Stanley Black & Decker (SWK) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 27, 2020	Jul. 20, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 27, 2020
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
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		159,681,745
Entity Central Index Key	0000093556
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--01-02
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock $2.50 Par Value Per Share
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	SWK
Security Exchange Name	NYSE
Corporate Units - SWT
Document Information [Line Items]
Title of 12(b) Security	Corporate Units
Trading Symbol	SWT
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Income Statement [Abstract]
Net Sales	$ 3,147.4	$ 3,761.3	$ 6,276.8	$ 7,094.9
Costs and Expenses
Cost of sales	2,134.7	2,461.5	4,241	4,689.5
Selling, general and administrative	713	776.2	1,450.8	1,536.8
Provision for credit losses	19	6.1	29.7	24.4
Other, net	86.9	62.2	161.8	127.6
Gain on sale of business	0	(17.2)	0	(17.2)
Restructuring charges	27.9	8.5	31.8	17.2
Interest expense	57.3	72.4	117	146.8
Interest income	(2.5)	(12.1)	(12.6)	(28.7)
Costs and Expenses	3,036.3	3,357.6	6,019.5	6,496.4
Earnings before income taxes and equity interest	111.1	403.7	257.3	598.5
Income tax (benefit) expense	(117.3)	51.6	(104.4)	76.3
Net earnings before equity interest	228.4	352.1	361.7	522.2
Share of net earnings of equity method investment	10.3	5.3	10.1	5.6
Net earnings	238.7	357.4	371.8	527.8
Less: Net earnings attributable to non-controlling interests	0.3	1.1	0.2	1.6
Net earnings attributable to Stanley Black & Decker, Inc.	238.4	356.3	371.6	526.2
Less: Preferred stock dividends	4.7
Net Earnings Attributable to Common Shareowners	233.7	356.3	366.9	526.2
Total Comprehensive Income Attributable to Common Shareowners	$ 336.5	$ 355.6	$ 210.9	$ 526.5
Earnings per share of common stock:
Basic (in shares)	$ 1.52	$ 2.41	$ 2.41	$ 3.56
Diluted (in shares)	1.52	2.37	2.39	3.50
Dividends per share of common stock (in dollars per share)	$ 0.69	$ 0.66	$ 1.38	$ 1.32
Weighted Average Shares Outstanding (in thousands):
Basic (in shares)	153,330	148,099	152,011	147,982
Diluted (in shares)	154,154	150,358	153,290	150,139
Preferred Stock Dividends, Income Statement Impact	$ 4.7	$ 0	$ 4.7	$ 0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 27, 2020	Dec. 28, 2019
Current Assets
Cash and cash equivalents	$ 859.8	$ 297.7
Accounts and notes receivable, net	1,719.4	1,454.6
Inventories, net	2,753.4	2,255
Other current assets	436.9	449.3
Total Current Assets	5,769.5	4,456.6
Property, plant and equipment, net	2,024.4	1,959.5
Goodwill	9,805.2	9,237.5
Intangibles, net	4,106.4	3,622
Other assets	1,278.9	1,321
Total Assets	22,984.4	20,596.6
Current Liabilities
Short-term borrowings	703.1	337.3
Current maturities of long-term debt	3.1	3.1
Accounts payable	2,117.4	2,087.8
Accrued expenses	1,754.7	1,977.5
Total Current Liabilities	4,578.3	4,405.7
Long-term debt	4,658.7	3,176.4
Deferred taxes	599.7	731.2
Post-retirement benefits	597.8	609.4
Other liabilities	2,584.3	2,531.7
Stanley Black & Decker, Inc. Shareowners’ Equity
Preferred stock, without par value: Authorized 10,000,000 shares in 2020 and 2019 Issued and outstanding 1,500,000 shares in 2020 and 2019	1,500	1,500
Common stock, par value $2.50 per share: Authorized 300,000,000 shares in 2020 and 2019 Issued 176,902,738 shares in 2020 and 2019	442.3	442.3
Retained earnings	6,924.5	6,772.8
Additional paid in capital	4,773.2	4,492.9
Accumulated other comprehensive loss	(2,040.6)	(1,884.6)
ESOP	0	(2.3)
Stockholders' Equity Subtotal, Total	11,599.4	11,321.1
Less: cost of common stock in treasury	(1,639.9)	(2,184.8)
Stanley Black & Decker, Inc. Shareowners’ Equity	9,959.5	9,136.3
Non-controlling interests	6.1	5.9
Total Shareowners’ Equity	9,965.6	9,142.2
Total Liabilities and Shareowners’ Equity	$ 22,984.4	$ 20,596.6

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 27, 2020	Dec. 28, 2019
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
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares unissued (in shares)	1,500,000	1,500,000
Preferred Stock, Shares Outstanding	1,500,000	1,500,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
OPERATING ACTIVITIES
Net earnings	$ 238.7	$ 357.4	$ 371.8	$ 527.8
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:
Depreciation and amortization of property, plant and equipment	94.2	93.7	187	187.7
Amortization of intangibles	50.5	48	98.8	91.8
Gain on sale of business	0	(17.2)	0	(17.2)
Share of net earnings of equity method investment	(10.3)	(5.3)	(10.1)	(5.6)
Changes in working capital	(206.4)	35.9	(719.1)	(580.9)
Changes in other assets and liabilities	161.5	(11.5)	(5.4)	(133.9)
Cash provided by (used in) operating activities	328.2	501	(77)	69.7
INVESTING ACTIVITIES
Capital and software expenditures	(64.5)	(97.2)	(147.4)	(186.8)
Proceeds from sale of business, net of cash sold	0	76.7	0	76.7
Business acquisitions, net of cash acquired	0.4	0.2	(1,302)	(676)
Purchases of investments	(7.1)	(8.3)	(13.6)	(253.7)
Net investment hedge settlements	16.6	0	41	3.9
Other	(2.2)	(3.6)	1.5	(3.6)
Cash used in investing activities	(56.8)	(32.2)	(1,420.5)	(1,039.5)
FINANCING ACTIVITIES
Payment on long-term debt	0	0	0	(400)
Proceeds from debt issuances, net of fees	(3.8)	(0.7)	1,482.6	496.2
Stock purchase contract fees	(20)	(10.1)	(40.1)	(20.2)
Net short-term (repayments) borrowings	(980.8)	(330.6)	371.1	1,089.3
Proceeds from issuances of common stock	756.7	14.4	801.3	24.6
Purchases of common stock for treasury	(0.3)	(1.1)	(9.3)	(9.2)
Craftsman deferred purchase price	0	0	(250)	0
Craftsman contingent consideration	(33)	0	(33)	0
Termination of interest rate swaps	0	0	(20.5)	(1)
Cash dividends on common stock	(105.8)	(97.7)	(211.4)	(195.3)
Other	(4.5)	(4.1)	(7)	(6.1)
Cash (used in) provided by financing activities	(391.5)	(429.9)	2,083.7	978.3
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1.6)	0.2	(24.2)	5
Change in cash, cash equivalents and restricted cash	(121.7)	39.1	562	13.5
Cash, cash equivalents and restricted cash, beginning of period	998.3	285.8	314.6	311.4
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	$ 876.6	$ 324.9	$ 876.6	$ 324.9

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Reconciliation of Cash and Cash Equivalents - USD ($) $ in Millions	Jun. 27, 2020	Dec. 28, 2019
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 859.8	$ 297.7
Restricted cash included in Other current assets	16.8	16.9
Cash, cash equivalents and restricted cash	$ 876.6	$ 314.6

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREOWNERS' EQUITY - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	ESOP	Treasury Stock	Non- Controlling Interests
Beginning balance at Dec. 29, 2018	$ 7,839.9	$ 750	$ 442.3	$ 4,621	$ 6,219	$ (1,814.3)	$ (10.5)	$ (2,371.3)	$ 3.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	170.4				169.9				0.5
Other comprehensive income (loss)	1					1
Cash dividends declared (in usd per share)	(97.6)				(97.6)
Repurchase of common stock	(8.1)							(8.1)
Issuance of common stock	10.2			(15.2)				25.4
Stock-based compensation related	16.7			16.7
ESOP	4.2						4.2
Ending balance at Mar. 30, 2019	7,936.7	750	442.3	4,622.5	6,291.3	(1,813.3)	(6.3)	(2,354)	4.2
Beginning balance at Dec. 29, 2018	7,839.9	750	442.3	4,621	6,219	(1,814.3)	(10.5)	(2,371.3)	3.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	0.3
Ending balance at Jun. 29, 2019	8,233.3	750	442.3	4,641.1	6,549.9	(1,814)	(3.4)	(2,337.9)	5.3
Beginning balance at Mar. 30, 2019	7,936.7	750	442.3	4,622.5	6,291.3	(1,813.3)	(6.3)	(2,354)	4.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	357.4				356.3				1.1
Other comprehensive income (loss)	(0.7)					(0.7)
Cash dividends declared (in usd per share)	(97.7)				(97.7)
Repurchase of common stock	(1.1)							(1.1)
Issuance of common stock	14.4			(2.8)				17.2
Stock-based compensation related	21.4			21.4
ESOP	2.9						2.9
Ending balance at Jun. 29, 2019	8,233.3	750	442.3	4,641.1	6,549.9	(1,814)	(3.4)	(2,337.9)	5.3
Beginning balance at Dec. 28, 2019	9,142.2	1,500	442.3	4,492.9	6,772.8	(1,884.6)	(2.3)	(2,184.8)	5.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	133.1				133.2				(0.1)
Other comprehensive income (loss)	(258.8)					(258.8)
Cash dividends declared (in usd per share)	(105.6)				(105.6)
Repurchase of common stock	(9)			10				(19)
Issuance of common stock	44.6			(20.5)				65.1
Preferred stock issuance costs	(1.2)			(1.2)
Stock-based compensation related	15.4			15.4
ESOP	2.3						2.3
Ending balance at Mar. 28, 2020	8,959.2	1,500	442.3	4,496.6	6,796.6	(2,143.4)	0	(2,138.7)	5.8
Beginning balance at Dec. 28, 2019	9,142.2	1,500	442.3	4,492.9	6,772.8	(1,884.6)	(2.3)	(2,184.8)	5.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(156)
Ending balance at Jun. 27, 2020	9,965.6	1,500	442.3	4,773.2	6,924.5	(2,040.6)	0	(1,639.9)	6.1
Beginning balance at Mar. 28, 2020	8,959.2	1,500	442.3	4,496.6	6,796.6	(2,143.4)	0	(2,138.7)	5.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	238.7				238.4				0.3
Other comprehensive income (loss)	102.8					102.8
Cash dividends declared (in usd per share)	(105.8)				(105.8)
Cash dividends declared (in usd per share)	(4.7)				(4.7)
Repurchase of common stock	(0.3)							(0.3)
Issuance of common stock	756.7			257.6				499.1
Preferred stock issuance costs	(2.2)			(2.2)
Stock-based compensation related	21.2			21.2
Ending balance at Jun. 27, 2020	$ 9,965.6	$ 1,500	$ 442.3	$ 4,773.2	$ 6,924.5	$ (2,040.6)	$ 0	$ (1,639.9)	$ 6.1

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHODER EQUITY PARENTHETICAL - $ / shares	3 Months Ended
	Jun. 27, 2020	Mar. 28, 2020	Jun. 29, 2019	Mar. 30, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share (in dollars per share)	$ 0.69	$ 0.69	$ 0.66	$ 0.66
Issuance of common Stock (in shares)	5,538,106	744,339	191,538	284,438
Repurchase of common stock (in shares)	4,227	125,294	7,461	61,663
Preferred Stock, Dividends Per Share, Declared	$ 50

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 27, 2020
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 and six months ended June 27, 2020 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”) Form 10-K for the year ended December 28, 2019, and subsequent related filings with the Securities and Exchange Commission ("SEC"). In February 2020, the Company acquired Consolidated Aerospace Manufacturing, LLC (“CAM”), an industry-leading manufacturer of specialty fasteners and components for the aerospace and defense markets. The acquisition further diversifies the Company's presence in the industrial markets and expands its portfolio of specialty fasteners in the aerospace and defense markets. The CAM acquisition is being accounted for as a business combination using the acquisition method of accounting and the results subsequent to the date of acquisition are included in the Company's Industrial segment. In March 2019, the Company acquired International Equipment Solutions Attachments businesses, Paladin and Pengo, ("IES Attachments"), manufacturers of high quality, performance-driven heavy equipment attachment tools for off-highway applications. The IES Attachments acquisition is being accounted for as a business combination using the acquisition method of accounting and the results subsequent to the date of acquisition are included in the Company's Industrial segment. In May 2019, the Company sold its Sargent & Greenleaf mechanical locks business within the Security segment. The results of this business have been reported in the Condensed Consolidated Financial Statements through the date of sale in 2019. In January 2019, the Company acquired a 20 percent interest in MTD Holdings Inc. ("MTD"), a privately held global manufacturer of outdoor power equipment. MTD manufactures and distributes gas-powered lawn tractors, zero turn mowers, walk behind mowers, snow throwers, trimmers, chain saws, utility vehicles and other outdoor power equipment. Under the terms of the agreement, the Company has the option to acquire the remaining 80 percent of MTD beginning on July 1, 2021 and ending on January 2, 2029. In the event the option is exercised, the companies have agreed to a valuation multiple based on MTD’s 2018 Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), with an equitable sharing arrangement for future EBITDA growth. The Company is applying the equity method of accounting to the MTD investment. Refer to Note F, Acquisitions and Investments , and Note T, Divestitures, for further discussion of these transactions. 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 the previous year have been reclassified to conform to the 2020 presentation. Accounts And Notes Receivable, Net Trade receivables are stated at gross invoice amounts less discounts, other allowances and provisions for credit losses. Financing receivables are initially recorded at fair value, less impairments or provisions for credit losses. Interest income earned from financing receivables that are not delinquent is recorded on the effective interest method. The Company considers any financing receivable that has not been collected within 90 days of original billing date as past-due or delinquent. The Company’s payment terms are generally consistent with the industries in which its businesses operate and typically range from 30-90 days globally. Additionally, the Company considers the credit quality of all past-due or delinquent financing receivables as nonperforming. 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. Allowance For Credit Losses The Company maintains an allowance for credit losses, which represents an estimate of expected losses over the remaining contractual life of its receivables. The allowance is determined using two methods. First, a specific reserve is established for individual accounts where information indicates the customers may have an inability to meet financial obligations. Second, a reserve is determined for all customers based on a range of percentages applied to aging categories. These percentages are based on historical collection rates, write-off experience, and forecasts of future economic conditions. Actual write-offs are charged against the allowance when collection efforts have been unsuccessful. Financial Instruments Derivative financial instruments are employed to manage risks, including foreign currency, interest rate exposures and commodity prices and are not used for trading or speculative purposes. As part of the Company’s risk management program, a variety of financial instruments such as interest rate swaps, currency swaps, purchased currency options, foreign exchange contracts and commodity contracts, may be used to mitigate interest rate exposure, foreign currency exposure and commodity price exposure. The Company recognizes all derivative instruments in the balance sheet at fair value. Changes in the fair value of derivatives are recognized periodically either in earnings or in shareowners’ equity as a component of other comprehensive income (loss) ("OCI"), depending on whether the derivative financial instrument is undesignated or qualifies for hedge accounting and, if so, whether it represents a fair value, cash flow, or net investment hedge. Changes in the fair value of derivatives accounted for as fair value hedges are recorded in earnings in the same caption as the changes in the fair value of the hedged items. Gains and losses on derivatives designated as cash flow hedges, to the extent they are included in the assessment of effectiveness, are recorded in OCI and subsequently reclassified to earnings to offset the impact of the hedged items when they occur. In the event it becomes probable the forecasted transaction to which a cash flow hedge relates will not occur, the derivative would be terminated and the amount in accumulated other comprehensive income (loss) would be recognized in earnings. Changes in the fair value of derivatives that are designated and qualify as a hedge of the net investment in foreign operations, to the extent they are included in the assessment of effectiveness, are reported in OCI and are deferred until disposal of the underlying assets. Gains and losses representing components excluded from the assessment of effectiveness for cash flow and fair value hedges are recognized in earnings on a straight-line basis in the same caption as the hedged item over the term of the hedge. Gains and losses representing components excluded from the assessment of effectiveness for net investment hedges are recognized in earnings on a straight-line basis in Other, net over the term of the hedge. The net interest paid or received on interest rate swaps is recognized as interest expense. Gains and losses resulting from the early termination of interest rate swap agreements are deferred and amortized as adjustments to interest expense over the remaining period of the debt originally covered by the terminated swap. Changes in the fair value of derivatives not designated as hedges are reported in Other, net in the consolidated statements of operations. Refer to Note I, Financial Instruments , for further discussion. Revenue Recognition The Company’s revenues result from the sale of goods or services and reflect the consideration to which the Company expects to be entitled. The Company records revenue based on a five-step model in accordance with Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606"). For its customer contracts, the Company identifies the performance obligations (goods or services), determines the transaction price, allocates the contract transaction price to the performance obligations, and recognizes the revenue when (or as) the performance obligation is transferred to the customer. A good or service is transferred when (or as) the customer obtains control of that good or service. The majority of the Company’s revenues are recorded at a point in time from the sale of tangible products. A portion of the Company’s revenues within the Security and Infrastructure businesses is generated from equipment leased to customers. Customer arrangements are identified as leases if they include transfer of a tangible asset which is provided to the customer in exchange for payments typically at fixed rates payable monthly, quarterly or annually. Customer leases may include terms to allow for extension of leases for a short period of time, but typically do not provide for customer termination prior to the initial term. Some customer leases include terms to allow the customer to purchase the underlying asset, which occurs occasionally, and virtually no customer leases include residual value guarantee clauses. Within the Security business, the underlying asset typically has no value at termination of the customer lease, so no residual value asset is recorded in the financial statements. For Infrastructure business leases, underlying assets are assessed for functionality at termination of the lease and, if necessary, an impairment to the leased asset value is recorded. Provisions for customer volume rebates, product returns, discounts and allowances are variable consideration and are recorded as a reduction of revenue in the same period the related sales are recorded. Such provisions are calculated using historical averages adjusted for any expected changes due to current business conditions. Consideration given to customers for cooperative advertising is recognized as a reduction of revenue except to the extent that there is a distinct good or service and evidence of the fair value of the advertising, in which case the expense is classified as selling, general, and administrative expense. The Company’s revenues can be generated from contracts with multiple performance obligations. When a sales agreement involves multiple performance obligations, each obligation is separately identified (including equipment lease obligations) and the transaction price is allocated based on the amount of consideration the Company expects to be entitled to in exchange for transferring the promised good or service to the customer. Sales of security monitoring systems may have multiple performance obligations, including equipment, installation and monitoring or maintenance services. In most instances, the Company allocates the appropriate amount of consideration to each performance obligation based on the standalone selling price ("SSP") of the distinct goods or services performance obligation. In circumstances where SSP is not observable, the Company allocates the consideration for the performance obligations by utilizing one of the following methods: expected cost plus margin, the residual approach, or a mix of these estimation methods. For performance obligations that the Company satisfies over time, revenue is recognized by consistently applying a method of measuring progress toward complete satisfaction of that performance obligation. The Company utilizes the method that most accurately depicts the progress toward completion of the performance obligation. The Company’s contract sales for the installation of security intruder systems and other construction-related projects are generally recorded under the input method. The input method recognizes revenue on the basis of the Company’s efforts or inputs to the satisfaction of a performance obligation relative to the total inputs expected to satisfy that performance obligation. Revenue recognized on security contracts in process are based upon the allocated contract price and related total inputs of the project at completion. The extent of progress toward completion is generally measured using input methods based on labor metrics. Revisions to these estimates as contracts progress have the effect of increasing or decreasing profits each period. Provisions for anticipated losses are made in the period in which they become determinable. The revenues for monitoring and monitoring-related services are recognized as services are rendered over the contractual period. The Company utilizes the output method for contract sales in the Oil & Gas product line. The output method recognizes revenue based on direct measurements of the customer value of the goods or services transferred to date relative to the remaining goods or services promised under the contract. The output method includes methods such as surveys of performance completed to date, appraisals of results achieved, milestones reached, time elapsed, and units produced or units delivered. Contract assets or liabilities result from transactions with revenue recorded over time. If the measure of remaining rights exceeds the measure of the remaining performance obligations, the Company records a contract asset. Conversely, if the measure of the remaining performance obligations exceeds the measure of the remaining rights, the Company records a contract liability. Incremental costs of obtaining or fulfilling a contract with a customer that are expected to be recovered are recognized and classified in Other current assets or Other assets, as appropriate, in the consolidated balance sheet and are typically amortized over the contract period. The Company recognizes the incremental costs of obtaining or fulfilling a contract as expense when incurred if the amortization period of the asset is one year or less. Customer billings for services not yet rendered are deferred and recognized as revenue as the services are rendered. The associated deferred revenue is included in Accrued expenses or Other liabilities, as appropriate, in the consolidated balance sheet. Refer to Note D, Accounts and Notes Receivable, Net, for further discussion.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	6 Months Ended
	Jun. 27, 2020
Accounting Policies [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS NEW ACCOUNTING STANDARDS ADOPTED — In August 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract . The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted this standard in the first quarter of 2020 and it did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) . The standard modifies disclosure requirements of fair value measurements. The Company adopted this standard in the first quarter of 2020 and it did not have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350). The new standard simplifies the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. The Company adopted this standard in the first quarter of 2020 and will apply prospectively to annual or interim goodwill impairment tests. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326). The new standard amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including accounts and notes receivable. The Company adopted this standard in the first quarter of 2020 and recognized a $3.8 million cumulative-effect adjustment to opening retained earnings related to the Company's allowance for credit losses on accounts and notes receivable. Refer to Note D, Accounts and Notes Receivable, Net, for further discussion. RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET ADOPTED — In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The new standard provides optional expedients and exceptions that companies can apply during a limited time period to account for contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. Companies may elect to apply the new guidance beginning March 12, 2020 through December 31, 2022. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In January 2020, the FASB issued ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) . The new standard clarifies the interaction of accounting for the transition into and out of the equity method. The new standard also clarifies the accounting for measuring certain purchased options and forward contracts to acquire investments. The ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) . The new standard simplifies the accounting for income taxes by removing certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. The new standard also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. The ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20) . The standard modifies disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The ASU is effective for fiscal years ending after December 15, 2020. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 27, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate basic and diluted earnings per share for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date 2020 2019 2020 2019 Numerator (in millions): Net Earnings Attributable to Common Shareowners $ 233.7 $ 356.3 $ 366.9 $ 526.2 Denominator (in thousands): Basic weighted-average shares outstanding 153,330 148,099 152,011 147,982 Dilutive effect of stock contracts and awards 824 2,259 1,279 2,157 Diluted weighted-average shares outstanding 154,154 150,358 153,290 150,139 Earnings per share of common stock: Basic $ 1.52 $ 2.41 $ 2.41 $ 3.56 Diluted $ 1.52 $ 2.37 $ 2.39 $ 3.50 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): Second Quarter Year-to-Date 2020 2019 2020 2019 Number of stock options 3,837 2,274 3,390 2,300 In November 2019, the Company issued 7,500,000 Equity Units with a total notional value of $750.0 million. Each unit initially consists of 750,000 shares of convertible preferred stock ("Series D Preferred Stock") and forward stock purchase contracts. On and after November 15, 2022, the Series D Preferred Stock may be converted into common stock at the option of the holder. At the election of the Company, upon conversion, the Company may deliver cash, common stock, or a combination thereof. The conversion rate was initially 5.2263 shares of common stock per one share of Series D Preferred Stock, which is equivalent to an initial conversion price of approximately $191.34 per share of common stock. As of June 27, 2020, the conversion rate remained 5.2263, equivalent to a conversion price of approximately $191.34 per share of common stock. The Series D Preferred Stock is excluded from the denominator of the diluted earnings per share calculation on the basis that the convertible preferred stock will be settled in cash except to the extent that the conversion value of the convertible preferred stock exceeds its liquidation preference. Therefore, before any redemption or conversion, the common shares that would be required to settle the applicable conversion value in excess of the liquidation preference, if the Company elects to settle such excess in common shares, are included in the denominator of diluted earnings per share in periods in which they are dilutive. The shares related to the Series D Preferred Stock were anti-dilutive during the first six months of 2020. In May 2017, the Company issued 7,500,000 Equity Units with a total notional value of $750.0 million. Each unit initially consisted of 750,000 shares of convertible preferred stock ("Series C Preferred Stock") and forward stock purchase contracts. In May 2020, the Company successfully remarketed the Series C Preferred Stock, as described more fully in Note J, Equity Arrangements. The remarketing generated cash proceeds of $750.0 million which were applied to settle the holders' stock purchase contract obligations, resulting in the Company issuing 5,463,750 common shares. Holders of the remarketed Series C Preferred Stock are entitled to receive cumulative dividends, if declared by the Board of Directors, at an initial fixed rate equal to 5.0% per annum of the $1,000 per share liquidation preference (equivalent to $50.00 per annum per share). In addition, holders have the option to convert the Series C Preferred Stock into common stock. At the election of the Company, upon conversion, the Company may deliver cash, common stock, or a combination thereof. In connection with the remarketing described above, the conversion rate was reset to 6.7352 shares of the Company's common stock per one share of Series C Preferred Stock, which is equivalent to a conversion price of approximately $148.47 per share of common stock. As of June 27, 2020, due to customary anti-dilution provisions, the conversion rate was 6.7411, equivalent to a conversion price of approximately $148.34 per share of common stock. The Series C Preferred Stock is excluded from the denominator of the diluted earnings per share calculation on the basis that the convertible preferred stock will be settled in cash except to the extent that the conversion value of the convertible preferred stock exceeds its liquidation preference. Therefore, before any redemption or conversion, the common shares that would be required to settle the applicable conversion value in excess of the liquidation preference, if the Company elects to settle such excess in common shares, are included in the denominator of diluted earnings per share in periods in which they are dilutive. The shares related to the Series C Preferred Stock were anti-dilutive during the first six months of 2020 and 2019. Refer to Note J, Equity Arrangements , for further discussion of the above transactions.

