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Leases
 12 Months Ended
Dec. 30, 2023
Leases [Abstract]  
Leases Leases
We have operating and finance leases for manufacturing and production facilities, branch distribution and warehouse facilities, vehicles and machinery and equipment. The remaining terms on our finance leases range from one year to 8 years, while our operating leases range from one year to 17 years, some of which may include options to extend the leases generally between one year and 10 years, and some of which may include options to terminate the leases within one year.
The components of lease expense were as follows:
For the Fiscal Year Ended
(in millions of U.S. dollars)December 30, 2023December 31, 2022
Operating lease cost$39.9 $37.4 
Short-term lease cost3.8 $2.8 
Finance lease cost
Amortization of right-of-use assets$11.7 $12.4 
Interest on lease liabilities2.2 2.7 
Total finance lease cost$13.9 $15.1 
Sublease income$1.7 $1.4 
Supplemental cash flow information related to leases was as follows:
For the Fiscal Year Ended
(in millions of U.S. dollars)December 30, 2023December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$39.1 $35.7 
Operating cash flows from finance leases$2.2 $2.6 
Financing cash flows from finance leases$11.5 $12.0 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$28.8 $42.4 
Finance leases$10.9 $3.3 
Supplemental balance sheet information related to leases was as follows:
(in millions of U.S. dollars, except lease term and discount rate)December 30, 2023December 31, 2022
Operating leases
Operating lease right-of-use assets$136.0 $143.2 
Current operating lease obligations25.6 26.6 
Operating lease obligations124.0 127.6 
Total operating lease obligations$149.6 $154.2 
Financing leases
Property, plant and equipment, net$45.0 $45.7 
Current maturities of long-term debt14.2 10.9 
Long-term debt33.4 37.4 
Total finance lease obligations$47.6 $48.3 
Weighted-Average Remaining Lease TermDecember 30, 2023December 31, 2022
Operating leases7.3 years7.8 years
Finance leases3.4 years4.4 years
Weighted-Average Discount Rate
Operating leases6.6 %6.5 %
Finance leases5.5 %5.1 %
Maturities of operating lease obligations were as follows:
(in millions of U.S. dollars)December 30, 2023
2024$35.9 
202534.1 
202625.8 
202721.8 
202812.7 
Thereafter63.8 
Total lease payments194.1 
Less imputed interest(44.5)
Present value of lease obligations$149.6 
Maturities of finance lease obligations were as follows:
(in millions of U.S. dollars)December 30, 2023
2024$16.7 
202516.2 
202613.1 
20274.6 
20282.0 
Thereafter0.3 
Total lease payments52.9 
Less imputed interest(5.3)
Present value of lease obligations$47.6 
Leases Leases
We have operating and finance leases for manufacturing and production facilities, branch distribution and warehouse facilities, vehicles and machinery and equipment. The remaining terms on our finance leases range from one year to 8 years, while our operating leases range from one year to 17 years, some of which may include options to extend the leases generally between one year and 10 years, and some of which may include options to terminate the leases within one year.
The components of lease expense were as follows:
For the Fiscal Year Ended
(in millions of U.S. dollars)December 30, 2023December 31, 2022
Operating lease cost$39.9 $37.4 
Short-term lease cost3.8 $2.8 
Finance lease cost
Amortization of right-of-use assets$11.7 $12.4 
Interest on lease liabilities2.2 2.7 
Total finance lease cost$13.9 $15.1 
Sublease income$1.7 $1.4 
Supplemental cash flow information related to leases was as follows:
For the Fiscal Year Ended
(in millions of U.S. dollars)December 30, 2023December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$39.1 $35.7 
Operating cash flows from finance leases$2.2 $2.6 
Financing cash flows from finance leases$11.5 $12.0 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$28.8 $42.4 
Finance leases$10.9 $3.3 
Supplemental balance sheet information related to leases was as follows:
(in millions of U.S. dollars, except lease term and discount rate)December 30, 2023December 31, 2022
Operating leases
Operating lease right-of-use assets$136.0 $143.2 
Current operating lease obligations25.6 26.6 
Operating lease obligations124.0 127.6 
Total operating lease obligations$149.6 $154.2 
Financing leases
Property, plant and equipment, net$45.0 $45.7 
Current maturities of long-term debt14.2 10.9 
Long-term debt33.4 37.4 
Total finance lease obligations$47.6 $48.3 
Weighted-Average Remaining Lease TermDecember 30, 2023December 31, 2022
Operating leases7.3 years7.8 years
Finance leases3.4 years4.4 years
Weighted-Average Discount Rate
Operating leases6.6 %6.5 %
Finance leases5.5 %5.1 %
Maturities of operating lease obligations were as follows:
(in millions of U.S. dollars)December 30, 2023
2024$35.9 
202534.1 
202625.8 
202721.8 
202812.7 
Thereafter63.8 
Total lease payments194.1 
Less imputed interest(44.5)
Present value of lease obligations$149.6 
Maturities of finance lease obligations were as follows:
(in millions of U.S. dollars)December 30, 2023
2024$16.7 
202516.2 
202613.1 
20274.6 
20282.0 
Thereafter0.3 
Total lease payments52.9 
Less imputed interest(5.3)
Present value of lease obligations$47.6