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LEASES | 3 Months Ended
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Mar. 31, 2019
Leases [Abstract] |
LEASES | LEASES Lessor Sales-type Leases. Lease receivables relating to sales-type lease arrangements are presented on the Condensed Consolidated Balance Sheets as follows (in millions):
| As of
| March 31, 2019 |  | December 31, 2018
Gross lease receivables | $ | 144.1 |  |  | $ | 150.4 |
Unearned income | (6.0 | ) |  | (6.3 | )
Allowance for credit loss | (1.0 | ) |  | (1.0 | )
Net investment in sales-type leases | $ | 137.1 |  |  | $ | 143.1 |
Reported as: |  |  |
Prepaids and other current assets | $ | 51.8 |  |  | $ | 51.2 |
Intangible and other assets, net | 85.3 |  |  | 91.9 |
Total, net | $ | 137.1 |  |  | $ | 143.1 |
Contractual maturities of gross lease receivables at March 31, 2019, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 37.4 |
2020 | 48.1 |
2021 | 31.3 |
2022 | 16.6 |
2023 | 9.2 |
2024 and thereafter | 1.5 |
Total | $ | 144.1 |
Operating Leases. The Company’s operating lease terms are generally five years or less with its customers. As of March 31, 2019, the maturities of lease payments are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 73.9 |
2020 | 98.2 |
2021 | 80.4 |
2022 | 63.3 |
2023 | 37.7 |
2024 and thereafter | 4.6 |
Total | $ | 358.1 |
Contingent rental revenue relating to operating lease arrangements were not material for the periods presented. Lessee The Company has operating leases for real estate, automobiles, and certain equipment. Operating lease expense was $4.3 million for the three months ended March 31, 2019. Short-term lease expense for the three months ended March 31, 2019, was not material. Supplemental cash flow information, as of March 31, 2019, related to operating leases was as follows (in millions):
Cash paid within operating cash flows | $ | 3.3 |
Right-of-use assets recognized in exchange for new lease obligations | $ | 9.6 |
Supplemental balance sheet information, as of March 31, 2019, related to operating leases was as follows (in millions, except lease term and discount rate):
Reported as: |
Intangible and other assets, net (Right-of-use assets) | $ | 74.2 |
Other accrued liabilities | $ | 5.3 |
Other long-term liabilities | 71.3 |
Total lease liabilities | $ | 76.6 |
Weighted average remaining lease term | 7 years
Weighted average discount rate | 3.6%
As of March 31, 2019, the maturities of the Company’s operating lease liabilities are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 8.9 |
2020 | 11.2 |
2021 | 16.1 |
2022 | 12.1 |
2023 | 11.0 |
2024 and thereafter | 29.1 |
Total lease payments | $ | 88.4 |
Less imputed interest | (11.8 | )
Total operating lease liabilities | $ | 76.6 |
ASC 840 Disclosures The Company elected the alternative modified transition method and included the following tables previously disclosed. Lessor Sales-type Leases. Contractual maturities of gross lease receivables as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 50.8 |
2020 | 46.5 |
2021 | 29.7 |
2022 | 14.9 |
2023 | 7.5 |
2024 and thereafter | 1.0 |
Total | $ | 150.4 |
Operating Leases. Future minimum lease payments related to non-cancellable portion of operating leases as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 88.0 |
2020 | 85.8 |
2021 | 68.8 |
2022 | 51.3 |
2023 | 25.4 |
2024 and thereafter | 1.9 |
Total | $ | 321.2 |
Lessee Operating Leases. Future minimum lease commitments under the Company’s operating leases as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 15.1 |
2020 | 14.5 |
2021 | 12.7 |
2022 | 11.2 |
2023 | 11.0 |
2024 and thereafter | 30.9 |
Total | $ | 95.4 |
LEASES | LEASES Lessor Sales-type Leases. Lease receivables relating to sales-type lease arrangements are presented on the Condensed Consolidated Balance Sheets as follows (in millions):
| As of
| March 31, 2019 |  | December 31, 2018
Gross lease receivables | $ | 144.1 |  |  | $ | 150.4 |
Unearned income | (6.0 | ) |  | (6.3 | )
Allowance for credit loss | (1.0 | ) |  | (1.0 | )
Net investment in sales-type leases | $ | 137.1 |  |  | $ | 143.1 |
Reported as: |  |  |
Prepaids and other current assets | $ | 51.8 |  |  | $ | 51.2 |
Intangible and other assets, net | 85.3 |  |  | 91.9 |
Total, net | $ | 137.1 |  |  | $ | 143.1 |
Contractual maturities of gross lease receivables at March 31, 2019, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 37.4 |
2020 | 48.1 |
2021 | 31.3 |
2022 | 16.6 |
2023 | 9.2 |
2024 and thereafter | 1.5 |
Total | $ | 144.1 |
Operating Leases. The Company’s operating lease terms are generally five years or less with its customers. As of March 31, 2019, the maturities of lease payments are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 73.9 |
2020 | 98.2 |
2021 | 80.4 |
2022 | 63.3 |
2023 | 37.7 |
2024 and thereafter | 4.6 |
Total | $ | 358.1 |
Contingent rental revenue relating to operating lease arrangements were not material for the periods presented. Lessee The Company has operating leases for real estate, automobiles, and certain equipment. Operating lease expense was $4.3 million for the three months ended March 31, 2019. Short-term lease expense for the three months ended March 31, 2019, was not material. Supplemental cash flow information, as of March 31, 2019, related to operating leases was as follows (in millions):
Cash paid within operating cash flows | $ | 3.3 |
