LEASES (Notes)

3 Months Ended

Mar. 31, 2020

Leases of Lessee Disclosure [Text Block]

LEASES

In December 2019, we entered into an operating lease for pipeline capacity with a lease term of 10 years that commenced January 1, 2020. In connection with this lease, we recognized an operating lease right-of-use asset and a lease liability with remaining balances of $74.0 million and $74.2 million, respectively, as of March 31, 2020. During the three months ended March 31, 2020, we entered into certain operating leases and recognized operating lease right-of-use assets and lease liabilities with remaining balances of $17.2 million at the end of the period. At March 31, 2020, the weighted-average remaining lease term and the weighted-average discount rate for our operating leases were 8.8 years and 3.15%, respectively.

The following table sets forth information about our supplemental cash flows related to our leases:



	Three Months Ended
	March 31,
	2020		2019
	(Thousands of dollars)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	2,840	$	1,519
Financing cash flows for finance lease	$	469	$	425
Right-of-use assets obtained in exchange for operating lease liabilities (noncash)	$	97,339	$	380

The following table sets forth the maturity of our lease liabilities as of March 31, 2020:



	Finance Lease		Operating Leases
	(Millions of dollars)
Remainder of 2020	$	3.4	$	12.4
2021	4.5		16.3
2022	4.5		14.9
2023	4.5		13.7
2024	4.5		12.4
2025 and beyond	17.1		57.0
Total lease payments	38.5		126.7
Less: Interest	12.7		16.8
Present value of lease liabilities	$	25.8	$	109.9