ACQUISITIONS AND INVESTMENTS (Tables)

6 Months Ended

Jul. 02, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated acquisition date value of identifiable net assets acquired and liabilities assumed:

(Millions of Dollars)
Cash and cash equivalents	$	111.6
Accounts receivable, net	275.1
Inventories, net	897.0
Prepaid expenses and other assets	97.7
Property, plant and equipment	258.7
Trade names	390.0
Customer relationships	460.0
Other assets	37.8
Accounts payable	(394.4)
Accrued expenses	(261.2)
Deferred revenue	(0.9)
Long-term debt	(110.9)
Deferred taxes	(205.4)
Other liabilities	(68.4)
Total identifiable net assets	$	1,486.7
Goodwill	450.0
Total consideration	$	1,936.7

Pro-forma Impact from Acquisitions

The following table presents supplemental pro-forma information as if the 2021 acquisitions had occurred on December 29, 2019. The pro-forma consolidated results are not necessarily indicative of what the Company’s consolidated net sales and net earnings would have been had the Company completed the acquisitions on the aforementioned date. In addition, the pro-forma consolidated results do not purport to project the future results of the Company.

(Millions of Dollars, except per share amounts)	Second Quarter				Year-To-Date
	2022		2021		2022		2021
Net sales	$	4,393.0	$	4,672.8	$	8,841.0	$	9,267.6
Net earnings from continuing operations attributable to common shareowners - Diluted	$	107.4	$	451.8	$	350.3	$	927.6
Diluted earnings per share of common stock - Continuing operations	$	0.69	$	2.74	$	2.19	$	5.63