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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Schedule of amounts recognized in the Condensed Consolidated Balance Sheet | Amounts recognized in the Consolidated Balance Sheet related to the Lease are included in the table below. Other than the Lease described above, the Company had no leases accounted for as finance leases as of December 31, 2022 and 2021.
|  |  |  | As of December 31,
(In millions) |  | Classification |  | 2022 |  | 2021
Finance lease right-of-use assets |  | Property, plant, and equipment, net(a) |  | $ | 620.3 |  |  | $ | 631.3 |
Finance lease liabilities |  | Finance lease liabilities |  | $ | 720.0 |  |  | $ | 719.7 |
(a) Finance lease right-of-use assets were recorded net of accumulated amortization of $119.4 million and $104.9 million as of December 31, 2022 and 2021, respectively.
Schedule of lease cost and other information | Finance lease costs consist of the following:
|  | Year Ended December 31,
(In millions) |  | 2022 |  | 2021
Amortization of right-of-use assets |  | $ | 14.5 |  |  | $ | 14.4 |
Interest on lease liabilities |  | 21.6 |  |  | 11.9 |
|  | $ | 36.1 |  |  | $ | 26.3 |
Other information related to the Company's finance lease includes the following:
|  | As of December 31,
|  | 2022 |  | 2021
Remaining lease term (in years) |  | 4.2 |  | 0.2
Discount rate |  | 4.84% |  | 1.68%
Schedule of maturities of finance lease liabilities | The following is a maturity analysis of the Company's finance lease liability:
(In millions) |  | As of December 31, 2022
2023 |  | $ | 44.9 |
2024 |  | 38.6 |
2025 |  | 31.3 |
2026 |  | 30.7 |
2027 |  | 727.9 |
Total undiscounted lease payments |  | 873.4 |
Imputed interest |  | (153.4) |
Total lease liability |  | $ | 720.0 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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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- 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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