Leases

12 Months Ended

Dec. 28, 2024

7. Leases

We have operating and finance leases for buildings and certain machinery and equipment. Operating leases are included in operating lease assets, other current liabilities and operating lease liabilities in our consolidated balance sheets. Amounts recognized for finance leases as of and for the years ended December 28, 2024 and December 30, 2023 were immaterial.

Operating lease expense recognized in the consolidated statement of comprehensive income for 2024, 2023 and 2022 were $46.1 million, $42.1 million and $37.4 million, respectively.

Other information related to leases was as follows:


(In millions, except lease term and discount rate)	December 28, 2024			December 30, 2023			December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	43.1		$	36.5		$	35.1
Right-of-use assets obtained in exchange for operating lease obligations	$	14.0		$	87.1		$	21.6
Weighted average remaining lease term - operating leases	6.1 years			6.7 years			5.6 years
Weighted average discount rate - operating leases		5.0	%		4.1	%		3.6	%

Future lease payments under non-cancelable operating leases as of December 28, 2024 were as follows:


(In millions)

2025	$	38.6
2026		33.7
2027		26.0
2028		21.0
2029		16.6
Thereafter		44.7
Total lease payments		180.6
Less imputed interest		(27.5	)
Total	$	153.1
Reported as of December 28, 2024
Other current liabilities	$	31.5
Operating lease liabilities		121.6
Total	$	153.1