LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)

9 Months Ended

Oct. 02, 2021

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

Long-term debt and financing arrangements at October 2, 2021 and January 2, 2021 are as follows:

		October 2, 2021												January 2, 2021
(Millions of Dollars)	Interest Rate	Original Notional		Unamortized Discount		Unamortized Gain/(Loss) Terminated Swaps 1		Purchase Accounting FV Adjustment		Deferred Financing Fees		Carrying Value		Carrying Value
Notes payable due 2026	3.40%	$	500.0	$	(0.5)	$	—	$	—	$	(1.9)	$	497.6	$	497.2
Notes payable due 2028	7.05%	150.0		—		7.4		7.1		—		164.5		166.1
Notes payable due 2028	4.25%	500.0		(0.3)		—		—		(3.1)		496.6		496.2
Notes payable due 2030	2.30%	750.0		(2.1)		—		—		(4.4)		743.5		742.9
Notes payable due 2040	5.20%	400.0		(0.2)		(27.9)		—		(2.6)		369.3		368.1
Notes payable due 2048	4.85%	500.0		(0.5)		—		—		(5.0)		494.5		494.3
Notes payable due 2050	2.75%	750.0		(1.9)		—		—		(8.1)		740.0		739.9
Notes payable due 2060 (junior subordinated)	4.00%	750.0		—		—		—		(9.1)		740.9		740.7
Long-term debt2		$	4,300.0	$	(5.5)	$	(20.5)	$	7.1	$	(34.2)	$	4,246.9	$	4,245.4

1Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note I, Financial Instruments.

2There are no current maturities of long-term debt.