Leases (Tables)

12 Months Ended

Dec. 31, 2023

The components of lease expense for the years ended December 31, 2023 and 2022 are as follows.


	2023		2022
Operating lease cost	$	53.7	$	45.8

Finance lease cost
Amortization of right-of-use assets	$	1.5	$	1.5
Interest on lease liabilities	0.9		1.0
Total finance lease cost	$	2.4	$	2.5

Short-term lease cost	$	1.9	$	4.3

Supplemental cash flow information related to leases for the years ended December 31, 2023 and 2022 is as follows.


	2023		2022
Supplemental Cash Flows Information
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating cash flows from operating leases	$	53.7	$	47.0
Operating cash flows from finance leases	1.0		1.0
Financing cash flows from finance leases	1.2		1.2
Leased Assets Obtained in Exchange for New Operating Lease Liabilities	62.5		63.2

Supplemental balance sheet information related to leases is as follows.


	December 31, 2023			December 31, 2022
Operating leases
Other assets	$	164.4		$	126.9

Accrued liabilities	$	41.6		$	39.6
Other liabilities	116.9			80.4
Total operating lease liabilities	$	158.5		$	120.0

Finance Leases
Property, plant and equipment	$	12.3		$	13.7

Short-term borrowings and current maturities of long-term debt	$	1.3		$	1.2
Long-term debt, less current maturities	13.6			14.9
Total finance lease liabilities	$	14.9		$	16.1

Weighted Average Remaining Lease Term (in years)
Operating leases	5.1			4.5
Finance leases	10.3			11.1

Weighted Average Discount Rate
Operating leases	3.6		%	2.9		%
Finance leases	6.4		%	6.4		%

Maturities of lease liabilities as of December 31, 2023 are as follows.

Maturities of lease liabilities as of December 31, 2023 are as follows.