v3.25.4
LEASES
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES LEASES:
    The components of lease expense for the periods indicated are as follows:
Year ended December 31
202520242023
Finance lease expense:
Amortization of ROU assets (i)
$8.3 $7.6 $7.4 
Interest on lease obligations (ii)
3.1 3.4 3.7 
Operating lease expense (i)
42.1 40.0 35.4 
Short-term lease expense and variable lease expense (i)
2.6 2.1 1.8 
Total
$56.1 $53.1 $48.3 
(i)    Recorded within either cost of sales or SG&A on the consolidated statements of operations based on the nature of the leased assets.
(ii)    Recorded within finance costs on the consolidated statements of operations.

    Other information related to leases for the periods indicated is as follows:
December 31
20252024
ROU assets:
Operating lease ROU assets$124.1 $124.4 
Finance lease ROU assets (included in PP&E, net)
49.0 56.4 
Total ROU assets$173.1 $180.8 
Current portion of lease obligations:
Operating lease liability (included in accrued and other current liabilities and provisions)
$31.6 $25.7 
Finance lease liability (included in current portion of borrowings under credit facility and finance lease obligations)9.5 9.9 
Long-term portion of lease obligations:
Operating lease liability (included in other non-current liabilities and provisions)
107.6 109.4 
Finance lease liability (included in long-term portion of borrowings under credit facility and finance lease obligations)48.5 51.8 
Total lease obligations$197.2 $196.8 
Weighted-average remaining lease term (in years):
Operating leases6.27.1
Finance leases8.97.6
Weighted-average discount rates:
Operating leases7.0 %7.3 %
Finance leases5.1 %5.4 %
Year ended December 31
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases
$40.6 $37.9 $34.7 
Operating cash flows used for finance leases
$3.1 $3.4 $3.7 
Financing cash flows used for finance leases
$11.5 $9.7 $9.9 
ROU assets obtained in exchange for lease obligations:
Operating leases$38.2 $52.5 $53.7 
Finance leases$7.0 $— $— 

Future minimum lease payments required under non-cancellable leases at December 31, 2025 are as follows:
Operating leasesFinance leases
2026$40.1 $12.2 
202730.5 10.5 
202824.0 8.7 
202920.3 8.6 
203019.2 8.8 
Thereafter37.1 22.1 
Total minimum lease payments (i)
$171.2 $70.9 
Less: imputed interest(32.0)(12.9)
Total lease liabilities
$139.2 $58.0 
(i) Excludes $132.3 of payments related to leases signed but not yet commenced at December 31, 2025. These leases will commence between fiscal year 2026 and 2037 with lease terms of 3 to 10 years.
LEASES LEASES:
    The components of lease expense for the periods indicated are as follows:
Year ended December 31
202520242023
Finance lease expense:
Amortization of ROU assets (i)
$8.3 $7.6 $7.4 
Interest on lease obligations (ii)
3.1 3.4 3.7 
Operating lease expense (i)
42.1 40.0 35.4 
Short-term lease expense and variable lease expense (i)
2.6 2.1 1.8 
Total
$56.1 $53.1 $48.3 
(i)    Recorded within either cost of sales or SG&A on the consolidated statements of operations based on the nature of the leased assets.
(ii)    Recorded within finance costs on the consolidated statements of operations.

    Other information related to leases for the periods indicated is as follows:
December 31
20252024
ROU assets:
Operating lease ROU assets$124.1 $124.4 
Finance lease ROU assets (included in PP&E, net)
49.0 56.4 
Total ROU assets$173.1 $180.8 
Current portion of lease obligations:
Operating lease liability (included in accrued and other current liabilities and provisions)
$31.6 $25.7 
Finance lease liability (included in current portion of borrowings under credit facility and finance lease obligations)9.5 9.9 
Long-term portion of lease obligations:
Operating lease liability (included in other non-current liabilities and provisions)
107.6 109.4 
Finance lease liability (included in long-term portion of borrowings under credit facility and finance lease obligations)48.5 51.8 
Total lease obligations$197.2 $196.8 
Weighted-average remaining lease term (in years):
Operating leases6.27.1
Finance leases8.97.6
Weighted-average discount rates:
Operating leases7.0 %7.3 %
Finance leases5.1 %5.4 %
Year ended December 31
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases
$40.6 $37.9 $34.7 
Operating cash flows used for finance leases
$3.1 $3.4 $3.7 
Financing cash flows used for finance leases
$11.5 $9.7 $9.9 
ROU assets obtained in exchange for lease obligations:
Operating leases$38.2 $52.5 $53.7 
Finance leases$7.0 $— $— 

Future minimum lease payments required under non-cancellable leases at December 31, 2025 are as follows:
Operating leasesFinance leases
2026$40.1 $12.2 
202730.5 10.5 
202824.0 8.7 
202920.3 8.6 
203019.2 8.8 
Thereafter37.1 22.1 
Total minimum lease payments (i)
$171.2 $70.9 
Less: imputed interest(32.0)(12.9)
Total lease liabilities
$139.2 $58.0 
(i) Excludes $132.3 of payments related to leases signed but not yet commenced at December 31, 2025. These leases will commence between fiscal year 2026 and 2037 with lease terms of 3 to 10 years.