Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Asset and Lease Liability

The ROU asset and lease liability balances as of December 31, 2023 and 2022 were as follows:

(in Millions)	Classification	December 31, 2023		December 31, 2022
Assets
Operating lease ROU assets	Other assets including long-term receivables, net	$	121.8	$	123.8
Liabilities
Operating lease current liabilities	Accrued and other liabilities	$	24.4	$	22.0
Operating lease noncurrent liabilities	Other long-term liabilities	123.2		128.6

Components of Lease Expense, Lease Term and Discount Rate

The components of lease expense for the year ended December 31, 2023, 2022, and 2021 were as follows:

(in Millions)	Lease Cost Classification	2023		2022		2021
Lease Cost
Operating lease cost	Costs of sales and services / Selling, general and administrative expenses	$	33.2	$	32.9	$	33.9
Variable lease cost	Costs of sales and services / Selling, general and administrative expenses	13.3		6.3		4.7
Total lease cost		$	46.5	$	39.2	$	38.6

	December 31, 2023
Operating Lease Term and Discount Rate
Weighted-average remaining lease term (years)	7.3
Weighted-average discount rate	4.4	%

(in Millions)	Year ended December 31, 2023		Year ended December 31, 2022
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(35.9)	$	(33.9)
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	21.4	$	20.1

Summary of Future Minimum Lease Payments

The following table represents our future minimum operating lease payments as of, and subsequent to, December 31, 2023 under ASC 842:

(in Millions)	Operating Leases Total
Maturity of Lease Liabilities
2024	$	29.9
2025	25.8
2026	22.5
2027	20.8
2028	17.7
Thereafter	57.1
Total undiscounted lease payments	$	173.8
Less: Present value adjustment	(26.2)
Present value of lease liabilities	$	147.6