.4)
Additional long-term borrowings	542.9
Repayments of long-term debt	(253.8)	(2.7)	(7.4)
Dividend payments	(155.5)	(142.5)	(133.1)
Share repurchases	(129.7)	(262.4)	(232.3)
Proceeds from exercises of stock options, net	22.0	71.0	104.0
Tax withholding for and excess tax benefit from stock-based compensation, net	(20.6)	(4.5)	(0.1)
Net cash used in financing activities	(83.9)	(106.2)	(367.3)
Effect of foreign currency translation on cash balances	10.8	(7.4)	(11.9)
Increase (decrease) in cash and cash equivalents	29.3	36.3	(48.4)
Cash and cash equivalents, beginning of year	195.1	158.8	207.2
Cash and cash equivalents, end of year	$ 224.4	$ 195.1	$ 158.8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 30, 2017

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

We develop identification and decorative solutions for businesses worldwide. Our products include pressure-sensitive labeling technology and materials; films for graphic and reflective applications; brand and price tickets, tags and labels (including radio-frequency identification ("RFID") inlays); performance tapes; and pressure-sensitive adhesive products for surgical, wound care, ostomy, and electromedical applications.

Principles of Consolidation

The consolidated financial statements include the accounts of majority-owned and controlled subsidiaries. Intercompany accounts, transactions, and profits are eliminated in consolidation. We apply the equity method of accounting for investments in which we have significant influence but not a controlling interest.

Fiscal Year

Normally, our fiscal years consist of 52 weeks, but every fifth or sixth fiscal year consists of 53 weeks. Our 2017, 2016, and 2015 fiscal years consisted of 52-week periods ending December 30, 2017, December 31, 2016, and January 2, 2016, respectively.

Financial Presentation

As further discussed in Note 16, "Supplemental Financial Information," we have classified certain costs associated with the divestiture of our former Office and Consumer Products ("OCP") and Designed and Engineered Solutions ("DES") businesses as discontinued operations in the Consolidated Statements of Income for fiscal year 2015. Unless otherwise noted, the results and financial condition of discontinued operations have been excluded from the notes to our Consolidated Financial Statements.

Accounting Guidance Update

In the first quarter of 2017, we adopted an accounting guidance update that simplifies several aspects of the accounting for stock-based payment transactions. As a result of adopting this update, beginning in the first quarter of 2017, (i) the tax effects related to stock-based payments at settlement or expiration were recognized through the income statement, a change from the previous requirement that certain tax effects be recognized in capital in excess of par value, and, as required by this guidance, this change was applied prospectively, and (ii) all tax-related cash flows resulting from stock-based payments were reported as operating activities on the statements of cash flows, a change from the previous requirement to present excess tax benefits as an inflow from financing activities and an outflow from operating activities, and, as permitted by this update, these changes were applied prospectively. Refer to Note 14, "Taxes Based on Income," for more information.

In the third quarter of 2017, we adopted an accounting guidance update that simplifies the measurement of goodwill impairment. This guidance update eliminates step two of the goodwill impairment test, so that goodwill impairment is the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Our adoption of this guidance update did not have a significant impact on our financial position, results of operations, cash flows, or disclosures.

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 date of the financial statements. 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 generally consist of cash on hand, deposits in banks, cash-in-transit, and bank drafts and short-term investments with maturities of three months or less when purchased or received. The carrying value of these assets approximates fair value due to the short maturity of the instruments.

Accounts Receivable

We record trade accounts receivable at the invoiced amount. The allowance for doubtful accounts reserve represents 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 the following:.


	•	Customer-specific allowances;
	•	Amounts based upon an aging schedule; and
	•	An amount based on our historical experience.

No single customer represented 10% or more of our net sales in, or trade accounts receivable at, year-end 2017 or 2016. However, during 2017, 2016, and 2015, our ten largest customers by net sales represented approximately 15%, 14%, and 15% of our net sales, respectively. As of December 30, 2017 and December 31, 2016, our ten largest customers by trade accounts receivable represented approximately 14% of our trade accounts receivable. These customers were concentrated primarily in our Label and Graphic Materials reportable segment. We generally do not require our customers to provide collateral.

Inventories

Inventories are stated at the lower of cost or net realizable value and categorized as raw materials, work-in-progress, or finished goods. Cost is determined using the first-in, first-out 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.

Property, Plant and Equipment

Depreciation is generally computed using the straight-line method over the estimated useful lives of the assets, ranging from ten to forty-five years for buildings and improvements and three to fifteen 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.

Software

We capitalize internal and external software costs incurred during the application development stage of software development, including costs incurred for design, coding, installation to hardware, testing, and upgrades and enhancements that provide the software or hardware with additional functionalities and capabilities. 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, which is generally between five and ten years.

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

In performing the required impairment tests, we perform a quantitative assessment, primarily consisting of a present value (discounted cash flow) method, to determine the fair value of the reporting units with goodwill. For certain reporting units the goodwill of which was acquired in the current period, we perform a qualitative assessment to determine whether a quantitative assessment is necessary. 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 a portion of a reporting unit.

We compare the fair value of each reporting unit to its carrying amount, and, to the extent the carrying amount exceeds the fair value, an impairment of goodwill is recognized for the excess up to the amount of goodwill of that reporting unit.

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 materially differ from these estimates and projections. 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 trade names and trademarks, for impairment in the fourth quarter or whenever events or circumstances indicate that it is more likely than not that their carrying amounts 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 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. Gains and losses resulting from hedging the value of investments in certain international operations and from the translation of balance sheet accounts are recorded directly as a component of other comprehensive income.

Financial Instruments

We enter into foreign exchange derivative 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. Derivatives designated as hedges are classified as either (1) hedges of the fair value of a recognized asset or liability or an unrecognized firm commitment ("fair value" hedges) or (2) hedges 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 ("cash flow" hedges). Other derivatives not designated as hedges are recorded on the balance sheets at fair value, with changes in fair value recognized in earnings. 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 that 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, hedges are classified in the same category as the item hedged, primarily in operating activities.

We also utilize certain foreign-currency-denominated debt to mitigate our foreign currency translation exposure from our net investment in foreign operations.

See also Note 5, "Financial Instruments," for more information.

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 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.

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 free on board (f.o.b.) shipping point or f.o.b. destination, depending upon local business customs. In regions where f.o.b. shipping point terms are utilized, sales are recorded at the time of shipment because this is when title and risk of loss are transferred. In regions where f.o.b. destination terms are utilized, 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 practices 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 on our 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.

Research and Development

Research and development costs are related to research, design, and testing of new products and applications and are expensed as incurred.

Long-Term Incentive Compensation

The accounting guidance update that simplifies several aspects of the accounting for stock-based payment transactions provided an accounting policy election in accounting for forfeitures of stock-based awards. We elected to continue our current practice of estimating expected forfeitures in determining the compensation cost to be recognized each period, rather than accounting for forfeitures as they occur.

No long-term incentive compensation expense was capitalized in 2017, 2016, or 2015.

Changes in estimated forfeiture rates are recorded as cumulative adjustments in the period that the 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 amortized on a straight-line basis over the requisite service period for stock options and restricted stock units ("RSUs"). Compensation expense for performance units ("PUs") is based on the fair value of awards, adjusted for estimated forfeitures, and amortized on a straight-line basis as these awards cliff-vest at the end of the requisite service period. The compensation expense related to market-leveraged stock units ("MSUs") is based on the fair value of awards, adjusted for estimated forfeitures, and amortized on a graded-vesting basis over their respective performance periods.

Compensation expense for 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 the component of PUs that is subject to the achievement of a performance objective based on a financial performance condition is determined based on the fair market value 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 MSUs and the other component of PUs, is determined using the Monte-Carlo simulation model, which utilizes multiple input variables, including expected stock price volatility 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. LTI Units are classified as liability awards and remeasured at each quarter-end over the applicable vesting or performance period. In addition to LTI Units with terms and conditions that mirror those of RSUs, we also grant certain employees LTI Units with terms and conditions that mirror those of PUs and MSUs.

See also Note 12, "Long-term Incentive Compensation," for more information.

Taxes Based on Income

Our provision for income taxes is determined using the asset and liability approach in accordance with GAAP. Under this approach, deferred income taxes represent the expected future tax consequences of temporary differences between the carrying amounts and tax basis of assets and liabilities. We record a valuation allowance to reduce our deferred tax assets when uncertainty regarding their realizability exists. We recognize and measure our uncertain tax positions following the more likely than not threshold for financial statement recognition and measurement for tax positions taken or expected to be taken in a tax return.

Our income tax provision for fiscal year 2017 includes the estimated impact of the TCJA enacted in the U.S. on December 22, 2017. The TCJA significantly revises U.S. corporate income taxation, among other changes, lowering corporate income tax rates, implementing a modified territorial tax regime, and imposing a one-time transition tax through a deemed repatriation of accumulated untaxed earnings and profits of foreign subsidiaries. We include a reasonable estimate ("provisional amount") of the impact of the TCJA on our tax provision following the guidance of SAB 118. The final impact of the TCJA may differ from the provisional amount as included, possibly materially, due to, among other things, further refinement of our calculations, changes in interpretations and assumptions we have made, regulatory and administrative guidance that may be issued, and actions we may take as a result of the TCJA.

See also Note 14, "Taxes Based on Income," for more information.

Recent Accounting Requirements

In February 2018, the Financial Accounting Standards Board ("FASB") issued guidance that provides entities with the option to reclassify certain tax effects of the TCJA in accumulated other comprehensive income to retained earnings. This guidance can be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal income tax rate pursuant to the TCJA is recognized. The guidance is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted for reporting periods for which financial statements have yet to be issued or made available for issuance. We are currently assessing the impact of this guidance on our financial position and disclosures.

In August 2017, the FASB issued amended guidance to improve the financial reporting of hedging relationships to better reflect the economic results of an entity's risk management activities in its financial statements, as well as to simplify the application of hedge accounting. The amended presentation and disclosure guidance is required prospectively. The guidance will be effective for interim and annual periods beginning after December 15, 2018, and early adoption is permitted. We are currently assessing the impact of this guidance on our financial position, results of operations, cash flows, and disclosures.

In May 2017, the FASB issued amended guidance that provides clarity on which changes to share-based awards are considered substantive and require modification accounting to be applied. This guidance is effective for interim and annual periods beginning after December 15, 2017. We do not regularly modify the terms and conditions of share-based awards and do not believe our adoption of this amended guidance will have a significant effect on our financial position, results of operations, cash flows, and disclosures.

In March 2017, the FASB issued guidance that requires employers with defined benefit plans to present only the service cost component of net periodic benefit cost in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period. Employers are required to present the other components of the net periodic benefit cost separately from the line item(s) that includes the service cost and outside of any subtotal of operating income. Components other than the service cost component will not be eligible for capitalization in assets. Employers are required to apply the guidance on the presentation of the components of net periodic benefit cost in the income statement retrospectively, while the guidance that limits the capitalization of net periodic benefit cost in assets to the service cost component must be applied prospectively. This guidance is effective for interim and annual periods beginning after December 15, 2017. The non-service cost components of net periodic pension cost totaled approximately $18 million and $53 million for the years ended 2017 and 2016, respectively. The amount in 2016 included a recognized loss on settlement of pension obligations of approximately $41 million. We do not expect this guidance to have a significant impact on the presentation of our results of operations and disclosures.

In January 2017, the FASB issued guidance that changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities qualifies as a business. This guidance is for fiscal years and interim periods beginning after December 15, 2017 and early adoption is permitted. We do not anticipate that our adoption of this guidance will have a significant impact on our financial position, results of operations, cash flows, and disclosures.

In October 2016, the FASB issued guidance that requires companies to recognize the income tax effects of intra-entity sales and transfers of assets other than inventory in the period in which they occur. This guidance is effective for fiscal years and interim periods beginning after December 15, 2017. The guidance requires modified retrospective adoption. Upon adoption, we expect to derecognize tax-related deferred charges, including tax-related deferred charges recorded in 2017, and recognize deferred taxes related to certain intra-entity asset transfers as a net reduction to retained earnings. Refer to Note 14, "Taxes Based on Income," for more information. We do not believe adoption of this guidance will have a significant effect on our financial position, results of operations, cash flows, and disclosures.

In August 2016, the FASB issued guidance to reduce the diversity in the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. This guidance requires retrospective adoption and is effective for fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted. Based on the information we have to date, we do not anticipate that the adoption of this guidance will have a significant impact on our cash flows.

In March 2016, and in subsequent updates, the FASB issued revised guidance on accounting for leases that requires lessees to recognize the rights and obligations created by leases on their balance sheets. This guidance, which will be effective for interim and annual periods beginning after December 15, 2018, also requires enhanced disclosures regarding the amount, timing and uncertainty of cash flows arising from leases. Early adoption is permitted. We expect to adopt this guidance as of the effective date. 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. The guidance provides an optional transition practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases under the current guidance. We are currently assessing the impact of this guidance on our financial position, results of operations, cash flows, and disclosures, and expect its adoption to have a significant impact on our financial position and 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 requires 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 ("full retrospective") or with the cumulative effect of adoption recognized at the date of initial application ("modified retrospective"). We will adopt the new standard under the modified retrospective approach in the first quarter of 2018. To prepare for this adoption, we established a project plan and cross-functional team to manage the assessment, design, and implementation of this new guidance. 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. However, our evaluation of the impact could change if we enter into new revenue arrangements in the future or interpretations of the new guidance evolve. Upon adoption of this revised guidance, allowances for customer returns, currently presented as a reduction of trade accounts receivable, will be classified as a returns liability. Our allowance for customer returns was $11.1 million and $10 million as of December 30, 2017 and December 31, 2016, respectively. The value of return assets is not expected to be significant. Effective beginning on the first day of our 2018 fiscal year, we have implemented appropriate changes to processes, policies, systems, and controls to support revenue recognition and disclosures in accordance with the revised guidance.

ACQUISITIONS	12 Months Ended
ACQUISITIONS	Dec. 30, 2017
ACQUISITIONS
ACQUISITIONS	NOTE 2. ACQUISITIONS On June 23, 2017, we completed the stock acquisition of Yongle Tape Ltd. ("Yongle Tape"), a China-based manufacturer of specialty tapes and related products used in a variety of industrial markets, from Yongle Tape's management and Shaw Kwei & Partners. On May 19, 2017, we completed the stock acquisition of Finesse Medical Limited ("Finesse Medical"), an Ireland-based manufacturer of healthcare products used in the management of wound care and skin conditions, from Finesse Medical's management. On March 1, 2017, we completed the net asset acquisition of Hanita Coatings Rural Cooperative Association Limited and stock acquisition of certain of its subsidiaries ("Hanita"), an Israel-based pressure-sensitive manufacturer of specialty films and laminates, from Kibbutz Hanita Coatings and Tene Investment Funds. We expect the acquisitions of Yongle Tape, Finesse Medical, and Hanita (collectively, the "2017 Acquisitions") to expand our product portfolio and provide new growth opportunities. The aggregate purchase consideration for these acquisitions, which is subject to customary post-closing adjustments, was approximately $360 million. This included $15 million of payments based on Yongle Tape's achievement of certain pre-acquisition performance targets. The 2017 Acquisitions were funded through cash and existing credit facilities. In addition to the cash paid at the closing of the 2017 Acquisitions, certain sellers are eligible for earn-out payments of up to approximately $45 million related to the achievement of certain performance targets for 2017 and 2018. Based on our current estimates, we have accrued approximately $45 million for these additional earn-out payments, which has been included in the $360 million of aggregate purchase consideration. Consistent with the allowable time to complete our assessment, the valuations of certain acquired assets and liabilities, including environmental liabilities and income taxes, are currently pending. The 2017 Acquisitions were not material, individually or in the aggregate, to our Consolidated Financial Statements. On August 1, 2016, we completed the acquisition of the European business of Mactac ("Mactac") from Platinum Equity through the purchase of Evergreen Holdings V, LLC. Mactac manufactures pressure-sensitive materials that primarily complement our existing graphics portfolio. The total consideration for this acquisition, net of cash received, was approximately $220 million, which we funded primarily through existing credit facilities. This acquisition was not material to our Consolidated Financial Statements.

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS

12 Months Ended

Dec. 30, 2017

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

Goodwill

Results from our annual goodwill impairment test in the fourth quarter of 2017 indicated that no impairment occurred during 2017. The fair value of these assets was primarily based on Level 3 inputs.

Changes in the net carrying amount of goodwill for 2017 and 2016 by reportable segment were as follows:

(In millions)	Label and Graphic Materials			Retail Branding and Information Solutions			Industrial and Healthcare Materials			Total

Goodwill as of January 2, 2016	$	277.9		$	408.3		$	–		$	686.2
Acquisitions (1)		107.8			–			14.3			122.1
Transfer (2)		–			(53.1	)		53.1			–
Translation adjustments		(12.4	)		(1.3	)		(1.0	)		(14.7	)

Goodwill as of December 31, 2016		373.3			353.9			66.4			793.6
2017 Acquisitions (1)		17.5			–			125.5			143.0
Acquisition adjustments (3)		4.8			–			.7			5.5
Translation adjustments		33.9			1.5			7.6			43.0

Goodwill as of December 30, 2017	$	429.5		$	355.4		$	200.2		$	985.1

(1)	Goodwill acquired in 2016 primarily related to the Mactac acquisition. Goodwill acquired in 2017 related to the acquisitions of Hanita, which is included in our Label and Graphic Materials ("LGM") reportable segment, and Finesse Medical and Yongle Tape, which are included in our Industrial and Healthcare Materials ("IHM") reportable segment.
(2)	In connection with our 2016 change in operating structure, we allocated goodwill associated with our fastener solutions reporting unit from our Retail Branding and Information Solutions ("RBIS") reportable segment to IHM based on the relative fair values of our fastener solutions and RBIS reporting units. Prior to 2016, no reporting units within IHM had allocated goodwill. Refer to Note 1, "Summary of Significant Accounting Policies," for more information.
(3)	Goodwill purchase price allocation adjustments related to the acquisition of Mactac in August 2016.

The carrying amounts of goodwill at December 30, 2017 and December 31, 2016 were net of accumulated impairment losses of $820 million recognized in fiscal year 2009 by our RBIS reportable segment.

In connection with the 2017 Acquisitions, we recognized goodwill based on our expectation of synergies and other benefits from acquiring these businesses. We expect the majority of the recognized goodwill related to the Hanita acquisition to be deductible for income tax purposes.

Indefinite-Lived Intangible Assets

Results from our annual indefinite-lived intangible assets impairment test in the fourth quarter indicated that no impairment occurred in 2017.

The carrying value of indefinite-lived intangible assets resulting from business acquisitions, consisting of trade names and trademarks, was $21.2 million and $20.3 million at December 30, 2017 and December 31, 2016, respectively. In connection with the Mactac acquisition in 2016, we acquired approximately $13 million of indefinite-lived intangible assets, which consist of trade names. These intangible assets were not subject to amortization as they were classified as indefinite-lived assets.

Finite-Lived Intangible Assets

In connection with the 2017 Acquisitions, we acquired approximately $110 million of identifiable intangible assets, which consisted of customer relationships, trade names and trademarks, and patents and other acquired technology. We utilized the income approach to estimate the fair values of the identifiable intangibles associated with the 2017 Acquisitions, using primarily Level 3 inputs. The discount rates we used to value these assets were between 11% and 16.5%.

The table below summarizes the preliminary amounts and weighted useful lives of these intangible assets:

	Amount (in millions)		Weighted-average amortization period (in years)

Customer relationships	$	71.5		16
Patents and other acquired technology		34.0		8
Trade names and trademarks		4.2		6

In connection with the Mactac acquisition in 2016, we acquired approximately $29 million of identifiable intangible assets, which consisted of customer relationships and patents and other acquired technology. We utilized an income approach to estimate the fair values of the identifiable intangibles acquired from Mactac, using primarily Level 3 inputs. The discount rates we used to value these assets were between 10.5% and 12.5%.

The table below summarizes the amounts and weighted useful lives of these intangible assets:

	Amount (in millions)		Weighted-average amortization period (in years)

Customer relationships	$	26.1		15
Patents and other acquired technology		2.5		4

Refer to Note 2, "Acquisitions," for more information.

The following table sets forth our finite-lived intangible assets resulting from business acquisitions at December 30, 2017 and December 31, 2016, which continue to be amortized:

		2017						2016
(In millions)		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Customer relationships (1)		$	329.2	$	226.4	$	102.8	$	247.1	$	209.4	$	37.7
Patents and other acquired technology (1)			86.9		51.3		35.6		52.0		46.7		5.3
Trade names and trademarks (2)			27.7		21.0		6.7		21.4		18.2		3.2
Other intangibles			12.0		12.0		–		11.7		11.5		.2

Total		$	455.8	$	310.7	$	145.1	$	332.2	$	285.8	$	46.4


(1)	Includes respective finite-lived intangible assets acquired from the 2017 Acquisitions and the Mactac acquisition.
(2)	Includes respective finite-lived intangible assets acquired from the 2017 Acquisitions.

Amortization expense for finite-lived intangible assets resulting from business acquisitions was $18.6 million for 2017, $19.9 million for 2016, and $20.5 million for 2015.

The estimated amortization expense 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

2018	$	14.7
2019		13.9
2020		12.0
2021		11.8
2022		10.8

- 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. 30, 2017

DEBT AND CAPITAL LEASES

DEBT AND CAPITAL LEASES

NOTE 4. DEBT AND CAPITAL LEASES

Short-Term Borrowings

We had $183.8 million and $44.5 million of borrowings from U.S. commercial paper issuances outstanding at December 30, 2017 and December 31, 2016, respectively, with a weighted-average interest rate of 1.79% and .9%, respectively.

In March 2016, we entered into an agreement 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 our revolving credit facility (the "Revolver"). There are no financial covenants under this program. As of December 30, 2017, there was no balance outstanding under this program.

Short-Term Credit Facilities

In November 2017, we amended and restated the Revolver, increasing the amount available from certain domestic and foreign banks from $700 million to $800 million. The amendment also extended the Revolver's maturity date to November 8, 2022. The maturity date may be extended for additional one-year periods under certain circumstances. The commitments under the Revolver may be increased by up to $300 million, subject to lender approval and customary requirements. The Revolver is used as a back-up facility for our commercial paper program and can be used for other corporate purposes.

No balance was outstanding under the Revolver as of December 30, 2017 or December 31, 2016. Commitment fees associated with the Revolver in 2017, 2016, and 2015 were $1.1 million, $1.1 million, and $1.9 million, respectively.

In addition to the Revolver, we have significant short-term lines of credit available in various countries totaling approximately $330 million at December 30, 2017. These lines may be cancelled at any time by us or the issuing banks. Short-term borrowings outstanding under our lines of credit were $76.1 million and $72.9 million at December 30, 2017 and December 31, 2016, respectively, with a weighted-average interest rate of 6.2% and 6.5%, respectively.

From time to time, certain of our subsidiaries provide guarantees on certain arrangements with banks. Our exposure to these guarantees is not material.

Long-Term Borrowings and Capital Leases

In March 2017, we issued €500 million of senior notes, due March 2025. The senior notes bear an interest rate of 1.25% per year, payable annually in arrears. The net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses, were $526.6 million (€495.5 million), a portion of which we used to repay commercial paper borrowings used to finance a portion of our acquisition of Mactac, and the remainder of which we used for general corporate purposes and the 2017 Acquisitions. We designated the senior notes as a net investment hedge of our investment in foreign operations. Refer to Note 5, "Financial Instruments," for more information.

In October 2017, we repaid $250 million of senior notes at maturity using U.S. commercial paper borrowings.

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

(In millions)	2017			2016

Long-term debt and capital leases
Medium-term notes:
Series 1995 due 2020 through 2025	$	44.9		$	44.9
Long-term notes:
Senior notes due 2017 at 6.6%		–			249.7
Senior notes due 2020 at 5.4%		249.5			249.3
Senior notes due 2023 at 3.4%		248.7			248.4
Senior notes due 2025 at 1.25%		588.4			–
Senior notes due 2033 at 6.0%		148.7			148.6
Capital leases		25.0			25.2
Other borrowings (1)		16.6			–
Less amount classified as current		(5.5	)		(252.7	)

Total long-term debt and capital leases (2)	$	1,316.3		$	713.4

(1)	Other borrowings consisted of long-term bank borrowings by foreign subsidiaries.
(2)	Includes unamortized debt issuance cost and debt discount of $7.1 million and $.7 million as of year-end 2017, respectively, and $3.6 million and $.4 million as of year-end 2016, respectively.

