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LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables) | 3 Months Ended
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Mar. 29, 2025
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt and Financing Arrangements |
|  | March 29, 2025 |  | December 28, 2024
(Millions of Dollars) | Interest Rate | Notional Value | Carrying Value 1 |  | Carrying Value
Notes payable due 2025 | 2.30% | $ | — |  | $ | — |  |  | $ | 499.9 |
Notes payable due 2026 | 3.40% | 500.0 |  | 499.5 |  |  | 499.4 |
Notes payable due 2026 | 6.27% | 350.0 |  | 349.4 |  |  | 349.3 |
Notes payable due 2026 | 3.42% | 25.0 |  | 25.6 |  |  | 25.7 |
Notes payable due 2026 | 1.84% | 27.0 |  | 27.5 |  |  | 26.7 |
Notes payable due 2028 | 6.00% | 400.0 |  | 398.3 |  |  | 398.0 |
Notes payable due 2028 | 7.05% | 150.0 |  | 156.9 |  |  | 157.5 |
Notes payable due 2028 | 4.25% | 500.0 |  | 498.3 |  |  | 498.3 |
Notes payable due 2028 | 3.52% | 50.0 |  | 52.3 |  |  | 52.4 |
Notes payable due 2030 | 2.30% | 750.0 |  | 746.2 |  |  | 746.2 |
Notes payable due 2032 | 3.00% | 500.0 |  | 496.9 |  |  | 496.6 |
Notes payable due 2040 | 5.20% | 400.0 |  | 375.1 |  |  | 374.5 |
Notes payable due 2048 | 4.85% | 500.0 |  | 495.2 |  |  | 495.2 |
Notes payable due 2050 | 2.75% | 750.0 |  | 741.1 |  |  | 741.0 |
Notes payable due 2060 (junior subordinated)2 | 6.71% | 750.0 |  | 741.7 |  |  | 741.6 |
Other, payable in varying amounts 2025 through 2026 | 4.23%-4.31% | 0.6 |  | 0.6 |  |  | 0.7 |
Total Long-term debt, including current maturities |  | $ | 5,652.6 |  | $ | 5,604.6 |  |  | $ | 6,103.0 |
Less: Current maturities of long-term debt |  |  | (849.4) |  |  | (500.4) |
Long-term debt |  |  | $ | 4,755.2 |  |  | $ | 5,602.6 |
1 Carrying values are net of unamortized discounts of $(4.7) million, deferred issuance costs of $(31.0) million, unamortized terminated swaps of $(19.2) million, and purchase accounting fair value adjustments of $6.9 million. Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note H, Financial Instruments. 2 In accordance with the terms of Note payable due 2060, the interest rate was reset as of March 2025, to 6.71%, from 4.00% as of the year ended December 28, 2024.

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