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Leases | 12 Months Ended
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Mar. 28, 2020
Lessee Disclosure [Abstract] |
Leases | Leases The following table summarizes ROU assets and lease liabilities recorded on the Company's consolidated balance sheet as of March 28, 2020:
|  | March 28, 2020 |  | Location Recorded on Balance Sheet
|  | (millions) |  |
Assets: |  |  |  |
Operating leases |  | $ | 1,511.6 |  |  | Operating lease right-of-use assets
Finance leases |  | 166.4 |  |  | Property and equipment, net
Total lease assets |  | $ | 1,678.0 |  |  |
Liabilities: |  |  |  |
Operating leases: |  |  |  |
Current portion |  | $ | 288.4 |  |  | Current operating lease liabilities
Non-current portion |  | 1,568.3 |  |  | Long-term operating lease liabilities
Total operating lease liabilities |  | 1,856.7 |  |  |
Finance leases: |  |  |  |
Current portion |  | 9.8 |  |  | Accrued expenses and other current liabilities
Non-current portion |  | 189.4 |  |  | Other non-current liabilities
Total finance lease liabilities |  | 199.2 |  |  |
Total lease liabilities |  | $ | 2,055.9 |  |  |
The following table summarizes the composition of net lease cost during Fiscal 2020:
|  | Fiscal Year Ended |  |
|  | March 28, 2020 |  | Location Recorded in Earnings
Operating lease cost |  | $ | 322.0 |  |  | (a)
Finance lease costs: |  |  |  |
Depreciation of leased assets |  | 18.1 |  |  | SG&A expenses
Accretion of lease liabilities |  | 8.1 |  |  | Interest expense
Variable lease cost |  | 298.0 |  |  | (b)
Short-term lease cost |  | 5.5 |  |  | SG&A expenses
Sublease income |  | (2.9 | ) |  | Restructuring and other charges
Total lease cost |  | $ | 648.8 |  |  |
(a) | $4.4 million included within cost of goods sold, $307.3 million included within SG&A expenses, and $10.3 million included within restructuring and other charges.
(b) | $4.7 million included within cost of goods sold, $290.3 million included within SG&A expenses, and $3.0 million included within restructuring and other charges.
In accordance with lease accounting guidance in effect prior to its adoption of ASU 2016-02, during Fiscal 2019 and Fiscal 2018, the Company recognized rent expense of approximately $449.3 million and $443.1 million, respectively, net of insignificant sublease income, related to its operating leases, which included contingent rental charges of approximately $192.0 million and $175.9 million, respectively. Such amounts do not include expense recognized related to non-lease components. The following table summarizes certain cash flow information related to the Company's leases during Fiscal 2020:
|  | Fiscal Year Ended
|  | March 28, 2020
|  | (millions)
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases |  | $ | 383.9 |
Operating cash flows from finance leases |  | 8.0 |
Financing cash flows from finance leases |  | 13.6 |
See Note 21 for supplemental non-cash information related to ROU assets obtained in exchange for new lease liabilities. The following table presents a maturity analysis summary of the Company's lease liabilities recorded on the consolidated balance sheet as of March 28, 2020:
|  | March 28, 2020
|  | Operating Leases |  | Finance Leases
|  | (millions)
Fiscal 2021 |  | $ | 323.6 |  |  | $ | 16.0 |
Fiscal 2022 |  | 325.4 |  |  | 22.6 |
Fiscal 2023 |  | 292.6 |  |  | 22.3 |
Fiscal 2024 |  | 259.2 |  |  | 22.3 |
Fiscal 2025 |  | 206.8 |  |  | 22.3 |
Fiscal 2026 and thereafter |  | 615.7 |  |  | 153.8 |
Total lease payments |  | 2,023.3 |  |  | 259.3 |
Less: interest |  | (166.6 | ) |  | (60.1 | )
Total lease liabilities |  | $ | 1,856.7 |  |  | $ | 199.2 |
Additionally, the Company has approximately $119 million of future payment obligations related to executed lease agreements for which the related lease terms had not yet commenced as of March 28, 2020. The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's operating and finance leases recorded on the consolidated balance sheet as of March 28, 2020:
|  | March 28, 2020
|  | Operating Leases |  | Finance Leases
Weighted-average remaining lease term (years) |  | 7.6 |  |  | 12.7 |
Weighted-average discount rate |  | 2.1 | % |  | 4.1 | %
See Note 3 for discussion of the Company's accounting policies related to its leasing activities.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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- References No definition available. + Details
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