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Lease Receivable (Tables)
9 Months Ended
Oct. 01, 2022
Leases [Abstract]  
Sale-Type Lease Receivable
Lease receivable from sales-type leases consists of the following:
(in millions)October 1,
2022
January 1,
2022
Lease receivable$110.0 $102.6 
Allowance for credit loss(0.3)(0.3)
     Lease receivable, net109.7 102.3 
Less: current portion of lease receivable(30.1)(28.7)
     Lease receivable, noncurrent$79.6 $73.6 
Sales-type Lease, Lease Receivable, Maturity
As of October 1, 2022, estimated future maturities of customer sales-type lease receivables and operating lease payments for each of the following fiscal years are as follows:
Future Lease Receivables/Payments
(in millions)
Fiscal yearSales-Type LeasesOperating Leases
2022 (balance of year)$7.8 $0.7 
202329.1 2.6 
202425.4 2.5 
202519.9 2.5 
202613.4 2.3 
Thereafter14.1 4.8 
     Total$109.7 $15.4 
Less: imputed interest(1)
— 
     Present value of total lease payments$109.7 
______________
(1)     The calculation of the rates implicit in the leases resulted in negative discount rates. Therefore, the Company as a lessor used a 0% discount rate to measure the net investment in the lease.