v3.24.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Summary of Lease Payments Captured in Lease Receivable
All lease payments are primarily fixed in nature and therefore captured in the lease receivable. Our sales-type lease receivable balances at December 31, 2023 and 2022 were as follows:
December 31,
(In millions)20232022
Short-Term (12 months or less)$8.5 $6.5 
Long-Term33.3 18.6 
Lease receivables$41.8 $25.1 
Assets and Liabilities, Lessee
The following table details our lease obligations included in our Consolidated Balance Sheets.
December 31,
(In millions)20232022
Other non-current assets:
Finance leases - ROU assets$36.0 $55.0 
Finance leases - Accumulated depreciation(14.9)(31.7)
Operating lease right-of-use-assets:
Operating leases - ROU assets203.1 156.7 
Operating leases - Accumulated depreciation(116.6)(86.5)
Total lease assets$107.6 $93.5 
Current portion of long-term debt:
Finance leases$(6.7)$(7.6)
Current portion of operating lease liabilities:
Operating leases (29.2)(24.0)
Long-term debt, less current portion:
Finance leases(12.8)(16.1)
Long-term operating lease liabilities, less current portion:
Operating leases(66.7)(49.6)
Total lease liabilities$(115.4)$(97.3)
Finance Leases, Future Minimum Annual Rental Commitments
At December 31, 2023, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:
(In millions)Finance leasesOperating leases
2024$8.1 $33.3 
20255.0 26.8 
20263.1 20.8 
20271.5 11.8 
20280.8 7.0 
Thereafter8.0 9.0 
Total lease payments26.5 108.7 
Less: Interest(7.0)(12.8)
Present value of lease liabilities$19.5 $95.9 
Operating Leases, Future Minimum Annual Rental Commitments
At December 31, 2023, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:
(In millions)Finance leasesOperating leases
2024$8.1 $33.3 
20255.0 26.8 
20263.1 20.8 
20271.5 11.8 
20280.8 7.0 
Thereafter8.0 9.0 
Total lease payments26.5 108.7 
Less: Interest(7.0)(12.8)
Present value of lease liabilities$19.5 $95.9 
Schedule of Lease Costs and Other Information
The following lease cost is included in our Consolidated Statements of Operations:
December 31,
(In millions)20232022
Lease cost(1)
Finance leases
Amortization of ROU assets$10.0 $10.5 
Interest on lease liabilities1.8 1.3 
Operating leases37.5 33.2 
Short-term lease cost3.5 2.7 
Variable lease cost6.6 7.0 
Total lease cost$59.4 $54.7 
(1)With the exception of Interest on lease liabilities, we record lease costs to Cost of sales or Selling, general and administrative expenses on the Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities is recorded to Interest expense, net on the Consolidated Statements of Operations.

The following table details cash paid related to operating and finance leases included in our Consolidated Statements of Cash Flows and new ROU assets included in our Consolidated Balance Sheets:
December 31,
(In millions)20232022
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - finance leases$4.3 $5.4 
Operating cash flows - operating leases$37.7 $30.6 
Financing cash flows - finance leases$9.0 $10.0 
ROU assets obtained in exchange for new finance lease liabilities$16.7 $8.8 
ROU assets obtained in exchange for new operating lease liabilities$49.9 $34.4 
December 31,
20232022
Weighted average information:
Finance leases
Remaining lease term (in years)6.46.1
Discount rate7.4 %4.9 %
Operating leases
Remaining lease term (in years)4.14.2
Discount rate5.8 %4.8 %