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LEASES

9 Months Ended

Sep. 30, 2025

NOTE 12. LEASES

Components of total operating lease cost were as follows:


		Three Months Ended September 30,						Nine Months Ended September 30,
		2025			2024			2025			2024

		(in millions)
Operating lease cost		$	6.5		$	5.9		$	19.4		$	17.6
Short-term and variable lease cost			1.6			0.9			4.7			2.5
Total operating lease cost		$	8.1		$	6.8		$	24.1		$	20.1

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


Year Ending December 31,			(in millions)
2025 (remaining)		$	6.8
2026			22.6
2027			19.3
2028			19.0
2029			15.9
Thereafter			68.5
Total lease payments			152.1
Less: Interest			(36.2)
Present value of lease liabilities		$	115.9

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:


		September 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 September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024

	(in millions)
Cash paid for operating leases	$	6.8		$	5.9		$	19.8		$	17.5
Right-of-use assets obtained in exchange for operating lease liabilities	$	—		$	7.4		$	19.4		$	25.8