Leases (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Lease, Cost

The following table presents operating lease right-of-use assets and lease liabilities.

(Dollars in Millions)	Mar 31, 2022		Dec 31, 2021
Operating Lease Right-of-Use Assets	$	60.4	$	64.4
Operating Lease Liabilities	80.1		84.8

Lease expenses are primarily included in Insurance Expenses in the Condensed Consolidated Statement of Income. Additional information regarding the Company’s lease cost is presented below.

	Three Months Ended
(Dollars in Millions)	Mar 31, 2022		Mar 31, 2021
Lease Cost:
Amortization of Right-of-Use Assets - Finance Leases	$	—	$	0.1
Operating Lease Cost	5.6		5.1
Variable Lease Cost	0.1		—
Short-Term Lease Cost (1)	1.2		0.9
Total Lease Expense	$	6.9	$	6.1
Less: Sub-Lease Income	0.1		—
Total Lease Cost	$	6.8	$	6.1

(1) - Leases with an initial term of twelve months or less are not recorded on the Condensed Consolidated Balance Sheets.

Supplemental cash flow information related to the Company’s operating and finance leases for the three months ended March 31, 2022 and 2021 is as follows:

	Three Months Ended
(Dollars in Millions)	Mar 31, 2022		Mar 31, 2021
Operating Cash Flows from Operating Lease (Fixed Payments)	$	6.2	$	5.4
Operating Cash Flows from Operating Lease (Liability Reduction)	5.5		4.6
Financing Cash Flows from Finance Leases	—		0.1
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities	1.0		2.3

Significant judgments and assumptions for determining lease asset and liability at March 31, 2022 and 2021 are presented below.

	Three Months Ended
	Mar 31, 2022		Mar 31, 2021
Weighted-average Remaining Lease Term - Finance Leases	0.8 years		0.5 years
Weighted-average Remaining Lease Term - Operating Leases	5.8 years		6.6 years
Weighted-average Discount Rate - Finance Leases	0.6	%	4.0	%
Weighted-average Discount Rate - Operating Leases	3.4	%	4.0	%

Schedule of Future Minimum Lease Payments for Capital and Operating Leases

Future minimum lease payments under operating leases at March 31, 2022 are presented below. There are no significant future minimum lease payments under finance leases.

(Dollars in Millions)
Remainder of 2022	$	18.2
2023	21.7
2024	15.7
2025	10.2
2026	4.5
2027 and Thereafter	20.5
Total Future Payments	$	90.8
Less Imputed Interest	10.7
Present Value of Minimum Lease Payments	$	80.1