Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

6. Leases

We have operating and finance leases for buildings and certain machinery and equipment. Operating leases are included in operating lease assets, other current liabilities, and operating lease liabilities in our consolidated balance sheets. Amounts recognized for finance leases as of and for the years ended December 31, 2021 and 2020 were immaterial.

Operating lease expense recognized in the consolidated statement of comprehensive income for the years ended December 31, 2021, 2020 and 2019 and were $60.3 million, $53.9 million and $51.0 million, respectively, including approximately $11.2 million, $9.3 million and $8.2 million of short-term and variable lease costs for the years ended December 31, 2021, 2020 and 2019, respectively.

Other information related to leases was as follows:

(In millions, except lease term and discount rate)	December 31, 2021			December 31, 2020			December 31, 2019
Cash paid for amounts included in the measurement of    lease liabilities:
Operating cash flows from operating leases	$	48.0		$	43.5		$	41.3
Right-of-use assets obtained in exchange for operating    lease obligations	$	69.7		$	40.5		$	24.5
Weighted average remaining lease term - operating leases	6.1 years			6.4 years			7.1 years
Weighted average discount rate - operating leases		3.3	%		3.8	%		4.2	%

Total lease payments under non-cancellable operating leases as of December 31, 2021 were as follows:

(In millions)
Year Ending December 31,
2022	$	48.2
2023		43.3
2024		34.0
2025		24.6
2026		20.4
Thereafter		55.2
Total lease payments		225.7
Less imputed interest		(24.2	)
Total	$	201.5
Reported as of December 31, 2021
Other current liabilities	$	42.7
Operating lease liabilities		158.8
Total	$	201.5