109.0

Foreign currency translation

30.7

Changes in unrealized pension cost, net of tax

9.9

Issuance of common stock and related taxes, shares

18.1

300,000

Issuance of common stock and related taxes

(0.9)

$ 0.3

(1.2)

Common stock, shares issued at Dec. 29, 2017

33,700,000

Stockholders' equity at Dec. 29, 2017

1,459.0

$ 33.7

278.7

1,356.9

(210.3)

Tax related to unrealized pension cost

10.4

Foreign currency translation

156.3

(45.4)

Changes in unrealized pension cost, net of tax

(13.7)

Issuance of common stock and related taxes, shares

18.9

200,000

Issuance of common stock and related taxes

$ (4.7)

$ 0.2

(4.9)

Common stock, shares issued at Dec. 28, 2018

33,862,704

33,900,000

Stockholders' equity at Dec. 28, 2018

$ 1,570.4

$ 33.9

292.7

1,513.2

(269.4)

Tax related to unrealized pension cost

4.7

Foreign currency translation

262.9

23.1

Changes in unrealized pension cost, net of tax

(13.3)

Reclassification of tax effects

7.7

^[1]

(7.7)

^[1]

Issuance of common stock and related taxes, shares

20.0

300,000

Issuance of common stock and related taxes

$ (2.2)

$ 0.3

(2.5)

Common stock, shares issued at Jan. 03, 2020

34,214,795

34,200,000

Stockholders' equity at Jan. 03, 2020

$ 1,860.9

$ 34.2

$ 310.2

$ 1,783.8

$ (267.3)

Tax related to unrealized pension cost

$ (2.4)

[1]

The Company reclassified $7.7 million of tax benefits from "Accumulated other comprehensive loss" to "Retained earnings" for the tax effects resulting from the December 22, 2017 enactment of the Tax Cuts and Jobs Act in accordance with the adoption of Accounting Standards Update 2018-02, "Income Statement - Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" in the first quarter of 2019.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jan. 03, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization: Anixter International Inc. and its subsidiaries (collectively referred to as "Anixter" or the "Company"), formerly known as Itel Corporation, which was incorporated in Delaware in 1967, is a leading distributor of enterprise cabling and security solutions, electrical and electronic wire and cable solutions and utility power solutions through Anixter Inc. and its subsidiaries.

Basis of presentation: The Consolidated Financial Statements include the accounts of Anixter International Inc. and its subsidiaries. The Company's fiscal year ends on the Friday nearest December 31 and includes 53 weeks in 2019 and 52 weeks in 2018 and 2017. Certain prior period amounts have been reclassified to conform to the current year presentation.

Use of estimates: The preparation of financial statements in conformity with generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Anixter's significant estimates include allowance for doubtful accounts, inventory obsolescence, pension obligations, goodwill and indefinite-lived intangible assets, deferred tax assets and uncertain tax positions.

Cash and cash equivalents: Cash equivalents consist of short-term, highly liquid investments with an original maturity three months or less. Such investments are stated at cost, which approximates fair value.

Receivables and allowance for doubtful accounts: The Company carries its accounts receivable at their face amounts less an allowance for doubtful accounts, which was $30.4 million and $39.9 million at the end of 2019 and 2018, respectively. On a regular basis, Anixter evaluates its accounts receivable and establishes the allowance for doubtful accounts based on a combination of specific customer circumstances, as well as credit conditions and history of write-offs and collections. The amounts charged to income for doubtful accounts were $10.1 million, $8.5 million and $10.0 million in 2019, 2018 and 2017, respectively. A receivable is considered past due if payments have not been received within the agreed upon invoice terms. Receivables are written off and deducted from the allowance account when the receivables are deemed uncollectible.

Inventories: Inventories, consisting primarily of purchased finished goods, are stated at the lower of cost or market. Cost is determined using the average-cost method. The Company has agreements with some vendors that provide a right to return products. This right is typically limited to a small percentage of total purchases from that vendor. Such rights provide that Anixter can return slow-moving product and the vendor will replace it with faster-moving product chosen by the Company. Some vendor agreements contain price protection provisions that require the manufacturer to issue a credit in an amount sufficient to reduce Anixter's current inventory carrying cost down to the manufacturer’s current price. The Company considers these agreements in determining the reserve for obsolescence.

At January 3, 2020 and December 28, 2018, the Company reported inventory of $1,354.7 million and $1,440.4 million, respectively (net of inventory reserves of $50.0 million and $51.5 million, respectively). Each quarter the Company reviews for excess inventories and makes an assessment of the net realizable value. There are many factors that management considers in determining whether or not the amount by which a reserve should be established. These factors include the following:

•Return or rotation privileges with vendors

•Price protection from vendors

•Expected future usage

•Whether or not a customer is obligated by contract to purchase the inventory

•Current market pricing

•Historical consumption experience

•Risk of obsolescence

If circumstances related to the above factors change, there could be a material impact on the net realizable value of the inventories.

Property and equipment: At January 3, 2020, net property and equipment consisted of $126.0 million of equipment and computer software, $39.5 million of buildings and leasehold improvements, $8.4 million of finance leases and $1.0 million of land. At December 28, 2018, net property and equipment consisted of $125.8 million of equipment and computer software, $36.5 million of buildings and leasehold improvements and $1.0 million of land. Equipment and computer software are recorded at cost and depreciated by applying the straight-line method over their estimated useful lives, which range from 2 to 20 years. Buildings are recorded at cost and depreciated by applying the straight-line method over their estimated useful lives, which are up to 40 years. Leasehold improvements are depreciated over their useful life or over the term of the related lease, whichever is shorter. Upon sale or retirement, the cost and related depreciation are removed from the respective accounts and any gain or loss is included in income. Maintenance and repair costs are expensed as incurred. Depreciation expense, including an immaterial amount of finance lease depreciation, was $37.2 million, $31.7 million and $28.2 million in 2019, 2018 and 2017, respectively.

The Company evaluates the recoverability of the carrying amount of its property and equipment whenever events or circumstances indicate that the carrying amount of an asset may not be fully recoverable. In order to measure an impairment loss of property and equipment, the Company estimates the fair value by using an orderly liquidation valuation. An orderly liquidation value is the amount that could be realized from a liquidation sale, given a reasonable period of time to find a purchaser (or purchasers), with the seller being compelled to sell the asset in the existing condition where it is located, as of a specific date, assuming the highest and best use of the asset by market participants. The valuation method also considers that it is physically possible, legally permissible and financially feasible to use the asset at the measurement date. The inputs used for the valuation include significant unobservable inputs, or Level 3 inputs, as described in the accounting fair value hierarchy, based on assumptions that market participants would use. A second step of the analysis is performed by comparing the orderly liquidation value to the carrying amount of that asset. The orderly liquidation values are applied against the original cost of the assets and the impairment loss measured as the difference between the liquidation value of the assets and the net book value of the assets.

Costs for software developed for internal use are capitalized when the preliminary project stage is complete and Anixter has committed funding for projects that are likely to be completed. Costs that are incurred during the preliminary project stage are expensed as incurred. Once the capitalization criteria has been met, external direct costs of materials and services consumed in developing internal-use computer software, payroll and payroll-related costs for employees who are directly associated with and who devote time to the internal-use computer software project (to the extent of their time spent directly on the project) and interest costs incurred when developing computer software for internal use are capitalized. At January 3, 2020 and December 28, 2018, capitalized costs, net of accumulated amortization, for software developed for internal use were approximately $60.8 million and $64.7 million, respectively. Amortization expense charged to operations for capitalized costs was $7.2 million, $6.6 million and $5.5 million in 2019, 2018 and 2017, respectively. Interest expense incurred in connection with the development of internal use software is capitalized based on the amounts of accumulated expenditures and the weighted-average cost of borrowings for the period. Interest costs capitalized for fiscal 2019, 2018 and 2017 were $0.9 million, $0.1 million and $0.3 million, respectively.

Leases: The Company adopted Accounting Standards Update ("ASU") 2016-02, Leases, as of December 29, 2018. The adoption of this standard is discussed below within the section titled "Recently issued and adopted accounting pronouncements." At contract inception the Company determines if an arrangement is a lease. Operating leases are included in "Operating leases", "Current operating lease obligations" and "Operating lease obligations" on the Consolidated Balance Sheets. Finance leases are included in "Property and equipment, net", "Accrued expenses" and "Long-term debt" on the Consolidated Balance Sheets. The gross amount of the balances recorded related to finance leases was immaterial as of January 3, 2020, and December 28, 2018. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. Operating lease expense is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components and has elected to account for these components as a single lease component.

Operating lease assets and liabilities are recognized at the commencement date, based on the present value of the future minimum lease payments. A certain number of these leases contain rent escalation clauses either fixed or adjusted periodically for inflation or market rates that are factored into the Company's determination of lease payments. Anixter also has variable lease payments that do not depend on a rate or index, primarily for items such as common area maintenance and real estate taxes, which are recorded as variable expense when incurred. The operating lease asset includes advance payments and excludes incentives and initial direct costs incurred. As most of Anixter’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date to discount payments to the present value. Most operating leases contain renewal options, some of which also include options to early terminate the leases. The exercise of these options is at the Company's discretion. Lease terms include these options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

Goodwill: The Company evaluates goodwill for impairment annually at the beginning of the third quarter and when events or changes in circumstances indicate the carrying value of reporting units might exceed their current fair values. The Company assesses goodwill for impairment by first performing a qualitative assessment, which considers specific factors, based on the weight of evidence, and the significance of all identified events and circumstances in the context of determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying amount using the qualitative assessment, Anixter performs the two-step impairment test. The Company may also bypass the qualitative assessment and proceed directly to the two-step impairment test. The first step of the impairment test is to identify a potential impairment by comparing the fair value of a reporting unit with its carrying amount. The estimates of fair value of a reporting unit are determined using the income approach and the market approach as described below. If step one of the test indicates a carrying value above the estimated fair value, the second step of the goodwill impairment test is performed by comparing the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. The implied residual value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination.

The income approach is a quantitative evaluation to determine the fair value of the reporting unit. Under the income approach fair value is determined based on estimated future cash flows discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of the reporting unit and the rate of return a market participant would expect to earn. The inputs used for the income approach are significant unobservable inputs, or Level 3 inputs, as described in the accounting fair value hierarchy. Estimated future cash flows are based on internal projection models, industry projections and other assumptions deemed reasonable by management.

The market approach measures the fair value of a reporting unit through the analysis of recent sales, offerings, and financial multiples (earnings before interest, tax, depreciation and amortization ("EBITDA")) of comparable businesses, which would be considered Level 2 in the fair value hierarchy. Consideration is given to the financial conditions and operating performance of the reporting unit being valued relative to those publicly-traded companies operating in the same or similar lines of business.

In connection with the annual assessment of goodwill at the beginning of the third quarter of 2019, the Company bypassed the qualitative assessment and performed a quantitative test for all reporting units and utilized a combination of the income and market approaches. As a result of this assessment, the Company concluded that no impairment existed and the carrying amount of goodwill to be fully recoverable.

Intangible assets: As of January 3, 2020 and December 28, 2018, the Company's intangible asset balances are as follows:


		January 3, 2020						December 28, 2018
(In millions)	Average useful life (in years)	Gross carrying amount		Accumulated amortization		Gross carrying amount		Accumulated amortization
Customer relationships	6-20	$	503.6	$	(176.4)	$	500.1	$	(143.7)
Exclusive supplier agreement	21	22.3		(5.6)		22.1		(4.5)
Trade names	3-10	22.6		(13.5)		21.8		(12.6)
Trade names	Indefinite	4.9		—		4.9		—
Non-compete agreements	1-5	9.2		(7.9)		9.2		(6.5)
Intellectual property	8	2.5		(0.5)		2.3		(0.2)
Total		$	565.1	$	(203.9)	$	560.4	$	(167.5)

Anixter continually evaluates whether events or circumstances have occurred that would indicate the remaining estimated useful lives of intangible assets warrant revision or that the remaining balance of such assets may not be recoverable. Trade names that have been identified to have indefinite lives are not being amortized based on the expectation that the trade name products will generate future cash flows for the foreseeable future. In 2017, the Company recorded an impairment charge of $5.7 million related to certain indefinite-lived trade names in its NSS reporting unit. This impairment charge is included in "Operating expenses" in the Consolidated Statement of Income. The impairment charge was recorded as Anixter no longer plans to use certain trade names on certain products. All remaining indefinite-lived trade names are expected to be used on existing products for the foreseeable future.

For definite-lived intangible assets, the Company uses an estimate of the related undiscounted cash flows over the remaining life of the asset in measuring whether the asset is recoverable. The Company's definite-lived intangible assets are primarily related to customer relationships. In order to measure an impairment loss of customer relationships, Anixter estimates the fair value by using an excess earnings model, a form of the income approach. The analysis requires making various judgments, including assumptions about future cash flows based on projected growth rates of revenue and expense, rates of customer attrition and working capital needs. The assumptions about future cash flows and growth rates are based on management’s forecast of the asset group. The key inputs utilized in determining the fair value of customer relationships include significant unobservable inputs, or Level 3 inputs, as described in the accounting fair value hierarchy. Inputs included discount rates derived from an estimated weighted-average cost of capital, which reflected the overall level of inherent risk of the asset group and the rate of return a market participant would expect to earn, as well as customer attrition rates.

Intangible amortization expense is expected to average $33.6 million per year for the next five years. The Company's definite lived intangible assets are amortized over a straight line basis as it approximates the customer attrition patterns and best estimates the use pattern of the assets.

Other, net: The following represents the components of "Other, net" as reflected in the Consolidated Statements of Income:


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Other, net:
Foreign exchange loss	$	(2.2)	$	(8.2)	$	(3.4)
Cash surrender value of life insurance policies	4.4		(1.3)		2.4
Net periodic pension benefit	2.4		5.1		0.2
Loss on extinguishment of debt	—		(4.6)		—
Other	(1.6)		(1.2)		0.2
Total other, net	$	3.0	$	(10.2)	$	(0.6)

Certain subsidiaries of Anixter conduct business in a currency other than the legal entity’s functional currency. Transactions may produce receivables or payables that are fixed in terms of the amount of foreign currency that will be received or paid. A change in exchange rates between the functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. The increase or decrease in expected functional currency cash flows is a foreign currency transaction gain or loss that is included in "Other, net" in the Consolidated Statements of Income.

The Company purchases foreign currency forward contracts to minimize the effect of fluctuating foreign currency-denominated accounts on its reported income. The foreign currency forward contracts are not designated as hedges for accounting purposes. The Company's strategy is to negotiate terms for its derivatives and other financial instruments to be highly effective, such that the change in the value of the derivative offsets the impact of the underlying hedged item (e.g., various foreign currency-denominated accounts). Its counterparties to foreign currency forward contracts have investment-grade credit ratings. Anixter expects the creditworthiness of its counterparties to remain intact through the term of the transactions. The Company regularly monitors the creditworthiness of its counterparties to ensure no issues exist which could affect the value of the derivatives.

The Company does not hedge 100% of its foreign currency-denominated accounts. In addition, the results of hedging can vary significantly based on various factors, such as the timing of executing the foreign currency forward contracts versus the movement of the currencies as well as the fluctuations in the account balances throughout each reporting period. The fair value of the foreign currency forward contracts is based on the difference between the contract rate and the current exchange rate. The fair value of the foreign currency forward contracts is measured using observable market information. These inputs would be considered Level 2 in the fair value hierarchy. At January 3, 2020 and December 28, 2018, foreign currency forward contracts were revalued at then-current foreign exchange rates with the changes in valuation reflected directly in "Other, net" in the Consolidated Statements of Income offsetting the transaction gain/loss recorded on the foreign currency-denominated accounts. At January 3, 2020 and December 28, 2018, the gross notional amount of the foreign currency forward contracts outstanding was approximately $130.2 million and $96.3 million, respectively. At January 3, 2020 and December 28, 2018, the net notional amount of the foreign currency forward contracts outstanding was approximately $95.4 million and $75.7 million, respectively. While all of the Company's foreign currency forward contracts are subject to master netting arrangements with its counterparties, assets and liabilities related to these contracts are presented on a gross basis within the Consolidated Balance Sheets. The gross fair value of assets and liabilities related to foreign currency forward contracts are immaterial.

The combined effect of changes in both the equity and bond markets resulted in changes in the cash surrender value of the Company's company owned life insurance policies associated with the sponsored deferred compensation program.

Fair value measurement: Assets and liabilities measured at fair value on a recurring basis consist of foreign currency forward contracts and the assets of Anixter's defined benefit plans. The fair value of the foreign currency forward contracts is discussed above in the section titled "Other, net." The fair value of the assets of Anixter's defined benefit plans is discussed in Note 8. "Pension Plans, Post-Retirement Benefits and Other Benefits". Fair value disclosures of debt are discussed in Note 5. "Debt".

The Company measure the fair values of goodwill, intangible assets and property and equipment on a nonrecurring basis if required by impairment tests applicable to these assets. The fair value measurements of goodwill, intangible assets and property and equipment are discussed above.

The inputs used in the determination of fair values are categorized according to the fair value hierarchy as being Level 1, Level 2 or Level 3. In general, fair values determined by Level 1 inputs use quoted prices in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar assets or liabilities in active markets, and other inputs such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset or liability. In instances where inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability.

Revenue recognition: Anixter is a leading global distributor of network and security solutions, electrical and electronic solutions and utility power solutions. Through a global distribution network along with supply chain and technical expertise, Anixter helps customers reduce the risk, cost and complexity of their supply chains. Anixter is a leader in providing advanced inventory management services including procurement, just-in-time delivery, material management programs, turn-key yard layout and management, quality assurance testing, component kit production, storm/event kitting, small component assembly and e-commerce and electronic data interchange to a broad spectrum of customers with nearly 600,000 products. Revenue arrangements primarily consist of a single performance obligation to transfer promised goods or services. See Note 10. "Business Segments" for revenue disaggregated by geography.

Sales to customers and related cost of sales are primarily recognized at the point in time when control of goods transfers to the customer. For product sales, this generally occurs upon shipment of the products, however, this may occur at a later date depending on the agreed upon sales terms, such as delivery at the customer's designated location, or based on consignment terms. In instances where goods are not stocked by Anixter and delivery times are critical, product is purchased from the manufacturer and drop-shipped to the customer. Anixter generally takes control of the goods when shipped by the manufacturer and then recognizes revenue when control of the product transfers to the customer. When providing services, sales are recognized over time as control transfers to the customer, which occurs as services are rendered.

Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. The Company estimates different forms of variable consideration at the time of sale based on historical experience, current conditions and contractual obligations. Revenue is recorded net of customer discounts, rebates and similar charges. When Anixter offers the right to return product, historical experience is utilized to establish a liability for the estimate of expected returns, which was $36.7 million and $35.0 million at January 3, 2020 and December 28, 2018, respectively. Sales and other tax amounts collected from customers for remittance to governmental authorities are excluded from revenue. The Company has elected to treat shipping and handling as a fulfillment activity. The practical expedient not to disclose information about remaining performance obligations has also been elected as these contacts have an original duration of one year or less or are contracts where the Company has applied the practical expedient to recognize service revenue in proportion to the amount Anixter has the right to invoice. The Company typically receives payment 30 to 60 days from the point it has satisfied the related performance obligation.

At December 28, 2018, $17.2 million of deferred revenue related to outstanding contracts was reported in "Accrued expenses" in the Company's Consolidated Balance Sheet. This balance primarily represents prepayments from customers. During the year ended January 3, 2020, $14.9 million of this deferred revenue was recognized. At January 3, 2020, deferred revenue was $11.6 million. The Company expects to recognize this balance as revenue within the next twelve months.

Advertising and sales promotion: Advertising and sales promotion costs are expensed as incurred. Advertising and promotion costs included in operating expenses on the Consolidated Statements of Income were $15.6 million, $15.8 million and $10.6 million in 2019, 2018 and 2017, respectively. The majority of the advertising and sales promotion costs are recouped through various cooperative advertising programs with vendors.

Shipping and handling fees and costs: Shipping and handling fees billed to customers are included in net sales. Shipping and handling costs associated with outbound freight are included in "Operating expenses" on the Consolidated Statements of Income, which were $133.1 million, $139.7 million and $119.1 million in 2019, 2018 and 2017, respectively.

Stock-based compensation: The Company measures the cost of all share-based payments to employees, including grants of employee stock options, using a fair-value-based method. Compensation costs are determined based on the fair value at the grant date and amortized over the respective vesting period representing the requisite service period. The Company accounts for forfeitures of share-based payments as they occur.

Accumulated other comprehensive loss: Unrealized gains and losses are accumulated in "Accumulated other comprehensive loss" ("AOCI"). These changes are also reported in "Other comprehensive income (loss)" on the Consolidated Statements of Comprehensive Income. These include unrealized gains and losses related to the Company's defined benefit obligations and foreign currency translation. See Note 8. "Pension Plans, Post-Retirement Benefits and Other Benefits" for pension related amounts reclassified into net income.

Investments in several subsidiaries are recorded in currencies other than the U.S. dollar ("USD"). As these foreign currency denominated investments are translated at the end of each period during consolidation using period-end exchange rates, fluctuations of exchange rates between the foreign currency and the USD increase or decrease the value of those investments. The results of operations for foreign subsidiaries, where the functional currency is not the USD, are translated into USD using the average exchange rates during the periods reported, while the assets and liabilities are translated using period-end exchange rates. The assets and liabilities related translation adjustments are recorded as a separate component of AOCI, "Foreign currency translation." In addition, as Anixter's subsidiaries maintain investments denominated in currencies other than local currencies, exchange rate fluctuations will occur. Borrowings are raised in certain foreign currencies to minimize the exchange rate translation adjustment risk.

Income taxes: Deferred taxes are recognized for the future tax effects of temporary differences between financial and income tax reporting based upon enacted tax laws and rates. The Company maintains valuation allowances to reduce deferred tax assets if it is more likely than not that some portion or all of the deferred tax asset will not be realized based on available evidence. Anixter recognizes the benefit of tax positions when a benefit is more likely than not (i.e., greater than 50% likely) to be sustained on its technical merits. Recognized tax benefits are measured at the largest amount that is more likely than not to be sustained, based on cumulative probability, in final settlement of the position.

Net income per share: Diluted net income per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.

The Company had 0.2 million, 0.3 million, and 0.4 million in 2019, 2018 and 2017, respectively, of additional shares related to stock options and stock units included in the computation of diluted earnings per share because the effect of those common stock equivalents were dilutive during these periods. Antidilutive stock options and units are excluded from the calculation of weighted-average shares for diluted earnings per share. For 2019, 2018 and 2017, the antidilutive stock options and units were immaterial.

Recently issued and adopted accounting pronouncements: In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases, which requires lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. In July 2018, the FASB issued additional authoritative guidance providing companies with an optional transition method to use the effective date of ASU 2016-02 as the date of initial application of transition and not restate comparative periods. The Company adopted the standard in the first quarter of 2019 using this optional transition method. The Company elected the package of practical expedients, which allows it to carry forward historical lease classification, the practical expedient to not separate non-lease components from lease components, and the short-term lease accounting policy election as defined in ASU 2016-02. The Company implemented internal controls and a lease accounting information system to enable the preparation of financial information on adoption. The standard had a material impact on the Company's Consolidated Balance Sheet, but did not have an impact on the Consolidated Statements of Income. The most significant impact was the recognition of right-of-use assets of $244.1 million and lease liabilities of $249.6 million for operating leases, while accounting for finance leases remained substantially unchanged.

In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which will allow a reclassification from accumulated other comprehensive income to retained earnings for the tax effects resulting from the December 22, 2017 enactment of the Tax Cuts and Jobs Act (the "Act") that are stranded in accumulated other comprehensive income. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company adopted this standard effective the first quarter of fiscal year 2019 and elected to reclassify $7.7 million of tax benefits from "Accumulated other comprehensive loss" to "Retained earnings" within its Consolidated Financial Statements.

In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting, which will expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company adopted this standard effective the first quarter of fiscal year 2019. The result of this adoption did not have a material impact on the Consolidated Financial Statements.

Recently issued accounting pronouncements not yet adopted: In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which requires the measurement of expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable forecasts. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of adoption of this ASU, but it is not expected to have a material effect on the Company's Consolidated Financial Statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment, which removes step two from the goodwill impairment test. Step two measures a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. The new guidance requires an entity to perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently assessing the impact the adoption of this ASU will have on its methodology for evaluating goodwill for impairment subsequent to adoption of this standard.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement: Changes to the Disclosure Requirements for Fair Value Measurement, which changes the disclosure requirements for fair value measurements by removing, adding and modifying certain disclosures. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of adoption of this ASU on its related disclosures.

In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General: Changes to the Disclosure Requirements for Defined Benefit Plans, which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing and adding certain disclosures for these plans. The standard is effective for Anixter's financial statements issued for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact of adoption of this ASU on its related disclosures.

In December 2019, the FASB issued ASU 2019-12, Income Taxes - Simplifying the Accounting for Income Taxes, which clarifies existing guidance and removes certain exceptions to the general principles for income taxes. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact of adoption of this ASU on its Consolidated Financial Statements.

The Company does not believe that any other recently issued, but not yet effective, accounting pronouncements, if adopted, would have a material impact on its Consolidated Financial Statements or disclosures.

ACCRUED EXPENSES

12 Months Ended

Jan. 03, 2020

Accrued Liabilites, Current [Abstract]

Accrued Liabilities Disclosure [Text Block]

ACCRUED EXPENSES

Accrued expenses consisted of the following:


	January 3, 2020		December 28, 2018
(In millions)
Salaries and fringe benefits	$	136.2	$	109.7
Other accrued expenses	194.1		199.3
Total accrued expenses	$	330.3	$	309.0

RESTRUCTURING CHARGES

12 Months Ended

Jan. 03, 2020

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER CHARGES

RESTRUCTURING CHARGES

The Company considers restructuring activities to be programs whereby Anixter fundamentally changes its operations, such as closing and consolidating facilities, reducing headcount and realigning operations in response to changing market conditions. The following table summarizes activity related to liabilities associated with restructuring activities:


	Restructuring Activity
	Q2 2018 Plan
	Employee-Related Costs (a)		Facility Exit and Other Costs (b)		Total
Balance at December 29, 2017	$	—	$	—	$	—
Charges	9.6		0.5		$	10.1
Payments and other	(2.9)		(0.3)		(3.2)
Balance at December 28, 2018	$	6.7	$	0.2	$	6.9
Payments and other	(4.9)		(0.1)		(5.0)
Balance at January 3, 2020	$	1.8	$	0.1	$	1.9

(a)Employee-related costs primarily consist of severance benefits provided to employees who have been involuntarily terminated.

(b)Facility exit and other costs primarily consist of lease termination costs.

Q2 2018 Restructuring Plan

In the second quarter of 2018, the Company recorded a pre-tax charge of $2.1 million, $1.3 million and $1.1 million in its Network & Security Solutions ("NSS"), Electrical & Electronic Solutions ("EES") and Utility Power Solutions ("UPS") segments, respectively, and an additional $5.4 million at its corporate headquarters, primarily for severance-related expenses associated with a reduction of approximately 260 positions. In the third quarter of 2018, the Company recorded an additional $0.2 million charge at its corporate headquarters. The $10.1 million charge related to the second quarter 2018 plan primarily reflects actions related to facilities consolidation, systems integration and back office functions. This charge was included in "Operating expenses" in the Company's Consolidated Statement of Income for fiscal year 2018. The majority of the balance included in accrued expenses of $1.9 million as of January 3, 2020 is expected to be paid by the first half of 2020.

LEASES

12 Months Ended

Jan. 03, 2020

Leases [Abstract]

Lessee, Operating Leases [Text Block]

LEASES

The Company adopted ASU 2016-02, Leases, as of December 29, 2018, using the modified retrospective approach. Prior year financial statements were not recast under the new standard and, therefore, certain prior period amounts have been disclosed in conformity with prior year presentation.

Substantially all of Anixter's office and warehouse facilities are leased under operating leases. The Company also leases certain equipment and vehicles primarily as operating leases. A certain number of Anixter's leases are long-term operating leases and expire at various dates through 2038. Lease costs are included within "Operating expenses" in the Company's Consolidated Statements of Income and were as follows:


	Year Ended
(In millions)	January 3, 2020
Lease cost
Operating lease cost	$	79.0
Variable lease cost	22.2
Short-term lease cost	1.2
Total lease cost	$	102.4

Total rental expense was $107.3 million and $100.9 million in 2018 and 2017, respectively.

