Leases (Tables)

9 Months Ended

Sep. 29, 2019

Leases

Schedule of right-of-use asset amounts reported in consolidated balance sheet

	September 29, 2019
	(in millions)
Operating Leases (1)
Real Estate	$	31.0
Automobile		3.0
Machinery and equipment		3.1
Total operating lease ROU Asset	$	37.1
Finance Leases (2)
Real Estate	$	14.1
Machinery and equipment		4.4
Less: Accumulated depreciation		(8.3)
Finance Leases, net	$	10.2

(1) Included on the Company’s consolidated balance sheet in other assets (other, net).

(2) Included on the Company’s consolidated balance sheet in property, plant and equipment.

Schedule of maturity of operating and finance lease liabilities

	September 29, 2019
	Operating Leases		Finance Leases
	(in millions)
2019 (excluding the nine months ended September 29, 2019)	$	2.7	$	0.5
2020		10.7		1.8
2021		6.6		1.0
2022		4.5		0.6
2023		3.4		0.3
Thereafter		18.2		0.1
Total undiscounted minimum lease payments	$	46.1	$	4.3
Less imputed interest		6.8		0.2
Total lease liabilities	$	39.3	$	4.1
Included in the consolidated balance sheet
Current lease liabilities (included in other current liabilities)		10.1		1.7
Non-Current lease liabilities (included in other non-current liabilities)		29.2		2.4
Total lease liabilities	$	39.3	$	4.1

Schedule of total lease cost and cash flows related to operating and finance leases

The total lease cost consisted of the following amounts:

		Third Quarter Ended		Nine Months Ended
		September 29, 2019		September 29, 2019
		(in millions)
Operating lease cost	$	3.0	$	8.9
Amortization of finance lease right-of-use assets		0.3		0.9
Interest on lease liabilities		0.1		0.2
Variable lease cost		0.8		2.3
Total lease cost	$	4.2	$	12.3

The following information represents supplemental disclosure for the statement of cash flows related to operating and finance leases:

	September 29, 2019
	(in millions)
Operating cash flows from operating leases	$	8.8
Operating cash flows from finance leases		0.2
Financing cash flows from finance leases		1.2
Total cash paid for amounts included in the measurement of lease liabilities		10.2
Finance lease liabilities arising from obtaining right-of-use assets		1.1
Operating lease liabilities arising from obtaining right-of-use assets		11.8

Schedule of additional information associated with leases

	September 29, 2019
Weighted-average remaining lease term - finance leases		2.9	years
Weighted-average remaining lease term - operating leases		7.5	years
Weighted-average discount rate - finance leases		3.8	%
Weighted-average discount rate - operating leases		3.7	%