Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Balances and Classification of Operating Lease Right-of-Use Assets and Operating Lease Liabilities within Condensed Consolidated Balance Sheet

The balances and classification of operating lease right-of-use assets and operating lease liabilities within the Condensed Consolidated Balance Sheet is as follows:

(in millions)		September 30, 2023		December 31, 2022
Assets:
Operating lease right-of-use assets	Operating lease assets	$	198.0	$	214.9
Total assets			198.0		214.9
Liabilities:
Current operating lease liabilities	Accrued expenses and other liabilities		45.4		45.0
Non-current operating lease liabilities	Operating lease liabilities		178.9		195.9
Total liabilities		$	224.3	$	240.9

Schedule of Components of Lease Cost for Operating Leases

The components of lease cost for operating leases for the three and nine months ended September 30, 2023 and 2022 were:

	Three months ended September 30,						Nine months ended September 30,
(in millions)	2023			2022			2023			2022
Operating leases:
Lease cost	$	14.1		$	14.5		$	42.7		$	40.8
Variable lease cost		1.2			1.0			3.4			3.2
Short-term lease cost		0.1			0.4			0.3			0.9
Operating lease cost	$	15.4		$	15.9		$	46.4		$	44.9
Sublease income		(0.2	)		(0.4	)		(1.0	)		(1.2	)
Total lease cost net	$	15.2		$	15.5		$	45.4		$	43.7

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 September 30, 2023 were:

Weighted average remaining lease term in years	6.00
Weighted average discount rate	3.30	%

Schedule of Maturities of Operating Lease Liabilities

Maturities of the operating lease liabilities by fiscal year at September 30, 2023 for the Company's operating leases are as follows:

(in millions)	Operating leases
2023 (Remainder)	$	10.3
2024		54.4
2025		47.4
2026		36.4
2027		29.5
Thereafter		69.6
Total undiscounted lease payments		247.6
Less: imputed interest		23.3
Present value of lease payments	$	224.3

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information for operating leases for the three and nine months ended September 30, 2023 and 2022:

	Three months ended September 30,				Nine months ended September 30,
(in millions)	2023		2022		2023		2022
Cash paid for amounts included in measurement of liabilities
Operating cash flows from operating leases	$	15.0	$	16.1	$	44.8	$	43.9
Right-of-use assets obtained in exchange for new operating liabilities	$	5.7	$	8.4	$	15.5	$	35.9