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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Components of Lease Expense

The components of lease expense were as follows:

 

Year Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Operating lease expense

$

27.3

 

 

$

27.0

 

 

$

25.1

 

Short-term lease expense

 

4.5

 

 

 

5.0

 

 

 

4.4

 

Low-value lease expense

 

1.4

 

 

 

0.9

 

 

 

0.5

 

Variable lease expense

 

10.3

 

 

 

9.0

 

 

 

6.6

 

Finance lease expense:

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

10.3

 

 

 

6.5

 

 

 

4.0

 

Interest on lease liabilities

 

3.8

 

 

 

2.6

 

 

 

1.0

 

Sublease income

 

(0.3

)

 

 

(0.3

)

 

 

(0.1

)

Total lease expense

$

57.3

 

 

$

50.7

 

 

$

41.5

 

Additional
Schedule of Additional Information Related to Leases information related to leases is presented in the table below:

 

Year Ended December 31,

 

Supplemental Cash Flows Information

2024

 

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows for operating leases

$

26.2

 

 

$

25.9

 

 

$

24.2

 

Operating cash flows for finance leases

 

3.8

 

 

 

2.6

 

 

 

1.0

 

Financing cash flows for finance leases

 

9.2

 

 

 

5.7

 

 

 

3.6

 

Non-cash right-of-use assets obtained in exchange for lease obligations:

 

 

 

 

 

 

 

 

Operating leases

 

19.3

 

 

 

13.9

 

 

 

29.3

 

Finance leases

 

16.3

 

 

 

25.2

 

 

 

11.6

 

Weighted Average Remaining Lease Term (in years):

 

 

 

 

 

 

 

 

Operating leases

 

8.6

 

 

 

8.9

 

 

 

9.3

 

Finance leases

 

4.3

 

 

 

4.7

 

 

 

4.5

 

Weighted Average Discount Rate (in %):

 

 

 

 

 

 

 

 

Operating leases

 

10.6

 

 

 

10.3

 

 

 

10.0

 

Finance leases

 

8.7

 

 

 

8.5

 

 

 

7.6

 

Schedule of Minimum Future Lease Payments under Non-cancellable Operating and Finance Leases

Minimum future lease payments under non-cancellable operating and finance leases described above were as follows:

Year ending December 31,

Operating Leases

 

 

Finance Leases

 

2025

$

25.7

 

 

$

13.9

 

2026

 

22.9

 

 

 

13.1

 

2027

 

21.4

 

 

 

11.5

 

2028

 

19.7

 

 

 

9.6

 

2029

 

15.1

 

 

 

5.7

 

Thereafter

 

79.2

 

 

 

0.9

 

Total future minimum lease payments

 

184.0

 

 

 

54.7

 

Less: imputed interest

 

(65.4

)

 

 

(8.7

)

Total

$

118.6

 

 

$

46.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Location

December 31, 2024

 

 

December 31, 2023

 

Current portion of long-term debt

$

10.5

 

 

$

7.7

 

Current operating lease liabilities

 

15.1

 

 

 

15.9

 

Finance lease obligations, net of current portion

 

35.5

 

 

 

31.1

 

Long-term operating lease liabilities, net of current portion

 

103.5

 

 

 

99.6

 

Total

$

164.6

 

 

$

154.3

 

Schedule of Minimum Rentals Receivable Approximate minimum rentals receivable, none of which are recorded in our Consolidated Balance Sheets, under such leases for each of the next five years are as follows:

Years ending December 31,

 

Amount

 

2025

 

$

7.3

 

2026

 

 

5.4

 

2027

 

 

2.5

 

2028

 

 

0.3

 

2029

 

 

0.1

 

Total

 

$

15.6