ACCOUNTS AND NOTES RECEIVABLE,

ACCOUNTS AND NOTES RECEIVABLE, NET	6 Months Ended
	Jun. 27, 2020
Receivables [Abstract]
ACCOUNTS AND NOTES RECEIVABLE, NET	ACCOUNTS AND NOTES RECEIVABLE, NET (Millions of Dollars) June 27, 2020 December 28, 2019 Trade accounts receivable $ 1,573.9 $ 1,284.0 Trade notes receivable 133.9 156.7 Other accounts receivable 148.1 126.3 Gross accounts and notes receivable $ 1,855.9 $ 1,567.0 Allowance for credit losses (136.5) (112.4) Accounts and notes receivable, net $ 1,719.4 $ 1,454.6 Long-term receivables, net $ 135.0 $ 146.1 Trade receivables are dispersed among a large number of retailers, distributors and industrial accounts in many countries. Adequate reserves have been established to cover expected credit losses. Long-term receivables, net, of $135.0 million and $146.1 million at June 27, 2020 and December 28, 2019, respectively, are reported within Other assets in the Condensed Consolidated Balance Sheets. The Company's financing receivables are predominantly related to certain security equipment sales-type leases with commercial businesses. As of June 27, 2020, the current portion of financing receivables within Trade notes receivable approximated $75.8 million. Generally, the Company retains legal title to any equipment under lease and holds the right to repossess such equipment in an event of default. All financing receivables are interest-bearing and the Company has not classified any financing receivables as held-for-sale. Interest income earned from financing receivables that are not delinquent is recorded on the effective interest method. The changes in the allowance for credit losses for the three and six months ended June 27, 2020 are as follows: (Millions of Dollars) Balance March 28, 2020 Cumulative Effect Adjustment (a) Charged To Costs and Expenses Charged To Other Accounts Deductions (c) Balance Accounts receivable $ 108.1 $ — $ 19.0 $ — $ (4.2) $ 122.9 Notes receivable $ 13.6 $ — $ — $ 0.1 $ (0.1) $ 13.6 Total $ 121.7 $ — $ 19.0 $ 0.1 $ (4.3) $ 136.5 (Millions of Dollars) Balance December 28, 2019 Cumulative Effect Adjustment (a) Charged To Costs and Expenses Charged To Other Accounts Deductions (c) Balance Accounts receivable $ 99.3 $ 2.9 $ 29.7 $ (2.8) $ (6.2) $ 122.9 Notes receivable $ 13.1 $ 0.9 $ — $ (0.1) $ (0.3) $ 13.6 Total $ 112.4 $ 3.8 $ 29.7 $ (2.9) $ (6.5) $ 136.5 (a) Represents the cumulative-effect adjustment to opening retained earnings due to the adoption of ASU 2016-13. Refer to Note B, New Accounting Standards , for further discussion. (b) Amounts represent the impacts of foreign currency translation, acquisitions and net transfers to/from other accounts. (c) Amounts represent charge-offs less recoveries of accounts previously charged-off. The following is a summary of the expected timing of receipt of payments from customers on an undiscounted basis as of June 27, 2020 relating to the Company’s lease receivables: (Millions of Dollars) Total Within 1 Year 2 Years 3 Years 4 Years 5 Years Thereafter Financing receivables $ 198.8 $ 75.8 $ 55.1 $ 36.1 $ 19.4 $ 8.6 $ 3.8 Operating leases $ 50.3 $ 48.2 $ 1.3 $ 0.5 $ 0.2 $ 0.1 $ — The following is a summary of lease revenue and sales-type lease profit for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 Sales-type lease revenue $ 30.8 $ 19.6 $ 53.8 $ 41.5 Lease interest revenue 3.0 3.3 6.1 6.5 Operating lease revenue 35.2 37.2 71.5 73.9 Total lease revenue $ 69.0 $ 60.1 $ 131.4 $ 121.9 Sales-type lease profit $ 12.3 $ 7.8 $ 21.4 $ 16.5 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 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 June 27, 2020, 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 June 27, 2020 and December 28, 2019, approximately $25.6 million and $100.0 million of net receivables were derecognized, respectively. For the three and six months ended June 27, 2020, proceeds from transfers of receivables to the Purchaser totaled $28.9 million and $78.0 million, respectively, and payments to the Purchaser during these periods totaled $58.3 million and $152.4 million, respectively. For the three and six months ended June 29, 2019, proceeds from transfers of receivables to the Purchaser totaled $129.0 million and $222.5 million, respectively, and payments to the Purchaser totaled $75.9 million and $243.6 million, respectively. The program resulted in a pre-tax loss of $0.3 million and $1.0 million for the three and six months ended June 27, 2020, respectively, which included service fees of $0.1 million and $0.3 million, respectively. The program resulted in a pre-tax loss of $0.6 million and $2.0 million for the three and six months ended June 29, 2019, respectively, which included service fees of $0.2 million and $0.5 million, 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 June 27, 2020 and December 28, 2019, the Company's deferred revenue totaled $205.7 million and $209.8 million, respectively, of which $110.4 million and $108.9 million, respectively, was classified as current within Accrued expenses in the Condensed Consolidated Balance Sheets. Revenue recognized for the six months ended June 27, 2020 and June 29, 2019 that was previously deferred as of December 28, 2019 and December 29, 2018 totaled $70.8 million and $65.9 million, respectively. As of June 27, 2020, approximately $1.108 billion of revenue from long-term contracts primarily in the Security segment was unearned related to customer contracts which were not completely fulfilled and will be recognized on a decelerating basis over the next five years. This amount excludes any of the Company's contracts with an original expected duration of one year or less.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 27, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of Inventories, net at June 27, 2020 and December 28, 2019 are as follows: (Millions of Dollars) June 27, 2020 December 28, 2019 Finished products $ 1,889.7 $ 1,526.0 Work in process 227.9 162.0 Raw materials 635.8 567.0 Total $ 2,753.4 $ 2,255.0 As part of the CAM acquisition in the first quarter of 2020, the Company acquired net inventory with an estimated fair value of $127.6 million. Refer to Note F, Acquisitions and Investments,

ACQUISITIONS AND INVESTMENTS

ACQUISITIONS AND INVESTMENTS	6 Months Ended
	Jun. 27, 2020
Business Combinations [Abstract]
ACQUISITIONS AND INVESTMENTS	ACQUISITIONS AND INVESTMENTS2020 ACQUISITION CAM On February 24, 2020, the Company acquired CAM for a total estimated purchase price of approximately $1.46 billion, net of cash acquired. The estimated purchase price consists of an initial cash payment of approximately $1.30 billion, net of cash acquired, and future payments up to $200.0 million contingent on The Boeing Company ("Boeing") 737 MAX Airplanes receiving Federal Aviation Administration authorization to return to service and Boeing achieving certain production levels, which were valued at $155.3 million as of the acquisition date. Refer to Note M, Fair Value Measurements , for additional details. CAM is an industry-leading manufacturer of specialty fasteners and components for the aerospace and defense markets. The acquisition further diversifies the Company's presence in the industrial markets and expands its portfolio of specialty fasteners in the aerospace and defense markets. The results of CAM subsequent to the date of acquisition are included in the Company's Industrial segment. The CAM acquisition is being accounted for as a business combination using the acquisition method of accounting, which requires, among other things, certain assets acquired and liabilities assumed to be recognized at their fair values as of the acquisition date. The following table summarizes the estimated acquisition date value of identifiable net assets acquired and liabilities assumed: (Millions of Dollars) Cash and cash equivalents $ 35.9 Accounts receivable, net 48.6 Inventories, net 127.6 Prepaid expenses and other assets 2.7 Property, plant and equipment 132.6 Trade names 25.0 Customer relationships 565.0 Accounts payable (26.3) Accrued expenses (20.9) Deferred taxes (19.4) Other liabilities (0.6) Total identifiable net assets $ 870.2 Goodwill 621.5 Contingent consideration (155.3) Total consideration paid $ 1,336.4 The weighted-average useful life assigned to the intangible assets is 20 years. Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the expected cost synergies of the combined business and assembled workforce. It is estimated that $619.5 million of goodwill will be deductible for tax purposes. The acquisition accounting for CAM is preliminary in certain respects. During the measurement period, the Company expects to record adjustments relating to the finalization of intangible assets and property, plant and equipment valuations, working capital accounts, leases, opening balance sheet contingencies, and various income tax matters, amongst others. 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 fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company’s results from operations. The Company will complete its acquisition accounting as soon as reasonably possible within the measurement period. 2019 ACQUISITIONS IES Attachments On March 8, 2019, the Company acquired IES Attachments for $653.5 million, net of cash acquired. IES Attachments is a manufacturer of high quality, performance-driven heavy equipment attachment tools for off-highway applications. The acquisition further diversifies the Company's presence in the industrial markets, expands its portfolio of attachment solutions and provides a meaningful platform for growth. The results of IES Attachments subsequent to the date of acquisition are included in the Company's Industrial segment. The IES Attachments acquisition was accounted for as a business combination using the acquisition method of accounting, which requires, among other things, certain assets acquired and liabilities assumed to be recognized at their fair values as of the acquisition date. The estimated acquisition date value of identifiable net assets acquired, which includes $77.8 million of working capital (primarily inventory), $78.3 million of deferred tax liabilities, and $328.0 million of intangible assets, was $342.2 million. The related goodwill was $311.3 million. The amount allocated to intangible assets included $304.0 million for customer relationships. The weighted-average useful life assigned to the intangible assets was 14 years. Goodwill was calculated as the excess of the consideration transferred over the net assets recognized and represents the expected cost synergies of the combined business and assembled workforce. It is estimated that $2.4 million of goodwill, relating to the pre-acquisition historical tax basis of goodwill, will be deductible for tax purposes. The acquisition accounting for IES Attachments is complete. The measurement period adjustments recorded in 2020 did not have a material impact to the Company's Condensed Consolidated Financial Statements. Other 2019 Acquisitions During 2019, the Company completed five smaller acquisitions for $40.8 million, net of cash acquired. The estimated acquisition date value of the identifiable net assets acquired, which includes $5.9 million of working capital and $8.8 million of customer relationships, is $19.0 million. The related goodwill is $21.8 million. The useful life assigned to the customer relationships range from 8 to 10 years. The results of these acquisitions subsequent to the dates of acquisition are included in the Company's Industrial and Security segments. The acquisition accounting for these acquisitions is substantially complete with the exception of certain minor items and will be completed within the measurement period. ACTUAL AND PRO-FORMA IMPACT OF THE ACQUISITIONS Actual Impact from Acquisition The net sales and net loss from the 2020 acquisition included in the Company's Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 27, 2020 are shown in the table below. The net loss includes amortization relating to intangible assets recorded upon acquisition, inventory step-up charges, transaction costs, and other integration-related costs. (Millions of Dollars) Second Quarter Year-to-Date Net sales $ 65.3 $ 98.4 Net loss attributable to common shareowners $ (30.6) $ (51.4) Pro-forma Impact from Acquisitions The following table presents supplemental pro-forma information as if the 2020 acquisition had occurred on December 30, 2018 and the 2019 acquisitions had occurred on December 31, 2017. The pro-forma consolidated results are not necessarily indicative of what the Company’s consolidated net sales and net earnings would have been had the Company completed the acquisitions on the aforementioned dates. In addition, the pro-forma consolidated results do not purport to project the future results of the Company. Second Quarter Year-to-Date (Millions of Dollars, except per share amounts) 2020 2019 2020 2019 Net sales $ 3,147.4 $ 3,854.5 $ 6,322.8 $ 7,357.4 Net earnings attributable to common shareowners $ 251.3 $ 350.3 $ 399.2 $ 504.9 Diluted earnings per share $ 1.63 $ 2.33 $ 2.60 $ 3.36 2020 Pro-forma Results The 2020 pro-forma results were calculated by combining the results of Stanley Black & Decker with the stand-alone results of the 2020 acquisition for its respective pre-acquisition period. Accordingly, the following adjustments were made: • Elimination of the historical pre-acquisition intangible asset amortization expense and the addition of intangible asset amortization expense related to intangibles valued as part of the acquisition accounting that would have been incurred from December 29, 2019 to the acquisition date. • Additional depreciation expense for the property, plant, and equipment fair value adjustments that would have been incurred from December 29, 2019 to the acquisition date. • Because the 2020 acquisition was assumed to occur on December 30, 2018, there were no acquisition-related costs or inventory step-up charges factored into the 2020 pro-forma period, as such expenses would have occurred in the first year following the assumed acquisition date. 2019 Pro-forma Results The 2019 pro-forma results were calculated by combining the results of Stanley Black & Decker with the stand-alone results of the 2019 and 2020 acquisitions for their respective pre-acquisition periods. Accordingly, the following adjustments were made: • Elimination of the historical pre-acquisition intangible asset amortization expense and the addition of intangible asset amortization expense related to intangibles valued as part of the acquisition accounting that would have been incurred from December 30, 2018 to the acquisition dates for the 2019 acquisitions and from December 30, 2018 to June 29, 2019 for the 2020 acquisitions. • Additional depreciation expense for the property, plant, and equipment fair value adjustments that would have been incurred from December 30, 2018 to the acquisition date of IES Attachments and from December 30, 2018 to June 29, 2019 for CAM. • Additional expense for acquisition-related costs and inventory step-up charges relating to the 2020 acquisition, as such expenses would have been incurred from December 30, 2018 to June 29, 2019. • Because the 2019 acquisitions were assumed to occur on December 31, 2017, there were no acquisition-related costs or inventory step-up charges factored into the 2019 pro-forma period, as such expenses would have occurred in the first year following the assumed acquisition date. INVESTMENTS On January 2, 2019, the Company acquired a 20 percent interest in MTD, a privately held global manufacturer of outdoor power equipment, for $234 million in cash. With 2019 annual revenue of approximately $2.4 billion, MTD manufactures and distributes gas-powered lawn tractors, zero turn mowers, walk behind mowers, snow throwers, trimmers, chain saws, utility vehicles and other outdoor power equipment. Under the terms of the agreement, the Company has the option to acquire the remaining 80 percent of MTD beginning on July 1, 2021 and ending on January 2, 2029. In the event the option is exercised, the companies have agreed to a valuation multiple based on MTD’s 2018 EBITDA, with an equitable sharing arrangement for future EBITDA growth. The Company is applying the equity method of accounting to the MTD investment. During 2019 and 2020, the Company made additional immaterial investments that are not accounted for under the equity method, which are included in Other assets in the Condensed Consolidated Balance Sheets. The Company acquired less than a 20 percent interest in each investment and does not have the ability to significantly influence any of the investees.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Changes in the carrying amount of goodwill by segment are as follows: (Millions of Dollars) Tools & Storage Industrial Security Total Balance December 28, 2019 $ 5,161.8 $ 1,995.5 $ 2,080.2 $ 9,237.5 Acquisitions — 624.0 0.1 624.1 Foreign currency translation (44.7) 3.1 (14.8) (56.4) Balance June 27, 2020 $ 5,117.1 $ 2,622.6 $ 2,065.5 $ 9,805.2 The goodwill amount for the CAM acquisition is subject to change based upon the allocation of the consideration transferred to the assets acquired and liabilities assumed. Refer to Note F, Acquisitions and Investments, for further discussion.

LONG-TERM DEBT AND FINANCING AR

LONG-TERM DEBT AND FINANCING ARRANGEMENTS	6 Months Ended
	Jun. 27, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT AND FINANCING ARRANGEMENTS	LONG-TERM DEBT AND FINANCING ARRANGEMENTS Long-term debt and financing arrangements at June 27, 2020 and December 28, 2019 are as follows: June 27, 2020 December 28, 2019 (Millions of Dollars) Interest Rate Original Notional Unamortized Discount Unamortized Gain/(Loss) Terminated Swaps 1 Purchase Accounting FV Adjustment Deferred Financing Fees Carrying Value Carrying Value Notes payable due 2021 3.40% $ 400.0 $ (0.1) $ 5.0 $ — $ (0.4) $ 404.5 $ 406.0 Notes payable due 2022 2.90% 754.3 (0.2) — — (1.4) 752.7 752.3 Notes payable due 2026 3.40% 500.0 (0.6) — — (2.6) 496.8 496.5 Notes payable due 2028 7.05% 150.0 — 8.7 8.5 — 167.2 168.3 Notes payable due 2028 4.25% 500.0 (0.3) — — (3.7) 496.0 495.8 Notes payable due 2030 2.30% 750.0 (2.4) — — (5.1) 742.5 — Notes payable due 2040 5.20% 400.0 (0.2) (29.7) — (2.8) 367.3 366.5 Notes payable due 2048 4.85% 500.0 (0.5) — — (5.3) 494.2 494.1 Notes payable due 2060 (junior subordinated) 4.00% 750.0 — — — (9.4) 740.6 — Total long-term debt, including current maturities $ 4,704.3 $ (4.3) $ (16.0) $ 8.5 $ (30.7) $ 4,661.8 $ 3,179.5 Less: Current maturities of long-term debt (3.1) (3.1) Long-term debt $ 4,658.7 $ 3,176.4 1 Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note I, Financial Instruments. In February 2020, the Company issued $750.0 million of senior unsecured term notes maturing March 15, 2030 ("2030 Term Notes") and $750.0 million of fixed-to-fixed reset rate junior subordinated debentures maturing March 15, 2060 (“2060 Junior Subordinated Debentures”). The 2030 Term Notes accrue interest at a fixed rate of 2.3% per annum, with interest payable semi-annually in arrears, and rank equally in right of payment with all of the Company's existing and future unsecured and unsubordinated debt. The 2060 Junior Subordinated Debentures bear interest at a fixed rate of 4.0% per annum, payable semi-annually in arrears, up to but excluding March 15, 2025. From and including March 15, 2025, the interest rate will be reset for each subsequent five five The Company has a $3.0 billion commercial paper program which includes Euro denominated borrowings in addition to U.S. Dollars. As of June 27, 2020, the Company had $697.7 million of borrowings outstanding, of which approximately $299.7 million in Euro denominated commercial paper was designated as a net investment hedge. As of December 28, 2019, the Company had $335.5 million of borrowings outstanding representing Euro denominated commercial paper, which was designated as a net investment hedge. Refer to Note I, Financial Instruments, for further discussion. The Company has a five The Company has a 364-Day $1.0 billion committed credit facility (the "364-Day Credit Agreement"). Borrowings under the 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 364-Day Credit Agreement. The Company must repay all advances under the 364-Day Credit Agreement by the earlier of September 9, 2020 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 364-Day Credit Agreement serves as part of the liquidity back-stop for the Company’s $3.0 billion U.S. Dollar and Euro commercial paper program. As of June 27, 2020, and December 28, 2019, the Company had not drawn on its 364-Day committed credit facility .

