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Financial Instruments (Tables)

12 Months Ended

Jan. 02, 2016

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 2015 and 2014 year end are as follows:

				2015								2014
(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		$	12.9			$	–			$	14.0			$	–
Derivatives not designated as hedging instruments:
Foreign currency forwards		Prepaid expenses   and other assets		$	2.8			$	–			$	6.6			$	–
Foreign currency forwards		Other accrued   liabilities			–				5.9				–				14.7
Equity forwards		Prepaid expenses   and other assets			18.5				–				15.4				–
Total					21.3				5.9				22.0				14.7
Total derivative instruments				$	34.2			$	5.9			$	36.0			$	14.7

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:

		Statement of Earnings Presentation		Effective Portion of Gain Recognized in Income
(Amounts in millions)				2015				2014				2013
Derivatives designated as fair value hedges:
Interest rate swaps		Interest expense		$	3.7			$	4.0			$	4.0

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:

(Amounts in millions)		Effective Portion of Gain Recognized in Accumulated OCI												Statement of Earnings Presentation				Effective Portion of Gain Reclassified from Accumulated OCI into Income
		2015				2014				2013								2015				2014				2013
Derivatives designated as cash flow hedges:
Treasury locks		$	–			$	–			$	–				Interest expense			$	0.3			$	0.3			$	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:

		Statement of Earnings Presentation		Gain (Loss) Recognized in Income
(Amounts in millions)				2015				2014				2013
Derivatives not designated as hedging instruments:
Foreign currency forwards		Other income (expense) – net		$	(15.5)			$	(19.3)			$	1.9
Equity forwards		Operating expenses			4.7				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 2015 and 2014 year end are as follows:

		2015								2014
(Amounts in millions)		Carrying Value				Fair Value				Carrying Value				Fair Value
Finance receivables – net		$	1,220.0			$	1,381.9			$	1,052.9			$	1,198.4
Contract receivables – net			348.7				380.2				316.5				348.2
Long-term debt and notes payable			880.1				961.1				919.3				1,031.3

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Paragraph 4A
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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959

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