LEASES (Notes)

6 Months Ended

Jun. 30, 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 $72.3 million and $72.8 million, respectively, as of June 30, 2020. During the six months ended June 30, 2020, we entered into certain operating leases and recognized operating lease right-of-use assets and lease liabilities with remaining balances of $16.6 million at the end of the period. At June 30, 2020, the weighted-average remaining lease term and the weighted-average discount rate for our operating leases were 8.7 years and 3.18%, respectively.

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



	Six Months Ended
	June 30,
	2020		2019
	(Thousands of dollars)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	6,150	$	3,300
Financing cash flows for finance lease	$	950	$	860
Right-of-use assets obtained in exchange for operating lease liabilities (noncash)	$	98,134	$	3,041

The following table sets forth the maturity of our lease liabilities as of June 30, 2020:



	Finance Lease		Operating Leases
	(Millions of dollars)
Remainder of 2020	$	2.3	$	8.3
2021	4.5		16.4
2022	4.5		15.0
2023	4.5		13.8
2024	4.5		12.5
2025 and beyond	17.1		57.9
Total lease payments	37.4		123.9
Less: Interest	12.1		16.6
Present value of lease liabilities	$	25.3	$	107.3