At year-end 2017, our medium-term notes had maturities from 2020 through 2025 and accrued interest at a weighted-average fixed rate of 7.5%.

We expect maturities of long-term debt and capital lease payments for each of the next five fiscal years and thereafter to be as follows:

Year	(In millions)

2018 (classified as current)	$	6.4
2019		19.9
2020		269.3
2021		3.9
2022		3.4
2023 and thereafter		1,030.6

The maturities of capital lease payments in the table above include $3.9 million of imputed interest, $1 million of which is expected to be paid in 2018.

In May 2015, we extended and amended the lease on our Mentor, Ohio facility for an additional ten years. This facility is used primarily as the North American headquarters and research center of our Label and Graphic Materials business. Because ownership of the facility transfers to us at the end of the lease term, we accounted for it as a capital lease. The carrying value of the lease at December 30, 2017 was approximately $20 million, of which approximately $18 million was included in "Long-term debt and capital leases" and approximately $2 million was included in "Short-term borrowings and current portion of long-term debt and capital leases" in the Consolidated Balance Sheets at December 30, 2017.

Other

Our 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 December 30, 2017 and December 31, 2016, we were in compliance with our financial covenants.

Our total interest costs from continuing operations in 2017, 2016, and 2015 were $67.9 million, $63.5 million, and $63.5 million, respectively, of which $4.9 million, $3.6 million, and $3 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 or euro government bond securities, as applicable, on notes with similar rates, credit ratings, and remaining maturities. The fair value of short-term borrowings, which includes commercial paper issuances and short-term lines of credit, approximates carrying value given the short duration of these obligations. The fair value of our total debt was $1.6 billion at December 30, 2017 and $1.31 billion at December 31, 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. Refer to Note 1, "Summary of Significant Accounting Policies," for more information.

FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 30, 2017

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS

NOTE 5. FINANCIAL INSTRUMENTS

As of December 30, 2017, the aggregate U.S. dollar equivalent notional value of our outstanding commodity contracts and foreign exchange contracts was $3.8 million and $1.37 billion, respectively.

We recognize 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. We also enter into foreign exchange contracts to offset risks arising from foreign exchange rate fluctuations.

The following table shows the fair value and balance sheet locations of cash flow hedges as of December 30, 2017 and December 31, 2016:

	Asset					Liability
(In millions)	Balance Sheet Location	2017		2016		Balance Sheet Location	2017		2016

Foreign exchange contracts	Other current assets	$	.4	$	3.0	Other accrued liabilities	$	.6	$	1.0
Commodity contracts	Other current assets	–		.5		Other accrued liabilities	–		–
Commodity contracts	Other assets	–		.1

		$	.4	$	3.6		$	.6	$	1.0

The following table shows the fair value and balance sheet locations of other derivatives as of December 30, 2017 and December 31, 2016:

	Asset					Liability
(In millions)	Balance Sheet Location	2017		2016		Balance Sheet Location	2017		2016

Foreign exchange contracts	Other current assets	$	3.5	$	1.6	Other accrued liabilities	$	5.6	$	6.8

Cash Flow Hedges

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of "Accumulated other comprehensive loss" and reclassified into earnings in the same period(s) during which the hedged transaction impacts earnings. Gains and losses on the derivatives, representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness, are recognized in current earnings.

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

(In millions)	2017			2016		2015

Foreign exchange contracts	$	(2.2	)	$	.2	$	(.1	)
Commodity contracts		(.6	)		.6		(.7	)

	$	(2.8	)	$	.8	$	(.8	)

The amounts 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 were immaterial in 2017, 2016, and 2015.

As of December 30, 2017, we expected a net loss of approximately $.3 million to be reclassified from "Accumulated other comprehensive loss" to earnings within the next 12 months.

Other Derivatives

For other derivative instruments, which are not designated as hedging instruments, the gain or loss is recognized in current earnings. These derivatives are intended to offset certain of our economic exposures. The following table shows the components of the net gains (losses) recognized in income related to these derivative instruments.

(In millions)	Location of Net Gains (Losses) in Income	2017			2016		2015

Foreign exchange contracts	Cost of products sold	$	(1.2	)	$	2.8	$	2.9
Foreign exchange contracts	Marketing, general and administrative expense		(42.9	)		4.1		2.9

		$	(44.1	)	$	6.9	$	5.8

Net Investment Hedge

In March 2017, we designated our €500 million of euro-denominated 1.25% senior notes due 2025 as a net investment hedge of our investment in foreign operations. The net assets from the investment in foreign operations were greater than the senior notes, and as such, the net investment hedge was effective. Refer to Note 4, "Debt and Capital Leases," for more information.

Gain (loss), before tax, recognized in "Accumulated other comprehensive loss" (effective portion) related to the net investment hedge was as follows:

(In millions)	2017			2016		2015

Foreign currency denominated debt	$	(63.7	)	$	N/A	$	N/A

We recorded no ineffectiveness from our net investment hedge in earnings during 2017.

PENSION AND OTHER POSTRETIREMENT BENEFITS

12 Months Ended

Dec. 30, 2017

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 were vested participants in the Avery Dennison Pension Plan (the "ADPP"), our U.S. 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. In the second quarter of 2016, approximately $70 million of pension obligations related to this plan were settled from existing plan assets and a non-cash pre-tax settlement charge of $41.4 million was recorded in "Other expense, net" in the Consolidated Statements of Income. This settlement required us to remeasure the remaining net pension obligations of the ADPP. As a result, in 2016, we recognized approximately $72 million of additional net pension obligations with a corresponding increase in actuarial losses recorded in "Accumulated other comprehensive loss," primarily due to lower discount rates in effect when the plan was remeasured.

Plan Assets

Our investment management of the ADPP assets utilizes a liability driven investment (LDI) strategy. Under an LDI strategy, the assets are invested in a diversified portfolio that includes both risk-seeking ("growth portfolio") and liability-hedging components. 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 target allocation is 65% in the growth portfolio and 35% 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 in our international plans are invested in accordance with locally 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 39% in equity securities, 43% in fixed income securities and cash, and 18% 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. Mutual funds are valued at fair value as determined by quoted market prices, based upon the net asset value ("NAV") of shares held at year-end. Pooled funds are structured as collective trusts, not publicly traded, and valued by calculating NAV per unit based on the NAV of the underlying funds/trusts as a practical expedient for the fair value of the pooled funds. 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.

These methods 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 (as applicable), U.S. plan assets (all in the ADPP) at fair value:

			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)

2017
Cash	$	–	$	–	$	–	$	–
Pooled funds – liability-hedging portfolio (1)		275.6
Pooled funds – growth portfolio (1)		464.6

Total U.S. plan assets	$	740.2

2016
Cash	$	–	$	–	$	–	$	–
Pooled funds – liability-hedging portfolio (1)		269.0
Pooled funds – growth portfolio (1)		403.1

Total U.S. plan assets	$	672.1

(1)	Pooled funds that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to reconcile to total U.S. plan assets.

The following table sets forth, by level within the fair value hierarchy (as applicable), international plan assets at fair value:

			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)

2017
Cash	$	1.7	$	1.7	$	–	$	–
Insurance contracts		35.7		–		–		35.7
Pooled funds – fixed income securities (1)		278.5
Pooled funds – equity securities (1)		277.3
Pooled funds – other investments (1)		90.5

Total international plan assets at fair value	$	683.7

2016
Cash	$	3.0	$	3.0	$	–	$	–
Insurance contracts		30.5		–		–		30.5
Pooled funds – fixed income securities (1)		284.2
Pooled funds – equity securities (1)		223.4
Pooled funds – other investments (1)		43.1

Total international plan assets at fair value	$	584.2

(1)	Pooled funds that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to reconcile to total international plan assets.

The following table presents a reconciliation of Level 3 international plan asset activity during the year ended December 30, 2017:

	Level 3 Assets
(In millions)	Insurance Contracts

Balance at December 31, 2016	$	30.5
Net realized and unrealized gain		.7
Purchases		2.8
Settlements		(1.4	)
Impact of changes in foreign currency exchange rates		3.1

Balance at December 30, 2017	$	35.7

Postretirement Health Benefits

We provide postretirement health benefits to certain retired U.S. 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.

Plan Assumptions

Discount Rate

In consultation with our actuaries, we annually review and determine the discount rates used to value our postretirement obligations. The assumed discount rate for each pension plan reflects market rates for high quality corporate bonds currently available. 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 bond portfolios to determine a rate that reflects the liability duration unique to our plans.

In 2016, we began using the full yield curve approach to estimate the service and interest cost components of net periodic benefit cost for our pension and other postretirement benefit plans. Under this approach, we applied multiple discount rates from a yield curve composed of the rates of return on several hundred high-quality, fixed income corporate bonds available at the measurement date. We believe this approach provides a more precise measurement of service and interest cost by aligning the timing of the plans' liability cash flows to the corresponding rates on the yield curve. Historically, we estimated the service and interest cost components using a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period.

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 returns in 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 reasonableness and appropriateness.

Healthcare Cost Trend Rate

Our practice is to fund the cost of postretirement benefits from operating cash flows. For measurement purposes, we assumed a 7% annual rate of increase in the per capita cost of covered health care benefits for 2018. This rate is expected to decrease to 5% by 2024.

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		(.2	)

Measurement Date

We measure the actuarial value of our benefit obligations and plan assets using the calendar month-end closest to our fiscal year-end and adjust for any contributions or other significant events between the measurement date and our fiscal year-end.

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
	2017						2016						2017			2016
(In millions)	U.S.			Int'l			U.S.			Int'l

Change in projected benefit obligations
Projected benefit obligations at beginning of year	$	1,033.7		$	762.9		$	1,088.9		$	674.7		$	5.0		$	5.9
Service cost		.5			18.2			.4			13.9			–			–
Interest cost		35.3			14.3			34.4			16.4			.1			.2
Participant contribution		–			3.4			–			2.9			.5			.5
Amendments		–			(2.1	)		–			(.6	)		–			–
Actuarial loss (gain)		73.1			(26.4	)		39.1			123.8			(.1	)		(.2	)
Plan transfers		–			(1.3	)		–			–			–			–
Acquisition (1)		–			–			–			14.6			–			–
Benefits paid		(60.5	)		(22.5	)		(59.9	)		(21.8	)		(1.4	)		(1.4	)
Curtailments		–			–			–			(.3	)		–			–
Settlements (2)		–			–			(69.2	)		–			–			–
Foreign currency translation		–			90.2			–			(60.7	)		–			–

Projected benefit obligations at end of year	$	1,082.1		$	836.7		$	1,033.7		$	762.9		$	4.1		$	5.0

Accumulated benefit obligations at end of year	$	1,082.1		$	355.6		$	1,033.7		$	704.8

(1)	In connection with the Mactac acquisition in August 2016, we assumed benefit obligations associated with two defined benefit plans in Belgium.
(2)	In 2016, settlements were related to the lump-sum pension payments associated with the ADPP.

Plan Assets

	Pension Benefits												U.S. Postretirement Health Benefits
	2017						2016						2017			2016
(In millions)	U.S.			Int'l			U.S.			Int'l

Change in plan assets
Plan assets at beginning of year	$	672.1		$	584.2		$	704.9		$	552.1		$	–		$	–
Actual return on plan assets		90.1			34.2			42.9			79.4			–			–
Plan transfers		–			(.7	)		–			–			–			–
Acquisition (1)		–			–			–			8.9			–			–
Employer contributions		38.5			14.0			53.4			13.8			.9			.9
Participant contributions		–			3.4			–			2.9			.5			.5
Benefits paid		(60.5	)		(22.5	)		(59.9	)		(21.8	)		(1.4	)		(1.4	)
Settlements (2)		–			–			(69.2	)		–			–			–
Foreign currency translation		–			71.1			–			(51.1	)		–			–

Plan assets at end of year	$	740.2		$	683.7		$	672.1		$	584.2		$	–		$	–

(1)	In connection with the Mactac acquisition in August 2016, we assumed plan assets associated with two defined benefit plans in Belgium.
(2)	In 2016, settlements were related to the lump-sum pension payments associated with the ADPP.

Funded Status

	Pension Benefits												U.S. Postretirement Health Benefits
	2017						2016						2017			2016
(In millions)	U.S.			Int'l			U.S.			Int'l

Funded status of the plans
Other accrued liabilities	$	(33.4	)	$	(2.4	)	$	(13.5	)	$	(2.0	)	$	(.5	)	$	(.8	)
Long-term retirement benefits and other liabilities (1)		(308.5	)		(150.6	)		(348.1	)		(176.7	)		(3.6	)		(4.2	)

Plan assets less than benefit obligations	$	(341.9	)	$	(153.0	)	$	(361.6	)	$	(178.7	)	$	(4.1	)	$	(5.0	)

(1)	In accordance with our funding strategy, we have the option to fund certain of these liabilities with proceeds from our corporate-owned life insurance policies.

													U.S. Postretirement
	Pension Benefits												Health Benefits
	2017						2016						2017			2016
	U.S.			Int'l			U.S.			Int'l

Weighted-average assumptions used to determine year-end benefit obligations
Discount rate		3.71	%		2.25	%		4.25	%		2.12	%		3.55	%		3.95	%
Compensation rate increase		–			2.29			–			2.27			–			–

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 $1.92 billion and $1.42 billion, respectively, at year-end 2017 and $1.80 billion and $1.26 billion, respectively, at year-end 2016.

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 $1.44 billion and $994 million, respectively, at year-end 2017 and $1.74 billion and $1.26 billion, respectively, at year-end 2016.

Accumulated Other Comprehensive Loss

The following table sets forth the pre-tax amounts recognized in "Accumulated other comprehensive loss" in the Consolidated Balance Sheets:

	Pension Benefits										U.S. Postretirement Health Benefits
	2017					2016					2017			2016
(In millions)	U.S.		Int'l			U.S.		Int'l

Net actuarial loss	$	567.2	$	186.5		$	564.2	$	213.6		$	17.0		$	18.5
Prior service cost (credit)		16.7		(7.4	)		17.5		(4.9	)		(13.1	)		(16.4	)
Net transition obligation		–		.1			–		.2			–			–

Net amount recognized in accumulated other comprehensive loss	$	583.9	$	179.2		$	581.7	$	208.9		$	3.9		$	2.1

The following table sets forth the pre-tax amounts, including those of discontinued operations, recognized in "Other comprehensive loss (income)":

	Pension Benefits																		U.S. Postretirement Health Benefits
	2017						2016						2015						2017			2016			2015
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Net actuarial loss (gain)	$	21.8		$	(17.2	)	$	39.1		$	48.9		$	21.1		$	11.3		$	–		$	(.2	)	$	(1.4	)
Prior service (credit) cost		–			(2.1	)		–			(.6	)		–			(.7	)		–			–			–
Amortization of unrecognized:
Net actuarial loss		(18.7	)		(10.8	)		(19.0	)		(7.0	)		(20.0	)		(9.4	)		(1.5	)		(1.7	)		(2.2	)
Prior service (cost) credit		(.9	)		.4			(1.2	)		.4			(1.2	)		.3			3.3			3.2			3.3
Net transition obligation		–			–			–			(.1	)		–			–			–			–			–
Curtailments		–			–			–			–			–			.2			–			–			–
Settlements		–			–			(41.4	)		–			–			(4.3	)		–			–			–

Net amount recognized in other comprehensive (income) loss	$	2.2		$	(29.7	)	$	(22.5	)	$	41.6		$	(.1	)	$	(2.6	)	$	1.8		$	1.3		$	(.3	)

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
	2017						2016						2015						2017			2016			2015
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Service cost	$	.5		$	18.2		$	.4		$	13.9		$	.4		$	13.8		$	–		$	–		$	–
Interest cost		35.3			14.3			34.4			16.4			45.8			17.3			.1			.1			.3
Actuarial (gain) loss		1.7			–			(.2	)		–			.4			–			–			–			–
Expected return on plan assets		(40.5	)		(21.1	)		(42.7	)		(21.4	)		(51.5	)		(21.5	)		–			–			–
Amortization of actuarial loss		18.7			10.8			19.0			7.0			20.0			9.4			1.5			1.7			2.2
Amortization of prior service cost (credit)		.9			(.4	)		1.2			(.4	)		1.2			(.3	)		(3.3	)		(3.2	)		(3.3	)
Amortization of transition obligation		–			–			–			.1			–			–			–			–			–
Recognized net (gain) loss on curtailments		–			–			–			(.2	)		–			(.2	)		–			–			–
Recognized loss on settlements (1)		–			–			41.4			–			–			4.3			–			–			–

Net periodic benefit cost (credit)	$	16.6		$	21.8		$	53.5		$	15.4		$	16.3		$	22.8		$	(1.7	)	$	(1.4	)	$	(.8	)

(1)

In 2016, we recognized a loss on settlements related to the ADPP as a result of making the lump-sum pension payments described above. In 2015, we recognized a loss on settlements related to pension plans in Germany and France as a result of the sale of a product line in our RBIS reportable segment. We also recognized a loss on settlements in Switzerland in 2015. These losses on settlements were recorded in "Other expense, net" in the Consolidated Statements of Income.

The following table sets forth the weighted-average assumptions used to determine net periodic cost:

	Pension Benefits																		U.S. Postretirement Health Benefits
	2017						2016						2015						2017			2016			2015
	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Discount rate		4.18	%		2.12	%		4.55	%		2.95	%		4.00	%		2.54	%		3.95	%		4.13	%		3.50	%
Expected return on assets		7.00			3.77			7.25			4.14			7.50			4.27			–			–			–
Compensation rate increase		–			2.27			–			2.24			–			2.22			–			–			–

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. The following table sets forth our expected contributions in 2018:

(In millions)

U.S.	$	34.0
Int'l		14.9
U.S. postretirement health benefits		.5

Future Benefit Payments

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

	Pension Benefits				U.S. Postretirement Health Benefits
(In millions)	U.S.		Int'l

2018	$	83.0	$	20.4	$	.5
2019		58.9		21.8		.4
2020		59.0		21.3		.3
2021		60.6		23.0		.3
2022		60.5		25.9		.3
2023 - 2027		305.9		145.5		1.3

Estimated Amortization Amounts in Accumulated Other Comprehensive Loss

Our estimates of fiscal year 2018 amortization of amounts included in "Accumulated other comprehensive loss" were as follows:

	Pension Benefits					U.S. Postretirement Health Benefits
(In millions)	U.S.		Int'l

Net actuarial loss	$	20.8	$	8.1		$	1.4
Prior service cost (credit)		.8		(.5	)		(3.3	)
Net transition obligation		–		.1			–

Net loss (gain) to be recognized	$	21.6	$	7.7		$	(1.9	)

Defined Contribution Plans

We sponsor various defined contribution plans worldwide, the largest of which is the Avery Dennison Corporation Employee Savings Plan ("Savings Plan"), a 401(k) plan for our U.S. employees.

We recognized expense from continuing operations of $20.2 million, $20 million, and $20.2 million in 2017, 2016, and 2015, respectively, related to our employer contributions and employer match of participant contributions to the Savings Plan.

Other Retirement Plans

We have deferred compensation plans that permit eligible employees and directors to defer a portion of their compensation. The compensation voluntarily deferred by the participant, together with certain employer contributions, earns specified and variable rates of return. As of year-end 2017 and 2016, we had accrued $86.9 million and $78.7 million, respectively, for our obligations under these plans. 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.

Our Directors Deferred Equity Compensation Plan allows our non-employee directors to elect to receive their cash compensation in deferred stock units ("DSUs") issued under our equity plans. 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 on the applicable payable date. A director's DSUs are converted into shares of our common stock upon his or her resignation or retirement. Approximately .2 million and .1 million DSUs were outstanding as of year-end 2017 and 2016, respectively, with an aggregate value of $17.8 million and $10.2 million, respectively.

We hold corporate-owned life insurance policies, the proceeds from which are payable to us upon the death of covered participants. The cash surrender values of these policies, net of outstanding loans, which are included in "Other assets" in the Consolidated Balance Sheets, were $243.5 million and $230.6 million at year-end 2017 and 2016, respectively.

COMMITMENTS

12 Months Ended

Dec. 30, 2017

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)

2018	$	48.2
2019		35.8
2020		26.3
2021		18.2
2022		13.6
2023 and thereafter		47.6

Total minimum lease payments	$	189.7

Rent expense for operating leases from continuing operations was approximately $64 million in 2017 and approximately $58 million in both 2016 and 2015. Operating leases primarily relate to office and warehouse space and equipment for information technology, machinery, and transportation. These leases do not impose significant restrictions or unusual obligations.

Refer to Note 4, "Debt and Capital Leases," for more information.

CONTINGENCIES

12 Months Ended

Dec. 30, 2017

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. When it is probable that a loss will be incurred and where a range of the loss can be reasonably estimated, the best estimate within the range is accrued. When the best estimate within the range cannot be determined, the low end of the range is accrued. The ultimate resolution of these claims could affect future results of operations should our exposure be materially different from our estimates or should liabilities be incurred that were not previously accrued. Potential insurance reimbursements are not offset against potential liabilities.

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

Environmental Expenditures

Environmental expenditures are generally expensed. However, environmental expenditures for newly acquired assets and those which extend or improve the economic useful life of existing assets are capitalized and amortized over the shorter of the estimated useful life of the acquired asset or the remaining life of the existing asset. We review our estimates of 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 ("PRP"). When it is probable that a loss will be incurred and where a range of the loss can be reasonably estimated, the best estimate within the range is accrued. When the best estimate within the range cannot be determined, the low end of the range is accrued. Potential insurance reimbursements are not offset against potential liabilities.

As of December 30, 2017, we have been designated by the U.S. Environmental Protection Agency ("EPA") and/or other responsible state agencies as a PRP at thirteen waste disposal or waste recycling sites that are the subject of separate investigations or proceedings concerning alleged soil and/or groundwater contamination. No settlement of our liability related to any of 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.

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 in 2017 and 2016 related to our environmental liabilities was as follows:

(In millions)	2017			2016

Balance at beginning of year	$	21.3		$	17.7
Acquisitions		3.0			–
Charges (reversals), net		2.8			11.6
Payments		(6.0	)		(8.0	)

Balance at end of year	$	21.1		$	21.3

As of December 30, 2017 and December 31, 2016, approximately $5 million and $8 million, respectively, of the balance was classified as short-term and included in "Other accrued liabilities" in the Consolidated Balance Sheets.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 30, 2017

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

NOTE 9. 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 30, 2017:

			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	$	22.7	$	17.7	$	5.0	$	–
Derivative assets		3.9		–		3.9		–
Bank drafts		18.4		18.4		–		–
Liabilities
Derivative liabilities	$	6.2	$	.1	$	6.1	$	–
Contingent consideration liabilities		45.0		–		–		45.0

The following table provides the assets and liabilities carried at fair value, measured on a recurring basis, as of December 31, 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	$	18.1	$	11.7	$	6.4	$	–
Derivative assets		5.2		.6		4.6		–
Bank drafts		14.3		14.3		–		–
Liabilities
Derivative liabilities	$	7.8	$	–	$	7.8	$	–

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 NAV. As of December 30, 2017, trading securities of $.4 million and $22.3 million were included in "Cash and cash equivalents" and "Other current assets," respectively, in the Consolidated Balance Sheets. As of December 31, 2016, trading securities of $.5 million and $17.6 million were included in "Cash and cash equivalents" and "Other current assets," respectively, in the Consolidated Balance Sheets. Derivatives that are exchange-traded are measured at fair value using quoted market prices and classified within Level 1 of the valuation hierarchy. Derivatives measured based on foreign exchange rate inputs that are readily available in public markets are classified within Level 2 of the valuation hierarchy. Bank drafts (maturities greater than three months) are valued at face value due to their short-term nature and were included in "Other current assets" in the Consolidated Balance Sheets. Contingent consideration liabilities relate to estimated earn-out payments associated with certain of the 2017 Acquisitions. These payments are based on the achievement of certain performance targets in 2017 and 2018 based on the applicable terms of the purchase agreements, and our estimates are based on the expected payments related to these targets under the terms of their respective agreements. We have classified these liabilities as Level 3. As of December 30, 2017, contingent consideration liabilities of approximately $18 million and $27 million were included in "Other accrued liabilities" and "Long-term retirement benefits and other liabilities," respectively, in the 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

NET INCOME PER COMMON SHARE

12 Months Ended

Dec. 30, 2017

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE

NOTE 10. NET INCOME PER COMMON SHARE

Net income per common share was computed as follows:

(In millions, except per share amounts)		2017		2016		2015

(A)	Income from continuing operations	$	281.8	$	320.7	$	274.4
(B)	Loss from discontinued operations, net of tax		–		–		(.1	)

(C)	Net income available to common shareholders	$	281.8	$	320.7	$	274.3

(D)	Weighted average number of common shares outstanding		88.3		89.1		91.0
	Dilutive shares (additional common shares issuable under stock-based awards)		1.8		1.6		1.9

(E)	Weighted average number of common shares outstanding, assuming dilution		90.1		90.7		92.9

Net income per common share:
Continuing operations (A) ÷ (D)		$	3.19	$	3.60	$	3.01
Discontinued operations (B) ÷ (D)			–		–		–

Net income per common share (C) ÷ (D)		$	3.19	$	3.60	$	3.01

Net income per common share, assuming dilution:
Continuing operations (A) ÷ (E)		$	3.13	$	3.54	$	2.95
Discontinued operations (B) ÷ (E)			–		–		–

Net income per common share, assuming dilution (C) ÷ (E)		$	3.13	$	3.54	$	2.95

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 were not significant in 2017. Stock-based compensation awards excluded from the computation totaled approximately .2 million shares in 2016 and 1 million shares in 2015.

SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION

12 Months Ended

Dec. 30, 2017

SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION

SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION

NOTE 11. SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION

Common Stock and Share Repurchase Program

Our Certificate of Incorporation authorizes five million shares of $1 par value preferred stock (of which none are outstanding), with respect to which our Board 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 authorizes the repurchase of shares of our outstanding common stock. Repurchased shares may be reissued under our long-term incentive plan or used for other corporate purposes. In 2017, we repurchased approximately 1.5 million shares of our common stock at an aggregate cost of $129.7 million. In 2016, we repurchased approximately 3.8 million shares of our common stock at an aggregate cost of $262.4 million.

In April 2017, our Board authorized the repurchase of shares of our common stock with a fair market value of up to $650 million, exclusive of any fees, commissions or other expenses related to such purchases, in addition to the amount outstanding under our previous Board authorization. Board authorizations remain in effect until shares in the amount authorized thereunder have been repurchased. As of December 30, 2017, shares of our common stock in the aggregate amount of $625.2 million remained authorized for repurchase under this Board authorization. As of December 31, 2016, shares of our common stock in the aggregate amount of $104.9 million remained authorized under our previous Board authorization.

Treasury Shares Reissuance

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

Other Comprehensive Income

The changes in "Accumulated other comprehensive loss" (net of tax) for 2017 and 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 (loss) income before reclassifications, net of tax		(53.7	)		(62.9	)		.7			(115.9	)
Reclassifications to net income, net of tax		–			44.2			2.8			47.0

Net current-period other comprehensive (loss) income, net of tax		(53.7	)		(18.7	)		3.5			(68.9	)

Balance as of December 31, 2016	$	(212.6	)	$	(540.3	)	$	1.0		$	(751.9	)
Other comprehensive income (loss) before reclassifications, net of tax		56.4			(3.0	)		(2.2	)		51.2
Reclassifications to net income, net of tax		–			19.3			.9			20.2

Net current-period other comprehensive income (loss), net of tax		56.4			16.3			(1.3	)		71.4

Balance as of December 30, 2017	$	(156.2	)	$	(524.0	)	$	(.3	)	$	(680.5	)

The amounts reclassified from "Accumulated other comprehensive loss" to increase (decrease) income from continuing operations were as follows:

(In millions)	2017			2016			2015			Affected Line Item in the Statements Where Net Income is Presented

Cash flow hedges:
Foreign exchange contracts	$	.2		$	(3.0	)	$	3.9		Cost of products sold
Commodity contracts		.2			(.7	)		(1.3	)	Cost of products sold
Interest rate contracts		(1.8	)		(.1	)		(.1	)	Interest expense

		(1.4	)		(3.8	)		2.5		Total before tax
		.5			1.0			(.5	)	Provision for income taxes

		(.9	)		(2.8	)		2.0		Net of tax

Pension and other postretirement benefits (1)		(28.2	)		(66.8	)		(33.3	)
		8.9			22.6			10.4		Provision for income taxes

		(19.3	)		(44.2	)		(22.9	)	Net of tax

Total reclassifications for the period	$	(20.2	)	$	(47.0	)	$	(20.9	)	Total, net of tax

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

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

(In millions)	2017			2016			2015

Foreign currency translation:
Translation gain (loss)	$	(25.1	)	$	(3.3	)	$	(2.2	)
Pension and other postretirement benefits:
Net loss recognized from actuarial gain/loss and prior service cost/credit		.5			(24.2	)		(11.4	)
Reclassifications to net income		8.9			22.6			10.4
Cash flow hedges:
(Losses) gains recognized on cash flow hedges		(.6	)		.1			(.3	)
Reclassifications to net income		.5			1.0			(.5	)

Income tax benefit related to items of other comprehensive loss	$	(15.8	)	$	(3.8	)	$	(4.0	)

LONG-TERM INCENTIVE COMPENSATION

12 Months Ended

Dec. 30, 2017

LONG-TERM INCENTIVE COMPENSATION

LONG-TERM INCENTIVE COMPENSATION

NOTE 12. LONG-TERM INCENTIVE COMPENSATION

Stock-Based 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. 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.

In April 2017, our shareholders approved our 2017 Incentive Award Plan (the "Equity Plan") to replace our Amended and Restated Stock Option and Incentive Plan. The Equity Plan, a long-term incentive plan for eligible employees and non-employee directors, allows us to grant stock-based compensation awards – including stock options, restricted stock units, performance units, and market-leveraged stock units – or a combination of these and other awards. Under the Equity Plan, the aggregate number of shares available for issuance is 5.4 million shares and each full value award is counted as 1.5 shares for purposes of the number of shares authorized for issuance. Full value awards include restricted stock units, performance units, and market-leveraged stock units.

Stock-based compensation expense from continuing operations and the related recognized tax benefit were as follows:

(In millions)	2017		2016		2015

Stock-based compensation expense	$	30.2	$	27.2	$	26.3
Tax benefit		4.3		8.5		8.2

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

As of December 30, 2017, we had approximately $38 million of unrecognized compensation expense from continuing operations related to unvested stock-based awards, which is expected to be recognized over the remaining weighted-average requisite service period of approximately two years.

Stock Options

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

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 grant date fair value per share for stock options granted in 2016 was $14.17. No stock options were granted in fiscal years 2017 and 2015.

The underlying weighted-average assumptions used were as follows:

	2016

Risk-free interest rate		1.75	%
Expected stock price volatility		24.58	%
Expected dividend yield		2.58	%
Expected option term		6.5 years

The following table sets forth stock option information during 2017:

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

Outstanding at December 31, 2016	1,115.2		$	41.29	4.72	$	32.8
Exercised	(571.6	)		38.50

Outstanding at December 30, 2017	543.6		$	44.22	4.94	$	38.4
Options vested and expected to vest at December 30, 2017	527.4			43.30	4.83		37.7
Options exercisable at December 30, 2017	402.5		$	33.79	3.72	$	32.6

The total intrinsic value of stock options exercised was $26.8 million in 2017, $31.7 million in 2016, and $43.3 million in 2015. We received approximately $22 million in 2017, $71 million in 2016, and $104 million in 2015 from the exercise of stock options. The tax benefit associated with these exercised options was $10.1 million in 2017, $11.3 million in 2016, and $15.6 million in 2015. The intrinsic value of a stock option 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 performance-based awards granted to eligible employees under our equity plans. 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 the achievement of the performance objectives established for the award. The actual number of shares issued can range from 0% to 200% of the target shares at the time of grant. The weighted-average grant date fair value for PUs was $82.15, $68.04, and $51.37 in 2017, 2016, and 2015, respectively.

The following table summarizes information related to awarded PUs:

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

Unvested at December 31, 2016		490.8		$	58.47
Granted at target		164.4			82.15
Adjustment for above-target performance (1)		114.2			48.59
Vested		(231.5	)		48.26
Forfeited/cancelled		(52.8	)		66.08

Unvested at December 30, 2017		485.1		$	68.15

(1)	Reflects adjustments for awards vesting based on above-target performance for the 2014-2016 performance period.

The fair value of vested PUs was $11.2 million in 2017, $13.8 million in 2016, and $12.2 million in 2015.

Market-Leveraged Stock Units ("MSUs")

MSUs are performance-based awards granted to eligible employees under our equity plans. MSUs are payable in shares of our common stock over a four-year period provided that the performance objective is achieved as of the end of each vesting period. MSUs accrue dividend equivalents during the vesting period, which are earned and paid only at vesting provided that, at a minimum, threshold performance is achieved. The number of 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 stock price volatility and other assumptions, to estimate the probability of achieving the performance objective established for the award. The weighted-average grant date fair value for MSUs was $91.40, $72.93, and $56.46 in 2017, 2016, and 2015, respectively.

The following table summarizes information related to awarded MSUs:

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

Unvested at December 31, 2016		530.7		$	62.09
Granted at target		123.7			91.40
Adjustments for above-target performance (1)		126.0			55.24
Vested		(342.0	)		56.33
Forfeited/cancelled		(34.8	)		71.15

Unvested at December 30, 2017		403.6		$	70.07

(1)	Reflects adjustments for awards vesting based on above-target performance for each of the performance periods vesting in 2017.

The fair value of vested MSUs was $19.3 million in 2017, $12.4 million in 2016, and $9.8 million in 2015.

Restricted Stock Units ("RSUs")

RSUs are service-based awards granted to eligible employees under our equity plans, which generally vest ratably over a period of four years for employees. Prior to 2017, RSUs granted to non-employee directors under our equity plans vested ratably over a period of three years. Beginning in 2017, RSUs granted to non-employee directors generally vest over a period of one year. The vesting of RSUs is subject to continued service through the applicable vesting date. If that condition is not met, unvested RSUs are generally forfeited. The weighted-average grant date fair value for RSUs was $82.77, $67.66, and $53.29 in 2017, 2016, and 2015, respectively.

The following table summarizes information related to awarded RSUs:

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

Unvested at December 31, 2016		117.7		$	58.87
Granted		74.5			82.77
Vested		(47.6	)		55.72
Forfeited/cancelled		(4.2	)		59.53

Unvested at December 30, 2017		140.4		$	72.62

The fair value of vested RSUs was $2.7 million, $5.3 million, and $8.4 million in 2017, 2016, and 2015, respectively.

Cash-Based Awards

Long-Term Incentive Units ("LTI Units")

LTI Units are granted to eligible employees under our long-term incentive unit plan. 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.

We also grant 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 periods. 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 LTI Units was $36.6 million in 2017, $23.8 million in 2016, and $27.1 million in 2015. This expense was included in "Marketing, general and administrative expense" in the Consolidated Statements of Income. The total recognized tax benefit related to LTI Units was $8.3 million in 2017, $7.8 million in 2016, and $8.6 million in 2015.

COST REDUCTION ACTIONS

12 Months Ended

Dec. 30, 2017

COST REDUCTION ACTIONS

COST REDUCTION ACTIONS

NOTE 13. COST REDUCTION ACTIONS

Restructuring Charges

We have compensation plans that provide eligible employees with severance in the event of an involuntary termination. We calculate severance using benefit formulas under the respective plans. Accordingly, we record restructuring charges from qualifying cost reduction actions 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 in overseas jurisdictions, liabilities for restructuring charges are recognized when incurred.

2015/2016 Actions

During fiscal year 2017, we recorded $34.1 million in restructuring charges, net of reversals, related to restructuring actions initiated during the third quarter of 2015 ("2015/2016 Actions"). These charges consisted of severance and related costs for the reduction of approximately 920 positions, lease cancellation costs, and asset impairment charges.

During fiscal year 2016, we recorded $20.9 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 440 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.

Prior Actions

During fiscal year 2015, we recorded $33.4 million in restructuring charges, net of reversals, related to prior restructuring actions. These charges consisted of severance and related costs for the reduction of approximately 605 positions, lease cancellation costs, and asset impairment charges.

Accruals for severance and related costs and lease cancellation costs were included in "Other accrued liabilities" in the Consolidated Balance Sheets. Asset impairment charges were based on the estimated market value of the assets, less selling costs, if applicable. Restructuring charges in continuing operations were included in "Other expense, net" in the Consolidated Statements of Income.

During 2017, restructuring charges and payments were as follows:

(In millions)	Accrual at December 31, 2016		Charges (Reversals), net			Cash Payments			Non-cash Impairment			Foreign Currency Translation			Accrual at December 30, 2017

2015/2016 Actions
Severance and related costs	$	3.3	$	31.9		$	(30.8	)	$	–		$	(.1	)	$	4.3
Lease cancellation costs		.2		1.2			(.8	)		–			–			.6
Asset impairment charges		–		1.0			–			(1.0	)		–			–
Prior actions
Severance and related costs		1.3		(.7	)		(.6	)		–			–			–

Total	$	4.8	$	33.4		$	(32.2	)	$	(1.0	)	$	(.1	)	$	4.9

During 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 December 31, 2016

2015/2016 Actions
Severance and related costs	$	8.4	$	15.7		$	(20.9	)	$	–		$	.1	$	3.3
Asset impairment charges		–		4.1			–			(4.1	)		–		–
Lease cancellation costs		.2		1.1			(1.1	)		–			–		.2
Prior actions
Severance and related costs		5.5		(1.0	)		(3.2	)		–			–		1.3

Total	$	14.1	$	19.9		$	(25.2	)	$	(4.1	)	$	.1	$	4.8

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

(In millions)	2017		2016		2015

Restructuring charges by reportable segment and Corporate
Label and Graphic Materials	$	14.8	$	8.5	$	13.6
Retail Branding and Information Solutions		18.4		10.5		35.7
Industrial and Healthcare Materials		.2		.9		8.0
Corporate		–		–		2.2

Total	$	33.4	$	19.9	$	59.5

TAXES BASED ON INCOME

12 Months Ended

Dec. 30, 2017

TAXES BASED ON INCOME

TAXES BASED ON INCOME

NOTE 14. TAXES BASED ON INCOME

Taxes based on income were as follows:

(In millions)	2017			2016			2015

Current:
U.S. federal tax	$	47.0		$	10.1		$	26.4
State taxes		.2			.6			(.1	)
International taxes		111.0			77.3			92.7

		158.2			88.0			119.0

Deferred:
U.S. federal tax		134.8			64.4			6.3
State taxes		(3.7	)		(3.0	)		.5
International taxes		18.4			7.0			8.7

		149.5			68.4			15.5

Provision for income taxes	$	307.7		$	156.4		$	134.5

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

(In millions)	2017			2016			2015

Computed tax at 35% of income before taxes	$	206.7		$	167.0		$	143.1
Increase (decrease) in taxes resulting from:
State taxes, net of federal tax benefit		(3.2	)		2.2			1.3
Tax Cuts and Jobs Act (1)		172.0			–			–
Foreign earnings taxed at different rates (2)		(40.2	)		27.0			(7.5	)
Excess tax benefits associated with stock-based payments (3)		(16.0	)		–			–
Valuation allowance		(1.4	)		(11.9	)		.9
Corporate-owned life insurance		(6.7	)		(4.3	)		(1.9	)
U.S. federal research and development tax credits		(4.9	)		(2.9	)		(2.6	)
Tax contingencies and audit settlements		(1.9	)		(20.7	)		5.1
Other items, net		3.3			–			(3.9	)

Provision for income taxes	$	307.7		$	156.4		$	134.5

(1)	During 2017, we recognized a net tax charge of $172 million as a result of the TCJA. This amount includes the direct impacts of the TCJA, including items that would otherwise be separately disclosed as tax effects of foreign earnings taxed at different rates, tax contingencies and audit settlements, and other items.
(2)	Included foreign earnings taxed in the U.S., net of credits, in all years.
(3)	During 2017, we recognized a tax benefit of $16 million as a result of our adoption of the accounting guidance update related to stock-based payments.

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

(In millions)	2017		2016		2015

U.S.	$	49.0	$	17.9	$	33.9
International		540.5		459.2		375.0

Income from continuing operations before taxes	$	589.5	$	477.1	$	408.9

The effective tax rate for continuing operations was 52.2%, 32.8%, and 32.9% for fiscal years 2017, 2016, and 2015, respectively.

The 2017 effective tax rate for continuing operations included a net tax charge of $172 million related to the enactment of the TCJA, $5.1 million of tax benefit from the release of valuation allowance on certain state deferred tax assets, $4.2 million of tax benefit, including previously accrued interest and penalties, from effective settlements and changes in our judgment about tax filing positions as a result of new information, and $4.4 million of tax benefit from decreases in certain tax reserves, including interest and penalties, as a result of closing tax years.

The 2017 effective tax rate also included a net benefit of $16 million related to our adoption of the accounting guidance update related to stock-based payments described in Note 1, "Summary of Significant Accounting Policies." This accounting guidance update required that the effect of excess tax benefits associated with stock-based payments to be recognized in the income statement instead of in capital in excess of par value as was the case prior to our adoption of this update. Excess tax benefits are the effects of tax deductions in excess of compensation expense recognized for financial accounting purposes. These benefits related to stock-based awards generally are generated as a result of stock price appreciation during the vesting period or between the time of grant and the time of exercise. We expect future excess tax benefits to vary depending on our stock-based payments in future reporting periods. These excess tax benefits may cause variability in our future effective tax rate as they can fluctuate based on vesting and exercise activity, as well as our future stock price.

In 2017, as a result of intra-entity sales and transfers of assets other than inventory related to the recent integration of an acquisition, we recognized a total of approximately $14 million of tax-related deferred charges in "Other current assets" and "Other assets." However, we expect the tax-related deferred charges to be derecognized as an adjustment to retained earnings upon our adoption of the accounting guidance update described in Note 1, "Summary of Significant Accounting Policies."

The 2016 effective tax rate for continuing operations included $7.6 million of tax expense associated with the cost to repatriate current earnings of certain foreign subsidiaries and $46.3 million of tax expense related to U.S. income and foreign withholding taxes resulting from changes in indefinite reinvestment assertions on certain foreign earnings and profits; benefits from changes in certain tax reserves, including interest and penalties, of $16.8 million resulting from settlements of certain foreign audits and $5.4 million resulting from expirations of statutes of limitations; benefits of $6.7 million from the release of valuation allowances against certain deferred tax assets in a foreign jurisdiction associated with a structural simplification approved by the tax authority and $3.6 million from the release of valuation allowances on certain state deferred tax assets; and $8.4 million of tax expense from deferred tax adjustments resulting from tax rate changes in certain foreign jurisdictions.

We assess the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use existing deferred tax assets. On the basis of our assessment, we record valuation allowances only with respect to the portion of the deferred tax asset that is more likely than not to be realized. Our assessment of the future realizability of our deferred tax assets relies heavily on our forecasted earnings in certain jurisdictions, and such forecasted earnings are determined by the manner in which we operate our business. Any changes to our operations may affect our assessment of deferred tax assets considered realizable if the positive evidence no longer outweighs the negative evidence.

In connection with our initiatives to simplify our corporate legal entity and intercompany financing structures, we evaluated the facts and circumstances surrounding the indefinite reinvestment assertions on certain foreign earnings and profits that would be affected as a result of our actions to improve structural and operational efficiency. Our evaluation considered working capital, long-term liquidity, capitalization improvement, acquisition plans, and alignment of our existing structure with long-term strategic plans. As a result of this evaluation, we determined that the excess of the amount for financial reporting over the tax basis of investments in certain foreign subsidiaries is subject to reversal in the foreseeable future and we recorded a tax provision for the effects of changes in indefinite reinvestment assertions in 2016.

The 2015 effective tax rate for continuing operations included tax expense of $20 million associated with the tax cost to repatriate current earnings of certain foreign subsidiaries; benefits from changes in certain tax reserves, including interest and penalties, of $5.8 million resulting from settlements of audits and $8.2 million resulting from expirations of statutes of limitations; and a tax benefit of $2.6 million from the extension of the federal research and development credit, as a result of the enactment of the Protecting Americans from Tax Hikes Act of 2015 ("PATH Act"), which included a provision making permanent the federal research and development tax credit for the tax years 2015 and beyond. The PATH Act also retroactively extended the controlled foreign corporation ("CFC") look-through rule that had expired on December 31, 2014.

U.S. Tax Reform

On December 22, 2017, the TCJA was enacted in the U.S. The TCJA significantly revises U.S. corporate income taxation by, among other changes, lowering corporate income tax rates to 21%, implementing a modified territorial tax regime and imposing a one-time transition tax through a deemed repatriation of accumulated untaxed earnings and profits of foreign subsidiaries.

Based on currently available information, we included a provisional amount of $172 million as the estimated impact resulting from the TCJA in our results for the fourth quarter and full year 2017. This provisional amount includes expenses of $147 million related to the estimated transition tax, $49.2 million resulting from the estimated remeasurement of net U.S. deferred tax assets at the lower corporate income tax rate, a $9.3 million reserve related to potential uncertainties of our accumulated tax attributes that were used in our estimated transition tax calculation, $5.3 million from the estimated reduction of previously recognized U.S. deferred tax assets that we no longer anticipate to benefit from due to changes in the future deductibility of executive compensation, partially offset by a net benefit of $38.8 million, primarily from the reversal of the deferred tax liability that we previously recorded for future tax costs associated with repatriations of certain foreign earnings and profits that we consider not to be indefinitely reinvested.

We have not finalized the accounting for income tax effects of the TCJA and we are relying on the guidance in SAB 118 to include our provisional amount of the accounting impact of the TCJA in our financial statements for the fourth quarter and full year 2017. Specifically, the provisional amount recorded includes the transition tax, the remeasurement of deferred taxes and uncertain tax positions as they related to the TCJA, changes to certain estimates and amounts related to earnings and profits of and taxes paid by certain foreign subsidiaries, changes in limitations governing the future deductibility of our previously recorded deferred tax assets on executive compensation, and an accrual for foreign withholding taxes associated with our previous indefinite reinvestment assertions. Furthermore, we are still in the process of analyzing the effects of new tax provisions related to certain types of foreign incomes, such as Global Intangible Low-taxed Income ("GILTI"), Base Erosion Antiabuse Tax ("BEAT"), and Foreign Derived Intangible Income ("FDII"), as well as other domestic provisions that are effective starting in 2018. Additionally, we are reevaluating our previous indefinite reinvestment assertions and, should we decide to change such assertions, we will adjust our income tax provision in the period in which such determination is made. We have not made a determination on our accounting policy choice of whether to treat taxes on our GILTI as period costs or to recognize deferred taxes for basis differences expected to reverse as GILTI. The final impact of the TCJA may materially differ from our provisional amount, due to, among other things, further refinement of our data, calculations and analysis, changes in interpretations and assumptions, regulatory and administrative guidance, and actions we may take as a result of the TCJA.

The TCJA implements a modified territorial tax regime that provides a full exemption for foreign dividends received by a U.S. corporation from a foreign corporation in which the U.S. corporation owns at least a 10% stake. In connection with the full dividend exemption, the TCJA also eliminates future foreign tax credits for foreign income taxes or withholding taxes paid or accrued with respect to any dividend to which the new exemption applies. Absent the availability of foreign tax credits to offset against potential foreign withholding taxes related to future repatriation of certain foreign earnings and profits that we consider not to be indefinitely reinvested, we reflected a net incremental impact of $11.5 million as an increase to our deferred tax liability. This tax expense was included in our provisional amount of $172 million referenced above. For the remaining undistributed earnings of our foreign subsidiaries, we continue to consider such earnings to be indefinitely reinvested according to our current operating plans and no deferred tax liability has been recorded for potential future taxes related to such earnings. The imposition of the transition tax by the TCJA significantly reduced the largest component of potential future tax liabilities associated with future repatriation of our foreign earnings and profits. As a result, we continue to evaluate our previous indefinite reinvestment assertions and, should we decide to change such assertions, we will adjust our income tax provision in the period in which such determination is made.

SAB 118 provides for a measurement period up to one year from the enactment of the TCJA within which we may complete our final assessment of the legislation's impact. We will reflect and disclose in subsequent reporting periods any material adjustments to our provisional amount.

As a result of the transition tax imposed by the TCJA, we expect to fully utilize all of our U.S. federal tax credit carryforwards of $101.2 million, causing a reduction in our non-current deferred tax assets at the end of 2017. The estimated cash tax impact of the transition tax is $27.8 million, net of tax credit carryforwards and expected tax credits estimated to be generated in 2017. We will elect to pay the transition cash tax over an eight-year period, interest free, with the first installment due in 2018. Accordingly, we classified the first installment of $2.2 million in our current income taxes payable and the remaining $25.6 million in our non-current income taxes payable. We did not discount the cash tax related to the transition tax pursuant to the exposure draft issued by the FASB in January 2018. We neither expect our future cash tax rate to be materially impacted by the transition tax nor our future cash tax rate to benefit significantly from the reduction in the U.S. corporate income tax rate.

