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Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Schedule Of Supplemental Balance Sheet Information Related To Leases | Supplemental consolidated balance sheet information related to our leases is as follows:
|  |  | December 31,
In millions | Financial Statement Caption |  | 2022 |  | 2021
Assets |  |  |  |  |
Operating lease assets, net (1) | Operating lease assets, net |  | $ | 56.6 |  |  | $ | 52.4 |
Finance lease assets, net (2) | Property, plant, and equipment, net |  | 60.1 |  |  | 53.9 |
Finance lease assets, net (2) | Other assets, net |  | 0.1 |  |  | 0.3 |
Total lease assets |  |  | $ | 116.8 |  |  | $ | 106.6 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating lease liabilities (3) | Current operating lease liabilities |  | $ | 16.5 |  |  | $ | 17.4 |
Finance lease liabilities | Notes payable and current maturities of long-term debt |  | 0.9 |  |  | 0.8 |
Noncurrent |  |  |  |  |
Operating lease liabilities | Noncurrent operating lease liabilities |  | 40.8 |  |  | 36.2 |
Finance lease liabilities | Long-term debt including finance lease obligations |  | 101.0 |  |  | 101.6 |
Total lease liabilities |  |  | $ | 159.2 |  |  | $ | 156.0 |
_______________ (1) Operating lease assets, net are recorded net of accumulated amortization of $40.8 million, and $35.5 million as of December 31, 2022, and 2021, respectively. (2) Finance lease assets, net are recorded net of accumulated amortization in Property, plant, and equipment, net and Other assets, net of $73.8 million and $1.4 million, as of December 31, 2022, and $69.6 million and $1.3 million, as of December 31, 2021. (3) Operating lease liabilities include $0.2 million, and $0.2 million of accrued interest, as of December 31, 2022 and 2021, respectively.
Lease Cost | Components of lease cost are as follows:
|  |  | Years Ended December 31,
In millions | Financial Statement Caption |  | 2022 |  | 2021 |  | 2020
Operating lease cost (1) | Cost of sales |  | $ | 19.9 |  |  | $ | 19.5 |  |  | $ | 19.4 |
| Selling, general, and administrative expenses |  | 1.4 |  |  | 1.4 |  |  | 1.9 |
Finance lease cost |  |  |  |  |  |  |
Amortization of leased assets | Cost of sales |  | $ | 3.0 |  |  | $ | 3.3 |  |  | $ | 2.6 |
| Selling, general, and administrative expenses |  | 1.6 |  |  | 1.6 |  |  | 0.8 |
Interest on lease liabilities | Interest expense, net |  | 7.5 |  |  | 7.5 |  |  | 6.8 |
Net lease cost (2) |  |  | $ | 33.4 |  |  | $ | 33.3 |  |  | $ | 31.5 |
_______________ (1) Includes short-term leases and variable lease costs, which are immaterial. (2) Only on the rare occasion do we sublease our leased assets; as a result, this amount excludes sublease income which is immaterial.
| Years Ended December 31,
In millions | 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 18.8 |  |  | $ | 20.5 |  |  | $ | 18.5 |
Operating cash flows from finance leases | 7.5 |  |  | 7.5 |  |  | 6.8 |
Financing cash flows from finance leases | 0.9 |  |  | 0.7 |  |  | 0.7 |
Finance Lease, Liability, Maturity |
| December 31, 2022
In millions | Operating leases |  | Finance leases |  | Total
2023 | $ | 18.8 |  |  | $ | 8.3 |  |  | $ | 27.1 |
2024 | 15.5 |  |  | 8.4 |  |  | 23.9 |
2025 | 11.8 |  |  | 8.4 |  |  | 20.2 |
2026 | 8.2 |  |  | 8.5 |  |  | 16.7 |
2027 | 5.8 |  |  | 85.5 |  |  | 91.3 |
2028 and thereafter | 3.9 |  |  | 19.6 |  |  | 23.5 |
Total lease payments | $ | 64.0 |  |  | $ | 138.7 |  |  | $ | 202.7 |
Less: Interest | 6.7 |  |  | 36.8 |  |  | 43.5 |
Present value of lease liabilities (1) | $ | 57.3 |  |  | $ | 101.9 |  |  | $ | 159.2 |
_______________ (1) As of December 31, 2022, we have zero operating lease commitments that have not yet commenced related to manufacturing and office equipment leases.
Lessee, Operating Lease, Liability, Maturity |
| December 31, 2022
In millions | Operating leases |  | Finance leases |  | Total
2023 | $ | 18.8 |  |  | $ | 8.3 |  |  | $ | 27.1 |
2024 | 15.5 |  |  | 8.4 |  |  | 23.9 |
2025 | 11.8 |  |  | 8.4 |  |  | 20.2 |
2026 | 8.2 |  |  | 8.5 |  |  | 16.7 |
2027 | 5.8 |  |  | 85.5 |  |  | 91.3 |
2028 and thereafter | 3.9 |  |  | 19.6 |  |  | 23.5 |
Total lease payments | $ | 64.0 |  |  | $ | 138.7 |  |  | $ | 202.7 |
Less: Interest | 6.7 |  |  | 36.8 |  |  | 43.5 |
Present value of lease liabilities (1) | $ | 57.3 |  |  | $ | 101.9 |  |  | $ | 159.2 |
_______________ (1) As of December 31, 2022, we have zero operating lease commitments that have not yet commenced related to manufacturing and office equipment leases.
Lease Term and Discount Rate |
| December 31,
In millions, except percentages | 2022 |  | 2021
Weighted-average remaining lease term (years) |  |  |
Operating leases | 4.4 |  | 4.1
Finance leases | 12.4 |  | 6.9
Weighted-average discount rate |  |  |
Operating leases | 5.16 | % |  | 4.97 | %
Finance leases | 7.19 | % |  | 7.18 | %

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