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v3.22.1

Leases (Tables) | 3 Months Ended
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Mar. 27, 2022
Leases [Abstract] |
Schedule of Information Related to Leases | Information related to the Company’s leases for the quarters ended March 27, 2022 and March 28, 2021 are as follows:
| Quarter Ended |  |
| March 27, 2022 |  | March 28, 2021 |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 13.4 |  |  | $ | 13.2 |  |  |  |  |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |
Operating leases | $ | 9.1 |  |  | $ | 7.3 |  |  |  |  |
Weighted Average Remaining Lease Term |  |  |  |  |  |  |
Operating leases | 5.4 years |  | 5.9 years |  |  |  |
Weighted Average Discount Rate |  |  |  |  |  |  |
Operating leases | 2.9 | % |  | 3.1 | % |  |  |  |
Reconciliation of Future Undiscounted Cash Flows | The following is a reconciliation of future undiscounted cash flows to the operating liabilities, and the related right of use assets, included in our Consolidated Balance Sheets as of March 27, 2022:
| March 27, 2022
2022 (excluding the three months ended March 27, 2022) | $ | 38.5 |
2023 | 44.3 |
2024 | 31.9 |
2025 | 26.1 |
2026 | 20.3 |
2027 and thereafter | 33.4 |
Total future lease payments | 194.5 |
Less imputed interest | 21.2 |
Present value of future operating lease payments | 173.3 |
Less current portion of operating lease liabilities (1) | 45.0 |
Non-current operating lease liability (2) | 128.3 |
Operating lease right-of-use assets, net (3) | $ | 156.7 |
(1) Included in Accrued liabilities on the consolidated balance sheets. (2) Included in Other liabilities on the consolidated balance sheets. (3) Included in Property, plant, and equipment on the consolidated balance sheets.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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