XML 51 R26.htm IDEA: XBRL DOCUMENT v3.22.4
RESTRUCTURING CHARGES
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGESA summary of the restructuring reserve activity from January 1, 2022 to December 31, 2022 is as follows:
(Millions of Dollars)January 1, 2022Net
Additions 		UsageCurrencyDecember 31, 2022
Severance and related costs$28.2 $125.9 $(98.7)$1.6 $57.0 
Facility closures and asset impairments3.5 14.9 (13.2)0.1 5.3 
Total$31.7 $140.8 $(111.9)$1.7 $62.3 
During 2022, the Company recognized net restructuring charges of $140.8 million, primarily related to severance and related costs.
The majority of the $62.3 million of reserves remaining as of December 31, 2022 is expected to be utilized within the next 12 months.

Segments: The $140.8 million of net restructuring charges for the year ended December 31, 2022 includes: $80.7 million pertaining to the Tools & Outdoor segment; $25.9 million pertaining to the Industrial segment; and $34.2 million pertaining to Corporate.