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Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 30, 2023

Restructuring and Related Activities [Abstract]

Pre-tax Restructuring and Other Charges

Pre-tax restructuring and other charges for the year ended December 30, 2023 were as follows:

		Year Ended December 30, 2023
							Other Charges (a)
(In millions)		Restructuring Charges					Cost of Products Sold				SG&A(b)					Total Charges
Water		$	2.2				$	2.6			$	—				$	4.8
Outdoors			4.2					(0.1	)			—					4.1
Security			25.4					19.2				—					44.6
Corporate			0.7					—				—					0.7
Total		$	32.5				$	21.7			$	—				$	54.2

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

(b)Selling, general and administrative expenses.

Pre-tax restructuring and other charges for the year ended December 31, 2022 were as follows:

		Year Ended December 31, 2022
							Other Charges (a)
(In millions)		Restructuring Charges					Cost of Products Sold				SG&A(b)					Total Charges
Water		$	6.3				$	(0.2	)		$	0.8				$	6.9
Outdoors			24.5					(6.2	)			—					18.3
Security			0.6					—				—					0.6
Corporate			1.0					—				—					1.0
Total		$	32.4				$	(6.4	)		$	0.8				$	26.8

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

(b)Selling, general and administrative expenses.

Pre-tax restructuring and other charges for the year ended December 31, 2021 were as follows:

		Year Ended December 31, 2021
							Other Charges (a)
(In millions)		Restructuring Charges					Cost of Products Sold				SG&A(b)					Total Charges
Water		$	(1.1	)			$	2.0			$	2.1				$	3.0
Outdoors			8.3					—				(0.6	)				7.7
Security			2.1					—				—					2.1
Total		$	9.3				$	2.0			$	1.5				$	12.8

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

(b)Selling, general and administrative expenses.

Reconciliation of Restructuring Liability

Reconciliation of Restructuring Liability

(In millions)		Balance at 12/31/22				2023 Provision				Cash Expenditures (a)				Non-Cash Write-offs				Balance at 12/30/23
Workforce reduction costs		$	16.2			$	17.9			$	(20.1	)		$	0.6			$	14.6
Other			13.5				14.6				(1.1	)			(19.9	)			7.1
		$	29.7			$	32.5			$	(21.2	)		$	(19.3	)		$	21.7

(a)Cash expenditures primarily related to severance charges.

(In millions)		Balance at 12/31/21				2022 Provision				Cash Expenditures (a)				Non-Cash Write-offs				Balance at 12/31/22
Workforce reduction costs		$	3.2			$	19.4			$	(6.4	)		$	—			$	16.2
Other			0.8				13.0				(0.3	)			—				13.5
		$	4.0			$	32.4			$	(6.7	)		$	—			$	29.7

(a)Cash expenditures primarily related to severance charges.

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- References

No definition available.

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- 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

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-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
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- 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

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