Undistributed Foreign Earnings and Profits

As of December 30, 2017, we have accumulated undistributed earnings and profits of foreign subsidiaries of approximately $2.9 billion, $2.5 billion of which was subject to the transition tax associated with the TCJA and $.4 billion of which was otherwise previously taxed. Deferred income taxes for approximately $2.3 billion of these accumulated undistributed earnings and profits of foreign subsidiaries have not been provided as of December 30, 2017 since they are intended to be indefinitely reinvested in foreign operations. Notwithstanding the fact that the TCJA reduced the significance of the U.S. federal income tax consequences of future repatriation, we continue to face uncertainties that significantly limit our ability to determine the amount of potential unrecognized deferred tax liabilities related to our indefinite reinvestment in our foreign subsidiaries. These uncertainties include, but are not limited to, the timing, amount, and sequence of repatriation transactions; future foreign currency fluctuations; local country tax laws or applicable treaty exemptions; entity classification and ownership status; and the corporate actions we ultimately take to reverse our investment basis differences at the time of assumed repatriation. As a result, we believe it continues to be not practicable to calculate the deferred taxes associated with these indefinitely reinvested earnings and profits. In making this assertion, we evaluated, 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, dividends, and share repurchases.

Deferred Income Taxes

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)	2017			2016

Accrued expenses not currently deductible	$	19.9		$	42.1
Net operating losses		185.9			195.9
Tax credit carryforwards		14.0			111.3
Stock-based compensation		18.0			28.4
Pension and other postretirement benefits		140.9			207.7
Inventory reserves		6.5			7.1
Unrealized foreign currency losses (1)		14.9			–
Other assets		6.3			.9
Valuation allowance		(63.4	)		(60.4	)

Total deferred tax assets (2)		343.0			533.0

Depreciation and amortization		(95.3	)		(86.1	)
Repatriation accrual (3)		(27.7	)		(62.1	)
Foreign operating loss recapture		(54.9	)		(79.8	)
Other liabilities		(8.8	)		(2.3	)

Total deferred tax liabilities (2)		(186.7	)		(230.3	)

Total net deferred tax assets	$	156.3		$	302.7

(1)	Primarily reflect the unrealized foreign currency losses in 2017 related to our net investment hedge described in Note 5, "Financial Instruments."
(2)	Reflect gross amounts before jurisdictional netting of deferred tax assets and liabilities.
(3)	The repatriation accruals as of December 30, 2017 and December 31, 2016 primarily include net deferred tax liabilities of $27.7 million and $62.4 million, respectively, associated with the future tax cost to repatriate earnings of our foreign subsidiaries that are not indefinitely reinvested.

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 30, 2017 and December 31, 2016 was $63.4 million and $60.4 million, respectively.

Net operating loss carryforwards of foreign subsidiaries at December 30, 2017 and December 31, 2016 were $633.7 million and $689.9 million, respectively. Tax credit carryforwards of both domestic and foreign subsidiaries at December 30, 2017 and December 31, 2016 totaled $14 million and $111.3 million, respectively. If unused, foreign net operating losses and tax credit carryforwards will expire as follows:

(In millions) Year of Expiry	Net Operating Losses (1)		Tax Credits

2018	$	14.3	$	.1
2019		4.8		.1
2020		5.5		.2
2021		3.5		.4
2022		9.8		.5
2023		5.0		.5
2024		.4		.3
2025		2.3		.3
2026		.9		1.6
2027		.8		.3
2028		–		.1
2029		–		.1
2030		–		.2
2031		–		.3
2032		–		.4
2033		–		–
2034		.7		–
2035		–		–
2036		–		–
2037		–		–
Indefinite life/no expiry		585.7		8.6

Total	$	633.7	$	14.0

(1)	Net operating losses are presented before tax effect and valuation allowance.

Based on current projections, certain indefinite-lived foreign net operating losses may take up to 50 years to be fully utilized.

At December 30, 2017, we had net operating loss carryforwards in certain state jurisdictions of $523 million before tax effect. Based on our current ability to generate state taxable income, it is more likely than not that the majority of these carryforwards will not be realized before they expire. Accordingly, a valuation allowance has been recorded on $521.1 million of the carryforwards.

As of December 30, 2017, our provision for income taxes does not reflect any material benefits from applicable tax holidays in foreign jurisdictions.

Unrecognized Tax Benefits

As of December 30, 2017, our unrecognized tax benefits totaled $108.7 million, $83.9 million of which, if recognized, would reduce our annual effective income tax rate. As of December 31, 2016, our unrecognized tax benefits totaled $89.5 million, $71.5 million of which, if recognized, would reduce our annual effective income tax rate.

Where applicable, we record potential accrued interest and penalties related to unrecognized tax benefits from our global operations in income tax expense. As a result, we recognized tax expense of $1.5 million, tax expense of $3.1 million, and tax benefit of $1.3 million in the Consolidated Statements of Income in 2017, 2016, and 2015, respectively. We have accrued $25.8 million and $22.3 million for interest and penalties, net of tax benefit, in the Consolidated Balance Sheets at December 30, 2017 and December 31, 2016, respectively.

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

(In millions)	2017			2016

Balance at beginning of year	$	89.5		$	107.3
Additions for tax positions of the current year		14.1			6.9
Additions (reductions) for tax positions of prior years		3.0			(15.7	)
Settlements with tax authorities		(1.6	)		(2.1	)
Expirations of statutes of limitations		(2.7	)		(4.2	)
Changes due to translation of foreign currencies		6.4			(2.7	)

Balance at end of year	$	108.7		$	89.5

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. As of the date the 2017 Consolidated Financial Statements are being issued, we and our U.S. subsidiaries have completed the Internal Revenue Service's Compliance Assurance Process Program through 2016. We also expect a German tax audit for tax years 2006-2010 to be completed in 2018. We are subject to routine tax examinations in other jurisdictions. 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 $22 million, primarily as a result of audit settlements and closing tax years.

SEGMENT INFORMATION

12 Months Ended

Dec. 30, 2017

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 15. SEGMENT INFORMATION

Segment Reporting

We have the following reportable segments:


	•	Label and Graphic Materials – manufactures and sells pressure-sensitive labeling technology and materials and films for graphic and reflective applications;
	•	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; and
	•	Industrial and Healthcare Materials – manufactures performance tapes, fastener solutions, and an array of pressure-sensitive adhesive products for various medical applications.

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 neither generate nor review such information internally. As our reporting structure is neither organized nor reviewed internally by country, results by individual country are not provided.

Financial information from continuing operations by reportable segment is set forth below:

(In millions)	2017			2016			2015

Net sales to unaffiliated customers
Label and Graphic Materials	$	4,511.7		$	4,187.3		$	4,032.1
Retail Branding and Information Solutions		1,511.2			1,445.4			1,443.4
Industrial and Healthcare Materials		590.9			453.8			491.4

Net sales to unaffiliated customers	$	6,613.8		$	6,086.5		$	5,966.9

Intersegment sales
Label and Graphic Materials	$	64.1		$	63.4		$	61.3
Retail Branding and Information Solutions		3.2			2.9			2.9
Industrial and Healthcare Materials		7.7			7.2			14.8

Intersegment sales	$	75.0		$	73.5		$	79.0

Income from continuing operations before taxes
Label and Graphic Materials	$	567.3		$	516.2		$	453.4
Retail Branding and Information Solutions		122.9			102.6			51.6
Industrial and Healthcare Materials		50.5			54.6			57.1
Corporate expense		(88.2	)		(136.4	)		(92.7	)
Interest expense		(63.0	)		(59.9	)		(60.5	)

Income from continuing operations before taxes	$	589.5		$	477.1		$	408.9

Capital expenditures
Label and Graphic Materials	$	125.5		$	118.8		$	68.3
Retail Branding and Information Solutions		48.8			50.9			51.0
Industrial and Healthcare Materials		19.5			7.2			19.6

Capital expenditures	$	193.8		$	176.9		$	138.9

Depreciation and amortization expense
Label and Graphic Materials	$	102.3		$	103.1		$	104.9
Retail Branding and Information Solutions		56.4			64.3			70.6
Industrial and Healthcare Materials		20.0			12.7			12.8

Depreciation and amortization expense	$	178.7		$	180.1		$	188.3

Other expense, net by reportable segment
Label and Graphic Materials	$	14.5		$	13.0		$	12.1
Retail Branding and Information Solutions		18.1			9.8			45.7
Industrial and Healthcare Materials		3.7			1.9			8.0
Corporate		.2			40.5			2.5

Other expense, net	$	36.5		$	65.2		$	68.3

Other expense, net by type
Restructuring charges:
Severance and related costs	$	31.2		$	14.7		$	52.5
Asset impairment charges and lease cancellation costs		2.2			5.2			7.0
Other items:
Transaction costs		5.2			5.0			–
Net gains on sales of assets		(2.1	)		(1.1	)		(1.7	)
Net loss from curtailment and settlement of pension obligations		–			41.4			.3
Legal settlements		–			–			(.3	)
Loss on sale of product line and related exit costs		–			–			10.5

Other expense, net	$	36.5		$	65.2		$	68.3

Within our Industrial and Healthcare Materials reportable segment, net sales to unaffiliated customers for the combined Performance Tapes and Vancive Medical Technologies product groups were $515.1 million, $377.4 million, and $414.6 million in 2017, 2016, and 2015, respectively.

Revenues from continuing operations by geographic area are set forth below. Revenues are attributed to geographic areas based on the location from which the product is shipped.

(In millions)	2017		2016		2015

Net sales to unaffiliated customers
U.S.	$	1,557.8	$	1,525.6	$	1,546.8
Europe		2,041.6		1,838.8		1,753.0
Asia		2,250.5		1,996.1		1,924.0
Latin America		476.4		450.5		466.3
Other international		287.5		275.5		276.8

Net sales to unaffiliated customers	$	6,613.8	$	6,086.5	$	5,966.9

Net sales to unaffiliated customers in Asia included sales in China (including Hong Kong) of $1.3 billion in 2017, and $1.14 billion in both 2016 and 2015.

Property, plant and equipment, net, in our U.S. and international operations was as follows:

(In millions)	2017		2016		2015

Property, plant and equipment, net
U.S.	$	286.4	$	278.5	$	263.4
International		811.5		636.7		584.5

Property, plant and equipment, net	$	1,097.9	$	915.2	$	847.9

SUPPLEMENTAL FINANCIAL INFORMATION

12 Months Ended

Dec. 30, 2017

SUPPLEMENTAL FINANCIAL INFORMATION

SUPPLEMENTAL FINANCIAL INFORMATION

NOTE 16. SUPPLEMENTAL FINANCIAL INFORMATION

Inventories

Net inventories at year-end were as follows:

(In millions)	2017		2016

Raw materials	$	214.6	$	185.0
Work-in-progress		179.8		156.8
Finished goods		215.2		177.3

Inventories, net	$	609.6	$	519.1

Property, Plant and Equipment

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

(In millions)	2017			2016

Land	$	31.1		$	29.3
Buildings and improvements		638.9			565.3
Machinery and equipment		2,188.2			1,949.5
Construction-in-progress		142.7			117.3

Property, plant and equipment		3,000.9			2,661.4
Accumulated depreciation		(1,903.0	)		(1,746.2	)

Property, plant and equipment, net	$	1,097.9		$	915.2

Software

Capitalized software costs at year-end were as follows:

(In millions)	2017			2016

Cost	$	428.9		$	415.5
Accumulated amortization		(301.8	)		(297.9	)

Software, net	$	127.1		$	117.6

Software amortization expense from continuing operations was $29.3 million in 2017, $37.9 million in 2016, and $37.6 million in 2015.

Equity Method Investment

In October 2016, we acquired a 22.6% interest in PragmatIC Printing Limited ("PragmatIC"), a company that develops flexible electronics technology. PragmatIC's primary assets are intangible assets related to its technology. We used the equity method to account for this investment. The carrying values of this investment were $9.1 million and $9.5 million as of December 30, 2017 and December 31, 2016, respectively, and were included in "Other assets" in the Consolidated Balance Sheets.

Research and Development

Research and development expense from continuing operations, which is included in "Marketing, general and administrative expense" in the Consolidated Statements of Income, was as follows:

(In millions)	2017		2016		2015

Research and development expense	$	93.4	$	89.7	$	91.9

Supplemental Cash Flow Information

Cash paid for interest and income taxes, including amounts paid for discontinued operations, were as follows:

(In millions)	2017		2016		2015

Interest, net of capitalized amounts	$	57.7	$	58.9	$	60.1
Income taxes, net of refunds		125.6		106.1		129.9

Foreign Currency Effects

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 $4.1 million, $1.6 million, and $6.1 million in 2017, 2016, and 2015, respectively.

We had no operations in hyperinflationary economies in fiscal years 2017, 2016, or 2015.

Discontinued Operations

Loss from discontinued operations, net of tax, for 2015 included tax expense related to the completion of certain tax returns related to the sale of our former OCP and DES businesses. We continue to be subject to certain indemnification obligations under the terms of the purchase agreement.

Sale of Product Line

In May 2015, we sold certain assets and transferred certain liabilities associated with a product line in our RBIS reportable segment for $1.5 million. The pre-tax loss from the sale, when combined with exit costs related to the sale, totaled $8.5 million. The exit costs included $3.4 million of severance costs. In the first quarter of 2015, we recorded an impairment charge of approximately $2 million related to certain long-lived assets in this product line. This loss and these costs were included in "Other expense, net" in the Consolidated Statements of Income.

QUARTERLY FINANCIAL INFORMATION (Unaudited)

12 Months Ended

Dec. 30, 2017

QUARTERLY FINANCIAL INFORMATION (Unaudited)

QUARTERLY FINANCIAL INFORMATION (Unaudited)

NOTE 17. QUARTERLY FINANCIAL INFORMATION (Unaudited)

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

2017
Net sales	$	1,572.1	$	1,626.9	$	1,679.5	$	1,735.3
Gross profit		442.4		452.6		451.6		465.6
Net income (loss) (1)		112.2		120.9		108.3		(59.6	)
Net income (loss) per common share		1.27		1.37		1.23		(.68	)
Net income (loss) per common share, assuming dilution		1.25		1.34		1.20		(.66	)

2016
Net sales	$	1,485.5	$	1,541.5	$	1,508.7	$	1,550.8
Gross profit		422.6		434.1		417.6		425.4
Net income		89.6		80.0		89.1		62.0
Net income per common share		1.00		.90		1.00		.70
Net income per common share, assuming dilution		.98		.88		.98		.69


(1)	During the fourth quarter of 2017, we recognized a net tax charge of $172 million as a result of the TCJA.

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

(In millions)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

2017
Restructuring charges:
Severance and related costs	$	5.7	$	7.3	$	8.7	$	9.5
Asset impairment charges and lease cancellation costs		–		.3		1.8		.1
Other items:
Net gains on sales of assets		–		–		–		(2.1	)
Transaction costs		.8		2.6		.3		1.5

Other expense, net	$	6.5	$	10.2	$	10.8	$	9.0

2016
Restructuring charges:
Severance and related costs	$	5.2	$	3.6	$	1.9	$	4.0
Asset impairment charges and lease cancellation costs		.4		2.8		.7		1.3
Other items:
Loss from settlement of pension obligations		–		41.4		–		–
Loss (gain) on sales of assets		–		.3		–		(1.4	)
Transaction costs		–		2.1		2.0		.9

Other expense, net	$	5.6	$	50.2	$	4.6	$	4.8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 30, 2017

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

Principles of Consolidation

Fiscal Year

Financial Presentation

Accounting Guidance Update

Use of Estimates

Cash and Cash Equivalents

Accounts Receivable


	•	Customer-specific allowances;
	•	Amounts based upon an aging schedule; and
	•	An amount based on our historical experience.

Inventories

Property, Plant and Equipment

Software

Impairment of Long-lived Assets

Goodwill and Other Intangibles Resulting from Business Acquisitions

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

Foreign Currency

Financial Instruments

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

We also utilize certain foreign-currency-denominated debt to mitigate our foreign currency translation exposure from our net investment in foreign operations.

See also Note 5, "Financial Instruments," for more information.

Fair Value Measurements

Revenue Recognition

Research and Development

Research and development costs are related to research, design, and testing of new products and applications and are expensed as incurred.

Long-Term Incentive Compensation

No long-term incentive compensation expense was capitalized in 2017, 2016, or 2015.

Changes in estimated forfeiture rates are recorded as cumulative adjustments in the period that the estimates are revised.

Valuation of Stock-Based Awards

Valuation of Cash-Based Awards

See also Note 12, "Long-term Incentive Compensation," for more information.

Taxes Based on Income

See also Note 14, "Taxes Based on Income," for more information.

Recent Accounting Requirements

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 30, 2017

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS

Changes in net carrying amount of goodwill

(In millions)		Label and Graphic Materials			Retail Branding and Information Solutions			Industrial and Healthcare Materials			Total

Goodwill as of January 2, 2016		$	277.9		$	408.3		$	–		$	686.2
Acquisitions (1)			107.8			–			14.3			122.1
Transfer (2)			–			(53.1	)		53.1			–
Translation adjustments			(12.4	)		(1.3	)		(1.0	)		(14.7	)

Goodwill as of December 31, 2016			373.3			353.9			66.4			793.6
2017 Acquisitions (1)			17.5			–			125.5			143.0
Acquisition adjustments (3)			4.8			–			.7			5.5
Translation adjustments			33.9			1.5			7.6			43.0

Goodwill as of December 30, 2017		$	429.5		$	355.4		$	200.2		$	985.1


(1)	Goodwill acquired in 2016 primarily related to the Mactac acquisition. Goodwill acquired in 2017 related to the acquisitions of Hanita, which is included in our Label and Graphic Materials ("LGM") reportable segment, and Finesse Medical and Yongle Tape, which are included in our Industrial and Healthcare Materials ("IHM") reportable segment.
(2)	In connection with our 2016 change in operating structure, we allocated goodwill associated with our fastener solutions reporting unit from our Retail Branding and Information Solutions ("RBIS") reportable segment to IHM based on the relative fair values of our fastener solutions and RBIS reporting units. Prior to 2016, no reporting units within IHM had allocated goodwill. Refer to Note 1, "Summary of Significant Accounting Policies," for more information.
(3)	Goodwill purchase price allocation adjustments related to the acquisition of Mactac in August 2016.

Summary of the preliminary amounts and weighted useful lives of finite-lived intangible assets

	Amount (in millions)		Weighted-average amortization period (in years)

Customer relationships	$	71.5		16
Patents and other acquired technology		34.0		8
Trade names and trademarks		4.2		6

	Amount (in millions)		Weighted-average amortization period (in years)

Customer relationships	$	26.1		15
Patents and other acquired technology		2.5		4

Schedule of finite-lived intangible assets

	2017						2016
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Customer relationships (1)	$	329.2	$	226.4	$	102.8	$	247.1	$	209.4	$	37.7
Patents and other acquired technology (1)		86.9		51.3		35.6		52.0		46.7		5.3
Trade names and trademarks (2)		27.7		21.0		6.7		21.4		18.2		3.2
Other intangibles		12.0		12.0		–		11.7		11.5		.2

Total	$	455.8	$	310.7	$	145.1	$	332.2	$	285.8	$	46.4

(1)	Includes respective finite-lived intangible assets acquired from the 2017 Acquisitions and the Mactac acquisition.
(2)	Includes respective finite-lived intangible assets acquired from the 2017 Acquisitions.

Estimated amortization expense for finite lived intangible assets

(In millions)	Estimated Amortization Expense

2018	$	14.7
2019		13.9
2020		12.0
2021		11.8
2022		10.8

DEBT AND CAPITAL LEASES (Tables)

12 Months Ended

Dec. 30, 2017

DEBT AND CAPITAL LEASES

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

(In millions)	2017			2016

Long-term debt and capital leases
Medium-term notes:
Series 1995 due 2020 through 2025	$	44.9		$	44.9
Long-term notes:
Senior notes due 2017 at 6.6%		–			249.7
Senior notes due 2020 at 5.4%		249.5			249.3
Senior notes due 2023 at 3.4%		248.7			248.4
Senior notes due 2025 at 1.25%		588.4			–
Senior notes due 2033 at 6.0%		148.7			148.6
Capital leases		25.0			25.2
Other borrowings (1)		16.6			–
Less amount classified as current		(5.5	)		(252.7	)

Total long-term debt and capital leases (2)	$	1,316.3		$	713.4

(1)	Other borrowings consisted of long-term bank borrowings by foreign subsidiaries.
(2)	Includes unamortized debt issuance cost and debt discount of $7.1 million and $.7 million as of year-end 2017, respectively, and $3.6 million and $.4 million as of year-end 2016, respectively.

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

Year	(In millions)

2018 (classified as current)	$	6.4
2019		19.9
2020		269.3
2021		3.9
2022		3.4
2023 and thereafter		1,030.6

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 30, 2017

Components of the gains (losses), before taxes, recognized in "Accumulated other comprehensive loss" on derivatives related to cash flow hedge

(In millions)	2017			2016		2015

Foreign exchange contracts	$	(2.2	)	$	.2	$	(.1	)
Commodity contracts		(.6	)		.6		(.7	)

	$	(2.8	)	$	.8	$	(.8	)

Components of the net gains (losses) recognized in income related to other derivative instruments, which are not designated as hedging instruments

(In millions)	Location of Net Gains (Losses) in Income	2017			2016		2015

Foreign exchange contracts	Cost of products sold	$	(1.2	)	$	2.8	$	2.9
Foreign exchange contracts	Marketing, general and administrative expense		(42.9	)		4.1		2.9

		$	(44.1	)	$	6.9	$	5.8

Components of the gain (loss), before tax, recognized in Accumulated other comprehensive loss related to the net investment hedge

(In millions)	2017			2016		2015

Foreign currency denominated debt	$	(63.7	)	$	N/A	$	N/A

Cash Flow Hedging

Fair value and balance sheet locations of derivatives

	Asset					Liability
(In millions)	Balance Sheet Location	2017		2016		Balance Sheet Location	2017		2016

Foreign exchange contracts	Other current assets	$	.4	$	3.0	Other accrued liabilities	$	.6	$	1.0
Commodity contracts	Other current assets	–		.5		Other accrued liabilities	–		–
Commodity contracts	Other assets	–		.1

		$	.4	$	3.6		$	.6	$	1.0

Not designated as hedging instruments

Fair value and balance sheet locations of derivatives

	Asset					Liability
(In millions)	Balance Sheet Location	2017		2016		Balance Sheet Location	2017		2016

Foreign exchange contracts	Other current assets	$	3.5	$	1.6	Other accrued liabilities	$	5.6	$	6.8

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Dec. 30, 2017

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		(.2	)

Schedule of plan benefit obligations

		Pension Benefits												U.S. Postretirement Health Benefits
		2017						2016						2017			2016
(In millions)		U.S.			Int'l			U.S.			Int'l

Change in projected benefit obligations
Projected benefit obligations at beginning of year		$	1,033.7		$	762.9		$	1,088.9		$	674.7		$	5.0		$	5.9
Service cost			.5			18.2			.4			13.9			–			–
Interest cost			35.3			14.3			34.4			16.4			.1			.2
Participant contribution			–			3.4			–			2.9			.5			.5
Amendments			–			(2.1	)		–			(.6	)		–			–
Actuarial loss (gain)			73.1			(26.4	)		39.1			123.8			(.1	)		(.2	)
Plan transfers			–			(1.3	)		–			–			–			–
Acquisition (1)			–			–			–			14.6			–			–
Benefits paid			(60.5	)		(22.5	)		(59.9	)		(21.8	)		(1.4	)		(1.4	)
Curtailments			–			–			–			(.3	)		–			–
Settlements (2)			–			–			(69.2	)		–			–			–
Foreign currency translation			–			90.2			–			(60.7	)		–			–

Projected benefit obligations at end of year		$	1,082.1		$	836.7		$	1,033.7		$	762.9		$	4.1		$	5.0

Accumulated benefit obligations at end of year		$	1,082.1		$	355.6		$	1,033.7		$	704.8


(1)	In connection with the Mactac acquisition in August 2016, we assumed benefit obligations associated with two defined benefit plans in Belgium.
(2)	In 2016, settlements were related to the lump-sum pension payments associated with the ADPP.

