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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | LEASES Lessor Information related to Intuitive System Leasing Sales-type Leases. Lease receivables relating to sales-type lease arrangements are presented on the Consolidated Balance Sheets as follows (in millions):
| December 31,
| 2020 |  | 2019
Gross lease receivables | $ | 286.1 |  |  | $ | 191.9 |
Unearned income | (11.1) |  |  | (10.1) |
Subtotal | $ | 275.0 |  |  | $ | 181.8 |
Allowance for credit loss | (4.4) |  |  | (1.2) |
Net investment in sales-type leases | $ | 270.6 |  |  | $ | 180.6 |
Reported as: |  |  |
Prepaids and other current assets | $ | 81.1 |  |  | $ | 63.1 |
Intangible and other assets, net | 189.5 |  |  | 117.5 |
Total, net | $ | 270.6 |  |  | $ | 180.6 |
Contractual maturities of gross lease receivables as of December 31, 2020, are as follows (in millions):
Fiscal Year | Amount
2021 | $ | 82.7 |
2022 | 71.1 |
2023 | 55.5 |
2024 | 46.3 |
2025 | 27.3 |
2026 and thereafter | 3.2 |
Total | $ | 286.1 |
Operating Leases. The Company’s operating lease terms are generally less than seven years. Future minimum lease payments related to the non-cancellable portion of operating leases (which excludes contingent payments related to usage-based arrangements) as of December 31, 2020, are as follows (in millions):
Fiscal Year | Amount
2021 | $ | 187.4 |
2022 | 177.3 |
2023 | 145.9 |
2024 | 97.7 |
2025 | 45.2 |
2026 and thereafter | 14.7 |
Total | $ | 668.2 |
Variable lease revenue relating to usage-based arrangements was not material for the years ended December 31, 2020, 2019, and 2018. Lessee Information The Company enters into operating leases for real estate, automobiles, and certain equipment. Operating lease expense was $21.0 million for the year ended December 31, 2020. For leases with terms of 12 months or less, the related expense for the year ended December 31, 2020 was not material. Supplemental cash flow information for the year ended December 31, 2020, related to operating leases was as follows (in millions):
| Amount |  |  |
Cash paid for leases that were included within operating cash outflows | $ | 11.0 |  |  |  |
Right-of-use assets recognized related to new lease obligations | $ | 9.6 |  |  |  |
Supplemental balance sheet information, as of December 31, 2020, related to operating leases was as follows (in millions, except lease term and discount rate):
Reported as: | Amount |  |  |
Intangible and other assets, net (Right-of-use assets) | $ | 63.9 |  |  |  |
Other accrued liabilities | $ | 21.9 |  |  |  |
Other long-term liabilities | 58.0 |  |  |  |
Total lease liabilities | $ | 79.9 |  |  |  |
Weighted average remaining lease term | 5.3 years |  |  |
Weighted average discount rate | 3.2 | % |  |  |
As of December 31, 2020, the future payments related to the Company's operating lease liabilities are scheduled as follows (in millions):
Fiscal Year | Amount |  |  |
2021 | $ | 22.7 |  |  |  |
2022 | 17.7 |  |  |  |
2023 | 14.8 |  |  |  |
2024 | 9.9 |  |  |  |
2025 | 8.7 |  |  |  |
2026 and thereafter | 15.0 |  |  |  |
Total lease payments | $ | 88.8 |  |  |  |
Less imputed interest | (8.9) |  |  |  |
Total operating lease liabilities | $ | 79.9 |  |  |  |
Leases | LEASES Lessor Information related to Intuitive System Leasing Sales-type Leases. Lease receivables relating to sales-type lease arrangements are presented on the Consolidated Balance Sheets as follows (in millions):
| December 31,
| 2020 |  | 2019
Gross lease receivables | $ | 286.1 |  |  | $ | 191.9 |
Unearned income | (11.1) |  |  | (10.1) |
Subtotal | $ | 275.0 |  |  | $ | 181.8 |
Allowance for credit loss | (4.4) |  |  | (1.2) |
Net investment in sales-type leases | $ | 270.6 |  |  | $ | 180.6 |
Reported as: |  |  |
Prepaids and other current assets | $ | 81.1 |  |  | $ | 63.1 |
Intangible and other assets, net | 189.5 |  |  | 117.5 |
Total, net | $ | 270.6 |  |  | $ | 180.6 |
Contractual maturities of gross lease receivables as of December 31, 2020, are as follows (in millions):
Fiscal Year | Amount
2021 | $ | 82.7 |
2022 | 71.1 |
2023 | 55.5 |
2024 | 46.3 |
2025 | 27.3 |
2026 and thereafter | 3.2 |
Total | $ | 286.1 |
Operating Leases. The Company’s operating lease terms are generally less than seven years. Future minimum lease payments related to the non-cancellable portion of operating leases (which excludes contingent payments related to usage-based arrangements) as of December 31, 2020, are as follows (in millions):
Fiscal Year | Amount
2021 | $ | 187.4 |
2022 | 177.3 |
2023 | 145.9 |
2024 | 97.7 |
2025 | 45.2 |
2026 and thereafter | 14.7 |
Total | $ | 668.2 |
