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