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Avery Dennison Corp. – ‘10-K’ for 12/30/23 – ‘EX-31.2’

On:  Wednesday, 2/21/24, at 4:04pm ET   ·   For:  12/30/23   ·   Accession #:  8818-24-3   ·   File #:  1-07685

Previous ‘10-K’:  ‘10-K’ on 2/22/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   31 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/21/24  Avery Dennison Corp.              10-K       12/30/23  128:14M

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.48M 
 2: EX-21       Subsidiaries List                                   HTML    101K 
 3: EX-23       Consent of Expert or Counsel                        HTML     35K 
 8: EX-97       Clawback Policy re: Recovery of Erroneously         HTML     54K 
                Awarded Compensation                                             
 4: EX-31.1     Certification -- §302 - SOA'02                      HTML     39K 
 5: EX-31.2     Certification -- §302 - SOA'02                      HTML     39K 
 6: EX-32.1     Certification -- §906 - SOA'02                      HTML     36K 
 7: EX-32.2     Certification -- §906 - SOA'02                      HTML     37K 
14: R1          Cover Page                                          HTML    107K 
15: R2          Audit Information                                   HTML     40K 
16: R3          Consolidated Balance Sheets                         HTML    133K 
17: R4          Consolidated Balance Sheets (Parenthetical)         HTML     49K 
18: R5          Consolidated Statements of Income                   HTML    104K 
19: R6          Consolidated Statements of Comprehensive Income     HTML     74K 
20: R7          Consolidated Statements of Shareholders' Equity     HTML     76K 
21: R8          Consolidated Statements of Shareholders' Equity     HTML     45K 
                (Parenthetical)                                                  
22: R9          Consolidated Statements of Cash Flows               HTML    127K 
23: R10         Summary of Significant Accounting Policies          HTML     75K 
24: R11         Business Acquisitions                               HTML     46K 
25: R12         Goodwill and Other Intangibles Resulting From       HTML     92K 
                Business Acquisitions                                            
26: R13         Debt                                                HTML     71K 
27: R14         Financial Instruments                               HTML     65K 
28: R15         Pension and Other Postretirement Benefits           HTML    261K 
29: R16         Commitments and Leases                              HTML    135K 
30: R17         Contingencies                                       HTML     57K 
31: R18         Fair Value Measurements                             HTML     75K 
32: R19         Net Income Per Common Share                         HTML     52K 
33: R20         Supplemental Equity and Comprehensive Income        HTML     82K 
                Information                                                      
34: R21         Long-Term Incentive Compensation                    HTML     95K 
35: R22         Cost Reduction Actions                              HTML     89K 
36: R23         Taxes Based on Income                               HTML    137K 
37: R24         Segment and Disaggregated Revenue Information       HTML    161K 
38: R25         Supplemental Financial Information                  HTML     90K 
39: R26         Pay vs Performance Disclosure                       HTML     47K 
40: R27         Insider Trading Arrangements                        HTML     41K 
41: R28         Summary of Significant Accounting Policies          HTML    133K 
                (Policies)                                                       
42: R29         Goodwill and Other Intangibles Resulting From       HTML     98K 
                Business Acquisitions (Tables)                                   
43: R30         Debt (Tables)                                       HTML     65K 
44: R31         Financial Instruments (Tables)                      HTML     64K 
45: R32         Pension and Other Postretirement Benefits (Tables)  HTML    268K 
46: R33         Commitments and Leases (Tables)                     HTML    106K 
47: R34         Contingencies (Tables)                              HTML     44K 
48: R35         Fair Value Measurements (Tables)                    HTML     72K 
49: R36         Net Income Per Common Share (Tables)                HTML     51K 
50: R37         Supplemental Equity and Comprehensive Income        HTML     75K 
                Information (Tables)                                             
51: R38         Long-Term Incentive Compensation (Tables)           HTML     91K 
52: R39         Cost Reduction Actions (Tables)                     HTML     87K 
53: R40         Taxes Based on Income (Tables)                      HTML    137K 
54: R41         Segment and Disaggregated Revenue Information       HTML    161K 
                (Tables)                                                         
55: R42         Supplemental Financial Information (Tables)         HTML     98K 
56: R43         Summary of Significant Accounting Policies          HTML     59K 
                (Details)                                                        
57: R44         Business Acquisitions (Details)                     HTML     53K 
58: R45         GOODWILL AND OTHER INTANGIBLES RESULTING FROM       HTML     55K 
                BUSINESS ACQUISITIONS - Goodwill Rollforward                     
                (Details)                                                        
59: R46         GOODWILL AND OTHER INTANGIBLES RESULTING FROM       HTML     53K 
                BUSINESS ACQUISITIONS - Narrative (Details)                      
60: R47         GOODWILL AND OTHER INTANGIBLES RESULTING FROM       HTML     48K 
