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Leases (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Summary of Assets and Liabilities

Leases (in millions)

 

Classification

 

2019

 

Assets

 

 

 

 

 

 

Operating lease assets

 

Operating lease right-of-use assets

 

$

386.0

 

Finance lease assets

 

Net property and equipment

 

 

2.6

 

Total leased assets

 

 

 

$

388.6

 

Liabilities

 

 

 

 

 

 

Current

 

 

 

 

 

 

Operating

 

Current operating lease liabilities

 

$

120.8

 

Finance

 

Other current and accrued liabilities

 

 

0.2

 

Noncurrent

 

 

 

 

 

 

Operating

 

Operating lease liabilities

 

 

246.3

 

Finance

 

Claims and other liabilities

 

 

3.3

 

Total lease liabilities

 

 

 

$

370.6

 

 

Summary of Lease Cost

Lease Cost (in millions)

 

Classification

 

Year Ended December 31, 2019

 

Operating lease cost(a)

 

Purchased transportation; Fuel, operating expenses and supplies

 

$

168.0

 

Short-term cost

 

Purchased transportation; Fuel, operating expenses and supplies

 

14.2

 

Variable lease cost

 

Purchased transportation; Fuel, operating expenses and supplies

 

5.9

 

Finance lease cost

 

 

 

 

 

 

Amortization of leased assets

 

Depreciation and amortization

 

0.4

 

Interest on lease liabilities

 

Interest expense

 

0.5

 

Total lease cost

 

 

 

$

189.0

 

 

(a)

Operating lease cost represent non-cash amortization of ROU assets and accretion of the discounted lease liabilities and is segregated on the statement of consolidated cash flows.

Summary of Remaining Maturities of Lease Liabilities

 

Remaining Maturities of Lease Liabilities

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

2020

 

$

154.4

 

 

$

0.6

 

 

$

155.0

 

2021

 

 

128.9

 

 

 

0.6

 

 

 

129.5

 

2022

 

 

77.8

 

 

 

0.6

 

 

 

78.4

 

2023

 

 

41.1

 

 

 

0.6

 

 

 

41.7

 

2024

 

 

16.3

 

 

 

0.7

 

 

 

17.0

 

After 2024

 

 

32.6

 

 

 

3.4

 

 

 

36.0

 

Total lease payments

 

$

451.1

 

 

$

6.5

 

 

$

457.6

 

Less: Interest

 

 

84.0

 

 

 

3.0

 

 

 

87.0

 

Present value of lease liabilities

 

$

367.1

 

 

$

3.5

 

 

$

370.6

 

 

Summary of Lease Term and Discount Rate

Lease Term and Discount Rate

(years and percent)

 

Weighted-Average Remaining Lease Term

 

 

Weighted-Average Discount Rate

 

Operating leases

 

 

3.7

 

 

11.0%

 

Finance leases

 

 

9.8

 

 

11.3%

 

 

Summary of Supplemental Cash Flow Information

Other Information (in millions)

Year Ended December 31, 2019

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

   Operating cash flows from operating leases

$

154.6

 

   Operating cash flows from finance leases

0.5

 

   Financing cash flows from finance leases

0.3

 

Leased assets obtained in exchange for new operating lease liabilities

$

129.7

 

 

Summary of Contractual Cash Obligation

Below is the Company’s contractual cash obligation table as of December 31, 2018, that disclosed operating lease payments for the next five years and thereafter. We had no material capital leases as of December 31, 2018.

 

 

 

Payments Due by Period

 

(in millions)

 

Total

 

 

Less than 1 year

 

 

1-3 years

 

 

3-5 years

 

 

After 5 years

 

Operating leases

 

$

429.2

 

 

$

138.4

 

 

$

212.0

 

 

$

63.3

 

 

$

15.5