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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of Sales-Type Lease, Revenue | Revenue from sales-type leases (see Note 2) is included in services revenues within our consolidated statements of operations is as follows (in millions):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Sales-type lease selling price(1) | $ | 42.0 |  |  | $ | 30.3 |  |  | $ | 36.3 |
Cost of underlying assets | (16.0) |  |  | (13.8) |  |  | (17.6) |
Operating profit | $ | 26.0 |  |  | $ | 16.5 |  |  | $ | 18.7 |
Interest income | $ | 7.4 |  |  | $ | 6.1 |  |  | $ | 4.5 |
Leasing revenue attributable to sales-type leases | $ | 49.4 |  |  | $ | 36.4 |  |  | $ | 40.8 |
(1) Selling price is equal to the present value of lease payments over the non-cancelable term of the licensing agreement.
Schedule of Supplemental Balance Sheet Information Related to Leases | Leasing receivables related to our net investment in sales-type leases are as follows (in millions):
|  |  | December 31,
| Balance Sheet Location |  | 2024 |  | 2023
Leasing receivables, net—short-term | Other current assets |  | $ | 33.9 |  |  | $ | 26.9 |
Leasing receivables, net—long-term | Other assets, net |  | 71.2 |  |  | 65.1 |
Total leasing receivables |  |  | $ | 105.1 |  |  | $ | 92.0 |
Supplemental balance sheet information related to our operating and financing ROU assets and lease liabilities and DLF obligations is as follows (in millions):
|  |  | December 31, |
| Balance Sheet Location |  | 2024 |  | 2023 |
Assets |  |  |  |  |  |
Operating lease ROU assets, net | Operating lease ROU assets, net |  | $ | 1,339.2 |  |  | $ | 1,410.1 |  |
Financing lease ROU assets, net | Other assets, net |  | $ | 261.4 |  |  | $ | 257.4 |  |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating lease liabilities, short-term | Operating lease liabilities, short-term |  | $ | 89.3 |  |  | $ | 86.4 |  |
Financing lease liabilities, short-term | Accounts payable and accrued expenses |  | $ | 1.4 |  |  | $ | 1.4 |  |
DLF obligations, short-term | Accounts payable and accrued expenses |  | $ | 1.0 |  |  | $ | 0.1 |  |
Non-current |  |  |  |  |  |
Operating lease liabilities, long-term | Operating lease liabilities, long-term |  | $ | 1,377.1 |  |  | $ | 1,433.4 |  |
Financing lease liabilities, long-term | Other long-term liabilities |  | $ | 301.9 |  |  | $ | 287.9 |  |
DLF obligations, long-term | Deemed landlord financing obligations |  | $ | 1,194.8 |  |  | $ | 980.0 |  |
Schedule of Sales-Type Lease, Lease Receivable, Maturity | Net maturities of sales-type lease receivables for the next five years and thereafter as of December 31, 2024, are as follows (in millions):
| Sales-Type Leases
2025 | $ | 41.2 |
2026 | 29.3 |
2027 | 22.7 |
2028 | 15.6 |
2029 | 8.3 |
Thereafter | 2.8 |
Total future lease payments | 119.9 |
Less: imputed interest | 14.8 |
Total | $ | 105.1 |
Schedule of Components of Lease Expense and Other Information Related to Leases | The components of lease expense included in our consolidated statements of operations for the periods presented below are as follows (in millions):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Operating lease costs: |  | $ | 180.0 |  |  | $ | 176.1 |  |  | $ | 172.7 |
Financing lease costs: |  |  |  |  |  |
Amortization of ROU assets |  | 7.4 |  |  | 7.8 |  |  | 6.4 |
Interest on lease liabilities |  | 17.6 |  |  | 15.4 |  |  | 9.3 |
Total financing lease costs |  | 25.0 |  |  | 23.2 |  |  | 15.7 |
DLF obligation costs: |  |  |  |  |  |
Depreciation of DLF assets |  | 38.6 |  |  | 25.8 |  |  | 14.5 |
Interest on DLF obligations |  | 101.6 |  |  | 70.0 |  |  | 46.7 |
Total DLF obligation costs |  | 140.2 |  |  | 95.8 |  |  | 61.2 |
