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Leases

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Leases

LEASES

We lease various assets in the ordinary course of business as follows: warehouses to store our materials and perform staging activities for certain products we install, various office spaces for selling and administrative activities to support our business, and certain vehicles and equipment to facilitate our operations, including, but not limited to, trucks, forklifts and office equipment.

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		%

Lease Costs

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.

Other Information

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

Undiscounted Cash Flows

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

Leases

LEASES

We lease various assets in the ordinary course of business as follows: warehouses to store our materials and perform staging activities for certain products we install, various office spaces for selling and administrative activities to support our business, and certain vehicles and equipment to facilitate our operations, including, but not limited to, trucks, forklifts and office equipment.

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		%

Lease Costs

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.

Other Information

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

Undiscounted Cash Flows

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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- References

No definition available.

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- Definition

The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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

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X

- 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

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