Leases (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2019 was:

(in millions)	Short-Term (12 months or less)		Long-Term		Total
Total lease receivable (Sales-type and Operating)	$	4.2	$	7.4	$	11.6

Assets And Liabilities, Lessee

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

(in millions)	September 30, 2019
Other non-current assets:
Finance leases - ROU assets	$	54.6
Finance leases - Accumulated depreciation	(13.5		)
Operating lease right-of-use-assets:
Operating leases - ROU assets	101.3
Operating leases - Accumulated depreciation	(21.0		)
Total lease assets	$	121.4
Current portion of long-term debt:
Finance leases	$	(10.3	)
Current portion of operating lease liabilities:
Operating leases	(24.6		)
Long-term debt, less current portion:
Finance leases	(30.4		)
Long-term operating lease liabilities, less current portion:
Operating leases	(57.4		)
Total lease liabilities	$	(122.7	)

Finance Leases, Future Minimum Annual Rental Commitments

At September 30, 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	$	7.5		$	3.2
2020	26.4			11.9
2021	20.3			10.2
2022	13.3			5.7
2023	9.0			2.8
Thereafter	18.7			15.2
Total lease payments	95.2			49.0
Less: Interest	(13.2		)	(8.3		)
Present value of lease liabilities	$	82.0		$	40.7

Operating Leases, Future Minimum Annual Rental Commitments

At September 30, 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	$	7.5		$	3.2
2020	26.4			11.9
2021	20.3			10.2
2022	13.3			5.7
2023	9.0			2.8
Thereafter	18.7			15.2
Total lease payments	95.2			49.0
Less: Interest	(13.2		)	(8.3		)
Present value of lease liabilities	$	82.0		$	40.7

Operating Leases, Future Minimum Rental Commitments Prior to Adoption of ASC 842

At December 31, 2018, operating leases estimated future minimum annual rental commitments under non-cancelable real and personal property leases, prior to the adoption of ASC 842, were as follows:

(in millions)	Operating leases
2019	$	28.5
2020	20.1
2021	14.7
2022	10.1
2023	6.9
Thereafter	17.0
Total lease payments	$	97.3

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 September 30, 2019		Nine Months Ended September 30, 2019
Lease cost
Finance leases
Amortization of ROU assets	$	2.4	$	6.5
Interest on lease liabilities	0.5		1.5
Operating leases	7.4		23.7
Short-term lease cost	2.0		3.9
Variable lease cost	1.6		4.7
Total lease cost	$	13.9	$	40.3

(in millions)	Nine Months Ended September 30, 2019
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	3.9
Operating cash flows from operating leases	$	26.1
Financing cash flows from finance leases	$	6.5
ROU assets obtained in exchange for new finance lease liabilities	$	19.6
ROU assets obtained in exchange for new operating lease liabilities	$	14.5

Weighted average information:
Finance leases
Remaining lease term (in years)	6.4
Discount rate	5.0	%
Operating leases
Remaining lease term (in years)	4.9
Discount rate	5.4	%