Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease Terms and Discount Rates

The following table presents lease terms and discount rates:

	As of December 31,
	2023			2022
Weighted-average remaining lease term (in years):
Finance leases		38.8			29.0
Operating leases		8.9			7.0
Weighted-average discount rate:
Finance leases		5.31	%		3.51	%
Operating leases		4.35	%		3.95	%

Schedule of Lease Assets and Lease Liabilities

The following table summarizes the classification of lease assets and lease liabilities on our Consolidated Balance Sheets (in millions of dollars):

		As of December 31,
Description	Classification	2023		2022
Operating lease assets	Operating lease assets	$	32.6	$	39.1
Finance lease assets	Property, plant and equipment, net	$	14.3	$	6.7
Current operating lease liabilities	Other accrued liabilities	$	8.0	$	9.1
Non-current operating lease liabilities	Long-term portion of operating lease liabilities	$	29.2	$	35.4
Total operating lease liabilities		$	37.2	$	44.5
Current finance lease liabilities	Other accrued liabilities	$	2.1	$	2.1
Non-current finance lease liabilities	Long-term liabilities	$	12.9	$	5.0
Total finance lease liabilities		$	15.0	$	7.1

Components of Lease Cost

The following table summarizes the components of lease cost in our Statements of Consolidated Income (Loss) (in millions of dollars):

	Year Ended December 31,
	2023		2022		2021
Operating lease cost	$	11.6	$	12.1	$	11.0
Short-term lease cost		4.3		4.3		3.2
Finance lease cost:
Amortization of leased assets		2.4		2.5		2.1
Interest on lease liabilities		0.7		0.3		0.3
Total lease cost	$	19.0	$	19.2	$	16.6

Schedule of Maturity of Our Lease Liabilities

The following table presents the maturity of our lease liabilities as of December 31, 2023 (in millions of dollars):

	Finance Leases			Operating Leases
2024	$	2.9		$	9.4
2025		2.2			6.8
2026		1.7			4.4
2027		0.8			3.7
2028		0.6			3.4
Thereafter		26.9			19.2
Total minimum lease payments	$	35.1		$	46.9
Less: interest		(20.1	)		(9.7	)
Present value	$	15.0		$	37.2