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Leases | 12 Months Ended
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Dec. 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 cost totaled $74 million, $69 million and $69 million in 2024, 2023 and 2022, respectively. Cash paid for operating lease liabilities approximated the lease expense and is classified in cash flows from operating activities. Noncash transactions related to operating leases totaled $49 million, $54 million and $58 million in 2024, 2023 and 2022, respectively, reflecting the recognition of operating lease assets and liabilities for new or extended leases. In 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) | December 28, 2024 | December 30, 2023
Operating leases: |  |
Other assets | $ | 360 |  | $ | 371 |
Other current liabilities | 55 |  | 55 |
Other liabilities | 316 |  | 326 |
Weighted-average remaining lease term (in years) | 10.0 | 10.3
Weighted-average discount rate | 4.84% | 4.70%
Finance leases: |  |
Property, plant and equipment, less accumulated amortization of $9 million and $8 million, respectively | $ | 95 |  | $ | 20 |
Long-term debt, including current portion | 97 |  | 23 |
Weighted-average remaining lease term (in years) | 5.9 | 14.9
Weighted-average discount rate | 6.72% | 4.55%
At December 28, 2024, maturities of our operating lease liabilities on an undiscounted basis totaled $69 million for 2025, $56 million for 2026, $47 million for 2027, $45 million for 2028, $40 million for 2029 and $220 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 cost totaled $74 million, $69 million and $69 million in 2024, 2023 and 2022, respectively. Cash paid for operating lease liabilities approximated the lease expense and is classified in cash flows from operating activities. Noncash transactions related to operating leases totaled $49 million, $54 million and $58 million in 2024, 2023 and 2022, respectively, reflecting the recognition of operating lease assets and liabilities for new or extended leases. In 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) | December 28, 2024 | December 30, 2023
Operating leases: |  |
Other assets | $ | 360 |  | $ | 371 |
Other current liabilities | 55 |  | 55 |
Other liabilities | 316 |  | 326 |
Weighted-average remaining lease term (in years) | 10.0 | 10.3
Weighted-average discount rate | 4.84% | 4.70%
Finance leases: |  |
Property, plant and equipment, less accumulated amortization of $9 million and $8 million, respectively | $ | 95 |  | $ | 20 |
Long-term debt, including current portion | 97 |  | 23 |
Weighted-average remaining lease term (in years) | 5.9 | 14.9
Weighted-average discount rate | 6.72% | 4.55%
At December 28, 2024, maturities of our operating lease liabilities on an undiscounted basis totaled $69 million for 2025, $56 million for 2026, $47 million for 2027, $45 million for 2028, $40 million for 2029 and $220 million thereafter.

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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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