v3.25.2
COMMITMENTS AND GUARANTEES (Tables)
 6 Months Ended
Jun. 28, 2025
Commitments and Guarantees [Abstract]  
Schedule of Right-of-Use Assets and Lease Liabilities The following is a summary of the Company's right-of-use assets and lease liabilities:
(Millions of Dollars)June 28, 2025December 28, 2024
Right-of-use assets$448.0$473.4
Lease liabilities$466.1$491.8
Weighted-average incremental borrowing rate
4.7%4.7%
Weighted-average remaining term
6 years6 years
Schedule of Financial Guarantees The Company’s financial guarantees at June 28, 2025 are as follows:
(Millions of Dollars)TermMaximum
Potential
Payment		Carrying
Amount of
Liability
Guarantees on the residual values of leased assets
Three years to nine years
$45.4 $— 
Standby letters of credit
Up to twenty years
176.9 — 
Commercial customer financing arrangements
Up to ten years
99.9 15.4 
Total$322.2 $15.4 
Schedule of Changes in Carrying Amount of Product Warranties
The changes in the carrying amount of product warranties for the six months ended June 28, 2025 and June 29, 2024 are as follows: 
(Millions of Dollars)20252024
Balance beginning of period$140.1 $136.7 
Warranties and guarantees issued88.0 89.4 
Warranty payments and currency(70.6)(85.1)
Balance end of period$157.5 $141.0