XML 21 R10.htm IDEA: XBRL DOCUMENT v3.21.2
Leases
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Leases

4. Leases

 

Leases (in millions)

 

June 30, 2021

 

 

December 31, 2020

 

Assets

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

$

219.3

 

 

$

276.0

 

Liabilities

 

 

 

 

 

 

 

 

Current operating lease liabilities

 

$

98.5

 

 

$

114.2

 

Noncurrent operating lease liabilities

 

 

128.7

 

 

 

172.6

 

Total lease liabilities

 

$

227.2

 

 

$

286.8

 

 

 

 

Three Months

 

 

Six Months

 

Lease Cost (in millions)

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Operating lease cost(a)

 

$

34.2

 

 

$

40.4

 

 

$

71.1

 

 

$

83.5

 

Short-term cost(b)

 

 

9.5

 

 

 

2.1

 

 

 

19.1

 

 

4.1

 

Variable lease cost(b)

 

2.6

 

 

1.8

 

 

5.1

 

 

4.2

 

Total lease cost

 

$

46.3

 

 

$

44.3

 

 

$

95.3

 

 

$

91.8

 

 

(a)

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

(b)

These operating expenses are classified and recorded primarily within purchased transportation.

 

 

Remaining Maturities of Lease Liabilities (in millions)

 

 

Operating Leases

 

2021 - remaining portion

 

 

 

$

67.3

 

2022

 

 

 

 

93.9

 

2023

 

 

 

 

53.8

 

2024

 

 

 

 

23.6

 

2025

 

 

 

 

11.3

 

After 2025

 

 

 

 

27.1

 

Total lease payments

 

 

 

$

277.0

 

Less: imputed interest

 

 

 

 

49.8

 

Present value of lease liabilities

 

 

 

$

227.2

 

 

Lease Term and Discount Rate

(years and percent)

 

Weighted-Average Remaining Lease Term

 

 

Weighted-Average Discount Rate

 

Operating leases

 

 

3.2

 

 

11.9%

 

 

 

 

Three Months

 

 

Six Months

 

 

Other Information (in millions)

 

2021

 

2020

 

 

2021

 

2020

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

37.3

 

$

17.5

 

(a)

$

74.5

 

$

55.5

 

(a)

Leased assets obtained in exchange for new operating lease liabilities

 

$

0.3

 

$

6.3

 

 

$

0.9

 

$

10.0

 

 

 

(a)

In an effort to preserve liquidity, certain equipment leases were modified during the three months ended June 30, 2020 to reduce short-term cash payments, which deferred certain operating lease payments into future reporting periods.