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Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leases

Leases

For additional detail on the Company's leases and related policies, see Note 16 to our consolidated financial statements included within our 2024 Form 10-K.

The ROU asset and lease liability balances as of March 31, 2025 and December 31, 2024 were as follows:

(in Millions)			Classification			March 31, 2025						December 31, 2024
Assets
Operating lease ROU assets			Other assets including long-term receivables, net			$	114.9					$	110.4
Liabilities
Operating lease current liabilities			Accrued and other liabilities			$	25.8					$	24.5
Operating lease noncurrent liabilities			Other long-term liabilities			110.4						106.1

The components of lease expense for the three months ended March 31, 2025 and 2024 were as follows:

						Three Months Ended March 31,
(in Millions)			Lease Cost Classification			2025						2024
Lease Cost
Operating lease cost			Costs of sales and services / Selling, general and administrative expenses			$	9.0					$	9.3
Variable lease cost			Costs of sales and services / Selling, general and administrative expenses			3.4						2.8
Total lease cost						$	12.4					$	12.1

			March 31, 2025
Operating Lease Term and Discount Rate
Weighted-average remaining lease term (years)			6.4
Weighted-average discount rate			4.9		%

			Three Months Ended March 31,
(in Millions)			2025						2024
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	(10.1)					$	(15.3)
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			$	12.2					$	16.6

The following table represents our future minimum operating lease payments as of, and subsequent to, March 31, 2025 under ASC 842:

(in Millions)															Operating Leases Total
Maturity of Lease Liabilities
2025 (excluding the three months ending March 31, 2025)															$	23.9
2026															27.9
2027															24.4
2028															20.5
2029															18.3
Thereafter															44.3
Total undiscounted lease payments															$	159.3
Less: Present value adjustment															(23.1)
Present value of lease liabilities															$	136.2

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- References

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

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