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 27, 2020
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 June 27, 2020 and December 28, 2019 is as follows: (Millions of Dollars) Balance Sheet June 27, 2020 December 28, 2019 Balance Sheet June 27, 2020 December 28, 2019 Derivatives designated as hedging instruments: Interest Rate Contracts Cash Flow LT other assets $ — $ — LT other liabilities $ 114.0 $ 40.5 Foreign Exchange Contracts Cash Flow Other current assets 5.8 7.0 Accrued expenses 0.5 7.8 Net Investment Hedge Other current assets 8.7 18.6 Accrued expenses 2.9 8.5 LT other assets — — LT other liabilities 1.5 2.6 Non-derivative designated as hedging instrument: Net Investment Hedge — — Short-term borrowings 299.7 335.5 Total designated as hedging $ 14.5 $ 25.6 $ 418.6 $ 394.9 Derivatives not designated as hedging instruments: Foreign Exchange Contracts Other current assets $ 6.5 $ 3.7 Accrued expenses $ 7.9 $ 6.1 Total $ 21.0 $ 29.3 $ 426.5 $ 401.0 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. Further, as more fully discussed in Note M, Fair Value Measurements , 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 June 27, 2020 and December 28, 2019, there were no assets that had been posted as collateral related to the above mentioned financial instruments. During the six months ended June 27, 2020 and June 29, 2019, cash flows related to derivatives, including those that are separately discussed below, resulted in net cash received of $38.6 million and $22.3 million, respectively. CASH FLOW HEDGES There were after-tax mark-to-market losses of $111.3 million and $54.2 million as of June 27, 2020 and December 28, 2019, respectively, reported for cash flow hedge effectiveness in Accumulated other comprehensive loss. An after-tax loss of $2.9 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 and six months ended June 27, 2020 and June 29, 2019: Second Quarter 2020 (Millions of dollars) Gain (Loss) Classification of Gain (Loss) Gain (Loss) Interest Rate Contracts $ 4.9 Interest expense $ (4.7) $ — Foreign Exchange Contracts $ (4.9) Cost of sales $ 4.3 $ — Year-to-Date 2020 (Millions of Dollars) Gain (Loss) Classification of Gain (Loss) Gain (Loss) Interest Rate Contracts $ (94.0) Interest expense $ (9.2) $ — Foreign Exchange Contracts $ 15.4 Cost of sales $ 6.6 $ — Second Quarter 2019 (Millions of dollars) Gain (Loss) Classification of Gain (Loss) Gain (Loss) Interest Rate Contracts $ (17.5) Interest expense $ (4.1) $ — Foreign Exchange Contracts $ (2.5) Cost of sales $ 2.7 $ — Year-to-Date 2019 (Millions of Dollars) Gain (Loss) Classification of Gain (Loss) Gain (Loss) Interest Rate Contracts $ (28.4) Interest expense $ (8.1) $ — Foreign Exchange Contracts $ 4.5 Cost of sales $ 2.5 $ — A summary of the pre-tax effect of cash flow hedge accounting on the Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 27, 2020 and June 29, 2019 is as follows: Second Quarter 2020 Year-to-Date 2020 (Millions of Dollars) Cost of Sales Interest Expense Cost of Sales Interest Expense Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the cash flow hedges are recorded $ 2,134.7 $ 57.3 $ 4,241.0 $ 117.0 Gain (loss) on cash flow hedging relationships: Foreign Exchange Contracts: Hedged Items $ (4.3) $ — $ (6.6) $ — Gain (loss) reclassified from OCI into Income $ 4.3 $ — $ 6.6 $ — Interest Rate Swap Agreements: Gain (loss) reclassified from OCI into Income 1 $ — $ (4.7) $ — $ (9.2) Second Quarter 2019 Year-to-Date 2019 (Millions of Dollars) Cost of Sales Interest Expense Cost of Sales Interest Expense Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the cash flow hedges are recorded $ 2,461.5 $ 72.4 $ 4,689.5 $ 146.8 Gain (loss) on cash flow hedging relationships: Foreign Exchange Contracts: Hedged Items $ (2.7) $ — $ (2.5) $ — Gain (loss) reclassified from OCI into Income $ 2.7 $ — $ 2.5 $ — Interest Rate Swap Agreements: Gain (loss) reclassified from OCI into Income 1 $ — $ (4.1) $ — $ (8.1) 1 Inclusive of the gain/loss amortization on terminated derivative financial instruments. An after-tax loss of $0.3 million and $1.1 million was reclassified from Accumulated other comprehensive loss into earnings (inclusive of the gain/loss amortization on terminated derivative instruments) for the three months ended June 27, 2020 and June 29, 2019, respectively. An after-tax loss of $1.7 million and $3.2 million was reclassified from Accumulated other comprehensive loss into earnings (inclusive of the gain/loss amortization on terminated derivative instruments) for the six months ended June 27, 2020 and June 29, 2019, respectively, during the periods in which the underlying hedged transactions affected earnings. Interest Rate Contracts : The Company enters 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. During the first quarter of 2020, the Company entered into forward starting interest rate swaps totaling $1.0 billion to offset the expected variability on future interest rate payments associated with debt instruments expected to be issued in the future. These swaps were terminated during the first quarter of 2020 resulting in a loss of $20.5 million, which was recorded in Accumulated other comprehensive loss and is being amortized to earnings as interest expense over future periods. The cash flows stemming from the maturity of such interest rate swaps designated as cash flow hedges are presented within financing activities in the Condensed Consolidated Statements of Cash Flows. As of June 27, 2020 and December 28, 2019, the Company had $400.0 million in forward starting swaps designated as cash flow hedges. Foreign Currency Contracts 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 June 27, 2020 and December 28, 2019, the notional value of forward currency contracts outstanding was $185.6 million and $518.2 million, respectively, maturing on various dates through 2020. In July 2020, the Company executed forward contracts with notional values totaling $125.0 million hedging Euro and Australian dollar exposures. Purchased Option Contracts: The Company and its subsidiaries have entered into various intercompany transactions whereby the notional values are denominated in currencies other than the functional currencies of the party executing the trade. In order to better match the cash flows of its intercompany obligations with cash flows from operations, the Company enters into purchased option contracts. 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. There were no outstanding purchased option contracts as of June 27, 2020 or December 28, 2019. FAIR VALUE HEDGES Interest Rate Risk: In an effort to optimize the mix of fixed versus floating rate debt in the Company’s capital structure, the Company enters into interest rate swaps. In prior years, the Company entered into interest rate swaps related to certain of its notes payable which were subsequently terminated. Amortization of the gain/loss on previously terminated swaps is reported as a reduction of interest expense. Prior to termination, the changes in the fair value of the swaps and the offsetting changes in fair value related to the underlying notes were recognized in earnings. As of June 27, 2020 and December 28, 2019, 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 for the three and six months ended June 27, 2020 and June 29, 2019 is as follows: (Millions of Dollars) Second Quarter 2020 Interest Expense Year-to-Date 2020 Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the fair value hedges are recorded $ 57.3 $ 117.0 Amortization of gain on terminated swaps $ (0.8) $ (1.6) (Millions of Dollars) Second Quarter 2019 Interest Expense Year-to-Date 2019 Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the fair value hedges are recorded $ 72.4 $ 146.8 Amortization of gain on terminated swaps $ (0.7) $ (6.1) In February 2019, the Company redeemed all of the outstanding 2053 Junior Subordinated Debentures. As a result, the Company recorded a pre-tax gain of $4.6 million relating to the remaining unamortized gain on swap termination related to this debt. A summary of the amounts recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of June 27, 2020 and December 28, 2019 is as follows: June 27, 2020 (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 $ 3.1 Terminated Swaps $ 3.1 Long-Term Debt $ 4,658.7 Terminated Swaps $ (19.0) December 28, 2019 (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 $ 3.1 Terminated Swaps $ 3.1 Long-Term Debt $ 3,176.4 Terminated Swaps $ (17.5) (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 $124.3 million and $97.3 million at June 27, 2020 and December 28, 2019, respectively. As of June 27, 2020, the Company had cross currency swaps with notional values totaling $826.1 million maturing on various dates through 2023 hedging a portion of its Japanese yen, Euro and Swiss franc denominated net investments and Euro denominated commercial paper with a value of $299.7 million maturing in 2020 hedging a portion of its Euro denominated net investments. As of December 28, 2019, the Company had cross currency swaps with a notional value totaling $1.1 billion maturing on various dates through 2023 hedging a portion of its Japanese yen, Euro and Swiss franc denominated net investments and Euro denominated commercial paper with a value of $335.5 million maturing in 2020 hedging a portion of its Euro denominated net investments. Maturing foreign exchange contracts resulted in net cash received of $41.0 million and $3.9 million for the six months ended June 27, 2020 and June 29, 2019, respectively. Gains and losses on net investment hedges remain in Accumulated other comprehensive (loss) income 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 earnings in Other, net. The pre-tax gain or loss from fair value changes for the three and six months ended June 27, 2020 and June 29, 2019 was as follows: Second Quarter 2020 (Millions of Dollars) Total Gain (Loss) Recorded in OCI Excluded Component Recorded in OCI Income Statement Classification Total Gain (Loss) Reclassified from OCI to Income Excluded Component Amortized from OCI to Income Forward Contracts $ 0.2 $ — Other, net $ — $ — Cross Currency Swap $ (0.7) $ 16.1 Other, net $ 4.2 $ 4.2 Option Contracts $ — $ — Other, net $ — $ — Non-derivative designated as Net Investment Hedge $ (11.0) $ — Other, net $ — $ — Year-to-Date 2020 (Millions of Dollars) Total Gain (Loss) Recorded in OCI Excluded Component Recorded in OCI Income Statement Classification Total Gain (Loss) Reclassified from OCI to Income Excluded Component Amortized from OCI to Income Forward Contracts $ 0.1 $ — Other, net $ — $ — Cross Currency Swap $ 41.3 $ 34.9 Other, net $ 9.6 $ 9.6 Option Contracts $ — $ — Other, net $ — $ — Non-derivative designated as Net Investment Hedge $ 4.6 $ — Other, net $ — $ — Second Quarter 2019 (Millions of Dollars) Total Gain (Loss) Recorded in OCI Excluded Component Recorded in OCI Income Statement Classification Total Gain (Loss) Reclassified from OCI to Income Excluded Component Amortized from OCI to Income Forward Contracts $ 7.4 $ — Other, net $ 1.3 $ 1.3 Cross Currency Swap $ (2.4) $ 10.6 Other, net $ 6.8 $ 6.8 Option Contracts $ (1.1) $ — Other, net $ — $ — Non-derivative designated as Net Investment Hedge $ (11.4) $ — Other, net $ — $ — Year-to-Date 2019 (Millions of Dollars) Total Gain (Loss) Recorded in OCI Excluded Component Recorded in OCI Income Statement Classification Total Gain (Loss) Reclassified from OCI to Income Excluded Component Amortized from OCI to Income Forward Contracts $ 6.2 $ 4.2 Other, net $ 2.3 $ 2.3 Cross Currency Swap $ 23.5 $ 24.0 Other, net $ 14.5 $ 14.5 Option Contracts $ (2.1) $ — Other, net $ — $ — Non-derivative designated as Net Investment Hedge $ 4.2 $ — Other, net $ — $ — UNDESIGNATED HEDGES Foreign Exchange Contracts: Foreign exchange forward contracts are used to reduce risks arising from the change in fair value of certain foreign currency denominated assets and liabilities (such as affiliate loans, payables and receivables). The objective is to minimize the impact of foreign currency fluctuations on operating results. The total notional amount of the forward contracts outstanding at June 27, 2020 was $958.9 million, maturing on various dates through 2020. The total notional amount of the forward contracts outstanding at December 28, 2019 was $946.8 million, maturing on various dates through 2020. The gain (loss) recorded in income from changes in the fair value related to derivatives not designated as hedging instruments under ASC 815 for the three and six months ended June 27, 2020 and June 29, 2019 are as follows: (Millions of Dollars) Income Statement Classification Second Quarter Year-to-Date Second Quarter Year-to-Date Foreign Exchange Contracts Other, net $ (6.0) $ 6.4 $ (3.6) $ (1.3)

EQUITY ARRANGEMENTS

EQUITY ARRANGEMENTS	1 Months Ended
	Nov. 30, 2019
Equity [Abstract]
EQUITY ARRANGEMENTS	EQUITY ARRANGEMENTS 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 February 2020, the Company amended the settlement date to April 2022, 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. 2019 Equity Units and Capped Call Transactions In November 2019, the Company issued 7,500,000 Equity Units with a total notional value of $750.0 million (“2019 Equity Units”). Each unit has a stated amount of $100 and initially consists of a three Convertible Preferred Stock In November 2019, the Company issued 750,000 shares of Series D Preferred Stock, without par, with a liquidation preference of $1,000 per share. The convertible preferred stock will initially not bear any dividends and the liquidation preference of the convertible preferred stock will not accrete. The convertible preferred stock has no maturity date and will remain outstanding unless converted by holders or redeemed by the Company. Holders of shares of the convertible preferred stock will generally have no voting rights. The Series D Preferred Stock is pledged as collateral to support holders’ purchase obligations under the 2022 Purchase Contracts and can be remarketed. In connection with any successful remarketing, the Company may (but is not required to) modify certain terms of the convertible preferred stock, including the dividend rate, the conversion rate, and the earliest redemption date. After any successful remarketing in connection with which the dividend rate on the convertible preferred stock is increased, the Company will pay cumulative dividends on the convertible preferred stock, if declared by the Board of Directors, quarterly in arrears from the applicable remarketing settlement date. On and after November 15, 2022, the Series D Preferred Stock may be converted into common stock at the option of the holder. The conversion rate was initially 5.2263 shares of common stock per one share of Series D Preferred Stock, which was equivalent to an initial conversion price of approximately $191.34 per share of common stock. As of June 27, 2020, the conversion rate remained 5.2263, equivalent to a conversion price of approximately $191.34 per share of common stock. At the election of the Company, upon conversion, the Company may deliver cash, common stock, or a combination thereof. The Company may not redeem the Series D Preferred Stock prior to December 22, 2022. At the election of the Company, on or after December 22, 2022, the Company may redeem for cash, all or any portion of the outstanding shares of the Series D Preferred Stock at a redemption price equal to 100% of the liquidation preference, plus any accumulated and unpaid dividends. If the Company calls the Series D Preferred Stock for redemption, holders may convert their shares immediately preceding the redemption date. 2022 Purchase Contracts The 2022 Purchase Contracts obligate the holders to purchase, on November 15, 2022, for a price of $100 in cash, a maximum number of 4.7 million shares of the Company’s common stock (subject to customary anti-dilution adjustments). The 2022 Purchase Contract holders may elect to settle their obligation early, in cash. The Series D Preferred Stock is pledged as collateral to guarantee the holders’ obligations to purchase common stock under the terms of the 2022 Purchase Contracts. The initial settlement rate determining the number of shares that each holder must purchase will not exceed the maximum settlement rate and is determined over a market value averaging period immediately preceding November 15, 2022. The initial maximum settlement rate of 0.6272 was calculated using an initial reference price of $159.45, equal to the last reported sale price of the Company's common stock on November 7, 2019. As of June 27, 2020, the maximum settlement rate remained 0.6272, equivalent to a reference price of $159.45. If the applicable market value of the Company's common stock is less than or equal to the reference price, the settlement rate will be the maximum settlement rate; and if the applicable market value of the Company's common stock is greater than the reference price, the settlement rate will be a number of shares of the Company's common stock equal to $100 divided by the applicable market value. Upon settlement of the 2022 Purchase Contracts, the Company will receive additional cash proceeds of $750 million. The Company pays the holders of the 2022 Purchase Contracts quarterly payments (“Contract Adjustment Payments”) at a rate of 5.25% per annum, payable quarterly in arrears on February 15, May 15, August 15 and November 15, which commenced on February 15, 2020. The $114.2 million present value of the Contract Adjustment Payments reduced Shareowners’ Equity at inception. As each quarterly Contract Adjustment Payment is made, the related liability is reduced and the difference between the cash payment and the present value will accrete to interest expense, approximately $1.3 million per year over the three-year term. As of June 27, 2020, the present value of the Contract Adjustment Payments was $95.4 million. The holders can settle the purchase contracts early, for cash, subject to certain exceptions and conditions in the prospectus supplement. Upon early settlement of any purchase contracts, the Company will deliver the number of shares of its common stock equal to 85% of the number of shares of common stock that would have otherwise been deliverable. Capped Call Transactions In order to offset the potential economic dilution associated with the common shares issuable upon conversion of the Series D Preferred Stock, to the extent that the conversion value of the convertible preferred stock exceeds its liquidation preference, the Company entered into capped call transactions with three major financial institutions. The capped call transactions have a term of approximately three years and are intended to cover the number of shares issuable upon conversion of the Series D Preferred Stock. Subject to customary anti-dilution adjustments, the capped call has an initial lower strike price of $191.34, which corresponds to the minimum 5.2263 settlement rate of the Series D Preferred Stock, and an upper strike price of $207.29, which is approximately 30% higher than the closing price of the Company's common stock on November 7, 2019. As of June 27, 2020, the capped call transactions remained at an adjusted lower strike price of $191.34 and an adjusted upper strike price of $207.29. The capped call transactions may be settled by net share settlement (the default settlement method) or, at the Company’s option and subject to certain conditions, cash settlement, physical settlement or modified physical settlement. The number of shares the Company will receive will be determined by the terms of the contracts using a volume-weighted average price calculation for the market value of the Company's common stock, over an averaging period. The market value determined will then be measured against the applicable strike price of the capped call transactions. The Company expects the capped call transactions to offset the potential dilution upon conversion of the Series D Preferred Stock if the calculated market value is greater than the lower strike price but less than or equal to the upper strike price of the capped call transactions. Should the calculated market value exceed the upper strike price of the capped call transactions, the dilution mitigation will be limited based on such capped value as determined under the terms of the contracts. With respect to the impact on the Company, the capped call transactions and 2019 Equity Units, when taken together, result in the economic equivalent of having the conversion price on the 2019 Equity Units at $207.29, the upper strike price of the capped call as of June 27, 2020. The Company paid $19.2 million, or an average of $4.90 per option, to enter into capped call transactions on 3.9 million shares of common stock. The $19.2 million premium paid was recorded as a reduction of Shareowners’ Equity. The aggregate fair value of the options at June 27, 2020 was $11.8 million. 2017 Equity Units and Capped Call Transactions In May 2017, the Company issued 7,500,000 Equity Units with a total notional value of $750.0 million (“2017 Equity Units”). Each unit had a stated amount of $100 and initially consisted of a three Convertible Preferred Stock In May 2017, the Company issued 750,000 shares of Series C Preferred Stock, without par, with a liquidation preference of $1,000 per share. The convertible preferred stock initially did not bear any dividends and the liquidation preference of the convertible preferred stock did not accrete. The convertible preferred stock has no maturity date and remains outstanding unless converted by holders or redeemed by the Company. Holders of shares of the convertible preferred stock generally have no voting rights. The Series C Preferred Stock was pledged as collateral to support holders’ purchase obligations under the 2020 Purchase Contracts. In May 2020, the Company successfully remarketed the Series C Preferred Stock. In connection with the remarketing, the conversion rate was reset to 6.7352 shares of the Company's common stock, which is equivalent to a conversion price of approximately $148.47 per share. On and after May 15, 2020, the Series C Preferred Stock may be converted into common stock at the option of the holder. At the election of the Company, upon conversion, the Company may deliver cash, common stock, or a combination thereof. As of June 27, 2020 due to customary anti-dilution provisions, the conversion rate was 6.7411, equivalent to a conversion price of approximately $148.34 per share of common stock. Subsequent to the remarketing, holders of the convertible preferred stock will be entitled to receive, if declared by the Board of Directors, cumulative dividends (i) from, and including May 15, 2020 to, but excluding, May 15, 2023 (the "dividend step-up date") at a fixed rate equal to 5.0% per annum of the $1,000 per share liquidation preference (equivalent to $50.00 per annum per share) and (ii) from, and including, the dividend step-up date at a fixed rate equal to 10.0% per annum of the $1,000 per share liquidation preference (equivalent to $100.00 per annum per share). Dividends will be cumulative on the $1,000 liquidation preference per share and will be payable, if declared by the Board of Directors, quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, beginning on August 15, 2020. Dividends accrued on the Series C Preferred Stock reduce net earnings for purposes of calculating earnings per share. The Company does not have the right to redeem the Series C Preferred Stock prior to May 15, 2021. At the election of the Company, on or after May 15, 2021, the Company may redeem for cash, all or any portion of the outstanding shares of the Series C Preferred Stock at a redemption price equal to 100% of the liquidation preference, plus any accumulated and unpaid dividends. If the Company calls the Series C Preferred Stock for redemption, holders may convert their shares immediately preceding the redemption date. 2020 Purchase Contracts The remarketing resulted in cash proceeds of $750.0 million, which were automatically applied to satisfy in full the related unit holders’ obligations to purchase common shares under their 2020 Purchase Contracts. In May 2020, the Company issued 5,463,750 common shares, settling all 2020 Purchase Contracts using the maximum settlement rate of 0.7285 (equivalent to a reference price of $137.26 per common share) . The Company paid the holders of the 2020 Purchase Contracts quarterly payments ("Contracts Adjustment Payments") at a rate of 5.375% per annum, payable quarterly in arrears on February 15, May 15, August 15 and November 15, which commenced August 15, 2017. The $117.1 million initial present value of the Contract Adjustment Payments reduced Shareowners’ Equity at inception. As each quarterly Contract Adjustment Payment was made, the related liability was reduced and the difference between the cash payments and the present value accreted to interest expense, approximately $1.3 million per year over the three-year term. On May 15, 2020, the Company paid the final contract adjustment payment. Capped Call Transactions In May 2017, the Company entered into capped call transactions with three major financial institutions (the "counterparties") in order to offset the potential economic dilution associated with the common shares issuable upon conversion of the Series C Preferred Stock, to the extent that the conversion value of the convertible preferred stock exceeds its liquidation preference. The Company paid $25.1 million, or an average of $5.43 per option, to enter into capped call transactions on 4.6 million shares of common stock. The $25.1 million premium paid was recorded as a reduction of Shareowners’ Equity. The capped call transactions had a term of approximately three years and were intended to cover the number of shares issuable upon conversion of the Series C Preferred Stock. Subject to customary anti-dilution adjustments, the capped call had an initial lower strike price of $162.27, which corresponded to the minimum 6.1627 settlement rate of the Series C Preferred Stock at inception, and an upper strike price of $179.53, which was approximately 30% higher than the closing price of the Company's common stock on May 11, 2017. In June 2020, the capped call options expired out of the money. 2018 Capped Call Transactions In March 2018, the Company purchased from a financial institution “at-the-money” capped call options with an approximate term of three years, on 3.2 million shares of its common stock (subject to customary anti-dilution adjustments) for an aggregate premium of $57.3 million, or an average of $17.96 per share. The premium paid was recorded as a reduction of Shareowners’ Equity. The purpose of the capped call options was to hedge the risk of stock price appreciation between the lower and upper strike prices of the capped call options for a future share repurchase. In February 2020, the Company net-share settled 0.6 million of the 3.2 million capped call options on its common stock and received 61,767 shares using an average reference price of $162.26 per common share. On June 9, 2020, the Company amended the 2018 capped call options to align with and offset the potential economic dilution associated with the common shares issuable upon conversion of the remarketed Series C Preferred Stock, as further discussed above. Subsequent to the amendment, the capped call options had an initial lower strike price of $148.34 and an upper strike price of $165.00, which was approximately 30% higher than the closing price of the Company's common stock on June 9, 2020. As of June 27, 2020, the lower and upper strike prices remained $148.34 and $165.00, respectively. The aggregate fair value of the options at June 27, 2020 was $25.4 million. With respect to the impact on the Company, the capped call transactions and Series C Preferred Stock, when taken together, result in the economic equivalent of having the conversion price on the Series C Preferred Stock at $165.00, the upper strike price of the capped call as of June 27, 2020. The capped call transactions may be settled by net share settlement (the default settlement method) or, at the Company’s option and subject to certain conditions, cash settlement, physical settlement or modified physical settlement. The number of shares the Company will receive will be determined by the terms of the contracts using a volume-weighted-average price calculation for the market value of the Company's common stock, over an averaging period. The market value determined will then be measured against the applicable strike price of the capped call transactions.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 27, 2020
Accumulated Other Comprehensive Income [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSSThe following tables summarize the changes in the balances for each component of accumulated other comprehensive loss: (Millions of Dollars) Currency translation adjustment and other Unrealized (losses) gains on cash flow hedges, net of tax Unrealized gains (losses) on net investment hedges, net of tax Pension (losses) gains, net of tax Total Balance - December 28, 2019 $ (1,517.2) $ (54.2) $ 97.3 $ (410.5) $ (1,884.6) Other comprehensive (loss) income before reclassifications (143.4) (58.8) 34.3 9.7 (158.2) Reclassification adjustments to earnings — 1.7 (7.3) 7.8 2.2 Net other comprehensive (loss) income (143.4) (57.1) 27.0 17.5 (156.0) Balance - June 27, 2020 $ (1,660.6) $ (111.3) $ 124.3 $ (393.0) $ (2,040.6) (Millions of Dollars) Currency translation adjustment and other Unrealized (losses) gains on cash flow hedges, net of tax Unrealized gains (losses) on net investment hedges, net of tax Pension (losses) gains, net of tax Total Balance - December 29, 2018 $ (1,481.2) $ (26.8) $ 63.3 $ (369.6) $ (1,814.3) Other comprehensive income (loss) before reclassifications 2.8 (21.2) 21.6 0.8 4.0 Reclassification adjustments to earnings — 3.2 (12.7) 5.8 (3.7) Net other comprehensive income (loss) 2.8 (18.0) 8.9 6.6 0.3 Balance - June 29, 2019 $ (1,478.4) $ (44.8) $ 72.2 $ (363.0) $ (1,814.0) The reclassifications out of accumulated other comprehensive loss for the six months ended June 27, 2020 and June 29, 2019 were as follows: (Millions of Dollars) 2020 2019 Affected line item in Consolidated Statements of Operations And Comprehensive Income Realized gains on cash flow hedges $ 6.6 $ 2.5 Cost of sales Realized losses on cash flow hedges (9.2) (8.1) Interest expense Total before taxes $ (2.6) $ (5.6) Tax effect 0.9 2.4 Income taxes Realized losses on cash flow hedges, net of tax $ (1.7) $ (3.2) Realized gains on net investment hedges $ 9.6 $ 16.8 Other, net Tax effect (2.3) (4.1) Income taxes Realized gains on net investment hedges, net of tax $ 7.3 $ 12.7 Amortization of defined benefit pension items: Actuarial losses and prior service costs / credits $ (9.6) $ (7.7) Other, net Tax effect 1.8 1.9 Income taxes Amortization of defined benefit pension items, net of tax $ (7.8) $ (5.8)

