STANLEY BLACK & DECKER, INC., 10-Q filed on 4/30/2025
Quarterly Report
v3.25.1
Cover Page - shares
 3 Months Ended
Mar. 29, 2025
Apr. 24, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 29, 2025  
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 Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   154,712,529
Entity Central Index Key 0000093556  
Current Fiscal Year End Date --01-03  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Income Statement [Abstract]    
Net Sales $ 3,744.6 $ 3,869.5
Costs and Expenses    
Cost of sales 2,623.8 2,761.0
Selling, general and administrative 852.5 852.0
Provision for credit losses 14.5 (0.2)
Other, net 47.5 80.0
Loss on sale of business 0.3 0.0
Asset impairment charge 0.0 25.5
Restructuring charges 1.2 15.0
Interest income (49.2) (43.6)
Interest expense 126.4 131.5
Costs and Expenses 3,617.0 3,821.2
Earnings before income taxes 127.6 48.3
Income taxes 37.2 28.8
Net Earnings 90.4 19.5
Total Comprehensive Income (Loss) $ 218.8 $ (96.7)
Earnings per share of common stock:    
Basic (in dollars per share) $ 0.60 $ 0.13
Diluted (in dollars per share) $ 0.60 $ 0.13
v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Current Assets    
Cash and cash equivalents $ 344.8 $ 290.5
Accounts and notes receivable, net 1,566.0 1,153.7
Inventories, net 4,707.1 4,536.4
Prepaid expenses 356.9 347.1
Other current assets 34.3 50.0
Total Current Assets 7,009.1 6,377.7
Property, plant and equipment, net 2,010.0 2,034.3
Goodwill 7,950.8 7,905.5
Intangibles, net 3,698.4 3,730.9
Other assets 1,827.9 1,800.5
Total Assets 22,496.2 21,848.9
Current Liabilities    
Short-term borrowings 1,135.2 0.0
Current maturities of long-term debt 849.4 500.4
Accounts payable 2,531.6 2,437.2
Accrued expenses 1,832.5 1,979.3
Total Current Liabilities 6,348.7 4,916.9
Long-term debt 4,755.2 5,602.6
Deferred taxes 138.7 165.3
Post-retirement benefits 329.7 325.9
Other liabilities 2,082.3 2,118.3
Commitments and Contingencies (Notes P and O)
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 8,309.2 8,343.3
Additional paid in capital 5,055.7 5,071.3
Accumulated other comprehensive loss (2,192.5) (2,320.9)
Stockholders' equity subtotal 11,614.7 11,536.0
Less: cost of common stock in treasury (22,214,733 shares in 2025 and 22,529,805 shares in 2024) (2,773.1) (2,816.1)
Total Shareowners’ Equity 8,841.6 8,719.9
Total Liabilities and Shareowners’ Equity $ 22,496.2 $ 21,848.9
v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Mar. 29, 2025
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) 22,214,733 22,529,805
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
OPERATING ACTIVITIES    
Net earnings $ 90.4 $ 19.5
Adjustments to reconcile net earnings to cash used in operating activities:    
Depreciation and amortization of property, plant and equipment 91.1 99.1
Amortization of intangibles 37.3 41.1
Loss on sale of business 0.3 0.0
Asset impairment charge 0.0 25.5
Stock-based compensation expense 36.4 41.3
Changes in working capital (469.0) (359.8)
Changes in other assets and liabilities (206.5) (297.7)
Cash used in operating activities (420.0) (431.0)
INVESTING ACTIVITIES    
Capital and software expenditures (65.0) (65.7)
Proceeds from sale of business, net of cash sold 5.0 0.0
Other 2.3 2.5
Cash used in investing activities (57.7) (63.2)
FINANCING ACTIVITIES    
Payment on long-term debt (500.0) 0.0
Net short-term commercial paper borrowings 1,136.2 674.9
Proceeds from issuances of common stock 2.7 3.8
Purchases of common stock for treasury (11.7) (6.3)
Cash dividends on common stock (124.5) (121.8)
Other (0.7) (2.0)
Cash provided by financing activities 502.0 548.6
Effect of exchange rate changes on cash, cash equivalents and restricted cash 31.5 (27.6)
Change in cash, cash equivalents and restricted cash 55.8 26.8
Cash, cash equivalents and restricted cash, beginning of period 292.8 454.6
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 348.6 481.4
Supplemental Cash Flow Elements [Abstract]    
Cash and cash equivalents 344.8  
Restricted cash included in Other current assets 3.8  
Cash, cash equivalents and restricted cash $ 348.6 $ 481.4
v3.25.1
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
Beginning balance at Dec. 30, 2023 $ 9,056.1 $ 442.3 $ 5,059.0 $ 8,540.2 $ (2,069.1) $ (2,916.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings 19.5     19.5    
Other comprehensive income (loss) (116.2)       (116.2)  
Cash dividends declared (121.8)     (121.8)    
Issuance of common stock 3.8   (35.0)     38.8
Repurchase of common stock (6.3)         (6.3)
Stock-based compensation related 41.3   41.3      
Ending balance at Mar. 30, 2024 8,876.4 442.3 5,065.3 8,437.9 (2,185.3) (2,883.8)
Beginning balance at Dec. 28, 2024 8,719.9 442.3 5,071.3 8,343.3 (2,320.9) (2,816.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings 90.4     90.4    
Other comprehensive income (loss) 128.4       128.4  
Cash dividends declared (124.5)     (124.5)    
Issuance of common stock 2.7   (52.0)     54.7
Repurchase of common stock (11.7)         (11.7)
Stock-based compensation related 36.4   36.4      
Ending balance at Mar. 29, 2025 $ 8,841.6 $ 442.3 $ 5,055.7 $ 8,309.2 $ (2,192.5) $ (2,773.1)
v3.25.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY (Parenthetical) - $ / shares
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Statement of Stockholders' Equity [Abstract]    
Cash dividends declared (in dollars per share) $ 0.82 $ 0.81
Issuance of common stock (in shares) 452,443 303,005
Repurchase of common stock (in shares) 137,371 70,802
v3.25.1
SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (hereinafter referred to as “generally accepted accounting principles”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations for the interim periods have been included and are of a normal, recurring nature. Operating results for the three months ended March 29, 2025 are not necessarily indicative of the results that may be expected for a full fiscal year. For further information, refer to the consolidated financial statements and footnotes included in Stanley Black & Decker, Inc.’s (the “Company”) Annual Report on Form 10-K for the year ended December 28, 2024, and subsequent related filings with the Securities and Exchange Commission ("SEC").

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 April 1, 2024, the Company completed the sale of its Infrastructure business. This divestiture did not qualify for discontinued operations and therefore, its results were included in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) through the date of sale. The sale of the Infrastructure business is 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 Q, Divestitures, for further discussion of this transaction.
The preparation of financial statements in conformity with generally accepted accounting principles 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.
v3.25.1
NEW ACCOUNTING STANDARDS
 3 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
NEW ACCOUNTING STANDARDS NEW ACCOUNTING STANDARDS
RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET 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 is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements.
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.
v3.25.1
EARNINGS PER SHARE
 3 Months Ended
Mar. 29, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The following table reconciles net earnings and the weighted-average shares outstanding used to calculate basic and diluted earnings per share of common stock for the three months ended March 29, 2025 and March 30, 2024:
Year-to-Date
20252024
Numerator (in millions):
Net Earnings$90.4 $19.5 
Denominator (in thousands):
Basic weighted-average shares outstanding151,028 150,235 
Dilutive effect of stock contracts and awards671 706 
Diluted weighted-average shares outstanding151,699 150,941 
Earnings per share of common stock:
Basic$0.60 $0.13 
Diluted$0.60 $0.13 


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):
Year-to-Date
20252024
Number of stock options5,753 4,995 
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 June 2024, the Company amended the forward share purchase contract and updated the final settlement date to June 2026, 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.
v3.25.1
ACCOUNTS AND NOTES RECEIVABLE, NET
 3 Months Ended
Mar. 29, 2025
Receivables [Abstract]  
ACCOUNTS AND NOTES RECEIVABLE, NET ACCOUNTS AND NOTES RECEIVABLE, NET
(Millions of Dollars)March 29, 2025December 28, 2024
Trade accounts receivable$1,358.9 $950.4 
Notes receivable82.5 65.9 
Other accounts receivable215.7 222.1 
Accounts and notes receivable$1,657.1 $1,238.4 
Allowance for credit losses(91.1)(84.7)
Accounts and notes receivable, net$1,566.0 $1,153.7 
Trade receivables are dispersed among a large number of retailers, distributors and industrial accounts in many countries. Adequate reserves have been established to cover anticipated credit losses.
The changes in the allowance for credit losses for the three months ended March 29, 2025 and March 30, 2024 are as follows:
Year-to-Date
(Millions of Dollars)20252024
Beginning balance$84.7 $76.6 
Charged to costs and expenses14.5(0.2)
Other, including recoveries and deductions (a)(8.1)(1.5)
Balance end of period$91.1 $74.9 
(a) Amounts represent charge-offs less recoveries, the impacts of foreign currency translation, divestitures and net transfers to/from other accounts.
The Company's payment terms are generally consistent with the industries in which their businesses operate and typically range from 30-90 days globally. The Company does not adjust the promised amount of consideration for the effects of a significant financing component when the period between transfer of the product and receipt of payment is less than one year. Any significant financing components for contracts greater than one year are included in revenue over time.

The Company has an accounts receivable sale program. According to the terms, 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. The purpose of the program is to provide liquidity to the Company. These transfers qualify as sales under Accounting Standards Codification ("ASC") 860, Transfers and Servicing, and receivables are derecognized from the Company’s consolidated balance sheet when the BRS sells those receivables to the Purchaser. The Company has no retained interests in the transferred receivables, other than collection and administrative responsibilities. At March 29, 2025, 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.

