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

The components of lease expense for the years ended December 31, 2023, 2022 and 2021 are summarized as follows:

 

 

2023

 

 

2022

 

 

2021

 

Operating lease cost

 

$

15.5

 

 

$

14.0

 

 

$

13.2

 

Variable lease cost*

 

 

1.2

 

 

 

1.4

 

 

 

1.5

 

Total lease cost

 

$

16.7

 

 

$

15.4

 

 

$

14.7

 

   *Includes short-term leases, which are immaterial.

 

 

 

 

 

 

 

Summary of Supplemental Consolidated Balance Sheet Information Related to Leases

Supplemental Consolidated Balance Sheet information related to leases as of December 31, 2023 and 2022 are summarized as follows:

 

 

2023

 

 

2022

 

Operating lease right-of-use assets

 

$

59.7

 

 

$

45.2

 

 

 

 

 

 

 

 

Other liabilities

 

$

13.0

 

 

$

11.6

 

Operating lease liabilities

 

 

47.2

 

 

 

34.3

 

Total operating lease liabilities

 

$

60.2

 

 

$

45.9

 

Summary of Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of December 31, 2023 are summarized as follows:

Year

 

 

 

2024

 

$

15.4

 

2025

 

 

13.4

 

2026

 

 

10.7

 

2027

 

 

9.8

 

2028

 

 

7.6

 

Thereafter

 

 

15.7

 

Total lease payments

 

 

72.6

 

Less: imputed interest

 

 

(12.4

)

Present value of lease liabilities

 

$

60.2