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DIVESTITURES (Tables)
 9 Months Ended
Oct. 01, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Pre Tax Losses
Following is the pre-tax income (losses) for this business for the three and nine months ended October 1, 2022 and October 2, 2021:

Third QuarterYear-to-Date
(Millions of Dollars)2022202120222021
Pre-tax income (losses)$2.9 $(3.2)$(2.7)$(13.3)
Summary of Operating Results of Discontinued Operations Summarized operating results of discontinued operations are presented in the following table for the three and nine months ended October 1, 2022 and October 2, 2021:
Third QuarterYear-to-Date
(Millions of Dollars)2022202120222021
Net Sales$78.2 $483.5 $1,056.3 $1,461.8 
Cost of sales49.0 307.6 687.5 927.6 
Selling, general, and administrative(1)
30.2 125.3 308.0 393.6 
Gain on sale of discontinued operations1,220.0 — 1,220.0 — 
Other, net and restructuring charges14.1 15.9 47.3 42.4 
Earnings from discontinued operations before income taxes$1,204.9 $34.7 $1,233.5 $98.2 
Income taxes on discontinued operations396.9 0.1 396.7 10.4 
Net earnings from discontinued operations$808.0 $34.6 $836.8 $87.8 
(1) Includes provision for credit losses.

The following table presents the significant non-cash items and capital expenditures for the discontinued operations with respect to MAS and CSS that are included in the Condensed Consolidated Statements of Cash Flows for the three and nine months ended October 1, 2022 and October 2, 2021:

Third QuarterYear-to-Date
(Millions of Dollars)2022202120222021
Depreciation and amortization$— $16.4 $0.4 $51.2 
Capital expenditures$— $6.4 $6.3 $13.2 
Stock-based compensation$(1.0)$1.8 $17.5 $5.7 

As of January 1, 2022, the assets and liabilities related to MAS and CSS were classified as held for sale on the Company's Consolidated Balance Sheet. There were no assets or liabilities held for sale relating to the Oil & Gas business as of January 1, 2022. The carrying amounts of the assets and liabilities that were aggregated in assets held for sale and liabilities held for sale as of January 1, 2022 are presented in the following table:

(Millions of Dollars)January 1, 2022
Cash and cash equivalents$145.1 
Accounts and notes receivable, net513.9 
Inventories, net169.4 
Other current assets41.2 
Property, plant and equipment, net84.3 
Goodwill and other intangibles, net2,270.2 
Other assets281.3 
Total assets$3,505.4 
Accounts payable and accrued expenses$460.4 
Other long-term liabilities137.4 
Total liabilities$597.8