Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease Cost

The components of lease cost recorded in our consolidated statements of income were as follows:

	2023		2022		2021
	(in millions)
Operating lease cost	$	47.8	$	35.3	$	33.9
Finance lease cost
Amortization of leased assets	42.7		51.0		51.9
Interest on lease liabilities	38.8		43.5		47.4
Variable lease cost	44.6		39.8		33.6
Sublease income	(2.7)		(2.7)		(0.4)
Net lease cost	$	171.2	$	166.9	$	166.4

Schedule of Components of Lease in Balance Sheets

Our leases are included on our consolidated balance sheets as follows:

	As of December 31,
	2023		2022
	(in millions)
Finance leases
Property and equipment, net	$	272.8	$	315.5
Total finance lease assets	$	272.8	$	315.5
Other current liabilities	$	50.6	$	40.8
Long-term finance lease liabilities	376.1		430.8
Total finance lease liabilities	$	426.7	$	471.6
Operating leases
Operating lease assets	$	293.6	$	347.4
Total operating lease assets	$	293.6	$	347.4
Other current liabilities	$	33.1	$	48.6
Long-term operating lease liabilities	348.6		379.5
Total operating lease liabilities	$	381.7	$	428.1

Schedule of Finance Lease, Liability, Maturity

Maturities of our finance and operating lease liabilities as of December 31, 2023 were as follows:

Year	Finance Leases		Operating Leases		Total
	(in millions)
2024	$	81.4	$	42.1	$	123.5
2025	89.0		41.4		130.4
2026	89.3		40.4		129.7
2027	89.7		36.5		126.2
2028	90.1		33.5		123.6
Thereafter	143.5		242.2		385.7
Total lease payments	583.0		436.1		1,019.1
Less: amount representing interest	(156.3)		(54.4)		(210.7)
Present value of lease liabilities	$	426.7	$	381.7	$	808.4

Schedule of Operating Lease, Liability, Maturity

Maturities of our finance and operating lease liabilities as of December 31, 2023 were as follows:

Year	Finance Leases		Operating Leases		Total
	(in millions)
2024	$	81.4	$	42.1	$	123.5
2025	89.0		41.4		130.4
2026	89.3		40.4		129.7
2027	89.7		36.5		126.2
2028	90.1		33.5		123.6
Thereafter	143.5		242.2		385.7
Total lease payments	583.0		436.1		1,019.1
Less: amount representing interest	(156.3)		(54.4)		(210.7)
Present value of lease liabilities	$	426.7	$	381.7	$	808.4

Schedule of Weighted-Average Remaining Lease Terms and Discount Rates

The weighted-average remaining lease terms and discount rates related to our leases were as follows:

	As of December 31,
	2023		2022
Weighted-average remaining lease term (in years)
Finance leases	10.06		10.60
Operating leases	11.24		11.57
Weighted-average discount rate
Finance leases	8.20	%	8.36	%
Operating leases	2.42	%	2.46	%

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information related to our leases was as follows:

	2023		2022		2021
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	62.8	$	50.8	$	21.5
Operating cash flows from finance leases	$	38.4	$	42.5	$	46.2
Financing cash flows from finance leases	$	44.9	$	85.5	$	47.0
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	2.4	$	58.6	$	36.3