At March 29, 2025 and December 28, 2024, net receivables of $60.9 million and $95.1 million, respectively, were derecognized. Proceeds from transfers of receivables to the Purchaser totaled $50.0 million and $59.6 million for the three months ended March 29, 2025 and March 30, 2024, respectively, and payments to the Purchaser totaled $84.2 million and $105.2 million, respectively. The program resulted in a pre-tax loss of $0.8 million and $1.2 million for the three months ended March 29, 2025, and March 30, 2024, respectively. All cash flows under the program are reported as a component of changes in working capital within operating activities in the Condensed Consolidated Statements of Cash Flows since all the cash from the Purchaser is received upon the initial sale of the receivable.
As of March 29, 2025 and December 28, 2024, the Company's deferred revenue totaled $99.8 million and $101.6 million, respectively. The current portion of deferred revenue was $31.3 million as of March 29, 2025 and December 28, 2024. Revenue recognized for the three months ended March 29, 2025 and March 30, 2024 that was previously deferred as of December 28, 2024 and December 30, 2023 totaled $6.4 million and $5.9 million, respectively.
v3.25.1
INVENTORIES, NET
 3 Months Ended
Mar. 29, 2025
Inventory Disclosure [Abstract]  
INVENTORIES, NET INVENTORIES, NET
(Millions of Dollars)March 29, 2025December 28, 2024
Finished products$3,082.2 $2,943.5 
Work in process383.3 346.3 
Raw materials1,241.6 1,246.6 
Total$4,707.1 $4,536.4 
v3.25.1
GOODWILL
 3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
Changes in the carrying amount of goodwill by segment are as follows:
(Millions of Dollars)Tools & Outdoor
Engineered Fastening
Total
Balance December 28, 2024$5,909.2 $1,996.3 $7,905.5 
Foreign currency translation & other44.3 1.0 45.3 
Balance March 29, 2025$5,953.5 $1,997.3 $7,950.8 
v3.25.1
LONG-TERM DEBT AND FINANCING ARRANGEMENTS
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND FINANCING ARRANGEMENTS LONG-TERM DEBT AND FINANCING ARRANGEMENTS
March 29, 2025December 28, 2024
(Millions of Dollars)Interest RateNotional Value
Carrying Value1
Carrying Value
Notes payable due 20252.30%$— $— $499.9 
Notes payable due 20263.40%500.0 499.5 499.4 
Notes payable due 20266.27%350.0 349.4 349.3 
Notes payable due 20263.42%25.0 25.6 25.7 
Notes payable due 20261.84%27.0 27.5 26.7 
Notes payable due 20286.00%400.0 398.3 398.0 
Notes payable due 20287.05%150.0 156.9 157.5 
Notes payable due 20284.25%500.0 498.3 498.3 
Notes payable due 20283.52%50.0 52.3 52.4 
Notes payable due 20302.30%750.0 746.2 746.2 
Notes payable due 20323.00%500.0 496.9 496.6 
Notes payable due 20405.20%400.0 375.1 374.5 
Notes payable due 20484.85%500.0 495.2 495.2 
Notes payable due 20502.75%750.0 741.1 741.0 
Notes payable due 2060 (junior subordinated)2
6.71%750.0 741.7 741.6 
Other, payable in varying amounts 2025 through 2026
4.23%-4.31%
0.6 0.6 0.7 
Total Long-term debt, including current maturities$5,652.6 $5,604.6 $6,103.0 
Less: Current maturities of long-term debt(849.4)(500.4)
Long-term debt$4,755.2 $5,602.6 
1Carrying values are net of unamortized discounts of $(4.7) million, deferred issuance costs of $(31.0) million, unamortized terminated swaps of $(19.2) million, and purchase accounting fair value adjustments of $6.9 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.

The Company has a $3.5 billion commercial paper program which includes Euro denominated borrowings in addition to U.S. Dollars. As of March 29, 2025, the Company had commercial paper borrowings outstanding of $1.1 billion, of which $215.7 million in Euro denominated commercial paper was designated as a net investment hedge. As of December 28, 2024, the Company had no commercial paper borrowings outstanding. Refer to Note H, Financial Instruments, for further discussion.

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 March 29, 2025 and December 28, 2024, the Company had not drawn on its five-year committed credit facility.
In June 2024, the Company terminated its 364-Day $1.5 billion committed credit facility ("the 2023 Syndicated 364-Day Credit Agreement") dated September 2023. There were no outstanding borrowings under the 2023 Syndicated 364-Day Credit Agreement upon termination. Contemporaneously, the Company entered into a new $1.25 billion syndicated 364-Day Credit Agreement (the "2024 Syndicated 364-Day Credit Agreement") which is a revolving credit loan. The borrowings under the 2024 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 2024 Syndicated 364-Day Credit Agreement. The Company must repay all advances under the 2024 Syndicated 364-Day Credit Agreement by the earlier of June 27, 2025 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 2024 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 March 29, 2025 and December 28, 2024, the Company had not drawn on its 2024 Syndicated 364-Day Credit Agreement.

The 5-Year Credit Agreement and the 2024 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 (i) 1.50 to 1.00 for any four fiscal quarter period ending on or before the end of the Company’s second fiscal quarter of 2024, and (ii) 2.50 to 1.00 for any four fiscal quarter period ending after the Company’s second fiscal quarter of 2024 through and including the Company’s second fiscal quarter of 2025. For purposes of calculating the Company’s compliance with the interest coverage ratio, as defined in each credit agreement, the Company is permitted to increase EBITDA to allow for additional adjustment addbacks incurred prior to the end of the Company’s second fiscal quarter of 2025, provided that (A) the sum of the applicable adjustment addbacks incurred through and including the Company’s second fiscal quarter of 2024 may not exceed $500 million in the aggregate, and (B) the sum of the applicable adjustment addbacks incurred from the Company’s third fiscal quarter of 2024 through and including the Company’s second fiscal quarter of 2025 may not exceed $250 million in the aggregate; provided, further, that the sum of the applicable adjustment addbacks for any four consecutive fiscal quarter period may not exceed $500 million in the aggregate.
v3.25.1
FINANCIAL INSTRUMENTS
 3 Months Ended
Mar. 29, 2025
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 Condensed Consolidated Balance Sheets at March 29, 2025 and December 28, 2024 is as follows: 
(Millions of Dollars)Balance Sheet
Classification		March 29, 2025December 28, 2024Balance Sheet
Classification		March 29, 2025December 28, 2024
Derivatives designated as hedging instruments:
Foreign Exchange Contracts Cash FlowOther current assets$10.6 $23.7 Accrued expenses$3.4 $0.9 
LT other assets0.2 — LT other liabilities— — 
Net Investment HedgeOther current assets1.5 — Accrued expenses0.5 — 
Non-derivative designated as hedging instrument:
Net Investment Hedge$— $— Short-term borrowings$215.7 $— 
Total designated as hedging instruments$12.3 $23.7 $219.6 $0.9 
Derivatives not designated as hedging instruments:
Foreign Exchange ContractsOther current assets$3.8 $8.9 Accrued expenses$12.1 $10.9 
Total$16.1 $32.6 $231.7 $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 March 29, 2025 and December 28, 2024, there were no assets that had been posted as collateral related to the above mentioned financial instruments.

During the three months ended March 29, 2025 and March 30, 2024, cash flows related to derivatives, including those that are separately discussed below, resulted in net cash received of $1.3 million and net cash paid of $15.4 million, respectively.

CASH FLOW HEDGES

There were after-tax mark-to-market losses of $25.7 million and $16.7 million as of March 29, 2025 and December 28, 2024, respectively, reported for cash flow hedge effectiveness in Accumulated other comprehensive loss. An after-tax gain of $3.2 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 the three months ended March 29, 2025 and March 30, 2024:

Year-to-Date 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$— Interest expense$(1.7)$— 
Foreign Exchange Contracts$(10.3)Cost of sales$3.6 $— 
Year-to-Date 2024
(Millions of Dollars)Gain (Loss)
Recorded in OCI		Classification of
Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Recognized in
Income on Amounts Excluded from Effectiveness Testing
Interest Rate Contracts$— Interest expense$(1.5)$— 
Foreign Exchange Contracts$7.0 Cost of sales$1.7 $— 

A summary of the pre-tax effect of cash flow hedge accounting on the Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 29, 2025 and March 30, 2024 is as follows:
Year-to-Date 2025
(Millions of Dollars)Cost of SalesInterest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the cash flow hedges are recorded$2,623.8 $126.4 
Gain (loss) on cash flow hedging relationships:
Foreign Exchange Contracts:
Hedged Items$(3.6)$— 
Gain (loss) reclassified from OCI into Income$3.6 $— 
Interest Rate Swap Agreements:
Gain (loss) reclassified from OCI into Income 1
$— $(1.7)
Year-to-Date 2024
(Millions of Dollars)Cost of SalesInterest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the cash flow hedges are recorded$2,761.0 $131.5 
Gain (loss) on cash flow hedging relationships:
Foreign Exchange Contracts:
Hedged Items$(1.7)$— 
Gain (loss) reclassified from OCI into Income$1.7 $— 
Interest Rate Swap Agreements:
Gain (loss) reclassified from OCI into Income 1
$— $(1.5)
1 Inclusive of the gain/loss amortization on terminated derivative financial instruments.

After-tax gains of $0.9 million and $0.1 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 for the three months ended March 29, 2025 and March 30, 2024, 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 or termination of the swaps were previously presented within financing activities in the Condensed Consolidated Statements of Cash Flows.

As of March 29, 2025 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 March 29, 2025 and
December 28, 2024, the notional value of forward currency contracts outstanding is $654.9 million and $537.8 million, respectively, maturing on various dates through 2026 and 2025, respectively. In April 2025, the Company entered into forward contracts with notional values totaling $341.0 million, maturing in 2025 and 2026.
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 in 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. As of March 29, 2025 and December 28, 2024, the Company did not have any active fair value interest rate swaps.

A summary of the pre-tax effect of fair value hedge accounting on the Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 29, 2025 and March 30, 2024 is as follows:
(Millions of Dollars)Year-to-Date 2025
Interest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the fair value hedges are recorded$126.4 
Amortization of gain on terminated swaps$(0.1)
(Millions of Dollars)Year-to-Date 2024
Interest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the fair value hedges are recorded$131.5 
Amortization of gain on terminated swaps$(0.1)

A summary of the amounts recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of March 29, 2025 and December 28, 2024 is as follows:
March 29, 2025
(Millions of Dollars)
Carrying Amount of Hedged Liability (1)
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability
Current Maturities of Long-Term Debt$849.4 Terminated Swaps$— 
Long-Term Debt$532.0 Terminated Swaps$(19.2)
December 28, 2024
(Millions of Dollars)
Carrying Amount of Hedged Liability (1)
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)
(1) Represents 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 $80.4 million and $78.4 million at March 29, 2025 and December 28, 2024, respectively.

As of March 29, 2025, the Company had cross currency swaps with notional values totaling $220.0 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 March 29, 2025, the Company had Euro denominated commercial paper with a value of $215.7 million, maturing in 2025, hedging a portion of the Company's Euro denominated net investments. As of December 28, 2024, the Company did not have any Euro denominated commercial paper.
Maturing foreign exchange contracts resulted in no cash received or paid for the three months ended March 29, 2025 and March 30, 2024.

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 and Comprehensive Income (Loss) in Other, net.

The pre-tax gain or loss from fair value changes for the three months ended March 29, 2025 and March 30, 2024 is as follows:

Year-to-Date 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$0.3 $— Other, net$— $— 
Cross Currency Swap$1.0 $— Other, net$— $— 
Non-derivative designated as Net Investment Hedge$1.3 $— Other, net$— $— 
Year-to-Date 2024
(Millions of Dollars)Total Gain (Loss) Recorded in OCIExcluded Component Recorded in OCIIncome Statement ClassificationTotal Gain (Loss) Reclassified from OCI to IncomeExcluded Component Amortized from OCI to Income
Forward Contracts$(0.2)$— Other, net$— $— 
Non-derivative designated as Net Investment Hedge$8.8 $— Other, net$— $— 
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 is $1.3 billion as of March 29, 2025 and December 28, 2024, maturing on various dates through 2025. The loss recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss) from changes in the fair value related to derivatives not designated as hedging instruments under ASC 815 for the three months ended March 29, 2025 and March 30, 2024 is as follows: 
(Millions of Dollars)Income Statement ClassificationYear-to-Date
 2025		Year-to-Date
 2024
Foreign Exchange ContractsOther, net$(8.0)$(13.9)
v3.25.1
ACCUMULATED OTHER COMPREHENSIVE LOSS
 3 Months Ended
Mar. 29, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS ACCUMULATED OTHER COMPREHENSIVE LOSS
The following tables summarize the changes in the balances for each component of Accumulated other comprehensive loss:
(Millions of Dollars)Currency translation adjustment and otherLosses on cash flow hedges, net of taxGains on net investment hedges, net of taxPension (losses) gains, net of taxTotal
Balance - December 28, 2024$(2,170.2)$(16.7)$78.4 $(212.4)$(2,320.9)
Other comprehensive income (loss) before reclassifications136.5 (8.1)2.0 (2.7)127.7 
Reclassification adjustments to earnings— (0.9)— 1.6 0.7 
Net other comprehensive income (loss)136.5 (9.0)2.0 (1.1)128.4 
Balance - March 29, 2025$(2,033.7)$(25.7)$80.4 $(213.5)$(2,192.5)
(Millions of Dollars)Currency translation adjustment and other(Losses) gains on cash flow hedges, net of taxGains on net investment hedges, net of taxPension (losses) gains, 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(130.8)5.1 6.5 1.0 (118.2)
Reclassification adjustments to earnings— (0.1)— 2.1 2.0 
Net other comprehensive (loss) income(130.8)5.0 6.5 3.1 (116.2)
Balance - March 30, 2024$(1,963.1)$(37.5)$71.4 $(256.1)$(2,185.3)

