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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Assets and Liabilities, Lessee | The table below presents the lease related assets and liabilities recorded on the Company’s Consolidated Balance Sheets as of December 31, 2024 and December 31, 2023:
(in millions) |  | Classification on the Balance Sheet |  | December 31, 2024 |  | December 31, 2023
Assets |  |  |  |  |  |
Operating lease assets |  | Lease right of use assets |  | $ | 802.4 |  |  | $ | 732.8 |
Finance lease assets |  | Lease right of use assets |  | 42.9 |  |  | 56.3 |
Total lease right of use assets |  |  |  | $ | 845.3 |  |  | $ | 789.1 |
Liabilities |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |
Operating lease liabilities |  | Current operating lease liabilities |  | $ | 187.8 |  |  | $ | 131.2 |
Finance lease liabilities |  | Accrued expenses |  | 11.2 |  |  | 12.2 |
Noncurrent liabilities: |  |  |  |  |  |
Operating lease liabilities |  | Long-term operating lease liabilities |  | 622.2 |  |  | 608.8 |
Finance lease liabilities |  | Long-term financing lease liabilities |  | 35.4 |  |  | 46.1 |
Total lease liabilities |  |  |  | $ | 856.6 |  |  | $ | 798.3 |
Lease, Cost | The table below presents certain information related to costs for the Company’s leases for the year ended December 31, 2024 and December 31, 2023:
Lease Costs (in millions) |  | December 31, 2024 |  | December 31, 2023 |  |  |  |
Components of total lease costs: |  |  |  |  |  |  |  |
Finance lease costs |  |  |  |  |  |  |  |
Amortization of right of use assets |  | $ | 14.0 |  |  | $ | 13.9 |  |  |  |  |
Interest on lease liabilities |  | 3.6 |  |  | 4.5 |  |  |  |  |
Operating lease costs |  | 289.6 |  |  | 219.7 |  |  |  |  |
Short-term lease costs |  | 78.7 |  |  | 137.7 |  |  |  |  |
Variable lease costs |  | 27.0 |  |  | 13.4 |  |  |  |  |
Sub-lease income |  | (3.0) |  |  | — |  |  |  |  |
Total lease costs |  | $ | 409.9 |  |  | $ | 389.2 |  |  |  |  |
Cash Flow, Lessee | The table below presents supplemental cash flow information related to leases for the year ended December 31, 2024 and December 31, 2023 (in millions):
| Year Ended December 31, |  |
| 2024 |  | 2023 |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows for operating leases | $ | 289.1 |  |  | $ | 213.9 |  |  |
Operating cash flows for finance leases | 3.6 |  |  | 4.5 |  |  |
Financing cash flows for finance leases | 12.2 |  |  | 14.1 |  |  |
Supplemental non-cash quantification of assets acquired or remeasured under operating and financing leases | 288.6 |  |  | 271.6 |  |  |
Lease Term and Discount Rate The table below presents certain information related to the weighted average remaining lease term and weighted average discount rate for the Company’s leases as of December 31, 2024:
Weighted average remaining lease term - operating leases | 9.0 years |  |  |  |  |  |
Weighted average remaining lease term - finance leases | 3.8 years |  |  |  |  |  |
Weighted average discount rate - operating leases | 13.7 | % |  |  |  |  |  |
Weighted average discount rate - finance leases | 7.1 | % |  |  |  |  |  |
Lessee, Operating Lease, Liability, Maturity | The table below reconciles the fixed component of the undiscounted cash flows for each of the periods presented to the lease liabilities recorded on the Consolidated Balance Sheets as of December 31, 2024:
Amounts due in the year ended December 31, (in millions) |  | Finance Leases |  | Operating Leases
2025 |  | $ | 14.1 |  |  | $ | 278.8 |
2026 |  | 13.7 |  |  | 184.1 |
2027 |  | 13.7 |  |  | 137.0 |
2028 |  | 11.0 |  |  | 107.5 |
2029 |  | 0.7 |  |  | 95.1 |
Thereafter |  | — |  |  | 617.8 |
Total minimum lease payments |  | 53.2 |  |  | 1,420.3 |
Less: effect of discounting |  | 6.6 |  |  | 610.3 |
Present value of future minimum lease payments |  | 46.6 |  |  | 810.0 |
Less: current obligations under leases |  | 11.2 |  |  | 187.8 |
Long-term lease obligations |  | $ | 35.4 |  |  | $ | 622.2 |
Finance Lease, Liability, Fiscal Year Maturity | The table below reconciles the fixed component of the undiscounted cash flows for each of the periods presented to the lease liabilities recorded on the Consolidated Balance Sheets as of December 31, 2024:
Amounts due in the year ended December 31, (in millions) |  | Finance Leases |  | Operating Leases
2025 |  | $ | 14.1 |  |  | $ | 278.8 |
2026 |  | 13.7 |  |  | 184.1 |
2027 |  | 13.7 |  |  | 137.0 |
2028 |  | 11.0 |  |  | 107.5 |
2029 |  | 0.7 |  |  | 95.1 |
Thereafter |  | — |  |  | 617.8 |
Total minimum lease payments |  | 53.2 |  |  | 1,420.3 |
Less: effect of discounting |  | 6.6 |  |  | 610.3 |
Present value of future minimum lease payments |  | 46.6 |  |  | 810.0 |
Less: current obligations under leases |  | 11.2 |  |  | 187.8 |
Long-term lease obligations |  | $ | 35.4 |  |  | $ | 622.2 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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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- 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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