Pay vs Performance Disclosure | 12 Months Ended |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Pay vs Performance Disclosure [Table] | | | | |
Pay vs Performance [Table Text Block] | | James M. Loree Donald Allan, Jr. Value of Initial Fixed $100 Year Summary Compensation Summary Compensation Average Average Total Peer Group Net CFROI (a) (b) (c) (b) (c) (d) (e) (f) (g) (h) (i) 2022 $ 13,625,418 $ (10,577,275) $ 8,093,256 $ (3,215,054) $ 2,787,366 $ (1,031,574) $ 48 $ 127 $ 1,062.5 (4.2) 2021 $ 13,159,209 $ 11,587,123 n/a n/a $ 3,655,494 $ 3,504,244 $ 118 $ 127 $ 1,689.2 5.8 % 2020 $ 16,349,446 $ 24,617,703 n/a n/a $ 4,054,082 $ 6,887,666 $ 110 $ 107 $ 1,233.8 16.0 % | | |
Company Selected Measure Name | [1] | CFROI | | |
Named Executive Officers, Footnote [Text Block] | | Footnote to columns (b) and (d) of the Pay Versus Performance Table. Donald Allan, Jr. | | |
Peer Group Issuers, Footnote [Text Block] | | Footnote to columns (f) and (g) of the Pay Versus Performance Table. | | |
Adjustment To PEO Compensation, Footnote [Text Block] | | Compensation Actually Paid Table The adjustments to determine the compensation actually paid to the PEO for each applicable year include the addition (or subtraction, as applicable) as set forth in the chart below Year Summary Deduction Deduction Pension (1) Fair Fair Dividends Change Change in Compensation ($) ($) ($) ($) ($) ($) ($) ($) ($) ($) 2022 (Allan) $ 8,093,256 $ — $ (6,749,876) $ — $ 2,617,625 $ — $ — $ (5,407,081) $ (1,768,978) $ (3,215,054) 2022 (Loree) $ 13,625,418 $ — $ (5,100,094) $ 197,155 $ — $ 90,470 $ — $ — $ (19,390,224) $ (10,577,275) 2021 $ 13,159,209 $ — $ (9,052,370) $ 494,146 $ 10,226,149 $ — $ — $ (3,239,465) $ (546) $ 11,587,123 2020 $ 16,349,446 $ (3,779,245) $ (10,955,996) $ 376,378 $ 17,174,490 $ — $ — $ 5,123,141 $ 329,489 $ 24,617,703 (1) There were no prior service costs for the pension plan (no plan amendments). | | |
Non-PEO NEO Average Total Compensation Amount | | $ 2,787,366 | $ 3,655,494 | $ 4,054,082 |
Non-PEO NEO Average Compensation Actually Paid Amount | | $ (1,031,574) | 3,504,244 | 6,887,666 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | | The adjustments to determine the average compensation actually paid to the Non-PEO NEOs for each applicable year include the addition (or subtraction, as applicable) as set forth in the chart below Year Average Deduction Deduction Pension (1) Fair Value (2) Dividends Paid on Change in Change in Fair Average ($) ($) ($) ($) ($) ($) ($) ($) ($) 2022 $2,787,366 — $(1,938,723) — $1,233,176 — $(1,981,775) $(1,131,618) $(1,031,574) 2021 $3,655,494 — $(2,142,701) — $2,349,584 — $(388,820) $30,687 $3,504,244 2020 $4,054,082 $(11,658) $(3,158,844) — $4,930,403 — $903,163 $170,520 $6,887,666 (1) There were no ongoing pension service costs nor any prior service costs for Non-PEO NEOs. (2) There were no awards granted and vested in the covered year for Non-PEO NEOs. Fair values set forth in the table above are computed in accordance with ASC 718 as of the end of the respective fiscal year, other than fair values of awards that vest in the covered year, which are valued as of the applicable vesting date, or the fair values of awards forfeited in the covered year, which are valued as of the end of the prior fiscal year. The fair value or change in fair value of RSUs is measured using the average of the high and low price of a share of Company common stock on the applicable measurement date. The fair value or change in fair value of stock options is determined using the Black-Scholes option pricing model. Refer to Note J of the Company’s Annual Reports on Form 10-K for the years ended December 31, 2022, January 1, 2022 and January 2, 2021 for disclosure of the assumptions utilized to value equity awards on the date of grant, as reported in the Summary Compensation Table. Refer to the compensation actually paid assumption footnotes beginning on page 79 for a description of the assumptions utilized that differed from those disclosed in Note J of the Company’s Annual Reports on Form 10-K for the years ended December 31, 2022, January 1, 2022 and January 2, 2021. The aggregate change in actuarial present value of accumulated benefit under pension plans reflects the amount reported for the applicable year in the Summary Compensation Table. Service costs is calculated as the actuarial present value of benefits under all pension plans attributable to services rendered during the applicable fiscal year. There are no pension prior service costs. | | |