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 three months ended March 29, 2025 and March 30, 2024 were as follows:

(Millions of Dollars)20252024Affected line item in Consolidated Statements of Operations And Comprehensive Income (Loss)
Realized gains on cash flow hedges$3.6 $1.7 Cost of sales
Realized losses on cash flow hedges(1.7)(1.5)Interest expense
Total before taxes$1.9 $0.2 
Tax effect(1.0)(0.1)Income taxes
Realized gains on cash flow hedges, net of tax$0.9 $0.1 
Amortization of defined benefit pension items:
Actuarial losses and prior service costs / credits$(2.1)$(2.8)Other, net
Tax effect0.5 0.7 Income taxes
Amortization of defined benefit pension items, net of tax$(1.6)$(2.1)
v3.25.1
NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS
 3 Months Ended
Mar. 29, 2025
Retirement Benefits [Abstract]  
NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS NET PERIODIC BENEFIT COST — DEFINED BENEFIT PLANS
Following are the components of net periodic pension expense for the three months ended March 29, 2025 and March 30, 2024:
 Year-to-Date
Pension BenefitsOther Benefits
U.S. PlansNon-U.S. PlansAll Plans
(Millions of Dollars)202520242025202420252024
Service cost$1.9 $1.6 $2.8 $3.1 $0.1 $0.1 
Interest cost12.5 12.9 10.1 10.4 0.3 0.4 
Expected return on plan assets(14.8)(15.2)(11.7)(10.9)— — 
Amortization of prior service cost (credit)0.1 0.2 (0.2)(0.2)— — 
Amortization of net loss (gain)2.0 2.0 0.6 1.1 (0.4)(0.3)
Net periodic pension expense$1.7 $1.5 $1.6 $3.5 $— $0.2 
The components of net periodic benefit expense other than the service cost component are included in Other, net in the Consolidated Statements of Operations and Comprehensive Income (Loss).
v3.25.1
FAIR VALUE MEASUREMENTS
 3 Months Ended
Mar. 29, 2025
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
March 29, 2025
Money market fund$16.2 $16.2 $— $— 
Deferred compensation plan investments$14.4 $14.4 $— $— 
Derivative assets$16.1 $— $16.1 $— 
Derivative liabilities$16.0 $— $16.0 $— 
Non-derivative hedging instrument$215.7 $— $215.7 $— 
Contingent consideration liability$161.5 $— $— $161.5 
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:
 March 29, 2025December 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$5,604.6 $5,099.5 $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 approximate their carrying values at March 29, 2025 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 channels through March 2032. During the three months ended March 29, 2025, the Company paid $7.8 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 $161.5 million and $167.4 million as of March 29, 2025 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 and Comprehensive Income (Loss). A 100 basis point reduction in the discount rate would result in an increase to the liability of approximately $4.2 million as of March 29, 2025.

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 O, 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

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 Q, Divestitures, for further discussion. The Company had no other significant non-recurring fair value measurements, nor any other financial assets or liabilities measured using Level 3 inputs, during the first three months of 2025 or 2024.
v3.25.1
RESTRUCTURING CHARGES AND OTHER, NET
 3 Months Ended
Mar. 29, 2025
Restructuring and Related Activities [Abstract]  
RESTRUCTURING CHARGES AND OTHER, NET RESTRUCTURING CHARGES AND OTHER, NET
A summary of the restructuring reserve activity from December 28, 2024 to March 29, 2025 is as follows: 
(Millions of Dollars)December 28,
2024		Net AdditionsUsageCurrencyMarch 29,
2025
Severance and related costs$25.3 $6.7 $(6.2)$(0.4)$25.4 
Facility closures and other20.1 (5.5)(5.1)— 9.5 
Total$45.4 $1.2 $(11.3)$(0.4)$34.9 
For the three months ended March 29, 2025, the Company recognized net restructuring charges of $1.2 million primarily related to severance costs partially offset by adjustments to facility exit costs related to site closures as part of the supply chain transformation. The majority of the $34.9 million of reserves remaining as of March 29, 2025 is expected to be utilized within the next 12 months.
Segments: The $1.2 million of net restructuring charges for the three months ended March 29, 2025 includes: $1.6 million of net reversals in the Tools & Outdoor segment; $0.3 million of charges in the Engineered Fastening segment; and $2.5 million of charges in Corporate.

Other, net amounted to $47.5 million and $80.0 million for the three months ended March 29, 2025 and March 30, 2024, respectively, which included intangible asset amortization expense of $37.3 million and $41.1 million, respectively. Other, net is also comprised of several other items, none of which were individually significant during the three months ended March 29, 2025 and March 30, 2024, primarily related to currency-related gains or losses, environmental remediation expense, deal costs and related consulting costs, certain pension gains or losses, and income related to providing transition services to previously divested businesses.
v3.25.1
INCOME TAXES
 3 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
In accordance with ASC 740, Income Taxes, the Company estimates its annual effective tax rate each quarterly reporting period. Tax expense or benefit in interim periods is computed by applying the estimated annual effective tax rate to income or loss, and is adjusted for the tax effect of items of income and expense discretely reported in the period. The estimated annual effective tax rate used in determining income taxes on a year-to-date basis may change in subsequent interim periods. When changes to the estimated annual effective tax rate occur, the prior interim year-to-date tax expense or tax benefit is revised to reflect the revised estimated annual effective tax rate. Any adjustment is recorded in the period in which the change occurs.

For the three months ended March 29, 2025, the Company recognized income tax expense of $37.2 million, resulting in an effective tax rate of 29.2%. The effective tax rate for the three months ended March 29, 2025 differs from the U.S. statutory tax rate of 21% primarily due to non-deductible expenses, losses for which a tax benefit is not recognized, and U.S. tax on foreign earnings, partially offset by remeasurement of uncertain tax position reserves and tax credits.

For the three months ended March 30, 2024, the Company recognized income tax expense of $28.8 million, resulting in an effective tax rate of 59.6%. The effective tax rate for the three months ended March 30, 2024 differs from the U.S. statutory tax rate of 21% primarily due to non-deductible expenses, losses for which a tax benefit is not recognized, and U.S. tax on foreign earnings, partially offset by tax credits and state income taxes.
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.
v3.25.1
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS
 3 Months Ended
Mar. 29, 2025
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, 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 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 application across multiple verticals. The product lines 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.
(Millions of Dollars)Year-to-Date 2025
Tools & OutdoorEngineered FasteningTotal
Net Sales$3,280.9 $463.7 $3,744.6 
Cost of sales2,290.5333.4
Selling, general and administrative701.291.3
Segment Profit$289.2 $39.0 $328.2 
Corporate overhead(74.4)
Other, net(47.5)
Loss on sale of business(0.3)
Restructuring charges(1.2)
Interest income49.2 
Interest expense(126.4)
Earnings before income taxes$127.6 
(Millions of Dollars)Year-to-Date 2024
Tools & OutdoorEngineered FasteningTotal
Net Sales$3,284.6 $584.9 $3,869.5 
Cost of sales2,342.9418.9
Selling, general and administrative686.0100.8
Segment Profit$255.7 $65.2 $320.9 
Corporate overhead(64.2)
Other, net(80.0)
Asset impairment charge(25.5)
Restructuring charges(15.0)
Interest income43.6 
Interest expense(131.5)
Earnings before income taxes$48.3 
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 three months ended March 29, 2025 and March 30, 2024, 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 three months ended March 29, 2025 and March 30, 2024 was 2.4% and 2.9%, respectively.
The Engineered Fastening segment included the Infrastructure business prior to its sale in April 2024. The Infrastructure business had $92.6 million of sales for the three months ended March 30, 2024.
(Millions of Dollars)Year-to-Date
20252024
Capital and Software Expenditures
Tools & Outdoor$56.1 $56.1 
Engineered Fastening8.9 9.6 
Consolidated$65.0 $65.7 
Depreciation and Amortization
Tools & Outdoor$98.8 $107.0 
Engineered Fastening29.6 33.2 
Consolidated$128.4 $140.2 
(Millions of Dollars)March 29, 2025December 28, 2024
Segment Assets
Tools & Outdoor$18,670.5 $18,135.8 
Engineered Fastening3,960.7 3,962.9 
22,631.2 22,098.7 
Corporate assets(135.0)(249.8)
Consolidated$22,496.2 $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 the corporate-related cash accounts will be in a net liability position.

GEOGRAPHIC AREAS

The following table is a summary of net sales by geographic area for the three months ended March 29, 2025 and March 30, 2024:
Year-to-Date
(Millions of Dollars)20252024
United States$2,327.3 $2,357.3 
Canada198.1 215.9 
Other Americas179.2 209.5 
Europe752.0 788.7 
Asia288.0 298.1 
Consolidated$3,744.6 $3,869.5 
v3.25.1
CONTINGENCIES
 3 Months Ended
Mar. 29, 2025
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 Investigation