                BUSINESS ACQUISITIONS - Schedule of the Amounts                  
                and Useful Lives of Finite-Lived Intangible Assets               
                (Details)                                                        
61: R48         GOODWILL AND OTHER INTANGIBLES RESULTING FROM       HTML     54K 
                BUSINESS ACQUISITIONS - Schedule of Finite-Lived                 
                Intangible Assets (Details)                                      
62: R49         GOODWILL AND OTHER INTANGIBLES RESULTING FROM       HTML     48K 
                BUSINESS ACQUISITIONS - Expected Amortization                    
                (Details)                                                        
63: R50         DEBT - Short-Term Borrowings (Details)              HTML     50K 
64: R51         DEBT - Short-Term Credit Facilities (Details)       HTML     57K 
65: R52         DEBT - Long-Term Borrowings (Details)               HTML     66K 
66: R53         DEBT - Schedule of Long-Term Debt, Including its    HTML     78K 
                Respective Interest Rates, at Year-End (Details)                 
67: R54         DEBT - Schedule of Maturities of Long-Term Debt     HTML     52K 
                (Details)                                                        
68: R55         DEBT - Other (Details)                              HTML     42K 
69: R56         FINANCIAL INSTRUMENTS - Narrative (Details)         HTML     48K 
70: R57         FINANCIAL INSTRUMENTS - Balance Sheet Locations of  HTML     58K 
                Other Derivatives, Fair Value (Details)                          
71: R58         FINANCIAL INSTRUMENTS - Net Losses Recognized in    HTML     46K 
                Income (Details)                                                 
72: R59         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     56K 
                Narrative (Details)                                              
73: R60         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     68K 
                Defined Benefit Plans (Details)                                  
74: R61         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     60K 
                Reconciliation For Assets Measure At Fair Value                  
                Using Level 3 (Details)                                          
75: R62         PENSION AND OTHER POSTRETIREMENT BENEFITS - Change  HTML     69K 
                in Projected Benefit Obligations (Details)                       
76: R63         PENSION AND OTHER POSTRETIREMENT BENEFITS - Change  HTML     63K 
                in Plan Assets (Details)                                         
77: R64         PENSION AND OTHER POSTRETIREMENT BENEFITS - Funded  HTML     60K 
                Status of the Plan (Details)                                     
78: R65         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     47K 
                Pre-tax Amount Recognized in Accumulated Other                   
                Comprehensive Loss (Details)                                     
79: R66         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     56K 
                Pre-tax Amount Recognized in Other Comprehensive                 
                Loss (Income) (Details)                                          
80: R67         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     70K 
                Components of Net Periodic Benefit Cost (Details)                
81: R68         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     50K 
                Weighted-Average Assumptions for Determining Net                 
                Periodic Cost (Details)                                          
82: R69         PENSION AND OTHER POSTRETIREMENT BENEFITS - Future  HTML     52K 
                Benefit Payments (Details)                                       
83: R70         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     56K 
                Postretirement Health Benefits, Defined                          
                Contribution and Other Retirement Plans (Details)                
84: R71         COMMITMENTS AND LEASES - Supplemental Cost          HTML     37K 
                Information Related to Leases (Details)                          
85: R72         COMMITMENTS AND LEASES - Supplemental Balance       HTML     70K 
                Sheet Information Related to Leases (Details)                    
86: R73         COMMITMENTS AND LEASES - Supplemental Cash Flow     HTML     40K 
                Information Related to Leases (Details)                          
87: R74         COMMITMENTS AND LEASES - Schedule of Weighted       HTML     46K 
                Average Remaining Lease Term and Discount Rate                   
                Information (Details)                                            
88: R75         COMMITMENTS AND LEASES - Schedule of Maturities of  HTML     75K 
                Lease Liabilities (Details)                                      
89: R76         CONTINGENCIES - Narrative (Details)                 HTML     58K 
90: R77         CONTINGENCIES - Activity (Details)                  HTML     46K 
91: R78         FAIR VALUE MEASUREMENTS - Recurring Fair Value      HTML     81K 
                Measurements (Details)                                           
92: R79         FAIR VALUE MEASUREMENTS - Narrative (Details)       HTML     52K 
93: R80         Net Income Per Common Share (Details)               HTML     71K 
94: R81         SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME        HTML     65K 
                INFORMATION - Narrative (Details)                                
95: R82         SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME        HTML     65K 
                INFORMATION - Change in Accumulated Other                        
