Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

15. Leases

Operating lease cost is recognized over the lease term on a straight-line basis, while finance lease cost is amortized over the expected term on a straight-line basis. Variable lease cost not dependent on an index or rate is recognized when incurred and typically consists of amounts owed by the Company to a lessor that are not fixed, such as reimbursement for common area maintenance and utilities cost.

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

	2022			2021			2020
Amortization of right-of-use assets	$	3.3		$	1.5		$	0.7
Interest on lease liabilities		0.6			0.1			0.1
Total finance lease cost		3.9			1.6			0.8
Operating lease cost		20.4			24.0			23.3
Short term lease cost		5.6			4.2			3.9
Variable lease cost		5.0			3.0			3.4
Sublease income		(1.7	)		(2.0	)		(1.9	)
Total lease cost	$	33.2		$	30.8		$	29.5

Supplemental balance sheet information related to leases was as follows (dollars in millions):

	December 31,
	2022		2021
Operating leases
Operating lease assets, net	$	51.2	$	59.9
Other current liabilities		16.4		17.9
Operating lease liability—long term		34.8		41.8

	December 31,
	2022			2021			2020
Weighted average remaining lease term	4.6			5.1 years			5.2 years
Weighted average discount rate		1.8	%		1.6	%		1.9	%

	December 31,
	2022		2021
Finance leases
Property, plant and equipment, net	$	14.2	$	4.6
Current portion of long-term debt		2.4		1.7
Long-term debt		11.7		2.6

	December 31,
	2022			2021			2020
Weighted average remaining lease term	10.2			2.9 years			3.3 years
Weighted average discount rate		3.0	%		1.6	%		2.2	%

Supplemental cash flow information related to leases was as follows (in millions):

	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	0.6	$	0.1	$	0.1
Operating cash flows from operating leases		20.1		21.2		24.0
Financing cash flows from finance leases		3.3		1.6		0.9
Right-of-use assets obtained in exchange for lease liabilities
Operating leases	$	22.8	$	21.2	$	24.3
Finance leases		13.6		2.7		2.6

Future lease payments under operating leases and finance leases as follows (in millions):

	Operating Leases		Finance Leases
Twelve months ending December 31:
2023	$	16.5	$	2.7
2024		11.5		2.2
2025		8.6		1.6
2026		6.1		1.1
2027		3.4		0.9
Thereafter		5.1		7.2
Total undiscounted lease payments		51.2		15.7
Less: imputed interest		—		(1.6	)
Total lease liabilities	$	51.2	$	14.1