XML 61 R40.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Components of Lease Expense
For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, lease expense (including immaterial short-term and variable lease costs) was as follows:
For the years ended
December 31, 2024December 31, 2023December 31, 2022
(In millions)
Operating lease expense$86.9 $81.3 $72.5 
Finance lease expense10.3 9.5 9.5 
Total lease expense$97.2 $90.8 $82.0 
Schedule of Supplemental Cash Flow Information
Supplemental cash flow information related to leases for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 was as follows:
For the years ended
December 31, 2024December 31, 2023December 31, 2022
(In millions)
Cash paid for amounts included in the measurements of lease liabilities
Operating cash flows for operating leases$51.6 $58.7 $52.5 
Operating cash flows for finance leases$3.8 $3.3 $3.6 
Financing cash flows for finance leases$6.7 $5.1 $4.4 
Supplemental non-cash information on right-of-use assets obtained in exchange for new lease liabilities
Operating leases$49.0 $115.7 $63.9 
Finance leases$26.3 $1.7 $3.8 
Schedule of Supplemental Balance Sheet Information
Supplemental balance sheet information related to leases as of December 31, 2024 and December 31, 2023 was as follows:
As of
December 31, 2024December 31, 2023
Balance Sheet Classification(In millions)
Operating Leases
Operating lease right-of-use assetsOther assets$189.0 $200.7 
Current operating lease liabilitiesAccounts payable and other current liabilities$46.7 $46.9 
Non-current operating lease liabilitiesOther liabilities161.5 163.9 
Total operating lease liabilities$208.2 $210.8 
Finance Leases
Finance lease right-of-use assetsProperty, plant and equipment, net$58.4 $46.4 
Current finance lease liabilitiesCurrent portion of long-term debt and short-term borrowings$9.9 $5.2 
Non-current finance lease liabilitiesLong-term debt56.9 48.5 
Total finance lease liabilities$66.8 $53.7 
The weighted-average remaining lease term and discount rate as of December 31, 2024 were as follows:
Weighted-Average Remaining Lease Term (Years)Weighted-Average Discount Rate
Operating leases7.15.2%
Finance leases7.56.3%
Schedule of Maturities of Finance Lease Liabilities
Based on foreign exchange rates as of December 31, 2024, maturities of lease liabilities were as follows:
Operating LeasesFinance Leases
(In millions)
2025$52.7 $13.0 
202647.5 16.9 
202731.6 9.0 
202823.2 8.6 
202917.7 7.7 
Thereafter79.6 30.0 
Total lease payments$252.3 $85.2 
Less: interest(44.1)(18.4)
Present value of lease liabilities$208.2 $66.8 
Schedule of Maturities of Operating Lease Liabilities
Based on foreign exchange rates as of December 31, 2024, maturities of lease liabilities were as follows:
Operating LeasesFinance Leases
(In millions)
2025$52.7 $13.0 
202647.5 16.9 
202731.6 9.0 
202823.2 8.6 
202917.7 7.7 
Thereafter79.6 30.0 
Total lease payments$252.3 $85.2 
Less: interest(44.1)(18.4)
Present value of lease liabilities$208.2 $66.8