Fair Value Measurements (Tables)

6 Months Ended

Jul. 02, 2011

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis for Each of the Hierarchy Levels

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, 2011:
Assets:
Money market fund		$	1,016.7		$	1,016.7		$	—		$—
Investment in common stock of Niscayah		$	61.5		$	61.5		$	—		$—
Derivative assets		$	55.0		$	—		$	55.0		$—
Liabilities:
Derivative liabilities		$	121.7		$	—		$	121.7		$—
January 1, 2011:
Assets:
Money market fund		$	716.7		$	716.7		$	—		$—
Derivative assets		$	55.0		$	—		$	55.0		$—
Liabilities:
Derivative liabilities		$	115.7		$	—		$	115.7		$—

Summary of Financial Instruments Carrying and Fair Values

A summary of the Company’s financial instruments carrying and fair values at July 2, 2011 and January 1, 2011 follows. Refer to Note I, Derivative Financial Instruments for more details regarding derivative financial instruments, and Note H, Long-Term Debt and Financing Arrangements, for more information regarding carrying values of the Long-term debt shown below.

		Carrying		Carrying		Carrying		Carrying
	July 2, 2011				January 1, 2011
(millions of dollars)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Derivative assets	$	55.0	$	55.0	$	55.0	$	55.0
Liabilities:
Long-term debt, including current portion	$	3,046.0	$	3,287.2	$	3,434.2	$	3,607.1
Derivative liabilities	$	121.7	$	121.7	$	115.7	$	115.7