XML 47 R38.htm IDEA: XBRL DOCUMENT v3.23.2

Restructuring and Other Charges (Tables)

6 Months Ended

Jul. 01, 2023

Restructuring and Related Activities [Abstract]

Pre-tax Restructuring and Other Charges

Pre-tax restructuring and other charges for the twenty-six and thirteen weeks ended July 1, 2023 and six and three months ended June 30, 2022 are shown below.

(In millions)		Twenty-Six Weeks Ended July 1, 2023												Six Months Ended June 30, 2022
		Restructuring Charges				Other Charges (Gains) (a)				Total Charges				Restructuring Charges				Other Charges (Gains) (a)				Total Charges
Water		$	1.3			$	0.2			$	1.5			$	0.9			$	0.8			$	1.7
Outdoors			3.0				(1.7	)			1.3				0.7				(6.3	)			(5.6	)
Security			20.2				7.5				27.7				-				-				-
Corporate			0.7				-				0.7				-				-				-
Total		$	25.2			$	6.0			$	31.2			$	1.6			$	(5.5	)		$	(3.9	)

(a) “Other Charges (Gains)” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

(In millions)		Thirteen Weeks Ended July 1, 2023												Three Months Ended June 30, 2022
		Restructuring Charges				Other Charges (Gains) (a)				Total Charges				Restructuring Charges				Other Charges (Gains) (a)				Total Charges
Water		$	1.1			$	0.1			$	1.2			$	0.9			$	-			$	0.9
Outdoors			1.5				(1.7	)			(0.2	)			0.1				-				0.1
Security			19.6				7.5				27.1				-				-				-
Total		$	22.2			$	5.9			$	28.1			$	1.0			$	-			$	1.0

(a) “Other Charges (Gains)” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

Reconciliation of Restructuring Liability

Reconciliation of Restructuring Liability

(In millions)		Balance at December 31, 2022				2023  Provision				Cash Expenditures (a)				Non-Cash Write-offs				Balance at July 1, 2023
Workforce reduction costs		$	16.2			$	14.2			$	(14.1	)			0.7			$	17.0
Other			13.5				11.0				(1.1	)			(14.3	)			9.1
Total		$	29.7			$	25.2			$	(15.2	)		$	(13.6	)		$	26.1

(a) Cash expenditures primarily relate to severance charges.

(In millions)		Balance at  December 31, 2021				2022  Provision				Cash Expenditures (a)				Balance at  June 30, 2022
Workforce reduction costs		$	3.2			$	1.6			$	(3.4	)		$	1.4
Other			0.8				-				-				0.8
Total		$	4.0			$	1.6			$	(3.4	)		$	2.2

(a) Cash expenditures primarily relate to severance charges.

X

- References

No definition available.

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.P.4)
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration