STANLEY BLACK & DECKER, INC., 10-K filed on 2/24/2026
Annual Report
v3.25.4
Cover - USD ($)
$ in Billions
 12 Months Ended
Jan. 03, 2026
Feb. 16, 2026
Jun. 27, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 03, 2026    
Current Fiscal Year End Date --01-03    
Document Transition Report false    
Entity File Number 001-05224    
Entity Registrant Name STANLEY BLACK & DECKER, INC.    
Entity Incorporation, State or Country Code CT    
Entity Tax Identification Number 06-0548860    
Entity Address, Address Line One 1000 STANLEY DRIVE    
Entity Address, City or Town NEW BRITAIN    
Entity Address, State or Province CT    
Entity Address, Postal Zip Code 06053    
City Area Code 860    
Local Phone Number 225-5111    
Title of 12(b) Security Common Stock    
Trading Symbol SWK    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 10.5
Entity Common Stock, Shares Outstanding   155,079,468  
Documents Incorporated by Reference
Portions of the registrant’s definitive proxy statement relating to its 2026 annual meeting of shareholders (the "2026 Proxy Statement") are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The 2026 Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
    
Entity Central Index Key 0000093556    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Audit Information
 12 Months Ended
Jan. 03, 2026
Audit Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location Hartford, Connecticut
Auditor Firm ID 42
v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Income Statement [Abstract]      
Net Sales $ 15,130.4 $ 15,365.7 $ 15,781.1
Costs and Expenses      
Cost of sales 10,542.1 10,851.3 11,848.5
Selling, general and administrative 3,314.5 3,310.5 3,282.0
Provision for credit losses 18.4 22.2 8.7
Other, net 240.7 448.8 320.1
Loss on sales of businesses 0.3 0.0 10.8
Restructuring charges 89.1 99.9 39.4
Asset impairment charges 189.5 72.4 274.8
Interest income (198.4) (179.1) (186.9)
Interest expense 516.3 498.6 559.4
Costs and Expenses 14,712.5 15,124.6 16,156.8
Earnings (loss) from continuing operations before income taxes 417.9 241.1 (375.7)
Income taxes on continuing operations 16.0 (45.2) (94.0)
Net earnings (loss) from continuing operations 401.9 286.3 (281.7)
Gain (loss) on sale of discontinued operations before income taxes 0.0 10.4 (14.3)
Income taxes on discontinued operations 0.0 2.4 14.5
Net earnings (loss) from discontinued operations 0.0 8.0 (28.8)
Net Earnings (Loss) $ 401.9 $ 294.3 $ (310.5)
Basic earnings (loss) per share of common stock:      
Continuing operations (in dollars per share) $ 2.66 $ 1.90 $ (1.88)
Discontinued operations (in dollars per share) 0 0.05 (0.19)
Total basic earnings (loss) per share of common stock (in dollars per share) 2.66 1.96 (2.07)
Diluted earnings (loss) per share of common stock:      
Continuing operations (in dollars per share) 2.65 1.89 (1.88)
Discontinued operations (in dollars per share) 0 0.05 (0.19)
Total diluted earnings (loss) per share of common stock (in dollars per share) $ 2.65 $ 1.95 $ (2.07)
v3.25.4
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Statement of Comprehensive Income [Abstract]      
Net earnings (loss) from continuing operations $ 401.9 $ 286.3 $ (281.7)
Net earnings (loss) from discontinued operations 0.0 8.0 (28.8)
Net earnings (loss) from continuing operations attributable to common shareowners 401.9 294.3 (310.5)
Other comprehensive income (loss):      
Currency translation adjustment and other 408.6 (337.9) 75.1
(Losses) gains on cash flow hedges, net of tax (26.5) 25.8 2.0
(Losses) gains on net investment hedges, net of tax (29.5) 13.5 (8.9)
Pension (losses) gains, net of tax (2.1) 46.8 (17.8)
Other comprehensive income (loss) 350.5 (251.8) 50.4
Comprehensive income (loss) attributable to common shareowners 752.4 42.5 (260.1)
Net earnings (loss) from continuing operations $ 401.9 $ 286.3 $ (281.7)
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Current Assets    
Cash and cash equivalents $ 280.1 $ 290.5
Accounts and notes receivable, net 919.7 1,153.7
Inventories, net 4,157.1 4,536.4
Current assets held for sale 262.4 0.0
Prepaid expenses 328.6 347.1
Other current assets 31.1 50.0
Total Current Assets 5,979.0 6,377.7
Property, plant and equipment, net 1,831.8 2,034.3
Goodwill 7,287.9 7,905.5
Customer relationships, net 766.7 1,293.4
Trade names, net 2,319.1 2,435.5
Other intangible assets, net 1.1 2.0
Long-term assets held for sale 1,273.9 0.0
Other assets 1,784.2 1,800.5
Total Assets 21,243.7 21,848.9
Current Liabilities    
Short-term borrowings 605.6 0.0
Current maturities of long-term debt 554.8 500.4
Accounts payable 2,163.0 2,437.2
Accrued expenses 1,878.1 1,979.3
Current liabilities held for sale 44.2 0.0
Total Current Liabilities 5,245.7 4,916.9
Long-term debt 4,703.3 5,602.6
Deferred taxes 66.2 165.3
Post-retirement benefits 330.2 325.9
Long-term liabilities held for sale 9.4 0.0
Other liabilities 1,834.3 2,118.3
Commitments and Contingencies (Notes Q and R)
Stanley Black & Decker, Inc. Shareowners’ Equity    
Common stock, par value $2.50 per share: Authorized 300,000,000 shares in 2025 and 2024 Issued 176,902,738 shares in 2025 and 2024 442.3 442.3
Retained earnings 8,244.6 8,343.3
Additional paid in capital 5,063.0 5,071.3
Accumulated other comprehensive loss (1,970.4) (2,320.9)
Shareowners' equity subtotal 11,779.5 11,536.0
Less: cost of common stock in treasury (21,866,327 shares in 2025 and 22,529,805 shares in 2024) (2,724.9) (2,816.1)
Stanley Black & Decker, Inc. Shareowners’ Equity 9,054.6 8,719.9
Total Liabilities and Shareowners’ Equity $ 21,243.7 $ 21,848.9
v3.25.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
Jan. 03, 2026
Dec. 28, 2024
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 2.50 $ 2.50
Common stock, shares authorized (in shares) 300,000,000 300,000,000
Common stock, shares, issued (in shares) 176,902,738 176,902,738
Cost of common stock in treasury (in shares) 21,866,327 22,529,805
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Operating Activities:      
Net earnings (loss) $ 401.9 $ 294.3 $ (310.5)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:      
Depreciation and amortization of property, plant and equipment 365.6 426.3 432.4
Amortization of intangibles 146.8 163.2 192.7
Loss on sales of businesses 0.3 0.0 10.8
(Gain) loss on sale of discontinued operations 0.0 (10.4) 14.3
Asset impairment charges 189.5 72.4 274.8
Stock-based compensation expense 94.1 105.4 83.8
Provision for credit losses 18.4 22.2 8.7
Deferred tax benefit (64.4) (227.2) (424.3)
Other non-cash items 67.3 186.3 154.5
Changes in operating assets and liabilities:      
Accounts receivable 190.0 58.2 (117.0)
Inventories 258.5 93.0 906.6
Accounts payable (284.6) 173.3 (23.0)
Deferred revenue (4.5) (3.0) 2.4
Other current assets 44.8 7.1 115.6
Other long-term assets 45.6 (49.7) (175.7)
Accrued expenses (204.1) (230.5) (25.6)
Defined benefit liabilities (34.0) (40.9) (42.2)
Other long-term liabilities (260.0) 66.9 113.0
Net cash provided by operating activities 971.2 1,106.9 1,191.3
Investing Activities:      
Capital and software expenditures (283.3) (353.9) (338.7)
Sales of assets 16.9 14.8 15.1
Sales of businesses, net of cash sold 5.0 735.6 (5.7)
Other (0.1) (2.3) 1.6
Net cash (used in) provided by investing activities (261.5) 394.2 (327.7)
Financing Activities:      
Payments on long-term debt (850.5) 0.0 0.0
Proceeds from debt issuances, net of fees 0.0 0.0 745.3
Net short-term commercial paper borrowings (repayments) 572.9 (1,056.9) (1,044.7)
Purchases of common stock for treasury (20.1) (17.7) (16.1)
Proceeds from issuances of common stock 8.9 24.8 19.0
Craftsman contingent consideration payments 0.0 0.0 (18.0)
Cash dividends on common stock (500.6) (491.2) (482.6)
Other (5.0) (15.7) (18.9)
Net cash used in financing activities (794.4) (1,556.7) (816.0)
Effect of exchange rate changes on cash and cash equivalents 79.3 (106.2) 2.1
Change in cash, cash equivalents and restricted cash (5.4) (161.8) 49.7
Cash, cash equivalents and restricted cash, beginning of year 292.8 454.6 404.9
Cash, cash equivalents and restricted cash, end of year 287.4 292.8 454.6
Supplemental Cash Flow Information [Abstract]      
Cash and cash equivalents 280.1 290.5  
Restricted cash included in Other current assets 7.3 2.3  
Cash, cash equivalents and restricted cash $ 287.4 $ 292.8 $ 454.6
v3.25.4
Consolidated Statements of Changes in Shareowners' Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid In Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Stock
Non- Controlling Interests
Beginning balance at Dec. 31, 2022 $ 9,714.2 $ 442.3 $ 5,055.6 $ 9,333.3 $ (2,119.5) $ (2,999.6) $ 2.1
Increase (Decrease) in Stockholders' Equity              
Net earnings (loss) (310.5)     (310.5)      
Other comprehensive income (loss) 50.4       50.4    
Cash dividends declared (482.6)     (482.6)      
Issuance of common stock 19.0   (80.4)     99.4  
Repurchase of common stock (16.1)         (16.1)  
Non-controlling interest liquidation (2.1)           (2.1)
Stock-based compensation 83.8   83.8        
Ending balance at Dec. 30, 2023 9,056.1 442.3 5,059.0 8,540.2 (2,069.1) (2,916.3) 0.0
Increase (Decrease) in Stockholders' Equity              
Net earnings (loss) 294.3     294.3      
Other comprehensive income (loss) (251.8)       (251.8)    
Cash dividends declared (491.2)     (491.2)      
Issuance of common stock 24.8   (93.1)     117.9  
Repurchase of common stock (17.7)         (17.7)  
Stock-based compensation 105.4   105.4        
Ending balance at Dec. 28, 2024 8,719.9 442.3 5,071.3 8,343.3 (2,320.9) (2,816.1) 0.0
Increase (Decrease) in Stockholders' Equity              
Net earnings (loss) 401.9     401.9      
Other comprehensive income (loss) 350.5       350.5    
Cash dividends declared (500.6)     (500.6)      
Issuance of common stock 8.9   (102.4)     111.3  
Repurchase of common stock (20.1)         (20.1)  
Stock-based compensation 94.1   94.1        
Ending balance at Jan. 03, 2026 $ 9,054.6 $ 442.3 $ 5,063.0 $ 8,244.6 $ (1,970.4) $ (2,724.9) $ 0.0
v3.25.4
Consolidated Statements of Changes in Shareowners' Equity (Parenthetical) - $ / shares
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Statement of Stockholders' Equity [Abstract]      
Cash dividends declared (in dollars per share) $ 3.30 $ 3.26 $ 3.22
Issuance of common stock (in shares) 921,552 960,437 817,110
Repurchase of common stock (in shares) 258,074 207,592 180,552
v3.25.4
Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Jan. 03, 2026
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
Schedule II — Valuation and Qualifying Accounts
Stanley Black & Decker, Inc. and Subsidiaries
Fiscal years ended January 3, 2026, December 28, 2024, and December 30, 2023
(Millions of Dollars)
 
  ADDITIONS  
 Beginning
Balance		Charged To
Costs And
Expenses		Charged
To Other
Accounts (b)		Deductions (a)Ending
Balance
Allowance for Credit Losses:
Year Ended 2025$84.7 $18.4 $21.0 $(55.5)$68.6 
Year Ended 2024$76.6 $22.2 $9.0 $(23.1)$84.7 
Year Ended 2023$106.6 $8.7 $9.5 $(48.2)$76.6 
Tax Valuation Allowance:
Year Ended 2025 (c)$967.8 $131.3 $1.8 $(14.9)$1,086.0 
Year Ended 2024$1,046.9 $31.5 $(1.0)$(109.6)$967.8 
Year Ended 2023$1,032.5 $38.4 $2.2 $(26.2)$1,046.9 
 
(a)With respect to the allowance for credit losses, deductions represent amounts charged-off less recoveries of accounts previously charged-off.
(b)Amounts represent the impact of foreign currency translation, acquisitions, divestitures and net transfers to/from other accounts.
(c)Refer to Note P, Income Taxes, of the Notes to Consolidated Financial Statements in Item 8 for further discussion.
v3.25.4
SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Jan. 03, 2026
Accounting Policies [Abstract]  
SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION — The Consolidated Financial Statements include the accounts of Stanley Black & Decker, Inc. and its majority-owned subsidiaries (collectively the “Company”) which require consolidation, after the elimination of intercompany accounts and transactions. The Company’s fiscal year ends on the Saturday nearest to December 31. There were 53 weeks in fiscal year 2025 and 52 weeks in fiscal years 2024 and 2023.

In the first quarter of 2025, the Industrial segment was renamed “Engineered Fastening” as a result of a more focused portfolio following recent divestitures. The Engineered Fastening segment name change is to the name only and had no impact on the Company’s consolidated financial statements or segment results.

On December 22, 2025, the Company announced that it had entered into a definitive agreement for the sale of the Consolidated Aerospace Manufacturing ("CAM") business. Based on management's commitment to sell this business, the assets and liabilities related to CAM were classified as held for sale on the Company's Consolidated Balance Sheet as of January 3, 2026. There were no assets or liabilities held for sale relating to CAM as of December 28, 2024. This pending divestiture does not qualify for discontinued operations and therefore, its results are included in the Company's continuing operations for all periods presented.

On April 1, 2024, the Company completed the sale of its Infrastructure business. This divestiture did not qualify for discontinued operations, and therefore, the results of the Infrastructure business were included in the Company's continuing operations through the date of sale.

The divestitures above are part of the Company's strategic commitment to simplify and streamline its portfolio to focus on the core Tools & Outdoor and Engineered Fastening businesses. Refer to Note S, Divestitures, for further discussion.
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements. While management believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from these estimates. Certain amounts reported in previous years have been reclassified to conform to the 2025 presentation.
FOREIGN CURRENCY — For foreign operations with functional currencies other than the U.S. dollar, asset and liability accounts are translated at current exchange rates, while income and expenses are translated using average exchange rates. Translation adjustments are reported in a separate component of shareowners’ equity and exchange gains and losses on transactions are included in earnings.
CASH EQUIVALENTS — Highly liquid investments with original maturities of three months or less are considered cash equivalents.
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES — Trade receivables are stated at gross invoice amounts less discounts, other allowances and provisions for credit losses. The Company maintains an allowance for credit losses, which represents an estimate of expected losses over the remaining contractual life of its receivables. The allowance is determined using two methods. The amounts calculated from each of these methods are combined to determine the total amount reserved. First, a specific reserve is established for individual accounts where information indicates the customers may have an inability to meet financial obligations. Second, a reserve is determined for all customers based on a range of percentages applied to aging categories. These percentages are based on historical collection rates, write-off experience, and forecasts of future economic conditions. Actual write-offs are charged against the allowance when collection efforts have been unsuccessful.
INVENTORIES — U.S. inventories are primarily valued at the lower of Last-In, First-Out (“LIFO”) cost or market because the Company believes it results in better matching of costs and revenues. Other inventories are primarily valued at the lower of First-In, First-Out (“FIFO”) cost and net realizable value because LIFO is not permitted for statutory reporting outside the U.S. Refer to Note C, Inventories, Net, for a quantification of the LIFO impact on inventory valuation.
PROPERTY, PLANT AND EQUIPMENT — The Company generally values property, plant and equipment (“PP&E”), including capitalized software, at historical cost less accumulated depreciation and amortization. Costs related to maintenance and repairs which do not prolong the asset's useful life are expensed as incurred. Depreciation and amortization are provided using straight-line methods over the estimated useful lives of the assets as follows:
   Useful Life
(Years)
Land improvements
10 — 20
Buildings40
Machinery and equipment
3 — 15
Computer software
3 — 7
Leasehold improvements are depreciated over the shorter of the estimated useful life or the term of the lease.
The Company reports depreciation and amortization of property, plant and equipment in cost of sales and selling, general and administrative expenses based on the nature of the underlying assets. Depreciation and amortization related to the production of inventory and delivery of services are recorded in cost of sales. Depreciation and amortization related to distribution center activities, selling and support functions are reported in selling, general and administrative expenses.
The Company assesses its long-lived assets for impairment when indicators that the carrying amounts may not be recoverable are present. In assessing long-lived assets for impairment, the Company groups its long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are generated (“asset group”) and estimates the undiscounted future cash flows that are directly associated with, and expected to be generated from, the use of and eventual disposition of the asset group. If the carrying value is greater than the undiscounted cash flows, an impairment loss must be determined and the asset group is written down to fair value. The impairment loss is quantified by comparing the carrying amount of the asset group to the estimated fair value, which is generally determined using weighted-average discounted cash flows that consider various possible outcomes for the disposition of the asset group.
GOODWILL AND INTANGIBLE ASSETS — Goodwill represents costs in excess of values assigned to the underlying net assets of acquired businesses. Intangible assets acquired are recorded at estimated fair value. Goodwill and intangible assets deemed to have indefinite lives are not amortized, but are tested for impairment annually during the third quarter, and at any time when events suggest an impairment more likely than not has occurred.
To assess goodwill for impairment, the Company, depending on relevant facts and circumstances, performs either a qualitative assessment or a quantitative analysis utilizing a discounted cash flow valuation model. In performing a qualitative assessment, the Company first assesses relevant factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative goodwill impairment test. The Company identifies and considers the significance of relevant key factors, events, and circumstances that could affect the fair value of each reporting unit. These factors include external factors such as macroeconomic, industry, and market conditions, as well as entity-specific factors, such as actual and planned financial performance. The Company also considers changes in each reporting unit's fair value and carrying amount since the most recent date a fair value measurement was performed. In performing a quantitative analysis, the Company determines the fair value of a reporting unit using management’s assumptions about future cash flows based on long-range strategic plans. This approach incorporates many assumptions including discount rates, future growth rates and expected profitability. In the event the carrying amount of a reporting unit exceeded its fair value, an impairment loss would be recognized.
Indefinite-lived intangible assets are tested for impairment utilizing either a qualitative assessment or a quantitative analysis. For a qualitative assessment, the Company identifies and considers relevant key factors, events, and circumstances to determine whether it is necessary to perform a quantitative impairment test. The key factors considered include macroeconomic, industry, and market conditions, as well as the asset's actual and forecasted results. For the quantitative impairment tests, the Company compares the carrying amounts to the current fair market values, usually determined by the estimated royalty savings attributable to owning the intangible assets.
Intangible assets with definite lives are amortized over their estimated useful lives to reflect the pattern over which the economic benefits of the intangible assets are consumed. Definite-lived intangible assets are also evaluated for impairment when impairment indicators are present. If the carrying amount exceeds the total undiscounted future cash flows, a discounted cash flow analysis is performed to determine the fair value of the asset. If the carrying amount of the asset was to exceed the fair value, it would be written down to fair value.
Refer to Note E, Goodwill And Intangible Assets, for further discussion of the 2025 impairment charges related to the Lenox, Troy-Bilt, and Irwin indefinite-lived trade names and the 2024 impairment charge related to Lenox. Refer to Note S, Divestitures, for further discussion of the 2024 goodwill impairment charges related to the Infrastructure business.
FINANCIAL INSTRUMENTS — Derivative financial instruments are employed to manage risks, including foreign currency, interest rate exposures and commodity prices and are not used for trading or speculative purposes. As part of the Company’s risk management program, a variety of financial instruments such as interest rate swaps, currency swaps, purchased currency options, foreign exchange contracts and commodity contracts, may be used to mitigate interest rate exposure, foreign currency exposure and commodity price exposure. The Company recognizes all derivative instruments on the balance sheet at fair value.

Changes in the fair value of derivatives are recognized periodically either in earnings or in shareowners’ equity as a component of other comprehensive income (loss) ("OCI"), depending on whether the derivative financial instrument is undesignated or qualifies for hedge accounting, and if so, whether it represents a fair value, cash flow, or net investment hedge. Changes in the fair value of derivatives accounted for as fair value hedges are recorded in earnings in the same caption as the changes in the fair value of the hedged items. Gains and losses on derivatives designated as cash flow hedges, to the extent they are included in the assessment of effectiveness, are recorded in OCI and subsequently reclassified to earnings to offset the impact of the hedged items when they occur. In the event it becomes probable the forecasted transaction to which a cash flow hedge relates will not occur, the derivative would be terminated and the amount in accumulated other comprehensive income (loss) would be recognized in earnings. Changes in the fair value of derivatives that are designated and qualify as a hedge of the net investment in foreign operations, to the extent they are included in the assessment of effectiveness, are reported in OCI and are deferred until disposal of the underlying assets. Gains and losses representing components excluded from the assessment of effectiveness for cash flow and fair value hedges are recognized in earnings on a straight-line basis in the same caption as the hedged item over the term of the hedge. Gains and losses representing components excluded from the assessment of effectiveness for net investment hedges are recognized in earnings on a straight-line basis in Other, net over the term of the hedge.

The net interest paid or received on interest rate swaps is recognized as interest expense. Gains and losses resulting from the early termination of interest rate swap agreements are deferred and amortized as adjustments to interest expense over the remaining period of the debt originally covered by the terminated swap.

Changes in the fair value of derivatives not designated as hedges are reported in Other, net in the Consolidated Statements of Operations. Refer to Note H, Financial Instruments, for further discussion.
REVENUE RECOGNITION — The Company’s revenues result from the sale of goods or services and reflect the consideration to which the Company expects to be entitled. The Company records revenue based on a five-step model in accordance with Accounting Standards Codification 606, Revenue from Contracts with Customers ("ASC 606"). For its contracts with customers, the Company identifies the performance obligations (goods or services), determines the transaction price, allocates the contract transaction price to the performance obligations, and recognizes the revenue when (or as) the performance obligation is transferred to the customer. A good or service is transferred when (or as) the customer obtains control of that good or service. The majority of the Company’s revenues are recorded at a point in time from the sale of tangible products.

Provisions for customer volume rebates, product returns, discounts and allowances are variable consideration and are recorded as a reduction of revenue in the same period the related sales are recorded. Such provisions are calculated using historical averages adjusted for any expected changes due to current business conditions. Consideration given to customers for cooperative advertising is recognized as a reduction of revenue except to the extent that there is a distinct good or service and evidence of the fair value of the advertising, in which case the expense is classified as selling, general, and administrative expense.

For performance obligations that the Company satisfies over time, revenue is recognized by consistently applying a method of measuring progress toward complete satisfaction of that performance obligation. The Company utilizes the method that most accurately depicts the progress toward completion of the performance obligation.

Contract assets or liabilities result from transactions with revenue recorded over time. If the measure of remaining rights exceeds the measure of the remaining performance obligations, the Company records a contract asset. Conversely, if the measure of the remaining performance obligations exceeds the measure of the remaining rights, the Company records a contract liability.

Incremental costs of obtaining or fulfilling a contract with a customer that are expected to be recovered are recognized and classified in Other current assets or Other assets in the Consolidated Balance Sheets and are typically amortized over the
contract period. The Company recognizes the incremental costs of obtaining or fulfilling a contract as expense when incurred if the amortization period of the asset is one year or less.

Customer billings for services not yet rendered are deferred and recognized as revenue as the services are rendered. The associated deferred revenue is included in Accrued expenses or Other liabilities, as appropriate, in the Consolidated Balance Sheets.

Refer to Note B, Accounts and Notes Receivable, Net, for further discussion.
COST OF SALES AND SELLING, GENERAL & ADMINISTRATIVE — Cost of sales includes the cost of products and services provided, reflecting costs of manufacturing and preparing the product for sale. These costs include expenses to acquire and manufacture products to the point that they are allocable to be sold to customers and costs to perform services pertaining to service revenues. Cost of sales is primarily comprised of freight, direct materials, direct labor as well as overhead which includes indirect labor and facility and equipment costs. Cost of sales also includes quality control, procurement and material receiving costs as well as internal transfer costs. Selling, general & administrative costs ("SG&A") include the cost of selling products as well as administrative function costs. These expenses generally represent the cost of selling and distributing the products once they are available for sale and primarily include salaries and commissions of the Company’s sales force, distribution costs, notably salaries and facility costs, as well as administrative expenses for certain support functions and related overhead.
ADVERTISING COSTS — Television advertising is expensed the first time the advertisement airs, whereas other advertising is expensed as incurred. Advertising costs are classified in SG&A and amounted to $90.1 million in 2025, $109.6 million in 2024 and $110.5 million in 2023. Expense pertaining to cooperative advertising with customers reported as a reduction of Net Sales was $350.4 million in 2025, $335.4 million in 2024 and $325.1 million in 2023. Cooperative advertising with customers classified as SG&A expense amounted to $29.1 million in 2025, $21.4 million in 2024 and $27.8 million in 2023.
SALES TAXES — Sales and value added taxes collected from customers and remitted to governmental authorities are excluded from Net Sales reported in the Consolidated Statements of Operations.
SHIPPING AND HANDLING COSTS — The Company generally does not bill customers for freight. Shipping and handling costs associated with inbound and outbound freight are reported in Cost of sales. Other distribution costs, primarily relating to salary and facility costs, are classified in SG&A and amounted to $522.5 million, $534.4 million and $521.7 million in 2025, 2024 and 2023, respectively.
STOCK-BASED COMPENSATION — Compensation cost relating to stock-based compensation grants is recognized on a straight-line basis over the vesting period, which is generally three or four years. The expense for stock options and restricted stock units awarded to retirement-eligible employees is recognized on the grant date, or (if later) by the date they become retirement-eligible. Retirement eligible is defined as those (i) age 55 and with 10 years of service for awards granted before February 14, 2023, and (ii) the earlier of age 55 and with 10 years of service or age 65 and with 1 year of service for awards granted thereafter.
POSTRETIREMENT DEFINED BENEFIT PLANS — The Company uses the corridor approach to determine expense recognition for each defined benefit pension and other postretirement plan. The corridor approach defers actuarial gains and losses resulting from variances between actual and expected results (based on economic estimates or actuarial assumptions) and amortizes them over future periods. For pension plans, these unrecognized gains and losses are amortized when the net gains and losses exceed 10% of the greater of the market-related value of plan assets or the projected benefit obligation at the beginning of the year. For other postretirement benefits, amortization occurs when the net gains and losses exceed 10% of the accumulated postretirement benefit obligation at the beginning of the year. For ongoing, active plans, the amount in excess of the corridor is amortized on a straight-line basis over the average remaining service period for active plan participants. For plans with primarily inactive participants, the amount in excess of the corridor is amortized on a straight-line basis over the average remaining life expectancy of inactive plan participants.
The Company measures defined benefit plan assets and obligations as of the end of the calendar month closest to its fiscal year end as the alternative measurement date in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2015-04, Compensation Retirement Benefit (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Asset.
INCOME TAXES — The Company accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using the enacted tax rates in effect for the
year in which the differences are expected to reverse. Any changes in tax rates on deferred tax assets and liabilities are recognized in income in the period that includes the enactment date. The Company recognizes the tax on global intangible low-taxed income as a period expense in the period the tax is incurred.

The Company records net deferred tax assets to the extent that it is more likely than not that these assets will be realized. In making this determination, management considers all available positive and negative evidence, including future reversals of existing temporary differences, estimates of future taxable income, tax-planning strategies, and the realizability of net operating loss carryforwards. In the event that it is determined that an asset is not more likely than not to be realized, a valuation allowance is recorded against the asset. Valuation allowances related to deferred tax assets can be impacted by changes to tax laws, changes to statutory tax rates and future taxable income levels. In the event the Company were to determine that it would not be able to realize all or a portion of its deferred tax assets in the future, the unrealizable amount would be charged to earnings in the period in which that determination is made. Conversely, if the Company were to determine that it would be able to realize deferred tax assets in the future in excess of the net carrying amounts, it would decrease the recorded valuation allowance through a favorable adjustment to earnings in the period that the determination was made. The Company records uncertain tax positions in accordance with ASC 740, which requires a two-step process. First, management determines whether it is more likely than not that a tax position will be sustained based on the technical merits of the position and second, for those tax positions that meet the more likely than not threshold, management recognizes the largest amount of the tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related taxing authority. The Company maintains an accounting policy of recording interest and penalties on uncertain tax positions as a component of Income taxes on continuing operations in the Consolidated Statements of Operations.
The Company is subject to income tax in a number of locations, including U.S. federal, state and foreign jurisdictions. Significant judgment is required when calculating the worldwide provision for income taxes. Many factors are considered when evaluating and estimating the Company's tax positions and tax benefits, which may require periodic adjustments, and which may not accurately anticipate actual outcomes. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company's unrecognized tax positions will significantly increase or decrease within the next twelve months. These changes may be the result of settlements of ongoing audits, litigation, or other proceedings with taxing authorities. The Company periodically assesses its liabilities and contingencies for all tax years still subject to audit based on the most current available information, which involves inherent uncertainty.

Refer to Note P, Income Taxes, for further discussion.
EARNINGS PER SHARE — Basic earnings per share equals net earnings attributable to common shareowners divided by weighted-average shares outstanding during the year. Diluted earnings per share include the impact of common stock equivalents using the treasury stock method or the if-converted method, as applicable, when the effect is dilutive.

NEW ACCOUNTING STANDARDS ADOPTED — In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The new standard was issued to improve transparency and decision usefulness of income tax disclosures by providing information that helps investors better understand how an entity’s operations, tax risks, tax planning and operational opportunities affect its tax rate and prospects for future cash flows. The amendments in this update primarily relate to requiring greater disaggregated disclosure of information in the rate reconciliation, income taxes paid, income (loss) before income tax expense (benefit), and income tax expense (benefit). The ASU is effective for fiscal years beginning after December 15, 2024. The standard can be applied prospectively or retrospectively. The Company adopted this standard in fiscal year 2025 on a prospective basis and included the required disclosures in Note P, Income Taxes.
RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET ADOPTED — In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this update require disclosure and further disaggregation, in the notes to financial statements, of specified information about certain costs and expenses. The required disclosures include the amounts of purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depreciation, depletion, and amortization recognized as part of oil and gas producing activities included in each relevant expense caption. Additionally, further disclosures are required for certain amounts already required to be disclosed under current GAAP, a qualitative description of amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, and the total amount of selling expenses, and on an annual basis, the definition of selling expenses. The ASU is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027. Early adoption is permitted. The standard can be applied prospectively or retrospectively. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements.
v3.25.4
ACCOUNTS AND NOTES RECEIVABLE, NET
 12 Months Ended
Jan. 03, 2026
Receivables [Abstract]  
ACCOUNTS AND NOTES RECEIVABLE, NET ACCOUNTS AND NOTES RECEIVABLE, NET
(Millions of Dollars)January 3, 2026December 28, 2024
Trade accounts receivable$775.0 $950.4 
Notes receivable68.0 65.9 
Other accounts receivable145.3 222.1 
Accounts and notes receivable988.3 1,238.4 
Allowance for credit losses(68.6)(84.7)
Accounts and notes receivable, net$919.7 $1,153.7 
Trade receivables are dispersed among a large number of retailers, distributors and industrial accounts in many countries. The Company actively manages its accounts receivables to maximize liquidity and mitigate credit risk through customer payment terms, accounts receivable sale programs, and ongoing customer credit monitoring and evaluations. Adequate reserves have been established to cover anticipated credit losses.
The changes in the allowance for credit losses for the years ended January 3, 2026 and December 28, 2024 are as follows:
(Millions of Dollars)20252024
Balance beginning of period$84.7 $76.6 
Charged to costs and expenses18.4 22.2 
Other, including recoveries and deductions (a)(34.5)(14.1)
Balance end of period$68.6 $84.7 
(a) Amounts represent charge-offs less recoveries, the impacts of foreign currency translation, divestitures and net transfers to/from other accounts.

The Company has an accounts receivable sale program in which the Company sells certain of its trade accounts receivables at fair value to a wholly owned, consolidated, bankruptcy-remote special purpose subsidiary (“BRS"). The BRS, in turn, can sell such receivables to a third-party financial institution (“Purchaser”) for cash. The Purchaser’s maximum cash investment in the receivables at any time is $110.0 million. At January 3, 2026 and December 28, 2024, net receivables of approximately $110.0 million and $95.1 million, respectively, were derecognized. Proceeds from transfers of receivables to the Purchaser totaled $459.0 million and $402.3 million for the years ended January 3, 2026 and December 28, 2024, respectively, and payments to the Purchaser totaled $444.1 million and $417.2 million, respectively. The Company has no retained interests in the transferred receivables, other than collection and administrative responsibilities. At January 3, 2026, the Company did not record a servicing asset or liability related to its retained responsibility based on its assessment of the servicing fee, market values for similar transactions and its cost of servicing the receivables sold. Transfers qualify as sales under ASC 860, Transfers and Servicing, and receivables are derecognized from the Company’s Consolidated Balance Sheets upon the sale of the receivables to the Purchaser. All cash flows are reported as a component of changes in accounts receivable within operating activities in the Consolidated Statements of Cash Flows since all the cash from the Purchaser is received upon the initial sale of the receivable.
As of January 3, 2026 and December 28, 2024, the Company's deferred revenue totaled $86.5 million and $101.6 million, respectively, of which $27.3 million and $31.3 million, respectively, was classified as current. Revenue recognized for the years ended January 3, 2026 and December 28, 2024 that was previously deferred as of December 28, 2024 and December 30, 2023 totaled $29.6 million and $28.6 million, respectively.
v3.25.4
INVENTORIES, NET
 12 Months Ended
Jan. 03, 2026
Inventory Disclosure [Abstract]  
INVENTORIES, NET INVENTORIES, NET
(Millions of Dollars)January 3, 2026December 28, 2024
Finished products$2,919.8 $2,943.5 
Work in process174.3 346.3 
Raw materials1,063.0 1,246.6 
Total$4,157.1 $4,536.4 
Net inventories in the amount of $2.4 billion at January 3, 2026 and $2.7 billion at December 28, 2024 were valued at the lower of LIFO cost or market. If the LIFO method had not been used, inventories would have been higher than reported by $382.8 million at January 3, 2026 and $197.2 million at December 28, 2024.
v3.25.4
PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Jan. 03, 2026
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
(Millions of Dollars)January 3, 2026December 28, 2024
Land$104.8 $132.0 
Land improvements67.2 55.2 
Buildings845.1 805.1 
Leasehold improvements195.3 205.0 
Machinery and equipment3,348.7 3,402.1 
Computer software592.1 529.6 
Property, plant & equipment, gross$5,153.2 $5,129.0 
Less: accumulated depreciation and amortization(3,321.4)(3,094.7)
Property, plant & equipment, net$1,831.8 $2,034.3 
v3.25.4
GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Jan. 03, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
GOODWILL — The changes in the carrying amount of goodwill by segment are as follows:
 
(Millions of Dollars)Tools & Outdoor
Engineered Fastening
Total
Balance December 30, 2023$5,976.3 $2,019.6 $7,995.9 
Foreign currency translation and other(67.1)(23.3)(90.4)
Balance December 28, 2024$5,909.2 $1,996.3 $7,905.5 
Foreign currency translation and other116.1 5.7 121.8 
Reclassification to assets held for sale— (739.4)(739.4)
Balance January 3, 2026$6,025.3 $1,262.6 $7,287.9 

As required by the Company's policy, the Company performed its annual goodwill impairment testing in the third quarter of 2025. The Company assessed the fair values of its two reporting units utilizing a discounted cash flow valuation model. The key assumptions used were discount rates and perpetual growth rates applied to cash flow projections. Also inherent in the discounted cash flow valuations were near-term revenue growth rates and Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") margin rates. These assumptions contemplated business, market and overall economic conditions. Based on the results of the annual impairment testing performed in the third quarter of 2025, the Company determined that the fair values of each of its reporting units exceeded their respective carrying amounts.

When a portion of a reporting unit is classified as held for sale, the Company allocates goodwill to the disposal group based on the relative fair values of the business to be disposed of and the portion of the reporting unit that will be retained. The Company then performs a goodwill impairment test on the remaining reporting unit. As previously discussed, in December 2025, the Company entered into an agreement to sell its CAM business. As of January 3, 2026, the Company classified the CAM business, a portion of the Engineered Fastening reporting unit, as held for sale and allocated $739.4 million of the goodwill of the Engineered Fastening reporting unit to CAM. The Company then performed a goodwill impairment test on the remaining reporting unit after the allocation to CAM, which did not result in impairment.
Refer to Note S, Divestitures, for further discussion of the pending CAM divestiture.

INTANGIBLE ASSETS — Definite-lived intangible assets at January 3, 2026 and December 28, 2024 were as follows:
 
 20252024
(Millions of Dollars)Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Amortized Intangible Assets — Definite-lived
Patents and copyrights$27.1 $(27.1)$25.3 $(25.2)
Trade names197.5 (134.1)222.0 (134.0)
Customer relationships2,014.1 (1,247.4)2,550.7 (1,257.3)
Other intangible assets130.8 (129.7)129.8 (127.9)
Total$2,369.5 $(1,538.3)$2,927.8 $(1,544.4)

Net intangibles totaling $410.1 million were reclassified to assets held for sale as of January 3, 2026 related to the pending divestiture of the CAM business.

Indefinite-lived trade names totaled $2.256 billion at January 3, 2026 and $2.348 billion at December 28, 2024. The year-over-year change is primarily due to a $108.4 million pre-tax, non-cash impairment charge, as discussed below, as well as currency fluctuations.
As required by the Company’s policy, the Company tested its indefinite-lived trade names for impairment during the third quarter of 2025 utilizing a discounted cash flow model. The key assumptions used included discount rates, royalty rates, and perpetual growth rates applied to the projected sales. With the exception of the Lenox, Troy-Bilt, and Irwin trade names discussed below, the Company determined that the fair values of its indefinite-lived trade names exceeded their respective carrying amounts.
During 2025, the Company updated its brand prioritization strategy to transition targeted product categories to its priority global brands, while leveraging certain of its complementary brands on more focused product categories and regions where those brands hold more meaningful market positions and value to end users. As a result of these strategic decisions, the Company recognized a $108.4 million pre-tax, non-cash impairment charge related to the Lenox, Troy-Bilt, and Irwin trade names in the third quarter of 2025. Subsequent to this impairment charge, the carrying value of the Lenox, Troy-Bilt, and Irwin trade names totaled $119.6 million. In the third quarter of 2024, the Company recognized a $41.0 million pre-tax, non-cash impairment charge related to the Lenox trade name. The Lenox, Troy-Bilt, and Irwin trade names, which the Company intends to continue utilizing indefinitely in a more focused manner as described above, represented approximately 5% of 2025 net sales for the Tools & Outdoor segment.
Intangible assets amortization expense by segment was as follows:
(Millions of Dollars)202520242023
Tools & Outdoor$96.6 $101.6 $103.1 
Engineered Fastening50.2 61.6 89.6 
Consolidated$146.8 $163.2 $192.7 
Future amortization expense in each of the next five years amounts to $111.1 million for 2026, $103.8 million for 2027, $100.4 million for 2028, $99.3 million for 2029, $95.9 million for 2030 and $320.7 million thereafter.
v3.25.4
ACCRUED EXPENSES
 12 Months Ended
Jan. 03, 2026
Payables and Accruals [Abstract]  
ACCRUED EXPENSES ACCRUED EXPENSES
(Millions of Dollars)January 3, 2026December 28, 2024
Payroll and related taxes$269.0 $329.8 
Income and other taxes115.5 231.1 
Customer rebates and sales returns381.7 353.2 
Insurance and benefits77.8 75.3 
Restructuring costs47.8 34.7 
Derivative financial instruments28.5 11.8 
Warranty costs 129.5 113.7 
Deferred revenue27.3 31.3 
Freight costs128.3 139.6 
Environmental costs69.5 51.4 
Current lease liability133.1 126.6 
Accrued interest55.3 71.6 
Other414.8 409.2 
Total$1,878.1 $1,979.3 
v3.25.4
LONG-TERM DEBT AND FINANCING ARRANGEMENTS
 12 Months Ended
Jan. 03, 2026
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND FINANCING ARRANGEMENTS LONG-TERM DEBT AND FINANCING ARRANGEMENTS
January 3, 2026December 28, 2024
(Millions of Dollars)Interest RateNotional Value
Carrying Value1
Carrying Value1
Notes payable due 20252.30%$— $— $499.9 
Notes payable due 20263.40%500.0 499.9 499.4 
Notes payable due 20266.27%— — 349.3 
Notes payable due 20263.42%25.0 25.2 25.7 
Notes payable due 20261.84%29.3 29.5 26.7 
Notes payable due 20286.00%400.0 398.7 398.0 
Notes payable due 20287.05%150.0 155.3 157.5 
Notes payable due 20284.25%500.0 498.6 498.3 
Notes payable due 20283.52%50.0 51.7 52.4 
Notes payable due 20302.30%750.0 746.8 746.2 
Notes payable due 20323.00%500.0 497.2 496.6 
Notes payable due 20405.20%400.0 376.3 374.5 
Notes payable due 20484.85%500.0 495.4 495.2 
Notes payable due 20502.75%750.0 741.4 741.0 
Notes payable due 2060 (junior subordinated)2
6.71%750.0 741.9 741.6 
Other, payable due 20264.31%0.2 0.2 0.7 
Total long-term debt, including current maturities$5,304.5 $5,258.1 $6,103 
Less: Current maturities of long-term debt(554.8)(500.4)
Long-term debt$4,703.3 $5,602.6 
1Carrying values are net of unamortized discounts of $(4.1) million, deferred issuance costs of $(28.2) million, unamortized terminated swaps of $(18.9) million, and purchase accounting fair value adjustments of $4.8 million. Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note H, Financial Instruments.
2In accordance with the terms of Note payable due 2060, the interest rate was reset as of March 2025, to 6.71%, from 4.00% as of the year ended December 28, 2024.
As of January 3, 2026, the total aggregate annual principal maturities of long-term debt for the next five years and thereafter are as follows: $554.5 million in 2026, $1,100.0 million in 2028, $750.0 million in 2030 and $2,900.0 million beyond 2030.
In August 2025, the Company redeemed its $350 million 6.272% notes at par prior to maturity. The redemption was funded through the issuance of commercial paper at a lower prevailing interest rate. The Company recognized a pre-tax loss of $0.3 million from the redemption related to the write-off of unamortized deferred financing fees.
Commercial Paper and Credit Facilities
The Company has a $3.5 billion commercial paper program which includes Euro denominated borrowings in addition to U.S. Dollars. As of January 3, 2026, the Company had commercial paper borrowings outstanding of $605.6 million, of which $555.6 million in Euro denominated commercial paper was designated as a net investment hedge. Refer to Note H, Financial Instruments, for further discussion. As of December 28, 2024, the Company had no commercial paper borrowings outstanding.

In June 2024, the Company amended and restated its existing five-year $2.5 billion committed credit facility with the concurrent execution of a new five-year $2.25 billion committed credit facility (the “5-Year Credit Agreement”). Borrowings under the 5-Year Credit Agreement may be made in U.S. Dollars, Euros or Pounds Sterling. A sub-limit of an amount equal to the Euro equivalent of $800.0 million is designated for swing line advances. Borrowings bear interest at a floating rate plus an applicable margin dependent upon the denomination of the borrowing and specific terms of the 5-Year Credit Agreement. The Company must repay all advances under the 5-Year Credit Agreement by the earlier of June 28, 2029 or upon termination. The 5-Year Credit Agreement is designated to be a liquidity back-stop for the Company's $3.5 billion U.S. Dollar and Euro commercial paper program. As of January 3, 2026 and December 28, 2024, the Company had not drawn on its five-year committed credit facility.

In June 2025, the Company terminated its 364-Day $1.25 billion committed credit facility ("the 2024 Syndicated 364-Day Credit Agreement") dated June 2024. There were no outstanding borrowings under the 2024 Syndicated 364-Day Credit Agreement upon termination and as of December 28, 2024. Contemporaneously, the Company entered into a new $1.25 billion syndicated 364-Day Credit Agreement (the "2025 Syndicated 364-Day Credit Agreement") which is a revolving credit loan. The borrowings under the 2025 Syndicated 364-Day Credit Agreement may be made in U.S. Dollars or Euros and bear interest at a floating rate plus an applicable margin dependent upon the denomination of the borrowing and pursuant to the terms of the 2025 Syndicated 364-Day Credit Agreement. The Company must repay all advances under the 2025 Syndicated 364-Day Credit Agreement by the earlier of June 22, 2026 or upon termination. The Company may, however, convert all advances outstanding upon termination into a term loan that shall be repaid in full no later than the first anniversary of the termination date provided that the Company, among other things, pays a fee to the administrative agent for the account of each lender. The 2025 Syndicated 364-Day Credit Agreement serves as part of the liquidity back-stop for the Company’s $3.5 billion U.S. Dollar and Euro commercial paper program. As of January 3, 2026, the Company had not drawn on its 2025 Syndicated 364-Day Credit Agreement.

In addition, the Company has other short-term lines of credit that are primarily uncommitted, with numerous banks, aggregating to $299.8 million, of which $216.1 million was available at January 3, 2026, and $83.7 million of the short-term credit lines were utilized primarily pertaining to outstanding letters of credit for which there are no required or reported debt balances. Short-term arrangements are reviewed annually for renewal.

At January 3, 2026, the aggregate amount of short-term and long-term committed and uncommitted lines of credit was approximately $3.8 billion. The weighted-average interest rates on U.S. dollar denominated short-term borrowings for the years ended January 3, 2026 and December 28, 2024 were 4.6% and 5.6%, respectively. The weighted-average interest rates on Euro denominated short-term borrowings for the years ended January 3, 2026 and December 28, 2024 were 2.3% and 3.9%, respectively.
Interest paid relating to the Company's indebtedness, including long-term debt and commercial paper borrowings, during 2025, 2024 and 2023 amounted to $520.6 million, $479.9 million and $531.5 million, respectively.
The 5-Year Credit Agreement and the 2025 Syndicated 364-Day Credit Agreement, as described above, contain customary affirmative and negative covenants, including but not limited to, maintenance of an interest coverage ratio. The interest coverage ratio tested for covenant compliance compares adjusted Earnings Before Interest, Taxes, Depreciation and Amortization to Adjusted Net Interest Expense ("Adjusted EBITDA"/"Adjusted Net Interest Expense"). The Company must maintain, for each period of four consecutive fiscal quarters of the Company, an interest coverage ratio of not less than 3.50 to 1.00, provided that the Company is only required to maintain an interest coverage ratio of not less than 2.50 to 1.00 for any four fiscal quarter period ending on or before the end of the Company’s second fiscal quarter of 2026. For purposes of calculating the Company’s compliance with the interest coverage ratio, the Company is permitted to increase EBITDA by an amount equal to the Applicable Adjustment Addbacks (as defined in the 2025 Syndicated 364-Day Credit Agreement), provided that the sum of the Applicable Adjustment Addbacks incurred in any four consecutive fiscal quarter periods ending on or before the end of the Company’s second fiscal quarter of 2026 shall not exceed $250,000,000 in the aggregate.
v3.25.4
FINANCIAL INSTRUMENTS
 12 Months Ended
Jan. 03, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
FINANCIAL INSTRUMENTS FINANCIAL INSTRUMENTS
The Company is exposed to market risk from changes in foreign currency exchange rates, interest rates, stock prices and commodity prices. As part of the Company’s risk management program, a variety of financial instruments such as interest rate swaps, currency swaps, purchased currency options, foreign exchange contracts and commodity contracts, may be used to mitigate interest rate exposure, foreign currency exposure and commodity price exposure.

If the Company elects to do so and if the instrument meets the criteria specified in ASC 815, Derivatives and Hedging, management designates its derivative instruments as cash flow hedges, fair value hedges or net investment hedges. Generally, commodity price exposures are not hedged with derivative financial instruments and instead are actively managed through customer pricing initiatives, procurement-driven cost reduction initiatives and other productivity improvement projects. Financial instruments are not utilized for speculative purposes.

A summary of the fair values of the Company’s derivatives recorded in the Consolidated Balance Sheets at January 3, 2026 and December 28, 2024 is as follows:
(Millions of Dollars)Balance Sheet
Classification		20252024Balance Sheet
Classification		20252024
Derivatives designated as hedging instruments:
Foreign Exchange Contracts Cash FlowOther current assets$1.4 $23.7 Accrued expenses$10.0 $0.9 
Net Investment HedgeOther current assets2.9 — Accrued expenses9.3 — 
Non-derivative designated as hedging instrument:
Net Investment Hedge$— $— Short-term borrowings$555.6 $— 
Total Designated as hedging instruments$4.3 $23.7 $574.9 $0.9 
Derivatives not designated as hedging instruments:
Foreign Exchange ContractsOther current assets$5.0 $8.9 Accrued expenses$9.2 $10.9 
Total$9.3 $32.6 $584.1 $11.8 

The counterparties to all of the above mentioned financial instruments are major international financial institutions. The Company is exposed to credit risk for net exchanges under these agreements, but not for the notional amounts. The credit risk is limited to the asset amounts noted above. The Company limits its exposure and concentration of risk by contracting with diverse financial institutions and does not anticipate non-performance by any of its counterparties. The Company considers non-performance risk of its counterparties at each reporting period and adjusts the carrying value of these assets accordingly. The risk of default is considered remote. As of January 3, 2026 and December 28, 2024, there were no assets that had been posted as collateral related to the above mentioned financial instruments.

Cash flows related to derivatives, including those that are separately discussed below, resulted in net cash paid of $22.4 million in 2025, $0.1 million in 2024, and $30.1 million in 2023.

CASH FLOW HEDGES — There were after-tax mark-to-market losses of $43.2 million and $16.7 million as of January 3, 2026 and December 28, 2024, respectively, reported for cash flow hedge effectiveness in Accumulated other comprehensive loss. An after-tax loss of $10.6 million is expected to be reclassified to earnings as the hedged transactions occur or as amounts are amortized within the next twelve months. The ultimate amount recognized will vary based on fluctuations of the hedged currencies and interest rates through the maturity dates.

The tables below detail pre-tax amounts of derivatives designated as cash flow hedges in Accumulated other comprehensive loss during the periods in which the underlying hedged transactions affected earnings for 2025, 2024 and 2023: 
2025 (Millions of Dollars)
Gain (Loss)
Recorded in OCI		Classification of
Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Recognized in
Income on Amounts Excluded from Effectiveness Testing
Interest Rate Contracts$— Interest expense$(4.9)$— 
Foreign Exchange Contracts$(39.6)Cost of sales$1.2 $— 
 
2024 (Millions of Dollars)
Gain (Loss) 
Recorded in OCI		Classification of
Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Recognized in
Income on Amounts Excluded from Effectiveness Testing
Interest Rate Contracts$— Interest expense$(6.1)$— 
Foreign Exchange Contracts$30.8 Cost of sales$2.0 $— 
2023 (Millions of Dollars)
Gain (Loss) 
Recorded in OCI		Classification of
Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing
Interest Rate Contracts$— Interest expense$(6.1)$— 
Foreign Exchange Contracts$(4.3)Cost of sales$(0.6)$— 

A summary of the pre-tax effect of cash flow hedge accounting on the Consolidated Statements of Operations for 2025, 2024 and 2023 is as follows:
202520242023
(Millions of Dollars)Cost of SalesInterest ExpenseCost of SalesInterest ExpenseCost of SalesInterest Expense
Total amount in the Consolidated Statements of Operations in which the effects of the cash flow hedges are recorded$10,542.1 $516.3 $10,851.3 $498.6 $11,848.5 $559.4 
Gain (loss) on cash flow hedging relationships:
Foreign Exchange Contracts:
Hedged Items$(1.2)$— $(2.0)$— $0.6 $— 
Gain (loss) reclassified from OCI into Income$1.2 $2.0 $— $(0.6)$— 
Interest Rate Swap Agreements:
Gain (loss) reclassified from OCI into Income 1
$— $(4.9)$— $(6.1)$— $(6.1)
1 Inclusive of the gain/loss amortization on terminated derivative financial instruments.

For 2025, after-tax losses of $2.0 million were reclassified from Accumulated other comprehensive loss into earnings (inclusive of the gain/loss amortization on terminated derivative instruments) during the periods in which the underlying hedged transactions affected earnings. After-tax losses of $1.5 million and $3.6 million were reclassified in 2024 and 2023, respectively.

Interest Rate Contracts: In prior years, the Company entered into interest rate swap agreements in order to obtain the lowest cost source of funds within a targeted range of variable to fixed-debt proportions. These swap agreements, which were designated as cash flow hedges, subsequently matured or were terminated and the gain/loss was recorded in Accumulated other comprehensive loss and is being amortized to interest expense. The cash flows stemming from the maturity and termination of the swaps are presented within financing activities in the Consolidated Statements of Cash Flows.

As of January 3, 2026 and December 28, 2024, the Company did not have any outstanding forward starting swaps designated as cash flow hedges.
Forward Contracts: Through its global businesses, the Company enters into transactions and makes investments denominated in multiple currencies that give rise to foreign currency risk. The Company and its subsidiaries regularly purchase inventory from subsidiaries with functional currencies different than their own, which creates currency-related volatility in the Company’s results of operations. The Company utilizes forward contracts to hedge these forecasted purchases and sales of inventory. Gains and losses reclassified from Accumulated other comprehensive loss are recorded in Cost of sales as the hedged item affects earnings. There are no components excluded from the assessment of effectiveness for these contracts. At January 3, 2026 and December 28, 2024, the notional value of forward currency contracts outstanding is $598.3 million, maturing in 2026, and $537.8 million, maturing in 2025, respectively. In January 2026, the Company entered into forward currency contracts with notional values totaling $166 million, maturing in 2026 and 2027.

FAIR VALUE HEDGES

Interest Rate Risk: In an effort to optimize the mix of fixed versus floating rate debt in the Company’s capital structure, the Company enters into interest rate swaps. In prior years, the Company entered into interest rate swaps related to certain of its notes payable which were subsequently terminated. Amortization of the gain/loss on previously terminated swaps is reported as a reduction of interest expense. Prior to termination, the changes in the fair value of the swaps and the offsetting changes in fair value related to the underlying notes were recognized in earnings. The Company did not have any active fair value interest rate swaps at January 3, 2026 or December 28, 2024.

A summary of the pre-tax effect of fair value hedge accounting on the Consolidated Statements of Operations for 2025, 2024 and 2023 is as follows:
202520242023
(Millions of Dollars)Interest ExpenseInterest ExpenseInterest Expense
Total amount in the Consolidated Statements of Operations in which the effects of the fair value hedges are recorded$516.3 $498.6 $559.4 
Amortization of gain on terminated swaps$(0.4)$(0.4)$(0.4)

A summary of the amounts recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of January 3, 2026 and December 28, 2024 is as follows:

(Millions of Dollars)
2025 Carrying Amount of Hedged Liability1
2025 Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability
Current maturities of long-term debt$554.8 Terminated Swaps$— 
Long-Term Debt$531.6 Terminated Swaps$(18.9)
1Represents hedged items no longer designated in qualifying fair value hedging relationships.
(Millions of Dollars)
2024 Carrying Amount of Hedged Liability1
2024 Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability
Current maturities of long-term debt$500.4 Terminated Swaps$— 
Long-Term Debt$532.0 Terminated Swaps$(19.3)
1Represents hedged items no longer designated in qualifying fair value hedging relationships.


NET INVESTMENT HEDGES

The Company utilizes net investment hedges to offset the translation adjustment arising from re-measurement of its investment in the assets and liabilities of its foreign subsidiaries. The total after-tax amounts in Accumulated other comprehensive loss were gains of $48.9 million and $78.4 million at January 3, 2026 and December 28, 2024, respectively.

As of January 3, 2026 the Company had cross currency swaps with notional values totaling $220 million maturing in 2026, hedging a portion of its Chinese Renminbi and Taiwan Dollar denominated investments. As of December 28, 2024, the Company did not have any net investment hedges with a notional value outstanding. As of January 3, 2026, the Company had $555.6 million in Euro denominated commercial paper hedging a portion of the Company's Euro denominated investments. As of December 28, 2024, the Company did not have any Euro denominated commercial paper.
Maturing foreign exchange contracts resulted in no cash paid or received in 2025, 2024 and 2023.

Gains and losses on net investment hedges remain in Accumulated other comprehensive loss until disposal of the underlying assets. Gains and losses representing components excluded from the assessment of effectiveness are recognized in earnings in Other, net on a straight-line basis over the term of the hedge. Gains and losses after a hedge has been de-designated are recorded directly to the Consolidated Statements of Operations in Other, net.

The pre-tax gain or loss from fair value changes during 2025, 2024 and 2023 were as follows:

2025
(Millions of Dollars)Total Gain (Loss) Recorded in OCIExcluded Component Recorded in OCIIncome Statement ClassificationTotal Gain (Loss) Reclassified from OCI to IncomeExcluded Component Amortized from OCI to Income
Forward Contracts$1.0 $— Other, net$— $— 
Cross Currency Swap$(4.4)$— Other, net$4.3 $(4.3)
Non-derivative designated as Net Investment Hedge$(31.2)$— Other, net$— $— 

2024
(Millions of Dollars)Total Gain (Loss) Recorded in OCIExcluded Component Recorded in OCIIncome Statement ClassificationTotal Gain (Loss) Reclassified from OCI to IncomeExcluded Component Amortized from OCI to Income
Forward Contracts$(0.5)$— Other, net$— $— 
Non-derivative designated as Net Investment Hedge$18.6 $— Other, net$— $— 

2023
(Millions of Dollars)Total Gain (Loss) Recorded in OCIExcluded Component Recorded in OCIIncome Statement ClassificationTotal Gain (Loss) Reclassified from OCI to IncomeExcluded Component Amortized from OCI to Income
Forward Contracts$0.4 $— Other, net$— $— 
Non-derivative designated as Net Investment Hedge$(12.0)$— Other, net$— $— 

UNDESIGNATED HEDGES

Foreign Exchange Contracts: Foreign exchange forward contracts are used to reduce risks arising from the change in fair value of certain foreign currency denominated assets and liabilities (such as affiliate loans, payables and receivables). The objective is to minimize the impact of foreign currency fluctuations on operating results. The total notional amount of the forward contracts outstanding at January 3, 2026 was $1.4 billion maturing on various dates through 2026. The total notional amount of the forward contracts outstanding at December 28, 2024 was $1.3 billion maturing on various dates through 2025. The gain (loss) recorded in the Consolidated Statements of Operations from changes in the fair value related to derivatives not designated as hedging instruments under ASC 815 for 2025, 2024 and 2023 is as follows:
(Millions of Dollars)Income Statement
Classification		202520242023
Foreign Exchange ContractsOther-net$(20.5)$(0.9)$(33.7)
v3.25.4
CAPITAL STOCK
 12 Months Ended
Jan. 03, 2026
Equity [Abstract]  
CAPITAL STOCK CAPITAL STOCK
EARNINGS PER SHARE — The following table reconciles net earnings (loss) and the weighted-average shares outstanding used to calculate basic and diluted earnings (loss) per share for the fiscal years ended January 3, 2026, December 28, 2024, and December 30, 2023.
202520242023
Numerator (in millions):
Net earnings (loss) from continuing operations$401.9 $286.3 $(281.7)
Net earnings (loss) from discontinued operations— 8.0 (28.8)
Net Earnings (Loss)$401.9 $294.3 $(310.5)
202520242023
Denominator (in thousands):
Basic weighted-average shares outstanding151,258 150,485 149,751 
Dilutive effect of stock contracts and awards620 812 — 
Diluted weighted-average shares outstanding151,878 151,297 149,751 

202520242023
Earnings (loss) per share of common stock:
Basic earnings (loss) per share of common stock:
Continuing operations$2.66 $1.90 $(1.88)
Discontinued operations$— $0.05 $(0.19)
Total basic earnings (loss) per share of common stock$2.66 $1.96 $(2.07)
Diluted earnings (loss) per share of common stock:
Continuing operations$2.65 $1.89 $(1.88)
Discontinued operations$— $0.05 $(0.19)
Total diluted earnings (loss) per share of common stock$2.65 $1.95 $(2.07)

The following weighted-average stock options were not included in the computation of weighted-average diluted shares outstanding because the effect would be anti-dilutive (in thousands):
202520242023
Number of stock options6,234 5,141 5,406 

COMMON STOCK ACTIVITY — Common stock activity for 2025, 2024 and 2023 was as follows:
202520242023
Outstanding, beginning of year154,372,933 153,620,088 152,983,530 
Issued from treasury921,552 960,437 817,110 
Returned to treasury(258,074)(207,592)(180,552)
Outstanding, end of year155,036,411 154,372,933 153,620,088 
Shares subject to the forward share purchase contract(3,645,510)(3,645,510)(3,645,510)
Outstanding, less shares subject to the forward share purchase contract151,390,901 150,727,423 149,974,578 
In March 2015, the Company entered into a forward share purchase contract with a financial institution counterparty for 3,645,510 shares of common stock. The contract obligates the Company to pay $350.0 million, plus an additional amount related to the forward component of the contract. In September 2025, the Company amended the forward share purchase contract and updated the final settlement date to June 2028, or earlier at the Company's option. The reduction of common shares
outstanding was recorded at the inception of the forward share purchase contract in March 2015 and factored into the calculation of weighted-average shares outstanding at that time.
COMMON STOCK RESERVED — Common stock shares reserved for issuance under various employee and director stock plans at January 3, 2026 and December 28, 2024 are as follows:
 
20252024
Employee stock purchase plan794,421 921,982 
Other stock-based compensation plans3,861,648 5,869,501 
Total shares reserved4,656,069 6,791,483 

STOCK-BASED COMPENSATION PLANS — The Company has stock-based compensation plans for salaried employees and non-employee members of the Board of Directors. The plans provide for discretionary grants of stock options, restricted stock units and other stock-based awards.

On April 26, 2024, the Company’s shareholders approved the adoption of the 2024 Omnibus Award Plan (the “2024 Plan”), which was approved by the Board of Directors on February 27, 2024. Subject to adjustment as provided in the 2024 Plan, up to an aggregate of (i) 9,320,000 shares of the Company’s common stock may be issued in connection with awards under the 2024 Plan, less (ii) the shares covered by awards granted under the 2022 Omnibus Award Plan (the “2022 Plan”) following December 31, 2023, plus (iii) any shares that become available for awards in accordance with the terms of the 2024 Plan, including as a result of forfeitures under the 2022 Plan or other prior plans. No further awards will be issued under the Company's 2022 Plan. As discussed further below, the Company has granted stock options, restricted share units and awards, performance stock units, and long-term performance awards, under the 2024 Plan, 2022 Plan and prior 2018 Omnibus Award Plan to senior management employees and non-employee members of the Board of Directors.
The plans are generally administered by the Compensation and Talent Development Committee of the Board of Directors, consisting of non-employee directors.
Stock Option Valuation Assumptions:
Stock options are granted at the fair market value of the Company’s common stock on the date of grant and have a maximum 10-year term. Generally, stock option grants vest ratably over three or four years from the date of grant.
The following describes how certain assumptions affecting the estimated fair value of stock options are determined: the expected volatility is based on an average of the market implied volatility and historical volatility for the expected life; the dividend yield is computed as the annualized dividend rate at the date of the grant divided by the strike price of the stock option; and the risk-free interest rate is based on U.S. Treasury securities with maturities equal to the expected life of the option. The Company uses historical data in order to estimate a forfeiture rate, which is generally eight to ten percent, and uses historical data, including holding period behavior, to determine the expected life for stock option valuation purposes.
The fair value of stock option grants is estimated on the date of grant using the Black-Scholes option pricing model. The following weighted-average assumptions were used to value grants made in 2025, 2024 and 2023:
202520242023
Average expected volatility38.9 %38.0 %39.1 %
Dividend yield3.7 %3.6 %3.6 %
Risk-free interest rate4.2 %4.2 %4.0 %
Expected life5.0 years5.0 years5.0 years
Fair value per option$25.42 $25.25 $26.05 
Weighted-average vesting period2.0 years2.0 years1.9 years
Stock Options:
The number of stock options and weighted-average exercise prices as of January 3, 2026 are as follows:
 OptionsPrice
Outstanding, December 28, 20245,918,571 $128.59 
Granted794,826 88.36 
Exercised(13,603)77.83 
Forfeited(771,718)109.38 
Outstanding, January 3, 20265,928,076 $125.81 
Exercisable, January 3, 20264,683,215 $135.62 

At January 3, 2026, the range of exercise prices on outstanding stock options was $69.03 to $193.97 per share. Stock option expense was $21.5 million, $25.3 million and $26.6 million for 2025, 2024 and 2023, respectively. At January 3, 2026, the Company had $12.3 million of unrecognized pre-tax compensation expense for stock options. This expense will be recognized over the remaining vesting periods which are 1.7 years on a weighted-average basis.

During 2025, the Company received $1.1 million in cash from the exercise of stock options and there was no related cash tax benefit. During 2025, 2024, and 2023, the total intrinsic value of options exercised was $0.1 million, $1.9 million, and $1.0 million, respectively. When options are exercised, the related shares are issued from treasury stock. During 2025, 2024, and 2023, the tax shortfall recognized was $2.5 million, $0.3 million, and $0.1 million, respectively, and was recorded in income tax expense.
Outstanding and exercisable stock option information at January 3, 2026 follows:
 Outstanding Stock OptionsExercisable Stock Options
Exercise Price RangesOptionsWeighted-
Average
Remaining
Contractual Life		Weighted-
Average
Exercise Price		OptionsWeighted-
Average
Remaining
Contractual Life		Weighted-
Average
Exercise Price
$90.00 and below
1,985,945 8.09$85.52 909,914 7.30$81.96 
90.01 — 155.00
2,362,208 3.78123.17 2,193,378 3.52125.62 
155.01 — higher
1,579,923 4.15180.41 1,579,923 4.15180.41 
5,928,076 5.32$125.81 4,683,215 4.47$135.62 
Compensation cost for new grants is recognized on a straight-line basis over the vesting period. The expense for retirement eligible employees (as defined in Note A, Significant Accounting Policies) is recognized by the date they become retirement eligible, as such employees may retain their options for the 10-year contractual term in the event they retire prior to the end of the vesting period stipulated in the grant.
As of January 3, 2026, the aggregate intrinsic value of stock options outstanding and stock options exercisable was $0.2 million and zero, respectively.
Employee Stock Purchase Plan: 
The Employee Stock Purchase Plan (“ESPP”) enables eligible employees in the United States, Canada and Israel to purchase shares of the Company's common stock at the lower of 85.0% of the fair market value of the shares on the grant date ($90.98 per share for fiscal year 2025 purchases) or 85.0% of the fair market value of the shares on the last business day of each month. A maximum of 1,600,000 shares are authorized for subscription. During 2025, 2024, and 2023, 127,561 shares, 148,144 shares, and 181,573 shares, respectively, were issued under the plan at average prices of $61.72, $69.49, and $65.34 per share, respectively, and the intrinsic value of the ESPP purchases was $1.4 million, $3.7 million, and $4.1 million, respectively. For 2025, the Company received $7.8 million in cash from ESPP purchases, and there was no related tax benefit. The fair value of ESPP shares was estimated using the Black-Scholes option pricing model. ESPP compensation cost is recognized ratably over the one-year term based on actual employee stock purchases under the plan. The fair value of the employees’ purchase rights under the ESPP was estimated using the following assumptions for 2025, 2024, and 2023, respectively: dividend yield of 3.9%, 3.3%, and 3.9%; expected volatility of 32.0%, 34.0%, and 42.0%; risk-free interest rates of 4.3%, 5.2%, and 4.7%; and expected lives of one year. The weighted-average fair value of those purchase rights granted in 2025, 2024, and 2023 was
$15.53, $27.38, and $21.26, respectively. Total compensation expense recognized for ESPP was $1.6 million, $3.7 million, and $3.6 million in 2025, 2024, and 2023, respectively.
Restricted Share Units: 
Compensation cost for restricted share units (“RSUs”) granted to employees is recognized ratably over the vesting term, which varies but is generally three or four years. RSU grants totaled 881,316 shares, 750,126 shares, and 827,133 shares in 2025, 2024, and 2023, respectively. The weighted-average grant date fair value of RSUs granted in 2025, 2024, and 2023 was $84.31, $89.66, and $90.09 per share, respectively.
Total compensation expense recognized for RSUs amounted to $64.4 million, $64.0 million, and $53.9 million in 2025, 2024, and 2023, respectively. The related cash tax benefit received related to the shares that were delivered in 2025 was $11.2 million. During 2025, 2024, and 2023, the tax shortfall recognized was $1.8 million, $0.8 million, and $1.9 million, respectively. As of January 3, 2026, unrecognized compensation expense for RSUs amounted to $52.8 million and will be recognized over a weighted-average period of 1.0 year.
A summary of non-vested restricted share units and award activity as of January 3, 2026, and changes during the year then ended is as follows:
Restricted Share
Units & Awards		Weighted-Average
Grant
Date Fair Value
Non-vested at December 28, 20241,479,983 $95.44 
Granted881,316 84.31 
Vested(762,210)96.42 
Forfeited(216,830)96.11 
Non-vested at January 3, 20261,382,259 $87.70 
The total fair value of vested RSUs (market value on the date vested) during 2025, 2024, and 2023 was $67.6 million, $59.4 million, and $49.9 million, respectively.
Prior to 2020, non-employee members of the Board of Directors received annual restricted share-based grants which must be cash settled, and accordingly mark-to-market accounting is applied. In 2025, 2024, and 2023 , the Company recognized $1.6 million of income, $0.9 million of income, and $1.5 million of expense for these awards, respectively. Beginning in 2020, the annual grant issued to non-employee members of the Board of Directors is stock settled. The expense related to the annual grant in 2025, 2024, and 2023 was $1.8 million, $1.7 million, and $1.9 million respectively. Additionally, non-employee members of the Board of Directors may defer any or all of their cash retainer fees, which would subsequently be settled as RSU awards. Compensation expense related to these RSUs was $1.0 million, $1.0 million, and $1.1 million for 2025, 2024, and 2023, respectively.
Management Incentive Compensation Plan Performance Stock Units:
In 2020, the Company granted Performance Stock Units (collectively "MICP-PSUs") under the Management Incentive Compensation Plan ("MICP") to participating employees. Awards were payable in shares of common stock and generally no award was made if the employee terminated employment prior to the settlement dates. The delivery of the shares related to the 2020 MICP-PSU grant occurred ratably in 2021, 2022, and 2023. The total shares delivered were based on actual 2020 performance in relation to the established goals. No additional MICP-PSUs have been granted under the MICP in 2023, 2024, or 2025.

Compensation cost for these performance awards was recognized ratably over the vesting term of three years. Total income recognized in 2023 related to these MICP-PSUs approximated $5.0 million. The related cash tax benefit received related to the shares that were delivered in 2023 was $0.9 million. There was no compensation cost for these performance awards recognized in 2025 or 2024, as the 2020 MICP-PSUs were fully vested.
Long-Term Performance Awards:  
The Company has granted Long-Term Performance Awards (“LTIP”) to senior management employees for achieving Company performance measures. Awards are payable in shares of common stock, which may be subject to restrictions if the employee has not achieved certain stock ownership levels, and generally no award is made if the employee terminates employment prior to the settlement date. LTIP grants were made in 2023, 2024, and 2025. Each grant has two separate performance goals representing 75% of the grant date value and one market-based metric representing 25% of the grant date value. For grants
made in 2025, the performance goals were adjusted EBITDA and cash flow return on investment measured for each year within the three-year performance period. For grants made in 2024 and 2023, the performance goals are relative organic sales growth measured over the three-year performance period and cash flow return on investment measured for each year within the three-year performance period. For all years, the market-based metric measures the Company’s common stock return relative to peers over the three-year performance period. The ultimate delivery of shares will occur in 2026, 2027, and 2028 for the 2023, 2024, and 2025 grants, respectively. Share settlements are based on actual performance in relation to these goals.
Expense recognized for these performance awards was $3.7 million, $9.7 million, and $1.7 million in 2025, 2024, and 2023, respectively. With the exception of the market-based metric comprising 25% of the award, in the event performance goals are not met, compensation cost is not recognized and any previously recognized compensation cost is reversed. In 2025, the Company did not receive a cash tax benefit from the exercise of performance awards. The related cash tax benefit received related to the shares that were delivered in 2024 and 2023 was $0.1 million and $0.3 million, respectively. The tax shortfall recognized in 2025, 2024, and 2023 was $0.3 million, $0.5 million, and $0.5 million, respectively.
A summary of the activity pertaining to the maximum number of shares that may be issued is as follows:
LTIP UnitsWeighted-Average
Grant
Date Fair Value
Non-vested at December 28, 20241,019,148 $96.50 
Granted463,348 85.79 
Vested— — 
Forfeited(403,752)121.00 
Non-vested at January 3, 20261,078,744 $82.73 
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE LOSS
 12 Months Ended
Jan. 03, 2026
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS ACCUMULATED OTHER COMPREHENSIVE LOSS
The following table summarizes the changes in the accumulated balances for each component of Accumulated other comprehensive loss:
(Millions of Dollars)Currency translation adjustment and other Cash flow hedges, net of taxNet investment hedges, net of taxPension and other postretirement benefits, net of taxTotal
Balance - December 30, 2023$(1,832.3)$(42.5)$64.9 $(259.2)$(2,069.1)
Other comprehensive (loss) income before reclassifications(331.9)24.3 13.5 35.0 (259.1)
Adjustments related to sales of businesses(6.0)— — — (6.0)
Reclassification adjustments to earnings— 1.5 — 11.8 13.3 
Net other comprehensive (loss) income(337.9)25.8 13.5 46.8 (251.8)
Balance - December 28, 2024$(2,170.2)$(16.7)$78.4 $(212.4)$(2,320.9)
Other comprehensive income (loss) before reclassifications408.6 (28.5)(26.3)(31.9)321.9 
Reclassification adjustments to earnings— 2.0 (3.2)29.8 28.6 
Net other comprehensive income (loss) 408.6 (26.5)(29.5)(2.1)350.5 
Balance - January 3, 2026$(1,761.6)$(43.2)$48.9 $(214.5)$(1,970.4)

The Company uses the portfolio method for releasing the stranded tax effects from Accumulated other comprehensive loss. The reclassifications out of Accumulated other comprehensive loss for the years ended January 3, 2026 and December 28, 2024 were as follows:
(Millions of Dollars)20252024
Components of Accumulated other comprehensive lossReclassification adjustmentsReclassification adjustmentsAffected line item in Consolidated Statements of Operations
Realized gains on cash flow hedges$1.2 $2.0 Cost of sales
Realized losses on cash flow hedges(4.9)(6.1)Interest expense
Total before taxes(3.7)(4.1)
Tax effect1.7 2.6 Income taxes
Realized losses on cash flow hedges, net of tax$(2.0)$(1.5)
Realized gains on net investment hedges$4.3 $— Other, net
Tax effect(1.1)— Income taxes
Realized gains on net investment hedges, net of tax$3.2 $— 
Actuarial losses and prior service costs / credits$(8.5)$(11.1)Other, net
Settlement losses
(23.2)(3.5)Other, net and Restructuring Charges
Total before taxes(31.7)(14.6)
Tax effect1.9 2.8 Income taxes
Amortization of defined benefit pension items, net of tax$(29.8)$(11.8)
v3.25.4
EMPLOYEE BENEFIT PLANS
 12 Months Ended
Jan. 03, 2026
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
RETIREMENT ACCOUNT PLAN (“RAP”) — Most U.S. employees may make contributions that do not exceed 25% of their eligible compensation to a tax-deferred 401(k) savings plan, subject to restrictions under tax laws. Employees generally direct the investment of their own contributions into various investment funds. An employer match benefit is provided under the plan equal to one half of each employee’s tax-deferred contribution up to the first 7% of their compensation. Participants direct the entire employer match benefit such that no participant is required to hold the Company’s common stock in their 401(k) account. The employer match benefit totaled $31.4 million, $31.7 million, and $32.8 million in 2025, 2024, and 2023, respectively.                                         

In addition, 10,965 U.S. salaried and non-union hourly employees are eligible to receive a non-contributory benefit under the Core benefit plan. Core benefit allocations range from 2% to 6% of eligible employee compensation based on age. Allocations for benefits earned under the Core plan were $38.6 million, $36.1 million, and $38.8 million in 2025, 2024, and 2023, respectively. Assets held in participant Core accounts are invested in target date retirement funds which have an age-based allocation of investments.
The Company’s net RAP activity resulted in expense of $70.0 million, $67.8 million, and $71.6 million in 2025, 2024, and 2023, respectively, and is comprised of the aforementioned Core and 401(k) match defined contribution benefits.

