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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Oct. 02, 2021
Accounting Policies [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | The following tables present the impact of the restatement on the Company's previously reported results of operations and comprehensive income, as applicable, for the quarter-to-date and year-to-date periods ended October 2, 2021, July 3, 2021, April 3, 2021, September 26, 2020, June 27, 2020 and March 28, 2020.
| Quarter-To-Date October 2, 2021 |  | Year-To-Date October 2, 2021
(Millions of Dollars, except per share amounts | As Previously Reported |  | Restatement Impacts |  | As Restated |  | As Previously Reported |  | Restatement Impacts |  | As Restated
Total Comprehensive Income Attributable to Common Shareowners | $ | 326.8 |  |  | $ | (0.4) |  |  | $ | 326.4 |  |  | $ | 1,186.7 |  |  | $ | (0.9) |  |  | $ | 1,185.8 |
| Quarter-To-Date July 3, 2021 |  | Year-To-Date July 3, 2021
(Millions of Dollars, except per share amounts | As Previously Reported |  | Restatement Impacts |  | As Restated |  | As Previously Reported |  | Restatement Impacts |  | As Restated
Net Earnings Attributable to Common Shareowners | $ | 454.7 |  |  | $ | — |  |  | $ | 454.7 |  |  | $ | 932.7 |  |  | $ | — |  |  | $ | 932.7 |
Add: Contract adjustment payments accretion | — |  |  | 0.3 |  |  | 0.3 |  |  | — |  |  | 0.5 |  |  | 0.5 |
Net Earnings Attributable to Common Shareowners - Diluted | $ | 454.7 |  |  | $ | 0.3 |  |  | $ | 455.0 |  |  | $ | 932.7 |  |  | $ | 0.5 |  |  | $ | 933.2 |
Earnings per share of common stock: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 2.87 |  |  | $ | — |  |  | $ | 2.87 |  |  | $ | 5.90 |  |  | $ | — |  |  | $ | 5.90 |
Diluted | $ | 2.81 |  |  | $ | (0.06) |  |  | $ | 2.75 |  |  | $ | 5.80 |  |  | $ | (0.13) |  |  | $ | 5.67 |
Weighted-average shares outstanding (in thousands): |  |  |  |  |  |  |  |  |  |  |
Basic | 158,644 |  |  | — |  |  | 158,644 |  |  | 158,081 |  |  | — |  |  | 158,081 |
Diluted | 161,571 |  |  | 3,615 |  |  | 165,186 |  |  | 160,861 |  |  | 3,872 |  |  | 164,733 |
| Quarter-To-Date April 3, 2021
(Millions of Dollars, except per share amounts | As Previously Reported |  | Restatement Impacts |  | As Restated
Net Earnings Attributable to Common Shareowners | $ | 478.0 |  |  | $ | — |  |  | $ | 478.0 |
Add: Contract adjustment payments accretion | $ | — |  |  | $ | 0.2 |  |  | $ | 0.2 |
Net Earnings Attributable to Common Shareowners - Diluted | $ | 478.0 |  |  | $ | 0.2 |  |  | $ | 478.2 |
Earnings per share of common stock: |  |  |  |  |
Basic | $ | 3.04 |  |  | $ | — |  |  | $ | 3.04 |
Diluted | $ | 2.98 |  |  | $ | (0.07) |  |  | $ | 2.91 |
Weighted-average shares outstanding (in thousands): |  |  |  |  |
Basic | 157,490 |  |  | — |  |  | 157,490 |
Diluted | 160,220 |  |  | 4,129 |  |  | 164,349 |
| Quarter-To-Date September 26, 2020 |  | Year-To-Date September 26, 2020
(Millions of Dollars, except per share amounts | As Previously Reported |  | Restatement Impacts |  | As Restated |  | As Previously Reported |  | Restatement Impacts |  | As Restated
Net Earnings Attributable to Common Shareowners | $ | 385.5 |  |  | $ | — |  |  | $ | 385.5 |  |  | $ | 752.4 |  |  | $ | (0.7) |  |  | $ | 751.7 |
Add: Contract adjustment payments accretion | — |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | 1.5 |  |  | 1.5 |
