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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Components of Lease Expense and Other Information

The components of lease expense for the years ended December 31, 2024, 2023 and 2022, were as follows:

 

(in millions)

 

2024

 

 

2023

 

 

2022

 

Operating lease cost

 

$

29.0

 

 

$

28.6

 

 

$

29.5

 

Sublease income

 

 

(3.1

)

 

 

(2.5

)

 

 

(2.4

)

 Total lease cost

 

$

25.9

 

 

$

26.1

 

 

$

27.1

 

 

Other information related to leases for the years ended December 31, 2024 and 2023 was as follows:

 

 

 

Twelve Months Ended
December 31,

 

(in millions, except lease term and discount rate)

 

2024

 

 

2023

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

27.9

 

 

$

29.8

 

Right-of-use assets obtained in exchange for lease obligations:

 

 

 

 

 

 

Operating leases

 

$

19.5

 

 

$

23.2

 

 

 

 

 

 

 

Weighted average remaining lease term:

 

 

 

 

 

 

Operating leases

 

5.6 years

 

 

 

 

 

 

 

 

 

 

 

Weighted average discount rate:

 

 

 

 

 

 

Operating leases

 

 

5.3

 %

 

 

 

 

Schedule of Future Minimum Lease Payments, Net of Sublease Income

Future minimum lease payments, net of sub-lease income, for all non-cancelable leases as of December 31, 2024 were as follows:

 

(in millions)

 

Operating
Leases

 

2025

 

 

26.2

 

2026

 

 

21.4

 

2027

 

 

16.6

 

2028

 

 

13.6

 

2029

 

 

10.6

 

Thereafter

 

 

17.8

 

Total minimum lease payments

 

 

106.2

 

Less imputed interest

 

 

17.8

 

Future minimum payments for leases, net of sublease rental income and imputed interest

 

$

88.4