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Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Right-of-Use Assets and Lease Obligations | Operating lease assets and obligations included in the accompanying consolidated balance sheet are shown below (in millions):
December 31, | 2022 |  | 2021
Right-of-use assets under operating leases: |  |  |
Other long-term assets | $ | 701.8 |  |  | $ | 627.9 |
Lease obligations under operating leases: |  |  |
Accrued liabilities | $ | 136.8 |  |  | $ | 125.6 |
Other long-term liabilities | 595.1 |  |  | 523.6 |
| $ | 731.9 |  |  | $ | 649.2 |
Maturity of Lease Obligations | Maturities of lease obligations as of December 31, 2022, are shown below (in millions):
2023 | $ | 159.7 |
2024 | 140.3 |
2025 | 119.5 |
2026 | 101.1 |
2027 | 83.2 |
Thereafter | 215.9 |
Total undiscounted cash flows | 819.7 |
Less: Imputed interest | (87.8) |
Lease obligations under operating leases | $ | 731.9 |
Cash Flow Information, Lease Expense, Weighted Average Lease Term and Discount Rate | Cash flow information related to operating leases is shown below (in millions):
For the year ended December 31, | 2022 |  | 2021 |  | 2020
Non-cash activity: |  |  |  |  |
Right-of-use assets obtained in exchange for operating lease obligations | $ | 236.1 |  |  | $ | 258.4 |  |  | $ | 135.1 |
Operating cash flows: |  |  |  |  |
Cash paid related to operating lease obligations | $ | 164.3 |  |  | $ | 164.2 |  |  | $ | 143.8 |
Lease expense included in the accompanying consolidated statement of income is shown below (in millions):
For the year ended December 31, | 2022 |  | 2021 |  | 2020 |
Operating lease expense | $ | 164.5 |  |  | $ | 160.3 |  |  | $ | 148.6 |  |
Short-term lease expense | 22.1 |  |  | 19.4 |  |  | 15.4 |  |
Variable lease expense | 8.4 |  |  | 7.9 |  |  | 8.0 |  |
Total lease expense | $ | 195.0 |  |  | $ | 187.6 |  |  | $ | 172.0 |  |
The weighted average lease term and discount rate for operating leases as of December 31, 2022, are shown below:
Weighted average remaining lease term | Seven years
Weighted average discount rate | 3.5 | %

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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