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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Balances and Classification of Operating Lease Right-of-Use Assets and Operating Lease Liabilities within Condensed Consolidated Balance Sheets The balances and classification of operating lease right-of-use assets and operating lease liabilities within the Consolidated Balance Sheets as of December 31, 2022 and 2021 is as follows:

 

(in millions)

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Balance Sheet

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

 

 

$

214.9

 

 

$

197.0

 

Total assets

 

Operating lease assets

 

 

214.9

 

 

 

197.0

 

Liabilities:

 

 

 

 

 

 

 

 

Current operating lease liabilities

 

Accrued expenses and other liabilities

 

 

45.0

 

 

 

43.4

 

Non-current operating lease liabilities

 

Operating lease liabilities

 

 

195.9

 

 

 

180.0

 

Total liabilities

 

 

 

$

240.9

 

 

$

223.4

 

Schedule of Components of Lease Cost for Operating Leases

The components of lease cost for operating leases for the twelve months ended December 31, 2022 and 2021 were:

 

(in millions)

 

 

 

For the year
ended December 31, 2022

 

 

For the year
ended December 31, 2021

 

Operating leases:

 

 

 

 

 

 

 

 

Lease cost

 

 

 

$

55.5

 

 

$

52.8

 

Variable lease cost

 

 

 

 

4.3

 

 

 

4.3

 

Short-term lease cost

 

 

 

 

0.9

 

 

 

1.1

 

Operating lease cost

 

 

 

 

60.7

 

 

 

58.2

 

Sublease income

 

 

 

 

(1.5

)

 

 

(1.6

)

Total lease cost net

 

 

 

$

59.2

 

 

$

56.6

 

Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate for Operating Leases

The weighted average remaining lease term and the weighted average discount rate for operating leases as of December 31, 2022 were:

 

Weighted average remaining lease term

 

 

6.4

 

Weighted average discount rate

 

 

3.0

 

Schedule of Maturities of Operating Lease Liabilities

Maturities of the operating lease liabilities by fiscal year at December 31, 2022 for the Company's operating leases are as follows:

 

(in millions)

 

Operating Leases

 

2023

 

$

51.9

 

2024

 

 

50.2

 

2025

 

 

43.3

 

2026

 

 

32.7

 

2027

 

 

25.9

 

Thereafter

 

 

61.8

 

Total undiscounted lease payments

 

 

265.8

 

Less: Imputed interest

 

 

24.9

 

Present value of future lease payments

 

$

240.9

 

 

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information for operating leases:

 

(in millions)

For the year
ended December 31, 2022

 

 

For the year
ended December 31, 2021

 

Cash paid for amounts included in measurement of liabilities

 

 

 

 

 

Operating cash flows from operating leases

$

58.2

 

 

$

56.0

 

Right-of-use assets obtained in exchange for new operating
   liabilities

$

71.0

 

 

$

54.0