LEASES

12 Months Ended

Dec. 31, 2023

The Company has operating and finance leases for office and warehouse facilities, headquarters, call centers, machinery and certain computer and communications equipment which provide the right to use the underlying assets in exchange for agreed upon lease payments, determined by the payment schedule contained in each lease. The Company’s lease portfolio consists primarily of operating leases which expire at various dates through 2032.

The Company's operating lease costs, included in continuing operations, was $17.0 million, $15.4 million and $13.9 million, for the years ended December 31, 2023, 2022 and 2021, respectively.

Information relating to operating leases for continuing and discontinued operations as of December 31, 2023 and, 2022:


	Year Ended December 31,
	2023			2022
Weighted Average Remaining Lease Term
Operating leases	7.2 years			8.2 years

Weighted Average Discount Rate
Operating leases	5.4		%	5.4		%

ROU assets obtained in exchange for operating and finance lease obligations	$	6.3		$	34.5

Maturities of lease liabilities were as follows (in millions):


Year Ending December 31	Operating Leases
2024	$	19.0
2025	17.8
2026	15.7
2027	11.9
2028	12.0
Thereafter	41.2
Total lease payments	117.6
Less: interest	(22.1)
Total present value of lease liabilities	$	95.5

The Company currently leases its headquarters office facility from an entity owned by the Company’s principal shareholders. Total rent expense recorded to related parties was $1.0 million in 2023, 2022 and 2021.

The Company has sublease agreements for unused facilities which expire at various dates through 2028. Total sublease income of $4.1 million, $2.7 million and $1.3 million was recorded for the years ended December 31, 2023, 2022 and 2021, respectively. Future rent streams related to sublease agreements consists of $4.9 million to be collected in less than one year, $8.6 million to be collected between one and three years and $1.7 million to be collected between three and five years.