Leases (Tables)

3 Months Ended

Feb. 29, 2020

Leases [Abstract]

Lease Cost

The components of lease expense for the three months ended February 29, 2020 were as follows (in millions):

Operating lease cost	$	10.1
Finance lease cost:
Amortization of ROU assets	2.2
Interest on lease liabilities	1.1
Net lease cost (1)	$	13.4
(1) Net lease cost does not include short-term leases, variable lease costs or sublease income, all of which are immaterial.

Supplemental cash flow and other information related to leases for the three months ended February 29, 2020 were as follows (in million):

Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows used for operating leases	$	10.0
Operating cash flows used for finance leases	1.1
Financing cash flows used for finance leases	1.7
ROU assets obtained in exchange for lease liabilities
Operating leases	$	1.3

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases as of February 29, 2020 were as follows (in millions):

Leases	Classification
Assets
Operating lease ROU assets	Other long-term assets	$	128.5
Finance lease ROU assets	Property, plant and equipment, net	127.5
Total leased assets		$	256.0
Liabilities
Current
Operating	Other accrued liabilities	$	34.2
Finance	Current portion of long-term debt	7.2
Non-current
Operating	Other long-term liabilities	97.8
Finance	Long-term debt	130.7
Total lease liabilities		$	269.9

Information regarding our lease terms and discount rates as of February 29, 2020 were as follows:

	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	5.8	2.2	%
Finance leases	14.7	3.3	%

Lease Maturity

The future maturity of our lease liabilities as of February 29, 2020 were as follows (in millions):

	Operating leases		Finance leases		Total
2020 (remainder of year)	$	28.4	$	8.5	$	36.9
2021	31.6		11.4		43.0
2022	23.2		11.4		34.6
2023	17.2		11.4		28.6
2024	10.9		11.5		22.4
Thereafter	33.8		125.9		159.7
Total lease payments	145.1		180.1		325.2
Less: Imputed interest	13.1		42.2		55.3
Total lease liabilities	$	132.0	$	137.9	$	269.9

Lease Maturity

The future maturity of our lease liabilities as of February 29, 2020 were as follows (in millions):

	Operating leases		Finance leases		Total
2020 (remainder of year)	$	28.4	$	8.5	$	36.9
2021	31.6		11.4		43.0
2022	23.2		11.4		34.6
2023	17.2		11.4		28.6
2024	10.9		11.5		22.4
Thereafter	33.8		125.9		159.7
Total lease payments	145.1		180.1		325.2
Less: Imputed interest	13.1		42.2		55.3
Total lease liabilities	$	132.0	$	137.9	$	269.9