The weighted-average remaining lease term and weighted-average discount rate under operating leases were as follows:


	January 3, 2020
Lease term and discount rate
Weighted-average remaining lease term	6.5 years
Weighted-average discount rate ^(a)	5.9	%

(a)Upon adoption of ASU 2016-02, the discount rate used for existing leases was established as of December 29, 2018.

Maturities of operating lease liabilities at January 3, 2020 were as follows:


(In millions)
2020	$	75.4
2021	59.2
2022	54.4
2023	40.8
2024	32.0
2025 and thereafter	81.6
Total lease payments	$	343.4
Less imputed interest	61.4
Present value of lease liabilities	$	282.0

Operating lease payments include $17.4 million related to options to extend lease terms that are reasonably certain of being exercised. As of January 3, 2020, the Company has additional leases related to facilities that have not yet commenced of $7.5 million. These operating leases will commence in fiscal year 2020 with lease terms of three to eleven years. Anixter subleases certain real estate to third parties. During the year ended January 3, 2020, the Company recognized income of $1.1 million, which was included within "Operating expenses" in the Company's Consolidated Statements of Income. Aggregate future minimum rentals to be received under non-cancelable subleases at January 3, 2020 were $3.7 million.

During the year ended January 3, 2020, leased assets obtained in exchange for operating lease obligations were $348.3 million. The operating cash outflow for amounts included in the measurement of operating lease obligations was $63.5 million.

DEBT

12 Months Ended

Jan. 03, 2020

DEBT

Debt is summarized below:


(In millions)	January 3, 2020		December 28, 2018
Long-term debt:
6.00% Senior notes due 2025	$	247.3	$	246.9
5.50% Senior notes due 2023	347.9		347.4
5.125% Senior notes due 2021	398.3		397.4
Revolving lines of credit	56.0		260.0
Finance lease obligations	6.0		0.9
Other	8.8		6.1
Unamortized deferred financing costs	(4.6)		(6.0)
Total long-term debt	$	1,059.7	$	1,252.7

Certain debt agreements entered into by Anixter's operating subsidiaries contain various restrictions, including restrictions on payments to the Company. These restrictions have not had, nor are expected to have, an adverse impact on the Company's ability to meet cash obligations. Anixter International Inc. has guaranteed substantially all of the debt of its subsidiaries.

Aggregate annual maturities of debt before accretion of debt discount as reflected on the Consolidated Balance Sheet at January 3, 2020 are as follows: 2020 - $8.8 million, 2021 - $398.3 million, 2022 - $0.0 million, 2023 - $403.9 million, 2024 - $0.0 million and $247.3 million thereafter.

The Company's average borrowings outstanding was $1,406.6 million and $1,433.8 million for the fiscal years ending January 3, 2020 and December 28, 2018, respectively. The Company's weighted-average cost of borrowings was 5.5% for the year ended January 3, 2020 and 5.3% for the years ended December 28, 2018 and December 29, 2017, respectively. Interest paid in 2019, 2018 and 2017 was $74.3 million, $73.9 million and $70.6 million, respectively.

At the end of fiscal 2019, Anixter had approximately $524.7 million and $134.3 million in available, committed, unused borrowings under the $600.0 million U.S. accounts receivable asset based revolving credit facility and $150.0 million U.S. inventory asset based revolving credit facility, respectively. All credit lines are with financial institutions with investment grade credit ratings. Borrowings under these facilities are limited based on the borrowing base criteria as described below.

The Company is in compliance with all of its covenants and believes that there is adequate margin between the covenant ratios and the actual ratios given the current trends of the business.

Revolving Lines of Credit and Canadian Term Loan

On October 5, 2015, Anixter, through its wholly-owned subsidiaries, Anixter Inc., Anixter Receivables Corporation ("ARC") and Anixter Canada Inc., entered into certain financing transactions in connection with the consummation of the acquisition of Power Solutions, including a U.S. accounts receivable asset based revolving credit facility in an aggregate committed amount of $600.0 million ("Receivables Facility"), a U.S. inventory asset based revolving credit facility in an aggregate committed amount of $150.0 million ("Inventory Facility") for a U.S. combined commitment of $750.0 million ("Combined Commitment"). Additionally, the Company entered into a Canadian term loan facility in Canada in an aggregate principal amount of $300.0 million Canadian dollars, the equivalent to approximately $225.0 million USD, with a five-year maturity ("Canadian Term Loan"). In connection with these financing transactions, the Company incurred approximately $6.7 million in financing transaction costs, of which approximately $5.4 million was capitalized as deferred financing costs and will be amortized through maturity using the straight-line method, and approximately $1.3 million was expensed as incurred.

On November 16, 2018, Anixter amended the Receivables and Inventory Facilities to extend the maturity date from October 5, 2020 to November 16, 2023. An additional $2.1 million of deferred financing costs were capitalized and will be amortized through maturity.

Receivables Facility

On October 5, 2015, Anixter, through its wholly-owned subsidiary, ARC, entered into a Receivables Facility, which is a receivables based revolving credit facility in an aggregate committed amount of $600.0 million. Borrowings under the Receivables Facility are secured by a first lien on all assets of ARC and supported by an unsecured guarantee by Anixter International, Inc.

The Receivables Facility has a borrowing base of 85% of eligible receivables, subject to certain reserves.

In connection with the entry into the Receivables Facility, on October 5, 2015, Anixter Inc. and ARC entered into a Third Amended and Restated Receivables Sale Agreement (the "Amended and Restated RSA"), which amended and restated the existing Second Amended and Restated Sales Agreement. The purpose of the Amended and Restated RSA is (i) to reflect the entry into the Receivables Facility and the termination of the Second Amended and Restated Receivables Purchase Agreement, and (ii) to include in the receivables sold by Anixter Inc. to ARC receivables originated by Tri-Northern Holdings, Inc. and its subsidiaries (collectively, the "Tri-Ed Subsidiaries") and subsidiaries acquired in the Power Solutions acquisition (the "Power Solutions Subsidiaries").

Inventory Facility

On October 5, 2015, Anixter and certain of its wholly-owned subsidiaries, including the Tri-Ed Subsidiaries and Power Solutions Subsidiaries, entered into the Inventory Facility, an asset based lending revolving credit facility, in an aggregate committed amount of $150.0 million. Borrowings under the Inventory Facility are secured by a first lien on Anixter Inc.'s and certain of its subsidiaries' personal property and supported by a guarantee by Anixter International Inc.

The Inventory Facility has a borrowing base, (a) with respect to appraised eligible domestic inventory, of the lesser of (i) 85% of the net orderly liquidation value of such inventory; and (ii) 75% of book value of such inventory, plus, (b) with respect to eligible domestic inventory not appraised, 40% of the net orderly liquidation value of such inventory, less (c) certain reserves.

The Receivables Facility and the Inventory Facility (collectively, the "Combined Facilities")

The Combined Facilities drawn pricing will range from LIBOR plus 125 basis points when the combined unused availability (the "Combined Availability") under the Combined Facilities is greater than $500.0 million or LIBOR plus 150 basis points when Combined Availability is less than $500.0 million. Undrawn fees are 25 basis points.

Acquisitions and restricted payments will be permitted, subject to, among other things, (i) Combined Availability of at least $131.3 million after giving pro forma effect to any acquisition or restricted payment or (ii) (a) Combined Availability of at least $93.8 million and (b) maintenance of a minimum fixed charge coverage ratio of at least 1.1x, after giving pro forma effect to the acquisition or restricted payment.

The Combined Facilities provides for customary representations and warranties and customary events of default, generally with corresponding grace periods, including, without limitation, payment defaults with respect to the facility, covenant defaults, cross-defaults to other agreements evidencing material indebtedness, certain judgments and events of bankruptcy.

Canadian Term Loan

On October 5, 2015, Anixter, through its wholly-owned subsidiaries, Anixter Canada Inc. and Tri-Ed ULC, entered into a $300.0 million Canadian dollars (equivalent to approximately $225.0 million USD) Canadian Term Loan. During 2017, the Company repaid $100.2 million of the outstanding balance. The Company incurred $0.2 million of additional interest expense in 2017 due to the write-off of deferred financing costs on the early payment of debt. The Canadian Term Loan was guaranteed by all present and future material Canadian subsidiaries of Anixter Canada Inc. and Tri-Ed ULC as well as Anixter Mid Holdings BV. The Canadian Term Loan was secured by a first priority security interest in all of the assets of Anixter Canada Inc. and each of its Canadian subsidiaries, which comprised the borrowing group.

In the fourth quarter of 2017, the Company paid off the Canadian Term Loan in full.

6.00% Senior Notes Due 2025

On November 13, 2018, the Company's primary operating subsidiary, Anixter Inc., completed the issuance of $250.0 million principal amount of Senior notes due 2025 ("Notes due 2025"). The Notes due 2025 were issued at a price that was 98.75% of par, which resulted in a discount related to underwriting fees of $3.1 million. The discount is reported on the Consolidated Balance Sheet as a reduction to the face amount of the Notes due 2025 and is being amortized to interest expense over the term of the related debt, using the effective interest method. In addition, $0.8 million of deferred financing costs were paid, which are being amortized through maturity using the straight-line method. The Notes due 2025 pay interest semi-annually at a rate of 6.00% per annum and will mature on December 1, 2025. In addition, Anixter Inc. may at any time prior to September 1, 2025, redeem some or all of the Notes due 2025 at a price equal to 100% of the principal amount plus a "make whole" premium. At any time on or after September 1, 2025, Anixter Inc. may redeem some or all of the Notes due 2025 at a price equal to 100% of the principal amount, plus accrued and unpaid interest. If the Company experiences certain kinds of changes of control, Anixter Inc. must offer to repurchase all of the Notes due 2025 outstanding at 101% of the aggregate principal amount repurchased, plus accrued and unpaid interest. The proceeds were used along with available borrowings under Anixter's revolving lines of credit to retire the Company's Senior notes due 2019. Anixter International Inc. fully and unconditionally guarantees the Notes due 2025, which are unsecured obligations of Anixter Inc.

5.50% Senior Notes Due 2023

On August 18, 2015, the Company's primary operating subsidiary, Anixter Inc., completed the issuance of $350.0 million principal amount of Senior notes due 2023 ("Notes due 2023"). The Notes due 2023 were issued at a price that was 98.75% of par, which resulted in a discount related to underwriting fees of $4.4 million. The discount is reported on the Consolidated Balance Sheet as a reduction to the face amount of the Notes due 2023 and is being amortized to interest expense over the term of the related debt, using the effective interest method. In addition, $1.7 million of deferred financing costs were paid, which are being amortized through maturity using the straight-line method. The Notes due 2023 pay interest semi-annually at a rate of 5.50% per annum and will mature on March 1, 2023. In addition, Anixter Inc. may at any time redeem some or all of the Notes due 2023 at a price equal to 100% of the principal amount plus a "make whole" premium. If the Company experiences certain kinds of changes of control, Anixter Inc. must offer to repurchase all of the Notes due 2023 outstanding at 101% of the aggregate principal amount repurchased, plus accrued and unpaid interest. The proceeds were used to partially finance the Power Solutions acquisition. Anixter International Inc. fully and unconditionally guarantees the Notes due 2023, which are unsecured obligations of Anixter Inc.

5.125% Senior Notes Due 2021

On September 23, 2014, the Company's primary operating subsidiary, Anixter Inc., completed the issuance of $400.0 million principal amount of Senior notes due 2021 ("Notes due 2021"). The Notes due 2021 were issued at a price that was 98.50% of par, which resulted in a discount related to underwriting fees of $6.0 million. Net proceeds from this offering were approximately $393.1 million after also deducting for approximately $0.9 million of deferred financing costs paid that are being amortized through maturity using the straight-line method. The discount is reported on the Consolidated Balance Sheet as a reduction to the face amount of the Notes due 2021 and is being amortized to interest expense over the term of the related debt, using the effective interest method. The Notes due 2021 pay interest semi-annually at a rate of 5.125% per annum and will mature on October 1, 2021. In addition, Anixter Inc. may at any time redeem some or all of the Notes due 2021 at a price equal to 100% of the principal amount plus a "make whole" premium. If Anixter Inc. and/or the Company experience certain kinds of changes of control, it must offer to repurchase all of the Notes due 2021 outstanding at 101% of the aggregate principal amount repurchased, plus accrued and unpaid interest. The proceeds were used by Anixter Inc. to repay amounts outstanding under the accounts receivable credit facility, to repay certain additional borrowings under the 5-year senior unsecured revolving credit agreement that had been incurred for the specific purpose of funding the Tri-Ed acquisition, to provide additional liquidity for maturing indebtedness and for general corporate purposes. Anixter International Inc. fully and unconditionally guarantees the Notes due 2021, which are unsecured obligations of Anixter Inc.

Short-term borrowings

Anixter has borrowings under other bank revolving lines of credit totaling $8.8 million and $6.1 million at the end of fiscal 2019 and 2018, respectively. The Company's short-term borrowings have maturity dates within the next fiscal year. However, all of the borrowings at the end of fiscal 2019 have been classified as long-term at January 3, 2020, as the Company has the intent and ability to refinance the debt under existing long-term financing agreements.

Retirement of Debt

In the fourth quarter of 2018, Anixter retired the below described 5.625% Senior notes due 2019, which had a maturity value of $350.0 million. The proceeds from the issuance of Notes due 2025 and available borrowings under Anixter's revolving lines of credit were used to settle the maturity value. The Company paid a $3.9 million make whole premium and incurred $0.7 million of additional expense due to the write-off of discounts and deferred financing costs on the early payment of debt.

On April 30, 2012, the Company's primary operating subsidiary, Anixter Inc., completed the issuance of $350.0 million principal amount of Senior notes due 2019 ("Notes due 2019"). The Notes due 2019 were issued at a price that was 98.25% of par, which resulted in a discount related to underwriting fees of $6.1 million. Net proceeds from this offering were approximately $342.9 million after also deducting for approximately $1.0 million of deferred financing costs paid that were amortized through maturity using the straight-line method. The discounts were reported on the Consolidated Balance Sheet as a reduction to the face amount of the Notes due 2019 and were amortized to interest expense over the term of the related debt, using the effective interest method. The Notes due 2019 paid interest semi-annually at a rate of 5.625% per annum and were scheduled to mature on May 1, 2019.

In the fourth quarter of 2017, the Company paid off the Canadian Term Loan in full.

The retirement of debt did not have a significant impact on the Company's Consolidated Statements of Income.

Fair Value of Debt

The fair value of Anixter's debt instruments is measured using observable market information which would be considered Level 2 in the fair value hierarchy described in accounting guidance on fair value measurements. The Company's fixed-rate debt consists of Senior notes due 2025, Senior notes due 2023 and Senior notes due 2021.

At January 3, 2020, the Company's total carrying value and estimated fair value of debt outstanding was $1,059.7 million and $1,122.1 million, respectively. This compares to a carrying value and estimated fair value of debt outstanding at December 28, 2018 of $1,252.7 million and $1,261.7 million, respectively. The decrease in the carrying value and estimated fair value is primarily due to lower outstanding borrowings under Anixter's revolving lines of credit.

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jan. 03, 2020
Text Block [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES As of January 3, 2020, the Company had $56.1 million in outstanding letters of credit and guarantees. From time to time, Anixter is party to legal proceedings and matters that arise in the ordinary course of business. As of January 3, 2020, the Company does not believe there is a reasonable possibility that any material loss exceeding the amounts already recognized for these proceedings and matters has been incurred. However, the ultimate resolutions of these proceedings and matters are inherently unpredictable. As such, the Company's financial condition and results of operations could be adversely affected in any particular period by the unfavorable resolution of one or more of these proceedings or matters.

INCOME TAXES

12 Months Ended

Jan. 03, 2020

INCOME TAXES

Income Before Tax Expense: Domestic income before income taxes was $244.2 million, $167.8 million and $178.1 million for 2019, 2018 and 2017, respectively. Foreign income before income taxes was $49.2 million, $55.4 million and $59.5 million for 2019, 2018 and 2017, respectively.

Tax Provisions and Reconciliation to the Statutory Rate: The components of Anixter's tax expense and the reconciliation to the statutory federal rate are identified below. Income tax expense was comprised of:


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Current:
Foreign	$	21.7	$	24.2	$	21.7
State	10.3		9.4		8.3
Federal	39.9		34.2		99.4
	71.9		67.8		129.4
Deferred:
Foreign	(3.5)		(2.5)		0.2
State	0.5		0.2		2.0
Federal	(38.4)		1.4		(3.0)
	(41.4)		(0.9)		(0.8)
Income tax expense	$	30.5	$	66.9	$	128.6

Reconciliations of income tax expense to the statutory corporate federal tax rate of 21% were as follows:


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Statutory tax expense	$	61.6	$	46.9	$	83.2
Increase (reduction) in taxes resulting from:
State income taxes, net	9.7		7.9		4.4
Foreign tax effects	3.5		11.9		2.0
Change in valuation allowance	(42.3)		(0.6)		(0.3)
Impact of tax legislation	—		(2.1)		35.6
Foreign derived intangible income deduction	(4.5)		—		—
Other, net	2.5		2.9		3.7
Income tax expense	$	30.5	$	66.9	$	128.6

Impact of Tax Legislation: On December 22, 2017, the Tax Cuts and Jobs Act (the “Act”) was signed into law. The Act made significant changes to the U.S. tax code. The changes impacting the Company beginning in the fourth quarter of 2017, the period of enactment, include:

•The reduction of the U.S. corporate tax rate to 21% results in an adjustment to the Company's U.S. deferred tax assets and liabilities to the lower rate. The impact of the deferred tax adjustment was measured and recorded as an increase in earnings for the quarter ending December 29, 2017, of $14.4 million. The impact was revised and a deferred tax adjustment of $0.7 million was recorded as a decrease in earnings for the quarter ending December 28, 2018; and

•The tax reform legislation will subject the earnings of the Company's cumulative foreign earnings and profits to U.S. income taxes as a deemed repatriation. The estimated provisional impact of the deemed repatriation decreased earnings for the quarter ending December 29, 2017 by $50.0 million. The tax impact was revised to $47.2 million and finalized in 2018.

The Act subjects U.S. shareholders to tax on Global Intangible Low-Taxed Income ("GILTI") earned by certain foreign subsidiaries. The Company is electing to recognize the tax on GILTI as a period expense in the period tax is incurred. Under this policy, the Company has not provided deferred taxes related to temporary differences that upon their reversal will affect the amount of income subject to GILTI in the period.

Tax Payments: The Company made net payments for income taxes in 2019, 2018 and 2017 of $87.1 million, $88.4 million and $76.4 million, respectively.

Net Operating Losses: Anixter International Inc. and its U.S. subsidiaries file a U.S. federal corporate income tax return on a consolidated basis. At January 3, 2020, various of Anixter's foreign subsidiaries had aggregate cumulative net operating loss ("NOL") carryforwards for foreign income tax purposes of approximately $89.7 million which are subject to various provisions of each respective country. Approximately $71.9 million of the NOL carryforwards may be carried forward indefinitely. The remaining NOL carryforwards expire at various times between 2020 and 2028.

Foreign Tax Credit Carryforwards: At January 3, 2020, the Company estimated and accrued provisional transition taxes. As a result of the transition tax, the Company estimates that it will also have foreign tax credit carryforwards of $41.7 million. At December 28, 2018, a full valuation allowance was recorded against the deferred tax asset related to foreign tax credits as there was not sufficient foreign-source income projected to utilize the foreign tax credits. After considering the relevant evidence in assessing the realizability of the deferred tax asset related to foreign tax credits, in particular the effects of changing to a U.S.-center-led business model during 2019, the Company reversed its valuation allowance in the amount of $41.7 million in 2019.

Undistributed Earnings: Undistributed earnings of Anixter's foreign subsidiaries amounted to approximately $680.0 million at January 3, 2020. The Act converted the U.S. system of taxing foreign earnings from a worldwide system to a territorial system. Future distributions of foreign earnings by Anixter affiliates abroad will no longer result in U.S. taxation. In converting to a territorial system the Act levied a one-time transition tax on deferred foreign earnings as of 2017. Anixter has calculated the net combined U.S. tax impact on this deemed repatriation to be approximately $47.2 million and plans to elect to pay the federal portion of this tax liability in installments over eight years. Despite the conversion to a territorial system, Anixter considers the undistributed earnings of its foreign subsidiaries to be indefinitely reinvested. Upon distribution of those earnings in the form of dividends or otherwise, Anixter may be subject to withholding taxes payable to the various foreign countries. With respect to the countries that have undistributed earnings as of January 3, 2020, according to the foreign laws and treaties in place at that time, estimated foreign jurisdiction withholding taxes of approximately $37.6 million would be payable upon the remittance of all earnings at January 3, 2020.

Deferred Income Taxes: Significant components of the Company's deferred tax assets (liabilities) included in "Other assets" and "Other liabilities" on the Consolidated Balance Sheets were as follows:


(In millions)	January 3, 2020		December 28, 2018
Deferred compensation and other postretirement benefits	$	38.4	$	36.0
Foreign NOL carryforwards and other	26.1		28.1
Operating lease obligations	67.6		1.6
Accrued expenses and other	9.1		8.4
Inventory reserves	8.7		8.5
Unrealized foreign exchange	0.5		2.7
Allowance for doubtful accounts	6.5		7.9
Federal and state credits	54.5		50.6
Gross deferred tax assets	$	211.4	$	143.8
Property, equipment, intangibles and other	(74.8)		(90.1)
Operating lease assets	(66.5)		—
Gross deferred tax liabilities	$	(141.3)	$	(90.1)
Deferred tax assets, net of deferred tax liabilities	70.1		53.7
Valuation allowance	(38.3)		(79.1)
Net deferred tax assets (liabilities)	$	31.8	$	(25.4)

Uncertain Tax Positions and Jurisdictions Subject to Examinations: A reconciliation of the beginning and ending amount of unrecognized tax benefits for fiscal 2017, 2018 and 2019 is as follows:


(In millions)
Balance at December 30, 2016	$	5.0
Reductions for tax positions of prior years	(0.3)
Balance at December 29, 2017	$	4.7
Additions for tax positions of prior years	0.6
Reductions for tax positions of prior years	(0.6)
Balance at December 28, 2018	$	4.7
Additions for tax positions of prior years	0.1
Reductions for tax positions of prior years	(2.6)
Balance at January 3, 2020	$	2.2

Interest and penalties accrued for unrecognized tax benefits were $0.2 million in 2019, 2018 and 2017. The Company estimates that of the unrecognized tax benefit balance of $2.2 million, all of which would affect the effective tax rate, $0.2 million may be resolved in a manner that would impact the effective rate within the next twelve months. The reserves for uncertain tax positions, including interest and penalties, of $3.0 million cover a range of issues, including intercompany charges and withholding taxes, and involve various taxing jurisdictions.

Only the returns for fiscal tax years 2014 and later remain open to examination by the Internal Revenue Service ("IRS") in the U.S., which is Anixter's most significant tax jurisdiction. For most states, fiscal tax years 2015 and later remain subject to examination. In Canada, the fiscal tax years 2015 and later are still subject to examination, while in the United Kingdom, the fiscal tax years 2018 and later remain subject to examination.

PENSION PLANS

12 Months Ended

Jan. 03, 2020

PENSION PLANS

PENSION PLANS, POST-RETIREMENT BENEFITS AND OTHER BENEFITS

The Company's defined benefit pension plans are the plans in the U.S., which consist of the Anixter Inc. Pension Plan, the Executive Benefit Plan and the Supplemental Executive Retirement Plan ("SERP") (together the "Domestic Plans") and various defined benefit pension plans covering employees of foreign subsidiaries in Canada and Europe (together the "Foreign Plans"). The majority of these defined benefit pension plans are non-contributory and, with the exception of the U.S. and Canada, cover substantially all full-time domestic employees and certain employees in other countries. Retirement benefits are provided based on compensation as defined in both the Domestic Plans and the Foreign Plans. The Company's policy is to fund all Domestic Plans as required by the Employee Retirement Income Security Act of 1974 ("ERISA") and the IRS and all Foreign Plans as required by applicable foreign laws. The Executive Benefit Plan and SERP are the only two plans that are unfunded. Assets in the various plans consist primarily of equity securities and debt securities.

Accounting rules related to pensions generally reduce the recognition of actuarial gains and losses in the net benefit cost, as any significant actuarial gains/losses are amortized over the remaining service lives of the plan participants. These actuarial gains and losses are mainly attributable to the return on plan assets that differ from that assumed and differences in the obligation due to changes in the discount rate, plan demographic changes and other assumptions.

The measurement date for all plans is December 31st. Accordingly, at the end of each fiscal year, the Company determines the discount rate to be used to discount the plan liabilities to their present value. The discount rate reflects the current rate at which the pension liabilities could be effectively settled at the end of the year. In estimating this rate at the end of 2019 and 2018, the Company reviewed rates of return on relevant market indices and concluded the Willis Towers Watson Global Rate Link Model was consistent with observable market conditions and industry standards for developing spot rate curves. These rates are adjusted to match the duration of the liabilities associated with the pension plans.

At January 3, 2020 and December 28, 2018, the Company determined the consolidated weighted-average discount rate of all plans to be 2.75% and 3.59%, respectively, and used these rates to measure the projected benefit obligation ("PBO") at the end of each respective fiscal year end. Due primarily to actuarial losses, the PBO increased to $586.5 million at the end of fiscal 2019 from $504.1 million at the end of fiscal 2018. The consolidated net unfunded status was $71.0 million at the end of fiscal 2019 compared to $55.2 million at the end of 2018.

A significant element in determining net periodic benefit cost in accordance with U.S. GAAP is the expected return on plan assets. For 2019, the Company had assumed that the weighted-average expected long-term rate of return on plan assets would be 6.01%. This expected return on plan assets is included in the net periodic benefit cost for the fiscal year ended 2019. As a result of the combined effect of valuation changes in both the equity and bond markets, the plan assets produced an actual gain of approximately 16.8% in 2019 and an actual loss of approximately 4.2% in 2018. The fair value of plan assets is $515.5 million at the end of fiscal 2019, compared to $448.9 million at the end of fiscal 2018. The difference between the expected return and the actual return on plan assets is amortized into expense over the service lives of the plan participants. These amounts are reflected on the balance sheet through charges to "Accumulated other comprehensive loss," a component of "Stockholders’ Equity" in the Consolidated Balance Sheets.

In the fourth quarter of 2019, the Company amended the Anixter Inc. Pension Plan in the U.S. to allow for terminated employees a one-time option to receive a cash payout of their vested benefits if the present value of the benefit was under $125,000. This resulted in an additional $10.9 million of lump sum payments. The cash payout did not result in a settlement charge as the amount did not exceed the service and interest costs of the plan in 2019.

In the fourth quarter of 2017, the Company transferred the benefits of certain retirees or beneficiaries to a third-party annuity provider. The Company paid $11.3 million of additional contributions into the plan using excess cash from operations to fund the contributions. The plan purchased an $11.3 million annuity contract with a third-party insurance carrier and transferred the related pension obligations to the carrier. The funding of the premiums did not result in a settlement charge as the amount did not exceed the service and interest costs of the plan in 2017.

In the third quarter of 2015, the plan was frozen to entrants first hired or rehired on or after July 1, 2015. Anixter Inc. makes an annual contribution to the Employee Savings Plan on behalf of each active participant who is first hired or rehired on or after July 1, 2015, or is not participating in the Anixter Inc. Pension Plan. The amount of the employer annual contribution to each active participant's account will be an amount determined by multiplying the participant's salary for the Plan year by either: (1) 2% if such participant's years of service as of August 1 of the Plan year is fewer than five, or (2) 2.5% if such participant's years of service as of August 1 of the Plan year is five or greater. This contribution is in lieu of being eligible for the Anixter Inc. Pension Plan.

All non-union domestic employees hired or rehired before July 1, 2015, earn a benefit under a personal retirement account (hypothetical account balance). Each year, a participant’s account receives a credit equal to 2% of the participant’s salary (2.5% if the participant’s years of service at August 1 of the plan year are five years or more). Active participants become fully vested in their hypothetical personal retirement account after three years of service. Interest earned on the credited amount is not credited to the personal retirement account but is contributed to the participant’s account in the Anixter Inc. Employee Savings Plan. The interest contribution equals the interest earned on the personal retirement account balance as of January 1^st in the Domestic Plan and is based on the 10-year Treasury note rate as of the last business day of December.

In 2019 and 2018, the Society of Actuaries released new mortality tables and improvement projection scales. After reviewing the new information as well as the defined benefit plan’s population, the Company updated U.S. mortality improvement assumptions in 2019 and 2018 for purposes of determining its mortality assumption used in the U.S. defined benefit plans' liability calculation. In 2019, the Company selected the white collar version of the Pri-2012 tables projected generationally using the Society of Actuaries’ MP-2019 projection scale. The updated U.S. mortality assumptions resulted in an increase of $5.2 million to the benefit obligation as of the end of 2019, prior to reflecting the discount rate change. In 2018, the Company adjusted the long term mortality improvement projection assumption to 80% of the Society of Actuaries’ mortality improvement scale to reflect the Company’s long-term expectations. The updated U.S. mortality assumptions resulted in a decrease of $2.8 million to the benefit obligation as of the end of 2018, prior to reflecting the discount rate change.

The assets of the various defined benefit plans are held in separate independent trusts and managed by independent third party advisors. The investment objective of both the Domestic and Foreign Plans is to ensure, over the long-term life of the plans, an adequate level of assets to fund the benefits to employees and their beneficiaries at the time they are payable. In meeting this objective, the Company seeks to achieve a level of absolute investment return consistent with a prudent level of portfolio risk. Anixter's risk preference is to refrain from exposing the plans to higher volatility in pursuit of potential higher returns.

The Domestic Plans’ and Foreign Plans’ asset mixes as of January 3, 2020 and December 28, 2018 and the asset allocation guidelines for such plans are summarized as follows.


	Domestic Plans
	January 3, 2020		Allocation Guidelines
					Min			Target			Max
Global equities	42.5	%	30	%		37	%		45	%
Debt securities:
Domestic treasuries	20.9		—			24			40
Corporate bonds	7.0		—			8			40
Other	14.4		9			14			19
Total debt securities	42.3		9			46			99
Property/real estate	15.2		9			16			23
Other	—		—			1			5
	100.0	%				100	%


	Domestic Plans
	December 28, 2018		Allocation Guidelines
					Min			Target			Max
Global equities	40.1	%	37	%		46	%		66	%
Debt securities:
Domestic treasuries	15.6		—			12			34
Corporate bonds	16.3		—			17			34
Other	14.5		9			14			19
Total debt securities	46.4		9			43			87
Property/real estate	12.6		—			10			19
Other	0.9		—			1			5
	100.0	%				100	%


	Foreign Plans
	January 3, 2020		Allocation Guidelines
					Min			Target			Max
Equities:
Domestic equities	0.4	%	—	%		—	%		—	%
International equities	—		2			2			2
Global equities	39.3		14			34			39
Total equities	39.7		16			36			41
Debt securities:
Domestic treasuries	0.4		—			—			—
Corporate bonds	8.1		—			—			—
Other	37.1		16			42			73
Total debt securities	45.6		16			42			73
Property/real estate	6.3		—			14			22
Insurance products	8.3		8			8			8
Other	0.1		—			—			14
	100.0	%				100	%


	Foreign Plans
	December 28, 2018		Allocation
					Guidelines
					Target
Equity securities	60	%	60	%
Debt securities	30		30
Other investments	10		10
	100	%	100	%

The pension committees meet regularly to assess investment performance and reallocate assets that fall outside of its allocation guidelines. The variations between the allocation guidelines and actual asset allocations reflect relative performance differences in asset classes. From time to time, the Company periodically rebalances its asset portfolios to be in line with its allocation guidelines.

For 2019, the U.S. investment policy guidelines were as follows:

•Each asset class is managed by one or more active and passive investment managers

•Each asset class may be invested in a commingled fund, mutual fund, or separately managed account

•Investment in Exchange Traded Funds ("ETFs") is permissible

•Each manager is expected to be "fully invested" with minimal cash holdings

•Derivative instruments such as futures, swaps and options may be used on a limited basis; For funds that employ derivatives, the loss of invested capital to the Trust should be limited to the amount invested in the fund

•The equity portfolio is diversified by sector and geography

•The real assets portfolio is invested Real Estate Investment Trusts ("REITs") and private real estate

•The fixed income is invested in U.S. Treasuries, investment grade corporate debt (denominated in U.S. dollars), and other credit investments including below investment grade rated bonds and loans, securitized credit, and emerging market debt

The investment policies for the Foreign plans are the responsibility of the various trustees. Generally, the investment policy guidelines are as follows:

•Make sure that the obligations to the beneficiaries of the Plan can be met

•Maintain funds at a level to meet the minimum funding requirements

•The investment managers are expected to provide a return, within certain tracking tolerances, close to that of the relevant market’s indices

The expected long-term rate of return on both the Domestic and Foreign Plans’ assets reflects the average rate of earnings expected on the invested assets and future assets to be invested to provide for the benefits included in the projected benefit obligation. The Company uses historic plan asset returns combined with current market conditions to estimate the rate of return. The expected rate of return on plan assets is a long-term assumption based on an analysis of historical and forward looking returns considering the respective plan’s actual and target asset mix. The weighted-average expected rate of return on plan assets used in the determination of net periodic pension cost for 2019 is 6.01%.

The following table sets forth the changes and the end of year components of "Accumulated other comprehensive loss" for the defined benefit plans:


(In millions)	January 3, 2020		December 28, 2018
Changes to Balance:
Beginning balance	$	126.7	$	112.2
Recognized prior service cost	3.8		4.0
Recognized net actuarial gain	(8.5)		(7.5)
Settlement	(0.4)		—
Prior service cost arising in current year	—		0.4
Net actuarial loss arising in current year	20.4		21.8
Foreign currency exchange rate changes	2.5		(4.2)
Ending balance	$	144.5	$	126.7


Components of Balance:
Prior service credit	$	(9.0)	$	(12.8)
Net actuarial loss	153.5		139.5
	$	144.5	$	126.7

Amounts in "Accumulated other comprehensive loss" expected to be recognized as components of net period pension cost in 2020 are as follows:


(In millions)
Amortization of prior service credit	$	(3.4)
Amortization of actuarial loss	9.4
Total amortization expected	$	6.0

The following represents a reconciliation of the funded status of the Company's pension plans for fiscal years 2019 and 2018:


	Pension Benefits
	Domestic Plans									Foreign Plans									Total
(In millions)	2019			2018			2019			2018			2019			2018
Change in projected benefit obligation:
Beginning balance	$	261.5		$	275.8		$	242.6		$	257.6		$	504.1		$	533.4
Service cost	3.1			3.5			5.7			5.9			8.8			9.4
Interest cost	10.9			10.3			6.9			6.8			17.8			17.1
Actuarial loss (gain)	41.4			(19.9)			34.8			(4.0)			76.2			(23.9)
Benefits paid from plan assets	(18.5)			(7.4)			(7.9)			(8.1)			(26.4)			(15.5)
Benefits paid from Company assets	(1.2)			(0.8)			—			—			(1.2)			(0.8)
Plan amendment	—			—			—			0.5			—			0.5
Settlement	—			—			(1.5)			(0.5)			(1.5)			(0.5)
Plan participants contributions	—			—			0.1			0.1			0.1			0.1
Foreign currency exchange rate changes	—			—			8.7			(15.7)			8.7			(15.7)
Other	—			—			(0.1)			—			(0.1)			—
Ending balance	$	297.2		$	261.5		$	289.3		$	242.6		$	586.5		$	504.1
Change in plan assets at fair value:
Beginning balance	$	260.4		$	280.8		$	188.5		$	209.1		$	448.9		$	489.9
Actual return on plan assets	55.6			(13.0)			25.5			(6.9)			81.1			(19.9)
Company contributions to plan assets	—			—			6.3			7.4			6.3			7.4
Benefits paid from plan assets	(18.5)			(7.4)			(7.9)			(8.1)			(26.4)			(15.5)
Settlement	—			—			(1.5)			(0.5)			(1.5)			(0.5)
Plan participants contributions	—			—			0.1			0.1			0.1			0.1
Foreign currency exchange rate changes	—			—			7.1			(12.6)			7.1			(12.6)
Other	—			—			(0.1)			—			(0.1)			—
Ending balance	$	297.5		$	260.4		$	218.0		$	188.5		$	515.5		$	448.9
Reconciliation of funded status:
Projected benefit obligation	$	(297.2)		$	(261.5)		$	(289.3)		$	(242.6)		$	(586.5)		$	(504.1)
Plan assets at fair value	297.5			260.4			218.0			188.5			515.5			448.9
Funded status	$	0.3		$	(1.1)		$	(71.3)		$	(54.1)		$	(71.0)		$	(55.2)
Included in the 2019 and 2018 funded status is accrued benefit cost of approximately $17.5 million and $16.5 million, respectively, related to two non-qualified plans, which cannot be funded pursuant to tax regulations.
Noncurrent asset	$	17.8		$	15.4		$	0.2		$	0.2		$	18.0		$	15.6
Current liability	(1.1)			(1.2)			—			—			(1.1)			(1.2)
Noncurrent liability	(16.4)			(15.3)			(71.5)			(54.3)			(87.9)			(69.6)
Funded status	$	0.3		$	(1.1)		$	(71.3)		$	(54.1)		$	(71.0)		$	(55.2)
Weighted-average assumptions used for measurement of the projected benefit obligation:
Discount rate	3.33		%	4.28		%	2.15		%	2.84		%	2.75		%	3.59		%
Salary growth rate	3.75		%	3.75		%	3.28		%	3.26		%	3.51		%	3.51		%

The following represents the funded components of net periodic pension cost (benefit) as reflected in the Company's Consolidated Statements of Income and the weighted-average assumptions used to measure net periodic pension cost for the years ended January 3, 2020, December 28, 2018 and December 29, 2017:


	Pension Benefits
	Domestic Plans										Foreign Plans								Total
(In millions)	2019		2018		2017		2019		2018		2017		2019		2018		2017
Recorded in operating expenses:
Service cost	$	3.1	$	3.5	$	4.7	$	5.7	$	5.9	$	5.9	$	8.8	$	9.4	$	10.6

Recorded in other, net:
Interest cost	10.9		10.3		11.1		6.9		6.8		6.9		17.8		17.1		18.0
Expected return on plan assets	(14.4)		(16.0)		(14.9)		(11.0)		(9.8)		(8.8)		(25.4)		(25.8)		(23.7)
Net amortization	1.6		0.6		2.5		3.2		2.9		3.0		4.8		3.5		5.5
Settlement charge	—		—		—		0.4		0.1		—		0.4		0.1		—
Total recorded in other, net	$	(1.9)	(5.1)		(1.3)		(0.5)		—		1.1		(2.4)		(5.1)		(0.2)

Total net periodic pension cost (benefit)	$	1.2	$	(1.6)	$	3.4	$	5.2	$	5.9	$	7.0	$	6.4	$	4.3	$	10.4


Weighted-average assumption used to measure net periodic pension (benefit) cost:
Discount rate	4.28	%	3.78	%	4.36	%	2.84	%	2.70	%	2.99	%	3.59	%	3.26	%	3.73	%
Expected return on plan assets	6.25	%	6.25	%	6.25	%	5.68	%	4.81	%	4.79	%	6.01	%	5.63	%	5.59	%
Salary growth rate	3.75	%	3.76	%	4.63	%	3.26	%	3.04	%	3.01	%	3.51	%	3.36	%	3.73	%

Fair Value Measurements

The following presents information about the Plan’s assets measured at fair value on a recurring basis at the end of fiscal 2019, and the valuation techniques used by the Plan to determine those fair values. The inputs used in the determination of these fair values are categorized according to the fair value hierarchy as being Level 1, Level 2 or Level 3.

In general, fair values determined by Level 1 inputs use quoted prices in active markets for identical assets that the Plan has the ability to access. The majority of pension assets valued by Level 1 inputs are comprised of global equity securities.

Fair values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar assets in active markets, and other inputs such as interest rates and yield curves that are observable at commonly quoted intervals. The majority of pension assets valued by Level 2 inputs are comprised of common/collective/pool funds (i.e., mutual funds). These assets are valued at their net asset values and considered observable inputs, or Level 2.

Level 3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset. The only pension assets valued by Level 3 inputs relate to property and real estate funds.

In instances where inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The Plan’s assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset.

Disclosures concerning assets measured at fair value on a recurring basis at January 3, 2020 and December 28, 2018, which have been categorized under the fair value hierarchy for the Domestic and Foreign Plans by the Company are as follows:


	As of January 3, 2020
	Domestic Plans														Foreign Plans										Total
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset Categories:
Equity securities:
Domestic	$	—	$	—	$	—	$	—	$	—	$	0.8	$	—	$	0.8	$	—	$	0.8	$	—	$	0.8
International ^(a)	—		—		—		—		—		—		—		—		—		—		—		—
Global	—		126.3		—		126.3		39.8		45.9		—		85.7		39.8		172.2		—		212.0
Debt securities:
Domestic treasuries	—		62.2		—		62.2		—		0.8		—		0.8		—		63.0		—		63.0
Corporate bonds	—		20.7		—		20.7		—		17.8		—		17.8		—		38.5		—		38.5
Other	—		43.0		—		43.0		—		80.8		—		80.8		—		123.8		—		123.8
Property/real estate	—		—		45.3		45.3		—		13.7		—		13.7		—		13.7		45.3		59.0
Insurance products	—		—		—		—		—		18.1		—		18.1		—		18.1		—		18.1
Other	—		—		—		—		0.3		—		—		0.3		0.3		—		—		0.3
Total at January 3, 2020	$	—	$	252.2	$	45.3	$	297.5	$	40.1	$	177.9	$	—	$	218.0	$	40.1	$	430.1	$	45.3	$	515.5

(a)Investment in funds outside the country where the pension plan originates is considered International.


	As of December 28, 2018
	Domestic Plans														Foreign Plans										Total
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset Categories:
Equity securities:
Domestic	$	—	$	—	$	—	$	—	$	—	$	44.1	$	—	$	44.1	$	—	$	44.1	$	—	$	44.1
International ^(a)	—		—		—		—		—		68.2		—		68.2		—		68.2		—		68.2
Global	—		104.3		—		104.3		—		—		—		—		—		104.3		—		104.3
Debt securities:
Domestic treasuries	—		40.5		—		40.5		—		44.2		—		44.2		—		84.7		—		84.7
Corporate bonds	—		42.4		—		42.4		—		12.3		—		12.3		—		54.7		—		54.7
Other	—		38.0		—		38.0		—		—		—		—		—		38.0		—		38.0
Property/real estate	—		—		32.7		32.7		—		0.3		—		0.3		—		0.3		32.7		33.0
Insurance products	—		—		—		—		—		18.6		—		18.6		—		18.6		—		18.6
Other	2.5		—		—		2.5		0.8		—		—		0.8		3.3		—		—		3.3
Total at December 28, 2018	$	2.5	$	225.2	$	32.7	$	260.4	$	0.8	$	187.7	$	—	$	188.5	$	3.3	$	412.9	$	32.7	$	448.9

(a)Investment in funds outside the country where the pension plan originates is considered International.

Changes in Anixter's Level 3 plan assets, which are included in operations, for the years ended January 3, 2020 and December 28, 2018 included:


(In millions)	December 28, 2018 Balance		Actual return on plan assets		Purchases, sales and settlements		January 3, 2020 Balance
Asset Categories:
Property/real estate	$	32.7	$	3.1	$	9.5	$	45.3
Total Level 3 investments	$	32.7	$	3.1	$	9.5	$	45.3


(In millions)	December 29, 2017 Balance		Purchases, sales and settlements		December 28, 2018 Balance
Asset Categories:
Property/real estate	$	—	$	32.7	$	32.7
Total Level 3 investments	$	—	$	32.7	$	32.7

The Company estimated future benefits payments are as follows at the end of 2019:


	Estimated Future Benefit Payments
(In millions)	Domestic		Foreign		Total
2020	$	10.9	$	5.6	$	16.5
2021	11.6		5.6		17.2
2022	12.4		6.1		18.5
2023	13.2		6.6		19.8
2024	14.2		7.2		21.4
2025-2029	80.6		53.2		133.8
Total	$	142.9	$	84.3	$	227.2

The accumulated benefit obligation in 2019 and 2018 was $293.2 million and $258.2 million, respectively, for the Domestic Plans and $253.3 million and $212.6 million, respectively, for the Foreign Plans. The Company had 9 plans in 2019 and 10 plans in 2018 where the accumulated benefit obligation was in excess of the fair value of plan assets. For pension plans with accumulated benefit obligations in excess of plan assets the aggregate pension accumulated benefit obligation was $261.8 million and $220.3 million for 2019 and 2018, respectively, and aggregate fair value of plan assets was $208.3 million and $179.0 million for 2019 and 2018, respectively.

The Company currently estimates that it will make contributions of approximately $6.6 million to its Foreign Plans in 2020. In addition, the Company estimates that it will make $1.1 million of benefit payments directly to participants of its two domestic unfunded non-qualified pension plans. The Company does not expect to make a contribution to its domestic qualified pension pension plan in 2020 due to its overfunded status.

Defined Contribution Plan

Anixter Inc. adopted the Anixter Inc. Employee Savings Plan effective January 1, 1994. The Plan is a defined-contribution plan covering all non-union domestic employees. Participants are eligible and encouraged to enroll in the tax-deferred plan on their date of hire and are automatically enrolled approximately 60 days after their date of hire unless they opt out. The savings plan is subject to the provisions of ERISA.

In the third quarter of 2015, Anixter Inc. amended the Anixter Inc. Pension Plan in the U.S. whereby employees first hired or rehired on or after July 1, 2015 are no longer eligible to participate in the Anixter Inc. Pension Plan. Anixter Inc. will make an annual contribution to the Employee Savings Plan on behalf of each active participant who is first hired or rehired on or after July 1, 2015, or is not participating in the Anixter Inc. Pension Plan. The amount of the employer annual contribution to each active participant's account will be an amount determined by multiplying the participant's salary for the Plan year by either: (1) 2% if such participant's years of service as of August 1 of the Plan year is fewer than five, or (2) 2.5% if such participant's years of service as of August 1 of the Plan year is five years or greater. This contribution is in lieu of being eligible for the Anixter Inc. Pension Plan.

Effective January 1, 2014, Anixter began matching contributions to equal 50% of a participant's contribution up to 5% of the participant's compensation. The Company also has certain foreign defined contribution plans. Contributions to these plans are based upon various levels of employee participation and legal requirements. The total expense related to defined contribution plans was $14.4 million, $13.8 million and $13.3 million in 2019, 2018 and 2017, respectively.

Deferred Compensation Plan

A non-qualified deferred compensation plan was implemented on January 1, 1995. The plan permits selected employees to make pre-tax deferrals of salary and bonus. Interest is accrued monthly on the deferred compensation balances based on the average ten-year Treasury note rate for the previous three months times a factor of 1.4, and the rate is further adjusted if certain financial goals are achieved. The plan provides for benefit payments upon retirement, death, disability, termination or other scheduled dates determined by the participant. At January 3, 2020, the deferred compensation liability included in "Accrued expenses" and "Other liabilities" on the Consolidated Balance Sheet was $3.4 million and $42.2 million, respectively. At December 28, 2018, the deferred compensation liability included in "Accrued expenses" and "Other liabilities" on the Consolidated Balance Sheet was $3.4 million and $42.0 million, respectively.

Concurrent with the implementation of the deferred compensation plan, the Company purchased variable, separate account life insurance policies on the plan participants with benefits accruing to Anixter. To provide for the liabilities associated with the deferred compensation plan and an executive non-qualified defined benefit plan, fixed general account "increasing whole life" insurance policies were purchased on the lives of certain participants. Prior to 2006, the Company paid annual premiums on the above company-owned policies. The last premium was paid in 2005. Policy proceeds are payable to Anixter upon the insured participant’s death. At January 3, 2020 and December 28, 2018, the cash surrender value of $41.4 million and $37.0 million, respectively, was recorded under this program and reflected in "Other assets" on the Consolidated Balance Sheets.

STOCKHOLDERS' EQUITY

12 Months Ended

Jan. 03, 2020

STOCKHOLDERS' EQUITY

Preferred Stock

Anixter has the authority to issue 15.0 million shares of preferred stock, par value $1.00 per share, none of which were outstanding at the end of fiscal 2019 and 2018.

Common Stock

Anixter has the authority to issue 100.0 million shares of common stock, par value $1.00 per share, of which 34.2 million shares and 33.9 million shares were outstanding at the end of fiscal 2019 and 2018, respectively.

Share Repurchases

Anixter did not repurchase any shares during any of the periods presented in these Consolidated Financial Statements.

Stock-Based Compensation

During the second quarter of 2017, the Company's shareholders approved the 2017 Stock Incentive Plan consisting of 2.0 million shares of the Company's common stock. Prior approved stock incentive plans have been closed and will not be allowed to issue future stock grants. At January 3, 2020, there were approximately 1.3 million shares reserved for issuance under the 2017 incentive plan.

Restricted Stock Units and Performance Units

The grant-date value of the stock units is amortized and converted to outstanding shares of common stock on a one-for-one basis over a three, four or six-year vesting period from the date of grant based on the specific terms of the grant. Compensation expense, net of the reversal of costs associated with forfeitures, associated with the stock units was $17.2 million, $15.7 million and $15.5 million in 2019, 2018 and 2017, respectively.

During the first quarter of 2016, Anixter initiated a performance-based restricted stock unit ("performance units") program. For 2016, 2017 and 2018, performance units will vest in one-third tranches to be evaluated on the anniversary of the first, second and third performance cycles. Each evaluation period will be based on the achievement of the Company's total shareholder return ("TSR") relative to the TSR of the S&P Mid Cap 400 index. The issuance of the vested shares will be on the final vesting date of year three. The granted units will be adjusted based on the specific payout percentage of the grant agreement. For 2019 performance units, each evaluation period will be based on the Company's adjusted EBITDA margin for each of the performance periods with a three year overall TSR modifier relative to the TSR of the peer group companies determined by the Company's compensation committee calculated at the end of the three performance cycles. The fair value of each performance unit tranche is estimated using the Monte Carlo Simulation pricing model at the date of grant.

Under the current stock incentive plan, the Company pays its non-employee directors annual retainer fees and, at their election, meeting fees in the form of stock units. Currently, these units are granted quarterly and vest immediately. Therefore, the Company includes these units in its common stock outstanding on the date of vesting as the conditions for conversion are met. However, the actual issuance of shares related to all director units are deferred until a pre-arranged time selected by each director. Compensation expense associated with the director stock units was $2.8 million, $2.4 million and $2.5 million in 2019, 2018 and 2017, respectively.

The total fair value of stock units that vested was $16.7 million, $14.8 million and $14.4 million in 2019, 2018 and 2017, respectively.

The following table summarizes the activity under the director and employee stock unit plans:


(units in thousands)	Director Stock Units (a)	Weighted Average Grant Date Fair Value (b)		Employee Stock Units (c)	Weighted Average Grant Date Fair Value (b)
Outstanding balance at December 30, 2016	341.1	$	52.90	727.4	$	56.25
Granted	31.3	80.81		222.4	85.65
Converted	—	—		(155.4)	76.51
Canceled	—	—		(50.7)	59.25
Outstanding balance at December 29, 2017	372.4	55.25		743.7	60.61
Granted	34.5	70.92		237.9	74.98
Converted	(26.0)	60.95		(192.6)	64.15
Performance unit adjustments^(d)	—	—		(12.6)	89.00
Canceled	—	—		(52.0)	70.80
Outstanding balance at December 28, 2018	380.9	56.28		724.4	63.16
Granted	46.7	59.26		287.8	59.88
Converted	(43.4)	60.76		(259.9)	53.63
Performance unit adjustments^(d)	—	—		(44.2)	48.61
Canceled	—	—		(22.6)	67.34
Outstanding balance at January 3, 2020	384.2	$	56.13	685.5	$	66.20

(a)All director units are considered convertible although each individual has elected to defer conversion until a pre-arranged time.

(b)Director and employee stock units are granted at no cost to the participants.

(c)All employee stock units outstanding are not vested at year end and are expected to vest.

(d)Adjustments based on final evaluations for non-vested performance stock units.

The weighted-average remaining contractual term for outstanding employee units is 1.9 years.

The aggregate intrinsic value of units converted into stock represents the total pre-tax intrinsic value (calculated using Anixter's stock price on the date of conversion multiplied by the number of units converted) that was received by unit holders. The aggregate intrinsic value of units converted into stock for 2019, 2018 and 2017 was $17.8 million, $16.1 million and $13.2 million, respectively.

The aggregate intrinsic value of units outstanding represents the total pre-tax intrinsic value (calculated using Anixter's closing stock price on the last trading day of the fiscal year multiplied by the number of units outstanding) that will be received by the unit recipients upon vesting. The aggregate intrinsic value of units outstanding for 2019, 2018 and 2017 was $103.1 million, $59.5 million and $84.8 million, respectively.

The aggregate intrinsic value of units convertible represents the total pre-tax intrinsic value (calculated using Anixter's closing stock price on the last trading day of the fiscal year multiplied by the number of units convertible) that would have been received by the unit holders. The aggregate intrinsic value of units convertible for 2019, 2018 and 2017 was $37.0 million, $20.5 million and $28.3 million, respectively.

Stock Options

Options previously granted under these plans have been granted with exercise prices at the fair market value of the common stock on the date of grant. All options expire ten years after the date of grant. These options were granted with vesting periods of four years representing the requisite service period based on the specific terms of the grant. The Company generally issues new shares to satisfy stock option exercises as opposed to adjusting treasury shares. The fair value of stock option grants is amortized over the respective vesting period representing the requisite service period. The Company did not grant any stock options to employees during 2019, 2018 or 2017.

There was no compensation expense associated with the stock options in 2019. Compensation expense associated with the stock options in 2018 and 2017 was $0.8 million and $0.1 million, respectively. There were no unvested stock options in 2019 and 2018. The total fair value of stock options that vested was $0.5 million in 2017.

The following table summarizes the activity under the employee option plans:


(options in thousands)	Employee Options	Weighted Average Exercise Price
Balance at December 30, 2016	488.2	$	48.68
Exercised	(88.7)	56.43
Balance at December 29, 2017	399.5	46.96
Exercised	(51.8)	29.64
Balance at December 28, 2018	347.7	49.54
Exercised	(147.0)	32.14
Balance at January 3, 2020	200.7	$	62.27
Options exercisable at year-end:
2017	399.5	$	46.96
2018	347.7	$	49.54
2019	200.7	$	62.27

The weighted-average remaining contractual term for options exercisable and outstanding for 2019 was 2.9 years.

The aggregate intrinsic value of options exercised represents the total pre-tax intrinsic value (calculated as the difference between Anixter's stock price on the date of exercise and the exercise price, multiplied by the number of options exercised) that was received by the option holders. The aggregate intrinsic value of options exercised for 2019, 2018 and 2017 was $4.6 million, $2.4 million and $2.2 million, respectively.

The aggregate intrinsic value of options outstanding represents the total pre-tax intrinsic value (calculated as the difference between Anixter's closing stock price on the last trading day of each fiscal year and the weighted-average exercise price, multiplied by the number of options outstanding at the end of the fiscal year) that could be received by the option holders if such option holders exercised all options outstanding at fiscal year-end. The aggregate intrinsic value of options outstanding for 2019, 2018 and 2017 was $6.9 million, $1.5 million and $11.6 million, respectively.

The aggregate intrinsic value of options exercisable represents the total pre-tax intrinsic value (calculated as the difference between Anixter's closing stock price on the last trading day of each fiscal year and the weighted-average exercise price, multiplied by the number of options exercisable at the end of the fiscal year) that would have been received by the option holders had all option holders elected to exercise the options at fiscal year-end. The aggregate intrinsic value of options exercisable for 2019, 2018 and 2017 was $6.9 million, $1.5 million and $11.6 million, respectively.

Summary of Non-Vested Shares

The following table summarizes the changes to the non-vested shares:


(shares in thousands)	Non-vested Performance Shares (a)	Weighted-average Grant Date Fair Value
Balance at December 28, 2018	147.9	$	47.73
Granted	58.1	62.00
Vested	(55.2)	17.40
Performance unit adjustments^(b)	(44.2)	48.61
Canceled	—	—
Balance at January 3, 2020	106.6	$	70.84

(a)All non-vested stock performance units are expected to vest.

(b)Adjustments based on final evaluations for non-vested performance stock units.

As of January 3, 2020, there was $13.6 million of total unrecognized compensation cost related to non-vested stock units which is expected to be recognized over a weighted-average period of 1.4 years. As of January 3, 2020, all compensation cost related to options granted to employees has been fully recognized.

