Fair Value Measurements (Tables)

12 Months Ended

Jan. 03, 2020

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.



At the End of Fiscal Year	2019								2018
(In millions)	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
Assets
Deferred compensation plan assets (1)	$	36.2	$	—	$	—	$	36.2	$	28.5	$	—	$	—	$	28.5
Derivative assets (2)	—		0.3		—		0.3		—		0.4		—		0.4
Total assets measured at fair value	$	36.2	$	0.3	$	—	$	36.5	$	28.5	$	0.4	$	—	$	28.9
Liabilities
Deferred compensation plan liabilities (1)	$	36.2	$	—	$	—	$	36.2	$	28.5	$	—	$	—	$	28.5
Derivative liabilities (2)	—		1.0		—		1.0		—		—		—		—
Contingent consideration liabilities (3)	—		—		19.9		19.9		—		—		5.6		5.6
Total liabilities measured at fair value	$	36.2	$	1.0	$	19.9	$	57.1	$	28.5	$	—	$	5.6	$	34.1

(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 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 Consolidated Balance Sheets.

(3)

Contingent consideration liabilities represent arrangements to pay the former owners of certain companies that Trimble acquired. The undiscounted maximum payment under the arrangements is $33.7 million at the end of fiscal 2019. The fair values are estimated using scenario-based methods or option pricing methods based upon estimated future revenue, gross margin, or other milestones. At the end of fiscal 2019, the Company had $13.7 million included in Other current liabilities and $6.2 million included in Other non-current liabilities on the Company's Consolidated Balance Sheets.