REVENUE (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Effect of Applying Topic 606

The cumulative effect of applying Topic 606 to our Consolidated Condensed Balance Sheet was as follows:

	Balance at December 31, 2017 as Previously Reported			Topic 606 Adjustments			Balance at January 1, 2018
Current assets	1,766.5			—			1,766.5
Net property, plant & equipment	663.9			—			663.9
Other assets 1	1,120.4			.7			1,121.1
Total assets	$	3,550.8		$	.7		$	3,551.5
Other current liabilities 2	$	88.7		$	3.0		$	91.7
All other current liabilities	887.5			—			887.5
Long-term liabilities	1,383.8			—			1,383.8
Retained earnings	2,511.3			(2.3		)	2,509.0
Other equity	(1,320.5		)	—			(1,320.5		)
Total liabilities and equity	$	3,550.8		$	.7		$	3,551.5

¹ This represents the deferred tax impact related to Topic 606.

² This adjustment is associated with constraint on the amount of variable consideration.

The effect of applying Topic 606 on our Consolidated Condensed Statement of Operations and Balance Sheet was as follows:

	For the three months ended March 31, 2018
	Amounts as Reported		Topic 606 Adjustments			Amounts Without Adoption of Topic 606
Net sales 3	$	1,028.8	$	2.4		$	1,031.2
Cost of goods sold 3	811.4		3.0			814.4
Gross profit	217.4		(.6		)	216.8
Selling and administrative expenses	104.7		—			104.7
All other	5.3		—			5.3
Earnings from continuing operations before interest and income taxes	107.4		(.6		)	106.8
Net interest expense	12.0		—			12.0
Income taxes	17.5		(.1		)	17.4
Net earnings	$	77.9	$	(.5	)	$	77.4

³ Primarily associated with a reclassification of customer reimbursements of tooling cost from "Net sales" to "Cost of good sold" and adjustments for variable consideration.

	March 31, 2018
	Amounts as Reported			Topic 606 Adjustments			Amounts Without Adoption of Topic 606
Current assets	1,814.1			—			1,814.1
Net property, plant & equipment	710.1			—			710.1
Other assets	1,168.2			(.6		)	1,167.6
Total assets	$	3,692.4		$	(.6	)	$	3,691.8
Other current liabilities	$	93.0		$	(2.4	)	$	90.6
All other current liabilities	885.1			—			885.1
Long-term liabilities	1,518.0			—			1,518.0
Retained earnings	2,538.3			1.8			2,540.1
Other equity	(1,342.0		)	—			(1,342.0		)
Total liabilities and equity	$	3,692.4		$	(.6	)	$	3,691.8

Disaggregation of Revenue by Major Source

We disaggregate revenue by customer group, which is the same as our product lines for each of our segments, as we believe this best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.

	Three Months Ended March 31,
	2018
Residential Products
Bedding group	$	221.0
Fabric & Flooring Products group 4	161.3
Machinery group	15.8
	398.1
Industrial Products
Wire group	82.0
	82.0
Furniture Products
Home Furniture group	100.6
Work Furniture group	71.7
Consumer Products group	109.0
	281.3
Specialized Products
Automotive group	212.1
Aerospace Products group	39.8
Hydraulic Cylinders group	15.5
	267.4
	$	1,028.8

⁴Name changed from Fabric & Carpet Cushion Group as of March 31, 2018