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LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables) | 9 Months Ended
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Oct. 02, 2021
Debt Disclosure [Abstract] |
Long-Term Debt and Financing Arrangements | Long-term debt and financing arrangements at October 2, 2021 and January 2, 2021 are as follows:
|  |  | October 2, 2021 |  | January 2, 2021
(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 2026 | 3.40% |  | $ | 500.0 |  |  | $ | (0.5) |  |  | $ | — |  |  | $ | — |  |  | $ | (1.9) |  |  | $ | 497.6 |  |  | $ | 497.2 |
Notes payable due 2028 | 7.05% |  | 150.0 |  |  | — |  |  | 7.4 |  |  | 7.1 |  |  | — |  |  | 164.5 |  |  | 166.1 |
Notes payable due 2028 | 4.25% |  | 500.0 |  |  | (0.3) |  |  | — |  |  | — |  |  | (3.1) |  |  | 496.6 |  |  | 496.2 |
Notes payable due 2030 | 2.30% |  | 750.0 |  |  | (2.1) |  |  | — |  |  | — |  |  | (4.4) |  |  | 743.5 |  |  | 742.9 |
Notes payable due 2040 | 5.20% |  | 400.0 |  |  | (0.2) |  |  | (27.9) |  |  | — |  |  | (2.6) |  |  | 369.3 |  |  | 368.1 |
Notes payable due 2048 | 4.85% |  | 500.0 |  |  | (0.5) |  |  | — |  |  | — |  |  | (5.0) |  |  | 494.5 |  |  | 494.3 |
Notes payable due 2050 | 2.75% |  | 750.0 |  |  | (1.9) |  |  | — |  |  | — |  |  | (8.1) |  |  | 740.0 |  |  | 739.9 |
Notes payable due 2060 (junior subordinated) | 4.00% |  | 750.0 |  |  | — |  |  | — |  |  | — |  |  | (9.1) |  |  | 740.9 |  |  | 740.7 |
Long-term debt 2 |  |  | $ | 4,300.0 |  |  | $ | (5.5) |  |  | $ | (20.5) |  |  | $ | 7.1 |  |  | $ | (34.2) |  |  | $ | 4,246.9 |  |  | $ | 4,245.4 |
1 Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note I, Financial Instruments. 2 There are no current maturities of long-term debt.

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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=120391452&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=119993939&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=120395691&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=119993939&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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