Leases (Tables)

6 Months Ended

Jun. 29, 2019

Leases [Abstract]

Balance Sheet Location of Lease Assets and Liabilities

The balance sheet location of our lease assets and liabilities were as follows (in millions):

Assets	Balance Sheet Location	June 29, 2019
Operating	Operating lease assets	$	135.4
Finance	Other non-current assets	17.1
Total		$	152.5

Liabilities	Balance Sheet Location	June 29, 2019
Current
Operating	Accrued liabilities	$	32.9
Finance	Current indebtedness	1.9
Non-Current
Operating	Other non-current liabilities	107.4
Finance	Long-term debt, less current portion	11.8
Total		$	154.0

The below table shows our lease assets and liabilities by reporting segment (in millions):

	Assets				Liabilities
	Operating		Financing		Operating		Financing
	June 29, 2019		June 29, 2019		June 29, 2019		June 29, 2019
CSCA	$	22.7	$	8.9	$	22.9	$	8.4
CSCI	42.0		6.1		42.9		3.2
RX	37.5		0.3		38.9		0.3
Unallocated	33.2		1.8		35.6		1.8
Total	$	135.4	$	17.1	$	140.3	$	13.7

Finance Lease Maturity

The annual future maturities of our leases as of June 29, 2019 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2019	$	19.4	$	1.2	$	20.6
2020	34.6		2.3		36.9
2021	24.9		3.6		28.5
2022	18.3		1.2		19.5
2023	14.0		1.0		15.0
After 2023	51.7		7.8		59.5
Total lease payments	162.9		17.1		180.0
Less: Interest	22.6		3.4		26.0
Present value of lease liabilities	$	140.3	$	13.7	$	154.0

Operating Lease Liability Maturity

The annual future maturities of our leases as of June 29, 2019 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2019	$	19.4	$	1.2	$	20.6
2020	34.6		2.3		36.9
2021	24.9		3.6		28.5
2022	18.3		1.2		19.5
2023	14.0		1.0		15.0
After 2023	51.7		7.8		59.5
Total lease payments	162.9		17.1		180.0
Less: Interest	22.6		3.4		26.0
Present value of lease liabilities	$	140.3	$	13.7	$	154.0

Lease Expense

Lease expense was as follows (in millions):

	Three Months Ended		Six Months Ended
	June 29, 2019		June 29, 2019
Operating leases(a)	$	11.2	$	23.2
Finance leases
Amortization	$	0.7	$	1.3
Interest	0.1		0.2
Total finance leases	$	0.8	$	1.5

(a) Includes short-term leases and variable lease costs, which are immaterial.

Weighted Average Lease Terms and Discount Rates

Our weighted average lease terms and discount rates are as follows:

	June 29, 2019
Weighted-average remaining lease term (in years)
Operating leases	6.59
Finance leases	9.43
Weighted-average discount rate
Operating leases	4.19	%
Finance leases	4.35	%

Leease Cash Flow Classifications

Our lease cash flow classifications are as follows (in millions):

	Six Months Ended
	June 29, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	23.0
Operating cash flows for finance leases	$	0.2
Financing cash flows for finance leases	$	1.4
Leased assets obtained in exchange for new finance lease liabilities	$	7.8
Leased assets obtained in exchange for new operating lease liabilities	$	12.8