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Leases | 6 Months Ended
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Jul. 04, 2020
Leases [Abstract] |
Leases | Leases Right-of-Use Assets and Lease Obligations The Company has operating leases for production, office and warehouse facilities, manufacturing and office equipment and vehicles. Operating lease assets and obligations included in the accompanying condensed consolidated balance sheet are shown below (in millions):
| July 4, 2020 |  | December 31, 2019
Right-of-use assets under operating leases: |  |  |
Other long-term assets | $ | 537.2 |  |  | $ | 527.0 |
Lease obligations under operating leases: |  |  |
Accrued liabilities | $ | 113.9 |  |  | $ | 113.9 |
Other long-term liabilities | 434.0 |  |  | 422.4 |
| $ | 547.9 |  |  | $ | 536.3 |
Maturities of lease obligations as of July 4, 2020, are shown below (in millions):
| July 4, 2020
2020 (1) | $ | 69.3 |
2021 | 121.9 |
2022 | 97.5 |
2023 | 76.2 |
2024 | 63.4 |
Thereafter | 208.9 |
Total undiscounted cash flows | 637.2 |
Less: Imputed interest | (89.3 | )
Lease obligations under operating leases | $ | 547.9 |
(1) For the remaining six months The Company has entered into one lease contract which is expected to commence in the third quarter of 2021 with a lease term of approximately ten years. The aggregate right-of-use asset and related lease obligation are expected to be approximately $50 million. Cash flow information related to operating leases is shown below (in millions):
| Six Months Ended
| July 4, 2020 |  | June 29, 2019
Non-cash activity: |  |  |
Right-of-use assets obtained in exchange for operating lease obligations | $ | 83.2 |  |  | $ | 66.1 |
Operating cash flows: |  |  |
Cash paid related to operating lease obligations | $ | 70.9 |  |  | $ | 66.5 |
Lease expense included in the accompanying condensed consolidated statements of comprehensive income (loss) is shown below (in millions):
| Three Months Ended |  | Six Months Ended
| July 4, 2020 |  | June 29, 2019 |  | July 4, 2020 |  | June 29, 2019
Operating lease expense | $ | 35.3 |  |  | $ | 35.0 |  |  | $ | 71.6 |  |  | $ | 67.5 |
Short-term lease expense | 3.9 |  |  | 4.6 |  |  | 8.0 |  |  | 9.0 |
Variable lease expense | 1.8 |  |  | 1.2 |  |  | 3.7 |  |  | 1.8 |
Total lease expense | $ | 41.0 |  |  | $ | 40.8 |  |  | $ | 83.3 |  |  | $ | 78.3 |
In the six months ended July 4, 2020, the Company recognized an impairment charge of $2.0 million related to its right-of-use assets in conjunction with its restructuring actions (Note 3, "Restructuring"). The weighted average lease term and discount rate for operating leases are shown below:
| July 4, 2020
Weighted average remaining lease term (in years) | 7.1 |
Weighted average discount rate | 3.4 | %
For further information related to the Company's leases, see Note 7, "Leases," to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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