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 intends 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. The Company has reproduced the requested documents to the CPSC. The Company has not heard anything further from the CPSC or the DOJ in relation to this matter since then and therefore 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 of potential loss, if any, from this matter.
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. The Company is in the process, with the assistance of professional advisors, of reviewing and further enhancing relevant 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. 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 asserts 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 seeks 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 asserts the same claims and seeks the same forms of relief as the original complaint. The Company intends to vigorously defend this action in all respects and on December 14, 2023 filed a motion to dismiss the Amended Complaint in its entirety. Briefing on that motion concluded on April 5, 2024, and the Company awaits a decision on that motion. 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 March 29, 2025 and December 28, 2024, the Company had reserves of $273.3 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 March 29, 2025 amount, $51.5 million is classified as current within Accrued expenses and $221.8 million as long-term within Other liabilities which is expected to be paid over the estimated remediation period. As of March 29, 2025, the Company's net cash obligations, including the WCLC assets discussed below, is $256.0 million. As of March 29, 2025, the range of environmental remediation costs that is reasonably possible is $189.9 million to $405.8 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.
West Cost Loading Corporation
As of March 29, 2025, the Company has recorded $17.3 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 March 29, 2025, the Company's net cash obligation associated with these remediation activities, including WCLC assets, is $7.5 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 recently 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. 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. Post trial briefing and argument relating to the trial has been completed. A decision is expected in 2025 and additional litigation over the equitable allocation of the Centredale site investigation and cleanup cost could be required depending on the outcome. As of March 29, 2025, the Company has reserved $160.7 million for this site.
Lower Passaic River
The Company and approximately 47 other companies comprise the Lower Passaic Cooperating Parties Group (the “CPG”). The CPG members and other companies are parties to a May 2007 Administrative Settlement Agreement and Order on Consent (“AOC”) with the EPA to perform a remedial investigation/feasibility study (“RI/FS”) of the lower seventeen miles of the Lower Passaic River in New Jersey (the “River”). The Company’s potential liability stems from former operations in Newark, New Jersey. The CPG has substantially completed the RI/FS for the entire 17-mile River. The Company’s estimated costs related to the RI/FS are included in its environmental reserves.
Lower 8.3 Miles
On April 11, 2014, the EPA issued a Focused Feasibility Study (“FFS”) and proposed plan which addressed various early action remediation alternatives for the lower 8.3 miles of the River. 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 will include the removal of 3.5 million cubic yards of sediment, placement of a cap over the entire lower 8.3 miles of the River, and, according to the EPA, will cost approximately $1.4 billion and take 6 years to implement after the remedial design is completed. On September 30, 2016, Occidental Chemical Corporation ("OCC") entered into an agreement with the EPA to perform the remedial design for the cleanup plan for the lower 8.3 miles of the River. OCC has submitted the final remedial design, which was approved by EPA in May 2024. 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 the River. According to the complaint, OCC has incurred or is incurring costs which include the estimated cost ($165 million) to complete the remedial design for the cleanup plan for the lower 8.3 miles of the River. OCC also seeks 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 River. The Company and other defendants have answered the complaint and have been engaged in discovery with OCC. On February 24, 2021, the Company and other defendants filed a third party complaint against the Passaic Valley Sewerage Commissioners and forty-two municipalities to require those entities to pay their equitable share of response costs. On December 20, 2022, various defendants (including the Company) in the OCC litigation filed an unopposed motion to stay the litigation for six months which was granted by the Court on March 1, 2023 and has been extended while the Court considered the Consent Decree filed by the United States, as discussed below.
The Company and 105 other parties received a letter dated March 31, 2016 from the EPA notifying such parties of potential liability for the costs of the cleanup of the lower 8.3 miles of the River. In a March 30, 2017 letter, the EPA stated that parties who did not discharge dioxins, furans or polychlorinated biphenyls (which are considered the contaminants of concern posing the greatest risk to human health or the environment) may be eligible for cash out settlement, but expected those parties' allocation to be determined through a complex settlement analysis using a third-party allocator. The EPA subsequently clarified this statement to say that such parties would be eligible to be "funding parties" for the lower 8.3 mile remedial action with each party's share of the costs determined by the EPA based on the allocation process and the remaining parties would be "work parties" for the remedial action. The Company participated in the allocation process and asserted that it did not discharge dioxins, furans or polychlorinated biphenyls and should be eligible to be a "funding party" for the lower 8.3 mile remedial action. The allocator selected by the EPA issued a confidential allocation report on December 28, 2020, which was reviewed by the EPA. As a result of the allocation process, on February 11, 2022, the EPA and certain parties (including the Company)
reached an agreement in principle for a cash-out settlement for remediation of the entire 17-mile Lower Passaic River. 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 based in part on the EPA-sponsored allocation report that found OCC 99.4% responsible for the cleanup costs of the River. The Consent Decree was subject to a 90-day public comment period, which ended March 22, 2023. On November 21, 2023, the United States informed the Court that it concluded, based on the public comments, that a small number of parties (not including the Company) should be removed from the settlement and that a change should be made to the United States’ reservation of rights (which was agreed to by the remaining settling parties). On January 17, 2024, the United States filed the modified Consent Decree with the Court and filed its motion to enter the modified Consent Decree on January 31, 2024. On April 1, 2024, the settling defendants (including the Company) and certain other parties filed briefs in support of, and OCC filed a brief in opposition to, the motion to enter the modified Consent Decree. On December 18, 2024, the Court issued its opinion granting the United States’ motion to enter the modified Consent Decree. The settlement funds will be paid to the United States as of the later of the expiration of the appeal deadline (sixty days after the entry) if no appeal is filed or the exhaustion of any appeals. On January 9, 2025, Nokia of America (a non-settling party) filed its Notice of Appeal of the Court’s decision to the U.S. Court of Appeals for the Third Circuit. On February 13, 2025, OCC also filed its Notice of Appeal of the Court's decision to the U.S. Court of Appeals for the Third Circuit.
Upper 9 Miles
On October 10, 2018, the EPA issued a letter directing the CPG to prepare a streamlined feasibility study for the upper 9 miles of the River based on an iterative approach using adaptive management strategies. The CPG submitted a draft Interim Remedy Feasibility Study to the EPA on December 4, 2020, which identified various targeted dredge and cap alternatives with costs that range from $420 million to $468 million (net present value). The EPA issued the Interim Remedy ROD on September 28, 2021, selecting an alternative that the EPA estimates will cost $441 million (net present value).
On March 2, 2023, the EPA issued a Unilateral Administrative Order requiring OCC to design the interim remedy for the upper 9 miles of the River (the “2023 UAO”). Notwithstanding the stay of the litigation commenced in 2018 (and two days after the public comment period on the Consent Decree closed), OCC filed a complaint named Occidental Chem. Corp. v. Givaudan Fragrances Corp., et al., No. 2:23‑cv-1699 at 2, 5 (D.N.J. Mar. 24, 2023) (the “2023 Litigation”) against forty parties (not including the Company) for recovery of past and future response costs it will incur in complying with the 2023 UAO. All of the defendants named in the 2023 Litigation are also defendants or third-party defendants in the litigation commenced in 2018.
Maxus Bankruptcy Settlement
Pursuant to a settlement agreement by and among the Maxus Liquidating Trust, YPF and Repsol submitted to the bankruptcy court on April 7, 2023, YPF and Repsol will jointly pay a combined sum of $573 million to various creditors. Based on the waterfall payout of the bankruptcy plan, the CPG received approximately $9 million, which will be used either to offset future CPG costs, including EPA RI/FS oversight and legal and administrative costs, or to reimburse CPG members for a portion of their past contributions to the RI/FS costs.
At this time, the Company cannot reasonably estimate its liability related to the litigation and remediation efforts as discussed above, excluding the RI/FS, as the OCC litigation is pending and Court’s opinion granting the United States’ motion to enter the Consent Decree has been appealed.
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 March 29, 2025, the Company has reserved $24.5 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.
v3.25.1
COMMITMENTS AND GUARANTEES
 3 Months Ended
Mar. 29, 2025
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. The following is a summary of the Company's right-of-use assets and lease liabilities:

(Millions of Dollars)March 29, 2025December 28, 2024
Right-of-use assets$459.1$473.4
Lease liabilities$474.7$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 Condensed 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.

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 Condensed Consolidated Balance Sheets and totaled $461.3 million and $483.6 million as of March 29, 2025 and December 28, 2024, respectively.

As of March 29, 2025, 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. As of March 29, 2025, the Company had unconditional purchase obligations of $227.4 million, consisting of $96.1 million in 2025, $59.9 million in 2026 and $71.4 million in 2027.


GUARANTEES — The Company’s financial guarantees at March 29, 2025 are as follows:
(Millions of Dollars)TermMaximum
Potential
Payment		Carrying
Amount of
Liability
Guarantees on the residual values of leased assets
Three years to nine years
$78.2 $— 
Standby letters of credit
Up to twenty years
178.4 — 
Commercial customer financing arrangements
Up to ten years
97.0 17.0 
Total$353.6 $17.0 
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 $78.2 million while the fair value of the underlying assets is estimated at $119.3 million. The related assets would be available to satisfy the guarantee obligations.

The Company has issued $178.4 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 O, Contingencies.

The Company provides various limited and full recourse guarantees to financial institutions that provide financing to U.S. and Canadian Mac Tool 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 Tool distributors and franchisees. The gross amount guaranteed in these arrangements is $97.0 million and the $17.0 million carrying value of the guarantees issued is recorded in Other liabilities in the Condensed 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 three months ended March 29, 2025 and March 30, 2024 are as follows: 
(Millions of Dollars)20252024
Balance beginning of period$140.1 $136.7 
Warranties and guarantees issued39.5 46.6 
Warranty payments and currency(34.5)(39.9)
Balance end of period$145.1 $143.4 
v3.25.1
DIVESTITURES
 3 Months Ended
Mar. 29, 2025
Discontinued Operations and Disposal Groups [Abstract]  
DIVESTITURES DIVESTITURES
Infrastructure business

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 and Comprehensive Income (Loss) through the date of sale. The pre-tax income for this business was $9.6 million for the three months ended March 30, 2024.

In addition, the Company recognized a pre-tax asset impairment charge of $25.5 million and $150.8 million in the first quarter of 2024 and fourth quarter of 2023, respectively, to adjust the carrying amount of the long-lived assets of the Infrastructure business to its estimated fair value less the costs to sell.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Pay vs Performance Disclosure    
Net earnings $ 90.4 $ 19.5
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 29, 2025
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
v3.25.1
SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (hereinafter referred to as “generally accepted accounting principles”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations for the interim periods have been included and are of a normal, recurring nature.
Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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.
Reclassifications Certain amounts reported in previous years have been reclassified to conform to the 2025 presentation.
Recently Issued Accounting Standards Not Yet Adopted
RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET 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 is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements.
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.
v3.25.1
EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 29, 2025
Earnings Per Share [Abstract]  
Schedule of Net Earnings and Weighted-Average Shares Outstanding
The following table reconciles net earnings and the weighted-average shares outstanding used to calculate basic and diluted earnings per share of common stock for the three months ended March 29, 2025 and March 30, 2024:
Year-to-Date
20252024
Numerator (in millions):
Net Earnings$90.4 $19.5 
Denominator (in thousands):
Basic weighted-average shares outstanding151,028 150,235 
Dilutive effect of stock contracts and awards671 706 
Diluted weighted-average shares outstanding151,699 150,941 
Earnings per share of common stock:
Basic$0.60 $0.13 
Diluted$0.60 $0.13 
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):
Year-to-Date
20252024
Number of stock options5,753 4,995 
v3.25.1
ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)
 3 Months Ended
Mar. 29, 2025
Receivables [Abstract]  
Schedule of Accounts and Notes Receivable
(Millions of Dollars)March 29, 2025December 28, 2024
Trade accounts receivable$1,358.9 $950.4 
Notes receivable82.5 65.9 
Other accounts receivable215.7 222.1 
Accounts and notes receivable$1,657.1 $1,238.4 
Allowance for credit losses(91.1)(84.7)
Accounts and notes receivable, net$1,566.0 $1,153.7 
Schedule of Changes in Allowance for Credit Losses
The changes in the allowance for credit losses for the three months ended March 29, 2025 and March 30, 2024 are as follows:
Year-to-Date
(Millions of Dollars)20252024
Beginning balance$84.7 $76.6 
Charged to costs and expenses14.5(0.2)
Other, including recoveries and deductions (a)(8.1)(1.5)
Balance end of period$91.1 $74.9 
(a) Amounts represent charge-offs less recoveries, the impacts of foreign currency translation, divestitures and net transfers to/from other accounts.
v3.25.1
INVENTORIES, NET (Tables)
 3 Months Ended
Mar. 29, 2025
Inventory Disclosure [Abstract]  
Schedule of Components of Inventories
(Millions of Dollars)March 29, 2025December 28, 2024
Finished products$3,082.2 $2,943.5 
Work in process383.3 346.3 
Raw materials1,241.6 1,246.6 
Total$4,707.1 $4,536.4 
v3.25.1
GOODWILL (Tables)
 3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill by Segment
Changes in the carrying amount of goodwill by segment are as follows:
(Millions of Dollars)Tools & Outdoor
Engineered Fastening
Total
Balance December 28, 2024$5,909.2 $1,996.3 $7,905.5 
Foreign currency translation & other44.3 1.0 45.3 
Balance March 29, 2025$5,953.5 $1,997.3 $7,950.8 
v3.25.1
LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt and Financing Arrangements
March 29, 2025December 28, 2024
(Millions of Dollars)Interest RateNotional Value
Carrying Value1
Carrying Value
Notes payable due 20252.30%$— $— $499.9 
Notes payable due 20263.40%500.0 499.5 499.4 
Notes payable due 20266.27%350.0 349.4 349.3 
Notes payable due 20263.42%25.0 25.6 25.7 
Notes payable due 20261.84%27.0 27.5 26.7 
Notes payable due 20286.00%400.0 398.3 398.0 
Notes payable due 20287.05%150.0 156.9 157.5 
Notes payable due 20284.25%500.0 498.3 498.3 
Notes payable due 20283.52%50.0 52.3 52.4 
Notes payable due 20302.30%750.0 746.2 746.2 
Notes payable due 20323.00%500.0 496.9 496.6 
Notes payable due 20405.20%400.0 375.1 374.5 
Notes payable due 20484.85%500.0 495.2 495.2 
Notes payable due 20502.75%750.0 741.1 741.0 
Notes payable due 2060 (junior subordinated)2
6.71%750.0 741.7 741.6 
Other, payable in varying amounts 2025 through 2026
4.23%-4.31%
0.6 0.6 0.7 
Total Long-term debt, including current maturities$5,652.6 $5,604.6 $6,103.0 
Less: Current maturities of long-term debt(849.4)(500.4)
Long-term debt$4,755.2 $5,602.6 
1Carrying values are net of unamortized discounts of $(4.7) million, deferred issuance costs of $(31.0) million, unamortized terminated swaps of $(19.2) million, and purchase accounting fair value adjustments of $6.9 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.
v3.25.1
FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 29, 2025
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 Condensed Consolidated Balance Sheets at March 29, 2025 and December 28, 2024 is as follows: 
(Millions of Dollars)Balance Sheet
Classification		March 29, 2025December 28, 2024Balance Sheet
Classification		March 29, 2025December 28, 2024
Derivatives designated as hedging instruments:
Foreign Exchange Contracts Cash FlowOther current assets$10.6 $23.7 Accrued expenses$3.4 $0.9 
LT other assets0.2 — LT other liabilities— — 
Net Investment HedgeOther current assets1.5 — Accrued expenses0.5 — 
Non-derivative designated as hedging instrument:
Net Investment Hedge$— $— Short-term borrowings$215.7 $— 
Total designated as hedging instruments$12.3 $23.7 $219.6 $0.9 
Derivatives not designated as hedging instruments:
Foreign Exchange ContractsOther current assets$3.8 $8.9 Accrued expenses$12.1 $10.9 
Total$16.1 $32.6 $231.7 $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 the three months ended March 29, 2025 and March 30, 2024:

