Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

13. LEASES

The Company leases offices, facilities and equipment in locations throughout the United States, Asia Pacific and EMEA. The Company’s leases do not provide an implicit rate; thus, the Company uses an estimated incremental borrowing rate in determining the present value of lease payments. The components of lease expense were summarized as follows:

	Year Ended
(Dollars in millions)	December 31, 2021			December 25, 2020
Operating lease cost	$	18.9		$	13.1
Short-term lease cost		1.9		1.3
Sublease income		(0.1	)		(0.1	)
Total lease cost	$	20.7		$	14.3
Operating cash flows from operating leases	$	20.4		$	16.9
Weighted-average remaining lease term – operating leases		1.2			2.3
Weighted-average discount rate – operating leases		5.5	%		5.5	%

Future minimum payments under operating leases as of December 31, 2021 were summarized as follows:

(In millions)	Operating Leases
2022	$	19.7
2023		16.7
2024		13.6
2025		11.0
2026		9.8
Thereafter		25.5
Total minimum lease payments		96.3
Less: imputed interest		(13.1	)
Lease liability	$	83.2