XML 73 R48.htm IDEA: XBRL DOCUMENT
v3.22.4

BUSINESS SEGMENTS AND GEOGRAPHIC AREAS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Reconciliation of Revenue from Segments to Consolidated | BUSINESS SEGMENTS
(Millions of Dollars) | 2022 |  | 2021 |  | 2020
Net Sales |  |  |  |  |
Tools & Outdoor | $ | 14,423.7 |  |  | $ | 12,817.4 |  |  | $ | 10,329.7 |
Industrial | 2,523.4 |  |  | 2,463.1 |  |  | 2,352.7 |
Corporate Overhead & Other | 0.3 |  |  | 0.8 |  |  | 67.6 |
Consolidated | $ | 16,947.4 |  |  | $ | 15,281.3 |  |  | $ | 12,750.0 |
Segment Profit |  |  |  |  |
Tools & Outdoor | $ | 971.9 |  |  | $ | 1,985.4 |  |  | $ | 1,820.3 |
Industrial | 236.2 |  |  | 256.6 |  |  | 220.6 |
Segment Profit | 1,208.1 |  |  | 2,242.0 |  |  | 2,040.9 |
Corporate Overhead & Other | (294.0) |  |  | (342.9) |  |  | (302.1) |
Other, net | (274.8) |  |  | (189.5) |  |  | (215.7) |
Loss on sales of businesses | (8.4) |  |  | (0.6) |  |  | (13.5) |
Restructuring charges | (140.8) |  |  | (14.5) |  |  | (73.8) |
Gain on equity method investment | — |  |  | 68.0 |  |  | — |
Asset impairment charge | (168.4) |  |  | — |  |  | — |
Loss on debt extinguishment | — |  |  | — |  |  | (46.9) |
Interest income | 54.7 |  |  | 9.8 |  |  | 17.5 |
Interest expense | (338.5) |  |  | (185.4) |  |  | (222.7) |
Earnings from continuing operations before income taxes and equity interest | $ | 37.9 |  |  | $ | 1,586.9 |  |  | $ | 1,183.7 |
Capital and Software Expenditures |  |  |  |  |
Tools & Outdoor | $ | 438.5 |  |  | $ | 375.8 |  |  | $ | 228.6 |
Industrial | 85.6 |  |  | 123.3 |  |  | 102.2 |
Corporate Overhead & Other | — |  |  | — |  |  | 0.2 |
Discontinued operations | 6.3 |  |  | 20.0 |  |  | 17.1 |
Consolidated | $ | 530.4 |  |  | $ | 519.1 |  |  | $ | 348.1 |
Depreciation and Amortization |  |  |  |  |
Tools & Outdoor | $ | 387.6 |  |  | $ | 312.9 |  |  | $ | 311.2 |
Industrial | 184.2 |  |  | 201.4 |  |  | 200.0 |
Corporate Overhead & Other | — |  |  | — |  |  | 0.3 |
Discontinued operations | 0.4 |  |  | 62.8 |  |  | 66.6 |
Consolidated | $ | 572.2 |  |  | $ | 577.1 |  |  | $ | 578.1 |
Segment Assets | 2022 |  | 2021
Tools & Outdoor | $ | 20,202.0 |  |  | $ | 19,537.9 |
Industrial | 5,284.8 |  |  | 5,627.8 |
| 25,486.8 |  |  | 25,165.7 |
Assets held for sale | — |  |  | 3,505.4 |
Corporate assets | (523.5) |  |  | (491.1) |
Consolidated | $ | 24,963.3 |  |  | $ | 28,180.0 |
Business Segments | The following table is a further disaggregation of the Industrial segment revenue for the years ended December 31, 2022, January 1, 2022 and January 2, 2021:
(Millions of Dollars) | 2022 |  | 2021 |  | 2020
Engineered Fastening | $ | 1,874.8 |  |  | $ | 1,842.1 |  |  | $ | 1,717.8 |
Infrastructure | 648.6 |  |  | 621.0 |  |  | 634.9 |
Industrial | $ | 2,523.4 |  |  | $ | 2,463.1 |  |  | $ | 2,352.7 |
Geographic Areas | GEOGRAPHIC AREAS
(Millions of Dollars) | 2022 |  | 2021 |  | 2020
Net Sales |  |  |  |  |
United States | $ | 10,733.1 |  |  | $ | 9,073.1 |  |  | $ | 7,828.3 |
Canada | 835.7 |  |  | 696.0 |  |  | 575.0 |
Other Americas | 839.4 |  |  | 833.6 |  |  | 587.9 |
France | 489.8 |  |  | 488.8 |  |  | 393.0 |
Other Europe | 2,664.9 |  |  | 2,847.2 |  |  | 2,288.7 |
Asia | 1,384.5 |  |  | 1,342.6 |  |  | 1,077.1 |
Consolidated | $ | 16,947.4 |  |  | $ | 15,281.3 |  |  | $ | 12,750.0 |
| December 31, 2022 |  | January 1, 2022
Property, Plant & Equipment, net |  |  |
United States | $ | 1,465.8 |  |  | $ | 1,433.6 |
Canada | 7.4 |  |  | 21.6 |
Other Americas | 249.8 |  |  | 178.1 |
France | 30.7 |  |  | 36.6 |
Other Europe | 272.9 |  |  | 318.9 |
Asia | 326.5 |  |  | 348.0 |
Consolidated | $ | 2,353.1 |  |  | $ | 2,336.8 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration