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Divestitures
6 Months Ended
Jun. 29, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Divestitures DIVESTITURES

On May 30, 2019, the Company sold its Sargent & Greenleaf mechanical locks business within the Security segment for net proceeds of $79.1 million. As a result of the sale, the Company recognized an after-tax gain of $3.7 million in the second quarter of 2019. The divestiture allows the Company to invest in other areas of the Company that fit into its long-term growth strategy.

This disposal does not qualify as discontinued operations in accordance with ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, and therefore, the related results are included in the Company's continuing operations through the date of sale in 2019 and for the three and six months ended June 30, 2018.