Leases

12 Months Ended

Dec. 31, 2024

Leases

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

COMPONENTS OF LEASE EXPENSE


	For The Years Ended December 31,
	2024		2023		2022
Operating lease costs	$	12.9	$	9.4	$	8.3
Finance lease costs:
Amortization of ROU assets	0.3		—		—
Interest on lease liabilities	0.5		—		—
Total finance lease costs	0.8		0.0		0.0
Variable lease costs	0.5		0.3		0.3
Total lease costs	$	14.2	$	9.7	$	8.6

SUPPLEMENTAL BALANCE SHEET INFORMATION


		December 31,
	Balance Sheet Caption	2024		2023
Lease ROU assets
Operating lease assets	Other assets, net	$	39.1	$	31.7
Finance lease assets, net	Property, plant and equipment, net	$	8.3	$	—

Lease Liabilities
Current operating lease liabilities	Accounts payable and accrued liabilities	$	11.1	$	8.5
Current finance lease liabilities	Current portion of long-term debt	$	0.6	$	—

Non-current operating lease liabilities	Deferred tax liabilities and other long-term obligations	$	28.3	$	24.2
Non-current finance lease liabilities	Long-term debt	$	8.4	$	—

Total operating lease liabilities		$	39.4	$	32.7
Total finance lease liabilities		$	9.1	$	—

LEASE TERM AND DISCOUNT RATE


	December 31,
	2024		2023
Weighted average remaining lease term (years)
Operating leases	4.3		4.1
Finance leases	12.3		0.0
Weighted average discount rate
Operating leases	6.5	%	6.1	%
Finance leases	7.4	%	—	%

SUPPLEMENTAL CASH FLOW INFORMATION

The table below includes lease information for both continuing and discontinued operations.


	For The Years Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	20.7	$	19.6	$	19.7
Operating cash flows from finance leases	1.6		2.0		2.1
Financing cash flows from finance leases	1.1		0.9		1.1
Non-cash amounts for lease liabilities arising from obtaining ROU assets:
Operating leases	$	3.5	$	32.7	$	6.4
Finance leases	—		—		4.2
Operating leases assumed on business acquisition	14.5		—		—
Finance leases assumed on business acquisition	8.6		—		—

MATURITY OF LEASE LIABILITIES

As of December 31, 2024, our future maturities of lease liabilities were as follows:


	Operating		Finance
2025	$	13.2	$	1.3
2026	11.6		1.3
2027	9.1		1.3
2028	4.5		1.2
2029	2.5		1.2
Thereafter	4.5		7.7
Total lease payments	45.4		13.9
Less imputed interest	(6.0)		(4.8)
Present value of lease liabilities	$	39.4	$	9.1

As discussed in Note 4, "Discontinued Operations," we entered into a Lease Agreement associated with the sale of our tissue operations. This lease is included in "Accounts payable and accrued liabilities" and "Deferred tax liabilities and other long-term obligations" on our Consolidated Balance Sheets. The maturity analysis of lease income associated with the agreement as of December 31, 2024 is as follows:


	Total
2025	$	4.8
2026	4.4
2027	4.0
2028	3.6
2029	3.3
Thereafter	12.1
Total	$	32.1