Leases (Notes)

6 Months Ended

Jul. 03, 2021

Leases [Abstract]

Lessee, Operating Leases [Text Block]

LEASES

The Company’s leases consist primarily of corporate offices, retail stores, distribution centers, showrooms, vehicles and office equipment. The Company leases assets in the normal course of business to meet its current and future needs while providing flexibility to its operations. The Company enters into contracts with third parties to lease specifically identified assets. Most of the Company’s leases have contractually specified renewal periods. Most retail store leases have early termination clauses that the Company can elect if stipulated sales amounts are not achieved. The Company determines the lease term for each lease based on the terms of each contract and factors in renewal and early termination options if such options are reasonably certain to be exercised.

The following is a summary of the Company’s lease cost.

	Quarter Ended				Year-To-Date Ended
(In millions)	July 3, 2021		June 27, 2020		July 3, 2021		June 27, 2020
Operating lease cost	$	8.0	$	8.1	$	16.1	$	16.3
Variable lease cost	2.9		2.7		6.1		6.1
Short-term lease cost	0.2		0.2		0.5		0.5
Sublease income	(1.5)		(1.1)		(3.3)		(2.3)
Total lease cost	$	9.6	$	9.9	$	19.4	$	20.6

The following is a summary of the Company’s supplemental cash flow information related to leases.

	Quarter Ended				Year-To-Date Ended
(In millions)	July 3, 2021		June 27, 2020		July 3, 2021		June 27, 2020
Cash paid for operating lease liabilities	$	9.0	$	4.6	$	18.1	$	12.1
Operating lease assets obtained in exchange for lease liabilities	3.2		0.1		3.4		5.2

The Company did not enter into any real estate leases with commencement dates subsequent to July 3, 2021.