Leases (Tables)

3 Months Ended

Mar. 28, 2020

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	March 28, 2020		December 31, 2019
Operating	Operating lease assets	$	124.0	$	129.9
Finance	Other non-current assets	27.9		27.6
Total		$	151.9	$	157.5

Liabilities	Balance Sheet Location	March 28, 2020		December 31, 2019
Current
Operating	Other accrued liabilities	$	30.9	$	32.0
Finance	Current indebtedness	5.7		3.4
Non-Current
Operating	Other non-current liabilities	96.8		101.7
Finance	Long-term debt, less current portion	19.3		21.1
Total		$	152.7	$	158.2

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

	Assets								Liabilities
	Operating				Financing				Operating				Financing
	March 28, 2020		December 31, 2019		March 28, 2020		December 31, 2019		March 28, 2020		December 31, 2019		March 28, 2020		December 31, 2019
CSCA	$	21.4	$	22.4	$	16.4	$	16.8	$	21.5	$	22.8	$	16.4	$	16.6
CSCI	39.3		41.6		5.7		5.8		40.3		42.4		2.7		2.9
RX	33.5		35.1		0.7		0.8		34.7		36.3		0.7		0.8
Unallocated	29.8		30.8		5.1		4.2		31.2		32.2		5.2		4.2
Total	$	124.0	$	129.9	$	27.9	$	27.6	$	127.7	$	133.7	$	25.0	$	24.5

Lease Expense

Lease expense was as follows (in millions):

	Three Months Ended
	March 28, 2020		March 30, 2019
Operating leases(1)	$	11.4	$	12.0
Finance leases
Amortization	$	1.1	$	0.7
Interest	0.2		0.1
Total finance leases	$	1.3	$	0.8

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

Finance Lease Maturity

The annual future maturities of our leases as of March 28, 2020 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2020	$	27.4	$	3.4	$	30.8
2021	28.2		5.8		34.0
2022	21.0		3.2		24.2
2023	15.6		1.8		17.4
2024	12.3		1.4		13.7
After 2024	41.5		14.2		55.7
Total lease payments	146.0		29.8		175.8
Less: Interest	18.3		4.8		23.1
Present value of lease liabilities	$	127.7	$	25.0	$	152.7

Operating Lease Liability Maturity

The annual future maturities of our leases as of March 28, 2020 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2020	$	27.4	$	3.4	$	30.8
2021	28.2		5.8		34.0
2022	21.0		3.2		24.2
2023	15.6		1.8		17.4
2024	12.3		1.4		13.7
After 2024	41.5		14.2		55.7
Total lease payments	146.0		29.8		175.8
Less: Interest	18.3		4.8		23.1
Present value of lease liabilities	$	127.7	$	25.0	$	152.7

Weighted Average Lease Terms and Discount Rates

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

	March 28, 2020
Weighted-average remaining lease term (in years)
Operating leases	6.50
Finance leases	9.90
Weighted-average discount rate
Operating leases	4.06	%
Finance leases	3.41	%

Leease Cash Flow Classifications

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

	Three Months Ended
	March 28, 2020		March 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	10.7	$	11.7
Operating cash flows for finance leases	$	0.2	$	0.1
Financing cash flows for finance leases	$	1.0	$	0.7
Leased assets obtained in exchange for new finance lease liabilities	$	1.5	$	—
Leased assets obtained in exchange for new operating lease liabilities	$	5.5	$	4.7