Leases Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost

The following table is a summary of the Company’s components of net lease cost for the years ended December 31, 2020 and 2019:

	Year Ended December 31,
(In millions)	2020		2019
Operating lease costs including variable costs	$	312.1	$	362.4
Short-term lease costs	13.7		20.8
Less: sublease income	7.3		8.9
Net lease cost	$	318.5	$	374.3

Schedule of supplemental cash flow information related to leases

Supplemental cash flow information related to leases for the years ended December 31, 2020 and 2019 is as follows:

	Year Ended December 31,
(In millions)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	314.2	$	384.7
Right-of-use assets obtained in exchange for lease liabilities
Operating leases	$	535.9	$	125.4

Schedule of supplemental balance sheet information related to leases

Supplemental balance sheet information related to leases as of December 31, 2020 and 2019 is as follows:

	December 31,
(In millions, except lease term and discount rate)	2020		2019
Weighted average remaining lease term
Operating leases	11.8 years		7.5 years
Finance leases	0.6 years		$	—
Weighted average discount rate
Operating leases	5.1	%	4.4		%
Finance leases	2.1	%	—		%

Schedule of maturities of operating and finance leases liabilities

Maturities of operating lease liabilities as of December 31, 2020 are as follows:

(In millions)	Operating Leases
2021	$	252.5
2022	191.5
2023	137.1
2024	117.6
2025	79.2
Thereafter	471.4
Total lease payments	1,249.3
Less: Imputed interest (a)	121.3
Total lease liabilities (b)	$	1,128.0

Note: For leases that commenced prior to 2019, minimum lease payments exclude payments to landlords for real estate taxes and common area maintenance.

(a)Calculated using the interest rate for each lease.

(b)Includes the current portion of $247.0 million for operating leases.

Lease revenue

The following table is a summary of components of lease revenue for the years ended December 31, 2020 and 2019:

	Year Ended December 31,
(In millions)	2020		2019
Operating lease revenue including variable revenue	$	142.0	$	266.5

Schedule of maturities of operating and finance leases receivables

The following table is a summary of the maturity analysis of the undiscounted cash flows to be received on an annual basis for each of the first five years, and a total of the amounts for the remaining years:

(In millions)	Operating Leases
2021	$	21.4
2022	14.3
2023	1.0
2024	—
2025	—
Thereafter	—
Total undiscounted cash flows	$	36.7