Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of lease assets and liabilities

The following table presents lease assets and liabilities and their balance sheet classification:

(in millions)	Classification	December 31,
		2022		2021
Operating leases:
Lease assets	Other assets	$	118.7	$	107.8
Current portion of liabilities	Other current liabilities	35.6		34.1
Liabilities, net of current portion	Other liabilities	86.6		78.6
Finance leases:
Lease assets	Property, plant and equipment, net	55.3		59.9
Current portion of liabilities	Current portion of debt	4.3		4.2
Liabilities, net of current portion	Debt, net of current portion	64.7		67.0

Schedule of information about lease expense

The following tables present information about lease expense:

(in millions)	Year ended December 31,
	2022		2021		2020
	(1,2)		(1,2)		(1,2)
Operating lease expense	$	48.5	$	48.2	$	52.0
Finance lease expense	10.7		11.1		11.3
Total	$	59.2	$	59.3	$	63.3

(1)Operating lease expense for 2022 and 2021 includes $7.9 million and $7.3 million, respectively, classified as cost of sales and $40.6 million and $40.9 million classified as SG&A expenses, respectively.

(2)Finance lease expense consists primarily of amortization of finance lease assets that is classified as SG&A expenses.

	December 31,
	2022		2021
Weighted average remaining lease term:
Operating leases	6.3 years		5.0 years
Finance leases	12.7 years		13.5 years
Weighted average discount rate:
Operating leases	3.9	%	4.4	%
Finance leases	7.8	%	7.9	%

Schedule of future payments due under operating leases

The following table presents future payments due under leases reconciled to lease liabilities:

(in millions)	December 31, 2022
	Operating leases		Finance leases
2023	$	39.1	$	9.3
2024	31.9		9.2
2025	19.5		8.5
2026	12.5		7.8
2027	6.5		7.8
Thereafter	26.6		73.3
Total undiscounted lease payments	136.1		115.9
Difference between undiscounted and discounted lease payments	(13.9)		(46.9)
Lease liabilities	$	122.2	$	69.0

Schedule of future payments due under finance leases

The following table presents future payments due under leases reconciled to lease liabilities:

(in millions)	December 31, 2022
	Operating leases		Finance leases
2023	$	39.1	$	9.3
2024	31.9		9.2
2025	19.5		8.5
2026	12.5		7.8
2027	6.5		7.8
Thereafter	26.6		73.3
Total undiscounted lease payments	136.1		115.9
Difference between undiscounted and discounted lease payments	(13.9)		(46.9)
Lease liabilities	$	122.2	$	69.0