Leases (Tables)

6 Months Ended

Jul. 02, 2023

Leases [Abstract]

Schedule of Information Related to Leases

Information related to the Company’s leases for the quarters and six months ended July 2, 2023 and June 26, 2022 is as follows:

	Quarter Ended						Six Months Ended
	July 2, 2023			June 26, 2022			July 2, 2023			June 26, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13.1		$	13.3		$	25.8		26.7
Right-of-use assets obtained in exchange for lease obligations:
Operating leases net of lease modifications	$	2.1		$	(9.5)		$	67.7		(0.5)
Weighted Average Remaining Lease Term
Operating leases	7.3 years			4.6 years			7.3 years			4.6 years
Weighted Average Discount Rate
Operating leases	3.7		%	3.3		%	3.7		%	3.3	%

Schedule of Reconciliation of Future Undiscounted Cash Flows

The following is a reconciliation of future undiscounted cash flows to the operating liabilities, and the related right of use assets, included in our consolidated balance sheets as of July 2, 2023:

	July 2, 2023
2023 (excluding the six months ended July 2, 2023)	$	21.9
2024	39.6
2025	34.1
2026	28.2
2027	19.8
2028 and thereafter	68.9
Total future lease payments	212.5
Less imputed interest	31.5
Present value of future operating lease payments	181.0
Less current portion of operating lease liabilities (1)	35.2
Non-current operating lease liability (2)	145.8
Operating lease right-of-use assets, net (3)	$	153.1

(1) Included in Accrued liabilities on the consolidated balance sheets.

(2) Included in Other liabilities on the consolidated balance sheets.

(3) Included in Property, plant, and equipment on the consolidated balance sheets.