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Financial Instruments (Tables) | 12 Months Ended
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Dec. 28, 2019
Investments, All Other Investments [Abstract] |
Fair Values of Derivative Instruments Included within Accompanying Consolidated Balance Sheets |
Consolidated Balance Sheets Line Item Where Hedge Item is Recorded |  |  | Carrying Amount of the Hedged Assets/(Liabilities) |  |  |  | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) |  |
|  |  | (in millions) |  |  |  | (in millions) |  |
|  |  | 2019 |  | 2018 |  | 2019 |  | 2018
Long-term debt (1) |  |  | ($255.0) |  |  | ($254.6) |  |  | ($5.0) |  |  | ($4.6) |
(1) | The interest rate swap transacted in March 2010 was designated as a hedge of the first $100 million issuance of the $250 million, 6.125% unsecured notes due in 2021. |  |  |  |  |  |  |  |
The fair values of derivative instruments included within the accompanying Consolidated Balance Sheets as of 2019 and 2018 year end are as follows:
|  |  |  | 2019 |  |  |  | 2018 |  |
(Amounts in millions) |  | Balance Sheet Presentation |  | Derivative Assets Fair Value |  | Derivative Liability Fair Value |  | Derivative Assets Fair Value |  | Derivative Liability Fair Value
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | Other assets |  | $ | 5.0 |  |  | $ | — |  |  | $ | 4.6 |  |  | $ | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Foreign currency forwards |  | Prepaid expenses and other assets |  | $ | 3.5 |  |  | $ | — |  |  | $ | 2.8 |  |  | $ | — |
Foreign currency forwards |  | Other accrued liabilities |  | — |  |  | 4.6 |  |  | — |  |  | 3.2 |
Equity forwards |  | Prepaid expenses and other assets |  | 15.2 |  |  | — |  |  | 14.3 |  |  | — |
|  |  |  | 18.7 |  |  | 4.6 |  |  | 17.1 |  |  | 3.2 |
Total derivative instruments |  |  |  | $ | 23.7 |  |  | $ | 4.6 |  |  | $ | 21.7 |  |  | $ | 3.2 |
Effect of Derivative Instruments Designated as Cash Flow Hedges Included in AOCI on the Consolidated Balance Sheets | The effect of derivative instruments designated as cash flow hedges as included in the Accumulated OCI on the Consolidated Balance Sheets is as follows:
|  | Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative |  |  |  |
(Amounts in millions) |  | 2019 |  | 2018 |  | 2017
Derivatives in Hedging Relationships |  |  |  |  |  |
Treasury locks |  | $ | — |  |  | $ | (0.8) |  |  | $ | 6.9 |
Effect of Derivative Instruments Designated as Fair Value and Cash Flow Hedges Included in the Consolidated Statements of Earnings | The effect of derivative instruments designated as fair value and cash flow hedges as included in the Consolidated Statements of Earnings is as follows:
|  | Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships |  |  |  |  |  |  |  |  |  |
|  | 2019 |  |  |  | 2018 |  |  |  | 2017 |  |
(Amounts in millions) |  | Interest expense |  | Other income (expense) - net |  | Interest expense |  | Other income (expense) - net |  | Interest expense |  | Other income (expense) - net
Total amounts of income and expense presented in the Consolidated Statements of Earnings |  | $ | (49.0) |  |  |  | $ | 8.8 |  |  |  | $ | (50.4) |  |  | $ | 4.2 |  |  | $ | (52.4) |  |  |  | $ | (7.8) |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  | $ | (15.4) |  |  |  | $ | — |  |  | $ | (15.4) |  |  |  | $ | — |  |  |  | $ | (15.4) |  |  |  | $ | — |
Derivatives designated as hedging instruments |  | 2.0 |  |  |  | — |  |  | 1.5 |  |  |  | — |  |  |  | 2.8 |  |  |  | — |
Gain (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Treasury locks |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain reclassified from accumulated OCI into income |  | $ | 1.5 |  |  |  | $ | — |  |  | $ | 1.5 |  |  |  | $ | — |  |  |  | $ | 1.6 |  |  |  | $ | — |
Gain on settlement |  | — |  |  |  | — |  |  | — |  |  |  | 13.3 |  |  |  | — |  |  |  | — |
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:
Derivatives not designated as hedging instruments |  | Statement of Earnings Presentation |  | Gain (Loss) Recognized in Income on Derivatives |  |  |  |
(Amounts in millions) |  |  |  | 2019 |  | 2018 |  | 2017
Gain (loss) on derivative relationships |  |  |  |  |  |  |  |
Foreign currency forwards |  | Other income (expense) – net |  | $ | (20.0) |  |  |  | $ | (40.4) |  |  |  | $ | (25.8) |
Net exposures |  | Other income (expense) – net |  | 16.4 |  |  |  | 36.5 |  |  |  | 18.8 |
Equity forwards |  | Operating expenses |  | $ | 3.0 |  |  |  | $ | (2.1) |  |  |  | $ | 0.9 |
Stock-based deferred compensation liabilities |  | Operating expenses |  | (3.0) |  |  |  | 2.0 |  |  |  | (0.8) |
Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements | The fair values of financial instruments that do not approximate the carrying values in the financial statements as of 2019 and 2018 year end are as follows:
|  | 2019 |  |  |  | 2018 |  |
(Amounts in millions) |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Finance receivables – net |  | $ | 1,633.6 |  |  | $ | 1,920.6 |  |  | $ | 1,592.9 |  |  | $ | 1,845.4 |
Contract receivables – net |  | 460.8 |  |  | 505.5 |  |  | 443.2 |  |  | 481.2 |
Long-term debt and notes payable |  | 1,149.8 |  |  | 1,238.8 |  |  | 1,132.3 |  |  | 1,136.0 |

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