XML 31 R15.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases [Abstract] |
Leases | Leases The components of lease expense for the years ended December 31, 2023, and December 25, 2022 were as follows (in millions):
|  | December 31, 2023 |  | December 25, 2022
Amortization of right of use assets - finance leases |  | $ | 3.1 |  |  | $ | 2.9 |
Interest expense on lease liabilities - finance leases |  | 3.1 |  |  | 3.0 |
Operating lease cost (expense resulting from amortization of total lease payments) |  | 14.0 |  |  | 12.9 |
Short-term lease cost |  | 1.2 |  |  | 0.8 |
Variable lease cost (cost excluded from lease payments) |  | 0.1 |  |  | 0.1 |
Sublease income |  | — |  |  | — |
Total lease cost |  | $ | 21.5 |  |  | $ | 19.7 |
The components of leases on the balance sheet were as follows (in millions):
|  | December 31, 2023 |  | December 25, 2022
Operating Leases: |  |  |  |
Operating lease right-of-use assets |  | $ | 45.7 |  |  | $ | 47.4 |
Current portion of operating lease liabilities |  | $ | 12.1 |  |  | $ | 10.8 |
Operating lease liabilities, net of current portion |  | $ | 37.8 |  |  | $ | 40.8 |
Finance leases: |  |  |  |
Property, plant and equipment, net |  | $ | 45.4 |  |  | $ | 45.8 |
Other current liabilities |  | $ | 1.3 |  |  | $ | 1.7 |
Other long-term liabilities |  | $ | 50.9 |  |  | $ | 49.9 |
Cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2023, and December 25, 2022 were as follows (in millions):
|  | December 31, 2023 |  | December 25, 2022 |
Finance lease - cash paid for interest |  |  | $ | 3.1 |  |  | $ | 3.0 |  |
Finance lease - financing cash flows |  |  | $ | 1.5 |  |  | $ | 1.4 |  |
Operating lease - operating cash flows (fixed payments) |  |  | $ | 14.1 |  |  | $ | 13.3 |  |
Other supplemental noncash information (in millions):
|  |  | December 31, 2023 |  | December 25, 2022
Operating lease liabilities arising from obtaining right-of-use assets |  | $ | 12.1 |  | $ | 20.1
Finance lease liabilities arising from obtaining right-of-use assets |  | $ | 6.9 |  | $ | 9.1
Weighted-average remaining lease term (in years): |  |  |  |  |
Operating leases |  |  | 4.59 |  | 5.14
Finance leases |  |  | 14.91 |  | 15.20
Weighted-average discount rate: |  |  |  |  |
Operating leases |  |  | 4.95 | % |  | 4.92 | %
Finance leases |  |  | 6.35 | % |  | 6.02 | %
The maturity of lease liabilities is (in millions):
| Operating Leases |  | Finance Leases
2024 | $ | 14.1 |  |  | $ | 4.6 |
2025 | 12.0 |  |  | 4.8 |
2026 | 10.2 |  |  | 5.0 |
2027 | 9.5 |  |  | 5.1 |
2028 | 6.4 |  |  | 5.2 |
Thereafter | 3.5 |  |  | 58.0 |
Total lease payments | 55.7 |  |  | 82.7 |
Less: imputed interest | (5.8) |  |  | (30.5) |
Total present value of lease liabilities | $ | 49.9 |  |  | $ | 52.2 |
Leases | Leases The components of lease expense for the years ended December 31, 2023, and December 25, 2022 were as follows (in millions):
|  | December 31, 2023 |  | December 25, 2022
Amortization of right of use assets - finance leases |  | $ | 3.1 |  |  | $ | 2.9 |
Interest expense on lease liabilities - finance leases |  | 3.1 |  |  | 3.0 |
Operating lease cost (expense resulting from amortization of total lease payments) |  | 14.0 |  |  | 12.9 |
Short-term lease cost |  | 1.2 |  |  | 0.8 |
Variable lease cost (cost excluded from lease payments) |  | 0.1 |  |  | 0.1 |
Sublease income |  | — |  |  | — |
Total lease cost |  | $ | 21.5 |  |  | $ | 19.7 |
The components of leases on the balance sheet were as follows (in millions):
|  | December 31, 2023 |  | December 25, 2022
Operating Leases: |  |  |  |
Operating lease right-of-use assets |  | $ | 45.7 |  |  | $ | 47.4 |
Current portion of operating lease liabilities |  | $ | 12.1 |  |  | $ | 10.8 |
Operating lease liabilities, net of current portion |  | $ | 37.8 |  |  | $ | 40.8 |
Finance leases: |  |  |  |
Property, plant and equipment, net |  | $ | 45.4 |  |  | $ | 45.8 |
Other current liabilities |  | $ | 1.3 |  |  | $ | 1.7 |
Other long-term liabilities |  | $ | 50.9 |  |  | $ | 49.9 |
Cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2023, and December 25, 2022 were as follows (in millions):
|  | December 31, 2023 |  | December 25, 2022 |
Finance lease - cash paid for interest |  |  | $ | 3.1 |  |  | $ | 3.0 |  |
Finance lease - financing cash flows |  |  | $ | 1.5 |  |  | $ | 1.4 |  |
Operating lease - operating cash flows (fixed payments) |  |  | $ | 14.1 |  |  | $ | 13.3 |  |
Other supplemental noncash information (in millions):
|  |  | December 31, 2023 |  | December 25, 2022
Operating lease liabilities arising from obtaining right-of-use assets |  | $ | 12.1 |  | $ | 20.1
Finance lease liabilities arising from obtaining right-of-use assets |  | $ | 6.9 |  | $ | 9.1
Weighted-average remaining lease term (in years): |  |  |  |  |
Operating leases |  |  | 4.59 |  | 5.14
Finance leases |  |  | 14.91 |  | 15.20
Weighted-average discount rate: |  |  |  |  |
Operating leases |  |  | 4.95 | % |  | 4.92 | %
Finance leases |  |  | 6.35 | % |  | 6.02 | %
The maturity of lease liabilities is (in millions):
| Operating Leases |  | Finance Leases
2024 | $ | 14.1 |  |  | $ | 4.6 |
2025 | 12.0 |  |  | 4.8 |
2026 | 10.2 |  |  | 5.0 |
2027 | 9.5 |  |  | 5.1 |
2028 | 6.4 |  |  | 5.2 |
Thereafter | 3.5 |  |  | 58.0 |
Total lease payments | 55.7 |  |  | 82.7 |
Less: imputed interest | (5.8) |  |  | (30.5) |
Total present value of lease liabilities | $ | 49.9 |  |  | $ | 52.2 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration