7. Leases Supplemental balance sheet information related to leases was as follows:
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Lease Type |
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Balance Sheet Classification |
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June 30, 2024 |
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December 31, 2023 |
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(In millions) |
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Assets |
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Operating lease assets |
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Trade and other receivables, net |
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$ |
0.1 |
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$ |
0.9 |
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Operating lease assets |
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Prepaid expenses and other current assets |
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2.7 |
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2.3 |
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Operating lease assets |
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Right of use lease assets, net |
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14.8 |
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19.1 |
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Financing lease assets |
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Property, plant, and equipment, net |
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5.4 |
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5.8 |
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Total lease assets |
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$ |
23.0 |
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$ |
28.1 |
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Liabilities |
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Financing lease liabilities |
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Current portion of long-term debt |
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$ |
0.8 |
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$ |
0.8 |
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Operating lease liabilities |
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Current portion of long-term lease liabilities |
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5.9 |
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7.0 |
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Financing lease liabilities |
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Long-term debt, less current portion |
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6.1 |
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6.5 |
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Operating lease liabilities |
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Long-term lease liabilities, less current portion |
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14.5 |
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18.9 |
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Total lease liabilities |
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$ |
27.3 |
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$ |
33.2 |
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The components of lease expense were as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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(In millions) |
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Operating lease cost |
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$ |
1.9 |
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$ |
2.5 |
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$ |
3.3 |
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$ |
4.9 |
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Financing lease cost: |
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Depreciation of lease assets |
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0.5 |
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0.5 |
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1.0 |
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0.9 |
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Interest on lease liabilities |
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0.1 |
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0.1 |
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0.2 |
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0.2 |
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Sublease income |
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(0.1 |
) |
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(0.1 |
) |
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(0.1 |
) |
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(0.3 |
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Total lease cost, net |
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$ |
2.4 |
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$ |
3.0 |
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$ |
4.4 |
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$ |
5.7 |
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