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Leases | 12 Months Ended
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Dec. 29, 2024
Leases [Abstract] |
Leases | Leases The components of lease expense for the years ended December 29, 2024, and December 31, 2023 were as follows (in millions):
|  | December 29, 2024 |  | December 31, 2023
Amortization of right of use assets - finance leases |  | $ | 3.2 |  |  | $ | 3.1 |
Interest expense on lease liabilities - finance leases |  | 3.3 |  |  | 3.1 |
Operating lease cost (expense resulting from amortization of total lease payments) |  | 13.9 |  |  | 14.0 |
Short-term lease cost |  | 1.4 |  |  | 1.2 |
Variable lease cost (cost excluded from lease payments) |  | — |  |  | 0.1 |
Sublease income |  | (0.2) |  |  | — |
Total lease cost |  | $ | 21.6 |  |  | $ | 21.5 |
The components of leases on the balance sheet were as follows (in millions):
|  | December 29, 2024 |  | December 31, 2023
Operating Leases: |  |  |  |
Operating lease right-of-use assets |  | $ | 37.6 |  |  | $ | 45.7 |
Current portion of operating lease liabilities |  | $ | 11.3 |  |  | $ | 12.1 |
Operating lease liabilities, net of current portion |  | $ | 29.8 |  |  | $ | 37.8 |
Finance leases: |  |  |  |
Property, plant and equipment, net |  | $ | 57.6 |  |  | $ | 45.4 |
Other current liabilities |  | $ | 1.9 |  |  | $ | 1.3 |
Other long-term liabilities |  | $ | 64.4 |  |  | $ | 50.9 |
Cash paid for amounts included in the measurement of lease liabilities for the years ended December 29, 2024, and December 31, 2023 were as follows (in millions):
|  | December 29, 2024 |  | December 31, 2023 |
Finance lease - cash paid for interest |  |  | $ | 3.3 |  |  | $ | 3.1 |  |
Finance lease - financing cash flows |  |  | $ | 1.4 |  |  | $ | 1.5 |  |
Operating lease - operating cash flows (fixed payments) |  |  | $ | 14.3 |  |  | $ | 14.1 |  |
Other supplemental noncash information (in millions):
|  |  | December 29, 2024 |  | December 31, 2023
Operating lease liabilities arising from obtaining right-of-use assets |  | $ | 3.7 |  | $ | 12.1
Finance lease liabilities arising from obtaining right-of-use assets |  | $ | 15.4 |  | $ | 6.9
Weighted-average remaining lease term (in years): |  |  |  |  |
Operating leases |  |  | 4.03 |  | 4.59
Finance leases |  |  | 13.81 |  | 14.91
Weighted-average discount rate: |  |  |  |  |
Operating leases |  |  | 4.99 | % |  | 4.95 | %
Finance leases |  |  | 6.35 | % |  | 6.35 | %
The maturity of lease liabilities is (in millions):
| Operating Leases |  | Finance Leases
2025 | $ | 12.9 |  |  | $ | 5.4 |
2026 | 11.4 |  |  | 6.2 |
2027 | 10.0 |  |  | 6.3 |
2028 | 6.6 |  |  | 6.4 |
2029 | 2.6 |  |  | 6.5 |
Thereafter | 1.8 |  |  | 74.7 |
Total lease payments | 45.3 |  |  | 105.5 |
Less: imputed interest | (4.2) |  |  | (39.2) |
Total present value of lease liabilities | $ | 41.1 |  |  | $ | 66.3 |
Leases | Leases The components of lease expense for the years ended December 29, 2024, and December 31, 2023 were as follows (in millions):
|  | December 29, 2024 |  | December 31, 2023
Amortization of right of use assets - finance leases |  | $ | 3.2 |  |  | $ | 3.1 |
Interest expense on lease liabilities - finance leases |  | 3.3 |  |  | 3.1 |
Operating lease cost (expense resulting from amortization of total lease payments) |  | 13.9 |  |  | 14.0 |
Short-term lease cost |  | 1.4 |  |  | 1.2 |
Variable lease cost (cost excluded from lease payments) |  | — |  |  | 0.1 |
Sublease income |  | (0.2) |  |  | — |
Total lease cost |  | $ | 21.6 |  |  | $ | 21.5 |
The components of leases on the balance sheet were as follows (in millions):
|  | December 29, 2024 |  | December 31, 2023
Operating Leases: |  |  |  |
Operating lease right-of-use assets |  | $ | 37.6 |  |  | $ | 45.7 |
Current portion of operating lease liabilities |  | $ | 11.3 |  |  | $ | 12.1 |
Operating lease liabilities, net of current portion |  | $ | 29.8 |  |  | $ | 37.8 |
Finance leases: |  |  |  |
Property, plant and equipment, net |  | $ | 57.6 |  |  | $ | 45.4 |
Other current liabilities |  | $ | 1.9 |  |  | $ | 1.3 |
Other long-term liabilities |  | $ | 64.4 |  |  | $ | 50.9 |
Cash paid for amounts included in the measurement of lease liabilities for the years ended December 29, 2024, and December 31, 2023 were as follows (in millions):
|  | December 29, 2024 |  | December 31, 2023 |
Finance lease - cash paid for interest |  |  | $ | 3.3 |  |  | $ | 3.1 |  |
Finance lease - financing cash flows |  |  | $ | 1.4 |  |  | $ | 1.5 |  |
Operating lease - operating cash flows (fixed payments) |  |  | $ | 14.3 |  |  | $ | 14.1 |  |
Other supplemental noncash information (in millions):
|  |  | December 29, 2024 |  | December 31, 2023
Operating lease liabilities arising from obtaining right-of-use assets |  | $ | 3.7 |  | $ | 12.1
Finance lease liabilities arising from obtaining right-of-use assets |  | $ | 15.4 |  | $ | 6.9
Weighted-average remaining lease term (in years): |  |  |  |  |
Operating leases |  |  | 4.03 |  | 4.59
Finance leases |  |  | 13.81 |  | 14.91
Weighted-average discount rate: |  |  |  |  |
Operating leases |  |  | 4.99 | % |  | 4.95 | %
Finance leases |  |  | 6.35 | % |  | 6.35 | %
The maturity of lease liabilities is (in millions):
| Operating Leases |  | Finance Leases
2025 | $ | 12.9 |  |  | $ | 5.4 |
2026 | 11.4 |  |  | 6.2 |
2027 | 10.0 |  |  | 6.3 |
2028 | 6.6 |  |  | 6.4 |
2029 | 2.6 |  |  | 6.5 |
Thereafter | 1.8 |  |  | 74.7 |
Total lease payments | 45.3 |  |  | 105.5 |
Less: imputed interest | (4.2) |  |  | (39.2) |
Total present value of lease liabilities | $ | 41.1 |  |  | $ | 66.3 |

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- 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
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- 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
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