Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Lease, Cost

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

(Dollars in Millions)	Jun 30, 2023		Dec 31, 2022
Operating Lease Right-of-Use Assets	$	37.5	$	45.1
Operating Lease Liabilities	61.8		72.6

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

	Six Months Ended				Three Months Ended
(Dollars in Millions)	Jun 30, 2023		Jun 30, 2022		Jun 30, 2023		Jun 30, 2022
Lease Cost:
Operating Lease Cost	$	7.9	$	11.4	$	3.8	$	5.8
Variable Lease Cost	2.2		0.1		2.1		—
Short-Term Lease Cost1	0.8		2.2		0.8		1.0
Total Lease Expense	$	10.9	$	13.7	$	6.7	$	6.8
Less: Sub-Lease Income	—		0.1		—		—
Total Lease Cost	$	10.9	$	13.6	$	6.7	$	6.8

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 leases for the six months ended June 30, 2023 and 2022 is as follows:

	Six Months Ended
(Dollars in Millions)	Jun 30, 2023		Jun 30, 2022
Operating Cash Flows from Operating Lease (Fixed Payments)	$	13.4	$	12.7
Operating Cash Flows from Operating Lease (Liability Reduction)	12.2		11.3
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities	2.4		6.6

As of June 30, 2023, the Company does not have any finance leases.

Significant judgments and assumptions for determining lease asset and liability at June 30, 2023 and 2022 are presented below.

	Six Months Ended
	Jun 30, 2023		Jun 30, 2022
Weighted-average Remaining Lease Term - Finance Leases	N/A		0.6 years
Weighted-average Remaining Lease Term - Operating Leases	5.6 years		5.7 years
Weighted-average Discount Rate - Finance Leases	N/A		0.6	%
Weighted-average Discount Rate - Operating Leases	3.7	%	3.4	%

Lessee, Operating Lease, Liability, to be Paid, Maturity

Future minimum lease payments under operating leases at June 30, 2023 are presented below. There are no significant future minimum lease payments under finance leases.

(Dollars in Millions)	Jun 30, 2023
Remainder of 2023	$	12.1
2024	18.5
2025	13.3
2026	6.7
2027	4.6
2028 and Thereafter	18.4
Total Future Payments	$	73.6
Less Imputed Interest	11.8
Present Value of Minimum Lease Payments	$	61.8