We lease certain real and personal property from unrelated third parties under non-cancellable operating leases that expire at various dates through fiscal year 2033. These operating leases are primarily for administrative offices, research and development and manufacturing facilities, as well as sales offices in various countries around the world. Certain leases require us to pay property taxes, insurance and routine maintenance, and include escalation clauses. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement.

As of June 27, 2026, we sublease a portion of our offices in Canada and China. These subleases will expire at various dates through fiscal year 2029.


	June 27, 2026			June 28, 2025			June 29, 2024


Operating lease cost	$	13.4		$	13.3		$	16.8

Short-term and variable lease cost	3.7			3.5			4.6
Sublease income	(0.8)			(0.8)			(2.0)
Total lease cost	$	16.3		$	16.0		$	19.4

Weighted average remaining lease term (in years):
Operating leases	2.9			3.3			5.2

Weighted average discount rate (in percentages):
Operating leases	3.8		%	3.8		%	3.5		%

As of June 27, 2026, maturities of our operating lease liabilities, which do not include short-term leases and variable lease payments, were as follows (in millions):


Fiscal Years	Operating Leases (1)
2027	$	14.6
2028	11.1
2029	7.6
2030	1.5
2031	0.7
Thereafter	0.5
Total minimum lease payments	36.0
Less: amount representing interest	(2.2)
Present value of total lease liabilities	$	33.8

(1) We anticipate receiving approximately $0.8 million in sublease income for fiscal year 2027, which is not included in the table above.