Leases

12 Months Ended

Jan. 01, 2021

LEASES

We have operating leases primarily for certain of our major facilities, including corporate offices, research and development facilities, and manufacturing facilities. Lease terms range from 1 to 10 years, and certain leases include options to extend the lease for up to 6 years. We consider options to extend the lease in determining the lease term.

Operating lease expense consisted of:


At the End of Fiscal Year	2020		2019
(In millions)
Operating lease expense	$	38.1	$	38.3
Short-term lease expense and other	15.7		18.4
Total lease expense	$	53.8	$	56.7

Supplemental cash flow information related to leases was as follows:


At the End of Fiscal Year	2020		2019
(In millions)
Cash paid for liabilities included in the measurement of lease liabilities:
Operating cash flows from operating leases (1)	$	37.0	$	37.9

Right-of-use assets obtained in exchange for Operating lease liabilities:	$	29.4	$	53.2

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

Supplemental balance sheet information related to leases was as follows:



At the End of Fiscal Year	2020			2019
(In millions)
Operating lease right-of-use assets	$	128.9		$	140.3

Other current liabilities	$	33.8		$	28.9
Operating lease liabilities	109.2			114.1
Total operating lease liabilities	$	143.0		$	143.0

Weighted-average discount rate	3.86		%	4.23		%
Weighted-average remaining lease term	6 years			6 years

At the end of fiscal 2020, the maturities of lease liabilities were as follows (in millions):


Year Payable
2021	$	37.6
2022	31.9
2023	24.3
2024	18.7
Thereafter	46.4
Total lease payments	$	158.9
Less: imputed interest	15.9
Total	$	143.0

We signed operating leases for real estate of approximately $40.0 million that have not yet commenced at the end of fiscal 2020, and as such, have not been recognized on our Consolidated Balance Sheets. These operating leases are expected to commence in 2021 with lease terms ranging from 1 to 13 years.