Leases (Notes)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

LEASES

    The balance sheet locations of our lease assets and liabilities were as follows (in millions):

Assets	Balance Sheet Location	December 31, 2020		December 31, 2019
Operating	Operating lease assets	$	186.0	$	129.9
Finance	Other non-current assets	31.0		27.6
Total		$	217.0	$	157.5

Liabilities	Balance Sheet Location	December 31, 2020		December 31, 2019
Current
Operating	Other accrued liabilities	$	34.0	$	32.0
Finance	Current indebtedness	7.2		3.4
Non-Current
Operating	Other non-current liabilities	159.3		101.7
Finance	Long-term debt, less current portion	20.8		21.1
Total		$	221.3	$	158.2

The below table shows our lease assets and liabilities by reporting segment (in millions):

	Assets								Liabilities
	Operating				Financing				Operating				Financing
	December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019
CSCA	$	22.8	$	22.4	$	16.7	$	16.8	$	23.2	$	22.8	$	17.0	$	16.6
CSCI	34.4		41.6		5.9		5.8		35.2		42.4		2.5		2.9
RX	84.4		35.1		1.2		0.8		85.1		36.3		1.1		0.8
Unallocated	44.4		30.8		7.2		4.2		49.8		32.2		7.4		4.2
Total	$	186.0	$	129.9	$	31.0	$	27.6	$	193.3	$	133.7	$	28.0	$	24.5

Lease expense was as follows (in millions):

	Year Ended
	December 31, 2020		December 31, 2019
Operating leases(1)	$	43.4	$	43.7
Finance leases
Amortization	$	4.8	$	3.2
Interest	0.8		0.6
Total finance leases	$	5.6	$	3.8

            (1) Includes short-term leases and variable lease costs, which are immaterial.

    Total operating lease expense for the year ended December 31, 2018 was $51.2 million.

    The annual future maturities of our leases as of December 31, 2020 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2021	$	40.0	$	7.8	$	47.8
2022	31.3		5.0		36.3
2023	23.2		3.1		26.3
2024	19.9		1.7		21.6
2025	17.9		1.5		19.4
After 2025	92.0		13.2		105.2
Total lease payments	224.3		32.3		256.6
Less: Interest	31.0		4.3		35.3
Present value of lease liabilities	$	193.3	$	28.0	$	221.3

`

    Our weighted average lease terms and discount rates are as follows:

	December 31, 2020		December 31, 2019
Weighted-average remaining lease term (in years)
Operating leases	10.00		6.56
Finance leases	8.56		10.33
Weighted-average discount rate
Operating leases	3.24	%	4.11	%
Finance leases	3.05	%	3.47	%

    Our lease cash flow classifications are as follows (in millions):

	Year Ended
	December 31, 2020		December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	41.9	$	43.9
Operating cash flows for finance leases	$	0.8	$	0.6
Financing cash flows for finance leases	$	4.4	$	3.0
Leased assets obtained in exchange for new finance lease liabilities	$	7.6	$	20.2
Leased assets obtained in exchange for new operating lease liabilities	$	86.9	$	10.3

Leases

LEASES

    The balance sheet locations of our lease assets and liabilities were as follows (in millions):

Assets	Balance Sheet Location	December 31, 2020		December 31, 2019
Operating	Operating lease assets	$	186.0	$	129.9
Finance	Other non-current assets	31.0		27.6
Total		$	217.0	$	157.5

Liabilities	Balance Sheet Location	December 31, 2020		December 31, 2019
Current
Operating	Other accrued liabilities	$	34.0	$	32.0
Finance	Current indebtedness	7.2		3.4
Non-Current
Operating	Other non-current liabilities	159.3		101.7
Finance	Long-term debt, less current portion	20.8		21.1
Total		$	221.3	$	158.2

The below table shows our lease assets and liabilities by reporting segment (in millions):

	Assets								Liabilities
	Operating				Financing				Operating				Financing
	December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019
CSCA	$	22.8	$	22.4	$	16.7	$	16.8	$	23.2	$	22.8	$	17.0	$	16.6
CSCI	34.4		41.6		5.9		5.8		35.2		42.4		2.5		2.9
RX	84.4		35.1		1.2		0.8		85.1		36.3		1.1		0.8
Unallocated	44.4		30.8		7.2		4.2		49.8		32.2		7.4		4.2
Total	$	186.0	$	129.9	$	31.0	$	27.6	$	193.3	$	133.7	$	28.0	$	24.5

Lease expense was as follows (in millions):

	Year Ended
	December 31, 2020		December 31, 2019
Operating leases(1)	$	43.4	$	43.7
Finance leases
Amortization	$	4.8	$	3.2
Interest	0.8		0.6
Total finance leases	$	5.6	$	3.8

            (1) Includes short-term leases and variable lease costs, which are immaterial.

    Total operating lease expense for the year ended December 31, 2018 was $51.2 million.

    The annual future maturities of our leases as of December 31, 2020 are as follows (in millions):

	Operating Leases		Finance Leases		Total
2021	$	40.0	$	7.8	$	47.8
2022	31.3		5.0		36.3
2023	23.2		3.1		26.3
2024	19.9		1.7		21.6
2025	17.9		1.5		19.4
After 2025	92.0		13.2		105.2
Total lease payments	224.3		32.3		256.6
Less: Interest	31.0		4.3		35.3
Present value of lease liabilities	$	193.3	$	28.0	$	221.3

`

    Our weighted average lease terms and discount rates are as follows:

	December 31, 2020		December 31, 2019
Weighted-average remaining lease term (in years)
Operating leases	10.00		6.56
Finance leases	8.56		10.33
Weighted-average discount rate
Operating leases	3.24	%	4.11	%
Finance leases	3.05	%	3.47	%

    Our lease cash flow classifications are as follows (in millions):

	Year Ended
	December 31, 2020		December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	41.9	$	43.9
Operating cash flows for finance leases	$	0.8	$	0.6
Financing cash flows for finance leases	$	4.4	$	3.0
Leased assets obtained in exchange for new finance lease liabilities	$	7.6	$	20.2
Leased assets obtained in exchange for new operating lease liabilities	$	86.9	$	10.3