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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Information on Leases

Information on our leases is as follows ($ in millions):

 

 

 

For the Years Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Lease cost

 

$

62.4

 

 

$

71.1

 

 

$

68.8

 

Cash paid for leases recognized in operating cash flows

 

$

65.2

 

 

$

70.5

 

 

$

66.6

 

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

 

$

72.0

 

 

$

88.8

 

 

$

74.2

 

 

 

 

 

 

As of December 31,

 

 

 

 

 

2022

 

 

2021

 

Right-of-use assets recognized in Other assets

 

 

 

$

196.4

 

 

$

219.4

 

Lease liabilities recognized in Other current liabilities

 

 

 

$

53.0

 

 

$

56.7

 

Lease liabilities recognized in Other long-term liabilities

 

 

 

$

167.3

 

 

$

174.9

 

Weighted-average remaining lease term

 

 

 

5.9 years

 

 

6.1 years

 

Weighted-average discount rate

 

 

 

 

2.1

%

 

 

1.8

%

Schedule of Future Minimum Lease Payments

Our future minimum lease payments as of December 31, 2022 were (in millions):

 

For the Years Ending December 31,

 

 

 

 

 

 

 

2023

 

 

 

 

 

$

56.8

 

2024

 

 

 

 

 

 

46.1

 

2025

 

 

 

 

 

 

35.5

 

2026

 

 

 

 

 

 

28.0

 

2027

 

 

 

 

 

 

22.5

 

Thereafter

 

 

 

 

 

 

46.0

 

Total

 

 

 

 

 

 

234.9

 

Less imputed interest

 

 

 

 

 

 

14.6

 

Total

 

 

 

 

 

$

220.3