Financial Instruments (Tables)

12 Months Ended

Jan. 03, 2015

Investments, All Other Investments [Abstract]

Fair Value of Derivative Instruments Included within Consolidated Balance Sheets

The fair value of derivative instruments included within the Consolidated Balance Sheets as of 2014 and 2013 year end are as follows:


		2014				2013
(Amounts in millions)	Balance Sheet Presentation	Asset Derivatives Fair Value		Liability Derivatives Fair Value		Asset Derivatives Fair Value		Liability Derivatives Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps	Other assets	$	14.0	$	–	$	10.1	$	–


Derivatives not designated as hedging instruments:
Foreign currency forwards	Prepaid expenses and other assets	$	6.6	$	–	$	4.1	$	–
Foreign currency forwards	Other accrued liabilities		–		14.7		–		5.6
Equity forwards	Prepaid expenses and other assets		15.4		–		11.5		–

Total			22.0		14.7		15.6		5.6

Total derivative instruments		$	36.0	$	14.7	$	25.7	$	5.6

Derivative Instruments Designated as Fair Value Hedges Included in Consolidated Statements of Earnings

The effect of derivative instruments designated as fair value hedges as included in the Consolidated Statements of Earnings is as follows:



		Effective Portion of Gain Recognized in Income
(Amounts in millions)	Statement of Earnings Presentation	2014		2013		2012
Derivatives designated as fair value hedges:
Interest rate swaps	Interest expense	$	4.0	$	4.0	$	3.4

Effect of Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI on Consolidated Balance Sheets and Consolidated Statements of Earnings

The effect of derivative instruments designated as cash flow hedges as included in Accumulated OCI on the Consolidated Balance Sheets and the Consolidated Statements of Earnings is as follows:


	Effective Portion of Gain Recognized in Accumulated OCI							Effective Portion of Gain Reclassified from Accumulated OCI into Income
(Amounts in millions)	2014		2013		2012		Statement of Earnings Presentation	2014		2013		2012
Derivatives designated as cash flow hedges:
Treasury locks	$	–	$	–	$	–	Interest expense	$	0.3	$	0.4	$	0.4

Derivative Instruments Not Designated as Hedges Included in Consolidated Statements of Earnings

The effects of derivative instruments not designated as hedging instruments as included in the Consolidated Statements of Earnings are as follows:


			Gain (Loss) Recognized in Income
(Amounts in millions)	Statement of Earnings Presentation		2014		2013		2012
Derivatives not designated as hedging instruments:
Foreign currency forwards		Other income (expense) – net	$	(19.3)	$	1.9	$	11.0
Equity forwards		Operating expenses		3.6		3.3		–

Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements

Fair value of financial instruments: The fair values of financial instruments that do not approximate the carrying values in the financial statements as of 2014 and 2013 year end are as follows:


	2014				2013
(Amounts in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Finance receivables – net	$	1,052.9	$	1,198.4	$	935.2	$	1,084.1
Contract receivables – net		316.5		348.2		285.5		326.7
Long-term debt, notes payable and current maturities of long-term debt		919.3		1,031.3		972.0		1,078.9

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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