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LEASES (Tables) | 12 Months Ended
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Dec. 25, 2021
Leases [Abstract] |
Components of Lease Expense | The components of lease expense were as follows:
(In millions) |  | 2021 |  |  | 2020 |  |  | 2019 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 18 |  |  | $ | 18 |  |  | $ | 17 |
Interest on lease liabilities |  |  | 3 |  |  |  | 4 |  |  |  | 5 |
Operating lease cost |  |  | 350 |  |  |  | 402 |  |  |  | 419 |
Short-term lease cost |  |  | 4 |  |  |  | 6 |  |  |  | 5 |
Variable lease cost |  |  | 99 |  |  |  | 112 |  |  |  | 118 |
Sublease income |  |  | (2 | ) |  |  | (2 | ) |  |  | (2 | )
Total lease cost |  | $ | 472 |  |  | $ | 540 |  |  | $ | 562 |
Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows:
(In millions) |  | 2021 |  |  | 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from finance leases |  | $ | 3 |  |  | $ | 4 |  |  | $ | 5 |
Operating cash flows from operating leases |  |  | 408 |  |  |  | 447 |  |  |  | 473 |
Financing cash flows from finance leases |  |  | 22 |  |  |  | 20 |  |  |  | 21 |
Right-of-use assets obtained in exchange for new finance lease liabilities |  |  | 3 |  |  |  | 29 |  |  |  | 27 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | 127 |  |  |  | 117 |  |  |  | 327 |
Supplemental Balance Sheets Information Related to Leases | Supplemental balance sheets information related to leases was as follows:
|  | December 25, |  |  | December 26, |
(In millions, except lease term and discount rate) |  | 2021 |  |  | 2020 |
Property and equipment, net |  | $ | 39 |  |  | $ | 59 |
Operating lease right-of-use assets |  |  | 936 |  |  |  | 1,107 |
Accrued expenses and other current liabilities |  |  | 304 |  |  |  | 334 |
Short-term borrowings and current maturities of long-term debt |  |  | 17 |  |  |  | 21 |
Long-term debt, net of current maturities |  |  | 35 |  |  |  | 57 |
Operating lease liabilities |  |  | 753 |  |  |  | 935 |
Weighted-average remaining lease term – finance leases |  | 4 |  |  | 5 |
Weighted-average remaining lease term – operating leases |  | 5 |  |  | 5 |
Weighted-average discount rate – finance leases |  |  | 5.0 | % |  |  | 5.4 | %
Weighted-average discount rate – operating leases |  |  | 5.8 | % |  |  | 6.4 | %
Schedule of Maturities of Lease Liabilities Under Operating and Finance Leases | Maturities of lease liabilities as of December 25, 2021 were as follows:
|  | December 25, 2021 |
|  | Operating |  |  | Finance |
(In millions) |  | Leases(1) |  |  | Leases(2) |
2022 |  | $ | 358 |  |  | $ | 19 |
2023 |  |  | 283 |  |  |  | 15 |
2024 |  |  | 199 |  |  |  | 8 |
2025 |  |  | 134 |  |  |  | 7 |
2026 |  |  | 102 |  |  |  | 5 |
Thereafter |  |  | 140 |  |  |  | 3 |
|  |  | 1,216 |  |  |  | 57 |
Less imputed interest |  |  | (159 | ) |  |  | (5 | )
Total |  | $ | 1,057 |  |  | $ | 52 |
Reported as of December 25, 2021 |  |  |  |  |  |  |  |
Accrued expenses and other current liabilities |  | $ | 304 |  |  | $ | — |
Short-term borrowings and current maturities of long-term debt |  |  | — |  |  |  | 17 |
Long-term debt, net of current maturities |  |  | — |  |  |  | 35 |
Operating lease liabilities |  |  | 753 |  |  |  | — |
Total |  | $ | 1,057 |  |  | $ | 52 |
(1) | Operating lease payments include $77 million related to options to extend lease terms that are reasonably certain of being exercised.
(2) | Finance lease payments include $1 million related to options to extend lease terms that are reasonably certain of being exercised.

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