Leases

6 Months Ended

Jun. 29, 2024

Leases [Abstract]

Leases

Leases

During the six months ended June 29, 2024, the Company recorded an additional $14 million of right-of-use (“ROU”) assets obtained in exchange for lease obligations primarily related to the commencement of a new office facility lease as well as contract modifications that extended existing lease terms.

Future minimum lease payments under non-cancellable leases as of June 29, 2024 were as follows (in millions):

2024 (6 months remaining)	$	27
2025	43
2026	36
2027	29
2028	25
Thereafter	66
Total future minimum lease payments	$	226
Less: Interest	(40)
Present value of lease liabilities	$	186
Reported as of June 29, 2024:
Current portion of lease liabilities	$	41
Long-term lease liabilities	145
Present value of lease liabilities	$	186

The current portion of lease liabilities is included within Accrued liabilities on the Consolidated Balance Sheets.