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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Components of Lease Expense | The components of lease expense were as follows:
| Year Ended December 31, |
| 2024 |  |  | 2023 |  |  | 2022 |
Operating lease expense | $ | 27.3 |  |  | $ | 27.0 |  |  | $ | 25.1 |
Short-term lease expense |  | 4.5 |  |  |  | 5.0 |  |  |  | 4.4 |
Low-value lease expense |  | 1.4 |  |  |  | 0.9 |  |  |  | 0.5 |
Variable lease expense |  | 10.3 |  |  |  | 9.0 |  |  |  | 6.6 |
Finance lease expense: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 10.3 |  |  |  | 6.5 |  |  |  | 4.0 |
Interest on lease liabilities |  | 3.8 |  |  |  | 2.6 |  |  |  | 1.0 |
Sublease income |  | (0.3 | ) |  |  | (0.3 | ) |  |  | (0.1 | )
Total lease expense | $ | 57.3 |  |  | $ | 50.7 |  |  | $ | 41.5 |
Additional
Schedule of Additional Information Related to Leases | information related to leases is presented in the table below:
| Year Ended December 31, |
Supplemental Cash Flows Information | 2024 |  |  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows for operating leases | $ | 26.2 |  |  | $ | 25.9 |  |  | $ | 24.2 |
Operating cash flows for finance leases |  | 3.8 |  |  |  | 2.6 |  |  |  | 1.0 |
Financing cash flows for finance leases |  | 9.2 |  |  |  | 5.7 |  |  |  | 3.6 |
Non-cash right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |  |
Operating leases |  | 19.3 |  |  |  | 13.9 |  |  |  | 29.3 |
Finance leases |  | 16.3 |  |  |  | 25.2 |  |  |  | 11.6 |
Weighted Average Remaining Lease Term (in years): |  |  |  |  |  |  |  |
Operating leases |  | 8.6 |  |  |  | 8.9 |  |  |  | 9.3 |
Finance leases |  | 4.3 |  |  |  | 4.7 |  |  |  | 4.5 |
Weighted Average Discount Rate (in %): |  |  |  |  |  |  |  |
Operating leases |  | 10.6 |  |  |  | 10.3 |  |  |  | 10.0 |
Finance leases |  | 8.7 |  |  |  | 8.5 |  |  |  | 7.6 |
Schedule of Minimum Future Lease Payments under Non-cancellable Operating and Finance Leases | Minimum future lease payments under non-cancellable operating and finance leases described above were as follows:
Year ending December 31, | Operating Leases |  |  | Finance Leases |
2025 | $ | 25.7 |  |  | $ | 13.9 |
2026 |  | 22.9 |  |  |  | 13.1 |
2027 |  | 21.4 |  |  |  | 11.5 |
2028 |  | 19.7 |  |  |  | 9.6 |
2029 |  | 15.1 |  |  |  | 5.7 |
Thereafter |  | 79.2 |  |  |  | 0.9 |
Total future minimum lease payments |  | 184.0 |  |  |  | 54.7 |
Less: imputed interest |  | (65.4 | ) |  |  | (8.7 | )
Total | $ | 118.6 |  |  | $ | 46.0 |
Balance Sheet Location | December 31, 2024 |  |  | December 31, 2023 |
Current portion of long-term debt | $ | 10.5 |  |  | $ | 7.7 |
Current operating lease liabilities |  | 15.1 |  |  |  | 15.9 |
Finance lease obligations, net of current portion |  | 35.5 |  |  |  | 31.1 |
Long-term operating lease liabilities, net of current portion |  | 103.5 |  |  |  | 99.6 |
Total | $ | 164.6 |  |  | $ | 154.3 |
Schedule of Minimum Rentals Receivable | Approximate minimum rentals receivable, none of which are recorded in our Consolidated Balance Sheets, under such leases for each of the next five years are as follows:
Years ending December 31, |  | Amount |
2025 |  | $ | 7.3 |
2026 |  |  | 5.4 |
2027 |  |  | 2.5 |
2028 |  |  | 0.3 |
2029 |  |  | 0.1 |
Total |  | $ | 15.6 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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