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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Lease Cost | Income statement presentation for these costs (when ultimately recognized on the income statement) is also included:
Year Ended December 31, (in millions) | Income Statement Classification | 2023 |  | 2022
Finance lease cost |  |  |  |
Amortization of right-of-use assets | Depreciation and amortization | $ | 32.0 |  |  | $ | 31.9 |
Interest on lease liabilities | Interest expense, net | 8.6 |  |  | 8.5 |
Total finance lease cost |  | 40.6 |  |  | 40.4 |
Operating lease cost | Operation and maintenance | 11.3 |  |  | 10.4 |
Total lease cost |  | $ | 51.9 |  |  | $ | 50.8 |
Right-of-Use Assets and Liabilities | Our right-of-use assets and liabilities are presented in the following lines on the Consolidated Balance Sheets:
At December 31, (in millions) | Balance Sheet Classification | 2023 |  | 2022
Assets |  |  |  |
Finance leases | Net Property, Plant and Equipment | $ | 184.3 |  |  | $ | 153.4 |
Operating leases | Deferred charges and other | 32.9 |  |  | 35.7
Total leased assets |  | $ | 217.2 |  |  | 189.1
Liabilities |  |  |  |
Current |  |  |  |
Finance leases | Current portion of long-term debt | $ | 23.8 |  |  | 30.0
Operating leases | Other accruals | 8.3 |  |  | 4.8
Noncurrent |  |  |  |
Finance leases | Long-term debt, excluding amounts due within one year | 181.6 |  |  | 144.7
Operating leases | Other noncurrent liabilities | 25.8 |  |  | 31.9
Total lease liabilities |  | $ | 239.5 |  |  | $ | 211.4 |
Lease Information | Other pertinent information related to leases was as follows:
Year Ended December 31, (in millions) | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows used for finance leases | $ | 9.3 |  |  | $ | 8.6 |
Operating cash flows used for operating leases | 11.1 |  |  | 10.3
Financing cash flows used for finance leases | 33.1 |  |  | 30.3
Right-of-use assets obtained in exchange for lease obligations |  |  |
Finance leases | 64.5 |  |  | 19.3
Operating leases | $ | 5.6 |  |  | $ | 8.8 |
| December 31, 2023 |  | December 31, 2022
Weighted-average remaining lease term (years) |  |  |
Finance leases | 16.4 |  | 9.9
Operating leases | 6.7 |  | 7.7
Weighted-average discount rate |  |  |
Finance leases | 5.5 | % |  | 5.1 | %
Operating leases | 4.3 | % |  | 4.0 | %
Lease Maturity | Maturities of our lease liabilities as of December 31, 2023 were as follows:
As of December 31, 2023, (in millions) | Total | Finance Leases | Operating Leases
2024 | $ | 44.4 |  | $ | 34.8 |  | $ | 9.6 |
2025 | 36.6 |  | 30.7 |  | 5.9 |
2026 | 31.1 |  | 25.7 |  | 5.4 |
2027 | 25.2 |  | 20.6 |  | 4.6 |
2028 | 22.5 |  | 19.3 |  | 3.2 |
Thereafter | 201.7 |  | 190.7 |  | 11.0 |
Total lease payments | 361.5 |  | 321.8 |  | 39.7 |
Less: Imputed interest | (122.0) |  | (116.4) |  | (5.6) |
Total | $ | 239.5 |  | $ | 205.4 |  | $ | 34.1 |
Reported as of December 31, 2023 |  |  |
Short-term lease liabilities | 32.1 |  | 23.8 |  | 8.3 |
Long-term lease liabilities | 207.4 |  | 181.6 |  | 25.8 |
Total lease liabilities | $ | 239.5 |  | $ | 205.4 |  | $ | 34.1 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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