Year-to-Date 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$— Interest expense$(1.7)$— 
Foreign Exchange Contracts$(10.3)Cost of sales$3.6 $— 
Year-to-Date 2024
(Millions of Dollars)Gain (Loss)
Recorded in OCI		Classification of
Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Reclassified from
OCI to Income		Gain (Loss)
Recognized in
Income on Amounts Excluded from Effectiveness Testing
Interest Rate Contracts$— Interest expense$(1.5)$— 
Foreign Exchange Contracts$7.0 Cost of sales$1.7 $— 

A summary of the pre-tax effect of cash flow hedge accounting on the Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 29, 2025 and March 30, 2024 is as follows:
Year-to-Date 2025
(Millions of Dollars)Cost of SalesInterest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the cash flow hedges are recorded$2,623.8 $126.4 
Gain (loss) on cash flow hedging relationships:
Foreign Exchange Contracts:
Hedged Items$(3.6)$— 
Gain (loss) reclassified from OCI into Income$3.6 $— 
Interest Rate Swap Agreements:
Gain (loss) reclassified from OCI into Income 1
$— $(1.7)
Year-to-Date 2024
(Millions of Dollars)Cost of SalesInterest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the cash flow hedges are recorded$2,761.0 $131.5 
Gain (loss) on cash flow hedging relationships:
Foreign Exchange Contracts:
Hedged Items$(1.7)$— 
Gain (loss) reclassified from OCI into Income$1.7 $— 
Interest Rate Swap Agreements:
Gain (loss) reclassified from OCI into Income 1
$— $(1.5)
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 and Comprehensive Income (Loss) for the three months ended March 29, 2025 and March 30, 2024 is as follows:
(Millions of Dollars)Year-to-Date 2025
Interest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the fair value hedges are recorded$126.4 
Amortization of gain on terminated swaps$(0.1)
(Millions of Dollars)Year-to-Date 2024
Interest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the fair value hedges are recorded$131.5 
Amortization of gain on terminated swaps$(0.1)

A summary of the amounts recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of March 29, 2025 and December 28, 2024 is as follows:
March 29, 2025
(Millions of Dollars)
Carrying Amount of Hedged Liability (1)
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability
Current Maturities of Long-Term Debt$849.4 Terminated Swaps$— 
Long-Term Debt$532.0 Terminated Swaps$(19.2)
December 28, 2024
(Millions of Dollars)
Carrying Amount of Hedged Liability (1)
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)
(1) Represents 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 for the three months ended March 29, 2025 and March 30, 2024 is as follows:

