COMMITMENTS AND GUARANTEES (Tables)

12 Months Ended

Jan. 03, 2015

Commitments and Contingencies Disclosure [Abstract]

Summary of Company's Future Commitments

The following is a summary of the Company’s future commitments which span more than one future fiscal year:

(Millions of Dollars)	Total		2015		2016		2017		2018		2019		Thereafter
Operating lease obligations	$	330.5	$	83.9	$	65.1	$	51.8	$	40.8	$	30.9	$	58.0
Marketing commitments	76.9		26.1		24.4		20.3		5.0		1.1		—
Total	$	407.4	$	110.0	$	89.5	$	72.1	$	45.8	$	32.0	$	58.0

Summary of Guarantees

The Company's financial guarantees at January 3, 2015 are as follows:

(Millions of Dollars)	Term	Maximum Potential Payment		Carrying Amount of Liability
Guarantees on the residual values of leased properties	One to four years	$	34.4	$	—
Standby letters of credit	Up to three years	90.5		—
Commercial customer financing arrangements	Up to six years	38.9		13.1
Total		$	163.8	$	13.1

Summary of Warranty Liability Activity

Following is a summary of the warranty liability activity for the years ended January 3, 2015, December 28, 2013, and December 29, 2012:

(Millions of Dollars)	2014			2013			2012
Balance beginning of period	$	121.1		$	123.2		$	124.8
Warranties and guarantees issued	98.0			92.9			86.3
Liability assumed from acquisitions	—			0.1			0.2
Warranty payments and currency	(109.5		)	(95.1		)	(88.1		)
Balance end of period	$	109.6		$	121.1		$	123.2