Leases (Tables)

9 Months Ended

Sep. 30, 2019

Adoption of the standard related to leases impacted our previously reported results as follows:



	Balance as of		Adoption		Balance as of
	December 31, 2018		Adjustments		January 1, 2019
(in millions)
Operating lease right-of-use assets	$	—	$	241.1	$	241.1
Finance lease right-of-use assets	340.9		—		340.9
Accrued and other noncurrent liabilities	—		241.1		241.1
Long-term debt, including current maturities	302.2		—		302.2

The components of lease expense, included primarily within cost of goods sold and selling, general and administrative expenses, were as follows:



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
(in millions)
Operating lease cost	$	25.9	$	79.5
Finance lease cost:
Amortization of right-of-use assets	$	6.8	$	19.4
Interest on lease liabilities	3.8		11.3
	$	10.6	$	30.7

Short-term lease cost	$	2.9	$	8.7
Variable lease cost	5.6		15.6
Total lease cost	$	45.0	$	134.5

Supplemental cash flow information related to leases was as follows:



	Nine Months Ended September 30, 2019
(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	81.3
Operating cash flows from finance leases	$	8.0
Financing cash flows from finance leases	$	27.7

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	50.4
Finance leases	$	71.8

Other information related to leases was as follows:



	September 30, 2019
Weighted Average Remaining Lease Term
Operating leases	4.8 years
Finance leases	5.0 years

Weighted Average Discount Rate
Operating leases	6.5	%
Finance leases	3.9	%

Future lease payments under non-cancellable leases recorded as of September 30, 2019, were as follows:



	Operating Leases			Finance Leases
(in millions)
2019 (excluding the nine months ended September 30, 2019)	$	24.6		$	12.1
2020	76.4			48.3
2021	51.1			51.6
2022	35.3			43.5
2023	24.9			75.2
Thereafter	39.1			182.3
Total future lease payments	$	251.4		$	413.0
Less imputed interest	(36.2		)	(68.6		)
Total	$	215.2		$	344.4

Reported as of September 30, 2019
Accrued liabilities	$	72.3		$	—
Current maturities of long-term debt	—			37.5
Other noncurrent liabilities	142.9			—
Long-term debt, less current maturities	—			306.9
Total	$	215.2		$	344.4

A schedule of our minimum lease payments under non-cancelable capital and operating leases as of December 31, 2018 is as follows: