Leases

12 Months Ended

Dec. 30, 2023

7. Leases

We have operating and finance leases for buildings and certain machinery and equipment. Operating leases are included in operating lease assets, other current liabilities and operating lease liabilities in our consolidated balance sheets. Amounts recognized for finance leases as of and for the years ended December 30, 2023 and December 31, 2022 were immaterial.

Operating lease expense recognized in the consolidated statement of comprehensive income for 2023, 2022 and 2021 and were $42.1 million, $37.4 million and $35.6 million, respectively, including approximately $1.8 million, $2.6 million and $1.8 million of short-term and variable lease costs for 2023, 2022 and 2021, respectively.

Other information related to leases was as follows:


(In millions, except lease term and discount rate)	December 30, 2023			December 31, 2022			December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	36.5		$	35.1		$	33.3
Right-of-use assets obtained in exchange for operating lease obligations	$	87.1		$	21.6		$	33.9
Weighted average remaining lease term - operating leases	6.7 years			5.6 years			6.1 years
Weighted average discount rate - operating leases		4.1	%		3.6	%		3.5	%

Future lease payments under non-cancelable operating leases as of December 30, 2023 were as follows:


(In millions)

2024	$	37.6
2025		32.9
2026		29.5
2027		24.6
2028		20.9
Thereafter		61.1
Total lease payments		206.6
Less imputed interest		(26.2	)
Total	$	180.4
Reported as of December 30, 2023
Other current liabilities	$	37.1
Operating lease liabilities		143.3
Total	$	180.4