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COMMITMENTS AND LEASES (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Supplemental Cost Information Related to Leases
Supplemental cost information related to leases is shown below.
(In millions)202220212020
Operating lease costs$70.8 $68.8 $63.1 
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases is shown below.
(In millions)Balance Sheet Location20222021
Assets
OperatingOther assets$161.7 $183.0 
Finance(1)
Property, plant and equipment, net27.5 28.9 
Total leased assets$189.2 $211.9 
Liabilities
Current:
OperatingOther current liabilities$42.4 $47.3 
FinanceShort-term borrowings and current portion of long-term debt and finance leases5.4 5.5 
Non-current:
OperatingLong-term retirement benefits and other liabilities113.6 135.3 
FinanceLong-term debt and finance leases8.2 11.7 
Total lease liabilities$169.6 $199.8 
(1)
Finance lease assets are net of accumulated amortization of $12.4 million and $10.4 million as of December 31, 2022 and January 1, 2022, respectively.
Supplemental cash flow information related to leases
Supplemental cash flow information related to leases is shown below.
(In millions)202220212020
Cash paid for amounts included in the measurement of operating lease liabilities$60.5 $54.2 $54.9 
Operating lease assets obtained in exchange for operating lease liabilities37.2 58.0 48.4 
Schedule of weighted average remaining lease term and discount rate information
Weighted average remaining lease term and discount rate information related to leases as of December 31, 2022 and January 1, 2022 is shown below.
20222021
Weighted average remaining lease term (in years):
Operating5.96.5
Finance2.73.3
Weighted average discount rate (percentage):
Operating3.2 %3.0 %
Finance2.8 2.9 
Operating Lease Liabilities by Maturity Date
Operating and finance lease liabilities by maturity date from December 31, 2022 are shown below.
(In millions)Operating LeasesFinance Leases
2023$45.8 $5.8 
202435.4 5.4 
202527.8 2.1 
202618.8 .7 
202710.8 .2 
2028 and thereafter35.5 — 
Total lease payments174.1 14.2 
Less: imputed interest(18.1)(.6)
Present value of lease liabilities$156.0 $13.6 
Finance Lease Liabilities by Maturity Date
Operating and finance lease liabilities by maturity date from December 31, 2022 are shown below.
(In millions)Operating LeasesFinance Leases
2023$45.8 $5.8 
202435.4 5.4 
202527.8 2.1 
202618.8 .7 
202710.8 .2 
2028 and thereafter35.5 — 
Total lease payments174.1 14.2 
Less: imputed interest(18.1)(.6)
Present value of lease liabilities$156.0 $13.6