Leases (Tables)

12 Months Ended

Dec. 31, 2021

The components of lease expense for the years ended December 31, 2021 and 2020 are as follows.


	2021		2020
Operating lease cost	$	50.6	$	46.1

Finance lease cost
Amortization of right-of-use assets	$	1.5	$	1.2
Interest on lease liabilities	1.1		1.1
Total finance lease cost	$	2.6	$	2.3

Short-term lease cost	$	2.0	$	2.0

Supplemental cash flow information related to leases for the years ended December 31, 2021 and 2020 is as follows.


	2021		2020
Supplemental Cash Flows Information
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating cash flows from operating leases	$	52.0	$	56.6
Operating cash flows from finance leases	1.1		1.1
Financing cash flows from finance leases	1.1		0.7
Leased Assets Obtained in Exchange for New Operating Lease Liabilities(1)	15.8		161.3

(1)For the year ended December 31, 2020, this included leases related to the acquisition of Ingersoll Rand Industrial.

Supplemental balance sheet information related to leases is as follows.


	December 31, 2021			December 31, 2020
Operating leases
Other assets	$	101.8		$	142.9

Accrued liabilities	34.9			47.1
Other liabilities	61.0			90.5
Total operating lease liabilities	$	95.9		$	137.6

Finance Leases
Property, plant and equipment	$	15.1		$	15.7

Short-term borrowings and current maturities of long-term debt	1.1			0.7
Long-term debt, less current maturities	16.0			16.5
Total finance lease liabilities	$	17.1		$	17.2

Weighted Average Remaining Lease Term (in years)
Operating leases	4.0			3.5
Finance leases	11.9			13.2

Weighted Average Discount Rate
Operating leases	1.8		%	1.8		%
Finance leases	6.3		%	6.4		%

Maturities of lease liabilities as of December 31, 2021 are as follows.

Maturities of lease liabilities as of December 31, 2021 are as follows.