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Leases
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Leases

(14) Leases

 

The components of lease expense were as follows:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Operating lease expense

 

$

35.6

 

 

$

32.1

 

 

$

106.9

 

 

$

96.1

 

Short-term lease expense

 

 

1.1

 

 

 

1.7

 

 

 

3.7

 

 

 

4.3

 

Other lease expense(a)

 

 

2.5

 

 

 

1.3

 

 

 

10.4

 

 

 

10.3

 

Total lease expense

 

$

39.2

 

 

$

35.1

 

 

$

121.0

 

 

$

110.7

 

(a)
Other lease expense includes variable lease expense and sublease income.

 

Other information related to leases was as follows:

 

 

Nine Months Ended September 30,

 

Supplemental Cash Flow Information

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

102.6

 

 

$

93.4

 

Operating ROU assets obtained in exchange for lease obligations

 

 

107.2

 

 

 

37.5

 

 

 

 

September 30,

 

 

December 31,

 

Supplemental Balance Sheet Information

 

2023

 

 

2022

 

Operating Leases

 

 

 

 

 

 

Operating lease ROU assets

 

$

400.1

 

 

$

365.7

 

 

 

 

 

 

 

Operating lease liabilities - current(a)

 

$

102.0

 

 

$

105.5

 

Operating lease liabilities - long-term

 

 

306.2

 

 

 

266.6

 

Total operating lease liabilities

 

$

408.2

 

 

$

372.1

 

(a)
Operating lease liabilities - current are included in accrued expenses on our Consolidated Balance Sheets.

 

 

 

September 30,

 

 

 

2023

 

 

2022

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

Operating leases

 

5.5 years

 

 

5.0 years

 

Weighted Average Discount Rate

 

 

 

 

 

 

Operating leases

 

 

3.6

%

 

 

2.4

%

 

Maturities of operating lease liabilities as of September 30, 2023 were as follows:

 

Period Ending September 30, 2023

 

Operating Leases

 

 2023

 

$

30.1

 

 2024

 

 

107.3

 

 2025

 

 

80.6

 

 2026

 

 

61.8

 

 2027

 

 

51.4

 

 2028

 

 

41.6

 

Thereafter

 

 

87.1

 

Total future undiscounted lease payments

 

 

459.9

 

   Less imputed interest

 

 

(51.7

)

Total operating lease liabilities

 

$

408.2