Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Summary of Lease Information

A summary of the Company’s lease information is as follows:

		December 31,			December 31,
	Classification	2022			2021
Assets
Right of use assets	Other Assets	$	162.6		$	159.4
Liabilities
Current lease liabilities	Accounts Payable and Accrued Expenses	$	21.9		$	24.4
Long-term lease liabilities	Deferred and Other Long-term Liabilities		151.9			146.6
Total lease liabilities		$	173.8		$	171.0
Other information
Weighted-average remaining lease term (years)			8.9			9.1
Weighted-average discount rate			4.4	%		4.3	%

	Twelve Months		Twelve Months		Twelve Months
	Ended		Ended		Ended
	December 31, 2022		December 31, 2021		December 31, 2020
Statement of Income
Lease cost(1)	$	31.0	$	32.7	$	27.7
	Twelve Months		Twelve Months
	Ended		Ended
	December 31, 2022		December 31, 2021
Other information
Leased assets obtained in exchange for new lease liabilities(2)	$	27.9	$	3.5
Cash paid for amounts included in the measurement of lease liabilities	$	31.4	$	32.6

(1)Lease expense is included in cost of sales or SG&A expenses based on the nature of the leased item. Short-term lease expense is excluded from this amount and is not material. The Company also has certain variable leases which are not material. The noncash component of lease expense for the twelve months ended December 31, 2022, 2021 and 2020 was $24.0, $25.4 and $20.1, respectively, is included in the amortization caption in the consolidated statement of cash flows.

Leased assets obtained in exchange for new lease liabilities in 2022 primarily consisted of a contract amendment to one of the Company's international locations, which resulted in an increase to the Company’s right of use assets and corresponding lease liabilities of approximately $8.2 recorded in the third quarter of 2022, and an amendment to its contract at one of its leased manufacturing facilities, which resulted in an increase to the Company’s right of use assets and corresponding lease liabilities of approximately $15.2 recorded in the second quarter of 2022. Leased assets obtained in exchange for new lease liabilities in 2021 primarily consisted of equipment lease additions, partially offset by lease modification terminations.

Summary of Minimum Annual Rentals Including Reasonably Assured Renewal Options under Lease Agreements

The Company’s minimum annual rentals including reasonably assured renewal options under lease agreements are as follows:

	Operating
	Leases
2023	$	29.0
2024		27.6
2025		26.4
2026		18.9
2027		18.1
2028 and thereafter		94.8
Total future minimum lease commitments		214.8
Less: Imputed interest		(41.0	)
Present value of lease liabilities	$	173.8