Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Summary of net operating lease cost

The following table summarizes our net operating lease cost during the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Lease Cost
Operating lease cost (1)	$	63.1	$	62.8	$	190.3	$	187.1
Sublease income	(4.4)		(5.8)		(14.1)		(18.8)
Total lease cost	$	58.7	$	57.0	$	176.2	$	168.3

__________

(1)Includes short-term leases and variable lease costs, which are immaterial.

The following table summarizes supplemental cash flow information related to our operating leases:

	Nine Months Ended September 30, 2022		Nine Months Ended September 30, 2021
Other Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	185.5	$	186.9
Right-of-use assets obtained in exchange for operating lease liabilities, net	$	112.3	$	68.0

Supplemental balance sheet information related to the weighted average remaining lease term and discount rate of our leases is as follows:

	September 30, 2022		December 31, 2021
Lease Term and Discount Rate
Weighted-average remaining lease term - operating leases	25 years		25 years
Weighted-average discount rate - operating leases	6.6	%	6.7	%

Schedule of maturity of lease liabilities

The following table summarizes the maturity of our lease liabilities on an undiscounted cash flow basis and a reconciliation to the operating lease liabilities recognized on our consolidated condensed balance sheet as of September 30, 2022:

Maturity of Lease Liabilities	September 30, 2022
2022 (1)	$	60.9
2023	239.3
2024	233.3
2025	229.6
2026	223.6
2027	217.5
2028 and thereafter	4,036.7
Total future minimum lease payments	$	5,240.9
Less: Imputed interest	(2,836.9)
Present value of future minimum lease payments	$	2,404.0
Current operating lease liabilities (2)	$	93.9
Long-term operating lease liabilities	2,310.1
Total operating lease liabilities	$	2,404.0

__________

(1)Excludes the nine months ended September 30, 2022.

(2)Included within “Accrued expenses and other current liabilities” on Consolidated Condensed Balance Sheet as of September 30, 2022.