BUSINESS SEGMENTS

12 Months Ended

Jan. 03, 2020

BUSINESS SEGMENTS

Anixter is a leading distributor of network and security solutions, electrical and electronic wire and cable solutions and utility power solutions. The Company has identified NSS, EES and UPS as reportable segments. Within its segments, the Company is also organized by geographies. Anixter's geographies consist of North America, which includes the U.S. and Canada, EMEA, which includes Europe, the Middle East and Africa, and Emerging Markets, which includes Asia Pacific and Central and Latin America.

Corporate expenses are incurred to obtain and coordinate financing, tax, information technology, legal and other related services, certain of which were rebilled to subsidiaries. The Company also has various corporate assets which are reported in corporate. Segment assets may not include jointly used assets, but segment results include depreciation expense or other allocations related to those assets as such allocation is made for internal reporting. Interest expense and other non-operating items are not allocated to the segments or reviewed on a segment basis. Intercompany transactions are not significant. No customer accounted for more than 3% of sales in 2019.

The categorization of net sales by end market is determined using a variety of data points including the technical characteristic of the product, the "sold to" customer information, the "ship to" customer information and the end customer product or application into which product will be incorporated. Anixter also has largely specialized its sales organization by segment. As data systems for capturing and tracking this data evolve and improve, the categorization of products by end market can vary over time. When this occurs, the Company reclassifies net sales by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market.

Segment Financial Information

Segment information for 2019, 2018 and 2017 are as follows:


(In millions)
2019	NSS		EES		UPS		Corporate (a)		Total
Net sales	$	4,696.2	$	2,352.0	$	1,797.4	$	—	$	8,845.6
Operating income (loss)	325.5		139.5		83.5		(181.0)		367.5
Depreciation	9.4		7.3		3.7		16.8		37.2
Amortization of intangible assets	16.4		5.4		13.2		—		35.0
Total assets	2,224.8		1,085.2		943.6		555.2		4,808.9
Capital expenditures	3.1		1.7		14.6		20.6		40.0


2018	NSS		EES		UPS		Corporate (a)		Total
Net sales	$	4,347.0	$	2,342.7	$	1,710.5	$	—	$	8,400.2
Operating income (loss)	272.2		132.3		75.4		(170.2)		309.7
Depreciation	3.8		2.4		3.6		21.9		31.7
Amortization of intangible assets	17.0		7.0		13.3		—		37.3
Total assets	2,319.3		1,097.4		905.5		330.9		4,653.1
Capital expenditures	8.7		2.0		6.7		25.0		42.4


2017	NSS		EES		UPS		Corporate (a)		Total
Net sales	$	4,114.4	$	2,225.5	$	1,587.5	$	—	$	7,927.4
Operating income (loss)	262.6		114.3		73.1		(137.1)		312.9
Depreciation	3.1		2.4		3.9		18.8		28.2
Amortization of intangible assets	14.4		8.4		13.3		—		36.1
Total assets	1,947.1		1,068.3		871.4		365.4		4,252.2
Capital expenditures	3.7		1.9		1.7		33.8		41.1

(a)Corporate "Total assets" primarily consists of cash and cash equivalents, deferred tax assets, and corporate fixed assets. Total assets in 2019 include the impact of the Company's adoption of ASU 2016-02, Leases, which resulted in the recognition of right-of-use assets for all leases with terms of more than 12 months.

The items impacting operating expense and operating income by segment in 2019, 2018 and 2017 are reflected in the tables below. All other items impacted consolidated results only and were not allocated to segments.


	Year Ended January 3, 2020
(In millions)	NSS		EES		UPS		Corporate		Total
Amortization of intangible assets	$	(16.4)	$	(5.4)	$	(13.2)	$	—	$	(35.0)
Merger costs	—		—		—		(12.8)		(12.8)
Restructuring charge	—		(0.5)		0.1		0.4		—
Acquisition and integration costs	—		—		—		0.3		0.3
Total of items impacting operating expense and operating income	$	(16.4)	$	(5.9)	$	(13.1)	$	(12.1)	$	(47.5)


	Year Ended December 28, 2018
(In millions)	NSS		EES		UPS		Corporate		Total
Amortization of intangible assets	$	(17.0)	$	(7.0)	$	(13.3)	$	—	$	(37.3)
Restructuring charge	(2.1)		(1.3)		(0.7)		(5.3)		(9.4)
Acquisition and integration costs	(2.6)		—		—		(0.3)		(2.9)
CEO retirement agreement expense	—		—		—		(2.6)		(2.6)
U.K. facility relocation costs	(0.2)		(0.8)		—		—		(1.0)
Total of items impacting operating expense and operating income	$	(21.9)	$	(9.1)	$	(14.0)	$	(8.2)	$	(53.2)


	Year Ended December 29, 2017
(In millions)	NSS		EES		UPS		Corporate		Total
Amortization of intangible assets	$	(14.4)	$	(8.4)	$	(13.3)	$	—	$	(36.1)
Restructuring charge	—		0.5		(0.1)		(0.4)		—
Acquisition and integration costs	—		—		—		(2.3)		(2.3)
Impairment of intangible assets	(5.7)		—		—		—		(5.7)
Total of items impacting operating expense and operating income	$	(20.1)	$	(7.9)	$	(13.4)	$	(2.7)	$	(44.1)

Geographic Information

The Company attributes foreign sales based on the location of the customer purchasing the product. In North America (U.S. and Canada), sales in the U.S. were $6,294.6 million, $6,004.7 million and $5,771.5 million in 2019, 2018 and 2017, respectively. Canadian sales were $858.0 million, $837.4 million and $772.5 million in 2019, 2018 and 2017 respectively. No other individual foreign country’s net sales within EMEA or the Emerging Markets were material in 2019, 2018 and 2017. The Company's tangible long-lived assets primarily consist of $147.9 million of property and equipment in the U.S. No other individual foreign country’s tangible long-lived assets are material.

The following table summarizes net sales by geographic areas for the years ended January 3, 2020, December 28, 2018 and December 29, 2017:


	Years Ended
(In millions)	January 3, 2020						December 28, 2018						December 29, 2017
Sales	Net Sales		% of Total Net Sales		Net Sales		% of Total Net Sales		Net Sales		% of Total Net Sales
North America	$	7,152.6	80.9	%	$	6,842.1	81.5	%	$	6,544.0	82.5	%
EMEA	625.5		7.0	%	660.3		7.8	%	626.3		7.9	%
Emerging Markets	1,067.5		12.1	%	897.8		10.7	%	757.1		9.6	%
Net sales	$	8,845.6	100.0	%	$	8,400.2	100.0	%	$	7,927.4	100.0	%

The following table summarizes total assets and net property and equipment by geographic areas for the years ended January 3, 2020 and December 28, 2018:


(In millions)	January 3, 2020		December 28, 2018
Total assets
North America	$	3,861.1	$	3,709.4
EMEA	299.2		302.2
Emerging Markets	648.6		641.5
Total assets	$	4,808.9	$	4,653.1


(In millions)	January 3, 2020		December 28, 2018
Net property and equipment
North America	$	156.2	$	144.2
EMEA	9.5		9.7
Emerging Markets	9.2		9.4
Net property and equipment	$	174.9	$	163.3

Goodwill Assigned to Segments

The following table presents the changes in goodwill allocated to the Company's reporting units from December 29, 2017 to January 3, 2020:


(In millions)	NSS		EES		UPS		Total
Balance as of December 29, 2017	$	408.8	$	181.7	$	187.6	$	778.1
Acquisition related ^(a)	73.2		—		—		73.2
Foreign currency translation and other	(9.3)		(0.8)		(9.2)		(19.3)
Balance as of December 28, 2018	$	472.7	$	180.9	$	178.4	$	832.0
Acquisition related ^(a)	0.2		—		—		0.2
Foreign currency translation and other	(9.3)		0.4		5.4		(3.5)
Balance as of January 3, 2020	$	463.6	$	181.3	$	183.8	$	828.7

(a) In the second quarter of 2018, the Company completed the acquisition of security businesses in Australia and New Zealand for $150.1 million, including a preliminary net working capital adjustment of $4.6 million. The transaction was financed primarily from borrowings under the revolving lines of credit. The purchase price was preliminarily allocated to $32.6 million of working capital and $60.6 million of intangible assets during the year ended 2018. Acquisition costs were $2.6 million. The year ended 2018 results include approximately $71.9 million of sales from the acquired entities. The purchase price allocation was finalized in 2019.

SUMMARIZED FINANCIAL INFORMATION OF ANIXTER INC.

12 Months Ended

Jan. 03, 2020

SUMMARIZED FINANCIAL INFORMATION OF ANIXTER INC.

Anixter International Inc. guarantees, fully and unconditionally, substantially all of the debt of its subsidiaries, which include Anixter Inc., its 100% owned primary operating subsidiary. Anixter International Inc. has no independent assets or operations and all subsidiaries other than Anixter Inc. are minor. The following summarizes the financial information for Anixter Inc.:

ANIXTER INC.

CONDENSED CONSOLIDATED BALANCE SHEETS


(In millions)	January 3, 2020		December 28, 2018
Assets:
Current assets	$	3,035.3	$	3,171.6
Property and equipment, net	179.5		169.1
Operating leases	265.1		—
Goodwill	828.7		832.0
Intangible assets, net	361.2		392.9
Other assets	132.9		92.9
	$	4,802.7	$	4,658.5
Liabilities and Stockholder's Equity:
Current liabilities	$	1,492.8	$	1,630.3
Long-term debt	1,065.9		1,260.7
Operating lease obligations	213.0		—
Other liabilities	172.6		199.6
Stockholder’s equity	1,858.4		1,567.9
	$	4,802.7	$	4,658.5

ANIXTER INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Net sales	$	8,845.6	$	8,400.2	$	7,927.4
Operating income	$	374.9	$	316.4	$	319.4
Income before income taxes	$	300.1	$	229.1	$	243.2
Net income	$	268.1	$	160.9	$	112.6
Comprehensive income	$	277.9	$	101.8	$	153.2

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Jan. 03, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

The following is a summary of the unaudited interim results of operations for each quarter in the years ended January 3, 2020 and December 28, 2018. The Company's fiscal year includes 53 weeks in 2019 and 52 weeks in 2018, with the extra week in 2019 in the fourth quarter. As of February 12, 2020, Anixter had 1,597 shareholders of record.


(In millions, except per share amounts)
Year ended January 3, 2020	First Quarter^(a)		Second Quarter^(b)		Third Quarter^(c)		Fourth Quarter^(d)
Net sales	$	2,108.5	$	2,262.6	$	2,222.2	$	2,252.3
Cost of goods sold	1,689.6		1,812.6		1,775.8		1,791.8
Operating income	74.6		105.7		101.8		85.4
Income before income taxes	56.0		85.6		82.1		69.7
Net income	$	39.1	$	63.5	$	59.3	$	101.0
Income per share:
Basic	$	1.15	$	1.86	$	1.74	$	2.95
Diluted	$	1.14	$	1.86	$	1.73	$	2.93

(a)In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.

(b)In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.

(c)In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.

(d)In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.


(In millions, except per share amounts)
Year ended December 28, 2018	First Quarter^(a)		Second Quarter^(b)		Third Quarter^(c)		Fourth Quarter^(d)
Net sales	$	1,964.2	$	2,137.9	$	2,179.0	$	2,119.1
Cost of goods sold	1,579.4		1,718.8		1,754.9		1,689.1
Operating income	61.6		71.3		89.5		87.3
Income before income taxes	45.7		49.0		68.6		59.9
Net income	$	32.1	$	34.8	$	47.6	$	41.8
Income per share:
Basic	$	0.95	$	1.03	$	1.41	$	1.23
Diluted	$	0.94	$	1.02	$	1.40	$	1.22

(a)In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

(b)In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.

(c)In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

(d)In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs. "Income before income taxes" includes a $4.6 million loss on extinguishment of debt.

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Jan. 03, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTOn January 13, 2020, Anixter and WESCO International, Inc. ("WESCO") announced that their boards of directors have unanimously approved a definitive merger agreement under which WESCO will acquire Anixter in a transaction valued at approximately $4.5 billion. Under the terms of the agreement, each share of Anixter common stock will be converted into the right to receive $70.00 in cash (subject to increase), 0.2397 shares of WESCO common stock and preferred stock consideration valued at $15.89, based on the value of its liquidation preference. Based on the closing price of WESCO's common stock on January 10, 2020 and the liquidation preference of the WESCO preferred stock consideration, the total consideration represents approximately $100 per Anixter share, giving effect to the downside protection. Based on the transaction structure and the number of shares of WESCO and Anixter common stock currently outstanding, it is anticipated that WESCO stockholders will own 84% and Anixter stockholders will own 16% of the combined company. The transaction is subject to Anixter stockholder approval, receipt of regulatory approval in the United States, Canada and certain other foreign jurisdictions, as well as other customary closing conditions.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT ANIXTER INTERNATIONAL INC.

12 Months Ended

Jan. 03, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

STATEMENTS OF INCOME AND COMPREHENSIVE INCOME


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Operating loss	$	(6.1)	$	(5.4)	$	(5.2)
Other income:
Interest income, including intercompany	9.5		8.3		6.8
Income before income taxes and equity in earnings of subsidiaries	3.4		2.9		1.6
Income tax expense	0.7		0.7		0.6
Income before equity in earnings of subsidiaries	2.7		2.2		1.0
Equity in earnings of subsidiaries	260.2		154.1		108.0
Net income	$	262.9	$	156.3	$	109.0
Comprehensive income	$	272.7	$	97.2	$	149.6

See accompanying note to the condensed financial information of registrant.

BALANCE SHEETS


(In millions)	January 3, 2020		December 28, 2018
ASSETS
Current assets:
Cash and cash equivalents	$	0.5	$	0.2
Other assets	0.2		0.1
Total current assets	0.7		0.3
Other assets (primarily investment in and advances to subsidiaries)	1,861.8		1,571.9
	$	1,862.5	$	1,572.2
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Accounts payable and accrued expenses, due currently	$	0.2	$	0.2
Other non-current liabilities	1.4		1.6
Total liabilities	1.6		1.8
Stockholders’ equity:
Common stock	34.2		33.9
Capital surplus	310.2		292.7
Retained earnings	1,783.8		1,513.2
Accumulated other comprehensive loss	(267.3)		(269.4)
Total stockholders’ equity	1,860.9		1,570.4
	$	1,862.5	$	1,572.2

See accompanying note to the condensed financial information of registrant.

STATEMENTS OF CASH FLOWS


	Years Ended
	January 3, 2020		December 28, 2018		December 29, 2017
(In millions)
Operating activities:
Net income	$	262.9	$	156.3	$	109.0
Adjustments to reconcile net income to net cash used in operating activities:
Equity in earnings of subsidiaries	(260.2)		(154.1)		(108.0)
Dividend from subsidiary	7.8		8.0		3.7
Stock-based compensation	2.8		2.4		2.5
Income tax expense	0.7		0.7		0.6
Intercompany transactions	(17.3)		(14.7)		(13.2)
Changes in assets and liabilities, net	(0.1)		(0.1)		(0.1)
Net cash used in operating activities	(3.4)		(1.5)		(5.5)
Investing activities:
Other	(1.0)		—		—
Net cash used in investing activities	(1.0)		—		—
Financing activities:
Proceeds from stock options exercised	4.7		1.5		5.0
Loans from subsidiaries, net	—		—		0.7
Other, net	—		—		(0.2)
Net cash provided by financing activities	4.7		1.5		5.5
Increase in cash and cash equivalents	0.3		—		—
Cash and cash equivalents at beginning of period	0.2		0.2		0.2
Cash and cash equivalents at end of period	$	0.5	$	0.2	$	0.2

See accompanying note to the condensed financial information of registrant.Note A — Basis of PresentationIn the parent company condensed financial statements, our investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. Our share of net income of our unconsolidated subsidiaries is included in consolidated income using the equity method. The parent company financial statements should be read in conjunction with our Consolidated Financial Statements. See Note 5. "Debt" in the notes to the Consolidated Financial Statements for details on dividend restrictions from Anixter Inc. to the parent company.

Significant Accounting Policies [Text Block]

Basis of PresentationIn the parent company condensed financial statements, our investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. Our share of net income of our unconsolidated subsidiaries is included in consolidated income using the equity method. The parent company financial statements should be read in conjunction with our Consolidated Financial Statements. See Note 5. "Debt" in the notes to the Consolidated Financial Statements for details on dividend restrictions from Anixter Inc. to the parent company.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jan. 03, 2020

Organization

Organization: Anixter International Inc. and its subsidiaries (collectively referred to as "Anixter" or the "Company"), formerly known as Itel Corporation, which was incorporated in Delaware in 1967, is a leading distributor of enterprise cabling and security solutions, electrical and electronic wire and cable solutions and utility power solutions through Anixter Inc. and its subsidiaries.

Basis of presentation

Basis of presentation: The Consolidated Financial Statements include the accounts of Anixter International Inc. and its subsidiaries. The Company's fiscal year ends on the Friday nearest December 31 and includes 53 weeks in 2019 and 52 weeks in 2018 and 2017. Certain prior period amounts have been reclassified to conform to the current year presentation.

Use of estimates

Use of estimates: The preparation of financial statements in conformity with generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Anixter's significant estimates include allowance for doubtful accounts, inventory obsolescence, pension obligations, goodwill and indefinite-lived intangible assets, deferred tax assets and uncertain tax positions.

Cash and cash equivalents

Cash and cash equivalents: Cash equivalents consist of short-term, highly liquid investments with an original maturity three months or less. Such investments are stated at cost, which approximates fair value.

Receivables and allowance for doubtful accounts

Receivables and allowance for doubtful accounts: The Company carries its accounts receivable at their face amounts less an allowance for doubtful accounts, which was $30.4 million and $39.9 million at the end of 2019 and 2018, respectively. On a regular basis, Anixter evaluates its accounts receivable and establishes the allowance for doubtful accounts based on a combination of specific customer circumstances, as well as credit conditions and history of write-offs and collections. The amounts charged to income for doubtful accounts were $10.1 million, $8.5 million and $10.0 million in 2019, 2018 and 2017, respectively. A receivable is considered past due if payments have not been received within the agreed upon invoice terms. Receivables are written off and deducted from the allowance account when the receivables are deemed uncollectible.

Inventories

Inventories: Inventories, consisting primarily of purchased finished goods, are stated at the lower of cost or market. Cost is determined using the average-cost method. The Company has agreements with some vendors that provide a right to return products. This right is typically limited to a small percentage of total purchases from that vendor. Such rights provide that Anixter can return slow-moving product and the vendor will replace it with faster-moving product chosen by the Company. Some vendor agreements contain price protection provisions that require the manufacturer to issue a credit in an amount sufficient to reduce Anixter's current inventory carrying cost down to the manufacturer’s current price. The Company considers these agreements in determining the reserve for obsolescence.

At January 3, 2020 and December 28, 2018, the Company reported inventory of $1,354.7 million and $1,440.4 million, respectively (net of inventory reserves of $50.0 million and $51.5 million, respectively). Each quarter the Company reviews for excess inventories and makes an assessment of the net realizable value. There are many factors that management considers in determining whether or not the amount by which a reserve should be established. These factors include the following:

•Return or rotation privileges with vendors

•Price protection from vendors

•Expected future usage

•Whether or not a customer is obligated by contract to purchase the inventory

•Current market pricing

•Historical consumption experience

•Risk of obsolescence

If circumstances related to the above factors change, there could be a material impact on the net realizable value of the inventories.

Advertising and sales promotion

Property and equipment: At January 3, 2020, net property and equipment consisted of $126.0 million of equipment and computer software, $39.5 million of buildings and leasehold improvements, $8.4 million of finance leases and $1.0 million of land. At December 28, 2018, net property and equipment consisted of $125.8 million of equipment and computer software, $36.5 million of buildings and leasehold improvements and $1.0 million of land. Equipment and computer software are recorded at cost and depreciated by applying the straight-line method over their estimated useful lives, which range from 2 to 20 years. Buildings are recorded at cost and depreciated by applying the straight-line method over their estimated useful lives, which are up to 40 years. Leasehold improvements are depreciated over their useful life or over the term of the related lease, whichever is shorter. Upon sale or retirement, the cost and related depreciation are removed from the respective accounts and any gain or loss is included in income. Maintenance and repair costs are expensed as incurred. Depreciation expense, including an immaterial amount of finance lease depreciation, was $37.2 million, $31.7 million and $28.2 million in 2019, 2018 and 2017, respectively.

The Company evaluates the recoverability of the carrying amount of its property and equipment whenever events or circumstances indicate that the carrying amount of an asset may not be fully recoverable. In order to measure an impairment loss of property and equipment, the Company estimates the fair value by using an orderly liquidation valuation. An orderly liquidation value is the amount that could be realized from a liquidation sale, given a reasonable period of time to find a purchaser (or purchasers), with the seller being compelled to sell the asset in the existing condition where it is located, as of a specific date, assuming the highest and best use of the asset by market participants. The valuation method also considers that it is physically possible, legally permissible and financially feasible to use the asset at the measurement date. The inputs used for the valuation include significant unobservable inputs, or Level 3 inputs, as described in the accounting fair value hierarchy, based on assumptions that market participants would use. A second step of the analysis is performed by comparing the orderly liquidation value to the carrying amount of that asset. The orderly liquidation values are applied against the original cost of the assets and the impairment loss measured as the difference between the liquidation value of the assets and the net book value of the assets.

Costs for software developed for internal use are capitalized when the preliminary project stage is complete and Anixter has committed funding for projects that are likely to be completed. Costs that are incurred during the preliminary project stage are expensed as incurred. Once the capitalization criteria has been met, external direct costs of materials and services consumed in developing internal-use computer software, payroll and payroll-related costs for employees who are directly associated with and who devote time to the internal-use computer software project (to the extent of their time spent directly on the project) and interest costs incurred when developing computer software for internal use are capitalized. At January 3, 2020 and December 28, 2018, capitalized costs, net of accumulated amortization, for software developed for internal use were approximately $60.8 million and $64.7 million, respectively. Amortization expense charged to operations for capitalized costs was $7.2 million, $6.6 million and $5.5 million in 2019, 2018 and 2017, respectively. Interest expense incurred in connection with the development of internal use software is capitalized based on the amounts of accumulated expenditures and the weighted-average cost of borrowings for the period. Interest costs capitalized for fiscal 2019, 2018 and 2017 were $0.9 million, $0.1 million and $0.3 million, respectively.

Leases

Leases: The Company adopted Accounting Standards Update ("ASU") 2016-02, Leases, as of December 29, 2018. The adoption of this standard is discussed below within the section titled "Recently issued and adopted accounting pronouncements." At contract inception the Company determines if an arrangement is a lease. Operating leases are included in "Operating leases", "Current operating lease obligations" and "Operating lease obligations" on the Consolidated Balance Sheets. Finance leases are included in "Property and equipment, net", "Accrued expenses" and "Long-term debt" on the Consolidated Balance Sheets. The gross amount of the balances recorded related to finance leases was immaterial as of January 3, 2020, and December 28, 2018. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. Operating lease expense is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components and has elected to account for these components as a single lease component.Operating lease assets and liabilities are recognized at the commencement date, based on the present value of the future minimum lease payments. A certain number of these leases contain rent escalation clauses either fixed or adjusted periodically for inflation or market rates that are factored into the Company's determination of lease payments. Anixter also has variable lease payments that do not depend on a rate or index, primarily for items such as common area maintenance and real estate taxes, which are recorded as variable expense when incurred. The operating lease asset includes advance payments and excludes incentives and initial direct costs incurred. As most of Anixter’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date to discount payments to the present value. Most operating leases contain renewal options, some of which also include options to early terminate the leases. The exercise of these options is at the Company's discretion. Lease terms include these options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

Goodwill

Goodwill: The Company evaluates goodwill for impairment annually at the beginning of the third quarter and when events or changes in circumstances indicate the carrying value of reporting units might exceed their current fair values. The Company assesses goodwill for impairment by first performing a qualitative assessment, which considers specific factors, based on the weight of evidence, and the significance of all identified events and circumstances in the context of determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying amount using the qualitative assessment, Anixter performs the two-step impairment test. The Company may also bypass the qualitative assessment and proceed directly to the two-step impairment test. The first step of the impairment test is to identify a potential impairment by comparing the fair value of a reporting unit with its carrying amount. The estimates of fair value of a reporting unit are determined using the income approach and the market approach as described below. If step one of the test indicates a carrying value above the estimated fair value, the second step of the goodwill impairment test is performed by comparing the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. The implied residual value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination.

The income approach is a quantitative evaluation to determine the fair value of the reporting unit. Under the income approach fair value is determined based on estimated future cash flows discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of the reporting unit and the rate of return a market participant would expect to earn. The inputs used for the income approach are significant unobservable inputs, or Level 3 inputs, as described in the accounting fair value hierarchy. Estimated future cash flows are based on internal projection models, industry projections and other assumptions deemed reasonable by management.

The market approach measures the fair value of a reporting unit through the analysis of recent sales, offerings, and financial multiples (earnings before interest, tax, depreciation and amortization ("EBITDA")) of comparable businesses, which would be considered Level 2 in the fair value hierarchy. Consideration is given to the financial conditions and operating performance of the reporting unit being valued relative to those publicly-traded companies operating in the same or similar lines of business.

In connection with the annual assessment of goodwill at the beginning of the third quarter of 2019, the Company bypassed the qualitative assessment and performed a quantitative test for all reporting units and utilized a combination of the income and market approaches. As a result of this assessment, the Company concluded that no impairment existed and the carrying amount of goodwill to be fully recoverable.

Intangible assets

Intangible assets: As of January 3, 2020 and December 28, 2018, the Company's intangible asset balances are as follows:


		January 3, 2020						December 28, 2018
(In millions)	Average useful life (in years)	Gross carrying amount		Accumulated amortization		Gross carrying amount		Accumulated amortization
Customer relationships	6-20	$	503.6	$	(176.4)	$	500.1	$	(143.7)
Exclusive supplier agreement	21	22.3		(5.6)		22.1		(4.5)
Trade names	3-10	22.6		(13.5)		21.8		(12.6)
Trade names	Indefinite	4.9		—		4.9		—
Non-compete agreements	1-5	9.2		(7.9)		9.2		(6.5)
Intellectual property	8	2.5		(0.5)		2.3		(0.2)
Total		$	565.1	$	(203.9)	$	560.4	$	(167.5)

Anixter continually evaluates whether events or circumstances have occurred that would indicate the remaining estimated useful lives of intangible assets warrant revision or that the remaining balance of such assets may not be recoverable. Trade names that have been identified to have indefinite lives are not being amortized based on the expectation that the trade name products will generate future cash flows for the foreseeable future. In 2017, the Company recorded an impairment charge of $5.7 million related to certain indefinite-lived trade names in its NSS reporting unit. This impairment charge is included in "Operating expenses" in the Consolidated Statement of Income. The impairment charge was recorded as Anixter no longer plans to use certain trade names on certain products. All remaining indefinite-lived trade names are expected to be used on existing products for the foreseeable future.

For definite-lived intangible assets, the Company uses an estimate of the related undiscounted cash flows over the remaining life of the asset in measuring whether the asset is recoverable. The Company's definite-lived intangible assets are primarily related to customer relationships. In order to measure an impairment loss of customer relationships, Anixter estimates the fair value by using an excess earnings model, a form of the income approach. The analysis requires making various judgments, including assumptions about future cash flows based on projected growth rates of revenue and expense, rates of customer attrition and working capital needs. The assumptions about future cash flows and growth rates are based on management’s forecast of the asset group. The key inputs utilized in determining the fair value of customer relationships include significant unobservable inputs, or Level 3 inputs, as described in the accounting fair value hierarchy. Inputs included discount rates derived from an estimated weighted-average cost of capital, which reflected the overall level of inherent risk of the asset group and the rate of return a market participant would expect to earn, as well as customer attrition rates.

Intangible amortization expense is expected to average $33.6 million per year for the next five years. The Company's definite lived intangible assets are amortized over a straight line basis as it approximates the customer attrition patterns and best estimates the use pattern of the assets.

Other, net

Other, net: The following represents the components of "Other, net" as reflected in the Consolidated Statements of Income:


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Other, net:
Foreign exchange loss	$	(2.2)	$	(8.2)	$	(3.4)
Cash surrender value of life insurance policies	4.4		(1.3)		2.4
Net periodic pension benefit	2.4		5.1		0.2
Loss on extinguishment of debt	—		(4.6)		—
Other	(1.6)		(1.2)		0.2
Total other, net	$	3.0	$	(10.2)	$	(0.6)

Certain subsidiaries of Anixter conduct business in a currency other than the legal entity’s functional currency. Transactions may produce receivables or payables that are fixed in terms of the amount of foreign currency that will be received or paid. A change in exchange rates between the functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. The increase or decrease in expected functional currency cash flows is a foreign currency transaction gain or loss that is included in "Other, net" in the Consolidated Statements of Income.

The Company purchases foreign currency forward contracts to minimize the effect of fluctuating foreign currency-denominated accounts on its reported income. The foreign currency forward contracts are not designated as hedges for accounting purposes. The Company's strategy is to negotiate terms for its derivatives and other financial instruments to be highly effective, such that the change in the value of the derivative offsets the impact of the underlying hedged item (e.g., various foreign currency-denominated accounts). Its counterparties to foreign currency forward contracts have investment-grade credit ratings. Anixter expects the creditworthiness of its counterparties to remain intact through the term of the transactions. The Company regularly monitors the creditworthiness of its counterparties to ensure no issues exist which could affect the value of the derivatives.

The Company does not hedge 100% of its foreign currency-denominated accounts. In addition, the results of hedging can vary significantly based on various factors, such as the timing of executing the foreign currency forward contracts versus the movement of the currencies as well as the fluctuations in the account balances throughout each reporting period. The fair value of the foreign currency forward contracts is based on the difference between the contract rate and the current exchange rate. The fair value of the foreign currency forward contracts is measured using observable market information. These inputs would be considered Level 2 in the fair value hierarchy. At January 3, 2020 and December 28, 2018, foreign currency forward contracts were revalued at then-current foreign exchange rates with the changes in valuation reflected directly in "Other, net" in the Consolidated Statements of Income offsetting the transaction gain/loss recorded on the foreign currency-denominated accounts. At January 3, 2020 and December 28, 2018, the gross notional amount of the foreign currency forward contracts outstanding was approximately $130.2 million and $96.3 million, respectively. At January 3, 2020 and December 28, 2018, the net notional amount of the foreign currency forward contracts outstanding was approximately $95.4 million and $75.7 million, respectively. While all of the Company's foreign currency forward contracts are subject to master netting arrangements with its counterparties, assets and liabilities related to these contracts are presented on a gross basis within the Consolidated Balance Sheets. The gross fair value of assets and liabilities related to foreign currency forward contracts are immaterial.

The combined effect of changes in both the equity and bond markets resulted in changes in the cash surrender value of the Company's company owned life insurance policies associated with the sponsored deferred compensation program.

Fair value measurement

Fair value measurement: Assets and liabilities measured at fair value on a recurring basis consist of foreign currency forward contracts and the assets of Anixter's defined benefit plans. The fair value of the foreign currency forward contracts is discussed above in the section titled "Other, net." The fair value of the assets of Anixter's defined benefit plans is discussed in Note 8. "Pension Plans, Post-Retirement Benefits and Other Benefits". Fair value disclosures of debt are discussed in Note 5. "Debt".

The Company measure the fair values of goodwill, intangible assets and property and equipment on a nonrecurring basis if required by impairment tests applicable to these assets. The fair value measurements of goodwill, intangible assets and property and equipment are discussed above.

The inputs used in the determination of fair values are categorized according to the fair value hierarchy as being Level 1, Level 2 or Level 3. In general, fair values determined by Level 1 inputs use quoted prices in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar assets or liabilities in active markets, and other inputs such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset or liability. In instances where inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability.

Revenue recognition

Revenue recognition: Anixter is a leading global distributor of network and security solutions, electrical and electronic solutions and utility power solutions. Through a global distribution network along with supply chain and technical expertise, Anixter helps customers reduce the risk, cost and complexity of their supply chains. Anixter is a leader in providing advanced inventory management services including procurement, just-in-time delivery, material management programs, turn-key yard layout and management, quality assurance testing, component kit production, storm/event kitting, small component assembly and e-commerce and electronic data interchange to a broad spectrum of customers with nearly 600,000 products. Revenue arrangements primarily consist of a single performance obligation to transfer promised goods or services. See Note 10. "Business Segments" for revenue disaggregated by geography.

Sales to customers and related cost of sales are primarily recognized at the point in time when control of goods transfers to the customer. For product sales, this generally occurs upon shipment of the products, however, this may occur at a later date depending on the agreed upon sales terms, such as delivery at the customer's designated location, or based on consignment terms. In instances where goods are not stocked by Anixter and delivery times are critical, product is purchased from the manufacturer and drop-shipped to the customer. Anixter generally takes control of the goods when shipped by the manufacturer and then recognizes revenue when control of the product transfers to the customer. When providing services, sales are recognized over time as control transfers to the customer, which occurs as services are rendered.

Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. The Company estimates different forms of variable consideration at the time of sale based on historical experience, current conditions and contractual obligations. Revenue is recorded net of customer discounts, rebates and similar charges. When Anixter offers the right to return product, historical experience is utilized to establish a liability for the estimate of expected returns, which was $36.7 million and $35.0 million at January 3, 2020 and December 28, 2018, respectively. Sales and other tax amounts collected from customers for remittance to governmental authorities are excluded from revenue. The Company has elected to treat shipping and handling as a fulfillment activity. The practical expedient not to disclose information about remaining performance obligations has also been elected as these contacts have an original duration of one year or less or are contracts where the Company has applied the practical expedient to recognize service revenue in proportion to the amount Anixter has the right to invoice. The Company typically receives payment 30 to 60 days from the point it has satisfied the related performance obligation.

At December 28, 2018, $17.2 million of deferred revenue related to outstanding contracts was reported in "Accrued expenses" in the Company's Consolidated Balance Sheet. This balance primarily represents prepayments from customers. During the year ended January 3, 2020, $14.9 million of this deferred revenue was recognized. At January 3, 2020, deferred revenue was $11.6 million. The Company expects to recognize this balance as revenue within the next twelve months.

Advertising and sales promotion: Advertising and sales promotion costs are expensed as incurred. Advertising and promotion costs included in operating expenses on the Consolidated Statements of Income were $15.6 million, $15.8 million and $10.6 million in 2019, 2018 and 2017, respectively. The majority of the advertising and sales promotion costs are recouped through various cooperative advertising programs with vendors.

Shipping and handling fees and costs

Shipping and handling fees and costs: Shipping and handling fees billed to customers are included in net sales. Shipping and handling costs associated with outbound freight are included in "Operating expenses" on the Consolidated Statements of Income, which were $133.1 million, $139.7 million and $119.1 million in 2019, 2018 and 2017, respectively.

Accumulated other comprehensive loss

Stock-based compensation: The Company measures the cost of all share-based payments to employees, including grants of employee stock options, using a fair-value-based method. Compensation costs are determined based on the fair value at the grant date and amortized over the respective vesting period representing the requisite service period. The Company accounts for forfeitures of share-based payments as they occur.

Accumulated other comprehensive loss: Unrealized gains and losses are accumulated in "Accumulated other comprehensive loss" ("AOCI"). These changes are also reported in "Other comprehensive income (loss)" on the Consolidated Statements of Comprehensive Income. These include unrealized gains and losses related to the Company's defined benefit obligations and foreign currency translation. See Note 8. "Pension Plans, Post-Retirement Benefits and Other Benefits" for pension related amounts reclassified into net income.

Investments in several subsidiaries are recorded in currencies other than the U.S. dollar ("USD"). As these foreign currency denominated investments are translated at the end of each period during consolidation using period-end exchange rates, fluctuations of exchange rates between the foreign currency and the USD increase or decrease the value of those investments. The results of operations for foreign subsidiaries, where the functional currency is not the USD, are translated into USD using the average exchange rates during the periods reported, while the assets and liabilities are translated using period-end exchange rates. The assets and liabilities related translation adjustments are recorded as a separate component of AOCI, "Foreign currency translation." In addition, as Anixter's subsidiaries maintain investments denominated in currencies other than local currencies, exchange rate fluctuations will occur. Borrowings are raised in certain foreign currencies to minimize the exchange rate translation adjustment risk.

Income taxes

Income taxes: Deferred taxes are recognized for the future tax effects of temporary differences between financial and income tax reporting based upon enacted tax laws and rates. The Company maintains valuation allowances to reduce deferred tax assets if it is more likely than not that some portion or all of the deferred tax asset will not be realized based on available evidence. Anixter recognizes the benefit of tax positions when a benefit is more likely than not (i.e., greater than 50% likely) to be sustained on its technical merits. Recognized tax benefits are measured at the largest amount that is more likely than not to be sustained, based on cumulative probability, in final settlement of the position.

Net income per share

Net income per share: Diluted net income per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.

The Company had 0.2 million, 0.3 million, and 0.4 million in 2019, 2018 and 2017, respectively, of additional shares related to stock options and stock units included in the computation of diluted earnings per share because the effect of those common stock equivalents were dilutive during these periods. Antidilutive stock options and units are excluded from the calculation of weighted-average shares for diluted earnings per share. For 2019, 2018 and 2017, the antidilutive stock options and units were immaterial.

Recently issued and adopted accounting pronouncements

Recently issued and adopted accounting pronouncements: In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases, which requires lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. In July 2018, the FASB issued additional authoritative guidance providing companies with an optional transition method to use the effective date of ASU 2016-02 as the date of initial application of transition and not restate comparative periods. The Company adopted the standard in the first quarter of 2019 using this optional transition method. The Company elected the package of practical expedients, which allows it to carry forward historical lease classification, the practical expedient to not separate non-lease components from lease components, and the short-term lease accounting policy election as defined in ASU 2016-02. The Company implemented internal controls and a lease accounting information system to enable the preparation of financial information on adoption. The standard had a material impact on the Company's Consolidated Balance Sheet, but did not have an impact on the Consolidated Statements of Income. The most significant impact was the recognition of right-of-use assets of $244.1 million and lease liabilities of $249.6 million for operating leases, while accounting for finance leases remained substantially unchanged.

In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which will allow a reclassification from accumulated other comprehensive income to retained earnings for the tax effects resulting from the December 22, 2017 enactment of the Tax Cuts and Jobs Act (the "Act") that are stranded in accumulated other comprehensive income. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company adopted this standard effective the first quarter of fiscal year 2019 and elected to reclassify $7.7 million of tax benefits from "Accumulated other comprehensive loss" to "Retained earnings" within its Consolidated Financial Statements.

In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting, which will expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company adopted this standard effective the first quarter of fiscal year 2019. The result of this adoption did not have a material impact on the Consolidated Financial Statements.

Recently issued accounting pronouncements not yet adopted

Recently issued accounting pronouncements not yet adopted: In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which requires the measurement of expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable forecasts. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of adoption of this ASU, but it is not expected to have a material effect on the Company's Consolidated Financial Statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment, which removes step two from the goodwill impairment test. Step two measures a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. The new guidance requires an entity to perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently assessing the impact the adoption of this ASU will have on its methodology for evaluating goodwill for impairment subsequent to adoption of this standard.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement: Changes to the Disclosure Requirements for Fair Value Measurement, which changes the disclosure requirements for fair value measurements by removing, adding and modifying certain disclosures. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of adoption of this ASU on its related disclosures.

In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General: Changes to the Disclosure Requirements for Defined Benefit Plans, which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing and adding certain disclosures for these plans. The standard is effective for Anixter's financial statements issued for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact of adoption of this ASU on its related disclosures.

In December 2019, the FASB issued ASU 2019-12, Income Taxes - Simplifying the Accounting for Income Taxes, which clarifies existing guidance and removes certain exceptions to the general principles for income taxes. The standard is effective for Anixter's financial statements issued for fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact of adoption of this ASU on its Consolidated Financial Statements.

The Company does not believe that any other recently issued, but not yet effective, accounting pronouncements, if adopted, would have a material impact on its Consolidated Financial Statements or disclosures.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 03, 2020

Schedule Of Finite And Indefinite Lived Intangible Assets By Major Class

As of January 3, 2020 and December 28, 2018, the Company's intangible asset balances are as follows:


		January 3, 2020						December 28, 2018
(In millions)	Average useful life (in years)	Gross carrying amount		Accumulated amortization		Gross carrying amount		Accumulated amortization
Customer relationships	6-20	$	503.6	$	(176.4)	$	500.1	$	(143.7)
Exclusive supplier agreement	21	22.3		(5.6)		22.1		(4.5)
Trade names	3-10	22.6		(13.5)		21.8		(12.6)
Trade names	Indefinite	4.9		—		4.9		—
Non-compete agreements	1-5	9.2		(7.9)		9.2		(6.5)
Intellectual property	8	2.5		(0.5)		2.3		(0.2)
Total		$	565.1	$	(203.9)	$	560.4	$	(167.5)

Summary of Components of Other Net Reflected in Consolidated Statements of Operations

Other, net: The following represents the components of "Other, net" as reflected in the Consolidated Statements of Income:


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Other, net:
Foreign exchange loss	$	(2.2)	$	(8.2)	$	(3.4)
Cash surrender value of life insurance policies	4.4		(1.3)		2.4
Net periodic pension benefit	2.4		5.1		0.2
Loss on extinguishment of debt	—		(4.6)		—
Other	(1.6)		(1.2)		0.2
Total other, net	$	3.0	$	(10.2)	$	(0.6)

ACCRUED EXPENSES (Tables)

12 Months Ended

Jan. 03, 2020

Accrued Liabilites, Current [Abstract]

Schedule of Accrued Liabilities [Table Text Block]

Accrued expenses consisted of the following:


	January 3, 2020		December 28, 2018
(In millions)
Salaries and fringe benefits	$	136.2	$	109.7
Other accrued expenses	194.1		199.3
Total accrued expenses	$	330.3	$	309.0

RESTRUCTURING CHARGES (Tables)

12 Months Ended

Jan. 03, 2020

Restructuring and Related Activities [Abstract]

Summary of Liabilities Associated with Restructuring and Employee Severance

The following table summarizes activity related to liabilities associated with restructuring activities:


	Restructuring Activity
	Q2 2018 Plan
	Employee-Related Costs (a)		Facility Exit and Other Costs (b)		Total
Balance at December 29, 2017	$	—	$	—	$	—
Charges	9.6		0.5		$	10.1
Payments and other	(2.9)		(0.3)		(3.2)
Balance at December 28, 2018	$	6.7	$	0.2	$	6.9
Payments and other	(4.9)		(0.1)		(5.0)
Balance at January 3, 2020	$	1.8	$	0.1	$	1.9

(a)Employee-related costs primarily consist of severance benefits provided to employees who have been involuntarily terminated.

(b)Facility exit and other costs primarily consist of lease termination costs.

LEASES (Tables)

12 Months Ended

Jan. 03, 2020

Leases [Abstract]

Lease cost

Lease costs are included within "Operating expenses" in the Company's Consolidated Statements of Income and were as follows:


	Year Ended
(In millions)	January 3, 2020
Lease cost
Operating lease cost	$	79.0
Variable lease cost	22.2
Short-term lease cost	1.2
Total lease cost	$	102.4

Lease term and discount rate

The weighted-average remaining lease term and weighted-average discount rate under operating leases were as follows:


	January 3, 2020
Lease term and discount rate
Weighted-average remaining lease term	6.5 years
Weighted-average discount rate ^(a)	5.9	%

(a)Upon adoption of ASU 2016-02, the discount rate used for existing leases was established as of December 29, 2018.

Lease maturity schedule

Maturities of operating lease liabilities at January 3, 2020 were as follows:


(In millions)
2020	$	75.4
2021	59.2
2022	54.4
2023	40.8
2024	32.0
2025 and thereafter	81.6
Total lease payments	$	343.4
Less imputed interest	61.4
Present value of lease liabilities	$	282.0

DEBT (Tables)

12 Months Ended

Jan. 03, 2020

Schedule of Components of Income Tax Expense (Benefit)

Debt

Debt is summarized below:


(In millions)	January 3, 2020		December 28, 2018
Long-term debt:
6.00% Senior notes due 2025	$	247.3	$	246.9
5.50% Senior notes due 2023	347.9		347.4
5.125% Senior notes due 2021	398.3		397.4
Revolving lines of credit	56.0		260.0
Finance lease obligations	6.0		0.9
Other	8.8		6.1
Unamortized deferred financing costs	(4.6)		(6.0)
Total long-term debt	$	1,059.7	$	1,252.7

INCOME TAXES (Tables)

12 Months Ended

Jan. 03, 2020

Income tax expense was comprised of:


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Current:
Foreign	$	21.7	$	24.2	$	21.7
State	10.3		9.4		8.3
Federal	39.9		34.2		99.4
	71.9		67.8		129.4
Deferred:
Foreign	(3.5)		(2.5)		0.2
State	0.5		0.2		2.0
Federal	(38.4)		1.4		(3.0)
	(41.4)		(0.9)		(0.8)
Income tax expense	$	30.5	$	66.9	$	128.6

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of income tax expense to the statutory corporate federal tax rate of 21% were as follows:


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Statutory tax expense	$	61.6	$	46.9	$	83.2
Increase (reduction) in taxes resulting from:
State income taxes, net	9.7		7.9		4.4
Foreign tax effects	3.5		11.9		2.0
Change in valuation allowance	(42.3)		(0.6)		(0.3)
Impact of tax legislation	—		(2.1)		35.6
Foreign derived intangible income deduction	(4.5)		—		—
Other, net	2.5		2.9		3.7
Income tax expense	$	30.5	$	66.9	$	128.6

Schedule of Deferred Tax Assets and Liabilities

Deferred Income Taxes: Significant components of the Company's deferred tax assets (liabilities) included in "Other assets" and "Other liabilities" on the Consolidated Balance Sheets were as follows:


(In millions)	January 3, 2020		December 28, 2018
Deferred compensation and other postretirement benefits	$	38.4	$	36.0
Foreign NOL carryforwards and other	26.1		28.1
Operating lease obligations	67.6		1.6
Accrued expenses and other	9.1		8.4
Inventory reserves	8.7		8.5
Unrealized foreign exchange	0.5		2.7
Allowance for doubtful accounts	6.5		7.9
Federal and state credits	54.5		50.6
Gross deferred tax assets	$	211.4	$	143.8
Property, equipment, intangibles and other	(74.8)		(90.1)
Operating lease assets	(66.5)		—
Gross deferred tax liabilities	$	(141.3)	$	(90.1)
Deferred tax assets, net of deferred tax liabilities	70.1		53.7
Valuation allowance	(38.3)		(79.1)
Net deferred tax assets (liabilities)	$	31.8	$	(25.4)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits for fiscal 2017, 2018 and 2019 is as follows:


(In millions)
Balance at December 30, 2016	$	5.0
Reductions for tax positions of prior years	(0.3)
Balance at December 29, 2017	$	4.7
Additions for tax positions of prior years	0.6
Reductions for tax positions of prior years	(0.6)
Balance at December 28, 2018	$	4.7
Additions for tax positions of prior years	0.1
Reductions for tax positions of prior years	(2.6)
Balance at January 3, 2020	$	2.2

PENSION PLANS (Tables)

12 Months Ended

Jan. 03, 2020

Weighted Average Percentage Of Actual And Target Asset Allocation Table

The Domestic Plans’ and Foreign Plans’ asset mixes as of January 3, 2020 and December 28, 2018 and the asset allocation guidelines for such plans are summarized as follows.


	Domestic Plans
	January 3, 2020		Allocation Guidelines
					Min			Target			Max
Global equities	42.5	%	30	%		37	%		45	%
Debt securities:
Domestic treasuries	20.9		—			24			40
Corporate bonds	7.0		—			8			40
Other	14.4		9			14			19
Total debt securities	42.3		9			46			99
Property/real estate	15.2		9			16			23
Other	—		—			1			5
	100.0	%				100	%

Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

The following table sets forth the changes and the end of year components of "Accumulated other comprehensive loss" for the defined benefit plans:


(In millions)	January 3, 2020		December 28, 2018
Changes to Balance:
Beginning balance	$	126.7	$	112.2
Recognized prior service cost	3.8		4.0
Recognized net actuarial gain	(8.5)		(7.5)
Settlement	(0.4)		—
Prior service cost arising in current year	—		0.4
Net actuarial loss arising in current year	20.4		21.8
Foreign currency exchange rate changes	2.5		(4.2)
Ending balance	$	144.5	$	126.7

Accumulated Other Comprehensive Income (Loss) for Benefit Plans


Components of Balance:
Prior service credit	$	(9.0)	$	(12.8)
Net actuarial loss	153.5		139.5
	$	144.5	$	126.7

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

Amounts in "Accumulated other comprehensive loss" expected to be recognized as components of net period pension cost in 2020 are as follows:


(In millions)
Amortization of prior service credit	$	(3.4)
Amortization of actuarial loss	9.4
Total amortization expected	$	6.0

Reconciliation of Net Funded Status of Pension Plans

The following represents a reconciliation of the funded status of the Company's pension plans for fiscal years 2019 and 2018:


	Pension Benefits
	Domestic Plans									Foreign Plans									Total
(In millions)	2019			2018			2019			2018			2019			2018
Change in projected benefit obligation:
Beginning balance	$	261.5		$	275.8		$	242.6		$	257.6		$	504.1		$	533.4
Service cost	3.1			3.5			5.7			5.9			8.8			9.4
Interest cost	10.9			10.3			6.9			6.8			17.8			17.1
Actuarial loss (gain)	41.4			(19.9)			34.8			(4.0)			76.2			(23.9)
Benefits paid from plan assets	(18.5)			(7.4)			(7.9)			(8.1)			(26.4)			(15.5)
Benefits paid from Company assets	(1.2)			(0.8)			—			—			(1.2)			(0.8)
Plan amendment	—			—			—			0.5			—			0.5
Settlement	—			—			(1.5)			(0.5)			(1.5)			(0.5)
Plan participants contributions	—			—			0.1			0.1			0.1			0.1
Foreign currency exchange rate changes	—			—			8.7			(15.7)			8.7			(15.7)
Other	—			—			(0.1)			—			(0.1)			—
Ending balance	$	297.2		$	261.5		$	289.3		$	242.6		$	586.5		$	504.1
Change in plan assets at fair value:
Beginning balance	$	260.4		$	280.8		$	188.5		$	209.1		$	448.9		$	489.9
Actual return on plan assets	55.6			(13.0)			25.5			(6.9)			81.1			(19.9)
Company contributions to plan assets	—			—			6.3			7.4			6.3			7.4
Benefits paid from plan assets	(18.5)			(7.4)			(7.9)			(8.1)			(26.4)			(15.5)
Settlement	—			—			(1.5)			(0.5)			(1.5)			(0.5)
Plan participants contributions	—			—			0.1			0.1			0.1			0.1
Foreign currency exchange rate changes	—			—			7.1			(12.6)			7.1			(12.6)
Other	—			—			(0.1)			—			(0.1)			—
Ending balance	$	297.5		$	260.4		$	218.0		$	188.5		$	515.5		$	448.9
Reconciliation of funded status:
Projected benefit obligation	$	(297.2)		$	(261.5)		$	(289.3)		$	(242.6)		$	(586.5)		$	(504.1)
Plan assets at fair value	297.5			260.4			218.0			188.5			515.5			448.9
Funded status	$	0.3		$	(1.1)		$	(71.3)		$	(54.1)		$	(71.0)		$	(55.2)
Included in the 2019 and 2018 funded status is accrued benefit cost of approximately $17.5 million and $16.5 million, respectively, related to two non-qualified plans, which cannot be funded pursuant to tax regulations.
Noncurrent asset	$	17.8		$	15.4		$	0.2		$	0.2		$	18.0		$	15.6
Current liability	(1.1)			(1.2)			—			—			(1.1)			(1.2)
Noncurrent liability	(16.4)			(15.3)			(71.5)			(54.3)			(87.9)			(69.6)
Funded status	$	0.3		$	(1.1)		$	(71.3)		$	(54.1)		$	(71.0)		$	(55.2)
Weighted-average assumptions used for measurement of the projected benefit obligation:
Discount rate	3.33		%	4.28		%	2.15		%	2.84		%	2.75		%	3.59		%
Salary growth rate	3.75		%	3.75		%	3.28		%	3.26		%	3.51		%	3.51		%

Components of Net Periodic Benefit Costs

The following represents the funded components of net periodic pension cost (benefit) as reflected in the Company's Consolidated Statements of Income and the weighted-average assumptions used to measure net periodic pension cost for the years ended January 3, 2020, December 28, 2018 and December 29, 2017:


	Pension Benefits
	Domestic Plans										Foreign Plans								Total
(In millions)	2019		2018		2017		2019		2018		2017		2019		2018		2017
Recorded in operating expenses:
Service cost	$	3.1	$	3.5	$	4.7	$	5.7	$	5.9	$	5.9	$	8.8	$	9.4	$	10.6

Recorded in other, net:
Interest cost	10.9		10.3		11.1		6.9		6.8		6.9		17.8		17.1		18.0
Expected return on plan assets	(14.4)		(16.0)		(14.9)		(11.0)		(9.8)		(8.8)		(25.4)		(25.8)		(23.7)
Net amortization	1.6		0.6		2.5		3.2		2.9		3.0		4.8		3.5		5.5
Settlement charge	—		—		—		0.4		0.1		—		0.4		0.1		—
Total recorded in other, net	$	(1.9)	(5.1)		(1.3)		(0.5)		—		1.1		(2.4)		(5.1)		(0.2)

Total net periodic pension cost (benefit)	$	1.2	$	(1.6)	$	3.4	$	5.2	$	5.9	$	7.0	$	6.4	$	4.3	$	10.4

Weighted-Average Assumptions Used to Measure Net Periodic Benefit Cost


Weighted-average assumption used to measure net periodic pension (benefit) cost:
Discount rate	4.28	%	3.78	%	4.36	%	2.84	%	2.70	%	2.99	%	3.59	%	3.26	%	3.73	%
Expected return on plan assets	6.25	%	6.25	%	6.25	%	5.68	%	4.81	%	4.79	%	6.01	%	5.63	%	5.59	%
Salary growth rate	3.75	%	3.76	%	4.63	%	3.26	%	3.04	%	3.01	%	3.51	%	3.36	%	3.73	%

Assets Measured at Fair Value on a Recurring Basis

Disclosures concerning assets measured at fair value on a recurring basis at January 3, 2020 and December 28, 2018, which have been categorized under the fair value hierarchy for the Domestic and Foreign Plans by the Company are as follows:


	As of January 3, 2020
	Domestic Plans														Foreign Plans										Total
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset Categories:
Equity securities:
Domestic	$	—	$	—	$	—	$	—	$	—	$	0.8	$	—	$	0.8	$	—	$	0.8	$	—	$	0.8
International ^(a)	—		—		—		—		—		—		—		—		—		—		—		—
Global	—		126.3		—		126.3		39.8		45.9		—		85.7		39.8		172.2		—		212.0
Debt securities:
Domestic treasuries	—		62.2		—		62.2		—		0.8		—		0.8		—		63.0		—		63.0
Corporate bonds	—		20.7		—		20.7		—		17.8		—		17.8		—		38.5		—		38.5
Other	—		43.0		—		43.0		—		80.8		—		80.8		—		123.8		—		123.8
Property/real estate	—		—		45.3		45.3		—		13.7		—		13.7		—		13.7		45.3		59.0
Insurance products	—		—		—		—		—		18.1		—		18.1		—		18.1		—		18.1
Other	—		—		—		—		0.3		—		—		0.3		0.3		—		—		0.3
Total at January 3, 2020	$	—	$	252.2	$	45.3	$	297.5	$	40.1	$	177.9	$	—	$	218.0	$	40.1	$	430.1	$	45.3	$	515.5

(a)Investment in funds outside the country where the pension plan originates is considered International.


	As of December 28, 2018
	Domestic Plans														Foreign Plans										Total
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset Categories:
Equity securities:
Domestic	$	—	$	—	$	—	$	—	$	—	$	44.1	$	—	$	44.1	$	—	$	44.1	$	—	$	44.1
International ^(a)	—		—		—		—		—		68.2		—		68.2		—		68.2		—		68.2
Global	—		104.3		—		104.3		—		—		—		—		—		104.3		—		104.3
Debt securities:
Domestic treasuries	—		40.5		—		40.5		—		44.2		—		44.2		—		84.7		—		84.7
Corporate bonds	—		42.4		—		42.4		—		12.3		—		12.3		—		54.7		—		54.7
Other	—		38.0		—		38.0		—		—		—		—		—		38.0		—		38.0
Property/real estate	—		—		32.7		32.7		—		0.3		—		0.3		—		0.3		32.7		33.0
Insurance products	—		—		—		—		—		18.6		—		18.6		—		18.6		—		18.6
Other	2.5		—		—		2.5		0.8		—		—		0.8		3.3		—		—		3.3
Total at December 28, 2018	$	2.5	$	225.2	$	32.7	$	260.4	$	0.8	$	187.7	$	—	$	188.5	$	3.3	$	412.9	$	32.7	$	448.9

(a)Investment in funds outside the country where the pension plan originates is considered International.

Change in Level 3 Assets Measured at Fair Value on a Recurring Basis

Changes in Anixter's Level 3 plan assets, which are included in operations, for the years ended January 3, 2020 and December 28, 2018 included:


(In millions)	December 28, 2018 Balance		Actual return on plan assets		Purchases, sales and settlements		January 3, 2020 Balance
Asset Categories:
Property/real estate	$	32.7	$	3.1	$	9.5	$	45.3
Total Level 3 investments	$	32.7	$	3.1	$	9.5	$	45.3


(In millions)	December 29, 2017 Balance		Purchases, sales and settlements		December 28, 2018 Balance
Asset Categories:
Property/real estate	$	—	$	32.7	$	32.7
Total Level 3 investments	$	—	$	32.7	$	32.7

Estimated Future Benefit Payments

The Company estimated future benefits payments are as follows at the end of 2019:


	Estimated Future Benefit Payments
(In millions)	Domestic		Foreign		Total
2020	$	10.9	$	5.6	$	16.5
2021	11.6		5.6		17.2
2022	12.4		6.1		18.5
2023	13.2		6.6		19.8
2024	14.2		7.2		21.4
2025-2029	80.6		53.2		133.8
Total	$	142.9	$	84.3	$	227.2

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Jan. 03, 2020

Activity Under the Director and Employee Stock Unit Plans

The following table summarizes the activity under the director and employee stock unit plans:


(units in thousands)	Director Stock Units (a)	Weighted Average Grant Date Fair Value (b)		Employee Stock Units (c)	Weighted Average Grant Date Fair Value (b)
Outstanding balance at December 30, 2016	341.1	$	52.90	727.4	$	56.25
Granted	31.3	80.81		222.4	85.65
Converted	—	—		(155.4)	76.51
Canceled	—	—		(50.7)	59.25
Outstanding balance at December 29, 2017	372.4	55.25		743.7	60.61
Granted	34.5	70.92		237.9	74.98
Converted	(26.0)	60.95		(192.6)	64.15
Performance unit adjustments^(d)	—	—		(12.6)	89.00
Canceled	—	—		(52.0)	70.80
Outstanding balance at December 28, 2018	380.9	56.28		724.4	63.16
Granted	46.7	59.26		287.8	59.88
Converted	(43.4)	60.76		(259.9)	53.63
Performance unit adjustments^(d)	—	—		(44.2)	48.61
Canceled	—	—		(22.6)	67.34
Outstanding balance at January 3, 2020	384.2	$	56.13	685.5	$	66.20

(a)All director units are considered convertible although each individual has elected to defer conversion until a pre-arranged time.

(b)Director and employee stock units are granted at no cost to the participants.

(c)All employee stock units outstanding are not vested at year end and are expected to vest.

Activity Under the Employee Option Plans

The following table summarizes the activity under the employee option plans:


(options in thousands)	Employee Options	Weighted Average Exercise Price
Balance at December 30, 2016	488.2	$	48.68
Exercised	(88.7)	56.43
Balance at December 29, 2017	399.5	46.96
Exercised	(51.8)	29.64
Balance at December 28, 2018	347.7	49.54
Exercised	(147.0)	32.14
Balance at January 3, 2020	200.7	$	62.27
Options exercisable at year-end:
2017	399.5	$	46.96
2018	347.7	$	49.54
2019	200.7	$	62.27

Changes to the Unvested Shares

The following table summarizes the changes to the non-vested shares:


(shares in thousands)	Non-vested Performance Shares (a)	Weighted-average Grant Date Fair Value
Balance at December 28, 2018	147.9	$	47.73
Granted	58.1	62.00
Vested	(55.2)	17.40
Performance unit adjustments^(b)	(44.2)	48.61
Canceled	—	—
Balance at January 3, 2020	106.6	$	70.84

(a)All non-vested stock performance units are expected to vest.

(b)Adjustments based on final evaluations for non-vested performance stock units.

BUSINESS SEGMENTS (Tables)

12 Months Ended

Jan. 03, 2020

Segment Information

Segment information for 2019, 2018 and 2017 are as follows:


(In millions)
2019	NSS		EES		UPS		Corporate (a)		Total
Net sales	$	4,696.2	$	2,352.0	$	1,797.4	$	—	$	8,845.6
Operating income (loss)	325.5		139.5		83.5		(181.0)		367.5
Depreciation	9.4		7.3		3.7		16.8		37.2
Amortization of intangible assets	16.4		5.4		13.2		—		35.0
Total assets	2,224.8		1,085.2		943.6		555.2		4,808.9
Capital expenditures	3.1		1.7		14.6		20.6		40.0


2018	NSS		EES		UPS		Corporate (a)		Total
Net sales	$	4,347.0	$	2,342.7	$	1,710.5	$	—	$	8,400.2
Operating income (loss)	272.2		132.3		75.4		(170.2)		309.7
Depreciation	3.8		2.4		3.6		21.9		31.7
Amortization of intangible assets	17.0		7.0		13.3		—		37.3
Total assets	2,319.3		1,097.4		905.5		330.9		4,653.1
Capital expenditures	8.7		2.0		6.7		25.0		42.4


2017	NSS		EES		UPS		Corporate (a)		Total
Net sales	$	4,114.4	$	2,225.5	$	1,587.5	$	—	$	7,927.4
Operating income (loss)	262.6		114.3		73.1		(137.1)		312.9
Depreciation	3.1		2.4		3.9		18.8		28.2
Amortization of intangible assets	14.4		8.4		13.3		—		36.1
Total assets	1,947.1		1,068.3		871.4		365.4		4,252.2
Capital expenditures	3.7		1.9		1.7		33.8		41.1

(a)Corporate "Total assets" primarily consists of cash and cash equivalents, deferred tax assets, and corporate fixed assets. Total assets in 2019 include the impact of the Company's adoption of ASU 2016-02, Leases, which resulted in the recognition of right-of-use assets for all leases with terms of more than 12 months.

Schedule Of Segment Operating Income Results Table


	Year Ended January 3, 2020
(In millions)	NSS		EES		UPS		Corporate		Total
Amortization of intangible assets	$	(16.4)	$	(5.4)	$	(13.2)	$	—	$	(35.0)
Merger costs	—		—		—		(12.8)		(12.8)
Restructuring charge	—		(0.5)		0.1		0.4		—
Acquisition and integration costs	—		—		—		0.3		0.3
Total of items impacting operating expense and operating income	$	(16.4)	$	(5.9)	$	(13.1)	$	(12.1)	$	(47.5)


	Year Ended December 28, 2018
(In millions)	NSS		EES		UPS		Corporate		Total
Amortization of intangible assets	$	(17.0)	$	(7.0)	$	(13.3)	$	—	$	(37.3)
Restructuring charge	(2.1)		(1.3)		(0.7)		(5.3)		(9.4)
Acquisition and integration costs	(2.6)		—		—		(0.3)		(2.9)
CEO retirement agreement expense	—		—		—		(2.6)		(2.6)
U.K. facility relocation costs	(0.2)		(0.8)		—		—		(1.0)
Total of items impacting operating expense and operating income	$	(21.9)	$	(9.1)	$	(14.0)	$	(8.2)	$	(53.2)


	Year Ended December 29, 2017
(In millions)	NSS		EES		UPS		Corporate		Total
Amortization of intangible assets	$	(14.4)	$	(8.4)	$	(13.3)	$	—	$	(36.1)
Restructuring charge	—		0.5		(0.1)		(0.4)		—
Acquisition and integration costs	—		—		—		(2.3)		(2.3)
Impairment of intangible assets	(5.7)		—		—		—		(5.7)
Total of items impacting operating expense and operating income	$	(20.1)	$	(7.9)	$	(13.4)	$	(2.7)	$	(44.1)

Revenue from External Customers by Geographic Areas


	Years Ended
(In millions)	January 3, 2020						December 28, 2018						December 29, 2017
Sales	Net Sales		% of Total Net Sales		Net Sales		% of Total Net Sales		Net Sales		% of Total Net Sales
North America	$	7,152.6	80.9	%	$	6,842.1	81.5	%	$	6,544.0	82.5	%
EMEA	625.5		7.0	%	660.3		7.8	%	626.3		7.9	%
Emerging Markets	1,067.5		12.1	%	897.8		10.7	%	757.1		9.6	%
Net sales	$	8,845.6	100.0	%	$	8,400.2	100.0	%	$	7,927.4	100.0	%

Long-lived Assets by Geographic Areas


(In millions)	January 3, 2020		December 28, 2018
Total assets
North America	$	3,861.1	$	3,709.4
EMEA	299.2		302.2
Emerging Markets	648.6		641.5
Total assets	$	4,808.9	$	4,653.1


(In millions)	January 3, 2020		December 28, 2018
Net property and equipment
North America	$	156.2	$	144.2
EMEA	9.5		9.7
Emerging Markets	9.2		9.4
Net property and equipment	$	174.9	$	163.3

Changes in Goodwill

The following table presents the changes in goodwill allocated to the Company's reporting units from December 29, 2017 to January 3, 2020:


(In millions)	NSS		EES		UPS		Total
Balance as of December 29, 2017	$	408.8	$	181.7	$	187.6	$	778.1
Acquisition related ^(a)	73.2		—		—		73.2
Foreign currency translation and other	(9.3)		(0.8)		(9.2)		(19.3)
Balance as of December 28, 2018	$	472.7	$	180.9	$	178.4	$	832.0
Acquisition related ^(a)	0.2		—		—		0.2
Foreign currency translation and other	(9.3)		0.4		5.4		(3.5)
Balance as of January 3, 2020	$	463.6	$	181.3	$	183.8	$	828.7

(a) In the second quarter of 2018, the Company completed the acquisition of security businesses in Australia and New Zealand for $150.1 million, including a preliminary net working capital adjustment of $4.6 million. The transaction was financed primarily from borrowings under the revolving lines of credit. The purchase price was preliminarily allocated to $32.6 million of working capital and $60.6 million of intangible assets during the year ended 2018. Acquisition costs were $2.6 million. The year ended 2018 results include approximately $71.9 million of sales from the acquired entities. The purchase price allocation was finalized in 2019.

SUMMARIZED FINANCIAL INFORMATION OF ANIXTER INC. (Tables)

12 Months Ended

Jan. 03, 2020

CONDENSED CONSOLIDATED BALANCE SHEETS

The following summarizes the financial information for Anixter Inc.:

ANIXTER INC.

CONDENSED CONSOLIDATED BALANCE SHEETS


(In millions)	January 3, 2020		December 28, 2018
Assets:
Current assets	$	3,035.3	$	3,171.6
Property and equipment, net	179.5		169.1
Operating leases	265.1		—
Goodwill	828.7		832.0
Intangible assets, net	361.2		392.9
Other assets	132.9		92.9
	$	4,802.7	$	4,658.5
Liabilities and Stockholder's Equity:
Current liabilities	$	1,492.8	$	1,630.3
Long-term debt	1,065.9		1,260.7
Operating lease obligations	213.0		—
Other liabilities	172.6		199.6
Stockholder’s equity	1,858.4		1,567.9
	$	4,802.7	$	4,658.5

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

ANIXTER INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME


	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Net sales	$	8,845.6	$	8,400.2	$	7,927.4
Operating income	$	374.9	$	316.4	$	319.4
Income before income taxes	$	300.1	$	229.1	$	243.2
Net income	$	268.1	$	160.9	$	112.6
Comprehensive income	$	277.9	$	101.8	$	153.2

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Jan. 03, 2020

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Financial Data


(In millions, except per share amounts)
Year ended January 3, 2020	First Quarter^(a)		Second Quarter^(b)		Third Quarter^(c)		Fourth Quarter^(d)
Net sales	$	2,108.5	$	2,262.6	$	2,222.2	$	2,252.3
Cost of goods sold	1,689.6		1,812.6		1,775.8		1,791.8
Operating income	74.6		105.7		101.8		85.4
Income before income taxes	56.0		85.6		82.1		69.7
Net income	$	39.1	$	63.5	$	59.3	$	101.0
Income per share:
Basic	$	1.15	$	1.86	$	1.74	$	2.95
Diluted	$	1.14	$	1.86	$	1.73	$	2.93

(a)In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.

(b)In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.

(c)In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.

(d)In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.


(In millions, except per share amounts)
Year ended December 28, 2018	First Quarter^(a)		Second Quarter^(b)		Third Quarter^(c)		Fourth Quarter^(d)
Net sales	$	1,964.2	$	2,137.9	$	2,179.0	$	2,119.1
Cost of goods sold	1,579.4		1,718.8		1,754.9		1,689.1
Operating income	61.6		71.3		89.5		87.3
Income before income taxes	45.7		49.0		68.6		59.9
Net income	$	32.1	$	34.8	$	47.6	$	41.8
Income per share:
Basic	$	0.95	$	1.03	$	1.41	$	1.23
Diluted	$	0.94	$	1.02	$	1.40	$	1.22

(a)In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

(b)In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.

(c)In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

(d)In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs.

VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Tables)

12 Months Ended

Jan. 03, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

ANIXTER INTERNATIONAL INC.

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

Years ended January 3, 2020, December 28, 2018 and December 29, 2017


(In millions)	Balance at beginning of the period		Charged to income		Charged to other accounts		Deductions		Balance at end of the period
Description
Year ended January 3, 2020:
Allowance for doubtful accounts	$	39.9	$	10.1	$	(1.0)	$	(18.6)	$	30.4
Allowance for deferred tax asset	$	79.1	$	0.9	$	—	$	(41.7)	$	38.3
Year ended December 28, 2018:
Allowance for doubtful accounts	$	43.8	$	8.5	$	(9.0)	$	(3.4)	$	39.9
Allowance for deferred tax asset	$	79.9	$	(0.6)	$	(0.2)	$	—	$	79.1
Year ended December 29, 2017:
Allowance for doubtful accounts	$	43.6	$	10.0	$	(1.3)	$	(8.5)	$	43.8
Allowance for deferred tax asset	$	20.7	$	60.7	$	(1.5)	$	—	$	79.9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail)
shares in Millions, $ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2020

USD ($)

Sep. 27, 2019

USD ($)

^[2]

Jun. 28, 2019

USD ($)

^[3]

Mar. 29, 2019

USD ($)

^[4]

Dec. 28, 2018

USD ($)

Sep. 28, 2018

USD ($)

^[6]

Jun. 29, 2018

USD ($)

^[7]

Mar. 30, 2018

USD ($)

^[8]

Jan. 03, 2020

USD ($)

shares

Dec. 28, 2018

USD ($)

shares

Dec. 29, 2017

USD ($)

shares

Dec. 29, 2018

USD ($)

Summary Of Significant Accounting Policies [Line Items]

Fiscal year term

53 weeks

52 weeks

Cash and cash equivalent maturity period maximum

3 months

Allowance for doubtful accounts

$ 30.4

$ 39.9

$ 30.4

$ 39.9

Provision for doubtful accounts

10.1

8.5

$ 10.0

Inventories

1,354.7

1,440.4

1,354.7

1,440.4

Inventory valuation reserves

50.0

51.5

50.0

51.5

174.9

163.3

174.9

163.3

Capitalized costs for computer software, net

37.2

31.7

28.2

$ 60.8

64.7

60.8

64.7

Capitalized costs for computer software, amortization

7.2

6.6

5.5

Interest costs capitalized

0.9

0.1

0.3

Average amortization of intangible assets

0.0

5.7

$ 33.6

Years of average amortization of intangible assets

5 years

Rate of foreign currency denominated accounts not hedged

100.00%

Number of products

600,000

Reserve for returns and credits provided to customers

$ 36.7

35.0

Deferred revenue, current

$ 11.6

17.2

11.6

17.2

Recognition of deferred revenue

14.9

Advertising and promotion costs

15.6

15.8

10.6

Shipping and handling costs

1,791.8

^[1]

$ 1,775.8

$ 1,812.6

$ 1,689.6

1,689.1

^[5]

$ 1,754.9

$ 1,718.8

$ 1,579.4

$ 7,069.8

$ 6,742.2

$ 6,356.4

Percentage threshold for tax benefit recognized

50.00%

Stock options and units | shares

0.2

0.3

0.4

Operating leases

273.3

0.0

$ 273.3

$ 0.0

$ 244.1

Operating Lease, Liability

282.0

$ 249.6

Reclassification of tax effects

7.7

Finance Lease, Right-of-Use Asset

8.4

Gross [Member]

Summary Of Significant Accounting Policies [Line Items]

Notional amount of foreign currency forward contracts

130.2

96.3

130.2

96.3

Net [Member]

Summary Of Significant Accounting Policies [Line Items]

Notional amount of foreign currency forward contracts

95.4

75.7

95.4

75.7

Equipment And Computer Software [Member]

Summary Of Significant Accounting Policies [Line Items]

Building and Building Improvements [Member]

126.0

125.8

126.0

125.8

Summary Of Significant Accounting Policies [Line Items]

Summary Of Significant Accounting Policies [Line Items]

39.5

36.5

39.5

36.5

Land [Member]

Summary Of Significant Accounting Policies [Line Items]

$ 1.0

1.0

Minimum [Member]

Number of days between performance obligation satisfaction and payment

30 days

Minimum [Member] | Equipment And Computer Software [Member]

Summary Of Significant Accounting Policies [Line Items]

Property, plant and equipment, useful life

2 years

Maximum [Member]

Summary Of Significant Accounting Policies [Line Items]

Number of days between performance obligation satisfaction and payment

60 days

Maximum [Member] | Equipment And Computer Software [Member]

Summary Of Significant Accounting Policies [Line Items]

Property, plant and equipment, useful life

20 years

Maximum [Member] | Building and Building Improvements [Member]

Summary Of Significant Accounting Policies [Line Items]

Property, plant and equipment, useful life

40 years

Shipping and Handling [Member]

Summary Of Significant Accounting Policies [Line Items]

Shipping and handling costs

$ 133.1

$ 139.7

$ 119.1

[1]	In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.
[2]	In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[3]	In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[4]	In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.
[5]	In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs. "Income before income taxes" includes a $4.6 million loss on extinguishment of debt.
[6]	In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.
[7]	In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.
[8]	In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Indefinite and Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Intangible Assets [Line Items]
Gross carrying amount	$ 565.1	$ 560.4
Accumulated amortization	(203.9)	(167.5)
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross carrying amount	503.6	500.1
Accumulated amortization	(176.4)	(143.7)
Exclusive Supplier Agreement [Member]
Intangible Assets [Line Items]
Gross carrying amount	22.3	22.1
Accumulated amortization	(5.6)	(4.5)
Trade Names [Member]
Intangible Assets [Line Items]
Gross carrying amount, finite trade names	22.6	21.8
Accumulated amortization	(13.5)	(12.6)
Non-compete Agreements [Member]
Intangible Assets [Line Items]
Gross carrying amount	9.2	9.2
Accumulated amortization	(7.9)	(6.5)
Intellectual Property [Member]
Intangible Assets [Line Items]
Gross carrying amount	2.5	2.3
Accumulated amortization	(0.5)	(0.2)
Indefinite-Lived Trade Names [Member]
Intangible Assets [Line Items]
Gross carrying amount	$ 4.9	$ 4.9
Minimum [Member] \| Customer Relationships [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years
Minimum [Member] \| Trade Names [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Minimum [Member] \| Non-compete Agreements [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Maximum [Member] \| Customer Relationships [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Maximum [Member] \| Exclusive Supplier Agreement [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	21 years
Maximum [Member] \| Trade Names [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Maximum [Member] \| Non-compete Agreements [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Maximum [Member] \| Intellectual Property [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	8 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Components of Other Net Reflected in Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Other, net:
Foreign exchange loss	$ (2.2)	$ (8.2)	$ (3.4)
Cash surrender value of life insurance policies	4.4	(1.3)	2.4
Net periodic pension benefit	2.4	5.1	0.2
Loss on extinguishment of debt	0.0	(4.6)	0.0
Other	(1.6)	(1.2)	0.2
Total other, net	$ 3.0	$ (10.2)	$ (0.6)

ACCRUED EXPENSES - (Details) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 28, 2018
Accrued Expenses [Line Items]
Salaries and fringe benefits	$ 136.2	$ 109.7
Other accrued expenses	194.1	199.3
Total accrued expenses	$ 330.3	$ 309.0

RESTRUCTURING CHARGES - Summary of Liabilities Associated with Restructuring and Employee Severance (Details) - USD ($)
$ in Millions

12 Months Ended

Jan. 03, 2020

Dec. 28, 2018

$ 6.9

$ 0.0

10.1

Payments and other

(5.0)

(3.2)

Q2 2018 Restructuring Plan [Member]

1.9

6.9

^[1]

1.9

Q2 2018 Restructuring Plan [Member] | Employee Related Costs [Member]

^[1]

1.9

^[1]

6.7

0.0

^[1]

9.6

Payments and other

^[1]

(4.9)

(2.9)

Q2 2018 Restructuring Plan [Member] | Facility Exit and Other Costs [Member]

^[1]

1.8

6.7

^[2]

0.2

0.0

^[2]

0.5

Payments and other

^[2]

(0.1)

(0.3)

^[2]

$ 0.1

$ 0.2

[1]	Employee-related costs primarily consist of severance benefits provided to employees who have been involuntarily terminated.
[2]	Facility exit and other costs primarily consist of lease termination costs.

RESTRUCTURING CHARGES - Additional Information (Details)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 28, 2018

USD ($)

Jun. 29, 2018

USD ($)

Dec. 28, 2018

USD ($)

Jan. 03, 2020

USD ($)

Dec. 29, 2017

USD ($)

Q2 2018 Restructuring Plan [Member]

$ 10.1

Restructuring Reserve

6.9

$ 1.9

$ 0.0

Number of Positions Eliminated

260

Restructuring Reserve

^[1]

1.9

Q2 2018 Restructuring Plan [Member] | Operating Expense [Member]

Q2 2018 Restructuring Plan [Member] | Network and Security Solutions [Member]

$ 10.1

Q2 2018 Restructuring Plan [Member] | Electrical and Electronic Solutions [Member]

$ 2.1

Q2 2018 Restructuring Plan [Member] | Utility Power Solutions [Member]

1.3

Q2 2018 Restructuring Plan [Member] | Corporate [Member]

1.1

Lease term and discount rate [Abstract]

$ 0.2

$ 5.4

[1]	Employee-related costs primarily consist of severance benefits provided to employees who have been involuntarily terminated.

LEASES - Lease Cost (Details) $ in Millions	12 Months Ended
LEASES - Lease Cost (Details) $ in Millions	Jan. 03, 2020 USD ($)
Lease, Cost [Abstract]
Operating lease cost	$ 79.0
Variable lease cost	22.2
Short-term lease cost	1.2
Total lease cost	$ 102.4

LEASES - Lease term and discount rate (Details)

Jan. 03, 2020

Weighted average remaining lease term

6 years 6 months

Weighted average discount rate

5.90%

^[1]

[1]	Upon adoption of ASU 2016-02, the discount rate used for existing leases was established as of December 29, 2018

LEASES - Lease Maturity Schedule (Details) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 29, 2018
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract]
Operating lease liability maturity - 2020	$ 75.4
Operating lease liability maturity - 2021	59.2
Operating lease liability maturity - 2022	54.4
Operating lease liability maturity - 2023	40.8
Operating lease liability maturity - 2024	32.0
Operating lease liability maturity - 2025 and thereafter	81.6
Total operating lease liability maturity	343.4
Less imputed interest	61.4
Operating Lease, Liability	$ 282.0	$ 249.6

LEASES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Leases [Abstract]
Operating leases expiration	various dates through 2038
Option to Extend Lessee's Operating Lease, Lease Payments	$ 17.4
Unrecorded Unconditional Purchase Obligation	$ 7.5
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract	11 years
Operating Leases, Rent Expense		$ 107.3	$ 100.9
Sublease Income	$ 1.1
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals	3.7
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	348.3
Operating Lease, Payments	$ 63.5

DEBT (Detail) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 28, 2018
Debt Instrument [Line Items]
Long-term debt	$ 1,059.7	$ 1,252.7
Finance lease obligations	6.0	0.9
Unamortized deferred financing costs	(4.6)	(6.0)
6.00% Senior notes due 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	247.3	246.9
5.50% Senior notes due 2023 [Domain]
Debt Instrument [Line Items]
Long-term debt	347.9	347.4
5.125% Senior notes due 2021 [Member]
Debt Instrument [Line Items]
Long-term debt	398.3	397.4
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	56.0	260.0
Other [Member]
Debt Instrument [Line Items]
Long-term debt	$ 8.8	$ 6.1

DEBT - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017	Oct. 05, 2015
Line Of Credit Facility Covenant Compliance [Line Items]
Aggregate annual maturities of debt before accretion of debt discount - 2020	$ 8.8
Aggregate annual maturities of debt before accretion of debt discount - 2021	398.3
Aggregate annual maturities of debt before accretion of debt discount - 2022	0.0
Aggregate annual maturities of debt before accretion of debt discount - 2023	403.9
Aggregate annual maturities of debt before accretion of debt discount - 2024	0.0
Aggregate annual maturities of debt before accretion of debt discount - after 2024	247.3
Average borrowings outstanding	$ 1,406.6	$ 1,433.8
Weighted average cost of borrowings	5.50%	5.30%
Cash paid for interest	$ 74.3	$ 73.9	$ 70.6
Revolving credit facility maximum borrowing capacity				$ 750.0
Short-term debt	8.8	6.1
Long-term debt	1,059.7	1,252.7
Long-term debt fair value	1,122.1	$ 1,261.7
Receivables facility [Member]
Line Of Credit Facility Covenant Compliance [Line Items]
Available, committed, unused borrowings	524.7
Revolving credit facility maximum borrowing capacity				600.0
Inventory asset based revolving credit facility [Member]
Line Of Credit Facility Covenant Compliance [Line Items]
Available, committed, unused borrowings	$ 134.3
Revolving credit facility maximum borrowing capacity				$ 150.0

DEBT - Revolving Lines of Credit and Canadian Term Loan (Details) $ in Millions, $ in Millions	12 Months Ended
	Jan. 03, 2020 USD ($)	Dec. 28, 2018 USD ($)	Dec. 29, 2017 USD ($)	Jan. 01, 2016 USD ($)	Oct. 05, 2015 CAD ($)	Oct. 05, 2015 USD ($)
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity						$ 750.0
Financing costs				$ 6.7
Deferred financing costs		$ 2.1		5.4
Debt related expenses				$ 1.3
Receivables facility [Member]
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity						600.0
Available, committed, unused borrowings	$ 524.7
Inventory asset based revolving credit facility [Member]
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity						150.0
Available, committed, unused borrowings	$ 134.3
Combined facilities [Member]
Debt Instrument [Line Items]
Undrawn commitment fee rate		0.25%
Minimum fixed charge coverage ratio	1.1
Canadian term loan [Member]
Debt Instrument [Line Items]
Face amount of debt instrument						$ 225.0
Long term debt term		5 years
Repayments of Canadian term loan			$ 100.2
Write off of deferred debt issuance costs			$ 0.2
Canada, Dollars \| Canadian term loan [Member]
Debt Instrument [Line Items]
Face amount of debt instrument					$ 300.0
Percent of eligible receivables [Member] \| Receivables facility [Member]
Debt Instrument [Line Items]
Limit on debt instruments available borrowings	85.00%
Percent of net orderly liquidation value of appraised eligible domestic inventory [Member] \| Inventory asset based revolving credit facility [Member]
Debt Instrument [Line Items]
Limit on debt instruments available borrowings	85.00%
Percent of book value of appraised eligible domestic inventory [Member] \| Inventory asset based revolving credit facility [Member]
Debt Instrument [Line Items]
Limit on debt instruments available borrowings	75.00%
Percent of net orderly liquidation value of eligible domestic inventory not appraised [Member] \| Inventory asset based revolving credit facility [Member]
Debt Instrument [Line Items]
Limit on debt instruments available borrowings	40.00%
Minimum range impacting basis spread [Member] \| Combined facilities [Member]
Debt Instrument [Line Items]
Available, committed, unused borrowings	$ 500.0
Maximum range impacting basis spread [Member] \| Combined facilities [Member]
Debt Instrument [Line Items]
Available, committed, unused borrowings	500.0
Minimum [Member] \| Combined facilities [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.25%
Minimum [Member] \| Impact on acquisitions and restricted payments [Member] \| Combined facilities [Member]
Debt Instrument [Line Items]
Available, committed, unused borrowings	131.3
Minimum [Member] \| Impact on acquisitions and restricted payments with maintenance of a minimum fixed charge coverage ratio [Member] \| Combined facilities [Member]
Debt Instrument [Line Items]
Available, committed, unused borrowings	$ 93.8
Maximum [Member] \| Combined facilities [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.50%

