Leasing (Tables)

12 Months Ended

Dec. 31, 2020

Lease cost consists of the following:


	Twelve Months Ended
	December 31,
	2020		2019
	(in millions)
Finance lease cost
Amortization of right-of-use assets	$	1.8	$	1.0
Interest on lease liabilities	0.4		0.3
Total finance lease cost	2.2		1.3

Operating lease cost	32.7		28.9
Short-term lease cost	3.0		5.9
Variable lease cost	2.9		7.2

Total lease cost	$	40.8	$	43.3

The following table summarizes additional information related to our lease agreements.


	Twelve Months Ended
	December 31,
	2020			2019
	(in millions, except lease term and rate)

Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from finance leases	$	0.3		$	0.3
Operating cash flows from operating leases	35.1			29.0
Financing cash flows from finance leases	3.0			1.0

Weighted-average remaining lease term - finance leases	15.8 years			2.8 years
Weighted-average remaining lease term - operating leases	8.7 years			9.2 years

Weighted-average discount rate - finance leases	4.2		%	5.1		%
Weighted-average discount rate - operating leases	5.7		%	6.1		%

Future undiscounted minimum payments under non-cancelable leases are as follows:


	Finance Leases		Operating Leases
	(in millions)
2021	$	3.9	$	27.9
2022	3.1		23.8
2023	1.6		17.3
2024	1.1		12.8
2025	1.1		10.4
Thereafter	18.4		57.4
Total future undiscounted minimum lease payments	29.2		149.6
Less: Impact of discounting	(7.6)		(32.6)
Total	$	21.6	$	117.0

The right-of-use assets and lease liabilities recorded on our Consolidated Balance Sheets are as follows:


	December 31, 2020				December 31, 2019
	Finance Leases		Operating Leases		Finance Leases		Operating Leases
	(in millions)				(in millions)
Property, plant and equipment, net	$	24.9	$	—	$	7.3	$	—
Operating lease right-of-use assets	—		116.6		—		118.5
Total	$	24.9	$	116.6	$	7.3	$	118.5

Current portion of operating lease liabilities	$	—	$	22.6	$	—	$	21.8
Accrued expenses and other	3.3		—		3.3		—
Long-term portion of operating lease liabilities	—		94.4		—		96.7
Postretirement benefits and other long-term liabilities	18.3		—		4.0		—
Total	$	21.6	$	117.0	$	7.3	$	118.5