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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Lease Information | Additional information related to our leases is as follows:
|  | Nine Months Ended September 30,
(in millions) |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows for operating leases |  | $ | 29.4 |  |  | $ | 27.0 |
Operating cash flows for finance leases |  | 0.4 |  |  | 0.3 |
Financing cash flows for finance leases |  | 3.4 |  |  | 2.8 |
Right-of-use assets obtained in exchange for new lease liabilities |  |  |  |
Operating leases |  | $ | 19.2 |  |  | $ | 38.6 |
Finance leases |  | 0.1 |  |  | 5.7 |
Schedule of Investment In Lease Receivables | As of September 30, 2024 and December 31, 2023, investments in lease receivables were as follows:
(in millions) |  | September 30, 2024 |  | December 31, 2023
Future minimum payments to be received on leases |  | $ | 177.6 |  |  | $ | 161.8 |
Guaranteed residual lease values |  | 101.1 |  |  | 103.9 |
Total minimum lease payments to be received |  | 278.7 |  |  | 265.7 |
Unearned income |  | (47.9) |  |  | (42.2) |
Net investment in leases |  | $ | 230.8 |  |  | $ | 223.5 |
Schedule of Sales-type Lease Income | The table below provides additional information on our sales-type leases. Revenue and cost of goods sold are recorded in operating revenues and operating supplies and expenses—net in the consolidated statements of comprehensive income, respectively.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Revenue |  | $ | 70.2 |  |  | $ | 50.7 |  |  | $ | 188.2 |  |  | $ | 161.3 |
Cost of goods sold |  | (63.5) |  |  | (43.0) |  |  | (168.5) |  |  | (136.4) |
Operating profit |  | $ | 6.7 |  |  | $ | 7.7 |  |  | $ | 19.7 |  |  | $ | 24.9 |
Interest income on lease receivable |  | $ | 8.1 |  |  | $ | 9.0 |  |  | $ | 23.7 |  |  | $ | 27.7 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of components of income from sales-type lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-6A + Details
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