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  "documentTitle": "Avery Dennison Corporation (AVY)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2020-11-10 00:00:00",
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      "kind": "callout",
      "text": "Credit Losses: \"In the first quarter of 2020, we adopted, using the modified retrospective approach, amended accounting guidance that required credit losses on financial instruments...\"",
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      "text": "Avery recently updated its accounting for credit losses in Q1 2020, an opportune time as COVID-19 ravaged businesses across the globe. It has also subtly changed the wording on its cash flow statement from \"doubtful accounts\" to \"credit losses\".",
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      "text": "Avery recently updated its accounting for credit losses in Q1 2020, an opportune time as COVID-19 ravaged businesses across the globe. It has also subtly changed the wording on its cash flow statement from \"doubtful accounts\" to \"credit losses\".",
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      "text": "\"In the first quarter of 2020, we adopted, using the modified retrospective approach, amended accounting guidance that required credit losses on financial instruments, including trade receivables, to be measured based on an expected credit loss model instead of the incurred loss model. The expected credit loss model requires us to consider forward-looking information to estimate our allowance for credit losses. Our adoption of this guidance did not have a material impact on our financial position, results of operations or cash flows.\" — 2020 10-Q, p. 6",
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      "text": "CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Three Months Ended March 28, 2020, March 30, 2019)",
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