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INVENTORIES, NET

12 Months Ended

Dec. 28, 2024

Inventory Disclosure [Abstract]

INVENTORIES, NET

INVENTORIES, NET

(Millions of Dollars)			December 28, 2024						December 30, 2023
Finished products			$	2,943.5					$	2,912.5
Work in process			346.3						263.4
Raw materials			1,246.6						1,562.7
Total			$	4,536.4					$	4,738.6

Net inventories in the amount of $2.7 billion at December 28, 2024 and $2.8 billion at December 30, 2023 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 $197.2 million at December 28, 2024 and $256.1 million at December 30, 2023.

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- 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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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