Leases (Tables)

9 Months Ended

Sep. 28, 2019

Leases [Abstract]

Balance Sheet Location of Lease Assets and Liabilities

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

Assets	Balance Sheet Location	September 28, 2019
Operating	Operating lease assets	$	131.9
Finance	Other non-current assets	27.2
Total		$	159.1

Liabilities	Balance Sheet Location	September 28, 2019
Current
Operating	Other accrued liabilities	$	32.2
Finance	Current indebtedness	3.1
Non-Current
Operating	Other non-current liabilities	103.3
Finance	Long-term debt, less current portion	21.0
Total		$	159.6

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

	Assets				Liabilities
	Operating		Financing		Operating		Financing
	September 28, 2019		September 28, 2019		September 28, 2019		September 28, 2019
CSCA	$	23.1	$	17.2	$	23.4	$	16.9
CSCI	40.4		5.7		41.2		2.9
RX	36.4		0.7		37.6		0.7
Unallocated	32.0		3.6		33.3		3.6
Total	$	131.9	$	27.2	$	135.5	$	24.1

Finance Lease Maturity

The annual future maturities of our leases as of September 28, 2019 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2019	$	9.3	$	1.0	$	10.3
2020	35.3		3.7		39.0
2021	25.8		4.9		30.7
2022	18.8		2.4		21.2
2023	14.3		1.6		15.9
After 2023	51.9		15.6		67.5
Total lease payments	155.4		29.2		184.6
Less: Interest	19.9		5.1		25.0
Present value of lease liabilities	$	135.5	$	24.1	$	159.6

Operating Lease Liability Maturity

The annual future maturities of our leases as of September 28, 2019 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2019	$	9.3	$	1.0	$	10.3
2020	35.3		3.7		39.0
2021	25.8		4.9		30.7
2022	18.8		2.4		21.2
2023	14.3		1.6		15.9
After 2023	51.9		15.6		67.5
Total lease payments	155.4		29.2		184.6
Less: Interest	19.9		5.1		25.0
Present value of lease liabilities	$	135.5	$	24.1	$	159.6

Lease Expense

Lease expense was as follows (in millions):

	Three Months Ended		Nine Months Ended
	September 28, 2019		September 28, 2019
Operating leases(1)	$	11.0	$	33.9
Finance leases
Amortization	$	0.9	$	2.3
Interest	0.2		0.4
Total finance leases	$	1.1	$	2.7

(1) 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:

	September 28, 2019
Weighted-average remaining lease term (in years)
Operating leases	6.58
Finance leases	10.90
Weighted-average discount rate
Operating leases	4.17	%
Finance leases	3.50	%

Leease Cash Flow Classifications

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

	Nine Months Ended
	September 28, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	33.6
Operating cash flows for finance leases	$	0.4
Financing cash flows for finance leases	$	2.2
Leased assets obtained in exchange for new finance lease liabilities	$	19.0
Leased assets obtained in exchange for new operating lease liabilities	$	5.3