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LEASES (Notes) | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
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 $70.7 million and $71.4 million, respectively, as of September 30, 2020. During the nine months ended September 30, 2020, we entered into certain operating leases and recognized operating lease right-of-use assets and lease liabilities with remaining balances of $16.2 million at the end of the period. At September 30, 2020, the weighted-average remaining lease term and the weighted-average discount rate for our operating leases were 8.5 years and 3.19%, respectively. The following table sets forth supplemental cash flow information related to our leases:
|  | Nine Months Ended
|  | September 30,
|  | 2020 |  | 2019
|  | (Thousands of dollars)
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows for operating leases |  | $ | 9,662 |  |  | $ | 4,972 |
Financing cash flows for finance lease |  | $ | 1,443 |  |  | $ | 1,307 |
Right-of-use assets obtained in exchange for operating lease liabilities (noncash) |  | $ | 99,197 |  |  | $ | 3,663 |
The following table sets forth the maturity of our lease liabilities as of September 30, 2020:
|  | Finance Lease |  | Operating Leases
|  | (Millions of dollars)
Remainder of 2020 |  | $ | 1.2 |  |  | $ | 4.1 |
2021 |  | 4.5 |  |  | 16.4 |
2022 |  | 4.5 |  |  | 15.1 |
2023 |  | 4.5 |  |  | 13.8 |
2024 |  | 4.5 |  |  | 12.5 |
2025 and beyond |  | 17.1 |  |  | 58.2 |
Total lease payments |  | 36.3 |  |  | 120.1 |
Less: Interest |  | 11.5 |  |  | 15.6 |
Present value of lease liabilities |  | $ | 24.8 |  |  | $ | 104.5 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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