Leases (Notes)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Lessee, Operating Leases [Text Block]

Leases

As of December 31, 2024 and 2023, the majority of our operating leases, for which we serve as the lessee, consist primarily of real-estate property for our offices around the world, and we do not have a material amount of finance leases. Both the right-of-use asset and lease liability are measured at the present value of the future lease payments, with the asset being subject to adjustments such as initial direct costs, prepaid lease payments, and lease incentives. Many of our leases provide for renewal and/or termination options, as well as escalation clauses, which are also factored into our lease payments when appropriate. As of December 31, 2024, our leases have remaining lease terms of 1 year to 12 years. The discount rate used to measure the lease asset and liability is determined at the beginning of the lease term using the rate implicit in the lease, if readily determinable, or using the Company's collateralized credit-adjusted borrowing rate.

The following tables present information on our operating leases for the full years of 2024, 2023 and 2022.

	Years ended December 31,
	2024			2023			2022
Operating lease cost	$	266.1		$	268.4		$	290.7
Short-term lease cost	5.4			7.9			6.4
Sublease income	(30.1)			(26.4)			(23.8)
Total lease cost	$	241.4		$	249.9		$	273.3
Cash paid related to operating lease liabilities	$	302.6		$	299.5		$	320.9
Right-of-use assets obtained in exchange for lease liabilities	$	109.4		$	83.0		$	93.0
	As of December 31,
	2024			2023			2022
Weighted-average remaining lease term	Seven years			Seven years			Eight years
Weighted-average discount rate	3.81		%	3.63		%	3.51		%

Our future payments of our operating leases as of December 31, 2024 are listed in the table below.

Period	Payments
2025	$	279.9
2026	264.8
2027	230.5
2028	180.5
2029	147.1
Thereafter	362.8
Total future lease payments	1,465.6
Less: imputed interest	172.1
Present value of future lease payments	1,293.5
Less: current portion of operating leases	237.2
Non-current operating leases	$	1,056.3

As of December 31, 2024, we had no additional operating leases that had not yet commenced.