Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Right-of-Use Assets and Lease Obligations

Operating lease assets and obligations included in the accompanying consolidated balance sheet are shown below (in millions):

December 31,	2022		2021
Right-of-use assets under operating leases:
Other long-term assets	$	701.8	$	627.9
Lease obligations under operating leases:
Accrued liabilities	$	136.8	$	125.6
Other long-term liabilities	595.1		523.6
	$	731.9	$	649.2

Maturity of Lease Obligations

Maturities of lease obligations as of December 31, 2022, are shown below (in millions):

2023	$	159.7
2024	140.3
2025	119.5
2026	101.1
2027	83.2
Thereafter	215.9
Total undiscounted cash flows	819.7
Less: Imputed interest	(87.8)
Lease obligations under operating leases	$	731.9

Cash Flow Information, Lease Expense, Weighted Average Lease Term and Discount Rate

Cash flow information related to operating leases is shown below (in millions):

For the year ended December 31,	2022		2021		2020
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	236.1	$	258.4	$	135.1
Operating cash flows:
Cash paid related to operating lease obligations	$	164.3	$	164.2	$	143.8

Lease expense included in the accompanying consolidated statement of income is shown below (in millions):

For the year ended December 31,	2022		2021		2020
Operating lease expense	$	164.5	$	160.3	$	148.6
Short-term lease expense	22.1		19.4		15.4
Variable lease expense	8.4		7.9		8.0
Total lease expense	$	195.0	$	187.6	$	172.0

The weighted average lease term and discount rate for operating leases as of December 31, 2022, are shown below:

Weighted average remaining lease term	Seven years
Weighted average discount rate	3.5	%