v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
A lease exists when a contract conveys to the customer the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The definition of a lease embodies two conditions: 1) there is an identified asset in the contract that is land or a depreciable asset (i.e., property, plant, and equipment); and 2) the customer has the right to control the use of the identified asset. Lease payments included in the measurement of the lease right-of-use assets and lease liabilities are comprised of fixed payments (including in-substance fixed payments), variable payments that depend on an index or rate, and the exercise price of a lessee option to purchase the underlying asset if the lessee is reasonably certain to exercise.
The components of lease expense were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Operating lease cost$7.3 $6.8 $14.5 $13.4 
Finance lease - amortization of right-of-use (ROU) assets0.5 0.4 1.0 0.7 
Finance lease - interest on lease liabilities— 0.1 0.1 0.1 
Short-term lease cost1.1 0.7 2.0 1.5 
Variable lease cost3.0 2.5 5.5 5.4 
Total lease cost$11.9 $10.5 $23.1 $21.1 
The following table summarizes the finance lease amounts in the condensed consolidated balance sheets:
June 30,December 31,
($ in millions)Balance Sheet Classification20262025
ROU assets, netOther noncurrent assets$33.2 $34.7 
Lease liabilities (current)Other current liabilities$1.4 $1.5 
Lease liabilities (noncurrent)Other long-term liabilities$3.0 $3.6 
Supplemental cash flow information related to leases was as follows:
Six Months Ended
June 30,
($ in millions)20262025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$13.8 $12.6 
Operating cash flows from finance leases$0.1 $0.1 
Financing cash flows from finance leases$0.7 $0.5 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases$0.8 $9.1 
Finance leases$0.2 $2.2 
The following table shows the weighted average remaining lease terms and discount rates for our operating and finance leases as of the periods ended:
June 30,
2026		December 31,
2025
Weighted average remaining lease term (in years):
Operating leases8.38.3
Finance leases4.14.4
Weighted average discount rate:
Operating leases4.72 %4.67 %
Finance leases4.09 %4.15 %
Maturities of the Company's lease liabilities as of June 30, 2026 were as follows:
($ in millions)
YearOperating LeasesFinance Leases
2026 (remaining period as of June 30, 2026)
$14.0 $0.7 
202721.4 1.5 
202820.5 1.1 
202915.1 0.6 
203010.4 0.4 
Thereafter53.5 0.4 
134.9 4.7 
Less: imputed lease interest(25.7)(0.3)
Total lease liabilities$109.2 $4.4 
Leases Leases
A lease exists when a contract conveys to the customer the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The definition of a lease embodies two conditions: 1) there is an identified asset in the contract that is land or a depreciable asset (i.e., property, plant, and equipment); and 2) the customer has the right to control the use of the identified asset. Lease payments included in the measurement of the lease right-of-use assets and lease liabilities are comprised of fixed payments (including in-substance fixed payments), variable payments that depend on an index or rate, and the exercise price of a lessee option to purchase the underlying asset if the lessee is reasonably certain to exercise.
The components of lease expense were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Operating lease cost$7.3 $6.8 $14.5 $13.4 
Finance lease - amortization of right-of-use (ROU) assets0.5 0.4 1.0 0.7 
Finance lease - interest on lease liabilities— 0.1 0.1 0.1 
Short-term lease cost1.1 0.7 2.0 1.5 
Variable lease cost3.0 2.5 5.5 5.4 
Total lease cost$11.9 $10.5 $23.1 $21.1 
The following table summarizes the finance lease amounts in the condensed consolidated balance sheets:
June 30,December 31,
($ in millions)Balance Sheet Classification20262025
ROU assets, netOther noncurrent assets$33.2 $34.7 
Lease liabilities (current)Other current liabilities$1.4 $1.5 
Lease liabilities (noncurrent)Other long-term liabilities$3.0 $3.6 
Supplemental cash flow information related to leases was as follows:
Six Months Ended
June 30,
($ in millions)20262025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$13.8 $12.6 
Operating cash flows from finance leases$0.1 $0.1 
Financing cash flows from finance leases$0.7 $0.5 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases$0.8 $9.1 
Finance leases$0.2 $2.2 
The following table shows the weighted average remaining lease terms and discount rates for our operating and finance leases as of the periods ended:
June 30,
2026		December 31,
2025
Weighted average remaining lease term (in years):
Operating leases8.38.3
Finance leases4.14.4
Weighted average discount rate:
Operating leases4.72 %4.67 %
Finance leases4.09 %4.15 %
Maturities of the Company's lease liabilities as of June 30, 2026 were as follows:
($ in millions)
YearOperating LeasesFinance Leases
2026 (remaining period as of June 30, 2026)
$14.0 $0.7 
202721.4 1.5 
202820.5 1.1 
202915.1 0.6 
203010.4 0.4 
Thereafter53.5 0.4 
134.9 4.7 
Less: imputed lease interest(25.7)(0.3)
Total lease liabilities$109.2 $4.4