NET PERIODIC BENEFIT COST - DEF

NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS	6 Months Ended
	Jun. 27, 2020
Retirement Benefits [Abstract]
NET PERIODIC BENEFIT COSTS - DEFINED BENEFIT PLANS	NET PERIODIC BENEFIT COST — DEFINED BENEFIT PLANSFollowing are the components of net periodic pension (benefit) expense for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Pension Benefits Other Benefits U.S. Plans Non-U.S. Plans All Plans (Millions of Dollars) 2020 2019 2020 2019 2020 2019 Service cost $ 1.7 $ 3.2 $ 3.9 $ 3.7 $ 0.2 $ — Interest cost 8.9 11.7 5.4 7.6 0.4 0.4 Expected return on plan assets (14.7) (15.5) (9.9) (11.4) — — Amortization of prior service cost (credit) 0.2 0.3 (0.2) (0.2) (0.4) (0.4) Amortization of net loss 2.2 2.0 2.8 2.2 0.1 — Special termination benefit — — — — 16.0 — Settlement / curtailment loss — — 0.2 0.1 — — Net periodic pension (benefit) expense $ (1.7) $ 1.7 $ 2.2 $ 2.0 $ 16.3 $ — Year-to-Date Pension Benefits Other Benefits U.S. Plans Non-U.S. Plans All Plans (Millions of Dollars) 2020 2019 2020 2019 2020 2019 Service cost $ 3.4 $ 6.2 $ 7.9 $ 7.4 $ 0.3 $ 0.1 Interest cost 17.7 23.5 11.0 15.3 0.8 0.8 Expected return on plan assets (29.4) (30.9) (20.2) (23.0) — — Amortization of prior service cost (credit) 0.5 0.5 (0.4) (0.4) (0.7) (0.7) Amortization of net loss (gain) 4.3 4.0 5.7 4.4 0.2 (0.1) Special termination benefit — — — — 16.0 — Settlement / curtailment loss — — 0.3 0.2 — — Net periodic pension (benefit) expense $ (3.5) $ 3.3 $ 4.3 $ 3.9 $ 16.6 $ 0.1 The components of net periodic benefit cost other than the service cost component are included in Other, net in the Consolidated Statements of Operations and Comprehensive Income.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 27, 2020
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. 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 1 Level 2 Level 3 June 27, 2020 Money market fund $ 2.5 $ 2.5 $ — $ — Derivative assets $ 21.0 $ — $ 21.0 $ — Derivative liabilities $ 126.8 $ — $ 126.8 $ — Non-derivative hedging instrument $ 299.7 $ — $ 299.7 $ — Contingent consideration liabilities $ 331.3 $ — $ — $ 331.3 December 28, 2019 Money market fund $ 1.2 $ 1.2 $ — $ — Derivative assets $ 29.3 $ — $ 29.3 $ — Derivative liabilities $ 65.5 $ — $ 65.5 $ — Non-derivative hedging instrument $ 335.5 $ — $ 335.5 $ — Contingent consideration liability $ 196.1 $ — $ — $ 196.1 The following table provides information about the Company's financial assets and liabilities not carried at fair value: June 27, 2020 December 28, 2019 (Millions of Dollars) Carrying Fair Carrying Fair Other investments $ 13.3 $ 13.8 $ 14.4 $ 14.8 Long-term debt, including current portion $ 4,661.8 $ 5,329.5 $ 3,179.5 $ 3,601.0 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 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 June 27, 2020 and December 28, 2019. The fair values of the derivative financial instruments in the table above are based on current settlement values. As part of the CAM acquisition in February 2020, the Company recorded a contingent consideration liability representing the Company’s obligation to make future payments up to $200.0 million to the former option holders of CAM if the Federal Aviation Administration authorizes the Boeing 737 MAX Airplanes to return to service by June 30, 2022 and Boeing achieves certain production levels by various milestone dates no later than June 30, 2022. The estimated fair value of the contingent consideration liability was $155.3 million as of June 27, 2020 and was determined using a discounted cash flow analysis taking into consideration the expected probability and timing of achieving the milestones, and production rate forecasts. 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. In the second quarter of 2020, the Company made its first payment totaling approximately $33.0 million relating to royalties owed for the previous twelve quarters. 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 $176.0 million and $196.1 million as of June 27, 2020 and December 28, 2019, 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. A 100 basis point reduction in the discount rate would result in an increase to the liability of approximatel y $8.6 million as of June 27, 2020. 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 liabilities discussed above, including the probability and timing of future events, estimated future production rates, and estimated future sales projections, can materially impact the Company’s results from operations. Refer to Note I, Financial Instruments , for more details regarding derivative financial instruments, Note R, Contingencies, for more details regarding the other investments related to the WCLC trust, and Note H, Long-Term Debt and Financing Arrangements

OTHER COSTS AND EXPENSES

OTHER COSTS AND EXPENSES	6 Months Ended
	Jun. 27, 2020
Other Income and Expenses [Abstract]
OTHER COSTS AND EXPENSES	OTHER COSTS AND EXPENSES During the second quarter of 2020, the Company recognized a pre-tax charge of approximately $110.0 million related to the recently initiated comprehensive cost reduction and efficiency program in response to the impact of the COVID-19 pandemic. The charge was primarily related to costs associated with a voluntary retirement program as well as restructuring costs related to headcount actions, as further discussed in Note O, Restructuring Charges .

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	6 Months Ended
	Jun. 27, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES A summary of the restructuring reserve activity from December 28, 2019 to June 27, 2020 is as follows: (Millions of Dollars) December 28, Net Additions Usage Currency June 27, Severance and related costs $ 140.3 $ 28.9 $ (55.3) $ 0.5 $ 114.4 Facility closures and asset impairments 7.5 2.9 (8.3) — 2.1 Total $ 147.8 $ 31.8 $ (63.6) $ 0.5 $ 116.5 For the three and six months ended June 27, 2020, the Company recognized net restructuring charges of $27.9 million and $31.8 million, respectively, primarily related to severance costs associated with the Company's recently implemented cost reduction program. The majority of the $116.5 million of reserves remaining as of June 27, 2020 is expected to be utilized within the next 12 months. Segments: The $32 million of net restructuring charges for the six months ended June 27, 2020 includes: $13 million pertaining to the Tools & Storage segment; $10 million of pertaining to the Industrial segment; and $9 million pertaining to the Security segment.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 27, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was enacted. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act did not have a material impact on the Company's consolidated financial statements in the first or second quarter of 2020. The Company continues to evaluate the potential impacts the CARES Act may have on its operations and consolidated financial statements in future periods. The Company recognized income tax benefits of $117.3 million and $104.4 million for the three and six months ended June 27, 2020, respectively, resulting in effective tax rates of (105.6)% and (40.6)%. In the second quarter of 2020, as a result of initiating a supply chain reorganization, the Company recorded a one-time benefit of $118.8 million to reverse a deferred tax liability previously established related to certain unremitted earnings of foreign subsidiaries not permanently reinvested. Excluding the impacts of this one-time benefit and acquisition-related and other charges, the effective tax rates were 15.0% and 13.9% for the three and six months ended June 27, 2020, respectively. These effective tax rates differ from the U.S. statutory tax rate primarily due to tax on foreign earnings, the re-measurement of uncertain tax position reserves, an intra-entity transfer of certain intellectual property rights, and the tax benefit of equity compensation. The Company recognized income tax expense of $51.6 million and $76.3 million for the three and six months ended June 29, 2019, respectively, resulting in an effective tax rate of 12.8% for both periods. Excluding the impacts of the acquisition-related and other charges and the Sargent & Greenleaf divestiture in the second quarter of 2019, the effective tax rates were 11.6% and 12.8% for the three and six months ended June 29, 2019, respectively. These effective tax rates differed from the U.S. statutory tax rate primarily due to tax on foreign earnings and the effective settlements of income tax audits. 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.

BUSINESS SEGMENTS AND GEOGRAPHI

BUSINESS SEGMENTS AND GEOGRAPHIC AREAS	6 Months Ended
	Jun. 27, 2020
Segment Reporting [Abstract]
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS	BUSINESS SEGMENTS AND GEOGRAPHIC AREAS The Company's operations are classified into three reportable business segments, which also represent its operating segments: Tools & Storage, Industrial and Security. The Tools & Storage segment is comprised of the Power Tools & Equipment ("PTE") and Hand Tools, Accessories & Storage ("HTAS") businesses. The PTE business includes both professional and consumer products. Professional products include professional grade corded and cordless electric power tools and equipment including drills, impact wrenches and drivers, grinders, saws, routers and sanders, as well as pneumatic tools and fasteners including nail guns, nails, staplers and staples, concrete and masonry anchors. Consumer products include corded and cordless electric power tools sold primarily under the BLACK+DECKER brand, lawn and garden products, including hedge trimmers, string trimmers, lawn mowers, edgers and related accessories, and home products such as hand-held vacuums, paint tools and cleaning appliances. The HTAS business sells hand tools, power tool accessories and storage products. Hand tools include measuring, leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels 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, medical cabinets and engineered storage solution products. The Industrial segment is comprised of the Engineered Fastening and Infrastructure businesses. 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, separables, latches, heat shields, pins, and couplings. The Infrastructure business consists of the Attachment Tools and Oil & Gas product lines. Attachment Tools sells hydraulic tools, attachments and accessories. Oil & Gas sells and rents custom pipe handling, joint welding and coating equipment used in the construction of large and small diameter pipelines and provides pipeline inspection services. The Security segment is comprised of the Convergent Security Solutions ("CSS") and Mechanical Access Solutions ("MAS") businesses. The CSS business designs, supplies and installs commercial electronic security systems and provides electronic security services, including alarm monitoring, video surveillance, fire alarm monitoring, systems integration and system maintenance. Purchasers of these systems typically contract for ongoing security systems monitoring and maintenance at the time of initial equipment installation. The business also sells healthcare solutions, which include asset tracking, infant protection, pediatric protection, patient protection, wander management, fall management, and emergency call products. The MAS business primarily sells automatic doors. 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. Segment profit excludes the corporate overhead expense element of SG&A, other, net (inclusive of intangible asset amortization expense), gain on sale of business, restructuring charges, interest expense, interest income, income taxes and share of net earnings or losses of equity method investment. Refer to Note O, Restructuring Charges , for the amount of net restructuring charges by segment. Corporate overhead is comprised of world headquarters facility expense, cost for the executive management team and expenses pertaining to certain centralized functions that benefit the entire Company but are not directly attributable to the businesses, such as legal and corporate finance functions. 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. Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 NET SALES Tools & Storage $ 2,197.2 $ 2,626.0 $ 4,268.0 $ 4,918.3 Industrial 517.5 649.9 1,108.2 1,204.9 Security 432.7 485.4 900.6 971.7 Total $ 3,147.4 $ 3,761.3 $ 6,276.8 $ 7,094.9 SEGMENT PROFIT Tools & Storage $ 345.1 $ 440.0 $ 579.9 $ 705.8 Industrial 5.1 95.1 72.9 166.1 Security 9.2 38.0 30.1 77.5 Segment profit 359.4 573.1 682.9 949.4 Corporate overhead (78.7) (55.6) (127.6) (105.2) Other, net (86.9) (62.2) (161.8) (127.6) Gain on sale of business — 17.2 — 17.2 Restructuring charges (27.9) (8.5) (31.8) (17.2) Interest expense (57.3) (72.4) (117.0) (146.8) Interest income 2.5 12.1 12.6 28.7 Earnings before income taxes and equity interest $ 111.1 $ 403.7 $ 257.3 $ 598.5 As described in Note A, Significant Accounting Policies , the Company recognizes revenue at a point in time from the sale of tangible products or over time depending on when the performance obligation is satisfied. For the three and six months ended June 27, 2020 and June 29, 2019, the majority of the Company’s revenue was recognized at the time of sale. The following table provides the percent of total segment revenue recognized over time for the Industrial and Security segments for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date 2020 2019 2020 2019 Industrial 11.5 % 9.6 % 11.0 % 10.0 % Security 50.6 % 44.9 % 48.7 % 45.2 % The following table is a further disaggregation of the Industrial segment revenue for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 Engineered Fastening $ 351.7 $ 441.9 $ 776.4 $ 876.2 Infrastructure 165.8 208.0 331.8 328.7 Industrial $ 517.5 $ 649.9 $ 1,108.2 $ 1,204.9 The following table is a summary of total assets by segment as of June 27, 2020 and December 28, 2019: (Millions of Dollars) June 27, 2020 December 28, 2019 Tools & Storage $ 14,063.9 $ 13,642.4 Industrial 5,657.1 4,207.0 Security 3,357.6 3,448.6 23,078.6 21,298.0 Corporate assets (94.2) (701.4) Consolidated $ 22,984.4 $ 20,596.6 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, the corporate-related cash accounts will be in a net liability position at times. GEOGRAPHIC AREAS The following table is a summary of net sales by geographic area for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 United States $ 2,004.0 $ 2,216.7 $ 3,846.0 $ 4,108.5 Canada 135.8 160.9 285.7 304.8 Other Americas 90.5 184.0 220.2 349.0 France 105.8 152.6 240.6 306.2 Other Europe 582.1 754.8 1,231.2 1,454.6 Asia 229.2 292.3 453.1 571.8 Consolidated $ 3,147.4 $ 3,761.3 $ 6,276.8 $ 7,094.9

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 27, 2020
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. On January 25, 2019, IPS Worldwide, LLC ("IPS"), a third-party provider of freight payment processing services for the Company, filed for Chapter 11 bankruptcy protection and listed the Company as an unsecured creditor. As of December 29, 2018, there were outstanding obligations of approximately $50.8 million owed to certain of the Company's freight carriers. Such amounts had previously been remitted to IPS through a third-party financing program for ultimate payment to these freight carriers. However, due to nonperformance of IPS with respect to processing these payments and the Company's obligation to its freight carriers, an incremental $50.8 million charge was recorded in the fourth quarter of 2018. This charge did not include any amounts that the Company will attempt to recover from insurance and/or through the bankruptcy proceedings, which could ultimately reduce the loss exposure recorded. 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 28 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 June 27, 2020 and December 28, 2019, the Company had reserves of $204.4 million and $213.8 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 2020 amount, $60.9 million is classified as current and $143.5 million as long-term which is expected to be paid over the estimated remediation period. As of June 27, 2020, the range of environmental remediation costs that is reasonably possible is $137.9 million to $277.4 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. As of June 27, 2020, the Company has recorded $15.8 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 West Coast Loading Corporation (“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 requires the construction of a water treatment facility and the filtering of ground water at or around the site for a period of approximately 30 years or more. As of June 27, 2020, the Company's net cash obligation associated with remediation activities, including WCLC assets, is $188.6 million. The EPA also asserted claims in federal court in Rhode Island against Black & Decker and Emhart related to environmental contamination found at the Centredale Manor Restoration Project Superfund Site ("Centredale"), located in North Providence, Rhode Island. The EPA discovered a variety of contaminants at the site, including but not limited to, dioxins, polychlorinated biphenyls, and pesticides. The EPA alleged that 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 site, and demanded reimbursement of the EPA’s costs related to this site. Black & Decker and Emhart contested the EPA's allegation that they are responsible for the contamination, and asserted contribution claims, counterclaims and cross-claims against a number of other PRPs, including the federal government as well as insurance carriers. The EPA released its Record of Decision ("ROD") in September 2012, which identified and described the EPA's selected remedial alternative for the site. Black & Decker and Emhart contested the EPA's selection of the remedial alternative set forth in the ROD on the grounds that the EPA's actions were arbitrary and capricious and otherwise not in accordance with law, and proposed other equally-protective, more cost-effective alternatives. On June 10, 2014, the EPA issued an Administrative Order under Sec. 106 of CERCLA, instructing Black & Decker and Emhart to perform the remediation of Centredale pursuant to the ROD. Black & Decker and Emhart disputed the factual, legal and scientific bases cited by the EPA for such an administrative order and provided the EPA with numerous good-faith bases for their declination to comply with the administrative order. Black & Decker and Emhart then vigorously litigated the issue of their liability for environmental conditions at the Centredale site, including completing trial on Phase 1 of the proceedings in late July 2015 and completing trial on Phase 2 of the proceedings in April 2017. Following the Phase I trial, the Court found that dioxin contamination at the Centredale site was not "divisible" and that Black & Decker and Emhart were jointly and severally liable for dioxin contamination at the site. Following the Phase 2 trial, the Court found that certain components of the EPA's selected remedy were arbitrary and capricious, and remanded the matter to the EPA while retaining jurisdiction over the ongoing remedy selection and implementation process. The Court also held in Phase 2 that Black & Decker and Emhart had sufficient cause for their declination to comply with the EPA's June 10, 2014 administrative order and that no associated civil penalties or fines were warranted. The United States filed a Motion for Reconsideration concerning the Court's Phase 2 rulings and appealed the ruling to the United States Court of Appeals for the First Circuit. Black & Decker and Emhart's Motion to Dismiss the Appeal was denied without prejudice for consideration with the merits. On July 9, 2018, a Consent Decree was lodged with the United States District Court 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 site. The terms of the Consent Decree were subject to public comment and Court approval. After a full hearing on March 19, 2019, the Court approved and entered the Consent Decree on April 8, 2019. The settlement resolves outstanding issues relating to Phase 1 and 2 of the litigation with the United States. The Company is complying with the terms of the settlement while several PRPs at the site have appealed the District Court's entry of the Consent Decree to the United States Court of Appeals for the First Circuit. Phase 3 of the litigation 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. Based on the Company's estimated remediation and response cost obligations arising out of the settlement reached with the United States (including the EPA’s past costs as well as costs of additional investigation, remediation, and related costs such as EPA’s oversight costs), the Company has increased its reserve for this site. Accordingly, in 2018, a $77.7 million increase was recorded in Other, net in the Consolidated Statements of Operations. As of June 27, 2020, the Company has reserved $106.4 million for this site. 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. As an interim step related to the 2007 AOC, on June 18, 2012, the CPG members voluntarily entered into an AOC with the EPA for remediation actions focused solely at mile 10.9 of the River. The Company’s estimated costs related to the RI/FS and focused remediation action at mile 10.9, based on an interim allocation, are included in its environmental reserves. 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. The EPA received public comment on the FFS and proposed plan (including comments from the CPG and other entities asserting that the FFS and proposed plan do not comply with CERCLA) which public comment period ended on August 20, 2014. The CPG submitted to the EPA a draft RI report in February 2015 and draft FS report in April 2015 for the entire lower seventeen miles of the River. On March 4, 2016, the EPA issued a Record of Decision selecting the remedy for the lower 8.3 miles of the River. The cleanup plan adopted by the EPA is now considered a final action for the lower 8.3 miles of the River and 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. (The EPA estimates that the remedial design will take four years to complete.) 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 and a letter dated March 30, 2017 stating that the EPA had offered 20 of the parties (not including the Company) an early cash out settlement. In a letter dated May 17, 2017, the EPA stated that these 20 parties did not discharge any of the eight hazardous substances identified as the contaminants of concern in the lower 8.3 mile ROD. In the March 30, 2017 letter, the EPA stated that other 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 also be eligible for cash out settlement, but expects 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 currently is participating in the allocation process that is expected to be completed in late 2020. The Company asserts 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. 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. 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 currently are engaged in discovery with OCC. 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 revised draft Interim Remedy Feasibility Study to EPA on May 15, 2020, which identifies various targeted dredge and cap alternatives with costs that range from $420 million to $468 million (net present value). The EPA announced that it intends to issue the Interim Remedy ROD in the Winter of 2020/2021. At this time, the Company cannot reasonably estimate its liability related to the litigation and remediation efforts, excluding the RI/FS and remediation actions at mile 10.9, as the RI/FS is ongoing, the ultimate remedial approach and associated cost for the upper portion of the River has not yet been determined, and the parties that will participate in funding the remediation and their respective allocations are not yet known. 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. As of June 27, 2020, the Company has reserved $25.1 million for this site. The amount recorded for identified contingent liabilities is 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 matters in excess of the amounts recorded will have a materially adverse effect on its financial position, results of operations or liquidity.