Equity Valuation Assumption Difference, Footnote [Text Block] | | Stock Options 2022 (7) 2021 2020 2019 Stock price (1) $75.02 $187.62 $178.09 $165.67 Stock price (1) $74.59 - $116.21 $179.14 - $186.78 $151.67 - $180.12 n/a Expected volatility (2) 37.0% - 40.0% 34.0% - 35.0% 35.0% - 36.0% 25.0% Dividend yield (3) 2.8% - 4.3% 1.7% - 1.8% 1.6% - 1.9% 1.7% Risk-free interest rate (4) 2.9% - 4.3% 0.4% - 1.3% 0.1% - 0.4% 1.6% - 1.7% Expected life (5) 2.0 - 6.4 years 1.2 - 5.4 years 0.8 - 5.2 years 1.5 - 5.0 years Fair value (6) $7.14 - $20.22 $48.48 - $61.66 $36.37 - $57.87 $26.72 - $49.28 Fair value (6) $7.85 - $19.99 $34.40 - $54.42 $36.10 - $60.59 n/a (1) Stock price is equal to the average of the intraday high and low prices on the measurement date. (2) Expected volatility is based on the average of 5.25-year historical volatility and market implied volatility as of the measurement date. (3) Dividend yield is computed as the annualized dividend rate at the measurement date divided by the stock price. (4) Risk-free interest rate is based on U.S. Treasury securities with maturities equal to the expected life of the option. (5) Expected life calculated as 5.25-year grant date expected life minus elapsed time to measurement date and adjusted for how much the options are in or out of the money. (6) Calculated using the Black-Scholes pricing model. (7) For 2022, fair values and stock prices at vesting include vesting dates for terminating executives. Restricted Share Units 2022 (3) 2021 2020 2019 Stock price (1) $75.02 $187.62 $178.09 $165.67 Stock price (1) $74.58 - $141.21 $174.51 - $198.95 $178.25 - $182.17 n/a Fair value (2) $75.02 - $83.96 $187.62 - $196.08 $178.09 - $188.57 $165.67 - $173.36 Fair value (2) $77.77 - $147.07 $182.12 - $209.67 $182.63 - $189.77 n/a (1) Stock price is equal to the average of the intraday high and low prices on the measurement date. (2) Includes the value of accrued dividends. (3) For 2022, fair values and stock prices at vesting include vesting dates for terminating executives. Management Incentive Compensation Plan 2022 (3) 2021 2020 2019 Stock price (1) $75.02 $187.62 $178.09 $165.67 Stock price (1) $105.16 - $145.09 $191.73 $105.57 n/a Dividend yield (2) 4.3% 1.7% 1.6% 1.7% Fair value range per outstanding MICP at year end $74.35 $185.38 - $186.96 $174.7 - $176.1 $162.36 Fair value range per MICP at vesting dates $105.16 - $145.09 $191.73 $105.57 n/a (1) Stock price is equal to the average of the intraday high and low prices on the measurement date. (2) Dividend yield is computed as the annualized dividend rate at the measurement date divided by the stock price. (3) For 2022, fair values and stock prices at vesting include vesting dates for terminating executives. Long-Term Performance Awards - TSR 2022 (7) 2021 2020 2019 Stock price (1) $75.02 $187.62 $178.09 $165.67 Stock price (1) $105.16 - $165.91 $170.63 $163.44 n/a Expected volatility (2) 46.2% 42.9% 43.8% 26.3% Expected volatility (2) 28.9% - 48.8% 26.4% - 48.1% 25.7% - 99.9% 16.1% - 75.7% Dividend yield (3) 4.3% 1.7% 1.6% 1.7% Risk-free interest rate (4) 4.4% - 4.7% 0.4% - 0.7% 0.1% 1.6% Fair value (5) $11.50 $183.10 $197.07 $210.08 Fair value (5) $1.12 $108.13 $189.26 $144.29 Fair value (6) $0.00 $0.00 $113.27 $195.48 Fair value (6) $0.00 - $82.76 $108.52 $192.85 n/a (1) Stock price is equal to the average of the intraday high and low prices on the measurement date. (2) Expected volatility is based on 3-year historical volatility as of the measurement date. (3) Dividend yield is computed as the annualized dividend rate at the measurement date divided by the stock price. (4) Risk-free interest rate is based on U.S. Treasury securities with maturities equal to the remaining performance period. (5) Calculated using Monte Carlo simulation. (6) Based on stock price and vesting outcome. (7) For 2022, fair values and stock prices at vesting include vesting dates for terminating executives. Long-Term Performance Awards - EPS and CFROI 2022 (4) 2021 2020 2019 Stock price (1) $75.02 $187.62 $178.09 $165.67 Stock price (1) $105.16 - $165.91 $170.63 $163.44 n/a Dividend yield (2) 4.3% 1.7% 1.6% 1.7% Expected performance factor at year end - 0.0% 125.9% 185.2% 103.2% Expected performance factor at year end - 27.0% 151.7% 152.1% 36.5% Final performance factor at year end - 85.0% 127.5% 63.2% 106.1% Fair value range (3) $0.00 - $19.33 $227.84 - $279.23 $112.55 - $318.90 $59.32 - $175.78 Fair value (3) $0.00 - $211.54 $107.84 $173.40 n/a (1) Stock price is equal to the average of the intraday high and low prices on the measurement date. (2) Dividend yield is computed as the annualized dividend rate at the measurement date divided by the stock price. (3) Based on stock price and expected or actual vesting outcome. (4) For 2022, fair values and stock prices at vesting include vesting dates for terminating