ACCOUNTS AND NOTES RECEIVABLE (Tables)

12 Months Ended

Jan. 01, 2022

Receivables [Abstract]

Accounts and Financing Receivable

(Millions of Dollars)	2021		2020
Trade accounts receivable	$	1,484.5	$	1,136.2
Trade notes receivable	75.3		73.5
Other accounts receivable	104.1		65.7
Gross accounts and notes receivable	1,663.9		1,275.4
Allowance for credit losses	(103.1)		(110.9)
Accounts and notes receivable, net	$	1,560.8	$	1,164.5

Accounts Receivable, Allowance for Credit Loss

The changes in the allowance for credit losses for the years ended January 1, 2022 and January 2, 2021 are as follows:

(Millions of Dollars)	2021		2020
Beginning Balance	$	110.9	$	94.1
Cumulative Effect Adjustment (a)	—		1.1
Charged To Costs and Expenses	3.9		29.0
Charged To Other Accounts (b)	3.9		7.4
Deductions (c)	(15.6)		(20.7)
Balance end of period	$	103.1	$	110.9

(a) Represents the cumulative-effect adjustment to opening retained earnings due to the adoption of ASU 2016-13.

(b) Amounts represent the impacts of foreign currency translation, acquisitions and net transfers to/from other accounts.

(c) Amounts represent charge-offs less recoveries of accounts previously charged-off.