Leases

6 Months Ended

Jul. 01, 2023

Leases [Abstract]

Leases

Leases

During the six months ended July 1, 2023, the Company recorded an additional $38 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 July 1, 2023 were as follows (in millions):

2023 (6 months remaining)	$	25
2024	48
2025	37
2026	32
2027	25
Thereafter	76
Total future minimum lease payments	$	243
Less: Interest	(47)
Present value of lease liabilities	$	196
Reported as of July 1, 2023:
Current portion of lease liabilities	$	39
Long-term lease liabilities	157
Present value of lease liabilities	$	196

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