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Contingencies, Guarantees, Indemnifications and Leases (Tables)

12 Months Ended

Dec. 31, 2020

Contingencies, Guarantees, Indemnifications and Leases

Lease Assets and Liabilities (Table)

​

​	​	​	​	​	​	​	​
​	​	December 31,
​	​	2020		​	2019		​
​		(in millions)
Assets		​		​	​	​	​
Operating lease assets (1)	​	$	234.9	​	$	190.0	​
Finance lease assets (1)	​		49.5	​	​	31.4	​
Total lease assets	​	$	284.4	​	$	221.4	​
​	​	​	​	​	​	​	​
Liabilities	​			​	​		​
Operating lease liabilities (2)	​	$	231.4	​	$	197.5	​
Finance lease liabilities (2)	​		50.1	​	​	31.8	​
Total lease liabilities	​	$	281.5	​	$	229.3	​

(1) Operating and finance lease assets are primarily reported within property and equipment on the consolidated statements of financial position.

(2) Operating and finance lease liabilities are reported within other liabilities on the consolidated statements of financial position.

Lease Cost (Table)

​

​	​	​	​	​	​	​
​		For the year ended December 31,
​	​	2020		​	2019
​	​	(in millions)
Finance lease cost (1):		​		​	​	​
Amortization of right-of-use assets	​	$	20.5	​	$	14.6
Interest on lease liabilities	​		1.0	​	​	1.0
Operating lease cost (1)	​		58.7	​	​	55.8
Other lease cost (1) (2)	​		8.6	​	​	8.0
Sublease income (3)	​		(1.6)	​	​	(1.7)
Total lease cost	​	$	87.2	​	$	77.7

(1) Finance, operating and other lease costs are primarily included in operating expenses on the consolidated statements of operations.

(2) Other lease cost primarily reflects variable and short-term lease costs.

(3) Sublease income is included in fees and other revenues on the consolidated statements of operations.

Future Payments Due by Period for Lease Obligations (Table)

​

​	​	​	​	​	​	​	​	​	​	​
​		Operating leases			Finance leases			Total
​	​	(in millions)								​
For the twelve months ending December 31:	​	​	​	​	​	​	​	​	​	​
2021	​	$	56.9	​	$	21.5	​	$	78.4	​
2022	​	​	49.8	​	​	13.6	​	​	63.4	​
2023	​	​	39.1	​	​	11.4	​	​	50.5	​
2024	​	​	30.5	​	​	3.6	​	​	34.1	​
2025	​	​	22.8	​	​	1.2	​	​	24.0	​
2026 and thereafter	​	​	60.8	​	​	—	​	​	60.8	​
Total lease payments	​	​	259.9	​	​	51.3	​	​	311.2	​
Less: interest	​	​	28.5	​	​	1.2	​	​	29.7	​
Present value of lease liabilities	​	$	231.4	​	$	50.1	​	$	281.5	​

Weighted-Average Remaining Lease Term and Weighted-Average Discount Rates (Table)

​

​	​	​	​	​	​
​		For the year ended December 31,
​	​	2020	​	2019	​
Weighted-average remaining lease term (in years):			​	​	​
Operating leases		6.7	​	6.7	​
Finance leases		3.0	​	2.6	​
​	​	​	​	​	​
Weighted-average discount rate:			​		​
Operating leases		3.2	%	3.9	%
Finance leases		1.8	%	2.7	%

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- References

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980

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