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LEASES (Tables)
9 Months Ended
Sep. 30, 2024
LEASES  
Schedule of future minimum lease payments under non-cancelable operating leases
 

As of September 30, 2024
Maturity of Lease Liabilities (in millions)

Operating Leases (1)
Remainder of 2024

$
13.4
2025

45.1
2026

34.3
2027

23.3
2028

13.6
Thereafter

21.8
Total lease payments

$
151.5
Less: imputed interest

(9.1
)
Present value of lease liabilities

$
142.4

(1)  Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements.

Schedule of lease expense recognized in the Consolidated Statements of Income
Lease expense recognized in the Consolidated Statements of Income is summarized as follows: 

Lease Expense 
(in millions)
Income Statement Classification
Three Months Ended
September 30, 2024

Three Months Ended
September 30, 2023

Nine Months Ended

September 30, 2024

Nine Months Ended

September 30, 2023


Operating lease expense
Selling, general and administrative and Direct operating costs
$
13.2

$
12.6

$ 38.7

$ 37.6
Short-term and variable lease expense 
Selling, general and administrative and Direct operating costs
 
46.3

47.0


126.3


124.7
Total lease expense
 
$
59.5

$
59.6

$ 165.0

$ 162.3
Schedule of Lease Term and Discount Rate of Operating Leases
Other information about lease amounts recognized in the consolidated financial statements is summarized as follows: 
Lease Term and Discount Rate of Operating Leases
 
As of September 30, 2024
Weighted- average remaining lease term (years)
 
4.2
Weighted- average discount rate
 
2.9
%
Schedule of supplemental cash flow and non-cash information related to leases
The following table presents supplemental cash flow and non-cash information related to leases.

Other Information (in millions)
 
Nine Months Ended
September 30, 2024
Nine Months Ended
September 30, 2023

Cash paid for amounts included in the measurement of lease liabilities (a)
 
$
38.7
$
37.5

Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:
 
 

ROU assets obtained in exchange for new operating lease liabilities
 
$
49.1
$
83.4

 

         (a) Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.