ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Jan. 01, 2022

Accumulated Other Comprehensive Income (Loss) [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in the accumulated balances for each component of Accumulated other comprehensive loss:

(Millions of Dollars)	Currency translation adjustment and other		(Losses) gains on cash flow hedges, net of tax		Gains (losses) on net investment hedges, net of tax		Pension (losses) gains, net of tax		Total
Balance - December 28, 2019	$	(1,517.2)	$	(54.2)	$	97.3	$	(410.5)	$	(1,884.6)
Other comprehensive income (loss) before reclassifications	266.2		(64.2)		(10.7)		(53.4)		137.9
Adjustments related to sales of businesses	15.7		—		—		0.6		16.3
Reclassification adjustments to earnings	—		15.4		(13.8)		15.1		16.7
Net other comprehensive income (loss)	281.9		(48.8)		(24.5)		(37.7)		170.9
Balance - January 2, 2021	$	(1,235.3)	$	(103.0)	$	72.8	$	(448.2)	$	(1,713.7)
Other comprehensive (loss) income before reclassifications	(307.7)		36.2		2.9		107.0		(161.6)
Reclassification adjustments to earnings	—		17.0		(3.9)		16.6		29.7
Net other comprehensive (loss) income	(307.7)		53.2		(1.0)		123.6		(131.9)
Balance - January 1, 2022	$	(1,543.0)	$	(49.8)	$	71.8	$	(324.6)	$	(1,845.6)

Reclassification out of Accumulated Other Comprehensive Income

The reclassifications out of Accumulated other comprehensive loss for the twelve months ended January 1, 2022 and January 2, 2021 were as follows:

(Millions of Dollars)	2021		2020
Components of accumulated other comprehensive loss	Reclassification adjustments		Reclassification adjustments		Affected line item in Consolidated Statements of Operations
Realized (losses) gains on cash flow hedges	$	(26.1)	$	12.4	Cost of sales
Realized losses on cash flow hedges	—		(19.6)		Other, net
Realized losses on cash flow hedges	(3.9)		(16.3)		Interest expense
Total before taxes	$	(30.0)	$	(23.5)
Tax effect	13.0		8.1		Income taxes
Realized losses on cash flow hedges, net of tax	$	(17.0)	$	(15.4)
Realized gains on net investment hedges	$	5.2	$	18.2	Other, net
Tax effect	(1.3)		(4.4)		Income taxes
Realized gains on net investment hedges, net of tax	$	3.9	$	13.8
Actuarial losses and prior service costs / credits	(21.0)		(19.5)		Other, net
Settlement losses	(1.1)		(0.6)		Other, net
Total before taxes	(22.1)		(20.1)
Tax effect	5.5		5.0		Income taxes
Amortization of defined benefit pension items, net of tax	$	(16.6)	$	(15.1)