The Company made cash contributions to the plan totaling $72.7 million in 2025, $72.6 million in 2024, and $61.0 million in 2023.

PENSION AND OTHER BENEFIT PLANS — The Company sponsors pension plans covering most domestic hourly and certain executive employees, and 9,303 foreign employees. Benefits are generally based on salary and years of service, except for U.S. collective bargaining employees whose benefits are based on a stated amount for each year of service.

The Company contributes to a number of multi-employer plans for certain collective bargaining U.S. employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects:
a.    Assets contributed to the multi-employer plan by one employer may be used to provide benefit to employees of other participating employers.
b.    If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be inherited by the remaining participating employers.
c.    If the Company chooses to stop participating in some of its multi-employer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

In addition, the Company also contributes to a number of multi-employer plans outside of the U.S. The foreign plans are insured, therefore, the Company’s obligation is limited to the payment of insurance premiums.

The Company has assessed and determined that none of the multi-employer plans to which it contributes are individually significant to the Company’s Consolidated Financial Statements. The Company does not expect to incur a withdrawal liability or expect to significantly increase its contributions over the remainder of the contract period.

In addition to the multi-employer plans, various other defined contribution plans are sponsored worldwide. As of January 3, 2026 and December 28, 2024, the Company had $124.4 million and $118.7 million, respectively, of liabilities pertaining to an unfunded supplemental defined contribution plan for certain U.S. employees.

The expense for defined contribution plans, aside from the earlier discussed RAP plans, are as follows:
(Millions of Dollars)202520242023
Multi-employer plan expense$3.4 $3.7 $3.5 
Other defined contribution plan expense $50.8 $45.7 $43.3 

The components of net periodic pension expense are as follows:
 U.S. PlansNon-U.S. Plans
(Millions of Dollars)202520242023202520242023
Service cost$7.3 $6.4 $8.1 $11.9 $12.2 $11.2 
Interest cost50.7 51.6 54.7 42.6 41.7 43.4 
Expected return on plan assets(59.5)(60.8)(62.1)(49.2)(43.9)(41.5)
Amortization of prior service cost (credit)0.5 0.6 0.8 (0.8)(0.7)(0.7)
Actuarial loss amortization8.3 8.1 8.9 2.3 4.4 3.4 
Special termination benefit— — — — — 0.3 
Settlement / curtailment loss0.2 — 0.3 23.0 3.5 0.7 
Net periodic pension expense$7.5 $5.9 $10.7 $29.8 $17.2 $16.8 

The Company provides medical and dental benefits for certain retired employees in the United States, Brazil, and Canada. Approximately 523 participants are covered under these plans. Net periodic post-retirement benefit expense was comprised of the following:
 Other Benefit Plans
(Millions of Dollars)202520242023
Service cost$0.2 $0.3 $0.3 
Interest cost1.5 1.7 2.0 
Amortization of prior service cost0.1 0.1 0.1 
Actuarial gain amortization(1.9)(1.4)(1.4)
Settlement / curtailment gain— — — 
Special termination benefit6.1 — — 
Net periodic post-retirement expense$6.0 $0.7 $1.0 

The components of net periodic post-retirement benefit expense other than the service cost component are typically included in Other, net in the Consolidated Statements of Operations. The settlement and curtailment loss recorded in 2025 as reflected in the table above, under Non-U.S. Plans, was included in Restructuring charges in the Consolidated Statements of Operations. Refer to Note N, Restructuring Charges and Other, net for further information.
Changes in plan assets and benefit obligations recognized in Accumulated other comprehensive loss in 2025 are as follows:
(Millions of Dollars)2025
Current year actuarial loss$27.7 
Amortization of actuarial loss(8.5)
Prior service cost from plan amendments0.8 
Settlement / curtailment loss(23.2)
Currency / other6.2 
Total increase recognized in Accumulated other comprehensive loss (pre-tax)$3.0 


The changes in the pension and other post-retirement benefit obligations, fair value of plan assets, as well as amounts recognized in the Consolidated Balance Sheets, are shown below.
U.S. PlansNon-U.S. PlansOther Benefits
(Millions of Dollars)202520242025202420252024
Change in benefit obligation
Benefit obligation at end of prior year$1,012.5 $1,090.3 $861.6 $999.1 $27.0 $35.2 
Service cost7.3 6.4 11.9 12.2 0.2 0.3 
Interest cost50.7 51.6 42.6 41.7 1.5 1.7 
Special termination benefit— — — — 6.1 — 
Settlements/curtailments(7.8)— (10.8)(14.5)— — 
Actuarial loss (gain)22.2 (46.7)(6.8)(92.6)0.4 (1.4)
Plan amendments0.6 0.1 — 0.1 0.2 — 
Foreign currency exchange rate changes— — 72.3 (29.2)0.6 (1.1)
Participant contributions— — 0.3 0.2 — — 
Acquisitions, divestitures, and other(4.8)(4.6)(3.5)(2.8)— — 
Benefits paid(79.5)(84.6)(52.9)(52.6)(5.4)(7.7)
Benefit obligation at end of year$1,001.2 $1,012.5 $914.7 $861.6 $30.6 $27.0 
Change in plan assets
Fair value of plan assets at end of prior year$923.4 $979.2 $759.7 $831.0 $— $— 
Actual return on plan assets77.3 21.1 35.0 (6.1)— — 
Participant contributions— — 0.3 0.2 — — 
Employer contributions13.1 12.3 38.6 20.9 5.4 7.7 
Settlements(7.8)— (27.8)(16.9)— — 
Foreign currency exchange rate changes— — 54.6 (14.4)— — 
Acquisitions, divestitures, and other(4.8)(4.6)(3.8)(2.4)— — 
Benefits paid(79.5)(84.6)(52.9)(52.6)(5.4)(7.7)
Fair value of plan assets at end of plan year$921.7 $923.4 $803.7 $759.7 $— $— 
Funded status — assets less than benefit obligation$(79.5)$(89.1)$(111.0)$(101.9)$(30.6)$(27.0)
Unrecognized prior service cost (credit)1.7 1.5 (13.1)(13.0)0.5 0.4 
Unrecognized net actuarial loss (gain)213.8 217.9 126.4 121.0 (17.6)(19.1)
Net amount recognized$136.0 $130.3 $2.3 $6.1 $(47.7)$(45.7)
 U.S. PlansNon-U.S. PlansOther Benefits
(Millions of Dollars)202520242025202420252024
Amounts recognized in the Consolidated Balance Sheets
Prepaid benefit cost (non-current)$4.3 $3.8 $126.5 $124.8 $— $— 
Current benefit liability(5.4)(5.2)(11.3)(10.3)(5.0)(5.2)
Non-current benefit liability(78.4)(87.7)(226.2)(216.4)(25.6)(21.8)
Net liability recognized$(79.5)$(89.1)$(111.0)$(101.9)$(30.6)$(27.0)
Accumulated other comprehensive loss (pre-tax):
Prior service cost (credit)$1.7 $1.5 $(13.1)$(13.0)$0.5 $0.4 
Actuarial loss (gain)213.8 217.9 126.4 121.0 (17.6)(19.1)
215.5 219.4 113.3 108.0 (17.1)(18.7)
Net amount recognized$136.0 $130.3 $2.3 $6.1 $(47.7)$(45.7)

Actuarial gains and losses reflected in the table above are driven by changes in demographic experience, changes in assumptions, and differences in actual returns on investments compared to estimated returns from the prior year. For the year ended January 3, 2026, the net actuarial loss across the Company's plans was driven by the decrease in the single equivalent discount rate used to measure these obligations as well as unfavorable changes in demographic experience. These actuarial losses were partially offset, as actual returns on plan assets during the year were greater than the estimated return.
The accumulated benefit obligation for all benefit plans was $1.912 billion at January 3, 2026 and $1.868 billion at December 28, 2024. The following table provides information regarding pension plans in which accumulated benefit obligations exceed plan assets as of January 3, 2026 and December 28, 2024:
U.S. PlansNon-U.S. Plans
(Millions of Dollars)2025202420252024
Accumulated benefit obligation$910.6 $916.5 $234.0 $221.1 
Fair value of plan assets$826.7 $823.6 $29.4 $25.7 
The following table provides information regarding pension plans in which projected benefit obligations (inclusive of anticipated future compensation increases) exceed plan assets as of January 3, 2026 and December 28, 2024:
 U.S. PlansNon-U.S. Plans
(Millions of Dollars)2025202420252024
Projected benefit obligation$910.6 $916.5 $281.1 $271.9 
Fair value of plan assets$826.7 $823.6 $43.6 $45.2 
The major assumptions used in valuing pension and post-retirement plan obligations and net costs were as follows:
 Pension Benefits
 U.S. PlansNon-U.S. PlansOther Benefits
 202520242023202520242023202520242023
Weighted-average assumptions used to determine benefit obligations at year end:
Discount rate5.27 %5.55 %5.04 %5.11 %5.04 %4.43 %5.38 %5.74 %5.45 %
Rate of compensation increase— — — 3.33 %3.45 %3.52 %— — — 
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate - service cost5.84 %5.27 %5.58 %5.45 %5.18 %5.23 %7.77 %6.33 %6.64 %
Discount rate - interest cost5.24 %4.96 %5.23 %4.85 %4.36 %4.67 %5.52 %5.44 %5.37 %
Rate of compensation increase— — — 3.45 %3.52 %3.64 %— — — 
Expected return on plan assets6.72 %6.47 %6.70 %6.37 %5.45 %5.29 %— — — 
The expected rate of return on plan assets is determined considering the returns projected for the various asset classes and the relative weighting for each asset class. The Company will use a 6.55% weighted-average expected rate of return assumption to determine the 2026 net periodic benefit cost.
PENSION PLAN ASSETS — Plan assets are invested in equity securities, government and corporate bonds and other fixed income securities, money market instruments and insurance contracts. The Company’s worldwide asset allocations at January 3, 2026 and December 28, 2024 by asset category and the level of the valuation inputs within the fair value hierarchy established by ASC 820, Fair Value Measurement, were as follows:
Asset Category (Millions of Dollars)
2025Level 1Level 2
Cash and cash equivalents$23.3 $17.7 $5.6 
Equity securities
U.S. equity securities80.0 — 80.0 
Foreign equity securities38.7 — 38.7 
Fixed income securities
Government securities841.2 264.5 576.7 
Corporate securities670.6 — 670.6 
Insurance contracts42.9 — 42.9 
Other28.7 — 28.7 
Total$1,725.4 $282.2 $1,443.2 
 
Asset Category (Millions of Dollars)
2024Level 1Level 2
Cash and cash equivalents$29.7 $20.3 $9.4 
Equity securities
U.S. equity securities166.1 48.7 117.4 
Foreign equity securities92.8 24.5 68.3 
Fixed income securities
Government securities647.7 253.5 394.2 
Corporate securities678.9 — 678.9 
Insurance contracts37.7 — 37.7 
Other30.2 — 30.2 
Total$1,683.1 $347.0 $1,336.1 
U.S. and foreign equity securities primarily consist of companies with large market capitalization and to a lesser extent mid and small capitalization securities. Government securities primarily consist of U.S. Treasury securities and foreign government securities with de minimus default risk. Corporate fixed income securities include publicly traded U.S. and foreign investment
grade and to a small extent high yield securities. Assets held in insurance contracts are invested in the general asset pools of the various insurers, mainly debt and equity securities with guaranteed returns. Other investments include diversified private equity holdings. The level 2 investments are primarily comprised of institutional mutual funds that are not publicly traded; the investments held in these mutual funds are generally level 1 publicly traded securities.
The Company's investment strategy for pension assets focuses on a liability-matching approach with gradual de-risking taking place over a period of many years. The Company utilizes the current funded status to transition the portfolio toward investments that better match the duration and cash flow attributes of the underlying liabilities. The primary goals is to mitigate exposure to interest rate movement and preserve the overall funded status of the underlying plans. Plan assets are broadly diversified and are invested to ensure adequate liquidity for immediate- and medium-term benefit payments. The Company’s target asset allocations include approximately 10%-20% in equity securities, approximately 70%-80% in fixed income securities and approximately 10% in other securities. The funded status percentage (total plan assets divided by total projected benefit obligation) of all global pension plans was 90% in both 2025 and 2024, and 87% in 2023.

CONTRIBUTIONS — The Company’s funding policy for its defined benefit plans is to contribute amounts determined annually on an actuarial basis to provide for current and future benefits in accordance with federal law and other regulations. The Company expects to contribute approximately $29 million to its pension and other post-retirement benefit plans in 2026.

EXPECTED FUTURE BENEFIT PAYMENTS — Benefit payments, inclusive of amounts attributable to estimated future employee service, are expected to be paid over the next 10 years as follows:

(Millions of Dollars)TotalYear 1Year 2Year 3Year 4Year 5Years 6-10
Future payments$1,471.2 $152.0 $152.4 $151.4 $148.1 $149.7 $717.6 
These benefit payments will be funded through a combination of existing plan assets, the returns on those assets, and amounts to be contributed in the future by the Company.

HEALTH CARE COST TRENDS — The weighted-average annual assumed rate of increase in the per-capita cost of covered benefits (i.e., health care cost trend rate) is assumed to be 7.1% for 2026, reducing gradually to 4.9% by 2037 and remaining at that level thereafter.
v3.25.4
FAIR VALUE MEASUREMENTS
 12 Months Ended
Jan. 03, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
ASC 820, Fair Value Measurement, defines, establishes a consistent framework for measuring, and expands disclosure requirements about fair value. ASC 820 requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy:
Level 1 — Quoted prices for identical instruments in active markets.
Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs and significant value drivers are observable.
Level 3 — Instruments that are valued using unobservable inputs.
The Company is exposed to market risk from changes in foreign currency exchange rates, interest rates, stock prices and commodity prices. The Company holds various financial instruments to manage these risks. These financial instruments are carried at fair value and are included within the scope of ASC 820. The Company determines the fair value of these financial instruments through the use of matrix or model pricing, which utilizes observable inputs such as market interest and currency rates. When determining fair value for which Level 1 evidence does not exist, the Company considers various factors including the following: exchange or market price quotations of similar instruments, time value and volatility factors, the Company’s own credit rating and the credit rating of the counterparty.
Recurring Fair Value Measurements
The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis for each of the hierarchy levels:
(Millions of Dollars)Total
Carrying
Value		Level 1Level 2Level 3
January 3, 2026
Money market fund$16.9 $16.9 $— $— 
Deferred compensation plan investments$15.0 $15.0 $— $— 
Derivative assets$9.3 $— $9.3 $— 
Derivative liabilities$28.5 $— $28.5 $— 
Non-derivative hedging instrument$555.6 $— $555.6 $— 
Contingent consideration liability$109.5 $— $— $109.5 
December 28, 2024
Money market fund$14.2 $14.2 $— $— 
Deferred compensation plan investments$17.0 $17.0 $— $— 
Derivative assets$32.6 $— $32.6 $— 
Derivative liabilities$11.8 $— $11.8 $— 
Contingent consideration liability$167.4 $— $— $167.4 
The following table provides information about the Company's financial assets and liabilities not carried at fair value:
 
 January 3, 2026December 28, 2024
(Millions of Dollars)Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Other investments$2.0 $1.9 $4.0 $3.9 
Long-term debt, including current portion$5,258.1 $4,844.4 $6,103.0 $5,548.8 
The money market fund and other investments related to the West Coast Loading Corporation ("WCLC") trust are considered Level 1 instruments within the fair value hierarchy. The deferred compensation plan investments are considered Level 1 instruments and are recorded at their quoted market price. The fair values of the derivative financial instruments in the table above are based on current settlement values.
The long-term debt instruments are considered Level 2 instruments and are measured using a discounted cash flow analysis based on the Company’s marginal borrowing rates. The differences between the carrying values and fair values of long-term debt are attributable to the stated interest rates differing from the Company's marginal borrowing rates. The fair values of the Company's variable rate short-term borrowings approximated their carrying values at January 3, 2026 and December 28, 2024.
As part of the Craftsman® brand acquisition in March 2017, the Company recorded a contingent consideration liability representing the Company's obligation to make future payments to Transform Holdco, LLC, which operates Sears and Kmart retail locations, of between 2.5% and 3.5% on sales of Craftsman products in new Stanley Black & Decker, Inc. channels through March 2032. During the year ended January 3, 2026, the Company paid $34.6 million for royalties owed. The Company will continue making future payments quarterly through the second quarter of 2032. The estimated fair value of the contingent consideration liability is determined using a discounted cash flow analysis taking into consideration future sales projections, forecasted payments to Transform Holdco, LLC, based on contractual royalty rates, and the related tax impacts. The estimated fair value of the contingent consideration liability was $109.5 million and $167.4 million as of January 3, 2026 and December 28, 2024, respectively. Adjustments to the contingent consideration liability, with the exception of cash payments, are recorded in SG&A in the Consolidated Statements of Operations. A 100-basis point reduction in the discount rate would result in an increase to the liability of approximately $2.4 million as of January 3, 2026.
A single estimate of fair value results from a complex series of judgments about future events and uncertainties and relies heavily on estimates and assumptions. The Company's judgments used to determine the estimated contingent consideration liability discussed above, including estimated future sales projections, can materially impact the Company's results of operations.
Refer to Note H, Financial Instruments, for more details regarding derivative financial instruments, Note R, Contingencies, for more details regarding the other investments related to the WCLC trust, and Note G, Long-Term Debt and Financing Arrangements, for more information regarding the carrying values of the long-term debt.
Non-Recurring Fair Value Measurements
During the third quarter of 2025, as part of its annual long-term strategic planning and ongoing portfolio assessment, the Company made the strategic decision to exit most of its minority investments that are mainly associated with legacy corporate ventures, which resulted in a pre-tax, non-cash impairment charge of $43.9 million. Additionally, as a result of strategic decisions, the Company recorded a non-cash impairment charge in the third quarter of 2025 related to the Lenox, Troy-Bilt and Irwin trade names. These impairment charges were considered Level 3 fair value measurements. Refer to Note E, Goodwill and Intangible Assets, for further discussion on trade names.
During the third quarter of 2024, the Company recorded an impairment charge related to the Lenox trade name, which was considered a Level 3 fair value measurement. Refer to Note E, Goodwill and Intangible Assets.
The Company recorded impairment charges in the first quarter of 2024 and the fourth quarter of 2023 to adjust the carrying amount of the long-lived assets of its Infrastructure business sold on April 1, 2024, which were considered Level 3 fair value measurements. Refer to Note S, Divestitures for further discussion.
The Company had no other non-recurring fair value measurements that were significant individually or in the aggregate, nor any other financial assets or liabilities measured using Level 3 inputs, during 2025 or 2024.
v3.25.4
OTHER COSTS AND EXPENSES
 12 Months Ended
Jan. 03, 2026
Other Costs and Expenses [Abstract]  
OTHER COSTS AND EXPENSES OTHER COSTS AND EXPENSES
Other, net amounted to $240.7 million, $448.8 million, and $320.1 million for fiscal years 2025, 2024, and 2023, respectively, which included intangible asset amortization expense of $146.8 million, $163.2 million, and $192.7 million, respectively. Other, net in 2024 also included a $142.3 million environmental remediation reserve adjustment related to the Centredale site, as further discussed in Note R, Contingencies.
Other, net is also comprised of several other items, none of which were individually significant in 2025, 2024, and 2023, primarily related to currency-related gains or losses, other environmental remediation expenses, deal costs and related consulting costs, certain pension gains or losses, gains or losses on sales of assets, and income related to providing transition services to previously divested businesses.
Research and development costs, which are classified in SG&A, were $321.4 million, $328.8 million, and $362.0 million, or 2.1%, 2.1%, and 2.3% of net sales, for fiscal years 2025, 2024 and 2023, respectively.
v3.25.4
RESTRUCTURING CHARGES
 12 Months Ended
Jan. 03, 2026
Restructuring and Related Activities [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
A summary of the restructuring reserve activity from December 28, 2024 to January 3, 2026 is as follows:
(Millions of Dollars)December 28, 2024Net
Additions 		UsageCurrencyJanuary 3, 2026
Severance and related costs$25.3 $85.7 $(64.2)$(1.1)$45.7 
Facility closures and other20.1 3.4 (21.4)— 2.1 
Total$45.4 $89.1 $(85.6)$(1.1)$47.8 

During 2025, the Company recognized net restructuring charges of $89.1 million, primarily driven by severance costs and certain related pension charges associated with reorganizations of the Company’s corporate and support functions and supply chain resources, as well as facility exit costs related to footprint actions associated with the supply chain transformation.
The majority of the $47.8 million of reserves remaining as of January 3, 2026 is expected to be utilized within the next 12 months.

Segments: The $89.1 million of net restructuring charges for the year ended January 3, 2026 includes: $71.0 million pertaining to the Tools & Outdoor segment; $5.3 million pertaining to the Engineered Fastening segment; and $12.8 million pertaining to Corporate.
v3.25.4
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS
 12 Months Ended
Jan. 03, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS BUSINESS SEGMENTS AND GEOGRAPHIC AREAS
The Company’s operations are classified into two reportable business segments: Tools & Outdoor and Engineered Fastening. In the first quarter of 2025, the Industrial segment was renamed “Engineered Fastening” as a result of a more focused portfolio following recent divestitures. The Engineered Fastening segment name change is to the name only and had no impact on the Company’s consolidated financial statements or segment results.
The Tools & Outdoor segment is comprised of the Power Tools Group ("PTG"), Hand Tools, Accessories & Storage ("HTAS") and Outdoor Power Equipment ("Outdoor") product lines. The PTG product line includes both professional and consumer products. Professional products, primarily under the DEWALT® brand, include professional grade corded and cordless electric power tools and equipment including drills, impact wrenches and drivers, grinders, saws, routers, sanders, and concrete prep and placement tools as well as pneumatic tools and fasteners including nail guns, nails, staplers and staples, and concrete and masonry anchors. DIY and tradesperson focused products include corded and cordless electric power tools sold primarily under the CRAFTSMAN® and STANLEY® brands, and consumer home products such as household power tools, hand-held vacuums, and small appliances primarily under the BLACK+DECKER® brand. The HTAS product line sells hand tools, power tool accessories and storage products primarily under the DEWALT®, CRAFTSMAN®, and STANLEY® brands. Hand tools include measuring, leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, material handling, and industrial and automotive tools. Power tool accessories include drill bits, screwdriver bits, router bits, abrasives, saw blades and threading products. Storage products include tool boxes, sawhorses, cabinets and engineered storage solution products. The Outdoor product line primarily sells corded and cordless electric lawn and garden products, including hedge trimmers, string trimmers, lawn mowers, pressure washers and related accessories, and gas powered lawn and garden products, including lawn tractors, zero turn ride on mowers, walk behind mowers, snow blowers, residential robotic mowers, hand-held outdoor power equipment, garden tools, and parts and accessories to professionals and consumers primarily under the DEWALT®, CRAFTSMAN®, CUB CADET®, BLACK+DECKER®, and HUSTLER® brand names.
The Engineered Fastening segment is comprised of the Engineered Fastening business and included the Infrastructure business prior to its sale in April 2024. The Engineered Fastening business primarily sells highly engineered components such as fasteners, fittings and various engineered products, which are designed for specific applications across multiple verticals. The product categories include externally threaded fasteners, blind rivets and tools, blind inserts and tools, drawn arc weld studs and systems, engineered plastic and mechanical fasteners, self-piercing riveting systems, precision nut running systems, micro fasteners, high-strength structural fasteners, axel swage, latches, heat shields, pins, and couplings.
The Company utilizes segment profit, which is defined as net sales minus cost of sales and SG&A inclusive of the provision for credit losses (aside from corporate overhead expense), and segment profit as a percentage of net sales to assess the profitability of each segment. Transactions between segments are not material. Segment assets primarily include cash, accounts receivable, inventory, other current assets, property, plant and equipment, right-of-use lease assets and intangible assets. Net sales and long-lived assets are attributed to the geographic regions based on the geographic locations of the end customer and the Company subsidiary, respectively.
The corporate overhead element of SG&A, which is not allocated to the business segments for purposes of determining segment profit, consists of the costs associated with the executive management team and expenses related to centralized functions that benefit the entire Company but are not directly attributable to the business segments, such as legal and corporate finance functions, as well as expenses for the world headquarters facility.
The Company’s chief operating decision maker ("CODM") is the President and Chief Executive Officer. The CODM uses segment profit for each segment as part of the Company's annual operating plan and forecasting process. The CODM monitors actual segment profit results relative to operating plan and forecast to assess the performance of the business and allocate resources.
BUSINESS SEGMENTS
(Millions of Dollars)2025
 Tools & Outdoor Engineered Fastening Total
Net Sales $13,158.2 $1,972.2 $15,130.4 
 Cost of sales 9,122.5 1,417.5 
 Selling, general and administrative2,706.9 357.7 
 Segment Profit $1,328.8 $197.0 $1,525.8 
 Corporate Overhead (270.4)
 Other, net (240.7)
 Loss on sale of business(0.3)
 Restructuring charges (89.1)
 Asset impairment charges (189.5)
 Interest income 198.4 
 Interest expense (516.3)
Earnings from continuing operations before income taxes $417.9 
(Millions of Dollars)2024
Tools & OutdoorEngineered FasteningTotal
Net Sales$13,304.2 $2,061.5 $15,365.7 
Cost of sales9,404.0 1,452.0 
Selling, general and administrative2,702.8 354.6 
Segment Profit$1,197.4 $254.9 $1,452.3 
Corporate Overhead(270.6)
Other, net(448.8)
Restructuring charges(99.9)
Asset impairment charges(72.4)
Interest income179.1 
Interest expense(498.6)
Earnings from continuing operations before income taxes$241.1 
(Millions of Dollars)2023
Tools & OutdoorEngineered FasteningTotal
Net Sales$13,367.1 $2,414.0 $15,781.1 
Cost of sales10,090.2 1,758.2 
Selling, general and administrative2,589.3 389.3 
Segment Profit$687.6 $266.5 $954.1 
Corporate Overhead(312.2)
Other, net(320.1)
Loss on sales of businesses(10.8)
Restructuring charges(39.4)
Asset impairment charges(274.8)
Interest income186.9 
Interest expense(559.4)
Loss from continuing operations before income taxes$(375.7)
(Millions of Dollars)202520242023
Capital and Software Expenditures
Tools & Outdoor$236.5 $301.5 $264.7 
Engineered Fastening46.8 52.4 74.0 
Consolidated$283.3 $353.9 $338.7 
Depreciation and Amortization
Tools & Outdoor$396.7 $456.8 $453.5 
Engineered Fastening115.7 132.7 171.6 
Consolidated$512.4 $589.5 $625.1 
Segment AssetsJanuary 3, 2026December 28, 2024
Tools & Outdoor$17,705.5 $18,135.8 
Engineered Fastening2,402.0 3,962.9 
20,107.5 22,098.7 
Assets held for sale1,536.3 — 
Corporate assets(400.1)(249.8)
Consolidated$21,243.7 $21,848.9 

Corporate assets primarily consist of cash, deferred taxes, property, plant and equipment and right-of-use lease assets. Based on the nature of the Company's cash pooling arrangements, at times corporate-related cash accounts will be in a net liability position.

The Home Depot accounted for approximately 15%, 14%, and 13% of the Company's consolidated net sales in 2025, 2024, and 2023, respectively, while Lowe's accounted for approximately 12%, 14%, and 14% of the Company's consolidated net sales in 2025, 2024, and 2023, respectively.

As described in Note A, Significant Accounting Policies, the Company recognizes revenue at a point in time from the sale of tangible products or over time depending on when the performance obligation is satisfied. For the years ended January 3, 2026, December 28, 2024, and December 30, 2023, the majority of the Company’s revenue was recognized at the time of sale. The percent of total segment revenue recognized over time for the Engineered Fastening segment for the years ended January 3, 2026, December 28, 2024, and December 30, 2023 was 1.9%, 3.2%, and 2.2%, respectively.
The Engineered Fastening segment included the Infrastructure business prior to its sale on April 1, 2024. The Infrastructure business had $92.6 million of sales for the three months ended March 30, 2024 and $448.6 million of sales for the year ended December 30, 2023.
GEOGRAPHIC AREAS

The following table is a summary of net sales and PP&E by geographic area for the years ended January 3, 2026, December 28, 2024 and December 30, 2023:
 
(Millions of Dollars)202520242023
Net Sales
United States$9,316.8 $9,505.4 $9,861.3 
Canada680.3 739.5 761.5 
Other Americas839.6 879.7 870.9 
Europe3,079.8 3,018.3 3,024.7 
Asia1,213.9 1,222.8 1,262.7 
Consolidated$15,130.4 $15,365.7 $15,781.1 

(Millions of Dollars)January 3, 2026December 28, 2024
Property, Plant & Equipment, net
United States$1,053.3 $1,256.8 
Canada5.1 5.6 
Other Americas195.3 208.4 
Europe290.0 273.4 
Asia288.1 290.1 
Consolidated$1,831.8 $2,034.3 
v3.25.4
INCOME TAXES
 12 Months Ended
Jan. 03, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The components of earnings (loss) from continuing operations before income taxes consisted of the following:
(Millions of Dollars)202520242023
United States$(597.2)$(925.4)$(1,385.0)
Foreign1,015.1 1,166.5 1,009.3 
Earnings (loss) from continuing operations before income taxes$417.9 $241.1 $(375.7)
Income taxes on continuing operations consisted of the following:
(Millions of Dollars)202520242023
Current:
Federal$(154.5)$4.3 $5.8 
Foreign233.4 174.9 307.4 
State1.5 2.8 17.1 
Total current$80.4 $182.0 $330.3 
Deferred:
Federal$(126.0)$(181.5)$(158.2)
Foreign78.6 (17.5)(218.3)
State(17.0)(28.2)(47.8)
Total deferred$(64.4)$(227.2)$(424.3)
Income taxes on continuing operations$16.0 $(45.2)$(94.0)
The amount of income taxes paid (net of refunds) consisted of the following:
(Millions of Dollars)2025
Federal$113.3 
State10.4 
Foreign206.4 
Total net income taxes paid$330.1 
Income taxes paid (net of refunds) for the following jurisdictions exceeded five percent of total income taxes paid (net of refunds):
(Millions of Dollars)2025
Foreign:
China$27.9 
Mexico27.4 
Canada17.3 
Net income taxes paid for continuing operations during 2024 and 2023 were $352.3 million and $415.2 million, respectively. The 2024 and 2023 amounts include refunds of $53.1 million and $25.3 million, respectively.
The reconciliation of the U.S. federal statutory income tax provision to Income taxes on continuing operations in the Consolidated Statements of Operations is as follows:
2025
(Millions of Dollars)AmountPercent
U.S. federal statutory tax rate$87.8 21.0 %
State and local income taxes, net of federal income tax effect (a)(11.1)(2.7)%
Foreign tax effects50.2 12.0 %
China
Withholding taxes26.8 6.4 %
Other3.5 0.8 %
Cyprus
Tax base differential(23.1)(5.5)%
Other(4.1)(1.0)%
Germany
Enacted changes in tax laws or rates13.2 3.2 %
Other3.5 0.8 %
Mexico
Changes in valuation allowances15.3 3.7 %
Other6.4 1.5 %
Other foreign jurisdictions8.7 2.1 %
Effect of cross-border tax laws55.1 13.2 %
Deemed royalty income18.1 4.3 %
Global intangible low-taxed income17.1 4.1 %
Subpart F income16.1 3.9 %
Other3.8 0.9 %
Tax credits(10.9)(2.6)%
Nontaxable or nondeductible items38.7 9.3 %
Share-based payment awards11.8 2.8 %
Other26.9 6.4 %
Changes in unrecognized tax benefits(101.1)(24.2)%
Other adjustments(92.7)(22.2)%
Capital loss(107.9)(25.8)%
Other15.2 3.6 %
Effective tax rate$16.0 3.8 %

(a) State taxes in Illinois, Texas, Georgia, Indiana, Minnesota, and California made up the majority (greater than 50 percent) of the tax effect in this category.
(Millions of Dollars)20242023
Tax at statutory rate$50.6 $(78.9)
State income taxes, net of federal benefits(21.2)(23.6)
Foreign tax rate differential(0.9)(48.0)
Uncertain tax benefits(8.6)30.5 
Change in valuation allowance(28.1)33.5 
Change in deferred tax liabilities on undistributed foreign earnings1.2 — 
Stock-based compensation8.0 8.2 
Change in tax rates0.7 0.2 
Tax credits(20.2)(17.8)
U.S. federal tax expense on foreign earnings15.9 63.6 
Intra-entity asset transfer of intellectual property— (131.3)
Withholding taxes13.6 38.9 
Impairment on assets held for sale4.0 30.4 
Capital loss(64.4)— 
Global minimum taxes    3.9 — 
Other0.3 0.3 
Income taxes on continuing operations$(45.2)$(94.0)
Significant components of the Company’s deferred tax assets and liabilities, excluding 2025 amounts classified as held for sale, at the end of each fiscal year were as follows:
(Millions of Dollars)20252024
Deferred tax assets:
Employee benefit plans$120.5 $137.9 
Basis differences in liabilities141.0 139.5 
Operating loss, capital loss and tax credit carryforwards989.7 983.7 
Lease liability 114.2 123.3 
Intangible assets711.2 636.2 
Capitalized research and development costs155.6 205.3 
Interest expense carryforward 291.1 207.2 
Inventory100.8 22.5 
Other157.8 151.3 
Total deferred tax assets$2,781.9 $2,606.9 
Less: Valuation allowance$(1,086.0)$(967.8)
Deferred tax asset, net of valuation allowance$1,695.9 $1,639.1 
Deferred tax liabilities:
Depreciation$61.2 $73.9 
Intangible assets737.2 799.6 
Liability on undistributed foreign earnings36.0 11.8 
Lease right-of-use asset110.5 118.1 
Other42.9 37.4 
Total deferred tax liabilities$987.8 $1,040.8 
Net deferred tax asset$708.1 $598.3 
A valuation allowance is recorded on certain deferred tax assets if it has been determined it is more likely than not that all or a portion of these assets will not be realized. The Company recorded a valuation allowance of $1,086.0 million and $967.8 million on deferred tax assets existing as of January 3, 2026 and December 28, 2024, respectively. The valuation allowances in 2025 and 2024 are primarily attributable to foreign and state net operating loss carryforwards, certain intangible assets, foreign interest expense carryforwards, foreign tax credits, and state tax credits.
As of January 3, 2026, the Company has provided for deferred taxes of $36.0 million on approximately $1.3 billion of unremitted foreign earnings and profits, which are not indefinitely reinvested. The Company otherwise continues to consider the remaining undistributed earnings of its foreign subsidiaries to be permanently reinvested based on its current plans for use outside of the U.S. and accordingly no taxes have been provided on such earnings. The cash held by the Company’s non-U.S. subsidiaries for indefinite reinvestment is generally used to finance foreign operations and investments. The income taxes applicable to such earnings and other outside basis differences are not readily determinable or practicable to calculate.
As of January 3, 2026, the Company has approximately $1.6 billion and $3.8 billion of net operating loss carryforwards available to reduce future tax obligations in certain U.S. state and foreign jurisdictions, respectively. The Company’s foreign net operating loss carryforwards primarily relate to its subsidiaries’ operations in Luxembourg ($2.3 billion), United Kingdom ($905.1 million), France ($203.5 million), Germany ($126.0 million), Brazil ($78.2 million), and other foreign jurisdictions ($184.4 million). The net operating loss carryforwards have various expiration dates beginning in 2026 with certain jurisdictions having indefinite carryforward periods. The foreign capital loss carryforwards of $20.9 million as of January 3, 2026 have indefinite carryforward periods.
U.S. foreign tax credit carryforward balance as of January 3, 2026 totaled $24.1 million with various expiration dates beginning in 2027. State tax credit carryforward balance as of January 3, 2026 totaled $21.8 million. The carryforward balance is made up of various credit types spanning multiple state taxing jurisdictions and various expiration dates beginning in 2026.
The Company conducts business globally and, as a result, files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course, the Company is subject to examinations by taxing authorities throughout the world. The Internal Revenue Service is currently examining the Company's consolidated U.S. income tax returns for the 2020 through 2022 tax years. With few exceptions, as of January 3, 2026, the Company is no longer subject to U.S. federal, state, local, or foreign examinations by tax authorities for years before 2012.
The Company’s liabilities for unrecognized tax benefits relate to U.S. and various foreign jurisdictions. The following table summarizes the activity related to the unrecognized tax benefits:
(Millions of Dollars)202520242023
Balance at beginning of year$452.4 $481.3 $502.7 
Additions based on tax positions related to current year25.0 41.4 20.9 
Additions based on tax positions related to prior years36.1 10.2 20.4 
Reductions based on tax positions related to prior years(142.8)(41.6)(8.2)
Settlements(4.4)(10.2)(16.2)
Statute of limitations expirations(1.0)(28.7)(16.8)
Reclassification to long-term liabilities held for sale— — (21.5)
Balance at end of year$365.3 $452.4 $481.3 

The gross unrecognized tax benefits at January 3, 2026 and December 28, 2024 include $360.5 million and $447.1 million, respectively, of tax benefits that, if recognized, would impact the effective tax rate. The liability for potential penalties and interest related to unrecognized tax benefits, excluding 2023 amounts reclassified to liabilities held for sale, decreased by $24.6 million in 2025, increased by $1.0 million in 2024, and increased by $15.5 million in 2023. The liability for potential penalties and interest totaled $40.7 million as of January 3, 2026, $65.3 million as of December 28, 2024, and $64.3 million as of December 30, 2023. The Company classifies all tax-related interest and penalties as income tax expense.

