Leases

3 Months Ended

Mar. 31, 2025

We have operating and finance leases for automobiles, machinery, equipment, warehouses, and office buildings. Our leases have remaining terms ranging from less than one year to 13 years, some of which include options to extend the leases from one to five years, and some of which include options to terminate the leases within one year.

Supplemental balance sheet information related to leases is as follows:


	Classification	March 31, 2025		December 31, 2024
Lease assets
Operating lease right-of-use assets, net	Assets	$	21.6	$	20.9
Finance lease right of use assets, net	Property, plant, and equipment, net	4.0		4.1
Total lease assets		$	25.6	$	25.0
Lease liabilities
Operating lease liabilities, current	Current liabilities	$	4.1	$	4.0
Operating lease liabilities, non-current	Non-current liabilities	21.5		20.8
Finance lease liabilities, current	Current portion of long-term debt	1.7		1.6
Finance lease liabilities, non-current	Long-term debt	2.4		2.7
Total lease liabilities		$	29.7	$	29.1

The components of lease costs included in our Unaudited Condensed Consolidated Statements of Operations were as follows:


	Three Months Ended March 31,
	2025		2024
Operating leases
Operating lease costs	$	1.5	$	1.3
Variable lease costs	0.3		0.2
Total operating lease costs	$	1.8	$	1.5
Finance leases
Amortization of right-of-use asset	$	0.5	$	0.6
Total finance lease costs	$	0.5	$	0.6

Maturities of lease liabilities as of March 31, 2025 are as follows:


	Operating		Finance		Total
2025 (Remaining nine months)	$	4.8	$	1.5	$	6.3
2026	5.2		1.8		7.0
2027	3.8		1.0		4.8
2028	3.2		0.2		3.4
2029	3.0		0.1		3.1
2030 and thereafter	20.2		0.1		20.3
Total lease payments	40.2		4.7		44.9
Less lease interest	(14.6)		(0.6)		(15.2)
Total lease liabilities	$	25.6	$	4.1	$	29.7

Additional information related to leases is presented as follows:


	March 31, 2025	December 31, 2024
Operating leases
Weighted average remaining lease term	9.7 years	10.0 years
Weighted average discount rate	10.0%	10.0%
Finance leases
Weighted average remaining lease term	2.7 years	2.8 years
Weighted average discount rate	9.4%	9.6%


	Three Months Ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1.7	$	1.7
Financing cash flows from finance leases	0.5		0.3
Total cash paid	$	2.2	$	2.0
Right-of-use assets obtained in exchange for lease liabilities
Leased assets obtained in exchange for new operating lease liabilities	$	1.1	$	0.1
Leased assets obtained in exchange for new finance lease liabilities	0.2		0.3
Right-of-use assets obtained in exchange for lease liabilities	$	1.3	$	0.4