XML 60 R38.htm IDEA: XBRL DOCUMENT v3.21.2
Leases (Tables)
 6 Months Ended
Jul. 03, 2021
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):
AssetsBalance Sheet LocationJuly 3,
2021		December 31,
2020
OperatingOperating lease assets$171.3 $154.7 
FinanceOther non-current assets31.0 29.8 
Total$202.3 $184.5 

LiabilitiesBalance Sheet LocationJuly 3,
2021		December 31,
2020
Current
OperatingOther accrued liabilities$27.9 $28.3 
FinanceCurrent indebtedness5.2 6.7 
Non-Current
OperatingOther non-current liabilities149.6 132.5 
FinanceLong-term debt, less current portion23.3 20.2 
Total$206.0 $187.7 
    
The below table shows our lease assets and liabilities by reporting segment (in millions):
Assets
OperatingFinancing
July 3,
2021		December 31,
2020		July 3,
2021		December 31,
2020
CSCA$98.1 $75.9 $16.1 $16.7 
CSCI32.3 34.4 8.6 5.9 
Unallocated40.9 44.4 6.3 7.2 
Total$171.3 $154.7 $31.0 $29.8 
Liabilities
OperatingFinancing
July 3,
2021		December 31,
2020		July 3,
2021		December 31,
2020
CSCA$98.2 $75.8 $16.6 $17.0 
CSCI33.7 35.2 5.4 2.5 
Unallocated45.6 49.8 6.5 7.4 
Total$177.5 $160.8 $28.5 $26.9 
Lease Expense
Lease expense was as follows (in millions):
Three Months EndedSix Months Ended
July 3,
2021		June 27,
2020		July 3,
2021		June 27,
2020
Operating leases(1)
$9.8 $8.5 $19.7 $18.1 
Finance leases
Amortization$1.5 $1.0 $3.0 $2.0 
Interest0.2 0.2 0.4 0.4 
Total finance leases$1.7 $1.2 $3.4 $2.4 

            (1) Includes short-term leases and variable lease costs, which are immaterial.
Finance Lease Maturity
The annual future maturities of our leases as of July 3, 2021 are as follows (in millions):

Operating LeasesFinance LeasesTotal
2021$16.5 $3.0 $19.5 
202228.0 5.5 33.5 
202320.7 3.9 24.6 
202417.6 2.4 20.0 
202515.7 2.2 17.9 
After 2025106.9 15.9 122.8 
Total lease payments205.4 32.9 238.3 
Less: Interest27.9 4.4 32.3 
Present value of lease liabilities$177.5 $28.5 $206.0 
Operating Lease Liability Maturity
The annual future maturities of our leases as of July 3, 2021 are as follows (in millions):

Operating LeasesFinance LeasesTotal
2021$16.5 $3.0 $19.5 
202228.0 5.5 33.5 
202320.7 3.9 24.6 
202417.6 2.4 20.0 
202515.7 2.2 17.9 
After 2025106.9 15.9 122.8 
Total lease payments205.4 32.9 238.3 
Less: Interest27.9 4.4 32.3 
Present value of lease liabilities$177.5 $28.5 $206.0 
Weighted Average Lease Terms and Discount Rates
Our weighted average lease terms and discount rates are as follows:

July 3,
2021		June 27,
2020
Weighted-average remaining lease term (in years)
Operating leases11.596.31
Finance leases9.249.89
Weighted-average discount rate
Operating leases2.71 %3.73 %
Finance leases2.76 %3.39 %
Lease Cash Flow Classifications
Our lease cash flow classifications are as follows (in millions):
Six Months Ended
July 3,
2021		June 27,
2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$18.2 $17.3 
Operating cash flows for finance leases$0.4 $0.4 
Financing cash flows for finance leases$2.6 $1.9 
Leased assets obtained in exchange for new finance lease liabilities$4.4 $2.2 
Leased assets obtained in exchange for new operating lease liabilities$34.9 $22.3