The Company considers many factors when evaluating and estimating its tax positions and the impact on income tax expense, which may require periodic adjustments, and which may not accurately anticipate actual outcomes. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company's unrecognized tax positions will significantly increase or decrease within the next twelve months. However, based on the uncertainties associated with finalizing audits with the relevant tax authorities including formal legal proceedings, it is not possible to reasonably estimate the impact of any such change.
v3.25.4
COMMITMENTS AND GUARANTEES
 12 Months Ended
Jan. 03, 2026
Commitments and Guarantees [Abstract]  
COMMITMENTS AND GUARANTEES COMMITMENTS AND GUARANTEES
COMMITMENTS — The Company has numerous assets, predominantly real estate, vehicles and equipment, under various lease arrangements. At inception of arrangements with vendors, the Company determines whether the contract is or contains a lease based on each party’s rights and obligations under the arrangement. If the lease arrangement also contains non-lease components, the lease and non-lease elements are separately accounted for in accordance with the appropriate accounting guidance for each item. From time to time, lease arrangements allow for, and the Company executes, the purchase of the
underlying leased asset. Lease arrangements may also contain renewal options or early termination options. As part of its lease liability and right-of-use asset calculation, consideration is given to the likelihood of exercising any extension or termination options. Leases with expected durations of less than twelve months from inception (i.e. short-term leases) are excluded from the Company’s calculation of lease liabilities and right-of-use assets, as permitted by ASC 842, Leases. The following is a summary of the Company's right-of-use-assets and lease liabilities:
(Millions of Dollars)January 3, 2026December 28, 2024
Right-of-use assets$464.3 $473.4 
Lease liabilities$476.7 $491.8 
Weighted-average incremental borrowing rate
4.7 %4.7 %
Weighted-average remaining term
6 years6 years
Right-of-use assets are included within Other assets in the Consolidated Balance Sheets, while lease liabilities are included within Accrued expenses and Other liabilities, as appropriate. The Company determines its incremental borrowing rate based on interest rates from its debt issuances, taking into consideration adjustments for collateral, lease terms and foreign currency. As of January 3, 2026, $7.2 million of right-of-use assets and $7.0 million of lease liabilities were reclassified to held for sale due to the pending divestiture of the CAM business.
As a result of acquiring right-of-use assets from new leases entered into during the years ended January 3, 2026 and December 28, 2024, the Company's lease liabilities increased approximately $63.6 million and $72.2 million, respectively. The Company has variable rate leases for certain manufacturing facilities, distribution centers and office buildings in which the periodic rental payments vary based on benchmark interest rates.

The following is a summary of the Company's total lease cost for the years ended January 3, 2026, December 28, 2024, and December 30, 2023:
(Millions of Dollars)202520242023
Operating lease cost
$151.8 $139.6 $144.0 
Short-term lease cost31.6 33.0 31.2 
Variable lease cost
4.3 8.3 11.2 
Sublease income
(1.7)(2.5)(3.2)
Total lease cost
$186.0 $178.4 $183.2 

During 2025, 2024, and 2023, the Company paid $133.0 million, $136.9 million, and $128.3 million respectively, relating to leases included in the measurement of its lease liability and right-of-use asset.

The following is a summary of the Company's future lease obligations on an undiscounted basis at January 3, 2026:
(Millions of Dollars)Total20262027202820292030Thereafter
Lease obligations$551.5 $138.8 $111.6 $86.1 $68.7 $50.1 $96.2 

The amounts above include undiscounted future lease obligations related to the pending divestiture of the CAM business totaling $9.4 million, $2.6 million in 2026, $1.3 million in 2027, $1.2 million in 2028, $1.2 million in 2029, $1.3 million in 2030, and $1.8 million thereafter.

The following is a summary of the Company’s future marketing commitments at January 3, 2026:

(Millions of Dollars)Total20262027202820292030Thereafter
Marketing commitments$80.5 $41.1 $19.2 $10.7 $4.9 $4.6 $— 

As of January 3, 2026, the Company had unrecognized commitments that require the future purchase of goods or services (unconditional purchase obligations) to provide it with access to products and services at competitive prices. These obligations consist of supplier agreements with long-term minimum material purchase requirements and freight forwarding arrangements with minimum quantity commitments. The following is a summary of the Company's unconditional purchase obligations related to these agreements at January 3, 2026:
(Millions of Dollars)Total20262027202820292030Thereafter
Supplier agreements$131.4 $59.9 $71.5 $— $— $— $— 

The Company has arrangements with third-party financial institutions that offer voluntary supply chain finance ("SCF") programs. These arrangements enable certain of the Company’s suppliers, at the supplier’s sole discretion, to sell receivables due from the Company to the financial institutions on terms directly negotiated with the financial institutions. The Company negotiates commercial terms with its suppliers, including prices, quantities, and payment terms, regardless of suppliers’ decisions to finance the receivables due from the Company under these SCF programs. The Company has no economic interest in a supplier’s decision to participate in these SCF programs, and no direct financial relationship with the financial institutions, as it relates to these SCF programs. The amounts due to the financial institutions for suppliers that voluntarily participate in these SCF programs were presented within Accounts payable on the Company’s Consolidated Balance Sheets and totaled $349.3 million and $483.6 million as of January 3, 2026 and December 28, 2024, respectively.

The following is a rollforward of the Company's outstanding obligations under its SCF programs for the years ended January 3, 2026 and December 28, 2024:
(Millions of Dollars)20252024
Balance, beginning of year$483.6 $528.1 
Additions1,715.8 2,111.5 
Reductions for payments(1,855.5)(2,153.3)
Foreign currency translation and other5.4 (2.7)
Balance, end of year$349.3 $483.6 

GUARANTEES — The Company's financial guarantees at January 3, 2026 are as follows:
(Millions of Dollars)TermMaximum
Potential
Payment		Carrying
Amount of
Liability
Guarantees on the residual values of leased properties
Four years to nine years
$45.5 $— 
Standby letters of credit
Up to twenty years
177.2 — 
Commercial customer financing arrangements
Up to ten years
106.7 17.8 
Total$329.4 $17.8 

The Company has guaranteed a portion of the residual values associated with certain of its variable rate leases. The lease guarantees are for an amount up to $45.5 million. Fair values of the underlying assets are estimated at $57.1 million. The related assets would be available to satisfy the guarantee obligations.

The Company has issued $177.2 million in standby letters of credit that guarantee future payments which may be required under certain insurance programs and in relation to certain environmental remediation activities described more fully in Note R, Contingencies.

The Company provides various limited and full recourse guarantees to financial institutions that provide financing to U.S. and Canadian Mac Tools distributors and franchisees for their initial purchase of the inventory and trucks necessary to function as a distributor and franchisee. In addition, the Company provides limited and full recourse guarantees to financial institutions that extend credit to certain end retail customers of its U.S. Mac Tools distributors and franchisees. The gross amount guaranteed in these arrangements is $106.7 million and the $17.8 million carrying value of the guarantees issued is recorded in Other liabilities in the Consolidated Balance Sheets.

The Company provides warranties on certain products across its businesses. The types of product warranties offered generally range from one year to limited lifetime. There are also certain products with no warranty. Further, the Company sometimes incurs discretionary costs to service its products in connection with product performance issues. Historical warranty and service claim experience forms the basis for warranty obligations recognized. Adjustments are recorded to the warranty liability as new information becomes available.

The changes in the carrying amount of product warranties for the years ended January 3, 2026, December 28, 2024, and December 30, 2023 are as follows:
(Millions of Dollars)202520242023
Balance beginning of period$140.1 $136.7 $126.6 
Warranties and guarantees issued177.6 180.3 171.3 
Warranty payments and currency(159.9)(176.9)(161.2)
Balance end of period$157.8 $140.1 $136.7 
v3.25.4
CONTINGENCIES
 12 Months Ended
Jan. 03, 2026
Commitments and Contingencies Disclosure [Abstract]  
CONTINGENCIES CONTINGENCIES
The Company is involved in various legal proceedings relating to environmental issues, employment, product liability, workers’ compensation claims and other matters. The Company periodically reviews the status of these proceedings with both inside and outside counsel, as well as an actuary for risk insurance. Management believes that the ultimate disposition of these matters will not have a material adverse effect on operations or financial condition taken as a whole.
Government Litigation
As previously disclosed, on January 19, 2024, the Company was notified by the Compliance and Field Operations Division (the “Division”) of the Consumer Product Safety Commission (“CPSC”) that the Division intended to recommend the imposition of a civil penalty of approximately $32 million for alleged untimely reporting in relation to certain utility bars and miter saws that were subject to voluntary recalls in September 2019 and March 2022, respectively. The Company believes there are defenses to the Division’s claims, and has presented its defenses in a meeting with the Division on February 29, 2024 and in a written submission dated March 29, 2024. On April 1, 2024, the Division informed the Company's counsel that the Division intended to recommend that the CPSC refer the matter to the U.S. Department of Justice (the “DOJ”). On May 1, 2024, the Company was informed that the CPSC voted to refer the matter to the DOJ. In December 2024, the CPSC requested that the Company reproduce documents previously provided to the CPSC following changes to the agency’s electronic file sharing system, and the Company reproduced the requested documents to the CPSC. Counsel for the Company and DOJ met to discuss the parties' positions. On December 22, 2025, DOJ filed suit in the U.S. District Court for the District of Maryland related to the matter, naming Black & Decker (U.S.) Inc. as a defendant. The Company believes that it took timely and appropriate action and intends to vigorously defend itself against the claims brought by DOJ. The Company does not expect that any sum it may have to pay in connection with this matter, including any reserved amount, will have a materially adverse effect on its financial position, results of operations or liquidity.
The Company is committed to upholding the highest standards of corporate governance and is continuously focused on ensuring the effectiveness of its policies, procedures, and controls.
Class Action Litigation
As previously disclosed, on March 24, 2023, a putative class action lawsuit titled Naresh Vissa Rammohan v. Stanley Black & Decker, Inc., et al., Case No. 3:23-cv-00369-KAD (the “Rammohan Class Action”), was filed in the United States District Court for the District of Connecticut against the Company and certain of the Company’s current and former officers and directors (together, "Defendants"). The complaint was filed on behalf of a purported class consisting of all purchasers of Stanley Black & Decker common stock between October 28, 2021 and July 28, 2022, inclusive. The complaint asserted violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 based on allegedly false and misleading statements related to consumer demand for the Company’s products amid changing COVID-19 trends and macroeconomic conditions. The complaint sought unspecified damages and an award of costs and expenses. On October 13, 2023, Lead Plaintiff General Retirement System of the City of Detroit filed an Amended Complaint that asserted the same claims and seeks the same forms of relief as the original complaint. On December 14, 2023, Defendants filed a motion to dismiss the Amended Complaint in its entirety. Briefing on that motion concluded on April 5, 2024. Following the recent decision of the United States Court of Appeals for the Second Circuit in City of Hialeah Employees’ Retirement System v. Peloton Interactive, Inc., No. 24-2803 (2d Cir. 2025), Lead Plaintiff informed Defendants that it wished to further amend its complaint. Pursuant to a stipulation between the parties, so ordered by the District Court on September 30, 2025, Lead Plaintiff provided Defendants with a proposed second amended complaint on October 30, 2025, and Defendants consented to its filing. Lead Plaintiff subsequently filed its Second Amended Complaint on November 14, 2025, asserting the same claims on behalf of the same putative class and seeking the same forms of relief as the prior complaints. Defendants filed a renewed motion to dismiss on December 18, 2025. Lead Plaintiff filed its opposition to Defendants’ renewed motion to dismiss on January 29, 2026, and Defendants filed a reply in support of their renewed motion to dismiss on February 19, 2026. The Company intends to vigorously defend this action in all respects. Given the early stage of this litigation, at this time, the Company is not in a position to assess the likelihood of any potential loss or adverse effect on its financial condition or to estimate the amount or range of potential losses, if any, from this action.
Derivative Actions
As previously disclosed, on August 2, 2023 and September 20, 2023, derivative complaints were filed in the United States District Court for the District of Connecticut, titled Callahan v. Allan, et al., Case No. 3:23-cv-01028-OAW (the “Callahan Derivative Action”) and Applebaum v. Allan, et al., Case No. 3:23-cv-01234-OAW (the “Applebaum Derivative Action”), respectively, by putative stockholders against certain current and former directors and officers of the Company premised on the same allegations as the Rammohan Class Action. The Callahan and Applebaum Derivative Actions were consolidated by Court order on November 6, 2023 and defendants’ responses to both complaints have been stayed pending the disposition of any motions to dismiss in the Rammohan Class Action. The individual defendants intend to vigorously defend the Callahan and Applebaum Derivative Actions in all respects. However, given the early stage of this litigation, at this time, the Company is not in a position to assess the likelihood of any potential loss or adverse effect on its financial condition or to estimate the amount or range of potential losses, if any, from these actions.
As previously disclosed, on October 19, 2023, a derivative complaint was filed in Connecticut Superior Court, titled Vladimir Gusinsky Revocable Trust v. Allan, et al., Docket Number HHBCV236082260S, by a putative stockholder against certain current and former directors and officers of the Company. Plaintiff seeks to recover for alleged breach of fiduciary duties and unjust enrichment under Connecticut state law premised on the same allegations as the Rammohan Class Action. By Court order on November 11, 2023, the Connecticut Superior Court granted the parties’ motion to stay defendants’ response to the complaint pending the disposition of any motions to dismiss in the Rammohan Class Action. The individual defendants intend to vigorously defend this action in all respects. However, given the early stage of this litigation, at this time, the Company is not in a position to assess the likelihood of any potential loss or adverse effect on its financial condition or to estimate the amount or range of potential losses, if any, from this action.
Environmental
In the normal course of business, the Company is a party to administrative proceedings and litigation, before federal and state regulatory agencies, relating to environmental remediation with respect to claims involving the discharge of hazardous substances into the environment, generally at current and former manufacturing facilities. In addition, some of these claims assert that the Company is responsible for damages and liability, for remedial investigation and clean-up costs, with respect to sites that have never been owned or operated by the Company, but the Company has been identified as a potentially responsible party ("PRP").
In connection with the 2010 merger with Black & Decker, the Company assumed certain commitments and contingent liabilities. Black & Decker is a party to litigation and administrative proceedings with respect to claims involving the discharge of hazardous substances into the environment at current and former manufacturing facilities and has also been named as a PRP in certain administrative proceedings.
The Company, along with many other companies, has been named as a PRP in numerous administrative proceedings for the remediation of various waste sites, including 23 active Superfund sites. Current laws potentially impose joint and several liabilities upon each PRP. In assessing its potential liability at these sites, the Company has considered the following: whether responsibility is being disputed, the terms of existing agreements, experience at similar sites, and the Company’s volumetric contribution at these sites.
The Company’s policy is to accrue environmental investigatory and remediation costs for identified sites when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. If no amount in the range of probable loss is considered most likely, the minimum loss in the range is accrued. The amount of liability recorded is based on an evaluation of currently available facts with respect to each individual site and includes such factors as existing technology, presently enacted laws and regulations, and prior experience in remediation of contaminated sites. The liabilities recorded do not take into account any claims for recoveries from insurance or third parties. As assessments and remediation progress at individual sites, the amounts recorded are reviewed periodically and adjusted to reflect additional technical and legal information that becomes available. As of January 3, 2026 and December 28, 2024, the Company had reserves of $259.2 million and $275.4 million, respectively, for remediation activities associated with Company-owned properties, as well as for Superfund sites, for losses that are probable and estimable. Of the January 3, 2026 amount, $69.5 million is classified as current within Accrued expenses and $189.7 million as long-term within Other liabilities, which is expected to be paid over the estimated remediation period. As of January 3, 2026, the Company's net cash obligations, including the WCLC assets discussed below, is $243.6 million. As of January 3, 2026, the range of environmental remediation costs that is reasonably possible is $179.1 million to $395.7 million which is subject to change in the near term. The Company may be liable for environmental remediation of sites it no longer owns. Liabilities have been recorded on those sites in accordance with the Company's policy.
The environmental liability for certain sites with cash payments beyond the current year that are fixed or reliably determinable have been discounted using a rate of 3.6% to 4.7%, depending on the expected timing of disbursements. The discounted and
undiscounted amount of the liability relative to these sites is $74.2 million and $107.7 million, respectively. The payments relative to these sites are expected to be $17.2 million in 2026, $7.3 million in 2027, $7.3 million in 2028, $7.3 million in 2029, $4.1 million in 2030, and $64.5 million thereafter.
West Coast Loading Corporation
As of January 3, 2026, the Company has recorded $15.6 million in Other assets related to funding received by the Environmental Protection Agency (“EPA”) and placed in a trust in accordance with the final settlement with the EPA, embodied in a Consent Decree approved by the United States District Court for the Central District of California on July 3, 2013. Per the Consent Decree, Emhart Industries, Inc. (a dissolved and liquidated former indirectly wholly-owned subsidiary of The Black & Decker Corporation) (“Emhart”) has agreed to be responsible for an interim remedy at a site located in Rialto, California and formerly operated by WCLC, a defunct company for which Emhart was alleged to be liable as a successor. The remedy will be funded by (i) the amounts received from the EPA as gathered from multiple parties, and, to the extent necessary, (ii) Emhart's affiliate. The interim remedy required the construction of a water treatment facility and the treatment of ground water at or around the site for a period of approximately 30 years or more. The construction of the water treatment facility was completed in September 2023, and the treatment of ground water is ongoing. As of January 3, 2026, the Company's net cash obligation associated with these remediation activities, including WCLC assets, is $7.2 million.
Centredale Site
On April 8, 2019, the United States District Court approved a Consent Decree documenting the terms of a settlement between the Company and the United States for reimbursement of EPA's past costs and remediation of environmental contamination found at the Centredale Manor Restoration Project Superfund Site ("Centredale site"), located in North Providence, Rhode Island. Black & Decker and Emhart are liable for site clean-up costs under the Comprehensive Environmental Response, Compensation, and Liability Act ("CERCLA") as successors to the liability of Metro-Atlantic, Inc., a former operator at the Centredale site. The Company is complying with the terms of the settlement and has fully reimbursed the EPA for its past costs. Remediation work at the Centredale site remains ongoing. Technical and regulatory issues have arisen in connection with the disposal methods selected and described in the statement of work for contaminated Centredale site soils and sediment. Emhart’s contractor is working with the EPA and the Rhode Island Department of Environmental Management (“RIDEM”) to develop alternatives. Based on these evolving technical and regulatory discussions, in the second quarter of 2024, the EPA and RIDEM began implementing regulatory changes that suggest that offsite landfill disposal now represents the most probable remedial alternative for the disposal of contaminated Centredale site soils and sediments. Significant open technical and regulatory issues relating to the implementation of this disposal alternative remain, including final EPA and RIDEM approvals, and further developments may result in additional or different remedial actions. Emhart’s contractor’s assessment of the offsite landfill disposal alternative involves soil and sediment volume estimates that could also change or increase as additional design investigations are performed at the site, which may further impact the remediation process. Emhart has entered into a cooperative agreement with the Federal and State Natural Resource Trustees to collectively conduct an assessment of what, if any, Natural Resource Damages may be associated with the contamination at the Centredale Site. That process remains in its very preliminary stages. Litigation continues in the District Court concerning Phase 3 of the case, which is addressing the potential allocation of liability to other PRPs who may have contributed to contamination of the Centredale site with dioxins, polychlorinated biphenyls and other contaminants of concern. Emhart proceeded to trial in a six-week bench trial in Phase 3 on the issue of CERCLA liability against 4 PRPs in October 2024. The Court issued a decision on September 8, 2025, finding all four PRPs liable for contamination at the Site. The litigation will now move to a final allocation phase, Phase 3(B), which will determine each PRP's equitable share of responsibility for the Centredale site investigation, cleanup costs, and other damages caused by the contamination. As of January 3, 2026, the Company has reserved $156.5 million for this site.
Lower Passaic River
The Company, along with over 100 other parties, has been identified as a PRP at Operable Units (“OUs”) 2 and 4 of the Diamond Alkali Superfund Site (the “Site”) pursuant to CERCLA. OU-4 encompasses the 17-mile Lower Passaic River (“LPR”) and OU-2 (which is subsumed within OU-4) consists of the lower 8.3 miles of the LPR. On March 4, 2016, the EPA issued a Record of Decision ("ROD") selecting the remedy for the lower 8.3 miles of the River, which according to the EPA, will cost approximately $1.4 billion. On September 28, 2021, the EPA issued an Interim Remedy ROD for the upper 9 miles of the LPR that the EPA estimates will cost $441 million (net present value).
In March 2017, the EPA announced a plan to commence an allocation process to identify PRPs that may be eligible for a cash out settlement for the remediation costs. As a result of the allocation process, the EPA and certain parties (including the Company) reached an agreement for a cash-out settlement for remediation of the entire 17-mile LPR. On December 16, 2022, the United States lodged a Consent Decree with the United States District Court for the District of New Jersey in United States v. Alden Leeds, Inc. et al. (No. 2:22-cv-07326) that addressed the liability of 85 parties (including the Company) for an aggregate amount of $150 million. On December 18, 2024, the Court granted the United States’ motion to enter the Consent Decree. The Court’s order entering the Consent Decree has been appealed by two parties (Occidental Chemical Company
(“OCC”) and Nokia of America) which were not offered to participate in the settlement. While briefing was ongoing, OCC filed documents with the Court indicating that OCC is now known as Environmental Resource Holdings LCC due to internal reorganization. Nearly a month before OCC’s filing, OCC merged into a new Texas limited liability company named Snowcone, LLC, which then changed its name to Occidental Chemical Company, LLC. Occidental Chemical Company, LLC then executed a divisive merger under Texas law pursuant to which it split into two entities (1) Occidental Chemical Corporation, a Texas corporation (“OCC-Texas”), which retained OCC’s assets and (2) Occidental Chemical Company, LLC, which was stripped of its assets and changed its name to Environmental Resource Holdings LLC. In October 2025, OCC’s then-parent, Occidental Petroleum Corporation agreed to sell 100% of the equity in OCC-Texas to Berkshire Hathaway, Inc. (“Berkshire Hathaway”) for $9.7 billion. The sale of OCC-Texas to Berkshire Hathaway closed on January 2, 2026. The Company’s joint defense group called the Small Parties Group (or “SPG”) is seeking information to determine whether Environmental Resource Holdings LLC, the purported amended appellant as a result of OCC’s internal reorganization, is the proper party to the appeal and is evaluating its options to ensure that the corporate successor (which may include OCC-Texas as well as Environmental Resource Holdings LLC) has the financial resources to satisfy OCC’s liabilities at the LPR. On February 6, 2026, certain members of the SPG (including the Company) filed a complaint in the United States District Court for the District of New Jersey against OCC-Texas requesting that the Court enter a declaratory judgment that OCC-Texas is jointly and severally liable for OCC’s CERCLA liabilities. The appeal of the Court’s opinion granting the United States’ motion to enter the Consent Decree has been fully briefed by the parties. The Company has paid its share of the settlement amount, which currently is held in escrow by the EPA pending the outcome of the appeal.
On June 30, 2018, OCC filed a complaint in the United States District Court for the District of New Jersey against over 100 companies, including the Company, seeking CERCLA cost recovery or contribution for past costs relating to various investigations and cleanups OCC has conducted or is conducting in connection with OU-2 and OU-4 and seeking a declaratory judgment to hold the defendants liable for their proper shares of future response costs for OCC's ongoing activities in connection with the Site, which would include OCC’s Remedial Investigation/Feasibility Study ("RI/FS") in Newark Bay (OU-3 of the Site). The litigation was stayed while the Court considered the Consent Decree and during the appeal discussed above.
The U.S. Army Corps of Engineers and other federal agencies have been conducting a natural resources damage assessment of the LPR. The results of this assessment may be used in the future to support a claim by the federal agencies for natural resource damages against the Company and other PRPs.
At this time, the Company cannot reasonably estimate its liability related to the litigation, remediation efforts and natural resource damages as discussed above, as the OCC litigation is pending, the Court’s opinion granting the United States’ motion to enter the Consent Decree has been appealed, and Newark Bay RI/FS and the natural resource damage assessment are ongoing.
Kerr McGee
Per the terms of a Final Order and Judgment approved by the United States District Court for the Middle District of Florida on January 22, 1991, Emhart is responsible for a percentage of remedial costs arising out of the Kerr McGee Chemical Corporation Superfund Site located in Jacksonville, Florida. On March 15, 2017, the Company received formal notification from the EPA that the EPA had issued a ROD selecting the preferred alternative identified in the Proposed Cleanup Plan. The Multistate Trust managing the remediation provides quarterly projections for the remediation costs for work to be performed, and the Company adjusts the reserve for its percentage share of such costs accordingly. As of January 3, 2026, the Company has reserved $18.8 million for this site.
The amounts recorded for the aforementioned identified contingent liabilities are based on estimates. Amounts recorded are reviewed periodically and adjusted to reflect additional technical and legal information that becomes available. Actual costs to be incurred in future periods may vary from the estimates, given the inherent uncertainties in evaluating certain exposures. Subject to the imprecision in estimating future contingent liability costs, the Company does not expect that any sum it may have to pay in connection with these environmental matters in excess of the amounts recorded will have a materially adverse effect on its financial position, results of operations or liquidity.
v3.25.4
DIVESTITURES
 12 Months Ended
Jan. 03, 2026
Discontinued Operations and Disposal Groups [Abstract]  
DIVESTITURES DIVESTITURES
PENDING DIVESTITURE

Consolidated Aerospace Manufacturing

In December 2025, the Company announced that it had entered into a definitive agreement for the sale of its CAM business for
$1.8 billion in cash as part of the Company's strategic commitment to simplify and streamline its portfolio to focus on its core Tools & Outdoor and Engineered Fastening businesses. The sale is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2026. Based on management's commitment to sell this business, the assets and liabilities related to the CAM business were classified as held for sale on the Company's Consolidated Balance Sheet as of January 3, 2026. This pending divestiture does not qualify for discontinued operations and therefore, its results are included in the Company's continuing operations within the Engineered Fastening segment for all periods presented.
Following is the pre-tax income for this business for the years ended January 3, 2026, December 28, 2024, and December 30, 2023:
(Millions of Dollars)202520242023
Pre-tax income (loss)$29.5 $25.9 $(12.2)

The carrying amounts of the assets and liabilities that were aggregated in assets held for sale and liabilities held for sale as of January 3, 2026 are presented in the following table:

(Millions of Dollars)January 3, 2026
Accounts and notes receivable, net$94.2 
Inventories, net168.0 
Other current assets0.2 
Property, plant and equipment, net117.1 
Goodwill739.4 
Intangibles, net410.1 
Other assets7.3 
Total assets$1,536.3 
Accounts payable and accrued expenses$44.2 
Other long-term liabilities9.4 
Total liabilities$53.6 

2024 DIVESTITURE
Infrastructure
On April 1, 2024, the Company completed the sale of its Infrastructure business to Epiroc AB for $760 million. The Company received proceeds of $728.5 million at closing, net of customary adjustments and costs. This divestiture did not qualify for discontinued operations and therefore, its results were included in the Company's Consolidated Statements of Operations in continuing operations through the date of sale. The pre-tax income for this business was $9.6 million for the fiscal year ended December 28, 2024 and $52.0 million for the fiscal year ended December 30, 2023.
In addition, the Company recognized a pre-tax asset impairment charge of $25.5 million and $150.8 million in the first quarter of 2024 and fourth quarter of 2023, respectively, to adjust the carrying amount of the long-lived assets of the Infrastructure business to its estimated fair value less the costs to sell.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Jan. 03, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Jan. 03, 2026
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Jan. 03, 2026
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management & Strategy
The Company has adopted information security policies that establish requirements and responsibilities with respect to the protection of the Company’s interests and information technology assets against loss, improper disclosure and unauthorized modification. The Company regularly educates and shares best practices with its employees to raise awareness of cybersecurity threats and the Company’s information security program, which the Company believes creates a culture of shared responsibility for the security of sensitive data and the Company’s network. All employees are regularly offered information security and protection training, including specialized training for employees exposed to sensitive information, which prompt them to certify their awareness of and compliance with applicable information technology policies and additional technology and cybersecurity standards. The Company deploys technical safeguards that are designed to protect the Company’s information systems from cybersecurity threats, including firewalls, encryption intrusion prevention and detection systems, anti-malware functionality, data monitoring, endpoint extended detection and response, architecture controls, access controls and ongoing vulnerability assessments.
The Company has adopted a Cybersecurity Incident Response Plan (the “IRP”) that applies in the event of a cybersecurity threat or incident, which is designed to protect the Company’s information systems from cybersecurity threats and to promptly respond to cybersecurity incidents. The IRP sets out a coordinated approach to investigating, containing, documenting and mitigating incidents, including reporting findings and keeping senior management and other key stakeholders informed and involved as appropriate. To facilitate the success of this program, multi-disciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents in accordance with the IRP. Through the ongoing communications among these teams, the CISO, in coordination with the legal department and the Senior Risk Council, monitor the prevention, detection, mitigation and remediation of cybersecurity incidents, and report such incidents to the Audit Committee and the full Board when appropriate, as discussed above. In general, the IRP leverages the National Institute of Standards and Technology guidance. The IRP applies to all Company personnel who provide or deliver technology systems (including employees, contractors and service providers).
As part of the Company’s cybersecurity risk management strategy, the Company takes measures to test and improve its cybersecurity program, including reviewing and updating the information technology policies and IRP, engaging independent third-party consultants to conduct regular assessments of its cyber security maturity against industry best practice frameworks and recommend program enhancements, and conducting tabletop exercises. The Company also engages in internal and external audits to meet its regulatory obligations or customer requirements. The assessment summaries and action plans are shared with the Audit Committee as part of the regular briefings provided by the CIO and CISO, and in turn the Audit Committee Chair regularly updates the full Board on such briefings.
The Company has processes and procedures as part of its centralized supplier risk management system to oversee, identify, assess and reduce cybersecurity threats and risks associated with key third-party service providers. As part of this process, the Company utilizes external frameworks and tools to provide assessment scoring, planning and monitoring against cybersecurity threats and risks and remediation recommendations, as applicable. Updates on third-party service provider risks are included in regular briefings to the Senior Risk Council by the CISO and CIO and escalated to the Audit Committee and the full Board as appropriate.
Cybersecurity Risks, Threats & Incidents
Risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected the Company, including its business strategy, results of operations or financial condition, and the Company does not believe that such risks are reasonably likely to have such an effect over the long term. As of the date of this report, the Company has not experienced a cybersecurity incident or third-party information security breach in the last three fiscal years that has materially affected the Company, including its business strategy, results of operations or financial condition.
The Company deploys measures which it believes leverage industry accepted frameworks to deter, prevent, detect, respond to, and mitigate these threats. The Company has invested and continues to invest in risk management and information security and data protection measures it believes are appropriate to protect its systems and data, including employee and critical service provider training, organizational investments, incident response plans, tabletop exercises and technical defenses. Despite these efforts, cybersecurity incidents (against the Company or parties with whom the Company contracts), depending on their nature and scope, could potentially result in the misappropriation, disclosure, destruction, corruption or unavailability of critical data and confidential or proprietary information (the Company's or that of third parties) and the disruption of business operations. Refer to Item 1A. Risk Factors in Part I of this Annual Report on Form 10-K, which should be read in conjunction with the foregoing information, for additional information on cybersecurity risks the Company faces.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] At the management level, oversight of risks from cybersecurity threats has been integrated into the Company’s overall risk management processes. The Senior Risk Council has broad oversight of the Company’s risk management processes and is also responsible for the assessment and management of risks from cybersecurity threats. The Senior Risk Council is comprised of senior management personnel representing different functional and business areas, including the Chief Executive Officer; Chief Financial Officer & Chief Administrative Officer ("CFO"); General Counsel; Treasurer; and CIO, as well as other senior business leaders. The Company believes the experience that these senior management personnel have from serving on the Senior Risk Council provides them with an understanding of the Company’s risk management processes overall, and individual members are able to provide further insight to the risk analysis process based on their functional area of expertise within the business.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Board of Directors
The Board of Directors (the "Board") has the primary responsibility for oversight of cybersecurity matters. The Audit Committee also monitors cybersecurity risk as part of its oversight of financial risk exposures. The Board regularly reviews compliance and disclosure control procedures for cybersecurity matters. The Board and Audit Committee also receive regular briefings (at least annually) from members of management responsible for cybersecurity and digital risk management for the Company, including the Vice President and Chief Information Officer (the “CIO”), Chief Information Security Officer (the “CISO”) and Senior Vice President, General Counsel and Secretary (the “General Counsel”), as well as third-party cybersecurity advisors, on the Company’s cybersecurity program, including data protection and cybersecurity risks and the Company’s new and existing cyber risk controls intended to mitigate them, as appropriate. The Company has protocols and procedures by which certain cybersecurity incidents are escalated within the Company and, where appropriate, reported promptly to the Audit Committee and the full Board.
Cybersecurity Risk Role of Management [Text Block]
Management
At the management level, oversight of risks from cybersecurity threats has been integrated into the Company’s overall risk management processes. The Senior Risk Council has broad oversight of the Company’s risk management processes and is also responsible for the assessment and management of risks from cybersecurity threats. The Senior Risk Council is comprised of senior management personnel representing different functional and business areas, including the Chief Executive Officer; Chief Financial Officer & Chief Administrative Officer ("CFO"); General Counsel; Treasurer; and CIO, as well as other senior business leaders. The Company believes the experience that these senior management personnel have from serving on the Senior Risk Council provides them with an understanding of the Company’s risk management processes overall, and individual members are able to provide further insight to the risk analysis process based on their functional area of expertise within the business. The CIO also has extensive leadership experience in computer product engineering and information technology fields, including responsibility for overseeing cybersecurity risk management and digital risk management. The CIO also holds a bachelor’s degree in computer science. The Senior Risk Council meets regularly to discuss the risk management measures implemented by the Company, including measures to identify and mitigate data protection and cybersecurity risks and the broader cybersecurity risk landscape. The Senior Risk Council receives regular updates on cybersecurity incidents from the CISO and CIO.
The Company’s CISO is the member of management principally responsible for overseeing the Company’s cybersecurity risk management program, under the CIO's leadership and in coordination with other business leaders across the Company, including legal, product engineering management, internal audit, finance and risk management. The CISO has extensive cybersecurity knowledge and skills gained from over 20 years of technical and business experience in the cybersecurity and information security fields, including as a Chief Information Security Officer and through other leadership and technical roles in IT governance and strategy, security risk and compliance, corporate product security and data privacy, and IT infrastructure. She also holds a Master of Science degree in Information and Cybersecurity from the University of California, Berkeley. The CISO reports directly to the CIO who in turn reports directly to the CFO. The CISO receives reports on cybersecurity threats from members of the Cyber Security Office on an ongoing basis and, in conjunction with the Senior Risk Council, regularly reviews risk management measures implemented by the Company to identify and mitigate data protection and cybersecurity risks. The CISO and CIO also work closely with the Company's legal department to oversee compliance with applicable legal, regulatory and contractual security requirements.
Internal Cybersecurity Team
The Company's Cyber Security Office, led by the CISO, is responsible for monitoring, maintaining and supporting the implementation of cybersecurity governance, operations and data protection practices across the Company. The Information Technology organization, led by the CIO, is responsible for the implementation of cybersecurity technical controls. Reporting to the CISO are a number of experienced information security directors responsible for various parts of the Company’s business, each of whom is supported by a team of trained cybersecurity professionals. The team also holds a number of industry recognized certifications such as Certified Information Systems Security Professional, Certified Information Security Manager, Certified in Risk and Information Systems Control, Certified Information Systems Auditor, Certified Cloud Security Professional, Certified Secure Software Lifecycle Professional, Computer Hacking Forensic Investigator and Certified Ethical Hacker, among others. In addition to its internal cybersecurity capabilities, the Company also regularly engages assessors, consultants, auditors, or other third parties to assist with assessing, identifying, and managing cybersecurity risks.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Senior Risk Council has broad oversight of the Company’s risk management processes and is also responsible for the assessment and management of risks from cybersecurity threats. The Senior Risk Council is comprised of senior management personnel representing different functional and business areas, including the Chief Executive Officer; Chief Financial Officer & Chief Administrative Officer ("CFO"); General Counsel; Treasurer; and CIO, as well as other senior business leaders. The Company believes the experience that these senior management personnel have from serving on the Senior Risk Council provides them with an understanding of the Company’s risk management processes overall, and individual members are able to provide further insight to the risk analysis process based on their functional area of expertise within the business. The CIO also has extensive leadership experience in computer product engineering and information technology fields, including responsibility for overseeing cybersecurity risk management and digital risk management. The CIO also holds a bachelor’s degree in computer science. The Senior Risk Council meets regularly to discuss the risk management measures implemented by the Company, including measures to identify and mitigate data protection and cybersecurity risks and the broader cybersecurity risk landscape. The Senior Risk Council receives regular updates on cybersecurity incidents from the CISO and CIO.
The Company’s CISO is the member of management principally responsible for overseeing the Company’s cybersecurity risk management program, under the CIO's leadership and in coordination with other business leaders across the Company, including legal, product engineering management, internal audit, finance and risk management. The CISO has extensive cybersecurity knowledge and skills gained from over 20 years of technical and business experience in the cybersecurity and information security fields, including as a Chief Information Security Officer and through other leadership and technical roles in IT governance and strategy, security risk and compliance, corporate product security and data privacy, and IT infrastructure. She also holds a Master of Science degree in Information and Cybersecurity from the University of California, Berkeley. The CISO reports directly to the CIO who in turn reports directly to the CFO. The CISO receives reports on cybersecurity threats from members of the Cyber Security Office on an ongoing basis and, in conjunction with the Senior Risk Council, regularly reviews risk management measures implemented by the Company to identify and mitigate data protection and cybersecurity risks. The CISO and CIO also work closely with the Company's legal department to oversee compliance with applicable legal, regulatory and contractual security requirements.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The Company believes the experience that these senior management personnel have from serving on the Senior Risk Council provides them with an understanding of the Company’s risk management processes overall, and individual members are able to provide further insight to the risk analysis process based on their functional area of expertise within the business. The CIO also has extensive leadership experience in computer product engineering and information technology fields, including responsibility for overseeing cybersecurity risk management and digital risk management. The CIO also holds a bachelor’s degree in computer science. The Senior Risk Council meets regularly to discuss the risk management measures implemented by the Company, including measures to identify and mitigate data protection and cybersecurity risks and the broader cybersecurity risk landscape. The Senior Risk Council receives regular updates on cybersecurity incidents from the CISO and CIO.The Company’s CISO is the member of management principally responsible for overseeing the Company’s cybersecurity risk management program, under the CIO's leadership and in coordination with other business leaders across the Company, including legal, product engineering management, internal audit, finance and risk management. The CISO has extensive cybersecurity knowledge and skills gained from over 20 years of technical and business experience in the cybersecurity and information security fields, including as a Chief Information Security Officer and through other leadership and technical roles in IT governance and strategy, security risk and compliance, corporate product security and data privacy, and IT infrastructure. She also holds a Master of Science degree in Information and Cybersecurity from the University of California, Berkeley.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The CISO reports directly to the CIO who in turn reports directly to the CFO. The CISO receives reports on cybersecurity threats from members of the Cyber Security Office on an ongoing basis and, in conjunction with the Senior Risk Council, regularly reviews risk management measures implemented by the Company to identify and mitigate data protection and cybersecurity risks. The CISO and CIO also work closely with the Company's legal department to oversee compliance with applicable legal, regulatory and contractual security requirements.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Jan. 03, 2026
Accounting Policies [Abstract]  
BASIS OF PRESENTATION
BASIS OF PRESENTATION — The Consolidated Financial Statements include the accounts of Stanley Black & Decker, Inc. and its majority-owned subsidiaries (collectively the “Company”) which require consolidation, after the elimination of intercompany accounts and transactions. The Company’s fiscal year ends on the Saturday nearest to December 31. There were 53 weeks in fiscal year 2025 and 52 weeks in fiscal years 2024 and 2023.

