Leases (Tables)

9 Months Ended

Sep. 30, 2020

The components of lease expense during the three and nine months ended September 30, 2020 and 2019 were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(Dollars in millions)
Operating lease cost:
Operating lease cost	$	6.3	$	9.9	$	23.3	$	33.9
Short-term lease cost	10.2		15.8		31.7		34.7
Variable lease cost	1.1		2.0		3.7		16.6
Sublease income	—		(1.0)		—		(1.9)
Total operating lease cost	$	17.6	$	26.7	$	58.7	$	83.3

Finance lease cost:
Amortization of right-of-use assets	$	0.8	$	3.4	$	5.2	$	12.0
Interest on lease liabilities	0.2		0.3		0.5		1.2
Total finance lease cost	$	1.0	$	3.7	$	5.7	$	13.2

Supplemental balance sheet information related to leases at September 30, 2020 and December 31, 2019 was as follows:


	September 30, 2020			December 31, 2019
	(Dollars in millions)
Operating leases:
Operating lease right-of-use assets	$	44.9		$	82.4

Accounts payable and accrued expenses	$	54.4		$	29.6
Operating lease liabilities, less current portion	7.1			52.8
Total operating lease liabilities	$	61.5		$	82.4

Finance leases:
Property, plant, equipment and mine development	$	24.6		$	89.6
Accumulated depreciation	(20.7)			(45.9)
Property, plant, equipment and mine development, net	$	3.9		$	43.7

Current portion of long-term debt	$	8.0		$	14.3
Long-term debt, less current portion	—			0.9
Total finance lease liabilities	$	8.0		$	15.2

Weighted average remaining lease term (years)
Operating leases	3.5
Finance leases	16.3

Weighted average discount rate
Operating leases	7.4		%
Finance leases	6.2		%

Supplemental cash flow information related to leases during the three and nine months ended September 30, 2020 and 2019 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(Dollars in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	6.8	$	8.4	$	26.4	$	41.8
Operating cash flows for finance leases	0.1		0.3		0.5		1.2
Financing cash flows for finance leases	0.2		5.6		8.1		24.0

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	0.2		3.4		2.3		9.7
Finance leases	0.5		0.3		1.5		0.4

While certain amounts below are classified as current, the contractual maturities of lease liabilities were as follows:

While certain amounts below are classified as current, the contractual maturities of lease liabilities were as follows: