XML 59 R40.htm IDEA: XBRL DOCUMENT

LEASES (Tables)

12 Months Ended

Dec. 28, 2024

The components of lease expense were as follows:


(In millions)	2024			2023			2022
Finance lease cost:
Amortization of right-of-use assets	$	10		$	10		$	14
Interest on lease liabilities		2			2			2
Operating lease cost		310			325			334
Short-term lease cost		5			9			6
Variable lease cost		98			94			94
Sublease income		(1	)		(1	)		(2	)
Total lease cost	$	424		$	439		$	448

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:


(In millions)	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	2	$	2	$	2
Operating cash flows from operating leases		343		354		370
Financing cash flows from finance leases		11		15		18
Right-of-use assets obtained in exchange for new finance lease liabilities		9		7		4
Right-of-use assets obtained in exchange for new operating lease liabilities		250		375		228

Supplemental Balance Sheets Information Related to Leases

Supplemental balance sheets information related to leases was as follows:


	December 28,			December 30,
(In millions, except lease term and discount rate)	2024			2023
Property and equipment, net	$	23		$	25
Operating lease right-of-use assets		954			983
Accrued expenses and other current liabilities		264			273
Short-term borrowings and current maturities of long-term debt		9			9
Long-term debt, net of current maturities		19			21
Operating lease liabilities, net of current portion		779			789
Weighted-average remaining lease term – finance leases	3			4
Weighted-average remaining lease term – operating leases	4			5
Weighted-average discount rate – finance leases		5.3	%		5.0	%
Weighted-average discount rate – operating leases		6.8	%		6.9	%

Schedule of Maturities of Lease Liabilities Under Operating and Finance Leases

Maturities of lease liabilities as of December 28, 2024 were as follows:


	December 28, 2024
	Operating			Finance
(In millions)	Leases(1)			Leases(2)
2025	$	326		$	10
2026		284			9
2027		226			7
2028		160			3
2029		101			1
Thereafter		127			1
		1,224			31
Less imputed interest		(181	)		(3	)
Total	$	1,043		$	28

Reported as of December 28, 2024
Accrued expenses and other current liabilities	$	264		$	—
Short-term borrowings and current maturities of long-term debt		—			9
Long-term debt, net of current maturities		—			19
Operating lease liabilities, net of current portion		779			—
Total	$	1,043		$	28

(1)

Operating lease payments include $1 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. There were no legally binding minimum lease payments for leases signed but not yet commenced.