Contingencies, Guarantees, Indemnifications and Leases (Tables)

12 Months Ended

Dec. 31, 2023

Contingencies, Guarantees, Indemnifications and Leases

Lease Assets and Liabilities

	December 31,
	2023		2022
	(in millions)
Assets
Operating lease assets (1)	$	176.7	$	194.7
Finance lease assets (1)		73.9		82.4
Total lease assets	$	250.6	$	277.1
Liabilities
Operating lease liabilities (2)	$	175.6	$	196.5
Finance lease liabilities (2)		74.8		83.0
Total lease liabilities	$	250.4	$	279.5

(1) Operating and finance lease assets are primarily reported within property and equipment on the consolidated statements of financial position.

(2) Operating and finance lease liabilities are reported within other liabilities on the consolidated statements of financial position.

Lease Cost

	For the year ended December 31,
	2023		2022		2021
	(in millions)
Finance lease cost (1):
Amortization of right-of-use assets	$	32.9	$	34.0	$	30.5
Interest on lease liabilities		1.9		1.2		1.0
Operating lease cost (1)		56.1		61.6		66.6
Other lease cost (1) (2)		9.5		12.4		10.8
Sublease income (3)		(0.3)		(1.5)		(1.7)
Total lease cost	$	100.1	$	107.7	$	107.2

(1) Finance, operating and other lease costs are primarily included in operating expenses on the consolidated statements of operations.

(2) Other lease cost primarily reflects variable and short-term lease costs.

(3) Sublease income is included in fees and other revenues on the consolidated statements of operations.

Future Payments Due by Period for Lease Obligations

	Operating leases		Finance leases		Total
	(in millions)
For the twelve months ending December 31:
2024	$	46.9	$	31.1	$	78.0
2025		41.1		23.4		64.5
2026		36.2		17.1		53.3
2027		30.4		7.5		37.9
2028		15.9		0.1		16.0
2029 and thereafter		26.3		—		26.3
Total lease payments		196.8		79.2		276.0
Less: interest		21.2		4.4		25.6
Present value of lease liabilities	$	175.6	$	74.8	$	250.4

Weighted-Average Remaining Lease Term and Weighted-Average Discount Rates

	For the year ended December 31,
	2023		2022		2021
Weighted-average remaining lease term (in years):
Operating leases	6.0		6.4		6.5
Finance leases	3.0		2.8		3.2
Weighted-average discount rate:
Operating leases	3.6	%	3.6	%	3.4	%
Finance leases	3.5	%	1.7	%	1.0	%