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Leases (Tables)

9 Months Ended

Oct. 02, 2021

Leases [Abstract]

Right-of-Use Assets and Lease Obligations

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

Maturity of Lease Obligations

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

(1) For the remaining three months

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

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

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		%

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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=123408670&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=123408670&loc=SL77918701-209980

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