ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)

6 Months Ended

Jul. 02, 2022

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

(Millions of Dollars)	July 2, 2022		January 1, 2022
Trade accounts receivable	$	1,522.0	$	1,398.2
Trade notes receivable	69.6		75.3
Other accounts receivable	102.7		104.1
Gross accounts and notes receivable	$	1,694.3	$	1,577.6
Allowance for credit losses	(102.2)		(95.9)
Accounts and notes receivable, net	$	1,592.1	$	1,481.7

Accounts Receivable, Allowance for Credit Loss

The changes in the allowance for credit losses for the three and six months ended July 2, 2022 and July 3, 2021 are as follows:

	Second Quarter				Year-to-Date
(Millions of Dollars)	2022		2021		2022		2021
Beginning Balance	$	107.8	$	109.3	$	95.9	$	106.2
Charged To Costs and Expenses	3.3		(4.9)		14.4		(2.7)
Other, including recoveries and deductions (a)	(8.9)		(1.3)		(8.1)		(0.4)
Balance end of period	$	102.2	$	103.1	$	102.2	$	103.1

(a) Amounts represent charge-offs less recoveries, the impacts of foreign currency translation, acquisitions and net transfers to/from other accounts.