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Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases LEASES
A summary of the lease classification on our consolidated balance sheet as of December 31, 2021 and 2020 follows:
20212020
Assets
Operating right-of-use lease assetsOther assets$255.3 $218.8 
Finance lease assetsProperty and equipment, net291.7 227.7 
Total leased assets$547.0 $446.5 
Liabilities
Current
OperatingOther accrued liabilities$38.2 $33.5 
FinanceNotes payable and current maturities of long-term debt8.2 5.8 
Long-term
OperatingOther long-term liabilities239.0 206.6 
FinanceLong-term debt, net of current maturities241.2 200.7 
Total lease liabilities$526.6 $446.6 
A summary of the lease cost reflected in our consolidated statements of income for the years ended December 31 follow:
20212020
Operating lease cost
Fixed lease costCost of operations$44.6 $44.0 
Short-term lease costCost of operations25.4 23.4 
Variable lease costCost of operations20.7 18.6 
Finance lease cost
Amortization of leased assetsDepreciation amortization, and depletion10.5 7.6 
Interest on lease liabilitiesInterest expense9.3 8.2 
Variable lease costInterest expense16.4 14.0 
Total lease cost$126.9 $115.8 
During the years ended December 31, 2021 and 2020, we recognized changes in our operating right-of-use lease liabilities and assets, resulting from the recognition of non-cash lease expense of $35.8 million and $34.1 million, respectively.
As of December 31, 2021, maturities for operating and finance lease liabilities were as follows:
Operating LeasesFinance LeasesTotal
2022$45.1 $18.0 $63.1 
202344.2 40.1 84.3 
202440.8 13.8 54.6 
202537.7 13.9 51.6 
202633.6 14.0 47.6 
Thereafter114.0 333.8 447.8 
Total lease payments315.4 433.6 749.0 
Less: interest(38.2)(184.2)(222.4)
Present value of lease liabilities$277.2 $249.4 $526.6 
A summary of the weighted-average remaining lease term and weighted-average discount rate as of December 31, 2021 and 2020 follows:
20212020
Weighted-average remaining lease term (years)
Operating leases8.28.4
Finance leases28.230.4
Weighted-average discount rate
Operating leases3.2 %3.8 %
Finance leases3.8 %4.3 %
Supplemental cash flow and other non-cash information for the years ended December 31 follow:
20212020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$91.4 $86.9 
Operating cash flows from finance leases$25.8 $22.2 
Financing cash flows from finance leases$7.4 $8.1 
Leased assets obtained in exchange for new finance lease liabilities$50.2 $108.0 
Leased assets obtained in exchange for new operating lease liabilities$78.5 $24.8 
Leases LEASES
A summary of the lease classification on our consolidated balance sheet as of December 31, 2021 and 2020 follows:
20212020
Assets
Operating right-of-use lease assetsOther assets$255.3 $218.8 
Finance lease assetsProperty and equipment, net291.7 227.7 
Total leased assets$547.0 $446.5 
Liabilities
Current
OperatingOther accrued liabilities$38.2 $33.5 
FinanceNotes payable and current maturities of long-term debt8.2 5.8 
Long-term
OperatingOther long-term liabilities239.0 206.6 
FinanceLong-term debt, net of current maturities241.2 200.7 
Total lease liabilities$526.6 $446.6 
A summary of the lease cost reflected in our consolidated statements of income for the years ended December 31 follow:
20212020
Operating lease cost
Fixed lease costCost of operations$44.6 $44.0 
Short-term lease costCost of operations25.4 23.4 
Variable lease costCost of operations20.7 18.6 
Finance lease cost
Amortization of leased assetsDepreciation amortization, and depletion10.5 7.6 
Interest on lease liabilitiesInterest expense9.3 8.2 
Variable lease costInterest expense16.4 14.0 
Total lease cost$126.9 $115.8 
During the years ended December 31, 2021 and 2020, we recognized changes in our operating right-of-use lease liabilities and assets, resulting from the recognition of non-cash lease expense of $35.8 million and $34.1 million, respectively.
As of December 31, 2021, maturities for operating and finance lease liabilities were as follows:
Operating LeasesFinance LeasesTotal
2022$45.1 $18.0 $63.1 
202344.2 40.1 84.3 
202440.8 13.8 54.6 
202537.7 13.9 51.6 
202633.6 14.0 47.6 
Thereafter114.0 333.8 447.8 
Total lease payments315.4 433.6 749.0 
Less: interest(38.2)(184.2)(222.4)
Present value of lease liabilities$277.2 $249.4 $526.6 
A summary of the weighted-average remaining lease term and weighted-average discount rate as of December 31, 2021 and 2020 follows:
20212020
Weighted-average remaining lease term (years)
Operating leases8.28.4
Finance leases28.230.4
Weighted-average discount rate
Operating leases3.2 %3.8 %
Finance leases3.8 %4.3 %
Supplemental cash flow and other non-cash information for the years ended December 31 follow:
20212020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$91.4 $86.9 
Operating cash flows from finance leases$25.8 $22.2 
Financing cash flows from finance leases$7.4 $8.1 
Leased assets obtained in exchange for new finance lease liabilities$50.2 $108.0 
Leased assets obtained in exchange for new operating lease liabilities$78.5 $24.8