BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 27, 2020

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

	Second Quarter				Year-to-Date
(Millions of Dollars)	2020		2019		2020		2019
NET SALES
Tools & Storage	$	2,197.2	$	2,626.0	$	4,268.0	$	4,918.3
Industrial	517.5		649.9		1,108.2		1,204.9
Security	432.7		485.4		900.6		971.7
Total	$	3,147.4	$	3,761.3	$	6,276.8	$	7,094.9
SEGMENT PROFIT
Tools & Storage	$	345.1	$	440.0	$	579.9	$	705.8
Industrial	5.1		95.1		72.9		166.1
Security	9.2		38.0		30.1		77.5
Segment profit	359.4		573.1		682.9		949.4
Corporate overhead	(78.7)		(55.6)		(127.6)		(105.2)
Other, net	(86.9)		(62.2)		(161.8)		(127.6)
Gain on sale of business	—		17.2		—		17.2
Restructuring charges	(27.9)		(8.5)		(31.8)		(17.2)
Interest expense	(57.3)		(72.4)		(117.0)		(146.8)
Interest income	2.5		12.1		12.6		28.7
Earnings before income taxes and equity interest	$	111.1	$	403.7	$	257.3	$	598.5

Business Segments

The following table provides the percent of total segment revenue recognized over time for the Industrial and Security segments for the three and six months ended June 27, 2020 and June 29, 2019:

	Second Quarter				Year-to-Date
	2020		2019		2020		2019
Industrial	11.5	%	9.6	%	11.0	%	10.0	%
Security	50.6	%	44.9	%	48.7	%	45.2	%

The following table is a further disaggregation of the Industrial segment revenue for the three and six months ended June 27, 2020 and June 29, 2019:

	Second Quarter				Year-to-Date
(Millions of Dollars)	2020		2019		2020		2019
Engineered Fastening	$	351.7	$	441.9	$	776.4	$	876.2
Infrastructure	165.8		208.0		331.8		328.7
Industrial	$	517.5	$	649.9	$	1,108.2	$	1,204.9

Summary of Total Assets by Segment

The following table is a summary of total assets by segment as of June 27, 2020 and December 28, 2019:

(Millions of Dollars)	June 27, 2020		December 28, 2019
Tools & Storage	$	14,063.9	$	13,642.4
Industrial	5,657.1		4,207.0
Security	3,357.6		3,448.6
	23,078.6		21,298.0
Corporate assets	(94.2)		(701.4)
Consolidated	$	22,984.4	$	20,596.6

Summary of Net Sales by Geographic Area

The following table is a summary of net sales by geographic area for the three and six months ended June 27, 2020 and June 29, 2019:

	Second Quarter				Year-to-Date
(Millions of Dollars)	2020		2019		2020		2019
United States	$	2,004.0	$	2,216.7	$	3,846.0	$	4,108.5
Canada	135.8		160.9		285.7		304.8
Other Americas	90.5		184.0		220.2		349.0
France	105.8		152.6		240.6		306.2
Other Europe	582.1		754.8		1,231.2		1,454.6
Asia	229.2		292.3		453.1		571.8
Consolidated	$	3,147.4	$	3,761.3	$	6,276.8	$	7,094.9