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Restructuring and Other Charges (Tables) | 9 Months Ended
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Sep. 28, 2024
Restructuring and Related Activities [Abstract] |
Pre-tax Restructuring and Other Charges | Pre-tax restructuring and other charges (gains) for the thirty-nine and thirteen weeks ended September 28, 2024 and September 30, 2023 are shown below.
(In millions) |  | Thirty-Nine Weeks Ended September 28, 2024 |  |  | Thirty-Nine Weeks Ended September 30, 2023 |
|  | Restructuring Charges |  |  | Other Charges (Gains) (a) |  |  | Total Charges |  |  | Restructuring Charges |  |  | Other Charges (Gains) (a) |  |  | Total Charges |
Water |  | $ | 4.9 |  |  | $ | 2.4 |  |  | $ | 7.3 |  |  | $ | 1.3 |  |  | $ | 0.3 |  |  | $ | 1.6 |
Outdoors |  |  | 4.9 |  |  |  | 13.8 |  |  |  | 18.7 |  |  |  | 3.1 |  |  |  | (0.4 | ) |  |  | 2.7 |
Security |  |  | 3.1 |  |  |  | 7.7 |  |  |  | 10.8 |  |  |  | 23.8 |  |  |  | 12.7 |  |  |  | 36.5 |
Corporate |  |  | 1.2 |  |  |  | - |  |  |  | 1.2 |  |  |  | 0.7 |  |  |  | - |  |  |  | 0.7 |
Total |  | $ | 14.1 |  |  | $ | 23.9 |  |  | $ | 38.0 |  |  | $ | 28.9 |  |  | $ | 12.6 |  |  | $ | 41.5 |
(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 September 28, 2024 |  |  | Thirteen Weeks Ended September 30, 2023 |
|  | Restructuring Charges |  |  | Other Charges (Gains) (a) |  |  | Total Charges |  |  | Restructuring Charges |  |  | Other Charges (Gains) (a) |  |  | Total Charges |
Water |  | $ | 3.4 |  |  | $ | 1.6 |  |  | $ | 5.0 |  |  | $ | - |  |  | $ | 0.1 |  |  | $ | 0.1 |
Outdoors |  |  | 2.4 |  |  |  | 1.4 |  |  |  | 3.8 |  |  |  | - |  |  |  | 1.4 |  |  |  | 1.4 |
Security |  |  | 0.8 |  |  |  | 0.5 |  |  |  | 1.3 |  |  |  | 3.7 |  |  |  | 5.1 |  |  |  | 8.8 |
Corporate |  |  | 0.8 |  |  |  | - |  |  |  | 0.8 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 7.4 |  |  | $ | 3.5 |  |  | $ | 10.9 |  |  | $ | 3.7 |  |  | $ | 6.6 |  |  | $ | 10.3 |
(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 30, 2023 |  |  | 2024 Provision |  |  | Cash Expenditures (a) |  |  | Non-Cash Write-offs and Other |  |  | Balance at September 28, 2024 |
Workforce reduction costs |  | $ | 14.6 |  |  | $ | 10.9 |  |  | $ | (16.5 | ) |  |  | (0.2 | ) |  | $ | 8.8 |
Other |  |  | 7.1 |  |  |  | 3.2 |  |  |  | (1.7 | ) |  |  | (0.4 | ) |  |  | 8.2 |
Total |  | $ | 21.7 |  |  | $ | 14.1 |  |  | $ | (18.2 | ) |  | $ | (0.6 | ) |  | $ | 17.0 |
(a) Cash expenditures primarily relate to severance charges.
(In millions) |  | Balance at December 31, 2022 |  |  | 2023 Provision |  |  | Cash Expenditures (a) |  |  | Non-Cash Write-offs and Other |  |  | Balance at September 30, 2023 |
Workforce reduction costs |  | $ | 16.2 |  |  | $ | 16.6 |  |  | $ | (16.3 | ) |  | $ | 0.6 |  |  | $ | 17.1 |
Other |  |  | 13.5 |  |  |  | 12.3 |  |  |  | (1.3 | ) |  |  | (15.7 | ) |  |  | 8.8 |
Total |  | $ | 29.7 |  |  | $ | 28.9 |  |  | $ | (17.6 | ) |  | $ | (15.1 | ) |  | $ | 25.9 |
(a) Cash expenditures primarily relate to severance charges.

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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