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LEASES
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Leases LEASES
The Company leases property and equipment under finance and operating leases. For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of lease payments. Many of the Company's leases include rental escalation clauses, renewal options, and/or termination options that are factored into our determination of lease payments when appropriate. The Company does not separate lease and non-lease components.
As most of the Company's leases do not provide a readily stated discount rate, the Company must estimate our incremental borrowing rate to discount lease payments. The Company has established discount rates by geographic region ranging from 1.0% to 12.3%.
The components of lease expense are as follows:
For the year ended December 31,
In millions20202019
Operating lease expense$57.3 $54.4 
Finance lease expense amortization of leased assets1.2 1.1 
Short-term and variable lease expense0.1 0.6 
Sublease income(0.4)(0.5)
Total$58.2 $55.6 
Scheduled payments of lease liabilities are as follows:
In millionsOperating LeasesFinance
Leases		Total
2021$56.4 $0.4 $56.8 
202250.1 0.2 50.3 
202343.4 0.2 43.6 
202437.9 0.2 38.1 
202532.4 0.1 32.5 
Thereafter103.6 0.1 103.7 
Total lease payments323.81.2325.0 
Less: Present value discount(29.0)— (29.0)
Present value lease liabilities$294.8 $1.2 $296.0 
The following table summarizes the remaining lease term and discount rate assumptions used to develop the present value of lease liabilities:
December 31, 2020December 31, 2019
Weighted-average remaining lease term (years)
Operating leases7.47.0
Finance leases4.55.2
Weighted-average discount rate
Operating leases2.7 %4.6 %
Finance leases1.4 %1.4 %
Leases LEASES
The Company leases property and equipment under finance and operating leases. For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of lease payments. Many of the Company's leases include rental escalation clauses, renewal options, and/or termination options that are factored into our determination of lease payments when appropriate. The Company does not separate lease and non-lease components.
As most of the Company's leases do not provide a readily stated discount rate, the Company must estimate our incremental borrowing rate to discount lease payments. The Company has established discount rates by geographic region ranging from 1.0% to 12.3%.
The components of lease expense are as follows:
For the year ended December 31,
In millions20202019
Operating lease expense$57.3 $54.4 
Finance lease expense amortization of leased assets1.2 1.1 
Short-term and variable lease expense0.1 0.6 
Sublease income(0.4)(0.5)
Total$58.2 $55.6 
Scheduled payments of lease liabilities are as follows:
In millionsOperating LeasesFinance
Leases		Total
2021$56.4 $0.4 $56.8 
202250.1 0.2 50.3 
202343.4 0.2 43.6 
202437.9 0.2 38.1 
202532.4 0.1 32.5 
Thereafter103.6 0.1 103.7 
Total lease payments323.81.2325.0 
Less: Present value discount(29.0)— (29.0)
Present value lease liabilities$294.8 $1.2 $296.0 
The following table summarizes the remaining lease term and discount rate assumptions used to develop the present value of lease liabilities:
December 31, 2020December 31, 2019
Weighted-average remaining lease term (years)
Operating leases7.47.0
Finance leases4.55.2
Weighted-average discount rate
Operating leases2.7 %4.6 %
Finance leases1.4 %1.4 %