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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Information on Leases

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

 

 

For the Years Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Lease cost

 

$

59.7

 

 

$

62.4

 

 

$

71.1

 

Cash paid for leases recognized in operating cash flows

 

$

62.8

 

 

$

65.2

 

 

$

70.5

 

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

 

$

77.8

 

 

$

72.0

 

 

$

88.8

 

 

 

 

 

 

As of December 31,

 

 

 

 

 

2023

 

 

2022

 

Right-of-use assets recognized in Other assets

 

 

 

$

203.8

 

 

$

196.4

 

Lease liabilities recognized in Other current liabilities

 

 

 

$

52.9

 

 

$

53.0

 

Lease liabilities recognized in Other long-term liabilities

 

 

 

$

174.4

 

 

$

167.3

 

Weighted-average remaining lease term

 

 

 

5.8 years

 

 

5.9 years

 

Weighted-average discount rate

 

 

 

 

2.8

%

 

 

2.1

%

Schedule of Future Minimum Lease Payments

Our future minimum lease payments as of December 31, 2023 were (in millions):

 

For the Years Ending December 31,

 

 

 

 

 

 

 

2024

 

 

 

 

 

$

57.7

 

2025

 

 

 

 

 

 

48.1

 

2026

 

 

 

 

 

 

39.3

 

2027

 

 

 

 

 

 

31.3

 

2028

 

 

 

 

 

 

20.9

 

Thereafter

 

 

 

 

 

 

50.1

 

Total

 

 

 

 

 

 

247.4

 

Less imputed interest

 

 

 

 

 

 

20.1

 

Total

 

 

 

 

 

$

227.3