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Leases (Notes)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lessee, Operating Leases
LEASES
The Company’s lease portfolio primarily relates to real estate, which may be used for manufacturing or non-manufacturing purposes (e.g., office space), and contains lease terms generally ranging between one and 24 years. Our lease portfolio also includes vehicles and equipment. Substantially all of our leases are classified as operating leases.
Lease costs associated with fixed payments related to the Company's operating leases were $31.4, $30.2, and $26.6 for the years ended December 31, 2024, 2023 and 2022, respectively. Short-term lease costs, variable lease costs, and sublease income related to our operating leases, as well as total lease costs related to our finance leases, were not material for the years ended December 31, 2024, 2023 and 2022.
The following table displays our future lease obligations related to non-cancellable operating leases with an initial term in excess of 12 months as of December 31, 2024.
2025$26.8 
202623.7 
202717.3 
202811.8 
20299.0 
Thereafter23.0 
Total undiscounted future operating lease obligations111.6 
Less: imputed interest15.3 
Present value of future operating lease obligations(a)
$96.3 
(a)Includes $22.6 of current operating lease liabilities recorded within Accrued and other current liabilities and $73.7 of non-current operating lease liabilities recorded within Other non-current liabilities in our Consolidated Balance Sheets.
The following table includes other supplemental information regarding our operating leases.
As of or for the Year Ended December 3120242023
Operating cash outflows from operating leases(a)
$26.8 $24.5 
Right-of-use assets obtained in exchange for new operating lease liabilities$33.9 $32.5 
Weighted average remaining lease term (in years)6.16.1
Weighted average discount rate(b)
3.4 %3.4 %
(a)Included within Other, net in our Consolidated Statements of Cash Flows.
(b)We use a discount rate for each lease based on an estimated incremental borrowing rate over a similar term as the lease, as the discount rate implicit in each lease cannot be readily determined.