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SELECTED QUARTERLY FINANCIAL DATA (unaudited) (Tables)
 12 Months Ended
Jan. 01, 2022
Quarterly Financial Data [Abstract]  
Quarterly Financial Information
 Quarter 
(Millions of Dollars, except per share amounts)FirstSecondThirdFourthYear
2021
Net Sales$3,803.5 $3,880.0 $3,865.4 $4,068.3 $15,617.2 
Gross profit1,413.7 1,386.4 1,241.6 1,152.5 5,194.2 
Selling, general and administrative (1)
731.3 778.5 783.8 946.8 3,240.4 
Net earnings from continuing operations470.4 442.7 394.0 291.5 1,598.6 
Less: Net losses attributable to non-controlling interest(0.6)(1.0)(0.1)— (1.7)
Less: Preferred stock dividends and beneficial conversion feature9.4 4.8 — — 14.2 
Net Earnings from Continuing Operations Attributable to Common Shareowners$461.6 $438.9 $394.1 $291.5 $1,586.1 
Add: Contract adjustment payments accretion0.2 0.3 0.4 0.4 1.3 
Net earnings from Continuing Operations Attributable to Common Shareowners - Diluted$461.8 $439.2 $394.5 $291.9 $1,587.4 
Net earnings from discontinued operations16.4 15.7 20.1 36.7 88.9 
Net Earnings Attributable to Common Shareowners - Diluted$478.2 $454.9 $414.6 $328.6 $1,676.3 
Basic earnings per share of common stock:
Continuing operations$2.93 $2.77 $2.47 $1.83 $9.99 
Discontinued operations$0.10 $0.10 $0.13 $0.23 $0.56 
Total basic earnings per share of common stock$3.04 $2.87 $2.60 $2.06 $10.55 
Diluted earnings per share of common stock
Continuing operations$2.81 $2.66 $2.39 $1.77 $9.62 
Discontinued operations$0.10 $0.09 $0.12 $0.22 $0.54 
Total diluted earnings per share of common stock$2.91 $2.75 $2.51 $1.99 $10.16 
2020
Net Sales$2,760.6 $2,806.3 $3,488.1 $4,002.7 $13,057.7 
Gross profit882.7 886.5 1,231.9 1,404.3 4,405.4 
Selling, general and administrative (1)
630.6 618.3 632.1 747.5 2,628.5 
Net earnings from continuing operations124.3 241.0 373.6 447.0 1,185.9 
Less: Net (losses) earnings attributable to non-controlling interest(0.1)0.3 0.3 0.4 0.9 
Less: Preferred stock dividends and beneficial conversion feature0.5 4.9 9.4 9.3 24.1 
Net Earnings from Continuing Operations Attributable to Common Shareowners$123.9 $235.8 $363.9 $437.3 $1,160.9 
Add: Contract adjustment payments accretion0.9 0.5 0.1 0.2 1.7 
Net earnings from Continuing Operations Attributable to Common Shareowners - Diluted$124.8 $236.3 $364.0 $437.5 $1,162.6 
Net earnings (losses) from discontinued operations8.8 (2.3)21.6 20.7 48.8 
Net Earnings Attributable to Common Shareowners - Diluted$133.6 $234.0 $385.6 $458.2 $1,211.4 
Basic earnings per share of common stock:
Continuing operations$0.82 $1.54 $2.33 $2.79 $7.53 
Discontinued operations$0.06 $(0.01)$0.14 $0.13 $0.32 
Total basic earnings per share of common stock$0.88 $1.52 $2.47 $2.92 $7.85 
Diluted earnings per share of common stock
Continuing operations$0.77 $1.46 $2.24 $2.68 $7.16 
Discontinued operations$0.05 $(0.01)$0.13 $0.13 $0.30 
Total diluted earnings per share of common stock$0.83 $1.45 $2.37 $2.80 $7.46 
(1) Includes provision for credit losses. The net impact of the above items and effect on diluted earnings per share by quarter was as follows: 
Acquisition-Related Charges & Other  Diluted EPS Impact
• Q1 2021 —   $24 million loss ($18 million after-tax and equity interest)
  
$(0.11) per diluted share
• Q2 2021 —   $33 million loss ($36 million after-tax and equity interest)
  
$(0.22) per diluted share
• Q3 2021 —   $33 million loss ($26 million after-tax and equity interest)
  
$(0.15) per diluted share
• Q4 2021 —   $105 million loss ($62 million after-tax and equity interest)
  
$(0.37) per diluted share
The net impact of the above items and effect on diluted earnings per share by quarter was as follows: 
Acquisition-Related Charges & OtherDiluted EPS Impact
• Q1 2020 —   $47 million loss ($38 million after-tax and equity interest)
$(0.24) per diluted share
• Q2 2020 —   $135 million loss ($13 million benefit after-tax and equity interest)
$0.08 per diluted share
• Q3 2020 —   $78 million loss ($62 million after-tax and equity interest)
$(0.38) per diluted share
• Q4 2020 —   $66 million loss ($56 million after-tax and equity interest)
$(0.34) per diluted share