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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases  
Schedule of future minimum lease payments


As of December 31, 2023

Maturity of Lease Liabilities (in millions)

Operating Leases (1)

2024

$

47.0


2025

36.3


2026

26.5


2027

17.9


2028

9.4


Thereafter

12.4


Total lease payments


149.5


Less: imputed interest

(7.4

)

Present value of lease liabilities

$

142.1



(1) Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements.

Schedule of lease expense recognized in consolidated statements of income

Lease Expense (in millions)


Income Statement Classification


Year ended December 31, 2023


Year ended December 31, 2022



Year ended December 31, 2021

Operating lease expense


Selling, general and administrative and Direct operating costs


$ 50.1


$

51.0


$ 55.6

Variable lease expense


Selling, general and administrative and Direct operating costs



164.3


142.6



116.0

Total lease expense




$ 214.4


$

193.6


$ 171.6
Schedule of other information about lease amounts recognized in consolidated financial statements

Lease Term and Discount Rate of Operating Leases


As of December 31, 2023


As of December 31, 2022

Weighted- average remaining lease term (years)


4.3



4.6

Weighted- average discount rate


2.49

%
2.27 %
Schedule of supplemental cash flow and non-cash information related to leases

Other Information (in millions)


Year ended December 31, 2023


Year ended December 31, 2022



Year ended December 31, 2021

Cash paid for amounts included in the measurement of lease liabilities (a)


$ 49.9


$

49.7



$ 51.5

Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:









ROU assets obtained in exchange for new operating lease liabilities


$ 49.9


$

50.0



$ 69.1


(a) Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.