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Leases Leases
9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Leases of Lessee Disclosure
Leases
We lease real estate, vehicles, and equipment under operating and finance leases with non-cancelable terms generally expiring at various dates through 2037. Our operating and finance leases generally have 1- to 25-year terms, with one or more renewal options, primarily relating to our real estate leases, with terms to be determined at the time of renewal. The exercise of such lease renewal options is at our sole discretion, and to the extent we are reasonably certain we will exercise a renewal option, the years related to that option are included in our determination of the lease term for purposes of classifying and measuring a given lease. Certain leases also include options to purchase the leased property.
The components of lease costs are as follows (in millions):
 
 
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
Operating lease cost
 
$
19.0

 
$
54.8

Finance lease cost:
 
 
 
 
Amortization of right-of-use assets
 
7.5

 
22.7

Interest on lease liabilities
 
7.2

 
22.0

Total finance lease cost
 
14.7

 
44.7

Short-term and variable lease cost
 
0.8

 
1.2

Sublease income
 
(0.9
)
 
(2.4
)
Total lease cost
 
$
33.6

 
$
98.3


Supplemental condensed consolidated balance sheet information related to leases is as follows (in millions):
 
 
Classification
 
As of September 30, 2019
Assets
 
 
 
 
Operating lease
 
Operating lease right-of-use assets
 
$
311.4

Finance lease (1)
 
Property and equipment, net
 
316.0

Total leased assets
 
 
 
$
627.4

 
 
 
 
 
Liabilities
 
 
 


Current liabilities:
 
 
 
 
Operating lease
 
Current operating lease liabilities
 
$
44.9

Finance lease
 
Current portion of long-term debt
 
19.0

Noncurrent liabilities:
 
 
 
 
Operating lease
 
Long-term operating lease liabilities
 
273.4

Finance lease
 
Long-term debt, net of current portion
 
344.8

Total leased liabilities
 
 
 
$
682.1

(1) 
Finance lease assets are recorded net of accumulated amortization of $91.7 million as of September 30, 2019.
 
 
As of September 30, 2019
Weighted Average Remaining Lease Term
 
 
Operating lease
 
8.8 years

Finance lease
 
13.8 years

Weighted Average Discount Rate
 
 
Operating lease
 
6.0
%
Finance lease
 
8.1
%

Maturities of lease liabilities as of September 30, 2019 are as follows (in millions):
 
 
Operating Leases
 
Finance
Leases
October 1 through December 31, 2019
 
$
13.1

 
$
11.7

2020
 
64.4

 
47.6

2021
 
56.5

 
45.6

2022
 
48.4

 
42.1

2023
 
43.8

 
41.8

2024
 
37.6

 
41.2

2025 and Thereafter
 
162.6

 
391.5

Total lease payments
 
426.4

 
621.5

Less: Interest portion
 
(108.1
)
 
(257.7
)
Total lease liabilities
 
$
318.3

 
$
363.8


Future minimum lease payments at December 31, 2018, for those leases having an initial or remaining noncancelable lease term in excess of one year, are as follows (in millions):
Year Ending December 31,
 
Operating Leases
 
Capital Lease Obligations
2019
 
$
71.4

 
$
36.2

2020
 
65.8

 
32.3

2021
 
54.3

 
30.3

2022
 
41.0

 
28.7

2023
 
35.3

 
28.0

2024 and Thereafter
 
148.2

 
299.7

 
 
$
416.0

 
455.2

Less: Interest portion
 
 

 
(191.4
)
Obligations under capital leases
 
 

 
$
263.8


Supplemental cash flow information related to our leases is as follows (in millions):
 
 
Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
 
 
Operating cash flows from operating leases
 
$
54.4

Operating cash flows from finance leases
 
22.2

Financing cash flows from finance leases
 
14.2

 
 
 
Right-of-use assets obtained in exchange for lease obligations:
 
 
Operating leases
 
$
55.4

Finance leases
 
8.6