COMMITMENTS AND GUARANTEES

COMMITMENTS AND GUARANTEES	6 Months Ended
	Jun. 27, 2020
Commitments and Guarantees [Abstract]
COMMITMENTS AND GUARANTEES	COMMITMENTS AND GUARANTEES COMMITMENTS — The Company has numerous assets, predominantly real estate, vehicles and equipment, under various lease arrangements. At inception of arrangements with vendors, the Company determines whether the contract is or contains a lease based on each party’s rights and obligations under the arrangement. If the lease arrangement also contains non-lease components, the lease and non-lease elements are separately accounted for in accordance with the appropriate accounting guidance for each item. From time to time, lease arrangements allow for, and the Company executes, the purchase of the underlying leased asset. Lease arrangements may also contain renewal options or early termination options. As part of its lease liability and right-of-use asset calculation, consideration is given to the likelihood of exercising any extension or termination options. The present value of the Company’s lease liability was calculated using a weighted-average incremental borrowing rate of approximately 3.70%. The Company determined its incremental borrowing rate based on interest rates from its debt issuances and taking into consideration adjustments for collateral, lease terms and foreign currency. As a result of acquiring right-of-use assets from new leases entered into during the six months ended June 27, 2020, the Company's lease liability increased approximately $53.1 million. As of June 27, 2020, the Company recognized a lease liability of approximately $517.0 million and right-of-use asset of approximately $516.0 million. The right-of-use asset is included within Other assets in the Condensed Consolidated Balance Sheets, while the lease liability is included within Accrued expenses and Other liabilities, as appropriate. As permitted by ASC 842, leases with expected durations of less than 12 months from inception (i.e. short-term leases) were excluded from the Company’s calculation of its lease liability and right-of-use asset. The Company is a party to leases for one of its major distribution centers and two of its office buildings in which the periodic rental payments vary based on interest rates (i.e. LIBOR). The leases qualify as operating leases for accounting purposes. The following is a summary of the Company's total lease cost for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 Operating lease cost $ 37.3 $ 38.7 $ 74.9 $ 76.3 Short-term lease cost 6.0 6.6 12.8 13.4 Variable lease cost 1.8 2.2 3.8 4.3 Sublease income (0.2) (0.9) (0.4) (1.5) Total lease cost $ 44.9 $ 46.6 $ 91.1 $ 92.5 During the three and six months ended June 27, 2020, the Company paid approximately $38.4 million and $79.0 million, respectively, relating to leases included in the measurement of its lease liability and right-of-use asset. During the three and six months ended June 29, 2019, the Company paid approximately $36.6 million and $74.8 million, respectively, relating to leases included in the measurement of its lease liability and right-of-use asset. As of June 27, 2020, the weighted-average remaining term for the Company's leases is approximately 6 years. The following is a summary of the Company's future lease obligations on an undiscounted basis at June 27, 2020: (Millions of Dollars) Total 2020 2021 2022 2023 2024 Thereafter Lease obligations $ 581.9 $ 73.7 $ 124.2 $ 92.2 $ 66.4 $ 56.2 $ 169.2 GUARANTEES — The Company’s financial guarantees at June 27, 2020 are as follows: (Millions of Dollars) Term Maximum Carrying Guarantees on the residual values of leased assets One to four years $ 101.9 $ — Standby letters of credit Up to three years 162.3 — Commercial customer financing arrangements Up to six years 64.7 6.9 Total $ 328.9 $ 6.9 The Company has guaranteed a portion of the residual values of leased assets relating to the previously discussed leases for one of its major distribution centers and two of its office buildings. The lease guarantees are for an amount up to $101.9 million while the fair value of the underlying assets is estimated at $123.9 million. The related assets would be available to satisfy the guarantee obligations and therefore it is unlikely the Company will incur any future loss associated with these guarantees. The Company has issued $162.3 million in standby letters of credit that guarantee future payments which may be required under certain insurance programs and in relation to certain environmental remediation activities described more fully in Note R, Contingencies . The Company provides various limited and full recourse guarantees to financial institutions that provide financing to U.S. and Canadian Mac 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 $64.7 million and the $6.9 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 six months ended June 27, 2020 and June 29, 2019 are as follows: (Millions of Dollars) 2020 2019 Balance beginning of period $ 100.1 $ 102.1 Warranties and guarantees issued 58.5 62.4 Warranty payments and currency (57.0) (61.3) Balance end of period $ 101.6 $ 103.2

DIVESTITURES

DIVESTITURES	6 Months Ended
	Jun. 27, 2020
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURES	DIVESTITURESOn May 30, 2019, the Company sold its Sargent & Greenleaf mechanical locks business within the Security segment, which resulted in net proceeds of $79.0 million and a pre-tax gain of $17.2 million in the second quarter of 2019. This divestiture did not qualify as a discontinued operation and is included in the Company's Consolidated Statements of Operations and Comprehensive Income through the date of sale in 2019. Pre-tax income for this business totaled $1.5 million and $4.6 million for the three and six months ended June 29, 2019, respectively.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 27, 2020
Accounting Policies [Abstract]
Basis of Accounting	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 the previous year have been reclassified to conform to the 2020 presentation.
Accounts And Notes Receivable, Net	Accounts And Notes Receivable, Net Trade receivables are stated at gross invoice amounts less discounts, other allowances and provisions for credit losses. Financing receivables are initially recorded at fair value, less impairments or provisions for credit losses. Interest income earned from financing receivables that are not delinquent is recorded on the effective interest method.
Allowance For Credit Losses	Allowance For Credit Losses The Company maintains an allowance for credit losses, which represents an estimate of expected losses over the remaining contractual life of its receivables. The allowance is determined using two methods. First, a specific reserve is established for individual accounts where information indicates the customers may have an inability to meet financial obligations. Second, a reserve is determined for all customers based on a range of percentages applied to aging categories. These percentages are based on historical collection rates, write-off experience, and forecasts of future economic conditions. Actual write-offs are charged against the allowance when collection efforts have been unsuccessful.
Financial Instruments	Financial Instruments Derivative financial instruments are employed to manage risks, including foreign currency, interest rate exposures and commodity prices and are not used for trading or speculative purposes. As part of the Company’s risk management program, a variety of financial instruments such as interest rate swaps, currency swaps, purchased currency options, foreign exchange contracts and commodity contracts, may be used to mitigate interest rate exposure, foreign currency exposure and commodity price exposure. The Company recognizes all derivative instruments in the balance sheet at fair value. Changes in the fair value of derivatives are recognized periodically either in earnings or in shareowners’ equity as a component of other comprehensive income (loss) ("OCI"), depending on whether the derivative financial instrument is undesignated or qualifies for hedge accounting and, if so, whether it represents a fair value, cash flow, or net investment hedge. Changes in the fair value of derivatives accounted for as fair value hedges are recorded in earnings in the same caption as the changes in the fair value of the hedged items. Gains and losses on derivatives designated as cash flow hedges, to the extent they are included in the assessment of effectiveness, are recorded in OCI and subsequently reclassified to earnings to offset the impact of the hedged items when they occur. In the event it becomes probable the forecasted transaction to which a cash flow hedge relates will not occur, the derivative would be terminated and the amount in accumulated other comprehensive income (loss) would be recognized in earnings. Changes in the fair value of derivatives that are designated and qualify as a hedge of the net investment in foreign operations, to the extent they are included in the assessment of effectiveness, are reported in OCI and are deferred until disposal of the underlying assets. Gains and losses representing components excluded from the assessment of effectiveness for cash flow and fair value hedges are recognized in earnings on a straight-line basis in the same caption as the hedged item over the term of the hedge. Gains and losses representing components excluded from the assessment of effectiveness for net investment hedges are recognized in earnings on a straight-line basis in Other, net over the term of the hedge. The net interest paid or received on interest rate swaps is recognized as interest expense. Gains and losses resulting from the early termination of interest rate swap agreements are deferred and amortized as adjustments to interest expense over the remaining period of the debt originally covered by the terminated swap.
Revenue Recognition	Revenue Recognition The Company’s revenues result from the sale of goods or services and reflect the consideration to which the Company expects to be entitled. The Company records revenue based on a five-step model in accordance with Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606"). For its customer contracts, the Company identifies the performance obligations (goods or services), determines the transaction price, allocates the contract transaction price to the performance obligations, and recognizes the revenue when (or as) the performance obligation is transferred to the customer. A good or service is transferred when (or as) the customer obtains control of that good or service. The majority of the Company’s revenues are recorded at a point in time from the sale of tangible products. A portion of the Company’s revenues within the Security and Infrastructure businesses is generated from equipment leased to customers. Customer arrangements are identified as leases if they include transfer of a tangible asset which is provided to the customer in exchange for payments typically at fixed rates payable monthly, quarterly or annually. Customer leases may include terms to allow for extension of leases for a short period of time, but typically do not provide for customer termination prior to the initial term. Some customer leases include terms to allow the customer to purchase the underlying asset, which occurs occasionally, and virtually no customer leases include residual value guarantee clauses. Within the Security business, the underlying asset typically has no value at termination of the customer lease, so no residual value asset is recorded in the financial statements. For Infrastructure business leases, underlying assets are assessed for functionality at termination of the lease and, if necessary, an impairment to the leased asset value is recorded. Provisions for customer volume rebates, product returns, discounts and allowances are variable consideration and are recorded as a reduction of revenue in the same period the related sales are recorded. Such provisions are calculated using historical averages adjusted for any expected changes due to current business conditions. Consideration given to customers for cooperative advertising is recognized as a reduction of revenue except to the extent that there is a distinct good or service and evidence of the fair value of the advertising, in which case the expense is classified as selling, general, and administrative expense. The Company’s revenues can be generated from contracts with multiple performance obligations. When a sales agreement involves multiple performance obligations, each obligation is separately identified (including equipment lease obligations) and the transaction price is allocated based on the amount of consideration the Company expects to be entitled to in exchange for transferring the promised good or service to the customer. Sales of security monitoring systems may have multiple performance obligations, including equipment, installation and monitoring or maintenance services. In most instances, the Company allocates the appropriate amount of consideration to each performance obligation based on the standalone selling price ("SSP") of the distinct goods or services performance obligation. In circumstances where SSP is not observable, the Company allocates the consideration for the performance obligations by utilizing one of the following methods: expected cost plus margin, the residual approach, or a mix of these estimation methods. For performance obligations that the Company satisfies over time, revenue is recognized by consistently applying a method of measuring progress toward complete satisfaction of that performance obligation. The Company utilizes the method that most accurately depicts the progress toward completion of the performance obligation. The Company’s contract sales for the installation of security intruder systems and other construction-related projects are generally recorded under the input method. The input method recognizes revenue on the basis of the Company’s efforts or inputs to the satisfaction of a performance obligation relative to the total inputs expected to satisfy that performance obligation. Revenue recognized on security contracts in process are based upon the allocated contract price and related total inputs of the project at completion. The extent of progress toward completion is generally measured using input methods based on labor metrics. Revisions to these estimates as contracts progress have the effect of increasing or decreasing profits each period. Provisions for anticipated losses are made in the period in which they become determinable. The revenues for monitoring and monitoring-related services are recognized as services are rendered over the contractual period. The Company utilizes the output method for contract sales in the Oil & Gas product line. The output method recognizes revenue based on direct measurements of the customer value of the goods or services transferred to date relative to the remaining goods or services promised under the contract. The output method includes methods such as surveys of performance completed to date, appraisals of results achieved, milestones reached, time elapsed, and units produced or units delivered. Contract assets or liabilities result from transactions with revenue recorded over time. If the measure of remaining rights exceeds the measure of the remaining performance obligations, the Company records a contract asset. Conversely, if the measure of the remaining performance obligations exceeds the measure of the remaining rights, the Company records a contract liability. Incremental costs of obtaining or fulfilling a contract with a customer that are expected to be recovered are recognized and classified in Other current assets or Other assets, as appropriate, in the consolidated balance sheet and are typically amortized over the contract period. The Company recognizes the incremental costs of obtaining or fulfilling a contract as expense when incurred if the amortization period of the asset is one year or less.
New Accounting Standards	NEW ACCOUNTING STANDARDS ADOPTED — In August 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract . The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted this standard in the first quarter of 2020 and it did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) . The standard modifies disclosure requirements of fair value measurements. The Company adopted this standard in the first quarter of 2020 and it did not have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350). The new standard simplifies the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. The Company adopted this standard in the first quarter of 2020 and will apply prospectively to annual or interim goodwill impairment tests. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326). The new standard amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including accounts and notes receivable. The Company adopted this standard in the first quarter of 2020 and recognized a $3.8 million cumulative-effect adjustment to opening retained earnings related to the Company's allowance for credit losses on accounts and notes receivable. Refer to Note D, Accounts and Notes Receivable, Net, for further discussion. RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET ADOPTED — In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The new standard provides optional expedients and exceptions that companies can apply during a limited time period to account for contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. Companies may elect to apply the new guidance beginning March 12, 2020 through December 31, 2022. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In January 2020, the FASB issued ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) . The new standard clarifies the interaction of accounting for the transition into and out of the equity method. The new standard also clarifies the accounting for measuring certain purchased options and forward contracts to acquire investments. The ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) . The new standard simplifies the accounting for income taxes by removing certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. The new standard also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. The ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20) . The standard modifies disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The ASU is effective for fiscal years ending after December 15, 2020. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 27, 2020
Earnings Per Share [Abstract]
Reconciliation of Net Earnings Attributable to Common Shareowners and Weighted-Average Shares Outstanding used to Calculate Basic and Diluted Earnings per Share	The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate basic and diluted earnings per share for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date 2020 2019 2020 2019 Numerator (in millions): Net Earnings Attributable to Common Shareowners $ 233.7 $ 356.3 $ 366.9 $ 526.2 Denominator (in thousands): Basic weighted-average shares outstanding 153,330 148,099 152,011 147,982 Dilutive effect of stock contracts and awards 824 2,259 1,279 2,157 Diluted weighted-average shares outstanding 154,154 150,358 153,290 150,139 Earnings per share of common stock: Basic $ 1.52 $ 2.41 $ 2.41 $ 3.56 Diluted $ 1.52 $ 2.37 $ 2.39 $ 3.50
Weighted-Average Stock Options and Warrants Outstanding Not included in Computation of 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): Second Quarter Year-to-Date 2020 2019 2020 2019 Number of stock options 3,837 2,274 3,390 2,300

ACCOUNTS AND NOTES RECEIVABLE_2

ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)	6 Months Ended
	Jun. 27, 2020
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	(Millions of Dollars) June 27, 2020 December 28, 2019 Trade accounts receivable $ 1,573.9 $ 1,284.0 Trade notes receivable 133.9 156.7 Other accounts receivable 148.1 126.3 Gross accounts and notes receivable $ 1,855.9 $ 1,567.0 Allowance for credit losses (136.5) (112.4) Accounts and notes receivable, net $ 1,719.4 $ 1,454.6 Long-term receivables, net $ 135.0 $ 146.1
Accounts Receivable, Allowance for Credit Loss	The changes in the allowance for credit losses for the three and six months ended June 27, 2020 are as follows: (Millions of Dollars) Balance March 28, 2020 Cumulative Effect Adjustment (a) Charged To Costs and Expenses Charged To Other Accounts Deductions (c) Balance Accounts receivable $ 108.1 $ — $ 19.0 $ — $ (4.2) $ 122.9 Notes receivable $ 13.6 $ — $ — $ 0.1 $ (0.1) $ 13.6 Total $ 121.7 $ — $ 19.0 $ 0.1 $ (4.3) $ 136.5 (Millions of Dollars) Balance December 28, 2019 Cumulative Effect Adjustment (a) Charged To Costs and Expenses Charged To Other Accounts Deductions (c) Balance Accounts receivable $ 99.3 $ 2.9 $ 29.7 $ (2.8) $ (6.2) $ 122.9 Notes receivable $ 13.1 $ 0.9 $ — $ (0.1) $ (0.3) $ 13.6 Total $ 112.4 $ 3.8 $ 29.7 $ (2.9) $ (6.5) $ 136.5 (a) Represents the cumulative-effect adjustment to opening retained earnings due to the adoption of ASU 2016-13. Refer to Note B, New Accounting Standards , for further discussion. (b) Amounts represent the impacts of foreign currency translation, acquisitions and net transfers to/from other accounts.
Finance Receivables and Operating Lease	The following is a summary of the expected timing of receipt of payments from customers on an undiscounted basis as of June 27, 2020 relating to the Company’s lease receivables: (Millions of Dollars) Total Within 1 Year 2 Years 3 Years 4 Years 5 Years Thereafter Financing receivables $ 198.8 $ 75.8 $ 55.1 $ 36.1 $ 19.4 $ 8.6 $ 3.8 Operating leases $ 50.3 $ 48.2 $ 1.3 $ 0.5 $ 0.2 $ 0.1 $ — The following is a summary of lease revenue and sales-type lease profit for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 Sales-type lease revenue $ 30.8 $ 19.6 $ 53.8 $ 41.5 Lease interest revenue 3.0 3.3 6.1 6.5 Operating lease revenue 35.2 37.2 71.5 73.9 Total lease revenue $ 69.0 $ 60.1 $ 131.4 $ 121.9 Sales-type lease profit $ 12.3 $ 7.8 $ 21.4 $ 16.5

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 27, 2020
Inventory Disclosure [Abstract]
Components of Inventories	The components of Inventories, net at June 27, 2020 and December 28, 2019 are as follows: (Millions of Dollars) June 27, 2020 December 28, 2019 Finished products $ 1,889.7 $ 1,526.0 Work in process 227.9 162.0 Raw materials 635.8 567.0 Total $ 2,753.4 $ 2,255.0

ACQUISITIONS AND INVESTMENTS (T

ACQUISITIONS AND INVESTMENTS (Tables)	6 Months Ended
	Jun. 27, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated acquisition date value of identifiable net assets acquired and liabilities assumed: (Millions of Dollars) Cash and cash equivalents $ 35.9 Accounts receivable, net 48.6 Inventories, net 127.6 Prepaid expenses and other assets 2.7 Property, plant and equipment 132.6 Trade names 25.0 Customer relationships 565.0 Accounts payable (26.3) Accrued expenses (20.9) Deferred taxes (19.4) Other liabilities (0.6) Total identifiable net assets $ 870.2 Goodwill 621.5 Contingent consideration (155.3) Total consideration paid $ 1,336.4
Actual Impact from Acquisition	The net sales and net loss from the 2020 acquisition included in the Company's Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 27, 2020 are shown in the table below. The net loss includes amortization relating to intangible assets recorded upon acquisition, inventory step-up charges, transaction costs, and other integration-related costs. (Millions of Dollars) Second Quarter Year-to-Date Net sales $ 65.3 $ 98.4 Net loss attributable to common shareowners $ (30.6) $ (51.4)
Pro-forma Impact from Acquisitions	The following table presents supplemental pro-forma information as if the 2020 acquisition had occurred on December 30, 2018 and the 2019 acquisitions had occurred on December 31, 2017. The pro-forma consolidated results are not necessarily indicative of what the Company’s consolidated net sales and net earnings would have been had the Company completed the acquisitions on the aforementioned dates. In addition, the pro-forma consolidated results do not purport to project the future results of the Company. Second Quarter Year-to-Date (Millions of Dollars, except per share amounts) 2020 2019 2020 2019 Net sales $ 3,147.4 $ 3,854.5 $ 6,322.8 $ 7,357.4 Net earnings attributable to common shareowners $ 251.3 $ 350.3 $ 399.2 $ 504.9 Diluted earnings per share $ 1.63 $ 2.33 $ 2.60 $ 3.36

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jun. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill by Segment	Changes in the carrying amount of goodwill by segment are as follows: (Millions of Dollars) Tools & Storage Industrial Security Total Balance December 28, 2019 $ 5,161.8 $ 1,995.5 $ 2,080.2 $ 9,237.5 Acquisitions — 624.0 0.1 624.1 Foreign currency translation (44.7) 3.1 (14.8) (56.4) Balance June 27, 2020 $ 5,117.1 $ 2,622.6 $ 2,065.5 $ 9,805.2

LONG-TERM DEBT AND FINANCING _2

LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)	6 Months Ended
	Jun. 27, 2020
Debt Disclosure [Abstract]
Long-Term Debt and Financing Arrangements	Long-term debt and financing arrangements at June 27, 2020 and December 28, 2019 are as follows: June 27, 2020 December 28, 2019 (Millions of Dollars) Interest Rate Original Notional Unamortized Discount Unamortized Gain/(Loss) Terminated Swaps 1 Purchase Accounting FV Adjustment Deferred Financing Fees Carrying Value Carrying Value Notes payable due 2021 3.40% $ 400.0 $ (0.1) $ 5.0 $ — $ (0.4) $ 404.5 $ 406.0 Notes payable due 2022 2.90% 754.3 (0.2) — — (1.4) 752.7 752.3 Notes payable due 2026 3.40% 500.0 (0.6) — — (2.6) 496.8 496.5 Notes payable due 2028 7.05% 150.0 — 8.7 8.5 — 167.2 168.3 Notes payable due 2028 4.25% 500.0 (0.3) — — (3.7) 496.0 495.8 Notes payable due 2030 2.30% 750.0 (2.4) — — (5.1) 742.5 — Notes payable due 2040 5.20% 400.0 (0.2) (29.7) — (2.8) 367.3 366.5 Notes payable due 2048 4.85% 500.0 (0.5) — — (5.3) 494.2 494.1 Notes payable due 2060 (junior subordinated) 4.00% 750.0 — — — (9.4) 740.6 — Total long-term debt, including current maturities $ 4,704.3 $ (4.3) $ (16.0) $ 8.5 $ (30.7) $ 4,661.8 $ 3,179.5 Less: Current maturities of long-term debt (3.1) (3.1) Long-term debt $ 4,658.7 $ 3,176.4 1 Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note I, Financial Instruments.

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 27, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivatives	A summary of the fair values of the Company’s derivatives recorded in the Condensed Consolidated Balance Sheets at June 27, 2020 and December 28, 2019 is as follows: (Millions of Dollars) Balance Sheet June 27, 2020 December 28, 2019 Balance Sheet June 27, 2020 December 28, 2019 Derivatives designated as hedging instruments: Interest Rate Contracts Cash Flow LT other assets $ — $ — LT other liabilities $ 114.0 $ 40.5 Foreign Exchange Contracts Cash Flow Other current assets 5.8 7.0 Accrued expenses 0.5 7.8 Net Investment Hedge Other current assets 8.7 18.6 Accrued expenses 2.9 8.5 LT other assets — — LT other liabilities 1.5 2.6 Non-derivative designated as hedging instrument: Net Investment Hedge — — Short-term borrowings 299.7 335.5 Total designated as hedging $ 14.5 $ 25.6 $ 418.6 $ 394.9 Derivatives not designated as hedging instruments: Foreign Exchange Contracts Other current assets $ 6.5 $ 3.7 Accrued expenses $ 7.9 $ 6.1 Total $ 21.0 $ 29.3 $ 426.5 $ 401.0
Detail Pre-tax Amounts Reclassified From Accumulated Other Comprehensive Income (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 and six months ended June 27, 2020 and June 29, 2019: Second Quarter 2020 (Millions of dollars) Gain (Loss) Classification of Gain (Loss) Gain (Loss) Interest Rate Contracts $ 4.9 Interest expense $ (4.7) $ — Foreign Exchange Contracts $ (4.9) Cost of sales $ 4.3 $ — Year-to-Date 2020 (Millions of Dollars) Gain (Loss) Classification of Gain (Loss) Gain (Loss) Interest Rate Contracts $ (94.0) Interest expense $ (9.2) $ — Foreign Exchange Contracts $ 15.4 Cost of sales $ 6.6 $ — Second Quarter 2019 (Millions of dollars) Gain (Loss) Classification of Gain (Loss) Gain (Loss) Interest Rate Contracts $ (17.5) Interest expense $ (4.1) $ — Foreign Exchange Contracts $ (2.5) Cost of sales $ 2.7 $ — Year-to-Date 2019 (Millions of Dollars) Gain (Loss) Classification of Gain (Loss) Gain (Loss) Interest Rate Contracts $ (28.4) Interest expense $ (8.1) $ — Foreign Exchange Contracts $ 4.5 Cost of sales $ 2.5 $ — A summary of the pre-tax effect of cash flow hedge accounting on the Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 27, 2020 and June 29, 2019 is as follows: Second Quarter 2020 Year-to-Date 2020 (Millions of Dollars) Cost of Sales Interest Expense Cost of Sales Interest Expense Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the cash flow hedges are recorded $ 2,134.7 $ 57.3 $ 4,241.0 $ 117.0 Gain (loss) on cash flow hedging relationships: Foreign Exchange Contracts: Hedged Items $ (4.3) $ — $ (6.6) $ — Gain (loss) reclassified from OCI into Income $ 4.3 $ — $ 6.6 $ — Interest Rate Swap Agreements: Gain (loss) reclassified from OCI into Income 1 $ — $ (4.7) $ — $ (9.2) Second Quarter 2019 Year-to-Date 2019 (Millions of Dollars) Cost of Sales Interest Expense Cost of Sales Interest Expense Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the cash flow hedges are recorded $ 2,461.5 $ 72.4 $ 4,689.5 $ 146.8 Gain (loss) on cash flow hedging relationships: Foreign Exchange Contracts: Hedged Items $ (2.7) $ — $ (2.5) $ — Gain (loss) reclassified from OCI into Income $ 2.7 $ — $ 2.5 $ — Interest Rate Swap Agreements: Gain (loss) reclassified from OCI into Income 1 $ — $ (4.1) $ — $ (8.1) 1 Inclusive of the gain/loss amortization on terminated derivative financial instruments.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	A summary of the pre-tax effect of fair value hedge accounting on the Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 27, 2020 and June 29, 2019 is as follows: (Millions of Dollars) Second Quarter 2020 Interest Expense Year-to-Date 2020 Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the fair value hedges are recorded $ 57.3 $ 117.0 Amortization of gain on terminated swaps $ (0.8) $ (1.6) (Millions of Dollars) Second Quarter 2019 Interest Expense Year-to-Date 2019 Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the fair value hedges are recorded $ 72.4 $ 146.8 Amortization of gain on terminated swaps $ (0.7) $ (6.1) In February 2019, the Company redeemed all of the outstanding 2053 Junior Subordinated Debentures. As a result, the Company recorded a pre-tax gain of $4.6 million relating to the remaining unamortized gain on swap termination related to this debt. A summary of the amounts recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of June 27, 2020 and December 28, 2019 is as follows: June 27, 2020 (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 $ 3.1 Terminated Swaps $ 3.1 Long-Term Debt $ 4,658.7 Terminated Swaps $ (19.0) December 28, 2019 (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 $ 3.1 Terminated Swaps $ 3.1 Long-Term Debt $ 3,176.4 Terminated Swaps $ (17.5) (1) Represents hedged items no longer designated in qualifying fair value hedging relationships.
Details of Foreign Exchange Contracts Pre-Tax Amounts	The pre-tax gain or loss from fair value changes for the three and six months ended June 27, 2020 and June 29, 2019 was as follows: Second Quarter 2020 (Millions of Dollars) Total Gain (Loss) Recorded in OCI Excluded Component Recorded in OCI Income Statement Classification Total Gain (Loss) Reclassified from OCI to Income Excluded Component Amortized from OCI to Income Forward Contracts $ 0.2 $ — Other, net $ — $ — Cross Currency Swap $ (0.7) $ 16.1 Other, net $ 4.2 $ 4.2 Option Contracts $ — $ — Other, net $ — $ — Non-derivative designated as Net Investment Hedge $ (11.0) $ — Other, net $ — $ — Year-to-Date 2020 (Millions of Dollars) Total Gain (Loss) Recorded in OCI Excluded Component Recorded in OCI Income Statement Classification Total Gain (Loss) Reclassified from OCI to Income Excluded Component Amortized from OCI to Income Forward Contracts $ 0.1 $ — Other, net $ — $ — Cross Currency Swap $ 41.3 $ 34.9 Other, net $ 9.6 $ 9.6 Option Contracts $ — $ — Other, net $ — $ — Non-derivative designated as Net Investment Hedge $ 4.6 $ — Other, net $ — $ — Second Quarter 2019 (Millions of Dollars) Total Gain (Loss) Recorded in OCI Excluded Component Recorded in OCI Income Statement Classification Total Gain (Loss) Reclassified from OCI to Income Excluded Component Amortized from OCI to Income Forward Contracts $ 7.4 $ — Other, net $ 1.3 $ 1.3 Cross Currency Swap $ (2.4) $ 10.6 Other, net $ 6.8 $ 6.8 Option Contracts $ (1.1) $ — Other, net $ — $ — Non-derivative designated as Net Investment Hedge $ (11.4) $ — Other, net $ — $ — Year-to-Date 2019 (Millions of Dollars) Total Gain (Loss) Recorded in OCI Excluded Component Recorded in OCI Income Statement Classification Total Gain (Loss) Reclassified from OCI to Income Excluded Component Amortized from OCI to Income Forward Contracts $ 6.2 $ 4.2 Other, net $ 2.3 $ 2.3 Cross Currency Swap $ 23.5 $ 24.0 Other, net $ 14.5 $ 14.5 Option Contracts $ (2.1) $ — Other, net $ — $ — Non-derivative designated as Net Investment Hedge $ 4.2 $ — Other, net $ — $ —
Income Statement Impacts Related to Derivatives Not Designated as Hedging Instruments	The gain (loss) recorded in income from changes in the fair value related to derivatives not designated as hedging instruments under ASC 815 for the three and six months ended June 27, 2020 and June 29, 2019 are as follows: (Millions of Dollars) Income Statement Classification Second Quarter Year-to-Date Second Quarter Year-to-Date Foreign Exchange Contracts Other, net $ (6.0) $ 6.4 $ (3.6) $ (1.3)

