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COMMITMENTS AND LEASES | 12 Months Ended
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Dec. 30, 2023
Leases [Abstract] |
COMMITMENTS AND LEASES | COMMITMENTS AND LEASES Supplemental cost information related to leases is shown below.
(In millions) |  | 2023 |  | 2022 |  | 2021
Operating lease costs |  | $ | 73.6 |  |  | $ | 70.8 |  |  | $ | 68.8 |
Lease costs related to finance leases were not material in 2023, 2022 or 2021. Supplemental balance sheet information related to leases is shown below.
(In millions) |  | Balance Sheet Location |  | 2023 |  | 2022
Assets |  |  |  |  |  |
Operating |  | Other assets |  | $ | 200.2 |  |  | $ | 161.7 |
Finance(1) |  | Property, plant and equipment, net |  | 29.6 |  |  | 27.5 |
Total leased assets |  |  |  | $ | 229.8 |  |  | $ | 189.2 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 45.4 |  |  | $ | 42.4 |
Finance |  | Short-term borrowings and current portion of long-term debt and finance leases |  | 6.3 |  |  | 5.4 |
Non-current: |  |  |  |  |  |
Operating |  | Long-term retirement benefits and other liabilities |  | 152.3 |  |  | 113.6 |
Finance |  | Long-term debt and finance leases |  | 7.0 |  |  | 8.2 |
Total lease liabilities |  |  |  | $ | 211.0 |  |  | $ | 169.6 |
(1) | Finance lease assets are net of accumulated amortization of $14.6 million and $12.4 million as of December 30, 2023 and December 31, 2022, respectively.
Supplemental cash flow information related to leases is shown below.
(In millions) |  | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in measurement of operating lease liabilities |  | $ | 55.8 |  |  | $ | 60.5 |  |  | $ | 54.2 |
Operating lease assets obtained in exchange for operating lease liabilities |  | 92.4 |  |  | 37.2 |  |  | 58.0 |
Cash flows related to finance leases were not material in 2023, 2022 or 2021. Weighted average remaining lease term and discount rate information related to leases as of December 30, 2023 and December 31, 2022 is shown below.
|  | 2023 |  | 2022
Weighted average remaining lease term (in years): |  |  |  |
Operating |  | 7.1 |  | 5.9
Finance |  | 3.1 |  | 2.7
Weighted average discount rate (percentage): |  |  |  |
Operating |  | 4.1 | % |  | 3.2 | %
Finance |  | 4.2 |  |  | 2.8 |
Operating and finance lease liabilities by maturity date from December 30, 2023 are shown below.
(In millions) |  | Operating Leases |  | Finance Leases
2024 |  | $ | 50.3 |  |  | $ | 6.9 |
2025 |  | 41.0 |  |  | 3.5 |
2026 |  | 32.4 |  |  | 1.9 |
2027 |  | 23.0 |  |  | 1.3 |
2028 |  | 15.1 |  |  | .6 |
2029 and thereafter |  | 69.5 |  |  | .6 |
Total lease payments |  | 231.3 |  |  | 14.8 |
Less: imputed interest |  | (33.6) |  |  | (1.5) |
Present value of lease liabilities |  | $ | 197.7 |  |  | $ | 13.3 |
As of December 30, 2023, we had no significant operating or finance leases that had not yet commenced.
COMMITMENTS AND LEASES | COMMITMENTS AND LEASES Supplemental cost information related to leases is shown below.
(In millions) |  | 2023 |  | 2022 |  | 2021
Operating lease costs |  | $ | 73.6 |  |  | $ | 70.8 |  |  | $ | 68.8 |
Lease costs related to finance leases were not material in 2023, 2022 or 2021. Supplemental balance sheet information related to leases is shown below.
(In millions) |  | Balance Sheet Location |  | 2023 |  | 2022
Assets |  |  |  |  |  |
Operating |  | Other assets |  | $ | 200.2 |  |  | $ | 161.7 |
Finance(1) |  | Property, plant and equipment, net |  | 29.6 |  |  | 27.5 |
Total leased assets |  |  |  | $ | 229.8 |  |  | $ | 189.2 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 45.4 |  |  | $ | 42.4 |
Finance |  | Short-term borrowings and current portion of long-term debt and finance leases |  | 6.3 |  |  | 5.4 |
Non-current: |  |  |  |  |  |
Operating |  | Long-term retirement benefits and other liabilities |  | 152.3 |  |  | 113.6 |
Finance |  | Long-term debt and finance leases |  | 7.0 |  |  | 8.2 |
Total lease liabilities |  |  |  | $ | 211.0 |  |  | $ | 169.6 |
(1) | Finance lease assets are net of accumulated amortization of $14.6 million and $12.4 million as of December 30, 2023 and December 31, 2022, respectively.
Supplemental cash flow information related to leases is shown below.
(In millions) |  | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in measurement of operating lease liabilities |  | $ | 55.8 |  |  | $ | 60.5 |  |  | $ | 54.2 |
Operating lease assets obtained in exchange for operating lease liabilities |  | 92.4 |  |  | 37.2 |  |  | 58.0 |
Cash flows related to finance leases were not material in 2023, 2022 or 2021. Weighted average remaining lease term and discount rate information related to leases as of December 30, 2023 and December 31, 2022 is shown below.
|  | 2023 |  | 2022
Weighted average remaining lease term (in years): |  |  |  |
Operating |  | 7.1 |  | 5.9
Finance |  | 3.1 |  | 2.7
Weighted average discount rate (percentage): |  |  |  |
Operating |  | 4.1 | % |  | 3.2 | %
Finance |  | 4.2 |  |  | 2.8 |
Operating and finance lease liabilities by maturity date from December 30, 2023 are shown below.
(In millions) |  | Operating Leases |  | Finance Leases
2024 |  | $ | 50.3 |  |  | $ | 6.9 |
2025 |  | 41.0 |  |  | 3.5 |
2026 |  | 32.4 |  |  | 1.9 |
2027 |  | 23.0 |  |  | 1.3 |
2028 |  | 15.1 |  |  | .6 |
2029 and thereafter |  | 69.5 |  |  | .6 |
Total lease payments |  | 231.3 |  |  | 14.8 |
Less: imputed interest |  | (33.6) |  |  | (1.5) |
Present value of lease liabilities |  | $ | 197.7 |  |  | $ | 13.3 |
As of December 30, 2023, we had no significant operating or finance leases that had not yet commenced.

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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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