Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Asset and lease liability

The ROU asset and lease liability balances as of September 30, 2022 and December 31, 2021 were as follows:

(in Millions)	Classification	September 30, 2022		December 31, 2021
Assets
Operating lease ROU assets	Other assets including long-term receivables, net	$	123.9	$	135.2
Liabilities
Operating lease current liabilities	Accrued and other liabilities	$	22.5	$	23.5
Operating lease noncurrent liabilities	Other long-term liabilities	127.5		140.0

Components of lease expense, lease term and discount rate

The components of lease expense for the three and nine months ended September 30, 2022 and 2021 were as follows:

		Three Months Ended September 30,				Nine Months Ended September 30,
(in Millions)	Lease Cost Classification	2022		2021		2022		2021
Lease Cost
Operating lease cost	Costs of sales and services / Selling, general and administrative expenses	$	8.5	$	8.3	$	25.3	$	25.6
Variable lease cost	Costs of sales and services / Selling, general and administrative expenses	1.8		1.2		4.4		3.6
Total lease cost		$	10.3	$	9.5	$	29.7	$	29.2

	September 30, 2022
Operating Lease Term and Discount Rate
Weighted-average remaining lease term (years)	8.6
Weighted-average discount rate	4.0	%

	Three Months Ended September 30,				Nine Months Ended September 30,
(in Millions)	2022		2021		2022		2021
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(8.1)	$	(7.9)	$	(25.2)	$	(25.5)
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	5.4	$	0.8	$	15.5	$	16.7

Future minimum lease payments

The following table represents our future minimum operating lease payments as of, and subsequent to, September 30, 2022 under ASC 842:

(in Millions)	Operating Leases Total
Maturity of Lease Liabilities
2022 (excluding the nine months ending September 30, 2022)	$	7.5
2023	26.0
2024	21.0
2025	19.1
2026	17.6
Thereafter	89.6
Total undiscounted lease payments	$	180.8
Less: Present value adjustment	(30.8)
Present value of lease liabilities	$	150.0