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Leases
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases, finance
23.    Leases
The following table presents lease assets and liabilities and their balance sheet classification:
(in millions)
Classification
December 31,
20222021
Operating leases:
Lease assetsOther assets$118.7 $107.8 
Current portion of liabilitiesOther current liabilities35.6 34.1 
Liabilities, net of current portionOther liabilities86.6 78.6 
Finance leases:
Lease assetsProperty, plant and equipment, net55.3 59.9 
Current portion of liabilitiesCurrent portion of debt4.3 4.2 
Liabilities, net of current portionDebt, net of current portion64.7 67.0 
The following tables present information about lease expense:
(in millions)
Year ended December 31,
202220212020
(1,2)(1,2)(1,2)
Operating lease expense$48.5 $48.2 $52.0 
Finance lease expense10.7 11.1 11.3 
Total$59.2 $59.3 $63.3 
(1)Operating lease expense for 2022 and 2021 includes $7.9 million and $7.3 million, respectively, classified as cost of sales and $40.6 million and $40.9 million classified as SG&A expenses, respectively.
(2)Finance lease expense consists primarily of amortization of finance lease assets that is classified as SG&A expenses.
December 31,
20222021
Weighted average remaining lease term:
Operating leases6.3 years5.0 years
Finance leases12.7 years13.5 years
Weighted average discount rate:
Operating leases3.9 %4.4 %
Finance leases7.8 %7.9 %
The following table presents future payments due under leases reconciled to lease liabilities:
(in millions)
December 31, 2022
Operating leasesFinance leases
2023$39.1 $9.3 
202431.9 9.2 
202519.5 8.5 
202612.5 7.8 
20276.5 7.8 
Thereafter26.6 73.3 
Total undiscounted lease payments136.1 115.9 
Difference between undiscounted and discounted lease payments(13.9)(46.9)
Lease liabilities$122.2 $69.0 
Leases, operating
23.    Leases
The following table presents lease assets and liabilities and their balance sheet classification:
(in millions)
Classification
December 31,
20222021
Operating leases:
Lease assetsOther assets$118.7 $107.8 
Current portion of liabilitiesOther current liabilities35.6 34.1 
Liabilities, net of current portionOther liabilities86.6 78.6 
Finance leases:
Lease assetsProperty, plant and equipment, net55.3 59.9 
Current portion of liabilitiesCurrent portion of debt4.3 4.2 
Liabilities, net of current portionDebt, net of current portion64.7 67.0 
The following tables present information about lease expense:
(in millions)
Year ended December 31,
202220212020
(1,2)(1,2)(1,2)
Operating lease expense$48.5 $48.2 $52.0 
Finance lease expense10.7 11.1 11.3 
Total$59.2 $59.3 $63.3 
(1)Operating lease expense for 2022 and 2021 includes $7.9 million and $7.3 million, respectively, classified as cost of sales and $40.6 million and $40.9 million classified as SG&A expenses, respectively.
(2)Finance lease expense consists primarily of amortization of finance lease assets that is classified as SG&A expenses.
December 31,
20222021
Weighted average remaining lease term:
Operating leases6.3 years5.0 years
Finance leases12.7 years13.5 years
Weighted average discount rate:
Operating leases3.9 %4.4 %
Finance leases7.8 %7.9 %
The following table presents future payments due under leases reconciled to lease liabilities:
(in millions)
December 31, 2022
Operating leasesFinance leases
2023$39.1 $9.3 
202431.9 9.2 
202519.5 8.5 
202612.5 7.8 
20276.5 7.8 
Thereafter26.6 73.3 
Total undiscounted lease payments136.1 115.9 
Difference between undiscounted and discounted lease payments(13.9)(46.9)
Lease liabilities$122.2 $69.0