executives. | | |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | | Compensation Actually Paid and Cumulative TSR As demonstrated by the following graph, the compensation actually paid to the Company’s PEOs and the average amount of compensation actually paid to the Company’s non-PEO NEOs are generally aligned with the Company’s cumulative TSR over the three years presented in the pay versus performance table above. In 2022, we had two PEOs, Mr. Allan and Mr. Loree, as shown in the table above, and the graph below shows the sum of the compensation actually paid to both PEOs for 2022. A significant portion of the compensation actually paid to our NEOs is comprised of equity awards whose value is directly tied to the value of the Company’s common stock, demonstrating alignment between compensation actually paid and the Company’s cumulative TSR as further described in our Compensation Discussion and Analysis. Compensation Actually Paid (in millions) vs Company TSR (a) In 2022, reflects the total compensation actually paid to both PEOs in 2022 of which $(3.22 million) relates to Mr. Allan and $(10.58 million) relates to Mr. Loree. | | |
Compensation Actually Paid vs. Net Income [Text Block] | | Compensation Actually Paid and Net Income The chart below describes the relationship between net income and the compensation actually paid to the PEOs and the average amount of compensation paid to non-PEO NEOs. As demonstrated by the following table, the amount of compensation actually paid to our CEO and the average compensation paid to our Non-PEO NEOs is generally aligned to our net income over the three years presented in the table. Net income is inclusive of discontinued operations and in the year 2022 there was a gain on sale of the security segment amounting to $884.9 million. While the Company does not use net income as a performance measure in the overall executive compensation program, the measure of net income is somewhat correlated with the Adjusted EPS measure, which the Company uses as a metric in its annual incentive plan as well as long-term incentive program. However, the Adjusted EPS measure utilized in the incentive programs excludes acquisition-related and other charges, and excludes the gain on sale of business reported in discontinued operations in 2022. Compensation Actually Paid vs Net Income (in millions) (a) In 2022, reflects the total compensation actually paid to both PEOs in 2022 of which $(3.22) relates to Mr. Allan and $(10.58) relates to Mr. Loree. | | |
Compensation Actually Paid vs. Company Selected Measure [Text Block] | | Compensation Actually Paid and CFROI The chart below describes the relationship between the Company-selected performance measure of CFROI and compensation actually paid to the PEOs and the average amount of compensation paid to non-PEO NEOs. The Company uses multiple financial metrics in its MICP and LTIP PSUs but has selected CFROI as the financial performance measure that represents the most important performance measure (otherwise not required to be disclosed in the table above) used by the Company to link compensation actually paid to the NEOs for 2022 to Company performance. The Company uses CFROI as a metric in its LTIP PSU program, weighted at 40%, to incentivize performance that aligns with the Company’s 2022 annual operating plan and three-year strategic plan outlook. Compensation Actually Paid (in millions) vs CFROI (a) In 2022, reflects the total compensation actually paid to both PEOs in 2022 of which $(3.22) relates to Mr. Allan and $(10.58) relates to Mr. Loree. | | |
Total Shareholder Return Vs Peer Group [Text Block] | | Cumulative TSR of the Company and Cumulative TSR of Company Peer Group The following graph represents the Company’s cumulative TSR over the three-year period presented in the table above compared to the cumulative TSR of the Company’s peer group, the S&P 500 Capital Goods Index, over the same period. Each data point in the graph corresponds to the Pay Versus Performance table on page 75, reflecting the value of a fixed $100 investment for the one year period ending December 31, 2020, the two year period ending December 31, 2021, and the three year period ending December 31, 2022. Company TSR vs. Peer Group TSR | | |
Tabular List [Table Text Block] | | Performance Measures CFROI Adjusted EPS Adjusted Gross Margin Rate Free Cash Flow | | |
Total Shareholder Return Amount | | $ 48 | 118 | 110 |
Peer Group Total Shareholder Return Amount | | 127 | 127 | 107 |
Net Income (Loss) | | $ 1,062,500,000 | $ 1,689,200,000 | $ 1,233,800,000 |
Company Selected Measure Amount | | (4.2) | 5.8 | 16 |
PEO Name | | Donald Allan, Jr. | | |
Measure [Axis]: 1 | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Measure Name | [1] | Adjusted EPS | | |
