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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Components of Lease Expense

The components of lease expense are as follows (in millions):

 

 

 

Statement of Earnings

 

Year ended

 

Lease Components

 

Classification

 

December 31, 2023

 

Operating lease expense

 

Operating expense

 

$

135.1

 

Variable lease expense

 

Operating expense

 

 

26.0

 

Sublease income

 

Investment income

 

 

(1.3

)

   Total net lease expense

 

 

 

$

159.8

 

Summary of Supplemental Cash Flow Information Related to Leases

 

 

Year ended

 

Supplemental Cash Flow Information Related to Leases (in millions)

 

December 31, 2023

 

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

 

 

 

Operating cash flows from operating leases

 

$

125.1

 

Right-of-use assets obtained in exchange for new
   operating lease liabilities

 

$

150.1

 

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows (in millions, except lease term and discount rate):

 

Lease Components

 

Balance Sheet Classification

 

December 31, 2023

 

Lease right-of-use assets

 

Right-of-use assets

 

$

400.3

 

Other current lease liabilities

 

Accrued compensation and other current liabilities

 

 

84.2

 

Lease liabilities

 

Lease liabilities - noncurrent

 

 

352.2

 

Total lease liabilities

 

 

 

$

436.4

 

Weighted-average remaining lease term, years

 

 

 

 

5.4

 

Weighted-average discount rate

 

 

 

 

4.2

%

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities for each of the next five years and thereafter are as follows (in millions):

 

2024

 

$

108.9

 

2025

 

 

100.4

 

2026

 

 

84.0

 

2027

 

 

67.6

 

2028

 

 

50.6

 

Thereafter

 

 

81.8

 

Total lease payments

 

 

493.3

 

Less interest

 

 

(56.9

)

Total

 

$

436.4