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v3.23.1

Leases (Tables) | 3 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Asset and lease liability | The ROU asset and lease liability balances as of March 31, 2023 and December 31, 2022 were as follows:
(in Millions) | Classification | March 31, 2023 |  | December 31, 2022
Assets |  |  |  |
Operating lease ROU assets | Other assets including long-term receivables, net | $ | 127.0 |  |  | $ | 123.8 |
Liabilities |  |  |  |
Operating lease current liabilities | Accrued and other liabilities | $ | 22.8 |  |  | $ | 22.0 |
Operating lease noncurrent liabilities | Other long-term liabilities | 130.4 |  |  | 128.6 |
Components of lease expense, lease term and discount rate | The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows:
|  |  |  | Three Months Ended March 31,
(in Millions) | Lease Cost Classification |  |  |  |  | 2023 |  | 2022
Lease Cost |  |  |  |  |  |  |  |
Operating lease cost | Costs of sales and services / Selling, general and administrative expenses |  |  |  |  | $ | 8.3 |  |  | $ | 9.0 |
Variable lease cost | Costs of sales and services / Selling, general and administrative expenses |  |  |  |  | 2.5 |  |  | 1.2 |
Total lease cost |  |  |  |  |  | $ | 10.8 |  |  | $ | 10.2 |
| March 31, 2023
Operating Lease Term and Discount Rate |
Weighted-average remaining lease term (years) | 8.1
Weighted-average discount rate | 4.2 | %
|  |  | Three Months Ended March 31,
(in Millions) |  |  |  |  | 2023 |  | 2022
Other Information |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases |  |  |  |  | $ | (9.0) |  |  | $ | (9.2) |
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 |  |  |  |  | $ | 9.8 |  |  | $ | 7.2 |
Future minimum lease payments | The following table represents our future minimum operating lease payments as of, and subsequent to, March 31, 2023 under ASC 842:
(in Millions) |  |  |  |  | Operating Leases Total
Maturity of Lease Liabilities |  |  |  |  |
2023 (excluding the three months ending March 31, 2023) |  |  |  |  | $ | 21.7 |
2024 |  |  |  |  | 24.8 |
2025 |  |  |  |  | 22.3 |
2026 |  |  |  |  | 20.5 |
2027 |  |  |  |  | 19.6 |
Thereafter |  |  |  |  | 91.4 |
Total undiscounted lease payments |  |  |  |  | $ | 200.3 |
Less: Present value adjustment |  |  |  |  | (47.1) |
Present value of lease liabilities |  |  |  |  | $ | 153.2 |

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- Definition Assets And Liabilities, Lessee [Table Text Block] + References No definition available. + Details
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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 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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