FAIR VALUES (Tables)

9 Months Ended

Oct. 05, 2013

FAIR VALUES [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

In accordance with the fair value hierarchy described above, the following table shows the fair value of our financial assets and liabilities that are required to be measured at fair value on a recurring basis at September 29, 2012, December 31, 2012 and October 5, 2013.

(In millions) Description	Classification	Total Value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobserv-able inputs (Level 3)
September 29, 2012:
Rabbi Trust assets	Prepaid expenses and other current assets	$	8.2	$	8.2	$	-	$	-
British Pound – U.S. Dollar forward contracts	Prepaid expenses and other current assets		0.1		-		0.1		-
Interest rate cap	Other long-term assets		-		-		-		-
Total assets		$	8.3	$	8.2	$	0.1	$	-
Rabbi Trust liabilities	Accrued employee compensation and benefits	$	8.2	$	8.2	$	-	$	-
Canadian Dollar – U.S. Dollar forward contracts	Accrued expenses and other current liabilities		0.1		-		0.1		-
Deferred director fees	Accrued expenses and other current liabilities		0.2		0.2		-		-
Acquisition consideration	Current portion of acquisition consideration payable		230.2		-		-		230.2
Acquisition consideration	Acquisition consideration payable, net of current portion		5.0		-		-		5.0
Total liabilities		$	243.7	$	8.4	$	0.1	$	235.2
December 31, 2012:
Rabbi Trust assets	Prepaid expenses and other current assets	$	8.4	$	8.4	$	-	$	-
Interest rate cap	Other long-term assets		-		-		-		-
British Pound – U.S. Dollar forward contracts	Prepaid expenses and other current assets		-		-		-		-
Canadian Dollar – U.S. Dollar forward contracts	Prepaid expenses and other current assets		0.2		-		0.2		-
Total assets		$	8.6	$	8.4	$	0.2	$	-
Rabbi Trust liabilities	Accrued employee compensation and benefits	$	8.4	$	8.4	$	-	$	-
Deferred director fees	Accrued expenses and other current liabilities		0.2		0.2		-		-
Acquisition consideration	Current portion of acquisition consideration payable		30.3		-		-		30.3
Acquisition consideration	Acquisition consideration payable, net of current portion		6.0		-		-		6.0
Total liabilities		$	44.9	$	8.6	$	-	$	36.3
October 5, 2013:
Rabbi Trust assets	Prepaid expenses and other current assets	$	8.4	$	8.4	$	-	$	-
British Pound – U.S. Dollar forward contracts	Prepaid expenses and other current assets		0.1		-		0.1		-
Canadian Dollar – U.S. Dollar forward contracts	Prepaid expenses and other current assets		0.1		-		0.1		-
Interest rate swaps	Other long-term assets		2.7		-		2.7		-
Interest rate cap	Other long-term assets		-		-		-		-
Total assets		$	11.3	$	8.4	$	2.9	$	-
Rabbi Trust liabilities	Accrued employee compensation and benefits	$	8.4	$	8.4	$	-	$	-
Deferred director fees	Accrued expenses and other current liabilities		0.3		0.3		-		-
Interest rate swap	Other long-term liabilities		0.4		-		0.4		-
Hedged portion of 6.875% Senior Notes due 2019	Long-term debt		338.3		-		338.3		-
Acquisition consideration	Current portion of acquisition consideration payable		2.4		-		-		2.4
Acquisition consideration	Acquisition consideration payable, net of current portion		4.0		-		-		4.0
Total liabilities		$	353.8	$	8.7	$	338.7	$	6.4

Changes in Level 3 contingent consideration liability

The following table presents the changes in Level 3 contingent consideration liability for the fiscal nine months ended September 29, 2012 and October 5, 2013.

(In millions)	Acquisition of Moda			Acquisition of SWH			Total Acquisition Consideration Payable
Beginning balance, January 1, 2012	$	14.8		$	195.6		$	210.4
Payments		(3.5	)		(15.7	)		(19.2	)
Total adjustments included in earnings		(3.8	)		47.8			44.0
Balance, September 29, 2012	$	7.5		$	227.7		$	235.2
Beginning balance, January 1, 2013	$	7.4		$	28.9		$	36.3
Payments		(2.5	)		(27.4	)		(29.9	)
Total adjustments included in earnings		0.5			(0.5	)		-
Balance, October 5, 2013	$	5.4		$	1.0		$	6.4

Quantitative information about Level 3 contingent consideration liability measurements

The following table represents quantitative information about the Level 3 contingent consideration liability measurement for the acquisition of Moda at October 5, 2013.

(In millions)	Fair Value at October 5, 2013		Valuation technique	Unobservable inputs	Range (Weighted Average)
Acquisition of Moda	$	5.4	Discounted projection of financial results	Net sales growth Gross margin multiplier Discount rate	14% - 46% (32.8%) 1.31 – 1.38 (1.34) 12.0%

Fair Value Measurements, Assets and Liabilities Measured on a Nonrecurring Basis

In accordance with the fair value hierarchy described above, the following table shows the fair value of our non-financial assets and liabilities that were required to be measured at fair value on a nonrecurring basis at September 29, 2012 and October 5, 2013, and the total losses recorded as a result of the remeasurement process.

(In millions)				Fair Value Measurements Using
Description	Carrying Value			Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobserv-able inputs (Level 3)			Total losses recorded for the fiscal nine months
At September 29, 2012:
Property and equipment		$	-		$	-		$	-		$	-		$	0.4
At October 5, 2013:
Property and equipment			0.8			-			-			0.8			6.9

Fair value of financial assets and liabilities

At October 5, 2013, September 29, 2012 and December 31, 2012, the fair values of cash and cash equivalents, receivables and accounts payable approximated their carrying values due to the short-term nature of these instruments.  The estimated fair values of other financial instruments subject to fair value disclosures were valued using market comparable inputs.  These inputs include broker quotes, quoted market prices, interest rates and exchange rates for the same or similar instruments.  The fair value and related carrying amounts for items not disclosed elsewhere are as follows:

(In millions)	October 5, 2013								September 29, 2012						December 31, 2012
	Fair Value Level		Carrying Amount			Fair Value			Carrying Amount			Fair Value			Carrying Amount			Fair Value
Senior Notes, including hedged items recorded at fair value		1		$	921.3		$	861.4		$	926.2		$	879.6		$	924.3		$	884.5
Other long-term debt, including current portion		2			10.0			9.1			10.2			9.3			10.2			9.3
Notes receivable		2			7.1			6.3			-			-			-			-