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Financial Instruments (Tables) | 12 Months Ended
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Jan. 01, 2022
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)
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Notes payable and current maturities of long-term debt |  | $ | — |  |  | $ | (255.1) |  |  | $ | — |  |  | $ | (5.1) |
The fair values of derivative instruments included within the accompanying Consolidated Balance Sheets as of 2021 and 2020 year end are as follows:
|  |  |  | 2021 |  | 2020
(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 |  | $ | — |  |  | $ | — |  |  | $ | 5.1 |  |  | $ | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Foreign currency forwards |  | Prepaid expenses and other assets |  | $ | 10.2 |  |  | $ | — |  |  | $ | 12.2 |  |  | $ | — |
Foreign currency forwards |  | Other accrued liabilities |  | — |  |  | 5.3 |  |  | — |  |  | 7.0 |
Equity forwards |  | Prepaid expenses and other assets |  | 15.5 |  |  | — |  |  | 13.5 |  |  | — |
|  |  |  | 25.7 |  |  | 5.3 |  |  | 25.7 |  |  | 7.0 |
Total derivative instruments |  |  |  | $ | 25.7 |  |  | $ | 5.3 |  |  | $ | 30.8 |  |  | $ | 7.0 |
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) | 2021 |  | 2020 |  | 2019
Derivatives in Hedging Relationships: |  |  |  |  |  |
Treasury locks |  | $ | — |  |  | $ | 1.4 |  |  | $ | — |
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
|  | 2021 |  | 2020 |  | 2019
(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: |  | $ | (53.1) |  |  | $ | 16.5 |  |  | $ | (54.0) |  |  | $ | 8.7 |  |  | $ | (49.0) |  |  | $ | 8.8 |
Gain (loss) on fair value hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  | $ | (10.2) |  |  | $ | — |  |  | $ | (15.7) |  |  | $ | — |  |  | $ | (15.4) |  |  | $ | — |
Derivatives designated as hedging instruments |  | 2.7 |  |  | — |  |  | 3.9 |  |  | — |  |  | 2.0 |  |  | — |
Gain on cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |
Treasury locks |  |  |  |  |  |  |  |  |  |  |  |
Gain reclassified from accumulated OCI into income |  | $ | 1.6 |  |  | $ | — |  |  | $ | 1.6 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | — |
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 on Derivatives
(Amounts in millions) |  |  |  | 2021 |  | 2020 |  | 2019
Gain (loss) on derivative relationships: |  |  |  |  |  |  |  |
Foreign currency forwards |  | Other income (expense) – net |  | $ | (10.8) |  |  | $ | (6.6) |  |  | $ | (20.0) |
Net exposures |  | Other income (expense) – net |  | 9.6 |  |  | 2.7 |  |  | 16.4 |
Equity forwards |  | Operating expenses |  | $ | 4.1 |  |  | $ | 1.0 |  |  | $ | 3.0 |
Stock-based deferred compensation liabilities |  | Operating expenses |  | (4.3) |  |  | (1.2) |  |  | (3.0) |
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 2021 and 2020 year end are as follows:
|  | 2021 |  | 2020
(Amounts in millions) |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Finance receivables – net |  | $ | 1,656.3 |  |  | $ | 1,988.6 |  |  | $ | 1,666.5 |  |  | $ | 2,024.4 |
Contract receivables – net |  | 488.6 |  |  | 542.5 |  |  | 487.2 |  |  | 545.4 |
Long-term debt, notes payable and current maturities of long-term debt |  | 1,200.3 |  |  | 1,339.7 |  |  | 1,450.6 |  |  | 1,678.2 |

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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