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Lease Receivable (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Sales-Type Lease Receivable
Lease receivable from sales-type leases consists of the following:
(in millions)December 31,
2022
January 2,
2021
Lease receivable$101.8 $102.6 
Allowance for credit loss(0.2)(0.3)
     Lease receivable, net101.6 102.3 
Less: current portion of lease receivable(28.5)(28.7)
     Lease receivable, non-current$73.1 $73.6 
Sales-Type Lease, Lease Receivable, Maturity
As of December 31, 2022, estimated future maturities of customer sales-type lease receivables and operating lease payments for each of the following fiscal years are as follows:
Future Lease Receivables/Payments
(in millions)
Fiscal YearSales-Type LeasesOperating Leases
2023$28.4 $3.8 
202425.1 3.5 
202519.9 3.5 
202613.5 3.3 
20277.9 2.7 
Thereafter6.8 3.7 
     Total$101.6 $20.5 
Less: imputed interest(1)
— 
     Present value of total lease payments$101.6 
______________
(1) The calculation of the rates implicit in the leases resulted in negative discount rates. Therefore, the Company as a lessor used a 0% discount rate to measure the net investment in the lease.