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Leases | 12 Months Ended
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Dec. 31, 2024
Leases |
Leases | Note 11. Leases ​ Our metals service center leases are comprised of processing and distribution facilities, equipment, automobiles, trucks and trailers, ground leases and other leased spaces, such as depots, sales offices, storage and data centers. We also lease various office spaces. Our leases of facilities and other spaces expire at various times through 2045, and our ground leases expire at various times through 2068. Nearly all of our leases are operating leases; we have an insignificant amount of recognized finance right-of-use assets and obligations. ​ The following is a summary of our lease cost: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
​ | 2024 |  | 2023 |  | 2022
​ | (in millions)
Operating lease cost | $ | 75.1 | ​ | $ | 68.8 | ​ | $ | 68.2
Variable fees and other(1) | ​ | 30.9 | ​ | ​ | 28.6 | ​ | ​ | 23.2
Total lease cost | $ | 106.0 | ​ | $ | 97.4 | ​ | $ | 91.4
(1) | Includes variable lease payments and costs of short-term leases.
​ ​ Supplemental cash flow and balance sheet information is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
​ | 2024 |  | 2023 |  | 2022
​ | (in millions)
Supplemental cash flow information: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash payments for operating leases | $ | 74.8 | ​ | $ | 95.2 | ​ | $ | 86.9
Right-of-use assets obtained in exchange for operating lease obligations | $ | 87.7 | ​ | $ | 74.7 | ​ | $ | 52.4
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | December 31, | ​ | December 31,
​ | ​ | ​ | ​ | 2024 | ​ | 2023
Other lease information: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average remaining lease term—operating leases | ​ | ​ | ​ | ​ | 6.3 years | ​ | ​ | 5.8 years
Weighted average discount rate—operating leases | ​ | ​ | ​ | ​ | 4.6% | ​ | ​ | 4.3%
​ Maturities of operating lease liabilities as of December 31, 2024 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | (in millions)
2025 | ​ | ​ | ​ | ​ | ​ | ​ | $ | 72.5
2026 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 60.1
2027 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 48.7
2028 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 39.8
2029 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 32.3
Thereafter | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 67.9
Total operating lease payments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 321.3
Less: imputed interest | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (45.7)
Total operating lease liabilities | ​ | ​ | ​ | ​ | ​ | ​ | $ | 275.6
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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