Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 02, 2022	Jan. 01, 2022
Current assets:
Cash and cash equivalents	$ 164.8	$ 162.7
Trade accounts receivable, less allowances of $35.6 and $33 at July 2, 2022 and January 1, 2022, respectively	1,565.1	1,424.5
Inventories	990.1	907.2
Other current assets	228.8	240.2
Total current assets	2,948.8	2,734.6
Property, plant and equipment, net	1,451.0	1,477.7
Goodwill	1,856.0	1,881.5
Other intangibles resulting from business acquisitions, net	882.6	911.4
Deferred tax assets	119.9	130.2
Other assets	834.1	836.2
Total Assets	8,092.4	7,971.6
Current liabilities:
Short-term borrowings and current portion of long-term debt and finance leases	738.6	318.8
Accounts payable	1,410.9	1,298.8
Accrued payroll and employee benefits	220.5	299.0
Other current liabilities	630.5	631.3
Total current liabilities	3,000.5	2,547.9
Long-term debt and finance leases	2,493.4	2,785.9
Long-term retirement benefits and other liabilities	433.7	474.9
Deferred tax liabilities and income taxes payable	227.9	238.5
Commitments and contingencies (see Note 11)
Shareholders’ equity:
Common stock, $1 par value per share, authorized – 400,000,000 shares at July 2, 2022 and January 1, 2022; issued – 124,126,624 shares at July 2, 2022 and January 1, 2022; outstanding – 81,373,833 shares and 82,605,953 shares at July 2, 2022 and January 1, 2022, respectively	124.1	124.1
Capital in excess of par value	855.9	862.3
Retained earnings	4,182.0	3,880.7
Treasury stock at cost, 42,752,791 shares and 41,520,671 shares at July 2, 2022 and January 1, 2022, respectively	(2,914.0)	(2,659.8)
Accumulated other comprehensive loss	(311.1)	(282.9)
Total shareholders’ equity	1,936.9	1,924.4
Liabilities and Shareholders’ Equity	$ 8,092.4	$ 7,971.6