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Balance Sheet Information and Other | 6 Months Ended
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Jul. 03, 2020
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Information and Other | Note 6: Balance Sheet Information and Other Goodwill
Changes in the goodwill balance from December 31, 2019 through July 3, 2020 were as follows (in millions):
Net balance as of December 31, 2019 |  | $ | 1,659.2 |
Addition due to business combination |  | 4.2 |
Net balance as of July 3, 2020 |  | $ | 1,663.4 |
Goodwill is tested for impairment annually on the first day of the fourth quarter or more frequently if events or changes in circumstances (each, a "triggering event") would more likely than not reduce the carrying value of goodwill below its fair value. Management considered the general economic decline and the impact of the COVID-19 pandemic, but did not identify any triggering events during the quarter and six months ended July 3, 2020 that would require an interim impairment analysis. Inventory Details of Inventory included in the Company’s Consolidated Balance Sheets are as follows (in millions):
| As of |  |
| July 3, 2020 |  | December 31, 2019
Inventories: |  |  |
Raw materials | $ | 148.0 |  |  | $ | 138.4 |
Work in process | 848.0 |  |  | 772.9 |
Finished goods | 289.4 |  |  | 321.1 |
| $ | 1,285.4 |  |  | $ | 1,232.4 |
Defined Benefit Plans As of July 3, 2020, the total accrued pension liability for underfunded plans was $133.5 million, of which the current portion of $0.3 million was classified as accrued expenses and other current liabilities. As of December 31, 2019, the total accrued pension liability for underfunded plans was $132.7 million, of which the current portion of $0.3 million was classified as accrued expenses and other current liabilities. The components of the net periodic pension expense were as follows (in millions):
| Quarters Ended |  |  |  | Six Months Ended |  |  |  |  |  |  |  |  |  |  |  |
| July 3, 2020 |  | June 28, 2019 |  | July 3, 2020 |  | June 28, 2019 |  |  |  |  |  |  |  |  |  |
Service cost | $ | 2.7 |  |  | $ | 2.4 |  |  | $ | 5.4 |  |  | $ | 4.7 |  |  |  |  |  |  |  |  |  |  |
Interest cost | 1.1 |  |  | 1.2 |  |  | 2.3 |  |  | 2.5 |  |  |  |  |  |  |  |  |  |  |
Expected return on plan assets | (1.5) |  |  | (1.5) |  |  | (3.1) |  |  | (3.0) |  |  |  |  |  |  |  |  |  |  |
Curtailment gain | (1.6) |  |  | — |  |  | (1.6) |  |  | — |  |  |  |  |  |  |  |  |  |  |
Total net periodic pension cost | $ | 0.7 |  |  | $ | 2.1 |  |  | $ | 3.0 |  |  | $ | 4.2 |  |  |  |  |  |  |  |  |  |  |
Leases Operating lease arrangements are comprised primarily of real estate and equipment agreements. The components of lease expense were as follows (in millions):
| Quarters Ended |  |  |  | Six Months Ended |  |  |
| July 3, 2020 |  | June 28, 2019 |  | July 3, 2020 |  | June 28, 2019 |
Operating lease | $ | 9.1 |  |  | $ | 8.3 |  |  | $ | 18.2 |  |  | $ | 16.6 |  |
Variable lease | 0.7 |  |  | 1.0 |  |  | 1.8 |  |  | 2.1 |  |
Short-term lease | 1.2 |  |  | 0.6 |  |  | 2.4 |  |  | 1.3 |  |
Total lease expense | $ | 11.0 |  |  | $ | 9.9 |  |  | $ | 22.4 |  |  | $ | 20.0 |  |
The lease liabilities recognized in the Consolidated Balance Sheets are as follows (in millions):
| As of |  |
| July 3, 2020 |  | December 31, 2019
Accrued expenses and other current liabilities | $ | 27.6 |  |  | $ | 26.1 |
Other long-term liabilities | 120.1 |  |  | 87.9 |
Total lease obligations | $ | 147.7 |  |  | $ | 114.0 |
Operating lease assets of $143.4 million and $110.2 million are included in other assets in the Consolidated Balance Sheets as of July 3, 2020 and December 31, 2019, respectively. As of July 3, 2020, the weighted-average remaining lease-term was 7.2 years and the weighted-average discount rate was 5.0%. Supplemental Disclosure of Cash Flow Information Certain of the Company's cash and non-cash activities were as follows (in millions):
|  | Six Months Ended |  |  |  |  |
|  | July 3, 2020 |  | June 28, 2019 |  |  |
Non-cash investing activities: |  |  |  |  |  |  |
Capital expenditures in accounts payable and other long-term liabilities |  | $ | 152.8 |  |  | $ | 173.0 |  |  |  |
Sale of property in exchange of note receivable |  | 4.7 |  |  | $ | — |  |  |  |
Right-of-use assets obtained in exchange of lease liabilities |  | 49.0 |  |  | 4.8 |  |  |  |
Non-cash financing activity: |  |  |  |  |  |  |
Liability incurred for purchase of business |  | $ | — |  |  | $ | 38.9 |  |  |  |
Cash (received) paid for: |  |  |  |  |  |  |
Interest income |  | $ | (3.4) |  |  | $ | (3.0) |  |  |  |
Interest expense |  | 58.4 |  |  | 40.3 |  |  |  |
Income taxes |  | 15.5 |  |  | 32.1 |  |  |  |
Operating lease payments in operating cash flows |  | 18.3 |  |  | 17.5 |  |  |  |
Reconciliation of the captions in the Consolidated Balance Sheets to the Consolidated Statements of Cash Flows (in millions):
|  | As of |  |  |  |  |  |
|  | July 3, 2020 |  | December 31, 2019 |  | June 28, 2019 |  | December 31, 2018
Consolidated Balance Sheets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2,060.4 |  |  | $ | 894.2 |  |  | $ | 885.2 |  |  | $ | 1,069.6 |
Restricted cash (included in other current assets) |  | 0.3 |  |  | — |  |  | 13.9 |  |  | 17.5 |
Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows |  | $ | 2,060.7 |  |  | $ | 894.2 |  |  | $ | 899.1 |  |  | $ | 1,087.1 |
The restricted cash balance through June 28, 2019, which included the consideration held in escrow for the acquisition of Aptina in 2014, was released during the year ended December 31, 2019 upon satisfaction of certain outstanding items contained in the merger agreement for such acquisition.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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