Variable lease costs |  | 12.5 |  |  | 11.8 |  |  | 10.2 |
Total lease costs |  | $ | 357.7 |  |  | $ | 306.9 |  |  | $ | 259.8 |
Other information related to leases (in millions):
|  | Year Ended December 31,
Supplemental Cash Flows Information |  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 167.0 |  |  | $ | 156.4 |  |  | $ | 157.0 |
Operating cash flows from finance leases |  | $ | 12.5 |  |  | $ | 8.5 |  |  | $ | 5.2 |
Operating cash flows from DLF obligations |  | $ | 77.0 |  |  | $ | 54.6 |  |  | $ | 36.9 |
Financing cash flows from finance leases |  | $ | 3.2 |  |  | $ | 2.8 |  |  | $ | 2.7 |
Financing cash flows from DLF obligations |  | $ | 7.6 |  |  | $ | 6.9 |  |  | $ | 4.8 |
Lease liabilities arising from new ROU assets: |  |  |  |  |  |
Operating leases |  | $ | 40.6 |  |  | $ | 83.5 |  |  | $ | 51.9 |
Finance leases |  | $ | 22.1 |  |  | $ | 27.0 |  |  | $ | 92.0 |
DLF obligations |  | $ | 195.7 |  |  | $ | 311.3 |  |  | $ | 193.8 |
| December 31,
| 2024 |  | 2023
Weighted-average remaining lease term (years): |  |  |
Operating leases | 15.2 |  | 15.9
Finance leases | 36.2 |  | 36.8
DLF obligations | 36.8 |  | 38.1
Weighted-average discount rate: |  |  |
Operating leases | 5.8 | % |  | 5.8 | %
Finance leases | 6.5 | % |  | 6.3 | %
DLF obligations | 9.4 | % |  | 10.0 | %
Schedule of Future Minimum Lease Obligations | As of December 31, 2024, our future minimum lease obligations were as follows (in millions):
| Operating Leases |  | Finance Leases |  | DLF Obligations(1) |  | Total
2025 | $ | 157.2 |  |  | $ | 15.3 |  |  | $ | 86.9 |  |  | $ | 259.4 |
2026 | 163.1 |  |  | 18.0 |  |  | 99.0 |  |  | 280.1 |
2027 | 160.0 |  |  | 18.1 |  |  | 100.4 |  |  | 278.5 |
2028 | 156.5 |  |  | 18.6 |  |  | 102.6 |  |  | 277.7 |
2029 | 153.3 |  |  | 19.1 |  |  | 105.0 |  |  | 277.4 |
Thereafter | 1,543.6 |  |  | 802.1 |  |  | 4,471.8 |  |  | 6,817.5 |
Total future lease payments | 2,333.7 |  |  | 891.2 |  |  | 4,965.7 |  |  | 8,190.6 |
Less: imputed interest | 867.3 |  |  | 587.9 |  |  | 3,769.9 |  |  | 5,225.1 |
Total | $ | 1,466.4 |  |  | $ | 303.3 |  |  | $ | 1,195.8 |  |  | $ | 2,965.5 |
(1) Future lease payments for DLF Obligations include approximately $24.1 million of reimbursements which we expect to receive from third-party financing partners that were not yet received as of December 31, 2024. Imputed interest includes approximately $114.3 million related to these unfunded DLF Obligations as of December 31, 2024.
Schedule of Future Minimum Lease Obligations | As of December 31, 2024, our future minimum lease obligations were as follows (in millions):
| Operating Leases |  | Finance Leases |  | DLF Obligations(1) |  | Total
2025 | $ | 157.2 |  |  | $ | 15.3 |  |  | $ | 86.9 |  |  | $ | 259.4 |
2026 | 163.1 |  |  | 18.0 |  |  | 99.0 |  |  | 280.1 |
2027 | 160.0 |  |  | 18.1 |  |  | 100.4 |  |  | 278.5 |
2028 | 156.5 |  |  | 18.6 |  |  | 102.6 |  |  | 277.7 |
2029 | 153.3 |  |  | 19.1 |  |  | 105.0 |  |  | 277.4 |
Thereafter | 1,543.6 |  |  | 802.1 |  |  | 4,471.8 |  |  | 6,817.5 |
Total future lease payments | 2,333.7 |  |  | 891.2 |  |  | 4,965.7 |  |  | 8,190.6 |
Less: imputed interest | 867.3 |  |  | 587.9 |  |  | 3,769.9 |  |  | 5,225.1 |
Total | $ | 1,466.4 |  |  | $ | 303.3 |  |  | $ | 1,195.8 |  |  | $ | 2,965.5 |
(1) Future lease payments for DLF Obligations include approximately $24.1 million of reimbursements which we expect to receive from third-party financing partners that were not yet received as of December 31, 2024. Imputed interest includes approximately $114.3 million related to these unfunded DLF Obligations as of December 31, 2024.

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-10 + Details
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