FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Apr. 02, 2022

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis for each of the hierarchy levels:

(Millions of Dollars)	Total Carrying Value		Level 1		Level 2		Level 3
April 2, 2022
Money market fund	$	12.7	$	12.7	$	—	$	—
Equity Security	$	7.7	$	7.7			$	—
Deferred compensation plan investments	$	23.7	$	23.7	$	—	$	—
Derivative assets	$	29.9	$	—	$	29.9	$	—
Derivative liabilities	$	11.8	$	—	$	11.8	$	—
Contingent consideration liability	$	289.3	$	—	$	—	$	289.3
January 1, 2022
Money market fund	$	11.0	$	11.0	$	—	$	—
Equity Security	$	13.8	$	13.8	$	—	$	—
Deferred compensation plan investments	$	26.2	$	26.2	$	—	$	—
Derivative assets	$	33.1	$	—	$	33.1	$	—
Derivative liabilities	$	8.7	$	—	$	8.7	$	—
Contingent consideration liability	$	288.6	$	—	$	—	$	288.6

Summary of Financial Instruments Carrying and Fair Values

The following table provides information about the Company's financial assets and liabilities not carried at fair value:

	April 2, 2022				January 1, 2022
(Millions of Dollars)	Carrying Value		Fair Value		Carrying Value		Fair Value
Other investments	$	9.3	$	9.5	$	11.2	$	11.6
Long-term debt	$	5,356.7	$	5,401.5	$	4,354.9	$	4,850.2