Leases

3 Months Ended

Mar. 30, 2024

Leases [Abstract]

Leases

Leases

During the three months ended March 30, 2024, the Company recorded an additional $10 million of right-of-use (“ROU”) assets obtained in exchange for lease obligations primarily related to the commencement of a new office facility lease as well as contract modifications that extended existing lease terms.

Future minimum lease payments under non-cancellable leases as of March 30, 2024 were as follows (in millions):

2024 (9 months remaining)	$	40
2025	42
2026	36
2027	28
2028	24
Thereafter	64
Total future minimum lease payments	$	234
Less: Interest	(42)
Present value of lease liabilities	$	192
Reported as of March 30, 2024:
Current portion of lease liabilities	$	41
Long-term lease liabilities	151
Present value of lease liabilities	$	192

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