Net Earnings Attributable to Common Shareowners - Diluted | $ | 385.5 |  |  | $ | 0.1 |  |  | $ | 385.6 |  |  | $ | 752.4 |  |  | $ | 0.8 |  |  | $ | 753.2 |
Total Comprehensive Income Attributable to Common Shareowners | $ | 465.0 |  |  | — |  |  | $ | 465.0 |  |  | $ | 675.9 |  |  | (0.7) |  |  | $ | 675.2 |
Earnings per share of common stock: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 2.47 |  |  | $ | — |  |  | $ | 2.47 |  |  | $ | 4.91 |  |  | $ | (0.01) |  |  | $ | 4.90 |
Diluted | $ | 2.44 |  |  | $ | (0.07) |  |  | $ | 2.37 |  |  | $ | 4.86 |  |  | $ | (0.21) |  |  | $ | 4.65 |
Weighted-average shares outstanding (in thousands): |  |  |  |  |  |  |  |  |  |  |
Basic | 156,370 |  |  | — |  |  | 156,370 |  |  | 153,345 |  |  | — |  |  | 153,345 |
Diluted | 157,971 |  |  | 4,704 |  |  | 162,675 |  |  | 154,759 |  |  | 7,339 |  |  | 162,098 |
| Quarter-To-Date June 27, 2020 |  | Year-To-Date June 27, 2020
(Millions of Dollars, except per share amounts | As Previously Reported |  | Restatement Impacts |  | As Restated |  | As Previously Reported |  | Restatement Impacts |  | As Restated
Net Earnings Attributable to Common Shareowners | $ | 233.7 |  |  | $ | (0.2) |  |  | $ | 233.5 |  |  | $ | 366.9 |  |  | $ | (0.7) |  |  | $ | 366.2 |
Add: Contract adjustment payments accretion | — |  |  | 0.5 |  |  | 0.5 |  |  | — |  |  | 1.4 |  |  | 1.4 |
Net Earnings Attributable to Common Shareowners - Diluted | $ | 233.7 |  |  | $ | 0.3 |  |  | $ | 234.0 |  |  | $ | 366.9 |  |  | $ | 0.7 |  |  | $ | 367.6 |
Earnings per share of common stock: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 1.52 |  |  | $ | — |  |  | $ | 1.52 |  |  | $ | 2.41 |  |  | $ | — |  |  | $ | 2.41 |
Diluted | $ | 1.52 |  |  | $ | (0.07) |  |  | $ | 1.45 |  |  | $ | 2.39 |  |  | $ | (0.12) |  |  | $ | 2.27 |
Weighted-average shares outstanding (in thousands): |  |  |  |  |  |  |  |  |  |  |
Basic | 153,330 |  |  | — |  |  | 153,330 |  |  | 152,011 |  |  | — |  |  | 152,011 |
Diluted | 154,154 |  |  | 7,436 |  |  | 161,590 |  |  | 153,290 |  |  | 8,657 |  |  | 161,947 |
| Quarter-To-Date March 28, 2020
(Millions of Dollars, except per share amounts | As Previously Reported |  | Restatement Impacts |  | As Restated
Net Earnings Attributable to Common Shareowners | $ | 133.2 |  |  | $ | (0.5) |  |  | $ | 132.7 |
Add: Contract adjustment payments accretion | — |  |  | 0.9 |  |  | 0.9 |
Net Earnings Attributable to Common Shareowners - Diluted | $ | 133.2 |  |  | $ | 0.4 |  |  | $ | 133.6 |
Earnings per share of common stock: |  |  |  |  |
Basic | $ | 0.89 |  |  | $ | (0.01) |  |  | $ | 0.88 |
Diluted | $ | 0.88 |  |  | $ | (0.05) |  |  | $ | 0.83 |
Weighted-average shares outstanding (in thousands): |  |  |  |  |
Basic | 150,330 |  |  | — |  |  | 150,330 |
Diluted | 151,903 |  |  | 9,878 |  |  | 161,781 |
The tables below present the impact of the restatement on the classification of amounts within certain equity accounts as of October 2, 2021, July 3, 2021, April 3, 2021, September 26, 2020, June 27, 2020 and March 28, 2020. The values as previously reported were derived from the Company's Original Form 10-Q. Refer to the Company's Form 10-K/A for the year ended January 2, 2021, for impacts of the restatement on the consolidated balance sheet as of January 2, 2021.
