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Leases
9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Leases
4. LEASES

The Company has operating and finance leases for manufacturing facilities, warehouses and distribution centers, office space, and certain equipment. Remaining lease terms for these leases range from 1 year to 11 years. Some of the Company's leases include options to extend the leases for up to 26 years, and some include options to terminate the leases within 1 year.

Supplemental balance sheet information related to leases was as follows:
Balance Sheet ClassificationSeptember 30, 2022December 31, 2021
(In millions)
Assets
OperatingOperating lease right-of-use assets$182.9 $138.1 
FinanceProperty, plant, and equipment, net1.3 2.2 
Total assets$184.2 $140.3 
Liabilities
Current liabilities
OperatingAccrued expenses$38.1 $33.1 
FinanceCurrent portion of long-term debt0.6 1.0 
Total current liabilities38.7 34.1 
Noncurrent liabilities
OperatingOperating lease liabilities158.6 119.0 
FinanceLong-term debt0.7 1.2 
Total noncurrent liabilities159.3 120.2 
Total lease liabilities$198.0 $154.3 

The weighted-average discount rates for the Company's operating and finance leases are as follows:

Weighted-average discount rateSeptember 30, 2022December 31, 2021
Operating leases4.3 %4.3 %
Finance leases2.7 %2.9 %

The weighted-average remaining lease term of the Company's operating and finance leases are as follows:

Weighted-average remaining lease termSeptember 30, 2022December 31, 2021
Operating leases5.9 years6.7 years
Finance leases2.5 years2.8 years
The components of lease expense were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
Statement of Operations Classification2022202120222021
(In millions)
Operating lease costCost of sales and General and administrative$12.1 $8.5 $29.0 $25.8 
Finance lease cost:
Amortization of right-of-use assetsCost of sales and General and administrative0.3 0.3 0.9 1.1 
Interest on lease liabilitiesInterest expense— — — 0.1 
Total finance lease cost0.3 0.3 0.9 1.2 
Variable lease cost (1)Cost of sales and General and administrative3.7 4.2 11.9 11.6 
Net lease cost$16.1 $13.0 $41.8 $38.6 

(1)    Includes short-term leases, which are immaterial.

Future maturities of lease liabilities were as follows:
Operating Leases (1)Finance Leases
(In millions)
Three months ended December 31, 2022$11.3 $0.2 
202344.2 0.5 
202438.8 0.4 
202535.6 0.2 
202634.8 — 
Thereafter59.6 — 
Total lease payments224.3 1.3 
Less: Interest(27.6)— 
Present value of lease liabilities$196.7 $1.3 

(1)     Operating lease payments include $2.8 million related to options to extend lease terms that are reasonably certain of being exercised.

Other information related to leases were as follows:
Nine Months EndedNine Months Ended
September 30, 2022September 30, 2021
(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$27.8 $27.6 
Financing cash flows from finance leases1.0 1.3 
Leases
4. LEASES

The Company has operating and finance leases for manufacturing facilities, warehouses and distribution centers, office space, and certain equipment. Remaining lease terms for these leases range from 1 year to 11 years. Some of the Company's leases include options to extend the leases for up to 26 years, and some include options to terminate the leases within 1 year.

Supplemental balance sheet information related to leases was as follows:
Balance Sheet ClassificationSeptember 30, 2022December 31, 2021
(In millions)
Assets
OperatingOperating lease right-of-use assets$182.9 $138.1 
FinanceProperty, plant, and equipment, net1.3 2.2 
Total assets$184.2 $140.3 
Liabilities
Current liabilities
OperatingAccrued expenses$38.1 $33.1 
FinanceCurrent portion of long-term debt0.6 1.0 
Total current liabilities38.7 34.1 
Noncurrent liabilities
OperatingOperating lease liabilities158.6 119.0 
FinanceLong-term debt0.7 1.2 
Total noncurrent liabilities159.3 120.2 
Total lease liabilities$198.0 $154.3 

The weighted-average discount rates for the Company's operating and finance leases are as follows:

Weighted-average discount rateSeptember 30, 2022December 31, 2021
Operating leases4.3 %4.3 %
Finance leases2.7 %2.9 %

The weighted-average remaining lease term of the Company's operating and finance leases are as follows:

Weighted-average remaining lease termSeptember 30, 2022December 31, 2021
Operating leases5.9 years6.7 years
Finance leases2.5 years2.8 years
The components of lease expense were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
Statement of Operations Classification2022202120222021
(In millions)
Operating lease costCost of sales and General and administrative$12.1 $8.5 $29.0 $25.8 
Finance lease cost:
Amortization of right-of-use assetsCost of sales and General and administrative0.3 0.3 0.9 1.1 
Interest on lease liabilitiesInterest expense— — — 0.1 
Total finance lease cost0.3 0.3 0.9 1.2 
Variable lease cost (1)Cost of sales and General and administrative3.7 4.2 11.9 11.6 
Net lease cost$16.1 $13.0 $41.8 $38.6 

(1)    Includes short-term leases, which are immaterial.

Future maturities of lease liabilities were as follows:
Operating Leases (1)Finance Leases
(In millions)
Three months ended December 31, 2022$11.3 $0.2 
202344.2 0.5 
202438.8 0.4 
202535.6 0.2 
202634.8 — 
Thereafter59.6 — 
Total lease payments224.3 1.3 
Less: Interest(27.6)— 
Present value of lease liabilities$196.7 $1.3 

(1)     Operating lease payments include $2.8 million related to options to extend lease terms that are reasonably certain of being exercised.

Other information related to leases were as follows:
Nine Months EndedNine Months Ended
September 30, 2022September 30, 2021
(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$27.8 $27.6 
Financing cash flows from finance leases1.0 1.3