LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Jan. 01, 2022

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

Long-term debt and financing arrangements at January 1, 2022 and January 2, 2021 were as follows:

		January 1, 2022												January 2, 2021
(Millions of Dollars)	Interest Rate	Original Notional		Unamortized Discount		Unamortized Gain (Loss) Terminated Swaps1		Purchase Accounting FV Adjustment		Deferred Financing Fees		Carrying Value		Carrying Value
Notes payable due 2026	3.40%	500.0		(0.4)		—		—		(1.8)		497.8		497.2
Notes payable due 2026	3.42%	25.0		—		—		—		(0.1)		24.9		—
Notes payable due 2026	1.84%	28.5		—		—		—		(0.1)		28.4		—
Notes payable due 2028	7.05%	150.0		—		7.1		6.8		—		163.9		166.1
Notes payable due 2028	4.25%	500.0		(0.3)		—		—		(2.9)		496.8		496.2
Notes payable due 2028	3.52%	50.0		—		—		—		(0.1)		49.9		—
Notes payable due 2030	2.30%	750.0		(2.0)		—		—		(4.3)		743.7		742.9
Notes payable due 2040	5.20%	400.0		(0.2)		(27.5)		—		(2.6)		369.7		368.1
Notes payable due 2048	4.85%	500.0		(0.5)		—		—		(4.9)		494.6		494.3
Notes payable due 2050	2.75%	750.0		(1.9)		—		—		(8.1)		740.0		739.9
Notes payable due 2060 (junior subordinated)	4.00%	750.0		—		—		—		(9.1)		740.9		740.7
Other, payable in varying amounts 2022 through 2027	3.47%-4.31%	4.3		—		—		—		—		4.3		—
Total long-term debt, including current maturities		$	4,407.8	$	(5.3)	$	(20.4)	$	6.8	$	(34.0)	$	4,354.9	$	4,245.4
Less: Current maturities of long-term debt												(1.3)		—
Long-term debt												$	4,353.6	$	4,245.4

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