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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Assets and Liabilities

Leases (in millions)

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Assets

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

 

 

$

139.7

 

 

$

184.8

 

Liabilities

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Current operating lease liabilities

 

 

 

$

53.1

 

 

$

76.5

 

Noncurrent

 

 

 

 

 

 

 

 

Operating lease liabilities

 

 

 

 

94.6

 

 

 

118.9

 

Total lease liabilities

 

 

 

$

147.7

 

 

$

195.4

 

Summary of Lease Cost

Lease Cost (in millions)

 

 

 

Year Ended December 31, 2022

 

 

Year Ended December 31, 2021

 

Operating lease cost(a)

 

 

 

$

95.7

 

 

$

133.3

 

Short-term cost(b)

 

 

 

27.3

 

 

30.1

 

Variable lease cost(b)

 

 

 

9.6

 

 

10.8

 

Total lease cost

 

 

 

$

132.6

 

 

$

174.2

 

(a)
Operating lease cost represent non-cash amortization of ROU assets and accretion of the discounted lease liabilities and is segregated on the statement of consolidated cash flows.
(b)
These costs are classified as operating expense and recorded primarily within purchased transportation.
Summary of Remaining Maturities of Lease Liabilities

Remaining Maturities of Lease Liabilities (in millions)

 

Operating Leases

 

2023

 

$

67.0

 

2024

 

 

34.6

 

2025

 

 

23.1

 

2026

 

 

18.8

 

2027

 

 

15.5

 

After 2027

 

 

39.6

 

Total lease payments

 

$

198.6

 

Less: Imputed interest

 

 

50.9

 

Present value of lease liabilities

 

$

147.7

 

Summary of Lease Term and Discount Rate

Lease Term and Discount Rate

 

2022

 

 

2021

 

Weighted-average remaining lease term - operating leases (years)

 

 

5.4

 

 

 

4.0

 

Weighted-average discount rate - operating leases

 

 

10.7

%

 

 

11.6

%

Summary Of Other Information

Other Information (in millions)

Year Ended December 31, 2022

 

Year Ended December 31, 2021

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

Operating cash flows from operating leases

$

95.3

 

$

136.3

 

Leased assets obtained in exchange for new operating lease liabilities

 

7.7

 

 

18.3