Leases (Tables)

12 Months Ended

Dec. 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 December 31, 2019 was:

(in millions)	Short-Term (12 months or less)		Long-Term		Total
Total lease receivable (Sales-type and Operating)	$	4.9	$	10.6	$	15.5

Assets And Liabilities, Lessee

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

(in millions)	December 31, 2019
Other non-current assets:
Finance leases - ROU assets	$	54.8
Finance leases - Accumulated depreciation	(15.0		)
Operating lease right-of-use-assets:
Operating leases - ROU assets	118.8
Operating leases - Accumulated depreciation	(28.7		)
Total lease assets	$	129.9
Current portion of long-term debt:
Finance leases	$	(10.4	)
Current portion of operating lease liabilities:
Operating leases	(26.2		)
Long-term debt, less current portion:
Finance leases	(28.7		)
Long-term operating lease liabilities, less current portion:
Operating leases	(65.7		)
Total lease liabilities	$	(131.0	)

Finance Leases, Future Minimum Annual Rental Commitments

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

(in millions)	Finance leases			Operating leases
2020	$	12.1		$	30.6
2021	10.5			24.0
2022	5.9			16.0
2023	3.2			11.2
2024	1.8			7.5
Thereafter	13.4			16.1
Total lease payments	46.9			105.4
Less: Interest	(7.8		)	(13.5		)
Present value of lease liabilities	$	39.1		$	91.9

Operating Leases, Future Minimum Annual Rental Commitments

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

(in millions)	Finance leases			Operating leases
2020	$	12.1		$	30.6
2021	10.5			24.0
2022	5.9			16.0
2023	3.2			11.2
2024	1.8			7.5
Thereafter	13.4			16.1
Total lease payments	46.9			105.4
Less: Interest	(7.8		)	(13.5		)
Present value of lease liabilities	$	39.1		$	91.9

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(1)
2019	$	28.5
2020	20.1
2021	14.7
2022	10.1
2023	6.9
Thereafter	17.0
Total lease payments	$	97.3

⁽¹⁾ 

Amounts as of December 31, 2018 are based on ASC 840, and were superseded with our adoption of ASC 842, Leases on January 1, 2019. Refer to Note 2, "Recently Adopted and Issued Accounting Standards," of the Notes to Consolidated Financial Statements for additional information on our adoption of new accounting standards.

Schedule of Lease Costs and Other Information

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

(in millions)	December 31, 2019
Lease cost(1)
Finance leases
Amortization of ROU assets	$	9.1
Interest on lease liabilities	2.1
Operating leases	32.9
Short-term lease cost	5.9
Variable lease cost	5.2
Total lease cost	$	55.2

⁽¹⁾  With the exception of Interest on lease liabilities, we record lease costs to Cost of Sales or Selling, general and administrative expenses on the Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities are recorded to Interest expense, net on the Consolidated Statement of Operations.

(in millions)	December 31, 2019
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - finance leases	$	5.1
Operating cash flows - operating leases	$	34.7
Financing cash flows - finance leases	$	9.3
ROU assets obtained in exchange for new finance lease liabilities	$	21.3
ROU assets obtained in exchange for new operating lease liabilities	$	34.7

Weighted average information:
Finance leases
Remaining lease term (in years)	6.4
Discount rate	4.9	%
Operating leases
Remaining lease term (in years)	4.9
Discount rate	5.2	%