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Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Components of Lease Costs | The components of lease costs were as follows (in millions):
| Year Ended December 31, |  |  | Three Months Ended December 31, (transition period) |  |  | Year Ended September 30, |
| 2022 |  |  | 2021 |  |  | 2021 |  |  | 2020 |
Operating lease cost | $ | 54.0 |  |  | $ | 13.9 |  |  | $ | 53.3 |  |  | $ | 57.4 |
Variable lease cost |  | 31.9 |  |  |  | 7.1 |  |  |  | 34.0 |  |  |  | 46.1 |
Short-term lease cost |  | 11.1 |  |  |  | 2.5 |  |  |  | 9.5 |  |  |  | 8.4 |
Summary of Supplemental Information Related to Leases | Supplemental information related to leases was as follows (in millions):
|  |  |  | December 31, 2022 |
|  | Balance Sheet Classification |  | Finance leases |  |  | Operating leases |  |  | Total |
Lease right of use assets |  | Other long-term assets |  | $ | 28.0 |  |  | $ | 209.2 |  |  | $ | 237.2 |
Current lease liabilities |  | Other current liabilities |  |  | 9.9 |  |  |  | 44.6 |  |  |  | 54.5 |
Long-term lease liabilities |  | Other long-term liabilities |  |  | 18.7 |  |  |  | 174.7 |  |  |  | 193.4 |
Weighted average remaining lease term |  |  |  | 4.0 years |  |  | 7.9 years |  |  |  |
Weighted average discount rates |  |  |  |  | 2.5 | % |  |  | 3.4 | % |  |  |
|  |  |  | December 31, 2021 |
|  | Balance Sheet Classification |  | Finance leases |  |  | Operating leases |  |  | Total |
Lease right of use assets |  | Other long-term assets |  | $ | 29.6 |  |  | $ | 204.5 |  |  | $ | 234.1 |
Current lease liabilities |  | Other current liabilities |  |  | 9.0 |  |  |  | 42.1 |  |  |  | 51.1 |
Long-term lease liabilities |  | Other long-term liabilities |  |  | 21.1 |  |  |  | 169.1 |  |  |  | 190.2 |
Weighted average remaining lease term |  |  |  | 3.6 years |  |  | 7.6 years |  |  |  |
Weighted average discount rates |  |  |  |  | 1.8 | % |  |  | 2.8 | % |  |  |
|  |  |  | September 30, 2021 |
|  | Balance Sheet Classification |  | Finance leases |  |  | Operating leases |  |  | Total |
Lease right of use assets |  | Other long-term assets |  | $ | 22.2 |  |  | $ | 194.7 |  |  | $ | 216.9 |
Current lease liabilities |  | Other current liabilities |  |  | 6.9 |  |  |  | 39.3 |  |  |  | 46.2 |
Long-term lease liabilities |  | Other long-term liabilities |  |  | 15.6 |  |  |  | 160.8 |  |  |  | 176.4 |
Weighted average remaining lease term |  |  |  | 3.5 years |  |  | 8 years |  |  |  |
Weighted average discount rates |  |  |  |  | 1.9 | % |  |  | 2.9 | % |  |  |
Summary Right of Use Assets Balance for Operating Leases by Segment | The table below presents the right of use asset balance for operating leases disaggregated by segment and type of lease (in millions):
|  | December 31, 2022 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Corporate and intersegment eliminations |  |  | Total |
Real estate leases |  | $ | 77.2 |  |  | $ | 45.7 |  |  | $ | 10.0 |  |  | $ | 52.9 |  |  | $ | 9.6 |  |  | $ | 195.4 |
Equipment leases |  |  | 3.6 |  |  |  | 1.1 |  |  |  | 1.1 |  |  |  | 1.5 |  |  |  | 6.5 |  |  |  | 13.8 |
|  | $ | 80.8 |  |  | $ | 46.8 |  |  | $ | 11.1 |  |  | $ | 54.4 |  |  | $ | 16.1 |  |  | $ | 209.2 |
|  | December 31, 2021 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Corporate and intersegment eliminations |  |  | Total |
Real estate leases |  | $ | 92.4 |  |  | $ | 52.6 |  |  | $ | 12.2 |  |  | $ | 16.9 |  |  | $ | 11.6 |  |  | $ | 185.7 |
Equipment leases |  |  | 4.5 |  |  |  | 1.8 |  |  |  | 1.5 |  |  |  | 2.2 |  |  |  | 8.8 |  |  |  | 18.8 |
|  | $ | 96.9 |  |  | $ | 54.4 |  |  | $ | 13.7 |  |  | $ | 19.1 |  |  | $ | 20.4 |  |  | $ | 204.5 |
|  | September 30, 2021 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Corporate and intersegment eliminations |  |  | Total |
Real estate leases |  | $ | 84.3 |  |  | $ | 55.6 |  |  | $ | 6.2 |  |  | $ | 15.9 |  |  | $ | 12.2 |  |  | $ | 174.2 |
Equipment leases |  |  | 5.5 |  |  |  | 2.0 |  |  |  | 1.7 |  |  |  | 2.5 |  |  |  | 8.8 |  |  |  | 20.5 |
|  | $ | 89.8 |  |  | $ | 57.6 |  |  | $ | 7.9 |  |  | $ | 18.4 |  |  | $ | 21.0 |  |  | $ | 194.7 |
Schedule of Maturities and Minimum Payments of Operating Lease Liabilities | Maturities of operating lease liabilities at December 31, 2022 and minimum payments for operating leases having initial or remaining non-cancelable terms in excess of one year were as follows (in millions):
Amounts due in |  |  |
2023 |  | $ | 53.4 |
2024 |  |  | 32.3 |
2025 |  |  | 28.4 |
2026 |  |  | 22.8 |
2027 |  |  | 22.3 |
Thereafter |  |  | 96.7 |
Total lease payments |  |  | 255.9 |
Less: imputed interest |  |  | (36.6 | )
Present value of lease liability |  | $ | 219.3 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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