XML 63 R27.htm IDEA: XBRL DOCUMENT v3.20.1
Leases (Tables)
 3 Months Ended
Mar. 29, 2020
Leases [Abstract]  
Schedule of lease cost
The components of lease expense were as follows (in millions):
 
Three Months Ended
 
March 29, 2020
 
March 31, 2019
Amortization of right of use assets - finance leases
$
0.5

 
$
0.5

Interest on lease liabilities - finance leases
0.6

 
0.6

Operating lease cost (cost resulting from lease payments)
3.5

 
3.0

Short-term lease cost
0.2

 
0.1

Variable lease cost (cost excluded from lease payments)
—

 
—

Sublease income
(0.8
)
 
(0.8
)
Total lease cost
$
4.0

 
$
3.4

 
 
 
 

Cash paid for amounts included in the measurement of lease liabilities was as follows (in millions):
 
Three Months Ended
 
March 29, 2020
 
March 31, 2019
Finance lease - cash paid for interest
$
0.6

 
$
0.6

Finance lease - financing cash flows
$
0.1

 
$
0.1

Operating lease - operating cash flows (fixed payments)
$
4.1

 
$
3.3


Other supplemental noncash information (in millions):
 
Three Months Ended
 
March 29, 2020
 
March 31, 2019
Operating lease liabilities arising from obtaining right-of-use assets, including impact of ASC 842 adoption
$
0.5

 
$
41.2

Finance lease liabilities arising from obtaining right-of-use assets, including impact of ASC 842 adoption
$
0.4

 
$
39.6

 
 
 
 
Weighted-average remaining lease term (in years):
 
 
 
Operating leases
5.74

 
5.10

Finance leases
18.67

 
19.60

 
 
 
 
Weighted-average discount rate:
 
 
 
Operating leases
6.50
%
 
6.50
%
Finance leases
6.52
%
 
6.53
%
Balance sheet information
The components of leases on the balance sheet were as follows (in millions):
 
March 29, 2020
 
December 29, 2019
Operating Leases:
 
 
 
Operating lease right-of-use assets
$
39.8

 
$
42.1

Current portion of operating lease liabilities
$
8.7

 
$
9.9

Operating lease liabilities, net of current portion
$
36.0

 
$
37.6

Finance leases:
 
 
 
Property, plant and equipment, net
$
37.9

 
$
38.1

Other current liabilities
$
0.7

 
$
0.6

Other long-term liabilities
$
38.6

 
$
38.4
Maturities of operating lease liabilities
The maturity of lease liabilities is (in millions):
 
Operating Leases
 
Finance Leases
2020 (1)
$
8.6

 
$
2.4

2021
10.1

 
3.2

2022
8.7

 
3.3

2023
8.3

 
3.4

2024
6.3

 
3.3

Thereafter
11.6

 
54.5

Total lease payments
53.6

 
70.1

Less: imputed interest
(8.9
)
 
(30.8
)
Total present value of lease liabilities
$
44.7

 
$
39.3

(1) Excludes the three months ended March 29, 2020.
 
 
 
Maturities of financing lease liabilities
The maturity of lease liabilities is (in millions):
 
Operating Leases
 
Finance Leases
2020 (1)
$
8.6

 
$
2.4

2021
10.1

 
3.2

2022
8.7

 
3.3

2023
8.3

 
3.4

2024
6.3

 
3.3

Thereafter
11.6

 
54.5

Total lease payments
53.6

 
70.1

Less: imputed interest
(8.9
)
 
(30.8
)
Total present value of lease liabilities
$
44.7

 
$
39.3

(1) Excludes the three months ended March 29, 2020.