Leases |
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| Leases | 9 Leases As of July 4, 2026, the Company had lease agreements that expire at various dates through 2035, with a weighted-average remaining lease term of 9.5 years. Rental expense was $20 million and $10 million for the three months ended July 4, 2026, and June 28, 2025, respectively, and $31 million and $20 million six months ended July 4, 2026, and June 28, 2025, respectively. As of July 4, 2026, the weighted-average discount rate used to determine the present value of lease liabilities was 4.13%. During the three and six months ended July 4, 2026, cash paid for amounts included in the measurement of lease liabilities in operating activities in the statement of cash flows was $ 20 million, and $ 31 million, respectively. The Company recorded a $ 6 million and $ 2 million increase in right-of-use assets in exchange for new operating lease liabilities for the three months ended July 4, 2026 and June 28, 2025. The Company recorded a $13 million and $5 million increase in right-of-use assets in exchange for new operating lease liabilities for the six months ended July 4, 2026 and June 28, 2025. The Company’s right-of-use
The Company acquired Operating lease assets and Current operating lease liabilities with an estimated fair value of $296 million, respectively. Refer to Note 4, “Acquisitions” for further details. Undiscounted future minimum rents payable as of July 4, 2026 under non-cancelable leases with initial terms exceeding one year reconcile to lease liabilities included in the consolidated balance sheet as follows (in millions):
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