LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease Information

Supplemental information related to leases and balance sheet classification as of December 31 was as follows ($ in millions):

Leases	Balance Sheet Classification	2023		2022
Assets:
Operating lease assets	Right of use assets	$	163.9	$	161.8
Finance lease assets	Property and equipment, net	45.6		—
Total		$	209.5	$	161.8
Liabilities:
Current
Operating	Accounts payable and other current liabilities	$	23.9	$	24.1
Finance	Current maturities of long-term debt	—		—
Non-Current
Operating	Long-term portion of operating lease liabilities	134.1		126.7
Finance	Long-term debt, net of current maturities	49.8		—
Total lease liabilities		$	207.8	$	150.8

The weighted-average remaining lease term and discount rate for our operating and financing leases as of December 31 for the corresponding year were as follows:

	2023		2022
Weighted average remaining lease term (years):
Operating leases	13.9		14.6
Finance leases	39.7		—
Weighted average discount rate:
Operating leases	14.1	%	14.0	%
Finance leases	9.0	%	—	%

The following table provides information related to the lease costs of finance and operating leases ($ in millions):

Lease Expense	Income Statement Classification	2023		2022
Operating	SG&A expenses	$	32.6	$	31.4
Finance:
Amortization of finance lease assets	Depreciation and amortization expense	0.9		—
Interest on lease liabilities	Interest expense	1.4		—
Total lease costs		$	34.9	$	31.4

The following table provides information related to the portion of operating lease assets and liabilities which are attributable to related party leases at December 31 ($ in millions):

Leases	2023		2022
Assets:
Right of use assets – related party	$	108.5	$	105.3
All other right of use assets	55.4		56.5
Total	$	163.9	$	161.8
Liabilities:
Current:
Current portion of lease liabilities – related party	$	14.2	$	14.5
Current portion of lease liabilities – all other leases	9.7		9.6
Total current liabilities	23.9		24.1
Non-Current:
Long-term portion of lease liabilities – related party	96.2		93.7
Long-term portion of lease liabilities – all other leases	37.9		33.0
Total non-current liabilities	134.1		126.7
Total lease liabilities	$	158.0	$	150.8

Supplemental cash flow information related to leases was as follows:

($ in millions)	2023		2022
Cash payments for operating leases	$	29.3	$	25.9
New assets obtained in exchange for operating lease liabilities	14.9		18.1
Cash payments for finance leases	1.2		—

Schedule of Future Minimum Payments

The following table summarizes the future minimum payments for leases as of December 31, 2023:

($ in millions)	Operating Leases		Finance Lease
2024	$	29.7	$	3.8
2025	28.7		3.8
2026	27.7		3.9
2027	26.9		4.0
2028	21.9		4.1
Thereafter	260.8		205.8
Total lease payments	395.7		225.4
Less imputed interest	(237.7)		(175.6)
Present value of lease liabilities(1)	$	158.0	$	49.8

(1) Finance lease liability is recorded in long-term debt. See Note 9.

Schedule of Finance Lease, Liability, to be Paid, Maturity

The following table summarizes the future minimum payments for leases as of December 31, 2023:

($ in millions)	Operating Leases		Finance Lease
2024	$	29.7	$	3.8
2025	28.7		3.8
2026	27.7		3.9
2027	26.9		4.0
2028	21.9		4.1
Thereafter	260.8		205.8
Total lease payments	395.7		225.4
Less imputed interest	(237.7)		(175.6)
Present value of lease liabilities(1)	$	158.0	$	49.8

(1) Finance lease liability is recorded in long-term debt. See Note 9.