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RESTRUCTURING CHARGES | 3 Months Ended
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Mar. 28, 2020
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGES | RESTRUCTURING CHARGES A summary of the restructuring reserve activity from December 28, 2019 to March 28, 2020 is as follows:
(Millions of Dollars) | December 28, 2019 |  | Net Additions |  | Usage |  | Currency |  | March 28, 2020
Severance and related costs | $ | 140.3 |  |  | $ | 2.9 |  |  | $ | (27.8 | ) |  | $ | 1.7 |  |  | $ | 117.1 |
Facility closures and asset impairments | 7.5 |  |  | 1.0 |  |  | (5.9 | ) |  | — |  |  | 2.6 |
Total | $ | 147.8 |  |  | $ | 3.9 |  |  | $ | (33.7 | ) |  | $ | 1.7 |  |  | $ | 119.7 |
For the three months ended March 28, 2020, the Company recognized net restructuring charges of $3.9 million, primarily related to severance costs. The majority of the $119.7 million of reserves remaining as of March 28, 2020 is expected to be utilized within the next 12 months. Segments: The $4 million of net restructuring charges for the three months ended March 28, 2020 includes: $1 million of net reversals pertaining to the Tools & Storage segment; $3 million of net charges pertaining to the Industrial segment; and $2 million of net charges pertaining to the Security segment.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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