Leases

12 Months Ended

Sep. 27, 2020

Leases [Abstract]

Leases

Leases

The components of lease costs (in millions):

	Year Ended
	Sep 27, 2020
Operating lease costs(1)	$	1,573.6
Variable lease costs	833.4
Short-term lease costs	34.1
Total lease costs	$	2,441.1

(1)Operating lease costs includes an immaterial amount of sublease income.

The following table includes supplemental information (in millions):

	Year Ended
	Sep 27, 2020
Cash paid related to operating lease liabilities	$	1,463.3
Operating lease liabilities arising from obtaining ROU assets(1)	1,093.0

(1)Excludes the initial impact of adoption. See Note 1, Summary of Significant Accounting Policies for additional information.

	Sep 27, 2020
Weighted-average remaining operating lease term	8.8 years
Weighted-average operating lease discount rate	2.5	%

Finance lease assets are recorded in property, plant and equipment, net with the corresponding lease liabilities included in accrued liabilities on the consolidated balance sheet. Finance leases were immaterial as of September 27, 2020.

Minimum future maturities of operating lease liabilities (in millions):

Fiscal Year	Total
2021	$	1,528.1
2022	1,402.6
2023	1,266.1
2024	1,132.1
2025	980.5
Thereafter	3,780.2
Total lease payments	10,089.6
Less imputed interest	(1,179.1)
Total	$	8,910.5

As of September 27, 2020, we have entered into operating leases that have not yet commenced of $653.8 million, primarily related to real estate leases. These leases will commence between fiscal year 2021 and fiscal year 2026 with lease terms of 3

years to 20 years. A charge of $87.7 million in accelerated amortization and impairment of ROU assets was recorded in restructuring and impairments on the consolidated statement of earnings in fiscal 2020.