In the first quarter of 2025, the Industrial segment was renamed “Engineered Fastening” as a result of a more focused portfolio following recent divestitures. The Engineered Fastening segment name change is to the name only and had no impact on the Company’s consolidated financial statements or segment results.

On December 22, 2025, the Company announced that it had entered into a definitive agreement for the sale of the Consolidated Aerospace Manufacturing ("CAM") business. Based on management's commitment to sell this business, the assets and liabilities related to CAM were classified as held for sale on the Company's Consolidated Balance Sheet as of January 3, 2026. There were no assets or liabilities held for sale relating to CAM as of December 28, 2024. This pending divestiture does not qualify for discontinued operations and therefore, its results are included in the Company's continuing operations for all periods presented.
On April 1, 2024, the Company completed the sale of its Infrastructure business. This divestiture did not qualify for discontinued operations, and therefore, the results of the Infrastructure business were included in the Company's continuing operations through the date of sale.
USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements. While management believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from these estimates.
FOREIGN CURRENCY FOREIGN CURRENCY — For foreign operations with functional currencies other than the U.S. dollar, asset and liability accounts are translated at current exchange rates, while income and expenses are translated using average exchange rates. Translation adjustments are reported in a separate component of shareowners’ equity and exchange gains and losses on transactions are included in earnings.
CASH EQUIVALENTS
CASH EQUIVALENTS — Highly liquid investments with original maturities of three months or less are considered cash equivalents.
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES — Trade receivables are stated at gross invoice amounts less discounts, other allowances and provisions for credit losses. The Company maintains an allowance for credit losses, which represents an estimate of expected losses over the remaining contractual life of its receivables. The allowance is determined using two methods. The amounts calculated from each of these methods are combined to determine the total amount reserved. First, a specific reserve is established for individual accounts where information indicates the customers may have an inability to meet financial obligations. Second, a reserve is determined for all customers based on a range of percentages applied to aging categories. These percentages are based on historical collection rates, write-off experience, and forecasts of future economic conditions. Actual write-offs are charged against the allowance when collection efforts have been unsuccessful.
INVENTORIES
INVENTORIES — U.S. inventories are primarily valued at the lower of Last-In, First-Out (“LIFO”) cost or market because the Company believes it results in better matching of costs and revenues. Other inventories are primarily valued at the lower of First-In, First-Out (“FIFO”) cost and net realizable value because LIFO is not permitted for statutory reporting outside the U.S. Refer to Note C, Inventories, Net, for a quantification of the LIFO impact on inventory valuation.
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT — The Company generally values property, plant and equipment (“PP&E”), including capitalized software, at historical cost less accumulated depreciation and amortization. Costs related to maintenance and repairs which do not prolong the asset's useful life are expensed as incurred. Depreciation and amortization are provided using straight-line methods over the estimated useful lives of the assets as follows:
   Useful Life
(Years)
Land improvements
10 — 20
Buildings40
Machinery and equipment
3 — 15
Computer software
3 — 7
Leasehold improvements are depreciated over the shorter of the estimated useful life or the term of the lease.
The Company reports depreciation and amortization of property, plant and equipment in cost of sales and selling, general and administrative expenses based on the nature of the underlying assets. Depreciation and amortization related to the production of inventory and delivery of services are recorded in cost of sales. Depreciation and amortization related to distribution center activities, selling and support functions are reported in selling, general and administrative expenses.
The Company assesses its long-lived assets for impairment when indicators that the carrying amounts may not be recoverable are present. In assessing long-lived assets for impairment, the Company groups its long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are generated (“asset group”) and estimates the undiscounted future cash flows that are directly associated with, and expected to be generated from, the use of and eventual disposition of the asset group. If the carrying value is greater than the undiscounted cash flows, an impairment loss must be determined and the asset group is written down to fair value. The impairment loss is quantified by comparing the carrying amount of the asset group to the estimated fair value, which is generally determined using weighted-average discounted cash flows that consider various possible outcomes for the disposition of the asset group.
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS — Goodwill represents costs in excess of values assigned to the underlying net assets of acquired businesses. Intangible assets acquired are recorded at estimated fair value. Goodwill and intangible assets deemed to have indefinite lives are not amortized, but are tested for impairment annually during the third quarter, and at any time when events suggest an impairment more likely than not has occurred.
To assess goodwill for impairment, the Company, depending on relevant facts and circumstances, performs either a qualitative assessment or a quantitative analysis utilizing a discounted cash flow valuation model. In performing a qualitative assessment, the Company first assesses relevant factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative goodwill impairment test. The Company identifies and considers the significance of relevant key factors, events, and circumstances that could affect the fair value of each reporting unit. These factors include external factors such as macroeconomic, industry, and market conditions, as well as entity-specific factors, such as actual and planned financial performance. The Company also considers changes in each reporting unit's fair value and carrying amount since the most recent date a fair value measurement was performed. In performing a quantitative analysis, the Company determines the fair value of a reporting unit using management’s assumptions about future cash flows based on long-range strategic plans. This approach incorporates many assumptions including discount rates, future growth rates and expected profitability. In the event the carrying amount of a reporting unit exceeded its fair value, an impairment loss would be recognized.
Indefinite-lived intangible assets are tested for impairment utilizing either a qualitative assessment or a quantitative analysis. For a qualitative assessment, the Company identifies and considers relevant key factors, events, and circumstances to determine whether it is necessary to perform a quantitative impairment test. The key factors considered include macroeconomic, industry, and market conditions, as well as the asset's actual and forecasted results. For the quantitative impairment tests, the Company compares the carrying amounts to the current fair market values, usually determined by the estimated royalty savings attributable to owning the intangible assets.
Intangible assets with definite lives are amortized over their estimated useful lives to reflect the pattern over which the economic benefits of the intangible assets are consumed. Definite-lived intangible assets are also evaluated for impairment when impairment indicators are present. If the carrying amount exceeds the total undiscounted future cash flows, a discounted cash flow analysis is performed to determine the fair value of the asset. If the carrying amount of the asset was to exceed the fair value, it would be written down to fair value.
Refer to Note E, Goodwill And Intangible Assets, for further discussion of the 2025 impairment charges related to the Lenox, Troy-Bilt, and Irwin indefinite-lived trade names and the 2024 impairment charge related to Lenox. Refer to Note S, Divestitures, for further discussion of the 2024 goodwill impairment charges related to the Infrastructure business.
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS — Derivative financial instruments are employed to manage risks, including foreign currency, interest rate exposures and commodity prices and are not used for trading or speculative purposes. As part of the Company’s risk management program, a variety of financial instruments such as interest rate swaps, currency swaps, purchased currency options, foreign exchange contracts and commodity contracts, may be used to mitigate interest rate exposure, foreign currency exposure and commodity price exposure. The Company recognizes all derivative instruments on the balance sheet at fair value.

Changes in the fair value of derivatives are recognized periodically either in earnings or in shareowners’ equity as a component of other comprehensive income (loss) ("OCI"), depending on whether the derivative financial instrument is undesignated or qualifies for hedge accounting, and if so, whether it represents a fair value, cash flow, or net investment hedge. Changes in the fair value of derivatives accounted for as fair value hedges are recorded in earnings in the same caption as the changes in the fair value of the hedged items. Gains and losses on derivatives designated as cash flow hedges, to the extent they are included in the assessment of effectiveness, are recorded in OCI and subsequently reclassified to earnings to offset the impact of the hedged items when they occur. In the event it becomes probable the forecasted transaction to which a cash flow hedge relates will not occur, the derivative would be terminated and the amount in accumulated other comprehensive income (loss) would be recognized in earnings. Changes in the fair value of derivatives that are designated and qualify as a hedge of the net investment in foreign operations, to the extent they are included in the assessment of effectiveness, are reported in OCI and are deferred until disposal of the underlying assets. Gains and losses representing components excluded from the assessment of effectiveness for cash flow and fair value hedges are recognized in earnings on a straight-line basis in the same caption as the hedged item over the term of the hedge. Gains and losses representing components excluded from the assessment of effectiveness for net investment hedges are recognized in earnings on a straight-line basis in Other, net over the term of the hedge.

The net interest paid or received on interest rate swaps is recognized as interest expense. Gains and losses resulting from the early termination of interest rate swap agreements are deferred and amortized as adjustments to interest expense over the remaining period of the debt originally covered by the terminated swap.
Changes in the fair value of derivatives not designated as hedges are reported in Other, net in the Consolidated Statements of Operations. Refer to Note H, Financial Instruments, for further discussion.
REVENUE RECOGNITION AND SHIPPING AND HANDLING COSTS
REVENUE RECOGNITION — The Company’s revenues result from the sale of goods or services and reflect the consideration to which the Company expects to be entitled. The Company records revenue based on a five-step model in accordance with Accounting Standards Codification 606, Revenue from Contracts with Customers ("ASC 606"). For its contracts with customers, the Company identifies the performance obligations (goods or services), determines the transaction price, allocates the contract transaction price to the performance obligations, and recognizes the revenue when (or as) the performance obligation is transferred to the customer. A good or service is transferred when (or as) the customer obtains control of that good or service. The majority of the Company’s revenues are recorded at a point in time from the sale of tangible products.

Provisions for customer volume rebates, product returns, discounts and allowances are variable consideration and are recorded as a reduction of revenue in the same period the related sales are recorded. Such provisions are calculated using historical averages adjusted for any expected changes due to current business conditions. Consideration given to customers for cooperative advertising is recognized as a reduction of revenue except to the extent that there is a distinct good or service and evidence of the fair value of the advertising, in which case the expense is classified as selling, general, and administrative expense.

For performance obligations that the Company satisfies over time, revenue is recognized by consistently applying a method of measuring progress toward complete satisfaction of that performance obligation. The Company utilizes the method that most accurately depicts the progress toward completion of the performance obligation.

Contract assets or liabilities result from transactions with revenue recorded over time. If the measure of remaining rights exceeds the measure of the remaining performance obligations, the Company records a contract asset. Conversely, if the measure of the remaining performance obligations exceeds the measure of the remaining rights, the Company records a contract liability.

Incremental costs of obtaining or fulfilling a contract with a customer that are expected to be recovered are recognized and classified in Other current assets or Other assets in the Consolidated Balance Sheets and are typically amortized over the
contract period. The Company recognizes the incremental costs of obtaining or fulfilling a contract as expense when incurred if the amortization period of the asset is one year or less.
Customer billings for services not yet rendered are deferred and recognized as revenue as the services are rendered. The associated deferred revenue is included in Accrued expenses or Other liabilities, as appropriate, in the Consolidated Balance Sheets.SHIPPING AND HANDLING COSTS — The Company generally does not bill customers for freight. Shipping and handling costs associated with inbound and outbound freight are reported in Cost of sales.
COST OF SALES AND SELLING, GENERAL & ADMINISTRATIVE
COST OF SALES AND SELLING, GENERAL & ADMINISTRATIVE — Cost of sales includes the cost of products and services provided, reflecting costs of manufacturing and preparing the product for sale. These costs include expenses to acquire and manufacture products to the point that they are allocable to be sold to customers and costs to perform services pertaining to service revenues. Cost of sales is primarily comprised of freight, direct materials, direct labor as well as overhead which includes indirect labor and facility and equipment costs. Cost of sales also includes quality control, procurement and material receiving costs as well as internal transfer costs. Selling, general & administrative costs ("SG&A") include the cost of selling products as well as administrative function costs. These expenses generally represent the cost of selling and distributing the products once they are available for sale and primarily include salaries and commissions of the Company’s sales force, distribution costs, notably salaries and facility costs, as well as administrative expenses for certain support functions and related overhead.
ADVERTISING COSTS ADVERTISING COSTS — Television advertising is expensed the first time the advertisement airs, whereas other advertising is expensed as incurred.
SALES TAXES
SALES TAXES — Sales and value added taxes collected from customers and remitted to governmental authorities are excluded from Net Sales reported in the Consolidated Statements of Operations.
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION — Compensation cost relating to stock-based compensation grants is recognized on a straight-line basis over the vesting period, which is generally three or four years. The expense for stock options and restricted stock units awarded to retirement-eligible employees is recognized on the grant date, or (if later) by the date they become retirement-eligible. Retirement eligible is defined as those (i) age 55 and with 10 years of service for awards granted before February 14, 2023, and (ii) the earlier of age 55 and with 10 years of service or age 65 and with 1 year of service for awards granted thereafter.
POSTRETIREMENT DEFINED BENEFIT PLANS
POSTRETIREMENT DEFINED BENEFIT PLANS — The Company uses the corridor approach to determine expense recognition for each defined benefit pension and other postretirement plan. The corridor approach defers actuarial gains and losses resulting from variances between actual and expected results (based on economic estimates or actuarial assumptions) and amortizes them over future periods. For pension plans, these unrecognized gains and losses are amortized when the net gains and losses exceed 10% of the greater of the market-related value of plan assets or the projected benefit obligation at the beginning of the year. For other postretirement benefits, amortization occurs when the net gains and losses exceed 10% of the accumulated postretirement benefit obligation at the beginning of the year. For ongoing, active plans, the amount in excess of the corridor is amortized on a straight-line basis over the average remaining service period for active plan participants. For plans with primarily inactive participants, the amount in excess of the corridor is amortized on a straight-line basis over the average remaining life expectancy of inactive plan participants.
The Company measures defined benefit plan assets and obligations as of the end of the calendar month closest to its fiscal year end as the alternative measurement date in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2015-04, Compensation Retirement Benefit (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Asset.
INCOME TAXES
INCOME TAXES — The Company accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using the enacted tax rates in effect for the
year in which the differences are expected to reverse. Any changes in tax rates on deferred tax assets and liabilities are recognized in income in the period that includes the enactment date. The Company recognizes the tax on global intangible low-taxed income as a period expense in the period the tax is incurred.

The Company records net deferred tax assets to the extent that it is more likely than not that these assets will be realized. In making this determination, management considers all available positive and negative evidence, including future reversals of existing temporary differences, estimates of future taxable income, tax-planning strategies, and the realizability of net operating loss carryforwards. In the event that it is determined that an asset is not more likely than not to be realized, a valuation allowance is recorded against the asset. Valuation allowances related to deferred tax assets can be impacted by changes to tax laws, changes to statutory tax rates and future taxable income levels. In the event the Company were to determine that it would not be able to realize all or a portion of its deferred tax assets in the future, the unrealizable amount would be charged to earnings in the period in which that determination is made. Conversely, if the Company were to determine that it would be able to realize deferred tax assets in the future in excess of the net carrying amounts, it would decrease the recorded valuation allowance through a favorable adjustment to earnings in the period that the determination was made. The Company records uncertain tax positions in accordance with ASC 740, which requires a two-step process. First, management determines whether it is more likely than not that a tax position will be sustained based on the technical merits of the position and second, for those tax positions that meet the more likely than not threshold, management recognizes the largest amount of the tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related taxing authority. The Company maintains an accounting policy of recording interest and penalties on uncertain tax positions as a component of Income taxes on continuing operations in the Consolidated Statements of Operations.
The Company is subject to income tax in a number of locations, including U.S. federal, state and foreign jurisdictions. Significant judgment is required when calculating the worldwide provision for income taxes. Many factors are considered when evaluating and estimating the Company's tax positions and tax benefits, which may require periodic adjustments, and which may not accurately anticipate actual outcomes. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company's unrecognized tax positions will significantly increase or decrease within the next twelve months. These changes may be the result of settlements of ongoing audits, litigation, or other proceedings with taxing authorities. The Company periodically assesses its liabilities and contingencies for all tax years still subject to audit based on the most current available information, which involves inherent uncertainty.
EARNINGS PER SHARE
EARNINGS PER SHARE — Basic earnings per share equals net earnings attributable to common shareowners divided by weighted-average shares outstanding during the year. Diluted earnings per share include the impact of common stock equivalents using the treasury stock method or the if-converted method, as applicable, when the effect is dilutive.
NEW ACCOUNTING STANDARDS ADOPTED AND RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET ADOPTED
NEW ACCOUNTING STANDARDS ADOPTED — In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The new standard was issued to improve transparency and decision usefulness of income tax disclosures by providing information that helps investors better understand how an entity’s operations, tax risks, tax planning and operational opportunities affect its tax rate and prospects for future cash flows. The amendments in this update primarily relate to requiring greater disaggregated disclosure of information in the rate reconciliation, income taxes paid, income (loss) before income tax expense (benefit), and income tax expense (benefit). The ASU is effective for fiscal years beginning after December 15, 2024. The standard can be applied prospectively or retrospectively. The Company adopted this standard in fiscal year 2025 on a prospective basis and included the required disclosures in Note P, Income Taxes.
RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET ADOPTED — In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this update require disclosure and further disaggregation, in the notes to financial statements, of specified information about certain costs and expenses. The required disclosures include the amounts of purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depreciation, depletion, and amortization recognized as part of oil and gas producing activities included in each relevant expense caption. Additionally, further disclosures are required for certain amounts already required to be disclosed under current GAAP, a qualitative description of amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, and the total amount of selling expenses, and on an annual basis, the definition of selling expenses. The ASU is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027. Early adoption is permitted. The standard can be applied prospectively or retrospectively. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements.
v3.25.4
SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Jan. 03, 2026
Accounting Policies [Abstract]  
Schedule of Depreciation and Amortization Depreciation and amortization are provided using straight-line methods over the estimated useful lives of the assets as follows:
   Useful Life
(Years)
Land improvements
10 — 20
Buildings40
Machinery and equipment
3 — 15
Computer software
3 — 7
(Millions of Dollars)January 3, 2026December 28, 2024
Land$104.8 $132.0 
Land improvements67.2 55.2 
Buildings845.1 805.1 
Leasehold improvements195.3 205.0 
Machinery and equipment3,348.7 3,402.1 
Computer software592.1 529.6 
Property, plant & equipment, gross$5,153.2 $5,129.0 
Less: accumulated depreciation and amortization(3,321.4)(3,094.7)
Property, plant & equipment, net$1,831.8 $2,034.3 
v3.25.4
ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)
 12 Months Ended
Jan. 03, 2026
Receivables [Abstract]  
Schedule of Accounts and Notes Receivable
(Millions of Dollars)January 3, 2026December 28, 2024
Trade accounts receivable$775.0 $950.4 
Notes receivable68.0 65.9 
Other accounts receivable145.3 222.1 
Accounts and notes receivable988.3 1,238.4 
Allowance for credit losses(68.6)(84.7)
Accounts and notes receivable, net$919.7 $1,153.7 
Schedule of Changes in Allowance for Credit Losses
The changes in the allowance for credit losses for the years ended January 3, 2026 and December 28, 2024 are as follows:
(Millions of Dollars)20252024
Balance beginning of period$84.7 $76.6 
Charged to costs and expenses18.4 22.2 
Other, including recoveries and deductions (a)(34.5)(14.1)
Balance end of period$68.6 $84.7 
(a) Amounts represent charge-offs less recoveries, the impacts of foreign currency translation, divestitures and net transfers to/from other accounts.
v3.25.4
INVENTORIES, NET (Tables)
 12 Months Ended
Jan. 03, 2026
Inventory Disclosure [Abstract]  
Schedule of Components of Inventories
(Millions of Dollars)January 3, 2026December 28, 2024
Finished products$2,919.8 $2,943.5 
Work in process174.3 346.3 
Raw materials1,063.0 1,246.6 
Total$4,157.1 $4,536.4 
v3.25.4
PROPERTY, PLANT AND EQUIPMENT (Tables)
 12 Months Ended
Jan. 03, 2026
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment, Net Depreciation and amortization are provided using straight-line methods over the estimated useful lives of the assets as follows:
   Useful Life
(Years)
Land improvements
10 — 20
Buildings40
Machinery and equipment
3 — 15
Computer software
3 — 7
(Millions of Dollars)January 3, 2026December 28, 2024
Land$104.8 $132.0 
Land improvements67.2 55.2 
Buildings845.1 805.1 
Leasehold improvements195.3 205.0 
Machinery and equipment3,348.7 3,402.1 
Computer software592.1 529.6 
Property, plant & equipment, gross$5,153.2 $5,129.0 
Less: accumulated depreciation and amortization(3,321.4)(3,094.7)
Property, plant & equipment, net$1,831.8 $2,034.3 
v3.25.4
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Jan. 03, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill by Segment The changes in the carrying amount of goodwill by segment are as follows:
 
(Millions of Dollars)Tools & Outdoor
Engineered Fastening
Total
Balance December 30, 2023$5,976.3 $2,019.6 $7,995.9 
Foreign currency translation and other(67.1)(23.3)(90.4)
Balance December 28, 2024$5,909.2 $1,996.3 $7,905.5 
Foreign currency translation and other116.1 5.7 121.8 
Reclassification to assets held for sale— (739.4)(739.4)
Balance January 3, 2026$6,025.3 $1,262.6 $7,287.9 
Schedule of Definite-Lived Intangible Assets Definite-lived intangible assets at January 3, 2026 and December 28, 2024 were as follows:
 
 20252024
(Millions of Dollars)Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Amortized Intangible Assets — Definite-lived
Patents and copyrights$27.1 $(27.1)$25.3 $(25.2)
Trade names197.5 (134.1)222.0 (134.0)
Customer relationships2,014.1 (1,247.4)2,550.7 (1,257.3)
Other intangible assets130.8 (129.7)129.8 (127.9)
Total$2,369.5 $(1,538.3)$2,927.8 $(1,544.4)
Schedule of Intangible Assets Amortization Expense by Segment
Intangible assets amortization expense by segment was as follows:
(Millions of Dollars)202520242023
Tools & Outdoor$96.6 $101.6 $103.1 
Engineered Fastening50.2 61.6 89.6 
Consolidated$146.8 $163.2 $192.7 
v3.25.4
ACCRUED EXPENSES (Tables)
 12 Months Ended
Jan. 03, 2026
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
(Millions of Dollars)January 3, 2026December 28, 2024
Payroll and related taxes$269.0 $329.8 
Income and other taxes115.5 231.1 
Customer rebates and sales returns381.7 353.2 
Insurance and benefits77.8 75.3 
Restructuring costs47.8 34.7 
Derivative financial instruments28.5 11.8 
Warranty costs 129.5 113.7 
Deferred revenue27.3 31.3 
Freight costs128.3 139.6 
Environmental costs69.5 51.4 
Current lease liability133.1 126.6 
Accrued interest55.3 71.6 
Other414.8 409.2 
Total$1,878.1 $1,979.3 
v3.25.4
LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)
 12 Months Ended
Jan. 03, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt and Financing Arrangements
January 3, 2026December 28, 2024
(Millions of Dollars)Interest RateNotional Value
Carrying Value1
Carrying Value1
Notes payable due 20252.30%$— $— $499.9 
Notes payable due 20263.40%500.0 499.9 499.4 
Notes payable due 20266.27%— — 349.3 
Notes payable due 20263.42%25.0 25.2 25.7 
Notes payable due 20261.84%29.3 29.5 26.7 
Notes payable due 20286.00%400.0 398.7 398.0 
Notes payable due 20287.05%150.0 155.3 157.5 
Notes payable due 20284.25%500.0 498.6 498.3 
Notes payable due 20283.52%50.0 51.7 52.4 
Notes payable due 20302.30%750.0 746.8 746.2 
Notes payable due 20323.00%500.0 497.2 496.6 
Notes payable due 20405.20%400.0 376.3 374.5 
Notes payable due 20484.85%500.0 495.4 495.2 
Notes payable due 20502.75%750.0 741.4 741.0 
Notes payable due 2060 (junior subordinated)2
6.71%750.0 741.9 741.6 
Other, payable due 20264.31%0.2 0.2 0.7 
Total long-term debt, including current maturities$5,304.5 $5,258.1 $6,103 
Less: Current maturities of long-term debt(554.8)(500.4)
Long-term debt$4,703.3 $5,602.6 
1Carrying values are net of unamortized discounts of $(4.1) million, deferred issuance costs of $(28.2) million, unamortized terminated swaps of $(18.9) million, and purchase accounting fair value adjustments of $4.8 million. Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note H, Financial Instruments.
2In accordance with the terms of Note payable due 2060, the interest rate was reset as of March 2025, to 6.71%, from 4.00% as of the year ended December 28, 2024.
v3.25.4
FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Jan. 03, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Company’s Derivatives
A summary of the fair values of the Company’s derivatives recorded in the Consolidated Balance Sheets at January 3, 2026 and December 28, 2024 is as follows:
(Millions of Dollars)Balance Sheet
Classification		20252024Balance Sheet
Classification		20252024
Derivatives designated as hedging instruments:
Foreign Exchange Contracts Cash FlowOther current assets$1.4 $23.7 Accrued expenses$10.0 $0.9 
Net Investment HedgeOther current assets2.9 — Accrued expenses9.3 — 
Non-derivative designated as hedging instrument:
Net Investment Hedge$— $— Short-term borrowings$555.6 $— 
Total Designated as hedging instruments$4.3 $23.7 $574.9 $0.9 
Derivatives not designated as hedging instruments:
Foreign Exchange ContractsOther current assets$5.0 $8.9 Accrued expenses$9.2 $10.9 
Total$9.3 $32.6 $584.1 $11.8 
Schedule of Detail Pre-tax Amounts of derivatives designated in Accumulated Other Comprehensive Loss into Earnings
The tables below detail pre-tax amounts of derivatives designated as cash flow hedges in Accumulated other comprehensive loss during the periods in which the underlying hedged transactions affected earnings for 2025, 2024 and 2023: 
2025 (Millions of Dollars)
Gain (Loss)
Recorded in OCI		Classification of
Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Recognized in
Income on Amounts Excluded from Effectiveness Testing
Interest Rate Contracts$— Interest expense$(4.9)$— 
Foreign Exchange Contracts$(39.6)Cost of sales$1.2 $— 
 
2024 (Millions of Dollars)
Gain (Loss) 
Recorded in OCI		Classification of
Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Recognized in
Income on Amounts Excluded from Effectiveness Testing
Interest Rate Contracts$— Interest expense$(6.1)$— 
Foreign Exchange Contracts$30.8 Cost of sales$2.0 $— 
2023 (Millions of Dollars)
Gain (Loss) 
Recorded in OCI		Classification of
Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing
Interest Rate Contracts$— Interest expense$(6.1)$— 
Foreign Exchange Contracts$(4.3)Cost of sales$(0.6)$— 

A summary of the pre-tax effect of cash flow hedge accounting on the Consolidated Statements of Operations for 2025, 2024 and 2023 is as follows:
202520242023
(Millions of Dollars)Cost of SalesInterest ExpenseCost of SalesInterest ExpenseCost of SalesInterest Expense
Total amount in the Consolidated Statements of Operations in which the effects of the cash flow hedges are recorded$10,542.1 $516.3 $10,851.3 $498.6 $11,848.5 $559.4 
Gain (loss) on cash flow hedging relationships:
Foreign Exchange Contracts:
Hedged Items$(1.2)$— $(2.0)$— $0.6 $— 
Gain (loss) reclassified from OCI into Income$1.2 $2.0 $— $(0.6)$— 
Interest Rate Swap Agreements:
Gain (loss) reclassified from OCI into Income 1
$— $(4.9)$— $(6.1)$— $(6.1)
1 Inclusive of the gain/loss amortization on terminated derivative financial instruments.
Schedule of Fair Value Hedge on Consolidated Statements of Operations and Comprehensive Income (Loss)
A summary of the pre-tax effect of fair value hedge accounting on the Consolidated Statements of Operations for 2025, 2024 and 2023 is as follows:
202520242023
(Millions of Dollars)Interest ExpenseInterest ExpenseInterest Expense
Total amount in the Consolidated Statements of Operations in which the effects of the fair value hedges are recorded$516.3 $498.6 $559.4 
Amortization of gain on terminated swaps$(0.4)$(0.4)$(0.4)

A summary of the amounts recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of January 3, 2026 and December 28, 2024 is as follows:

(Millions of Dollars)
2025 Carrying Amount of Hedged Liability1
2025 Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability
Current maturities of long-term debt$554.8 Terminated Swaps$— 
Long-Term Debt$531.6 Terminated Swaps$(18.9)
1Represents hedged items no longer designated in qualifying fair value hedging relationships.
(Millions of Dollars)
2024 Carrying Amount of Hedged Liability1
2024 Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability
Current maturities of long-term debt$500.4 Terminated Swaps$— 
Long-Term Debt$532.0 Terminated Swaps$(19.3)
1Represents hedged items no longer designated in qualifying fair value hedging relationships.
Schedule of Pre-Tax Gain or Loss from Fair Value Change
The pre-tax gain or loss from fair value changes during 2025, 2024 and 2023 were as follows:

2025
(Millions of Dollars)Total Gain (Loss) Recorded in OCIExcluded Component Recorded in OCIIncome Statement ClassificationTotal Gain (Loss) Reclassified from OCI to IncomeExcluded Component Amortized from OCI to Income
Forward Contracts$1.0 $— Other, net$— $— 
Cross Currency Swap$(4.4)$— Other, net$4.3 $(4.3)
Non-derivative designated as Net Investment Hedge$(31.2)$— Other, net$— $— 

2024
(Millions of Dollars)Total Gain (Loss) Recorded in OCIExcluded Component Recorded in OCIIncome Statement ClassificationTotal Gain (Loss) Reclassified from OCI to IncomeExcluded Component Amortized from OCI to Income
Forward Contracts$(0.5)$— Other, net$— $— 
Non-derivative designated as Net Investment Hedge$18.6 $— Other, net$— $— 

2023
(Millions of Dollars)Total Gain (Loss) Recorded in OCIExcluded Component Recorded in OCIIncome Statement ClassificationTotal Gain (Loss) Reclassified from OCI to IncomeExcluded Component Amortized from OCI to Income
Forward Contracts$0.4 $— Other, net$— $— 
Non-derivative designated as Net Investment Hedge$(12.0)$— Other, net$— $— 
Schedule of Gain (Loss) from Changes in Fair Value Related to Derivatives Not Designated as Hedging Instruments The gain (loss) recorded in the Consolidated Statements of Operations from changes in the fair value related to derivatives not designated as hedging instruments under ASC 815 for 2025, 2024 and 2023 is as follows:
(Millions of Dollars)Income Statement
Classification		202520242023
Foreign Exchange ContractsOther-net$(20.5)$(0.9)$(33.7)
v3.25.4
CAPITAL STOCK (Tables)
 12 Months Ended
Jan. 03, 2026
Equity [Abstract]  
Schedule of Net Earnings (Loss) Attributable to Common Shareowners and Weighted-Average Shares outstanding The following table reconciles net earnings (loss) and the weighted-average shares outstanding used to calculate basic and diluted earnings (loss) per share for the fiscal years ended January 3, 2026, December 28, 2024, and December 30, 2023.
202520242023
Numerator (in millions):
Net earnings (loss) from continuing operations$401.9 $286.3 $(281.7)
Net earnings (loss) from discontinued operations— 8.0 (28.8)
Net Earnings (Loss)$401.9 $294.3 $(310.5)
202520242023
Denominator (in thousands):
Basic weighted-average shares outstanding151,258 150,485 149,751 
Dilutive effect of stock contracts and awards620 812 — 
Diluted weighted-average shares outstanding151,878 151,297 149,751 

202520242023
Earnings (loss) per share of common stock:
Basic earnings (loss) per share of common stock:
Continuing operations$2.66 $1.90 $(1.88)
Discontinued operations$— $0.05 $(0.19)
Total basic earnings (loss) per share of common stock$2.66 $1.96 $(2.07)
Diluted earnings (loss) per share of common stock:
Continuing operations$2.65 $1.89 $(1.88)
Discontinued operations$— $0.05 $(0.19)
Total diluted earnings (loss) per share of common stock$2.65 $1.95 $(2.07)
Schedule of Weighted-Average Stock Options Not Included in Computation of Weighted-Average Diluted Shares Outstanding
The following weighted-average stock options were not included in the computation of weighted-average diluted shares outstanding because the effect would be anti-dilutive (in thousands):
202520242023
Number of stock options6,234 5,141 5,406 
Schedule of Common Stock Share Activity Common stock activity for 2025, 2024 and 2023 was as follows:
202520242023
Outstanding, beginning of year154,372,933 153,620,088 152,983,530 
Issued from treasury921,552 960,437 817,110 
Returned to treasury(258,074)(207,592)(180,552)
Outstanding, end of year155,036,411 154,372,933 153,620,088 
Shares subject to the forward share purchase contract(3,645,510)(3,645,510)(3,645,510)
Outstanding, less shares subject to the forward share purchase contract151,390,901 150,727,423 149,974,578 
Schedule of Common Stock Shares Reserved for Issuance Under Various Employee and Director Stock Plans Common stock shares reserved for issuance under various employee and director stock plans at January 3, 2026 and December 28, 2024 are as follows:
 
