Leases (Tables)

6 Months Ended

Jun. 30, 2023

The components of lease costs are as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating lease cost:
General and administrative expenses	$	5.0	$	4.9	$	10.1	$	9.9
Finance lease cost:
Amortization of right-of-use assets	0.7		0.9		1.5		1.9
Interest on lease liabilities	—		0.1		0.1		0.1
Total finance lease cost	0.7		1.0		1.6		2.0
Total lease cost	$	5.7	$	5.9	$	11.7	$	11.9

Schedule of Supplemental Consolidated Balance Sheet Information

Supplemental consolidated balance sheet information related to leases is as follows (in millions):


	Classification	As of June 30, 2023		As of December 31, 2022
Assets
Operating lease	Operating lease right-of-use assets	$	49.3	$	42.0
Finance lease(1)	Property and equipment, net	8.7		10.1
Total lease assets		$	58.0	$	52.1

Liabilities
Current Liabilities:
Operating lease	Current portion of operating lease liabilities	$	11.7	$	14.0
Finance lease	Current portion of long-term debt	2.5		3.1
Noncurrent liabilities
Operating lease	Long-term operating lease liabilities, net of current portion	37.5		28.1
Finance lease	Long-term debt, net of current portion	1.5		2.1
Total lease liabilities		$	53.2	$	47.3

(1) Finance lease assets are recorded net of accumulated amortization of $20.6 million and $21.3 million as of June 30, 2023 and December 31, 2022, respectively.


	As of June 30,
	2023		2022
Weighted Average Remaining Lease Term
Operating lease	5.9 years		3.5 years
Finance lease	1.8 years		1.9 years
Weighted Average Discount Rate
Operating lease	6.3	%	4.0	%
Finance lease	3.4	%	2.4	%

Schedule of Maturities of Operating Lease Liabilities

Maturities of lease liabilities as of June 30, 2023 are as follows (in millions):


	Operating Leases		Finance Leases
July 1 through December 31, 2023	$	6.2	$	1.4
2024	9.4		1.8
2025	11.8		0.7
2026	9.0		0.1
2027	6.5		0.1
2028	4.0		—
2029 and thereafter	14.7		—
Total lease payments	61.6		4.1
Less: Interest portion	(12.4)		(0.1)
Total lease liabilities	$	49.2	$	4.0

Supplemental cash flow information related to our leases is as follows (in millions):


	Six Months Ended June 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8.0	$	8.6

Financing cash flows from finance leases	1.8		2.6

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	15.2	$	3.3
Finance leases	0.5		2.3

Schedule of Maturities of Finance Lease Liabilities

Maturities of lease liabilities as of June 30, 2023 are as follows (in millions):


	Operating Leases		Finance Leases
July 1 through December 31, 2023	$	6.2	$	1.4
2024	9.4		1.8
2025	11.8		0.7
2026	9.0		0.1
2027	6.5		0.1
2028	4.0		—
2029 and thereafter	14.7		—
Total lease payments	61.6		4.1
Less: Interest portion	(12.4)		(0.1)
Total lease liabilities	$	49.2	$	4.0

Supplemental cash flow information related to our leases is as follows (in millions):


	Six Months Ended June 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8.0	$	8.6

Financing cash flows from finance leases	1.8		2.6

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	15.2	$	3.3
Finance leases	0.5		2.3