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LEASES (Tables)

9 Months Ended

Sep. 30, 2022

LEASES [Abstract]

Schedule of Lease Assets and Liabilities, Weighted-Average Lease Term and Discount Rate



		September 30			December 31			September 30
dollars in millions	Classification on the Balance Sheet	2022			2021			2021
Assets ¹
Operating lease ROU assets		$ 778.8			$ 771.1			$ 728.8
Accumulated amortization		(89.6)			(79.7)			(71.9)
Operating leases, net	Operating lease right-of-use assets, net	689.2			691.4			656.9
Finance lease assets		111.2			129.2			125.6
Accumulated depreciation		(12.6)			(8.8)			(5.0)
Finance leases, net	Property, plant & equipment, net	98.6			120.4			120.6
Total lease assets		$ 787.8			$ 811.8			$ 777.5
Liabilities ¹
Current
Operating	Other current liabilities	$ 51.9			$ 49.2			$ 48.7
Finance	Other current liabilities	27.7			35.4			38.4
Noncurrent
Operating	Noncurrent operating lease liabilities	643.3			642.5			622.3
Finance	Other noncurrent liabilities	45.9			60.5			63.2
Total lease liabilities		$ 768.8			$ 787.6			$ 772.6
Lease Term and Discount Rate
Weighted-average remaining lease term (years)
Operating leases		20.1			21.0			21.0
Finance leases		3.1			3.3			3.4
Weighted-average discount rate
Operating leases		3.7%			3.8%			3.9%
Finance leases		1.6%			1.3%			1.2%


¹	Includes lease assets and liabilities that are classified as held for sale as detailed in Note 16.

Components of Lease Expense



		Three Months Ended						Nine Months Ended
		September 30						September 30
in millions		2022			2021			2022			2021
Lease Cost
Finance lease cost
Depreciation of right-of-use assets		$ 4.2			$ 0.8			$ 12.9			$ 2.2
Interest on lease liabilities		0.2			0.2			0.9			0.2
Operating lease cost		21.7			18.4			65.6			49.2
Short-term lease cost ¹		12.3			7.7			32.8			17.9
Variable lease cost		4.7			2.2			8.9			7.7
Sublease income		(0.6)			(0.6)			(2.2)			(2.4)
Total lease cost		$ 42.5			$ 28.7			$ 118.9			$ 74.8


¹	Our short-term lease cost includes the cost of leases with an initial term of one year or less (including those with terms of one month or less).