v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
Schedule of 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):
June 28,
2025		December 31, 2024
Right-of-use assets under operating leases:
Other long-term assets$722.8 $699.8 
Lease obligations under operating leases:
Accrued liabilities$166.8 $152.6 
Other long-term liabilities592.9 582.5 
$759.7 $735.1 
Schedule of Maturity of Lease Obligations
Maturities of lease obligations as of June 28, 2025, are shown below (in millions):
June 28, 2025
2025 (1)
$98.2 
2026176.8 
2027149.6 
2028119.6 
202986.7 
Thereafter214.8 
Total undiscounted cash flows845.7 
Less: Imputed interest(86.0)
Lease obligations under operating leases$759.7 
(1)     For the remaining six months
Schedule of Cash Flow Information, Lease Expense, Weighted Average Lease Term and Discount Rate
Cash flow information related to operating leases is shown below (in millions):
Six Months Ended
June 28,
2025		June 29,
2024
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations$69.6 $88.5 
Operating cash flows:
Cash paid related to operating lease obligations$96.9 $95.4 
Lease expense included in the accompanying condensed consolidated statements of comprehensive income (loss) is shown below (in millions):
Three Months EndedSix Months Ended
June 28,
2025		June 29,
2024		June 28,
2025		June 29,
2024
Operating lease expense$48.6 $47.4 $95.7 $94.7 
Short-term lease expense5.3 5.3 10.5 10.9 
Variable lease expense1.6 2.0 3.3 4.1 
Total lease expense$55.5 $54.7 $109.5 $109.7 
The weighted average lease term and discount rate for operating leases are shown below:
June 28,
2025
Weighted average remaining lease termSix years
Weighted average discount rate3.9 %