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 27, 2020
Accumulated Other Comprehensive Income [Abstract]
Changes to the 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 other Unrealized (losses) gains on cash flow hedges, net of tax Unrealized gains (losses) on net investment hedges, net of tax Pension (losses) gains, net of tax Total Balance - December 28, 2019 $ (1,517.2) $ (54.2) $ 97.3 $ (410.5) $ (1,884.6) Other comprehensive (loss) income before reclassifications (143.4) (58.8) 34.3 9.7 (158.2) Reclassification adjustments to earnings — 1.7 (7.3) 7.8 2.2 Net other comprehensive (loss) income (143.4) (57.1) 27.0 17.5 (156.0) Balance - June 27, 2020 $ (1,660.6) $ (111.3) $ 124.3 $ (393.0) $ (2,040.6) (Millions of Dollars) Currency translation adjustment and other Unrealized (losses) gains on cash flow hedges, net of tax Unrealized gains (losses) on net investment hedges, net of tax Pension (losses) gains, net of tax Total Balance - December 29, 2018 $ (1,481.2) $ (26.8) $ 63.3 $ (369.6) $ (1,814.3) Other comprehensive income (loss) before reclassifications 2.8 (21.2) 21.6 0.8 4.0 Reclassification adjustments to earnings — 3.2 (12.7) 5.8 (3.7) Net other comprehensive income (loss) 2.8 (18.0) 8.9 6.6 0.3 Balance - June 29, 2019 $ (1,478.4) $ (44.8) $ 72.2 $ (363.0) $ (1,814.0)
Reclassifications out of accumulated other comprehensive loss	The reclassifications out of accumulated other comprehensive loss for the six months ended June 27, 2020 and June 29, 2019 were as follows: (Millions of Dollars) 2020 2019 Affected line item in Consolidated Statements of Operations And Comprehensive Income Realized gains on cash flow hedges $ 6.6 $ 2.5 Cost of sales Realized losses on cash flow hedges (9.2) (8.1) Interest expense Total before taxes $ (2.6) $ (5.6) Tax effect 0.9 2.4 Income taxes Realized losses on cash flow hedges, net of tax $ (1.7) $ (3.2) Realized gains on net investment hedges $ 9.6 $ 16.8 Other, net Tax effect (2.3) (4.1) Income taxes Realized gains on net investment hedges, net of tax $ 7.3 $ 12.7 Amortization of defined benefit pension items: Actuarial losses and prior service costs / credits $ (9.6) $ (7.7) Other, net Tax effect 1.8 1.9 Income taxes Amortization of defined benefit pension items, net of tax $ (7.8) $ (5.8)

NET PERIODIC BENEFIT COST - D_2

NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 27, 2020
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Following are the components of net periodic pension (benefit) expense for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Pension Benefits Other Benefits U.S. Plans Non-U.S. Plans All Plans (Millions of Dollars) 2020 2019 2020 2019 2020 2019 Service cost $ 1.7 $ 3.2 $ 3.9 $ 3.7 $ 0.2 $ — Interest cost 8.9 11.7 5.4 7.6 0.4 0.4 Expected return on plan assets (14.7) (15.5) (9.9) (11.4) — — Amortization of prior service cost (credit) 0.2 0.3 (0.2) (0.2) (0.4) (0.4) Amortization of net loss 2.2 2.0 2.8 2.2 0.1 — Special termination benefit — — — — 16.0 — Settlement / curtailment loss — — 0.2 0.1 — — Net periodic pension (benefit) expense $ (1.7) $ 1.7 $ 2.2 $ 2.0 $ 16.3 $ — Year-to-Date Pension Benefits Other Benefits U.S. Plans Non-U.S. Plans All Plans (Millions of Dollars) 2020 2019 2020 2019 2020 2019 Service cost $ 3.4 $ 6.2 $ 7.9 $ 7.4 $ 0.3 $ 0.1 Interest cost 17.7 23.5 11.0 15.3 0.8 0.8 Expected return on plan assets (29.4) (30.9) (20.2) (23.0) — — Amortization of prior service cost (credit) 0.5 0.5 (0.4) (0.4) (0.7) (0.7) Amortization of net loss (gain) 4.3 4.0 5.7 4.4 0.2 (0.1) Special termination benefit — — — — 16.0 — Settlement / curtailment loss — — 0.3 0.2 — — Net periodic pension (benefit) expense $ (3.5) $ 3.3 $ 4.3 $ 3.9 $ 16.6 $ 0.1

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 27, 2020
Fair Value Disclosures [Abstract]
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 1 Level 2 Level 3 June 27, 2020 Money market fund $ 2.5 $ 2.5 $ — $ — Derivative assets $ 21.0 $ — $ 21.0 $ — Derivative liabilities $ 126.8 $ — $ 126.8 $ — Non-derivative hedging instrument $ 299.7 $ — $ 299.7 $ — Contingent consideration liabilities $ 331.3 $ — $ — $ 331.3 December 28, 2019 Money market fund $ 1.2 $ 1.2 $ — $ — Derivative assets $ 29.3 $ — $ 29.3 $ — Derivative liabilities $ 65.5 $ — $ 65.5 $ — Non-derivative hedging instrument $ 335.5 $ — $ 335.5 $ — Contingent consideration liability $ 196.1 $ — $ — $ 196.1
Summary of Financial Instruments Carrying and Fair Values	The following table provides information about the Company's financial assets and liabilities not carried at fair value: June 27, 2020 December 28, 2019 (Millions of Dollars) Carrying Fair Carrying Fair Other investments $ 13.3 $ 13.8 $ 14.4 $ 14.8 Long-term debt, including current portion $ 4,661.8 $ 5,329.5 $ 3,179.5 $ 3,601.0

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	6 Months Ended
	Jun. 27, 2020
Restructuring and Related Activities [Abstract]
Summary of Restructuring Reserve Activity	A summary of the restructuring reserve activity from December 28, 2019 to June 27, 2020 is as follows: (Millions of Dollars) December 28, Net Additions Usage Currency June 27, Severance and related costs $ 140.3 $ 28.9 $ (55.3) $ 0.5 $ 114.4 Facility closures and asset impairments 7.5 2.9 (8.3) — 2.1 Total $ 147.8 $ 31.8 $ (63.6) $ 0.5 $ 116.5

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jun. 27, 2020
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 NET SALES Tools & Storage $ 2,197.2 $ 2,626.0 $ 4,268.0 $ 4,918.3 Industrial 517.5 649.9 1,108.2 1,204.9 Security 432.7 485.4 900.6 971.7 Total $ 3,147.4 $ 3,761.3 $ 6,276.8 $ 7,094.9 SEGMENT PROFIT Tools & Storage $ 345.1 $ 440.0 $ 579.9 $ 705.8 Industrial 5.1 95.1 72.9 166.1 Security 9.2 38.0 30.1 77.5 Segment profit 359.4 573.1 682.9 949.4 Corporate overhead (78.7) (55.6) (127.6) (105.2) Other, net (86.9) (62.2) (161.8) (127.6) Gain on sale of business — 17.2 — 17.2 Restructuring charges (27.9) (8.5) (31.8) (17.2) Interest expense (57.3) (72.4) (117.0) (146.8) Interest income 2.5 12.1 12.6 28.7 Earnings before income taxes and equity interest $ 111.1 $ 403.7 $ 257.3 $ 598.5
Business Segments	The following table provides the percent of total segment revenue recognized over time for the Industrial and Security segments for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date 2020 2019 2020 2019 Industrial 11.5 % 9.6 % 11.0 % 10.0 % Security 50.6 % 44.9 % 48.7 % 45.2 % The following table is a further disaggregation of the Industrial segment revenue for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 Engineered Fastening $ 351.7 $ 441.9 $ 776.4 $ 876.2 Infrastructure 165.8 208.0 331.8 328.7 Industrial $ 517.5 $ 649.9 $ 1,108.2 $ 1,204.9
Summary of Total Assets by Segment	The following table is a summary of total assets by segment as of June 27, 2020 and December 28, 2019: (Millions of Dollars) June 27, 2020 December 28, 2019 Tools & Storage $ 14,063.9 $ 13,642.4 Industrial 5,657.1 4,207.0 Security 3,357.6 3,448.6 23,078.6 21,298.0 Corporate assets (94.2) (701.4) Consolidated $ 22,984.4 $ 20,596.6
Summary of Net Sales by Geographic Area	The following table is a summary of net sales by geographic area for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 United States $ 2,004.0 $ 2,216.7 $ 3,846.0 $ 4,108.5 Canada 135.8 160.9 285.7 304.8 Other Americas 90.5 184.0 220.2 349.0 France 105.8 152.6 240.6 306.2 Other Europe 582.1 754.8 1,231.2 1,454.6 Asia 229.2 292.3 453.1 571.8 Consolidated $ 3,147.4 $ 3,761.3 $ 6,276.8 $ 7,094.9

COMMITMENTS AND GUARANTEES (Tab

COMMITMENTS AND GUARANTEES (Tables)	6 Months Ended
	Jun. 27, 2020
Commitments and Guarantees [Abstract]
Lease cost	The following is a summary of the Company's total lease cost for the three and six months ended June 27, 2020 and June 29, 2019: Second Quarter Year-to-Date (Millions of Dollars) 2020 2019 2020 2019 Operating lease cost $ 37.3 $ 38.7 $ 74.9 $ 76.3 Short-term lease cost 6.0 6.6 12.8 13.4 Variable lease cost 1.8 2.2 3.8 4.3 Sublease income (0.2) (0.9) (0.4) (1.5) Total lease cost $ 44.9 $ 46.6 $ 91.1 $ 92.5
Operating lease maturity schedule	The following is a summary of the Company's future lease obligations on an undiscounted basis at June 27, 2020: (Millions of Dollars) Total 2020 2021 2022 2023 2024 Thereafter Lease obligations $ 581.9 $ 73.7 $ 124.2 $ 92.2 $ 66.4 $ 56.2 $ 169.2
Financial Guarantees	The Company’s financial guarantees at June 27, 2020 are as follows: (Millions of Dollars) Term Maximum Carrying Guarantees on the residual values of leased assets One to four years $ 101.9 $ — Standby letters of credit Up to three years 162.3 — Commercial customer financing arrangements Up to six years 64.7 6.9 Total $ 328.9 $ 6.9
Changes in Carrying Amount of Product and Service Warranties	The changes in the carrying amount of product warranties for the six months ended June 27, 2020 and June 29, 2019 are as follows: (Millions of Dollars) 2020 2019 Balance beginning of period $ 100.1 $ 102.1 Warranties and guarantees issued 58.5 62.4 Warranty payments and currency (57.0) (61.3) Balance end of period $ 101.6 $ 103.2

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES - Basis of Presentation (Details)	Jan. 31, 2019
MTD
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Option to purchase additional ownership in equity method investment, as a percent	80.00%

NEW ACCOUNTING STANDARDS (Detai

NEW ACCOUNTING STANDARDS (Details) - USD ($) $ in Millions	Mar. 28, 2020	Jan. 01, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle		$ (3.8)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle		$ (3.8)
Accounting Standards Update 2016-13 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle	$ 3.8

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of Net Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Numerator (in millions):
Net Earnings Attributable to Common Shareowners	$ 233.7	$ 356.3	$ 366.9	$ 526.2
Denominator (in thousands):
Basic weighted-average shares outstanding (in shares)	153,330	148,099	152,011	147,982
Dilutive effect of stock contracts and awards (in shares)	824	2,259	1,279	2,157
Diluted weighted-average shares outstanding (in shares)	154,154	150,358	153,290	150,139
Earnings per share of common stock:
Basic (in shares)	$ 1.52	$ 2.41	$ 2.41	$ 3.56
Diluted (in shares)	$ 1.52	$ 2.37	$ 2.39	$ 3.50
Number of stock options (in shares)	3,837	2,274	3,390	2,300

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - USD ($)	May 15, 2020	May 11, 2017	May 31, 2020	Nov. 30, 2019	May 31, 2017	Jun. 27, 2020	Dec. 28, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity units issued (in shares)				7,500,000
Notional value of equity				$ 750,000,000
Shares of convertible preferred stock (in shares)						1,500,000	1,500,000
Preferred stock conversion rate number of common stock shares (in shares)				$ 5.2263		$ 5.2263
Option indexed to issuer's equity, strike price (in dollars per share)				$ 191.34		191.34
Series C Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares of convertible preferred stock (in shares)					750,000
2017 Equity Units and Capped call Transactions
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares of convertible preferred stock (in shares)					750,000
Preferred stock conversion rate number of common stock shares (in shares)			$ 6.7352			6.7411
Option indexed to issuer's equity, strike price (in dollars per share)						$ 148.34
Proceeds from issuance or sale of equity			$ 750,000,000		$ 726,000,000
Preferred stock, liquidation preference (in dollars per share)	$ 1,000				$ 1,000
Preferred dividend rate (in dollars per share)	$ 50
2017 Equity Units and Capped call Transactions | Minimum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Option indexed to issuer's equity, strike price (in dollars per share)			$ 148.47
2017 Equity Units and Capped call Transactions | Series C Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity units issued (in shares)					7,500,000
Notional value of equity					$ 750,000,000
Preferred stock conversion rate number of common stock shares (in shares)		$ 6.1627
Proceeds from issuance or sale of equity			$ 750,000,000
Common shares issued (in shares)			5,463,750
Dividend rate of preferred stock as a percentage	5.00%				0.00%
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Preferred dividend rate (in dollars per share)	$ 50
2017 Equity Units and Capped call Transactions | Series C Preferred Stock | Minimum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Option indexed to issuer's equity, strike price (in dollars per share)		$ 162.27

ACCOUNTS AND NOTES RECEIVABLE_3

ACCOUNTS AND NOTES RECEIVABLE, NET - Schedule of Accounts Receivable (Details) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 28, 2019
Receivables [Abstract]
Trade accounts receivable	$ 1,573.9	$ 1,284
Trade notes receivable	133.9	156.7
Other accounts receivable	148.1	126.3
Gross accounts and notes receivable	1,855.9	1,567
Allowance for credit losses	(136.5)	(112.4)
Accounts and notes receivable, net	$ 1,719.4	$ 1,454.6

ACCOUNTS AND NOTES RECEIVABLE_4

ACCOUNTS AND NOTES RECEIVABLE, NET - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Dec. 28, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade notes receivable	$ 133.9		$ 133.9		$ 156.7
Cash investment purchaser allowed to have in transferors receivables	110		110
Net receivables derecognized	25.6		25.6		100
Proceeds from transfers of receivables to the purchaser	28.9	$ 129	78	$ 222.5
Payment to the purchaser	58.3	75.9	152.4	243.6
Pre-tax loss on program	0.3	0.6	1	2
Deferred revenue	205.7		205.7		209.8
Deferred revenue classified as current	110.4		110.4		108.9
Deferred revenue recognized			70.8	65.9
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment to the purchaser, servicing fees	0.1	$ 0.2	0.3	$ 0.5
Other Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long-term receivables, net	135		135		$ 146.1
Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade notes receivable	$ 75.8		$ 75.8

ACCOUNTS AND NOTES RECEIVABLE_5

ACCOUNTS AND NOTES RECEIVABLE, NET - Schedule of Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts receivable, allowance for credit loss, beginning balance	$ 121.7		$ 112.4
Allowance for doubtful accounts, charged to costs and expenses	19	$ 6.1	29.7	$ 24.4
Allowance for doubtful accounts, charged to other accounts	0.1		(2.9)
Allowance for doubtful accounts, deductions	(4.3)		(6.5)
Accounts receivable, allowance for credit loss, ending balance	136.5		136.5
Cumulative Effect Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts receivable, allowance for credit loss, beginning balance	0		3.8
Cost of sales
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts, charged to costs and expenses	19		29.7
Accounts receivable
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts receivable, allowance for credit loss, beginning balance	108.1		99.3
Allowance for doubtful accounts, charged to other accounts	0		(2.8)
Allowance for doubtful accounts, deductions	(4.2)		(6.2)
Accounts receivable, allowance for credit loss, ending balance	122.9		122.9
Accounts receivable | Cumulative Effect Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts receivable, allowance for credit loss, beginning balance	0		2.9
Accounts receivable | Cost of sales
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts, charged to costs and expenses	19		29.7
Notes receivable
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts receivable, allowance for credit loss, beginning balance	13.6		13.1
Allowance for doubtful accounts, charged to other accounts	0.1		(0.1)
Allowance for doubtful accounts, deductions	(0.1)		(0.3)
Accounts receivable, allowance for credit loss, ending balance	13.6		13.6
Notes receivable | Cumulative Effect Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts receivable, allowance for credit loss, beginning balance	0		0.9
Notes receivable | Cost of sales
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts, charged to costs and expenses	$ 0		$ 0

ACCOUNTS AND NOTES RECEIVABLE_6

ACCOUNTS AND NOTES RECEIVABLE, NET - Schedule of Expected Timing of Receipt of Customer Payments (Details) $ in Millions	Jun. 27, 2020USD ($)
Receivables [Abstract]
Financing receivables	$ 198.8
Within 1 Year	75.8
2 Years	55.1
3 Years	36.1
4 Years	19.4
5 Years	8.6
Thereafter	3.8
Operating leases	50.3
Within 1 Year	48.2
2 Years	1.3
3 Years	0.5
4 Years	0.2
5 Years	0.1
Thereafter	$ 0

ACCOUNTS AND NOTES RECEIVABLE_7

ACCOUNTS AND NOTES RECEIVABLE, NET - Schedule of lease revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Receivables [Abstract]
Sales-type lease revenue	$ 30.8	$ 19.6	$ 53.8	$ 41.5
Lease interest revenue	3	3.3	6.1	6.5
Total lease revenue	35.2	37.2	71.5	73.9
Sales-type lease profit	69	60.1	131.4	121.9
Sales-type lease profit	$ 12.3	$ 7.8	$ 21.4	$ 16.5

ACCOUNTS AND NOTES RECEIVABLE_8

ACCOUNTS AND NOTES RECEIVABLE, NET - Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-28 $ in Millions	Jun. 27, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned premium revenue	$ 1,108
Remaining performance obligation period	5 years

INVENTORIES - Components of Inv

INVENTORIES - Components of Inventories (Detail) - USD ($) $ in Millions	Jun. 27, 2020	Feb. 24, 2020	Dec. 28, 2019
Schedule of Inventory [Line Items]
Finished products	$ 1,889.7		$ 1,526
Work in process	227.9		162
Raw materials	635.8		567
Total	$ 2,753.4		$ 2,255
Consolidated Aerospace Manufacturing (CAM)
Schedule of Inventory [Line Items]
Inventory acquired in business acquisition		$ 127.6

ACQUISITIONS AND INVESTMENTS -

ACQUISITIONS AND INVESTMENTS - Additional Information (Detail)	Feb. 24, 2020USD ($)	Mar. 08, 2019USD ($)	Jan. 02, 2019USD ($)	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Dec. 28, 2019USD ($)site	Feb. 29, 2020USD ($)
Business Acquisition [Line Items]
Purchase price for acquisitions net of cash acquired				$ (400,000)	$ (200,000)	$ 1,302,000,000	$ 676,000,000
Goodwill				9,805,200,000		9,805,200,000		$ 9,237,500,000
Net sales				65,300,000		98,400,000
Net loss attributable to common shareowners				(30,600,000)		(51,400,000)
Consolidated				3,147,400,000	$ 3,761,300,000	6,276,800,000	$ 7,094,900,000
MTD
Business Acquisition [Line Items]
Ownership percentage			20.00%
Cash paid for equity method investment			$ 234,000,000
Option to purchase additional ownership in equity method investment, as a percent			80.00%
Consolidated								2,400,000,000
Consolidated Aerospace Manufacturing (CAM)
Business Acquisition [Line Items]
Estimated purchase price	$ 1,460,000,000
Purchase price for acquisitions net of cash acquired	1,300,000,000
Contingent consideration	200,000,000
Fair value of contingent consideration at date of acquisition	$ 155,300,000			$ 155,300,000		$ 155,300,000
Weighted average useful life of intangible assets	20 years
Estimate of tax deductible goodwill	$ 619,500,000
Deferred tax liabilities	19,400,000
Estimated acquisition date value	870,200,000
Goodwill	$ 621,500,000
Equipment Solution Attachments Group (IES)
Business Acquisition [Line Items]
Purchase price for acquisitions net of cash acquired		$ 653,500,000
Weighted average useful life of intangible assets		14 years
Estimate of tax deductible goodwill		$ 2,400,000
Working capital		77,800,000
Deferred tax liabilities		78,300,000
Intangible assets		328,000,000
Estimated acquisition date value		342,200,000
Goodwill		311,300,000
Finite-lived intangible assets		$ 304,000,000
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Purchase price for acquisitions net of cash acquired								40,800,000
Working capital								5,900,000
Estimated acquisition date value								19,000,000
Goodwill								21,800,000
Finite-lived intangible assets								$ 8,800,000
Number of businesses acquired | site								5
Minimum | Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Weighted average useful life of intangible assets								8 years
Maximum | Consolidated Aerospace Manufacturing (CAM)
Business Acquisition [Line Items]
Fair value of contingent consideration at date of acquisition									$ 200,000,000
Maximum | Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Weighted average useful life of intangible assets								10 years

