Avery Dennison Corp
For the period ended Dec 28, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
AVY$189.04+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for 202, 202 and
Consolidated Statements of Cash Flows
| (In millions) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating Activities | |||
| Net income | $704.9 | $503.0 | $757.1 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 197.1 | 187.4 | 177.4 |
| Amortization | 115.1 | 111.0 | 113.3 |
| Provision for credit losses and sales returns | 47.4 | 49.9 | 50.1 |
| Stock-based compensation | 28.7 | 22.3 | 47.4 |
| Deferred taxes and other non-cash taxes | (18.5) | (24.4) | 18.4 |
| Other non-cash expense and loss (income and gain), net | 67.2 | 37.1 | 23.5 |
| Changes in assets and liabilities and other adjustments: | |||
| Trade accounts receivable | (107.3) | (16.7) | (22.1) |
| Inventories | (90.7) | 111.7 | (140.7) |
| Accounts payable | 106.7 | (87.6) | 68.2 |
| Taxes on income | 40.2 | (18.7) | 18.9 |
| Other assets | (48.0) | 37.7 | 15.3 |
| Other liabilities | (104.0) | (86.7) | (165.8) |
| Net cash provided by operating activities | 938.8 | 826.0 | 961.0 |
| Investing Activities | |||
| Purchases of property, plant and equipment | (208.8) | (265.3) | (278.1) |
| Purchases of software and other deferred charges | (31.0) | (19.8) | (20.4) |
| Proceeds from company-owned life insurance policies | — | 48.1 | — |
| Purchases of Argentine Blue Chip Swap securities | (34.2) | — | — |
| Proceeds from sales of Argentine Blue Chip Swap securities | 24.0 | — | — |
| Proceeds from sales of property, plant and equipment | .6 | 1.0 | 2.3 |
| Proceeds from insurance and sales (purchases) of investments, net | 10.1 | 1.9 | 1.9 |
| Proceeds from sale of venture investment | — | — | 1.1 |
| Payments for acquisitions, net of cash acquired, and venture investments | (3.8) | (224.9) | (39.5) |
| Net cash used in investing activities | (243.1) | (459.0) | (332.7) |
| Financing Activities | |||
| Net increase (decrease) in borrowings with maturities of three months or less | (269.0) | (36.6) | 34.6 |
| Additional long-term borrowings | 539.2 | 394.9 | — |
| Repayments of long-term debt and finance leases | (308.1) | (255.9) | (6.3) |
| Dividends paid | (277.5) | (256.7) | (238.9) |
| Share repurchases | (247.5) | (137.5) | (379.5) |
| Net (tax withholding) proceeds related to stock-based compensation | (8.4) | (23.8) | (25.1) |
| Other | (4.8) | (1.6) | — |
| Net cash used in financing activities | (576.1) | (317.2) | (615.2) |
| Effect of foreign currency translation on cash balances | (5.5) | (2.0) | (8.6) |
| Increase (decrease) in cash and cash equivalents | 114.1 | 47.8 | 4.5 |
| Cash and cash equivalents, beginning of year | 215.0 | 167.2 | 162.7 |
| Cash and cash equivalents, end of year | $329.1 | $215.0 | $167.2 |
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