LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Future Minimum Rental Receipts Expected Under Operating Leases

Future minimum rental receipts expected under non-cancellable operating lease agreements as of December 31, 2019, were as follows:

Year Ended December 31,	Amount (1)
2020	$	5,829.1
2021	5,711.1
2022	5,136.5
2023	4,985.0
2024	4,802.7
Thereafter	20,410.3
Total	$	46,874.7

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(1) Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods.    

Schedule Of Future Minimum Rental Receipts

Future minimum rental receipts expected under non-cancellable operating lease agreements in effect at December 31, 2018 were as follows:

Year Ended December 31,	Amount (1)
2019	$	5,251.2
2020	5,062.2
2021	4,676.1
2022	3,754.6
2023	3,457.3
Thereafter	12,641.1
Total	$	34,842.5

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(1) Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods.    

Information About Other Lease-Related Balances

Information about other lease-related balances as of December 31, 2019 is as follows:

Operating leases:
Right-of-use asset	$	7,357.4
Current portion of lease liability	$	494.5
Lease liability	6,510.4
Total operating lease liability	$	7,004.9
Finance leases:
Current portion of lease liability	$	6.7
Lease liability	24.0
Total finance lease liability	$	30.7

Components of Lease Costs

The weighted-average remaining lease terms and incremental borrowing rates as of December 31, 2019 are as follows:

Operating leases:
Weighted-average remaining lease term (years)	13.1
Weighted-average incremental borrowing rate	6.1	%
Finance leases:
Weighted-average remaining lease term (years)	15.0
Weighted-average incremental borrowing rate	6.2	%

The following table sets forth the components of lease cost for the year ended December 31, 2019:

	Year ended December 31, 2019
Operating lease cost	$	1,013.1
Variable lease costs not included in lease liability (1)	261.7

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(1)    Includes property tax paid on behalf of the landlord.

The interest expense on finance lease liabilities was $1.7 million for the year ended December 31, 2019. Assets held under finance leases are recorded in property and equipment and are depreciated over the lesser of the remaining lease term or the remaining useful life.

Supplemental cash flow information for the year ended December 31, 2019 is as follows:

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,012.2	)
Operating cash flows from finance leases	$	(1.7	)
Financing cash flows from finance leases	$	(18.0	)
Non-cash items:
New operating leases (1)	$	409.5
Operating lease modifications and reassessments (2)	$	334.1

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(1) Amount includes new operating leases and leases acquired in connection with acquisitions.

(2)

Includes a $60.6 million reduction of the operating lease liability.

Maturities of Finance Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2019 were as follows:

Fiscal Year	Operating Lease (1)			Finance Lease (1)
2020	$	904.3		$	8.0
2021	878.3			5.3
2022	845.5			4.3
2023	810.3			3.0
2024	766.4			2.1
Thereafter	6,140.1			45.4
Total lease payments	10,344.9			68.1
Less amounts representing interest	(3,340.0		)	(37.4		)
Total lease liability	7,004.9			30.7
Less current portion of lease liability	494.5			6.7
Non-current lease liability	$	6,510.4		$	24.0

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(1)

Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods.

Maturities of Operating Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2019 were as follows:

Fiscal Year	Operating Lease (1)			Finance Lease (1)
2020	$	904.3		$	8.0
2021	878.3			5.3
2022	845.5			4.3
2023	810.3			3.0
2024	766.4			2.1
Thereafter	6,140.1			45.4
Total lease payments	10,344.9			68.1
Less amounts representing interest	(3,340.0		)	(37.4		)
Total lease liability	7,004.9			30.7
Less current portion of lease liability	494.5			6.7
Non-current lease liability	$	6,510.4		$	24.0

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(1)

Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods.

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum rental payments under non-cancellable operating leases as of December 31, 2018 were as follows:

Year Ended December 31,	Amount (1)
2019	$	926.0
2020	904.2
2021	879.8
2022	834.2
2023	792.6
Thereafter	6,173.1
Total	$	10,509.9

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(1) Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods.

Schedule of Future Minimum Rental Payments Under Capital Leases

Future minimum rental payments under capital leases in effect as of December 31, 2018 were as follows:

Year Ended December 31,	Amount (1)
2019	$	40.7
2020	32.7
2021	27.8
2022	23.7
2023	19.2
Thereafter	117.5
Total	261.6
Less amounts representing interest	(82.1		)
Present value of capital lease obligations	$	179.5

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(1)

Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods.