BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 26, 2020

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

	Third Quarter				Year-to-Date
(Millions of Dollars)	2020		2019		2020		2019
NET SALES
Tools & Storage	$	2,804.1	$	2,534.0	$	7,072.1	$	7,452.3
Industrial	586.6		632.7		1,694.8		1,837.6
Security	459.5		466.4		1,360.1		1,438.1
Total	$	3,850.2	$	3,633.1	$	10,127.0	$	10,728.0
SEGMENT PROFIT
Tools & Storage	$	597.1	$	410.1	$	1,177.0	$	1,115.9
Industrial	63.8		90.3		136.7		256.4
Security	39.3		33.1		69.4		110.6
Segment profit	700.2		533.5		1,383.1		1,482.9
Corporate overhead	(62.8)		(50.1)		(190.4)		(155.3)
Other, net	(74.3)		(55.0)		(236.1)		(182.6)
Gain on sale of business	—		—		—		17.2
Restructuring charges	(42.8)		(74.0)		(74.6)		(91.2)
Interest expense	(52.7)		(72.4)		(169.7)		(219.2)
Interest income	2.0		12.7		14.6		41.4
Earnings before income taxes and equity interest	$	469.6	$	294.7	$	726.9	$	893.2

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 nine months ended September 26, 2020 and September 28, 2019:

	Third Quarter				Year-to-Date
	2020		2019		2020		2019
Industrial	8.0	%	12.6	%	10.0	%	10.9	%
Security	49.7	%	46.9	%	49.1	%	45.7	%

The following table is a further disaggregation of the Industrial segment revenue for the three and nine months ended September 26, 2020 and September 28, 2019:

	Third Quarter				Year-to-Date
(Millions of Dollars)	2020		2019		2020		2019
Engineered Fastening	$	436.0	$	429.5	$	1,212.4	$	1,305.7
Infrastructure	150.6		203.2		482.4		531.9
Industrial	$	586.6	$	632.7	$	1,694.8	$	1,837.6

Summary of Total Assets by Segment

The following table is a summary of total assets by segment as of September 26, 2020 and December 28, 2019:

(Millions of Dollars)	September 26, 2020		December 28, 2019
Tools & Storage	$	14,334.8	$	13,642.4
Industrial	5,616.3		4,207.0
Security	3,416.0		3,448.6
	23,367.1		21,298.0
Corporate	(326.2)		(701.4)
Consolidated	$	23,040.9	$	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 nine months ended September 26, 2020 and September 28, 2019:

	Third Quarter				Year-to-Date
(Millions of Dollars)	2020		2019		2020		2019
United States	$	2,336.2	$	2,178.0	$	6,182.2	$	6,286.5
Canada	185.1		158.0		470.8		462.8
Other Americas	168.6		185.6		388.8		534.6
France	148.9		135.0		389.5		441.2
Other Europe	722.3		687.0		1,953.5		2,141.6
Asia	289.1		289.5		742.2		861.3
Consolidated	$	3,850.2	$	3,633.1	$	10,127.0	$	10,728.0