BUSINESS SEGMENTS (Tables)

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

	Second Quarter				Year-to-Date
(Millions of Dollars)	2022		2021		2022		2021
Net Sales
Tools & Outdoor	$	3,744.9	$	3,196.5	$	7,546.1	$	6,259.4
Industrial	648.1		602.2		1,294.7		1,259.9
Other	—		0.2		0.2		0.4
Consolidated	$	4,393.0	$	3,798.9	$	8,841.0	$	7,519.7
Segment Profit
Tools & Outdoor	$	361.6	$	627.0	$	740.1	$	1,271.7
Industrial	58.3		60.5		99.6		160.3
Segment Profit	419.9		687.5		839.7		1,432.0
Corporate Overhead	(65.5)		(92.8)		(140.2)		(168.6)
Other, net	(79.1)		(42.5)		(141.1)		(90.5)
Gain (loss) on sales of businesses	0.2		(2.6)		0.2		(3.6)
Asset impairment charge	(168.4)		—		(168.4)		—
Restructuring charges	(19.5)		(10.4)		(72.2)		(12.2)
Interest income	6.5		2.7		9.3		5.6
Interest expense	(78.2)		(46.5)		(132.9)		(94.0)
Earnings from continuing operations before income taxes and equity interest	$	15.9	$	495.4	$	194.4	$	1,068.7

Business Segments

The following table is a further disaggregation of the Industrial segment revenue for the three and six months ended July 2, 2022 and July 3, 2021:

	Second Quarter				Year-to-Date
(Millions of Dollars)	2022		2021		2022		2021
Engineered Fastening	$	466.1	$	456.5	$	946.2	$	953.3
Infrastructure	182.0		145.7		348.5		306.6
Industrial	$	648.1	$	602.2	$	1,294.7	$	1,259.9

Summary of Total Assets by Segment

The following table is a summary of total assets by segment as of July 2, 2022 and January 1, 2022:

(Millions of Dollars)	July 2, 2022		January 1, 2022
Tools & Outdoor	$	20,766.5	$	19,537.9
Industrial	5,311.6		5,627.8
	26,078.1		25,165.7
Assets held for sale	3,415.2		3,505.4
Corporate assets	(131.9)		(491.1)
Consolidated	$	29,361.4	$	28,180.0

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 July 2, 2022 and July 3, 2021:

	Second Quarter				Year-to-Date
(Millions of Dollars)	2022		2021		2022		2021
United States	$	2,731.5	$	2,201.8	$	5,476.0	$	4,333.7
Canada	243.5		168.3		480.0		354.6
Other Americas	216.1		209.7		414.4		406.8
France	128.0		127.1		268.0		262.2
Other Europe	729.8		763.4		1,503.4		1,501.4
Asia	344.1		328.6		699.2		661.0
Consolidated	$	4,393.0	$	3,798.9	$	8,841.0	$	7,519.7