Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

Leases

As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows:

			Year Ended December 31,
(In millions, except percentage and year amounts)			2024			2023
Lease cost:
	Operating lease cost recognized as rent expense		$	13.7		$	12.0
	Total lease cost		$	13.7		$	12.0
		Other Information
Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows related to operating leases		$	13.5		$	11.8
Non-cash other information:
	Right-of-use assets obtained in exchange for new operating lease liabilities		$	12.2		$	19.3
			December 31,
			2024			2023
Weighted-average remaining lease term (in years):
	Operating leases		11			13
Weighted-average discount rate:
	Operating leases		3.81		%	3.37		%

Rent expense was $13.7 million, $12.0 million and $15.0 million in 2024, 2023 and 2022, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced.

At December 31, 2024, future lease payments under operating leases were as follows:

(In millions)	Operating Leases
2025	$	13.3
2026	11.2
2027	8.5
2028	6.5
2029	5.1
After 2029	23.1
	$	67.7
Less: Imputed interest	10.3
Present value of operating lease liabilities	57.4
Less: Current portion operating lease liabilities(a)	11.4
Noncurrent operating lease liabilities	$	46.0
(a) Included in Other current liabilities on the Consolidated Balance Sheets.

Leases

Leases

As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows:

			Year Ended December 31,
(In millions, except percentage and year amounts)			2024			2023
Lease cost:
	Operating lease cost recognized as rent expense		$	13.7		$	12.0
	Total lease cost		$	13.7		$	12.0
		Other Information
Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows related to operating leases		$	13.5		$	11.8
Non-cash other information:
	Right-of-use assets obtained in exchange for new operating lease liabilities		$	12.2		$	19.3
			December 31,
			2024			2023
Weighted-average remaining lease term (in years):
	Operating leases		11			13
Weighted-average discount rate:
	Operating leases		3.81		%	3.37		%

Rent expense was $13.7 million, $12.0 million and $15.0 million in 2024, 2023 and 2022, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced.

At December 31, 2024, future lease payments under operating leases were as follows:

(In millions)	Operating Leases
2025	$	13.3
2026	11.2
2027	8.5
2028	6.5
2029	5.1
After 2029	23.1
	$	67.7
Less: Imputed interest	10.3
Present value of operating lease liabilities	57.4
Less: Current portion operating lease liabilities(a)	11.4
Noncurrent operating lease liabilities	$	46.0
(a) Included in Other current liabilities on the Consolidated Balance Sheets.