v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease Cost Income statement presentation for these costs (when ultimately recognized on the income statement) is also included:
Year Ended December 31, (in millions)
Income Statement Classification20252024
Finance lease cost
Amortization of right-of-use assetsDepreciation and amortization$20.5 $27.1 
Interest on lease liabilitiesInterest expense, net12.9 13.5 
Total finance lease cost33.4 40.6 
Operating lease costOperation and maintenance14.3 14.7 
Total lease cost$47.7 $55.3 
Right-of-Use Assets and Liabilities
Our right-of-use assets and liabilities are presented in the following lines on the Consolidated Balance Sheets:
At December 31, (in millions)
Balance Sheet Classification20252024
Assets
Finance leasesNet Property, Plant and Equipment$249.8 $222.9 
Operating leasesDeferred charges and other25.8 26.4
Total leased assets$275.6 $249.3 
Liabilities
Current
Finance leasesCurrent portion of long-term debt$19.7 $22.9 
Operating leasesOther accruals9.7 9.1
Noncurrent
Finance leasesLong-term debt, excluding amounts due within one year254.3 223.3
Operating leases
Other noncurrent liabilities and deferred credits
17.2 18.2
Total lease liabilities$300.9 $273.5 
Lease Information
Other pertinent information related to leases was as follows:
Year Ended December 31, (in millions)
20252024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases$14.5 $11.2 
Operating cash flows used for operating leases15.7 14.5
Financing cash flows used for finance leases22.0 26.9
Right-of-use assets obtained in exchange for lease obligations
Finance leases50.2 65.9
Operating leases$13.9 $12.2 
December 31, 2025December 31, 2024
Weighted-average remaining lease term (years)
Finance leases21.820.5
Operating leases5.35.6
Weighted-average discount rate
Finance leases5.7 %5.6 %
Operating leases4.5 %4.5 %
Lease Maturity
Maturities of our lease liabilities as of December 31, 2025 were as follows:
As of December 31, 2025, (in millions)
TotalFinance LeasesOperating Leases
2026$43.3 $32.6 $10.7 
202732.5 27.4 5.1 
202830.0 26.2 3.8 
202924.5 21.3 3.2 
203024.4 22.3 2.1 
Thereafter373.7 368.1 5.6 
Total lease payments528.4 497.9 30.5 
Less: Imputed interest(227.5)(223.9)(3.6)
Total
$300.9 $274.0 $26.9 
Reported as of December 31, 2025
Short-term lease liabilities29.4 19.7 9.7 
Long-term lease liabilities271.5 254.3 17.2 
Total lease liabilities$300.9 $274.0 $26.9