Leases

12 Months Ended

Dec. 30, 2023

We primarily lease certain manufacturing plants, offices, warehouses, training and service centers at various locations worldwide through operating leases. Our operating leases have remaining lease terms up to 25 years, which include options to extend the lease term for periods up to 20 years when it is reasonably certain the option will be exercised. Operating lease cost totaled $69 million, $69 million and $66 million in 2023, 2022 and 2021, respectively. Variable and short-term lease costs were not significant. In 2023, 2022 and 2021, cash paid for operating lease liabilities totaled $69 million, $68 million and $66 million, respectively, and is classified in cash flows from operating activities. Noncash transactions totaled $54 million, $58 million and $86 million in 2023, 2022 and 2021, reflecting the recognition of operating lease assets and liabilities for new or extended leases.

Balance sheet and other information related to our operating leases is as follows:


(Dollars in millions)	December 30, 2023		December 31, 2022
Other assets	$	371	$	372
Other current liabilities	55		54
Other liabilities	326		326





Weighted-average remaining lease term (in years)	10.3		10.4


Weighted-average discount rate	4.70%		4.14%

At December 30, 2023, maturities of our operating lease liabilities on an undiscounted basis totaled $69 million for 2024, $62 million for 2025, $47 million for 2026, $41 million for 2027, $39 million for 2028 and $231 million thereafter.