Leases

12 Months Ended

Jan. 03, 2020

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

LEASES

The Company has operating leases primarily for certain of its major facilities, including corporate offices, research and development facilities, and manufacturing facilities. The remaining lease terms range from 1 to 10 years, and certain leases include options to extend the lease for up to 9 years. The Company considers options to extend the lease in determining the lease term.

Operating lease expense consisted of:

At the End of Fiscal Year	2019
(In millions)
Operating lease expense	$	38.3
Short-term lease expense and other	18.4
Total lease expense	$	56.7

Supplemental cash flow information related to leases was as follows:

At the End of Fiscal Year	2019
(In millions)
Cash paid for liabilities included in the measurement of lease liabilities:
Operating cash flows from operating leases (1)	$	37.9
Right-of-use assets obtained in exchange for Operating lease liabilities:	$	53.2

(1) Excludes cash payments for short-term leases, which are not capitalized.

Supplemental balance sheet information related to leases was as follows:

At the End of Fiscal Year	2019
(In millions)
Operating lease right-of-use assets	$	140.3
Other current liabilities	$	28.9
Operating lease liabilities	114.1
Total operating lease liabilities	$	143.0
Weighted-average discount rate	4.23		%
Weighted-average remaining lease term	6 years

At the end of fiscal year 2019, the Company's maturities of lease liabilities were as follows (in millions):

Year Payable
2020	$	34.0
2021	32.2
2022	25.8
2023	20.3
2024	15.0
Thereafter	33.5
Total lease payments	$	160.8
Less imputed interest	17.8
Total	$	143.0

The Company signed operating leases for real estate of approximately $39.4 million that have not yet commenced at the end of fiscal 2019, and as such, have not been recognized on the Company’s Consolidated Balance Sheets. These operating leases are expected to commence in 2020 and 2021 with lease terms ranging from 1 to 13 years.