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BUSINESS SEGMENTS AND GEOGRAPHIC AREAS (Tables) | 12 Months Ended
--- | ---
Jan. 02, 2021
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | BUSINESS SEGMENTS
(Millions of Dollars) | 2020 |  | 2019 |  | 2018
Net Sales |  |  |  |  |
Tools & Storage | $ | 10,329.7 |  |  | $ | 10,062.1 |  |  | $ | 9,814.0 |
Industrial | 2,352.7 |  |  | 2,434.7 |  |  | 2,187.8 |
Security | 1,852.2 |  |  | 1,945.4 |  |  | 1,980.6 |
Consolidated | $ | 14,534.6 |  |  | $ | 14,442.2 |  |  | $ | 13,982.4 |
Segment Profit |  |  |  |  |
Tools & Storage | $ | 1,841.7 |  |  | $ | 1,533.3 |  |  | $ | 1,393.1 |
Industrial | 225.6 |  |  | 334.1 |  |  | 319.8 |
Security | 108.7 |  |  | 126.6 |  |  | 169.3 |
Segment Profit | 2,176.0 |  |  | 1,994.0 |  |  | 1,882.2 |
Corporate overhead | (297.7) |  |  | (229.5) |  |  | (202.8) |
Other, net | (262.8) |  |  | (249.1) |  |  | (287.0) |
(Loss) gain on sales of businesses | (13.5) |  |  | 17.0 |  |  | (0.8) |
Restructuring charges | (83.0) |  |  | (154.1) |  |  | (160.3) |
Loss on debt extinguishments | (46.9) |  |  | (17.9) |  |  | — |
Interest income | 18.0 |  |  | 53.9 |  |  | 68.7 |
Interest expense | (223.1) |  |  | (284.3) |  |  | (277.9) |
Earnings before income taxes and equity interest | $ | 1,267.0 |  |  | $ | 1,130.0 |  |  | $ | 1,022.1 |
Capital and Software Expenditures |  |  |  |  |
Tools & Storage | $ | 225.6 |  |  | $ | 297.2 |  |  | $ | 353.7 |
Industrial | 101.6 |  |  | 89.6 |  |  | 95.8 |
Security | 20.9 |  |  | 37.9 |  |  | 42.6 |
Consolidated | $ | 348.1 |  |  | $ | 424.7 |  |  | $ | 492.1 |
Depreciation and Amortization |  |  |  |  |
Tools & Storage | $ | 308.5 |  |  | $ | 327.8 |  |  | $ | 300.1 |
Industrial | 199.4 |  |  | 159.3 |  |  | 125.9 |
Security | 70.2 |  |  | 73.1 |  |  | 80.5 |
Consolidated | $ | 578.1 |  |  | $ | 560.2 |  |  | $ | 506.5 |
Segment Assets |  |  |  |  |
Tools & Storage | $ | 14,294.9 |  |  | $ | 13,642.4 |  |  | $ | 13,122.6 |
Industrial | 5,621.4 |  |  | 4,207.0 |  |  | 3,620.5 |
Security | 3,493.5 |  |  | 3,448.6 |  |  | 3,413.6 |
| 23,409.8 |  |  | 21,298.0 |  |  | 20,156.7 |
Corporate assets | 156.5 |  |  | (701.4) |  |  | (748.7) |
Consolidated | $ | 23,566.3 |  |  | $ | 20,596.6 |  |  | $ | 19,408.0 |
DISAGGREGATION OF REVENUE | The following table provides the percent of total segment revenue recognized over time for the Industrial and Security segments for the years ended January 2, 2021, December 28, 2019 and December 29, 2018:
| 2020 |  | 2019 |  | 2018
Industrial | 9.2 | % |  | 10.9 | % |  | 11.9 | %
Security | 44.4 | % |  | 45.8 | % |  | 44.9 | %
The following table is a further disaggregation of the Industrial segment revenue for the years ended January 2, 2021, December 28, 2019 and December 29, 2018:
(Millions of Dollars) | 2020 |  | 2019 |  | 2018
Engineered Fastening | $ | 1,717.8 |  |  | $ | 1,738.5 |  |  | $ | 1,766.6 |
Infrastructure | 634.9 |  |  | 696.2 |  |  | 421.2 |
Industrial | $ | 2,352.7 |  |  | $ | 2,434.7 |  |  | $ | 2,187.8 |
GEOGRAPHIC AREAS | GEOGRAPHIC AREAS
(Millions of Dollars) | 2020 |  | 2019 |  | 2018
Net Sales |  |  |  |  |
United States | $ | 8,800.5 |  |  | $ | 8,472.1 |  |  | $ | 7,700.3 |
Canada | 687.0 |  |  | 609.9 |  |  | 628.3 |
Other Americas | 595.5 |  |  | 717.9 |  |  | 801.5 |
France | 581.3 |  |  | 610.2 |  |  | 627.8 |
Other Europe | 2,791.0 |  |  | 2,870.8 |  |  | 2,989.9 |
Asia | 1,079.3 |  |  | 1,161.3 |  |  | 1,234.6 |
Consolidated | $ | 14,534.6 |  |  | $ | 14,442.2 |  |  | $ | 13,982.4 |
Property, Plant & Equipment, net |  |  |  |  |
United States | $ | 1,156.7 |  |  | $ | 1,046.8 |  |  | $ | 1,018.3 |
Canada | 25.5 |  |  | 27.4 |  |  | 25.5 |
Other Americas | 121.0 |  |  | 117.9 |  |  | 112.7 |
France | 54.9 |  |  | 57.3 |  |  | 63.9 |
Other Europe | 349.2 |  |  | 352.3 |  |  | 356.9 |
Asia | 346.5 |  |  | 357.8 |  |  | 337.9 |
Consolidated | $ | 2,053.8 |  |  | $ | 1,959.5 |  |  | $ | 1,915.2 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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