ACQUISITIONS AND INVESTMENTS _2

ACQUISITIONS AND INVESTMENTS - Estimated Fair Values of Major Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Feb. 24, 2020	Jun. 27, 2020	Dec. 28, 2019
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items]
Goodwill		$ 9,805.2	$ 9,237.5
Consolidated Aerospace Manufacturing (CAM)
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items]
Cash and cash equivalents	$ 35.9
Accounts receivable, net	48.6
Inventories, net	127.6
Prepaid expenses and other assets	2.7
Property, plant and equipment	132.6
Accounts payable	(26.3)
Accrued expenses	(20.9)
Deferred taxes	(19.4)
Other liabilities	(0.6)
Total identifiable net assets	870.2
Goodwill	621.5
Contingent consideration	(155.3)	$ (155.3)
Total consideration paid	1,336.4
Trade Names | Consolidated Aerospace Manufacturing (CAM)
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items]
Intangible assets	25
Customer Relationships | Consolidated Aerospace Manufacturing (CAM)
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items]
Intangible assets	$ 565

ACQUISITIONS AND INVESTMENTS _3

ACQUISITIONS AND INVESTMENTS - Actual impact from Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 27, 2020	Jun. 27, 2020
Business Combinations [Abstract]
Net sales	$ 65.3	$ 98.4
Net loss attributable to common shareowners	$ (30.6)	$ (51.4)

ACQUISITIONS AND INVESTMENTS _4

ACQUISITIONS AND INVESTMENTS - Supplemental Pro Forma Information Related to Business Acquisitions (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Business Combinations [Abstract]
Net sales	$ 3,147.4	$ 3,854.5	$ 6,322.8	$ 7,357.4
Net earnings attributable to common shareowners	$ 251.3	$ 350.3	$ 399.2	$ 504.9
Diluted earnings per share	$ 1.63	$ 2.33	$ 2.60	$ 3.36

GOODWILL - Changes in Carrying

GOODWILL - Changes in Carrying Amount of Goodwill by Segment (Detail) $ in Millions	6 Months Ended
	Jun. 27, 2020USD ($)
Goodwill [Roll Forward]
Goodwill beginning balance	$ 9,237.5
Acquisitions	624.1
Foreign currency translation	(56.4)
Goodwill ending balance	9,805.2
Tools & Storage
Goodwill [Roll Forward]
Goodwill beginning balance	5,161.8
Acquisitions	0
Foreign currency translation	(44.7)
Goodwill ending balance	5,117.1
Industrial
Goodwill [Roll Forward]
Goodwill beginning balance	1,995.5
Acquisitions	624
Foreign currency translation	3.1
Goodwill ending balance	2,622.6
Security
Goodwill [Roll Forward]
Goodwill beginning balance	2,080.2
Acquisitions	0.1
Foreign currency translation	(14.8)
Goodwill ending balance	$ 2,065.5

LONG-TERM DEBT AND FINANCING _3

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Schedule of Long-term Debt (Detail) - USD ($)	6 Months Ended
	Jun. 27, 2020	Feb. 29, 2020	Dec. 28, 2019
Debt Instrument [Line Items]
Original Notional	$ 4,704,300,000
Unamortized Discount	(4,300,000)
Unamortized Gain/(Loss) Terminated Swaps	(16,000,000)
Purchase Accounting FV Adjustment	8,500,000
Deferred Financing Fees	(30,700,000)
Carrying Value	4,661,800,000		$ 3,179,500,000
Less: Current maturities of long-term debt	(3,100,000)		(3,100,000)
Long-term debt	$ 4,658,700,000		3,176,400,000
Notes payable due 2021
Debt Instrument [Line Items]
Interest Rate	3.40%
Original Notional	$ 400,000,000
Unamortized Discount	(100,000)
Unamortized Gain/(Loss) Terminated Swaps	5,000,000
Deferred Financing Fees	(400,000)
Carrying Value	$ 404,500,000		406,000,000
Notes payable due 2022
Debt Instrument [Line Items]
Interest Rate	2.90%
Original Notional	$ 754,300,000
Unamortized Discount	(200,000)
Deferred Financing Fees	(1,400,000)
Carrying Value	$ 752,700,000		752,300,000
Notes payable due 2026
Debt Instrument [Line Items]
Interest Rate	3.40%
Original Notional	$ 500,000,000
Unamortized Discount	(600,000)
Deferred Financing Fees	(2,600,000)
Carrying Value	$ 496,800,000		496,500,000
Notes payable due 2028
Debt Instrument [Line Items]
Interest Rate	7.05%
Original Notional	$ 150,000,000
Unamortized Discount	0
Unamortized Gain/(Loss) Terminated Swaps	8,700,000
Purchase Accounting FV Adjustment	8,500,000
Deferred Financing Fees	0
Carrying Value	$ 167,200,000		168,300,000
Notes payable due 2028
Debt Instrument [Line Items]
Interest Rate	4.25%
Original Notional	$ 500,000,000
Unamortized Discount	(300,000)
Deferred Financing Fees	(3,700,000)
Carrying Value	$ 496,000,000		495,800,000
Notes payable due 2040
Debt Instrument [Line Items]
Interest Rate	5.20%
Original Notional	$ 400,000,000
Unamortized Discount	(200,000)
Unamortized Gain/(Loss) Terminated Swaps	(29,700,000)
Deferred Financing Fees	(2,800,000)
Carrying Value	$ 367,300,000		366,500,000
Notes payable due 2048
Debt Instrument [Line Items]
Interest Rate	4.85%
Original Notional	$ 500,000,000
Unamortized Discount	(500,000)
Deferred Financing Fees	(5,300,000)
Carrying Value	$ 494,200,000		494,100,000
Senior Notes | Notes payable due 2030
Debt Instrument [Line Items]
Interest Rate	2.30%	2.30%
Original Notional	$ 750,000,000	$ 750,000,000
Unamortized Discount	(2,400,000)
Deferred Financing Fees	(5,100,000)
Carrying Value	$ 742,500,000		0
Junior Subordinated Debt | Notes payable due 2060 (junior subordinated)
Debt Instrument [Line Items]
Interest Rate	4.00%	4.00%
Original Notional	$ 750,000,000	$ 750,000,000
Unamortized Discount	0
Deferred Financing Fees	(9,400,000)
Carrying Value	$ 740,600,000		$ 0

LONG-TERM DEBT AND FINANCING _4

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Additional Information (Detail)	Feb. 29, 2020USD ($)	Feb. 29, 2020USD ($)	Jun. 27, 2020USD ($)	Apr. 30, 2020	Dec. 28, 2019USD ($)
Debt Instrument [Line Items]
Face amount of debt			$ 4,704,300,000
Maximum borrowing capacity			3,000,000,000
Outstanding commercial paper			697,700,000
Amount outstanding			$ 0		$ 0
Interest coverage ratio			3.5	2.5
Commercial Paper
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 3,000,000,000
Euro Member Countries, Euro
Debt Instrument [Line Items]
Outstanding commercial paper					$ 335,500,000
Euro Member Countries, Euro | Commercial Paper
Debt Instrument [Line Items]
Amount of hedged item			$ 299,700,000
Notes Due In 2030 and 2060
Debt Instrument [Line Items]
Net proceeds from offering		$ 1,483,000,000
Notes Due In 2030 and 2060 | Five-Year Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.657%
5 Year Credit Facility
Debt Instrument [Line Items]
Long-term debt, term			5 years	5 years
Five-year commercial credit facility			$ 2,000,000,000
Committed Credit Facility
Debt Instrument [Line Items]
Amount of credit facility foreign currency sublimit			$ 653,300,000
2018 Credit Agreement
Debt Instrument [Line Items]
Long-term debt, term			364 days	364 days
Maximum borrowing capacity			$ 1,000,000,000
Senior Notes | Notes payable due 2030
Debt Instrument [Line Items]
Face amount of debt	$ 750,000,000	$ 750,000,000	$ 750,000,000
Interest rate	2.30%	2.30%	2.30%
Junior Subordinated Debt | Notes payable due 2060 (junior subordinated)
Debt Instrument [Line Items]
Face amount of debt	$ 750,000,000	$ 750,000,000	$ 750,000,000
Interest rate	4.00%	4.00%	4.00%
Interest rate reset period	5 years
Percentage junior subordinated debt can be called	100.00%

FINANCIAL INSTRUMENTS - Summary

FINANCIAL INSTRUMENTS - Summary of Fair Value of Derivatives (Detail) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 28, 2019
Derivatives, Fair Value [Line Items]
Derivative assets	$ 21	$ 29.3
Derivative liabilities	426.5	401
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets	14.5	25.6
Derivative liabilities	418.6	394.9
Designated as Hedging Instrument | Cash Flow Hedges | Interest Rate Contracts | LT other assets
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Designated as Hedging Instrument | Cash Flow Hedges | Interest Rate Contracts | LT other liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	114	40.5
Designated as Hedging Instrument | Cash Flow Hedges | Foreign Exchange Contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	5.8	7
Designated as Hedging Instrument | Cash Flow Hedges | Foreign Exchange Contracts | Accrued expenses
Derivatives, Fair Value [Line Items]
Derivative liabilities	0.5	7.8
Designated as Hedging Instrument | Net Investment Hedging | LT other assets
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Designated as Hedging Instrument | Net Investment Hedging | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	8.7	18.6
Designated as Hedging Instrument | Net Investment Hedging | LT other liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	1.5	2.6
Designated as Hedging Instrument | Net Investment Hedging | Accrued expenses
Derivatives, Fair Value [Line Items]
Derivative liabilities	2.9	8.5
Designated as Hedging Instrument | Net Investment Hedging | Short-term borrowings
Derivatives, Fair Value [Line Items]
Derivative liabilities	299.7	335.5
Designated as Hedging Instrument | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	6.5	3.7
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Accrued expenses
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 7.9	$ 6.1

FINANCIAL INSTRUMENTS - Additio

FINANCIAL INSTRUMENTS - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2019	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Dec. 28, 2019	Jul. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Proceeds from derivative instruments				$ 38,600,000	$ 22,300,000
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
After-tax mark-to-market losses		$ 111,300,000		111,300,000		$ 54,200,000
After tax loss to be reclassified to earnings				2,900,000
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (4,600,000)	300,000	$ 1,100,000	1,700,000	3,200,000
Foreign Exchange Contracts | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Proceeds from derivative instruments				41,000,000	$ 3,900,000
Derivatives used in net investment hedge				124,300,000
Interest Rate Swap | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		400,000,000		400,000,000		400,000,000
Interest Rate Swap | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives used in net investment hedge						97,300,000
Forward Interest Rate Swap One | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net				20,500,000
Derivative notional amount		1,000,000,000		1,000,000,000
Foreign Exchange Forward | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		185,600,000		185,600,000		518,200,000
Cross Currency Swap | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		826,100,000		826,100,000		1,100,000,000
Designated as Hedging Instrument | Foreign Exchange Forward | Subsequent Event
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount							$ 125,000,000
Not Designated as Hedging Instrument | Forward Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		958,900,000		958,900,000		946,800,000
United Kingdom, Pounds | Foreign Exchange Contracts | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount						$ 335,500,000
Short-term borrowings | Designated as Hedging Instrument | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Hedging liabilities		$ 299,700,000		$ 299,700,000

FINANCIAL INSTRUMENTS - Derivat

FINANCIAL INSTRUMENTS - Derivatives Designated as Cash Flow Hedges in AOCI (Detail) - Cash Flow Hedges - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2019	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from OCI into Income	$ 4.6	$ (0.3)	$ (1.1)	$ (1.7)	$ (3.2)
Interest Rate Contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recorded in OCI		4.9	(17.5)	(94)	(28.4)
Gain (loss) reclassified from OCI into Income		(4.7)	(4.1)	(9.2)	(8.1)
Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing		0		0
Foreign Exchange Contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from OCI into Income		0	0	0	0
Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing			0		0
Foreign Exchange Contracts | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recorded in OCI		(4.9)	(2.5)	15.4	4.5
Gain (loss) reclassified from OCI into Income		4.3	2.7	6.6	2.5
Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing		$ 0	$ 0	$ 0	$ 0

FINANCIAL INSTRUMENTS - Pretax

FINANCIAL INSTRUMENTS - Pretax Effect of Cash Flow Hedge Accounting (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2019	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Derivative [Line Items]
Cost of sales		$ 2,134.7	$ 2,461.5	$ 4,241	$ 4,689.5
Interest expense		57.3	72.4	117	146.8
Cash Flow Hedges
Derivative [Line Items]
Gain (loss) reclassified from OCI into Income	$ 4.6	(0.3)	(1.1)	(1.7)	(3.2)
Cost of sales | Cash Flow Hedges | Foreign Exchange Contracts
Derivative [Line Items]
Hedged Items		(4.3)	(2.7)	(6.6)	(2.5)
Gain (loss) reclassified from OCI into Income		4.3	2.7	6.6	2.5
Cost of sales | Cash Flow Hedges | Interest Rate Swap
Derivative [Line Items]
Gain (loss) reclassified from OCI into Income		0	0	0	0
Interest expense | Cash Flow Hedges | Foreign Exchange Contracts
Derivative [Line Items]
Hedged Items		0	0	0	0
Gain (loss) reclassified from OCI into Income		0	0	0	0
Interest expense | Cash Flow Hedges | Interest Rate Contracts
Derivative [Line Items]
Gain (loss) reclassified from OCI into Income		(4.7)	(4.1)	(9.2)	(8.1)
Interest expense | Cash Flow Hedges | Interest Rate Swap
Derivative [Line Items]
Gain (loss) reclassified from OCI into Income		$ (4.7)	$ (4.1)	$ (9.2)	$ (8.1)

FINANCIAL INSTRUMENTS - Preta_2

FINANCIAL INSTRUMENTS - Pretax Effect of Fair Value Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the fair value hedges are recorded	$ 57.3	$ 72.4	$ 117	$ 146.8
Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amortization of gain on terminated swaps	$ (0.8)	$ (0.7)	$ (1.6)	$ (6.1)

FINANCIAL INSTRUMENTS - Fair Va

FINANCIAL INSTRUMENTS - Fair Value Adjustments Relating to Swaps (Detail) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 28, 2019
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Current maturities of long-term debt	$ 3.1	$ 3.1
Long-term debt	4,658.7	3,176.4
Terminated Swaps	(16)
Other Current Liabilities | Designated as Hedging Instrument | Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Terminated Swaps	3.1	3.1
Long-term Debt | Designated as Hedging Instrument | Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Terminated Swaps	$ (19)	$ (17.5)

FINANCIAL INSTRUMENTS - Details

FINANCIAL INSTRUMENTS - Details of Foreign Exchange Contracts Pre-Tax Amounts (Detail) - Other, net - Net Investment Hedging - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Gain (loss) reclassified from OCI into Income	$ 0	$ 0	$ 0	$ 0
Excluded Component Amortized from OCI to Income	0	0	0	0
Forward Contracts
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Total Gain (Loss) Recorded in OCI	0.2	7.4	0.1	6.2
Excluded Component Recorded in OCI	0	0	0	4.2
Gain (loss) reclassified from OCI into Income	0	1.3	0	2.3
Excluded Component Amortized from OCI to Income	0	1.3	0	2.3
Cross Currency Swap
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Total Gain (Loss) Recorded in OCI	(0.7)	(2.4)	41.3	23.5
Excluded Component Recorded in OCI	16.1	10.6	34.9	24
Gain (loss) reclassified from OCI into Income	4.2	6.8	9.6	14.5
Excluded Component Amortized from OCI to Income	4.2	6.8	9.6	14.5
Option Contracts
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Total Gain (Loss) Recorded in OCI	0	(1.1)	0	(2.1)
Excluded Component Recorded in OCI	0	0	0	0
Gain (loss) reclassified from OCI into Income	0	0	0	0
Excluded Component Amortized from OCI to Income	0	0	0	0
Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Total Gain (Loss) Recorded in OCI	(11)	(11.4)	4.6	4.2
Excluded Component Recorded in OCI	$ 0	$ 0	$ 0	$ 0

FINANCIAL INSTRUMENTS - Undesig

FINANCIAL INSTRUMENTS - Undesignated Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Not Designated as Hedging Instrument | Other Income and Expense | Foreign Exchange Contracts
Derivative [Line Items]
Foreign Exchange Contracts	$ (6)	$ (3.6)	$ 6.4	$ (1.3)

EQUITY ARRANGEMENTS (Detail)

EQUITY ARRANGEMENTS (Detail)

May 15, 2023$ / shares

Jun. 09, 2020$ / shares

May 15, 2020$ / shares

May 17, 2017USD ($)

May 11, 2017USD ($)counterparty$ / sharesshares

May 31, 2020USD ($)$ / sharesshares

Feb. 29, 2020$ / sharesshares

Nov. 30, 2019USD ($)$ / sharesshares

Mar. 31, 2018USD ($)$ / sharesshares

May 31, 2017USD ($)$ / sharesshares

Mar. 31, 2015USD ($)shares

Mar. 28, 2020$ / shares

Jun. 27, 2020USD ($)financial_institution$ / sharesshares

Dec. 28, 2019shares

Nov. 07, 2019$ / shares

Sep. 30, 2017

Stockholders Equity Note [Line Items]

Forward share purchase contract (in shares) | shares

3,645,510

Forward share purchase contract | $

$ 350,000,000

Equity units issued (in shares) | shares

7,500,000

Notional value of equity | $

$ 750,000,000

Term of forward purchase contract

3 years

3 years

Shares of convertible preferred stock (in shares) | shares

1,500,000

1,500,000

Preferred stock conversion rate number of common stock shares (in shares)

$ 5.2263

$ 5.2263

Option indexed to issuer's equity, strike price (in dollars per share)

$ 191.34

191.34

Beneficial ownership rate in one share

10.00%

Series C Preferred Stock

Stockholders Equity Note [Line Items]

Shares of convertible preferred stock (in shares) | shares

750,000

2019 Equity Units and Capped call Transactions

Stockholders Equity Note [Line Items]

Forward share purchase contract (in shares) | shares

4,700,000

Equity units issued (in shares) | shares

7,500,000

Notional value of equity | $

$ 750,000,000

Stated value (in dollars per share)

$ 100

$ 159.45

$ 159.45

Purchase price (in dollars per share)

$ 100

$ 100

Percentage beneficial ownership

10.00%

Preferred stock, liquidation preference (in dollars per share)

$ 1,000

Approximate net proceeds | $

$ 735,000,000

Shares of convertible preferred stock (in shares) | shares

750,000

Preferred stock liquidation preference | $

$ 750,000,000

Proceeds used for capped call transactions | $

$ 19,200,000

Preferred stock conversion rate number of common stock shares (in shares)

$ 5.2263

Option indexed to issuer's equity, strike price (in dollars per share)

$ 191.34

Preferred stock redemption percentage

100.00%

Maximum settlement rate (in shares) | shares

0.6272

0.6272

Present value of contract adjustment payments | $

$ 114,200,000

Shares of stock deliverable on early settlement of contract

85.00%

2019 Equity Units and Capped call Transactions | 2019 Equity Units

Stockholders Equity Note [Line Items]

Dividend rate per annum

5.25%

Accretion of interest expense | $

$ 1,300,000

Present value of contract adjustment payments | $

$ 95,400,000

Forward Contract Indexed To Issuers Equity, Contract Term

3 years

2019 Equity Units and Capped call Transactions | Series D Preferred Stock

Stockholders Equity Note [Line Items]

Dividend rate of preferred stock as a percentage

0.00%

Proceeds used for capped call transactions | $

$ 19,200,000

Preferred stock conversion rate number of common stock shares (in shares)

$ 5.2263

Upper strike percentage above closing price

30.00%

Number of common shares purchased under call option (in shares) | shares

3,900,000

2019 Equity Units and Capped call Transactions | Series D Preferred Stock | 2019 Capped Call

Stockholders Equity Note [Line Items]

Proceeds used for capped call transactions | $

$ 11,800,000

2019 Equity Units and Capped call Transactions | Series D Preferred Stock | Call Option

Stockholders Equity Note [Line Items]

Call option, average price (in dollars per share)

$ 4.90

2019 Equity Units and Capped call Transactions | Series D Preferred Stock | Maximum

Stockholders Equity Note [Line Items]

Option indexed to issuer's equity, strike price (in dollars per share)

$ 207.29

207.29

2019 Equity Units and Capped call Transactions | Series D Preferred Stock | Minimum

Stockholders Equity Note [Line Items]

Option indexed to issuer's equity, strike price (in dollars per share)

191.34

$ 191.34

2019 Equity Units and Capped call Transactions | 2022 Purchase Contract

Stockholders Equity Note [Line Items]

Purchase price (in dollars per share)

$ 100

Proceeds from settlement of forward stock purchases | $

$ 750,000,000

2018 Capped Call Transactions | Common Stock

Stockholders Equity Note [Line Items]

Proceeds used for capped call transactions | $

$ 57,300,000

Option term

3 years

Number of common shares purchased under call option (in shares) | shares

3,200,000

Shares settled (in shares) | shares

600,000

Shares received on settlement (in shares) | shares

61,767

Average reference price (in dollars per share)

$ 162.26

Aggregate fair value of options | $

$ 25,400,000

2018 Capped Call Transactions | Call Option | Common Stock

Stockholders Equity Note [Line Items]

Call option, average price (in dollars per share)

$ 17.96

2018 Capped Call Transactions | Maximum | Common Stock

Stockholders Equity Note [Line Items]

Option indexed to issuer's equity, strike price (in dollars per share)

$ 165

$ 165

2018 Capped Call Transactions | Minimum | Common Stock

Stockholders Equity Note [Line Items]

Option indexed to issuer's equity, strike price (in dollars per share)

148.34

2018 Capped Call Transactions | Series C Preferred Stock

Stockholders Equity Note [Line Items]

Strike price as a percentage of closing stock price

30.00%

2018 Capped Call Transactions | Series C Preferred Stock | Minimum

Stockholders Equity Note [Line Items]

Option indexed to issuer's equity, strike price (in dollars per share)

$ 148.34

2017 Equity Units and Capped call Transactions

Stockholders Equity Note [Line Items]

Stated value (in dollars per share)

$ 100

Purchase price (in dollars per share)

100

Preferred stock, liquidation preference (in dollars per share)

$ 1,000

$ 1,000

Shares of convertible preferred stock (in shares) | shares

750,000

Preferred stock liquidation preference | $

$ 750,000,000

Preferred stock conversion rate number of common stock shares (in shares)

$ 6.7352

6.7411

Option indexed to issuer's equity, strike price (in dollars per share)

