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Lease Accounting (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Quantitative Information Regarding Lease Cost

Quantitative information regarding the Company’s leases is as follows:

 

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

Lease cost(1):

 

 

 

 

 

 

Operating lease cost

 

 

13.9

 

 

 

16.1

 

Short-term lease cost

 

 

0.3

 

 

 

0.4

 

Total lease cost

 

$

14.2

 

 

$

16.5

 

 

(1)
Finance lease costs and variable lease costs are immaterial to the Company. The Company does not have lease or sub-lease income.
Quantitative Information Regarding Maturities of Lease Liabilities

Maturities of Lease Liabilities

 

Operating
Leases

 

 

Finance
Leases

 

2023

 

$

13.7

 

 

$

0.0

 

2024

 

 

9.9

 

 

 

0.0

 

2025

 

 

7.2

 

 

 

0.0

 

2026

 

 

5.0

 

 

 

0.0

 

2027

 

 

2.7

 

 

 

0.0

 

After 2027

 

 

9.2

 

 

 

 

Total lease payments

 

 

47.7

 

 

 

0.3

 

Less interest

 

 

(4.7

)

 

 

 

Present value of lease liabilities

 

$

43.0

 

 

$

0.3

 

 

Quantitative Information Regarding Other Information

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

Other Information:

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

16.3

 

 

$

16.4

 

Investing cash flows from finance leases

 

$

2.0

 

 

$

 

Weighted average remaining lease term - finance leases (in years)

 

 

4.92

 

 

 

1.29

 

Weighted average remaining lease term - operating leases (in years)

 

 

5.15

 

 

 

5.03

 

Average discount rate - finance leases

 

 

4.83

%

 

 

5.07

%

Average discount rate - operating leases

 

 

3.64

%

 

 

3.52

%