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v3.25.3

Leases (Tables) | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Schedule of Lease-Related Assets and Liabilities | The table below presents the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheets (in millions):
|  |  |  | As of September 30, |  | As of December 31,
|  | Classification |  | 2025 |  | 2024
Assets |  |  |  |  |  |
Non-Current |  |  |  |  |  |
Operating |  | Operating lease right-of-use assets |  | $ | 98.1 |  |  | $ | 95.6 |
Finance |  | Property and equipment, net |  | 6.2 |  |  | 7.9 |
Total lease assets |  |  |  | $ | 104.3 |  |  | $ | 103.5 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Current maturities of operating lease obligations |  | $ | 36.9 |  |  | $ | 34.3 |
Financing |  | Current maturities of finance lease obligations |  | 2.8 |  |  | 2.8 |
Non-Current |  |  |  |  |  |
Operating |  | Operating lease obligations |  | 61.1 |  |  | 61.0 |
Financing |  | Finance lease obligations |  | 3.7 |  |  | 5.4 |
Total lease liabilities |  | $ | 104.5 |  |  | $ | 103.5 |
Weighted-average remaining lease term: |  |  |  |
Operating leases |  |  |  | 3.4 years |  | 3.6 years
Finance leases |  |  |  | 2.6 years |  | 3.0 years
Weighted-average discount rate: |  |  |  |
Operating leases |  |  |  | 5.62 | % |  | 5.68 | %
Finance leases |  |  |  | 8.10 | % |  | 7.74 | %
Schedule of Lease Costs for Finance and Operating Leases | The table below presents certain information related to the lease costs for finance and operating leases (in millions):
|  |  |  | Three months ended September 30, |  | Nine months ended September 30,
|  | Classification |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost(1) |  | Administrative |  | $ | 12.7 |  |  | $ | 11.2 |  |  | $ | 37.5 |  |  | $ | 32.3 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |
Amortization of leased assets(2) |  | Cost of sales |  | 0.8 |  |  | 1.0 |  |  | 2.7 |  |  | 3.0 |
Interest on finance lease obligations |  | Interest expense, net |  | 0.1 |  |  | 0.2 |  |  | 0.4 |  |  | 0.5 |
Total lease costs |  |  |  | $ | 13.6 |  |  | $ | 12.4 |  |  | $ | 40.6 |  |  | $ | 35.8 |
(1)Includes variable lease costs of $1.7 million and $1.3 million for the three months ended September 30, 2025 and 2024, respectively, $5.0 million and $3.8 million for the nine months ended September 30, 2025 and 2024, respectively, and short-term lease costs of $0.3 million and $0.6 million for the three months ended September 30, 2025 and 2024, respectively, and $1.1 million and $2.0 million for the nine months ended September 30, 2025 and 2024, respectively. (2)Includes variable lease costs of $0.1 million and $0.2 million for the three months ended September 30, 2025 and 2024, respectively, and $0.5 million and $0.6 million for the nine months ended September 30, 2025 and 2024, respectively. The table below presents supplemental cash flow information related to leases (in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows for operating leases | $ | 10.6 |  |  | $ | 9.2 |  |  | $ | 31.2 |  |  | $ | 26.5 |
Operating cash flows for finance leases | 0.1 |  |  | 0.2 |  |  | 0.4 |  |  | 0.5 |
Financing cash flows for finance leases | 0.8 |  |  | 0.7 |  |  | 2.2 |  |  | 2.2 |
Schedule of Undiscounted Cash Flows Finance Lease Obligations | The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheets as of September 30, 2025 (in millions):
| Finance Leases |  | Operating Leases
|  |  | Related Party |  | Other |  | Total Operating
Remainder of 2025 | $ | 0.8 |  |  | $ | 0.2 |  |  | $ | 10.7 |  |  | $ | 10.9 |
2026 | 3.1 |  |  | 0.5 |  |  | 38.4 |  |  | 38.9 |
2027 | 2.2 |  |  | 0.1 |  |  | 26.0 |  |  | 26.1 |
2028 | 0.9 |  |  | — |  |  | 15.8 |  |  | 15.8 |
2029 | 0.2 |  |  | — |  |  | 8.9 |  |  | 8.9 |
Thereafter | 0.1 |  |  | — |  |  | 7.1 |  |  | 7.1 |
Total minimum lease payments | 7.3 |  |  | $ | 0.8 |  |  | $ | 106.9 |  |  | 107.7 |
Less: Amounts representing interest | (0.8) |  |  |  |  |  |  | (9.7) |
Present value of future minimum lease payments | 6.5 |  |  |  |  |  |  | 98.0 |
Less: Current obligation under leases | (2.8) |  |  |  |  |  |  | (36.9) |
Long-term lease obligations | $ | 3.7 |  |  |  |  |  |  | $ | 61.1 |
Schedule of Undiscounted Cash Flows Operating Lease Obligations | The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheets as of September 30, 2025 (in millions):
| Finance Leases |  | Operating Leases
|  |  | Related Party |  | Other |  | Total Operating
Remainder of 2025 | $ | 0.8 |  |  | $ | 0.2 |  |  | $ | 10.7 |  |  | $ | 10.9 |
2026 | 3.1 |  |  | 0.5 |  |  | 38.4 |  |  | 38.9 |
2027 | 2.2 |  |  | 0.1 |  |  | 26.0 |  |  | 26.1 |
2028 | 0.9 |  |  | — |  |  | 15.8 |  |  | 15.8 |
2029 | 0.2 |  |  | — |  |  | 8.9 |  |  | 8.9 |
Thereafter | 0.1 |  |  | — |  |  | 7.1 |  |  | 7.1 |
Total minimum lease payments | 7.3 |  |  | $ | 0.8 |  |  | $ | 106.9 |  |  | 107.7 |
Less: Amounts representing interest | (0.8) |  |  |  |  |  |  | (9.7) |
Present value of future minimum lease payments | 6.5 |  |  |  |  |  |  | 98.0 |
Less: Current obligation under leases | (2.8) |  |  |  |  |  |  | (36.9) |
Long-term lease obligations | $ | 3.7 |  |  |  |  |  |  | $ | 61.1 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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