Leases

12 Months Ended

Dec. 27, 2025

. 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 27, 2025 and December 28, 2024 were immaterial.

Operating lease expense recognized in the Consolidated Statement of Comprehensive Income for 2025, 2024 and 2023 were $61.8 million, $46.1 million and $42.1 million, respectively.

Other information related to leases was as follows:


(In millions, except lease term and discount rate)	December 27, 2025			December 28, 2024			December 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	56.7		$	43.1		$	36.5
Right-of-use assets obtained in exchange for operating lease obligations	$	159.0		$	14.0		$	87.1
Weighted average remaining lease term - operating leases	10.2 years			6.1 years			6.7 years
Weighted average discount rate - operating leases		5.3	%		5.0	%		4.1	%

Future lease payments under non-cancelable operating leases as of December 27, 2025 were as follows:


(In millions)

2026	$	37.3
2027		41.2
2028		37.5
2029		31.8
2030		28.8
Thereafter		195.3
Total lease payments		371.9
Less imputed interest		(98.2	)
Total	$	273.7
Reported as of December 27, 2025
Other current liabilities	$	29.9
Operating lease liabilities		243.8
Total	$	273.7