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Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Components of Lease Expense

The components of lease expense are as follows (in millions):

 

 

 

Statement of Earnings

 

Year ended

 

Lease Components

 

Classification

 

December 31, 2020

 

Operating lease expense

 

Operating expense

 

$

126.5

 

Variable lease expense

 

Operating expense

 

 

22.0

 

Sublease income

 

Investment income

 

 

(1.1

)

   Total net lease expense

 

 

 

$

147.4

 

Summary of Supplemental Cash Flow Information Related to Leases

 

 

 

Year ended

 

Supplemental Cash Flow Information Related to Leases (in millions)

 

December 31, 2020

 

Cash paid for amounts included in the measurement of

   lease liabilities:

 

 

 

 

Operating cash flows from operating leases

 

$

120.1

 

Right-of-use assets obtained in exchange for new

   operating lease liabilities

 

$

71.2

 

 

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows (in millions, except lease term and discount rate):

 

Lease Components

 

Balance Sheet Classification

 

December 31, 2020

 

Lease right-of-use assets

 

Right-of-use assets

 

$

373.9

 

Other current lease liabilities

 

Accrued compensation and other current liabilities

 

 

88.8

 

Lease liabilities

 

Lease liabilities - noncurrent

 

 

320.9

 

Total lease liabilities

 

 

 

$

409.7

 

Weighted-average remaining lease term, years

 

 

 

 

5.3

 

Weighted-average discount rate

 

 

 

 

3.6

%

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities for each of the next five years and thereafter are as follows (in millions):

 

2021

 

$

108.5

 

2022

 

 

93.9

 

2023

 

 

75.1

 

2024

 

 

54.8

 

2025

 

 

41.6

 

Thereafter

 

 

77.8

 

Total lease payments

 

 

451.7

 

Less interest

 

 

(42.0

)

Total

 

$

409.7