We lease office space and certain equipment under various operating leases, with most of our lease portfolio consisting of operating leases for office space. Our leases have remaining lease terms of approximately 1 year to 10 years, which may include the option to extend the lease when it is reasonably certain we will exercise that option. We do not have lease agreements with residual value guarantees, sale leaseback terms, or material restrictive covenants.


	Three months ended March 31,
(in millions)	2026		2025
Operating lease cost	$	12.1	$	11.0
Variable lease cost	$	3.9	$	2.8


	Three months ended March 31,
(in millions)	2026		2025
Cash paid for amounts included in the measurement for operating lease liabilities	$	12.3	$	9.4
Right of use assets obtained in exchange for operating lease liability	$	18.6	$	—

The following table shows our minimum future lease commitments due in the remainder of 2026, each of the next four subsequent years, and thereafter, for operating leases:


(in millions)	As of March 31, 2026
Remainder of 2026 (April1 through December 31)	$	37.3
2027	44.6
2028	37.6
2029	26.5
2030	20.0
Thereafter	59.2
Total minimum lease commitments	225.2
Adjustment for discount to present value	31.5
Present value of lease liabilities	$	193.7

The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates for our operating leases:


	As of March 31, 2026
Weighted-average remaining lease term (in years)	5.8

Weighted-average discount rate	4.7	%