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Financial Instruments (Tables)
 6 Months Ended
Jul. 01, 2017
Investments, All Other Investments [Abstract]  
Fair Values of Derivative Instruments Included within Condensed Consolidated Balance Sheets

The fair value of derivative instruments included within the Condensed Consolidated Balance Sheets as of July 1, 2017, and December 31, 2016, are as follows:

 

            July 1, 2017      December 31, 2016  
(Amounts in millions)    Balance Sheet
Presentation		      Asset
Derivatives
Fair Value		      Liability
Derivatives
Fair Value		      Asset
Derivatives
Fair Value		      Liability
Derivatives
Fair Value		  
Derivatives designated
as hedging instruments:		               

Interest rate swaps

      Other assets          $ 9.5              $     –                  $     9.8              $     –          

Treasury locks

      Other assets        –                –                14.3            –          
     

 

 

     

 

 

     

 

 

     

 

 

  
        9.5            –                24.1            –          
     

 

 

     

 

 

     

 

 

     

 

 

  
Derivatives not designated as hedging instruments:               

Foreign currency forwards

      Prepaid expenses and other assets          $ 11.3              $     –                  $     4.4              $     –          

Foreign currency forwards

      Other accrued liabilities        –                3.0            –                13.5      

Equity forwards

      Prepaid expenses and other assets        17.1            –                17.9            –          
     

 

 

     

 

 

     

 

 

     

 

 

  

Total

         28.4            3.0            22.3            13.5      
     

 

 

     

 

 

     

 

 

     

 

 

  

Total derivative instruments

           $     37.9              $     3.0              $     46.4              $     13.5      
     

 

 

     

 

 

     

 

 

     

 

 

  
Derivative Instruments Designated as Fair Value Hedges Included in Condensed Consolidated Statements of Earnings

The effect of derivative instruments designated as fair value hedges as included in the Condensed Consolidated Statements of Earnings is as follows:

 

            Effective Portion of Gain Recognized in Income  
            Three months ended      Six months ended  
(Amounts in millions)    Statement of Earnings
Presentation		      July 1,
2017		      July 2,
2016		      July 1,
2017		      July 2,
2016		  
Derivatives designated as fair value hedges:               

Interest rate swaps

      Interest expense                      $     0.7                  $     0.8                  $     1.4                  $     1.5          
Effect of Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI on Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Earnings

The effect of derivative instruments designated as cash flow hedges as included in Accumulated OCI on the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Earnings is as follows:

 

     Effective Portion of Gain
Recognized in
Accumulated OCI
Three months ended		      Statement of
Earnings
Presentation		      Effective Portion of Gain
Reclassified from Accumulated
OCI into Income
Three months ended		  
(Amounts in millions)    July 1,
2017		      July 2,
2016		         July 1,
2017		      July 2,
2016		  
Derivatives designated as cash flow hedges:               

Treasury locks

        $      –                  $     –                    Interest expense              $     0.4              $     0.1      

 

     Effective Portion of Gain
Recognized in
Accumulated OCI
Six months ended		      Statement of
Earnings
Presentation		      Effective Portion of Gain
Reclassified from Accumulated
OCI into Income
Six months ended		  
(Amounts in millions)    July 1,
2017		      July 2,
2016		         July 1,
2017		      July 2,
2016		  
Derivatives designated as cash flow hedges:               

Treasury locks

        $     6.1                  $     –                    Interest expense              $     0.7              $     0.2      
Derivative Instruments Not Designated as Hedges Included in Condensed Consolidated Statements of Earnings

The effects of derivative instruments not designated as hedging instruments as included in the Condensed Consolidated Statements of Earnings are as follows:

 

                 Gain (Loss) Recognized in Income  
              Three months ended      Six months ended  
(Amounts in millions)    Statement of Earnings
Presentation		        July 1,
2017		      July 2,
2016		      July 1,
2017		      July 2,
2016		  
Derivatives not designated as hedging instruments:                 

Foreign currency forwards

        Other income (expense) – net            $     6.0           $     (5.0)          $     (3.9)          $     (4.2)    

Equity forwards

        Operating expenses          (1.1)          (0.1)          (1.3)          (0.7)    
Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements

Fair Value of Financial Instruments: The fair values of financial instruments that do not approximate the carrying values in the financial statements are as follows:

 

     July 1, 2017      December 31, 2016  
(Amounts in millions)    Carrying
Value		      Fair
Value		      Carrying
Value		      Fair
Value		  

Finance receivables – net

        $        1,495.1              $        1,735.1              $     1,407.0              $     1,631.2      

Contract receivables – net

      381.8            419.3            374.8            409.7      

Long-term debt, notes payable and current maturities of long-term debt

      1,105.8            1,116.5            1,010.2            1,076.7