Leases (Tables)

12 Months Ended

Dec. 31, 2021

For the years ended December 31, 2021, December 31, 2020 and December 31, 2019, lease expense (including immaterial short-term and variable lease costs) was as follows.


	For the years ended
	December 31, 2021		December 31, 2020		December 31, 2019
	(In millions)
Operating lease expense	$	73.2	$	71.4	$	71.0
Finance lease expense	10.4		11.5		12.1
Total lease expense	$	83.6	$	82.9	$	83.1

Supplemental Cash Flow Information

Supplemental cash flow information related to leases for the years ended December 31, 2021, December 31, 2020 and December 31, 2019 was as follows.


	For the years ended
	December 31, 2021		December 31, 2020		December 31, 2019
	(In millions)
Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows from operating leases	$	56.8	$	53.2	$	52.2
Operating cash flows from finance leases	$	4.5	$	7.6	$	3.8
Financing cash flows from finance leases	$	3.6	$	34.5	$	2.8
Supplemental non-cash information on right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	34.0	$	28.5	$	45.6
Finance leases	$	7.5	$	5.4	$	9.2

Supplemental Balance Sheet Information

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


		As of
		December 31, 2021		December 31, 2020
	Balance Sheet Classification	(In millions)
Operating Leases
Operating lease right-of-use assets	Other assets	$	119.1	$	136.2
Current operating lease liabilities	Accounts payable and other current liabilities	$	45.4	$	47.1
Non-current operating lease liabilities	Other liabilities	87.8		106.4
Total operating lease liabilities		$	133.2	$	153.5

Finance Leases
Finance lease right-of-use assets	Properties, net	$	61.5	$	60.5
Current finance lease liabilities	Current portion of long-term debt and short-term borrowings	$	4.6	$	4.1
Non-current finance lease liabilities	Long-term debt	62.6		59.9
Total finance lease liabilities		$	67.2	$	64.0

The weighted-average remaining lease term and discount rate as of December 31, 2021 are as follows:


	Weighted-Average Remaining Lease Term (Years)	Weighted-Average Discount Rate
Operating leases	4.1	3.5%
Finance leases	11.9	6.5%

Maturities of Finance Lease Liabilities

Based on foreign exchange rates as of December 31, 2021, maturities of lease liabilities were as follows:


	Operating Leases		Finance Leases
	(In millions)
2022	$	49.8	$	8.4
2023	37.0		8.1
2024	22.2		8.2
2025	14.7		7.8
2026	10.6		11.6
Thereafter	9.6		54.4
Total lease payments	$	143.9	$	98.5
Less: interest	(10.7)		(31.3)
Present value of lease liabilities	$	133.2	$	67.2

Maturities of Operating Lease Liabilities

Based on foreign exchange rates as of December 31, 2021, maturities of lease liabilities were as follows:


	Operating Leases		Finance Leases
	(In millions)
2022	$	49.8	$	8.4
2023	37.0		8.1
2024	22.2		8.2
2025	14.7		7.8
2026	10.6		11.6
Thereafter	9.6		54.4
Total lease payments	$	143.9	$	98.5
Less: interest	(10.7)		(31.3)
Present value of lease liabilities	$	133.2	$	67.2