v3.25.4
LEASES (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of 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, 2025 and December 31, 2024:
(in millions)Classification on the Balance SheetDecember 31, 2025December 31, 2024
Assets
Operating lease assetsLease right of use assets$725.7 $802.4 
Finance lease assetsLease right of use assets34.0 42.9 
Total lease right of use assets$759.7 $845.3 
Liabilities
Current liabilities:
Operating lease liabilitiesCurrent operating lease liabilities$184.4 $187.8 
Finance lease liabilitiesAccrued expenses12.2 11.2 
Noncurrent liabilities:
Operating lease liabilitiesLong-term operating lease liabilities543.0 622.2 
Finance lease liabilitiesLong-term financing lease liabilities25.8 35.4 
Total lease liabilities$765.4 $856.6 
Summary of Lease Cost
The table below presents certain information related to costs for the Company’s leases for the year ended December 31, 2025 and December 31, 2024:
Lease Costs (in millions)
December 31,
2025
December 31,
2024
Components of total lease costs:
Finance lease costs
Amortization of right of use assets$11.4 $14.0 
Interest on lease liabilities2.9 3.6 
Operating lease costs321.7 289.6 
Short-term lease costs69.7 78.7 
Variable lease costs39.2 27.0 
Sub-lease income(2.9)(3.0)
Total lease costs$442.0 $409.9 
Summary of Cash Flow Information
The table below presents supplemental cash flow information related to leases for the year ended December 31, 2025 and December 31, 2024 (in millions):
Years Ended December 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$327.4 $289.1 
Operating cash flows for finance leases2.9 3.6 
Financing cash flows for finance leases11.2 12.2 
Supplemental non-cash quantification of assets acquired or remeasured under operating and financing leases156.2 288.6 
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, 2025:
Weighted average remaining lease term - operating leases8.8 years
Weighted average remaining lease term - finance leases2.9 years
Weighted average discount rate - operating leases13.9 %
Weighted average discount rate - finance leases7.2 %
Schedule of Operating Lease 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, 2025:
Amounts due in the year ended December 31, (in millions)
Finance LeasesOperating Leases
2026$14.5 $268.7 
202714.5 147.5 
202811.8 113.2 
20291.4 98.7 
2030— 96.3 
Thereafter— 532.6 
Total minimum lease payments42.2 1,257.0 
Less: effect of discounting4.2 529.6 
Present value of future minimum lease payments38.0 727.4 
Less: current obligations under leases12.2 184.4 
Long-term lease obligations$25.8 $543.0 
Schedule of Finance Lease 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, 2025:
Amounts due in the year ended December 31, (in millions)
Finance LeasesOperating Leases
2026$14.5 $268.7 
202714.5 147.5 
202811.8 113.2 
20291.4 98.7 
2030— 96.3 
Thereafter— 532.6 
Total minimum lease payments42.2 1,257.0 
Less: effect of discounting4.2 529.6 
Present value of future minimum lease payments38.0 727.4 
Less: current obligations under leases12.2 184.4 
Long-term lease obligations$25.8 $543.0