Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

LeasesOur operating lease obligations are for office facilities, corporate housing and equipment. Our leases have remaining lease terms ranging between less than 1 year and 12 years, some of which include options to extend the leases. Expenses associated with leases totaled $11.8 million for the year ended December 31, 2022, as compared to $18.3 million for the year ended December 31, 2021. The components of lease expense, and other lease information, as of and during the year ended December 31, 2022 and 2021 are as follows:

	December 31,
(in millions)	2022			2021
Operating leases right-of-use assets (1)	$	57.7		$	81.4
Operating lease liabilities (2)	66.4			97.7
Operating lease weighted-average remaining lease term	8.22			9.51
Operating lease weighted-average discount rate	3.44		%	3.53		%

(1) $0.5 million of Operating leases right-of-use-assets were reclassified to assets held-for-sale. See Note 2, “Recent Acquisitions, Disposals & Other Transactions” at December 31, 2022.

(2) $0.5 million of Operating lease liabilities were reclassified to liabilities held-for-sale. See Note 2, “Recent Acquisitions, Disposals & Other Transactions” at December 31, 2022.

	For the Year Ended December 31,
(in millions)	2022		2021
Operating lease costs	$	8.1	$	14.2
Variable lease costs	4.7		6.2
Sublease income	(1.0)		(2.1)
Total lease costs	$	11.8	$	18.3

Our finance leases and short-term leases as of December 31, 2022 and 2021 were not material.

Future minimum lease payments under operating leases as of December 31, 2022 were as follows:

	December 31,
(in millions)	2022
2023	10.9
2024	9.6
2025	9.6
2026	9.2
2027	8.2
Thereafter	29.5
Total future minimum lease payments	$	77.0
Less imputed interest	(10.6)
Total operating lease liability	$	66.4