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Consolidated Balance Sheets - USD ($)
$ in Millions
Jul. 02, 2023
Dec. 25, 2022
Jun. 26, 2022
Current assets      
Cash and cash equivalents including restricted cash of $4.9 million, $41.9 million and $14.5 million $ 216.6 $ 513.1 $ 628.2
Accounts receivable, less allowance for doubtful accounts of $22.2 million, $24.9 million and $20.0 million 877.0 1,132.4 870.5
Inventories 731.3 676.8 867.5
Prepaid expenses and other current assets 684.1 676.8 719.2
Total current assets 2,509.0 2,999.1 3,085.4
Property, plant and equipment, less accumulated depreciation of $643.4 million, $644.2 million and $654.5 million 515.4 422.8 409.9
Other assets      
Goodwill 3,239.2 3,470.1 3,483.2
Other intangible assets, net of accumulated amortization of $1,259.9 million, $1,089.4 million and $1,137.2 million 724.8 814.6 1,156.9
Other 1,621.3 1,589.3 1,367.6
Total other assets 5,585.3 5,874.0 6,007.7
Total assets 8,609.7 9,295.9 9,503.0
Current liabilities      
Short-term borrowings 148.2 142.4 98.0
Current portion of long-term debt 69.4 113.2 137.0
Accounts payable 363.4 427.3 543.8
Accrued liabilities 1,369.4 1,506.8 1,379.4
Total current liabilities 1,950.4 2,189.7 2,158.2
Long-term debt 3,668.5 3,711.2 3,739.0
Other liabilities 520.6 533.1 570.0
Total liabilities 6,139.5 6,434.0 6,467.2
Redeemable noncontrolling interests 0.0 0.0 23.0
Shareholders' equity      
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued 0.0 0.0 0.0
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 220,286,736 shares at July 2, 2023, June 26, 2022, and December 25, 2022 110.1 110.1 110.1
Additional paid-in capital 2,554.6 2,540.6 2,503.4
Retained earnings 3,618.1 4,071.4 4,265.9
Accumulated other comprehensive loss (213.5) (254.9) (259.6)
Treasury stock, at cost; 81,568,249 shares at July 2, 2023; 82,199,298 shares at June 26, 2022; and 82,106,383 shares at December 25, 2022 (3,626.3) (3,634.4) (3,636.2)
Noncontrolling interests 27.2 29.1 29.2
Total shareholders' equity 2,470.2 2,861.9 3,012.8
Total liabilities, noncontrolling interests and shareholders' equity $ 8,609.7 $ 9,295.9 $ 9,503.0