Leases

12 Months Ended

Dec. 30, 2022

Leases [Abstract]

Leases

NOTE 8: 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 14 years, and certain leases include options to extend the lease for up to 9 years. We consider options to extend the lease in determining the lease term.

Operating lease expense consisted of:

At the End of Year	2022		2021
(In millions)
Operating lease expense	$	36.3	$	35.5
Short-term lease expense and other	14.8		17.8
Total lease expense	$	51.1	$	53.3

Supplemental cash flow information related to leases was as follows:

At the End of Year	2022		2021
(In millions)
Cash paid for liabilities included in the measurement of lease liabilities:
Operating cash flows from operating leases (1)	$	35.0	$	35.9
Right-of-use assets obtained in exchange for Operating lease liabilities:	$	26.3	$	49.5

(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 Year	2022			2021
(In millions)
Operating lease right-of-use assets	$	121.2		$	141.0
Other current liabilities	$	35.0		$	35.0
Operating lease liabilities	105.1			121.4
Total operating lease liabilities	$	140.1		$	156.4
Weighted-average discount rate	3.30		%	3.31		%
Weighted-average remaining lease term	6 years			7 years

At the end of 2022, the maturities of lease liabilities were as follows:

(In millions)
2023	$	37.3
2024	30.3
2025	22.2
2026	16.9
2027	13.3
Thereafter	35.8
Total lease payments	$	155.8
Less: imputed interest	15.7
Total	$	140.1