20252024
Employee stock purchase plan794,421 921,982 
Other stock-based compensation plans3,861,648 5,869,501 
Total shares reserved4,656,069 6,791,483 
Schedule of Weighted Average Assumptions Used to Value Grants The following weighted-average assumptions were used to value grants made in 2025, 2024 and 2023:
202520242023
Average expected volatility38.9 %38.0 %39.1 %
Dividend yield3.7 %3.6 %3.6 %
Risk-free interest rate4.2 %4.2 %4.0 %
Expected life5.0 years5.0 years5.0 years
Fair value per option$25.42 $25.25 $26.05 
Weighted-average vesting period2.0 years2.0 years1.9 years
Schedule of Number of Stock Options and Weighted-average Exercise Prices
The number of stock options and weighted-average exercise prices as of January 3, 2026 are as follows:
 OptionsPrice
Outstanding, December 28, 20245,918,571 $128.59 
Granted794,826 88.36 
Exercised(13,603)77.83 
Forfeited(771,718)109.38 
Outstanding, January 3, 20265,928,076 $125.81 
Exercisable, January 3, 20264,683,215 $135.62 
Schedule of Outstanding and Exercisable Stock Option
Outstanding and exercisable stock option information at January 3, 2026 follows:
 Outstanding Stock OptionsExercisable Stock Options
Exercise Price RangesOptionsWeighted-
Average
Remaining
Contractual Life		Weighted-
Average
Exercise Price		OptionsWeighted-
Average
Remaining
Contractual Life		Weighted-
Average
Exercise Price
$90.00 and below
1,985,945 8.09$85.52 909,914 7.30$81.96 
90.01 — 155.00
2,362,208 3.78123.17 2,193,378 3.52125.62 
155.01 — higher
1,579,923 4.15180.41 1,579,923 4.15180.41 
5,928,076 5.32$125.81 4,683,215 4.47$135.62 
Schedule of Non-Vested Restricted Share Units and Activity Pertaining to Maximum Number of Shares that may be Issued
A summary of non-vested restricted share units and award activity as of January 3, 2026, and changes during the year then ended is as follows:
Restricted Share
Units & Awards		Weighted-Average
Grant
Date Fair Value
Non-vested at December 28, 20241,479,983 $95.44 
Granted881,316 84.31 
Vested(762,210)96.42 
Forfeited(216,830)96.11 
Non-vested at January 3, 20261,382,259 $87.70 
A summary of the activity pertaining to the maximum number of shares that may be issued is as follows:
LTIP UnitsWeighted-Average
Grant
Date Fair Value
Non-vested at December 28, 20241,019,148 $96.50 
Granted463,348 85.79 
Vested— — 
Forfeited(403,752)121.00 
Non-vested at January 3, 20261,078,744 $82.73 
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 12 Months Ended
Jan. 03, 2026
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Changes in Balances to Components of Accumulated Other Comprehensive Loss
The following table summarizes the changes in the accumulated balances for each component of Accumulated other comprehensive loss:
(Millions of Dollars)Currency translation adjustment and other Cash flow hedges, net of taxNet investment hedges, net of taxPension and other postretirement benefits, net of taxTotal
Balance - December 30, 2023$(1,832.3)$(42.5)$64.9 $(259.2)$(2,069.1)
Other comprehensive (loss) income before reclassifications(331.9)24.3 13.5 35.0 (259.1)
Adjustments related to sales of businesses(6.0)— — — (6.0)
Reclassification adjustments to earnings— 1.5 — 11.8 13.3 
Net other comprehensive (loss) income(337.9)25.8 13.5 46.8 (251.8)
Balance - December 28, 2024$(2,170.2)$(16.7)$78.4 $(212.4)$(2,320.9)
Other comprehensive income (loss) before reclassifications408.6 (28.5)(26.3)(31.9)321.9 
Reclassification adjustments to earnings— 2.0 (3.2)29.8 28.6 
Net other comprehensive income (loss) 408.6 (26.5)(29.5)(2.1)350.5 
Balance - January 3, 2026$(1,761.6)$(43.2)$48.9 $(214.5)$(1,970.4)
Schedule of Reclassifications out of Accumulated Other Comprehensive Loss The reclassifications out of Accumulated other comprehensive loss for the years ended January 3, 2026 and December 28, 2024 were as follows:
(Millions of Dollars)20252024
Components of Accumulated other comprehensive lossReclassification adjustmentsReclassification adjustmentsAffected line item in Consolidated Statements of Operations
Realized gains on cash flow hedges$1.2 $2.0 Cost of sales
Realized losses on cash flow hedges(4.9)(6.1)Interest expense
Total before taxes(3.7)(4.1)
Tax effect1.7 2.6 Income taxes
Realized losses on cash flow hedges, net of tax$(2.0)$(1.5)
Realized gains on net investment hedges$4.3 $— Other, net
Tax effect(1.1)— Income taxes
Realized gains on net investment hedges, net of tax$3.2 $— 
Actuarial losses and prior service costs / credits$(8.5)$(11.1)Other, net
Settlement losses
(23.2)(3.5)Other, net and Restructuring Charges
Total before taxes(31.7)(14.6)
Tax effect1.9 2.8 Income taxes
Amortization of defined benefit pension items, net of tax$(29.8)$(11.8)
v3.25.4
EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Jan. 03, 2026
Retirement Benefits [Abstract]  
Schedule of Expense for Defined Contribution Plans
The expense for defined contribution plans, aside from the earlier discussed RAP plans, are as follows:
(Millions of Dollars)202520242023
Multi-employer plan expense$3.4 $3.7 $3.5 
Other defined contribution plan expense $50.8 $45.7 $43.3 
Schedule of Components of Net Periodic Pension Expense and Post-Retirement Benefit Expense
The components of net periodic pension expense are as follows:
 U.S. PlansNon-U.S. Plans
(Millions of Dollars)202520242023202520242023
Service cost$7.3 $6.4 $8.1 $11.9 $12.2 $11.2 
Interest cost50.7 51.6 54.7 42.6 41.7 43.4 
Expected return on plan assets(59.5)(60.8)(62.1)(49.2)(43.9)(41.5)
Amortization of prior service cost (credit)0.5 0.6 0.8 (0.8)(0.7)(0.7)
Actuarial loss amortization8.3 8.1 8.9 2.3 4.4 3.4 
Special termination benefit— — — — — 0.3 
Settlement / curtailment loss0.2 — 0.3 23.0 3.5 0.7 
Net periodic pension expense$7.5 $5.9 $10.7 $29.8 $17.2 $16.8 
Net periodic post-retirement benefit expense was comprised of the following:
 Other Benefit Plans
(Millions of Dollars)202520242023
Service cost$0.2 $0.3 $0.3 
Interest cost1.5 1.7 2.0 
Amortization of prior service cost0.1 0.1 0.1 
Actuarial gain amortization(1.9)(1.4)(1.4)
Settlement / curtailment gain— — — 
Special termination benefit6.1 — — 
Net periodic post-retirement expense$6.0 $0.7 $1.0 
Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Accumulated Other Comprehensive Income
Changes in plan assets and benefit obligations recognized in Accumulated other comprehensive loss in 2025 are as follows:
(Millions of Dollars)2025
Current year actuarial loss$27.7 
Amortization of actuarial loss(8.5)
Prior service cost from plan amendments0.8 
Settlement / curtailment loss(23.2)
Currency / other6.2 
Total increase recognized in Accumulated other comprehensive loss (pre-tax)$3.0 
Schedule of Changes in Pension and Other Post-retirement Benefit Obligations, Fair Value of Plan Assets
The changes in the pension and other post-retirement benefit obligations, fair value of plan assets, as well as amounts recognized in the Consolidated Balance Sheets, are shown below.
U.S. PlansNon-U.S. PlansOther Benefits
(Millions of Dollars)202520242025202420252024
Change in benefit obligation
Benefit obligation at end of prior year$1,012.5 $1,090.3 $861.6 $999.1 $27.0 $35.2 
Service cost7.3 6.4 11.9 12.2 0.2 0.3 
Interest cost50.7 51.6 42.6 41.7 1.5 1.7 
Special termination benefit— — — — 6.1 — 
Settlements/curtailments(7.8)— (10.8)(14.5)— — 
Actuarial loss (gain)22.2 (46.7)(6.8)(92.6)0.4 (1.4)
Plan amendments0.6 0.1 — 0.1 0.2 — 
Foreign currency exchange rate changes— — 72.3 (29.2)0.6 (1.1)
Participant contributions— — 0.3 0.2 — — 
Acquisitions, divestitures, and other(4.8)(4.6)(3.5)(2.8)— — 
Benefits paid(79.5)(84.6)(52.9)(52.6)(5.4)(7.7)
Benefit obligation at end of year$1,001.2 $1,012.5 $914.7 $861.6 $30.6 $27.0 
Change in plan assets
Fair value of plan assets at end of prior year$923.4 $979.2 $759.7 $831.0 $— $— 
Actual return on plan assets77.3 21.1 35.0 (6.1)— — 
Participant contributions— — 0.3 0.2 — — 
Employer contributions13.1 12.3 38.6 20.9 5.4 7.7 
Settlements(7.8)— (27.8)(16.9)— — 
Foreign currency exchange rate changes— — 54.6 (14.4)— — 
Acquisitions, divestitures, and other(4.8)(4.6)(3.8)(2.4)— — 
Benefits paid(79.5)(84.6)(52.9)(52.6)(5.4)(7.7)
Fair value of plan assets at end of plan year$921.7 $923.4 $803.7 $759.7 $— $— 
Funded status — assets less than benefit obligation$(79.5)$(89.1)$(111.0)$(101.9)$(30.6)$(27.0)
Unrecognized prior service cost (credit)1.7 1.5 (13.1)(13.0)0.5 0.4 
Unrecognized net actuarial loss (gain)213.8 217.9 126.4 121.0 (17.6)(19.1)
Net amount recognized$136.0 $130.3 $2.3 $6.1 $(47.7)$(45.7)
 U.S. PlansNon-U.S. PlansOther Benefits
(Millions of Dollars)202520242025202420252024
Amounts recognized in the Consolidated Balance Sheets
Prepaid benefit cost (non-current)$4.3 $3.8 $126.5 $124.8 $— $— 
Current benefit liability(5.4)(5.2)(11.3)(10.3)(5.0)(5.2)
Non-current benefit liability(78.4)(87.7)(226.2)(216.4)(25.6)(21.8)
Net liability recognized$(79.5)$(89.1)$(111.0)$(101.9)$(30.6)$(27.0)
Accumulated other comprehensive loss (pre-tax):
Prior service cost (credit)$1.7 $1.5 $(13.1)$(13.0)$0.5 $0.4 
Actuarial loss (gain)213.8 217.9 126.4 121.0 (17.6)(19.1)
215.5 219.4 113.3 108.0 (17.1)(18.7)
Net amount recognized$136.0 $130.3 $2.3 $6.1 $(47.7)$(45.7)
The following table provides information regarding pension plans in which projected benefit obligations (inclusive of anticipated future compensation increases) exceed plan assets as of January 3, 2026 and December 28, 2024:
 U.S. PlansNon-U.S. Plans
(Millions of Dollars)2025202420252024
Projected benefit obligation$910.6 $916.5 $281.1 $271.9 
Fair value of plan assets$826.7 $823.6 $43.6 $45.2 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets The following table provides information regarding pension plans in which accumulated benefit obligations exceed plan assets as of January 3, 2026 and December 28, 2024:
U.S. PlansNon-U.S. Plans
(Millions of Dollars)2025202420252024
Accumulated benefit obligation$910.6 $916.5 $234.0 $221.1 
Fair value of plan assets$826.7 $823.6 $29.4 $25.7 
Schedule of Assumptions used in Valuing Pension and Post-Retirement Plan Obligations and Net Costs
The major assumptions used in valuing pension and post-retirement plan obligations and net costs were as follows:
 Pension Benefits
 U.S. PlansNon-U.S. PlansOther Benefits
 202520242023202520242023202520242023
Weighted-average assumptions used to determine benefit obligations at year end:
Discount rate5.27 %5.55 %5.04 %5.11 %5.04 %4.43 %5.38 %5.74 %5.45 %
Rate of compensation increase— — — 3.33 %3.45 %3.52 %— — — 
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate - service cost5.84 %5.27 %5.58 %5.45 %5.18 %5.23 %7.77 %6.33 %6.64 %
Discount rate - interest cost5.24 %4.96 %5.23 %4.85 %4.36 %4.67 %5.52 %5.44 %5.37 %
Rate of compensation increase— — — 3.45 %3.52 %3.64 %— — — 
Expected return on plan assets6.72 %6.47 %6.70 %6.37 %5.45 %5.29 %— — — 
Schedule of Asset Allocations by Asset Category and Level of Valuation Inputs within Fair Value Hierarchy The Company’s worldwide asset allocations at January 3, 2026 and December 28, 2024 by asset category and the level of the valuation inputs within the fair value hierarchy established by ASC 820, Fair Value Measurement, were as follows:
Asset Category (Millions of Dollars)
2025Level 1Level 2
Cash and cash equivalents$23.3 $17.7 $5.6 
Equity securities
U.S. equity securities80.0 — 80.0 
Foreign equity securities38.7 — 38.7 
Fixed income securities
Government securities841.2 264.5 576.7 
Corporate securities670.6 — 670.6 
Insurance contracts42.9 — 42.9 
Other28.7 — 28.7 
Total$1,725.4 $282.2 $1,443.2 
 
Asset Category (Millions of Dollars)
2024Level 1Level 2
Cash and cash equivalents$29.7 $20.3 $9.4 
Equity securities
U.S. equity securities166.1 48.7 117.4 
Foreign equity securities92.8 24.5 68.3 
Fixed income securities
Government securities647.7 253.5 394.2 
Corporate securities678.9 — 678.9 
Insurance contracts37.7 — 37.7 
Other30.2 — 30.2 
Total$1,683.1 $347.0 $1,336.1 
Schedule of Expected Future Benefit Payments Benefit payments, inclusive of amounts attributable to estimated future employee service, are expected to be paid over the next 10 years as follows:
(Millions of Dollars)TotalYear 1Year 2Year 3Year 4Year 5Years 6-10
Future payments$1,471.2 $152.0 $152.4 $151.4 $148.1 $149.7 $717.6 
v3.25.4
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Jan. 03, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis for each of the hierarchy levels:
(Millions of Dollars)Total
Carrying
Value		Level 1Level 2Level 3
January 3, 2026
Money market fund$16.9 $16.9 $— $— 
Deferred compensation plan investments$15.0 $15.0 $— $— 
Derivative assets$9.3 $— $9.3 $— 
Derivative liabilities$28.5 $— $28.5 $— 
Non-derivative hedging instrument$555.6 $— $555.6 $— 
Contingent consideration liability$109.5 $— $— $109.5 
December 28, 2024
Money market fund$14.2 $14.2 $— $— 
Deferred compensation plan investments$17.0 $17.0 $— $— 
Derivative assets$32.6 $— $32.6 $— 
Derivative liabilities$11.8 $— $11.8 $— 
Contingent consideration liability$167.4 $— $— $167.4 
Schedule of Financial Assets and Liabilities not Carried at Fair Value
The following table provides information about the Company's financial assets and liabilities not carried at fair value:
 
 January 3, 2026December 28, 2024
(Millions of Dollars)Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Other investments$2.0 $1.9 $4.0 $3.9 
Long-term debt, including current portion$5,258.1 $4,844.4 $6,103.0 $5,548.8 
v3.25.4
RESTRUCTURING CHARGES (Tables)
 12 Months Ended
Jan. 03, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Reserve Activity
A summary of the restructuring reserve activity from December 28, 2024 to January 3, 2026 is as follows:
(Millions of Dollars)December 28, 2024Net
Additions 		UsageCurrencyJanuary 3, 2026
Severance and related costs$25.3 $85.7 $(64.2)$(1.1)$45.7 
Facility closures and other20.1 3.4 (21.4)— 2.1 
Total$45.4 $89.1 $(85.6)$(1.1)$47.8 
v3.25.4
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS (Tables)
 12 Months Ended
Jan. 03, 2026
Segment Reporting [Abstract]  
Schedule of Net Sales, Segment Profit, Capital and Software Expenditures, Depreciation and Amortization and Segment Assets
BUSINESS SEGMENTS
(Millions of Dollars)2025
 Tools & Outdoor Engineered Fastening Total
Net Sales $13,158.2 $1,972.2 $15,130.4 
 Cost of sales 9,122.5 1,417.5 
 Selling, general and administrative2,706.9 357.7 
 Segment Profit $1,328.8 $197.0 $1,525.8 
 Corporate Overhead (270.4)
 Other, net (240.7)
 Loss on sale of business(0.3)
 Restructuring charges (89.1)
 Asset impairment charges (189.5)
 Interest income 198.4 
 Interest expense (516.3)
Earnings from continuing operations before income taxes $417.9 
(Millions of Dollars)2024
Tools & OutdoorEngineered FasteningTotal
Net Sales$13,304.2 $2,061.5 $15,365.7 
Cost of sales9,404.0 1,452.0 
Selling, general and administrative2,702.8 354.6 
Segment Profit$1,197.4 $254.9 $1,452.3 
Corporate Overhead(270.6)
Other, net(448.8)
Restructuring charges(99.9)
Asset impairment charges(72.4)
Interest income179.1 
Interest expense(498.6)
Earnings from continuing operations before income taxes$241.1 
(Millions of Dollars)2023
Tools & OutdoorEngineered FasteningTotal
Net Sales$13,367.1 $2,414.0 $15,781.1 
Cost of sales10,090.2 1,758.2 
Selling, general and administrative2,589.3 389.3 
Segment Profit$687.6 $266.5 $954.1 
Corporate Overhead(312.2)
Other, net(320.1)
Loss on sales of businesses(10.8)
Restructuring charges(39.4)
Asset impairment charges(274.8)
Interest income186.9 
Interest expense(559.4)
Loss from continuing operations before income taxes$(375.7)
(Millions of Dollars)202520242023
Capital and Software Expenditures
Tools & Outdoor$236.5 $301.5 $264.7 
Engineered Fastening46.8 52.4 74.0 
Consolidated$283.3 $353.9 $338.7 
Depreciation and Amortization
Tools & Outdoor$396.7 $456.8 $453.5 
Engineered Fastening115.7 132.7 171.6 
Consolidated$512.4 $589.5 $625.1 
Segment AssetsJanuary 3, 2026December 28, 2024
Tools & Outdoor$17,705.5 $18,135.8 
Engineered Fastening2,402.0 3,962.9 
20,107.5 22,098.7 
Assets held for sale1,536.3 — 
Corporate assets(400.1)(249.8)
Consolidated$21,243.7 $21,848.9 
Schedule of Net Sales and Property Plant and Equipment, Net by Geographic Area
The following table is a summary of net sales and PP&E by geographic area for the years ended January 3, 2026, December 28, 2024 and December 30, 2023:
 
(Millions of Dollars)202520242023
Net Sales
United States$9,316.8 $9,505.4 $9,861.3 
Canada680.3 739.5 761.5 
Other Americas839.6 879.7 870.9 
Europe3,079.8 3,018.3 3,024.7 
Asia1,213.9 1,222.8 1,262.7 
Consolidated$15,130.4 $15,365.7 $15,781.1 

(Millions of Dollars)January 3, 2026December 28, 2024
Property, Plant & Equipment, net
United States$1,053.3 $1,256.8 
Canada5.1 5.6 
Other Americas195.3 208.4 
Europe290.0 273.4 
Asia288.1 290.1 
Consolidated$1,831.8 $2,034.3 
v3.25.4
INCOME TAXES (Tables)
 12 Months Ended
Jan. 03, 2026
Income Tax Disclosure [Abstract]  
Schedule of Components of Earnings (Loss) from Continuing Operations Before Income Taxes
The components of earnings (loss) from continuing operations before income taxes consisted of the following:
(Millions of Dollars)202520242023
United States$(597.2)$(925.4)$(1,385.0)
Foreign1,015.1 1,166.5 1,009.3 
Earnings (loss) from continuing operations before income taxes$417.9 $241.1 $(375.7)
Schedule of Income Taxes on Continuing Operations
Income taxes on continuing operations consisted of the following:
(Millions of Dollars)202520242023
Current:
Federal$(154.5)$4.3 $5.8 
Foreign233.4 174.9 307.4 
State1.5 2.8 17.1 
Total current$80.4 $182.0 $330.3 
Deferred:
Federal$(126.0)$(181.5)$(158.2)
Foreign78.6 (17.5)(218.3)
State(17.0)(28.2)(47.8)
Total deferred$(64.4)$(227.2)$(424.3)
Income taxes on continuing operations$16.0 $(45.2)$(94.0)
Schedule of Cash Taxes Paid, Net of Refunds
The amount of income taxes paid (net of refunds) consisted of the following:
(Millions of Dollars)2025
Federal$113.3 
State10.4 
Foreign206.4 
Total net income taxes paid$330.1 
Income taxes paid (net of refunds) for the following jurisdictions exceeded five percent of total income taxes paid (net of refunds):
(Millions of Dollars)2025
Foreign:
China$27.9 
Mexico27.4 
Canada17.3 
Schedule of Reconciliation of U.S. Federal Statutory Income Tax to Income Taxes on Continuing Operations
The reconciliation of the U.S. federal statutory income tax provision to Income taxes on continuing operations in the Consolidated Statements of Operations is as follows:
2025
(Millions of Dollars)AmountPercent
U.S. federal statutory tax rate$87.8 21.0 %
State and local income taxes, net of federal income tax effect (a)(11.1)(2.7)%
Foreign tax effects50.2 12.0 %
China
Withholding taxes26.8 6.4 %
Other3.5 0.8 %
Cyprus
Tax base differential(23.1)(5.5)%
Other(4.1)(1.0)%
Germany
Enacted changes in tax laws or rates13.2 3.2 %
Other3.5 0.8 %
Mexico
Changes in valuation allowances15.3 3.7 %
Other6.4 1.5 %
Other foreign jurisdictions8.7 2.1 %
Effect of cross-border tax laws55.1 13.2 %
Deemed royalty income18.1 4.3 %
Global intangible low-taxed income17.1 4.1 %
Subpart F income16.1 3.9 %
Other3.8 0.9 %
Tax credits(10.9)(2.6)%
Nontaxable or nondeductible items38.7 9.3 %
Share-based payment awards11.8 2.8 %
Other26.9 6.4 %
Changes in unrecognized tax benefits(101.1)(24.2)%
Other adjustments(92.7)(22.2)%
Capital loss(107.9)(25.8)%
Other15.2 3.6 %
Effective tax rate$16.0 3.8 %

(a) State taxes in Illinois, Texas, Georgia, Indiana, Minnesota, and California made up the majority (greater than 50 percent) of the tax effect in this category.
(Millions of Dollars)20242023
Tax at statutory rate$50.6 $(78.9)
State income taxes, net of federal benefits(21.2)(23.6)
Foreign tax rate differential(0.9)(48.0)
Uncertain tax benefits(8.6)30.5 
Change in valuation allowance(28.1)33.5 
Change in deferred tax liabilities on undistributed foreign earnings1.2 — 
Stock-based compensation8.0 8.2 
Change in tax rates0.7 0.2 
Tax credits(20.2)(17.8)
U.S. federal tax expense on foreign earnings15.9 63.6 
Intra-entity asset transfer of intellectual property— (131.3)
Withholding taxes13.6 38.9 
Impairment on assets held for sale4.0 30.4 
Capital loss(64.4)— 
Global minimum taxes    3.9 — 
Other0.3 0.3 
Income taxes on continuing operations$(45.2)$(94.0)
Schedule of Significant Components of Deferred Tax Assets and Liabilities
Significant components of the Company’s deferred tax assets and liabilities, excluding 2025 amounts classified as held for sale, at the end of each fiscal year were as follows:
(Millions of Dollars)20252024
Deferred tax assets:
Employee benefit plans$120.5 $137.9 
Basis differences in liabilities141.0 139.5 
Operating loss, capital loss and tax credit carryforwards989.7 983.7 
Lease liability 114.2 123.3 
Intangible assets711.2 636.2 
Capitalized research and development costs155.6 205.3 
Interest expense carryforward 291.1 207.2 
Inventory100.8 22.5 
Other157.8 151.3 
Total deferred tax assets$2,781.9 $2,606.9 
Less: Valuation allowance$(1,086.0)$(967.8)
Deferred tax asset, net of valuation allowance$1,695.9 $1,639.1 
Deferred tax liabilities:
Depreciation$61.2 $73.9 
Intangible assets737.2 799.6 
Liability on undistributed foreign earnings36.0 11.8 
Lease right-of-use asset110.5 118.1 
Other42.9 37.4 
Total deferred tax liabilities$987.8 $1,040.8 
Net deferred tax asset$708.1 $598.3 
Schedule of Activity Related to Unrecognized Tax Benefits The following table summarizes the activity related to the unrecognized tax benefits:
(Millions of Dollars)202520242023
Balance at beginning of year$452.4 $481.3 $502.7 
Additions based on tax positions related to current year25.0 41.4 20.9 
Additions based on tax positions related to prior years36.1 10.2 20.4 
Reductions based on tax positions related to prior years(142.8)(41.6)(8.2)
Settlements(4.4)(10.2)(16.2)
Statute of limitations expirations(1.0)(28.7)(16.8)
Reclassification to long-term liabilities held for sale— — (21.5)
Balance at end of year$365.3 $452.4 $481.3 
v3.25.4
COMMITMENTS AND GUARANTEES (Tables)
 12 Months Ended
Jan. 03, 2026
Commitments and Guarantees [Abstract]  
Schedule of Right-of-Use Assets and Lease Liabilities The following is a summary of the Company's right-of-use-assets and lease liabilities:
(Millions of Dollars)January 3, 2026December 28, 2024
Right-of-use assets$464.3 $473.4 
Lease liabilities$476.7 $491.8 
Weighted-average incremental borrowing rate
4.7 %4.7 %
Weighted-average remaining term
6 years6 years
Schedule of Total Lease Cost
The following is a summary of the Company's total lease cost for the years ended January 3, 2026, December 28, 2024, and December 30, 2023:
(Millions of Dollars)202520242023
Operating lease cost
$151.8 $139.6 $144.0 
Short-term lease cost31.6 33.0 31.2 
Variable lease cost
4.3 8.3 11.2 
Sublease income
(1.7)(2.5)(3.2)
Total lease cost
$186.0 $178.4 $183.2 
Schedule of Future Lease Obligations on Undiscounted Basis
The following is a summary of the Company's future lease obligations on an undiscounted basis at January 3, 2026:
(Millions of Dollars)Total20262027202820292030Thereafter
Lease obligations$551.5 $138.8 $111.6 $86.1 $68.7 $50.1 $96.2 
Schedule of Future Marketing Commitments
The following is a summary of the Company’s future marketing commitments at January 3, 2026:

(Millions of Dollars)Total20262027202820292030Thereafter
Marketing commitments$80.5 $41.1 $19.2 $10.7 $4.9 $4.6 $— 
Schedule of Unconditional Purchase Obligations Related to Supplier Agreement The following is a summary of the Company's unconditional purchase obligations related to these agreements at January 3, 2026:
(Millions of Dollars)Total20262027202820292030Thereafter
Supplier agreements$131.4 $59.9 $71.5 $— $— $— $— 
Schedule of Outstanding Obligations Under SCF Programs
The following is a rollforward of the Company's outstanding obligations under its SCF programs for the years ended January 3, 2026 and December 28, 2024:
(Millions of Dollars)20252024
Balance, beginning of year$483.6 $528.1 
Additions1,715.8 2,111.5 
Reductions for payments(1,855.5)(2,153.3)
Foreign currency translation and other5.4 (2.7)
Balance, end of year$349.3 $483.6 
Schedule of Financial Guarantees The Company's financial guarantees at January 3, 2026 are as follows:
(Millions of Dollars)TermMaximum
Potential
Payment		Carrying
Amount of
Liability
Guarantees on the residual values of leased properties
Four years to nine years
$45.5 $— 
Standby letters of credit
Up to twenty years
177.2 — 
Commercial customer financing arrangements
Up to ten years
106.7 17.8 
Total$329.4 $17.8 
Schedule of Changes in Carrying Amount of Product Warranties
The changes in the carrying amount of product warranties for the years ended January 3, 2026, December 28, 2024, and December 30, 2023 are as follows:
(Millions of Dollars)202520242023
Balance beginning of period$140.1 $136.7 $126.6 
Warranties and guarantees issued177.6 180.3 171.3 
Warranty payments and currency(159.9)(176.9)(161.2)
Balance end of period$157.8 $140.1 $136.7 
v3.25.4
DIVESTITURES (Tables)
 12 Months Ended
Jan. 03, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Pre Tax Income
Following is the pre-tax income for this business for the years ended January 3, 2026, December 28, 2024, and December 30, 2023:
(Millions of Dollars)202520242023
Pre-tax income (loss)$29.5 $25.9 $(12.2)
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 January 3, 2026 are presented in the following table:

