Financial Instruments (Tables)

9 Months Ended

Oct. 01, 2016

Investments, All Other Investments [Abstract]

Fair Values of Derivative Instruments Included within Condensed Consolidated Balance Sheets

The fair values of derivative instruments included within the Condensed Consolidated Balance Sheets as of October 1, 2016, and January 2, 2016, are as follows:


		October 1, 2016				January 2, 2016
(Amounts in millions)	Balance Sheet Presentation	Asset Derivatives Fair Value		Liability Derivatives Fair Value		Asset Derivatives Fair Value		Liability Derivatives Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps	Other assets	$	13.7	$	–	$	12.9	$	–


Derivatives not designated as hedging instruments:
Foreign currency forwards	Prepaid expenses and other assets	$	1.9	$	–	$	2.8	$	–
Foreign currency forwards	Other accrued liabilities		–		2.3		–		5.9
Equity forwards	Prepaid expenses and other assets		16.9		–		18.5		–

Total		$	18.8	$	2.3	$	21.3	$	5.9

Total derivatives instruments		$	32.5	$	2.3	$	34.2	$	5.9

Derivative Instruments Designated as Fair Value Hedges Included in Condensed Consolidated Statements of Earnings

The effect of derivative instruments designated as fair value hedges as included in the Condensed Consolidated Statements of Earnings is as follows:


		Effective Portion of Gain Recognized in Income
		Three Months Ended				Nine Months Ended
(Amounts in millions)	Statement of Earnings Presentation	October 1, 2016		October 3, 2015		October 1, 2016		October 3, 2015
Derivatives designated as fair value hedges:
Interest rate swaps	Interest expense	$	0.4	$	0.8	$	1.9	$	2.8

Effect of Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI on Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Earnings

The effect of derivative instruments designated as cash flow hedges as included in Accumulated OCI on the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Earnings is as follows:

Effective Portion of Gain
Recognized in
Accumulated OCI
Three Months Ended

Statement of

Earnings

Presentation

Effective Portion of Gain
Reclassified from Accumulated
OCI into Income
Three Months Ended

(Amounts in millions)

October 1,
2016

October 3,
2015

October 1,
2016

October 3,
2015

Derivatives designated as cash flow hedges:

Treasury locks

–

Interest expense

0.1

Effective Portion of Gain
Recognized in
Accumulated OCI
Nine Months Ended

Statement of
Earnings
Presentation

Effective Portion of Gain
Reclassified from Accumulated
OCI into Income
Nine Months Ended

(Amounts in millions)

October 1,
2016

October 3,
2015

October 1,
2016

October 3,
2015

Derivatives designated as cash flow hedges:

Treasury locks

–

Interest expense

0.3

Derivative Instruments Not Designated as Hedges Included in Condensed Consolidated Statements of Earnings

The effects of derivative instruments not designated as hedging instruments as included in the Condensed Consolidated Statements of Earnings are as follows:


		Gain (Loss) Recognized in Income
		Three Months Ended				Nine Months Ended
(Amounts in millions)	Statement of Earnings Presentation	October 1, 2016		October 3, 2015		October 1, 2016		October 3, 2015
Derivatives not designated as hedging instruments:
Foreign currency forwards	Other income (expense) – net	$	(0.7)	$	(3.0)	$	(4.9)	$	(13.9)

Equity forwards	Operating expenses		(0.7)		(1.1)		(1.4)		2.1

Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements

Fair Value of Financial Instruments: The fair values of financial instruments that do not approximate the carrying values in the financial statements are as follows:


	October 1, 2016				January 2, 2016
(Amounts in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Finance receivables – net	$	1,374.2	$	1,592.0	$	1,220.0	$	1,381.9
Contract receivables – net		376.7		415.3		348.7		380.2

Long-term debt, notes payable and current maturities of long-term debt		896.0		981.7		880.1		961.1