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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Apr. 02, 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
April 2, 2022 |  |  |  |  |  |  |
Money market fund | $ | 12.7 |  |  | $ | 12.7 |  |  | $ | — |  |  | $ | — |
Equity Security | $ | 7.7 |  |  | $ | 7.7 |  |  |  |  | $ | — |
Deferred compensation plan investments | $ | 23.7 |  |  | $ | 23.7 |  |  | $ | — |  |  | $ | — |
Derivative assets | $ | 29.9 |  |  | $ | — |  |  | $ | 29.9 |  |  | $ | — |
Derivative liabilities | $ | 11.8 |  |  | $ | — |  |  | $ | 11.8 |  |  | $ | — |
Contingent consideration liability | $ | 289.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 289.3 |
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 |
Summary of Financial Instruments Carrying and Fair Values | The following table provides information about the Company's financial assets and liabilities not carried at fair value:
| April 2, 2022 |  | January 1, 2022
(Millions of Dollars) | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Other investments | $ | 9.3 |  |  | $ | 9.5 |  |  | $ | 11.2 |  |  | $ | 11.6 |
Long-term debt | $ | 5,356.7 |  |  | $ | 5,401.5 |  |  | $ | 4,354.9 |  |  | $ | 4,850.2 |

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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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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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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