LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease, cost

The following table is a summary of the Company’s components of net lease cost for the years ended December 31, 2021 and 2020:

	Year Ended December 31,
(In millions)	2021		2020
Operating lease costs including variable costs	$	175.9	$	195.6
Short-term lease costs	5.2		11.0
Less: sublease income	2.4		2.8
Net lease cost	$	178.7	$	203.8

Schedule of supplemental cash flow information related to leases

Supplemental cash flow information related to leases for the years ended December 31, 2021 and 2020 is as follows:

	Year Ended December 31,
(In millions)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	176.5	$	206.5
Right-of-use assets obtained in exchange for lease liabilities
Operating leases	$	114.9	$	421.3
Finance leases	$	24.6	$	26.9

Schedule of supplemental balance sheet information related to leases

Supplemental balance sheet information related to leases as of December 31, 2021 and 2020 is as follows:

	December 31,
(In millions, except lease term and discount rate)	2021		2020
Weighted average remaining lease term
Operating leases	13.3 years		13.6 years
Finance leases	1.1 years		0.6 years
Weighted average discount rate
Operating leases	5.86	%	5.35	%
Finance leases	1.2	%	2.1	%

Schedule of maturities of operating and finance leases liabilities

Maturities of operating and finance lease liabilities as of December 31, 2021 are as follows:

(In millions)	Maturity of Operating Lease Liabilities		Maturity of Finance Lease Liabilities
2022	$	150.2	$	1.0
2023	108.3		103.0
2024	102.3		—
2025	83.1		—
2026	74.7		—
Thereafter	675.9		—
Total lease payments	1,194.5		104.0
Less: Imputed interest (a)	421.5		52.2
Total lease liabilities (b)	$	773.0	$	51.8

Note: For leases that commenced prior to 2019, minimum lease payments exclude payments to landlords for real estate taxes and common area maintenance.

(a)Calculated using the interest rate for each lease.

(b)Includes the current portion of $126.9 million.