XML 34 R22.htm IDEA: XBRL DOCUMENT v3.19.1
Restructuring Charges
 3 Months Ended
Mar. 30, 2019
Notes To Financial Statements [Abstract]  
Restructuring Charges
RESTRUCTURING CHARGES
A summary of the restructuring reserve activity from December 29, 2018 to March 30, 2019 is as follows: 
(Millions of Dollars)
December 29,
2018
 
Net Additions
 
Usage
 
Currency
 
March 30,
2019
Severance and related costs
$
105.7

 
$
7.2

 
$
(24.3
)
 
$
(0.4
)
 
$
88.2

Facility closures and asset impairments
3.1

 
1.5

 
(1.3
)
 
—

 
3.3

Total
$
108.8

 
$
8.7


$
(25.6
)
 
$
(0.4
)
 
$
91.5


For the three months ended March 30, 2019, the Company recognized net restructuring charges of $8.7 million. This amount reflects $7.2 million of net severance charges associated with the reduction of approximately 259 employees and $1.5 million of facility closure and other restructuring costs.
The majority of the $91.5 million of reserves remaining as of March 30, 2019 is expected to be utilized within the next 12 months.

Segments: The $9 million of net restructuring charges for the three months ended March 30, 2019 includes: $1 million of net reversals pertaining to the Tools & Storage segment; $5 million of net charges pertaining to the Security segment; $2.0 million of net charges pertaining to the Industrial segment; and $3 million of net charges pertaining to Corporate.