Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Leases

We lease facilities, vehicles and equipment under the operating lease agreements, which include both monthly and longer-term arrangements.

Certain operating leases for vehicles contain residual value guarantee provisions, which would become due at the expiration of the operating lease agreement if the fair value of the leased vehicles is less than the guaranteed residual value. As of December 31, 2022, of those leases that contain residual value guarantees, the aggregate residual value at lease expiration was $11.4 million, of which we have guaranteed $5.5 million.

The lease assets and liabilities as of December 31 are as follows:

Leases	Classification	2022		2021
Assets
Operating lease assets	Operating lease assets	$	31.8	$	41.3
Finance lease assets	Property, plant and equipment(a)	0.2		0.1
Total leased assets		$	32.0	$	41.4
Liabilities
Current:
Operating	Other current liabilities	$	15.0	$	16.4
Finance	Current portion of long-term debt	—		—
Noncurrent:
Operating	Long-term operating lease liabilities	17.1		25.4
Finance	Long-term debt	0.1		0.1
Total lease liabilities		$	32.2	$	41.9

(a) Finance lease assets are recorded net of accumulated amortization of less than $0.1 million as of December 31, 2022 and December 31, 2021.

The lease cost for the three years ended December 31 was as follows:

Lease Cost	2022		2021		2020
Operating lease cost(a)	$	26.2	$	26.6	$	25.1
Finance lease cost(b)	0.1		0.1		0.2
Total lease cost	$	26.3	$	26.7	$	25.3

(a) Includes short-term lease costs of $4.8 million and $4.0 million and variable lease costs of $3.3 million and $2.2 million for the years ended December 31, 2022 and December 31, 2021, respectively.

(b) Includes amortization of leased assets and interest on lease liabilities.

The maturity of lease liabilities as of December 31, 2022 was as follows:

Maturity of Lease Liabilities	Operating Leases		Finance Leases		Total
2023	$	15.6	$	—	$	15.6
2024	9.5		0.1		9.6
2025	4.5		—		4.5
2026	1.8		—		1.8
2027	1.0		—		1.0
Thereafter	1.2		—		1.2
Total lease payments	$	33.6	$	0.1	$	33.7
Less: Interest	(1.5)		—		(1.5)
Present value of lease liabilities	$	32.1	$	0.1	$	32.2

The lease term and discount rate as of December 31 were as follows:

Lease Term and Discount Rate	2022	2021
Weighted-average remaining lease term (years):
Operating leases	2.9	3.0
Finance leases	4.1	4.2
Weighted-average discount rate:
Operating leases	3.9%	3.5%
Finance leases	2.5%	2.2%

Other information related to cash paid related to lease liabilities and lease assets obtained for the years ended December 31 was as follows:

Other Information	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18.2	$	20.2
Financing cash flows from finance leases	0.1		0.1
Lease assets obtained in exchange for new finance lease liabilities	0.3		0.1
Lease assets obtained in exchange for new operating lease liabilities	11.4		15.7

Leases

Leases

We lease facilities, vehicles and equipment under the operating lease agreements, which include both monthly and longer-term arrangements.

Certain operating leases for vehicles contain residual value guarantee provisions, which would become due at the expiration of the operating lease agreement if the fair value of the leased vehicles is less than the guaranteed residual value. As of December 31, 2022, of those leases that contain residual value guarantees, the aggregate residual value at lease expiration was $11.4 million, of which we have guaranteed $5.5 million.

The lease assets and liabilities as of December 31 are as follows:

Leases	Classification	2022		2021
Assets
Operating lease assets	Operating lease assets	$	31.8	$	41.3
Finance lease assets	Property, plant and equipment(a)	0.2		0.1
Total leased assets		$	32.0	$	41.4
Liabilities
Current:
Operating	Other current liabilities	$	15.0	$	16.4
Finance	Current portion of long-term debt	—		—
Noncurrent:
Operating	Long-term operating lease liabilities	17.1		25.4
Finance	Long-term debt	0.1		0.1
Total lease liabilities		$	32.2	$	41.9

(a) Finance lease assets are recorded net of accumulated amortization of less than $0.1 million as of December 31, 2022 and December 31, 2021.

The lease cost for the three years ended December 31 was as follows:

Lease Cost	2022		2021		2020
Operating lease cost(a)	$	26.2	$	26.6	$	25.1
Finance lease cost(b)	0.1		0.1		0.2
Total lease cost	$	26.3	$	26.7	$	25.3

(a) Includes short-term lease costs of $4.8 million and $4.0 million and variable lease costs of $3.3 million and $2.2 million for the years ended December 31, 2022 and December 31, 2021, respectively.

(b) Includes amortization of leased assets and interest on lease liabilities.

The maturity of lease liabilities as of December 31, 2022 was as follows:

Maturity of Lease Liabilities	Operating Leases		Finance Leases		Total
2023	$	15.6	$	—	$	15.6
2024	9.5		0.1		9.6
2025	4.5		—		4.5
2026	1.8		—		1.8
2027	1.0		—		1.0
Thereafter	1.2		—		1.2
Total lease payments	$	33.6	$	0.1	$	33.7
Less: Interest	(1.5)		—		(1.5)
Present value of lease liabilities	$	32.1	$	0.1	$	32.2

The lease term and discount rate as of December 31 were as follows:

Lease Term and Discount Rate	2022	2021
Weighted-average remaining lease term (years):
Operating leases	2.9	3.0
Finance leases	4.1	4.2
Weighted-average discount rate:
Operating leases	3.9%	3.5%
Finance leases	2.5%	2.2%

Other information related to cash paid related to lease liabilities and lease assets obtained for the years ended December 31 was as follows:

Other Information	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18.2	$	20.2
Financing cash flows from finance leases	0.1		0.1
Lease assets obtained in exchange for new finance lease liabilities	0.3		0.1
Lease assets obtained in exchange for new operating lease liabilities	11.4		15.7