LEASES (Notes)

12 Months Ended

Dec. 31, 2023

Leases of Lessee Disclosure [Text Block]

LEASES

The Company has operating and finance leases for patient service centers, laboratories and testing facilities, clinical facilities, general office spaces, vehicles, and office and laboratory equipment. Leases have remaining lease terms of less than a year to 15 years, some of which include options to extend the leases for up to 15 years.

The components of lease expense were as follows:


	For the Year Ended
	December 31, 2023		December 31, 2022
Operating lease cost	$	202.6	$	198.1

Finance lease cost:
Amortization of right-of-use assets	$	7.1	$	8.0
Interest on lease liabilities	4.8		5.2
Total finance lease cost	$	11.9	$	13.2

Supplemental cash flow information related to leases was as follows:


	For the Year Ended
	December 31, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(209.7)	$	(200.2)
Operating cash flows from finance leases	(4.8)		(5.2)
Financing cash flows from finance leases	(12.6)		(12.3)

ROU assets obtained in exchange for lease obligations:
Operating leases	$	106.4	$	159.2
Finance leases	2.3		—

Supplemental balance sheet information related to leases was as follows:


	December 31, 2023			December 31, 2022
Operating Leases
Operating lease ROU assets (included in Property, plant and equipment, net)	$	737.1		$	738.1

Short-term operating lease liabilities	165.8			163.8
Operating lease liabilities	648.9			652.9
Total operating lease liabilities	$	814.7		$	816.7

Finance Leases

Finance lease ROU assets (included in Other assets)	$	69.5		$	74.9

Short-term finance lease liabilities	6.4			6.0
Financing lease liabilities	78.6			83.6
Total finance lease liabilities	$	85.0		$	89.6

Weighted Average Remaining Lease Term
Operating leases	8.4			9.0
Finance leases	14.7			15.6

Weighted Average Discount Rate
Operating leases	4.1		%	3.6		%
Finance leases	5.3		%	5.5		%

Maturities of lease liabilities are as follows:


Year Ended December 31, 2023	Operating Leases		Finance Leases
2024	$	200.1	$	11.3
2025	161.2		9.2
2026	114.1		8.6
2027	86.1		8.2
2028	70.7		7.6
Thereafter	330.1		78.3
Total lease payments	$	962.3	$	123.2
Less imputed interest	(147.6)		(38.2)
Less current portion	(165.8)		(6.4)
Total maturities, due beyond one year	$	648.9	$	78.6

Rent expense for short term leases with a term less than one year for the years ended December 31, 2023, 2022, and 2021 amounted to $31.9, $22.2, $19.5, respectively. The Company has variable lease payments that do not depend on a rate index, primarily for purchase volume commitments, which are recorded as variable cost when incurred. Total variable payments for the year ended December 31, 2023, 2022 and 2021 were $32.7, $27.9, and $28.4, respectively.