LEASES

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

LEASES

NOTE 19. LEASES

The Company has operating leases, substantially all of which relate to the lease of office space. The Company’s leases which are classified as finance leases are not material to the condensed consolidated financial statements. Certain of the Company’s leases include options to renew, with renewal terms that can extend the lease term from one to 20 years at the Company’s discretion.

The following table presents the components of the Company’s lease cost:

	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Operating lease cost	$	24.5	$	49.1
Short-term lease cost		-		0.4
Variable lease cost		4.1		7.7
Total lease cost	$	28.6	$	57.2

During the second quarter of 2019, the Company recorded $24.8 million of ROU Asset impairment charges related to the exit of certain real estate leases. The impairment charges were recording within Restructuring expense on the condensed consolidated statement of operations. Refer to Note 13 for further details.

The following tables present other information related to the Company’s operating leases:

	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	27.0	$	53.2
Right-of-use assets obtained in exchange for new operating lease liabilities	$	6.9	$	15.9
			June 30, 2019
Weighted-average remaining lease term				7.3	years
Weighted-average discount rate applied to operating leases				3.6%

The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at June 30, 2019:

Year Ending December 31,	Operating Leases
2019 (After June 30)	$	54.8
2020		106.9
2021		100.5
2022		87.2
2023		81.7
After 2023		248.1
Total lease payments (undiscounted)		679.2
Less: Interest		79.9
Present value of lease liabilities:	$	599.3
Lease liabilities - current	$	89.1
Lease liabilities - noncurrent	$	510.2