Leases

3 Months Ended

Apr. 01, 2023

Leases [Abstract]

Leases

Leases

During the three months ended April 1, 2023, the Company recorded an additional $26 million of right-of-use (“ROU”) assets obtained in exchange for lease obligations primarily related to the commencement of a new office facility lease.

Future minimum lease payments under non-cancellable leases as of April 1, 2023 were as follows (in millions):

2023 (9 months remaining)	$	36
2024	48
2025	35
2026	28
2027	21
Thereafter	72
Total future minimum lease payments	$	240
Less: Interest	(47)
Present value of lease liabilities	$	193
Reported as of April 1, 2023:
Current portion of lease liabilities	$	36
Long-term lease liabilities	157
Present value of lease liabilities	$	193

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