Schedule of plan assets

	Pension Benefits												U.S. Postretirement Health Benefits
	2017						2016						2017			2016
(In millions)	U.S.			Int'l			U.S.			Int'l

Change in plan assets
Plan assets at beginning of year	$	672.1		$	584.2		$	704.9		$	552.1		$	–		$	–
Actual return on plan assets		90.1			34.2			42.9			79.4			–			–
Plan transfers		–			(.7	)		–			–			–			–
Acquisition (1)		–			–			–			8.9			–			–
Employer contributions		38.5			14.0			53.4			13.8			.9			.9
Participant contributions		–			3.4			–			2.9			.5			.5
Benefits paid		(60.5	)		(22.5	)		(59.9	)		(21.8	)		(1.4	)		(1.4	)
Settlements (2)		–			–			(69.2	)		–			–			–
Foreign currency translation		–			71.1			–			(51.1	)		–			–

Plan assets at end of year	$	740.2		$	683.7		$	672.1		$	584.2		$	–		$	–

(1)	In connection with the Mactac acquisition in August 2016, we assumed plan assets associated with two defined benefit plans in Belgium.
(2)	In 2016, settlements were related to the lump-sum pension payments associated with the ADPP.

Schedule of funded status

	Pension Benefits												U.S. Postretirement Health Benefits
	2017						2016						2017			2016
(In millions)	U.S.			Int'l			U.S.			Int'l

Funded status of the plans
Other accrued liabilities	$	(33.4	)	$	(2.4	)	$	(13.5	)	$	(2.0	)	$	(.5	)	$	(.8	)
Long-term retirement benefits and other liabilities (1)		(308.5	)		(150.6	)		(348.1	)		(176.7	)		(3.6	)		(4.2	)

Plan assets less than benefit obligations	$	(341.9	)	$	(153.0	)	$	(361.6	)	$	(178.7	)	$	(4.1	)	$	(5.0	)

(1)	In accordance with our funding strategy, we have the option to fund certain of these liabilities with proceeds from our corporate-owned life insurance policies.

Schedule of weighted-average assumptions used to determine year-end benefit obligations

													U.S. Postretirement
	Pension Benefits												Health Benefits
	2017						2016						2017			2016
	U.S.			Int'l			U.S.			Int'l

Weighted-average assumptions used to determine year-end benefit obligations
Discount rate		3.71	%		2.25	%		4.25	%		2.12	%		3.55	%		3.95	%
Compensation rate increase		–			2.29			–			2.27			–			–

Schedule of pre-tax amounts, recognized in "Accumulated other comprehensive loss"

	Pension Benefits										U.S. Postretirement Health Benefits
	2017					2016					2017			2016
(In millions)	U.S.		Int'l			U.S.		Int'l

Net actuarial loss	$	567.2	$	186.5		$	564.2	$	213.6		$	17.0		$	18.5
Prior service cost (credit)		16.7		(7.4	)		17.5		(4.9	)		(13.1	)		(16.4	)
Net transition obligation		–		.1			–		.2			–			–

Net amount recognized in accumulated other comprehensive loss	$	583.9	$	179.2		$	581.7	$	208.9		$	3.9		$	2.1

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

	Pension Benefits																		U.S. Postretirement Health Benefits
	2017						2016						2015						2017			2016			2015
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Net actuarial loss (gain)	$	21.8		$	(17.2	)	$	39.1		$	48.9		$	21.1		$	11.3		$	–		$	(.2	)	$	(1.4	)
Prior service (credit) cost		–			(2.1	)		–			(.6	)		–			(.7	)		–			–			–
Amortization of unrecognized:
Net actuarial loss		(18.7	)		(10.8	)		(19.0	)		(7.0	)		(20.0	)		(9.4	)		(1.5	)		(1.7	)		(2.2	)
Prior service (cost) credit		(.9	)		.4			(1.2	)		.4			(1.2	)		.3			3.3			3.2			3.3
Net transition obligation		–			–			–			(.1	)		–			–			–			–			–
Curtailments		–			–			–			–			–			.2			–			–			–
Settlements		–			–			(41.4	)		–			–			(4.3	)		–			–			–

Net amount recognized in other comprehensive (income) loss	$	2.2		$	(29.7	)	$	(22.5	)	$	41.6		$	(.1	)	$	(2.6	)	$	1.8		$	1.3		$	(.3	)

Schedule of components of net periodic benefit cost (credit)

	Pension Benefits																		U.S. Postretirement Health Benefits
	2017						2016						2015						2017			2016			2015
(In millions)	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Service cost	$	.5		$	18.2		$	.4		$	13.9		$	.4		$	13.8		$	–		$	–		$	–
Interest cost		35.3			14.3			34.4			16.4			45.8			17.3			.1			.1			.3
Actuarial (gain) loss		1.7			–			(.2	)		–			.4			–			–			–			–
Expected return on plan assets		(40.5	)		(21.1	)		(42.7	)		(21.4	)		(51.5	)		(21.5	)		–			–			–
Amortization of actuarial loss		18.7			10.8			19.0			7.0			20.0			9.4			1.5			1.7			2.2
Amortization of prior service cost (credit)		.9			(.4	)		1.2			(.4	)		1.2			(.3	)		(3.3	)		(3.2	)		(3.3	)
Amortization of transition obligation		–			–			–			.1			–			–			–			–			–
Recognized net (gain) loss on curtailments		–			–			–			(.2	)		–			(.2	)		–			–			–
Recognized loss on settlements (1)		–			–			41.4			–			–			4.3			–			–			–

Net periodic benefit cost (credit)	$	16.6		$	21.8		$	53.5		$	15.4		$	16.3		$	22.8		$	(1.7	)	$	(1.4	)	$	(.8	)

(1)

Schedule of weighted-average assumptions used to determine net periodic cost

	Pension Benefits																		U.S. Postretirement Health Benefits
	2017						2016						2015						2017			2016			2015
	U.S.			Int'l			U.S.			Int'l			U.S.			Int'l

Discount rate		4.18	%		2.12	%		4.55	%		2.95	%		4.00	%		2.54	%		3.95	%		4.13	%		3.50	%
Expected return on assets		7.00			3.77			7.25			4.14			7.50			4.27			–			–			–
Compensation rate increase		–			2.27			–			2.24			–			2.22			–			–			–

Schedule of defined benefit plan contributions

(In millions)

U.S.	$	34.0
Int'l		14.9
U.S. postretirement health benefits		.5

Schedule of anticipated future benefit payments

	Pension Benefits				U.S. Postretirement Health Benefits
(In millions)	U.S.		Int'l

2018	$	83.0	$	20.4	$	.5
2019		58.9		21.8		.4
2020		59.0		21.3		.3
2021		60.6		23.0		.3
2022		60.5		25.9		.3
2023 - 2027		305.9		145.5		1.3

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	$	20.8	$	8.1		$	1.4
Prior service cost (credit)		.8		(.5	)		(3.3	)
Net transition obligation		–		.1			–

Net loss (gain) to be recognized	$	21.6	$	7.7		$	(1.9	)

U.S.

Defined Benefit Plans

Schedule of fair value of plan assets

				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)

2017
Cash		$	–	$	–	$	–	$	–
Pooled funds – liability-hedging portfolio (1)			275.6
Pooled funds – growth portfolio (1)			464.6

Total U.S. plan assets		$	740.2

2016
Cash		$	–	$	–	$	–	$	–
Pooled funds – liability-hedging portfolio (1)			269.0
Pooled funds – growth portfolio (1)			403.1

Total U.S. plan assets		$	672.1


(1)	Pooled funds that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to reconcile to total U.S. plan assets.

Int'l

Defined Benefit Plans

Schedule of fair value of plan assets

			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)

2017
Cash	$	1.7	$	1.7	$	–	$	–
Insurance contracts		35.7		–		–		35.7
Pooled funds – fixed income securities (1)		278.5
Pooled funds – equity securities (1)		277.3
Pooled funds – other investments (1)		90.5

Total international plan assets at fair value	$	683.7

2016
Cash	$	3.0	$	3.0	$	–	$	–
Insurance contracts		30.5		–		–		30.5
Pooled funds – fixed income securities (1)		284.2
Pooled funds – equity securities (1)		223.4
Pooled funds – other investments (1)		43.1

Total international plan assets at fair value	$	584.2

(1)	Pooled funds that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to reconcile to total international plan assets.

Schedule of reconciliation of Level 3 assets

	Level 3 Assets
(In millions)	Insurance Contracts

Balance at December 31, 2016	$	30.5
Net realized and unrealized gain		.7
Purchases		2.8
Settlements		(1.4	)
Impact of changes in foreign currency exchange rates		3.1

Balance at December 30, 2017	$	35.7

COMMITMENTS (Tables)

12 Months Ended

Dec. 30, 2017

COMMITMENTS

Minimum annual rental commitments on operating leases

Year	(In millions)

2018	$	48.2
2019		35.8
2020		26.3
2021		18.2
2022		13.6
2023 and thereafter		47.6

Total minimum lease payments	$	189.7

CONTINGENCIES (Tables)

12 Months Ended

Dec. 30, 2017

CONTINGENCIES

Costs of environmental liabilities with remediation

(In millions)	2017			2016

Balance at beginning of year	$	21.3		$	17.7
Acquisitions		3.0			–
Charges (reversals), net		2.8			11.6
Payments		(6.0	)		(8.0	)

Balance at end of year	$	21.1		$	21.3

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 30, 2017

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 30, 2017:

			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	$	22.7	$	17.7	$	5.0	$	–
Derivative assets		3.9		–		3.9		–
Bank drafts		18.4		18.4		–		–
Liabilities
Derivative liabilities	$	6.2	$	.1	$	6.1	$	–
Contingent consideration liabilities		45.0		–		–		45.0

The following table provides the assets and liabilities carried at fair value, measured on a recurring basis, as of December 31, 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	$	18.1	$	11.7	$	6.4	$	–
Derivative assets		5.2		.6		4.6		–
Bank drafts		14.3		14.3		–		–
Liabilities
Derivative liabilities	$	7.8	$	–	$	7.8	$	–

NET INCOME PER COMMON SHARE (Tables)

12 Months Ended

Dec. 30, 2017

NET INCOME PER COMMON SHARE

Schedule of net income per common share

(In millions, except per share amounts)		2017		2016		2015

(A)	Income from continuing operations	$	281.8	$	320.7	$	274.4
(B)	Loss from discontinued operations, net of tax		–		–		(.1	)

(C)	Net income available to common shareholders	$	281.8	$	320.7	$	274.3

(D)	Weighted average number of common shares outstanding		88.3		89.1		91.0
	Dilutive shares (additional common shares issuable under stock-based awards)		1.8		1.6		1.9

(E)	Weighted average number of common shares outstanding, assuming dilution		90.1		90.7		92.9

Net income per common share:
Continuing operations (A) ÷ (D)		$	3.19	$	3.60	$	3.01
Discontinued operations (B) ÷ (D)			–		–		–

Net income per common share (C) ÷ (D)		$	3.19	$	3.60	$	3.01

Net income per common share, assuming dilution:
Continuing operations (A) ÷ (E)		$	3.13	$	3.54	$	2.95
Discontinued operations (B) ÷ (E)			–		–		–

Net income per common share, assuming dilution (C) ÷ (E)		$	3.13	$	3.54	$	2.95

SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION (Tables)

12 Months Ended

Dec. 30, 2017

SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION

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 (loss) income before reclassifications, net of tax		(53.7	)		(62.9	)		.7			(115.9	)
Reclassifications to net income, net of tax		–			44.2			2.8			47.0

Net current-period other comprehensive (loss) income, net of tax		(53.7	)		(18.7	)		3.5			(68.9	)

Balance as of December 31, 2016	$	(212.6	)	$	(540.3	)	$	1.0		$	(751.9	)
Other comprehensive income (loss) before reclassifications, net of tax		56.4			(3.0	)		(2.2	)		51.2
Reclassifications to net income, net of tax		–			19.3			.9			20.2

Net current-period other comprehensive income (loss), net of tax		56.4			16.3			(1.3	)		71.4

Balance as of December 30, 2017	$	(156.2	)	$	(524.0	)	$	(.3	)	$	(680.5	)

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

(In millions)	2017			2016			2015			Affected Line Item in the Statements Where Net Income is Presented

Cash flow hedges:
Foreign exchange contracts	$	.2		$	(3.0	)	$	3.9		Cost of products sold
Commodity contracts		.2			(.7	)		(1.3	)	Cost of products sold
Interest rate contracts		(1.8	)		(.1	)		(.1	)	Interest expense

		(1.4	)		(3.8	)		2.5		Total before tax
		.5			1.0			(.5	)	Provision for income taxes

		(.9	)		(2.8	)		2.0		Net of tax

Pension and other postretirement benefits (1)		(28.2	)		(66.8	)		(33.3	)
		8.9			22.6			10.4		Provision for income taxes

		(19.3	)		(44.2	)		(22.9	)	Net of tax

Total reclassifications for the period	$	(20.2	)	$	(47.0	)	$	(20.9	)	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 income

(In millions)	2017			2016			2015

Foreign currency translation:
Translation gain (loss)	$	(25.1	)	$	(3.3	)	$	(2.2	)
Pension and other postretirement benefits:
Net loss recognized from actuarial gain/loss and prior service cost/credit		.5			(24.2	)		(11.4	)
Reclassifications to net income		8.9			22.6			10.4
Cash flow hedges:
(Losses) gains recognized on cash flow hedges		(.6	)		.1			(.3	)
Reclassifications to net income		.5			1.0			(.5	)

Income tax benefit related to items of other comprehensive loss	$	(15.8	)	$	(3.8	)	$	(4.0	)

LONG-TERM INCENTIVE COMPENSATION (Tables)

12 Months Ended

Dec. 30, 2017

Long-Term Incentive Compensation

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

(In millions)	2017		2016		2015

Stock-based compensation expense	$	30.2	$	27.2	$	26.3
Tax benefit		4.3		8.5		8.2

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

	2016

Risk-free interest rate		1.75	%
Expected stock price volatility		24.58	%
Expected dividend yield		2.58	%
Expected option term		6.5 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 31, 2016	1,115.2		$	41.29	4.72	$	32.8
Exercised	(571.6	)		38.50

Outstanding at December 30, 2017	543.6		$	44.22	4.94	$	38.4
Options vested and expected to vest at December 30, 2017	527.4			43.30	4.83		37.7
Options exercisable at December 30, 2017	402.5		$	33.79	3.72	$	32.6

Performance Units (PUs)

Long-Term Incentive Compensation

Information related to awarded PUs

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

Unvested at December 31, 2016		490.8		$	58.47
Granted at target		164.4			82.15
Adjustment for above-target performance (1)		114.2			48.59
Vested		(231.5	)		48.26
Forfeited/cancelled		(52.8	)		66.08

Unvested at December 30, 2017		485.1		$	68.15

(1)	Reflects adjustments for awards vesting based on above-target performance for the 2014-2016 performance period.

Market-leveraged stock units (MSUs)

Long-Term Incentive Compensation

Information related to awarded MSUs

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

Unvested at December 31, 2016		530.7		$	62.09
Granted at target		123.7			91.40
Adjustments for above-target performance (1)		126.0			55.24
Vested		(342.0	)		56.33
Forfeited/cancelled		(34.8	)		71.15

Unvested at December 30, 2017		403.6		$	70.07

(1)	Reflects adjustments for awards vesting based on above-target performance for each of the performance periods vesting in 2017.

Restricted Stock Units (RSUs)

Long-Term Incentive Compensation

Summary of information related to awarded RSUs

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

Unvested at December 31, 2016		117.7		$	58.87
Granted		74.5			82.77
Vested		(47.6	)		55.72
Forfeited/cancelled		(4.2	)		59.53

Unvested at December 30, 2017		140.4		$	72.62

COST REDUCTION ACTIONS (Tables)

12 Months Ended

Dec. 30, 2017

COST REDUCTION ACTIONS

Restructuring charges and payments

During 2017, restructuring charges and payments were as follows:

(In millions)	Accrual at December 31, 2016		Charges (Reversals), net			Cash Payments			Non-cash Impairment			Foreign Currency Translation			Accrual at December 30, 2017

2015/2016 Actions
Severance and related costs	$	3.3	$	31.9		$	(30.8	)	$	–		$	(.1	)	$	4.3
Lease cancellation costs		.2		1.2			(.8	)		–			–			.6
Asset impairment charges		–		1.0			–			(1.0	)		–			–
Prior actions
Severance and related costs		1.3		(.7	)		(.6	)		–			–			–

Total	$	4.8	$	33.4		$	(32.2	)	$	(1.0	)	$	(.1	)	$	4.9

During 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 December 31, 2016

2015/2016 Actions
Severance and related costs	$	8.4	$	15.7		$	(20.9	)	$	–		$	.1	$	3.3
Asset impairment charges		–		4.1			–			(4.1	)		–		–
Lease cancellation costs		.2		1.1			(1.1	)		–			–		.2
Prior actions
Severance and related costs		5.5		(1.0	)		(3.2	)		–			–		1.3

Total	$	14.1	$	19.9		$	(25.2	)	$	(4.1	)	$	.1	$	4.8

Total amount of restructuring charges incurred by reportable segment and Corporate

(In millions)	2017		2016		2015

Restructuring charges by reportable segment and Corporate
Label and Graphic Materials	$	14.8	$	8.5	$	13.6
Retail Branding and Information Solutions		18.4		10.5		35.7
Industrial and Healthcare Materials		.2		.9		8.0
Corporate		–		–		2.2

Total	$	33.4	$	19.9	$	59.5

TAXES BASED ON INCOME (Tables)

12 Months Ended

Dec. 30, 2017

TAXES BASED ON INCOME

Taxes based on income

(In millions)	2017			2016			2015

Current:
U.S. federal tax	$	47.0		$	10.1		$	26.4
State taxes		.2			.6			(.1	)
International taxes		111.0			77.3			92.7

		158.2			88.0			119.0

Deferred:
U.S. federal tax		134.8			64.4			6.3
State taxes		(3.7	)		(3.0	)		.5
International taxes		18.4			7.0			8.7

		149.5			68.4			15.5

Provision for income taxes	$	307.7		$	156.4		$	134.5

The principal items accounting for the difference between taxes

(In millions)	2017			2016			2015

Computed tax at 35% of income before taxes	$	206.7		$	167.0		$	143.1
Increase (decrease) in taxes resulting from:
State taxes, net of federal tax benefit		(3.2	)		2.2			1.3
Tax Cuts and Jobs Act (1)		172.0			–			–
Foreign earnings taxed at different rates (2)		(40.2	)		27.0			(7.5	)
Excess tax benefits associated with stock-based payments (3)		(16.0	)		–			–
Valuation allowance		(1.4	)		(11.9	)		.9
Corporate-owned life insurance		(6.7	)		(4.3	)		(1.9	)
U.S. federal research and development tax credits		(4.9	)		(2.9	)		(2.6	)
Tax contingencies and audit settlements		(1.9	)		(20.7	)		5.1
Other items, net		3.3			–			(3.9	)

Provision for income taxes	$	307.7		$	156.4		$	134.5


(1)	During 2017, we recognized a net tax charge of $172 million as a result of the TCJA. This amount includes the direct impacts of the TCJA, including items that would otherwise be separately disclosed as tax effects of foreign earnings taxed at different rates, tax contingencies and audit settlements, and other items.
(2)	Included foreign earnings taxed in the U.S., net of credits, in all years.
(3)	During 2017, we recognized a tax benefit of $16 million as a result of our adoption of the accounting guidance update related to stock-based payments.

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

(In millions)	2017		2016		2015

U.S.	$	49.0	$	17.9	$	33.9
International		540.5		459.2		375.0

Income from continuing operations before taxes	$	589.5	$	477.1	$	408.9

Components of the temporary differences

(In millions)	2017			2016

Accrued expenses not currently deductible	$	19.9		$	42.1
Net operating losses		185.9			195.9
Tax credit carryforwards		14.0			111.3
Stock-based compensation		18.0			28.4
Pension and other postretirement benefits		140.9			207.7
Inventory reserves		6.5			7.1
Unrealized foreign currency losses (1)		14.9			–
Other assets		6.3			.9
Valuation allowance		(63.4	)		(60.4	)

Total deferred tax assets (2)		343.0			533.0

Depreciation and amortization		(95.3	)		(86.1	)
Repatriation accrual (3)		(27.7	)		(62.1	)
Foreign operating loss recapture		(54.9	)		(79.8	)
Other liabilities		(8.8	)		(2.3	)

Total deferred tax liabilities (2)		(186.7	)		(230.3	)

Total net deferred tax assets	$	156.3		$	302.7


(1)	Primarily reflect the unrealized foreign currency losses in 2017 related to our net investment hedge described in Note 5, "Financial Instruments."
(2)	Reflect gross amounts before jurisdictional netting of deferred tax assets and liabilities.
(3)	The repatriation accruals as of December 30, 2017 and December 31, 2016 primarily include net deferred tax liabilities of $27.7 million and $62.4 million, respectively, associated with the future tax cost to repatriate earnings of our foreign subsidiaries that are not indefinitely reinvested.

Schedule of tax credit and net operating loss carryforwards

(In millions) Year of Expiry	Net Operating Losses (1)		Tax Credits

2018	$	14.3	$	.1
2019		4.8		.1
2020		5.5		.2
2021		3.5		.4
2022		9.8		.5
2023		5.0		.5
2024		.4		.3
2025		2.3		.3
2026		.9		1.6
2027		.8		.3
2028		–		.1
2029		–		.1
2030		–		.2
2031		–		.3
2032		–		.4
2033		–		–
2034		.7		–
2035		–		–
2036		–		–
2037		–		–
Indefinite life/no expiry		585.7		8.6

Total	$	633.7	$	14.0

(1)	Net operating losses are presented before tax effect and valuation allowance.

