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Leases (Tables)

3 Months Ended

Mar. 31, 2023

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

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

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