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v3.23.1

BUSINESS SEGMENTS (Tables) | 3 Months Ended
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Apr. 01, 2023
Segment Reporting [Abstract] |
Reconciliation of Revenue from Segments to Consolidated |
|  |  | Year-to-Date
(Millions of Dollars) |  |  |  |  | 2023 |  | 2022
Net Sales |  |  |  |  |  |  |
Tools & Outdoor |  |  |  |  | $ | 3,315.4 |  |  | $ | 3,801.2 |
Industrial |  |  |  |  | 616.4 |  |  | 646.6 |
Corporate Overhead |  |  |  |  | — |  |  | 0.2 |
Consolidated |  |  |  |  | $ | 3,931.8 |  |  | $ | 4,448.0 |
Segment Profit |  |  |  |  |  |  |
Tools & Outdoor |  |  |  |  | $ | 18.7 |  |  | $ | 378.5 |
Industrial |  |  |  |  | 67.4 |  |  | 41.3 |
Segment Profit |  |  |  |  | 86.1 |  |  | 419.8 |
Corporate Overhead |  |  |  |  | (75.7) |  |  | (74.7) |
Other, net |  |  |  |  | (63.7) |  |  | (62.0) |
Loss on sales of businesses |  |  |  |  | (7.6) |  |  | — |
Restructuring charges |  |  |  |  | (12.1) |  |  | (52.7) |
Interest income |  |  |  |  | 39.8 |  |  | 2.8 |
Interest expense |  |  |  |  | (130.9) |  |  | (54.7) |
(Loss) earnings from continuing operations before income taxes |  |  |  |  | $ | (164.1) |  |  | $ | 178.5 |
Business Segments | The following table is a further disaggregation of the Industrial segment revenue for the three months ended April 1, 2023 and April 2, 2022:
|  |  | Year-to-Date
(Millions of Dollars) |  |  |  |  | 2023 |  | 2022
Engineered Fastening |  |  |  |  | $ | 476.3 |  |  | $ | 480.1 |
Infrastructure |  |  |  |  | 140.1 |  |  | 166.5 |
Industrial |  |  |  |  | $ | 616.4 |  |  | $ | 646.6 |
Summary of Total Assets by Segment | The following table is a summary of total assets by segment as of April 1, 2023 and December 31, 2022:
(Millions of Dollars) | April 1, 2023 |  | December 31, 2022
Tools & Outdoor | $ | 20,252.4 |  |  | $ | 20,202.0 |
Industrial | 5,283.0 |  |  | 5,284.8 |
| 25,535.4 |  |  | 25,486.8 |
Corporate assets | (463.7) |  |  | (523.5) |
Consolidated | $ | 25,071.7 |  |  | $ | 24,963.3 |
Summary of Net Sales by Geographic Area | The following table is a summary of net sales by geographic area for the three months ended April 1, 2023 and April 2, 2022:
|  |  | Year-to-Date
(Millions of Dollars) |  |  |  |  | 2023 |  | 2022
United States |  |  |  |  | $ | 2,422.4 |  |  | $ | 2,744.5 |
Canada |  |  |  |  | 218.3 |  |  | 236.6 |
Other Americas |  |  |  |  | 193.4 |  |  | 198.3 |
France |  |  |  |  | 148.3 |  |  | 140.0 |
Other Europe |  |  |  |  | 635.4 |  |  | 773.5 |
Asia |  |  |  |  | 314.0 |  |  | 355.1 |
Consolidated |  |  |  |  | $ | 3,931.8 |  |  | $ | 4,448.0 |

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- 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
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