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Leases (Tables)

9 Months Ended

Aug. 31, 2020

The following table presents the components of our lease expense (in millions):


	Three months ended August 31, 2020		Nine months ended August 31, 2020
Operating lease cost	$	9.7	$	30.3
Finance lease cost:
Amortization of ROU assets	2.2		6.7
Interest on lease liabilities	1.1		3.4
Net lease cost ⁽¹⁾	$	13.0	$	40.4

(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 nine months ended August 31, 2020 were as follows (in million):



Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows used for operating leases	$	30.4
Operating cash flows used for finance leases	3.4
Financing cash flows used for finance leases	5.1

ROU assets obtained in exchange for lease liabilities
Operating leases	$	8.7

Supplemental balance sheet information related to leases as of August 31, 2020 were as follows (in millions):

Leases

Classification

Assets

Operating lease ROU assets

Other long-term assets

121.3

Finance lease ROU assets

Property, plant and equipment, net

124.3

Total leased assets

245.6

Liabilities

Current

Operating

Other accrued liabilities

33.6

Finance

Current portion of long-term debt

7.3

Non-current

Operating

Other long-term liabilities

91.4

Finance

Long-term debt

127.3

Total lease liabilities

259.6

Information regarding our lease terms and discount rates as of August 31, 2020 were as follows:


	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	5.7	2.1	%
Finance leases	14.3	3.3	%

The future maturity of our lease liabilities as of August 31, 2020 were as follows (in millions):

The future maturity of our lease liabilities as of August 31, 2020 were as follows (in millions):