| October 2, 2021
(Millions of Dollars) | As Previously Reported |  | Restatement Impacts |  | As Restated
Preferred stock, without par value | $ | 750.0 |  |  | $ | (129.7) |  |  | $ | 620.3 |
Retained earnings | $ | 8,546.8 |  |  | $ | (5.4) |  |  | $ | 8,541.4 |
Additional paid in capital | $ | 4,842.3 |  |  | $ | 135.1 |  |  | $ | 4,977.4 |
Total Shareowners’ Equity | $ | 11,318.2 |  |  | $ | — |  |  | $ | 11,318.2 |
| July 3, 2021
(Millions of Dollars) | As Previously Reported |  | Restatement Impacts |  | As Restated
Preferred stock, without par value | $ | 750.0 |  |  | $ | (129.7) |  |  | $ | 620.3 |
Retained earnings | $ | 8,258.6 |  |  | $ | (5.4) |  |  | $ | 8,253.2 |
Additional paid in capital | $ | 4,816.6 |  |  | $ | 135.1 |  |  | $ | 4,951.7 |
Total Shareowners’ Equity | $ | 11,086.0 |  |  | $ | — |  |  | $ | 11,086.0 |
| April 3, 2021
(Millions of Dollars) | As Previously Reported |  | Restatement Impacts |  | As Restated
Preferred stock, without par value | $ | 1,500.0 |  |  | $ | (129.7) |  |  | $ | 1,370.3 |
Retained earnings | $ | 7,915.5 |  |  | $ | (5.4) |  |  | $ | 7,910.1 |
Additional paid in capital | $ | 4,842.8 |  |  | $ | 135.1 |  |  | $ | 4,977.9 |
Total Shareowners’ Equity | $ | 11,404.8 |  |  | $ | — |  |  | $ | 11,404.8 |
| September 26, 2020
(Millions of Dollars) | As Previously Reported |  | Restatement Impacts |  | As Restated
Preferred stock, without par value | $ | 1,500.0 |  |  | $ | (129.7) |  |  | $ | 1,370.3 |
Retained earnings | $ | 7,200.4 |  |  | $ | (5.4) |  |  | $ | 7,195.0 |
Additional paid in capital | $ | 4,785.3 |  |  | $ | 135.1 |  |  | $ | 4,920.4 |
Total Shareowners’ Equity | $ | 10,379.3 |  |  | $ | — |  |  | $ | 10,379.3 |
| June 27, 2020
(Millions of Dollars) | As Previously Reported |  | Restatement Impacts |  | As Restated
Preferred stock, without par value | $ | 1,500.0 |  |  | $ | (129.7) |  |  | $ | 1,370.3 |
Retained earnings | $ | 6,924.5 |  |  | $ | (5.4) |  |  | $ | 6,919.1 |
Additional paid in capital | $ | 4,773.2 |  |  | $ | 135.1 |  |  | $ | 4,908.3 |
Total Shareowners’ Equity | $ | 9,965.6 |  |  | $ | — |  |  | $ | 9,965.6 |
| March 28, 2020
(Millions of Dollars) | As Previously Reported |  | Restatement Impacts |  | As Restated
Preferred stock, without par value | $ | 1,500.0 |  |  | $ | (269.5) |  |  | $ | 1,230.5 |
Retained earnings | $ | 6,796.6 |  |  | $ | (5.2) |  |  | $ | 6,791.4 |
Additional paid in capital | $ | 4,496.6 |  |  | $ | 274.7 |  |  | $ | 4,771.3 |
Total Shareowners’ Equity | $ | 8,959.2 |  |  | $ | — |  |  | $ | 8,959.2 |
The following tables present the impact of the restatement on the Company's previously reported consolidated statements of cash flows for the year-to-date period ended September 26, 2020, and the quarter-to-date and year-to-date periods ended June 27, 2020. The consolidated statements of cash flows for the remaining Affected Periods were not impacted by the restatement.
| Year-to-Date September 26, 2020
(Millions of Dollars) | As Previously Reported |  | Restatement Impacts |  | As Restated
Proceeds from issuance of remarketed preferred stock | $ | — |  |  | $ | 750.0 |  |  | $ | 750.0 |
Proceeds from issuances of common stock | $ | 843.8 |  |  | $ | (750.0) |  |  | $ | 93.8 |
Cash provided by financing activities | $ | 1,273.5 |  |  | $ | — |  |  | $ | 1,273.5 |
| Quarter-to-Date June 27, 2020 |  | Year-to-Date June 27, 2020
(Millions of Dollars) | As Previously Reported |  | Restatement Impacts |  | As Restated |  | As Previously Reported |  | Restatement Impacts |  | As Restated
Proceeds from issuance of remarketed preferred stock | $ | — |  |  | $ | 750.0 |  |  | $ | 750.0 |  |  | $ | — |  |  | $ | 750.0 |  |  | $ | 750.0 |
Proceeds from issuances of common stock | $ | 756.7 |  |  | $ | (750.0) |  |  | $ | 6.7 |  |  | $ | 801.3 |  |  | $ | (750.0) |  |  | $ | 51.3 |
Cash (used in) provided by financing activities | $ | (391.5) |  |  | $ | — |  |  | $ | (391.5) |  |  | $ | 2,083.7 |  |  | $ | — |  |  | $ | 2,083.7 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794 + Details
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