Year-to-Date 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$0.3 $— Other, net$— $— 
Cross Currency Swap$1.0 $— Other, net$— $— 
Non-derivative designated as Net Investment Hedge$1.3 $— Other, net$— $— 
Year-to-Date 2024
(Millions of Dollars)Total Gain (Loss) Recorded in OCIExcluded Component Recorded in OCIIncome Statement ClassificationTotal Gain (Loss) Reclassified from OCI to IncomeExcluded Component Amortized from OCI to Income
Forward Contracts$(0.2)$— Other, net$— $— 
Non-derivative designated as Net Investment Hedge$8.8 $— Other, net$— $— 
Schedule of Loss from Changes in Fair Value Related to Derivatives Not Designated as Hedging Instruments The loss recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss) from changes in the fair value related to derivatives not designated as hedging instruments under ASC 815 for the three months ended March 29, 2025 and March 30, 2024 is as follows: 
(Millions of Dollars)Income Statement ClassificationYear-to-Date
 2025		Year-to-Date
 2024
Foreign Exchange ContractsOther, net$(8.0)$(13.9)
v3.25.1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 3 Months Ended
Mar. 29, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Changes in Balances to Components of Accumulated Other Comprehensive Loss
The following tables summarize the changes in the balances for each component of Accumulated other comprehensive loss:
(Millions of Dollars)Currency translation adjustment and otherLosses on cash flow hedges, net of taxGains on net investment hedges, net of taxPension (losses) gains, net of taxTotal
Balance - December 28, 2024$(2,170.2)$(16.7)$78.4 $(212.4)$(2,320.9)
Other comprehensive income (loss) before reclassifications136.5 (8.1)2.0 (2.7)127.7 
Reclassification adjustments to earnings— (0.9)— 1.6 0.7 
Net other comprehensive income (loss)136.5 (9.0)2.0 (1.1)128.4 
Balance - March 29, 2025$(2,033.7)$(25.7)$80.4 $(213.5)$(2,192.5)
(Millions of Dollars)Currency translation adjustment and other(Losses) gains on cash flow hedges, net of taxGains on net investment hedges, net of taxPension (losses) gains, 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(130.8)5.1 6.5 1.0 (118.2)
Reclassification adjustments to earnings— (0.1)— 2.1 2.0 
Net other comprehensive (loss) income(130.8)5.0 6.5 3.1 (116.2)
Balance - March 30, 2024$(1,963.1)$(37.5)$71.4 $(256.1)$(2,185.3)
Schedule of Reclassifications out of Accumulated Other Comprehensive Loss The reclassifications out of Accumulated other comprehensive loss for the three months ended March 29, 2025 and March 30, 2024 were as follows:
(Millions of Dollars)20252024Affected line item in Consolidated Statements of Operations And Comprehensive Income (Loss)
Realized gains on cash flow hedges$3.6 $1.7 Cost of sales
Realized losses on cash flow hedges(1.7)(1.5)Interest expense
Total before taxes$1.9 $0.2 
Tax effect(1.0)(0.1)Income taxes
Realized gains on cash flow hedges, net of tax$0.9 $0.1 
Amortization of defined benefit pension items:
Actuarial losses and prior service costs / credits$(2.1)$(2.8)Other, net
Tax effect0.5 0.7 Income taxes
Amortization of defined benefit pension items, net of tax$(1.6)$(2.1)
v3.25.1
NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS (Tables)
 3 Months Ended
Mar. 29, 2025
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Pension Expense
Following are the components of net periodic pension expense for the three months ended March 29, 2025 and March 30, 2024:
 Year-to-Date
Pension BenefitsOther Benefits
U.S. PlansNon-U.S. PlansAll Plans
(Millions of Dollars)202520242025202420252024
Service cost$1.9 $1.6 $2.8 $3.1 $0.1 $0.1 
Interest cost12.5 12.9 10.1 10.4 0.3 0.4 
Expected return on plan assets(14.8)(15.2)(11.7)(10.9)— — 
Amortization of prior service cost (credit)0.1 0.2 (0.2)(0.2)— — 
Amortization of net loss (gain)2.0 2.0 0.6 1.1 (0.4)(0.3)
Net periodic pension expense$1.7 $1.5 $1.6 $3.5 $— $0.2 
v3.25.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 29, 2025
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
March 29, 2025
Money market fund$16.2 $16.2 $— $— 
Deferred compensation plan investments$14.4 $14.4 $— $— 
Derivative assets$16.1 $— $16.1 $— 
Derivative liabilities$16.0 $— $16.0 $— 
Non-derivative hedging instrument$215.7 $— $215.7 $— 
Contingent consideration liability$161.5 $— $— $161.5 
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:
 March 29, 2025December 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$5,604.6 $5,099.5 $6,103.0 $5,548.8 
v3.25.1
RESTRUCTURING CHARGES AND OTHER, NET (Tables)
 3 Months Ended
Mar. 29, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Reserve Activity
A summary of the restructuring reserve activity from December 28, 2024 to March 29, 2025 is as follows: 
(Millions of Dollars)December 28,
2024		Net AdditionsUsageCurrencyMarch 29,
2025
Severance and related costs$25.3 $6.7 $(6.2)$(0.4)$25.4 
Facility closures and other20.1 (5.5)(5.1)— 9.5 
Total$45.4 $1.2 $(11.3)$(0.4)$34.9 
v3.25.1
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS (Tables)
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Schedule of Net Sales and Segment Profit
(Millions of Dollars)Year-to-Date 2025
Tools & OutdoorEngineered FasteningTotal
Net Sales$3,280.9 $463.7 $3,744.6 
Cost of sales2,290.5333.4
Selling, general and administrative701.291.3
Segment Profit$289.2 $39.0 $328.2 
Corporate overhead(74.4)
Other, net(47.5)
Loss on sale of business(0.3)
Restructuring charges(1.2)
Interest income49.2 
Interest expense(126.4)
Earnings before income taxes$127.6 
(Millions of Dollars)Year-to-Date 2024
Tools & OutdoorEngineered FasteningTotal
Net Sales$3,284.6 $584.9 $3,869.5 
Cost of sales2,342.9418.9
Selling, general and administrative686.0100.8
Segment Profit$255.7 $65.2 $320.9 
Corporate overhead(64.2)
Other, net(80.0)
Asset impairment charge(25.5)
Restructuring charges(15.0)
Interest income43.6 
Interest expense(131.5)
Earnings before income taxes$48.3 
(Millions of Dollars)Year-to-Date
20252024
Capital and Software Expenditures
Tools & Outdoor$56.1 $56.1 
Engineered Fastening8.9 9.6 
Consolidated$65.0 $65.7 
Depreciation and Amortization
Tools & Outdoor$98.8 $107.0 
Engineered Fastening29.6 33.2 
Consolidated$128.4 $140.2 
(Millions of Dollars)March 29, 2025December 28, 2024
Segment Assets
Tools & Outdoor$18,670.5 $18,135.8 
Engineered Fastening3,960.7 3,962.9 
22,631.2 22,098.7 
Corporate assets(135.0)(249.8)
Consolidated$22,496.2 $21,848.9 
Schedule of Net Sales by Geographic Area
The following table is a summary of net sales by geographic area for the three months ended March 29, 2025 and March 30, 2024:
Year-to-Date
(Millions of Dollars)20252024
United States$2,327.3 $2,357.3 
Canada198.1 215.9 
Other Americas179.2 209.5 
Europe752.0 788.7 
Asia288.0 298.1 
Consolidated$3,744.6 $3,869.5 
v3.25.1
COMMITMENTS AND GUARANTEES (Tables)
 3 Months Ended
Mar. 29, 2025
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)March 29, 2025December 28, 2024
Right-of-use assets$459.1$473.4
Lease liabilities$474.7$491.8
Weighted-average incremental borrowing rate
4.7%4.7%
Weighted-average remaining term
6 years6 years
Schedule of Financial Guarantees The Company’s financial guarantees at March 29, 2025 are as follows:
(Millions of Dollars)TermMaximum
Potential
Payment		Carrying
Amount of
Liability
Guarantees on the residual values of leased assets
Three years to nine years
$78.2 $— 
Standby letters of credit
Up to twenty years
178.4 — 
Commercial customer financing arrangements
Up to ten years
97.0 17.0 
Total$353.6 $17.0 
Schedule of Changes in Carrying Amount of Product Warranties
The changes in the carrying amount of product warranties for the three months ended March 29, 2025 and March 30, 2024 are as follows: 
(Millions of Dollars)20252024
Balance beginning of period$140.1 $136.7 
Warranties and guarantees issued39.5 46.6 
Warranty payments and currency(34.5)(39.9)
Balance end of period$145.1 $143.4 
v3.25.1
EARNINGS PER SHARE - Schedule of Net Earnings and Weighted-Average Shares Outstanding (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Numerator (in millions):    
Net Earnings $ 90.4 $ 19.5
Denominator (in thousands):    
Basic weighted-average shares outstanding (in shares) 151,028 150,235
Dilutive effect of stock contracts and awards (in shares) 671 706
Diluted weighted-average shares outstanding (in shares) 151,699 150,941
Earnings per share of common stock:    
Basic (in dollars per share) $ 0.60 $ 0.13
Diluted (in dollars per share) $ 0.60 $ 0.13
v3.25.1
EARNINGS PER SHARE - Schedule of Weighted-Average Stock Options Not Included in Computation of Weighted-Average Diluted Shares Outstanding (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Stock Options    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Number of stock options (in shares) 5,753 4,995
v3.25.1
EARNINGS PER SHARE - Additional Information (Details)
$ in Millions
 1 Months Ended
Mar. 31, 2015
USD ($)
shares
Earnings Per Share [Abstract]  
Forward share purchase contract (in shares) | shares 3,645,510
Forward share purchase contract | $ $ 350.0
v3.25.1
ACCOUNTS AND NOTES RECEIVABLE, NET - Schedule of Accounts and Notes Receivable (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Receivables [Abstract]    
Trade accounts receivable $ 1,358.9 $ 950.4
Notes receivable 82.5 65.9
Other accounts receivable 215.7 222.1
Accounts and notes receivable 1,657.1 1,238.4
Allowance for credit losses (91.1) (84.7)
Accounts and notes receivable, net $ 1,566.0 $ 1,153.7
v3.25.1
ACCOUNTS AND NOTES RECEIVABLE, NET - Schedule of Changes in Allowance for Credit Losses (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 84.7 $ 76.6
Charged to costs and expenses 14.5 (0.2)
Other, including recoveries and deductions (8.1) (1.5)
Balance end of period $ 91.1 $ 74.9
v3.25.1
ACCOUNTS AND NOTES RECEIVABLE, NET - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 28, 2024
Receivables [Abstract]      
Maximum cash investment in receivables $ 110.0    
Net receivables derecognized 60.9   $ 95.1
Proceeds from transfers of receivables to the purchaser 50.0 $ 59.6  
Payment to the purchaser 84.2 105.2  
Pretax loss on sale 0.8 1.2  
Deferred revenue 99.8   101.6
Deferred revenue, current 31.3   $ 31.3
Deferred revenue recognized $ 6.4 $ 5.9  
v3.25.1
INVENTORIES, NET (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Inventory Disclosure [Abstract]    
Finished products $ 3,082.2 $ 2,943.5
Work in process 383.3 346.3
Raw materials 1,241.6 1,246.6
Total $ 4,707.1 $ 4,536.4
v3.25.1
GOODWILL (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Goodwill [Roll Forward]  
Goodwill, beginning balance $ 7,905.5
Foreign currency translation & other 45.3
Goodwill, ending balance 7,950.8
Tools & Outdoor  
Goodwill [Roll Forward]  
Goodwill, beginning balance 5,909.2
Foreign currency translation & other 44.3
Goodwill, ending balance 5,953.5
Engineered Fastening  
Goodwill [Roll Forward]  
Goodwill, beginning balance 1,996.3
Foreign currency translation & other 1.0
Goodwill, ending balance $ 1,997.3
v3.25.1
LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Schedule of Long-Term Debt and Financing Arrangements (Details) - USD ($)
 3 Months Ended
Mar. 29, 2025
Dec. 28, 2024
Debt Instrument [Line Items]    
Notional Value $ 5,652,600,000  
Carrying Value 5,604,600,000 $ 6,103,000,000
Less: Current maturities of long-term debt (849,400,000) (500,400,000)
Long-term debt 4,755,200,000 5,602,600,000
Unamortized debt discount 4,700,000  
Debt issuance costs 31,000,000  
Fair value adjustment and unamortized termination of swap (19,200,000)  
Purchase accounting fair value adjustments $ 6,900,000  
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 $ 499,500,000 499,400,000
Notes payable due 2026    
Debt Instrument [Line Items]    
Interest Rate 6.27%  
Notional Value $ 350,000,000.0  
Carrying Value $ 349,400,000 349,300,000
Notes payable due 2026    
Debt Instrument [Line Items]    
Interest Rate 3.42%  
Notional Value $ 25,000,000.0  
Carrying Value $ 25,600,000 25,700,000
Notes payable due 2026    
Debt Instrument [Line Items]    
Interest Rate 1.84%  
Notional Value $ 27,000,000.0  
Carrying Value $ 27,500,000 26,700,000
Notes payable due 2028    
Debt Instrument [Line Items]    
Interest Rate 6.00%  
Notional Value $ 400,000,000.0  
Carrying Value $ 398,300,000 398,000,000.0
Notes payable due 2028    
Debt Instrument [Line Items]    
Interest Rate 7.05%  
Notional Value $ 150,000,000.0  
Carrying Value $ 156,900,000 157,500,000
Notes payable due 2028    
Debt Instrument [Line Items]    
Interest Rate 4.25%  
Notional Value $ 500,000,000.0  
Carrying Value $ 498,300,000 498,300,000
Notes payable due 2028    
Debt Instrument [Line Items]    
Interest Rate 3.52%  
Notional Value $ 50,000,000.0  
Carrying Value $ 52,300,000 52,400,000
Notes payable due 2030    
Debt Instrument [Line Items]    
Interest Rate 2.30%  
Notional Value $ 750,000,000.0  
Carrying Value $ 746,200,000 746,200,000
Notes payable due 2032    
Debt Instrument [Line Items]    
Interest Rate 3.00%  
Notional Value $ 500,000,000.0  
Carrying Value $ 496,900,000 496,600,000
Notes payable due 2040    
Debt Instrument [Line Items]    
Interest Rate 5.20%  
Notional Value $ 400,000,000.0  
Carrying Value $ 375,100,000 374,500,000
Notes payable due 2048    
Debt Instrument [Line Items]    
Interest Rate 4.85%  
Notional Value $ 500,000,000.0  
Carrying Value $ 495,200,000 495,200,000
Notes payable due 2050    
Debt Instrument [Line Items]    
Interest Rate 2.75%  
Notional Value $ 750,000,000.0  
Carrying Value $ 741,100,000 741,000,000.0
Notes payable due 2060 (junior subordinated) | Junior Subordinated Debt    
Debt Instrument [Line Items]    
Interest Rate 6.71%  
Notional Value $ 750,000,000.0  
Carrying Value 741,700,000 741,600,000
Other, payable in varying amounts 2025 through 2026    
Debt Instrument [Line Items]    
