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v3.25.1

Leases | 3 Months Ended
--- | ---
Mar. 29, 2025
Leases [Abstract] |
Leases | Leases Components of Lease Expense
| Three Months Ended |  |
(in millions) | March 29, 2025 |  | March 30, 2024 |  |  |  |
Lease expense: |  |  |  |  |  |  |
Operating lease cost | $ | 35 |  |  | $ | 35 |  |  |  |  |
Variable cost | 12 |  |  | 11 |  |  |  |  |
Sublease income | (2) |  |  | (1) |  |  |  |  |
Net lease expense from operating leases | $ | 45 |  |  | $ | 45 |  |  |  |  |
Lease Assets and Liabilities
(in millions) |  | Statement Line Classification |  | March 29, 2025 |  | December 31, 2024 |  |
Right-of-use lease assets |  | Operating lease assets |  | $ | 521 |  |  | $ | 529 |  |  |
Current lease liabilities |  | Accrued liabilities |  | 114 |  |  | 127 |  |  |
Operating lease liabilities |  | Operating lease liabilities |  | 412 |  |  | 427 |  |  |
Other Information Related to Leases
| Three Months Ended |  |
(in millions) | March 29, 2025 |  | March 30, 2024 |  |
Supplemental cash flow information: |  |  |  |  |
Net cash used for operating activities related to operating leases | $ | 54 |  |  | $ | 38 |  |  |
Right-of-use assets obtained in exchange for lease liabilities | 12 |  |  | 83 |  |  |
| March 29, 2025 |  | December 31, 2024
Weighted average remaining lease terms (years) | 5 |  | 5
Weighted average discount rate: | 3.97 | % |  | 3.97 | %
Future Lease Payments
| March 29, 2025 |  |  |  |
(in millions) | Operating Leases |  |  |  |
Remainder of 2025 | $ | 97 |  |  |  |  |
2026 | 134 |  |  |  |  |
2027 | 114 |  |  |  |  |
2028 | 87 |  |  |  |  |
2029 | 65 |  |  |  |  |
Thereafter | 85 |  |  |  |  |
Total lease payments | 582 |  |  |  |  |
Less: interest | 56 |  |  |  |  |
Present value of lease liabilities | $ | 526 |  |  |  |  |
Leases | Leases Components of Lease Expense
| Three Months Ended |  |
(in millions) | March 29, 2025 |  | March 30, 2024 |  |  |  |
Lease expense: |  |  |  |  |  |  |
Operating lease cost | $ | 35 |  |  | $ | 35 |  |  |  |  |
Variable cost | 12 |  |  | 11 |  |  |  |  |
Sublease income | (2) |  |  | (1) |  |  |  |  |
Net lease expense from operating leases | $ | 45 |  |  | $ | 45 |  |  |  |  |
Lease Assets and Liabilities
(in millions) |  | Statement Line Classification |  | March 29, 2025 |  | December 31, 2024 |  |
Right-of-use lease assets |  | Operating lease assets |  | $ | 521 |  |  | $ | 529 |  |  |
Current lease liabilities |  | Accrued liabilities |  | 114 |  |  | 127 |  |  |
Operating lease liabilities |  | Operating lease liabilities |  | 412 |  |  | 427 |  |  |
Other Information Related to Leases
| Three Months Ended |  |
(in millions) | March 29, 2025 |  | March 30, 2024 |  |
Supplemental cash flow information: |  |  |  |  |
Net cash used for operating activities related to operating leases | $ | 54 |  |  | $ | 38 |  |  |
Right-of-use assets obtained in exchange for lease liabilities | 12 |  |  | 83 |  |  |
| March 29, 2025 |  | December 31, 2024
Weighted average remaining lease terms (years) | 5 |  | 5
Weighted average discount rate: | 3.97 | % |  | 3.97 | %
Future Lease Payments
| March 29, 2025 |  |  |  |
(in millions) | Operating Leases |  |  |  |
Remainder of 2025 | $ | 97 |  |  |  |  |
2026 | 134 |  |  |  |  |
2027 | 114 |  |  |  |  |
2028 | 87 |  |  |  |  |
2029 | 65 |  |  |  |  |
Thereafter | 85 |  |  |  |  |
Total lease payments | 582 |  |  |  |  |
Less: interest | 56 |  |  |  |  |
Present value of lease liabilities | $ | 526 |  |  |  |  |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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