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Leases (Tables)
12 Months Ended
Dec. 30, 2023
Leases [Abstract]  
Components of leases
The following table presents the location of the ROU assets and lease liabilities in the Company’s Consolidated Balance Sheets:
LeasesConsolidated Balance Sheet LocationDecember 30, 2023December 31, 2022
Assets
Operating
Other assets$290 $265 
Financing
Property and equipment-net(1)
450 395 
Total leased assets
$740 $660 
Liabilities
Current:
Operating
Accrued expenses and other current liabilities$43 $36 
Financing
Current portion of long-term debt95 92 
Noncurrent:
Operating
Other long-term liabilities265 246 
Financing
Long-term debt367 354 
Total lease liabilities
$770 $728 

(1)Financing lease assets are recorded net of accumulated amortization of $297 million and $263 million as of December 30, 2023 and December 31, 2022, respectively.
The following table presents the location of lease costs in fiscal years 2023, 2022 and 2021 in the Company’s Consolidated Statements of Comprehensive Income:
Lease CostStatements of Comprehensive Income Location202320222021
Operating lease costDistribution, selling and administrative costs$59 $69 $58 
Financing lease cost:
Amortization of leased assets
Distribution, selling and administrative costs86 70 73
Interest on lease liabilities
Interest expense-net22 11 10
Short-term lease costDistribution, selling and administrative costs
Variable lease costDistribution, selling and administrative costs12 10 11
Net lease cost$181 $162 $153 
Schedule of future finance lease payments
Future lease payments under lease agreements as of December 30, 2023 were as follows:
Maturity of Lease LiabilitiesOperating LeasesFinancing Lease
Obligation
Total
2024$62 $113 $175 
202563 104 167 
202657 94 151 
202750 81 131 
202839 56 95 
After 2028130 81 211 
Total lease payments401 529 930 
Less amount representing interest(93)(67)(160)
Present value of lease liabilities$308 $462 $770 
Schedule of future operating lease payments
Future lease payments under lease agreements as of December 30, 2023 were as follows:
Maturity of Lease LiabilitiesOperating LeasesFinancing Lease
Obligation
Total
2024$62 $113 $175 
202563 104 167 
202657 94 151 
202750 81 131 
202839 56 95 
After 2028130 81 211 
Total lease payments401 529 930 
Less amount representing interest(93)(67)(160)
Present value of lease liabilities$308 $462 $770 
Schedule of other information related to lease agreements
Other information related to lease agreements for fiscal years 2023, 2022 and 2021 was as follows:
Cash Paid For Amounts Included In Measurement of Liabilities202320222021
Operating cash flows from operating leases$62 $56 $55 
Operating cash flows from financing leases21 11 10 
Financing cash flows from financing leases111 73 87 
    
Lease Term and Discount RateDecember 30, 2023December 31, 2022January 1, 2022
Weighted-average remaining lease term (years):
Operating leases
7.578.328.30
Financing leases
7.036.365.74
Weighted-average discount rate:
Operating leases
6.5 %6.5 %6.1 %
Financing leases
4.2 %4.1 %3.2 %