Leases (Tables)

3 Months Ended

Mar. 28, 2020

The components of lease expense in the first quarters of 2020 and 2019 were as follows:



	13 weeks ended
(In millions)	March 28, 2020		March 30, 2019
Operating lease cost ^{(a) (c)}	$	11.8	$	13.0
Finance lease cost
Amortization of right-of-use assets^(a)	0.2		0.2
Interest on lease liabilities^(b)	—		0.1
Total finance lease cost	$	0.2	$	0.3

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^(a)	Included in DS&A and cost of products sold.


^(b)	Included in interest expense.


^(c)	Includes immaterial amounts related to short-term rent expense and variable rent expense.

Supplemental cash flow information related to leases is as follows:



	13 weeks ended
(In millions)	March 28, 2020			March 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(11.7	)	$	(12.6	)
Operating cash flows from finance leases	—			(0.1		)
Financing cash flows from finance leases	(0.3		)	(0.3		)
Leased assets obtained in exchange for new operating lease liabilities	$	7.5		$	7.7

Supplemental balance sheet information related to leases is as follows:



(In millions, except lease term and discount rate)	March 28, 2020			December 28, 2019
Operating Leases
Operating lease right-of-use assets	$	80.4		$	84.1

Accrued liabilities	$	27.8		$	29.2
Operating lease liabilities	53.7			56.0
Total Operating lease liabilities	$	81.5		$	85.2

Finance Leases
Property, plant and equipment, at cost	$	17.5		$	17.9
Accumulated amortization	(10.3		)	(10.3		)
Property, plant and equipment, net	$	7.2		$	7.6

Current portion of finance lease obligations	$	1.3		$	1.3
Long-term finance lease obligations	2.0			2.3
Total Finance lease liabilities	$	3.3		$	3.6

Weighted Average Remaining Lease Term
Operating Leases	4.3 years			4.5 years
Finance Leases	2.4 years			2.8 years
Weighted Average Discount Rate^(a)
Operating Leases	4.9		%	5.2		%
Finance Leases	5.1		%	5.1		%

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^(a)Calculated using Company's incremental borrowing rate.

Maturities of lease liabilities as of March 28, 2020 and December 28, 2019 were as follows: