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Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lessor, Operating Leases LeasesSeveral of the Company's subsidiaries maintain their offices in leased premises. A number of these leases provide for the payment of real estate taxes, insurance, and other operating expenses. In addition, many of the subsidiaries
also lease equipment for use in their businesses. Substantially all of the Company's leases are classified as operating leases.

Effective January 1, 2019, the Company adopted new lease accounting guidance issued by the FASB which requires the balance sheet recognition of all leases with a term greater than 12 months. The Company’s adoption of this standard resulted in the establishment of a right of use asset ($226.9) and corresponding lease liability ($241.4) equal to the present value of future lease payments, reflected within sundry assets and liabilities in the consolidated balance sheets. Furthermore, the Company recognized $18.4, net of tax, in previously deferred gains associated with sale leaseback transactions as an adjustment to beginning retained earnings.

The Company has made certain elections available under the guidance, primarily regarding lease classification and the treatment of certain lease executory costs resulting in an immaterial effect on the Company’s consolidated financial statements. In determining the lease liability, the Company estimated the discount rate (weighted average 5.03%) for each lease based upon the type of underlying asset and remaining term (weighted average 7.1 years). Total lease costs were $75.6, $73.9 and $73.0 in 2021, 2020 and 2019, respectively. Fixed lease payments for 2021, 2020 and 2019 were $65.0, $64.0 and $64.9, respectively.

The following table presents a summary of future undiscounted lease payments as of the dates shown:
Lease
Year 1Year 2Year 3Year 4Year 5ThereafterTotalDiscountLiability
December 31, 2021$61.6 $52.8 $43.2 $35.6 $23.4 $91.7 $308.5 $72.0 $236.5 
December 31, 2020$61.3 $54.0 $43.7 $34.0 $27.1 $96.4 $316.8 $69.3 $247.6