We enter into operating leases for certain real estate, equipment and automobiles. Our leases have remaining lease terms of 1 to 15 years, with several leases including options for us to purchase leased items at fair value or renew for up to 5 years, or multiple 5-year renewal periods, and some of which include options to terminate the lease within 1 year. We have lease agreements with lease and non-lease components, which are accounted for separately. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Short-term leases with an initial term of 12 months or less are not recorded on the balance sheet. We recognize lease expense for these leases on a straight line basis over the lease term. Short-term lease expense was not material for the three months ended March 31, 2019. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. We used the incremental borrowing rate on January 1, 2019 for operating leases that commenced prior to that date. Our lease agreements do not contain any residual value guarantees or material restrictive covenants. As of March 31, 2019, we do not have any financing leases and we have no additional operating leases that have not yet commenced.

As noted in Note 1, effective January 1, 2019, we adopted ASC Topic 842 using the modified retrospective transition method. As such, we did not restate financial statement and lease disclosure data for all periods prior to January 1, 2019, which was prepared in accordance with ASC Topic 840 – Leases.

The following table presents our operating lease cost and supplemental cash flow information related to our operating leases:

	Three Months Ended March 31, 2019
Operating lease cost	$	1.6
Non-cash activity:
ROU assets obtained in exchange for lease obligations	29.2

We do not believe the amount of cash paid for amounts included in the measurement of lease liabilities to be materially different from our operating lease cost for the three months ended March 31, 2019.

The following table presents weighted average assumptions used to compute our ROU assets and lease liabilities:

	March 31, 2019
Weighted average remaining lease term (in years)	7.9
Weighted average discount rate		5.0	%

Undiscounted future minimum lease payments as of March 31, 2019, by year and in the aggregate, having non-cancelable lease terms in excess of one year are as follows:

	Maturities of Lease Liabilities
2019 ⁽¹⁾	$	4.9
2020		6.1
2021		5.0
2022		4.0
2023		3.5
Thereafter		12.0
Total lease payments		35.5
Less interest		(6.7	)
Present value of lease liabilities	$	28.8

Future minimum lease payments as of December 31, 2018, by year and in the aggregate, having non-cancelable lease terms in excess of one year were expected to be as follows:

	Total Minimum Lease payments
2019		5.3
2020		4.7
2021		4.2
2022		3.7
2023		2.2
Thereafter		4.7
Total		24.8