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COMMITMENTS AND LEASES
12 Months Ended
Jan. 01, 2022
Leases [Abstract]  
COMMITMENTS AND LEASES
NOTE 7. COMMITMENTS AND LEASES
Supplemental cost information related to leases is shown below.
 
(In millions)
  
2021
       
 
       
 
    
2020
       
 
       
 
    
2019
 
Operating lease costs
   $ 68.8     
 
 
 
 
 
 
  
 
 
 
 
 
 
   $ 63.1     
 
 
 
 
 
 
  
 
 
 
 
 
 
   $ 65.4  
Lease costs related to finance leases were not material in 2021, 2020 or 2019.
Supplemental balance sheet information related to leases is shown below.

 
(In millions)
  
Balance Sheet Location
  
2021
 
  
2020    
 
Assets
  
 
  
     
  
 
                       
 
Operating
   Other assets     
$    183.0
     
$    161.3    
 
Finance
(1)
   Property, plant and equipment, net      28.9    
 
 
38.2      
Total leased assets
  
 
 
    
$    211.9
   
 
 
$    199.5    
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
                     
Current:
                     
Operating
   Other current liabilities     
$      47.3
     
$      44.3    
 
Finance
   Short-term borrowings and current portion of long-term debt and finance leases      5.5       5.6      
Non-current:
                     
Operating
   Long-term retirement benefits and other liabilities      135.3       116.0      
Finance
   Long-term debt and finance leases      11.7    
 
 
22.9      
Total lease liabilities
  
 
 
    
$    199.8
   
 
 
$    188.8    
 
(1)
Finance lease assets are net of accumulated amortization of $10.4 million and $8.3 million as of January 1, 2022 and January 2, 2021, respectively.
Supplemental cash flow information related to leases is shown below.

 
 
(In millions)
  
2021
 
  
2020 
 
 
2019    
 
Cash paid for amounts included in the measurement of operating lease liabilities
  
 
$      54.2
 
  
 
$      54.9 
 
 
 
$      53.1    
 
Operating lease assets obtained in exchange for operating lease liabilities
     58.0        48.4     
 
 
32.6      
Cash flows related to finance leases were not material in 2021, 2020 or 2019.
Weighted average remaining lease term and discount rate information related to leases as of January 1, 2022 is shown below.

 
  
 
  
2021
 
 
2020
 
Weighted average remaining lease term (in years):
  
     
 
     
Operating
    6.5  
 
 
6.2
 
Finance
    3.3  
 
 
3.2
 
Weighted average discount rate (percentage):
       
 
 
 
 
Operating
    3.0
 
 
4.3
Finance
    2.9
 
 
 
2.9
 
Operating and finance lease liabilities by maturity date from January 1, 2022 are shown below. 
 
(In millions)
  
Operating Leases
 
 
Finance Leases
 
2022
   $ 51.5     $ 6.1  
2023
     40.1       5.3  
2024
     29.8       5.0  
2025
     22.9       1.7  
2026
     14.4       .2  
2027 and thereafter
     45.7        
Total lease payments
     204.4       18.3  
Less: imputed interest
     (21.8
    (1.1
Present value of lease liabilities
   $ 182.6     $ 17.2  
As of January 1, 2022, we had no significant operating or finance leases that had not yet commenced.