$ 148.34

Preferred stock redemption percentage

100.00%

Dividend rate per annum

5.375%

Accretion of interest expense | $

$ 1,300,000

Present value of contract adjustment payments | $

$ 117,100,000

Call option, average price (in dollars per share)

$ 5.43

Number of common shares purchased under call option (in shares) | shares

4,600,000

Proceeds from issuance or sale of equity | $

$ 750,000,000

726,000,000

Proceeds used to enter into capped call transactions | $

$ 25,100,000

Preferred dividend rate (in dollars per share)

$ 50

Maximum settlement rate (in shares) | shares

0.7285

Conversion reference price (in dollars per share)

$ 137.26

2017 Equity Units and Capped call Transactions | Forecast

Stockholders Equity Note [Line Items]

Preferred stock, liquidation preference (in dollars per share)

$ 1,000

Preferred dividend rate (in dollars per share)

$ 100

2017 Equity Units and Capped call Transactions | Call Option

Stockholders Equity Note [Line Items]

Proceeds used to enter into capped call transactions | $

$ 25,100,000

2017 Equity Units and Capped call Transactions | Minimum

Stockholders Equity Note [Line Items]

Option indexed to issuer's equity, strike price (in dollars per share)

$ 148.47

2017 Equity Units and Capped call Transactions | Series C Preferred Stock

Stockholders Equity Note [Line Items]

Equity units issued (in shares) | shares

7,500,000

Notional value of equity | $

$ 750,000,000

Dividend rate of preferred stock as a percentage

5.00%

0.00%

Preferred stock, liquidation preference (in dollars per share)

$ 1,000

Preferred stock conversion rate number of common stock shares (in shares)

$ 6.1627

Number of financial institutions | financial_institution

3

Option term

3 years

Proceeds from issuance or sale of equity | $

$ 750,000,000

Number of counterparties | counterparty

3

Common shares issued (in shares) | shares

5,463,750

Preferred dividend rate (in dollars per share)

$ 50

Strike price as a percentage of closing stock price

30.00%

2017 Equity Units and Capped call Transactions | Series C Preferred Stock | Forecast

Stockholders Equity Note [Line Items]

Dividend rate of preferred stock as a percentage

10.00%

2017 Equity Units and Capped call Transactions | Series C Preferred Stock | Maximum

Stockholders Equity Note [Line Items]

Option indexed to issuer's equity, strike price (in dollars per share)

$ 179.53

2017 Equity Units and Capped call Transactions | Series C Preferred Stock | Minimum

Stockholders Equity Note [Line Items]

Option indexed to issuer's equity, strike price (in dollars per share)

$ 162.27

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 27, 2020	Mar. 28, 2020	Jun. 29, 2019	Mar. 30, 2019	Jun. 27, 2020	Jun. 29, 2019
Accumulated other comprehensive (loss):
Beginning balance	$ 8,959.2	$ 9,142.2	$ 7,936.7	$ 7,839.9	$ 9,142.2	$ 7,839.9
Other comprehensive (loss) income before reclassifications					(158.2)	4
Reclassification adjustments to earnings					2.2	(3.7)
Net other comprehensive (loss) income	102.8	(258.8)	(0.7)	1	(156)	0.3
Ending balance	9,965.6	8,959.2	8,233.3	7,936.7	9,965.6	8,233.3
Currency translation adjustment and other
Accumulated other comprehensive (loss):
Beginning balance		(1,517.2)		(1,481.2)	(1,517.2)	(1,481.2)
Other comprehensive (loss) income before reclassifications					(143.4)	2.8
Reclassification adjustments to earnings					0	0
Net other comprehensive (loss) income					(143.4)	2.8
Ending balance	(1,660.6)		(1,478.4)		(1,660.6)	(1,478.4)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated other comprehensive (loss):
Beginning balance		(54.2)		(26.8)	(54.2)	(26.8)
Other comprehensive (loss) income before reclassifications					(58.8)	(21.2)
Reclassification adjustments to earnings					1.7	3.2
Net other comprehensive (loss) income					(57.1)	(18)
Ending balance	(111.3)		(44.8)		(111.3)	(44.8)
Unrealized gains (losses) on net investment hedges, net of tax
Accumulated other comprehensive (loss):
Beginning balance		97.3		63.3	97.3	63.3
Other comprehensive (loss) income before reclassifications					34.3	21.6
Reclassification adjustments to earnings					(7.3)	(12.7)
Net other comprehensive (loss) income					27	8.9
Ending balance	124.3		72.2		124.3	72.2
Pension (losses) gains, net of tax
Accumulated other comprehensive (loss):
Beginning balance		(410.5)		(369.6)	(410.5)	(369.6)
Other comprehensive (loss) income before reclassifications					9.7	0.8
Reclassification adjustments to earnings					7.8	5.8
Net other comprehensive (loss) income					17.5	6.6
Ending balance	(393)		(363)		(393)	(363)
Accumulated Other Comprehensive Loss
Accumulated other comprehensive (loss):
Beginning balance	(2,143.4)	(1,884.6)	(1,813.3)	(1,814.3)	(1,884.6)	(1,814.3)
Net other comprehensive (loss) income	102.8	(258.8)	(0.7)	1
Ending balance	$ (2,040.6)	$ (2,143.4)	$ (1,814)	$ (1,813.3)	$ (2,040.6)	$ (1,814)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Reclassifications out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 27, 2020	Mar. 28, 2020	Jun. 29, 2019	Mar. 30, 2019	Jun. 27, 2020	Jun. 29, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales	$ 2,134.7		$ 2,461.5		$ 4,241	$ 4,689.5
Interest expense	57.3		72.4		117	146.8
Income taxes	117.3		(51.6)		104.4	(76.3)
Net earnings (loss)	$ 238.7	$ 133.1	$ 357.4	$ 170.4
Reclassification of Accumulated Other Comprehensive Income | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales					6.6	2.5
Interest expense					9.2	8.1
Total before taxes					(2.6)	(5.6)
Income taxes					0.9	2.4
Net earnings (loss)					(1.7)	(3.2)
Reclassification of Accumulated Other Comprehensive Income | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Including Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before taxes					9.6	16.8
Income taxes					(2.3)	(4.1)
Net earnings (loss)					7.3	12.7
Reclassification of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before taxes					(9.6)	(7.7)
Income taxes					1.8	1.9
Net earnings (loss)					$ (7.8)	$ (5.8)

NET PERIODIC BENEFIT COST - D_3

NET PERIODIC BENEFIT COST - DEFINED BENEFIT PLANS - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Pension Benefits | U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1.7	$ 3.2	$ 3.4	$ 6.2
Interest cost	8.9	11.7	17.7	23.5
Expected return on plan assets	(14.7)	(15.5)	(29.4)	(30.9)
Amortization of prior service cost (credit)	0.2	0.3	0.5	0.5
Amortization of net loss (gain)	2.2	2	4.3	4
Settlement / curtailment loss	0	0	0	0
Net periodic pension (benefit) expense	(1.7)	1.7	(3.5)	3.3
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits	0	0	0	0
Pension Benefits | Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	3.9	3.7	7.9	7.4
Interest cost	5.4	7.6	11	15.3
Expected return on plan assets	(9.9)	(11.4)	(20.2)	(23)
Amortization of prior service cost (credit)	(0.2)	(0.2)	(0.4)	(0.4)
Amortization of net loss (gain)	2.8	2.2	5.7	4.4
Settlement / curtailment loss	0.2	0.1	0.3	0.2
Net periodic pension (benefit) expense	2.2	2	4.3	3.9
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits	0	0	0	0
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.2	0	0.3	0.1
Interest cost	0.4	0.4	0.8	0.8
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	(0.4)	(0.4)	(0.7)	(0.7)
Amortization of net loss (gain)	0.1	0	0.2	(0.1)
Settlement / curtailment loss	0	0	0	0
Net periodic pension (benefit) expense	16.3	0	16.6	0.1
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits	$ 16	$ 0	$ 16	$ 0

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 28, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 21	$ 29.3
Derivative liabilities	426.5	401
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	21	29.3
Non-derivative hedging instrument	299.7
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market fund	2.5	1.2
Derivative assets	21	29.3
Derivative liabilities	126.8	65.5
Non-derivative hedging instrument	299.7	335.5
Contingent consideration liabilities	331.3	196.1
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market fund	2.5	1.2
Derivative assets	0	0
Derivative liabilities	0	0
Non-derivative hedging instrument	0	0
Contingent consideration liabilities	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
Derivative liabilities	126.8	65.5
Non-derivative hedging instrument		335.5
Contingent consideration liabilities	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
Derivative assets	0	0
Derivative liabilities	0	0
Non-derivative hedging instrument	0	0
Contingent consideration liabilities	$ 331.3	$ 196.1

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Carrying and Fair Values (Detail) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 28, 2019
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	$ 13.3	$ 14.4
Long-term debt, including current portion	4,661.8	3,179.5
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	13.8	14.8
Long-term debt, including current portion	$ 5,329.5	$ 3,601

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional information (Details)	3 Months Ended		6 Months Ended
	Jun. 27, 2020USD ($)quarter	Jun. 29, 2019USD ($)	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Feb. 29, 2020USD ($)	Feb. 24, 2020USD ($)	Dec. 28, 2019USD ($)	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment for contingent consideration	$ 33,000,000	$ 0	$ 33,000,000	$ 0
Number of quarters | quarter	12
Change in fair value due to change in discount rate	$ 8,600,000		8,600,000
Consolidated Aerospace Manufacturing (CAM)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Obligation to make future payments	155,300,000		155,300,000			$ 155,300,000
Consolidated Aerospace Manufacturing (CAM) | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Obligation to make future payments					$ 200,000,000
Craftsman
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liabilities	$ 176,000,000		$ 176,000,000				$ 196,100,000
Craftsman | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of sales								2.50%
Craftsman | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of sales								3.50%

OTHER COSTS AND EXPENSES - Addi

OTHER COSTS AND EXPENSES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Restructuring Cost and Reserve [Line Items]
Acquisition related transaction and consulting costs	$ 19.8	$ 4.5	$ 38.7	$ 20.6
COVID-19
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 110

RESTRUCTURING CHARGES - Summary

RESTRUCTURING CHARGES - Summary of Restructuring Reserve Activity (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance			$ 147.8
Net Additions	$ 27.9	$ 8.5	31.8	$ 17.2
Usage			(63.6)
Currency			0.5
Reserve, Ending Balance	116.5		116.5
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance			140.3
Net Additions			28.9
Usage			(55.3)
Currency			0.5
Reserve, Ending Balance	114.4		114.4
Facility closures and asset impairments
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance			7.5
Net Additions			2.9
Usage			(8.3)
Currency			0
Reserve, Ending Balance	2.1		2.1
Tools & Storage
Restructuring Cost and Reserve [Line Items]
Net Additions	14		13
Industrial Segment
Restructuring Cost and Reserve [Line Items]
Net Additions	7		10
Security
Restructuring Cost and Reserve [Line Items]
Net Additions	$ 7		$ 9

RESTRUCTURING CHARGES - Additio

RESTRUCTURING CHARGES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Dec. 28, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 27.9	$ 8.5	$ 31.8	$ 17.2
Restructuring reserves	116.5		116.5		$ 147.8
Tools & Storage
Restructuring Cost and Reserve [Line Items]
Restructuring charges	14		13
Security
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7		9
Industrial
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7		10
Facility closures
Restructuring Cost and Reserve [Line Items]
Restructuring charges			2.9
Restructuring reserves	2.1		2.1		7.5
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges			28.9
Restructuring reserves	$ 114.4		$ 114.4		$ 140.3

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense on continuing operations	$ 117.3	$ (51.6)	$ 104.4	$ (76.3)
Effective tax rate	(105.60%)	12.80%	(40.60%)	12.80%
One-time tax benefit	$ 118.8
Effective tax rate excluding business acquisition related and other costs	15.00%	11.60%	13.90%	12.80%

BUSINESS SEGMENTS AND GEOGRAP_2

BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Segment Net Sales and Profit (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 27, 2020USD ($)Integer	Jun. 29, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Integer			3
Net Sales	$ 3,147.4	$ 3,761.3	$ 6,276.8	$ 7,094.9
Segment profit	359.4	573.1	682.9	949.4
Other, net	(86.9)	(62.2)	(161.8)	(127.6)
Gain on sale of business	0	17.2	0	17.2
Restructuring charges	(27.9)	(8.5)	(31.8)	(17.2)
Interest expense	(57.3)	(72.4)	(117)	(146.8)
Interest income	2.5	12.1	12.6	28.7
Earnings before income taxes and equity interest	111.1	403.7	257.3	598.5
Tools & Storage
Segment Reporting Information [Line Items]
Restructuring charges	(14)		(13)
Industrial
Segment Reporting Information [Line Items]
Restructuring charges	(7)		(10)
Security
Segment Reporting Information [Line Items]
Restructuring charges	(7)		(9)
Corporate Segment
Segment Reporting Information [Line Items]
Corporate overhead	(78.7)	(55.6)	(127.6)	(105.2)
Continuing Operations | Tools & Storage
Segment Reporting Information [Line Items]
Net Sales	2,197.2	2,626	4,268	4,918.3
Segment profit	345.1	440	579.9	705.8
Continuing Operations | Industrial
Segment Reporting Information [Line Items]
Net Sales	517.5	649.9	1,108.2	1,204.9
Segment profit	5.1	95.1	72.9	166.1
Continuing Operations | Security
Segment Reporting Information [Line Items]
Net Sales	432.7	485.4	900.6	971.7
Segment profit	$ 9.2	$ 38	$ 30.1	$ 77.5

BUSINESS SEGMENTS AND GEOGRAP_3

BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Percentage of Deferred Revenue (Details) - Continuing Operations	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Industrial
Segment Reporting Information [Line Items]
Deferred revenue as a percent of total segment revenue	11.50%	9.60%	11.00%	10.00%
Security
Segment Reporting Information [Line Items]
Deferred revenue as a percent of total segment revenue	50.60%	44.90%	48.70%	45.20%

BUSINESS SEGMENTS AND GEOGRAP_4

BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Segment Reporting Information [Line Items]
Net Sales	$ 3,147.4	$ 3,761.3	$ 6,276.8	$ 7,094.9
Continuing Operations | Tools & Storage
Segment Reporting Information [Line Items]
Net Sales	2,197.2	2,626	4,268	4,918.3
Continuing Operations | Security
Segment Reporting Information [Line Items]
Net Sales	432.7	485.4	900.6	971.7
Continuing Operations | Industrial
Segment Reporting Information [Line Items]
Net Sales	517.5	649.9	1,108.2	1,204.9
Engineered Fastening | Continuing Operations | Industrial
Segment Reporting Information [Line Items]
Net Sales	351.7	441.9	776.4	876.2
Infrastructure business | Continuing Operations | Industrial
Segment Reporting Information [Line Items]
Net Sales	$ 165.8	$ 208	$ 331.8	$ 328.7

BUSINESS SEGMENTS AND GEOGRAP_5

BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Summary of Total Assets by Segment (Detail) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 28, 2019
Segment Reporting Information [Line Items]
Assets	$ 22,984.4	$ 20,596.6
Corporate assets
Segment Reporting Information [Line Items]
Assets	(94.2)	(701.4)
Continuing Operations
Segment Reporting Information [Line Items]
Assets	23,078.6	21,298
Continuing Operations | Tools & Storage
Segment Reporting Information [Line Items]
Assets	14,063.9	13,642.4
Continuing Operations | Industrial
Segment Reporting Information [Line Items]
Assets	5,657.1	4,207
Continuing Operations | Security
Segment Reporting Information [Line Items]
Assets	$ 3,357.6	$ 3,448.6

BUSINESS SEGMENTS AND GEOGRAP_6

BUSINESS SEGMENTS AND GEOGRAPHIC AREAS - Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Segment Reporting Disclosure [Line Items]
Consolidated	$ 3,147.4	$ 3,761.3	$ 6,276.8	$ 7,094.9
United States
Segment Reporting Disclosure [Line Items]
Consolidated	2,004	2,216.7	3,846	4,108.5
Canada
Segment Reporting Disclosure [Line Items]
Consolidated	135.8	160.9	285.7	304.8
Other Americas
Segment Reporting Disclosure [Line Items]
Consolidated	90.5	184	220.2	349
France
Segment Reporting Disclosure [Line Items]
Consolidated	105.8	152.6	240.6	306.2
Other Europe
Segment Reporting Disclosure [Line Items]
Consolidated	582.1	754.8	1,231.2	1,454.6
Asia
Segment Reporting Disclosure [Line Items]
Consolidated	$ 229.2	$ 292.3	$ 453.1	$ 571.8

CONTINGENCIES - Additional Info

CONTINGENCIES - Additional Information (Detail) cubic_yard in Millions, $ in Millions

Aug. 12, 2019USD ($)

Oct. 10, 2018mi

Jun. 30, 2018USD ($)Company

May 17, 2017Hazardous_Substance

Mar. 30, 2017Company

Mar. 31, 2016USD ($)Companymi

Mar. 04, 2016cubic_yardmi

Apr. 11, 2014mi

Apr. 30, 2015mi

May 31, 2007Companymi

Jun. 27, 2020USD ($)site

Dec. 28, 2019USD ($)

Dec. 29, 2018USD ($)

Loss Contingencies [Line Items]

Superfund sites | site

28

Environmental remediation costs deemed probable and reasonably estimable

$ 1,400

Environmental remediation, period construction of treatment facility to be maintained

30 years

Number of miles of river | mi

9

8.3

8.3

8.3

17

17

Cubic yards of settlement | cubic_yard

3.5

Approximate implementation time

6 years

Approximate time for remedial design

4 years

Number of other parties notified | Company

105

Number of companies offered cash out settlements | Company

20

Number of hazardous substances | Hazardous_Substance

8

Number of companies named in suit | Company

100

Estimated costs of remediation

$ 165

Minimum

Loss Contingencies [Line Items]

Environmental remediation costs deemed probable and reasonably estimable

$ 420

Maximum

Loss Contingencies [Line Items]

Environmental remediation costs deemed probable and reasonably estimable

$ 468

Property, Plant and Equipment, Other Types

Loss Contingencies [Line Items]

Environmental remediation costs, reserve

$ 204.4

$ 213.8

Reserve for environmental remediation costs, current

60.9

Reserve for environmental remediation costs, noncurrent

143.5

Accrual for environmental loss contingencies, EPA funded amount

15.8

Accrual for environmental loss contingencies, obligation after EPA funding

188.6

Property, Plant and Equipment, Other Types | Minimum

Loss Contingencies [Line Items]

Environmental remediation costs deemed probable and reasonably estimable

137.9

Property, Plant and Equipment, Other Types | Maximum

Loss Contingencies [Line Items]

Environmental remediation costs deemed probable and reasonably estimable

277.4

Centredale Site

Loss Contingencies [Line Items]

Environmental remediation costs, reserve

$ 77.7

Environmental remediation costs deemed probable and reasonably estimable

$ 106.4

Kerr McGee Chemical Site

Loss Contingencies [Line Items]

Environmental remediation costs, reserve

25.1

Cargo and Freight

Loss Contingencies [Line Items]

Outstanding obligations

$ 50.8

Lower Passaic Cooperating Parties Group

Loss Contingencies [Line Items]

Number of companies | Company

47

COMMITMENTS AND GUARANTEES - Le

COMMITMENTS AND GUARANTEES - Lease Commitment Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 27, 2020USD ($)office_buildingdistribution_center	Jun. 29, 2019USD ($)	Sep. 28, 2019
Commitments and Guarantees [Abstract]
Weighted average incremental borrowing rate	3.70%		3.70%
Increase in lease liability			$ 53.1
Operating lease liability	$ 517		517
Operating lease right-of-use asset	516		$ 516
Number of distribution centers | distribution_center			1
Number of office buildings | office_building			2
Operating lease, payments	$ 38.4	$ 36.6	$ 79	$ 74.8
Weighted average remaining term, leases					6 years

COMMITMENTS AND GUARANTEES - _2

COMMITMENTS AND GUARANTEES - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Commitments and Guarantees [Abstract]
Operating lease cost	$ 37.3	$ 38.7	$ 74.9	$ 76.3
Short-term lease cost	6	6.6	12.8	13.4
Variable lease cost	1.8	2.2	3.8	4.3
Sublease income	(0.2)	(0.9)	(0.4)	(1.5)
Total lease cost	$ 44.9	$ 46.6	$ 91.1	$ 92.5

COMMITMENTS AND GUARANTEES - _3

COMMITMENTS AND GUARANTEES - Lease Maturity Schedule (Details) $ in Millions	Jun. 27, 2020USD ($)
Commitments and Guarantees [Abstract]
Lease obligations	$ 581.9
2020	73.7
2021	124.2
2022	92.2
2023	66.4
2024	56.2
Thereafter	$ 169.2

COMMITMENTS AND GUARANTEES - Fi

COMMITMENTS AND GUARANTEES - Financial Guarantees (Detail) $ in Millions	6 Months Ended
	Jun. 27, 2020USD ($)
Guarantor Obligations [Line Items]
Maximum Potential Payment	$ 328.9
Carrying Amount of Liability	6.9
Guarantees on the residual values of leased assets
Guarantor Obligations [Line Items]
Maximum Potential Payment	101.9
Carrying Amount of Liability	$ 0
Guarantees on the residual values of leased assets | Minimum
Guarantor Obligations [Line Items]
Term	One
Guarantees on the residual values of leased assets | Maximum
Guarantor Obligations [Line Items]
Term	four years
Standby letters of credit
Guarantor Obligations [Line Items]
Maximum Potential Payment	$ 162.3
Carrying Amount of Liability	$ 0
Standby letters of credit | Maximum
Guarantor Obligations [Line Items]
Term	three years
Commercial customer financing arrangements
Guarantor Obligations [Line Items]
Maximum Potential Payment	$ 64.7
Carrying Amount of Liability	$ 6.9
Commercial customer financing arrangements | Maximum
Guarantor Obligations [Line Items]
Term	six years

COMMITMENTS AND GUARANTEES - Ad

COMMITMENTS AND GUARANTEES - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 27, 2020USD ($)office_buildingdistribution_center
Guarantor Obligations [Line Items]
Guarantee amount (up to)	$ 328.9
Carrying amount of guarantees recorded in the consolidated balance sheet	$ 6.9
Number of distribution centers | distribution_center	1
Number of office buildings | office_building	2
Number of distribution centers | distribution_center	1
Guarantees on the residual values of leased assets
Guarantor Obligations [Line Items]
Guarantee amount (up to)	$ 101.9
Fair value of the assets under lease	123.9
Carrying amount of guarantees recorded in the consolidated balance sheet	0
Standby letters of credit
Guarantor Obligations [Line Items]
Guarantee amount (up to)	162.3
Carrying amount of guarantees recorded in the consolidated balance sheet	0
Commercial customer financing arrangements
Guarantor Obligations [Line Items]
Guarantee amount (up to)	64.7
Carrying amount of guarantees recorded in the consolidated balance sheet	$ 6.9

COMMITMENTS AND GUARANTEES - Ch

COMMITMENTS AND GUARANTEES - Changes in Carrying Amount of Product and Service Warranties (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance beginning of period	$ 100.1	$ 102.1
Warranties and guarantees issued	58.5	62.4
Warranty payments and currency	(57)	(61.3)
Balance end of period	$ 101.6	$ 103.2

DIVESTITURES - Additional Infor

DIVESTITURES - Additional Information (Detail) - Sargent & Greenleaf - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business	$ 79
Pre-tax gain from sale of business	17.2
Pretax income from business before sale	$ 1.5	$ 4.6