(Millions of Dollars)January 3, 2026
Accounts and notes receivable, net$94.2 
Inventories, net168.0 
Other current assets0.2 
Property, plant and equipment, net117.1 
Goodwill739.4 
Intangibles, net410.1 
Other assets7.3 
Total assets$1,536.3 
Accounts payable and accrued expenses$44.2 
Other long-term liabilities9.4 
Total liabilities$53.6 
v3.25.4
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Allowance for Credit Losses:      
Movement in Valuation Allowances and Reserves      
Beginning Balance $ 84.7 $ 76.6 $ 106.6
Charged To Costs And Expenses 18.4 22.2 8.7
Charged To Other Accounts 21.0 9.0 9.5
Deductions (55.5) (23.1) (48.2)
Ending Balance 68.6 84.7 76.6
Tax Valuation Allowance:      
Movement in Valuation Allowances and Reserves      
Beginning Balance 967.8 1,046.9 1,032.5
Charged To Costs And Expenses 131.3 31.5 38.4
Charged To Other Accounts 1.8 (1.0) 2.2
Deductions (14.9) (109.6) (26.2)
Ending Balance $ 1,086.0 $ 967.8 $ 1,046.9
v3.25.4
SIGNIFICANT ACCOUNTING POLICIES - Schedule of Depreciation and Amortization (Details)
Jan. 03, 2026
Buildings  
Property, Plant and Equipment [Line Items]  
Useful Life (Years) 40 years
Minimum | Land improvements  
Property, Plant and Equipment [Line Items]  
Useful Life (Years) 10 years
Minimum | Machinery and equipment  
Property, Plant and Equipment [Line Items]  
Useful Life (Years) 3 years
Minimum | Computer software  
Property, Plant and Equipment [Line Items]  
Useful Life (Years) 3 years
Maximum | Land improvements  
Property, Plant and Equipment [Line Items]  
Useful Life (Years) 20 years
Maximum | Machinery and equipment  
Property, Plant and Equipment [Line Items]  
Useful Life (Years) 15 years
Maximum | Computer software  
Property, Plant and Equipment [Line Items]  
Useful Life (Years) 7 years
v3.25.4
SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)
$ in Millions
 12 Months Ended
Feb. 13, 2023
age
Jan. 03, 2026
USD ($)
age
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Significant Accounting Policies [Line Items]        
Stock-based compensation, minimum retirement age for eligibility | age 55      
Minimum service year to be eligible to stock-based compensation benefits (in years) 10 years      
Retirement Eligible Plan One        
Significant Accounting Policies [Line Items]        
Stock-based compensation, minimum retirement age for eligibility | age   55    
Minimum service year to be eligible to stock-based compensation benefits (in years)   10 years    
Retirement Eligible Plan Two        
Significant Accounting Policies [Line Items]        
Stock-based compensation, minimum retirement age for eligibility | age   65    
Minimum service year to be eligible to stock-based compensation benefits (in years)   1 year    
Minimum        
Significant Accounting Policies [Line Items]        
Vesting period of stock-based compensation grants (in years)   3 years    
Maximum        
Significant Accounting Policies [Line Items]        
Vesting period of stock-based compensation grants (in years)   4 years    
Net Sales        
Significant Accounting Policies [Line Items]        
Cooperative advertising expense   $ 350.4 $ 335.4 $ 325.1
Selling, General and Administrative Expenses        
Significant Accounting Policies [Line Items]        
Cooperative advertising expense   29.1 21.4 27.8
Selling, General and Administrative Expense        
Significant Accounting Policies [Line Items]        
Advertising costs   90.1 109.6 110.5
Production and distribution costs   $ 522.5 $ 534.4 $ 521.7
v3.25.4
ACCOUNTS AND NOTES RECEIVABLE, NET - Schedule of Accounts and Notes Receivable (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Receivables [Abstract]    
Trade accounts receivable $ 775.0 $ 950.4
Notes receivable 68.0 65.9
Other accounts receivable 145.3 222.1
Accounts and notes receivable 988.3 1,238.4
Allowance for credit losses (68.6) (84.7)
Accounts and notes receivable, net $ 919.7 $ 1,153.7
v3.25.4
ACCOUNTS AND NOTES RECEIVABLE, NET - Schedule of Changes in Allowance for Credit Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Balance beginning of period $ 84.7 $ 76.6  
Charged to costs and expenses 18.4 22.2 $ 8.7
Other, including recoveries and deductions (34.5) (14.1)  
Balance end of period $ 68.6 $ 84.7 $ 76.6
v3.25.4
ACCOUNTS AND NOTES RECEIVABLE, NET - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Receivables [Abstract]    
Maximum cash investment in receivables $ 110.0  
Net receivables derecognized 110.0 $ 95.1
Proceeds from transfers of receivables to the purchaser 459.0 402.3
Payment to the purchaser 444.1 417.2
Deferred revenue 86.5 101.6
Deferred revenue, current 27.3 31.3
Deferred revenue recognized $ 29.6 $ 28.6
v3.25.4
INVENTORIES, NET - Schedule of Components of Inventories (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Inventory Disclosure [Abstract]    
Finished products $ 2,919.8 $ 2,943.5
Work in process 174.3 346.3
Raw materials 1,063.0 1,246.6
Total $ 4,157.1 $ 4,536.4
v3.25.4
INVENTORIES, NET - Additional Information (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Inventory Disclosure [Abstract]    
Net inventory amount valued at lower of LIFO cost or market $ 2,400.0 $ 2,700.0
Increase in inventories if LIFO method had not been used $ 382.8 $ 197.2
v3.25.4
PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, gross $ 5,153.2 $ 5,129.0
Less: accumulated depreciation and amortization (3,321.4) (3,094.7)
Property, plant & equipment, net 1,831.8 2,034.3
Land    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, gross 104.8 132.0
Land improvements    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, gross 67.2 55.2
Buildings    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, gross 845.1 805.1
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, gross 195.3 205.0
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, gross 3,348.7 3,402.1
Computer software    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, gross $ 592.1 $ 529.6
v3.25.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 7,905.5 $ 7,995.9
Foreign currency translation and other 121.8 (90.4)
Reclassification to assets held for sale (739.4)  
Goodwill, ending balance 7,287.9 7,905.5
Tools & Outdoor    
Goodwill [Roll Forward]    
Goodwill, beginning balance 5,909.2 5,976.3
Foreign currency translation and other 116.1 (67.1)
Reclassification to assets held for sale 0.0  
Goodwill, ending balance 6,025.3 5,909.2
Engineered Fastening    
Goodwill [Roll Forward]    
Goodwill, beginning balance 1,996.3 2,019.6
Foreign currency translation and other 5.7 (23.3)
Reclassification to assets held for sale (739.4)  
Goodwill, ending balance $ 1,262.6 $ 1,996.3
v3.25.4
GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Sep. 27, 2025
USD ($)
reportingUnit
Sep. 28, 2024
USD ($)
Jan. 03, 2026
USD ($)
Dec. 28, 2024
USD ($)
Goodwill [Line Items]        
Number of reporting units | reportingUnit 2      
Reclassification to assets held for sale     $ 739.4  
Indefinite-lived trade names     2,256.0 $ 2,348.0
Indefinite-lived intangible assets, impairment charge $ 43.9      
Future amortization expense in 2026     111.1  
Future amortization expense in 2027     103.8  
Future amortization expense in 2028     100.4  
Future amortization expense in 2029     99.3  
Future amortization expense in 2030     95.9  
Future amortization expense thereafter     320.7  
Tools & Outdoor        
Goodwill [Line Items]        
Reclassification to assets held for sale     $ 0.0  
Lenox, Troy-Bilt, Irwin Trade Names | Tools & Outdoor        
Goodwill [Line Items]        
Indefinite-lived trade names 119.6      
Lenox, Troy-Bilt, Irwin Trade Names | Tools & Outdoor | Revenue, Segment Benchmark | Product Concentration Risk        
Goodwill [Line Items]        
Utilization of trade name (as percent)     5.00%  
Lenox, Troy-Bilt, Irwin Trade Names | Trade Names | Tools & Outdoor        
Goodwill [Line Items]        
Indefinite-lived intangible assets, impairment charge $ 108.4   $ 108.4  
Lenox Trade Name | Trade Names | Tools & Outdoor        
Goodwill [Line Items]        
Indefinite-lived intangible assets, impairment charge   $ 41.0    
Impairment, intangible asset, indefinite-lived (excluding goodwill), statement of income or comprehensive income   Asset impairment charges    
Discontinued Operations, Held-for-Sale | Consolidated Aerospace Manufacturing (CAM)        
Goodwill [Line Items]        
Intangibles, net     $ 410.1  
v3.25.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Definite-Lived Intangible Assets (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 2,369.5 $ 2,927.8
Accumulated Amortization (1,538.3) (1,544.4)
Patents and copyrights    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 27.1 25.3
Accumulated Amortization (27.1) (25.2)
Trade names    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 197.5 222.0
Accumulated Amortization (134.1) (134.0)
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 2,014.1 2,550.7
Accumulated Amortization (1,247.4) (1,257.3)
Other intangible assets    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 130.8 129.8
Accumulated Amortization $ (129.7) $ (127.9)
v3.25.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets Amortization Expense by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Finite-Lived Intangible Assets [Line Items]      
Amortization of intangibles $ 146.8 $ 163.2 $ 192.7
Tools & Outdoor      
Finite-Lived Intangible Assets [Line Items]      
Amortization of intangibles 96.6 101.6 103.1
Engineered Fastening      
Finite-Lived Intangible Assets [Line Items]      
Amortization of intangibles $ 50.2 $ 61.6 $ 89.6
v3.25.4
ACCRUED EXPENSES (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Payables and Accruals [Abstract]    
Payroll and related taxes $ 269.0 $ 329.8
Income and other taxes 115.5 231.1
Customer rebates and sales returns 381.7 353.2
Insurance and benefits 77.8 75.3
Restructuring costs 47.8 34.7
Derivative financial instruments 28.5 11.8
Warranty costs 129.5 113.7
Deferred revenue 27.3 31.3
Freight costs 128.3 139.6
Environmental costs 69.5 51.4
Current lease liability 133.1 126.6
Accrued interest 55.3 71.6
Other 414.8 409.2
Total $ 1,878.1 $ 1,979.3
v3.25.4
LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Schedule of Long-Term Debt and Financing Arrangements (Details) - USD ($)
 12 Months Ended
Jan. 03, 2026
Aug. 31, 2025
Mar. 29, 2025
Dec. 28, 2024
Debt Instrument [Line Items]        
Notional Value $ 5,304,500,000      
Carrying Value 5,258,100,000     $ 6,103,000,000
Less: Current maturities of long-term debt (554,800,000)     (500,400,000)
Long-term debt 4,703,300,000     5,602,600,000
Unamortized debt discount (4,100,000)      
Debt issuance costs (28,200,000)      
Fair value adjustment and unamortized gain (loss) termination of swap (18,900,000)      
Purchase accounting fair value adjustments $ 4,800,000      
Notes payable due 2025        
Debt Instrument [Line Items]        
Interest Rate 2.30%      
Notional Value $ 0      
Carrying Value $ 0     499,900,000
Notes payable due 2026        
Debt Instrument [Line Items]        
Interest Rate 3.40%      
Notional Value $ 500,000,000.0      
Carrying Value $ 499,900,000     499,400,000
Notes payable due 2026        
Debt Instrument [Line Items]        
Interest Rate 6.27% 6.272%    
Notional Value $ 0      
Carrying Value $ 0     349,300,000
Notes payable due 2026        
Debt Instrument [Line Items]        
Interest Rate 3.42%      
Notional Value $ 25,000,000.0      
Carrying Value $ 25,200,000     25,700,000
Notes payable due 2026        
Debt Instrument [Line Items]        
Interest Rate 1.84%      
Notional Value $ 29,300,000      
Carrying Value $ 29,500,000     26,700,000
Notes payable due 2028        
Debt Instrument [Line Items]        
Interest Rate 6.00%      
Notional Value $ 400,000,000.0      
Carrying Value $ 398,700,000     398,000,000.0
Notes payable due 2028        
Debt Instrument [Line Items]        
Interest Rate 7.05%      
Notional Value $ 150,000,000.0      
Carrying Value $ 155,300,000     157,500,000
Notes payable due 2028        
Debt Instrument [Line Items]        
Interest Rate 4.25%      
Notional Value $ 500,000,000.0      
Carrying Value $ 498,600,000     498,300,000
Notes payable due 2028        
Debt Instrument [Line Items]        
Interest Rate 3.52%      
Notional Value $ 50,000,000.0      
Carrying Value $ 51,700,000     52,400,000
Notes payable due 2030        
Debt Instrument [Line Items]        
Interest Rate 2.30%      
Notional Value $ 750,000,000.0      
Carrying Value $ 746,800,000     746,200,000
Notes payable due 2032        
Debt Instrument [Line Items]        
Interest Rate 3.00%      
Notional Value $ 500,000,000.0      
Carrying Value $ 497,200,000     496,600,000
Notes payable due 2040        
Debt Instrument [Line Items]        
Interest Rate 5.20%      
Notional Value $ 400,000,000.0      
Carrying Value $ 376,300,000     374,500,000
Notes payable due 2048        
Debt Instrument [Line Items]        
Interest Rate 4.85%      
Notional Value $ 500,000,000.0      
Carrying Value $ 495,400,000     495,200,000
Notes payable due 2050        
Debt Instrument [Line Items]        
Interest Rate 2.75%      
Notional Value $ 750,000,000.0      
Carrying Value $ 741,400,000     741,000,000.0
Notes payable due 2060 (junior subordinated) | Junior Subordinated Debt        
Debt Instrument [Line Items]        
Interest Rate 6.71%   6.71%  
Notional Value $ 750,000,000.0      
Carrying Value $ 741,900,000     741,600,000
Other, payable due 2026        
Debt Instrument [Line Items]        
Interest Rate 4.31%      
Notional Value $ 200,000      
Carrying Value $ 200,000     $ 700,000
Notes payable due 2060 | Junior Subordinated Debt        
Debt Instrument [Line Items]        
Interest Rate       4.00%
v3.25.4
LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Additional Information (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Aug. 31, 2025
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Debt Instrument [Line Items]        
Long-term debt, maturity, year one   $ 554.5    
Long-term debt, maturity, year three   1,100.0    
Long-term debt, maturity, year five   750.0    
Long-term debt, maturity, after year five   2,900.0    
Debt redeemed   $ 850.5 $ 0.0 $ 0.0
Notes payable due 2026        
Debt Instrument [Line Items]        
Debt redeemed $ 350.0      
Interest rate (as percent) 6.272% 6.27%    
Pre-tax loss related to write-off of unamortized deferred financing fees $ 0.3      
v3.25.4
LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Commercial Paper and Credit Facilities (Details)
 12 Months Ended
Jan. 03, 2026
USD ($)
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Jun. 28, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 29, 2024
USD ($)
Debt Instrument [Line Items]            
Maximum borrowing capacity         $ 3,500,000,000  
Commercial paper amount outstanding $ 605,600,000 $ 0        
Line of credit facility, maximum borrowing capacity 3,800,000,000          
Short-term borrowings 605,600,000 0        
Interest paid $ 520,600,000 $ 479,900,000 $ 531,500,000      
Debt instrument, covenant, leverage ratio, minimum 3.50          
Four Quarter Period Through Q2 2026            
Debt Instrument [Line Items]            
Debt instrument, covenant, leverage ratio, minimum 2.50          
Adjustment addback amount $ 250,000,000          
Line of Credit            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity 299,800,000          
Line of credit facility, available borrowing capacity 216,100,000          
Short-term borrowings $ 83,700,000          
Line of Credit | US Dollars            
Debt Instrument [Line Items]            
Weighted average interest rates on short-term borrowings (as percent) 4.60% 5.60%        
Line of Credit | Euro            
Debt Instrument [Line Items]            
Weighted average interest rates on short-term borrowings (as percent) 2.30% 3.90%        
Five Year Credit Facility            
Debt Instrument [Line Items]            
Long-term debt, term (in years) 5 years 5 years     5 years 5 years
Line of credit facility, current borrowing capacity         $ 2,250,000,000 $ 2,500,000,000
Line of credit drawn $ 0 $ 0        
Committed Credit Facility            
Debt Instrument [Line Items]            
Amount of credit facility foreign currency sublimit         $ 800,000,000.0  
2024 Syndicated 364-Day Credit Agreement | Revolving Credit Facility            
Debt Instrument [Line Items]            
Long-term debt, term (in years)       364 days    
Line of credit drawn   $ 0        
Line of credit facility, maximum borrowing capacity       $ 1,250,000,000    
2025 Syndicated 364-Day Credit Agreement | Revolving Credit Facility            
Debt Instrument [Line Items]            
Maximum borrowing capacity       $ 3,500,000,000    
Long-term debt, term (in years) 364 days     364 days    
Line of credit drawn $ 0          
Line of credit facility, maximum borrowing capacity       $ 1,250,000,000    
Designated as Hedging Instruments            
Debt Instrument [Line Items]            
Commercial paper amount outstanding 555,600,000          
Commercial Paper            
Debt Instrument [Line Items]            
Maximum borrowing capacity $ 3,500,000,000          
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Fair Value of Company’s Derivatives (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Derivatives, Fair Value [Line Items]    
Derivative assets $ 9.3 $ 32.6
Derivative liabilities 584.1 11.8
Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 4.3 23.7
Derivative liabilities 574.9 0.9
Other current assets | Net Investment Hedge | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 2.9 0.0
Other current assets | Foreign Exchange Contracts | Derivatives not designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 5.0 8.9
Other current assets | Foreign Exchange Contracts | Foreign Exchange Contracts Cash Flow | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 1.4 23.7
Accrued expenses | Net Investment Hedge | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative liabilities 9.3 0.0
Accrued expenses | Foreign Exchange Contracts | Derivatives not designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative liabilities 9.2 10.9
Accrued expenses | Foreign Exchange Contracts | Foreign Exchange Contracts Cash Flow | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative liabilities 10.0 0.9
Short-term borrowings | Net Investment Hedge | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 0.0 0.0
Derivative liabilities $ 555.6 $ 0.0
v3.25.4
FINANCIAL INSTRUMENTS - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Jan. 31, 2026
Derivative Instruments, Gain (Loss) [Line Items]        
Cash paid (received) related to derivatives $ (22.4) $ (0.1) $ 30.1  
(Loss) gain reclassified from accumulated other comprehensive loss into earnings 2.0 1.5 3.6  
Foreign Exchange Contracts        
Derivative Instruments, Gain (Loss) [Line Items]        
Accumulated other comprehensive gains 48.9 78.4    
Not Designated as Hedging Instrument | Forward Contracts        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount 1,400.0 1,300.0    
Cash Flow Hedging        
Derivative Instruments, Gain (Loss) [Line Items]        
After-tax mark-to-market losses 43.2 16.7    
After tax loss to be reclassified 10.6      
Cash Flow Hedging | Foreign Exchange Forward        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount 598.3 537.8    
Cash Flow Hedging | Foreign Exchange Forward | Subsequent Event        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount       $ 166.0
Net Investment Hedging        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount 555.6 0.0    
Net Investment Hedging | Foreign Exchange Contracts        
Derivative Instruments, Gain (Loss) [Line Items]        
Cash paid (received) related to derivatives 0.0 0.0 $ 0.0  
Net Investment Hedging | Cross Currency Interest Rate Contract        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount $ 220.0 $ 0.0    
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Detail Pre-tax Amounts of derivatives designated in Accumulated Other Comprehensive Loss into Earnings (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Interest Rate Contracts Cash Flow | Cash Flow Hedging | Interest expense      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) Recorded in OCI $ 0.0 $ 0.0 $ 0.0
Gain (Loss) Reclassified from OCI to Income (4.9) (6.1) (6.1)
Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing 0.0 0.0 0.0
Foreign Exchange Contracts | Interest expense      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) Reclassified from OCI to Income 0.0 0.0
Foreign Exchange Contracts | Cost of sales      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) Reclassified from OCI to Income 1.2 2.0 (0.6)
Foreign Exchange Contracts | Cash Flow Hedging | Cost of sales      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) Recorded in OCI (39.6) 30.8 (4.3)
Gain (Loss) Reclassified from OCI to Income 1.2 2.0 (0.6)
Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing $ 0.0 $ 0.0 $ 0.0
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Pre-Tax Effect of Cash Flow Hedge Accounting on Consolidated Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Derivative [Line Items]      
Cost of sales $ 10,542.1 $ 10,851.3 $ 11,848.5
Interest expense 516.3 498.6 559.4
Foreign Exchange Contracts | Cost of sales      
Derivative [Line Items]      
Hedged Items (1.2) (2.0) 0.6
Gain (loss) reclassified from OCI into Income 1.2 2.0 (0.6)
Foreign Exchange Contracts | Interest expense      
Derivative [Line Items]      
Hedged Items 0.0 0.0 0.0
Gain (loss) reclassified from OCI into Income 0.0 0.0
Interest Rate Swap | Cost of sales      
Derivative [Line Items]      
Gain (loss) reclassified from OCI into Income 0.0 0.0 0.0
Interest Rate Swap | Interest expense      
Derivative [Line Items]      
Gain (loss) reclassified from OCI into Income $ (4.9) $ (6.1) $ (6.1)
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Pre-Tax Effect from Fair Value Change (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]      
Total amount in the Consolidated Statements of Operations in which the effects of the fair value hedges are recorded $ 516.3 $ 498.6 $ 559.4
Fair Value Hedges      
Derivative Instruments, Gain (Loss) [Line Items]      
Amortization of gain on terminated swaps $ (0.4) $ (0.4) $ (0.4)
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Current maturities of long-term debt $ 554.8 $ 500.4
Long-Term Debt 531.6 532.0
Other Current Liabilities | Fair Value Hedges | Designated as Hedging Instruments    
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability 0.0 0.0
Long-term Debt | Fair Value Hedges | Designated as Hedging Instruments    
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability $ (18.9) $ (19.3)
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Pre-Tax Gain or Loss from Fair Value Change (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Line Items]      
Non-derivative designated as Net Investment Hedge, Total Gain (Loss) Recorded in OCI $ (31.2) $ 18.6 $ (12.0)
Non-derivative designated as Net Investment Hedge, Excluded Component Recorded in OCI 0.0 0.0 0.0
Non-derivative designated as Net Investment Hedge, Excluded Component Amortized from OCI to Income 0.0 0.0 0.0
Other Expense      
Derivative Instruments and Hedging Activities Disclosure [Line Items]      
Non-derivative designated as Net Investment Hedge, Total Gain (Loss) Reclassified from OCI to Income 0.0 0.0 0.0
Forward Contracts      
Derivative Instruments and Hedging Activities Disclosure [Line Items]      
Total Gain (Loss) Recorded in OCI 1.0 (0.5) 0.4
Excluded Component Recorded in OCI 0.0 0.0 0.0
Excluded Component Amortized from OCI to Income 0.0 0.0 0.0
Forward Contracts | Other Expense      
Derivative Instruments and Hedging Activities Disclosure [Line Items]      
Total Gain (Loss) Reclassified from OCI to Income 0.0 $ 0.0 $ 0.0
Cross Currency Swap      
Derivative Instruments and Hedging Activities Disclosure [Line Items]      
Total Gain (Loss) Recorded in OCI (4.4)    
Excluded Component Recorded in OCI 0.0    
Excluded Component Amortized from OCI to Income (4.3)    
Cross Currency Swap | Other Expense      
Derivative Instruments and Hedging Activities Disclosure [Line Items]      
Total Gain (Loss) Reclassified from OCI to Income $ 4.3    
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Gain (Loss) from Changes in Fair Value Related to Derivatives Not Designated as Hedging Instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Foreign Exchange Contracts | Other-net      
Derivative [Line Items]      
Undesignated hedges $ (20.5) $ (0.9) $ (33.7)
v3.25.4
CAPITAL STOCK - Schedule of Net Earnings (Loss) Attributable to Common Shareowners and Weighted-Average Shares Outstanding (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Numerator      
Net earnings (loss) from continuing operations $ 401.9 $ 286.3 $ (281.7)
Net earnings (loss) from discontinued operations 0.0 8.0 (28.8)
Net Earnings (Loss) $ 401.9 $ 294.3 $ (310.5)
Denominator      
Basic weighted-average shares outstanding (in shares) 151,258 150,485 149,751
Dilutive effect of stock contracts and awards (in shares) 620 812 0
Diluted weighted-average shares outstanding (in shares) 151,878 151,297 149,751
Basic earnings (loss) per share of common stock:      
Continuing operations (in dollars per share) $ 2.66 $ 1.90 $ (1.88)
Discontinued operations (in dollars per share) 0 0.05 (0.19)
Total basic earnings (loss) per share of common stock (in dollars per share) 2.66 1.96 (2.07)
Diluted earnings (loss) per share of common stock:      
Continuing operations (in dollars per share) 2.65 1.89 (1.88)
Discontinued operations (in dollars per share) 0 0.05 (0.19)
Total diluted earnings (loss) per share of common stock (in dollars per share) $ 2.65 $ 1.95 $ (2.07)
v3.25.4
CAPITAL STOCK - Schedule of Weighted-Average Stock Options Not Included in Computation of Weighted-Average Diluted Shares Outstanding (Details) - shares
shares in Thousands
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Stock Options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Number of stock options (in shares) 6,234 5,141 5,406
v3.25.4
CAPITAL STOCK - Schedule of Common Stock Share Activity (Details) - shares
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Common Stock, Shares, Activity [Roll Forward]      
Outstanding, beginning of year (in shares) 154,372,933 153,620,088 152,983,530
Issued from treasury (in shares) 921,552 960,437 817,110
Returned to treasury (in shares) (258,074) (207,592) (180,552)
Outstanding, end of year (in shares) 155,036,411 154,372,933 153,620,088
Shares subject to the forward share purchase contract (in shares) (3,645,510) (3,645,510) (3,645,510)
Outstanding, less shares subject to the forward share purchase contract (in shares) 151,390,901 150,727,423 149,974,578
v3.25.4
CAPITAL STOCK - Common Stock Activity, Additional Information (Details)
$ in Millions
 1 Months Ended
Mar. 31, 2015
USD ($)
shares
Share-Based Payment Arrangement [Abstract]  
Forward share purchase contract (in shares) | shares 3,645,510
Forward share purchase contract | $ $ 350.0
v3.25.4
CAPITAL STOCK - Schedule of Common Stock Shares Reserved for Issuance Under Various Employee and Director Stock Plans (Details) - shares
Jan. 03, 2026
Dec. 28, 2024
Defined Benefit Plan Disclosure [Line Items]    
Shares reserved (in shares) 4,656,069 6,791,483
Employee stock purchase plan    
Defined Benefit Plan Disclosure [Line Items]    
Shares reserved (in shares) 794,421 921,982
Other stock-based compensation plans    
Defined Benefit Plan Disclosure [Line Items]    
Shares reserved (in shares) 3,861,648 5,869,501
v3.25.4
CAPITAL STOCK - Stock-based Compensation Plans, Additional Information (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Jan. 03, 2026
USD ($)
goal
$ / shares
shares
Dec. 28, 2024
USD ($)
$ / shares
shares
Dec. 30, 2023
USD ($)
$ / shares
shares
Apr. 26, 2024
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock option expense (income) $ 94.1 $ 105.4 $ 83.8  
Cash received from exercise of stock options 1.1      
Tax benefit from exercise of stock options 0.0      
Aggregate intrinsic value 0.1 1.9 1.0  
Aggregate intrinsic value of stock options outstanding 0.2      
Aggregate intrinsic value of stock options exercisable $ 0.0      
Weighted average exercise price (in dollars per share) | $ / shares $ 88.36      
Shares granted, before forfeiture $ 1.6 $ 0.9 $ 1.5  
Number of annual performance goals | goal 2      
Earnings per share and return on capital employed as percentage of share based payment (as percent) 75.00%      
Market based elements as a percentage of share based payment (as percent) 25.00%      
Award performance period (in years) 3 years 3 years 3 years  
Non Employee Directors        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares granted, before forfeiture $ 1.8 $ 1.7 $ 1.9  
Employee Stock Purchase Plans        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Employee stock purchase plan, shares authorized for subscription (in shares) | shares 1,600,000      
Stock option expense (income) $ 1.6 3.7 3.6  
Aggregate intrinsic value $ 1.4 $ 3.7 $ 4.1  
Employee stock purchase plan, discounted purchase price (as percent) 85.00%      
Weighted average exercise price (in dollars per share) | $ / shares $ 90.98      
Employee stock purchase plan, shares issued (in shares) | shares 127,561 148,144 181,573  
Employee stock purchase plan (in dollars per share) | $ / shares $ 61.72 $ 69.49 $ 65.34  
Cash received related to ESPP purchases $ 7.8      
Expected life (in years) 1 year      
Dividend yield (as percent) 3.90% 3.30% 3.90%  
Expected volatility (as percent) 32.00% 34.00% 42.00%  
Risk-free interest rate (as percent) 4.30% 5.20% 4.70%  
Fair value per option (in dollars per share) | $ / shares $ 15.53 $ 27.38 $ 21.26  
Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options vesting period (in years) 3 years      
Remaining vesting periods on a weighted-average basis (in years) 10 years      
Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options vesting period (in years) 4 years      
Stock Options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options term (in years) 10 years      
Exercise price ranges, lower (in dollars per share) | $ / shares $ 69.03      
Exercise price ranges, upper (in dollars per share) | $ / shares $ 193.97      
Stock option expense (income) $ 21.5 $ 25.3 $ 26.6  
Unrecognized pre-tax compensation expense $ 12.3      
Remaining vesting periods on a weighted-average basis (in years) 1 year 8 months 12 days      
Stock-based compensation, tax shortfall $ 2.5 $ 0.3 $ 0.1  
Expected life (in years) 5 years 5 years 5 years  
Dividend yield (as percent) 3.70% 3.60% 3.60%  
Expected volatility (as percent) 38.90% 38.00% 39.10%  
Risk-free interest rate (as percent) 4.20% 4.20% 4.00%  
Fair value per option (in dollars per share) | $ / shares $ 25.42 $ 25.25 $ 26.05  
Stock Options | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options vesting period (in years) 3 years      
Forfeiture rate (as percent) 8.00%      
Stock Options | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options vesting period (in years) 4 years      
Forfeiture rate (as percent) 10.00%      
Restricted Share Units & Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock option expense (income) $ 64.4 $ 64.0 $ 53.9  
Unrecognized pre-tax compensation expense 52.8      
Stock-based compensation, tax shortfall $ 11.2      
Granted (in shares) | shares 881,316 750,126 827,133  
Granted (in dollars per share) | $ / shares $ 84.31 $ 89.66 $ 90.09  
Tax shortfall recognized $ 1.8 $ 0.8 $ 1.9  
Unrecognized pre-tax compensation expense, weighted average recognition period (in years) 1 year      
Total fair value of shares vested $ 67.6 59.4 49.9  
Restricted Share Units & Awards | Non Employee Directors        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock option expense (income) $ 1.0 1.0 1.1  
Restricted Share Units & Awards | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options vesting period (in years) 3 years      
Restricted Share Units & Awards | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options vesting period (in years) 4 years      
MICP PSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options vesting period (in years) 3 years      
Stock option expense (income) $ 0.0 0.0 (5.0)  
Stock-based compensation, tax shortfall   0.9    
Long-Term Performance Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock option expense (income) $ 3.7 9.7 1.7  
Stock-based compensation, tax shortfall   0.1 0.3  
Granted (in shares) | shares 463,348      
Granted (in dollars per share) | $ / shares $ 85.79      
Market based elements as a percentage of share based payment (as percent) 25.00%      
Shortfall recognized $ 0.3 $ 0.5 $ 0.5  
2024 Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Employee stock purchase plan, shares authorized for subscription (in shares) | shares       9,320,000
2022 Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Employee stock purchase plan, shares authorized for subscription (in shares) | shares       0
v3.25.4
CAPITAL STOCK - Schedule of Weighted Average Assumptions Used to Value Grants (Details) - Stock Options - $ / shares
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Average expected volatility 38.90% 38.00% 39.10%
Dividend yield 3.70% 3.60% 3.60%
Risk-free interest rate 4.20% 4.20% 4.00%
Expected life 5 years 5 years 5 years
Fair value per option (in dollars per share) $ 25.42 $ 25.25 $ 26.05
Weighted-average vesting period 2 years 2 years 1 year 10 months 24 days
v3.25.4
CAPITAL STOCK - Schedule of Number of Stock Options and Weighted-average Exercise Prices (Details)
 12 Months Ended
Jan. 03, 2026
$ / shares
shares
Options  
Outstanding, beginning of year (in shares) | shares 5,918,571
Granted (in shares) | shares 794,826
Exercised (in shares) | shares (13,603)
Forfeited (in shares) | shares (771,718)
Outstanding, end of year (in shares) | shares 5,928,076
Exercisable, end of year (in shares) | shares 4,683,215
Price  
Outstanding, beginning of year (in dollars per share) | $ / shares $ 128.59
Granted (in dollars per share) | $ / shares 88.36
Exercised (in dollars per share) | $ / shares 77.83
Forfeited (in dollars per share) | $ / shares 109.38
Outstanding, end of year (in dollars per share) | $ / shares 125.81
Exercisable, end of year (in dollars per share) | $ / shares $ 135.62
v3.25.4
CAPITAL STOCK - Schedule of Outstanding and Exercisable Stock Option (Details) - $ / shares
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Outstanding stock options, options (in shares) 5,928,076 5,918,571
Outstanding stock options, weighted average remaining contractual life (in years) 5 years 3 months 25 days  
Outstanding stock options, weighted-average exercise price (in dollars per share) $ 125.81  
Exercisable stock options, options (in shares) 4,683,215  
Exercisable stock options, weighted-average remaining contractual life (in years) 4 years 5 months 19 days  
Exercisable stock options, weighted-average exercise price (in dollars per share) $ 135.62  
$90.00 and below    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Outstanding stock options, options (in shares) 1,985,945  
Outstanding stock options, weighted average remaining contractual life (in years) 8 years 1 month 2 days  
Outstanding stock options, weighted-average exercise price (in dollars per share) $ 85.52  
Exercisable stock options, options (in shares) 909,914  
Exercisable stock options, weighted-average remaining contractual life (in years) 7 years 3 months 18 days  
Exercisable stock options, weighted-average exercise price (in dollars per share) $ 81.96  
Exercise price ranges, upper (in dollars per share) $ 90.00  
90.01 — 155.00    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Outstanding stock options, options (in shares) 2,362,208  
Outstanding stock options, weighted average remaining contractual life (in years) 3 years 9 months 10 days  
Outstanding stock options, weighted-average exercise price (in dollars per share) $ 123.17  
Exercisable stock options, options (in shares) 2,193,378  
Exercisable stock options, weighted-average remaining contractual life (in years) 3 years 6 months 7 days  
Exercisable stock options, weighted-average exercise price (in dollars per share) $ 125.62  
Exercise price ranges, lower (in dollars per share) 90.01  
Exercise price ranges, upper (in dollars per share) $ 155.00  
155.01 — higher    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Outstanding stock options, options (in shares) 1,579,923  
Outstanding stock options, weighted average remaining contractual life (in years) 4 years 1 month 24 days  
Outstanding stock options, weighted-average exercise price (in dollars per share) $ 180.41  
Exercisable stock options, options (in shares) 1,579,923  
Exercisable stock options, weighted-average remaining contractual life (in years) 4 years 1 month 24 days  
Exercisable stock options, weighted-average exercise price (in dollars per share) $ 180.41  
Exercise price ranges, lower (in dollars per share) $ 155.01  
v3.25.4
CAPITAL STOCK - Schedule of Non-vested Restricted Stock Unit Activity (Details) - Restricted Share Units & Awards - $ / shares
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Restricted Share Units & Awards      
Non-vested, beginning balance (in shares) 1,479,983    
Granted (in shares) 881,316 750,126 827,133
Vested (in shares) (762,210)    
Forfeited (in shares) (216,830)    
Non-vested, ending balance (in shares) 1,382,259 1,479,983  
Weighted-Average Grant Date Fair Value      
Non-vested, beginning balance (in dollars per share) $ 95.44    
Granted (in dollars per share) 84.31 $ 89.66 $ 90.09
Vested (in dollars per share) 96.42    
Forfeited (in dollars per share) 96.11    
Non-vested, ending balance (in dollars per share) $ 87.70 $ 95.44  
v3.25.4
CAPITAL STOCK - Schedule of Activity Pertaining to Maximum Number of Shares that may be Issued (Details) - Long-Term Performance Awards
 12 Months Ended
Jan. 03, 2026
$ / shares
shares
LTIP Units  
Non-vested, beginning balance (in shares) | shares 1,019,148
Granted (in shares) | shares 463,348
Vested (in shares) | shares 0
Forfeited (in shares) | shares (403,752)
Non-vested, ending balance (in shares) | shares 1,078,744
Weighted-Average Grant Date Fair Value  
Non-vested, beginning balance (in dollars per share) | $ / shares $ 96.50
Granted (in dollars per share) | $ / shares 85.79
Vested (in dollars per share) | $ / shares 0
Forfeited (in dollars per share) | $ / shares 121.00
Non-vested, ending balance (in dollars per share) | $ / shares $ 82.73
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Changes in Balances to Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance $ 8,719.9 $ 9,056.1
Ending balance 9,054.6 8,719.9
Accumulated Other Comprehensive Loss    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance (2,320.9) (2,069.1)
Other comprehensive (loss) income before reclassifications 321.9 (259.1)
Adjustments related to sales of businesses   (6.0)
Reclassification adjustments to earnings 28.6 13.3
Net other comprehensive (loss) income 350.5 (251.8)
Ending balance (1,970.4) (2,320.9)
Currency translation adjustment and other    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance (2,170.2) (1,832.3)
Other comprehensive (loss) income before reclassifications 408.6 (331.9)
Adjustments related to sales of businesses   (6.0)
Reclassification adjustments to earnings 0.0 0.0
Net other comprehensive (loss) income 408.6 (337.9)
Ending balance (1,761.6) (2,170.2)
Cash flow hedges, net of tax    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance (16.7) (42.5)
Other comprehensive (loss) income before reclassifications (28.5) 24.3
Adjustments related to sales of businesses   0.0
Reclassification adjustments to earnings 2.0 1.5
Net other comprehensive (loss) income (26.5) 25.8
Ending balance (43.2) (16.7)
Net investment hedges, net of tax    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance 78.4 64.9
Other comprehensive (loss) income before reclassifications (26.3) 13.5
Adjustments related to sales of businesses   0.0
Reclassification adjustments to earnings (3.2) 0.0
Net other comprehensive (loss) income (29.5) 13.5
Ending balance 48.9 78.4
Pension and other postretirement benefits, net of tax    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance (212.4) (259.2)
Other comprehensive (loss) income before reclassifications (31.9) 35.0
Adjustments related to sales of businesses   0.0
Reclassification adjustments to earnings 29.8 11.8
Net other comprehensive (loss) income (2.1) 46.8
Ending balance $ (214.5) $ (212.4)
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Cost of sales $ 10,542.1 $ 10,851.3 $ 11,848.5
Interest expense 516.3 498.6 559.4
Other, net 240.7 448.8 320.1
Earnings (loss) from continuing operations before income taxes 417.9 241.1 (375.7)
Income taxes (16.0) 45.2 $ 94.0
Reclassification of Accumulated Other Comprehensive Income | Cash flow hedges, net of tax      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Cost of sales 1.2 2.0  
Interest expense (4.9) (6.1)  
Earnings (loss) from continuing operations before income taxes (3.7) (4.1)  
Income taxes 1.7 2.6  
Net Earnings (Loss) (2.0) (1.5)  
Reclassification of Accumulated Other Comprehensive Income | Net investment hedges, net of tax      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Other, net 4.3 0.0  
Income taxes (1.1) 0.0  
Net Earnings (Loss) 3.2 0.0  
Reclassification of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment Attributable to Parent      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Earnings (loss) from continuing operations before income taxes (31.7) (14.6)  
Income taxes 1.9 2.8  
Net Earnings (Loss) (29.8) (11.8)  
Reclassification of Accumulated Other Comprehensive Income | Actuarial losses and prior service costs / credits      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Other, net (8.5) (11.1)  
Reclassification of Accumulated Other Comprehensive Income | Settlement losses      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Other, net $ (23.2) $ (3.5)  
v3.25.4
EMPLOYEE BENEFIT PLANS - Additional Information (Details)
$ in Millions
 12 Months Ended
Jan. 03, 2026
USD ($)
employee
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Employer match percentage of employee's tax-deferred contribution 50.00%    
Allocations for benefits earned under the cornerstone plan $ 38.6 $ 36.1 $ 38.8
Employee stock ownership plan, expenses 70.0 67.8 $ 71.6
Defined contribution plan, liability $ 124.4 $ 118.7  
Defined benefit plan, net periodic benefit cost (credit) excluding service cost, statement of income or comprehensive income Other, net Other, net Other, net
Accumulated benefit obligation for defined benefit pension plans $ 1,912.0 $ 1,868.0  
Expected return on plan assets 6.55%    
Target allocation percentage of assets, equity securities, minimum 10.00%    
Target allocation percentage of assets, equity securities, maximum 20.00%    
Target allocations in fixed income securities minimum range 70.00%    
Target allocations in fixed income securities maximum range 80.00%    
Target allocations in other securities range, maximum 10.00%    
Funded status of total plan assets (as percent) 90.00% 90.00% 87.00%
Expected pension and other post retirement benefit plans $ 29.0    
Assumed health care cost trend rate for next year (as percent) 7.10%    
Assumed ultimate trend rate for health care cost (as percent) 4.90%    
Medical and Dental Benefits      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Number of employees covered by benefit plans | employee 523    
Non-U.S. Plans      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Employees covered by pension plan | employee 9,303    
Employee Defined Contribution Plans      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Defined contribution plan, employer contribution $ 31.4 $ 31.7 $ 32.8
Retirement Account Plan      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Defined benefit employer matches participant contributions (as percent) 7.00%    
