Quarterly report pursuant to Section 13 or 15(d)

Leased Assets (Tables)

v3.23.3
Leased Assets (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Operating Lease Assets and Liabilities on Balance Sheet
The table below presents the locations of the operating lease assets and liabilities on the Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022, respectively (in millions):

Balance Sheet Line Item September 30, 2023 December 31, 2022
Operating lease assets Operating lease right-of-use assets $ 33.6  $ 40.1 
Financing lease assets Other assets $ 0.2  $ 0.5 
Operating lease liabilities:
       Current operating lease liabilities Current operating lease liabilities $ 6.9  $ 8.5 
       Non-current operating lease liabilities Operating lease liability, non-current 28.9  34.3 
Liabilities held for sale Accrued expenses and other current liabilities —  0.5 
Total operating lease liabilities: $ 35.8  $ 43.3 
Financing lease liabilities:
       Current financing lease liabilities Accrued expenses and other current liabilities $ 0.1  $ 0.4 
       Non-current financing lease liabilities Deferred income taxes and other long-term liabilities 0.1  0.1 
Total financing lease liabilities: $ 0.2  $ 0.5 
Schedule of Weighted Average Lease Term and Discount Rate for Operating Lease
The Company’s weighted average remaining lease term and weighted average discount rate for operating leases as of September 30, 2023 and December 31, 2022, respectively, are:
September 30, 2023 December 31, 2022
Operating leases
       Weighted average remaining lease term (in years) 6.8 6.9
       Weighted average discount rate 4.26  % 4.13  %
Schedule of Undiscounted Future Minimum Lease Payments
The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable operating leases with terms of more than one year to the total lease liabilities recognized on the Condensed Consolidated Balance Sheets as of September 30, 2023 (in millions):

Fiscal year ending December 31:
2023 $ 2.3 
2024 7.8 
2025 6.7 
2026 5.7 
2027 5.0 
       2028 and thereafter 13.9 
Total undiscounted future minimum lease payments 41.4 
       Less: Imputed interest (5.6)
Total operating lease liabilities $ 35.8