Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.1
Leases (Tables)
3 Months Ended
Mar. 30, 2019
Leases [Abstract]  
Lease Assets and Lease Liabilities [Table Text Block]
A summary of the Company's lease assets and lease liabilities as of March 30, 2019 is as follows:
(in millions)
Classification
 
March 30, 2019
Lease Assets
 
 
 
Operating lease assets
Operating lease assets
 
$
99.2

 
 
 
 
Lease Liabilities
 
 
 
Current operating lease liabilities
Accrued expenses
 
23.2

Non-current operating lease liabilities
Operating lease liabilities
 
83.8

Total lease liabilities
 
 
$
107.0

Lease Cost [Table Text Block]
A summary of the Company's total lease cost for the three months ended March 30, 2019 is as follows:
(in millions)
Classification
 
March 30, 2019
Operating lease cost
Selling, general, and administrative expense
 
$
5.0

 
Cost of sales
 
8.7

Variable lease cost
Selling, general, and administrative expense
 
1.2

 
Cost of sales
 
2.0

Total lease cost (A)
 
 
$
16.9


(A) Includes total short-term lease cost which is immaterial.

Operating Lease Liability, Maturity Analysis [Table Text Block]
The Company's maturity analysis of its operating lease liabilities as of March 30, 2019 is as follows:
(in millions)
 
2019
$
21.9

2020
24.7

2021
20.6

2022
17.6

2023
14.8

Thereafter
23.0

Total lease payments
$
122.6

Less: Interest
(15.6
)
Present value of lease liabilities
$
107.0

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]
The following represents the Company's future minimum rental payments at December 31, 2018 for agreements classified as operating leases under ASC 840 with non-cancelable terms in excess of one year:
(in millions)
 
2019
$
40.3

2020
32.3

2021
26.5

2022
17.7

2023
13.7

Thereafter
22.9

Total (not reduced by minimum sublease income of $0.1)
$
153.4