FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jul. 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
July 2, 2022
Money market fund	$	10.9	$	10.9	$	—	$	—
Equity Security	$	6.4	$	6.4	$	—	$	—
Deferred compensation plan investments	$	19.3	$	19.3	$	—	$	—
Derivative assets	$	29.3	$	—	$	29.3	$	—
Derivative liabilities	$	8.5	$	—	$	8.5	$	—
Contingent consideration liability	$	284.7	$	—	$	—	$	284.7
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:

	July 2, 2022				January 1, 2022
(Millions of Dollars)	Carrying Value		Fair Value		Carrying Value		Fair Value
Other investments	$	9.3	$	9.4	$	11.2	$	11.6
Long-term debt, including current portion	$	5,353.0	$	4,949.6	$	4,354.9	$	4,850.2