LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)

9 Months Ended

Sep. 26, 2020

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

Long-term debt and financing arrangements at September 26, 2020 and December 28, 2019 are as follows:

		September 26, 2020												December 28, 2019
(Millions of Dollars)	Interest Rate	Original Notional		Unamortized Discount		Unamortized Gain/(Loss) Terminated Swaps 1		Purchase Accounting FV Adjustment		Deferred Financing Fees		Carrying Value		Carrying Value
Notes payable due 2021	3.40%	$	400.0	$	—	$	4.1			$	(0.4)	$	403.7	$	406.0
Notes payable due 2022	2.90%	754.3		(0.1)		—		—		(1.3)		752.9		752.3
Notes payable due 2026	3.40%	500.0		(0.6)		—		—		(2.5)		496.9		496.5
Notes payable due 2028	7.05%	150.0		—		8.5		8.2		—		166.7		168.3
Notes payable due 2028	4.25%	500.0		(0.3)		—		—		(3.6)		496.1		495.8
Notes payable due 2030	2.30%	750.0		(2.3)		—		—		(5.0)		742.7		—
Notes payable due 2040	5.20%	400.0		(0.2)		(29.4)		—		(2.7)		367.7		366.5
Notes payable due 2048	4.85%	500.0		(0.5)		—		—		(5.2)		494.3		494.1
Notes payable due 2060 (junior subordinated)	4.00%	750.0		—		—		—		(9.4)		740.6		—
Total long-term debt, including current maturities		$	4,704.3	$	(4.0)	$	(16.8)	$	8.2	$	(30.1)	$	4,661.6	$	3,179.5
Less: Current maturities of long-term debt												(3.1)		(3.1)
Long-term debt												$	4,658.5	$	3,176.4

¹Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note I, Financial Instruments.