DIVESTITURES (Tables)

12 Months Ended

Dec. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Pre Tax Losses

Following is the pre-tax income for this business for the years ended December 30, 2023, December 31, 2022 and January 1, 2022:

(Millions of Dollars)	2023		2022		2021
Pre-tax income	$	52.0	$	54.3	$	65.1

Schedule of Discontinued Operations

The carrying amounts of the assets and liabilities that were aggregated in assets held for sale and liabilities held for sale as of December 30, 2023 are presented in the following table:

(Millions of Dollars)	December 30, 2023
Cash and cash equivalents	$	0.6
Accounts and notes receivable, net	41.3
Inventories, net	96.5
Other current assets	2.4
Property, plant and equipment, net	70.4
Goodwill	389.7
Intangibles, net	214.3
Other assets	42.4
Total assets	$	857.6
Accounts payable and accrued expenses	$	44.1
Other long-term liabilities	84.8
Total liabilities	$	128.9

Summarized operating results of discontinued operations are presented in the following table for each fiscal year ended:

(Millions of Dollars)	2023		2022		2021
Net Sales	$	—	$	1,056.3	$	1,971.4
Cost of sales	—		687.5		1,258.7
Selling, general, and administrative(1)	—		308.0		529.2
(Loss) gain on sale of discontinued operations	(14.3)		1,197.4		—
Other, net and restructuring charges	—		47.3		59.2
(Loss) earnings from discontinued operations before income taxes	$	(14.3)	$	1,210.9	$	124.3
Income taxes on discontinued operations	14.5		318.5		(12.4)
Net (loss) earnings from discontinued operations	$	(28.8)	$	892.4	$	136.7

(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 CSS and MAS that are included in the Consolidated Statements of Cash Flows for each fiscal year ended:

(Millions of Dollars)	2022		2021
Depreciation and amortization	$	0.4	$	62.8
Capital expenditures	$	6.3	$	20.0
Stock-based compensation	$	17.5	$	7.9