Notional Value 600,000  
Carrying Value $ 600,000 $ 700,000
Other, payable in varying amounts 2025 through 2026 | Minimum    
Debt Instrument [Line Items]    
Interest Rate 4.23%  
Other, payable in varying amounts 2025 through 2026 | Maximum    
Debt Instrument [Line Items]    
Interest Rate 4.31%  
Notes 4 Point 0 Percent Due in 2060 | Junior Subordinated Debt    
Debt Instrument [Line Items]    
Interest Rate   4.00%
v3.25.1
LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Additional Information (Details)
 3 Months Ended
Mar. 29, 2025
USD ($)
Dec. 28, 2024
USD ($)
Jun. 30, 2024
USD ($)
Jun. 29, 2024
USD ($)
Debt Instrument [Line Items]        
Maximum borrowing capacity     $ 3,500,000,000  
Commercial paper amount outstanding $ 1,100,000,000 $ 0    
Debt instrument, covenant, leverage ratio, minimum 3.50      
Adjustment addback amount $ 500,000,000      
Four Quarter Period Through Q2 2024        
Debt Instrument [Line Items]        
Debt instrument, covenant, leverage ratio, minimum 1.50      
Debt instrument, minimum interest coverage ratio 2.50      
Adjustment addback amount $ 500,000,000      
Four Quarter Period Through Q2 2025        
Debt Instrument [Line Items]        
Adjustment addback amount $ 250,000,000      
5 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  
2023 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     1,500,000,000  
2024 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  
Line of credit drawn 0 $ 0    
Line of credit facility, maximum borrowing capacity     $ 1,250,000,000  
Designated as Hedging Instrument        
Debt Instrument [Line Items]        
Commercial paper amount outstanding 215,700,000      
Commercial Paper        
Debt Instrument [Line Items]        
Maximum borrowing capacity $ 3,500,000,000      
v3.25.1
FINANCIAL INSTRUMENTS - Schedule of Fair Value of Company’s Derivatives (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Derivatives, Fair Value [Line Items]    
Derivative assets $ 16.1 $ 32.6
Derivative liabilities 231.7 11.8
Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 12.3 23.7
Derivative liabilities 219.6 0.9
Other current assets | Net Investment Hedge | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 1.5 0.0
Other current assets | Foreign Exchange Contracts | Derivatives not designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 3.8 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 10.6 23.7
Accrued expenses | Net Investment Hedge | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative liabilities 0.5 0.0
Accrued expenses | Foreign Exchange Contracts | Derivatives not designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative liabilities 12.1 10.9
Accrued expenses | Foreign Exchange Contracts | Foreign Exchange Contracts Cash Flow | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative liabilities 3.4 0.9
LT other assets | Foreign Exchange Contracts | Foreign Exchange Contracts Cash Flow | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 0.2 0.0
LT other liabilities | Foreign Exchange Contracts | Foreign Exchange Contracts Cash Flow | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative liabilities 0.0 0.0
Short-term borrowings | Net Investment Hedge | Derivatives designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Derivative assets 0.0 0.0
Derivative liabilities $ 215.7 $ 0.0
v3.25.1
FINANCIAL INSTRUMENTS - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 28, 2024
Apr. 30, 2025
Derivative Instruments, Gain (Loss) [Line Items]        
Cash (received) paid related to derivatives $ (1.3) $ 15.4    
Gain reclassified from accumulated other comprehensive loss into earnings 0.9 0.1    
Foreign Exchange Contracts        
Derivative Instruments, Gain (Loss) [Line Items]        
Accumulated other comprehensive gains 80.4   $ 78.4  
Not Designated as Hedging Instrument | Forward Contracts        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount 1,300.0   1,300.0  
Foreign Exchange Contracts Cash Flow        
Derivative Instruments, Gain (Loss) [Line Items]        
After-tax mark-to-market losses 25.7   16.7  
After tax gain to be reclassified to earnings 3.2      
Foreign Exchange Contracts Cash Flow | Foreign Exchange Forward        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount 654.9   537.8  
Foreign Exchange Contracts Cash Flow | Foreign Exchange Forward | Subsequent Event        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount       $ 341.0
Net Investment Hedge        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount 215.7   0.0  
Net Investment Hedge | Foreign Exchange Contracts        
Derivative Instruments, Gain (Loss) [Line Items]        
Cash (received) paid related to derivatives 0.0 $ 0.0    
Net Investment Hedge | Cross Currency Interest Rate Contract        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative notional amount $ 220.0   $ 0.0  
v3.25.1
FINANCIAL INSTRUMENTS - Schedule of Detail Pre-Tax Amounts of Derivatives Designated in Accumulated Other Comprehensive Loss into Earnings (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Interest Rate Contracts | Foreign Exchange Contracts Cash Flow | Interest expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recorded in OCI $ 0.0 $ 0.0
Gain (Loss) Reclassified from OCI to Income (1.7) (1.5)
Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing 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 3.6 1.7
Foreign Exchange Contracts | Foreign Exchange Contracts Cash Flow | Cost of sales    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recorded in OCI (10.3) 7.0
Gain (Loss) Reclassified from OCI to Income 3.6 1.7
Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing $ 0.0 $ 0.0
v3.25.1
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
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Derivative [Line Items]    
Cost of sales $ 2,623.8 $ 2,761.0
Interest expense 126.4 131.5
Foreign Exchange Contracts | Cost of Sales    
Derivative [Line Items]    
Hedged Items (3.6) (1.7)
Gain (loss) reclassified from OCI into Income 3.6 1.7
Foreign Exchange Contracts | Interest Expense    
Derivative [Line Items]    
Hedged Items 0.0 0.0
Gain (loss) reclassified from OCI into Income 0.0 0.0
Interest Rate Swap Agreements: | Cost of Sales    
Derivative [Line Items]    
Gain (loss) reclassified from OCI into Income 0.0 0.0
Interest Rate Swap Agreements: | Interest Expense    
Derivative [Line Items]    
Gain (loss) reclassified from OCI into Income $ (1.7) $ (1.5)
v3.25.1
FINANCIAL INSTRUMENTS - Schedule of Pre-Tax Effect from Fair Value Change (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the fair value hedges are recorded $ 126.4 $ 131.5
Fair Value Hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
Amortization of gain on terminated swaps $ (0.1) $ (0.1)
v3.25.1
FINANCIAL INSTRUMENTS - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Current Maturities of Long-Term Debt $ 849.4 $ 500.4
Long-Term Debt 532.0 532.0
Other Current Liabilities | Fair Value Hedging | Designated as Hedging Instrument    
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 Hedging | Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability $ (19.2) $ (19.3)
v3.25.1
FINANCIAL INSTRUMENTS - Schedule of Pre-Tax Gain or Loss from Fair Value Change (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Non-derivative designated as Net Investment Hedge, Total Gain (Loss) Recorded in OCI $ 1.3 $ 8.8
Non-derivative designated as Net Investment Hedge, Excluded Component Recorded in OCI 0.0 0.0
Non-derivative designated as Net Investment Hedge, Excluded Component Amortized from OCI to Income 0.0 0.0
Other, net    
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
Forward Contracts    
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Total Gain (Loss) Recorded in OCI 0.3 (0.2)
Excluded Component Recorded in OCI 0.0 0.0
Excluded Component Amortized from OCI to Income 0.0 0.0
Forward Contracts | Other, net    
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Total Gain (Loss) Reclassified from OCI to Income 0.0 $ 0.0
Cross Currency Swap    
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Total Gain (Loss) Recorded in OCI 1.0  
Excluded Component Recorded in OCI 0.0  
Excluded Component Amortized from OCI to Income 0.0  
Cross Currency Swap | Other, net    
Derivative Instruments and Hedging Activities Disclosure [Line Items]    
Total Gain (Loss) Reclassified from OCI to Income $ 0.0  
v3.25.1
FINANCIAL INSTRUMENTS - Schedule of Loss from Changes in Fair Value Related to Derivatives Not Designated as Hedging Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Foreign Exchange Contracts | Other, net    
Derivative [Line Items]    
Undesignated hedges $ (8.0) $ (13.9)
v3.25.1
ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Changes in Balances to Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance $ 8,719.9 $ 9,056.1
Other comprehensive income (loss) before reclassifications 127.7 (118.2)
Reclassification adjustments to earnings 0.7 2.0
Net other comprehensive income (loss) 128.4 (116.2)
Ending balance 8,841.6 8,876.4
Accumulated Other Comprehensive Loss    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance (2,320.9) (2,069.1)
Ending balance (2,192.5) (2,185.3)
Currency translation adjustment and other    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance (2,170.2) (1,832.3)
Other comprehensive income (loss) before reclassifications 136.5 (130.8)
Reclassification adjustments to earnings 0.0 0.0
Net other comprehensive income (loss) 136.5 (130.8)
Ending balance (2,033.7) (1,963.1)
Losses on cash flow hedges, net of tax    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance (16.7) (42.5)
Other comprehensive income (loss) before reclassifications (8.1) 5.1
Reclassification adjustments to earnings (0.9) (0.1)
Net other comprehensive income (loss) (9.0) 5.0
Ending balance (25.7) (37.5)
Gains on net investment hedges, net of tax    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance 78.4 64.9
Other comprehensive income (loss) before reclassifications 2.0 6.5
Reclassification adjustments to earnings 0.0 0.0
Net other comprehensive income (loss) 2.0 6.5
Ending balance 80.4 71.4
Pension (losses) gains, net of tax    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Beginning balance (212.4) (259.2)
Other comprehensive income (loss) before reclassifications (2.7) 1.0
Reclassification adjustments to earnings 1.6 2.1
Net other comprehensive income (loss) (1.1) 3.1
Ending balance $ (213.5) $ (256.1)
v3.25.1
ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Cost of sales $ 2,623.8 $ 2,761.0
Interest expense 126.4 131.5
Other, net 47.5 80.0
Earnings before income taxes 127.6 48.3
Income taxes (37.2) (28.8)
Net Earnings 90.4 19.5
Reclassification of Accumulated Other Comprehensive Income | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Cost of sales 3.6 1.7
Interest expense (1.7) (1.5)
Earnings before income taxes 1.9 0.2
Income taxes (1.0) (0.1)
Net Earnings 0.9 0.1
Reclassification of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment Attributable to Parent    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Other, net (2.1) (2.8)
Income taxes 0.5 0.7
Net Earnings $ (1.6) $ (2.1)
v3.25.1
NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Other Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Service cost $ 0.1 $ 0.1
Interest cost 0.3 0.4
Expected return on plan assets 0.0 0.0
Amortization of prior service cost (credit) 0.0 0.0
Amortization of net loss (gain) (0.4) (0.3)
Net periodic pension expense 0.0 0.2
U.S. Plans | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Service cost 1.9 1.6
Interest cost 12.5 12.9
Expected return on plan assets (14.8) (15.2)
Amortization of prior service cost (credit) 0.1 0.2
Amortization of net loss (gain) 2.0 2.0
Net periodic pension expense 1.7 1.5
Non-U.S. Plans | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Service cost 2.8 3.1
Interest cost 10.1 10.4
Expected return on plan assets (11.7) (10.9)
Amortization of prior service cost (credit) (0.2) (0.2)
Amortization of net loss (gain) 0.6 1.1
Net periodic pension expense $ 1.6 $ 3.5
v3.25.1
FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets $ 16.1 $ 32.6
Derivative liabilities 231.7 11.8
Fair Value, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market fund 16.2 14.2
Deferred compensation plan investments 14.4 17.0
Derivative assets 16.1 32.6
Derivative liabilities 16.0 11.8
Non-derivative hedging instrument 215.7  
Contingent consideration liability 161.5 167.4
Fair Value, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market fund 16.2 14.2
Deferred compensation plan investments 14.4 17.0
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
Fair Value, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market fund 0.0 0.0
Deferred compensation plan investments 0.0 0.0
Derivative assets 16.1 32.6
Derivative liabilities 16.0 11.8
Non-derivative hedging instrument 215.7  
Contingent consideration liability 0.0 0.0
Fair Value, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market fund 0.0 0.0
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 $ 161.5 $ 167.4
v3.25.1
FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities Not Carried at Fair Value (Details) - USD ($)
$ in Millions
Mar. 29, 2025
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 5,604.6 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 $ 5,099.5 $ 5,548.8
v3.25.1
FAIR VALUE MEASUREMENTS - Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Dec. 28, 2024
USD ($)
Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Change in fair value due to change in discount rate $ 4.2    
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 $ 7.8    
Contingent consideration liability $ 161.5 $ 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%
