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):

	October 3, 2020		December 31, 2019
Right-of-use assets under operating leases:
Other long-term assets	$	539.4	$	527.0
Lease obligations under operating leases:
Accrued liabilities	$	113.2	$	113.9
Other long-term liabilities		439.0		422.4
	$	552.2	$	536.3

Maturities of lease obligations as of October 3, 2020, are shown below (in millions):

	October 3, 2020
2020⁽¹⁾	$	35.9
2021		129.6
2022		103.7
2023		81.6
2024		67.3
Thereafter		220.8
Total undiscounted cash flows		638.9
Less: Imputed interest		(86.7	)
Lease obligations under operating leases	$	552.2

The Company entered into one lease agreement 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.

	Nine Months Ended
	October 3, 2020		September 28, 2019
Non-cash activity:
Right of use assets obtained in exchange for operating lease obligations	$	116.2	$	177.1
Operating cash flows:
Cash paid related to operating lease obligations	$	106.3	$	104.0

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

	Three Months Ended				Nine Months Ended
	October 3, 2020		September 28, 2019		October 3, 2020		September 28, 2019
Operating lease expense	$	38.6	$	36.9	$	110.2	$	104.4
Short-term lease expense		3.3		3.1		11.3		12.1
Variable lease expense		2.2		1.4		5.9		3.2
Total lease expense	$	44.1	$	41.4	$	127.4	$	119.7

In the nine months ended October 3, 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:

The Company entered into a finance lease agreement which is not material to the consolidated financial statements (Note 8 "Debt").

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.