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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 30, 2024
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
March 30, 2024 |  |  |  |  |  |  |
Money market fund | $ | 13.9 |  |  | $ | 13.9 |  |  | $ | — |  |  | $ | — |
Deferred compensation plan investments | $ | 15.9 |  |  | $ | 15.9 |  |  | $ | — |  |  | $ | — |
Derivative assets | $ | 8.3 |  |  | $ | — |  |  | $ | 8.3 |  |  | $ | — |
Derivative liabilities | $ | 8.9 |  |  | $ | — |  |  | $ | 8.9 |  |  | $ | — |
Non-derivative hedging instrument | $ | 357.1 |  |  | $ | — |  |  | $ | 357.1 |  |  | $ | — |
Contingent consideration liability | $ | 203.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 203.4 |
December 30, 2023 |  |  |  |  |  |  |
Money market fund | $ | 12.3 |  |  | $ | 12.3 |  |  | $ | — |  |  | $ | — |
Deferred compensation plan investments | $ | 20.2 |  |  | $ | 20.2 |  |  | $ | — |  |  | $ | — |
Derivative assets | $ | 8.5 |  |  | $ | — |  |  | $ | 8.5 |  |  | $ | — |
Derivative liabilities | $ | 17.9 |  |  | $ | — |  |  | $ | 17.9 |  |  | $ | — |
Non-derivative hedging instrument | $ | 399.7 |  |  | $ | — |  |  | $ | 399.7 |  |  | $ | — |
Contingent consideration liability | $ | 208.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 208.8 |
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:
| March 30, 2024 |  | December 30, 2023
(Millions of Dollars) | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Other investments | $ | 4.0 |  |  | $ | 3.9 |  |  | $ | 6.0 |  |  | $ | 5.8 |
Long-term debt, including current portion | $ | 6,102.1 |  |  | $ | 5,468.4 |  |  | $ | 6,102.1 |  |  | $ | 5,512.8 |

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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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + 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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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