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BUSINESS SEGMENTS AND GEOGRAPHIC AREAS (Tables) | 12 Months Ended
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Jan. 01, 2022
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | BUSINESS SEGMENTS
(Millions of Dollars) | 2021 |  | 2020 |  | 2019
Net Sales |  |  |  |  |
Tools & Storage | $ | 12,817.4 |  |  | $ | 10,329.7 |  |  | $ | 10,062.1 |
Industrial | 2,463.1 |  |  | 2,352.7 |  |  | 2,434.7 |
Corporate Overhead & Other | 336.7 |  |  | 375.3 |  |  | 416.1 |
Consolidated | $ | 15,617.2 |  |  | $ | 13,057.7 |  |  | $ | 12,912.9 |
Segment Profit |  |  |  |  |
Tools & Storage | $ | 1,985.4 |  |  | $ | 1,820.3 |  |  | $ | 1,517.0 |
Industrial | 256.6 |  |  | 220.6 |  |  | 330.0 |
Segment Profit | 2,242.0 |  |  | 2,040.9 |  |  | 1,847.0 |
Corporate Overhead & Other | (288.2) |  |  | (264.0) |  |  | (181.9) |
Other, net | (190.1) |  |  | (217.8) |  |  | (201.1) |
(Loss) gain on sales of businesses | (0.6) |  |  | (13.5) |  |  | 17.0 |
Restructuring charges | (14.5) |  |  | (73.8) |  |  | (138.4) |
Gain on equity method investment | 68.0 |  |  | — |  |  | — |
Loss on debt extinguishments | — |  |  | (46.9) |  |  | (17.9) |
Interest income | 9.8 |  |  | 17.5 |  |  | 51.9 |
Interest expense | (185.4) |  |  | (222.6) |  |  | (282.2) |
Earnings from continuing operations before income taxes and equity interest | $ | 1,641.0 |  |  | $ | 1,219.8 |  |  | $ | 1,094.4 |
Capital and Software Expenditures |  |  |  |  |
Tools & Storage | $ | 374.8 |  |  | $ | 228.1 |  |  | $ | 300.8 |
Industrial | 123.1 |  |  | 102.1 |  |  | 90.5 |
Corporate Overhead & Other | 3.3 |  |  | 2.3 |  |  | 3.3 |
Discontinued operations | 17.9 |  |  | 15.6 |  |  | 30.1 |
Consolidated | $ | 519.1 |  |  | $ | 348.1 |  |  | $ | 424.7 |
Depreciation and Amortization |  |  |  |  |
Tools & Storage | $ | 311.8 |  |  | $ | 309.5 |  |  | $ | 330.3 |
Industrial | 201.2 |  |  | 199.6 |  |  | 159.9 |
Corporate Overhead & Other | 3.6 |  |  | 5.1 |  |  | 5.9 |
Discontinued operations | 60.5 |  |  | 63.9 |  |  | 64.1 |
Consolidated | $ | 577.1 |  |  | $ | 578.1 |  |  | $ | 560.2 |
DISAGGREGATION OF REVENUE | The following table provides the percent of total segment revenue recognized over time for the Industrial segment for the years ended January 1, 2022, January 2, 2021 and December 28, 2019:
| 2021 |  | 2020 |  | 2019
Industrial | 6.6 | % |  | 9.2 | % |  | 10.9 | %
The following table is a further disaggregation of the Industrial segment revenue for the years ended January 1, 2022, January 2, 2021 and December 28, 2019:
(Millions of Dollars) | 2021 |  | 2020 |  | 2019
Engineered Fastening | $ | 1,842.1 |  |  | $ | 1,717.8 |  |  | $ | 1,738.5 |
Infrastructure | 621.0 |  |  | 634.9 |  |  | 696.2 |
Industrial | $ | 2,463.1 |  |  | $ | 2,352.7 |  |  | $ | 2,434.7 |
GEOGRAPHIC AREAS | GEOGRAPHIC AREAS
(Millions of Dollars) | 2021 |  | 2020 |  | 2019
Net Sales |  |  |  |  |
United States | $ | 9,363.4 |  |  | $ | 8,097.1 |  |  | $ | 7,740.6 |
Canada | 737.3 |  |  | 610.5 |  |  | 529.0 |
Other Americas | 835.5 |  |  | 589.7 |  |  | 709.7 |
France | 488.8 |  |  | 393.0 |  |  | 422.0 |
Other Europe | 2,848.6 |  |  | 2,289.6 |  |  | 2,358.5 |
Asia | 1,343.6 |  |  | 1,077.8 |  |  | 1,153.1 |
Consolidated | $ | 15,617.2 |  |  | $ | 13,057.7 |  |  | $ | 12,912.9 |
| 2021 |  | 2020
Property, Plant & Equipment, net |  |  |
United States | $ | 1,443.8 |  |  | $ | 1,120.2 |
Canada | 21.7 |  |  | 24.3 |
Other Americas | 178.1 |  |  | 120.9 |
France | 36.6 |  |  | 43.1 |
Other Europe | 318.9 |  |  | 324.2 |
Asia | 348.0 |  |  | 340.4 |
Consolidated | $ | 2,347.1 |  |  | $ | 1,973.1 |

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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=123359005&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=123367319&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=123359005&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=123359005&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=123359005&loc=d3e8906-108599 + Details
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