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Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Schedule of Description of Operating Lease
The following table presents supplemental operating lease information for operating leases that have commenced.
Three Months Ended
March 31,
(in millions, except weighted average data)20242023
Operating lease cost$9.4 $4.1 
Sublease income(0.4)— 
Net operating lease cost$9.0 $4.1 
Cash paid for amounts included in the measurement of operating lease liabilities$6.1 $4.4 
March 31,
2024
March 31,
2023
Weighted average remaining lease term
10.6 years7.7 years
Weighted average discount rate5.1 %5.3 %
Restricted cash related to letters of credit issued in lieu of cash security deposits$7.8 $7.8 
Schedule of Operating Lease Liability Maturity
The following table presents approximate future non-cancelable minimum lease payments under operating leases and sublease income as of March 31, 2024.
(in millions)
Operating
Leases (1)
Sublease
Income
2024 (9 months remaining)
$26.9 $(1.3)
2025
34.7 (1.7)
2026
34.0 (1.7)
2027
34.8 (1.7)
2028
35.6 (1.7)
Thereafter211.4 (4.3)
Total operating lease payments (sublease income)377.4 $(12.4)
Less accreted interest89.5 
Total operating lease liabilities287.9 
Less current operating lease liabilities included in other current liabilities35.0 
Noncurrent operating lease liabilities$252.9 
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(1) Amounts presented in the table above exclude $15.4 million for 2025, $23.6 million for 2026, $24.3 million for 2027, $25.1 million for 2028 and $223.5 million thereafter of approximate non-cancelable future minimum lease payments under operating leases related to our new campus facility that have not yet commenced.