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COMMITMENTS AND LEASES (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Supplemental Cost Information Related to Leases | Supplemental cost information related to leases is shown below.
(In millions) |  | 2022 |  | 2021 |  | 2020
Operating lease costs |  | $ | 70.8 |  |  | $ | 68.8 |  |  | $ | 63.1 |
Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases is shown below.
(In millions) |  | Balance Sheet Location |  | 2022 |  | 2021
Assets |  |  |  |  |  |
Operating |  | Other assets |  | $ | 161.7 |  |  | $ | 183.0 |
Finance(1) |  | Property, plant and equipment, net |  | 27.5 |  |  | 28.9 |
Total leased assets |  |  |  | $ | 189.2 |  |  | $ | 211.9 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 42.4 |  |  | $ | 47.3 |
Finance |  | Short-term borrowings and current portion of long-term debt and finance leases |  | 5.4 |  |  | 5.5 |
Non-current: |  |  |  |  |  |
Operating |  | Long-term retirement benefits and other liabilities |  | 113.6 |  |  | 135.3 |
Finance |  | Long-term debt and finance leases |  | 8.2 |  |  | 11.7 |
Total lease liabilities |  |  |  | $ | 169.6 |  |  | $ | 199.8 |
(1) | Finance lease assets are net of accumulated amortization of $12.4 million and $10.4 million as of December 31, 2022 and January 1, 2022, respectively.
Supplemental cash flow information related to leases | Supplemental cash flow information related to leases is shown below.
(In millions) |  | 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 60.5 |  |  | $ | 54.2 |  |  | $ | 54.9 |
Operating lease assets obtained in exchange for operating lease liabilities |  | 37.2 |  |  | 58.0 |  |  | 48.4 |
Schedule of weighted average remaining lease term and discount rate information | Weighted average remaining lease term and discount rate information related to leases as of December 31, 2022 and January 1, 2022 is shown below.
|  | 2022 |  | 2021
Weighted average remaining lease term (in years): |  |  |  |
Operating |  | 5.9 |  | 6.5
Finance |  | 2.7 |  | 3.3
Weighted average discount rate (percentage): |  |  |  |
Operating |  | 3.2 | % |  | 3.0 | %
Finance |  | 2.8 |  |  | 2.9 |
Operating Lease Liabilities by Maturity Date | Operating and finance lease liabilities by maturity date from December 31, 2022 are shown below.
(In millions) |  | Operating Leases |  | Finance Leases
2023 |  | $ | 45.8 |  |  | $ | 5.8 |
2024 |  | 35.4 |  |  | 5.4 |
2025 |  | 27.8 |  |  | 2.1 |
2026 |  | 18.8 |  |  | .7 |
2027 |  | 10.8 |  |  | .2 |
2028 and thereafter |  | 35.5 |  |  | — |
Total lease payments |  | 174.1 |  |  | 14.2 |
Less: imputed interest |  | (18.1) |  |  | (.6) |
Present value of lease liabilities |  | $ | 156.0 |  |  | $ | 13.6 |
Finance Lease Liabilities by Maturity Date | Operating and finance lease liabilities by maturity date from December 31, 2022 are shown below.
(In millions) |  | Operating Leases |  | Finance Leases
2023 |  | $ | 45.8 |  |  | $ | 5.8 |
2024 |  | 35.4 |  |  | 5.4 |
2025 |  | 27.8 |  |  | 2.1 |
2026 |  | 18.8 |  |  | .7 |
2027 |  | 10.8 |  |  | .2 |
2028 and thereafter |  | 35.5 |  |  | — |
Total lease payments |  | 174.1 |  |  | 14.2 |
Less: imputed interest |  | (18.1) |  |  | (.6) |
Present value of lease liabilities |  | $ | 156.0 |  |  | $ | 13.6 |

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- Definition Lease information related to cash flow information. + References No definition available. + Details
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- Definition Weighted average remaining lease term and lease discount rate information. + References No definition available. + Details
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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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