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LEASES

6 Months Ended

Jun. 30, 2025

NOTE 12. LEASES

Components of total operating lease cost were as follows:


		Three Months Ended June 30,						Six Months Ended June 30,
		2025			2024			2025			2024

		(in millions)
Operating lease cost		$	6.5		$	5.9		$	13.0		$	11.7
Short-term and variable lease cost			1.7			0.9			3.1			1.6
Total operating lease cost		$	8.2		$	6.8		$	16.1		$	13.3

Estimated future payments on our operating lease liabilities are as follows:


Year Ending December 31,			(in millions)
2025 (remaining)		$	13.6
2026			22.7
2027			19.4
2028			19.1
2029			16.0
Thereafter			68.7
Total lease payments			159.5
Less: Interest			(38.1)
Present value of lease liabilities		$	121.4

In addition to the above, we have a lease agreement with total payments of $6.4 million that commences in the first quarter of 2026 and expires in 2035.

The following tables present additional information about our lease agreements:


		June 30,				December 31,
		2025				2024
Weighted average remaining lease term (in years)			8.3				8.4
Weighted average discount rate			6.3	%			6.1	%


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024

	(in millions)
Cash paid for operating leases	$	6.7		$	5.8		$	13.0		$	11.6
Right-of-use assets obtained in exchange for operating lease liabilities	$	7.1		$	1.6		$	19.4		$	18.4