v3.23.3
SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)
9 Months Ended
Oct. 01, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Supplemental Balance Sheet Information Supplemental balance sheet information related to leases were as follows:
LeasesClassificationOctober 1, 2023December 31, 2022
Assets
Operating lease ROU assetsOther non-current assets$315,524 $326,472 
Finance lease ROU assets, at costProperty, plant and equipment, gross86,129 86,703 
Accumulated amortizationAccumulated depreciation(18,570)(14,543)
Finance lease ROU assets, netProperty, plant and equipment, net67,559 72,160 
Total leased assets$383,083 $398,632 
Liabilities
Current
OperatingAccrued liabilities$34,320 $31,787 
FinanceCurrent portion of long-term debt4,659 4,285 
Non-current
OperatingOther long-term liabilities283,967 294,849 
FinanceLong-term debt68,037 69,194 
Total lease liabilities$390,983 $400,115 
The components of certain asset accounts included within our Consolidated Balance Sheets are as follows:
October 1, 2023December 31, 2022
Inventories:
Raw materials$469,455 $372,612 
Goods in process184,397 137,298 
Finished goods969,620 855,217 
Inventories at First In First Out1,623,472 1,365,127 
Adjustment to Last In First Out(275,652)(192,008)
Total inventories$1,347,820 $1,173,119 
Prepaid expenses and other:
Prepaid expenses$133,265 $143,888 
Other current assets110,352 128,307 
Total prepaid expenses and other$243,617 $272,195 
Property, plant and equipment:
Land$159,701 $155,963 
Buildings1,618,136 1,545,053 
Machinery and equipment3,836,925 3,592,251 
Construction in progress618,631 416,220 
Property, plant and equipment, gross6,233,393 5,709,487 
Accumulated depreciation(3,077,329)(2,939,785)
Property, plant and equipment, net$3,156,064 $2,769,702 
Other non-current assets:
Pension$42,754 $53,495 
Capitalized software, net345,198320,034 
Operating lease ROU assets315,524 326,472 
Investments in unconsolidated affiliates126,325 133,029 
Other non-current assets120,594 111,959 
Total other non-current assets$950,395 $944,989 
The components of certain liability and stockholders’ equity accounts included within our Consolidated Balance Sheets are as follows:
October 1, 2023December 31, 2022
Accounts payable:
Accounts payable—trade$675,389 $636,472 
Supplier finance program obligations149,533 105,293 
Other260,094 228,793 
Total accounts payable$1,085,016 $970,558 
Accrued liabilities:
Payroll, compensation and benefits$245,975 $293,865 
Advertising, promotion and product allowances384,872 337,024 
Operating lease liabilities34,320 31,787 
Other303,759 169,842 
Total accrued liabilities$968,926 $832,518 
Other long-term liabilities:
Post-retirement benefits liabilities$77,995 $147,174 
Pension benefits liabilities27,515 27,696 
Operating lease liabilities283,967 294,849 
Other252,324 250,023 
Total other long-term liabilities$641,801 $719,742 
Accumulated other comprehensive loss:
Foreign currency translation adjustments$(101,489)$(110,364)
Pension and post-retirement benefit plans, net of tax(131,993)(118,254)
Cash flow hedges, net of tax(17,165)(23,715)
Total accumulated other comprehensive loss$(250,647)$(252,333)