Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Summary of Lease Payments Captured in Lease Receivable

All lease payments are primarily fixed in nature and therefore captured in the lease receivable. Our lease receivable balance at March 31, 2019 was:

(in millions)	Short-Term (12 months or less)		Long-Term		Total
Total lease receivable (Sales-type and Operating)	$	3.6	$	8.7	$	12.3

Assets And Liabilities, Lessee

The following table details our lease obligations included in our Condensed Consolidated Balance Sheets.

(in millions)	March 31, 2019
Other non-current assets:
Finance leases - ROU assets	$	41.2
Finance leases - Accumulated depreciation	(9.5		)
Operating leases - ROU assets	85.5
Operating leases - Accumulated depreciation	(9.0		)
Total lease assets	$	108.2
Current portion of long-term debt:
Finance leases	$	(7.0	)
Operating leases	(23.2		)
Long-term debt, less current portion:
Finance leases	(26.8		)
Operating leases	(55.2		)
Total lease liabilities	$	(112.2	)

Finance Lease, Future Minimum Annual Rental Commitments

At March 31, 2019, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:

(in millions)	Operating leases			Finance leases
Remainder of 2019	$	21.2		$	6.7
2020	21.4			7.8
2021	15.5			6.1
2022	10.5			4.1
2023	7.2			2.7
Thereafter	16.9			15.1
Total lease payments	92.7			42.5
Less: Interest	(14.3		)	(8.7		)
Present value of lease liabilities	$	78.4		$	33.8

Operating Lease, Future Minimum Annual Rental Commitments

At March 31, 2019, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:

(in millions)	Operating leases			Finance leases
Remainder of 2019	$	21.2		$	6.7
2020	21.4			7.8
2021	15.5			6.1
2022	10.5			4.1
2023	7.2			2.7
Thereafter	16.9			15.1
Total lease payments	92.7			42.5
Less: Interest	(14.3		)	(8.7		)
Present value of lease liabilities	$	78.4		$	33.8

Schedule of Lease Costs and Other Information

The following lease cost is included in our Condensed Consolidated Statements of Operations:

(in millions)	Three Months Ended March 31, 2019
Lease cost
Finance leases
Amortization of ROU assets	$	2.1
Interest on lease liabilities	0.5
Operating leases	8.4
Short-term lease cost	0.9
Variable lease cost	1.0
Total lease cost	$	12.9

(in millions)	Three Months Ended March 31, 2019
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	0.5
Operating cash flows from operating leases	$	8.6
Financing cash flows from finance leases	$	2.3
ROU assets obtained in exchange for new finance lease liabilities	$	5.4
ROU assets obtained in exchange for new operating lease liabilities	$	3.8

Weighted average information:
Finance leases
Remaining lease term (in years)	7.8
Discount rate	5.5	%
Operating leases
Remaining lease term (in years)	5.1
Discount rate	5.6	%