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Leases
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Leases Leases
A lease exists when a contract conveys to the customer the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The definition of a lease embodies two conditions: 1) there is an identified asset in the contract that is land or a depreciable asset (i.e., property, plant, and equipment); and 2) the customer has the right to control the use of the identified asset. Lease payments included in the measurement of the lease right-of-use assets and lease liabilities are comprised of fixed payments (including in-substance fixed payments), variable payments that depend on an index or rate, and the exercise price of a lessee option to purchase the underlying asset if the lessee is reasonably certain to exercise.

The components of lease expense were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
($ in millions)2024202320242023
Operating lease cost$6.4 $4.3 $18.1 $15.0 
Finance lease - amortization of right-of-use (ROU) assets0.3 — 0.6 — 
Finance lease - interest on lease liabilities0.1 — 0.1 — 
Short-term lease cost0.8 1.9 1.9 4.4 
Variable lease cost2.5 1.4 6.3 4.4 
Total lease cost$10.1 $7.6 $27.0 $23.8 
As of December 31, 2023, finance leases were not material. The following table summarizes the finance lease amounts in the condensed consolidated balance sheets as of September 30, 2024:
September 30,
($ in millions)Balance Sheet Classification2024
ROU assets, netOther noncurrent assets$31.9 
Lease liabilities (current)Other current liabilities$0.9 
Lease liabilities (noncurrent)Other long-term liabilities$2.2 
Supplemental cash flow information related to leases were as follows:
Nine Months Ended
September 30,
($ in millions)20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$26.3 $14.4 
Financing cash flows from finance leases$23.2 $— 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases$36.8 $6.6 
Finance leases$24.3 $— 
As of September 30, 2024 and December 31, 2023, the weighted average remaining lease term for operating leases was 8.5 years and 9.8 years, respectively. As of September 30, 2024, the weighted average remaining lease term for finance leases was 7.0 years. As of December 31, 2023, finance leases were not material.

As of September 30, 2024 and December 31, 2023, the weighted average discount rate for operating leases was 3.84% and 3.55%, respectively. As of September 30, 2024, the weighted average discount rate for finance leases was 4.92%. As of December 31, 2023, finance leases were not material.
Maturities of the Company's lease liabilities as of September 30, 2024 were as follows:
($ in millions)
YearOperating LeasesFinance Leases
2024 (remaining period as of September 30, 2024)
$6.2 $0.2 
202523.2 0.9 
202620.2 0.9 
202715.5 0.8 
202814.1 0.5 
Thereafter37.2 0.1 
116.4 3.4 
Less: imputed lease interest(14.2)(0.3)
Total lease liabilities$102.2 $3.1 
Leases Leases
A lease exists when a contract conveys to the customer the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The definition of a lease embodies two conditions: 1) there is an identified asset in the contract that is land or a depreciable asset (i.e., property, plant, and equipment); and 2) the customer has the right to control the use of the identified asset. Lease payments included in the measurement of the lease right-of-use assets and lease liabilities are comprised of fixed payments (including in-substance fixed payments), variable payments that depend on an index or rate, and the exercise price of a lessee option to purchase the underlying asset if the lessee is reasonably certain to exercise.

The components of lease expense were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
($ in millions)2024202320242023
Operating lease cost$6.4 $4.3 $18.1 $15.0 
Finance lease - amortization of right-of-use (ROU) assets0.3 — 0.6 — 
Finance lease - interest on lease liabilities0.1 — 0.1 — 
Short-term lease cost0.8 1.9 1.9 4.4 
Variable lease cost2.5 1.4 6.3 4.4 
Total lease cost$10.1 $7.6 $27.0 $23.8 
As of December 31, 2023, finance leases were not material. The following table summarizes the finance lease amounts in the condensed consolidated balance sheets as of September 30, 2024:
September 30,
($ in millions)Balance Sheet Classification2024
ROU assets, netOther noncurrent assets$31.9 
Lease liabilities (current)Other current liabilities$0.9 
Lease liabilities (noncurrent)Other long-term liabilities$2.2 
Supplemental cash flow information related to leases were as follows:
Nine Months Ended
September 30,
($ in millions)20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$26.3 $14.4 
Financing cash flows from finance leases$23.2 $— 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases$36.8 $6.6 
Finance leases$24.3 $— 
As of September 30, 2024 and December 31, 2023, the weighted average remaining lease term for operating leases was 8.5 years and 9.8 years, respectively. As of September 30, 2024, the weighted average remaining lease term for finance leases was 7.0 years. As of December 31, 2023, finance leases were not material.

As of September 30, 2024 and December 31, 2023, the weighted average discount rate for operating leases was 3.84% and 3.55%, respectively. As of September 30, 2024, the weighted average discount rate for finance leases was 4.92%. As of December 31, 2023, finance leases were not material.
Maturities of the Company's lease liabilities as of September 30, 2024 were as follows:
($ in millions)
YearOperating LeasesFinance Leases
2024 (remaining period as of September 30, 2024)
$6.2 $0.2 
202523.2 0.9 
202620.2 0.9 
202715.5 0.8 
202814.1 0.5 
Thereafter37.2 0.1 
116.4 3.4 
Less: imputed lease interest(14.2)(0.3)
Total lease liabilities$102.2 $3.1