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LEASES (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
The following table sets forth the maturity of our lease liabilities as of December 31, 2021:
Finance
Lease
Operating
Leases
(Millions of dollars)
2022$4.7 $16.4 
20234.7 13.9 
20244.7 12.6 
20255.4 11.2 
20264.5 11.4 
2027 and beyond8.3 36.9 
Total lease payments32.3 102.4 
Less: Interest8.6 13.0 
Present value of lease liabilities$23.7 $89.4 
LeaseAssetsAndLiabilitiesInBalanceSheet [Table Text Block]
The following table sets forth information about our lease assets and liabilities included in our Consolidated Balance Sheet for the periods indicated:
LeasesLocation in our Consolidated
Balance Sheet
December 31, 2021December 31, 2020
 
(Thousands of dollars)
Assets
Operating leasesOther assets$89,558 $100,154 
Finance leaseProperty, plant and equipment29,962 28,286 
Finance leaseAccumulated depreciation(3,590)(2,451)
Total leased assets$115,930 $125,989 
Liabilities
Current
Operating leasesOperating lease liability$13,783 $13,610 
Finance leaseOther current liabilities2,584 2,153 
Noncurrent
Operating leasesOperating lease liability75,636 87,610 
Finance leaseOther deferred credits21,082 22,143 
Total lease liabilities$113,085 $125,516 

The following table sets forth supplemental cash flow information related to our leases:
Years Ended December 31,
20212020
(Thousands of dollars)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$15,690 $13,245 
Financing cash flows for finance lease$2,307 $1,949 
Right-of-use assets obtained in exchange for operating lease liabilities (noncash) (a)$1,150 $99,547 
(a) - 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 $69.0 million and $69.9 million, respectively, as of December 31, 2020.
Lease, Cost [Table Text Block]
The following table sets forth information about our lease costs for the periods indicated:
Years Ended December 31,
Location in our Consolidated
Statement of Income
20212020
(Thousands of dollars)
Operating leasesOperations and maintenance$17,747 $17,162 
Finance lease
Amortization of lease assetsDepreciation and amortization1,139 1,131 
Interest on lease liabilitiesInterest expense2,338 2,537 
Total lease cost$21,224 $20,830 
The following table sets forth information about our leases for the periods indicated:
December 31, 2021December 31, 2020
Weighted average remaining lease term (years)
Operating leases7.88.3
Finance lease6.67.8
Weighted average discount rate (a)
Operating leases3.40%3.20%
Finance lease9.60%10.00%
(a) - Our weighted-average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.
Finance Lease, Liability, Maturity [Table Text Block]
The following table sets forth the maturity of our lease liabilities as of December 31, 2021:
Finance
Lease
Operating
Leases
(Millions of dollars)
2022$4.7 $16.4 
20234.7 13.9 
20244.7 12.6 
20255.4 11.2 
20264.5 11.4 
2027 and beyond8.3 36.9 
Total lease payments32.3 102.4 
Less: Interest8.6 13.0 
Present value of lease liabilities$23.7 $89.4