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Leases (Tables)

12 Months Ended

Dec. 31, 2023

Lease receivables relating to sales-type lease arrangements are presented on the Consolidated Balance Sheets as follows (in millions):


	December 31,
	2023		2022
Gross lease receivables	$	384.5	$	449.4
Unearned income	(12.9)		(14.4)
Subtotal	371.6		435.0
Allowance for credit loss	(2.7)		(3.0)
Net investment in sales-type leases	$	368.9	$	432.0

Reported as:
Prepaids and other current assets	$	137.3	$	131.2
Intangible and other assets, net	231.6		300.8
Net investment in sales-type leases	$	368.9	$	432.0

Schedule of Contractual Maturities of Gross Lease Receivables

Contractual maturities of gross lease receivables as of December 31, 2023, are as follows (in millions):


Fiscal Year	Amount
2024	$	143.3
2025	113.0
2026	74.1
2027	39.8
2028	10.9
2029 and thereafter	3.4
Total	$	384.5

Schedule of Operating Lease Payments

Future lease payments (excluding non-lease elements and contingent payments related to usage-based arrangements) related to the non-cancellable portion of operating leases as of December 31, 2023, are as follows (in millions):


Fiscal Year	Amount
2024	$	277.2
2025	232.3
2026	169.4
2027	103.0
2028	43.6
2029 and thereafter	11.2
Total	$	836.7

Supplemental Cash Flow and Balance Sheet Information

Supplemental cash flow information for the years ended December 31, 2023, 2022, and 2021 related to operating leases was as follows (in millions):


	Years Ended December 31,
	2023		2022		2021
Cash paid for leases that were included within operating cash outflows	$	30.2	$	33.8	$	23.2
Right-of-use assets recognized related to new lease obligations	$	27.8	$	34.0	$	30.6

Supplemental Balance Sheet Information

Supplemental balance sheet information, as of December 31, 2023, and 2022, related to operating leases was as follows (in millions, except lease term and discount rate):


	December 31,
	2023		2022
Intangible and other assets, net (Right-of-use assets)	$	79.3	$	82.2

Other accrued liabilities	$	25.3	$	24.2
Other long-term liabilities	64.5		69.6
Total lease liabilities	$	89.8	$	93.8

Weighted-average remaining lease term	3.7 years		4.5 years
Weighted-average discount rate	3.4%		3.0%

Schedule of Maturities of Operating Lease Liabilities

As of December 31, 2023, the future payments related to the Company’s operating lease liabilities are scheduled as follows (in millions):


Fiscal Year	Amount
2024	$	27.4
2025	27.1
2026	22.9
2027	9.7
2028	5.9
2029 and thereafter	3.1
Total lease payments	96.1
Less: imputed interest	(6.3)
Total operating lease liabilities	$	89.8