Reconciliation of the beginning and ending amounts of unrecognized tax benefits

(In millions)	2017			2016

Balance at beginning of year	$	89.5		$	107.3
Additions for tax positions of the current year		14.1			6.9
Additions (reductions) for tax positions of prior years		3.0			(15.7	)
Settlements with tax authorities		(1.6	)		(2.1	)
Expirations of statutes of limitations		(2.7	)		(4.2	)
Changes due to translation of foreign currencies		6.4			(2.7	)

Balance at end of year	$	108.7		$	89.5

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 30, 2017

SEGMENT INFORMATION

Summary of financial information by reportable segment

(In millions)	2017			2016			2015

Net sales to unaffiliated customers
Label and Graphic Materials	$	4,511.7		$	4,187.3		$	4,032.1
Retail Branding and Information Solutions		1,511.2			1,445.4			1,443.4
Industrial and Healthcare Materials		590.9			453.8			491.4

Net sales to unaffiliated customers	$	6,613.8		$	6,086.5		$	5,966.9

Intersegment sales
Label and Graphic Materials	$	64.1		$	63.4		$	61.3
Retail Branding and Information Solutions		3.2			2.9			2.9
Industrial and Healthcare Materials		7.7			7.2			14.8

Intersegment sales	$	75.0		$	73.5		$	79.0

Income from continuing operations before taxes
Label and Graphic Materials	$	567.3		$	516.2		$	453.4
Retail Branding and Information Solutions		122.9			102.6			51.6
Industrial and Healthcare Materials		50.5			54.6			57.1
Corporate expense		(88.2	)		(136.4	)		(92.7	)
Interest expense		(63.0	)		(59.9	)		(60.5	)

Income from continuing operations before taxes	$	589.5		$	477.1		$	408.9

Capital expenditures
Label and Graphic Materials	$	125.5		$	118.8		$	68.3
Retail Branding and Information Solutions		48.8			50.9			51.0
Industrial and Healthcare Materials		19.5			7.2			19.6

Capital expenditures	$	193.8		$	176.9		$	138.9

Depreciation and amortization expense
Label and Graphic Materials	$	102.3		$	103.1		$	104.9
Retail Branding and Information Solutions		56.4			64.3			70.6
Industrial and Healthcare Materials		20.0			12.7			12.8

Depreciation and amortization expense	$	178.7		$	180.1		$	188.3

Other expense, net by reportable segment
Label and Graphic Materials	$	14.5		$	13.0		$	12.1
Retail Branding and Information Solutions		18.1			9.8			45.7
Industrial and Healthcare Materials		3.7			1.9			8.0
Corporate		.2			40.5			2.5

Other expense, net	$	36.5		$	65.2		$	68.3

Other expense, net by type
Restructuring charges:
Severance and related costs	$	31.2		$	14.7		$	52.5
Asset impairment charges and lease cancellation costs		2.2			5.2			7.0
Other items:
Transaction costs		5.2			5.0			–
Net gains on sales of assets		(2.1	)		(1.1	)		(1.7	)
Net loss from curtailment and settlement of pension obligations		–			41.4			.3
Legal settlements		–			–			(.3	)
Loss on sale of product line and related exit costs		–			–			10.5

Other expense, net	$	36.5		$	65.2		$	68.3

Summary of net sales to unaffiliated customers

(In millions)	2017		2016		2015

Net sales to unaffiliated customers
U.S.	$	1,557.8	$	1,525.6	$	1,546.8
Europe		2,041.6		1,838.8		1,753.0
Asia		2,250.5		1,996.1		1,924.0
Latin America		476.4		450.5		466.3
Other international		287.5		275.5		276.8

Net sales to unaffiliated customers	$	6,613.8	$	6,086.5	$	5,966.9

Summary of property, plant and equipment, net

(In millions)	2017		2016		2015

Property, plant and equipment, net
U.S.	$	286.4	$	278.5	$	263.4
International		811.5		636.7		584.5

Property, plant and equipment, net	$	1,097.9	$	915.2	$	847.9

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 30, 2017

SUPPLEMENTAL FINANCIAL INFORMATION

Net inventories

(In millions)	2017		2016

Raw materials	$	214.6	$	185.0
Work-in-progress		179.8		156.8
Finished goods		215.2		177.3

Inventories, net	$	609.6	$	519.1

Property, Plant and Equipment

(In millions)	2017			2016

Land	$	31.1		$	29.3
Buildings and improvements		638.9			565.3
Machinery and equipment		2,188.2			1,949.5
Construction-in-progress		142.7			117.3

Property, plant and equipment		3,000.9			2,661.4
Accumulated depreciation		(1,903.0	)		(1,746.2	)

Property, plant and equipment, net	$	1,097.9		$	915.2

Capitalized software costs

(In millions)	2017			2016

Cost	$	428.9		$	415.5
Accumulated amortization		(301.8	)		(297.9	)

Software, net	$	127.1		$	117.6

Schedule of research and development expense

(In millions)	2017		2016		2015

Research and development expense	$	93.4	$	89.7	$	91.9

Cash paid for interest and income taxes

(In millions)	2017		2016		2015

Interest, net of capitalized amounts	$	57.7	$	58.9	$	60.1
Income taxes, net of refunds		125.6		106.1		129.9

QUARTERLY FINANCIAL INFORMATION (Unaudited) (Tables)

12 Months Ended

Dec. 30, 2017

QUARTERLY FINANCIAL INFORMATION (Unaudited)

Quarterly financial information

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

2017
Net sales	$	1,572.1	$	1,626.9	$	1,679.5	$	1,735.3
Gross profit		442.4		452.6		451.6		465.6
Net income (loss) (1)		112.2		120.9		108.3		(59.6	)
Net income (loss) per common share		1.27		1.37		1.23		(.68	)
Net income (loss) per common share, assuming dilution		1.25		1.34		1.20		(.66	)

2016
Net sales	$	1,485.5	$	1,541.5	$	1,508.7	$	1,550.8
Gross profit		422.6		434.1		417.6		425.4
Net income		89.6		80.0		89.1		62.0
Net income per common share		1.00		.90		1.00		.70
Net income per common share, assuming dilution		.98		.88		.98		.69


(1)	During the fourth quarter of 2017, we recognized a net tax charge of $172 million as a result of the TCJA.

Summary of other expense, net by type for each quarter

(In millions)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

2017
Restructuring charges:
Severance and related costs	$	5.7	$	7.3	$	8.7	$	9.5
Asset impairment charges and lease cancellation costs		–		.3		1.8		.1
Other items:
Net gains on sales of assets		–		–		–		(2.1	)
Transaction costs		.8		2.6		.3		1.5

Other expense, net	$	6.5	$	10.2	$	10.8	$	9.0

2016
Restructuring charges:
Severance and related costs	$	5.2	$	3.6	$	1.9	$	4.0
Asset impairment charges and lease cancellation costs		.4		2.8		.7		1.3
Other items:
Loss from settlement of pension obligations		–		41.4		–		–
Loss (gain) on sales of assets		–		.3		–		(1.4	)
Transaction costs		–		2.1		2.0		.9

Other expense, net	$	5.6	$	50.2	$	4.6	$	4.8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Summary Of Significant Accounting Policies
Length of Fiscal Period	364 days	364 days	364 days
Maximum length of time hedged in cash flow hedge	36 months
Stock-based compensation expense capitalized	$ 0.0	$ 0.0	$ 0.0
Recent Accounting Requirements
Recognized loss on settlement		$ (41.4)
Customer concentration risk \| Net sales \| Ten largest customers
Summary Of Significant Accounting Policies
Concentration risk percentage	15.00%	14.00%	15.00%
Customer concentration risk \| Accounts Receivable \| Ten largest customers
Summary Of Significant Accounting Policies
Concentration risk percentage	14.00%	14.00%
Minimum
Summary Of Significant Accounting Policies
Software estimated useful lives	5 years
Minimum \| Buildings and improvements
Summary Of Significant Accounting Policies
Property and equipment estimated useful lives	10 years
Minimum \| Machinery and equipment
Summary Of Significant Accounting Policies
Property and equipment estimated useful lives	3 years
Maximum
Summary Of Significant Accounting Policies
Software estimated useful lives	10 years
Maximum \| Customer concentration risk \| Net sales
Summary Of Significant Accounting Policies
Concentration risk percentage	10.00%	10.00%
Maximum \| Customer concentration risk \| Accounts Receivable
Summary Of Significant Accounting Policies
Concentration risk percentage	10.00%	10.00%
Maximum \| Buildings and improvements
Summary Of Significant Accounting Policies
Property and equipment estimated useful lives	45 years
Maximum \| Machinery and equipment
Summary Of Significant Accounting Policies
Property and equipment estimated useful lives	15 years
Accounting Standards Update 2017-07
Recent Accounting Requirements
Non-service cost components of net periodic pension cost	$ 18.0	$ 53.0
Recognized loss on settlement		41.0
Accounting Standards Update 2014-09
Recent Accounting Requirements
Allowance for customer returns	$ 11.1	$ 10.0

ACQUISITIONS (Details) - USD ($) $ in Millions		12 Months Ended
ACQUISITIONS (Details) - USD ($) $ in Millions	Aug. 01, 2016	Dec. 30, 2017
2017 Acquisitions
Acquisitions
Purchase price		$ 360
Additional earn-out payments related to acquired businesses' achievement of certain performance targets for 2017 and 2018 years		45
Accrued additional earn-out payments		45
Yongle Tape Acquisition
Acquisitions
Purchase consideration paid on achievement of certain pre-acquisition performance targets		$ 15
Mactac Acquisition
Acquisitions
Purchase price	$ 220

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Goodwill
Impairment of goodwill	$ 0.0
Changes in the net carrying amount of goodwill
Goodwill, Beginning Balance	793.6	$ 686.2
Acquisitions	143.0	122.1
Acquisition adjustments	5.5
Translation adjustments	43.0	(14.7)
Goodwill, Ending Balance	985.1	793.6
Indefinite-Lived Intangible Assets
Indefinite-lived intangible assets, carrying value	21.2	20.3
Impairment of indefinite-lived intangible assets	0.0
Mactac Acquisition
Finite Lived Intangible Assets Acquired
Intangible assets acquired		$ 29.0
Mactac Acquisition \| Significant Other Unobservable Inputs (Level 3) \| Minimum
Finite Lived Intangible Assets Acquired
Discount rate used to value the intangibles		10.50%
Mactac Acquisition \| Significant Other Unobservable Inputs (Level 3) \| Maximum
Finite Lived Intangible Assets Acquired
Discount rate used to value the intangibles		12.50%
2017 Acquisitions
Finite Lived Intangible Assets Acquired
Intangible assets acquired	$ 110.0
2017 Acquisitions \| Significant Other Unobservable Inputs (Level 3) \| Minimum
Finite Lived Intangible Assets Acquired
Discount rate used to value the intangibles	11.00%
2017 Acquisitions \| Significant Other Unobservable Inputs (Level 3) \| Maximum
Finite Lived Intangible Assets Acquired
Discount rate used to value the intangibles	16.50%
Customer relationships \| Mactac Acquisition
Finite Lived Intangible Assets Acquired
Intangible assets acquired		$ 26.1
Weighted-average amortization period (in years)		15 years
Customer relationships \| 2017 Acquisitions
Finite Lived Intangible Assets Acquired
Intangible assets acquired	$ 71.5
Weighted-average amortization period (in years)	16 years
Patents and other acquired technology \| Mactac Acquisition
Finite Lived Intangible Assets Acquired
Intangible assets acquired		$ 2.5
Weighted-average amortization period (in years)		4 years
Patents and other acquired technology \| 2017 Acquisitions
Finite Lived Intangible Assets Acquired
Intangible assets acquired	$ 34.0
Weighted-average amortization period (in years)	8 years
Trade names and trademarks \| 2017 Acquisitions
Finite Lived Intangible Assets Acquired
Intangible assets acquired	$ 4.2
Weighted-average amortization period (in years)	6 years
Trade names \| Mactac Acquisition
Indefinite-Lived Intangible Assets
Indefinite-lived intangible assets, carrying value		$ 13.0
Label and Graphic Materials
Changes in the net carrying amount of goodwill
Goodwill, Beginning Balance	$ 373.3	277.9
Acquisitions	17.5	107.8
Acquisition adjustments	4.8
Translation adjustments	33.9	(12.4)
Goodwill, Ending Balance	429.5	373.3
Retail Branding and Information Solutions
Changes in the net carrying amount of goodwill
Goodwill, Beginning Balance	353.9	408.3
Transfer		(53.1)
Translation adjustments	1.5	(1.3)
Goodwill, Ending Balance	355.4	353.9
Accumulated impairment losses	820.0	820.0
Industrial and Healthcare Materials
Changes in the net carrying amount of goodwill
Goodwill, Beginning Balance	66.4
Acquisitions	125.5	14.3
Acquisition adjustments	0.7
Transfer		53.1
Translation adjustments	7.6	(1.0)
Goodwill, Ending Balance	$ 200.2	$ 66.4

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS - Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Finite-Lived Intangible Assets
Gross Carrying Amount	$ 455.8	$ 332.2
Accumulated Amortization	310.7	285.8
Net Carrying Amount	145.1	46.4
Amortization expense on finite-lived intangible assets from business acquisition	18.6	19.9	$ 20.5
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	329.2	247.1
Accumulated Amortization	226.4	209.4
Net Carrying Amount	102.8	37.7
Patents and other acquired technology
Finite-Lived Intangible Assets
Gross Carrying Amount	86.9	52.0
Accumulated Amortization	51.3	46.7
Net Carrying Amount	35.6	5.3
Trade names and trademarks
Finite-Lived Intangible Assets
Gross Carrying Amount	27.7	21.4
Accumulated Amortization	21.0	18.2
Net Carrying Amount	6.7	3.2
Other intangibles
Finite-Lived Intangible Assets
Gross Carrying Amount	12.0	11.7
Accumulated Amortization	$ 12.0	11.5
Net Carrying Amount		$ 0.2

GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS - Future Amortization Expense (Details) $ in Millions	Dec. 30, 2017 USD ($)
Future amortization expense for finite-lived intangible assets
2018	$ 14.7
2019	13.9
2020	12.0
2021	11.8
2022	$ 10.8

DEBT AND CAPITAL LEASES (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
DEBT AND CAPITAL LEASES (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 30, 2017	Dec. 31, 2016
Short-Term Borrowings from U.S. commercial paper
Short-term debt
U.S. Commercial paper		$ 183.8	$ 44.5
Weighted average interest rate		1.79%	0.90%
Short-Term Borrowings from Euro-Commercial Paper
Short-term debt
Maximum borrowing capacity	$ 500.0
Maturities of the notes	364 days
Covenants compliance		There are no financial covenants under this program
Euro-Commercial paper		$ 0.0

DEBT AND CAPITAL LEASES - Revolving Credit Facility (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016	Nov. 30, 2017	Oct. 31, 2017
Uncommitted lines of credit
Revolving credit facility
Uncommitted lines of credit	$ 330.0
Short term borrowings outstanding	$ 76.1	$ 72.9
Weighted average interest rate	6.20%	6.50%
Revolving credit facility
Revolving credit facility
Maximum borrowing capacity				$ 800.0
Extension in maturity date	1 year
Commitment for increased borrowing	$ 300.0
Amount outstanding	0.0	$ 0.0
Commitment fees	$ 1.1	$ 1.1	$ 1.9
Previous revolving credit facility
Revolving credit facility
Maximum borrowing capacity					$ 700.0

DEBT AND CAPITAL LEASES - Long-Term Debt and Respective Weighted-Average Interest Rate (Details) € in Millions, $ in Millions	1 Months Ended
	Oct. 31, 2017 USD ($)	Mar. 31, 2017 EUR (€)	Mar. 31, 2017 USD ($)	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Long-term debt and capital leases
Capital leases				$ 25.0	$ 25.2
Other borrowings				16.6
Less amount classified as current				(5.5)	(252.7)
Total long-term debt and capital leases				1,316.3	713.4
Unamortized debt issuance cost				7.1	3.6
Unamortized debt discount				0.7	0.4
Series 1995 due 2020 through 2025
Long-term debt and capital leases
Senior notes				$ 44.9	44.9
Weighted-average interest rate				7.50%
Senior notes due 2017 at 6.6%
Long-term debt and capital leases
Senior notes					$ 249.7
Interest rate of senior notes (as a percent)				6.60%	6.60%
Senior notes due 2020 at 5.4%
Long-term debt and capital leases
Senior notes				$ 249.5	$ 249.3
Interest rate of senior notes (as a percent)				5.40%	5.40%
Senior notes due 2023 at 3.4%
Long-term debt and capital leases
Senior notes				$ 248.7	$ 248.4
Interest rate of senior notes (as a percent)				3.40%	3.40%
Senior notes due 2025 at 1.3%
Long-term debt and capital leases
Senior notes				$ 588.4
Interest rate of senior notes (as a percent)				1.25%	1.25%
Senior notes due 2033 at 6.0%
Long-term debt and capital leases
Senior notes				$ 148.7	$ 148.6
Interest rate of senior notes (as a percent)				6.00%	6.00%
Senior notes due March 2025 at 1.25%
Long-term debt and capital leases
Senior notes issued \| €		€ 500.0
Interest rate of senior notes (as a percent)		1.25%
Proceeds, net of underwriting discounts and offering expenses		€ 495.5	$ 526.6
Senior notes due October 2017 at 6.6%
Long-term debt and capital leases
Repayment of senior notes	$ 250.0

DEBT AND CAPITAL LEASES - Long-Term Debt and Capital Leases (Details) $ in Millions	Dec. 30, 2017 USD ($)
Maturities of Long-term debt and capital leases
2018 (classified as current)	$ 6.4
2019	19.9
2020	269.3
2021	3.9
2022	3.4
2023 and thereafter	1,030.6
Total amount of imputed interest on capital lease obligations	3.9
Current amount of imputed interest on capital lease obligations	$ 1.0

DEBT AND CAPITAL LEASES - Debt issued and Capital Lease Obligations (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2015	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Debt and Capital Leases
Interest costs		$ 67.9	$ 63.5	$ 63.5
Interest costs capitalized		4.9	3.6	$ 3.0
Fair value of debt		1,600.0	1,310.0
Capital Lease Obligations
Capital Lease Obligations		25.0	$ 25.2
Mentor lease facility
Capital Lease Obligations
Term of lease financing for commercial facility	10 years
Capital Lease Obligations		20.0
Capital Lease Obligations, Noncurrent		18.0
Capital Lease Obligations, Current		$ 2.0

FINANCIAL INSTRUMENTS (Details) - Cash Flow Hedging $ in Millions	Dec. 30, 2017 USD ($)
Commodity contracts
Financial Instruments
Notional amount	$ 3.8
Foreign exchange contracts
Financial Instruments
Notional amount	$ 1,370.0

FINANCIAL INSTRUMENTS - Cash Flow Hedges and Other Derivatives, Fair Value (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016
Cash Flow Hedging
Cash Flow Hedges, Fair Value
Asset	$ 0.4	$ 3.6
Liability	0.6	1.0
Cash Flow Hedging \| Foreign exchange contracts \| Other current assets
Cash Flow Hedges, Fair Value
Asset	0.4	3.0
Cash Flow Hedging \| Foreign exchange contracts \| Other accrued liabilities
Cash Flow Hedges, Fair Value
Liability	0.6	1.0
Cash Flow Hedging \| Commodity contracts \| Other current assets
Cash Flow Hedges, Fair Value
Asset		0.5
Cash Flow Hedging \| Commodity contracts \| Other assets
Cash Flow Hedges, Fair Value
Asset		0.1
Not designated as hedging instruments \| Foreign exchange contracts \| Other current assets
Cash Flow Hedges, Fair Value
Asset	3.5	1.6
Not designated as hedging instruments \| Foreign exchange contracts \| Other accrued liabilities
Cash Flow Hedges, Fair Value
Liability	$ 5.6	$ 6.8

FINANCIAL INSTRUMENTS - Gains (Losses) Recognized in AOCI (Details) - Cash Flow Hedging - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Gain (loss) recognized in current earnings
Gains (losses) recognized in accumulated other comprehensive loss	$ (2.8)	$ 0.8	$ (0.8)
Cash flow net loss to be reclassified within the next 12 months	0.3
Foreign exchange contracts
Gain (loss) recognized in current earnings
Gains (losses) recognized in accumulated other comprehensive loss	(2.2)	0.2	(0.1)
Commodity contracts
Gain (loss) recognized in current earnings
Gains (losses) recognized in accumulated other comprehensive loss	$ (0.6)	$ 0.6	$ (0.7)

FINANCIAL INSTRUMENTS - Net Gains (Losses) Recognized in Current Earnings (Details) - Not designated as hedging instruments - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Gain (loss) recognized in current earnings
Net Gains (Losses) in Income	$ (44.1)	$ 6.9	$ 5.8
Foreign exchange contracts \| Cost of products sold
Gain (loss) recognized in current earnings
Net Gains (Losses) in Income	(1.2)	2.8	2.9
Foreign exchange contracts \| Marketing, general and administrative expense
Gain (loss) recognized in current earnings
Net Gains (Losses) in Income	$ (42.9)	$ 4.1	$ 2.9

FINANCIAL INSTRUMENTS - Net Investment Hedge (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 30, 2017 USD ($)	Mar. 31, 2017 EUR (€)
Gain (loss) recognized in current earnings
Amount of ineffectiveness from net investment hedge in earnings \| $	$ 0.0
Senior notes due March 2025 at 1.25%
Gain (loss) recognized in current earnings
Senior notes issued \| €		€ 500
Interest rate of senior notes (as a percent)		1.25%
Net Investment Hedge \| Designated
Gain (loss) recognized in current earnings
Foreign currency denominated debt \| $	$ (63.7)
Net Investment Hedge \| Designated \| Senior notes due March 2025 at 1.25%
Gain (loss) recognized in current earnings
Senior notes issued \| €		€ 500
Interest rate of senior notes (as a percent)		1.25%

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jul. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Components of net periodic benefit cost (credit)
Recognized loss on settlements			$ 41.4
U.S.
Defined Benefit Plans
Settlements	$ 70.0		69.2
Projected benefit obligations		$ 1,082.1	1,033.7	$ 1,088.9
Net actuarial loss (gain)		21.8	39.1	21.1
Components of net periodic benefit cost (credit)
Recognized loss on settlements	41.4
Actuarial loss (gain)	$ 72.0	$ 73.1	39.1
U.S. \| Growth portfolio
Defined Benefit Plans
Target assets allocation (as a percent)		65.00%
U.S. \| Liability hedging portfolio
Defined Benefit Plans
Target assets allocation (as a percent)		35.00%
Int'l
Defined Benefit Plans
Projected benefit obligations		$ 836.7	762.9	674.7
Net actuarial loss (gain)		(17.2)	48.9	$ 11.3
Components of net periodic benefit cost (credit)
Actuarial loss (gain)		$ (26.4)	$ 123.8
Int'l \| Equity Securities
Defined Benefit Plans
Target assets allocation (as a percent)		39.00%
Int'l \| Fixed income securities and cash
Defined Benefit Plans
Target assets allocation (as a percent)		43.00%
Int'l \| Other investments
Defined Benefit Plans
Target assets allocation (as a percent)		18.00%

PENSION AND OTHER POSTRETIREMENT BENEFITS - Defined Benefit Plans (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
U.S.
Defined Benefit Plans
Total plan assets	$ 740.2	$ 672.1	$ 704.9
U.S. \| Total
Defined Benefit Plans
Total plan assets	740.2	672.1
U.S. \| Liability hedging portfolio \| Total
Defined Benefit Plans
Total plan assets at fair value	275.6	269.0
U.S. \| Growth portfolio \| Total
Defined Benefit Plans
Total plan assets at fair value	464.6	403.1
Int'l
Defined Benefit Plans
Total plan assets	683.7	584.2	$ 552.1
Int'l \| Total
Defined Benefit Plans
Total plan assets	683.7	584.2
Int'l \| Cash \| Total
Defined Benefit Plans
Total plan assets at fair value	1.7	3.0
Int'l \| Pooled funds - Fixed income securities \| Total
Defined Benefit Plans
Total plan assets at fair value	278.5	284.2
Int'l \| Insurance contracts \| Total
Defined Benefit Plans
Total plan assets at fair value	35.7	30.5
Int'l \| Equity Securities \| Total
Defined Benefit Plans
Total plan assets at fair value	277.3	223.4
Int'l \| Pooled funds - Other \| Total
Defined Benefit Plans
Total plan assets at fair value	90.5	43.1
Int'l \| Quoted Prices in Active Markets (Level 1) \| Cash
Defined Benefit Plans
Total plan assets at fair value	1.7	3.0
Int'l \| Significant Other Unobservable Inputs (Level 3) \| Insurance contracts
Defined Benefit Plans
Total plan assets at fair value	$ 35.7	$ 30.5

PENSION AND OTHER POSTRETIREMENT BENEFITS - Reconciliation For Assets Measure At Fair Value Using Level 3 (Details) - Int'l - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Reconciliation of Level 3 assets
Impact of changes in foreign currency exchange rates	$ 71.1	$ (51.1)
Significant Other Unobservable Inputs (Level 3) \| Insurance contracts
Reconciliation of Level 3 assets
Balance at the beginning of the year	30.5
Net realized and unrealized gain	0.7
Purchases	2.8
Settlements	(1.4)
Impact of changes in foreign currency exchange rates	3.1
Balance at the end of the year	$ 35.7	$ 30.5

PENSION AND OTHER POSTRETIREMENT BENEFITS - One-Percentage-Point Change Assumed (Details)	12 Months Ended
	Dec. 30, 2017 USD ($)
Defined Benefit Plans
Healthcare cost trend rate assumed for 2018 (as a percent)	7.00%
Healthcare cost trend rate by 2024 (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	$ 0.01
Effect of one-percentage-point decrease on total of service and interest cost components	(0.01)
Effect of one-percentage-point increase on postretirement benefit obligations	0.3
Effect of one-percentage-point decrease on postretirement benefit obligations	$ (0.2)
U.S. Postretirement Health Benefits
Defined Benefit Plans
Minimum age for which supplemental Medicare benefits are provided	65 years
U.S.
Defined Benefit Plans
Maximum age for which postretirement benefits are provided	65 years

PENSION AND OTHER POSTRETIREMENT BENEFITS - Change in Projected Benefit Obligations (Details) $ in Millions	3 Months Ended	12 Months Ended
	Jul. 02, 2016 USD ($)	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($) item
U.S.
Change in projected benefit obligations
Projected benefit obligations at beginning of year		$ 1,033.7	$ 1,088.9
Service cost		0.5	0.4
Interest cost		35.3	34.4
Actuarial loss (gain)	$ 72.0	73.1	39.1
Benefits paid		(60.5)	(59.9)
Settlements	$ (70.0)		(69.2)
Projected benefit obligations at end of year		1,082.1	1,033.7
Accumulated benefit obligations at end of year		1,082.1	1,033.7
Int'l
Change in projected benefit obligations
Projected benefit obligations at beginning of year		762.9	674.7
Service cost		18.2	13.9
Interest cost		14.3	16.4
Participant contribution		3.4	2.9
Amendments		(2.1)	(0.6)
Actuarial loss (gain)		(26.4)	123.8
Plan transfers		(1.3)
Acquisition			14.6
Benefits paid		(22.5)	(21.8)
Curtailments			(0.3)
Foreign currency translation		90.2	(60.7)
Projected benefit obligations at end of year		836.7	762.9
Accumulated benefit obligations at end of year		355.6	$ 704.8
Belgium \| Mactac Acquisition
Change in projected benefit obligations
Number of plans \| item			2
U.S. Postretirement Health Benefits
Change in projected benefit obligations
Projected benefit obligations at beginning of year		5.0	$ 5.9
Interest cost		0.1	0.2
Participant contribution		0.5	0.5
Actuarial loss (gain)		(0.1)	(0.2)
Benefits paid		(1.4)	(1.4)
Projected benefit obligations at end of year		$ 4.1	$ 5.0

