FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Apr. 01, 2016

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations.



	Fair Values as of the end of the First Quarter of Fiscal 2016								Fair Values as of Fiscal Year End 2015
(Dollars in millions)	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
Assets
Deferred compensation plan assets (1)	$	21.4	$	—	$	—	$	21.4	$	21.1	$	—	$	—	$	21.1
Derivative assets (2)	—		0.8		—		0.8		—		2.9		—		2.9
Contingent consideration assets (3)	—		—		7.0		7.0		—		—		7.0		7.0
Total	$	21.4	$	0.8	$	7.0	$	29.2	$	21.1	$	2.9	$	7.0	$	31.0
Liabilities
Deferred compensation plan liabilities (1)	$	21.4	$	—	$	—	$	21.4	$	21.1	$	—	$	—	$	21.1
Derivative liabilities (2)	—		1.0		—		1.0		—		2.1		—		2.1
Contingent consideration liabilities (4)	—		—		5.0		5.0		—		—		6.6		6.6
Total	$	21.4	$	1.0	$	5.0	$	27.4	$	21.1	$	2.1	$	6.6	$	29.8

(1)

The Company maintains a self-directed, non-qualified deferred compensation plan for certain executives and other highly compensated employees. The plan assets and liabilities are invested in actively traded mutual funds and individual stocks valued using observable quoted prices in active markets. Deferred compensation plan assets and liabilities are included in Other non-current assets and Other non-current liabilities, respectively, on the Company's Condensed Consolidated Balance Sheets.

(2)

Derivative assets and liabilities primarily represent forward currency exchange contracts. The Company typically enters into these contracts to minimize the short-term impact of foreign currency exchange rates on certain trade and inter-company receivables and payables. Derivative assets and liabilities are included in Other current assets and Other current liabilities on the Company's Condensed Consolidated Balance Sheets.

(3)

Contingent consideration assets represents arrangements for buyers to pay the Company for certain businesses that it has divested. The fair value is determined based on the Company's expectations of future receipts. The minimum amount to be received under these arrangements is $3.5 million. Contingent consideration assets are included in Other receivables and Other non-current assets on the Company's Condensed Consolidated Balance Sheets.

(4)

Contingent consideration liabilities represent arrangements to pay the former owners of certain companies that Trimble acquired. The undiscounted maximum payment under the arrangements is $18.3 million at the end of the first quarter of fiscal 2016, based on estimated future revenues, gross margins or other milestones. Contingent consideration liabilities are included in Other current liabilities and Other non-current liabilities on the Company's Condensed Consolidated Balance Sheets.

Additional Fair Value Information Relating To The Company's Financial Instruments Outstanding

The following table provides additional fair value information relating to the Company’s financial instruments outstanding:



	Carrying Amount		Fair Value		Carrying Amount		Fair Value
As of	First Quarter of Fiscal 2016				Fiscal Year End 2015
(Dollars in millions)
Assets:
Cash and cash equivalents	$	174.7	$	174.7	$	116.0	$	116.0
Liabilities:
Notes	$	400.0	$	409.2	$	400.0	$	399.9
2014 Credit Facility	144.0		144.0		216.0		216.0
Uncommitted facilities	135.0		135.0		118.0		118.0
Promissory notes and other debt	1.3		1.3		1.2		1.2