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Lease Obligations | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Lease Obligations | Lease Obligations Substantially all of our operating lease right-of-use assets and operating lease liabilities represent leases for certain operating facilities, warehouses, office space, trucking equipment, and various other assets. Finance lease balances consist of vehicle and certain equipment leases. Our leases have terms that expire at various dates through 2039, some of which include options to extend or terminate the leases at our discretion. At December 31, 2024, we had $4.0 of additional operating leases that had not yet commenced. These leases will commence in 2025 with average lease terms of five years. Supplemental balance sheet information related to leases was as follows:
| December 31,
| 2024 |  | 2023
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 175.7 |  |  | $ | 193.2 |
Current portion of operating lease liabilities | $ | 53.4 |  |  | $ | 57.3 |
Operating lease liabilities | 131.1 |  |  | 150.5 |
Total operating lease liabilities | $ | 184.5 |  |  | $ | 207.8 |
Finance leases: |  |  |
Sundry | $ | 3.6 |  |  | $ | 4.0 |
Current maturities of long-term debt | $ | 1.3 |  |  | $ | 1.2 |
Long-term debt | 2.4 |  |  | 2.8 |
Total finance lease liabilities | $ | 3.7 |  |  | $ | 4.0 |
The components of lease expense were as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Operating lease costs: |  |  |  |  |
Lease costs | $ | 65.6 |  |  | $ | 65.4 |  |  | $ | 56.1 |
Variable lease costs | 15.0 |  |  | 18.6 |  |  | 15.1 |
Total operating lease costs | $ | 80.6 |  |  | $ | 84.0 |  |  | $ | 71.2 |
Short-term lease costs | $ | 6.6 |  |  | $ | 6.6 |  |  | $ | 6.6 |
Finance lease costs: |  |  |  |  |
Amortization of right-of-use assets | $ | 1.5 |  |  | $ | 1.8 |  |  | $ | 1.7 |
Interest on lease liabilities | .1 |  |  | .1 |  |  | .1 |
Total finance lease costs | $ | 1.6 |  |  | $ | 1.9 |  |  | $ | 1.8 |
Total lease costs | $ | 88.8 |  |  | $ | 92.5 |  |  | $ | 79.6 |
Variable lease costs consist primarily of taxes, insurance, and common-area or other maintenance costs for our leased facilities and equipment, which are paid based on actual costs incurred by the lessor. Supplemental cash flow information related to leases was as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 66.5 |  |  | $ | 60.4 |  |  | $ | 52.4 |
Operating cash flows from finance leases | .1 |  |  | .1 |  |  | .1 |
Financing cash flows from finance leases | 1.5 |  |  | 1.8 |  |  | 1.7 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 44.6 |  |  | 59.8 |  |  | 53.0 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 1.1 |  |  | 1.4 |  |  | 1.4 |
The following table reconciles the undiscounted cash flows for the operating and finance leases at December 31, 2024 to the operating and finance lease liabilities recorded on the Consolidated Balance Sheets:
| December 31, 2024
| Operating Leases |  | Finance Leases
2025 | $ | 58.3 |  |  | $ | 1.4 |
2026 | 53.1 |  |  | 1.2 |
2027 | 36.7 |  |  | .9 |
2028 | 19.6 |  |  | .4 |
2029 | 11.6 |  |  | — |
Thereafter | 16.1 |  |  | — |
Total | 195.4 |  |  | 3.9 |
Less: interest | 10.9 |  |  | .2 |
Lease liability | $ | 184.5 |  |  | $ | 3.7 |
Weighted average remaining lease term (years) | 4.2 |  | 3.2
Weighted average discount rate | 2.9 | % |  | 3.1 | %
Lease Obligations | Lease Obligations Substantially all of our operating lease right-of-use assets and operating lease liabilities represent leases for certain operating facilities, warehouses, office space, trucking equipment, and various other assets. Finance lease balances consist of vehicle and certain equipment leases. Our leases have terms that expire at various dates through 2039, some of which include options to extend or terminate the leases at our discretion. At December 31, 2024, we had $4.0 of additional operating leases that had not yet commenced. These leases will commence in 2025 with average lease terms of five years. Supplemental balance sheet information related to leases was as follows:
| December 31,
| 2024 |  | 2023
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 175.7 |  |  | $ | 193.2 |
Current portion of operating lease liabilities | $ | 53.4 |  |  | $ | 57.3 |
Operating lease liabilities | 131.1 |  |  | 150.5 |
Total operating lease liabilities | $ | 184.5 |  |  | $ | 207.8 |
Finance leases: |  |  |
Sundry | $ | 3.6 |  |  | $ | 4.0 |
Current maturities of long-term debt | $ | 1.3 |  |  | $ | 1.2 |
Long-term debt | 2.4 |  |  | 2.8 |
Total finance lease liabilities | $ | 3.7 |  |  | $ | 4.0 |
The components of lease expense were as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Operating lease costs: |  |  |  |  |
Lease costs | $ | 65.6 |  |  | $ | 65.4 |  |  | $ | 56.1 |
Variable lease costs | 15.0 |  |  | 18.6 |  |  | 15.1 |
Total operating lease costs | $ | 80.6 |  |  | $ | 84.0 |  |  | $ | 71.2 |
Short-term lease costs | $ | 6.6 |  |  | $ | 6.6 |  |  | $ | 6.6 |
Finance lease costs: |  |  |  |  |
Amortization of right-of-use assets | $ | 1.5 |  |  | $ | 1.8 |  |  | $ | 1.7 |
Interest on lease liabilities | .1 |  |  | .1 |  |  | .1 |
Total finance lease costs | $ | 1.6 |  |  | $ | 1.9 |  |  | $ | 1.8 |
Total lease costs | $ | 88.8 |  |  | $ | 92.5 |  |  | $ | 79.6 |
Variable lease costs consist primarily of taxes, insurance, and common-area or other maintenance costs for our leased facilities and equipment, which are paid based on actual costs incurred by the lessor. Supplemental cash flow information related to leases was as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 66.5 |  |  | $ | 60.4 |  |  | $ | 52.4 |
Operating cash flows from finance leases | .1 |  |  | .1 |  |  | .1 |
Financing cash flows from finance leases | 1.5 |  |  | 1.8 |  |  | 1.7 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 44.6 |  |  | 59.8 |  |  | 53.0 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 1.1 |  |  | 1.4 |  |  | 1.4 |
The following table reconciles the undiscounted cash flows for the operating and finance leases at December 31, 2024 to the operating and finance lease liabilities recorded on the Consolidated Balance Sheets:
| December 31, 2024
| Operating Leases |  | Finance Leases
2025 | $ | 58.3 |  |  | $ | 1.4 |
2026 | 53.1 |  |  | 1.2 |
2027 | 36.7 |  |  | .9 |
2028 | 19.6 |  |  | .4 |
2029 | 11.6 |  |  | — |
Thereafter | 16.1 |  |  | — |
Total | 195.4 |  |  | 3.9 |
Less: interest | 10.9 |  |  | .2 |
Lease liability | $ | 184.5 |  |  | $ | 3.7 |
Weighted average remaining lease term (years) | 4.2 |  | 3.2
Weighted average discount rate | 2.9 | % |  | 3.1 | %

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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