v3.25.2
Leases (Tables)
6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
Components of Lease Expense and Other Information
Components of Lease Expense
Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Lease expense:
Operating lease cost$38 $34 $75 $69 
Variable cost16 11 28 22 
Sublease income(2)(1)(3)(3)
Net lease expense from operating leases$52 $44 $100 $88 
Other Information Related to Leases
Six Months Ended
(in millions)June 28, 2025June 29, 2024
Supplemental cash flow information:
Net cash used for operating activities related to operating leases$88 $88 
Right-of-use assets obtained in exchange for lease liabilities58 91 
June 28, 2025December 31, 2024
Weighted average remaining lease terms (years)65
Weighted average discount rate:4.14 %3.97 %
Lease Assets and Liabilities
Lease Assets and Liabilities
(in millions)Statement Line ClassificationJune 28, 2025December 31, 2024
Right-of-use lease assetsOperating lease assets$590 $529 
Current lease liabilitiesAccrued liabilities129 127 
Operating lease liabilitiesOperating lease liabilities472 427 
Future Lease Payments, Operating
Future Lease Payments
June 28, 2025
(in millions)Operating Leases
Remainder of 2025$58 
2026144 
2027142 
2028115 
202985 
Thereafter135 
Total lease payments679 
Less: interest78 
Present value of lease liabilities$601 
Future Lease Payments, Finance
Future Lease Payments
June 28, 2025
(in millions)Operating Leases
Remainder of 2025$58 
2026144 
2027142 
2028115 
202985 
Thereafter135 
Total lease payments679 
Less: interest78 
Present value of lease liabilities$601