LEASES

3 Months Ended

Mar. 31, 2025

LEASES

LEASES

9.          LEASES

The Company’s leases are described in Note 9 to the Consolidated Financial Statements included in Part II, Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

Components of Lease Cost: Components of lease cost recorded in the Company’s Condensed Consolidated Statement of Income and Comprehensive Income for the three months ended March 31, 2025 and 2024 consisted of the following:

	Three Months Ended
	March 31,
(In millions)	2025		2024
Operating lease cost	$	38.2	$	35.9
Short-term lease cost		1.6		2.0
Variable lease cost		0.1		0.2
Total lease cost	$	39.9	$	38.1

Maturities of operating lease liabilities at March 31, 2025 are as follows:

	As of
Year (in millions)	March 31, 2025
Remainder of 2025	$	95.5
2026		98.6
2027		71.8
2028		21.8
2029		10.3
Thereafter		79.7
Total lease payments		377.7
Less: Interest		(52.3)
Present value of operating lease liabilities		325.4
Less: Short-term portion		(119.2)
Long-term operating lease liabilities	$	206.2