Leases (Tables)

6 Months Ended

Jun. 28, 2020

Leases [Abstract]

Components of lease expense

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

	Three Months Ended				Six Months Ended
	June 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
Operating lease cost	$	33.6	$	28.8	$	66.3	$	56.1
Finance lease cost:
Amortization of right-of-use assets	$	3.6	$	3.8	$	7.3	$	7.6
Interest on lease liabilities	0.3		0.2		0.5		0.5
Total finance lease cost	$	3.9	$	4.0	$	7.8	$	8.1

Supplemental cash flow and balance sheet information related to leases

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

	Six Months Ended
	June 28, 2020		June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows related to operating leases	$	63.8	$	54.7
Operating cash flows related to finance leases	$	0.5	$	0.5
Financing cash flows related to finance leases	$	7.5	$	8.3
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	116.7	$	49.0
Finance leases	$	8.3	$	—

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

	June 28, 2020			December 29, 2019
Operating Leases
Operating lease right-of-use assets	$	927.8		$	811.1
Accumulated amortization	(117.9)			(75.2)
Operating lease right-of-use assets, net	$	809.9		$	735.9
Other accrued expenses	$	76.0		$	68.6
Operating lease liabilities	778.3			709.5
Total operating lease liabilities	$	854.3		$	778.1
Finance Leases
Property and equipment, gross	$	134.8		$	127.4
Accumulated depreciation	(98.5)			(90.9)
Property and equipment, net	$	36.3		$	36.5
Other accrued expenses	$	11.6		$	12.4
Other liabilities	14.7			12.6
Total finance lease liabilities	$	26.3		$	25.0
Weighted Average Remaining Lease Term (Years)
Operating leases	11.55			11.81
Finance leases	2.87			1.58
Weighted Average Discount Rate
Operating leases	5.6		%	5.7		%
Finance leases	3.7		%	4.6		%

Maturities of lease liabilities, operating leases

Maturities of lease liabilities as of June 28, 2020 were as follows (in millions):

	Operating Leases		Finance Leases
2020 (excluding the six months ended June 28, 2020)	$	59.6	$	6.2
2021	120.5		10.3
2022	107.0		5.4
2023	98.3		3.1
2024	93.1		2.5
2025	89.4		0.3
Thereafter	612.7		—
	1,180.6		27.8
Less imputed interest	(326.3)		(1.5)
Total	$	854.3	$	26.3

Maturities of lease liabilities, finance leases

Maturities of lease liabilities as of June 28, 2020 were as follows (in millions):

	Operating Leases		Finance Leases
2020 (excluding the six months ended June 28, 2020)	$	59.6	$	6.2
2021	120.5		10.3
2022	107.0		5.4
2023	98.3		3.1
2024	93.1		2.5
2025	89.4		0.3
Thereafter	612.7		—
	1,180.6		27.8
Less imputed interest	(326.3)		(1.5)
Total	$	854.3	$	26.3