Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Leases

The Company has operating leases for corporate offices, data centers, vehicles and certain equipment. The operating leases have remaining lease terms of 1 year to 12 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year.

The following table summarizes information about the Company’s operating leases for the years ended December 31 (in millions):

	2021		2020
Operating lease cost	$	11.2	$	13.2
Variable lease cost	0.1		0.1
Sublease income	(0.5)		$	(0.2)
Total operating lease expense	$	10.8	$	13.1
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	11.1	$	11.9
ROU asset obtained in exchange for new operating lease liabilities	3.0		74.9

In determining the incremental borrowing rate, the Company considered the interest rate yield for the specific interest rate environment and the Company’s credit spread at the inception of the lease. For the years ended December 31, 2021 and 2020, the weighted average remaining lease term was 11.3 years and 10.0 years, respectively, and the weighted average discount rate was 3.35% and 3.35%, respectively.

Maturities of operating lease liabilities were as follows (in millions):

	Operating Leases
Year Ending December 31,
2022	$	6.2
2023	8.6
2024	8.0
2025	7.7
2026	7.6
Thereafter	56.4
Total lease payments	94.5
Less imputed interest	(16.9)
Total	$	77.6