Leases (Tables)

12 Months Ended

Dec. 27, 2019

Leases [Abstract]

Lease Assets and Liabilities

The following table presents the lease-related assets and liabilities recorded on the balance sheet as of December 27, 2019 (U.S. dollars in millions):

Classification on the Balance Sheet		December 27, 2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	162.1
Finance lease assets	Property, plant and equipment, net	1.3
Total lease assets		$	163.4
Liabilities
Current
Operating	Current maturities of operating leases	$	32.5
Finance	Current maturities of debt and finance leases	0.3
Noncurrent
Operating	Operating leases, less current maturities	102.7
Finance	Long-term debt and finance leases, less current maturities	0.2
Total lease liabilities		$	135.7
Weighted-average remaining lease term:
Operating leases		8.4 years
Finance leases		1.9 years
Weighted-average discount rate:
Operating leases(1)		8.31		%
Finance leases		4.44		%

⁽¹⁾Upon adoption of the new lease standard, discount rates used for existing leases were established at December 29, 2018.

Lease Costs

The following table presents supplemental cash flow information related to the leases for the year ended December 27, 2019 (U.S. dollars in millions):

	December 27, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	82.1
Financing cash flows for finance leases	$	0.5

The following table presents certain information related to the lease costs for finance and operating leases for the year ended December 27, 2019 (U.S. dollars in millions):

	December 27, 2019
Finance lease cost
Amortization of lease assets	$	0.1
Operating lease cost	$	92.5
Short-term lease cost	$	7.5
Variable lease cost	$	6.1
Total lease cost	$	106.2

Operating Lease Liability Maturity

The following table reconciles the undiscounted cash flows for each of the first five years and total remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet as of December 27, 2019 (U.S. dollars in millions):

	Operating Leases		Finance Leases
2020	$	42.1	$	0.3
2021	30.9		0.2
2022	21.9		—
2023	19.3		—
2024	16.0		—
Thereafter	74.3		—
Total lease payments	204.5		0.5
Less: imputed interest	69.3		—
Total lease liabilities	$	135.2	$	0.5

Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for each of the first five years and total remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet as of December 27, 2019 (U.S. dollars in millions):

	Operating Leases		Finance Leases
2020	$	42.1	$	0.3
2021	30.9		0.2
2022	21.9		—
2023	19.3		—
2024	16.0		—
Thereafter	74.3		—
Total lease payments	204.5		0.5
Less: imputed interest	69.3		—
Total lease liabilities	$	135.2	$	0.5