BUSINESS SEGMENTS AND GEOGRAPHIC AREAS (Tables)

12 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

BUSINESS SEGMENTS

(Millions of Dollars)	2023		2022		2021
Net Sales
Tools & Outdoor	$	13,367.1	$	14,423.7	$	12,817.4
Industrial	2,414.0		2,523.4		2,463.1
Corporate Overhead	—		0.3		0.8
Consolidated	$	15,781.1	$	16,947.4	$	15,281.3
Segment Profit
Tools & Outdoor	$	687.6	$	971.9	$	1,985.4
Industrial	266.5		236.2		256.6
Segment Profit	954.1		1,208.1		2,242.0
Corporate Overhead	(312.2)		(294.0)		(342.9)
Other, net	(320.1)		(274.8)		(189.5)
Loss on sales of businesses	(10.8)		(8.4)		(0.6)
Restructuring charges	(39.4)		(140.8)		(14.5)
Gain on equity method investment	—		—		68.0
Asset impairment charges	(274.8)		(168.4)		—
Interest income	186.9		54.7		9.8
Interest expense	(559.4)		(338.5)		(185.4)
(Loss) earnings from continuing operations before income taxes and equity interest	$	(375.7)	$	37.9	$	1,586.9
Capital and Software Expenditures
Tools & Outdoor	$	264.7	$	438.5	$	375.8
Industrial	74.0		85.6		123.3
Discontinued operations	—		6.3		20.0
Consolidated	$	338.7	$	530.4	$	519.1
Depreciation and Amortization
Tools & Outdoor	$	453.5	$	387.6	$	312.9
Industrial	171.6		184.2		201.4
Discontinued operations	—		0.4		62.8
Consolidated	$	625.1	$	572.2	$	577.1

Segment Assets	December 30, 2023		December 31, 2022
Tools & Outdoor	$	18,960.8	$	20,202.0
Industrial	4,081.7		5,284.8
	23,042.5		25,486.8
Assets held for sale	857.6		—
Corporate assets	(236.3)		(523.5)
Consolidated	$	23,663.8	$	24,963.3

Business Segments

The following table is a further disaggregation of the Industrial segment revenue for the years ended December 30, 2023, December 31, 2022 and January 1, 2022:

(Millions of Dollars)	2023		2022		2021
Engineered Fastening	$	1,965.4	$	1,874.8	$	1,842.1
Infrastructure	448.6		648.6		621.0
Industrial	$	2,414.0	$	2,523.4	$	2,463.1

Summary of Net Sales by Geographic Area

GEOGRAPHIC AREAS

 

(Millions of Dollars)	2023		2022		2021
Net Sales
United States	$	9,861.3	$	10,733.1	$	9,073.1
Canada	761.5		835.7		696.0
Other Americas	870.9		839.4		833.6
Europe	3,024.7		3,154.7		3,336.0
Asia	1,262.7		1,384.5		1,342.6
Consolidated	$	15,781.1	$	16,947.4	$	15,281.3

(Millions of Dollars)	December 30, 2023		December 31, 2022
Property, Plant & Equipment, net
United States	$	1,306.5	$	1,465.8
Canada	7.2		7.4
Other Americas	253.2		249.8
Europe	300.0		303.6
Asia	303.0		326.5
Consolidated	$	2,169.9	$	2,353.1