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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | Note 10 – Leases We have non-cancellable operating leases primarily associated with our office facilities, rail assets, land, and storage and terminal assets. We have finance leases primarily associated with our tractors and vehicles. Our leases have remaining lease terms of 1 to 9 years, some of which include options to extend the lease term for up to 20 years. The balances of right-of-use assets and liabilities of finance leases and operating leases, and their locations on our Consolidated Balance Sheets are as follows:
|  |  |  | Year Ended December 31, |
|  | Balance Sheet Location |  | 2020 |  |  | 2019 |
Right-of-use assets |  |  |  |  |  |  |  |  |  |
Operating leases, gross |  | Other long-term assets |  | $ | 52.7 |  |  | $ | 42.0 |
Finance leases, gross |  | Property, plant and equipment |  |  | 51.8 |  |  |  | 48.8 |
Lease liabilities |  |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |
Operating leases |  | Accrued liabilities |  | $ | 12.0 |  |  | $ | 7.8 |
Finance leases |  | Current debt obligations |  |  | 12.1 |  |  |  | 12.2 |
Non-current: |  |  |  |  |  |  |  |  |  |
Operating leases |  | Other long-term liabilities |  | $ | 46.2 |  |  | $ | 47.2 |
Finance leases |  | Long-term debt |  |  | 18.7 |  |  |  | 25.8 |
Operating lease costs and short-term lease costs are included in Operating expenses or General and administrative expense in our Consolidated Statements of Operations, depending on the nature of the leases. Finance lease costs are included in Depreciation and amortization expense and Interest income (expense) in our Consolidated Statements of Operations. The components of lease expense were as follows:
|  |  |  | Year Ended December 31, |
|  |  |  | 2020 |  |  | 2019 |
Lease cost |  |  |  |  |  |  |  |  |  |
Operating lease cost |  |  |  | $ | 11.6 |  |  | $ | 9.9 |
Short-term lease cost |  |  |  |  | 20.7 |  |  |  | 30.0 |
Variable lease cost |  |  |  |  | 5.5 |  |  |  | 6.7 |
Finance lease cost |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  |  |  | 13.6 |  |  |  | 13.1 |
Interest expense |  |  |  |  | 1.4 |  |  |  | 1.6 |
Total lease cost |  |  |  | $ | 52.8 |  |  | $ | 61.3 |
During the year ended December 31, 2018, total operating leases expense incurred was $56.0 million, which includes short-term leases for compressors and equipment. Other supplemental information related to our leases are as follows:
|  |  |  | Year Ended December 31, |
|  |  |  | 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |  |  |
Operating cash flows for operating leases |  |  |  | $ | 12.3 |  |  | $ | 8.7 |
Operating cash flows for finance leases |  |  |  |  | 1.4 |  |  |  | 1.6 |
Financing cash flows for finance leases |  |  |  |  | 12.4 |  |  |  | 11.5 |
The weighted-average remaining lease terms for operating leases and finance leases are 6 years and 3 years, respectively. The weighted-average discount rates for operating leases and finance leases are 4.0% and 3.8%, respectively. The following table presents the maturities of our lease liabilities under non-cancellable leases as of December 31, 2020:
|  | Operating Leases |  |  | Finance Leases |
Future Minimum Lease Payments Beginning After December 31, |  |  |  |  |  |  |  |
2020 |  | $ | 14.1 |  |  | $ | 13.0 |
2021 |  |  | 13.3 |  |  |  | 11.6 |
2022 |  |  | 11.5 |  |  |  | 6.0 |
2023 |  |  | 7.1 |  |  |  | 1.5 |
2024 |  |  | 4.2 |  |  |  | 0.3 |
Thereafter |  |  | 15.5 |  |  |  | — |
Total undiscounted cash flows |  |  | 65.7 |  |  |  | 32.4 |
Less imputed interest |  |  | (7.5 | ) |  |  | (1.6 | )
Total lease liabilities |  | $ | 58.2 |  |  | $ | 30.8 |

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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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