PENSION AND OTHER POSTRETIREMENT BENEFITS - Change in Plan Assets (Details) $ in Millions	12 Months Ended
	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($) item
U.S.
Change in plan assets
Plan assets at beginning of year	$ 672.1	$ 704.9
Actual return on plan assets	90.1	42.9
Employer contributions	38.5	53.4
Benefits paid	(60.5)	(59.9)
Settlements		(69.2)
Plan assets at end of year	740.2	672.1
Int'l
Change in plan assets
Plan assets at beginning of year	584.2	552.1
Actual return on plan assets	34.2	79.4
Plan transfers	(0.7)
Acquisition		8.9
Employer contributions	14.0	13.8
Participant contributions	3.4	2.9
Benefits paid	(22.5)	(21.8)
Foreign currency translation	71.1	(51.1)
Plan assets at end of year	683.7	$ 584.2
Belgium \| Mactac Acquisition
Change in plan assets
Number of plans \| item		2
U.S. Postretirement Health Benefits
Change in plan assets
Employer contributions	0.9	$ 0.9
Participant contributions	0.5	0.5
Benefits paid	$ (1.4)	$ (1.4)

PENSION AND OTHER POSTRETIREMENT BENEFITS - Funded Status of the Plan (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016
U.S. and international plans
Pension plans with projected benefit obligations in excess of plan assets
Projected benefit obligation in excess of plan assets	$ 1,920.0	$ 1,800.0
Fair value of plan assets in excess of plan assets	1,420.0	1,260.0
Pension plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligations	1,440.0	1,740.0
Fair value of plan assets	994.0	1,260.0
U.S.
Funded status of the plans
Other accrued liabilities	(33.4)	(13.5)
Long-term retirement benefits and other liabilities	(308.5)	(348.1)
Plan assets less than benefit obligations	$ (341.9)	$ (361.6)
Weighted-average assumptions used to determine year-end benefit obligations
Discount rate (as a percent)	3.71%	4.25%
Int'l
Funded status of the plans
Other accrued liabilities	$ (2.4)	$ (2.0)
Long-term retirement benefits and other liabilities	(150.6)	(176.7)
Plan assets less than benefit obligations	$ (153.0)	$ (178.7)
Weighted-average assumptions used to determine year-end benefit obligations
Discount rate (as a percent)	2.25%	2.12%
Compensation rate increase	2.29%	2.27%
U.S. Postretirement Health Benefits
Funded status of the plans
Other accrued liabilities	$ (0.5)	$ (0.8)
Long-term retirement benefits and other liabilities	(3.6)	(4.2)
Plan assets less than benefit obligations	$ (4.1)	$ (5.0)
Weighted-average assumptions used to determine year-end benefit obligations
Discount rate (as a percent)	3.55%	3.95%

PENSION AND OTHER POSTRETIREMENT BENEFITS - Pre-tax Amount Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016
U.S.
Pretax amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$ 567.2	$ 564.2
Prior service cost (credit)	16.7	17.5
Net amount recognized in accumulated other comprehensive loss	583.9	581.7
Int'l
Pretax amounts recognized in accumulated other comprehensive loss
Net actuarial loss	186.5	213.6
Prior service cost (credit)	(7.4)	(4.9)
Net transition obligation	0.1	0.2
Net amount recognized in accumulated other comprehensive loss	179.2	208.9
U.S. Postretirement Health Benefits
Pretax amounts recognized in accumulated other comprehensive loss
Net actuarial loss	17.0	18.5
Prior service cost (credit)	(13.1)	(16.4)
Net amount recognized in accumulated other comprehensive loss	$ 3.9	$ 2.1

PENSION AND OTHER POSTRETIREMENT BENEFITS - Pre-tax Amount Recognized in Other Comprehensive Loss (Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
U.S.
Defined Benefit Plans
Net actuarial loss (gain)	$ 21.8	$ 39.1	$ 21.1
Amortization of unrecognized net actuarial loss	(18.7)	(19.0)	(20.0)
Amortization of unrecognized prior service (cost) credit	(0.9)	(1.2)	(1.2)
Settlements		(41.4)
Net amount recognized in other comprehensive (income) loss	2.2	(22.5)	(0.1)
Int'l
Defined Benefit Plans
Net actuarial loss (gain)	(17.2)	48.9	11.3
Prior service (credit) cost	(2.1)	(0.6)	(0.7)
Amortization of unrecognized net actuarial loss	(10.8)	(7.0)	(9.4)
Amortization of unrecognized prior service (cost) credit	0.4	0.4	0.3
Amortization of transition obligation		(0.1)
Curtailments			0.2
Settlements			(4.3)
Net amount recognized in other comprehensive (income) loss	(29.7)	41.6	(2.6)
U.S. Postretirement Health Benefits
Defined Benefit Plans
Net actuarial loss (gain)		(0.2)	(1.4)
Amortization of unrecognized net actuarial loss	(1.5)	(1.7)	(2.2)
Amortization of unrecognized prior service (cost) credit	3.3	3.2	3.3
Net amount recognized in other comprehensive (income) loss	$ 1.8	$ 1.3	$ (0.3)

PENSION AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jul. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Components of net periodic benefit cost (credit)
Recognized loss on settlements			$ 41.4
U.S.
Components of net periodic benefit cost (credit)
Service cost		$ 0.5	0.4
Interest cost		35.3	34.4
Actuarial loss (gain)	$ 72.0	73.1	39.1
Recognized loss on settlements	$ 41.4
U.S. \| Continuing operations
Components of net periodic benefit cost (credit)
Service cost		0.5	0.4	$ 0.4
Interest cost		35.3	34.4	45.8
Actuarial loss (gain)		1.7	(0.2)	0.4
Expected return on plan assets		(40.5)	(42.7)	(51.5)
Amortization of actuarial loss		18.7	19.0	20.0
Amortization of prior service cost (credit)		0.9	1.2	1.2
Recognized loss on settlements			41.4
Net periodic benefit cost (credit)		16.6	53.5	16.3
Int'l
Components of net periodic benefit cost (credit)
Service cost		18.2	13.9
Interest cost		14.3	16.4
Actuarial loss (gain)		(26.4)	123.8
Amortization of transition obligation			(0.1)
Int'l \| Continuing operations
Components of net periodic benefit cost (credit)
Service cost		18.2	13.9	13.8
Interest cost		14.3	16.4	17.3
Expected return on plan assets		(21.1)	(21.4)	(21.5)
Amortization of actuarial loss		10.8	7.0	9.4
Amortization of prior service cost (credit)		(0.4)	(0.4)	(0.3)
Amortization of transition obligation			0.1
Recognized net (gain) loss on curtailments			(0.2)	(0.2)
Recognized loss on settlements				4.3
Net periodic benefit cost (credit)		21.8	15.4	22.8
U.S. Postretirement Health Benefits
Components of net periodic benefit cost (credit)
Interest cost		0.1	0.2
Actuarial loss (gain)		(0.1)	(0.2)
U.S. Postretirement Health Benefits \| Continuing operations
Components of net periodic benefit cost (credit)
Interest cost		0.1	0.1	0.3
Amortization of actuarial loss		1.5	1.7	2.2
Amortization of prior service cost (credit)		(3.3)	(3.2)	(3.3)
Net periodic benefit cost (credit)		$ (1.7)	$ (1.4)	$ (0.8)

PENSION AND OTHER POSTRETIREMENT BENEFITS - Weighted-Average Assumptions for Determining Net Periodic Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
U.S.
Weighted-average assumptions used for determining net periodic cost
Discount rate	4.18%	4.55%	4.00%
Expected return on assets	7.00%	7.25%	7.50%
Company's contribution to the defined benefit plan in the next fiscal year	$ 34.0
Int'l
Weighted-average assumptions used for determining net periodic cost
Discount rate	2.12%	2.95%	2.54%
Expected return on assets	3.77%	4.14%	4.27%
Compensation rate increase	2.27%	2.24%	2.22%
Company's contribution to the defined benefit plan in the next fiscal year	$ 14.9
U.S. Postretirement Health Benefits
Weighted-average assumptions used for determining net periodic cost
Discount rate	3.95%	4.13%	3.50%
Company's contribution to the defined benefit plan in the next fiscal year	$ 0.5

PENSION AND OTHER POSTRETIREMENT BENEFITS - Future Benefit Payments (Details) $ in Millions	Dec. 30, 2017 USD ($)
U.S.
Future Benefit Payments
2018	$ 83.0
2019	58.9
2020	59.0
2021	60.6
2022	60.5
2023 - 2027	305.9
Int'l
Future Benefit Payments
2018	20.4
2019	21.8
2020	21.3
2021	23.0
2022	25.9
2023 - 2027	145.5
U.S. Postretirement Health Benefits
Future Benefit Payments
2018	0.5
2019	0.4
2020	0.3
2021	0.3
2022	0.3
2023 - 2027	$ 1.3

PENSION AND OTHER POSTRETIREMENT BENEFITS - Estimated Amortization Amounts in AOCI (Details) $ in Millions	Dec. 30, 2017 USD ($)
U.S.
Estimated amortization amounts in AOCI
Net actuarial loss	$ 20.8
Prior service cost (credit)	0.8
Net loss (gain) to be recognized	21.6
Int'l
Estimated amortization amounts in AOCI
Net actuarial loss	8.1
Prior service cost (credit)	(0.5)
Net transition obligation	0.1
Net loss (gain) to be recognized	7.7
U.S. Postretirement Health Benefits
Estimated amortization amounts in AOCI
Net actuarial loss	1.4
Prior service cost (credit)	(3.3)
Net loss (gain) to be recognized	$ (1.9)

PENSION AND OTHER POSTRETIREMENT BENEFITS - Defined Contribution and Other Retirement Plans (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Defined contribution and other retirement plans
Recognized defined contribution plan cost	$ 20.2	$ 20.0	$ 20.2
Deferred compensation plan accrued	$ 86.9	$ 78.7
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	0.2	0.1
Value of DSUs outstanding under directors deferred equity compensation plan for non-employee directors	$ 17.8	$ 10.2
Other assets
Defined contribution and other retirement plans
Cash surrender value included in other assets	$ 243.5	$ 230.6

COMMITMENTS (Details) - USD ($) $ in Millions	12 Months Ended
COMMITMENTS (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Minimum annual rental commitments on operating leases
2018	$ 48.2
2019	35.8
2020	26.3
2021	18.2
2022	13.6
2023 and thereafter	47.6
Total minimum lease payments	189.7
Rent expense for operating leases from continuing operations	$ 64.0	$ 58.0	$ 58.0

CONTINGENCIES (Details) $ in Millions	12 Months Ended
CONTINGENCIES (Details) $ in Millions	Dec. 30, 2017 USD ($) item	Dec. 31, 2016 USD ($)
Environmental Liabilities Associated with Remediation
Environmental site contingency number of sites \| item	13
Balance at beginning of year	$ 21.3	$ 17.7
Acquisitions	3.0
Charges (reversals), net	2.8	11.6
Payments	(6.0)	(8.0)
Balance at end of year	21.1	21.3
Short term environmental liabilities	$ 5.0	$ 8.0

FAIR VALUE MEASUREMENTS (Details) - Recurring - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016
Assets
Trading securities	$ 22.7	$ 18.1
Derivative assets	3.9	5.2
Bank drafts	18.4	14.3
Liabilities
Derivative liabilities	6.2	7.8
Contingent consideration liabilities	45.0
Cash and Cash Equivalents
Assets
Trading securities	0.4	0.5
Other current assets
Assets
Trading securities	22.3	17.6
Quoted Prices in Active Markets (Level 1)
Assets
Trading securities	17.7	11.7
Derivative assets		0.6
Bank drafts	18.4	14.3
Liabilities
Derivative liabilities	0.1
Significant Other Observable Inputs (Level 2)
Assets
Trading securities	5.0	6.4
Derivative assets	3.9	4.6
Liabilities
Derivative liabilities	6.1	$ 7.8
Significant Other Unobservable Inputs (Level 3)
Liabilities
Contingent consideration liabilities	45.0
Significant Other Unobservable Inputs (Level 3) \| Other accrued liabilities
Liabilities
Contingent consideration liabilities	18.0
Significant Other Unobservable Inputs (Level 3) \| Long-term retirement benefits and other liabilities
Liabilities
Contingent consideration liabilities	$ 27.0

NET INCOME PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
NET INCOME PER COMMON SHARE
Income from continuing operations									$ 281.8	$ 320.7	$ 274.4
Loss from discontinued operations, net of tax											(0.1)
Net income available to common shareholders	$ (59.6)	$ 108.3	$ 120.9	$ 112.2	$ 62.0	$ 89.1	$ 80.0	$ 89.6	$ 281.8	$ 320.7	$ 274.3
Weighted average number of common shares outstanding									88.3	89.1	91.0
Dilutive shares (additional common shares issuable under stock-based awards)									1.8	1.6	1.9
Weighted average number of common shares outstanding, assuming dilution									90.1	90.7	92.9
Net income per common share:
Continuing operations (in dollars per share)									$ 3.19	$ 3.60	$ 3.01
Net income per common share (in dollars per share)	$ (0.68)	$ 1.23	$ 1.37	$ 1.27	$ 0.70	$ 1.00	$ 0.90	$ 1.00	3.19	3.60	3.01
Net income per common share, assuming dilution:
Continuing operations (in dollars per share)									3.13	3.54	2.95
Net income per common share, assuming dilution (in dollars per share)	$ (0.66)	$ 1.20	$ 1.34	$ 1.25	$ 0.69	$ 0.98	$ 0.88	$ 0.98	$ 3.13	$ 3.54	$ 2.95
Stock-based compensation awards excluded from the computation of net income per common share, assuming dilution										0.2	1.0

SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016	Apr. 30, 2017
SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION
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	1,500,000	3,800,000
Repurchase of common stock, value	$ 129.7	$ 262.4	$ 232.3
Share repurchase authorized amount				$ 650.0
Share repurchase remained authorized amount	$ 625.2	$ 104.9

SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION - Change in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the year	$ (751.9)	$ (683.0)
Other comprehensive income (loss) before reclassifications, net of tax	51.2	(115.9)
Reclassifications to net income, net of tax	20.2	47.0
Net current-period other comprehensive income (loss) income, net of tax	71.4	(68.9)	$ (137.5)
Balance at end of the year	(680.5)	(751.9)	(683.0)
Foreign Currency Translation
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the year	(212.6)	(158.9)
Other comprehensive income (loss) before reclassifications, net of tax	56.4	(53.7)
Net current-period other comprehensive income (loss) income, net of tax	56.4	(53.7)
Balance at end of the year	(156.2)	(212.6)	(158.9)
Pension and Other Postretirement Benefits
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the year	(540.3)	(521.6)
Other comprehensive income (loss) before reclassifications, net of tax	(3.0)	(62.9)
Reclassifications to net income, net of tax	19.3	44.2
Net current-period other comprehensive income (loss) income, net of tax	16.3	(18.7)
Balance at end of the year	(524.0)	(540.3)	(521.6)
Cash Flow Hedges
Changes in Accumulated other comprehensive loss (net of tax)
Balance at beginning of the year	1.0	(2.5)
Other comprehensive income (loss) before reclassifications, net of tax	(2.2)	0.7
Reclassifications to net income, net of tax	0.9	2.8
Net current-period other comprehensive income (loss) income, net of tax	(1.3)	3.5
Balance at end of the year	$ (0.3)	$ 1.0	$ (2.5)

SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION - Reclassification Adjustment Out of Accumulated Other Comprehensive loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold	$ (4,801.6)	$ (4,386.8)	$ (4,321.1)
Interest expense	(63.0)	(59.9)	(60.5)
Income from continuing operations before taxes	589.5	477.1	408.9
Provision for income taxes	(307.7)	(156.4)	(134.5)
Income from continuing operations	281.8	320.7	274.4
Income tax (benefit) expense allocated - Foreign currency translation:
Translation gain (loss)	(25.1)	(3.3)	(2.2)
Income tax (benefit) expense allocated - Pension and other postretirement benefits:
Net loss recognized from actuarial gain/loss and prior service cost/credit	0.5	(24.2)	(11.4)
Reclassifications to net income	8.9	22.6	10.4
Income tax (benefit) expense allocated - Cash flow hedges:
(Losses) gains recognized on cash flow hedges	(0.6)	0.1	(0.3)
Reclassifications to net income	0.5	1.0	(0.5)
Income tax benefit related to items of other comprehensive loss	(15.8)	(3.8)	(4.0)
Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Income from continuing operations	(20.2)	(47.0)	(20.9)
Pension and Other Postretirement Benefits \| Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Pension and other postretirement benefits	(28.2)	(66.8)	(33.3)
Provision for income taxes	8.9	22.6	10.4
Income from continuing operations	(19.3)	(44.2)	(22.9)
Cash Flow Hedges \| Amounts Reclassified from Accumulated other comprehensive loss
Amounts reclassified from Accumulated other comprehensive loss
Income from continuing operations before taxes	(1.4)	(3.8)	2.5
Provision for income taxes	0.5	1.0	(0.5)
Income from continuing operations	(0.9)	(2.8)	2.0
Cash Flow Hedges \| Amounts Reclassified from Accumulated other comprehensive loss \| Foreign exchange contracts
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold	0.2	(3.0)	3.9
Cash Flow Hedges \| Amounts Reclassified from Accumulated other comprehensive loss \| Commodity contracts
Amounts reclassified from Accumulated other comprehensive loss
Cost of products sold	0.2	(0.7)	(1.3)
Cash Flow Hedges \| Amounts Reclassified from Accumulated other comprehensive loss \| Interest Rate Contracts
Amounts reclassified from Accumulated other comprehensive loss
Interest expense	$ (1.8)	$ (0.1)	$ (0.1)

LONG-TERM INCENTIVE COMPENSATION (Details) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2017 shares	Dec. 30, 2017 USD ($) item shares	Dec. 31, 2016 USD ($) $ / shares	Jan. 02, 2016 USD ($) shares
Long-Term Incentive Compensation
Stock option granted \| shares		0		0
Weighted-average fair value per share of options granted \| $ / shares			$ 14.17
Total intrinsic value of stock options exercised		$ 26.8	$ 31.7	$ 43.3
Proceeds from exercises of stock options		22.0	71.0	104.0
Tax benefit associated with option exercises		10.1	$ 11.3	15.6
Weighted average assumptions
Risk-free interest rate			1.75%
Expected stock price volatility			24.58%
Expected dividend yield			2.58%
Expected option term			6 years 6 months
Continuing operations \| Marketing, general and administrative expense
Long-Term Incentive Compensation
Stock-based compensation expense		30.2	$ 27.2	26.3
Tax benefit		4.3	8.5	8.2
Long-term incentive units \| Continuing operations \| Marketing, general and administrative expense
Long-Term Incentive Compensation
Cash-based awards compensation expense		36.6	23.8	27.1
Employee Service Cash Award Tax Benefit from Compensation Expense		$ 8.3	$ 7.8	$ 8.6
Stock Options
Long-Term Incentive Compensation
Option expiration period		10 years
Stock Options \| Ratable vesting
Long-Term Incentive Compensation
Vesting period		4 years
Stock Options \| Minimum
Long-Term Incentive 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)
Long-Term Incentive Compensation
Vesting period		4 years
Number of tranches represented by each vesting period \| item		1
Number of tranches represented by the entire vesting period \| item		4
Market-leveraged stock units (MSUs) \| Ratable vesting
Long-Term Incentive Compensation
Vesting period		4 years
Market-leveraged stock units (MSUs) \| Minimum \| Ratable vesting
Long-Term Incentive Compensation
Shares issued (as a percent)		0.00%
Market-leveraged stock units (MSUs) \| Maximum \| Ratable vesting
Long-Term Incentive Compensation
Shares issued (as a percent)		200.00%
Market-leveraged long-term incentive units \| Ratable vesting
Long-Term Incentive Compensation
Vesting period		4 years
Performance long-term incentive units \| Cliff vesting
Long-Term Incentive Compensation
Vesting period		3 years
Performance long-term incentive units \| Minimum \| Cliff vesting
Long-Term Incentive Compensation
Shares issued (as a percent)		0.00%
Performance long-term incentive units \| Maximum \| Cliff vesting
Long-Term Incentive Compensation
Shares issued (as a percent)		200.00%
Performance Units (PUs) \| Cliff vesting
Long-Term Incentive Compensation
Vesting period		3 years
Performance Units (PUs) \| Minimum \| Cliff vesting
Long-Term Incentive Compensation
Shares issued (as a percent)		0.00%
Performance Units (PUs) \| Maximum \| Cliff vesting
Long-Term Incentive Compensation
Shares issued (as a percent)		200.00%
Restricted Stock Units (RSUs) \| Ratable vesting \| Non-employee directors
Long-Term Incentive Compensation
Vesting period		1 year	3 years
Restricted Stock Units (RSUs) \| Ratable vesting \| Employees
Long-Term Incentive Compensation
Vesting period		4 years
Unvested Stock Options, Performance Units, Restricted Stock Units and Market-leveraged stock units (MSUs) \| Continuing operations
Long-Term Incentive Compensation
Unrecognized compensation cost related to share based compensation cost		$ 38.0
Unrecognized compensation cost weighted average recognition period		2 years
Equity Plan
Long-Term Incentive Compensation
Aggregate number of shares available under the plan \| shares	5,400,000
Fungible share ratio \| shares	1.5

LONG-TERM INCENTIVE COMPENSATION - Stock Option Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Number of options
Outstanding beginning balance, options	1,115,200
Exercised, options	(571,600)
Outstanding ending balance, options	543,600	1,115,200
Options vested and expected to vest, options	527,400
Options exercisable	402,500
Weighted-average exercise price
Outstanding, Weighted-average exercise price, beginning balance	$ 41.29
Exercised, weighted-average exercise price	38.50
Outstanding, Weighted-average exercise price, ending balance	44.22	$ 41.29
Options vested and expected to vest, Weighted-average exercise price	43.30
Options exercisable ,Weighted-average exercise price	$ 33.79
Weighted-average remaining contractual life
Outstanding ,Weighted-average remaining contractual life beginning balance	4 years 11 months 9 days	4 years 8 months 19 days
Outstanding ,Weighted-average remaining contractual life ending balance	4 years 11 months 9 days	4 years 8 months 19 days
Options vested or expected to vest, Weighted-average remaining contractual life	4 years 9 months 29 days
Options exercisable, Weighted-average remaining contractual life	3 years 8 months 19 days
Aggregate intrinsic value
Outstanding, Aggregate intrinsic value beginning balance	$ 32.8
Outstanding, Aggregate intrinsic value ending balance	38.4	$ 32.8
Options vested and expected to vest, Aggregate Intrinsic Value	37.7
Options exercisable, Aggregate Intrinsic Value	$ 32.6

LONG-TERM INCENTIVE COMPENSATION - Number of Awards, Weighted-average Grant-date Fair Value (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Performance Units (PUs)
Number of awards
Unvested at December 31, 2016	490,800
Granted at target	164,400
Adjustments for above-target performance	114,200
Vested	(231,500)
Forfeited/cancelled	(52,800)
Unvested at December 30, 2017	485,100	490,800
Fair value	$ 11.2	$ 13.8	$ 12.2
Weighted-average grant-date fair value
Weighted-average grant-date fair value unvested, beginning balance	$ 58.47
Weighted-average grant-date fair value, granted at target	82.15	$ 68.04	$ 51.37
Weighted-average grant-date fair value, Adjustment for above-target performance	48.59
Weighted-average grant-date fair value, vested	48.26
Weighted-average grant-date fair value, forfeited/Cancelled	66.08
Weighted-average grant-date fair value unvested, ending balance	$ 68.15	$ 58.47
Market-leveraged stock units (MSUs)
Number of awards
Unvested at December 31, 2016	530,700
Granted at target	123,700
Adjustments for above-target performance	126,000
Vested	(342,000)
Forfeited/cancelled	(34,800)
Unvested at December 30, 2017	403,600	530,700
Fair value	$ 19.3	$ 12.4	$ 9.8
Weighted-average grant-date fair value
Weighted-average grant-date fair value unvested, beginning balance	$ 62.09
Weighted-average grant-date fair value, granted at target	91.40	$ 72.93	$ 56.46
Weighted-average grant-date fair value, Adjustment for above-target performance	55.24
Weighted-average grant-date fair value, vested	56.33
Weighted-average grant-date fair value, forfeited/Cancelled	71.15
Weighted-average grant-date fair value unvested, ending balance	$ 70.07	$ 62.09
Restricted Stock Units (RSUs)
Number of awards
Unvested at December 31, 2016	117,700
Granted at target	74,500
Vested	(47,600)
Forfeited/cancelled	(4,200)
Unvested at December 30, 2017	140,400	117,700
Fair value	$ 2.7	$ 5.3	$ 8.4
Weighted-average grant-date fair value
Weighted-average grant-date fair value unvested, beginning balance	$ 58.87
Weighted-average grant-date fair value, granted at target	82.77	$ 67.66	$ 53.29
Weighted-average grant-date fair value, vested	55.72
Weighted-average grant-date fair value, forfeited/Cancelled	59.53
Weighted-average grant-date fair value unvested, ending balance	$ 72.62	$ 58.87