DEBT - Long Term Debt Senior Notes due 2025 (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Debt Instrument [Line Items]
Payments of deferred financing cost	$ 0.0	$ 2.9	$ 0.0
6.00% Senior notes due 2025 [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	$ 250.0
Discount percentage of par value	98.75%
Unamortized debt discount	$ 3.1
Payments of deferred financing cost	$ 0.8
Fixed interest rate percentage on long term debt	6.00%
Maturity date of debt instrument	Dec. 01, 2025
Redemption Price Rate On Principal Amount	100.00%
Redemption Price As Percentage Of Principal Amount In Case Of Change Of Control	101.00%

DEBT - Long Term Debt Senior Notes Due 2023 (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Debt Instrument [Line Items]
Payments of deferred financing cost	$ 0.0	$ 2.9	$ 0.0
Senior notes due 2023 [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	$ 350.0
Discount percentage of par value	98.75%
Unamortized debt discount	$ 4.4
Payments of deferred financing cost	$ 1.7
Fixed interest rate percentage on long term debt	5.50%
Maturity date of debt instrument	Mar. 01, 2023
Redemption Price Rate On Principal Amount	100.00%
Redemption Price As Percentage Of Principal Amount In Case Of Change Of Control	101.00%

DEBT - Long Term Debt Senior Notes Due 2021 (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Debt Instrument [Line Items]
Payments of deferred financing cost	$ 0.0	$ 2.9	$ 0.0
Senior notes due 2021 [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	$ 400.0
Discount percentage of par value	98.50%
Unamortized debt discount	$ 6.0
Proceeds from issuance of debt	393.1
Payments of deferred financing cost	$ 0.9
Fixed interest rate percentage on long term debt	5.125%
Maturity date of debt instrument	Oct. 01, 2021
Redemption Price Rate On Principal Amount	100.00%
Redemption Price As Percentage Of Principal Amount In Case Of Change Of Control	101.00%

DEBT - Retirement of Debt (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
DEBT - Retirement of Debt (Details) - USD ($) $ in Millions	Dec. 28, 2018	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 0.0	$ (4.6)	$ 0.0
Payments of deferred financing cost		$ 0.0	$ 2.9	$ 0.0
5.625% Senior notes due 2019
Debt Instrument [Line Items]
Fixed interest rate percentage on long term debt		5.625%
Face amount of debt instrument		$ 350.0
Discount percentage of par value		98.25%
Unamortized debt discount		$ 6.1
Proceeds from issuance of debt		342.9
Payments of deferred financing cost		$ 1.0
Maturity date of debt instrument		May 01, 2019
Payment of make whole premium [Member] \| 5.625% Senior notes due 2019
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 3.9
Write off of discounts and deferred debt issuance costs [Member] \| 5.625% Senior notes due 2019
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 0.7

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions	Jan. 03, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and guarantees	$ 56.1

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 28, 2018	Dec. 29, 2017	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017	Dec. 30, 2016
Schedule Of Income Taxes [Line Items]
Domestic income before income taxes			$ 244.2	$ 167.8	$ 178.1
Foreign income before income taxes			$ 49.2	55.4	59.5
Statutory corporate federal tax rate			21.00%
Reduced U.S. Corporate Tax Rate		21.00%
Adjustment to net deferred tax liabilities resulting from the newly enacted corporate tax rate	$ 0.7	$ (14.4)
Deemed repatriation impact from newly enacted tax act	47.2	50.0
Cash paid for taxes			$ 87.1	88.4	$ 76.4
Undistributed earnings of foreign subsidiaries			680.0
Foreign repatriation tax payment period					8 years
Interest and penalties accrued for unrecognized tax benefits			0.2	0.2	$ 0.2
Unrecognized tax benefits	$ 4.7	$ 4.7	2.2	4.7	4.7	$ 5.0
Unrecognized tax benefits that would impact effective tax rate within next twelve months			0.2
Reserves for uncertain tax positions including interest and penalties			3.0
Change in valuation allowance			(42.3)	$ (0.6)	$ (0.3)
Foreign Tax Authority [Member]
Schedule Of Income Taxes [Line Items]
Operating loss carryforwards			89.7
Tax credit carryforward			41.7
Undistributed foreign earnings deferred tax liabilities			37.6
Change in valuation allowance			41.7
Indefinite Period [Member] \| Foreign Tax Authority [Member]
Schedule Of Income Taxes [Line Items]
Operating loss carryforwards			$ 71.9

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Current:
Foreign	$ 21.7	$ 24.2	$ 21.7
State	10.3	9.4	8.3
Federal	39.9	34.2	99.4
Current income tax expense	71.9	67.8	129.4
Deferred:
Foreign	(3.5)	(2.5)	0.2
State	0.5	0.2	2.0
Federal	(38.4)	1.4	(3.0)
Deferred income taxes	(41.4)	(0.9)	(0.8)
Income tax expense	$ 30.5	$ 66.9	$ 128.6

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Income Tax Disclosure [Abstract]
Statutory tax expense	$ 61.6	$ 46.9	$ 83.2
Increase (reduction) in income taxes resulting from:
State income taxes, net	9.7	7.9	4.4
Foreign tax effects	3.5	11.9	2.0
Change in valuation allowance	(42.3)	(0.6)	(0.3)
Impact of tax legislation	0.0	(2.1)	35.6
Foreign derived intangible income deduction	(4.5)	0.0	0.0
Other, net	2.5	2.9	3.7
Income tax expense	$ 30.5	$ 66.9	$ 128.6

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 28, 2018
Income Tax Disclosure [Abstract]
Deferred compensation and other postretirement benefits	$ 38.4	$ 36.0
Foreign NOL carryforwards and other	26.1	28.1
Operating lease obligations	67.6	1.6
Accrued expenses and other	9.1	8.4
Inventory reserves	8.7	8.5
Unrealized foreign exchange	0.5	2.7
Allowance for doubtful accounts	6.5	7.9
Federal and state credits	54.5	50.6
Gross deferred tax assets	211.4	143.8
Property, equipment, intangibles and other	(74.8)	(90.1)
Operating lease assets	(66.5)	0.0
Gross deferred tax liabilities	(141.3)	(90.1)
Deferred tax assets, net of deferred tax liabilities	70.1	53.7
Valuation Allowance	(38.3)	(79.1)
Net deferred tax assets	$ 31.8
Net deferred tax liabilities		$ (25.4)

INCOME TAXES - Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Income Tax Disclosure [Abstract]
Beginning balance	$ 4.7	$ 4.7	$ 5.0
Additions for tax positions of prior years	0.1	0.6
Reductions for tax positions of prior years	(2.6)	(0.6)	(0.3)
Ending balance	$ 2.2	$ 4.7	$ 4.7

PENSION PLANS - Additional Information (Details) $ in Millions	3 Months Ended		12 Months Ended
	Jan. 03, 2020 USD ($)	Dec. 29, 2017 USD ($)	Jan. 03, 2020 USD ($) Plans	Dec. 28, 2018 USD ($) Plans	Dec. 29, 2017 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Consolidated weighted-average discount rate	2.75%		2.75%	3.59%
Projected benefit obligation	$ 586.5	$ 533.4	$ 586.5	$ 504.1	$ 533.4
Net unfunded status	(71.0)		$ (71.0)	$ (55.2)
Weighted-average expected long-term rate of return on plan assets			6.01%	5.63%	5.59%
Plan assets actual gain (loss) Percentage			16.80%	(4.20%)
Plan assets at fair value	515.5	489.9	$ 515.5	$ 448.9	$ 489.9
Company contributions to plan assets	10.9	11.3	6.3	7.4
Purchase of annuity			(1.5)	(0.5)
Accumulated other comprehensive loss before tax	144.5	112.2	$ 144.5	$ 126.7	112.2
Participants years of service required to receive credit equal to 2.5%			5 years
Period of service required to get fully vested in hypothetical personal retirement account balance			3 years
Mortality improvement projection assumption				80.00%
Change in assumption of mortality rate			$ 5.2	$ (2.8)
Number of plans with accumulated benefit obligations in excess of fair value of plan assets \| Plans			9	10
Aggregate accumulated benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets	261.8		$ 261.8	$ 220.3
Aggregate fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets	208.3		208.3	179.0
Expected future benefit payments in next twelve months	16.5		$ 16.5
Minimum period of service required to get enrolled In tax deferred plan			60 days
Percentage of match on defined contribution by participants			50.00%
Maximum annual contributions per employee eligible for match			5.00%
Defined contribution plan expense			$ 14.4	13.8	13.3
Treasury note rate term			10 years
Number of previous month of ten year treasury note rate used to calculate average rate for interest accrual			3 months
Interests accrual factor			1.4
Current deferred compensation liability	3.4		$ 3.4	3.4
Noncurrent deferred compensation liability	42.2		42.2	42.0
Cash surrender value of life insurance	41.4		41.4	$ 37.0
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments in next twelve months	$ 1.1		$ 1.1
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined contribution discretionary contribution percentage			2.00%
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined contribution discretionary contribution percentage			2.50%
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Consolidated weighted-average discount rate	3.33%		3.33%	4.28%
Projected benefit obligation	$ 297.2	275.8	$ 297.2	$ 261.5	$ 275.8
Net unfunded status	0.3		$ 0.3	$ (1.1)
Weighted-average expected long-term rate of return on plan assets			6.25%	6.25%	6.25%
Plan assets at fair value	297.5	280.8	$ 297.5	$ 260.4	$ 280.8
Company contributions to plan assets			0.0	0.0
Purchase of annuity		(11.3)	0.0	0.0
Accumulated benefit obligation	293.2		293.2	$ 258.2
Expected future benefit payments in next twelve months	$ 10.9		$ 10.9
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Consolidated weighted-average discount rate	2.15%		2.15%	2.84%
Projected benefit obligation	$ 289.3	257.6	$ 289.3	$ 242.6	$ 257.6
Net unfunded status	(71.3)		$ (71.3)	$ (54.1)
Weighted-average expected long-term rate of return on plan assets			5.68%	4.81%	4.79%
Plan assets at fair value	218.0	$ 209.1	$ 218.0	$ 188.5	$ 209.1
Company contributions to plan assets			6.3	7.4
Purchase of annuity			(1.5)	(0.5)
Accumulated benefit obligation	253.3		253.3	$ 212.6
Estimated future employer contributions in next fiscal year	6.6		6.6
Expected future benefit payments in next twelve months	$ 5.6		$ 5.6

PENSION PLANS - Weighted Average Percentage of Actual and Target Asset Allocation (Details)	Jan. 03, 2020	Dec. 28, 2018
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	100.00%	100.00%
Target plan asset allocations	100.00%	100.00%
UNITED STATES \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	42.50%	40.10%
Target plan asset allocations	37.00%	46.00%
UNITED STATES \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	20.90%	15.60%
Target plan asset allocations	24.00%	12.00%
UNITED STATES \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	7.00%	16.30%
Target plan asset allocations	8.00%	17.00%
UNITED STATES \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	14.40%	14.50%
Target plan asset allocations	14.00%	14.00%
UNITED STATES \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	42.30%	46.40%
Target plan asset allocations	46.00%	43.00%
UNITED STATES \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	15.20%	12.60%
Target plan asset allocations	16.00%	10.00%
UNITED STATES \| Other
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	0.00%	0.90%
Target plan asset allocations	1.00%	1.00%
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	100.00%	100.00%
Target plan asset allocations	100.00%	100.00%
Foreign Plan [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	39.30%
Target plan asset allocations	34.00%
Foreign Plan [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	0.40%
Target plan asset allocations	0.00%
Foreign Plan [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	8.10%
Target plan asset allocations	0.00%
Foreign Plan [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	37.10%
Target plan asset allocations	42.00%
Foreign Plan [Member] \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	45.60%	30.00%
Target plan asset allocations	42.00%	30.00%
Foreign Plan [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	6.30%
Target plan asset allocations	14.00%
Foreign Plan [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	0.10%	10.00%
Target plan asset allocations	0.00%	10.00%
Foreign Plan [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	0.40%
Target plan asset allocations	0.00%
Foreign Plan [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	0.00%
Target plan asset allocations	2.00%
Foreign Plan [Member] \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	39.70%	60.00%
Target plan asset allocations	36.00%	60.00%
Foreign Plan [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	8.30%
Target plan asset allocations	8.00%
Minimum [Member] \| UNITED STATES \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	30.00%	37.00%
Minimum [Member] \| UNITED STATES \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%	0.00%
Minimum [Member] \| UNITED STATES \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%	0.00%
Minimum [Member] \| UNITED STATES \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	9.00%	9.00%
Minimum [Member] \| UNITED STATES \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	9.00%	9.00%
Minimum [Member] \| UNITED STATES \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	9.00%	0.00%
Minimum [Member] \| UNITED STATES \| Other
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%	0.00%
Minimum [Member] \| Foreign Plan [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	14.00%
Minimum [Member] \| Foreign Plan [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Minimum [Member] \| Foreign Plan [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Minimum [Member] \| Foreign Plan [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	16.00%
Minimum [Member] \| Foreign Plan [Member] \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	16.00%
Minimum [Member] \| Foreign Plan [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Minimum [Member] \| Foreign Plan [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Minimum [Member] \| Foreign Plan [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Minimum [Member] \| Foreign Plan [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	2.00%
Minimum [Member] \| Foreign Plan [Member] \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	16.00%
Minimum [Member] \| Foreign Plan [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	8.00%
Maximum [Member] \| UNITED STATES \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	45.00%	66.00%
Maximum [Member] \| UNITED STATES \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	40.00%	34.00%
Maximum [Member] \| UNITED STATES \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	40.00%	34.00%
Maximum [Member] \| UNITED STATES \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	19.00%	19.00%
Maximum [Member] \| UNITED STATES \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	99.00%	87.00%
Maximum [Member] \| UNITED STATES \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	23.00%	19.00%
Maximum [Member] \| UNITED STATES \| Other
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	5.00%	5.00%
Maximum [Member] \| Foreign Plan [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	39.00%
Maximum [Member] \| Foreign Plan [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Maximum [Member] \| Foreign Plan [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Maximum [Member] \| Foreign Plan [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	73.00%
Maximum [Member] \| Foreign Plan [Member] \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	73.00%
Maximum [Member] \| Foreign Plan [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	22.00%
Maximum [Member] \| Foreign Plan [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	14.00%
Maximum [Member] \| Foreign Plan [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Maximum [Member] \| Foreign Plan [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	2.00%
Maximum [Member] \| Foreign Plan [Member] \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	41.00%
Maximum [Member] \| Foreign Plan [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	8.00%

PENSION PLANS - Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Defined Benefit Plan Disclosure [Line Items]
Beginning balance	$ 126.7	$ 112.2
Recognized prior service cost	3.8	4.0
Recognized net actuarial gain	(8.5)	(7.5)
Settlement	(0.4)	0.0
Prior service cost arising in current year	0.0	0.4
Net actuarial loss arising in current year	20.4	21.8
Foreign currency exchange rate changes	2.5	(4.2)
Ending balance	$ 144.5	$ 126.7

PENSION PLANS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Defined Benefit Plan Disclosure [Line Items]
Prior service credit	$ (9.0)	$ (12.8)
Net actuarial loss	153.5	139.5
Accumulated other comprehensive loss before tax	$ 144.5	$ 126.7	$ 112.2

PENSION PLANS - Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year (Details) $ in Millions	Jan. 03, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service credit	$ (3.4)
Amortization of actuarial loss	9.4
Total amortization expected	$ 6.0

PENSION PLANS - Reconcilation of Net Funded Status of Pension Plans (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 29, 2017	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017	Jan. 03, 2020	Dec. 28, 2018
Change in projected benefit obligation:
Beginning balance			$ 504,100,000	$ 533,400,000
Service cost			8,800,000	9,400,000
Interest cost			17,800,000	17,100,000
Actuarial loss (gain)			76,200,000	(23,900,000)
Benefits paid from plan assets			(26,400,000)	(15,500,000)
Benefits paid from company assets			(1,200,000)	(800,000)
Plan amendment			0	500,000
Settlement			(1,500,000)	(500,000)
Plan participants contributions			100,000	100,000
Foreign currency exchange rate changes			8,700,000	(15,700,000)
Other			100,000	0
Ending balance	$ 586,500,000	$ 533,400,000	586,500,000	504,100,000	$ 533,400,000
Change in plan assets at fair value:
Beginning balance			448,900,000	489,900,000
Actual return on plan assets			81,100,000	(19,900,000)
Company contributions to plan assets	10,900,000	11,300,000	6,300,000	7,400,000
Benefits paid from plan assets			(26,400,000)	(15,500,000)
Settlement			(1,500,000)	(500,000)
Plan participants contributions			100,000	100,000
Foreign currency exchange rate changes			7,100,000	(12,600,000)
Other			100,000	0
Ending balance	515,500,000	489,900,000	515,500,000	448,900,000	489,900,000
Reconciliation of funded status:
Projected benefit obligation	586,500,000	533,400,000	586,500,000	504,100,000	533,400,000	$ 586,500,000	$ 504,100,000
Plan assets at fair value	515,500,000	489,900,000	515,500,000	489,900,000	489,900,000	515,500,000	448,900,000
Funded status						(71,000,000.0)	(55,200,000)
Accrued benefit cost related to two non-qualified plans			17,500,000	16,500,000
Noncurrent asset						18,000,000.0	15,600,000
Current liability						(1,100,000)	(1,200,000)
Noncurrent liability						(87,900,000)	(69,600,000)
Funded status						$ (71,000,000.0)	$ (55,200,000)
Weighted average assumptions used for measurement of the projected benefit obligation
Discount rate						2.75%	3.59%
Salary growth rate						3.51%	3.51%
UNITED STATES
Change in projected benefit obligation:
Beginning balance			261,500,000	275,800,000
Service cost			3,100,000	3,500,000
Interest cost			10,900,000	10,300,000	11,100,000
Actuarial loss (gain)			41,400,000	(19,900,000)
Benefits paid from plan assets			(18,500,000)	(7,400,000)
Benefits paid from company assets			(1,200,000)	(800,000)
Plan amendment			0	0
Settlement			0	0
Plan participants contributions			0	0
Foreign currency exchange rate changes			0	0
Other			0	0
Ending balance	297,200,000	275,800,000	297,200,000	261,500,000	275,800,000
Change in plan assets at fair value:
Beginning balance			260,400,000	280,800,000
Actual return on plan assets			55,600,000	(13,000,000.0)
Company contributions to plan assets			0	0
Benefits paid from plan assets			(18,500,000)	(7,400,000)
Settlement		(11,300,000)	0	0
Plan participants contributions			0	0
Foreign currency exchange rate changes			0	0
Other			0	0
Ending balance	297,500,000	280,800,000	297,500,000	260,400,000	280,800,000
Reconciliation of funded status:
Projected benefit obligation	297,200,000	275,800,000	297,200,000	275,800,000	275,800,000	$ 297,200,000	$ 261,500,000
Plan assets at fair value	297,500,000	280,800,000	260,400,000	260,400,000	280,800,000	297,500,000	260,400,000
Funded status						300,000	(1,100,000)
Noncurrent asset						17,800,000	15,400,000
Current liability						(1,100,000)	(1,200,000)
Noncurrent liability						(16,400,000)	(15,300,000)
Funded status						$ 300,000	$ (1,100,000)
Weighted average assumptions used for measurement of the projected benefit obligation
Discount rate						3.33%	4.28%
Salary growth rate						3.75%	3.75%
Foreign Plan [Member]
Change in projected benefit obligation:
Beginning balance			242,600,000	257,600,000
Service cost			5,700,000	5,900,000
Interest cost			6,900,000	6,800,000	6,900,000
Actuarial loss (gain)			34,800,000	(4,000,000.0)
Benefits paid from plan assets			(7,900,000)	(8,100,000)
Benefits paid from company assets			0	0
Plan amendment			0	500,000
Settlement			(1,500,000)	(500,000)
Plan participants contributions			100,000	100,000
Foreign currency exchange rate changes			8,700,000	(15,700,000)
Other			100,000	0
Ending balance	289,300,000	257,600,000	289,300,000	242,600,000	257,600,000
Change in plan assets at fair value:
Beginning balance			188,500,000	209,100,000
Actual return on plan assets			25,500,000	(6,900,000)
Company contributions to plan assets			6,300,000	7,400,000
Benefits paid from plan assets			(7,900,000)	(8,100,000)
Settlement			(1,500,000)	(500,000)
Plan participants contributions			100,000	100,000
Foreign currency exchange rate changes			7,100,000	(12,600,000)
Other			100,000	0
Ending balance	218,000,000.0	209,100,000	218,000,000.0	188,500,000	209,100,000
Reconciliation of funded status:
Projected benefit obligation	289,300,000	257,600,000	289,300,000	257,600,000	257,600,000	$ 289,300,000	$ 242,600,000
Plan assets at fair value	$ 218,000,000.0	$ 209,100,000	$ 218,000,000.0	$ 209,100,000	$ 209,100,000	218,000,000.0	188,500,000
Funded status						(71,300,000)	(54,100,000)
Noncurrent asset						200,000	200,000
Current liability						0	0
Noncurrent liability						(71,500,000)	(54,300,000)
Funded status						$ (71,300,000)	$ (54,100,000)
Weighted average assumptions used for measurement of the projected benefit obligation
Discount rate						2.15%	2.84%
Salary growth rate						3.28%	3.26%

PENSION PLANS - Components of Net Periodic Cost (Detail) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Components of net periodic pension cost (benefit):
Interest cost	$ 17.8	$ 17.1
Total recorded in other, net	(2.4)	(5.1)	$ (0.2)
Net periodic pension cost (benefit)	6.4	4.3	10.5
Continuing Operations [Member]
Components of net periodic pension cost (benefit):
Service cost	8.8	9.4	10.6
Interest cost	17.8	17.1	18.0
Expected return on plan assets	(25.4)	(25.8)	(23.7)
Net amortization	4.8	3.5	5.5
Settlement charge	0.4	0.1	0.0
Net periodic pension cost (benefit)	6.4	4.3	10.4
UNITED STATES
Components of net periodic pension cost (benefit):
Service cost	3.1	3.5	4.7
Interest cost	10.9	10.3	11.1
Expected return on plan assets	(14.4)	(16.0)	(14.9)
Net amortization	1.6	0.6	2.5
Settlement charge	0.0	0.0	0.0
Total recorded in other, net	(1.9)	(5.1)	(1.3)
Net periodic pension cost (benefit)	1.2	(1.6)	3.4
Foreign Plan [Member]
Components of net periodic pension cost (benefit):
Service cost	5.7	5.9	5.9
Interest cost	6.9	6.8	6.9
Expected return on plan assets	(11.0)	(9.8)	(8.8)
Net amortization	3.2	2.9	3.0
Settlement charge	0.4	0.1	0.0
Total recorded in other, net	(0.5)	0.0	1.1
Net periodic pension cost (benefit)	$ 5.2	$ 5.9	$ 7.0

PENSION PLANS - Weighted-Average Assumptions Used to Measure Net Periodic Benefit Costs (Details)	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	3.59%	3.26%	3.73%
Expected return on plan assets	6.01%	5.63%	5.59%
Salary growth rate	3.51%	3.36%	3.73%
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	4.28%	3.78%	4.36%
Expected return on plan assets	6.25%	6.25%	6.25%
Salary growth rate	3.75%	3.76%	4.63%
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	2.84%	2.70%	2.99%
Expected return on plan assets	5.68%	4.81%	4.79%
Salary growth rate	3.26%	3.04%	3.01%

PENSION PLANS - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 515.5	$ 448.9	$ 489.9
Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.8	44.1
International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	68.2
Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	212.0	104.3
Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	63.0	84.7
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	38.5	54.7
Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	123.8	38.0
Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	59.0	33.0
Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	18.1	18.6
Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.3	3.3
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	297.5	260.4	280.8
UNITED STATES \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
UNITED STATES \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
UNITED STATES \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	126.3	104.3
UNITED STATES \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	62.2	40.5
UNITED STATES \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	20.7	42.4
UNITED STATES \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	43.0	38.0
UNITED STATES \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	45.3	32.7
UNITED STATES \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
UNITED STATES \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	2.5
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	218.0	188.5	209.1
Foreign Plan [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.8	44.1
Foreign Plan [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	68.2
Foreign Plan [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	85.7	0.0
Foreign Plan [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.8	44.2
Foreign Plan [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	17.8	12.3
Foreign Plan [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	80.8	0.0
Foreign Plan [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	13.7	0.3
Foreign Plan [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	18.1	18.6
Foreign Plan [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.3	0.8
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	40.1	3.3
Level 1 [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	39.8	0.0
Level 1 [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.3	3.3
Level 1 [Member] \| UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	2.5
Level 1 [Member] \| UNITED STATES \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| UNITED STATES \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| UNITED STATES \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| UNITED STATES \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| UNITED STATES \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| UNITED STATES \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| UNITED STATES \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| UNITED STATES \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| UNITED STATES \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	2.5
Level 1 [Member] \| Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	40.1	0.8
Level 1 [Member] \| Foreign Plan [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Foreign Plan [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Foreign Plan [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	39.8	0.0
Level 1 [Member] \| Foreign Plan [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Foreign Plan [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Foreign Plan [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Foreign Plan [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Foreign Plan [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 1 [Member] \| Foreign Plan [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.3	0.8
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	430.1	412.9
Level 2 [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.8	44.1
Level 2 [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	68.2
Level 2 [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	172.2	104.3
Level 2 [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	63.0	84.7
Level 2 [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	38.5	54.7
Level 2 [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	123.8	38.0
Level 2 [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	13.7	0.3
Level 2 [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	18.1	18.6
Level 2 [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 2 [Member] \| UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	252.2	225.2
Level 2 [Member] \| UNITED STATES \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 2 [Member] \| UNITED STATES \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 2 [Member] \| UNITED STATES \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	126.3	104.3
Level 2 [Member] \| UNITED STATES \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	62.2	40.5
Level 2 [Member] \| UNITED STATES \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	20.7	42.4
Level 2 [Member] \| UNITED STATES \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	43.0	38.0
Level 2 [Member] \| UNITED STATES \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 2 [Member] \| UNITED STATES \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 2 [Member] \| UNITED STATES \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 2 [Member] \| Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	177.9	187.7
Level 2 [Member] \| Foreign Plan [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.8	44.1
Level 2 [Member] \| Foreign Plan [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	68.2
Level 2 [Member] \| Foreign Plan [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	45.9	0.0
Level 2 [Member] \| Foreign Plan [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.8	44.2
Level 2 [Member] \| Foreign Plan [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	17.8	12.3
Level 2 [Member] \| Foreign Plan [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	80.8	0.0
Level 2 [Member] \| Foreign Plan [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	13.7	0.3
Level 2 [Member] \| Foreign Plan [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	18.1	18.6
Level 2 [Member] \| Foreign Plan [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	45.3	32.7	0.0
Level 3 [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	45.3	32.7	$ 0.0
Level 3 [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	45.3	32.7
Level 3 [Member] \| UNITED STATES \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| UNITED STATES \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| UNITED STATES \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| UNITED STATES \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| UNITED STATES \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| UNITED STATES \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| UNITED STATES \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	45.3	32.7
Level 3 [Member] \| UNITED STATES \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| UNITED STATES \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| International equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| Global equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| Domestic treasuries
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| Other debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| Insurance products
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0.0	0.0
Level 3 [Member] \| Foreign Plan [Member] \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 0.0	$ 0.0

PENSION PLANS - Change in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Defined Benefit Plan Disclosure [Line Items]
Beginning balance	$ 448.9	$ 489.9
Ending balance	515.5	448.9
Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Beginning balance	33.0
Ending balance	59.0	33.0
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Beginning balance	32.7	0.0
Actual return on plan assets	3.1
Purchases, sales and settlements	9.5	32.7
Ending balance	45.3	32.7
Level 3 [Member] \| Property/real estate
Defined Benefit Plan Disclosure [Line Items]
Beginning balance	32.7	0.0
Actual return on plan assets	3.1
Purchases, sales and settlements	9.5	32.7
Ending balance	$ 45.3	$ 32.7

PENSION PLANS - Estimated Future Benefit Payments (Details) $ in Millions	Jan. 03, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2020	$ 16.5
2021	17.2
2022	18.5
2023	19.8
2024	21.4
2025-2029	133.8
Total	227.2
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
2020	10.9
2021	11.6
2022	12.4
2023	13.2
2024	14.2
2025-2029	80.6
Total	142.9
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2020	5.6
2021	5.6
2022	6.1
2023	6.6
2024	7.2
2025-2029	53.2
Total	$ 84.3

STOCKHOLDERS' EQUITY - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017	Dec. 30, 2016	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred Stock, Shares Authorized	15,000,000.0	15,000,000.0
Preferred Stock, Par or Stated Value Per Share	$ 1.00	$ 1.00
Preferred Stock, Shares Outstanding	0	0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 1.00	$ 1.00
Common stock, shares outstanding	34,214,795	33,862,704
Number of shares approved under the Stock Incentive Plan					2,000,000.0
Number of shares available for grant	1,300,000
Stock-based compensation	$ 20.0	$ 18.9	$ 18.1
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Stock-based compensation	$ 17.2	15.7	15.5
Fair value of vested stock units	$ 16.7	14.8	14.4
Stock units outstanding weighted-average remaining term	1 year 10 months 24 days
Aggregate intrinsic value of stock units converted into stock	$ 17.8	16.1	13.2
Aggregate intrinsic value of stock units outstanding	103.1	59.5	84.8
Aggregate intrinsic value of convertible stock units	37.0	20.5	28.3
Unrecognized compensation cost related to non-vested shares and options	$ 13.6
Weighted-average recognition period for unrecognized compensation cost related to non-vested shares and options	1 year 4 months 24 days
Restricted Stock Units (RSUs) [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units (RSUs) [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	6 years
Director stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 2.8	2.4	2.5
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Stock-based compensation		0.8	0.1
Stock options expiration period	10 years
Fair value of vested stock options during the period				$ 0.5
Stock options outstanding weighted-average remaining term	2 years 10 months 24 days
Aggregate intrinsic value of stock options exercised during the period	$ 4.6	2.4	2.2
Aggregate intrinsic value of stock options outstanding	6.9	1.5	11.6
Aggregate intrinsic value of exercisable stock options	$ 6.9	$ 1.5	$ 11.6

STOCKHOLDERS' EQUITY - Activity Under the Director and Employee Stock Unit Plans (Details) - $ / shares

12 Months Ended

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

Director stock units [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]

Beginning balance

^[1]

380,900

372,400

341,100

Granted

^[1]

46,700

34,500

31,300

Converted

^[1]

(43,400)

(26,000.0)

0

Performance unit adjustments

0

Canceled

^[1]

0

Ending balance

^[1]

384,200

380,900

372,400

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]

Beginning balance, weighted average grant date value

^[2]

$ 56.28

$ 55.25

$ 52.90

Granted, weighted average grant date fair value

^[2]

59.26

70.92

80.81

Converted, weighted average grant date fair value

^[2]

60.76

60.95

0

Performance unit adjustments, weighted average grant date fair value

0

Canceled, weighted average grant date fair value

^[2]

0

Ending balance, weighted average grant date fair value

^[2]

$ 56.13

$ 56.28

$ 55.25

Restricted Stock Units (RSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]

Beginning balance

^[3]

724,400

743,700

727,400

Granted

^[3]

287,800

237,900

222,400

Converted

^[3]

(259,900)

(192,600)

(155,400)

Performance unit adjustments

^[3],[4]

(44,200)

(12,600)

Canceled

^[3]

(22,600)

(52,000.0)

(50,700)

Ending balance

^[3]

685,500

724,400

743,700

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]

Beginning balance, weighted average grant date value

^[2]

$ 63.16

$ 60.61

$ 56.25

Granted, weighted average grant date fair value

^[2]

59.88

74.98

85.65

Converted, weighted average grant date fair value

^[2]

53.63

64.15

76.51

Performance unit adjustments, weighted average grant date fair value

^[2],[4]

48.61

89.00

Canceled, weighted average grant date fair value

^[2]

67.34

70.80

59.25

Ending balance, weighted average grant date fair value

^[2]

$ 66.20

$ 63.16

$ 60.61

[1]	All director units are considered convertible although each individual has elected to defer conversion until a pre-arranged time.
[2]	Director and employee stock units are granted at no cost to the participants.
[3]	All employee stock units outstanding are not vested at year end and are expected to vest.
[4]	Adjustments based on final evaluations for non-vested performance stock units.

