LEASES (Tables)

12 Months Ended

Jan. 03, 2020

Leases [Abstract]

Lease cost

Lease costs are included within "Operating expenses" in the Company's Consolidated Statements of Income and were as follows:

	Year Ended
(In millions)	January 3, 2020
Lease cost
Operating lease cost	$	79.0
Variable lease cost	22.2
Short-term lease cost	1.2
Total lease cost	$	102.4

Lease term and discount rate

The weighted-average remaining lease term and weighted-average discount rate under operating leases were as follows:

	January 3, 2020
Lease term and discount rate
Weighted-average remaining lease term	6.5 years
Weighted-average discount rate (a)	5.9	%

(a)Upon adoption of ASU 2016-02, the discount rate used for existing leases was established as of December 29, 2018.

Lease maturity schedule

Maturities of operating lease liabilities at January 3, 2020 were as follows:

(In millions)
2020	$	75.4
2021	59.2
2022	54.4
2023	40.8
2024	32.0
2025 and thereafter	81.6
Total lease payments	$	343.4
Less imputed interest	61.4
Present value of lease liabilities	$	282.0