Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Leases

The components of lease cost under ASC 842 for the year ended December 31, 2019 were (in millions):

Operating lease cost	$	317.8
Variable lease cost	38.2
Short-term lease cost	4.9
Sublease income	(5.1)
Finance lease cost:
Amortization of ROU assets	43.2
Interest	5.1
	48.3
Total lease cost	$	404.1

Rent expense under ASC 840 for the two years ended December 31, 2018 was (in millions):

	Year Ended December 31,
	2018		2017
Office rent	$	295.0	$	336.7
Equipment rent	16.6		20.1
Third-party sublease rent	(7.2)		(6.3)
Total rent cost	$	304.4	$	350.5

The balance sheet classification, weighted average remaining lease term and weighted average discount rate related to our operating and finance leases under ASC 842 at December 31, 2019 were (in millions):

Operating leases:
ROU asset	$	1,398.3
Lease liability:
Other current liabilities	$	290.3
Long-term liability - operating leases	1,274.7
	$	1,565.0
Weighted average remaining lease term (years)	8.2
Weighted average discount rate	3.8		%
Finance leases:
Property and equipment, net	$	138.7
Lease liability:
Other current liabilities	$	46.6
Long-term liabilities	92.1
	$	138.7
Weighted average remaining lease term (years)	3.4
Weighted average discount rate	4.3		%

The maturities of the lease liabilities at December 31, 2019 were (in millions):

	Operating Leases		Finance Leases
2020	$	344.4	$	49.7
2021	289.9		40.2
2022	233.6		28.8
2023	178.7		16.2
2024	155.0		6.8
Thereafter	642.5		3.9
Total lease payments	1,844.1		145.6
Less: Imputed interest	279.1		6.9
Present value of lease liability	$	1,565.0	$	138.7

Assets under capital lease and capital lease obligations under ASC 840 at December 31, 2018 were (in millions):

Assets under capital lease:
Cost	$	258.2
Accumulated depreciation	(133.8)
	$	124.4
Capital lease obligations:
Current	$	38.6
Long-term	88.9
	$	127.5

Amortization expense for assets under capital lease was $36.7 million and $31.1 million in 2018 and 2017, respectively.