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Leases (Tables)

12 Months Ended

Dec. 31, 2023

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


		December Year to Date
Description	Statements of Earnings Location	2023		2022		2021
Operating:
Operating lease cost	Selling, general and administrative expenses	$	21.0	$	22.8	$	25.8
Short-term lease cost	Selling, general and administrative expenses	2.0		2.4		2.6
Variable lease cost	Selling, general and administrative expenses	6.1		5.2		5.7
Financing:
Amortization of ROU assets	Selling, general and administrative expenses	0.6		0.6		1.4
Interest on lease liabilities	Other income (expense), net	—		0.1		0.2
Total lease cost		$	29.7	$	31.1	$	35.7

Supplemental consolidated balance sheet information related to leases is as follows (in millions of dollars):


Description	Balance Sheet Location	As of Year-End 2023			As of Year-End 2022
ROU Assets:
Operating	Operating lease right-of-use assets	$	61.3	(1)	$	66.8
Financing	Net property and equipment	0.3			1.3
Total lease assets		$	61.6		$	68.1

ROU Liabilities:
Operating - current	Operating lease liabilities, current	$	14.0	(1)	$	14.7
Financing - current	Accounts payable and accrued liabilities	—			1.2
Operating - noncurrent	Operating lease liabilities, noncurrent	51.9		(1)	55.0
Financing - noncurrent	Other long-term liabilities	—			—
Total lease liabilities		$	65.9		$	70.9

(1)ROU operating assets and liabilities, current and non-current, include held for sale leases (see Held for Sale footnote).

Weighted average remaining lease terms and discount rates are as follows:


	December Year to Date
	2023		2022
Weighted average remaining lease term (years):
Operating leases	7.3		7.9
Financing leases	0		1.3
Weighted average discount rate:
Operating leases	5.4	%	5.1	%
Financing leases	N/A		5.4	%

Other information related to leases is as follows (in millions of dollars):


	December Year to Date
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	20.6	$	22.4	$	26.1
Financing cash flows from financing leases	1.2		1.4		1.5

ROU assets obtained in exchange for new lease obligations:
Operating leases	$	12.6	$	10.7	$	14.9
Financing leases	—		—		—

Maturities of lease liabilities as of year-end 2023 are as follows (in millions of dollars):

(2)Maturities of lease liabilities includes future lease payments for held for sale leases (see Held for Sale footnote).

Maturities of lease liabilities as of year-end 2023 are as follows (in millions of dollars):

(2)Maturities of lease liabilities includes future lease payments for held for sale leases (see Held for Sale footnote).