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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jan. 01, 2022

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis for each of the hierarchy levels:

(Millions of Dollars)			Total Carrying Value						Level 1						Level 2						Level 3
January 1, 2022
Money market fund			$	11.0					$	11.0					$	—					$	—
Equity security			$	13.8					$	13.8					$	—					$	—
Deferred compensation plan investments			$	26.2					$	26.2					$	—					$	—
Derivative assets			$	33.1					$	—					$	33.1					$	—
Derivative liabilities			$	8.7					$	—					$	8.7					$	—
Contingent consideration liability			$	288.6					$	—					$	—					$	288.6
January 2, 2021
Money market fund			$	10.3					$	10.3					$	—					$	—
Derivative assets			$	14.0					$	—					$	14.0					$	—
Derivative liabilities			$	191.0					$	—					$	191.0					$	—
Contingent consideration liability			$	187.0					$	—					$	—					$	187.0

Summary of Company's Financial Instruments Carrying and Fair Values

The following table provides information about the Company's financial assets and liabilities not carried at fair value:

 

			January 1, 2022												January 2, 2021
(Millions of Dollars)			Carrying Value						Fair Value						Carrying Value						Fair Value
Other investments			$	11.2					$	11.6					$	13.3					$	13.9
Long-term debt, including current portion			$	4,354.9					$	4,850.2					$	4,245.4					$	4,934.5

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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

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

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X

- 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

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- References

No definition available.

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