Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Lease Assets and Lease Liabilities [Table Text Block]
A summary of the Company's lease assets and lease liabilities as of December 31, 2023 and December 31, 2022 is as follows:
(in millions) Classification 2023 2022
Lease Assets
Operating lease assets Operating lease assets $ 152.2  $ 114.8 
Lease Liabilities
Current operating lease liabilities Accrued expenses 28.3  27.8 
Non-current operating lease liabilities Operating lease liabilities 133.9  97.8 
Total lease liabilities $ 162.2  $ 125.6 
Lease, Cost [Table Text Block]
A summary of the Company's total lease cost for the years ended December 31, 2023, December 31, 2022 and December 31, 2021 is as follows:
(in millions) Classification 2023 2022 2021
Operating lease cost Selling, general and administrative expense $ 20.1  $ 16.2  $ 13.4 
Cost of sales 39.3  34.0  28.6 
Variable lease cost Selling, general and administrative expense 1.6  1.3  1.1 
Cost of sales 6.2  5.5  5.2 
Total lease cost (A)
$ 67.2  $ 57.0  $ 48.3 

(A) Includes total short-term lease cost which is immaterial.
Operating Lease Liability, Maturity Analysis [Table Text Block]
The Company's maturity analysis of its operating lease liabilities as of December 31, 2023 is as follows:
(in millions)
2024 $ 37.2 
2025 28.0 
2026 23.2 
2027 19.7 
2028 17.3 
Thereafter 97.7 
Total lease payments 223.1 
Less: Interest (60.9)
Present value of lease liabilities $ 162.2