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Leases (Tables) | 6 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
Schedule of Lease Payments Captured in Lease Receivable | All lease payments are primarily fixed in nature and therefore captured in the lease receivable. Our sales-type lease receivable balances at June 30, 2025 and December 31, 2024 were as follows:
(In millions) |  | June 30, 2025 |  | December 31, 2024
Short-Term (12 months or less) |  | $ | 10.9 |  |  | $ | 9.3 |
Long-Term |  | 45.2 |  |  | 42.2 |
Lease receivables |  | $ | 56.1 |  |  | $ | 51.5 |
Schedule of Lease Obligations, Assets and Liabilities | The following table details our lease obligations included in our Condensed Consolidated Balance Sheets.
(In millions) |  | June 30, 2025 |  | December 31, 2024
Other non-current assets: |  |  |  |
Finance leases - ROU assets |  | $ | 38.4 |  |  | $ | 39.2 |
Finance leases - Accumulated depreciation |  | (19.3) |  |  | (19.0) |
Operating lease right-of-use-assets: |  |  |  |
Operating leases - ROU assets |  | 223.7 |  |  | 222.4 |
Operating leases - Accumulated depreciation |  | (132.1) |  |  | (124.4) |
Total lease assets |  | $ | 110.7 |  |  | $ | 118.2 |
Current portion of long-term debt: |  |  |  |
Finance leases |  | $ | (7.4) |  |  | $ | (6.6) |
Current portion of operating lease liabilities: |  |  |  |
Operating leases |  | (31.3) |  |  | (29.7) |
Long-term debt, less current portion: |  |  |  |
Finance leases |  | (10.6) |  |  | (12.9) |
Long-term operating lease liabilities, less current portion: |  |  |  |
Operating leases |  | (68.8) |  |  | (74.8) |
Total lease liabilities |  | $ | (118.1) |  |  | $ | (124.0) |
Schedule of Operating Lease, Future Minimum Annual Rental Commitments | At June 30, 2025, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:
(In millions) |  | Finance leases |  | Operating leases
Remainder of 2025 |  | $ | 5.0 |  |  | $ | 18.9 |
2026 |  | 6.1 |  |  | 32.2 |
2027 |  | 3.1 |  |  | 21.3 |
2028 |  | 1.4 |  |  | 14.6 |
2029 |  | 0.8 |  |  | 9.6 |
Thereafter |  | 7.4 |  |  | 20.1 |
Total lease payments |  | 23.8 |  |  | 116.7 |
Less: Interest |  | (5.8) |  |  | (16.6) |
Present value of lease liabilities |  | $ | 18.0 |  |  | $ | 100.1 |
Schedule of Finance Lease, Future Minimum Annual Rental Commitments | At June 30, 2025, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:
(In millions) |  | Finance leases |  | Operating leases
Remainder of 2025 |  | $ | 5.0 |  |  | $ | 18.9 |
2026 |  | 6.1 |  |  | 32.2 |
2027 |  | 3.1 |  |  | 21.3 |
2028 |  | 1.4 |  |  | 14.6 |
2029 |  | 0.8 |  |  | 9.6 |
Thereafter |  | 7.4 |  |  | 20.1 |
Total lease payments |  | 23.8 |  |  | 116.7 |
Less: Interest |  | (5.8) |  |  | (16.6) |
Present value of lease liabilities |  | $ | 18.0 |  |  | $ | 100.1 |
Schedule of Lease Costs and Other Information | The following lease cost is included in our Condensed Consolidated Statements of Operations:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Lease cost(1) |  |  |  |  |  |  |  |
Finance leases |  |  |  |  |  |  |  |
Amortization of ROU assets |  | $ | 2.0 |  |  | $ | 2.4 |  |  | $ | 4.1 |  |  | $ | 4.4 |
Interest on lease liabilities |  | 0.3 |  |  | 0.4 |  |  | 0.7 |  |  | 0.8 |
Operating leases |  | 9.7 |  |  | 8.9 |  |  | 19.7 |  |  | 18.3 |
Short-term lease cost |  | 0.7 |  |  | 1.1 |  |  | 1.1 |  |  | 1.3 |
Variable lease cost |  | 1.7 |  |  | 1.7 |  |  | 3.9 |  |  | 3.4 |
Total lease cost |  | $ | 14.4 |  |  | $ | 14.5 |  |  | $ | 29.5 |  |  | $ | 28.2 |
(1) With the exception of Interest on lease liabilities, we record lease costs to Cost of sales or Selling, general and administrative expenses on the Condensed Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities is recorded to Interest expense, net on the Condensed Consolidated Statements of Operations.
Schedule of Operating and Finance Lease, Other Information | The following table details cash paid related to operating and finance leases included in our Condensed Consolidated Statements of Cash Flows and new right-of-use (“ROU”) assets included in our Condensed Consolidated Balance Sheets:
|  | Six Months Ended June 30,
(In millions) |  | 2025 |  | 2024
Other information: |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows - finance leases |  | $ | 2.5 |  |  | $ | 2.2 |
Operating cash flows - operating leases |  | $ | 20.8 |  |  | $ | 19.3 |
Financing cash flows - finance leases |  | $ | 4.8 |  |  | $ | 3.9 |
ROU assets obtained in exchange for new finance lease liabilities |  | $ | 2.9 |  |  | $ | 6.0 |
ROU assets obtained in exchange for new operating lease liabilities |  | $ | 9.0 |  |  | $ | 26.7 |
|  | Six Months Ended June 30,
|  | 2025 |  | 2024
Weighted average information: |  |  |  |
Finance leases |  |  |  |
Remaining lease term (in years) |  | 5.9 |  | 5.7
Discount rate |  | 7.7 | % |  | 7.5 | %
Operating leases |  |  |  |
Remaining lease term (in years) |  | 4.7 |  | 5.2
Discount rate |  | 6.5 | % |  | 6.3 | %

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