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LEASES | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
LEASES | LEASES The Company determines whether a contract is, or contains, a lease at inception. ROU assets represent the Company’s right to use an underlying asset during the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at lease commencement based upon the estimated present value of unpaid lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at lease commencement in determining the present value of unpaid lease payments. ROU assets also include any lease payments made at or before lease commencement and any initial direct costs incurred, and exclude any lease incentives received. The Company determines the lease term as the noncancellable period of the lease, and may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Leases with a term of 12 months or less are not recognized on the balance sheet. Certain of the Company’s leases include variable lease payments that are based on costs incurred or actual usage, or adjusted periodically based on an index or a rate. The Company’s leases do not contain any residual value guarantees. The Company accounts for the lease and non-lease components as a single lease component for all of its leases except vehicle leases, for which the lease and non-lease components are accounted for separately. Operating leases are included in “Operating Lease Right-of-Use Assets” and “Operating Lease Liabilities” on the Company’s consolidated condensed balance sheets. The Company leases certain office space, manufacturing facilities, land, apartments, warehouses, vehicles, and equipment with remaining lease terms ranging from less than 1 year to 22 years, some of which include options to extend or terminate the leases. Operating lease costs for the three and six months ended June 30, 2019 were $7.2 million and $13.5 million, respectively. Short-term and variable lease costs were not material for the three and six months ended June 30, 2019. Supplemental balance sheet information related to operating leases was as follows (in millions, except lease term and discount rate):
| June 30, 2019
Operating lease ROU assets | $ | 71.2 |
Operating lease liabilities, current portion | $ | 23.8 |
Operating lease liabilities, long-term portion | 50.4 |
Total operating lease liabilities | $ | 74.2 |
Maturities of operating lease liabilities at June 30, 2019 were as follows (in millions):
2019 | $ | 13.2 |
2020 | 23.4 |
2021 | 15.6 |
2022 | 10.5 |
2023 | 7.6 |
Thereafter | 10.0 |
Total lease payments | 80.3 |
Less: imputed interest | (6.1 | )
Total lease liabilities | $ | 74.2 |
Weighted-average remaining lease term (in years) | 4.5 |
Weighted-average discount rate | 3.0 | %
As of June 30, 2019, the Company had additional operating lease commitments of $8.0 million for office space that have not yet commenced. These leases will commence during 2019 with lease terms of 3 years to 7 years. Disclosures related to periods prior to adopting the new lease guidance Certain facilities and equipment are leased under operating leases expiring at various dates. Most of the operating leases contain renewal options. Total expense for all operating leases was $27.0 million, $27.3 million, and $22.9 million for the years 2018, 2017, and 2016, respectively. Future minimum lease payments (including interest) under non-cancelable operating leases at December 31, 2018 were as follows (in millions):
| Operating Leases
2019 | $ | 25.6 |
2020 | 21.5 |
2021 | 13.5 |
2022 | 9.9 |
2023 | 6.4 |
Thereafter | 14.3 |
Total obligations and commitments | $ | 91.2 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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