Right-of-use assets recognized in exchange for new lease obligations | $ | 9.6 |
Supplemental balance sheet information, as of March 31, 2019, related to operating leases was as follows (in millions, except lease term and discount rate):
Reported as: |
Intangible and other assets, net (Right-of-use assets) | $ | 74.2 |
Other accrued liabilities | $ | 5.3 |
Other long-term liabilities | 71.3 |
Total lease liabilities | $ | 76.6 |
Weighted average remaining lease term | 7 years
Weighted average discount rate | 3.6%
As of March 31, 2019, the maturities of the Company’s operating lease liabilities are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 8.9 |
2020 | 11.2 |
2021 | 16.1 |
2022 | 12.1 |
2023 | 11.0 |
2024 and thereafter | 29.1 |
Total lease payments | $ | 88.4 |
Less imputed interest | (11.8 | )
Total operating lease liabilities | $ | 76.6 |
ASC 840 Disclosures The Company elected the alternative modified transition method and included the following tables previously disclosed. Lessor Sales-type Leases. Contractual maturities of gross lease receivables as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 50.8 |
2020 | 46.5 |
2021 | 29.7 |
2022 | 14.9 |
2023 | 7.5 |
2024 and thereafter | 1.0 |
Total | $ | 150.4 |
Operating Leases. Future minimum lease payments related to non-cancellable portion of operating leases as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 88.0 |
2020 | 85.8 |
2021 | 68.8 |
2022 | 51.3 |
2023 | 25.4 |
2024 and thereafter | 1.9 |
Total | $ | 321.2 |
Lessee Operating Leases. Future minimum lease commitments under the Company’s operating leases as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 15.1 |
2020 | 14.5 |
2021 | 12.7 |
2022 | 11.2 |
2023 | 11.0 |
2024 and thereafter | 30.9 |
Total | $ | 95.4 |
LEASES | LEASES Lessor Sales-type Leases. Lease receivables relating to sales-type lease arrangements are presented on the Condensed Consolidated Balance Sheets as follows (in millions):
| As of
| March 31, 2019 |  | December 31, 2018
Gross lease receivables | $ | 144.1 |  |  | $ | 150.4 |
Unearned income | (6.0 | ) |  | (6.3 | )
Allowance for credit loss | (1.0 | ) |  | (1.0 | )
Net investment in sales-type leases | $ | 137.1 |  |  | $ | 143.1 |
Reported as: |  |  |
Prepaids and other current assets | $ | 51.8 |  |  | $ | 51.2 |
Intangible and other assets, net | 85.3 |  |  | 91.9 |
Total, net | $ | 137.1 |  |  | $ | 143.1 |
Contractual maturities of gross lease receivables at March 31, 2019, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 37.4 |
2020 | 48.1 |
2021 | 31.3 |
2022 | 16.6 |
2023 | 9.2 |
2024 and thereafter | 1.5 |
Total | $ | 144.1 |
Operating Leases. The Company’s operating lease terms are generally five years or less with its customers. As of March 31, 2019, the maturities of lease payments are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 73.9 |
2020 | 98.2 |
2021 | 80.4 |
2022 | 63.3 |
2023 | 37.7 |
2024 and thereafter | 4.6 |
Total | $ | 358.1 |
Contingent rental revenue relating to operating lease arrangements were not material for the periods presented. Lessee The Company has operating leases for real estate, automobiles, and certain equipment. Operating lease expense was $4.3 million for the three months ended March 31, 2019. Short-term lease expense for the three months ended March 31, 2019, was not material. Supplemental cash flow information, as of March 31, 2019, related to operating leases was as follows (in millions):
Cash paid within operating cash flows | $ | 3.3 |
Right-of-use assets recognized in exchange for new lease obligations | $ | 9.6 |
Supplemental balance sheet information, as of March 31, 2019, related to operating leases was as follows (in millions, except lease term and discount rate):
Reported as: |
Intangible and other assets, net (Right-of-use assets) | $ | 74.2 |
Other accrued liabilities | $ | 5.3 |
Other long-term liabilities | 71.3 |
Total lease liabilities | $ | 76.6 |
Weighted average remaining lease term | 7 years
Weighted average discount rate | 3.6%
As of March 31, 2019, the maturities of the Company’s operating lease liabilities are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 8.9 |
2020 | 11.2 |
2021 | 16.1 |
2022 | 12.1 |
2023 | 11.0 |
2024 and thereafter | 29.1 |
Total lease payments | $ | 88.4 |
Less imputed interest | (11.8 | )
Total operating lease liabilities | $ | 76.6 |
ASC 840 Disclosures The Company elected the alternative modified transition method and included the following tables previously disclosed. Lessor Sales-type Leases. Contractual maturities of gross lease receivables as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 50.8 |
2020 | 46.5 |
2021 | 29.7 |
2022 | 14.9 |
2023 | 7.5 |
2024 and thereafter | 1.0 |
Total | $ | 150.4 |
Operating Leases. Future minimum lease payments related to non-cancellable portion of operating leases as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 88.0 |
2020 | 85.8 |
2021 | 68.8 |
2022 | 51.3 |
2023 | 25.4 |
2024 and thereafter | 1.9 |
Total | $ | 321.2 |
Lessee Operating Leases. Future minimum lease commitments under the Company’s operating leases as of December 31, 2018, are as follows (in millions):
Fiscal Year | Amount
2019 | $ | 15.1 |
2020 | 14.5 |
2021 | 12.7 |
2022 | 11.2 |
2023 | 11.0 |
2024 and thereafter | 30.9 |
Total | $ | 95.4 |

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