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Lease Accounting (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Quantitative Information Regarding Lease Cost

Quantitative information regarding the Company’s leases is as follows:

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

Lease cost(1):

 

 

 

 

 

 

Operating lease cost

 

 

16.1

 

 

 

14.2

 

Short-term lease cost

 

 

0.4

 

 

 

0.3

 

Total lease cost

 

$

16.5

 

 

$

14.5

 

 

(1)
Finance lease costs and variable lease costs are immaterial to the Company. The Company does not have lease or sub-lease income.
Quantitative Information Regarding Maturities of Lease Liabilities

 

Maturities of Lease Liabilities

 

Operating
Leases

 

 

Finance
Leases

 

2022

 

$

15.8

 

 

$

0.1

 

2023

 

 

12.8

 

 

 

 

2024

 

 

9.0

 

 

 

 

2025

 

 

6.2

 

 

 

 

2026

 

 

4.1

 

 

 

 

After 2026

 

 

9.1

 

 

 

 

Total lease payments

 

 

57.0

 

 

 

0.1

 

Less interest

 

 

(5.1

)

 

 

 

Present value of lease liabilities

 

$

51.9

 

 

$

0.1

 

Quantitative Information Regarding Other Information

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

Other Information:

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from finance leases

 

$

 

 

$

 

Operating cash flows from operating leases

 

$

16.4

 

 

$

14.6

 

Financing cash flows from finance leases

 

$

 

 

$

 

Weighted average remaining lease term - finance leases (in years)

 

 

1.29

 

 

 

1.83

 

Weighted average remaining lease term - operating leases (in years)

 

 

5.03

 

 

 

3.53

 

Average discount rate - finance leases

 

 

5.07

%

 

 

5.50

%

Average discount rate - operating leases

 

 

3.52

%

 

 

3.56

%