Lease

9 Months Ended

Sep. 27, 2019

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

LEASES

The Company has operating leases primarily for certain of its major facilities, including corporate offices, research and development facilities, and manufacturing facilities. The remaining lease terms generally range from 1 to 10 years, and certain leases include options to extend the lease for up to 9 years. The Company considers options to extend the lease in determining the lease term.

Operating lease expense consisted of:

	Third Quarter of		First Three Quarters of
As of	2019		2019
(In millions)
Operating lease expense	$	9.7	$	28.7
Short-term lease expense and other	4.1		13.5
Total lease expense	$	13.8	$	42.2

Supplemental cash flow information related to leases was as follows:

	First Three Quarters of
As of	2019
(In millions)
Cash paid for liabilities included in the measurement of lease liabilities:
Operating cash flows from operating leases (1)	$	28.3
Right-of-use assets obtained in exchange for Operating lease liabilities:	$	39.2

(1) Excludes cash payments for short-term leases, which are not capitalized.

Supplemental balance sheet information related to leases was as follows:

	Third Quarter of
As of	2019
(In millions)
Operating lease right-of-use assets	$	133.7
Other current liabilities	$	29.1
Operating lease liabilities	109.0
Total operating lease liabilities	$	138.1
Weighted-average discount rate	4.36		%
Weighted-average remaining lease term	6 years

At the end of the third quarter of fiscal 2019, the Company's maturities of lease liabilities were as follows (in millions):

Year Payable
2019 (Remaining)	$	8.7
2020	34.2
2021	29.3
2022	23.8
2023	18.7
Thereafter	41.7
Total lease payments	$	156.4
Less imputed interest	$	18.3
Total	$	138.1

The Company has one operating lease for real estate of $31.2 million that has not yet commenced as of the end of the third quarter of fiscal 2019, and as such, has not been recognized on the Company’s Condensed Consolidated Balance Sheets. This operating lease is expected to commence in 2021 with a lease term of 13 years.