Leases

6 Months Ended

Jul. 02, 2022

Leases [Abstract]

Leases

Leases

During the three months ended July 2, 2022, the Company recorded an additional $54 million of right-of-use (“ROU”) assets obtained in exchange for lease obligations primarily related to the commencement of a new distribution center lease agreement and an extension to a real estate lease agreement.

Future minimum lease payments under non-cancellable leases as of July 2, 2022 were as follows (in millions):

2022 (remaining 6 months)	$	24
2023	44
2024	42
2025	30
2026	25
Thereafter	67
Total future minimum lease payments	$	232
Less: Interest	(38)
Present value of lease liabilities	$	194
Reported as of July 2, 2022:
Current portion of lease liabilities	$	39
Long-term lease liabilities	155
Present value of lease liabilities	$	194

The current portion of lease liabilities is included within Accrued liabilities on the Consolidated Balance Sheets.