                Comprehensive Loss (Details)                                     
96: R83         SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME        HTML     54K 
                INFORMATION - Income Tax (Benefit) Expense                       
                Allocated to Each Component of Other Comprehensive               
                loss (Details)                                                   
97: R84         LONG-TERM INCENTIVE COMPENSATION - Narrative        HTML    140K 
                (Details)                                                        
98: R85         LONG-TERM INCENTIVE COMPENSATION - Stock-Based      HTML     40K 
                Compensation Expense and the Related Recognized                  
                Tax Benefit (Details)                                            
99: R86         LONG-TERM INCENTIVE COMPENSATION - Stock Option     HTML     77K 
                Information (Details)                                            
100: R87         LONG-TERM INCENTIVE COMPENSATION - Number of        HTML     80K  
                Awards, Weighted-average Grant-date Fair Value                   
                (Details)                                                        
101: R88         COST REDUCTION ACTIONS - Narrative (Details)        HTML     50K  
102: R89         COST REDUCTION ACTIONS - Restructuring Charges and  HTML     62K  
                Payments (Details)                                               
103: R90         COST REDUCTION ACTIONS - Restructuring Charges by   HTML     48K  
                Reportable Segment and Corporate (Details)                       
104: R91         TAXES BASED ON INCOME - Schedule of Taxes Based on  HTML     63K  
                Income (Details)                                                 
105: R92         TAXES BASED ON INCOME - Increase (Decrease) in      HTML     72K  
                Taxes (Details)                                                  
106: R93         TAXES BASED ON INCOME - Income (Loss) from          HTML     45K  
                Continuing Operations before Taxes (Details)                     
107: R94         TAXES BASED ON INCOME - Narrative (Details)         HTML     65K  
108: R95         TAXES BASED ON INCOME - Schedule of Components of   HTML     72K  
                the Temporary Differences (Details)                              
109: R96         TAXES BASED ON INCOME - Net Operating Loss and Tax  HTML     60K  
                Carryforwards (Details)                                          
110: R97         TAXES BASED ON INCOME - Unrecognized Tax Benefits   HTML     44K  
                (Details)                                                        
111: R98         TAXES BASED ON INCOME - Reconciliation of           HTML     49K  
                Unrecognized Tax Benefits (Details)                              
112: R99         SEGMENT AND DISAGGREGATED REVENUE INFORMATION -     HTML     69K  
                Net Sales to Unaffiliated Customers (Details)                    
113: R100        SEGMENT AND DISAGGREGATED REVENUE INFORMATION -     HTML     53K  
                Narrative (Details)                                              
114: R101        SEGMENT AND DISAGGREGATED REVENUE INFORMATION -     HTML     51K  
                Material Group Revenue By Product (Details)                      
115: R102        SEGMENT AND DISAGGREGATED REVENUE INFORMATION -     HTML     75K  
                Additional Financial Information by Reportable                   
                Segment (Details)                                                
116: R103        SEGMENT AND DISAGGREGATED REVENUE INFORMATION -     HTML     66K  
                Other Expense (Income), Net by Type (Details)                    
117: R104        SEGMENT AND DISAGGREGATED REVENUE INFORMATION -     HTML     45K  
                Property, Plant and Equipment (Details)                          
118: R105        SUPPLEMENTAL FINANCIAL INFORMATION - Inventories    HTML     45K  
                (Details)                                                        
119: R106        SUPPLEMENTAL FINANCIAL INFORMATION - Property,      HTML     53K  
                Plant and Equipment, Net (Details)                               
120: R107        SUPPLEMENTAL FINANCIAL INFORMATION - Software       HTML     45K  
                (Details)                                                        
121: R108        SUPPLEMENTAL FINANCIAL INFORMATION - Allowance of   HTML     46K  
                credit losses (Details)                                          
122: R109        SUPPLEMENTAL FINANCIAL INFORMATION - Research and   HTML     54K  
                Development, Supplemental Cash Flow Information                  
                and Deferred Revenue (Details)                                   
123: R110        SUPPLEMENTAL FINANCIAL INFORMATION - Narrative      HTML     42K  
                (Details)                                                        
125: XML         IDEA XML File -- Filing Summary                      XML    240K  
128: XML         XBRL Instance -- avy-20231230_htm                    XML   3.58M  
124: EXCEL       IDEA Workbook of Financial Report Info              XLSX    244K  
10: EX-101.CAL  XBRL Calculations -- avy-20231230_cal                XML    275K 
11: EX-101.DEF  XBRL Definitions -- avy-20231230_def                 XML   1.11M 
12: EX-101.LAB  XBRL Labels -- avy-20231230_lab                      XML   2.96M 
13: EX-101.PRE  XBRL Presentations -- avy-20231230_pre               XML   1.82M 
 9: EX-101.SCH  XBRL Schema -- avy-20231230                          XSD    265K 
126: JSON        XBRL Instance as JSON Data -- MetaLinks              772±  1.19M  
127: ZIP         XBRL Zipped Folder -- 0000008818-24-000003-xbrl      Zip    722K  


