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v3.24.3

Leases | 9 Months Ended
--- | ---
Sep. 30, 2024
Leases [Abstract] |
Leases | Leases The Company's operating leases are primarily for real estate, including medical office buildings, and corporate and other administrative offices. The Company's finance leases are primarily for medical equipment and information technology and telecommunications assets. The following table presents the components of the Company's right-of-use assets and liabilities related to leases and their classification in the condensed consolidated balance sheets (in millions):
|  | Classification in Condensed Consolidated Balance Sheets |  | September 30, 2024 |  | December 31, 2023
Assets: |  |  |  |  |  |
Operating lease assets |  | Right-of-use operating lease assets |  | $ | 297.5 |  |  | $ | 255.3 |
Finance lease assets |  | Property and equipment, net of accumulated depreciation |  | 588.6 |  |  | 587.0 |
Total leased assets |  |  |  | $ | 886.1 |  |  | $ | 842.3 |
Liabilities: |  |  |  |  |  |
Operating lease liabilities: |  |  |  |  |  |
Current |  | Other current liabilities |  | $ | 41.4 |  |  | $ | 37.6 |
Long-term |  | Right-of-use operating lease liabilities |  | 286.4 |  |  | 248.9 |
Total operating lease liabilities |  |  |  | 327.8 |  |  | 286.5 |
Finance lease liabilities: |  |  |  |  |  |
Current |  | Current maturities of long-term debt |  | 29.5 |  |  | 25.4 |
Long-term |  | Long-term debt, less current maturities |  | 694.1 |  |  | 668.2 |
Total finance lease liabilities |  |  |  | 723.6 |  |  | 693.6 |
Total lease liabilities |  |  |  | $ | 1,051.4 |  |  | $ | 980.1 |
The following table presents the components of the Company's lease expense and their classification in the condensed consolidated statements of operations (in millions):
|  | Nine Months Ended September 30,
|  | 2024 |  | 2023
Operating lease costs |  | $ | 50.1 |  |  | $ | 48.7 |
Finance lease costs: |  |  |  |
Amortization of leased assets |  | 47.5 |  |  | 29.0 |
Interest on lease liabilities |  | 40.6 |  |  | 35.9 |
Total finance lease costs |  | 88.1 |  |  | 64.9 |
Variable and short-term lease costs |  | 18.1 |  |  | 16.3 |
Total lease costs |  | $ | 156.3 |  |  | $ | 129.9 |
The following table presents supplemental cash flow information (in millions):
|  | Nine Months Ended September 30,
|  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash outflows from operating leases |  | $ | 48.0 |  |  | $ | 47.2 |
Operating cash outflows from finance leases |  | $ | 38.6 |  |  | $ | 34.1 |
Financing cash outflows from finance leases |  | $ | 24.4 |  |  | $ | 19.3 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 79.3 |  |  | $ | 39.9 |
Finance leases |  | $ | 40.8 |  |  | $ | 108.7 |
Leases | Leases The Company's operating leases are primarily for real estate, including medical office buildings, and corporate and other administrative offices. The Company's finance leases are primarily for medical equipment and information technology and telecommunications assets. The following table presents the components of the Company's right-of-use assets and liabilities related to leases and their classification in the condensed consolidated balance sheets (in millions):
|  | Classification in Condensed Consolidated Balance Sheets |  | September 30, 2024 |  | December 31, 2023
Assets: |  |  |  |  |  |
Operating lease assets |  | Right-of-use operating lease assets |  | $ | 297.5 |  |  | $ | 255.3 |
Finance lease assets |  | Property and equipment, net of accumulated depreciation |  | 588.6 |  |  | 587.0 |
Total leased assets |  |  |  | $ | 886.1 |  |  | $ | 842.3 |
Liabilities: |  |  |  |  |  |
Operating lease liabilities: |  |  |  |  |  |
Current |  | Other current liabilities |  | $ | 41.4 |  |  | $ | 37.6 |
Long-term |  | Right-of-use operating lease liabilities |  | 286.4 |  |  | 248.9 |
Total operating lease liabilities |  |  |  | 327.8 |  |  | 286.5 |
Finance lease liabilities: |  |  |  |  |  |
Current |  | Current maturities of long-term debt |  | 29.5 |  |  | 25.4 |
Long-term |  | Long-term debt, less current maturities |  | 694.1 |  |  | 668.2 |
Total finance lease liabilities |  |  |  | 723.6 |  |  | 693.6 |
Total lease liabilities |  |  |  | $ | 1,051.4 |  |  | $ | 980.1 |
The following table presents the components of the Company's lease expense and their classification in the condensed consolidated statements of operations (in millions):
|  | Nine Months Ended September 30,
|  | 2024 |  | 2023
Operating lease costs |  | $ | 50.1 |  |  | $ | 48.7 |
Finance lease costs: |  |  |  |
Amortization of leased assets |  | 47.5 |  |  | 29.0 |
Interest on lease liabilities |  | 40.6 |  |  | 35.9 |
Total finance lease costs |  | 88.1 |  |  | 64.9 |
Variable and short-term lease costs |  | 18.1 |  |  | 16.3 |
Total lease costs |  | $ | 156.3 |  |  | $ | 129.9 |
The following table presents supplemental cash flow information (in millions):
|  | Nine Months Ended September 30,
|  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash outflows from operating leases |  | $ | 48.0 |  |  | $ | 47.2 |
Operating cash outflows from finance leases |  | $ | 38.6 |  |  | $ | 34.1 |
Financing cash outflows from finance leases |  | $ | 24.4 |  |  | $ | 19.3 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 79.3 |  |  | $ | 39.9 |
Finance leases |  | $ | 40.8 |  |  | $ | 108.7 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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- 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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