Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Components of Lease Costs

Operating lease cost was $17.3 million, $16.8 million and $15.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. The components of lease costs are as follows:

	December 31,
(millions of dollars)	2024			2023			2022
Operating lease cost		$	17.3		$	16.7	$	15.6
Short-term lease cost			—			0.1		0.1
Total		$	17.3		$	16.8	$	15.7

Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases

Supplemental cash flow information and non-cash activity related to our leases are as follows:

(millions of dollars)	December 31, 2024
Operating cash flows information:
Cash paid for amounts included in the measurement of lease liabilities	$	18.2
Non-cash activity:
Right-of-use assets obtained in the exchange for operating lease liabilities	$	17.6

Weighted Average Remaining Lease Term and Discount Rates

Weighted average remaining lease term and weighted average discount rates related to the Company’s leases were as follows:

Weighted-average remaining operating lease term (in years)	5.30
Weighted-average operating leases discount rate	6.0	%

Outstanding Lease Assets and Liabilities

The following table summarizes the Company’s outstanding lease assets and liabilities and their classification on the Consolidated Balance Sheet:

		December 31,
(millions of dollars)	Balance Sheet Classification	2024		2023
Right-of-use-asset	Other assets and deferred charges	$	46.9	$	44.1
Lease liability - current	Other current liabilities		14.5		13.5
Lease liability - non-current	Other non-current liabilities		38.7		37.9

Future Minimum Lease Payments

Future minimum lease payments under the Company’s leases as of December 31, 2024 were as follows:

(millions of dollars)	December 31, 2024
2025	$	17.2
2026		14.7
2027		10.8
2028		8.4
2029		3.1
Thereafter		8.1
Total future minimum lease payments		62.3
Less imputed interest		(9.1	)
Total	$	53.2