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RENTALS AND LEASES (Tables)
12 Months Ended
Dec. 31, 2022
RENTALS AND LEASES  
Schedule of operating lease cost

(millions)

2022

2021

2020

Operating lease cost*

$196.9

$179.4

$183.8

*Includes immaterial short-term and variable lease costs

Schedule of future maturity of operating lease liabilities

(millions)

2023

 

$124

2024

 

98

2025

 

75

2026

 

53

2027

32

Thereafter

 

121

Total lease payments

503

Less: imputed interest

57

Present value of lease liabilities

$446

Schedule of operating leases term and discount rate

December 31

December 31

December 31

2022

2021

2020

Weighted-average remaining lease terms (years)

6.71

5.99

5.52

Weighted-average discount rate

2.98%

3.07%

3.72%

Schedule of other lease information

December 31

December 31

December 31

(millions)

2022

2021

2020

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases

$157.3

$157.0

$164.2

Leased assets obtained in exchange for new operating lease liabilities

202.7

116.8

60.4

Schedule of operating lease revenue

(millions)

2022

2021

2020

Operating lease revenue*

$466.7

$412.5

$356.3

Schedule of revenue from operating leases for existing contracts

Future revenue from operating leases for existing contracts as of December 31, 2022 were as follows:

(millions)

2023

 

$370

2024

 

269

2025

 

207

2026

 

140

2027

71

Thereafter

 

41

Total lease revenue

$1,098