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Leases (Tables) | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Schedule of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to our leases was as follows (dollars in millions):
| June 30, 2019 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 238.0 |
Current portion of operating lease obligations | $ | 59.9 |
Long-term portion of operating lease obligations |  | 183.4 |
Total operating lease obligations | $ | 243.3 |
Finance leases: |  |  |
Buildings | $ | 0.3 |
Machinery and equipment |  | 28.5 |
Total |  | 28.8 |
Less accumulated amortization |  | (17.4 | )
Total | $ | 11.4 |
Current portion of finance lease obligations | $ | 1.5 |
Long-term portion of finance lease obligations |  | 16.8 |
Total finance lease obligations | $ | 18.3 |
Weighted-average remaining lease term (years): |  |  |
Operating leases |  | 5.9 |
Finance leases |  | 9.3 |
Weighted-average discount rate: |  |  |
Operating leases | 4.38% |
Finance leases | 6.66% |
Components of Lease Expense | The components of lease expense were as follows (dollars in millions):
| Three Months Ended June 30, 2019 |  |  | Six Months Ended June 30, 2019 |
Finance lease cost: |  |  |  |  |  |  |
Amortization of finance lease assets | $ | 0.4 |  |  | $ | 0.7 |
Interest on lease liabilities |  | 0.3 |  |  |  | 0.6 |
Total finance lease cost |  | 0.7 |  |  |  | 1.3 |
Operating lease cost |  | 17.3 |  |  |  | 34.7 |
Short-term lease cost |  | 6.4 |  |  |  | 10.7 |
Variable lease cost |  | 3.9 |  |  |  | 9.8 |
Total lease cost | $ | 28.3 |  |  | $ | 56.5 |
Schedule of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows (dollars in millions):
| Six Months Ended |
| June 30, 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows for operating leases | $ | (29.5 | )
Operating cash flows for finance leases |  | (0.7 | )
Financing cash flows for finance leases |  | (0.6 | )
Right-of-use assets obtained in exchange for new lease obligations: |  |  |
Operating leases | $ | (16.1 | )
Finance leases |  | — |
Supplemental non-cash information on changes in lease liabilities | $ | 28.8 |
Supplemental non-cash information on changes in right-of-use assets | $ | 6.1 |
Schedule of Maturities of Lease Liabilities for Operating and Finance Leases | The maturities of lease liabilities for operating and finance leases at June 30, 2019 were as follows (dollars in millions):
|  | Operating Leases |  |  | Finance Leases |
2019 |  | $ | 35.6 |  |  | $ | 1.3 |
2020 |  |  | 64.3 |  |  |  | 2.7 |
2021 |  |  | 53.7 |  |  |  | 2.7 |
2022 |  |  | 36.8 |  |  |  | 2.7 |
2023 |  |  | 24.0 |  |  |  | 2.7 |
Thereafter |  |  | 62.9 |  |  |  | 12.5 |
Total lease payments |  |  | 277.3 |  |  |  | 24.6 |
Less imputed interest (a) |  |  | (34.0 | ) |  |  | (6.3 | )
Present value of lease liabilities |  | $ | 243.3 |  |  | $ | 18.3 |
(a) | Calculated using the incremental borrowing rate for each lease applied to the future payments.
Schedule of Maturities of Lease Liabilities Under ASU 840 | The maturities of lease liabilities at December 31, 2018 under ASC 840 were as follows (dollars in millions):
|  | Operating Leases |  |  | Finance Leases |
2019 |  | $ | 70.1 |  |  | $ | 2.7 |
2020 |  |  | 58.7 |  |  |  | 2.7 |
2021 |  |  | 47.4 |  |  |  | 2.7 |
2022 |  |  | 29.9 |  |  |  | 2.7 |
2023 |  |  | 17.8 |  |  |  | 2.7 |
Thereafter |  |  | 46.4 |  |  |  | 12.4 |
Total lease payments |  | $ | 270.3 |  |  |  | 25.9 |
Less imputed interest (b) |  |  |  |  |  |  | (6.9 | )
Present value of lease liabilities |  |  |  |  |  | $ | 19.0 |
(b) | Calculated using the incremental borrowing rate for each lease applied to the future payments.

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