LEASES (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

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

Lease right-of-use (ROU) assets and liabilities and the weighted-average lease terms and discount rates are as follows:

in millions	Classification on the Balance Sheet	March 31 2024			December 31 2023			March 31 2023
Assets
Operating lease ROU assets		$	641.8		$	636.1		$	669.6
Accumulated amortization		(129.4)			(124.4)			(100.1)
Operating leases, net	Operating lease right-of-use assets, net	512.4			511.7			569.5
Finance lease ROU assets		60.4			62.3			91.6
Accumulated depreciation		(21.5)			(20.2)			(16.6)
Finance leases, net	Property, plant & equipment, net	38.9			42.1			75.0
Total lease assets		$	551.3		$	553.8		$	644.5
Liabilities
Current
Operating	Other current liabilities	$	47.3		$	47.3		$	48.6
Finance	Other current liabilities	11.7			12.5			21.3
Noncurrent
Operating	Noncurrent operating lease liabilities	508.2			507.4			545.9
Finance	Other noncurrent liabilities	14.6			16.6			30.5
Total lease liabilities		$	581.8		$	583.8		$	646.3
Lease Term and Discount Rate
Weighted-average remaining lease term (years)
Operating leases		19.4			19.5			19.6
Finance leases		2.5			2.5			2.8
Weighted-average discount rate
Operating leases		4.4		%	4.3		%	4.0		%
Finance leases		2.6		%	2.4		%	1.9		%

Components of Lease Expense

The components of lease expense are as follows:

	Three Months Ended March 31
in millions	2024		2023
Finance lease cost
Depreciation of right-of-use assets	$	2.5	$	3.4
Interest on lease liabilities	0.2		0.2
Operating lease cost	18.8		19.4
Short-term lease cost 1	11.1		11.7
Variable lease cost	5.3		5.1
Sublease income	(0.8)		(0.8)
Total lease expense	$	37.1	$	39.0

1Includes the cost of leases with an initial term of one year or less (including those with terms of one month or less).