Leases

12 Months Ended

Dec. 31, 2022

We have operating leases for manufacturing, office, warehouse, equipment and vehicles. Our leases have remaining lease terms from less than one to thirteen years, and some of our leases include one or more options to renew.

COMPONENTS OF LEASE EXPENSE


	For The Years Ended December 31,
	2022		2021		2020
Operating lease costs	$	17.4	$	16.6	$	15.9
Finance lease costs:
Amortization of ROU assets	1.3		1.8		1.8
Interest on lease liabilities	2.1		1.7		1.8
Total finance lease costs	3.3		3.5		3.5
Variable lease costs	1.8		1.7		1.6
Total lease costs	$	22.5	$	21.8	$	21.0

SUPPLEMENTAL BALANCE SHEET INFORMATION


		December 31,
	Classification	2022		2021
Lease ROU assets
Operating lease assets	Other assets, net	$	43.3	$	53.6
Finance lease assets, net	Property, plant and equipment, net	$	15.4	$	12.5

Lease Liabilities
Current operating lease liabilities	Accounts payable and accrued liabilities	$	12.0	$	16.1
Current finance lease liabilities	Current portion of long-term debt	$	0.9	$	1.6

Non-current operating lease liabilities	Deferred tax liabilities and other long-term obligations	$	35.9	$	42.7
Non-current finance lease liabilities	Long-term debt	$	23.3	$	17.5

Total operating lease liabilities		$	47.9	$	58.8
Total finance lease liabilities		24.2		19.1

LEASE TERM AND DISCOUNT RATE


	December 31,
	2022		2021
Weighted average remaining lease term (years)
Operating leases	4.9		5.3
Finance leases	13.3		9.0
Weighted average discount rate
Operating leases	4.8	%	4.8	%
Finance leases	8.5	%	8.4	%

SUPPLEMENTAL CASH FLOW INFORMATION


	For The Years Ended December 31,
	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19.7	$	18.8	$	17.9
Operating cash flows from finance leases	2.1		1.6		1.8
Financing cash flows from finance leases	1.1		1.7		1.6
Non-cash amounts for lease liabilities arising from obtaining ROU assets:
Operating leases	$	6.4	$	5.0	$	4.4
Finance leases	4.2		—		0.3

MATURITY OF LEASE LIABILITIES

As of December 31, 2022, our future maturities of lease liabilities were as follows:


	Operating		Finance
2023	$	14.0	$	2.9
2024	10.5		2.8
2025	9.1		2.8
2026	7.8		2.9
2027	6.1		2.9
Thereafter	6.6		26.9
Total lease payments	54.0		41.2
Less imputed interest	(6.0)		(17.0)
Present value of lease liabilities	$	47.9	$	24.2