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LEASES | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
LEASES | NOTE 22. LEASES Our lease commitments are primarily for railcars, but also include logistics, manufacturing, storage, real estate and information technology assets. Our leases have remaining lease terms of up to 91 years (14 years excluding land leases), some of which may include options to extend the leases for up to five years, and some of which may include options to terminate the leases within one year. The amounts for leases included in our consolidated balance sheets include:
|  | December 31,
|  | 2023 |  | 2022
| Balance Sheet Location: | ($ in millions)
Lease Assets |  |  |  |
Operating | Operating lease assets, net | $ | 344.7 |  |  | $ | 356.0 |
Finance | Property, plant and equipment, net(1) | — |  |  | 2.4 |
Total lease assets |  | $ | 344.7 |  |  | $ | 358.4 |
Lease Liabilities |  |  |  |
Current |  |  |  |
Operating | Current operating lease liabilities | $ | 69.3 |  |  | $ | 71.8 |
Finance | Current installments of long-term debt | — |  |  | 1.0 |
Long-term |  |  |  |
Operating | Operating lease liabilities | 283.1 |  |  | 292.5 |
Finance | Long-term debt | — |  |  | 0.9 |
Total lease liabilities |  | $ | 352.4 |  |  | $ | 366.2 |
(1) As of December 31, 2022, assets recorded under finance leases were $7.6 million and accumulated depreciation associated with finance leases was $5.2 million. The components of lease expense are recorded to cost of goods sold and selling and administrative expenses in the consolidated statement of operations, excluding interest on finance lease liabilities which is recorded to interest expense. The components of lease expense were as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Lease Expense | ($ in millions)
Operating lease expense | $ | 88.4 |  |  | $ | 93.4 |  |  | $ | 97.1 |
Variable and short-term lease expense | 24.6 |  |  | 32.5 |  |  | 28.7 |
Finance lease expense: |  |  |  |  |
Depreciation of leased assets | 0.5 |  |  | 1.0 |  |  | 1.1 |
Interest on lease liabilities | — |  |  | 0.1 |  |  | 0.1 |
Total lease expense | $ | 113.5 |  |  | $ | 127.0 |  |  | $ | 127.0 |
Future maturities of operating lease liabilities as of December 31, 2023, are summarized below:
| Operating Leases
Future Lease Maturities | ($ in millions)
2024 | $ | 80.9 |
2025 | 70.8 |
2026 | 55.0 |
2027 | 44.0 |
2028 | 37.1 |
Thereafter | 132.6 |
Total lease payments | 420.4 |
Less: Imputed interest(1) | (68.0) |
Present value of lease liabilities | $ | 352.4 |
(1) Calculated using the discount rate for each lease. Other information related to leases was as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Supplemental Cash Flows Information | ($ in millions)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 88.8 |  |  | $ | 93.1 |  |  | $ | 97.4 |
Operating cash flows from finance leases | — |  |  | 0.1 |  |  | 0.1 |
Financing cash flows from finance leases | 1.9 |  |  | 1.1 |  |  | 1.1 |
Non-cash increase in lease assets and lease liabilities: |  |  |  |  |
Operating leases | $ | 71.1 |  |  | $ | 71.8 |  |  | $ | 56.7 |
Finance leases | — |  |  | — |  |  | 0.1 |
| December 31,
| 2023 |  | 2022
Weighted-Average Remaining Lease Term |
Operating leases | 8.9 years |  | 9.1 years
Finance leases | — |  |  | 1.6 years
Weighted-Average Discount Rate |
Operating leases | 4.0 | % |  | 3.4 | %
Finance leases | — | % |  | 3.6 | %
As of December 31, 2023, we have additional operating leases that have not yet commenced of approximately $1.5 million which are expected to commence during 2024 with lease terms between 2 years and 3 years.

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- Definition The entire disclosure for operating and finance leases of the lessee. It includes all components of the operating and finance leases and related disclosures, including descriptions of operating and finance leases, maturity analyses, and supplemental information. + References No definition available. + Details
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- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration