Leases

12 Months Ended

Dec. 29, 2019

The Company leases property, software, automobiles, trucks and trailers, pursuant to operating lease agreements. The Company also leases furniture, fixtures and equipment under finance leases. The leases have varying remaining lease terms with leases expiring through 2038, some of which include options to extend the leases.

The components of leases expense were as follows (in millions):



	Fiscal Year Ended December 29, 2019
Operating lease cost	$	118.3

Finance lease cost:
Amortization of right-of-use assets	$	12.4
Interest on lease liabilities	0.8
Total finance lease cost	$	13.2

Rent expense related to operating leases under previous accounting guidance was $122.4 million and $108.6 million for fiscal years ended December 30, 2018 and December 31, 2017, respectively.

Supplemental cash flow information related to leases was as follows (in millions):



	Fiscal Year Ended December 29, 2019
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows related to operating leases	$	119.3
Operating cash flows related to finance leases	$	1.0
Financing cash flows related to finance leases	$	13.7
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	204.7
Finance leases	$	11.6

Supplemental balance sheet information related to leases was as follows (in millions, except lease term and discount rate):



	December 29, 2019
Operating Leases
Operating lease right-of-use assets	$	811.1
Accumulated amortization	(75.2		)
Operating lease right-of-use assets, net	$	735.9
Other accrued expenses	$	68.6
Operating lease liabilities	709.5
Total operating lease liabilities	$	778.1
Finance Leases
Property and equipment, gross	$	127.4
Accumulated depreciation	(90.9		)
Property and equipment, net	$	36.5
Other accrued expenses	$	12.4
Other liabilities	12.6
Total finance lease liabilities	$	25.0
Weighted Average Remaining Lease Term (Years)
Operating leases	11.81
Finance leases	1.58
Weighted Average Discount Rate
Operating leases	5.7%
Finance leases	4.6%

Maturities of lease liabilities as of December 29, 2019 are as follows (in millions):



	Operating Leases		Finance Leases
2020	$	110.4	$	13.0
2021	103.7		7.8
2022	94.0		3.0
2023	85.6		1.3
2024	80.3		1.3
Thereafter	613.8		—
	$	1,087.8	$	26.4
Less: imputed interest	309.7		1.4
Total	$	778.1	$	25.0

Maturities of lease liabilities as of December 30, 2018 and accounted for under the accounting guidance effective at that date were as follows:



	Operating Leases		Finance Leases
2019	$	97.2	$	15.2
2020	87.1		9.7
2021	81.1		4.4
2022	73.6		—
2023	64.4		—
Thereafter	526.9		—
	$	930.3	$	29.3
Less: interest portion of capital leases			1.5
Total			$	27.8

Leases