STOCKHOLDERS' EQUITY - Activity Under the Employee Option Plans (Details) - Share-based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance	347,700	399,500	488,200
Exercised	(147,000.0)	(51,800)	(88,700)
Ending balance	200,700	347,700	399,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning balance, weighted average exercise price	$ 49.54	$ 46.96	$ 48.68
Exercised, weighted average exercise price	32.14	29.64	56.43
Ending balance, weighted average exercise price	$ 62.27	$ 49.54	$ 46.96
Options exercisable at year end	200,700	347,700	399,500
Options exercisable at year end, weighted average exercise price	$ 62.27	$ 49.54	$ 46.96

STOCKHOLDERS' EQUITY - Changes to the Unvested Stock Options (Details) - Performance Restricted Stock Units [Member]

12 Months Ended

Jan. 03, 2020

$ / shares

shares

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]

Non-vested performance shares, beginning balance | shares

147,900

^[1]

Non-vested performance shares, granted | shares

58,100

^[1]

Non-vested performance shares, vested | shares

(55,200)

^[1]

Non-vested performance shares, performance unit adjustments | shares

(44,200)

^[1],[2]

Non-vested performance shares, canceled | shares

0

^[1]

Non-vested performance shares, ending balance | shares

106,600

^[1]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]

Beginning balance, weighted average grant date value | $ / shares

$ 47.73

Granted, weighted average grant date fair value | $ / shares

62.00

Vested, weighted average grant date fair value | $ / shares

17.40

Performance unit adjustments, weighted average grant date fair value | $ / shares

48.61

Canceled, weighted average grant date fair value | $ / shares

0

Ending balance, weighted average grant date fair value | $ / shares

$ 70.84

[1]	All non-vested stock performance units are expected to vest.
[2]	Adjustments based on final evaluations for non-vested performance stock units.

BUSINESS SEGMENTS - Additional Information (Details)	12 Months Ended
BUSINESS SEGMENTS - Additional Information (Details)	Jan. 03, 2020
Additional Information [Abstract]
Segment reporting disclosure of major customers	3

BUSINESS SEGMENTS - Segment Information (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2020

Sep. 27, 2019

^[2]

Jun. 28, 2019

^[3]

Mar. 29, 2019

^[4]

Dec. 28, 2018

Sep. 28, 2018

^[6]

Jun. 29, 2018

^[7]

Mar. 30, 2018

^[8]

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

$ 2,252.3

^[1]

$ 2,222.2

$ 2,262.6

$ 2,108.5

$ 2,119.1

^[5]

$ 2,179.0

$ 2,137.9

$ 1,964.2

$ 8,845.6

$ 8,400.2

$ 7,927.4

(85.4)

^[1]

$ (101.8)

$ (105.7)

$ (74.6)

(87.3)

^[5]

$ (89.5)

$ (71.3)

$ (61.6)

(367.5)

(309.7)

(312.9)

37.2

31.7

28.2

35.0

37.3

36.1

4,808.9

4,653.1

4,808.9

4,653.1

Network and Security Solutions [Member]

40.0

42.4

41.1

4,696.2

4,347.0

4,114.4

(325.5)

(272.2)

(262.6)

9.4

3.8

3.1

16.4

17.0

14.4

2,224.8

2,319.3

2,224.8

2,319.3

1,947.1

Electrical and Electronic Solutions [Member]

3.1

8.7

3.7

2,352.0

2,342.7

2,225.5

(139.5)

(132.3)

(114.3)

7.3

2.4

5.4

7.0

8.4

1,085.2

1,097.4

1,085.2

1,097.4

1,068.3

Utility Power Solutions [Member]

1.7

2.0

1.9

1,797.4

1,710.5

1,587.5

(83.5)

(75.4)

(73.1)

3.7

3.6

3.9

13.2

13.3

943.6

905.5

943.6

905.5

871.4

14.6

6.7

1.7

Corporate [Member]

^[9]

0.0

^[9]

181.0

170.2

137.1

^[9]

16.8

21.9

18.8

^[9]

0.0

^[9]

555.2

330.9

555.2

330.9

365.4

Continuing Operations [Member]

^[9]

20.6

25.0

33.8

8,845.6

8,400.2

7,927.4

(367.5)

(309.7)

(312.9)

37.2

31.7

28.2

35.0

37.3

36.1

$ 4,808.9

$ 4,653.1

4,808.9

4,653.1

4,252.2

$ 40.0

$ 42.4

$ 41.1

[1]	In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.
[2]	In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[3]	In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[4]	In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.
[5]	In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs. "Income before income taxes" includes a $4.6 million loss on extinguishment of debt.
[6]	In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.
[7]	In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.
[8]	In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.
[9]	Corporate "Total assets" primarily consists of cash and cash equivalents, deferred tax assets, and corporate fixed assets. Total assets in 2019 include the impact of the Company's adoption of ASU 2016-02, Leases, which resulted in the recognition of right-of-use assets for all leases with terms of more than 12 months.

BUSINESS SEGMENTS - Segment Operating Income Results (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2020

Sep. 27, 2019

Jun. 28, 2019

Mar. 29, 2019

Dec. 28, 2018

Sep. 28, 2018

Jun. 29, 2018

Mar. 30, 2018

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

$ (35.0)

$ (37.3)

$ (36.1)

(2.6)

(10.1)

(20.0)

(18.9)

(18.1)

Network and Security Solutions [Member]

0.0

(5.7)

Electrical and Electronic Solutions [Member]

(16.4)

(17.0)

(14.4)

Utility Power Solutions [Member]

(5.4)

(7.0)

(8.4)

(13.2)

(13.3)

Corporate [Member]

Operating Income (Loss) [Member]

^[1]

0.0

$ (8.6)

$ (8.8)

$ (8.7)

$ (9.6)

$ (9.7)

$ (9.3)

(35.0)

(37.3)

(36.1)

(12.8)

(0.2)

(9.2)

0.0

(9.4)

0.0

$ 0.3

0.3

2.3

0.3

(0.3)

2.9

2.3

(2.6)

$ (0.2)

$ (0.4)

$ (0.2)

(1.0)

Items impacting operating expense and operating income

(5.7)

(47.5)

(53.2)

(44.1)

Operating Income (Loss) [Member] | Network and Security Solutions [Member]

(16.4)

(17.0)

(14.4)

0.0

0.0

(2.1)

0.0

0.0

2.6

0.0

0.0

(0.2)

Items impacting operating expense and operating income

(5.7)

(16.4)

(21.9)

(20.1)

Operating Income (Loss) [Member] | Electrical and Electronic Solutions [Member]

(5.4)

(7.0)

(8.4)

0.0

(0.5)

(1.3)

0.5

0.0

0.0

(0.8)

Items impacting operating expense and operating income

0.0

(5.9)

(9.1)

(7.9)

Operating Income (Loss) [Member] | Utility Power Solutions [Member]

(13.2)

(13.3)

0.0

0.1

(0.7)

(0.1)

0.0

0.0

0.0

Items impacting operating expense and operating income

0.0

(13.1)

(14.0)

(13.4)

Operating Income (Loss) [Member] | Corporate [Member]

0.0

(12.8)

0.4

(5.3)

(0.4)

(0.3)

0.3

2.3

(2.6)

0.0

Items impacting operating expense and operating income

0.0

$ (12.1)

$ (8.2)

$ (2.7)

[1]

Corporate "Total assets" primarily consists of cash and cash equivalents, deferred tax assets, and corporate fixed assets. Total assets in 2019 include the impact of the Company's adoption of ASU 2016-02, Leases, which resulted in the recognition of right-of-use assets for all leases with terms of more than 12 months.

BUSINESS SEGMENTS - Revenue From External Customers by Geographic Areas (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2020

^[1]

Sep. 27, 2019

^[2]

Jun. 28, 2019

^[3]

Mar. 29, 2019

^[4]

Dec. 28, 2018

^[5]

Sep. 28, 2018

^[6]

Jun. 29, 2018

^[7]

Mar. 30, 2018

^[8]

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

Revenues from External Customers and Long-Lived Assets [Line Items]

$ 2,252.3

$ 2,222.2

$ 2,262.6

$ 2,108.5

$ 2,119.1

$ 2,179.0

$ 2,137.9

$ 1,964.2

$ 8,845.6

$ 8,400.2

$ 7,927.4

Revenues from External Customers and Long-Lived Assets [Line Items]

100.00%

North America [Member]

$ 7,152.6

$ 6,842.1

$ 6,544.0

Revenues from External Customers and Long-Lived Assets [Line Items]

80.90%

81.50%

82.50%

EMEA [Member]

$ 625.5

$ 660.3

$ 626.3

Emerging Markets [Member]

7.00%

7.80%

7.90%

Revenues from External Customers and Long-Lived Assets [Line Items]

$ 1,067.5

$ 897.8

$ 757.1

Revenues from External Customers and Long-Lived Assets [Line Items]

12.10%

10.70%

9.60%

UNITED STATES

Revenues from External Customers and Long-Lived Assets [Line Items]

$ 6,294.6

$ 6,004.7

$ 5,771.5

CANADA

$ 858.0

$ 837.4

$ 772.5

[1]	In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.
[2]	In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[3]	In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[4]	In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.
[5]	In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs. "Income before income taxes" includes a $4.6 million loss on extinguishment of debt.
[6]	In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.
[7]	In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.
[8]	In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

BUSINESS SEGMENTS - Long-Lived Assets by Geographic Areas (Details) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	$ 4,808.9	$ 4,653.1
Net property and equipment	174.9	163.3
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	3,861.1	3,709.4
Net property and equipment	156.2	144.2
EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	299.2	302.2
Net property and equipment	9.5	9.7
Emerging Markets [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	648.6	641.5
Net property and equipment	9.2	9.4
Continuing Operations [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	4,808.9	$ 4,653.1	$ 4,252.2
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property and equipment	$ 147.9

BUSINESS SEGMENTS - Changes in Goodwill (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jun. 29, 2018

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

$ 832.0

$ 778.1

^[1]

0.2

73.2

(3.5)

(19.3)

Acquisitions of businesses, net of cash acquired

828.7

832.0

$ 778.1

$ (150.1)

0.0

(150.1)

0.0

Preliminary net working capital adjustment

4.6

Working capital acquired

32.6

Intangible assets acquired

$ 60.6

Acquisition costs

2.6

Sales from acquired entities

71.9

Network and Security Solutions [Member]

472.7

408.8

^[1]

0.2

73.2

(9.3)

Electrical and Electronic Solutions [Member]

463.6

472.7

408.8

180.9

181.7

^[1]

0.0

0.4

(0.8)

Utility Power Solutions [Member]

181.3

180.9

181.7

178.4

187.6

^[1]

0.0

5.4

(9.2)

Condensed Financial Statements, Captions [Line Items]

$ 183.8

$ 178.4

$ 187.6

[1]

In the second quarter of 2018, the Company completed the acquisition of security businesses in Australia and New Zealand for $150.1 million, including a preliminary net working capital adjustment of $4.6 million. The transaction was financed primarily from borrowings under the revolving lines of credit. The purchase price was preliminarily allocated to $32.6 million of working capital and $60.6 million of intangible assets during the year ended 2018. Acquisition costs were $2.6 million. The year ended 2018 results include approximately $71.9 million of sales from the acquired entities. The purchase price allocation was finalized in 2019.

SUMMARIZED FINANCIAL INFORMATION OF ANIXTER INC - Additional Information (Detail)	12 Months Ended
	Jan. 03, 2020
Disclosure Summarized Financial Information Of Anixter Inc Additional Information [Abstract]
Description of guarantees given by parent company	Anixter International Inc. guarantees, fully and unconditionally, substantially all of the debt of its subsidiaries, which include Anixter Inc., its 100% owned primary operating subsidiary. Anixter International Inc. has no independent assets or operations and all subsidiaries other than Anixter Inc. are minor.

SUMMARIZED FINANCIAL INFORMATION OF ANIXTER INC - CONDENSED CONSOLIDATED BALANCE SHEETS (Detail) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 29, 2018	Dec. 28, 2018	Dec. 29, 2017	Dec. 30, 2016
Assets:
Current assets	$ 3,037.9		$ 3,172.0
Property and equipment	174.9		163.3
Operating leases	273.3	$ 244.1	0.0
Goodwill	828.7		832.0	$ 778.1
Intangible assets, net	361.2		392.9
Other assets	132.9		92.9
Total assets	4,808.9		4,653.1
Liabilities and Stockholders' Equity:
Current liabilities	1,493.5		1,629.0
Operating lease obligations	219.1		0.0
Other liabilities	175.7		201.0
Stockholders' equity	1,860.9		1,570.4	$ 1,459.0	$ 1,292.2
Total liabilities and stockholders’ equity	4,808.9		4,653.1
Anixter Inc. [Member]
Assets:
Current assets	3,035.3		3,171.6
Property and equipment	179.5		169.1
Operating leases	265.1		0.0
Goodwill	828.7		832.0
Intangible assets, net	361.2		392.9
Other assets	132.9		92.9
Total assets	4,802.7		4,658.5
Liabilities and Stockholders' Equity:
Current liabilities	1,492.8		1,630.3
Long-term debt	1,065.9		1,260.7
Operating lease obligations	213.0		0.0
Other liabilities	172.6		199.6
Stockholders' equity	1,858.4		1,567.9
Total liabilities and stockholders’ equity	$ 4,802.7		$ 4,658.5

SUMMARIZED FINANCIAL INFORMATION OF ANIXTER INC - CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2020

^[1]

Sep. 27, 2019

^[2]

Jun. 28, 2019

^[3]

Mar. 29, 2019

^[4]

Dec. 28, 2018

^[5]

Sep. 28, 2018

^[6]

Jun. 29, 2018

^[7]

Mar. 30, 2018

^[8]

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

Income before income taxes

$ 2,252.3

$ 2,222.2

$ 2,262.6

$ 2,108.5

$ 2,119.1

$ 2,179.0

$ 2,137.9

$ 1,964.2

$ 8,845.6

$ 8,400.2

$ 7,927.4

Operating income

85.4

101.8

105.7

74.6

87.3

89.5

71.3

61.6

367.5

309.7

312.9

69.7

82.1

85.6

56.0

59.9

68.6

49.0

45.7

293.4

223.2

237.6

$ 101.0

$ 59.3

$ 63.5

$ 39.1

$ 41.8

$ 47.6

$ 34.8

$ 32.1

262.9

156.3

109.0

Condensed Financial Statements, Captions [Line Items]

272.7

97.2

149.6

Anixter Inc. [Member]

Income before income taxes

8,845.6

8,400.2

7,927.4

Operating income

374.9

316.4

319.4

300.1

229.1

243.2

268.1

160.9

112.6

$ 277.9

$ 101.8

$ 153.2

[1]	In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.
[2]	In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[3]	In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[4]	In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.
[5]	In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs. "Income before income taxes" includes a $4.6 million loss on extinguishment of debt.
[6]	In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.
[7]	In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.
[8]	In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

Quarterly Operating Results Unaudited [Line Items]

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) - Additional Information (Details) $ in Millions	3 Months Ended								12 Months Ended
	Jan. 03, 2020 USD ($)	Sep. 27, 2019 USD ($)	Jun. 28, 2019 USD ($)	Mar. 29, 2019 USD ($)	Dec. 28, 2018 USD ($)	Sep. 28, 2018 USD ($)	Jun. 29, 2018 USD ($)	Mar. 30, 2018 USD ($)	Jan. 03, 2020 USD ($)	Dec. 28, 2018 USD ($)	Dec. 29, 2017 USD ($)	Feb. 12, 2020 shareholder
Quarterly Operating Results Unaudited [Line Items]
Fiscal year term									53 weeks	52 weeks	52 weeks
Amortization of intangible assets									$ 35.0	$ 37.3	$ 36.1
Merger costs										2.6
Restructuring charge										10.1
CEO retirement agreement expense									20.0	18.9	18.1
Loss on extinguishment of debt									0.0	4.6	0.0
Subsequent Event [Member]
Quarterly Operating Results Unaudited [Line Items]
Number of stockholders \| shareholder												1,597
Operating Income (Loss) [Member]
Quarterly Operating Results Unaudited [Line Items]
Amortization of intangible assets	$ 8.6	$ 8.8	$ 8.8	$ 8.8	$ 8.7	$ 9.6	$ 9.7	$ 9.3	35.0	37.3	36.1
Merger costs									12.8
Acquisition and integration costs				$ 0.3		0.3	2.3	0.3	(0.3)	2.9	2.3
Restructuring charge						0.2	9.2		0.0	9.4	$ 0.0
CEO retirement agreement expense										2.6
U.K. facility relocation costs					0.2	$ 0.2	0.4	$ 0.2		$ 1.0
Reversal of deferred income tax valuation allowances									45.9
Tax expense related to prior year tax positions									$ 0.8
Other Nonoperating Income (Expense) [Member]
Quarterly Operating Results Unaudited [Line Items]
Loss on extinguishment of debt					$ (4.6)
CEO Retirement Agreement [Member] \| Operating Income (Loss) [Member]
Quarterly Operating Results Unaudited [Line Items]
CEO retirement agreement expense							$ 2.6

SELECTED QUARTERLY FINANCIAL DATA - Summary of Quarterly Financial Data (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2020

^[1]

Sep. 27, 2019

^[2]

Jun. 28, 2019

^[3]

Mar. 29, 2019

^[4]

Dec. 28, 2018

^[5]

Sep. 28, 2018

^[6]

Jun. 29, 2018

^[7]

Mar. 30, 2018

^[8]

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

Income before income taxes

$ 2,252.3

$ 2,222.2

$ 2,262.6

$ 2,108.5

$ 2,119.1

$ 2,179.0

$ 2,137.9

$ 1,964.2

$ 8,845.6

$ 8,400.2

$ 7,927.4

Cost of goods sold

1,791.8

1,775.8

1,812.6

1,689.6

1,689.1

1,754.9

1,718.8

1,579.4

7,069.8

6,742.2

6,356.4

Operating income

85.4

101.8

105.7

74.6

87.3

89.5

71.3

61.6

367.5

309.7

312.9

69.7

82.1

85.6

56.0

59.9

68.6

49.0

45.7

293.4

223.2

237.6

$ 101.0

$ 59.3

$ 63.5

$ 39.1

$ 41.8

$ 47.6

$ 34.8

$ 32.1

$ 262.9

$ 156.3

$ 109.0

Income per share:

Basic

$ 2.95

$ 1.74

$ 1.86

$ 1.15

$ 1.23

$ 1.41

$ 1.03

$ 0.95

$ 7.71

$ 4.62

$ 3.24

Diluted

$ 2.93

$ 1.73

$ 1.86

$ 1.14

$ 1.22

$ 1.40

$ 1.02

$ 0.94

$ 7.67

$ 4.58

$ 3.21

[1]	In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.
[2]	In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[3]	In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[4]	In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.
[5]	In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs. "Income before income taxes" includes a $4.6 million loss on extinguishment of debt.
[6]	In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.
[7]	In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.
[8]	In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

Condensed Financial Statements, Captions [Line Items]

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Subsequent Events (Details) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 03, 2020	Jan. 10, 2020
Subsequent Events [Abstract]
Business Acquisition, Share Price		$ 100
Subsequent Event [Line Items]
Transaction Value	$ 4,500.0
Business Acquisition, Share Price		100
Preferred Stock, Liquidation Preference Per Share		15.89
Cash [Member]
Subsequent Events [Abstract]
Business Acquisition, Share Price		70.00
Subsequent Event [Line Items]
Business Acquisition, Share Price		$ 70.00
Parent Company [Member]
Subsequent Events [Abstract]
Sale of Stock, Percentage of Ownership after Transaction	84.00%
Subsequent Event [Line Items]
Sale of Stock, Percentage of Ownership after Transaction	84.00%
Subsidiaries [Member]
Subsequent Events [Abstract]
Sale of Stock, Percentage of Ownership after Transaction	16.00%
Subsequent Event [Line Items]
Sale of Stock, Percentage of Ownership after Transaction	16.00%

Schedule 1 - STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2020

^[1]

Sep. 27, 2019

^[2]

Jun. 28, 2019

^[3]

Mar. 29, 2019

^[4]

Dec. 28, 2018

^[5]

Sep. 28, 2018

^[6]

Jun. 29, 2018

^[7]

Mar. 30, 2018

^[8]

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

Operating loss

$ 85.4

$ 101.8

$ 105.7

$ 74.6

$ 87.3

$ 89.5

$ 71.3

$ 61.6

$ 367.5

$ 309.7

$ 312.9

Other income:

30.5

66.9

128.6

$ 101.0

$ 59.3

$ 63.5

$ 39.1

$ 41.8

$ 47.6

$ 34.8

$ 32.1

262.9

156.3

109.0

Condensed Financial Statements, Captions [Line Items]

272.7

97.2

149.6

Parent Company [Member]

Operating loss

(6.1)

(5.4)

(5.2)

Other income:

Interest income, including intercompany

9.5

8.3

6.8

Income before income taxes and equity in earnings of subsidiaries

3.4

2.9

1.6

Income before equity in earnings of subsidiaries

0.7

0.6

2.7

2.2

1.0

Equity in earnings of subsidiaries

260.2

154.1

108.0

262.9

156.3

109.0

$ 272.7

$ 97.2

$ 149.6

[1]	In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.
[2]	In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[3]	In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.
[4]	In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.
[5]	In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs. "Income before income taxes" includes a $4.6 million loss on extinguishment of debt.
[6]	In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.
[7]	In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.
[8]	In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

Schedule 1 - BALANCE SHEETS (Details) - USD ($) $ in Millions	Jan. 03, 2020	Dec. 28, 2018	Dec. 29, 2017	Dec. 30, 2016
Current assets:
Other assets	$ 63.3	$ 50.6
Total current assets	3,037.9	3,172.0
Total assets	4,808.9	4,653.1
Liabilities:
Other non-current liabilities	175.7	201.0
Total liabilities	2,948.0	3,082.7
Stockholders’ equity:
Common stock	34.2	33.9
Capital surplus	310.2	292.7
Retained earnings	1,783.8	1,513.2
Accumulated other comprehensive loss	(267.3)	(269.4)
Total stockholders’ equity	1,860.9	1,570.4	$ 1,459.0	$ 1,292.2
Total liabilities and stockholders’ equity	4,808.9	4,653.1
Parent Company [Member]
Current assets:
Cash and cash equivalents	0.5	0.2	$ 0.2	$ 0.2
Other assets	0.2	0.1
Total current assets	0.7	0.3
Other assets (primarily investment in and advances to subsidiaries)	1,861.8	1,571.9
Total assets	1,862.5	1,572.2
Liabilities:
Accounts payable and accrued expenses, due currently	0.2	0.2
Other non-current liabilities	1.4	1.6
Total liabilities	1.6	1.8
Stockholders’ equity:
Common stock	34.2	33.9
Capital surplus	310.2	292.7
Retained earnings	1,783.8	1,513.2
Accumulated other comprehensive loss	(267.3)	(269.4)
Total stockholders’ equity	1,860.9	1,570.4
Total liabilities and stockholders’ equity	$ 1,862.5	$ 1,572.2

Schedule 1 - STATEMENTS OF CASH FLOWS (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2020

Sep. 27, 2019

^[2]

Jun. 28, 2019

^[3]

Mar. 29, 2019

Dec. 28, 2018

Sep. 28, 2018

^[6]

Jun. 29, 2018

^[7]

Mar. 30, 2018

Jan. 03, 2020

Dec. 28, 2018

Dec. 29, 2017

Operating activities:

Adjustments to reconcile net income to net cash used in operating activities:

$ 101.0

^[1]

$ 59.3

$ 63.5

$ 39.1

^[4]

$ 41.8

^[5]

$ 47.6

$ 34.8

$ 32.1

^[8]

$ 262.9

$ 156.3

$ 109.0

20.0

18.9

18.1

Net cash used in operating activities

30.5

66.9

128.6

227.9

137.7

183.8

Investing activities:

Other

(2.9)

(9.1)

0.0

Net cash used in investing activities

(37.1)

(183.4)

(41.1)

Financing activities:

Proceeds from stock options exercised

4.7

1.5

5.0

Other, net

(2.1)

0.0

(0.2)

Net cash provided by financing activities

(195.9)

1.6

(136.1)

Parent Company [Member]

Operating activities:

Adjustments to reconcile net income to net cash used in operating activities:

262.9

156.3

109.0

Equity in earnings of subsidiaries

(260.2)

(154.1)

(108.0)

Dividend from subsidiary

7.8

8.0

3.7

2.8

2.4

2.5