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Leased Assets | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Leased Assets | Leased Assets The Company primarily leases certain logistics, office, and manufacturing facilities, as well as vehicles, copiers, and other equipment. These operating leases generally have remaining lease terms between 1 month and 30 years, and some include options to extend (generally 1 to 10 years). The exercise of lease renewal options is at the Company’s discretion. The Company evaluates renewal options at lease inception and on an ongoing basis, and includes renewal options that it is reasonably certain to exercise in its expected lease terms when classifying leases and measuring lease liabilities. Lease agreements generally do not require material variable lease payments, residual value guarantees or restrictive covenants. The table below presents the locations of the operating lease assets and liabilities on the consolidated balance sheets as of December 31, 2025, and December 31, 2024, respectively (in millions):
| Balance Sheet Line Item |  | December 31, 2025 |  | December 31, 2024
Operating lease assets | Operating lease right-of-use assets |  | $ | 32.1 |  |  | $ | 30.3 |
Operating lease liabilities: |  |  |  |  |
Current operating lease liabilities | Current operating lease liabilities |  | $ | 7.7 |  |  | $ | 6.4 |
Non-current operating lease liabilities | Operating lease liability, non-current |  | 26.8 |  |  | 27.1 |
Total operating lease liabilities: |  |  | $ | 34.5 |  |  | $ | 33.5 |
The depreciable lives are limited by the expected lease term for operating lease assets and by the shorter of either the expected lease term or the economic useful life for financing lease assets. The Company’s leases generally do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring the lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of the lease within a particular currency environment. The Company’s weighted average remaining lease term and weighted average discount rate for operating leases as of December 31, 2025, and December 31, 2024, respectively, are:
|  | December 31, 2025 |  | December 31, 2024
Operating leases |  |  |  |
Weighted average remaining lease term (in years) |  | 5.3 |  | 6.1
Weighted average discount rate |  | 5.35 | % |  | 4.96 | %
The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable operating leases with terms of more than one year to the total lease liabilities recognized on the consolidated balance sheets as of December 31, 2025 (in millions):
Fiscal year ending December 31: |
2026 | $ | 8.4 |
2027 | 9.4 |
2028 | 8.6 |
2029 | 6.7 |
2030 | 4.9 |
Thereafter | 10.0 |
Total undiscounted future minimum lease payments | 48.0 |
Less: Imputed interest | (13.5) |
Total operating lease liabilities | $ | 34.5 |
For the fiscal years ended December 31, 2025, December 31, 2024, and December 31, 2023, operating lease costs (as defined under ASU 2016-02) were $9.4 million, $12.5 million, and $10.7 million, respectively. Operating lease costs are included within costs of goods sold, selling, general and administrative, and research and development expenses on the consolidated statements of income and comprehensive income. Short-term lease costs, variable lease costs and sublease income were not material for the periods presented. Cash paid for amounts included in the measurement of operating lease liabilities for the fiscal years ended December 31, 2025, December 31, 2024 and December 31, 2023, was $9.3 million, $9.0 million, and $9.8 million, respectively, and this amount is included in operating activities in the consolidated statements of cash flows. Operating lease assets obtained in exchange for new operating lease liabilities for the fiscal years ended December 31, 2025, December 31, 2024, and December 31, 2023, were $7.5 million, $4.8 million, and $2.0 million, respectively.

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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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