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RESTRUCTURING CHARGES AND OTHER COSTS | 3 Months Ended
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Apr. 01, 2023
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGES AND OTHER COSTS | RESTRUCTURING CHARGES AND OTHER COSTS A summary of the restructuring reserve activity from December 31, 2022 to April 1, 2023 is as follows:
(Millions of Dollars) | December 31, 2022 |  | Net Additions |  | Usage |  | Currency |  | April 1, 2023
Severance and related costs | $ | 57.0 |  |  | $ | 7.3 |  |  | $ | (25.8) |  |  | $ | (0.3) |  |  | $ | 38.2 |
Facility closures and asset impairments | 5.3 |  |  | 4.8 |  |  | (6.3) |  |  | — |  |  | 3.8 |
Total | $ | 62.3 |  |  | $ | 12.1 |  |  | $ | (32.1) |  |  | $ | (0.3) |  |  | $ | 42.0 |
For the three months ended April 1, 2023, the Company recognized net restructuring charges of $12.1 million, primarily related to severance and facility closures. The majority of the $42.0 million of reserves remaining as of April 1, 2023 is expected to be utilized within the next 12 months. Segments: The $12 million of net restructuring charges for the three months ended April 1, 2023 includes: $7 million in the Tools & Outdoor segment; $3 million in the Industrial segment; and $2 million in Corporate. Other, net is primarily comprised of intangible asset amortization expense, currency-related gains or losses, environmental remediation expense, deal costs and related consulting costs, and certain pension gains or losses. Other, net amounted to $63.7 million and $62.0 million in the first three months of 2023 and 2022, respectively.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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