COST REDUCTION ACTIONS (Details) $ in Millions	12 Months Ended
COST REDUCTION ACTIONS (Details) $ in Millions	Dec. 30, 2017 USD ($) item	Dec. 31, 2016 USD ($) item	Jan. 02, 2016 USD ($) item
2015/2016 Actions
Restructuring charges:
Charges (Reversals), net \| $	$ 34.1	$ 20.9	$ 26.1
Number of positions reduced as a result of Cost Reduction Actions \| item	920	440	430
Prior Actions
Restructuring charges:
Charges (Reversals), net \| $			$ 33.4
Number of positions reduced as a result of Cost Reduction Actions \| item			605

COST REDUCTION ACTIONS - Restructuring Charges and Payments (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Severance and related costs
Cost Reduction Actions
Charges (Reversals), net	$ 9.5	$ 8.7	$ 7.3	$ 5.7	$ 4.0	$ 1.9	$ 3.6	$ 5.2	$ 31.2	$ 14.7	$ 52.5
2015/2016 Actions
Cost Reduction Actions
Charges (Reversals), net									34.1	20.9	26.1
2015/2016 Actions \| Severance and related costs
Cost Reduction Actions
Beginning Balance				3.3				8.4	3.3	8.4
Charges (Reversals), net									31.9	15.7
Cash payments									(30.8)	(20.9)
Foreign Currency Translation									(0.1)	0.1
Ending Balance	4.3				3.3				4.3	3.3	8.4
2015/2016 Actions \| Asset impairment charges
Cost Reduction Actions
Charges (Reversals), net									1.0	4.1
Non-cash Impairment									(1.0)	(4.1)
2015/2016 Actions \| Lease cancellation costs
Cost Reduction Actions
Beginning Balance				0.2				0.2	0.2	0.2
Charges (Reversals), net									1.2	1.1
Cash payments									(0.8)	(1.1)
Ending Balance	0.6				0.2				0.6	0.2	0.2
Prior Actions
Cost Reduction Actions
Charges (Reversals), net											33.4
Prior Actions \| Severance and related costs
Cost Reduction Actions
Beginning Balance				1.3				5.5	1.3	5.5
Charges (Reversals), net									(0.7)	(1.0)
Cash payments									(0.6)	(3.2)
Ending Balance					1.3					1.3	5.5
Total
Cost Reduction Actions
Beginning Balance				$ 4.8				$ 14.1	4.8	14.1
Charges (Reversals), net									33.4	19.9
Cash payments									(32.2)	(25.2)
Non-cash Impairment									(1.0)	(4.1)
Foreign Currency Translation									(0.1)	0.1
Ending Balance	$ 4.9				$ 4.8				$ 4.9	$ 4.8	$ 14.1

COST REDUCTION ACTIONS - Restructuring Charges (Details) - Continuing operations - Other expense, net - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Restructuring charges:
Restructuring charges	$ 33.4	$ 19.9	$ 59.5
Label and Graphic Materials
Restructuring charges:
Restructuring charges	14.8	8.5	13.6
Retail Branding and Information Solutions
Restructuring charges:
Restructuring charges	18.4	10.5	35.7
Industrial and Healthcare Materials
Restructuring charges:
Restructuring charges	$ 0.2	$ 0.9	8.0
Corporate
Restructuring charges:
Restructuring charges			$ 2.2

TAXES BASED ON INCOME (Details) - USD ($) $ in Millions	12 Months Ended
TAXES BASED ON INCOME (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Current:
U.S. federal tax	$ 47.0	$ 10.1	$ 26.4
State taxes	0.2	0.6	(0.1)
International taxes	111.0	77.3	92.7
Total	158.2	88.0	119.0
Deferred:
U.S. federal tax	134.8	64.4	6.3
State taxes	(3.7)	(3.0)	0.5
International taxes	18.4	7.0	8.7
Total	149.5	68.4	15.5
Provision for income taxes	$ 307.7	$ 156.4	$ 134.5

TAXES BASED ON INCOME - Increase (Decrease) in Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
TAXES BASED ON INCOME
Computed tax at 35% of income before taxes	$ 206.7	$ 167.0	$ 143.1
U.S statutory income tax rate	35.00%	35.00%	35.00%
Increase (decrease) in taxes resulting from:
State taxes, net of federal tax benefit	$ (3.2)	$ 2.2	$ 1.3
Tax Cuts and Jobs Act	172.0
Foreign earnings taxed at different rates	(40.2)	27.0	(7.5)
Excess tax benefits associated with stock based payments	(16.0)
Valuation allowance	(1.4)	(11.9)	0.9
Corporate-owned life insurance	(6.7)	(4.3)	(1.9)
U.S. federal research and development tax credits	(4.9)	(2.9)	(2.6)
Tax contingencies and audit settlements	(1.9)	(20.7)	5.1
Other items, net	3.3		(3.9)
Provision for income taxes	307.7	$ 156.4	$ 134.5
Net tax charge result from TCJA	172.0
Tax benefit recognized as a result of the adoption of the accounting guidance update related to stock-based payments	$ 16.0

TAXES BASED ON INCOME - Income (Loss) from Continuing Operations before Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
TAXES BASED ON INCOME
U.S.	$ 49.0	$ 17.9	$ 33.9
International	540.5	459.2	375.0
Income from continuing operations before taxes	$ 589.5	$ 477.1	$ 408.9

TAXES BASED ON INCOME - Effective Tax Rate (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 22, 2017	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Effective tax rate (as a percent)		52.20%	32.80%	32.90%
Net tax charge result from TCJA		$ 172.0
Tax benefit from release of valuation allowance on certain state deferred tax assets		5.1
Tax benefit, including interest and penalties, from effective settlements and changes in our judgment about tax filing positions as result of new information		4.2
Tax benefit from decreases in certain tax reserves, including interest and penalties, as a result of closing tax years		4.4
Tax benefit recognized as a result of the adoption of the accounting guidance update related to stock-based payments		16.0
Tax-related deferred charges recognized in other current assets and other assets		14.0
Tax expense associated with the tax cost to repatriate current earnings of certain foreign subsidiaries			$ 7.6	$ 20.0
Tax expense related to the U.S. income and foreign withholding taxes resulting from changes in indefinite reinvestment assertions on certain foreign earnings and profits			46.3
Tax benefits on changes in certain tax reserves, including interest and penalties, resulting from settlements of audits			16.8	5.8
Tax benefits on changes in certain tax reserves, including interest and penalties, resulting from expirations of statutes of limitations			5.4	8.2
Tax benefit from release of valuation allowance against certain deferred tax assets in a foreign jurisdiction associated with a structural simplification approved by tax authority			6.7
Tax benefit on release of valuation allowance on certain state deferred tax assets			3.6
Tax expense from deferred tax adjustments resulting from tax rate changes in certain foreign jurisdictions			$ 8.4
Tax benefit from the extension of the federal research and development credit				$ 2.6
Corporate income tax rates that was enacted in the U.S. by the TCJA	21.00%
Estimated provisional amount from TCJA		172.0
Estimated transition tax, provisional amount		147.0
Estimated remeasurement of net U.S. deferred tax assets at a lower enacted corporate income tax rate		49.2
Reserve related to potential uncertainties of our accumulated tax attributes that were used in our estimated transition tax calculation		9.3
Estimated reduction of previously recognized U.S. deferred tax assets that no longer anticipate to benefit due to changes in future deductibility of executive compensation		5.3
Net benefit primarily from reversal of the deferred tax liability that are previously recorded for future tax costs with repatriations of certain foreign earnings that are not indefinitely reinvested		38.8
Increase to deferred tax liability due to absent the availability of foreign tax credit to offset against potential foreign withholding taxes related to future repatriation of certain foreign earnings and profit that are not indefinitely reinvested		11.5
Deferred tax liability recorded for potential future taxes related to foreign earnings		0.0
The fully utilizatin of U.S. federal tax credit carryforwards as a result of the transition tax imposed by the TCJA, causing a reduction in non-current deferred tax assets		101.2
Estimated cash tax impact of transition tax, net of tax credit carryforwards and expected tax credits estimated to be generated in 2017		$ 27.8
Transition cash tax, elected payment period (in years)		8 years
Transition cash tax first installment, current income taxes payable		$ 2.2
Transition cash tax balance, non-current income taxes payable		25.6
Total accumulated undistributed earnings and profits of foreign subsidiaries		2,900.0
Undistributed earnings and profits of foreign subsidiaries subject to transition tax associated with the TCJA		2,500.0
Undistributed earnings and profits of foreign subsidiaries subject to transition tax associated with the TCJA that were previously taxed		400.0
Deferred income taxes of accumulated undistributed earnings of foreign subsidiaries that are intended to be indefinitely reinvested in foreign operations		$ 2,300.0
Minimum
Percentage of ownership that provides full exemption for foreign dividends received by a U.S. corporation from a foreign corporation that implemented by the TCJA		10.00%

TAXES BASED ON INCOME - Schedule of Components of the Temporary Differences (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Schedule of components of the temporary differences
Accrued expenses not currently deductible	$ 19.9	$ 42.1
Net operating losses	185.9	195.9
Tax credit carryforwards	14.0	111.3
Stock-based compensation	18.0	28.4
Pension and other postretirement benefits	140.9	207.7
Inventory reserves	6.5	7.1
Unrealized foreign currency losses	14.9
Other assets	6.3	0.9
Valuation allowance	(63.4)	(60.4)
Total deferred tax assets	343.0	533.0
Depreciation and amortization	(95.3)	(86.1)
Repatriation accrual	(27.7)	(62.1)
Foreign operating loss recapture	(54.9)	(79.8)
Other liabilities	(8.8)	(2.3)
Total deferred tax liabilities	(186.7)	(230.3)
Total net deferred tax assets	156.3	302.7
Net deferred tax liabilities associated with the future tax cost to repatriate non-indefinitely reinvested earnings of the Company's foreign subsidiaries	$ 27.7	$ 62.4

TAXES BASED ON INCOME - Net Operating Loss and Tax Carryforwards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Net operating loss and tax carryforwards
Tax credit carryforwards	$ 14.0	$ 111.3
Net operating loss and credit carryforward
Net operating loss and tax carryforwards
Net operating loss carryforwards	633.7
Tax credit carryforwards	14.0
2018
Net operating loss and tax carryforwards
Net operating loss carryforwards	14.3
2019
Net operating loss and tax carryforwards
Net operating loss carryforwards	4.8
2020
Net operating loss and tax carryforwards
Net operating loss carryforwards	5.5
2021
Net operating loss and tax carryforwards
Net operating loss carryforwards	3.5
2022
Net operating loss and tax carryforwards
Net operating loss carryforwards	9.8
2023
Net operating loss and tax carryforwards
Net operating loss carryforwards	5.0
2024
Net operating loss and tax carryforwards
Net operating loss carryforwards	0.4
2025
Net operating loss and tax carryforwards
Net operating loss carryforwards	2.3
2026
Net operating loss and tax carryforwards
Net operating loss carryforwards	0.9
2027
Net operating loss and tax carryforwards
Net operating loss carryforwards	0.8
2034
Net operating loss and tax carryforwards
Net operating loss carryforwards	0.7
Indefinite life/no expiry
Net operating loss and tax carryforwards
Net operating loss carryforwards	585.7
2018
Net operating loss and tax carryforwards
Tax credit carryforwards	0.1
2019
Net operating loss and tax carryforwards
Tax credit carryforwards	0.1
2020
Net operating loss and tax carryforwards
Tax credit carryforwards	0.2
2021
Net operating loss and tax carryforwards
Tax credit carryforwards	0.4
2022
Net operating loss and tax carryforwards
Tax credit carryforwards	0.5
2023
Net operating loss and tax carryforwards
Tax credit carryforwards	0.5
2024
Net operating loss and tax carryforwards
Tax credit carryforwards	0.3
2025
Net operating loss and tax carryforwards
Tax credit carryforwards	0.3
2026
Net operating loss and tax carryforwards
Tax credit carryforwards	1.6
2027
Net operating loss and tax carryforwards
Tax credit carryforwards	0.3
2028
Net operating loss and tax carryforwards
Tax credit carryforwards	0.1
2029
Net operating loss and tax carryforwards
Tax credit carryforwards	0.1
2030
Net operating loss and tax carryforwards
Tax credit carryforwards	0.2
2031
Net operating loss and tax carryforwards
Tax credit carryforwards	0.3
2032
Net operating loss and tax carryforwards
Tax credit carryforwards	0.4
Indefinite life/no expiry
Net operating loss and tax carryforwards
Tax credit carryforwards	8.6
Foreign
Net operating loss and tax carryforwards
Net operating loss carryforwards	$ 633.7	$ 689.9
Foreign \| Maximum
Net operating loss and tax carryforwards
Expected period for certain indefinite-lived foreign net operating losses to be fully utilized	50 years
State
Net operating loss and tax carryforwards
Net operating loss carryforwards	$ 523.0
Operating loss carryforwards, valuation allowance	$ 521.1

TAXES BASED ON INCOME - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
TAXES BASED ON INCOME
Unrecognized tax benefits	$ 108.7	$ 89.5	$ 107.3
Unrecognized tax benefits, if recognized, would reduce annual effective income tax rate	83.9	71.5
Interest expense and penalties recognized in current year for uncertain tax positions	1.5	3.1	$ (1.3)
Accrued interest and penalties for uncertain tax positions, net of tax benefit	$ 25.8	$ 22.3

TAXES BASED ON INCOME - Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at beginning of year	$ 89.5	$ 107.3
Additions for tax positions of the current year	14.1	6.9
Additions (reductions) for tax positions of prior years	3.0	(15.7)
Settlements with tax authorities	(1.6)	(2.1)
Expirations of statutes of limitations	(2.7)	(4.2)
Changes due to translation of foreign currencies	6.4	(2.7)
Balance at end of year	108.7	$ 89.5
Reasonably possible decrease in uncertain tax positions, including interest and penalties, during the next 12 months	$ (22.0)

SEGMENT INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Millions	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Segment Information
Net sales to unaffiliated customers	$ 1,735.3	$ 1,679.5	$ 1,626.9	$ 1,572.1	$ 1,550.8	$ 1,508.7	$ 1,541.5	$ 1,485.5	$ 6,613.8	$ 6,086.5	$ 5,966.9
Interest expense									(63.0)	(59.9)	(60.5)
Income from continuing operations before taxes									589.5	477.1	408.9
Capital expenditures									193.8	176.9	138.9
Depreciation and amortization expense									178.7	180.1	188.3
Other expense, net	$ 9.0	$ 10.8	$ 10.2	$ 6.5	$ 4.8	$ 4.6	$ 50.2	$ 5.6	36.5	65.2	68.3
Intersegment sales
Segment Information
Net sales to unaffiliated customers									75.0	73.5	79.0
Label and Graphic Materials \| Operating segments
Segment Information
Net sales to unaffiliated customers									4,511.7	4,187.3	4,032.1
Income from continuing operations before taxes									567.3	516.2	453.4
Capital expenditures									125.5	118.8	68.3
Depreciation and amortization expense									102.3	103.1	104.9
Other expense, net									14.5	13.0	12.1
Label and Graphic Materials \| Intersegment sales
Segment Information
Net sales to unaffiliated customers									64.1	63.4	61.3
Retail Branding and Information Solutions \| Operating segments
Segment Information
Net sales to unaffiliated customers									1,511.2	1,445.4	1,443.4
Income from continuing operations before taxes									122.9	102.6	51.6
Capital expenditures									48.8	50.9	51.0
Depreciation and amortization expense									56.4	64.3	70.6
Other expense, net									18.1	9.8	45.7
Retail Branding and Information Solutions \| Intersegment sales
Segment Information
Net sales to unaffiliated customers									3.2	2.9	2.9
Industrial and Healthcare Materials \| Operating segments
Segment Information
Net sales to unaffiliated customers									590.9	453.8	491.4
Income from continuing operations before taxes									50.5	54.6	57.1
Capital expenditures									19.5	7.2	19.6
Depreciation and amortization expense									20.0	12.7	12.8
Other expense, net									3.7	1.9	8.0
Industrial and Healthcare Materials \| Intersegment sales
Segment Information
Net sales to unaffiliated customers									7.7	7.2	14.8
Industrial and Healthcare Materials \| Performance Tapes
Segment Information
Net sales to unaffiliated customers									515.1	377.4	414.6
Corporate
Segment Information
Income from continuing operations before taxes									(88.2)	(136.4)	(92.7)
Other expense, net									$ 0.2	$ 40.5	$ 2.5

SEGMENT INFORMATION - Other Expense, Net by Type (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Other items:
Transaction costs									$ 5.2	$ 5.0
Net gains on sales of assets	$ (2.1)								(2.1)	(1.1)	$ (1.7)
Net loss from curtailment and settlement of pension obligations							$ 41.4			41.4	0.3
Legal settlements											(0.3)
Loss on sale of product line and related exit costs											10.5
Other expense, net	9.0	$ 10.8	$ 10.2	$ 6.5	$ 4.8	$ 4.6	50.2	$ 5.6	36.5	65.2	68.3
Severance and related costs
Restructuring charges:
Restructuring charges	9.5	8.7	7.3	$ 5.7	4.0	1.9	3.6	5.2	31.2	14.7	52.5
Asset impairment charges and lease cancellation costs
Restructuring charges:
Restructuring charges	$ 0.1	$ 1.8	$ 0.3		$ 1.3	$ 0.7	$ 2.8	$ 0.4	$ 2.2	$ 5.2	$ 7.0

SEGMENT INFORMATION - Net Sales to Unaffiliated Customers and Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Net sales to unaffiliated customers
Net sales to unaffiliated customers	$ 1,735.3	$ 1,679.5	$ 1,626.9	$ 1,572.1	$ 1,550.8	$ 1,508.7	$ 1,541.5	$ 1,485.5	$ 6,613.8	$ 6,086.5	$ 5,966.9
Property, plant and equipment, net
Property, plant and equipment, net	1,097.9				915.2				1,097.9	915.2	847.9
U.S.
Net sales to unaffiliated customers
Net sales to unaffiliated customers									1,557.8	1,525.6	1,546.8
Property, plant and equipment, net
Property, plant and equipment, net	286.4				278.5				286.4	278.5	263.4
Europe
Net sales to unaffiliated customers
Net sales to unaffiliated customers									2,041.6	1,838.8	1,753.0
Asia
Net sales to unaffiliated customers
Net sales to unaffiliated customers									2,250.5	1,996.1	1,924.0
China (including Hong Kong)
Net sales to unaffiliated customers
Net sales to unaffiliated customers									1,300.0	1,140.0	1,140.0
Latin America
Net sales to unaffiliated customers
Net sales to unaffiliated customers									476.4	450.5	466.3
Other International
Net sales to unaffiliated customers
Net sales to unaffiliated customers									287.5	275.5	276.8
International
Property, plant and equipment, net
Property, plant and equipment, net	$ 811.5				$ 636.7				$ 811.5	$ 636.7	$ 584.5

SUPPLEMENTAL FINANCIAL INFORMATION (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016
Inventories
Raw materials	$ 214.6	$ 185.0
Work-in-progress	179.8	156.8
Finished goods	215.2	177.3
Inventories, net	$ 609.6	$ 519.1

SUPPLEMENTAL FINANCIAL INFORMATION - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Property, Plant and Equipment
Property, plant and equipment	$ 3,000.9	$ 2,661.4
Accumulated depreciation	(1,903.0)	(1,746.2)
Property, plant and equipment, net	1,097.9	915.2	$ 847.9
Land
Property, Plant and Equipment
Property, plant and equipment	31.1	29.3
Buildings and improvements
Property, Plant and Equipment
Property, plant and equipment	638.9	565.3
Machinery and equipment
Property, Plant and Equipment
Property, plant and equipment	2,188.2	1,949.5
Construction-in-progress
Property, Plant and Equipment
Property, plant and equipment	$ 142.7	$ 117.3

SUPPLEMENTAL FINANCIAL INFORMATION - Software, Equity Method Investment and Research and Development (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016	Oct. 31, 2016
Research and Development
Research and development expense	$ 93.4	$ 89.7	$ 91.9
PragmatIC
Equity Method Investment
Interest of equity method investment				22.60%
Carrying value of investment	9.1	9.5
Total software
Capitalized software costs
Software amortization expense from continuing operations	29.3	37.9	$ 37.6
Total software \| Other assets
Capitalized software costs
Cost	428.9	415.5
Accumulated amortization	(301.8)	(297.9)
Software, net	$ 127.1	$ 117.6

SUPPLEMENTAL FINANCIAL INFORMATION - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Cash paid for interest and income taxes
Interest, net of capitalized amounts	$ 57.7	$ 58.9	$ 60.1
Income taxes, net of refunds	125.6	106.1	129.9
Foreign Currency Effects
Foreign currency translation adjustment	$ 4.1	$ 1.6	$ 6.1

SUPPLEMENTAL FINANCIAL INFORMATION - Sale Of Product Line (Details) - Retail Branding and Information Solutions - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2015	Apr. 04, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of product line	$ 1.5
Loss on sale of product line and related transaction and exit costs	8.5
Severance costs	$ 3.4
Other expense, net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets of product line		$ 2.0

QUARTERLY FINANCIAL INFORMATION (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
QUARTERLY FINANCIAL INFORMATION (Unaudited)
Net sales	$ 1,735.3	$ 1,679.5	$ 1,626.9	$ 1,572.1	$ 1,550.8	$ 1,508.7	$ 1,541.5	$ 1,485.5	$ 6,613.8	$ 6,086.5	$ 5,966.9
Gross profit	465.6	451.6	452.6	442.4	425.4	417.6	434.1	422.6	1,812.2	1,699.7	1,645.8
Net income (loss)	$ (59.6)	$ 108.3	$ 120.9	$ 112.2	$ 62.0	$ 89.1	$ 80.0	$ 89.6	$ 281.8	$ 320.7	$ 274.3
Net income (loss) per common share:
Net income (loss) per common share (in dollars per share)	$ (0.68)	$ 1.23	$ 1.37	$ 1.27	$ 0.70	$ 1.00	$ 0.90	$ 1.00	$ 3.19	$ 3.60	$ 3.01
Net income (loss) per common share, assuming dilution:
Net income (loss) per common share, assuming dilution (in dollars per share)	$ (0.66)	$ 1.20	$ 1.34	$ 1.25	$ 0.69	$ 0.98	$ 0.88	$ 0.98	$ 3.13	$ 3.54	$ 2.95
Net tax charge result from TCJA									$ 172.0

QUARTERLY FINANCIAL INFORMATION (Unaudited) - Other Expense, Net by Type (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Other items:
Loss from settlement of pension obligations							$ 41.4			$ 41.4	$ 0.3
Net gains on sales of assets	$ (2.1)								$ (2.1)	(1.1)	(1.7)
Loss (gain) on sales of assets					$ (1.4)		0.3
Transaction costs	1.5	$ 0.3	$ 2.6	$ 0.8	0.9	$ 2.0	2.1
Other expense, net	9.0	10.8	10.2	6.5	4.8	4.6	50.2	$ 5.6	36.5	65.2	68.3
Severance and related costs
Restructuring charges:
Restructuring charges	9.5	8.7	7.3	$ 5.7	4.0	1.9	3.6	5.2	31.2	14.7	52.5
Asset impairment charges and lease cancellation costs
Restructuring charges:
Restructuring charges	$ 0.1	$ 1.8	$ 0.3		$ 1.3	$ 0.7	$ 2.8	$ 0.4	$ 2.2	$ 5.2	$ 7.0