Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Lease, Cost

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

(Dollars in Millions)	Mar 31, 2024		Dec 31, 2023
Operating Lease Right-of-Use Assets	$	36.1	$	38.4
Operating Lease Liabilities	58.3		62.3

Lease expenses are primarily included in insurance expenses in the Condensed Consolidated Statements of Income (Loss). Additional information regarding the Company’s operating leases is presented below.

	Three Months Ended
(Dollars in Millions)	Mar 31, 2024		Mar 31, 2023
Lease Cost:
Operating Lease Cost	$	3.9	$	4.1
Variable Lease Cost	1.1		0.1
Short-Term Lease Cost1	—		—
Total Lease Expense	$	5.0	$	4.2
Total Lease Cost	$	5.0	$	4.2

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

Significant judgments and assumptions for determining lease asset and liability at March 31, 2024 and 2023 are presented below.

	Three Months Ended
	Mar 31, 2024		Mar 31, 2023
Weighted-average Remaining Lease Term - Operating Leases	5.5 years		5.6 years
Weighted-average Discount Rate - Operating Leases	4.3	%	3.6	%

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

Future minimum lease payments under operating leases at March 31, 2024 are presented below.

(Dollars in Millions)	March 31, 2024
Remainder of 2024	$	15.0
2025	15.7
2026	9.7
2027	7.4
2028	4.7
2029 and Thereafter	15.2
Total Future Payments	$	67.7
Less: Discount	9.4
Present Value of Minimum Lease Payments	$	58.3