Leases And Other Commitments (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Maturity of Operating Lease Liabilities

As of December 31, 2020, the maturities of our operating and finance lease liabilities were as shown in the table below:


(In millions)	Operating Leases		Finance Leases
2020	$	21.2	$	10.7
2021	22.1		4.2
2022	22.4		4.3
2023	20.8		4.5
2024	20.0		4.6
Thereafter	32.0		68.7
Total future lease cost (1)	138.5		97.0
Less: Imputed interest	(20.2)		(34.2)
Present value of future payments	118.3		62.8
Less: Current portion	(16.5)		(8.8)
Long-term portion	$	101.8	$	54.0

(1) Total future lease cost excludes $16.3 million of legally binding minimum lease payments for leases signed but not yet commenced.

Schedule of Maturity of Finance Lease Liabilities

As of December 31, 2020, the maturities of our operating and finance lease liabilities were as shown in the table below:


(In millions)	Operating Leases		Finance Leases
2020	$	21.2	$	10.7
2021	22.1		4.2
2022	22.4		4.3
2023	20.8		4.5
2024	20.0		4.6
Thereafter	32.0		68.7
Total future lease cost (1)	138.5		97.0
Less: Imputed interest	(20.2)		(34.2)
Present value of future payments	118.3		62.8
Less: Current portion	(16.5)		(8.8)
Long-term portion	$	101.8	$	54.0

(1) Total future lease cost excludes $16.3 million of legally binding minimum lease payments for leases signed but not yet commenced.

Schedule of Components of Lease Expense and Other Information

The components of lease expense for the twelve months ended December 31, 2020 and 2019 were as follows:


	Twelve Months Ended December 31,
(In millions)	2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	2.0	$	1.1
Interest on lease liabilities	1.9		0.8
Operating lease cost	18.4		12.2
Short-term lease cost (1)	1.3		3.5
Variable lease cost (2)	4.2		3.9
Total lease cost	$	27.8	$	21.5

(1) Short-term lease cost is primarily related to temporary office space associated with the transition of certain operations to the Philippines.

(2) Variable lease costs are primarily related to common area maintenance charges and property taxes.

Other information related to leases was as shown in the table below. All figures include the leases recorded at the beginning of the first quarter of 2019 as a result of our adoption of ASC 842.


	Twelve Months Ended December 31,
(Dollars in millions)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18.3	$	14.3
Operating cash flows from finance leases	0.7		0.8
Financing cash flows from finance leases	8.5		0.5
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	33.5		80.6
Finance leases	$	41.7	$	15.5
Weighted average remaining lease term:
Operating leases	6.1 years		6.2 years
Finance leases	23.3 years		13.3 years
Weighted average discount rate:
Operating leases	5.0%		5.0%
Finance leases	5.2%		5.0%