RESTRUCTURING CHARGES

9 Months Ended

Sep. 26, 2020

Restructuring and Related Activities [Abstract]

A summary of the restructuring reserve activity from December 28, 2019 to September 26, 2020 is as follows:


(Millions of Dollars)	December 28, 2019		Net Additions		Usage		Currency		September 26, 2020
Severance and related costs	$	140.3	$	70.3	$	(77.4)	$	(2.5)	$	130.7
Facility closures and asset impairments	7.5		4.3		(10.1)		—		1.7
Total	$	147.8	$	74.6	$	(87.5)	$	(2.5)	$	132.4

For the three and nine months ended September 26, 2020, the Company recognized net restructuring charges of $42.8 million and $74.6 million, respectively, primarily related to severance costs associated with the Company's previously announced cost reduction program. The majority of the $132.4 million of reserves remaining as of September 26, 2020 is expected to be utilized within the next 12 months.

Segments: The $75 million of net restructuring charges for the nine months ended September 26, 2020 includes: $27 million pertaining to the Tools & Storage segment; $35 million pertaining to the Industrial segment; $11 million pertaining to the Security segment; and $2 million pertaining to Corporate.

The $43 million of net restructuring charges for the three months ended September 26, 2020 includes: $14 million pertaining to the Tools & Storage segment; $25 million pertaining to the Industrial segment; $2 million pertaining to the Security segment; and $2 million pertaining to Corporate.