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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 28, 2024

Fair Value Disclosures [Abstract]

Schedule of 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
December 28, 2024
Money market fund			$	14.2					$	14.2					$	—					$	—
Deferred compensation plan investments			$	17.0					$	17.0					$	—					$	—
Derivative assets			$	32.6					$	—					$	32.6					$	—
Derivative liabilities			$	11.8					$	—					$	11.8					$	—
Contingent consideration liability			$	167.4					$	—					$	—					$	167.4
December 30, 2023
Money market fund			$	12.3					$	12.3					$	—					$	—
Non-derivative hedging instrument			$	399.7					$	—					$	399.7					$	—
Deferred compensation plan investments			$	20.2					$	20.2					$	—					$	—
Derivative assets			$	8.5					$	—					$	8.5					$	—
Derivative liabilities			$	17.9					$	—					$	17.9					$	—
Contingent consideration liability			$	208.8					$	—					$	—					$	208.8

Schedule of Financial Assets and Liabilities not Carried at Fair Value

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

 

			December 28, 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			$	6,103.0					$	5,548.8					$	6,102.1					$	5,512.8

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
-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

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- References

No definition available.

+ Details

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X

- 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/2009/role/commonPracticeRef
-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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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