Variable lease revenue relating to usage-based arrangements was not material for the years ended December 31, 2020, 2019, and 2018. Lessee Information The Company enters into operating leases for real estate, automobiles, and certain equipment. Operating lease expense was $21.0 million for the year ended December 31, 2020. For leases with terms of 12 months or less, the related expense for the year ended December 31, 2020 was not material. Supplemental cash flow information for the year ended December 31, 2020, related to operating leases was as follows (in millions):
| Amount |  |  |
Cash paid for leases that were included within operating cash outflows | $ | 11.0 |  |  |  |
Right-of-use assets recognized related to new lease obligations | $ | 9.6 |  |  |  |
Supplemental balance sheet information, as of December 31, 2020, related to operating leases was as follows (in millions, except lease term and discount rate):
Reported as: | Amount |  |  |
Intangible and other assets, net (Right-of-use assets) | $ | 63.9 |  |  |  |
Other accrued liabilities | $ | 21.9 |  |  |  |
Other long-term liabilities | 58.0 |  |  |  |
Total lease liabilities | $ | 79.9 |  |  |  |
Weighted average remaining lease term | 5.3 years |  |  |
Weighted average discount rate | 3.2 | % |  |  |
As of December 31, 2020, the future payments related to the Company's operating lease liabilities are scheduled as follows (in millions):
Fiscal Year | Amount |  |  |
2021 | $ | 22.7 |  |  |  |
2022 | 17.7 |  |  |  |
2023 | 14.8 |  |  |  |
2024 | 9.9 |  |  |  |
2025 | 8.7 |  |  |  |
2026 and thereafter | 15.0 |  |  |  |
Total lease payments | $ | 88.8 |  |  |  |
Less imputed interest | (8.9) |  |  |  |
Total operating lease liabilities | $ | 79.9 |  |  |  |
Leases | LEASES Lessor Information related to Intuitive System Leasing Sales-type Leases. Lease receivables relating to sales-type lease arrangements are presented on the Consolidated Balance Sheets as follows (in millions):
| December 31,
| 2020 |  | 2019
Gross lease receivables | $ | 286.1 |  |  | $ | 191.9 |
Unearned income | (11.1) |  |  | (10.1) |
Subtotal | $ | 275.0 |  |  | $ | 181.8 |
Allowance for credit loss | (4.4) |  |  | (1.2) |
Net investment in sales-type leases | $ | 270.6 |  |  | $ | 180.6 |
Reported as: |  |  |
Prepaids and other current assets | $ | 81.1 |  |  | $ | 63.1 |
Intangible and other assets, net | 189.5 |  |  | 117.5 |
Total, net | $ | 270.6 |  |  | $ | 180.6 |
Contractual maturities of gross lease receivables as of December 31, 2020, are as follows (in millions):
Fiscal Year | Amount
2021 | $ | 82.7 |
2022 | 71.1 |
2023 | 55.5 |
2024 | 46.3 |
2025 | 27.3 |
2026 and thereafter | 3.2 |
Total | $ | 286.1 |
Operating Leases. The Company’s operating lease terms are generally less than seven years. Future minimum lease payments related to the non-cancellable portion of operating leases (which excludes contingent payments related to usage-based arrangements) as of December 31, 2020, are as follows (in millions):
Fiscal Year | Amount
2021 | $ | 187.4 |
2022 | 177.3 |
2023 | 145.9 |
2024 | 97.7 |
2025 | 45.2 |
2026 and thereafter | 14.7 |
Total | $ | 668.2 |
Variable lease revenue relating to usage-based arrangements was not material for the years ended December 31, 2020, 2019, and 2018. Lessee Information The Company enters into operating leases for real estate, automobiles, and certain equipment. Operating lease expense was $21.0 million for the year ended December 31, 2020. For leases with terms of 12 months or less, the related expense for the year ended December 31, 2020 was not material. Supplemental cash flow information for the year ended December 31, 2020, related to operating leases was as follows (in millions):
| Amount |  |  |
Cash paid for leases that were included within operating cash outflows | $ | 11.0 |  |  |  |
Right-of-use assets recognized related to new lease obligations | $ | 9.6 |  |  |  |
Supplemental balance sheet information, as of December 31, 2020, related to operating leases was as follows (in millions, except lease term and discount rate):
Reported as: | Amount |  |  |
Intangible and other assets, net (Right-of-use assets) | $ | 63.9 |  |  |  |
Other accrued liabilities | $ | 21.9 |  |  |  |
Other long-term liabilities | 58.0 |  |  |  |
Total lease liabilities | $ | 79.9 |  |  |  |
Weighted average remaining lease term | 5.3 years |  |  |
Weighted average discount rate | 3.2 | % |  |  |
As of December 31, 2020, the future payments related to the Company's operating lease liabilities are scheduled as follows (in millions):
Fiscal Year | Amount |  |  |
2021 | $ | 22.7 |  |  |  |
2022 | 17.7 |  |  |  |
2023 | 14.8 |  |  |  |
2024 | 9.9 |  |  |  |
2025 | 8.7 |  |  |  |
2026 and thereafter | 15.0 |  |  |  |
Total lease payments | $ | 88.8 |  |  |  |
Less imputed interest | (8.9) |  |  |  |
Total operating lease liabilities | $ | 79.9 |  |  |  |

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