Leases (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Lease-Related Liabilities Recorded on the Balance Sheet

The table below presents the lease-related liabilities recorded on the balance sheet (in millions):



	March 31, 2019			December 31, 2018
Operating lease liabilities:
Current portion included in accrued liabilities	$	25.5		$	—
Long-term portion of lease liabilities	235.2			—
Total operating lease liabilities	260.7			—
Financing lease liabilities:
Current portion included in Current maturities of long-term debt	1.0			2.0
Long-term portion of lease liabilities in other debt	29.9			28.8
Total financing lease liabilities ¹	30.9			30.8
Total lease liabilities	$	291.6		$	30.8
Weighted-average remaining lease term:
Operating leases	13 years
Finance leases	14 years
Weighted-average discount rate:
Operating leases	5.07		%
Finance leases	5.81		%

¹Corresponding finance lease assets are not material and are included in property, plant and equipment, net of accumulated depreciation.

Schedule of Lease Costs

The components of lease costs, which were included in Selling, general and administrative in our Consolidated Statements of Operations, were as follows (in millions):



	Three Months Ended March 31,
	2019
Operating lease cost ¹	$	12.0
Variable lease cost ²	0.8
Sublease income	(1.0		)
Total lease costs	$	11.8

¹Includes short-term and month-to-month lease costs, which are immaterial.

²Variable lease cost generally includes reimbursement for actual costs incurred by our lessors for common area maintenance, property taxes and insurance on leased real estate.

Schedule of Maturities of Operating Lease Liabilities

As of March 31, 2019, the maturities of our operating lease liabilities were as follows (in millions):



	Operating Leases
Remainder of 2019	$	28.7
Year Ending December 31,
2020	35.7
2021	32.5
2022	30.0
2023	25.0
Thereafter	216.3
Total minimum lease payments	368.2
Less:
Present value adjustment	(107.5		)
Operating lease liabilities	$	260.7