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Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases [Abstract] |
Leases | Leases As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows:
|  |  |  |  | Year Ended December 31,
(In millions, except percentage and year amounts) |  |  |  | 2023 |  | 2022
Lease cost: |  |  |  |  |  |
| Operating lease cost recognized as rent expense |  |  |  | $ | 12.0 |  |  | $ | 15.0 |
| Total lease cost |  |  |  | $ | 12.0 |  |  | $ | 15.0 |
|  |  |  | Other Information
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
| Operating cash flows related to operating leases |  |  |  | $ | 11.8 |  |  | $ | 14.9 |
Non-cash other information: |  |  |  |
| Right-of-use assets obtained in exchange for new operating lease liabilities |  |  |  | $ | 19.3 |  |  | $ | 6.4 |
|  |  |  |  | December 31,
|  |  |  |  | 2023 |  | 2022
Weighted-average remaining lease term (in years): |  |  |  |
| Operating leases |  |  |  | 13 |  | 14
Weighted-average discount rate: |  |  |  |
| Operating leases |  |  |  | 3.37 | % |  | 2.66 | %
Rent expense was $12.0 million, $15.0 million and $14.2 million in 2023, 2022 and 2021, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced. At December 31, 2023, future lease payments under operating leases were as follows:
(In millions) |  |  | Operating Leases
2024 |  |  | $ | 11.1 |
2025 |  |  | 9.5 |
2026 |  |  | 7.9 |
2027 |  |  | 6.4 |
2028 |  |  | 5.5 |
After 2028 |  |  | 23.5 |
|  |  | $ | 63.9 |
Less: Imputed interest |  |  | 9.9 |
Present value of operating lease liabilities |  |  | 54.0 |
Less: Current portion operating lease liabilities(a) |  |  | 9.5 |
Noncurrent operating lease liabilities |  |  | $ | 44.5 |
(a) Included in Other current liabilities on the Consolidated Balance Sheets.
Leases | Leases As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows:
|  |  |  |  | Year Ended December 31,
(In millions, except percentage and year amounts) |  |  |  | 2023 |  | 2022
Lease cost: |  |  |  |  |  |
| Operating lease cost recognized as rent expense |  |  |  | $ | 12.0 |  |  | $ | 15.0 |
| Total lease cost |  |  |  | $ | 12.0 |  |  | $ | 15.0 |
|  |  |  | Other Information
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
| Operating cash flows related to operating leases |  |  |  | $ | 11.8 |  |  | $ | 14.9 |
Non-cash other information: |  |  |  |
| Right-of-use assets obtained in exchange for new operating lease liabilities |  |  |  | $ | 19.3 |  |  | $ | 6.4 |
|  |  |  |  | December 31,
|  |  |  |  | 2023 |  | 2022
Weighted-average remaining lease term (in years): |  |  |  |
| Operating leases |  |  |  | 13 |  | 14
Weighted-average discount rate: |  |  |  |
| Operating leases |  |  |  | 3.37 | % |  | 2.66 | %
Rent expense was $12.0 million, $15.0 million and $14.2 million in 2023, 2022 and 2021, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced. At December 31, 2023, future lease payments under operating leases were as follows:
(In millions) |  |  | Operating Leases
2024 |  |  | $ | 11.1 |
2025 |  |  | 9.5 |
2026 |  |  | 7.9 |
2027 |  |  | 6.4 |
2028 |  |  | 5.5 |
After 2028 |  |  | 23.5 |
|  |  | $ | 63.9 |
Less: Imputed interest |  |  | 9.9 |
Present value of operating lease liabilities |  |  | 54.0 |
Less: Current portion operating lease liabilities(a) |  |  | 9.5 |
Noncurrent operating lease liabilities |  |  | $ | 44.5 |
(a) Included in Other current liabilities on the Consolidated Balance Sheets.

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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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- Definition The entire disclosure of lessor's direct financing leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-30/tableOfContent + Details
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