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RENTALS AND LEASES (Tables)
12 Months Ended
Dec. 31, 2020
RENTALS AND LEASES  
Schedule of operating lease cost

(millions)

2020

2019

Operating lease cost*

$183.8

$179.8

*Includes immaterial short-term and variable lease costs

Schedule of future maturity of operating lease liabilities

(millions)

2021

 

142

2022

 

110

2023

 

73

2024

 

44

2024

29

Thereafter

 

76

Total lease payments

474

Less: imputed interest

49

Present value of lease liabilities

$ 425

Schedule of operating leases term and discount rate

December 31

December 31

2020

2019

Weighted-average remaining lease terms (years)

5.52

5.83

Weighted-average discount rate

3.72%

4.00%

Schedule of other lease information

December 31

December 31

(millions)

2020

2019

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases

$164.2

$159.0

Leased assets obtained in exchange for new operating lease liabilities

60.4

116.5

Schedule of operating lease revenue

(millions)

2020

2019

Operating lease revenue*

$356.3

$412.7

Schedule of revenue from operating leases for existing contracts

Revenue from operating leases for existing contracts as of December 31, 2020 is as follows:

(millions)

2021

 

331

2022

 

253

2023

 

191

2024

 

122

2024

49

Thereafter

 

14

Total lease revenue

$ 960