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 sheets are shown below (in millions):


	October 2, 2021		December 31, 2020
Right-of-use assets under operating leases:
Other long-term assets	$	614.3	$	540.3
Lease obligations under operating leases:
Accrued liabilities	$	127.4	$	116.3
Other long-term liabilities	508.4		438.9
	$	635.8	$	555.2

Maturities of lease obligations as of October 2, 2021, are shown below (in millions):


	October 2, 2021
2021 (1)	$	40.7
2022	137.5
2023	109.8
2024	92.7
2025	78.8
Thereafter	253.3
Total undiscounted cash flows	712.8
Less: Imputed interest	(77.0)
Lease obligations under operating leases	$	635.8

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


	Nine Months Ended
	October 2, 2021		October 3, 2020
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	200.0	$	116.2
Operating cash flows:
Cash paid related to operating lease obligations	$	121.7	$	106.3

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 2, 2021		October 3, 2020		October 2, 2021		October 3, 2020
Operating lease expense	$	40.7	$	38.6	$	119.6	$	110.2
Short-term lease expense	5.0		3.3		13.6		11.3
Variable lease expense	1.7		2.2		6.1		5.9
Total lease expense	$	47.4	$	44.1	$	139.3	$	127.4

In the nine months ended October 2, 2021 and October 3, 2020, the Company recognized impairment charges of $7.1 million and $2.0 million, respectively, related to its right-of-use assets in conjunction with its restructuring actions.

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


	October 2, 2021
Weighted average remaining lease term	Seven years
Weighted average discount rate	3.2	%

The Company is party to a finance lease agreement, which is not material to the accompanying condensed consolidated financial statements (Note 8, "Debt").

For further information related to the Company's leases, see Note 8, "Leases," to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.