Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Summary of Components of Lease Cost

The components of lease cost are as follows:

years ended December 31 (in millions)	2022		2021		2020
Operating lease cost	$	73.1	$	72.9	$	79.0
Finance lease cost:
Amortization of right-of-use assets		18.3		14.3		3.6
Interest on lease liabilities		4.4		3.5		0.6
Variable lease cost		16.5		17.9		16.9
Short-term lease cost		45.2		32.3		31.3
Total lease cost	$	157.5	$	140.9	$	131.4

Summary of Balance Sheet Classifications of Operating and Finance Leases

The balance sheet classifications of operating and finance leases are as follows:

December 31 (in millions)	2022			2021
Operating leases:
Operating lease right-of-use assets	$	383.5		$	426.7
Current operating lease liabilities	$	52.1		$	53.9
Noncurrent operating lease liabilities		335.9			379.4
Total operating lease liabilities	$	388.0		$	433.3
Finance leases:
Property, plant and equipment	$	236.9		$	225.9
Accumulated depreciation		(39.4	)		(21.2	)
Property, plant and equipment, net	$	197.5		$	204.7
Other current liabilities	$	17.8		$	13.3
Other noncurrent liabilities		182.1			191.1
Total finance lease liabilities	$	199.9		$	204.4

Summary of Weighted-average Remaining Lease Terms and Discount Rates

Weighted-average remaining lease terms and discount rates are as follows:

December 31	2022	2021
Weighted-average remaining lease terms (years):
Operating leases	12.2	12.6
Finance leases	19.1	19.5
Weighted-average discount rates:
Operating leases	4.0%	3.9%
Finance leases	2.3%	2.3%

Summary of Future Lease Payments

Future lease payments as of December 31, 2022 are as follows:

	Operating			Finance
(in millions)	Leases			Leases
2023	$	72.8		$	20.3
2024		56.0			20.1
2025		49.0			18.1
2026		40.4			11.5
2027		33.7			10.7
Thereafter		264.8			176.4
Total lease payments		516.7			257.1
Less: imputed interest		(120.9	)		(56.4	)
Present value of lease payments		395.8			200.7
Less: leases classified as held for sale		(7.8	)		(0.8	)
Less: current lease obligations		(52.1	)		(17.8	)
Total long-term lease obligations	$	335.9		$	182.1