Leases (Notes)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

LEASES

The balance sheet locations of our lease assets and liabilities were as follows (in millions):

Assets	Balance Sheet Location	December 31, 2021		December 31, 2020
Operating	Operating lease assets	$	166.9	$	154.7
Finance	Other non-current assets	27.9		29.8
Total		$	194.8	$	184.5

Liabilities	Balance Sheet Location	December 31, 2021		December 31, 2020
Current
Operating	Other accrued liabilities	$	26.0	$	28.3
Finance	Current indebtedness	4.9		6.7
Non-Current
Operating	Other non-current liabilities	147.3		132.5
Finance	Long-term debt, less current portion	20.9		20.2
Total		$	199.1	$	187.7

The below table shows our lease assets and liabilities by reporting segment (in millions):

	Assets								Liabilities
	Operating				Financing				Operating				Financing
	December 31, 2021		December 31, 2020		December 31, 2021		December 31, 2020		December 31, 2021		December 31, 2020		December 31, 2021		December 31, 2020
CSCA	$	98.2	$	75.9	$	15.3	$	16.7	$	99.7	$	75.8	$	16.0	$	17.0
CSCI	30.7		34.4		7.9		5.9		31.8		35.2		5.0		2.5
Unallocated	38.0		44.4		4.7		7.2		41.8		49.8		4.8		7.4
Total	$	166.9	$	154.7	$	27.9	$	29.8	$	173.3	$	160.8	$	25.8	$	26.9

Lease expense was as follows (in millions):

	Year Ended
	December 31, 2021		December 31, 2020
Operating leases(1)	$	38.6	$	37.3
Finance leases
Amortization	$	5.9	$	4.4
Interest	0.8		0.8
Total finance leases	$	6.7	$	5.2

            (1) Includes short-term leases and variable lease costs, which are immaterial.

Total operating lease expense for the year ended December 31, 2019 was $37.9 million.

The annual future maturities of our leases as of December 31, 2021 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2022	$	29.9	$	5.6	$	35.5
2023	22.5		3.9		26.4
2024	19.4		2.4		21.8
2025	16.9		2.2		19.1
2026	15.3		2.1		17.4
After 2026	94.9		13.7		108.6
Total lease payments	198.9		29.9		228.8
Less: Interest	25.6		4.1		29.7
Present value of lease liabilities	$	173.3	$	25.8	$	199.1

`

Our weighted average lease terms and discount rates are as follows:

	December 31, 2021		December 31, 2020
Weighted-average remaining lease term (in years)
Operating leases	11.43		10.63
Finance leases	9.23		8.81
Weighted-average discount rate
Operating leases	2.63	%	3.02	%
Finance leases	2.79	%	3.08	%

Our lease cash flow classifications are as follows (in millions):

	Year Ended
	December 31, 2021		December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	33.5	$	34.4
Operating cash flows for finance leases	$	0.8	$	0.8
Financing cash flows for finance leases	$	5.3	$	4.1
Leased assets obtained in exchange for new finance lease liabilities	$	4.6	$	7.0
Leased assets obtained in exchange for new operating lease liabilities	$	48.8	$	84.5

Leases

LEASES

The balance sheet locations of our lease assets and liabilities were as follows (in millions):

Assets	Balance Sheet Location	December 31, 2021		December 31, 2020
Operating	Operating lease assets	$	166.9	$	154.7
Finance	Other non-current assets	27.9		29.8
Total		$	194.8	$	184.5

Liabilities	Balance Sheet Location	December 31, 2021		December 31, 2020
Current
Operating	Other accrued liabilities	$	26.0	$	28.3
Finance	Current indebtedness	4.9		6.7
Non-Current
Operating	Other non-current liabilities	147.3		132.5
Finance	Long-term debt, less current portion	20.9		20.2
Total		$	199.1	$	187.7

The below table shows our lease assets and liabilities by reporting segment (in millions):

	Assets								Liabilities
	Operating				Financing				Operating				Financing
	December 31, 2021		December 31, 2020		December 31, 2021		December 31, 2020		December 31, 2021		December 31, 2020		December 31, 2021		December 31, 2020
CSCA	$	98.2	$	75.9	$	15.3	$	16.7	$	99.7	$	75.8	$	16.0	$	17.0
CSCI	30.7		34.4		7.9		5.9		31.8		35.2		5.0		2.5
Unallocated	38.0		44.4		4.7		7.2		41.8		49.8		4.8		7.4
Total	$	166.9	$	154.7	$	27.9	$	29.8	$	173.3	$	160.8	$	25.8	$	26.9

Lease expense was as follows (in millions):

	Year Ended
	December 31, 2021		December 31, 2020
Operating leases(1)	$	38.6	$	37.3
Finance leases
Amortization	$	5.9	$	4.4
Interest	0.8		0.8
Total finance leases	$	6.7	$	5.2

            (1) Includes short-term leases and variable lease costs, which are immaterial.

Total operating lease expense for the year ended December 31, 2019 was $37.9 million.

The annual future maturities of our leases as of December 31, 2021 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2022	$	29.9	$	5.6	$	35.5
2023	22.5		3.9		26.4
2024	19.4		2.4		21.8
2025	16.9		2.2		19.1
2026	15.3		2.1		17.4
After 2026	94.9		13.7		108.6
Total lease payments	198.9		29.9		228.8
Less: Interest	25.6		4.1		29.7
Present value of lease liabilities	$	173.3	$	25.8	$	199.1

`

Our weighted average lease terms and discount rates are as follows:

	December 31, 2021		December 31, 2020
Weighted-average remaining lease term (in years)
Operating leases	11.43		10.63
Finance leases	9.23		8.81
Weighted-average discount rate
Operating leases	2.63	%	3.02	%
Finance leases	2.79	%	3.08	%

Our lease cash flow classifications are as follows (in millions):

	Year Ended
	December 31, 2021		December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	33.5	$	34.4
Operating cash flows for finance leases	$	0.8	$	0.8
Financing cash flows for finance leases	$	5.3	$	4.1
Leased assets obtained in exchange for new finance lease liabilities	$	4.6	$	7.0
Leased assets obtained in exchange for new operating lease liabilities	$	48.8	$	84.5