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DIVESTITURES (Tables) | 12 Months Ended
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Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Pre Tax Losses | Following is the pre-tax (losses) income for this business for the years ended December 31, 2022, January 1, 2022 and January 2, 2021:
(Millions of Dollars) | 2022 |  | 2021 |  | 2020
Pre-tax (losses) income | $ | (2.7) |  |  | $ | (16.8) |  |  | $ | 9.1 |
Schedule of Discontinued Operations | Summarized operating results of discontinued operations are presented in the following table for each fiscal year ended:
(Millions of Dollars) | 2022 |  | 2021 |  | 2020
Net Sales | $ | 1,056.3 |  |  | $ | 1,971.4 |  |  | $ | 1,784.7 |
Cost of sales | 687.5 |  |  | 1,258.7 |  |  | 1,134.8 |
Selling, general, and administrative(1) | 308.0 |  |  | 529.2 |  |  | 510.4 |
Gain on sale of discontinued operations | 1,197.4 |  |  | — |  |  | — |
Other, net and restructuring charges | 47.3 |  |  | 59.2 |  |  | 56.2 |
Earnings from discontinued operations before income taxes | $ | 1,210.9 |  |  | $ | 124.3 |  |  | $ | 83.3 |
Income taxes on discontinued operations | 318.5 |  |  | (12.4) |  |  | 3.4 |
Net earnings from discontinued operations | $ | 892.4 |  |  | $ | 136.7 |  |  | $ | 79.9 |
(1) Includes provision for credit losses. The following table presents the significant non-cash items and capital expenditures for the discontinued operations with respect to CSS and MAS that are included in the Consolidated Statements of Cash Flows for each fiscal year ended:
(Millions of Dollars) | 2022 |  | 2021 |  | 2020
Depreciation and amortization | $ | 0.4 |  |  | $ | 62.8 |  |  | $ | 66.6 |
Capital expenditures | $ | 6.3 |  |  | $ | 20.0 |  |  | $ | 17.1 |
Stock-based compensation | $ | 17.5 |  |  | $ | 7.9 |  |  | $ | 6.1 |
As of January 1, 2022, the assets and liabilities related to CSS and MAS were classified as held for sale on the Company's Consolidated Balance Sheets. There were no assets or liabilities held for sale relating to the Oil & Gas business as of January 1, 2022. The carrying amounts of the assets and liabilities that were aggregated in assets held for sale and liabilities held for sale as of January 1, 2022 are presented in the following table:
(Millions of Dollars) | January 1, 2022
Cash and cash equivalents | $ | 145.1 |
Accounts and notes receivable, net | 513.9 |
Inventories, net | 169.4 |
Other current assets | 41.2 |
Property, plant and equipment, net | 84.3 |
Goodwill and other intangibles, net | 2,270.2 |
Other assets | 281.3 |
Total assets | $ | 3,505.4 |
Accounts payable and accrued expenses | $ | 460.4 |
Other long-term liabilities | 137.4 |
Total liabilities | $ | 597.8 |

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