XML 39 R14.htm IDEA: XBRL DOCUMENT
v3.22.4

INVENTORIES, NET | 12 Months Ended
--- | ---
Dec. 31, 2022
Inventory Disclosure [Abstract] |
INVENTORIES, NET | INVENTORIES, NET
(Millions of Dollars) | December 31, 2022 |  | January 1, 2022
Finished products | $ | 3,460.8 |  |  | $ | 3,486.2 |
Work in process | 338.7 |  |  | 394.8 |
Raw materials | 2,061.6 |  |  | 1,538.9 |
Total | $ | 5,861.1 |  |  | $ | 5,419.9 |
Net inventories in the amount of $3.4 billion at December 31, 2022 and $2.6 billion at January 1, 2022 were valued at the lower of LIFO cost or market. If the LIFO method had not been used, inventories would have been higher than reported by $486.9 million at December 31, 2022 and $215.6 million at January 1, 2022.

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

X
- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration