XML 60 R43.htm IDEA: XBRL DOCUMENT v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of ROU Assets and Lease Liability
ROU assets and lease liability balances recorded on the consolidated balance sheets are summarized as follows (in millions):
LeasesClassificationDecember 31, 2025December 31, 2024
Assets:    
Operating ROU assetsOther assets$52.4 $51.2 
Finance ROU assets Property, plant and equipment, net (1) 17.8 19.0 
Total ROU assets$70.2 $70.2 
     
Liabilities:
Current    
OperatingOther current liabilities$14.7 $12.7 
Finance Current maturities of debt 0.9 0.8 
Non-current
Operating  Operating lease liability 42.0 43.3 
FinanceLong-term debt19.2 19.8 
Total lease liabilities   $76.8 $76.6 
____________________
(1)Finance lease assets are recorded net of accumulated amortization of $4.4 million and $3.2 million as of December 31, 2025 and December 31, 2024, respectively.
Schedule of Components of Lease Expense
The components of lease expense reported in the consolidated statements of operations are as follows (in millions):
Year Ended
December 31, 2025December 31, 2024December 31, 2023
Operating lease expenses (1)$17.0 $14.9 $13.8 
Finance lease expenses:
Depreciation of finance ROU assets (1)1.5 1.6 1.7 
Interest on lease liabilities (2)1.4 1.5 1.5 
Total finance lease expense2.9 3.1 3.2 
Variable and short-term lease expense (1)7.8 7.6 7.0 
Total lease expense$27.7 $25.6 $24.0 
____________________
(1)Included in cost of sales, selling, general and administrative expenses, and restructuring and other similar charges.
(2)Included in interest expense, net.
The weighted-average remaining lease terms and discount rates for leases are as follows:
Year Ended
Lease Term and Discount RateDecember 31, 2025December 31, 2024December 31, 2023
Weighted-average remaining lease terms (years): 
Operating leases4.45.05.9
Finance leases11.913.013.8
Weighted-average discount rate:
Operating leases6.3 %6.4 %6.4 %
Finance leases7.1 %7.1 %7.1 %
Cash paid for amounts included in the measurement of lease liabilities are as follows (in millions):
Year Ended
December 31, 2025December 31, 2024December 31, 2023
Operating cash flows from operating leases$17.5 $14.1 $13.2 
Operating cash flows from finance leases1.4 1.5 1.5 
Financing cash flows from finance leases0.8 0.8 0.8 
ROU assets obtained (disposed) in exchange for lease liabilities are as follows (in millions):
Year Ended
December 31, 2025December 31, 2024December 31, 2023
Operating leases$12.8 $18.9 $14.4 
Finance leases0.4 (0.2)21.8 
Schedule of Future Minimum Lease Payments Under Operating Leases
Future minimum lease payments under operating and finance leases as of December 31, 2025 are as follows (in millions):
Years ending December 31,Operating LeasesFinance Leases
2026$17.8 $2.3 
202717.6 2.4 
202811.2 2.4 
20297.4 2.4 
20303.9 2.5 
Thereafter7.4 18.2 
Total future minimum lease payments65.3 30.2 
Less: Imputed interest(8.6)(10.1)
Total lease liabilities$56.7 $20.1 
Schedule of Future Minimum Lease Payments Under Finance Leases
Future minimum lease payments under operating and finance leases as of December 31, 2025 are as follows (in millions):
Years ending December 31,Operating LeasesFinance Leases
2026$17.8 $2.3 
202717.6 2.4 
202811.2 2.4 
20297.4 2.4 
20303.9 2.5 
Thereafter7.4 18.2 
Total future minimum lease payments65.3 30.2 
Less: Imputed interest(8.6)(10.1)
Total lease liabilities$56.7 $20.1