v3.25.1
RESTRUCTURING CHARGES AND OTHER, NET - Schedule of Restructuring Reserve Activity (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Restructuring Reserve [Roll Forward]    
Reserve, beginning balance $ 45.4  
Net Additions 1.2 $ 15.0
Usage (11.3)  
Currency (0.4)  
Reserve, ending balance 34.9  
Severance and related costs    
Restructuring Reserve [Roll Forward]    
Reserve, beginning balance 25.3  
Net Additions 6.7  
Usage (6.2)  
Currency (0.4)  
Reserve, ending balance 25.4  
Facility closures and other    
Restructuring Reserve [Roll Forward]    
Reserve, beginning balance 20.1  
Net Additions (5.5)  
Usage (5.1)  
Currency 0.0  
Reserve, ending balance $ 9.5  
v3.25.1
RESTRUCTURING CHARGES AND OTHER, NET - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 28, 2024
Restructuring Cost and Reserve [Line Items]      
Restructuring charges (reversals) $ 1.2 $ 15.0  
Restructuring reserves 34.9   $ 45.4
Other, net 47.5 80.0  
Amortization of intangibles 37.3 $ 41.1  
Operating Segments | Tools & Outdoor      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges (reversals) (1.6)    
Operating Segments | Engineered Fastening      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges (reversals) 0.3    
Corporate Nonsegment      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges (reversals) $ 2.5    
v3.25.1
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Income Tax Disclosure [Abstract]    
Income tax expense $ 37.2 $ 28.8
Effective tax rate (as percent) 29.20% 59.60%
v3.25.1
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
segment
Mar. 30, 2024
USD ($)
Segment Reporting Information [Line Items]    
Number of reportable segments | segment 2  
Sales $ 3,744.6 $ 3,869.5
Operating Segments    
Segment Reporting Information [Line Items]    
Sales $ 3,744.6 $ 3,869.5
Engineered Fastening    
Segment Reporting Information [Line Items]    
Deferred revenue recognized (as percent) 2.40% 2.90%
Engineered Fastening | Infrastructure Business    
Segment Reporting Information [Line Items]    
Sales   $ 92.6
Engineered Fastening | Operating Segments    
Segment Reporting Information [Line Items]    
Sales $ 463.7 $ 584.9
v3.25.1
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Schedule of Net Sales, Segment Profit, Capital and Software Expenditures, Depreciation and Amortization (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Segment Reporting Information [Line Items]    
Net Sales $ 3,744.6 $ 3,869.5
Cost of sales 2,623.8 2,761.0
Selling, general and administrative 852.5 852.0
Other, net (47.5) (80.0)
Loss on sale of business (0.3) 0.0
Asset impairment charge 0.0 (25.5)
Restructuring charges (1.2) (15.0)
Interest income 49.2 43.6
Interest expense (126.4) (131.5)
Earnings before income taxes 127.6 48.3
Capital and Software Expenditures 65.0 65.7
Depreciation and Amortization 128.4 140.2
Tools & Outdoor    
Segment Reporting Information [Line Items]    
Capital and Software Expenditures 56.1 56.1
Depreciation and Amortization 98.8 107.0
Engineered Fastening    
Segment Reporting Information [Line Items]    
Capital and Software Expenditures 8.9 9.6
Depreciation and Amortization 29.6 33.2
Operating Segments    
Segment Reporting Information [Line Items]    
Net Sales 3,744.6 3,869.5
Segment Profit 328.2 320.9
Earnings before income taxes 127.6 48.3
Operating Segments | Tools & Outdoor    
Segment Reporting Information [Line Items]    
Net Sales 3,280.9 3,284.6
Cost of sales 2,290.5 2,342.9
Selling, general and administrative 701.2 686.0
Segment Profit 289.2 255.7
Restructuring charges 1.6  
Operating Segments | Engineered Fastening    
Segment Reporting Information [Line Items]    
Net Sales 463.7 584.9
Cost of sales 333.4 418.9
Selling, general and administrative 91.3 100.8
Segment Profit 39.0 65.2
Restructuring charges (0.3)  
Corporate Nonsegment    
Segment Reporting Information [Line Items]    
Corporate overhead (74.4) (64.2)
Restructuring charges (2.5)  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment    
Segment Reporting Information [Line Items]    
Other, net (47.5) (80.0)
Loss on sale of business (0.3)  
Asset impairment charge   (25.5)
Restructuring charges (1.2) (15.0)
Interest income 49.2 43.6
Interest expense $ (126.4) $ (131.5)
v3.25.1
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Schedule of Segment Assets (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Segment Reporting Information [Line Items]    
Segment Assets $ 22,496.2 $ 21,848.9
Operating Segments    
Segment Reporting Information [Line Items]    
Segment Assets 22,631.2 22,098.7
Operating Segments | Tools & Outdoor    
Segment Reporting Information [Line Items]    
Segment Assets 18,670.5 18,135.8
Operating Segments | Engineered Fastening    
Segment Reporting Information [Line Items]    
Segment Assets 3,960.7 3,962.9
Corporate Nonsegment    
Segment Reporting Information [Line Items]    
Segment Assets $ (135.0) $ (249.8)
v3.25.1
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Schedule of Net Sales by Geographic Area (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Segment Reporting Information [Line Items]    
Net Sales $ 3,744.6 $ 3,869.5
United States    
Segment Reporting Information [Line Items]    
Net Sales 2,327.3 2,357.3
Canada    
Segment Reporting Information [Line Items]    
Net Sales 198.1 215.9
Other Americas    
Segment Reporting Information [Line Items]    
Net Sales 179.2 209.5
Europe    
Segment Reporting Information [Line Items]    
Net Sales 752.0 788.7
Asia    
Segment Reporting Information [Line Items]    
Net Sales $ 288.0 $ 298.1
v3.25.1
CONTINGENCIES (Details)
cubic_yard in Millions, $ in Millions
 1 Months Ended 3 Months Ended
Dec. 18, 2024
Jan. 19, 2024
USD ($)
Apr. 07, 2023
USD ($)
Mar. 02, 2023
company
mi
Dec. 16, 2022
USD ($)
company
Feb. 11, 2022
mi
Sep. 28, 2021
USD ($)
Dec. 04, 2020
USD ($)
Oct. 10, 2018
mi
Jun. 30, 2018
USD ($)
municipality
company
mi
Mar. 30, 2017
mi
Sep. 30, 2016
mi
Mar. 31, 2016
company
mi
Mar. 04, 2016
USD ($)
cubic_yard
mi
Apr. 11, 2014
mi
May 31, 2007
company
mi
Mar. 29, 2025
USD ($)
site
mi
Dec. 28, 2024
USD ($)
Loss Contingencies [Line Items]                                    
Penalty charge   $ 32.0                                
Superfund sites | site                                 23  
Environmental remediation costs deemed probable and reasonably estimable         $ 150.0   $ 441.0             $ 1,400.0        
Reserve for environmental loss contingencies, EPA funded amount                                 $ 17.3  
Environmental remediation, period construction of treatment facility to be maintained (in years)                                 30 years  
Number of miles of river | mi       9   17     9 8.3 8.3 8.3 8.3 8.3 8.3 17 17  
Cubic yards of settlement | cubic_yard                           3.5        
Approximate implementation time (in years)                           6 years        
Number of defendants | company                   100                
Estimated costs of remediation design                   $ 165.0                
Number of municipalities | municipality                   42                
Number of parties notified | company                         105          
Number of parties | company       40 85                          
Environmental exit costs anticipated cost (as percent)         99.40%                          
Appeal deadline period 60 days                                  
YPF And Repsol                                    
Loss Contingencies [Line Items]                                    
Litigation settlement, amount     $ 573.0                              
Lower Passaic Cooperating Parties Group                                    
Loss Contingencies [Line Items]                                    
Number of companies | company                               47    
YPF And Repsol | Lower Passaic Cooperating Parties Group                                    
Loss Contingencies [Line Items]                                    
Litigation settlement, amount awarded from other party     $ 9.0                              
Minimum                                    
Loss Contingencies [Line Items]                                    
Environmental remediation costs deemed probable and reasonably estimable               $ 420.0                    
Maximum                                    
Loss Contingencies [Line Items]                                    
Environmental remediation costs deemed probable and reasonably estimable               $ 468.0                    
Property, Plant and Equipment, Other Types                                    
Loss Contingencies [Line Items]                                    
Environmental remediation costs, reserve                                 $ 273.3 $ 275.4
Reserve for environmental remediation costs, current                                 51.5  
Reserve for environmental remediation costs, noncurrent                                 221.8  
Net cash obligations                                 256.0  
Accrual for environmental loss contingencies, obligation after EPA funding                                 7.5  
Estimated environmental remediation expense                                 24.5  
Property, Plant and Equipment, Other Types | Minimum                                    
Loss Contingencies [Line Items]                                    
Environmental remediation costs deemed probable and reasonably estimable                                 189.9  
Property, Plant and Equipment, Other Types | Maximum                                    
Loss Contingencies [Line Items]                                    
Environmental remediation costs deemed probable and reasonably estimable                                 405.8  
Centredale Site                                    
Loss Contingencies [Line Items]                                    
Environmental remediation costs deemed probable and reasonably estimable                                 $ 160.7  
v3.25.1
COMMITMENTS AND GUARANTEES - Schedule of Right-of-Use Assets and Lease Liabilities (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Commitments and Guarantees [Abstract]    
Right-of-use assets $ 459.1 $ 473.4
Lease liabilities $ 474.7 $ 491.8
Weighted-average incremental borrowing rate (as percent) 4.70% 4.70%
Weighted-average remaining term (in years) 6 years 6 years
v3.25.1
COMMITMENTS AND GUARANTEES - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Dec. 28, 2024
Guarantor Obligations [Line Items]    
Operating lease, right-of-use asset, statement of financial position, extensible enumeration Other assets Other assets
Operating lease, liability, current, statement of financial position, extensible enumeration Accrued expenses Accrued expenses
Operating lease, liability, noncurrent, statement of financial position, extensible enumeration Other liabilities Other liabilities
Supplier finance program, obligation, current $ 461.3 $ 483.6
Unconditional purchase obligation 227.4  
Unconditional purchase obligation in 2025 96.1  
Unconditional purchase obligation in 2026 59.9  
Unconditional purchase obligation in 2027 71.4  
Lease guarantees 353.6  
Carrying amount of guarantees recorded in the consolidated balance sheet $ 17.0  
Product warrantees (in years) 1 year  
Property Lease Guarantee    
Guarantor Obligations [Line Items]    
Lease guarantees $ 78.2  
Carrying amount of guarantees recorded in the consolidated balance sheet 0.0  
Lease Obligations    
Guarantor Obligations [Line Items]    
Residual value of leased asset 119.3  
Standby letters of credit    
Guarantor Obligations [Line Items]    
Lease guarantees 178.4  
Carrying amount of guarantees recorded in the consolidated balance sheet 0.0  
Commercial customer financing arrangements    
Guarantor Obligations [Line Items]    
Lease guarantees 97.0  
Carrying amount of guarantees recorded in the consolidated balance sheet $ 17.0  
v3.25.1
COMMITMENTS AND GUARANTEES - Schedule of Financial Guarantees (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Guarantor Obligations [Line Items]  
Maximum Potential Payment $ 353.6
Carrying Amount of Liability 17.0
Guarantees on the residual values of leased assets  
Guarantor Obligations [Line Items]  
Maximum Potential Payment 78.2
Carrying Amount of Liability 0.0
Standby letters of credit  
Guarantor Obligations [Line Items]  
Maximum Potential Payment 178.4
Carrying Amount of Liability 0.0
Commercial customer financing arrangements  
Guarantor Obligations [Line Items]  
Maximum Potential Payment 97.0
Carrying Amount of Liability $ 17.0
Minimum | Guarantees on the residual values of leased assets  
Guarantor Obligations [Line Items]  
Term 3 years
Maximum | Guarantees on the residual values of leased assets  
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
v3.25.1
COMMITMENTS AND GUARANTEES - Schedule of Changes in Carrying Amount of Product Warranties (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Movement in Standard Product Warranty Accrual [Roll Forward]    
Balance beginning of period $ 140.1 $ 136.7
Warranties and guarantees issued 39.5 46.6
Warranty payments and currency (34.5) (39.9)
Balance end of period $ 145.1 $ 143.4
v3.25.1
DIVESTITURES (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 01, 2024
Mar. 29, 2025
Mar. 30, 2024
Dec. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Pre-tax income on business   $ (0.3) $ 0.0  
Asset impairment charge   $ 0.0 25.5  
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]        
Sale of business $ 760.0      
Proceeds from sale of business $ 728.5      
Discontinued Operations, Held-for-sale | Infrastructure        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Pre-tax income on business     9.6  
Asset impairment charge     $ 25.5 $ 150.8