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Leases (Tables)
 12 Months Ended
Dec. 31, 2024
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 millionsFinancial Statement Caption20242023
Assets
Operating lease assets, net (1)
Operating lease assets, net$50.4 $67.1 
Finance lease assets, net (2)
Property, plant, and equipment, net50.2 55.0 
Finance lease assets, net (2)
Other assets, net— 0.1 
Total lease assets$100.6 $122.2 
Liabilities
Current
Operating lease liabilities (3)
Current operating lease liabilities$16.9 $18.7 
Finance lease liabilitiesNotes payable and current maturities of long-term debt1.1 1.1 
Noncurrent
Operating lease liabilitiesNoncurrent operating lease liabilities36.8 48.6 
Finance lease liabilitiesLong-term debt including finance lease obligations98.9 100.0 
Total lease liabilities$153.7 $168.4 
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(1) Operating lease assets, net are recorded net of accumulated amortization of $49.9 million and $40.7 million as of December 31, 2024, and 2023, respectively.
(2) Finance lease assets, net are recorded net of accumulated amortization in Property, plant, and equipment, net and Other assets, net of $81.4 million and $1.4 million, as of December 31, 2024, and $78.4 million and $1.5 million, as of December 31, 2023.
(3) Operating lease liabilities include $0.2 million and $0.5 million of accrued interest, as of December 31, 2024 and 2023, respectively.
Lease Cost
Components of lease cost are as follows:
Years Ended December 31,
In millionsFinancial Statement Caption202420232022
Operating lease cost (1)
Cost of sales$20.3 $21.0 $19.9 
Selling, general, and administrative expenses1.3 1.2 1.4 
Finance lease cost
Amortization of leased assetsCost of sales$3.2 $3.2 $3.0 
Selling, general, and administrative expenses1.6 1.6 1.6 
Interest on lease liabilitiesInterest expense, net7.3 7.3 7.5 
Net lease cost (2)
$33.7 $34.3 $33.4 
_______________
(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 millions202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$21.7 $22.5 $18.8 
Operating cash flows from finance leases7.3 7.3 7.5 
Financing cash flows from finance leases1.0 0.7 0.9 
Finance Lease, Liability, Maturity
December 31, 2024
In millionsOperating leasesFinance leasesTotal
2025$19.9 $8.3 $28.2 
202615.2 8.4 23.6 
202711.6 85.4 97.0 
20286.7 2.4 9.1 
20294.0 2.4 6.4 
2030 and thereafter3.5 15.2 18.7 
  Total lease payments$60.9 $122.1 $183.0 
Less: Interest7.2 22.1 29.3 
  Present value of lease liabilities (1)
$53.7 $100.0 $153.7 
_______________
(1) As of December 31, 2024, 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, 2024
In millionsOperating leasesFinance leasesTotal
2025$19.9 $8.3 $28.2 
202615.2 8.4 23.6 
202711.6 85.4 97.0 
20286.7 2.4 9.1 
20294.0 2.4 6.4 
2030 and thereafter3.5 15.2 18.7 
  Total lease payments$60.9 $122.1 $183.0 
Less: Interest7.2 22.1 29.3 
  Present value of lease liabilities (1)
$53.7 $100.0 $153.7 
_______________
(1) As of December 31, 2024, 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 and years20242023
Weighted-average remaining lease term (years)
Operating leases4.04.5
Finance leases10.911.9
Weighted-average discount rate
Operating leases5.95 %5.66 %
Finance leases5.44 %7.21 %