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Leases | 12 Months Ended
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Jan. 01, 2023
Leases [Abstract] |
Leases | Leases The Company has operating and financing leases for headquarters and field offices and various equipment. Our leases generally have remaining lease terms of one year to 10 years. We determine if an arrangement is a lease at inception. The components of lease expense are as follows (in millions of dollars):
|  |  |  | December Year to Date
Description |  | Statements of Earnings Location |  | 2022 |  | 2021 |  | 2020
Operating: |  |  |  |  |  |  |  |
Operating lease cost |  | Selling, general and administrative expenses |  | $ | 22.8 |  |  | $ | 25.8 |  |  | $ | 27.0 |
Short-term lease cost |  | Selling, general and administrative expenses |  | 2.4 |  |  | 2.6 |  |  | 3.6 |
Variable lease cost |  | Selling, general and administrative expenses |  | 5.2 |  |  | 5.7 |  |  | 6.8 |
Financing: |  |  |  |  |  |  |  |
Amortization of ROU assets |  | Selling, general and administrative expenses |  | 0.6 |  |  | 1.4 |  |  | 1.3 |
Interest on lease liabilities |  | Other income (expense), net |  | 0.1 |  |  | 0.2 |  |  | 0.4 |
Total lease cost |  |  |  | $ | 31.1 |  |  | $ | 35.7 |  |  | $ | 39.1 |
Supplemental consolidated balance sheet information related to leases is as follows (in millions of dollars):
Description |  | Balance Sheet Location |  | As of Year-End 2022 |  | As of Year-End 2021
ROU Assets: |  |  |  |  |  |
Operating |  | Operating lease right-of-use assets |  | $ | 66.8 |  |  | $ | 75.8 |
Financing |  | Property and equipment |  | 5.0 |  |  | 6.3 |
Total lease assets |  |  |  | $ | 71.8 |  |  | $ | 82.1 |
ROU Liabilities: |  |  |  |  |  |
Operating - current |  | Operating lease liabilities, current |  | $ | 14.7 |  |  | $ | 17.5 |
Financing - current |  | Accounts payable and accrued liabilities |  | 1.2 |  |  | 1.9 |
Operating - noncurrent |  | Operating lease liabilities, noncurrent |  | 55.0 |  |  | 61.4 |
Financing - noncurrent |  | Other long-term liabilities |  | — |  |  | 1.2 |
Total lease liabilities |  |  |  | $ | 70.9 |  |  | $ | 82.0 |
Weighted average remaining lease terms and discount rates are as follows:
| December Year to Date
| 2022 |  | 2021
Weighted average remaining lease term (years): |  |  |
Operating leases | 7.9 |  | 8.1
Financing leases | 1.3 |  | 2.1
Weighted average discount rate: |  |  |
Operating leases | 5.1 | % |  | 4.9 | %
Financing leases | 5.4 | % |  | 5.3 | %
Other information related to leases is as follows (in millions of dollars):
|  |  | December Year to Date
|  |  | 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases |  |  | $ | 22.4 |  |  | $ | 26.1 |  |  | $ | 25.4 |
Financing cash flows from financing leases |  |  | 1.4 |  |  | 1.5 |  |  | 2.0 |
ROU assets obtained in exchange for new lease obligations: |  |  |  |  |  |  |
Operating leases |  |  | $ | 10.7 |  |  | $ | 14.9 |  |  | $ | 43.3 |
Financing leases |  |  | — |  |  | — |  |  | 3.1 |
Maturities of lease liabilities as of year-end 2022 are as follows (in millions of dollars):
| Operating Leases |  | Financing Leases
2023 | $ | 17.8 |  |  | $ | 1.3 |
2024 | 13.2 |  |  | — |
2025 | 10.1 |  |  | — |
2026 | 7.7 |  |  | — |
2027 | 5.5 |  |  | — |
Thereafter | 30.3 |  |  | — |
Total future lease payments | 84.6 |  |  | 1.3 |
Less: Imputed interest | 15.0 |  |  | 0.1 |
Total | $ | 69.6 |  |  | $ | 1.2 |
During the first quarter of 2020, the Company sold three of four headquarters properties and entered into a leaseback agreement, which is accounted for as an operating lease (see Sale of Assets footnote). As of first quarter-end 2020, we recognized $37.6 million of ROU assets within operating lease right-of-use assets, $1.2 million of current lease liabilities within operating lease liabilities, current and $36.1 million of noncurrent lease liabilities within operating lease liabilities, noncurrent in the consolidated balance sheet, with a discount rate of 4.8% over a 15-year lease term related to this lease.
