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LEASES (Tables)
 3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Schedule of lease expense and supplemental cash flow information for leases
The components of lease expense and supplemental cash flow information related to our leases for the quarters ended March 31 are as follows:
(in millions)
 
2019
 
2018
Long-term power purchase commitment
 
$
2.0

 
$
1.9

We Power leases
 
91.8

 
91.8

Total finance/capital lease expense (1)
 
$
93.8

 
$
93.7

 
 
 
 
 
Operating lease expense (2)
 
0.7

 
0.7

Total lease expense
 
$
94.5

 
$
94.4

 
 
 
 
 
Other information
 
 
 
 
 
 
 
 
 
Cash paid for amounts included in the measurement of lease liabilities
 
 
 
 
   Operating cash flows from finance/capital leases (3)
 
$
89.8

 
$
94.2

   Operating cash flows from operating leases
 
$
0.7

 
$
0.7

   Financing cash flows from finance leases (3)
 
$
5.7

 
$
—

 
 
 
 
 
Non-cash activity - right of use assets obtained in exchange for operating lease liabilities
 
$
13.0

 
 
 
 
 
 
 
Weighted-average remaining lease term – finance leases
 
19.3 years

 
 
Weighted-average remaining lease term – operating leases
 
22.4 years

 
 
 
 
 
 
 
Weighted-average discount rate – finance leases (4)
 
13.9
%
 
 
Weighted average discount rate – operating leases (4)
 
4.6
%
 
 

(1) 
For the quarter ended March 31, 2019, total finance lease expense included amortization of right of use assets in the amount of $5.7 million (included in depreciation and amortization expense) and interest on lease liabilities of $88.1 million (included in interest expense). For the quarter ended March 31, 2018, total finance lease cost related to the long-term power purchase agreement was included in cost of sales and total finance lease cost related to the PWGS and ERGS units was included in other operation and maintenance.

(2) 
Operating lease expense was included as a component of operation and maintenance for the quarters ended March 31, 2019 and 2018.

(3) 
Prior to our adoption of Topic 842 on January 1, 2019, all cash flows related to finance leases were recorded as a component of operating cash flows.

(4) 
Because our operating leases do not provide an implicit rate of return, we used the fully collateralized incremental borrowing rates based upon information available for similarly rated companies in determining the present value of lease payments for our operating leases. For our financing leases, the rate implicit in each lease was readily determinable.
Schedule of finance lease right of use assets
The following table summarizes our finance lease right of use assets, which were included in property, plant and equipment on our balance sheets:
(in millions)
 
March 31, 2019
 
December 31, 2018
Long-term power purchase commitment
 
 
 
 
Under finance/capital lease
 
$
140.3

 
$
140.3

Accumulated amortization
 
(122.3
)
 
(120.9
)
Total long-term power purchase commitment
 
$
18.0

 
$
19.4

 
 
 
 
 
PWGS
 
 
 
 
Under finance/capital lease
 
$
739.2

 
$
736.9

Accumulated amortization
 
(343.9
)
 
(335.9
)
Total PWGS
 
$
395.3

 
$
401.0

 
 
 
 
 
ERGS
 
 
 
 
Under finance/capital lease
 
$
2,184.5

 
$
2,166.3

Accumulated amortization
 
(617.2
)
 
(598.8
)
Total ERGS
 
$
1,567.3

 
$
1,567.5

 
 
 
 
 
Total finance lease right of use assets/capital lease assets
 
$
1,980.6

 
$
1,987.9
Schedule of future minimum lease payments for operating and finance leases
Future minimum lease payments under our finance and operating leases and the present value of our net minimum lease payments as of March 31, 2019 were as follows:
(in millions)
 
Total Operating Leases
 
Power Purchase Commitment
 
PWGS
 
ERGS
 
Total Finance Leases
Nine months ended December 31, 2019
 
$
2.0

 
$
6.2

 
$
73.5

 
$
219.8

 
$
299.5

2020
 
2.7

 
8.8

 
98.0

 
293.1

 
399.9

2021
 
0.7

 
9.4

 
98.0

 
293.1

 
400.5

2022
 
0.6

 
4.2

 
98.0

 
292.9

 
395.1

2023
 
0.5

 
—

 
98.0

 
292.8

 
390.8

2024
 
0.5

 
—

 
97.9

 
292.7

 
390.6

Thereafter
 
13.5

 
—

 
677.8

 
4,538.5

 
5,216.3

Total minimum lease payments
 
20.5

 
28.6

 
1,241.2

 
6,222.9

 
7,492.7

Less: Interest
 
(8.0
)
 
(6.5
)
 
(609.7
)
 
(4,010.7
)
 
(4,626.9
)
Present value of minimum lease payments
 
12.5

 
22.1

 
631.5

 
2,212.2

 
2,865.8

Less: Short-term lease liabilities
 
(2.2
)
 
(5.2
)
 
(23.1
)
 
(23.7
)
 
(52.0
)
Long-term lease liabilities
 
$
10.3

 
$
16.9

 
$
608.4

 
$
2,188.5

 
$
2,813.8