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Lease Receivable (Tables)
3 Months Ended
Apr. 01, 2023
Leases [Abstract]  
Sale-Type Lease Receivable
Lease receivable from sales-type leases consists of the following:
(in millions)April 1,
2023
December 31,
2022
Lease receivable$112.6 $101.8 
Allowance for credit loss(0.3)(0.2)
     Lease receivable, net112.3 101.6 
Less: current portion of lease receivable(30.4)(28.5)
     Lease receivable, non-current$81.9 $73.1 
Sales-type Lease, Lease Receivable, Maturity
As of April 1, 2023, 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 (balance of year)$23.1 $5.1 
202428.1 5.8 
202522.8 5.1 
202616.6 4.6 
202710.6 3.6 
Thereafter11.1 4.5 
     Total$112.3 $28.7 
Less: imputed interest(1)
— 
     Present value of total lease payments$112.3 
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(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.