Employer cash contributions $ 72.7 $ 72.6 $ 61.0
Retirement Account Plan | Core Benefit Plan      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Number of employees covered by benefit plans | employee 10,965    
Minimum | Retirement Account Plan | Core Benefit Plan      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Defined contribution plan, employer contribution (as percent) 2.00%    
Maximum | Retirement Account Plan      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Defined benefit employer matches participant contributions (as percent) 25.00%    
Maximum | Retirement Account Plan | Core Benefit Plan      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Defined contribution plan, employer contribution (as percent) 6.00%    
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Expense for Defined Contribution Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Retirement Benefits [Abstract]      
Multi-employer plan expense $ 3.4 $ 3.7 $ 3.5
Other defined contribution plan expense $ 50.8 $ 45.7 $ 43.3
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Components of Net Periodic Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Defined Benefit Plan Disclosure [Line Items]      
Settlement / curtailment loss $ 23.2    
Other Benefit Plans      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 0.2 $ 0.3 $ 0.3
Interest cost 1.5 1.7 2.0
Amortization of prior service cost (credit) 0.1 0.1 0.1
Actuarial gain (loss) amortization (1.9) (1.4) (1.4)
Special termination benefit 6.1 0.0 0.0
Settlement / curtailment loss 0.0 0.0 0.0
Net periodic pension expense 6.0 0.7 1.0
U.S. Plans | Pension Plan      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 7.3 6.4 8.1
Interest cost 50.7 51.6 54.7
Expected return on plan assets (59.5) (60.8) (62.1)
Amortization of prior service cost (credit) 0.5 0.6 0.8
Actuarial gain (loss) amortization 8.3 8.1 8.9
Special termination benefit 0.0 0.0 0.0
Settlement / curtailment loss 0.2 0.0 0.3
Net periodic pension expense 7.5 5.9 10.7
Non-U.S. Plans | Pension Plan      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 11.9 12.2 11.2
Interest cost 42.6 41.7 43.4
Expected return on plan assets (49.2) (43.9) (41.5)
Amortization of prior service cost (credit) (0.8) (0.7) (0.7)
Actuarial gain (loss) amortization 2.3 4.4 3.4
Special termination benefit 0.0 0.0 0.3
Settlement / curtailment loss 23.0 3.5 0.7
Net periodic pension expense $ 29.8 $ 17.2 $ 16.8
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Accumulated Other Comprehensive Income (Details)
$ in Millions
 12 Months Ended
Jan. 03, 2026
USD ($)
Retirement Benefits [Abstract]  
Current year actuarial loss $ 27.7
Amortization of actuarial loss (8.5)
Prior service cost from plan amendments 0.8
Settlement / curtailment loss (23.2)
Currency / other 6.2
Total increase recognized in Accumulated other comprehensive loss (pre-tax) $ 3.0
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Changes in Pension and Other Post-retirement Benefit Obligations, Fair Value of Plan Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Amounts recognized in the Consolidated Balance Sheets      
Non-current benefit liability $ (330.2) $ (325.9)  
Pension Plan      
Change in plan assets      
Fair value of plan assets at end of prior year 1,683.1    
Fair value of plan assets at end of plan year 1,725.4 1,683.1  
Other Benefit Plans      
Change in benefit obligation      
Benefit obligation at end of prior year 27.0 35.2  
Service cost 0.2 0.3 $ 0.3
Interest cost 1.5 1.7 2.0
Special termination benefit 6.1 0.0  
Settlements/curtailments 0.0 0.0  
Actuarial loss (gain) 0.4 (1.4)  
Plan amendments 0.2 0.0  
Foreign currency exchange rate changes 0.6 (1.1)  
Participant contributions 0.0 0.0  
Acquisitions, divestitures, and other 0.0 0.0  
Benefits paid (5.4) (7.7)  
Benefit obligation at end of year 30.6 27.0 35.2
Change in plan assets      
Fair value of plan assets at end of prior year 0.0 0.0  
Actual return on plan assets 0.0 0.0  
Participant contributions 0.0 0.0  
Employer contributions 5.4 7.7  
Settlements 0.0 0.0  
Foreign currency exchange rate changes 0.0 0.0  
Acquisitions, divestitures, and other 0.0 0.0  
Benefits paid (5.4) (7.7)  
Fair value of plan assets at end of plan year 0.0 0.0 0.0
Funded status — assets less than benefit obligation (30.6) (27.0)  
Unrecognized prior service cost (credit) 0.5 0.4  
Unrecognized net actuarial loss (gain) (17.6) (19.1)  
Net amount recognized (47.7) (45.7)  
Amounts recognized in the Consolidated Balance Sheets      
Prepaid benefit cost (non-current) 0.0 0.0  
Current benefit liability (5.0) (5.2)  
Non-current benefit liability (25.6) (21.8)  
Net liability recognized (30.6) (27.0)  
Accumulated other comprehensive loss (pre-tax):      
Prior service cost (credit) 0.5 0.4  
Actuarial loss (gain) (17.6) (19.1)  
Defined benefit plan, accumulated other comprehensive loss (pre-tax) (17.1) (18.7)  
U.S. Plans | Pension Plan      
Change in benefit obligation      
Benefit obligation at end of prior year 1,012.5 1,090.3  
Service cost 7.3 6.4 8.1
Interest cost 50.7 51.6 54.7
Special termination benefit 0.0 0.0  
Settlements/curtailments (7.8) 0.0  
Actuarial loss (gain) 22.2 (46.7)  
Plan amendments 0.6 0.1  
Foreign currency exchange rate changes 0.0 0.0  
Participant contributions 0.0 0.0  
Acquisitions, divestitures, and other (4.8) (4.6)  
Benefits paid (79.5) (84.6)  
Benefit obligation at end of year 1,001.2 1,012.5 1,090.3
Change in plan assets      
Fair value of plan assets at end of prior year 923.4 979.2  
Actual return on plan assets 77.3 21.1  
Participant contributions 0.0 0.0  
Employer contributions 13.1 12.3  
Settlements (7.8) 0.0  
Foreign currency exchange rate changes 0.0 0.0  
Acquisitions, divestitures, and other (4.8) (4.6)  
Benefits paid (79.5) (84.6)  
Fair value of plan assets at end of plan year 921.7 923.4 979.2
Funded status — assets less than benefit obligation (79.5) (89.1)  
Unrecognized prior service cost (credit) 1.7 1.5  
Unrecognized net actuarial loss (gain) 213.8 217.9  
Net amount recognized 136.0 130.3  
Amounts recognized in the Consolidated Balance Sheets      
Prepaid benefit cost (non-current) 4.3 3.8  
Current benefit liability (5.4) (5.2)  
Non-current benefit liability (78.4) (87.7)  
Net liability recognized (79.5) (89.1)  
Accumulated other comprehensive loss (pre-tax):      
Prior service cost (credit) 1.7 1.5  
Actuarial loss (gain) 213.8 217.9  
Defined benefit plan, accumulated other comprehensive loss (pre-tax) 215.5 219.4  
Non-U.S. Plans | Pension Plan      
Change in benefit obligation      
Benefit obligation at end of prior year 861.6 999.1  
Service cost 11.9 12.2 11.2
Interest cost 42.6 41.7 43.4
Special termination benefit 0.0 0.0  
Settlements/curtailments (10.8) (14.5)  
Actuarial loss (gain) (6.8) (92.6)  
Plan amendments 0.0 0.1  
Foreign currency exchange rate changes 72.3 (29.2)  
Participant contributions 0.3 0.2  
Acquisitions, divestitures, and other (3.5) (2.8)  
Benefits paid (52.9) (52.6)  
Benefit obligation at end of year 914.7 861.6 999.1
Change in plan assets      
Fair value of plan assets at end of prior year 759.7 831.0  
Actual return on plan assets 35.0 (6.1)  
Participant contributions 0.3 0.2  
Employer contributions 38.6 20.9  
Settlements (27.8) (16.9)  
Foreign currency exchange rate changes 54.6 (14.4)  
Acquisitions, divestitures, and other (3.8) (2.4)  
Benefits paid (52.9) (52.6)  
Fair value of plan assets at end of plan year 803.7 759.7 $ 831.0
Funded status — assets less than benefit obligation (111.0) (101.9)  
Unrecognized prior service cost (credit) (13.1) (13.0)  
Unrecognized net actuarial loss (gain) 126.4 121.0  
Net amount recognized 2.3 6.1  
Amounts recognized in the Consolidated Balance Sheets      
Prepaid benefit cost (non-current) 126.5 124.8  
Current benefit liability (11.3) (10.3)  
Non-current benefit liability (226.2) (216.4)  
Net liability recognized (111.0) (101.9)  
Accumulated other comprehensive loss (pre-tax):      
Prior service cost (credit) (13.1) (13.0)  
Actuarial loss (gain) 126.4 121.0  
Defined benefit plan, accumulated other comprehensive loss (pre-tax) $ 113.3 $ 108.0  
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated benefit obligation $ 910.6 $ 916.5
Fair value of plan assets 826.7 823.6
Non-U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated benefit obligation 234.0 221.1
Fair value of plan assets $ 29.4 $ 25.7
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Projected Benefit Obligations Exceed Plan Assets (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Projected benefit obligation $ 910.6 $ 916.5
Fair value of plan assets 826.7 823.6
Non-U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Projected benefit obligation 281.1 271.9
Fair value of plan assets $ 43.6 $ 45.2
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Assumptions used in Valuing Pension and Post-Retirement Plan Obligations and Net Costs (Details)
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Weighted-average assumptions used to determine net periodic benefit cost:      
Expected return on plan assets 6.55%    
Other Benefit Plans      
Weighted-average assumptions used to determine benefit obligations at year end:      
Discount rate 5.38% 5.74% 5.45%
Weighted-average assumptions used to determine net periodic benefit cost:      
Rate of compensation increase 0.00% 0.00% 0.00%
Expected return on plan assets 0.00% 0.00% 0.00%
Other Benefit Plans | Discount rate - service cost      
Weighted-average assumptions used to determine net periodic benefit cost:      
Discount rate 7.77% 6.33% 6.64%
Other Benefit Plans | Discount rate - interest cost      
Weighted-average assumptions used to determine net periodic benefit cost:      
Discount rate 5.52% 5.44% 5.37%
U.S. Plans | Pension Plan      
Weighted-average assumptions used to determine benefit obligations at year end:      
Discount rate 5.27% 5.55% 5.04%
Weighted-average assumptions used to determine net periodic benefit cost:      
Rate of compensation increase 0.00% 0.00% 0.00%
Expected return on plan assets 6.72% 6.47% 6.70%
U.S. Plans | Pension Plan | Discount rate - service cost      
Weighted-average assumptions used to determine net periodic benefit cost:      
Discount rate 5.84% 5.27% 5.58%
U.S. Plans | Pension Plan | Discount rate - interest cost      
Weighted-average assumptions used to determine net periodic benefit cost:      
Discount rate 5.24% 4.96% 5.23%
Non-U.S. Plans      
Weighted-average assumptions used to determine benefit obligations at year end:      
Rate of compensation increase 3.33% 3.45% 3.52%
Non-U.S. Plans | Pension Plan      
Weighted-average assumptions used to determine benefit obligations at year end:      
Discount rate 5.11% 5.04% 4.43%
Weighted-average assumptions used to determine net periodic benefit cost:      
Rate of compensation increase 3.45% 3.52% 3.64%
Expected return on plan assets 6.37% 5.45% 5.29%
Non-U.S. Plans | Pension Plan | Discount rate - service cost      
Weighted-average assumptions used to determine net periodic benefit cost:      
Discount rate 5.45% 5.18% 5.23%
Non-U.S. Plans | Pension Plan | Discount rate - interest cost      
Weighted-average assumptions used to determine net periodic benefit cost:      
Discount rate 4.85% 4.36% 4.67%
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Asset Allocations by Asset Category and Level of Valuation Inputs within Fair Value Hierarchy (Details) - Defined Benefit Pension - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets $ 1,725.4 $ 1,683.1
Level 1    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 282.2 347.0
Level 2    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 1,443.2 1,336.1
Cash and cash equivalents    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 23.3 29.7
Cash and cash equivalents | Level 1    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 17.7 20.3
Cash and cash equivalents | Level 2    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 5.6 9.4
U.S. equity securities    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 80.0 166.1
U.S. equity securities | Level 1    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 0.0 48.7
U.S. equity securities | Level 2    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 80.0 117.4
Foreign equity securities    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 38.7 92.8
Foreign equity securities | Level 1    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 0.0 24.5
Foreign equity securities | Level 2    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 38.7 68.3
Government securities    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 841.2 647.7
Government securities | Level 1    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 264.5 253.5
Government securities | Level 2    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 576.7 394.2
Corporate securities    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 670.6 678.9
Corporate securities | Level 1    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 0.0 0.0
Corporate securities | Level 2    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 670.6 678.9
Insurance contracts    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 42.9 37.7
Insurance contracts | Level 1    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 0.0 0.0
Insurance contracts | Level 2    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 42.9 37.7
Other    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 28.7 30.2
Other | Level 1    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets 0.0 0.0
Other | Level 2    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Fair value of plan assets $ 28.7 $ 30.2
v3.25.4
EMPLOYEE BENEFIT PLANS - Schedule of Expected Future Benefit Payments (Details)
$ in Millions
Jan. 03, 2026
USD ($)
Retirement Benefits [Abstract]  
Total $ 1,471.2
Year 1 152.0
Year 2 152.4
Year 3 151.4
Year 4 148.1
Year 5 149.7
Years 6-10 $ 717.6
v3.25.4
FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities not Carried at Fair Value (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Jan. 03, 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan investments $ 17.0 $ 15.0
Derivative assets 32.6 9.3
Derivative liabilities 11.8 28.5
Non-derivative hedging instrument   555.6
Contingent consideration liability 167.4 109.5
Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market fund 14.2 16.9
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan investments 17.0 15.0
Derivative assets 0.0 0.0
Derivative liabilities 0.0 0.0
Non-derivative hedging instrument   0.0
Contingent consideration liability 0.0 0.0
Level 1 | Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market fund 14.2 16.9
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan investments $ 0.0 0.0
DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag Derivative assets  
Derivative assets $ 32.6 9.3
Derivative liabilities 11.8 28.5
Non-derivative hedging instrument   555.6
Contingent consideration liability 0.0 0.0
Level 2 | Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market fund 0.0 0.0
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan investments 0.0 0.0
Derivative assets 0.0 0.0
Derivative liabilities 0.0 0.0
Non-derivative hedging instrument   0.0
Contingent consideration liability 167.4 109.5
Level 3 | Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market fund $ 0.0 $ 0.0
v3.25.4
FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities not Carried at Fair Value (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Carrying Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Other investments $ 2.0 $ 4.0
Long-term debt, including current portion 5,258.1 6,103.0
Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Other investments 1.9 3.9
Long-term debt, including current portion $ 4,844.4 $ 5,548.8
v3.25.4
FAIR VALUE MEASUREMENTS - Additional Information (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Sep. 27, 2025
USD ($)
Jan. 03, 2026
USD ($)
Dec. 28, 2024
USD ($)
Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Contingent consideration liability   $ 109.5 $ 167.4  
Change in fair value due to change in discount rate   $ 2.4    
Indefinite-lived intangible assets, impairment charge $ 43.9      
Measurement Input, Discount Rate        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Business combination, contingent consideration, liability, measurement input   0.0100    
Craftsman        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Payments for royalties owed   $ 34.6    
Contingent consideration liability   $ 109.5 $ 167.4  
Minimum | Craftsman        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Obligation to make future payments based on future sales (as percent)       2.50%
Maximum | Craftsman        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Obligation to make future payments based on future sales (as percent)       3.50%
v3.25.4
OTHER COSTS AND EXPENSES (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Business Combination [Line Items]      
Other, net $ 240.7 $ 448.8 $ 320.1
Amortization of intangibles 146.8 163.2 192.7
Environmental remediation reserve   142.3  
Research and development costs $ 321.4 $ 328.8 $ 362.0
Revenue Benchmark | Product Concentration Risk | Research and Development Expense      
Business Combination [Line Items]      
Concentration risk (as percent) 2.10% 2.10% 2.30%
v3.25.4
RESTRUCTURING CHARGES - Schedule of Restructuring Reserve Activity (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Restructuring Reserve      
Reserve, beginning balance $ 45.4    
Net Additions 89.1 $ 99.9 $ 39.4
Usage (85.6)    
Currency (1.1)    
Reserve, ending balance 47.8 45.4  
Severance and related costs      
Restructuring Reserve      
Reserve, beginning balance 25.3    
Net Additions 85.7    
Usage (64.2)    
Currency (1.1)    
Reserve, ending balance 45.7 25.3  
Facility closures and other      
Restructuring Reserve      
Reserve, beginning balance 20.1    
Net Additions 3.4    
Usage (21.4)    
Currency 0.0    
Reserve, ending balance $ 2.1 $ 20.1  
v3.25.4
RESTRUCTURING CHARGES - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 89.1 $ 99.9 $ 39.4
Restructuring reserves 47.8 $ 45.4  
Operating Segments | Tools & Outdoor      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 71.0    
Operating Segments | Engineered Fastening      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 5.3    
Corporate Nonsegment      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 12.8    
v3.25.4
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Additional Information (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 30, 2024
USD ($)
Jan. 03, 2026
USD ($)
segment
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Segment Reporting [Abstract]        
Number of reportable segments | segment   2    
Segment Reporting Information [Line Items]        
Net Sales   $ 15,130.4 $ 15,365.7 $ 15,781.1
Engineered Fastening        
Segment Reporting Information [Line Items]        
Deferred revenue recognized (as percent)   1.90% 3.20% 2.20%
Engineered Fastening | Infrastructure Business        
Segment Reporting Information [Line Items]        
Net Sales $ 92.6     $ 448.6
Home Depot | Revenue from Contract with Customer Benchmark | Customer Concentration Risk        
Segment Reporting Information [Line Items]        
Concentration risk (as percent)   15.00% 14.00% 13.00%
Lowes | Revenue from Contract with Customer Benchmark | Customer Concentration Risk        
Segment Reporting Information [Line Items]        
Concentration risk (as percent)   12.00% 14.00% 14.00%
v3.25.4
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Schedule of Net Sales, Segment Profit, Capital and Software Expenditures, Depreciation and Amortization (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Segment Reporting Information [Line Items]      
Net Sales $ 15,130.4 $ 15,365.7 $ 15,781.1
Cost of sales 10,542.1 10,851.3 11,848.5
Selling, general and administrative 3,314.5 3,310.5 3,282.0
Other, net (240.7) (448.8) (320.1)
Loss on sale of business (0.3) 0.0 (10.8)
Restructuring charges (89.1) (99.9) (39.4)
Asset impairment charges (189.5) (72.4) (274.8)
Interest income 198.4 179.1 186.9
Interest expense (516.3) (498.6) (559.4)
Earnings (loss) from continuing operations before income taxes 417.9 241.1 (375.7)
Operating Segments      
Segment Reporting Information [Line Items]      
Net Sales 15,130.4 15,365.7 15,781.1
Segment Profit 1,525.8 1,452.3 954.1
Earnings (loss) from continuing operations before income taxes   241.1 (375.7)
Corporate Nonsegment      
Segment Reporting Information [Line Items]      
Corporate Overhead (270.4) (270.6) (312.2)
Restructuring charges (12.8)    
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment      
Segment Reporting Information [Line Items]      
Other, net (240.7) (448.8) (320.1)
Loss on sale of business (0.3)   (10.8)
Restructuring charges (89.1) (99.9) (39.4)
Asset impairment charges (189.5) (72.4) (274.8)
Interest income 198.4 179.1 186.9
Interest expense (516.3) (498.6) (559.4)
Tools & Outdoor | Operating Segments      
Segment Reporting Information [Line Items]      
Net Sales 13,158.2 13,304.2 13,367.1
Cost of sales 9,122.5 9,404.0 10,090.2
Selling, general and administrative 2,706.9 2,702.8 2,589.3
Segment Profit 1,328.8 1,197.4 687.6
Restructuring charges (71.0)    
Engineered Fastening | Operating Segments      
Segment Reporting Information [Line Items]      
Net Sales 1,972.2 2,061.5 2,414.0
Cost of sales 1,417.5 1,452.0 1,758.2
Selling, general and administrative 357.7 354.6 389.3
Segment Profit 197.0 $ 254.9 $ 266.5
Restructuring charges $ (5.3)    
v3.25.4
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Schedule of Segment Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Segment Reporting Information [Line Items]      
Capital and Software Expenditures $ 283.3 $ 353.9 $ 338.7
Depreciation and Amortization 512.4 589.5 625.1
Segment Assets 21,243.7 21,848.9  
Assets held for sale 1,536.3 0.0  
Tools & Outdoor      
Segment Reporting Information [Line Items]      
Capital and Software Expenditures 236.5 301.5 264.7
Depreciation and Amortization 396.7 456.8 453.5
Engineered Fastening      
Segment Reporting Information [Line Items]      
Capital and Software Expenditures 46.8 52.4 74.0
Depreciation and Amortization 115.7 132.7 $ 171.6
Operating Segments      
Segment Reporting Information [Line Items]      
Segment Assets 20,107.5 22,098.7  
Operating Segments | Tools & Outdoor      
Segment Reporting Information [Line Items]      
Segment Assets 17,705.5 18,135.8  
Operating Segments | Engineered Fastening      
Segment Reporting Information [Line Items]      
Segment Assets 2,402.0 3,962.9  
Corporate Nonsegment      
Segment Reporting Information [Line Items]      
Segment Assets $ (400.1) $ (249.8)  
v3.25.4
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Schedule of Net Sales and Property Plant and Equipment, Net by Geographic Area (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Segment Reporting Disclosure [Line Items]      
Net Sales $ 15,130.4 $ 15,365.7 $ 15,781.1
Property, Plant & Equipment, net 1,831.8 2,034.3  
United States      
Segment Reporting Disclosure [Line Items]      
Net Sales 9,316.8 9,505.4 9,861.3
Property, Plant & Equipment, net 1,053.3 1,256.8  
Canada      
Segment Reporting Disclosure [Line Items]      
Net Sales 680.3 739.5 761.5
Property, Plant & Equipment, net 5.1 5.6  
Other Americas      
Segment Reporting Disclosure [Line Items]      
Net Sales 839.6 879.7 870.9
Property, Plant & Equipment, net 195.3 208.4  
Europe      
Segment Reporting Disclosure [Line Items]      
Net Sales 3,079.8 3,018.3 3,024.7
Property, Plant & Equipment, net 290.0 273.4  
Asia      
Segment Reporting Disclosure [Line Items]      
Net Sales 1,213.9 1,222.8 $ 1,262.7
Property, Plant & Equipment, net $ 288.1 $ 290.1  
v3.25.4
INCOME TAXES - Schedule of Components of Earnings (Loss) from Continuing Operations Before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Income Tax Disclosure [Abstract]      
United States $ (597.2) $ (925.4) $ (1,385.0)
Foreign 1,015.1 1,166.5 1,009.3
Earnings (loss) from continuing operations before income taxes $ 417.9 $ 241.1 $ (375.7)
v3.25.4
INCOME TAXES - Schedule of Income Taxes on Continuing Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Current:      
Federal $ (154.5) $ 4.3 $ 5.8
Foreign 233.4 174.9 307.4
State 1.5 2.8 17.1
Total current 80.4 182.0 330.3
Deferred:      
Federal (126.0) (181.5) (158.2)
Foreign 78.6 (17.5) (218.3)
State (17.0) (28.2) (47.8)
Total deferred (64.4) (227.2) (424.3)
Income taxes on continuing operations $ 16.0 $ (45.2) $ (94.0)
v3.25.4
INCOME TAXES - Schedule of Cash Taxes Paid, Net of Refunds (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Income Taxes Paid, Net      
Federal $ 113.3    
State 10.4    
Foreign 206.4    
Total net income taxes paid 330.1 $ 352.3 $ 415.2
China      
Income Taxes Paid, Net      
Foreign 27.9    
Mexico      
Income Taxes Paid, Net      
Foreign 27.4    
Canada      
Income Taxes Paid, Net      
Foreign $ 17.3    
v3.25.4
INCOME TAXES - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Tax Credit Carryforward [Line Items]      
Total net income taxes paid $ 330.1 $ 352.3 $ 415.2
Refunds   53.1 25.3
Valuation allowance 1,086.0 967.8  
Liability on undistributed foreign earnings 36.0 11.8  
Undistributed earnings of foreign subsidiaries 1,300.0    
Unrecognized tax benefits that would impact effective tax rate 360.5 447.1  
Unrecognized tax benefits, income tax penalties and interest expense increase (decrease) (24.6) 1.0 15.5
Unrecognized tax benefits, income tax penalties and interest accrued 40.7 $ 65.3 $ 64.3
State and Local Jurisdiction      
Tax Credit Carryforward [Line Items]      
Operating loss carryforwards 1,600.0    
State and Local Jurisdiction | Capital Loss Carryforward      
Tax Credit Carryforward [Line Items]      
Tax credit carryforward 21.8    
Foreign Tax Jurisdiction      
Tax Credit Carryforward [Line Items]      
Operating loss carryforwards 3,800.0    
Foreign Tax Jurisdiction | Capital Loss Carryforward      
Tax Credit Carryforward [Line Items]      
Tax credit carryforward 20.9    
Foreign Tax Jurisdiction | Luxembourg      
Tax Credit Carryforward [Line Items]      
Operating loss carryforwards 2,300.0    
Foreign Tax Jurisdiction | United Kingdom      
Tax Credit Carryforward [Line Items]      
Operating loss carryforwards 905.1    
Foreign Tax Jurisdiction | France      
Tax Credit Carryforward [Line Items]      
Operating loss carryforwards 203.5    
Foreign Tax Jurisdiction | Germany      
Tax Credit Carryforward [Line Items]      
Operating loss carryforwards 126.0    
Foreign Tax Jurisdiction | BRAZIL      
Tax Credit Carryforward [Line Items]      
Operating loss carryforwards 78.2    
Foreign Tax Jurisdiction | Other Geographical      
Tax Credit Carryforward [Line Items]      
Operating loss carryforwards 184.4    
Domestic Tax Jurisdiction | Capital Loss Carryforward      
Tax Credit Carryforward [Line Items]      
Tax credit carryforward $ 24.1    
v3.25.4
INCOME TAXES - Schedule of Reconciliation of U.S. Federal Statutory Income Tax to Income Taxes on Continuing Operations - 2025 (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Amount      
U.S. federal statutory tax rate $ 87.8 $ 50.6 $ (78.9)
State income taxes, net of federal benefits (11.1) (21.2) (23.6)
Foreign tax rate differential 50.2 (0.9) (48.0)
Withholding taxes 26.8 13.6 38.9
Other adjustments   (8.6) 30.5
Change in tax rates   0.7 0.2
Change in valuation allowance   (28.1) 33.5
Effect of cross-border tax laws 55.1    
Deemed royalty income 18.1    
Global intangible low-taxed income 17.1    
Subpart F income 16.1    
Other 3.8    
Tax credits (10.9) (20.2) (17.8)
Nontaxable or nondeductible items 38.7    
Share-based payment awards 11.8    
Other 26.9    
Changes in unrecognized tax benefits (101.1)    
Capital loss (107.9) (64.4) 0.0
Other 15.2 0.3 0.3
Income taxes on continuing operations $ 16.0 $ (45.2) $ (94.0)
Percent      
U.S. federal statutory tax rate 21.00%    
State and local income taxes, net of federal income tax effect (in percent) (2.70%)    
Withholding taxes 6.40%    
Foreign tax effects 12.00%    
Effect of cross-border tax laws 13.20%    
Deemed royalty income 4.30%    
Global intangible low-taxed income 4.10%    
Subpart F income 3.90%    
Other 0.90%    
Tax credits (2.60%)    
Nontaxable or nondeductible items 9.30%    
Share-based payment awards 2.80%    
Other 6.40%    
Changes in unrecognized tax benefits (24.20%)    
Capital loss (25.80%)    
Other 3.60%    
Effective tax rate 3.80%    
China      
Amount      
Other adjustments $ 3.5    
Percent      
Other adjustments 0.80%    
Cyprus      
Amount      
Foreign tax rate differential $ (23.1)    
Other adjustments $ (4.1)    
Percent      
Other adjustments (1.00%)    
Foreign tax effects (5.50%)    
Germany      
Amount      
Other adjustments $ 3.5    
Change in tax rates $ 13.2    
Percent      
Other adjustments 0.80%    
Enacted changes in tax laws or rates 3.20%    
Mexico      
Amount      
Other adjustments $ 6.4    
Change in valuation allowance $ 15.3    
Percent      
Other adjustments 1.50%    
Changes in valuation allowances 3.70%    
Other foreign jurisdictions      
Amount      
Foreign tax rate differential $ 8.7    
Percent      
Foreign tax effects 2.10%    
United States      
Amount      
Other adjustments $ (92.7)    
Percent      
Other adjustments (22.20%)    
v3.25.4
INCOME TAXES - Schedule of Reconciliation of U.S. Federal Statutory Income Tax to Income Taxes on Continuing Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Income Tax Disclosure [Abstract]      
U.S. federal statutory tax rate $ 87.8 $ 50.6 $ (78.9)
State income taxes, net of federal benefits (11.1) (21.2) (23.6)
Foreign tax rate differential 50.2 (0.9) (48.0)
Other adjustments   (8.6) 30.5
Change in valuation allowance   (28.1) 33.5
Change in deferred tax liabilities on undistributed foreign earnings   1.2 0.0
Stock-based compensation   8.0 8.2
Change in tax rates   0.7 0.2
Tax credits (10.9) (20.2) (17.8)
U.S. federal tax expense on foreign earnings   15.9 63.6
Intra-entity asset transfer of intellectual property   0.0 (131.3)
Withholding taxes 26.8 13.6 38.9
Impairment on assets held for sale   4.0 30.4
Capital loss (107.9) (64.4) 0.0
Global minimum taxes   3.9 0.0
Other 15.2 0.3 0.3
Income taxes on continuing operations $ 16.0 $ (45.2) $ (94.0)
v3.25.4
INCOME TAXES - Schedule of Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Deferred tax assets:    
Employee benefit plans $ 120.5 $ 137.9
Basis differences in liabilities 141.0 139.5
Operating loss, capital loss and tax credit carryforwards 989.7 983.7
Lease liability 114.2 123.3
Intangible assets 711.2 636.2
Capitalized research and development costs 155.6 205.3
Interest expense carryforward 291.1 207.2
Inventory 100.8 22.5
Other 157.8 151.3
Total deferred tax assets 2,781.9 2,606.9
Less: Valuation allowance (1,086.0) (967.8)
Deferred tax asset, net of valuation allowance 1,695.9 1,639.1
Deferred tax liabilities:    
Depreciation 61.2 73.9
Intangible assets 737.2 799.6
Liability on undistributed foreign earnings 36.0 11.8
Lease right-of-use asset 110.5 118.1
Other 42.9 37.4
Total deferred tax liabilities 987.8 1,040.8
Net deferred tax asset $ 708.1 $ 598.3
v3.25.4
INCOME TAXES - Schedule of Activity Related to Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Unrecognized Tax Benefits [Roll Forward]      
Balance at beginning of year $ 452.4 $ 481.3 $ 502.7
Additions based on tax positions related to current year 25.0 41.4 20.9
Additions based on tax positions related to prior years 36.1 10.2 20.4
Reductions based on tax positions related to prior years (142.8) (41.6) (8.2)
Settlements (4.4) (10.2) (16.2)
Statute of limitations expirations (1.0) (28.7) (16.8)
Reclassification to long-term liabilities held for sale 0.0 0.0 (21.5)
Balance at end of year $ 365.3 $ 452.4 $ 481.3
v3.25.4
COMMITMENTS AND GUARANTEES - Schedule of Right-of-Use Assets and Lease Liabilities (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Commitments and Guarantees [Abstract]    
Right-of-use assets $ 464.3 $ 473.4
Lease liabilities $ 476.7 $ 491.8
Weighted-average incremental borrowing rate (as percent) 4.70% 4.70%
Weighted-average remaining term (in years) 6 years 6 years
v3.25.4
COMMITMENTS AND GUARANTEES - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Guarantor Obligations [Line Items]      
Operating lease, right-of-use asset, statement of financial position, extensible enumeration Other assets Other assets  
Operating lease, liability, statement of financial position, extensible enumeration Accrued expenses, Other liabilities Accrued expenses, Other liabilities  
Right-of-use assets $ 464.3 $ 473.4  
Lease liabilities 476.7 491.8  
Increase in lease liability 63.6 72.2  
Payments on operating leases 133.0 $ 136.9 $ 128.3
Total 551.5    
2026 138.8    
2027 111.6    
2028 86.1    
2029 68.7    
2030 50.1    
Thereafter $ 96.2    
Supplier finance program, obligation, current, statement of financial position, extensible enumeration Accounts payable Accounts payable  
Supplier finance program, obligation, current $ 349.3 $ 483.6  
Lease guarantees 329.4    
Carrying amount of guarantees recorded in the consolidated balance sheet $ 17.8    
Product warranties (in years) 1 year    
Discontinued Operations, Held-for-Sale | Consolidated Aerospace Manufacturing (CAM)      
Guarantor Obligations [Line Items]      
Right-of-use assets $ 7.2    
Lease liabilities 7.0    
Total 9.4    
2026 2.6    
2027 1.3    
2028 1.2    
2029 1.2    
2030 1.3    
Thereafter 1.8    
Guarantees on the residual values of leased properties      
Guarantor Obligations [Line Items]      
Lease guarantees 45.5    
Carrying amount of guarantees recorded in the consolidated balance sheet 0.0    
Lease Obligations      
Guarantor Obligations [Line Items]      
Residual value of leased asset 57.1    
Standby letters of credit      
Guarantor Obligations [Line Items]      
Lease guarantees 177.2    
Carrying amount of guarantees recorded in the consolidated balance sheet 0.0    
Commercial customer financing arrangements      
Guarantor Obligations [Line Items]      
Lease guarantees 106.7    
Carrying amount of guarantees recorded in the consolidated balance sheet $ 17.8    
v3.25.4
COMMITMENTS AND GUARANTEES - Schedule of Total Lease Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Commitments and Guarantees [Abstract]      
Operating lease cost $ 151.8 $ 139.6 $ 144.0
Short-term lease cost 31.6 33.0 31.2
Variable lease cost 4.3 8.3 11.2
Sublease income (1.7) (2.5) (3.2)
Total lease cost $ 186.0 $ 178.4 $ 183.2
v3.25.4
COMMITMENTS AND GUARANTEES - Schedule of Future Lease Obligations on Undiscounted Basis (Details)
$ in Millions
Jan. 03, 2026
USD ($)
Commitments and Guarantees [Abstract]  
Total $ 551.5
2026 138.8
2027 111.6
2028 86.1
2029 68.7
2030 50.1
Thereafter $ 96.2
v3.25.4
COMMITMENTS AND GUARANTEES - Schedule of Future Marketing Commitments (Details) - Marketing Commitments
$ in Millions
Jan. 03, 2026
USD ($)
Guarantor Obligations [Line Items]  
Total $ 80.5
2026 41.1
2027 19.2
2028 10.7
2029 4.9
2030 4.6
Thereafter $ 0.0
v3.25.4
COMMITMENTS AND GUARANTEES - Schedule of Unconditional Purchase Obligations Related to Supplier Agreement (Details)
$ in Millions
Jan. 03, 2026
USD ($)
Commitments and Guarantees [Abstract]  
Total $ 131.4
2026 59.9
2027 71.5
2028 0.0
2029 0.0
2030 0.0
Thereafter $ 0.0
v3.25.4
COMMITMENTS AND GUARANTEES - Schedule of Outstanding Obligations Under SCF Programs (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Supplier Finance Program, Obligation [Roll Forward]      
Balance, beginning of year $ 483.6 $ 528.1  
Additions 1,715.8 2,111.5  
Reductions for payments (1,855.5) (2,153.3)  
Foreign currency translation and other 5.4 (2.7)  
Balance, end of year $ 349.3 $ 483.6  
Supplier finance program, obligation, statement of financial position Accounts payable Accounts payable Accounts payable
v3.25.4
COMMITMENTS AND GUARANTEES - Schedule of Financial Guarantees (Details)
$ in Millions
 12 Months Ended
Jan. 03, 2026
USD ($)
Guarantor Obligations [Line Items]  
Maximum Potential Payment $ 329.4
Carrying Amount of Liability 17.8
Guarantees on the residual values of leased properties  
Guarantor Obligations [Line Items]  
Maximum Potential Payment 45.5
Carrying Amount of Liability 0.0
Standby letters of credit  
Guarantor Obligations [Line Items]  
Maximum Potential Payment 177.2
Carrying Amount of Liability 0.0
Commercial customer financing arrangements  
Guarantor Obligations [Line Items]  
Maximum Potential Payment 106.7
Carrying Amount of Liability $ 17.8
Minimum | Guarantees on the residual values of leased properties  
Guarantor Obligations [Line Items]  
Term 4 years
Maximum | Guarantees on the residual values of leased properties  
Guarantor Obligations [Line Items]  
Term 9 years
Maximum | Standby letters of credit  
Guarantor Obligations [Line Items]  
Term 20 years
Maximum | Commercial customer financing arrangements  
Guarantor Obligations [Line Items]  
Term 10 years
v3.25.4
COMMITMENTS AND GUARANTEES - Schedule of Changes in Carrying Amount of Product Warranties (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]      
Balance beginning of period $ 140.1 $ 136.7 $ 126.6
Warranties and guarantees issued 177.6 180.3 171.3
Warranty payments and currency (159.9) (176.9) (161.2)
Balance end of period $ 157.8 $ 140.1 $ 136.7
v3.25.4
CONTINGENCIES (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Dec. 18, 2024
company
Jan. 19, 2024
USD ($)
Dec. 16, 2022
USD ($)
company
Sep. 28, 2021
USD ($)
mi
Jun. 30, 2018
company
Mar. 04, 2016
USD ($)
company
mi
Oct. 31, 2025
USD ($)
Mar. 31, 2017
mi
Jan. 03, 2026
USD ($)
site
Dec. 28, 2024
USD ($)
Sep. 08, 2025
party
Oct. 31, 2024
party
Commitments and Contingencies Disclosure [Line Items]                        
Penalty charge   $ 32.0                    
Superfund sites | site                 23      
Environmental loss contingency, statement of financial position, not disclosed                 reserves reserves    
Reserve for environmental remediation costs, current                 $ 69.5 $ 51.4    
Environmental loss contingency, noncurrent, statement of financial position, not disclosed                 long-term within Other liabilities,      
Environmental remediation costs deemed probable and reasonable estimable     $ 150.0 $ 441.0   $ 1,400.0            
Undiscounted environmental liability expected to be paid in 2026                 $ 17.2      
Undiscounted environmental liability expected to be paid in 2027                 7.3      
Undiscounted environmental liability expected to be paid in 2028                 7.3      
Undiscounted environmental liability expected to be paid in 2029                 7.3      
Undiscounted environmental liability expected to be paid in 2030                 4.1      
Undiscounted environmental liability expected to be paid thereafter                 64.5      
Reserve for environmental loss contingencies, EPA funded amount                 $ 15.6      
Environmental remediation, period construction of treatment facility to be maintained (in years)                 30 years      
Number of defendants | company         100 100            
Number of miles of river | mi       9                
Number of parties | company 2   85                  
Estimated environmental remediation expense, statement of income or comprehensive income, extensible enumeration, not disclosed flag                 remediation costs      
Occidental Chemical Corporation, A Texas Corporation | Berkshire Hathaway, Inc                        
Commitments and Contingencies Disclosure [Line Items]                        
Equity ownership percentage             100.00%          
Proceeds from sale             $ 9,700.0          
Lower Passaic River Operable Unit-4                        
Commitments and Contingencies Disclosure [Line Items]                        
Number of miles of river | mi           17   17        
Lower Passaic River Operable Unit-2                        
Commitments and Contingencies Disclosure [Line Items]                        
Number of miles of river | mi           8.3            
Minimum                        
Commitments and Contingencies Disclosure [Line Items]                        
Environmental liability discount rate (as percent)                 3.60%      
Undiscounted environmental liability                 $ 74.2      
Maximum                        
Commitments and Contingencies Disclosure [Line Items]                        
Environmental liability discount rate (as percent)                 4.70%      
Undiscounted environmental liability                 $ 107.7      
Property, Plant and Equipment, Other Types                        
Commitments and Contingencies Disclosure [Line Items]                        
Environmental remediation costs, reserve                 259.2 $ 275.4    
Reserve for environmental remediation costs, current                 69.5      
Reserve for environmental remediation costs, noncurrent                 189.7      
Net cash obligations                 243.6      
Reserve for environmental loss contingencies, obligation after EPA funding                 7.2      
Estimated environmental remediation expense                 18.8      
Property, Plant and Equipment, Other Types | Minimum                        
Commitments and Contingencies Disclosure [Line Items]                        
Environmental remediation costs deemed probable and reasonable estimable                 179.1      
Property, Plant and Equipment, Other Types | Maximum                        
Commitments and Contingencies Disclosure [Line Items]                        
Environmental remediation costs deemed probable and reasonable estimable                 395.7      
Centredale Site                        
Commitments and Contingencies Disclosure [Line Items]                        
Environmental remediation costs deemed probable and reasonable estimable                 $ 156.5      
Number of potentially responsible parties | party                     4 4
v3.25.4
DIVESTITURES - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Apr. 01, 2024
Mar. 30, 2024
Dec. 30, 2023
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Pre-tax income (loss)       $ (0.3) $ 0.0 $ (10.8)  
Asset impairment charges       189.5 72.4 274.8  
Discontinued Operations, Held-for-Sale | Consolidated Aerospace Manufacturing (CAM)              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Proceeds from sales of businesses, net of cash sold             $ 1,800.0
Pre-tax income (loss)       $ 29.5 25.9 (12.2)  
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Infrastructure              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Proceeds from sales of businesses, net of cash sold $ 760.0            
Proceeds from sales of businesses, net of cash sold $ 728.5            
Pre-tax income (loss)         $ 9.6 $ 52.0  
Asset impairment charges   $ 25.5 $ 150.8        
v3.25.4
DIVESTITURES - Schedule of Pre Tax Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Pre-tax income (loss) $ (0.3) $ 0.0 $ (10.8)
Discontinued Operations, Held-for-Sale | Consolidated Aerospace Manufacturing (CAM)      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Pre-tax income (loss) $ 29.5 $ 25.9 $ (12.2)
v3.25.4
DIVESTITURES - Schedule of Carrying Amounts of Assets and Liabilities Aggregated in Assets and Liabilities Held for Sale (Details) - USD ($)
$ in Millions
Jan. 03, 2026
Dec. 28, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Total assets $ 1,536.3 $ 0.0
Discontinued Operations, Held-for-Sale | Consolidated Aerospace Manufacturing (CAM)    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Accounts and notes receivable, net 94.2  
Inventories, net 168.0  
Other current assets 0.2  
Property, plant and equipment, net 117.1  
Goodwill 739.4  
Intangibles, net 410.1  
Other assets 7.3  
Total assets 1,536.3  
Accounts payable and accrued expenses 44.2  
Other long-term liabilities 9.4  
Total liabilities $ 53.6