XML 42 R35.htm IDEA: XBRL DOCUMENT v3.26.1
Leases (Tables)
3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Components of Lease Expense

The components of lease expense were as follows:

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Operating lease expense

$

6.7

 

 

$

6.9

 

Short-term lease expense

 

0.8

 

 

 

0.9

 

Low-value lease expense

 

0.4

 

 

 

0.3

 

Variable lease expense

 

3.5

 

 

 

3.1

 

Finance lease expense:

 

 

 

 

 

Amortization of right-of-use assets

 

2.8

 

 

 

2.9

 

Interest on lease liabilities

 

0.8

 

 

 

1.0

 

Sublease income

 

(0.1

)

 

 

(0.1

)

Total lease expense

$

14.9

 

 

$

15.0

 

 

Schedule of Additional Information Related to Leases

Additional information related to leases is presented in the table below:

 

Three Months Ended March 31,

 

Supplemental Cash Flows Information

2026

 

 

2025

 

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

 

 

 

 

 

Operating cash flows for operating leases

$

6.6

 

 

$

6.7

 

Operating cash flows for finance leases

 

0.8

 

 

 

1.0

 

Financing cash flows for finance leases

 

2.7

 

 

 

2.7

 

Non-cash right-of-use assets obtained in exchange for lease obligations:

 

 

 

 

 

Operating leases

 

2.2

 

 

 

3.5

 

Finance leases

 

1.0

 

 

 

5.0

 

Weighted Average Remaining Lease Term (in years):

 

 

 

 

 

Operating leases

 

7.8

 

 

 

8.5

 

Finance leases

 

3.5

 

 

 

4.2

 

Weighted Average Discount Rate (in %):

 

 

 

 

 

Operating leases

 

11.0

 

 

 

10.6

 

Finance leases

 

9.2

 

 

 

8.9

 

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 as of March 31, 2026 were as follows:

Years ending December 31,

Operating Leases

 

 

Finance Leases

 

Remainder of 2026

$

19.3

 

 

$

10.5

 

2027

 

25.0

 

 

 

12.5

 

2028

 

23.0

 

 

 

10.8

 

2029

 

17.4

 

 

 

7.1

 

2030

 

16.4

 

 

 

2.1

 

Thereafter

 

68.5

 

 

 

0.3

 

Total future minimum lease payments

 

169.6

 

 

 

43.3

 

Less: imputed interest

 

(56.9

)

 

 

(6.0

)

Total

$

112.7

 

 

$

37.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Location

March 31, 2026

 

 

December 31, 2025

 

Current portion of long-term debt

$

11.1

 

 

$

11.0

 

Current operating lease liabilities

 

15.0

 

 

 

15.0

 

Finance lease obligations, net of current portion

 

26.2

 

 

 

28.2

 

Long-term operating lease liabilities, net of current portion

 

97.7

 

 

 

100.1

 

Total

$

150.0

 

 

$

154.3

 

As of March 31, 2026, the Company had additional leases, substantially all real estate, that have not yet commenced with undiscounted lease payments of $14.5 million. These leases are expected to commence in 2026 with lease terms up to 15 years.