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Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Lease Costs Included in the Condensed Consolidated Statements on Comprehensive Income and Cash Paid for Amounts Included in Measurements of Lease Liabilities and the Leased Assets Obtained in Exchange for New Operating and Finance Lease Liabilities | Lease costs included in the Consolidated Statements of Comprehensive Income consisted of the following:
| Classification |  | 2022 |  | 2021 |  | 2020
Operating lease costs |  |  |  |  |  |  |
Fixed | Cost of sales |  | $ | 2.9 |  |  | $ | 2.3 |  |  | $ | 1.8 |
| Selling and administrative expenses |  | 22.7 |  |  | 23.1 |  |  | 25.4 |
Short-term / variable | Cost of sales |  | 1.3 |  |  | 1.0 |  |  | 0.4 |
| Selling and administrative expenses |  | 1.5 |  |  | 0.7 |  |  | 1.8 |
Finance lease costs |  |  |  |  |  |  |
Amortization | Cost of sales |  | 1.2 |  |  | 0.9 |  |  | 0.5 |
| Selling and administrative, and interest expense |  | 2.5 |  |  | 1.9 |  |  | 0.3 |
Less: Sublease income |  |  |  |  |  |  |
| Cost of sales |  | 0.0 |  |  | (0.2) |  |  | — |
| Selling and administrative expenses |  | (0.3) |  |  | (0.3) |  |  | (0.1) |
Total lease costs |  |  | $ | 31.9 |  |  | $ | 29.4 |  |  | $ | 30.0 |
The following table summarizes cash paid for amounts included in the measurements of lease liabilities and the leased assets obtained in exchange for new operating and finance lease liabilities:
| 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurements of lease liabilities |  |  |  |  |
Operating cash flows from operating / finance leases | $ | 22.6 |  |  | $ | 24.7 |  |  | $ | 31.5 |
Financing cash flows from finance leases | $ | 3.3 |  |  | $ | 2.7 |  |  | $ | 0.7 |
Leased assets obtained in exchange for new operating / finance lease liabilities | $ | 39.2 |  |  | $ | 49.3 |  |  | $ | 27.3 |
Maturities of Finance Lease Liabilities | Maturity of lease liabilities as of December 31, 2022 is as follows:
| Operating Leases (a) |  | Finance Leases (b) |  | Total
2023 | $ | 22.8 |  |  | $ | 4.0 |  |  | $ | 26.8 |
2024 | 21.3 |  |  | 3.6 |  |  | 24.9 |
2025 | 20.3 |  |  | 3.2 |  |  | 23.5 |
2026 | 15.8 |  |  | 1.0 |  |  | 16.8 |
2027 | 11.4 |  |  | 0.1 |  |  | 11.5 |
Thereafter | 17.6 |  |  | — |  |  | 17.6 |
Total lease payments | 109.3 |  |  | 11.9 |  |  | 121.2 |
Less: Interest | (10.1) |  |  | (0.5) |  |  | (10.6) |
Present value of lease liabilities | $ | 99.2 |  |  | $ | 11.4 |  |  | $ | 110.6 |
(a)At this time there are no operating lease options to extend lease terms that are reasonably certain of being exercised. Currently the Corporation has $62.3 million of legally binding minimum lease payments for operating leases signed but not yet commenced, which are excluded from operating lease liabilities. These amounts primarily relate to a manufacturing facility under construction. See "Note 15. Guarantees, Commitments, and Contingencies" in the Notes to Consolidated Financial Statements for further information. (b)At this time there are no finance lease options to extend lease terms that are reasonably certain of being exercised. Currently the Corporation has $2.4 million of legally binding minimum lease payments for finance leases signed but not yet commenced, which are excluded from finance lease liabilities.
Maturities of Operating Lease Liabilities | Maturity of lease liabilities as of December 31, 2022 is as follows:
| Operating Leases (a) |  | Finance Leases (b) |  | Total
2023 | $ | 22.8 |  |  | $ | 4.0 |  |  | $ | 26.8 |
2024 | 21.3 |  |  | 3.6 |  |  | 24.9 |
2025 | 20.3 |  |  | 3.2 |  |  | 23.5 |
2026 | 15.8 |  |  | 1.0 |  |  | 16.8 |
2027 | 11.4 |  |  | 0.1 |  |  | 11.5 |
Thereafter | 17.6 |  |  | — |  |  | 17.6 |
Total lease payments | 109.3 |  |  | 11.9 |  |  | 121.2 |
Less: Interest | (10.1) |  |  | (0.5) |  |  | (10.6) |
Present value of lease liabilities | $ | 99.2 |  |  | $ | 11.4 |  |  | $ | 110.6 |
(a)At this time there are no operating lease options to extend lease terms that are reasonably certain of being exercised. Currently the Corporation has $62.3 million of legally binding minimum lease payments for operating leases signed but not yet commenced, which are excluded from operating lease liabilities. These amounts primarily relate to a manufacturing facility under construction. See "Note 15. Guarantees, Commitments, and Contingencies" in the Notes to Consolidated Financial Statements for further information. (b)At this time there are no finance lease options to extend lease terms that are reasonably certain of being exercised. Currently the Corporation has $2.4 million of legally binding minimum lease payments for finance leases signed but not yet commenced, which are excluded from finance lease liabilities.
Weighted Average Lease Terms and Discount Rates, Lessee | The following table summarizes the weighted-average discount rates and weighted-average remaining lease terms for operating and finance leases as of December 31, 2022:
| Weighted-Average Discount Rate |  | Weighted-Average Remaining Lease Term (years)
Operating leases | 3.3 | % |  | 5.6
Finance leases | 2.6 | % |  | 3.3

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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