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LEASES | 6 Months Ended
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Jun. 30, 2024
LEASES |
LEASES | 9. LEASES ​ The Company’s leases are described in Note 9 to the Consolidated Financial Statements included in Part II, Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. ​ Components of Lease Cost: Components of lease cost recorded in the Company’s Condensed Consolidated Statement of Income and Comprehensive Income for the three and six months ended June 30, 2024 and 2023 consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
(In millions) |  | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023
Operating lease cost | ​ | $ | 36.3 | ​ | $ | 38.3 | ​ | $ | 72.2 | ​ | $ | 80.1
Short-term lease cost | ​ |  | 5.4 | ​ |  | 1.5 | ​ |  | 7.4 | ​ |  | 1.7
Variable lease cost | ​ |  | 0.2 | ​ |  | 0.2 | ​ |  | 0.4 | ​ |  | 0.4
Total lease cost | ​ | $ | 41.9 | ​ | $ | 40.0 | ​ | $ | 80.0 | ​ | $ | 82.2
​ Maturities of operating lease liabilities at June 30, 2024 are as follows: ​
​ | ​ | ​ | ​
​ |  | As of
Year (in millions) |  | June 30, 2024
Remainder of 2024 | ​ | $ | 74.1
2025 | ​ |  | 89.8
2026 | ​ |  | 37.6
2027 | ​ |  | 20.7
2028 | ​ |  | 11.3
Thereafter | ​ |  | 52.2
Total lease payments | ​ | ​ | 285.7
Less: Interest | ​ | ​ | (32.5)
Present value of operating lease liabilities | ​ | ​ | 253.2
Less: Short-term portion | ​ | ​ | (122.7)
Long-term operating lease liabilities | ​ | $ | 130.5
​

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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 + Details
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