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Leases (Tables)

9 Months Ended

Sep. 28, 2019

Leases [Abstract]

Right-of-Use Assets and Lease Obligations

Operating lease assets and obligations included in the accompanying condensed consolidated balance sheet are shown below (in millions):

	September 28, 2019
Right-of-use assets under operating leases:
Other long-term assets	$	514.0
Lease obligations under operating leases:
Accrued liabilities	$	112.0
Other long-term liabilities	409.6
	$	521.6

Maturity of Lease Obligations

Maturities of lease obligations as of September 28, 2019, are shown below (in millions):

	September 28, 2019
2019 (1)	$	35.3
2020	123.2
2021	101.1
2022	77.9
2023	60.1
Thereafter	207.9
Total undiscounted cash flows	605.5
Less: Imputed interest	(83.9		)
Lease obligations under operating leases	$	521.6

⁽¹⁾ For the remaining three months

Cash Flow Information, Lease Expense, Weighted Average Lease Term and Discount Rate

The weighted average lease term and discount rate for operating leases are shown below:

	September 28, 2019
Weighted average remaining lease term (in years)	7.0
Weighted average discount rate	4.0	%

Cash flow information related to operating leases is shown below (in millions):

	Nine Months Ended
	September 28, 2019
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	177.1
Operating cash flows:
Cash paid related to operating lease obligations	$	104.0

Lease expense included in the accompanying condensed consolidated statements of comprehensive income is shown below (in millions):

	Three Months Ended				Nine Months Ended
	September 28, 2019				September 28, 2019
Operating lease expense	$	36.9			$	104.4
Short-term lease expense	3.1				12.1
Variable lease expense	1.4				3.2
Total lease expense	$	41.4			$	119.7

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- Definition

Assets And Liabilities, Lessee [Table Text Block]

+ References

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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=77888426&loc=SL77918686-209980

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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=77888426&loc=SL77918701-209980

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