Leases (Tables)

12 Months Ended

Dec. 31, 2024

Supplemental balance sheet disclosure leases

The components of lease assets and liabilities were as follows:


		December 31,
(In millions)	Balance sheet classification	2024		2023
Assets:
Operating lease assets	Right-of-use assets, net	$	354.9	$	337.7
Finance lease assets	Property and equipment, net	281.3		283.7
Total leased assets		$	636.2	$	621.4

Liabilities:
Current:
Operating	Accrued liabilities	$	78.2	$	79.5
Financing	Current maturities of long-term debt	61.4		57.5
Noncurrent:
Operating	Lease liabilities	278.6		265.8
Financing	Long-term debt	173.7		176.3
Total lease liabilities		$	591.9	$	579.1

Lease expenses

The components of lease expense were as follows:


	Years Ended December 31,
(In millions)	2024		2023		2022

Operating lease cost(a)	$	168.6	$	153.4	$	133.6
Short-term lease cost	23.3		25.5		28.9
Finance lease cost:
Amortization of related assets	52.4		44.5		37.9
Interest on related liabilities	17.5		14.0		10.1
Total lease cost	$	261.8	$	237.4	$	210.5

(a)Includes variable lease costs, which are immaterial.

Other information leases

Other information related to leases was as follows:


	Years Ended December 31,
(In millions, except for lease term and discount rate)	2024			2023			2022

Supplemental Cash Flows Information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	125.6		$	107.9		$	106.1
Operating cash flows from finance leases	17.5			14.0			10.1
Financing cash flows from finance leases	64.6			55.5			48.2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	132.2			104.3			101.0
Finance leases	75.1			92.0			65.7

Weighted Average Remaining Lease Term

Operating leases	6.2 years			6.5 years			6.3 years
Finance leases	4.2 years			4.7 years			4.7 years

Weighted Average Discount Rate

Operating leases	7.0		%	6.8		%	6.5		%
Finance leases	6.7		%	6.2		%	5.5		%

Operating lease future minimum lease payments

As of December 31, 2024, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:


(In millions)	Facilities		DRS Devices	Other	Total

2025	$	69.0	19.4	15.8	104.2
2026	57.0		17.1	10.6	84.7
2027	45.2		14.0	6.8	66.0
2028	36.9		9.6	3.4	49.9
2029	26.2		3.7	0.9	30.8
Later years	108.2		—	1.4	109.6
Total lease payments	$	342.5	63.8	38.9	445.2
Less: Interest	76.5		7.7	4.2	88.4
Present value of lease liabilities	$	266.0	56.1	34.7	356.8

Financing lease minimum repayments

As of December 31, 2024, minimum repayments of long-term debt under financing leases were as follows:


(In millions)

2025	$	74.2
2026	66.7
2027	48.9
2028	36.2
2029	19.7
Later years	31.4
Total finance lease payments	$	277.1
Less: Interest	42.0
Present value of finance lease liabilities	$	235.1