v3.26.1
Segment and Disaggregated Revenue Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information by Segment
Disaggregated revenue information is shown below in the manner that best reflects how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Revenue from our Materials Group reportable segment is attributed to geographic areas based on the location from which products are shipped. Revenue from our Solutions Group reportable segment is shown by product group.
Three Months EndedSix Months Ended
(In millions)
June 30, 2026(1)
June 28, 2025
June 30, 2026(1)
June 28, 2025
Net sales to unaffiliated customers
Materials Group:
North America
$561.1 $496.3 $1,090.9 $986.5 
Europe, the Middle East and North Africa
657.6 548.3 1,247.6 1,065.9 
Asia Pacific
442.1 385.6 851.0 744.1 
Latin America135.3 120.0 255.9 233.8 
Total Materials Group
1,796.1 1,550.2 3,445.4 3,030.3 
Solutions Group:
Apparel and other
437.2 431.6 875.2 886.4 
Identification Solutions and Vestcom229.6 238.7 440.8 452.1 
Total Solutions Group
666.8 670.3 1,316.0 1,338.5 
Net sales to unaffiliated customers$2,462.9 $2,220.5 $4,761.4 $4,368.8 
(1) Beginning in the first quarter of 2026 and to better align with our growth strategy, incremental revenues for certain radio-frequency identification products were included in the Materials Group reportable segment; in prior years, these revenues were included in the Solutions Group reportable segment. Prior-year amounts were not material.
Additional financial information by reportable segment is shown below. We do not disclose total assets by reportable segment since we neither generate nor review that information internally.
Three Months Ended Six Months Ended
(In millions)June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Intersegment sales
Materials Group$36.6 $46.0 $70.3 $89.9 
Solutions Group25.6 12.5 40.1 25.7 
Intersegment sales$62.2 $58.5 $110.4 $115.6 
Capital expenditures(1)(2)
Materials Group$29.3 $18.4 $45.8 $32.0 
Solutions Group17.1 17.6 29.5 35.0 
Capital expenditures
$46.4 $36.0 $75.3 $67.0 
Depreciation and amortization expense(1)
Materials Group$38.6 $33.0 $77.3 $64.5 
Solutions Group47.8 47.8 95.9 94.2 
Depreciation and amortization expense$86.4 $80.8 $173.2 $158.7 
(1) Corporate capital expenditures and depreciation and amortization expense are allocated to the reportable segments based on their percentage of consolidated net sales.
(2) Capital expenditures for property, plant and equipment included accruals.

Other expense (income), net, by type was as follows:
Three Months Ended Six Months Ended
(In millions)June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Other expense (income), net, by type
Restructuring charges, net of reversals:
Severance and related costs, net of reversals
$16.2 $7.9 $30.7 $12.6 
Asset impairment and lease cancellation charges
2.4 .1 3.7 .3 
(Gain) loss on venture and other investments1.2 1.8 2.5 16.1 
Loss from Argentine peso remeasurement.8 1.8 1.3 2.5 
(Gain) loss on sales of assets
— (11.1)(.1)(11.1)
Outcomes of legal matters and settlements.5 — .7 — 
Transaction and related costs— — .1 — 
Other expense (income), net$21.1 $.5 $38.9 $20.4 
Schedule of Segment Results and Reconciliation to Income Before Taxes Segment results and reconciliation to income before taxes are presented below.
Three Months EndedSix Months Ended
(In millions)June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Materials Group
Net sales to unaffiliated customers
$1,796.1 $1,550.2 $3,445.4 $3,030.3 
Segment expense(1)
1,512.1 1,307.7 2,907.2 2,557.5 
Segment adjusted operating income$284.0 $242.5 $538.2 $472.8 
Solutions Group
Net sales to unaffiliated customers
$666.8 $670.3 $1,316.0 $1,338.5 
Segment expense(1)
590.3603.3 1,181.0 1,203.3 
Segment adjusted operating income$76.5 $67.0 $135.0 $135.2 
(1) Segment expense included cost of products sold and marketing, general and administrative expense and excluded other expense (income), net.
Three Months EndedSix Months Ended
(In millions)
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Segment adjusted operating income
Materials Group$284.0 $242.5 $538.2 $472.8 
Solutions Group76.5 67.0 135.0 135.2 
Total
360.5 309.5 673.2 608.0 
Corporate expense(1)
(25.9)(22.8)(48.9)(46.8)
Other expense (income), net
(21.1)(.5)(38.9)(20.4)
Interest expense(35.9)(34.0)(71.5)(64.9)
Other non-operating expense (income), net5.1 3.3 9.2 6.6 
Income before taxes$282.7 $255.5 $523.1 $482.5 
(1) Corporate expense generally includes unallocated corporate headquarter expenses such as administrative and stock-based compensation costs.