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Leases (Tables)

3 Months Ended

Mar. 31, 2022

The ROU asset and lease liability balances as of March 31, 2022 and December 31, 2021 were as follows:


(in Millions)	Classification	March 31, 2022		December 31, 2021
Assets

Operating lease ROU assets	Other assets including long-term receivables, net	$	134.7	$	135.2

Liabilities

Operating lease current liabilities	Accrued and other liabilities	$	23.5	$	23.5



Operating lease noncurrent liabilities	Other long-term liabilities	139.1		140.0

The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows:


		Three Months Ended March 31,
(in Millions)	Lease Cost Classification	2022		2021
Lease Cost
Operating lease cost	Costs of sales and services / Selling, general and administrative expenses	$	9.0	$	8.6




Variable lease cost	Costs of sales and services / Selling, general and administrative expenses	1.2		1.2

Total lease cost		$	10.2	$	9.8


	March 31, 2022
Operating Lease Term and Discount Rate
Weighted-average remaining lease term (years)	9.0


Weighted-average discount rate	4.1	%


	Three Months Ended March 31,
(in Millions)	2022		2021
Other Information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(9.2)	$	(8.9)


Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	7.2	$	2.7

The following table represents our future minimum operating lease payments as of, and subsequent to, March 31, 2022 under ASC 842:


(in Millions)	Operating Leases Total
Maturity of Lease Liabilities
2022 (excluding the three months ending March 31, 2022)	$	22.4
2023	24.7
2024	20.4
2025	19.0
2026	18.0
Thereafter	93.1
Total undiscounted lease payments	$	197.6
Less: Present value adjustment	(35.0)
Present value of lease liabilities	$	162.6