Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Lease Terms and Discount Rates

The following table presents lease terms and discount rates as of December 31, 2020:

	Finance Leases			Operating Leases
Weighted-average lease term (in years)		4.8			9.2
Weighted-average discount rate		3.9	%		5.4	%

Schedule of Lease Assets and Lease Liabilities

The following table summarizes the classification of lease assets and lease liabilities on our Consolidated Balance Sheets (in millions of dollars):

		As of December 31,
Leases	Classification	2020		2019
Assets
Operating lease assets	Operating lease assets	$	26.5	$	25.8
Finance lease assets	Property, plant and equipment, net		8.1		6.6
Total lease assets		$	34.6	$	32.4
Liabilities
Current:
Operating lease liabilities	Other accrued liabilities	$	4.4	$	3.9
Finance lease liabilities	Other accrued liabilities		1.9		1.2
Non-current:
Operating lease liabilities	Long-term portion of operating lease liabilities		25.6		25.2
Finance lease liabilities	Long-term liabilities		6.2		5.4
Total lease liabilities		$	38.1	$	35.7

Components of Lease Cost

The following table summarizes the components of lease cost on our Statements of Consolidated Income (in millions of dollars):

	Year Ended December 31,
	2020		2019
Operating lease cost	$	6.8	$	7.5
Short-term lease cost		1.6		1.2
Finance lease cost:
Amortization of leased assets		1.6		1.5
Interest on lease liabilities		0.3		0.3
Total lease cost	$	10.3	$	10.5

Schedule of Maturity of Our Lease Liabilities

The following table presents the maturity of our lease liabilities as of December 31, 2020 (in millions of dollars):

Maturity of Lease Liabilities	Finance Leases			Operating Leases
2021	$	2.2		$	5.9
2022		2.0			5.0
2023		1.7			4.6
2024		1.2			4.2
2025		1.0			2.3
Thereafter		0.8			16.9
Total minimum lease payments	$	8.9		$	38.9
Less: interest		(0.8	)		(8.9	)
Present value	$	8.1		$	30.0