Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Components of lease expense

The components of lease expense were as follows (in millions):

	For the Years Ended December 31,
	2023		2022		2021
Finance lease cost:
Amortization of right-of-use assets	$	14.5	$	13.2	$	11.9
Interest on lease liabilities	1.7		0.7		0.5
Operating lease cost	74.1		67.7		62.2
Short-term lease cost	5.3		5.0		3.8
Variable lease cost	26.8		24.5		21.6
Total lease cost	$	122.4	$	111.1	$	100.0
Other information
Cash paid for amounts included in the measurement lease liabilities:
Operating cash flows from operating leases	$	70.5	$	66.0	$	61.8
Financing cash flows from finance leases	$	15.8	$	13.6	$	12.3
Right-of-use assets obtained in exchange for new finance lease liabilities	$	21.3	$	14.4	$	14.6
Right-of-use assets obtained in exchange for new operating lease liabilities	$	56.4	$	98.8	$	61.8

	As of December 31,
	2023			2022
Finance lease right-of-use assets(1)	$	38.4		$	33.3
Operating lease right-of-use assets	$	213.6		$	219.9
Finance lease liability, current(2)	$	12.1		$	11.2
Finance lease liability, non-current(3)	$	32.7		$	28.3
Operating lease liability, current	$	57.5		$	63.3
Operating lease liability, non-current	$	164.6		$	161.8
Weighted-average remaining lease term – finance leases	3.4 years			3.6 years
Weighted-average remaining lease term – operating leases	5.0 years			5.1 years
Weighted-average discount rate – finance leases	4.30		%	1.92		%
Weighted-average discount rate – operating leases	4.14		%	3.44		%
(1) Recorded in Property, plant and equipment in Consolidated Balance Sheet
(2) Recorded in Current maturities of long-term debt in Consolidated Balance Sheet
(3) Recorded in Long-term debt in Consolidated Balance Sheet

Summary of approximate minimum commitments under all non-cancelable leases outstanding

Future annual minimum lease payments and finance lease commitments as of December 31, 2023 were as follows (in millions). We have signed three real estate operating leases which have not yet commenced but create significant rights and obligations amounting to approximately $46.1 million and are excluded from the table below.

	Operating Leases		Finance Leases
2024	$	64.6	$	13.4
2025	51.6		10.8
2026	42.9		6.8
2027	31.6		3.1
2028	22.0		13.1
Thereafter	33.5		—
Total minimum lease payments	$	246.2	$	47.2
Less imputed interest	(24.1)		(2.4)
Present value of minimum payments	$	222.1	$	44.8

Summary of information related to our environmental reserve

Environmental

Environmental laws and regulations in the locations we operate can potentially impose obligations to remediate hazardous substances at our properties, properties formerly owned or operated by us, and facilities to which we have sent or send waste for treatment or disposal. We are aware of contamination at some facilities; however, we do not believe that any future remediation related to those facilities will be material to our results of operations. Total environmental accruals are included Accrued expenses and Other liabilities on the accompanying Consolidated Balance Sheets. Future environmental costs are estimates and may be subject to change due to changes in environmental remediation regulations, technology or site-specific requirements.

Summary of changes in the total warranty liabilities

Total product warranty liabilities are included in the following captions on the accompanying Consolidated Balance Sheets (in millions):

	As of December 31,
	2023		2022
Accrued expenses	$	45.4	$	41.3
Other liabilities	97.4		101.4
Total product warranty liabilities	$	142.8	$	142.7

The changes in product warranty liabilities related to continuing operations for the years ended December 31, 2023 and 2022 were as follows (in millions):

Total warranty liability as of December 31, 2021	$	134.2
Payments made in 2022	(36.3)
Changes resulting from issuance of new warranties	50.5
Changes in estimates associated with pre-existing liabilities	(4.7)
Changes in foreign currency translation rates and other	(1.0)
Total warranty liability as of December 31, 2022	$	142.7
Payments made in 2023	(40.1)
Changes resulting from issuance of new warranties	53.9
Changes in estimates associated with pre-existing liabilities	(13.9)
Changes in foreign currency translation rates and other	0.2
Total warranty liability as of December 31, 2023	$	142.8

Summary of self-insurance liabilities

Total self-insurance liabilities were included in the following captions on the accompanying Consolidated Balance Sheets (in millions):

	As of December 31,
	2023		2022
Accrued expenses	$	3.8	$	3.0
Other liabilities	15.1		14.6
Total self-insurance liabilities	$	18.9	$	17.6