Leases

3 Months Ended

Dec. 27, 2020

For the quarter ended December 27, 2020, we recognized accelerated lease right-of-use ("ROU") asset amortization costs of $29.6 million, which was recognized within restructuring and impairments on the consolidated statements of earnings.

The components of lease costs (in millions):


	Quarter Ended
	Dec 27, 2020		Dec 29, 2019
Operating lease costs(1)	$	409.4	$	373.1
Variable lease costs	222.4		228.8
Short-term lease costs	8.7		8.3
Total lease costs	$	640.5	$	610.2

(1)Operating lease costs were net of immaterial amounts of sublease income and rent concessions.

The following table includes supplemental information (in millions):


	Quarter Ended
	Dec 27, 2020			Dec 29, 2019
Cash paid related to operating lease liabilities	$	385.6		$	368.9
Operating lease liabilities arising from obtaining ROU assets	353.8			226.4

	Dec 27, 2020			Dec 29, 2019
Weighted-average remaining operating lease term	8.8 years			9.0 years
Weighted-average operating lease discount rate	2.5		%	2.5		%

Finance lease assets are recorded in property, plant and equipment, net with the corresponding lease liabilities included in accrued liabilities and other long-term liabilities on the consolidated balance sheet. There were no material finance leases as of December 27, 2020.

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


Fiscal Year	Total
2021 (excluding the quarter ended December 27, 2020)	$	1,173.9
2022	1,463.3
2023	1,321.2
2024	1,180.3
2025	1,030.6
Thereafter	3,992.3
Total lease payments	10,161.6
Less imputed interest	(1,139.5)
Total	$	9,022.1

As of December 27, 2020, we have entered into operating leases that have not yet commenced of $723.4 million, primarily related to real estate leases. These leases will commence between fiscal year 2021 and fiscal year 2027 with lease terms ranging from 3 years to 20 years.