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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract] |
Schedule of minimum future rental payments under operating leases | At December 31, 2021, minimum future rental payments for the next five years and thereafter are as follows (in millions):
|  | Operating Leases |  | Finance Leases |  | Total
2022 |  | $ | 38.3 |  |  | $ | 1.6 |  |  | $ | 39.9 |
2023 |  | 38.8 |  |  | 1.6 |  |  | 40.4 |
2024 |  | 38.7 |  |  | 1.4 |  |  | 40.1 |
2025 |  | 38.8 |  |  | 1.3 |  |  | 40.1 |
2026 |  | 36.7 |  |  | 1.3 |  |  | 38.0 |
Thereafter |  | 468.5 |  |  | 45.4 |  |  | 513.9 |
Total |  | $ | 659.8 |  |  | $ | 52.6 |  |  | $ | 712.4 |
Present value adjustment for remaining lease payments (1) |  | (198.1) |  |  | (8.6) |  |  |
Total lease liability |  | $ | 461.7 |  |  | $ | 44.0 |  |  |
(1) The discount rates are specific for individual leases primarily based on the lease term. The range of discount rates used to calculate the present value of the operating lease payments is 0.41% to 5.50% and for finance lease payments is 0.54% to 5.50%. The weighted average discount rate was derived from estimated incremental borrowing rates based on our credit quality, as we did not have any borrowings at the balance sheet date with comparable terms to our lease agreements. At December 31, 2021, the weighted average discount rate for operating leases is 3.15% and the weighted average remaining lease term is 21.5 years. At December 31, 2021, the weighted average discount rate for finance leases is 3.55% and the weighted average remaining lease term is 22.8 years.

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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 http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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