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Leases (Tables)

9 Months Ended

Sep. 28, 2019

The following table presents the location of the ROU assets and lease liabilities in the Company’s Consolidated Balance Sheet as of September 28, 2019:



Leases	Consolidated Balance Sheet Location	September 28, 2019
Assets
Operating	Other assets	$	136
Financing	Property and equipment-net⁽¹⁾	353
Total leased assets		$	489
Liabilities
Current:
Operating	Accrued expenses and other current liabilities	$	37
Financing	Current portion of long-term debt	99
Noncurrent:
Operating	Other long-term liabilities	126
Financing	Long-term debt	276
Total lease liabilities		$	538


(1)	Financing lease assets are recorded net of accumulated amortization of $257 million as of September 28, 2019.

The following table presents the location of lease costs in the Company's Consolidated Statement of Comprehensive Income:



		13 Weeks Ended		39 Weeks Ended
Lease Cost	Statement of Comprehensive Income Location	September 28, 2019		September 28, 2019
Operating lease cost	Distribution, selling and administrative costs	$	7	$	21
Financing lease cost:
Amortization of leased assets	Distribution, selling and administrative costs	21		60
Interest on lease liabilities	Interest expense-net	3		9
Variable lease cost	Distribution, selling and administrative costs	2		5
Net lease cost		$	33	$	95

Schedule of Future Operating Lease Payments

Future lease payments under lease agreements as of September 28, 2019 were as follows:



Maturity of Lease Liabilities	Operating Leases			Financing Leases			Total
Remainder of 2019	$	11		$	34		$	45
2020	47			105			152
2021	39			83			122
2022	34			60			94
2023	29			57			86
2024	7			40			47
After 2024	25			26			51
Total lease payments	192			405			597
Less amount representing interest	(29		)	(30		)	(59		)
Present value of lease liabilities	$	163		$	375		$	538

Schedule of Future Finance Lease Payments

Future lease payments under lease agreements as of September 28, 2019 were as follows:



Maturity of Lease Liabilities	Operating Leases			Financing Leases			Total
Remainder of 2019	$	11		$	34		$	45
2020	47			105			152
2021	39			83			122
2022	34			60			94
2023	29			57			86
2024	7			40			47
After 2024	25			26			51
Total lease payments	192			405			597
Less amount representing interest	(29		)	(30		)	(59		)
Present value of lease liabilities	$	163		$	375		$	538

Schedule of Future Capital Lease Payments Prior to 842

Future minimum lease payments in effect as of December 29, 2018 under noncancelable lease arrangements, as determined prior to the adoption of Topic 842, were as follows:



Future Minimum Lease Payments⁽¹⁾	Operating Leases			Financing Leases			Total
2019	$	34		$	95		$	129
2020	34			84			118
2021	30			71			101
2022	27			54			81
2023	23			43			66
After 2023	7			38			45
Total lease payments	155			385			540
Less amount representing interest	(4		)	(33		)	(37		)
Present value of minimum lease payments	$	151		$	352		$	503


(1)	Information in this table has been conformed to the current year presentation under Topic 842.

Schedule of Future Operating Lease Payments Prior to 842

Future minimum lease payments in effect as of December 29, 2018 under noncancelable lease arrangements, as determined prior to the adoption of Topic 842, were as follows:



Future Minimum Lease Payments⁽¹⁾	Operating Leases			Financing Leases			Total
2019	$	34		$	95		$	129
2020	34			84			118
2021	30			71			101
2022	27			54			81
2023	23			43			66
After 2023	7			38			45
Total lease payments	155			385			540
Less amount representing interest	(4		)	(33		)	(37		)
Present value of minimum lease payments	$	151		$	352		$	503


(1)	Information in this table has been conformed to the current year presentation under Topic 842.

Schedule of other information related to lease agreements

Other information related to lease agreements for the 39 weeks ended September 28, 2019 was as follows:



	39 Weeks Ended
Cash Paid For Amounts Included In Measurement of Liabilities	September 28, 2019
Operating cash flows from operating leases	$	24
Operating cash flows from financing leases	9
Financing cash flows from financing leases	49



Lease Term and Discount Rate	September 28, 2019
Weighted-average remaining lease term (years):
Operating leases	5.80
Financing leases	5.30
Weighted-average discount rate:
Operating leases	4.6	%
Financing leases	3.5	%