‘EX-31.2’   —   Certification — §302 – SOA’02


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Exhibit 31.2
CERTIFICATION OF CHIEF FINANCIAL OFFICER
PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
CERTIFICATION
I, Gregory S. Lovins, certify that:
1.I have reviewed this annual report on Form 10-K of Avery Dennison Corporation;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
/s/ Gregory S. Lovins
Gregory S. Lovins
Senior Vice President and
Chief Financial Officer
February 21, 2024


Dates Referenced Herein

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/21/24None on these Dates
For Period end:12/30/23
 List all Filings 


31 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/01/23  Avery Dennison Corp.              10-Q        7/01/23   73:5.8M
 5/02/23  Avery Dennison Corp.              10-Q        4/01/23   70:5.3M
 3/15/23  Avery Dennison Corp.              8-K:1,2,9   3/15/23   13:378K                                   Donnelley … Solutions/FA
 2/27/23  Avery Dennison Corp.              8-K:5,9     2/23/23   13:615K
 1/30/23  Avery Dennison Corp.              8-K:1,2,9   1/24/23   11:899K                                   Donnelley … Solutions/FA
 5/03/22  Avery Dennison Corp.              10-Q        4/02/22   67:5.1M
 8/18/21  Avery Dennison Corp.              8-K:1,2,9   8/18/21   14:564K                                   Donnelley … Solutions/FA
 7/30/21  Avery Dennison Corp.              8-K:1,9     7/27/21   12:806K                                   Donnelley … Solutions/FA
 2/25/21  Avery Dennison Corp.              10-K        1/02/21  124:16M                                    Donnelley … Solutions/FA
 5/01/20  Avery Dennison Corp.              10-Q        3/28/20   70:6.6M                                   Toppan Merrill/FA
 3/11/20  Avery Dennison Corp.              8-K:1,2,9   3/11/20   13:484K                                   Toppan Merrill/FA
12/06/18  Avery Dennison Corp.              8-K:1,2,9  12/06/18    3:273K                                   Toppan Merrill/FA
 8/01/17  Avery Dennison Corp.              10-Q        7/01/17   79:7M                                     Toppan Merrill/FA
 3/10/17  Avery Dennison Corp.              DEF 14A     4/27/17    1:6.1M                                   Toppan Merrill-FA
 3/03/17  Avery Dennison Corp.              8-K:1,2,9   3/03/17    3:276K                                   Toppan Merrill/FA
 5/03/16  Avery Dennison Corp.              10-Q        4/02/16   81:5.9M                                   Toppan Merrill/FA
 2/25/15  Avery Dennison Corp.              10-K        1/03/15  126:35M                                    Toppan Merrill-FA
 2/26/14  Avery Dennison Corp.              10-K       12/28/13  128:21M                                    Toppan Merrill-FA
 5/07/13  Avery Dennison Corp.              10-Q        3/30/13   81:11M                                    Toppan Merrill/FA
 4/08/13  Avery Dennison Corp.              8-K:1,9     4/08/13    4:502K                                   Toppan Merrill/FA
 3/09/12  Avery Dennison Corp.              DEF 14A     4/26/12    1:2.1M                                   Donnelley … Solutions/FA
 5/10/11  Avery Dennison Corp.              10-Q        4/02/11   41:2.5M                                   Donnelley … Solutions/FA
 4/29/11  Avery Dennison Corp.              8-K:5,9     4/28/11    3:150K                                   Donnelley Fi… Express/FA
 8/12/09  Avery Dennison Corp.              10-Q        7/04/09   12:658K                                   Donnelley … Solutions/FA
11/20/07  Avery Dennison Corp.              8-K:1,2,8,911/20/07    7:1.4M                                   Bowne of Los Ang… Inc/FA
 1/16/03  Avery Dennison Corp.              8-K:5,7     1/14/03    6:254K                                   Bowne of Los Ang… Inc/FA
 3/04/02  Avery Dennison Corp.              10-K405    12/29/01   12:312K                                   Donnelley … Solutions/FA
 7/03/01  Avery Dennison Corp.              S-3                    6:321K                                   Bowne of Los Ang… Inc/FA
 3/30/00  Avery Dennison Corp.              10-K        1/01/00   18:390K                                   Toppan Merrill/FA
 5/12/95  Avery Dennison Corp.              8-K:7       5/12/95    6:227K                                   Donnelley Fin’l S… 05/FA
 3/30/95  Avery Dennison Corp.              10-K       12/31/94   15:529K                                   Donnelley Fin’l S… 05/FA
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