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Leases
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Leases

11. Leases

The following table summarizes components of lease costs recognized in the condensed consolidated statements of operations (in millions; amounts include both continuing and discontinued operations):

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Operating lease costs

 

$

27.5

 

 

$

26.8

 

Finance lease costs:

 

 

 

 

 

 

Amortization of right-of-use assets

 

 

2.7

 

 

 

1.2

 

Interest on lease obligations

 

 

0.4

 

 

 

0.1

 

Variable lease costs

 

 

2.2

 

 

 

2.4

 

Total lease costs

 

$

32.8

 

 

$

30.5

 

 

The following table presents supplemental cash flow information related to the Company's leases (in millions):

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Cash paid for amounts included in measurement of lease obligations:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

25.8

 

 

$

24.6

 

Operating cash flows from finance leases

 

$

0.4

 

 

$

0.1

 

Financing cash flows from finance leases

 

$

2.3

 

 

$

0.8

 

Right-of-use assets obtained in exchange for new finance lease liabilities

 

$

20.1

 

 

$

9.0

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

11.6

 

 

$

6.9

 

As of March 31, 2022, the Company’s operating leases had a weighted-average remaining lease term of 6.0 years and a weighted-average discount rate of 3.66%, and the Company’s finance leases had a weighted-average remaining lease term of 5.2 years and a weighted-average discount rate of 3.85%.

The following table summarizes future lease payments as of March 31, 2022 (in millions):

Year Ending December 31,

 

Operating Leases

 

 

Finance Leases

 

2022 (Apr - Dec)

 

$

77.7

 

 

$

8.4

 

2023

 

 

96.4

 

 

 

11.0

 

2024

 

 

81.2

 

 

 

10.9

 

2025

 

 

60.9

 

 

 

10.6

 

2026

 

 

47.7

 

 

 

9.0

 

Thereafter

 

 

107.2

 

 

 

5.3

 

Total future lease payments

 

 

471.1

 

 

 

55.2

 

Imputed interest

 

 

(48.2

)

 

 

(4.9

)

Total lease liabilities

 

$

422.9

 

 

$

50.3