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RESTRUCTURING CHARGES AND OTHER, NET | 3 Months Ended
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Mar. 29, 2025
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGES AND OTHER, NET | RESTRUCTURING CHARGES AND OTHER, NET A summary of the restructuring reserve activity from December 28, 2024 to March 29, 2025 is as follows:
(Millions of Dollars) | December 28, 2024 |  | Net Additions |  | Usage |  | Currency |  | March 29, 2025
Severance and related costs | $ | 25.3 |  |  | $ | 6.7 |  |  | $ | (6.2) |  |  | $ | (0.4) |  |  | $ | 25.4 |
Facility closures and other | 20.1 |  |  | (5.5) |  |  | (5.1) |  |  | — |  |  | 9.5 |
Total | $ | 45.4 |  |  | $ | 1.2 |  |  | $ | (11.3) |  |  | $ | (0.4) |  |  | $ | 34.9 |
For the three months ended March 29, 2025, the Company recognized net restructuring charges of $1.2 million primarily related to severance costs partially offset by adjustments to facility exit costs related to site closures as part of the supply chain transformation. The majority of the $34.9 million of reserves remaining as of March 29, 2025 is expected to be utilized within the next 12 months. Segments: The $1.2 million of net restructuring charges for the three months ended March 29, 2025 includes: $1.6 million of net reversals in the Tools & Outdoor segment; $0.3 million of charges in the Engineered Fastening segment; and $2.5 million of charges in Corporate. Other, net amounted to $47.5 million and $80.0 million for the three months ended March 29, 2025 and March 30, 2024, respectively, which included intangible asset amortization expense of $37.3 million and $41.1 million, respectively. Other, net is also comprised of several other items, none of which were individually significant during the three months ended March 29, 2025 and March 30, 2024, primarily related to currency-related gains or losses, environmental remediation expense, deal costs and related consulting costs, certain pension gains or losses, and income related to providing transition services to previously divested businesses.

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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 -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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