LEASES (Tables)

6 Months Ended

Jun. 30, 2025

Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) as of June 30, 2025 are:

		As of June 30, 2025
Maturity of Lease Liabilities (in millions)		Operating Leases (1)
Remainder of 2025	$	27.6
2026		44.3
2027		31.6
2028		20.3
2029		13.7
Thereafter		26.2
Total lease payments	$	163.6
Less: imputed interest		(12.7)
Present value of lease liabilities	$	150.9

(1) Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements.

Lease expense recognized in the Consolidated Statements of Income is summarized as follows:

Lease Expense (in millions)	Income Statement Classification		Three Months Ended June 30, 2025		Three Months Ended June 30, 2024		Six Months Ended June 30, 2025		Six Months Ended June 30, 2024
Operating lease expense	Selling, general and administrative and Direct operating costs	$	13.4	$	12.9	$	26.2	$	25.5
Variable lease expense	Selling, general and administrative and Direct operating costs		49.2		43.2		87.3		80.0
Total lease expense		$	62.6	$	56.1	$	113.5	$	105.5

Other information about lease amounts recognized in the consolidated financial statements is summarized as follows:


Lease Term and Discount Rate of Operating Leases	As of June 30, 2025
Weighted- average remaining lease term (years)	4.6
Weighted- average discount rate	3.4	%

The following table presents supplemental cash flow and non-cash information related to leases.

		Six Months Ended June 30, 2025		Six Months Ended June 30, 2024
Cash paid for amounts included in the measurement of lease liabilities (a)	$	25.9	$	25.5
Supplemental non-cash information on lease liabilities arising from obtaining ROU assets
ROU assets obtained in exchange for new operating lease liabilities	$	36.0	$	39.2

(a) Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.