COMMITMENTS AND LEASES (Tables)

12 Months Ended

Jan. 01, 2022

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


	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