Sale and Leaseback Transactions

12 Months Ended

Dec. 31, 2017

Sale and Leaseback Transactions [Abstract]

Sale and Leaseback Transactions

SALE AND LEASEBACK TRANSACTIONS

In connection with the disposition of certain real estate in prior years, the Company entered into long-term operating leases. The leases are classified as operating leases and the gains realized on these leases have been deferred and are being credited to income over the initial lease term. Such deferred gains totaled $32.7 million and $35.6 million at December 31, 2017 and 2016, respectively, of which $29.5 million and $32.4 million, respectively, are reflected in the accompanying Consolidated Balance Sheet under Deferred gains, with the remainder included as a component of Other current liabilities.