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OTHER COSTS AND EXPENSES | 6 Months Ended
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Jun. 27, 2020
Other Income and Expenses [Abstract] |
OTHER COSTS AND EXPENSES | OTHER COSTS AND EXPENSESDuring the second quarter of 2020, the Company recognized a pre-tax charge of approximately $110.0 million related to the recently initiated comprehensive cost reduction and efficiency program in response to the impact of the COVID-19 pandemic. The charge was primarily related to costs associated with a voluntary retirement program as well as restructuring costs related to headcount actions, as further discussed in Note O, Restructuring Charges. Other, net is primarily comprised of intangible asset amortization expense, currency-related gains or losses, environmental remediation expense, acquisition-related transaction and consulting costs, and certain pension gains or losses. During the three and six months ended June 27, 2020, Other, net included charges of $19.8 million and $38.7 million, respectively, primarily related to acquisition-related transaction costs and a special termination benefit charge associated with the voluntary retirement program. During the three and six months ended June 29, 2019, Other, net included $4.5 million and $20.6 million of acquisition-related transaction and consulting costs, respectively.

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- Definition Tabular disclosure of each detailed component of other operating costs and expenses that are applicable to sales and revenues, but not included in the cost of sales in the income statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 + Details
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