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Consolidated Balance Sheets - USD ($)
$ in Millions
Oct. 01, 2023
Dec. 25, 2022
Sep. 25, 2022
Current assets      
Cash and cash equivalents including restricted cash of $1.1 million, $6.1 million and $14.5 million $ 185.5 $ 513.1 $ 551.6
Accounts receivable, less allowance for doubtful accounts of $20.8 million, $21.8 million and $20.0 million 1,102.0 1,132.4 1,188.8
Inventories 617.7 676.8 844.5
Prepaid expenses and other current assets 286.2 676.8 658.8
Assets held for sale 1,048.7 0.0 16.8
Total current assets 3,240.1 2,999.1 3,260.5
Property, plant and equipment, less accumulated depreciation of $603.3 million, $640.3 million and $654.5 million 474.6 422.8 411.8
Other assets      
Goodwill 3,238.8 3,470.1 3,469.8
Other intangible assets, net of accumulated amortization of $1,229.3 million, $1,094.6 million and $1,137.2 million 655.1 814.6 1,079.7
Other 731.6 1,589.3 1,404.3
Total other assets 4,625.5 5,874.0 5,953.8
Total assets 8,340.2 9,295.9 9,626.1
Current liabilities      
Short-term borrowings 0.0 142.4 122.3
Current portion of long-term debt 60.0 113.2 122.6
Accounts payable 371.4 427.3 559.5
Accrued liabilities 985.4 1,506.8 1,537.5
Liabilities held for sale 607.4 0.0 15.0
Total current liabilities 2,024.2 2,189.7 2,356.9
Long-term debt 3,654.6 3,711.2 3,725.1
Other liabilities 438.2 533.1 545.1
Total liabilities 6,117.0 6,434.0 6,627.1
Redeemable noncontrolling interests 0.0 0.0 0.0
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 October 1, 2023, September 25, 2022, and December 25, 2022 110.1 110.1 110.1
Additional paid-in capital 2,574.1 2,540.6 2,530.1
Retained earnings 3,348.3 4,071.4 4,297.8
Accumulated other comprehensive loss (208.4) (254.9) (324.9)
Treasury stock, at cost; 81,541,637 shares at October 1, 2023; 82,178,615 shares at September 25, 2022; and 82,106,383 shares at December 25, 2022 (3,626.3) (3,634.4) (3,637.1)
Noncontrolling interests 25.4 29.1 23.0
Total shareholders' equity 2,223.2 2,861.9 2,999.0
Total liabilities, noncontrolling interests and shareholders' equity $ 8,340.2 $ 9,295.9 $ 9,626.1