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Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Description of Operating Lease
The following table presents supplemental operating lease information for operating leases that have commenced.
Six Months Ended
June 30,
(in millions, except weighted average data)20242023
Operating lease cost$18.6 $8.2 
Sublease income(0.8)— 
Net operating lease cost$17.8 $8.2 
Cash paid for amounts included in the measurement of operating lease liabilities$15.0 $8.8 
June 30,
2024
June 30,
2023
Weighted average remaining lease term
10.5 years7.4 years
Weighted average discount rate5.0 %5.4 %
Restricted cash related to letters of credit issued in lieu of cash security deposits$7.8 $7.8 
Schedule of Operating Lease Liability Maturity
The following table presents approximate future non-cancelable minimum lease payments under operating leases and sublease income as of June 30, 2024.
(in millions)
Operating
Leases (1)
Sublease
Income
2024 (6 months remaining)
$18.0 $(1.0)
2025
35.4 (2.7)
2026
34.9 (2.7)
2027
35.8 (2.7)
2028
36.6 (2.7)
Thereafter220.3 (7.0)
Total operating lease payments (sublease income)381.0 $(18.8)
Less accreted interest89.4 
Total operating lease liabilities291.6 
Less current operating lease liabilities included in other current liabilities35.4 
Noncurrent operating lease liabilities$256.2 
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(1) Amounts presented in the table above exclude $5.6 million for 2025, $22.6 million for 2026, $23.3 million for 2027, $24.0 million for 2028 and $214.4 million thereafter of approximate non-cancelable future minimum lease payments under an operating lease related to our new campus facility that has not yet commenced.