Leases | Leases The Company has operating and financing leases for headquarters and field offices and various equipment. Our leases generally have remaining lease terms of one year to 10 years. We determine if an arrangement is a lease at inception. The components of lease expense are as follows (in millions of dollars):
|  |  |  | December Year to Date
Description |  | Statements of Earnings Location |  | 2022 |  | 2021 |  | 2020
Operating: |  |  |  |  |  |  |  |
Operating lease cost |  | Selling, general and administrative expenses |  | $ | 22.8 |  |  | $ | 25.8 |  |  | $ | 27.0 |
Short-term lease cost |  | Selling, general and administrative expenses |  | 2.4 |  |  | 2.6 |  |  | 3.6 |
Variable lease cost |  | Selling, general and administrative expenses |  | 5.2 |  |  | 5.7 |  |  | 6.8 |
Financing: |  |  |  |  |  |  |  |
Amortization of ROU assets |  | Selling, general and administrative expenses |  | 0.6 |  |  | 1.4 |  |  | 1.3 |
Interest on lease liabilities |  | Other income (expense), net |  | 0.1 |  |  | 0.2 |  |  | 0.4 |
Total lease cost |  |  |  | $ | 31.1 |  |  | $ | 35.7 |  |  | $ | 39.1 |
Supplemental consolidated balance sheet information related to leases is as follows (in millions of dollars):
Description |  | Balance Sheet Location |  | As of Year-End 2022 |  | As of Year-End 2021
ROU Assets: |  |  |  |  |  |
Operating |  | Operating lease right-of-use assets |  | $ | 66.8 |  |  | $ | 75.8 |
Financing |  | Property and equipment |  | 5.0 |  |  | 6.3 |
Total lease assets |  |  |  | $ | 71.8 |  |  | $ | 82.1 |
ROU Liabilities: |  |  |  |  |  |
Operating - current |  | Operating lease liabilities, current |  | $ | 14.7 |  |  | $ | 17.5 |
Financing - current |  | Accounts payable and accrued liabilities |  | 1.2 |  |  | 1.9 |
Operating - noncurrent |  | Operating lease liabilities, noncurrent |  | 55.0 |  |  | 61.4 |
Financing - noncurrent |  | Other long-term liabilities |  | — |  |  | 1.2 |
Total lease liabilities |  |  |  | $ | 70.9 |  |  | $ | 82.0 |
Weighted average remaining lease terms and discount rates are as follows:
| December Year to Date
| 2022 |  | 2021
Weighted average remaining lease term (years): |  |  |
Operating leases | 7.9 |  | 8.1
Financing leases | 1.3 |  | 2.1
Weighted average discount rate: |  |  |
Operating leases | 5.1 | % |  | 4.9 | %
Financing leases | 5.4 | % |  | 5.3 | %
Other information related to leases is as follows (in millions of dollars):
|  |  | December Year to Date
|  |  | 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases |  |  | $ | 22.4 |  |  | $ | 26.1 |  |  | $ | 25.4 |
Financing cash flows from financing leases |  |  | 1.4 |  |  | 1.5 |  |  | 2.0 |
ROU assets obtained in exchange for new lease obligations: |  |  |  |  |  |  |
Operating leases |  |  | $ | 10.7 |  |  | $ | 14.9 |  |  | $ | 43.3 |
Financing leases |  |  | — |  |  | — |  |  | 3.1 |
Maturities of lease liabilities as of year-end 2022 are as follows (in millions of dollars):
| Operating Leases |  | Financing Leases
2023 | $ | 17.8 |  |  | $ | 1.3 |
2024 | 13.2 |  |  | — |
2025 | 10.1 |  |  | — |
2026 | 7.7 |  |  | — |
2027 | 5.5 |  |  | — |
Thereafter | 30.3 |  |  | — |
Total future lease payments | 84.6 |  |  | 1.3 |
Less: Imputed interest | 15.0 |  |  | 0.1 |
Total | $ | 69.6 |  |  | $ | 1.2 |
During the first quarter of 2020, the Company sold three of four headquarters properties and entered into a leaseback agreement, which is accounted for as an operating lease (see Sale of Assets footnote). As of first quarter-end 2020, we recognized $37.6 million of ROU assets within operating lease right-of-use assets, $1.2 million of current lease liabilities within operating lease liabilities, current and $36.1 million of noncurrent lease liabilities within operating lease liabilities, noncurrent in the consolidated balance sheet, with a discount rate of 4.8% over a 15-year lease term related to this lease.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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