Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022 and December 31, 2021 is as follows:
(in millions) Classification 2022 2021
Lease Assets
Operating lease assets Operating lease assets $ 114.8  $ 92.8 
Lease Liabilities
Current operating lease liabilities Accrued expenses 27.8  25.8 
Non-current operating lease liabilities Operating lease liabilities 97.8  75.5 
Total lease liabilities $ 125.6  $ 101.3 
Lease, Cost [Table Text Block]
A summary of the Company's total lease cost for the years ended December 31, 2022, December 31, 2021 and December 31, 2020 is as follows:
(in millions) Classification 2022 2021 2020
Operating lease cost Selling, general, and administrative expense $ 16.2  $ 13.4  $ 13.2 
Cost of sales 34.0  28.6  24.9 
Variable lease cost Selling, general, and administrative expense 1.3  1.1  1.1 
Cost of sales 5.5  5.2  4.8 
Total lease cost (A)
$ 57.0  $ 48.3  $ 44.0 

(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, 2022 is as follows:
(in millions)
2023 $ 33.0 
2024 30.3 
2025 18.9 
2026 13.7 
2027 11.3 
Thereafter 49.5 
Total lease payments 156.7 
Less: Interest (31.1)
Present value of lease liabilities $ 125.6