LEASES

12 Months Ended

Dec. 31, 2025

The Company has operating and finance leases for PSCs, laboratories and testing facilities, clinical facilities, general office spaces, vehicles, and office and laboratory equipment. Leases have remaining lease terms of less than a year to approximately 20 years, some of which include options to extend the leases for up to an additional 20 years.

The components of lease expense were as follows:


	Year Ended December 31,
	2025		2024		2023
Operating lease cost	$	240.7	$	220.9	$	202.6

Finance lease cost:
Amortization of ROU assets	$	5.5	$	7.5	$	7.1
Interest on lease liabilities	3.6		4.4		4.8
Total finance lease cost	$	9.1	$	11.9	$	11.9

Supplemental cash flow information related to leases was as follows:


	Year Ended December 31,
	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used from operating leases	$	(245.1)	$	(229.7)	$	(209.7)
Operating cash flows used from finance leases	$	(3.6)	$	(4.4)	$	(4.8)
Financing cash flows used from finance leases	$	(8.8)	$	(11.9)	$	(12.6)

ROU assets obtained in exchange for lease obligations:
Operating leases	$	63.0	$	226.8	$	106.4
Finance leases	$	0.2	$	23.9	$	2.3

Supplemental balance sheet information related to leases was as follows:


	December 31,
	2025			2024
Operating Leases:
Operating lease ROU assets (included in Property, plant, and equipment, net)	$	803.9		$	784.5

Short-term operating lease liabilities	$	191.1		$	184.6
Operating lease liabilities	682.6			676.3
Total operating lease liabilities	$	873.7		$	860.9


Finance Leases:

Finance lease ROU assets (included in Other assets, net)	$	52.8		$	64.1

Short-term finance lease liabilities	$	4.6		$	6.1
Financing lease liabilities	63.0			74.3
Total finance lease liabilities	$	67.6		$	80.4

Weighted-average Remaining Lease Term (in Years):
Operating leases	8.1			8.2
Finance leases	14.4			14.1

Weighted-average Discount Rate:
Operating leases	4.5		%	4.4		%
Finance leases	5.1		%	5.2		%

Maturities of lease liabilities were as follows:


	December 31, 2025
	Operating Leases		Finance Leases
2026	$	224.1	$	7.9
2027	171.8		7.4
2028	126.7		6.8
2029	92.8		6.5
2030	79.1		6.4
Thereafter	350.9		61.4
Total lease payments	1,045.4		96.4
Less imputed interest	(171.7)		(28.8)
Less current portion	(191.1)		(4.6)
Total maturities, due beyond one year	$	682.6	$	63.0

The Company elected, for all classes of underlying assets, to account for lease components and non-lease components as a single lease component.

Rent expense for short-term leases for the years ended December 31, 2025, 2024, and 2023 amounted to $37.7, $31.1, $31.9, respectively. The Company has variable lease payments that do not depend on a rate index, primarily for purchase

volume commitments, which are recorded as variable cost when incurred. Total variable payments for the year ended December 31, 2025, 2024, and 2023 were $24.6, $32.4, and $32.7, respectively.