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):


	July 2, 2022		December 31, 2021
Right-of-use assets under operating leases:
Other long-term assets	$	656.4	$	627.9
Lease obligations under operating leases:
Accrued liabilities	$	130.3	$	125.6
Other long-term liabilities	555.3		523.6
	$	685.6	$	649.2

Maturities of lease obligations as of July 2, 2022, are shown below (in millions):


	July 2, 2022
2022 (1)	$	78.7
2023	137.2
2024	117.7
2025	99.8
2026	87.8
Thereafter	239.9
Total undiscounted cash flows	761.1
Less: Imputed interest	(75.5)
Lease obligations under operating leases	$	685.6

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


	Six Months Ended
	July 2, 2022		July 3, 2021
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	101.2	$	94.3
Operating cash flows:
Cash paid related to operating lease obligations	$	81.2	$	81.1

In addition to the right-of-use assets obtained in exchange for operating lease obligations shown above, in the six months ended July 2, 2022, the Company acquired $34.1 million of right-of-use assets and related lease liabilities in connection with its acquisition of Kongsberg ICS. See Note 3, "Acquisition of Kongsberg ICS."

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 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Operating lease expense	$	40.9	$	39.9	$	82.3	$	78.9
Short-term lease expense	5.4		4.4		10.8		8.6
Variable lease expense	2.1		2.2		4.1		4.4
Total lease expense	$	48.4	$	46.5	$	97.2	$	91.9

In the three and six months ended July 2, 2022, the Company recognized an impairment charge of $6.4 million related to its right-of-use assets in conjunction with its restructuring actions (Note 4, "Restructuring").

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


	July 2, 2022
Weighted average remaining lease term	Seven years
Weighted average discount rate	3.0	%

The Company is party to a finance lease agreement, which is not material to the accompanying condensed consolidated financial statements (Note 9, "Debt").