DIVESTITURES (Tables)

3 Months Ended

Apr. 02, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

Summarized operating results of discontinued operations are presented in the following table for the three months ended April 2, 2022 and April 3, 2021:

	Year-to-Date
(Millions of Dollars)	2022		2021
Net Sales	$	488.3	$	476.3
Cost of sales	312.6		299.8
Selling, general, and administrative(1)	138.2		133.7
Other, net and restructuring charges	15.3		11.7
Earnings from discontinued operations before income taxes	$	22.2	$	31.1
Income taxes on discontinued operations	2.4		3.9
Net earnings from discontinued operations	$	19.8	$	27.2

(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 (in millions) for the three months ended April 2, 2022 and April 3, 2021:

	Year-to-Date
(Millions of Dollars)	2022		2021
Depreciation and amortization	$	1.3	$	16.6
Capital expenditures	$	4.0	$	4.9
Stock-based compensation	$	9.3	$	2.0

The carrying amounts of the assets and liabilities that were aggregated in assets held for sale and liabilities held for sale as of April 2, 2022 and January 1, 2022 are presented in the following table:

(Millions of Dollars)	April 2, 2022		January 1, 2022
Cash and cash equivalents	$	150.8	$	145.1
Accounts and notes receivable, net	495.7		513.9
Inventories, net	170.5		169.4
Other current assets	47.0		41.2
Property, plant and equipment, net	90.9		84.3
Goodwill and other intangibles, net	2,250.6		2,270.2
Other assets	287.0		281.3
Total assets	$	3,492.5	$	3,505.4
Accounts payable and accrued expenses	$	463.5	$	460.4
Other long-term liabilities	129.1		137.4
Total liabilities	$	592.6	$	597.8