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LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables) | 12 Months Ended
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Jan. 02, 2021
Debt Disclosure [Abstract] |
Long-Term Debt and Financing Arrangements | Long-term debt and financing arrangements at January 2, 2021 and December 28, 2019 were as follows:
|  | January 2, 2021 |  | December 29, 2019
(Millions of Dollars) | Interest Rate | Original Notional | Unamortized Discount | Unamortized Gain (Loss) Terminated Swaps 1 | Purchase Accounting FV Adjustment | Deferred Financing Fees | Carrying Value |  | Carrying Value
Notes payable due 2021 | 3.40% | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 406.0 |
Notes payable due 2022 | 2.90% | — |  | — |  | — |  | — |  | — |  | — |  |  | 752.3 |
Notes payable due 2026 | 3.40% | 500.0 |  | (0.5) |  | — |  | — |  | (2.3) |  | 497.2 |  |  | 496.5 |
Notes payable due 2028 | 7.05% | 150.0 |  | — |  | 8.2 |  | 7.9 |  | — |  | 166.1 |  |  | 168.3 |
Notes payable due 2028 | 4.25% | 500.0 |  | (0.3) |  | — |  | — |  | (3.5) |  | 496.2 |  |  | 495.8 |
Notes payable due 2030 | 2.30% | 750.0 |  | (2.3) |  | — |  | — |  | (4.8) |  | 742.9 |  |  | — |
Notes payable due 2040 | 5.20% | 400.0 |  | (0.2) |  | (29.0) |  | — |  | (2.7) |  | 368.1 |  |  | 366.5 |
Notes payable due 2048 | 4.85% | 500.0 |  | (0.5) |  | — |  | — |  | (5.2) |  | 494.3 |  |  | 494.1 |
Notes payable due 2050 | 2.75% | 750.0 |  | (2.0) |  | — |  | — |  | (8.1) |  | 739.9 |  |  | — |
Notes payable due 2060 (junior subordinated) | 4.00% | 750.0 |  | — |  | — |  | — |  | (9.3) |  | 740.7 |  |  | — |
Total long-term debt, including current maturities |  | $ | 4,300 |  | $ | (5.8) |  | $ | (20.8) |  | $ | 7.9 |  | $ | (35.9) |  | $ | 4,245.4 |  |  | $ | 3,179.5 |
Less: Current maturities of long-term debt |  |  |  |  |  |  | — |  |  | (3.1) |
Long-term debt |  |  |  |  |  |  | $ | 4,245.4 |  |  | $ | 3,176.4 |
1 Unamortized gain (loss) associated with interest rate swaps are more fully discussed in Note I, Financial Instruments.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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