Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Summary of Company's Lease Portfolio and Balance Sheet Components

The following table includes a summary of the Company's lease portfolio and Balance Sheet classification:

In millions	Classification	September 30, 2019		January 1, 2019
Assets
Operating lease right-of-use assets (1)	Other noncurrent assets	$	559.0	$	517.1
Liabilities
Operating lease current	Other current liabilities	171.3		160.3
Operating lease noncurrent	Other noncurrent liabilities	392.4		360.5

(1) Per ASC 842, prepaid lease payments and lease incentives are recorded as part of the right-of-use asset. The net impact was $4.7 million and $3.7 million at September 30, 2019 and January 1, 2019, respectively.

Schedule of Lease Cost and Related Cash Flow Information

The following table includes lease costs and related cash flow information for the three and nine months ended September 30, 2019:

In millions	Three months ended		Nine months ended
Operating lease expense	$	52.6	$	152.9
Variable lease expense	8.4		22.8
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	52.2		151.8
Right-of-use assets obtained in exchange for new operating lease liabilities	41.3		165.2

Maturities of Lease Obligations

Maturities of lease obligations were as follows:

In millions	September 30, 2019
Operating leases:
Remaining three months of 2019	$	51.0
2020	180.7
2021	139.5
2022	94.8
2023	65.5
After 2023	96.1
Total lease payments	$	627.6
Less: Interest	(63.9		)
Present value of lease liabilities	$	563.7

Schedule of Future Minimum Operating Lease Commitments

Commitments as of December 31, 2018 were as follows:

In millions	December 31, 2018
Operating leases
2019	$	197.1
2020	152.0
2021	107.4
2022	68.4
2023	42.2
After 2023	42.7
Total	$	609.8