Non-GAAP Measure Description [Text Block] | | Footnote to column (i) of the Pay Versus Performance Table. | | |
Measure [Axis]: 2 | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Measure Name | [1] | Adjusted Gross Margin Rate | | |
Measure [Axis]: 3 | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Measure Name | [1] | Free Cash Flow | | |
James M. Loree [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
PEO Total Compensation Amount | | $ 13,625,418 | $ 13,159,209 | $ 16,349,446 |
PEO Actually Paid Compensation Amount | | (10,577,275) | 11,587,123 | 24,617,703 |
James M. Loree [Member] | PEO [Member] | Deduction of Change in Pension Value [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | | (3,779,245) |
James M. Loree [Member] | PEO [Member] | Deduction of Equity Amounts [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | (5,100,094) | (9,052,370) | (10,955,996) |
James M. Loree [Member] | PEO [Member] | Pension Service Cost Adjustments [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | [2] | 197,155 | 494,146 | 376,378 |
James M. Loree [Member] | PEO [Member] | Fair Value for Unvested Awards Granted [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | 10,226,149 | 17,174,490 |
James M. Loree [Member] | PEO [Member] | Fair Value for Vested Awards Granted [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | 90,470 | | |
James M. Loree [Member] | PEO [Member] | Dividends Paid on Unvested Equity [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | | |
James M. Loree [Member] | PEO [Member] | Change in Fair Value of Outstanding Unvested Awards [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | (3,239,465) | 5,123,141 |
James M. Loree [Member] | PEO [Member] | Change in Fair Value of Awards from Prior Years Vested [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | (19,390,224) | (546) | 329,489 |
Donald Allan, Jr. [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
PEO Total Compensation Amount | | 8,093,256 | | |
PEO Actually Paid Compensation Amount | | (3,215,054) | | |
Donald Allan, Jr. [Member] | PEO [Member] | Deduction of Change in Pension Value [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | | |
Donald Allan, Jr. [Member] | PEO [Member] | Deduction of Equity Amounts [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | (6,749,876) | | |
Donald Allan, Jr. [Member] | PEO [Member] | Pension Service Cost Adjustments [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | [2] | | | |
Donald Allan, Jr. [Member] | PEO [Member] | Fair Value for Unvested Awards Granted [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | 2,617,625 | | |
Donald Allan, Jr. [Member] | PEO [Member] | Fair Value for Vested Awards Granted [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | | |
Donald Allan, Jr. [Member] | PEO [Member] | Dividends Paid on Unvested Equity [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | | |
Donald Allan, Jr. [Member] | PEO [Member] | Change in Fair Value of Outstanding Unvested Awards [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | (5,407,081) | | |
Donald Allan, Jr. [Member] | PEO [Member] | Change in Fair Value of Awards from Prior Years Vested [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | (1,768,978) | | |
Non Peo [Member] | Deduction of Change in Pension Value [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | | (11,658) |
Non Peo [Member] | Deduction of Equity Amounts [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | (1,938,723) | (2,142,701) | (3,158,844) |
Non Peo [Member] | Pension Service Cost Adjustments [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | [3] | | | |
Non Peo [Member] | Fair Value for Unvested Awards Granted [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | [4] | 1,233,176 | 2,349,584 | 4,930,403 |
Non Peo [Member] | Dividends Paid on Unvested Equity [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | | | |
Non Peo [Member] | Change in Fair Value of Outstanding Unvested Awards [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | (1,981,775) | (388,820) | 903,163 |
Non Peo [Member] | Change in Fair Value of Awards from Prior Years Vested [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | | $ (1,131,618) | $ 30,687 | $ 170,520 |
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[1]See Appendix A for an explanation and/or reconciliation of GAAP to Non-GAAP measures used in this Proxy Statement.[2]There were no prior service costs for the pension plan (no plan amendments).[3]There were no ongoing pension service costs nor any prior service costs for Non-PEO NEOs.[4]There were no awards granted and vested in the covered year for Non-PEO NEOs. | |