Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Leases and Property and Equipment

Leases

The components of lease cost were (in millions):

	Year Ended December 31,
	2021		2020
Operating lease cost	$	279.6	$	303.6
Variable lease cost	25.7		28.5
Short-term lease cost	2.7		4.3
Sublease income	(3.8)		(0.9)
	$	304.2	$	335.5
Finance lease cost:
Depreciation of ROU assets	$	52.6	$	50.2
Interest	4.9		5.3
	$	57.5	$	55.5
Total lease cost	$	361.7	$	391.0

The maturities of our lease liabilities at December 31, 2021 were (in millions):

	Operating Leases		Finance Leases
2022	$	259.0	$	51.0
2023	198.5		38.7
2024	170.5		27.2
2025	135.2		16.1
2026	113.3		3.7
Thereafter	600.2		2.2
Total lease payments	1,476.7		138.9
Less: Imputed interest	299.5		5.5
Present value of lease liability	$	1,177.2	$	133.4

The balance sheet classification of our operating leases was (in millions):

	December 31,
	2021		2020
Operating lease ROU assets	$	1,202.9	$	1,223.4
Lease liability:
Other current liabilities	$	225.1	$	270.5
Long-term liability - operating leases	952.1		1,114.0
	$	1,177.2	$	1,384.5

Operating leases for office space and equipment at December 31, 2021 and 2020, had a weighted average remaining lease term of 7.5 and 7.9 years, respectively, and a weighted average discount rate of 3.2% and 3.7%, respectively.

Property and Equipment

Property and equipment at December 31 were (in millions):

	2021		2020
Property and equipment - owned	$	1,805.5	$	1,427.7
Equipment under finance leases	352.3		314.2
	2,157.8		1,741.9
Accumulated depreciation	(1,165.7)		(1,156.7)
	$	992.1	$	585.2

Finance leases at December 31, 2021 and 2020, had a weighted average remaining lease term of 3.1 years and 3.0 years, respectively, and a weighted average discount rate of 4.3% and 4.2%, respectively.