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Leases (Tables) | 9 Months Ended
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Sep. 29, 2024
Leases [Abstract] |
Schedule of Lease Cost | The components of lease expense were as follows (in millions):
| Three Months Ended |  | Nine Months Ended
| September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
Amortization of right of use assets - finance leases | $ | 0.8 |  |  | $ | 0.8 |  |  | $ | 2.4 |  |  | $ | 2.3 |
Interest on lease liabilities - finance leases | 0.9 |  |  | 0.8 |  |  | 2.5 |  |  | 2.3 |
Operating lease cost | 3.4 |  |  | 3.7 |  |  | 10.5 |  |  | 10.4 |
Short-term lease cost | 0.4 |  |  | 0.3 |  |  | 1.0 |  |  | 0.8 |
Variable lease cost (cost excluded from lease payments) | — |  |  | — |  |  | — |  |  | 0.1 |
Sublease income | — |  |  | — |  |  | (0.1) |  |  | — |
Total lease cost | $ | 5.5 |  |  | $ | 5.6 |  |  | $ | 16.3 |  |  | $ | 15.9 |
Cash paid for amounts included in the measurement of lease liabilities was as follows (in millions):
| Three Months Ended |  | Nine Months Ended
| September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
Finance lease - cash paid for interest | $ | 0.9 |  |  | $ | 0.8 |  |  | $ | 2.5 |  |  | $ | 2.3 |
Finance lease - financing cash flows | $ | 0.3 |  |  | $ | 0.4 |  |  | $ | 1.0 |  |  | $ | 1.2 |
Operating lease - operating cash flows (fixed payments) | $ | 3.4 |  |  | $ | 3.7 |  |  | $ | 10.6 |  |  | $ | 10.3 |
Other supplemental noncash information (in millions):
| Three Months Ended |  | Nine Months Ended
| September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
Operating lease liabilities arising from obtaining right-of-use assets | $ | 0.6 |  |  | $ | 5.4 |  |  | $ | 2.9 |  |  | $ | 11.8 |
Finance lease liabilities arising from obtaining right-of-use assets | $ | — |  |  | $ | — |  |  | $ | 16.8 |  |  | $ | 0.1 |
|  |  |  |  | September 29, 2024 |  | October 1, 2023
Weighted-average remaining lease term (in years): |  |  |  |  |  |
Operating leases |  |  |  |  | 4.24 |  | 4.75
Finance leases |  |  |  |  | 14.06 |  | 14.80
Weighted-average discount rate: |  |  |  |  |  |  |
Operating leases |  |  |  |  | 5.00 | % |  | 5.04 | %
Finance leases |  |  |  |  | 6.35 | % |  | 6.41 | %
Schedule of Balance Sheet Information | The components of leases on the balance sheet were as follows (in millions):
| September 29, 2024 |  | December 31, 2023
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 39.9 |  |  | $ | 45.7 |
Current portion of operating lease liabilities | $ | 11.6 |  |  | $ | 12.1 |
Operating lease liabilities, net of current portion | $ | 32.2 |  |  | $ | 37.8 |
Finance leases: |  |  |
Property, plant and equipment, net | $ | 59.8 |  |  | $ | 45.4 |
Other current liabilities | $ | 1.8 |  |  | $ | 1.3 |
Other long-term liabilities | $ | 66.2 |  |  | $ | 50.9 |
Schedule of Maturities of Operating Lease Liabilities | The maturity of lease liabilities is (in millions):
| Operating Leases |  | Finance Leases
2024 (1) | $ | 3.8 |  |  | $ | 2.3 |
2025 | 12.6 |  |  | 6.0 |
2026 | 11.1 |  |  | 6.3 |
2027 | 9.9 |  |  | 6.5 |
2028 | 6.6 |  |  | 6.6 |
Thereafter | 4.5 |  |  | 81.5 |
Total lease payments | 48.5 |  |  | 109.2 |
Less: imputed interest | (4.7) |  |  | (41.2) |
Total present value of lease liabilities | $ | 43.8 |  |  | $ | 68.0 |
(1) Excludes the nine months ended September 29, 2024. |  |  |
Schedule of Maturities of Financing Lease Liabilities | The maturity of lease liabilities is (in millions):
| Operating Leases |  | Finance Leases
2024 (1) | $ | 3.8 |  |  | $ | 2.3 |
2025 | 12.6 |  |  | 6.0 |
2026 | 11.1 |  |  | 6.3 |
2027 | 9.9 |  |  | 6.5 |
2028 | 6.6 |  |  | 6.6 |
Thereafter | 4.5 |  |  | 81.5 |
Total lease payments | 48.5 |  |  | 109.2 |
Less: imputed interest | (4.7) |  |  | (41.2) |
Total present value of lease liabilities | $ | 43.8 |  |  | $ | 68.0 |
(1) Excludes the nine months ended September 29, 2024. |  |  |

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