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BUSINESS SEGMENTS AND GEOGRAPHIC AREAS (Tables) | 12 Months Ended
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Dec. 30, 2023
Segment Reporting [Abstract] |
Reconciliation of Revenue from Segments to Consolidated | BUSINESS SEGMENTS
(Millions of Dollars) | 2023 |  | 2022 |  | 2021
Net Sales |  |  |  |  |
Tools & Outdoor | $ | 13,367.1 |  |  | $ | 14,423.7 |  |  | $ | 12,817.4 |
Industrial | 2,414.0 |  |  | 2,523.4 |  |  | 2,463.1 |
Corporate Overhead | — |  |  | 0.3 |  |  | 0.8 |
Consolidated | $ | 15,781.1 |  |  | $ | 16,947.4 |  |  | $ | 15,281.3 |
Segment Profit |  |  |  |  |
Tools & Outdoor | $ | 687.6 |  |  | $ | 971.9 |  |  | $ | 1,985.4 |
Industrial | 266.5 |  |  | 236.2 |  |  | 256.6 |
Segment Profit | 954.1 |  |  | 1,208.1 |  |  | 2,242.0 |
Corporate Overhead | (312.2) |  |  | (294.0) |  |  | (342.9) |
Other, net | (320.1) |  |  | (274.8) |  |  | (189.5) |
Loss on sales of businesses | (10.8) |  |  | (8.4) |  |  | (0.6) |
Restructuring charges | (39.4) |  |  | (140.8) |  |  | (14.5) |
Gain on equity method investment | — |  |  | — |  |  | 68.0 |
Asset impairment charges | (274.8) |  |  | (168.4) |  |  | — |
Interest income | 186.9 |  |  | 54.7 |  |  | 9.8 |
Interest expense | (559.4) |  |  | (338.5) |  |  | (185.4) |
(Loss) earnings from continuing operations before income taxes and equity interest | $ | (375.7) |  |  | $ | 37.9 |  |  | $ | 1,586.9 |
Capital and Software Expenditures |  |  |  |  |
Tools & Outdoor | $ | 264.7 |  |  | $ | 438.5 |  |  | $ | 375.8 |
Industrial | 74.0 |  |  | 85.6 |  |  | 123.3 |
Discontinued operations | — |  |  | 6.3 |  |  | 20.0 |
Consolidated | $ | 338.7 |  |  | $ | 530.4 |  |  | $ | 519.1 |
Depreciation and Amortization |  |  |  |  |
Tools & Outdoor | $ | 453.5 |  |  | $ | 387.6 |  |  | $ | 312.9 |
Industrial | 171.6 |  |  | 184.2 |  |  | 201.4 |
Discontinued operations | — |  |  | 0.4 |  |  | 62.8 |
Consolidated | $ | 625.1 |  |  | $ | 572.2 |  |  | $ | 577.1 |
Segment Assets | December 30, 2023 |  | December 31, 2022
Tools & Outdoor | $ | 18,960.8 |  |  | $ | 20,202.0 |
Industrial | 4,081.7 |  |  | 5,284.8 |
| 23,042.5 |  |  | 25,486.8 |
Assets held for sale | 857.6 |  |  | — |
Corporate assets | (236.3) |  |  | (523.5) |
Consolidated | $ | 23,663.8 |  |  | $ | 24,963.3 |
Business Segments | The following table is a further disaggregation of the Industrial segment revenue for the years ended December 30, 2023, December 31, 2022 and January 1, 2022:
(Millions of Dollars) | 2023 |  | 2022 |  | 2021
Engineered Fastening | $ | 1,965.4 |  |  | $ | 1,874.8 |  |  | $ | 1,842.1 |
Infrastructure | 448.6 |  |  | 648.6 |  |  | 621.0 |
Industrial | $ | 2,414.0 |  |  | $ | 2,523.4 |  |  | $ | 2,463.1 |
Summary of Net Sales by Geographic Area | GEOGRAPHIC AREAS
(Millions of Dollars) | 2023 |  | 2022 |  | 2021
Net Sales |  |  |  |  |
United States | $ | 9,861.3 |  |  | $ | 10,733.1 |  |  | $ | 9,073.1 |
Canada | 761.5 |  |  | 835.7 |  |  | 696.0 |
Other Americas | 870.9 |  |  | 839.4 |  |  | 833.6 |
Europe | 3,024.7 |  |  | 3,154.7 |  |  | 3,336.0 |
Asia | 1,262.7 |  |  | 1,384.5 |  |  | 1,342.6 |
Consolidated | $ | 15,781.1 |  |  | $ | 16,947.4 |  |  | $ | 15,281.3 |
(Millions of Dollars) | December 30, 2023 |  | December 31, 2022
Property, Plant & Equipment, net |  |  |
United States | $ | 1,306.5 |  |  | $ | 1,465.8 |
Canada | 7.2 |  |  | 7.4 |
Other Americas | 253.2 |  |  | 249.8 |
Europe | 300.0 |  |  | 303.6 |
Asia | 303.0 |  |  | 326.5 |
Consolidated | $ | 2,169.9 |  |  | $ | 2,353.1 |

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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