LEASES (Tables)

12 Months Ended

Dec. 31, 2022

LEASES [Abstract]

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

dollars in millions	Classification on the Balance Sheet	2022	2021
Assets
Operating lease ROU assets		$        665.4	$        771.1
Accumulated amortization		(92.8)	(79.7)
Operating leases, net	Operating lease right-of-use assets, net	572.6	691.4
Finance lease assets		93.2	129.2
Accumulated depreciation		(14.9)	(8.8)
Finance leases, net	Property, plant & equipment, net	78.3	120.4
Total lease assets		$        650.9	$        811.8
Liabilities
Current
Operating	Other current liabilities	$          48.1	$          49.2
Finance	Other current liabilities	22.3	35.4
Noncurrent
Operating	Noncurrent operating lease liabilities	548.4	642.5
Finance	Other noncurrent liabilities	34.8	60.5
Total lease liabilities		$        653.6	$        787.6
Lease Term and Discount Rate
Weighted-average remaining lease term (years)
Operating leases		19.7	21.0
Finance leases		3.0	3.3
Weighted-average discount rate
Operating leases		3.9%	3.8%
Finance leases		1.8%	1.3%

Components of Lease Expense

in millions	2022	2021	2020
Lease Cost
Finance lease cost
Depreciation of right-of-use assets	$          16.5	$            7.1	$            1.6
Interest on lease liabilities	1.2	0.6	(0.1)
Operating lease cost	85.6	71.0	58.5
Short-term lease cost 1	46.4	27.3	30.5
Variable lease cost	14.4	10.6	12.9
Sublease income	(2.9)	(3.1)	(2.7)
Total lease cost	$        161.2	$        113.5	$        100.7

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).

Maturity Analysis on an Undiscounted Basis

	Operating	Finance
in millions	Leases	Leases
Maturity of Lease Liabilities
2023	$          70.0	$          23.2
2024	65.3	17.3
2025	60.9	11.8
2026	54.7	5.9
2027	50.5	0.6
Thereafter	658.3	0.0
Total minimum lease payments	$        959.7	$          58.8
Less: Lease payments representing interest	363.2	1.7
Present value of future minimum lease payments	$        596.5	$          57.1
Less: Current obligations under leases	48.1	22.3
Long-term lease obligations	$        548.4	$          34.8