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Leases
 9 Months Ended
Sep. 28, 2024
Leases [Abstract]  
Leases Leases
We primarily lease certain manufacturing plants, offices, warehouses, training and service centers at various locations worldwide that are classified as either operating or finance leases. Our leases have remaining lease terms up to 24 years, which include options to extend the lease term for periods up to 20 years when it is reasonably certain the option will be exercised.
Operating lease expense totaled $19 million and $18 million in the third quarter of 2024 and 2023, respectively, and $55 million and $52 million in the first nine months of 2024 and 2023, respectively. Cash paid for operating leases approximated the lease expense and is classified in cash flows from operating activities. Noncash transactions related to operating leases totaled $36 million and $32 million in the first nine months of 2024 and 2023, respectively, reflecting new or extended leases. In the first nine months of 2024, non-cash transactions included the recognition of a $72 million asset and liability related to a new finance lease that matures in 2028. Finance lease, variable and short-term lease costs were not significant.
Balance sheet and other information related to our leases is as follows:
(Dollars in millions)September 28,
2024		December 30,
2023
Operating leases:
Other assets$365$371
Other current liabilities5855
Other liabilities318326
Weighted-average remaining lease term (in years)9.810.3
Weighted-average discount rate4.78%4.70%
Finance leases:
Property, plant and equipment, less accumulated amortization
  of $8 million and $8 million, respectively
$89$20
Long-term debt, including current portion9023
Weighted-average remaining lease term (in years)5.114.9
Weighted-average discount rate6.45%4.55%
At September 28, 2024, maturities of our operating lease liabilities on an undiscounted basis totaled $20 million for the remainder of 2024, $69 million for 2025, $55 million for 2026, $46 million for 2027, $44 million for 2028 and $246 million thereafter.
Leases Leases
We primarily lease certain manufacturing plants, offices, warehouses, training and service centers at various locations worldwide that are classified as either operating or finance leases. Our leases have remaining lease terms up to 24 years, which include options to extend the lease term for periods up to 20 years when it is reasonably certain the option will be exercised.
Operating lease expense totaled $19 million and $18 million in the third quarter of 2024 and 2023, respectively, and $55 million and $52 million in the first nine months of 2024 and 2023, respectively. Cash paid for operating leases approximated the lease expense and is classified in cash flows from operating activities. Noncash transactions related to operating leases totaled $36 million and $32 million in the first nine months of 2024 and 2023, respectively, reflecting new or extended leases. In the first nine months of 2024, non-cash transactions included the recognition of a $72 million asset and liability related to a new finance lease that matures in 2028. Finance lease, variable and short-term lease costs were not significant.
Balance sheet and other information related to our leases is as follows:
(Dollars in millions)September 28,
2024		December 30,
2023
Operating leases:
Other assets$365$371
Other current liabilities5855
Other liabilities318326
Weighted-average remaining lease term (in years)9.810.3
Weighted-average discount rate4.78%4.70%
Finance leases:
Property, plant and equipment, less accumulated amortization
  of $8 million and $8 million, respectively
$89$20
Long-term debt, including current portion9023
Weighted-average remaining lease term (in years)5.114.9
Weighted-average discount rate6.45%4.55%
At September 28, 2024, maturities of our operating lease liabilities on an undiscounted basis totaled $20 million for the remainder of 2024, $69 million for 2025, $55 million for 2026, $46 million for 2027, $44 million for 2028 and $246 million thereafter.