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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract] |
Components of lease expense | The components of lease expense were as follows (in millions):
| For the Year Ended December 31, 2020 |  | For the Year Ended December 31, 2019
Finance lease cost: |  |  |
Amortization of right-of-use assets | $ | 10.3 |  |  | $ | 7.6 |
Interest on lease liabilities | 0.7 |  |  | 0.9 |
Operating lease cost | 62.7 |  |  | 59.7 |
Short-term lease cost | 4.0 |  |  | 4.3 |
Variable lease cost | 20.3 |  |  | 19.9 |
Total lease cost | $ | 98.0 |  |  | $ | 92.4 |
Other information |  |  |
Cash paid for amounts included in the measurement lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 61.6 |  |  | $ | 58.1 |
Financing cash flows from finance leases | $ | 10.8 |  |  | $ | 6.4 |
Right-of-use assets obtained in exchange for new finance lease liabilities | $ | 15.4 |  |  | $ | 13.4 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 67.6 |  |  | $ | 51.5 |
| As of December 31, 2020 |  | As of December 31, 2019
Finance lease right-of-use assets(1) | $ | 33.6 |  |  | $ | 28.4 |
Operating lease right-of-use assets | $ | 194.4 |  |  | $ | 181.6 |
Finance lease liability, current(2) | $ | 10.1 |  |  | $ | 7.8 |
Finance lease liability, non-current(3) | $ | 29.3 |  |  | $ | 25.9 |
Operating lease liability, current | $ | 55.0 |  |  | $ | 52.7 |
Operating lease liability, non-current | $ | 142.8 |  |  | $ | 131.0 |
Weighted-average remaining lease term - finance leases | 4.3 years |  | 4.9 years
Weighted-average remaining lease term - operating leases | 4.4 years |  | 4.5 years
Weighted-average discount rate - finance leases | 1.91 | % |  | 2.71 | %
Weighted-average discount rate – operating leases | 2.81 | % |  | 3.69 | %
(1) Recorded in Property, plant and equipments in Consolidated Balance Sheet
(2) Recorded in Current maturities of long-term debt in Consolidated Balance Sheet
(3) Recorded in Long-term debt in Consolidated Balance Sheet
Summary of approximate minimum commitments under all non-cancelable leases outstanding | Future annual minimum lease payments and finance lease commitments as of December 31, 2020 were as follows (in millions):
| Operating Leases |  | Finance Leases
2021 | $ | 59.8 |  |  | $ | 10.5 |
2022 | 50.8 |  |  | 8.7 |
2023 | 43.3 |  |  | 5.8 |
2024 | 26.3 |  |  | 2.6 |
2025 | 13.4 |  |  | 0.8 |
Thereafter | 16.8 |  |  | 11.8 |
Total minimum lease payments | $ | 210.4 |  |  | $ | 40.2 |
Less imputed interest | (12.6) |  |  | (0.8) |
Present value of minimum payments | $ | 197.8 |  |  | $ | 39.4 |
Summary of information related to our environmental reserve | Environmental Environmental laws and regulations in the locations we operate can potentially impose obligations to remediate hazardous substances at our properties, properties formerly owned or operated by us, and facilities to which we have sent or send waste for treatment or disposal. We are aware of contamination at some facilities; however, we do not believe that any future remediation related to those facilities will be material to our results of operations. Total environmental accruals are included Accrued expenses and Other liabilities on the accompanying Consolidated Balance Sheets. Future environmental costs are estimates and may be subject to change due to changes in environmental remediation regulations, technology or site-specific requirements.
Summary of changes in the total warranty liabilities | Total product warranty liabilities related to continuing operations are included in the following captions on the accompanying Consolidated Balance Sheets (in millions):
| As of December 31,
| 2020 |  | 2019
Accrued expenses | $ | 37.7 |  |  | $ | 38.2 |
Other liabilities | 82.1 |  |  | 74.6 |
Total product warranty liabilities | $ | 119.8 |  |  | $ | 112.8 |
The changes in product warranty liabilities related to continuing operations for the years ended December 31, 2020 and 2019 were as follows (in millions):
Total warranty liability as of December 31, 2018 | $ | 111.6 |
Payments made in 2019 | (34.9) |
Changes resulting from issuance of new warranties | 44.1 |
Changes in estimates associated with pre-existing liabilities | (7.6) |
Changes in foreign currency translation rates and other | — |
Warranty liability from divestitures | (0.4) |
Total warranty liability as of December 31, 2019 | $ | 112.8 |
Payments made in 2020 | (35.5) |
Changes resulting from issuance of new warranties | 41.7 |
Changes in estimates associated with pre-existing liabilities | 0.2 |
Changes in foreign currency translation rates and other | 0.6 |
Total warranty liability as of December 31, 2020 | $ | 119.8 |
Summary of self-insurance liabilities | Total self-insurance liabilities were included in the following captions on the accompanying Consolidated Balance Sheets (in millions):
| As of December 31,
| 2020 |  | 2019
Accrued expenses | $ | 3.6 |  |  | $ | 5.2 |
Other liabilities | 16.0 |  |  | 19.4 |
Total self-insurance liabilities | $ | 19.6 |  |  | $ | 24.6 |
Schedule of Unusual or Infrequent Items, or Both | The following table summarizes the components of Loss (gain) from natural disasters, net of insurance recoveries (in millions):
|  |  |  |  |  | For the Year Ended December 31, |
|  |  |  |  |  |  |  | 2020 |  | 2019 |  | 2018 |
Marshalltown tornado | $ | (3.0) |  |  | $ | 178.8 |  |  | $ | 38.3 |  |
Marshalltown wind storm | (0.1) |  |  | — |  |  | — |  |
(Loss) gain from natural disasters, net of insurance recoveries | $ | (3.1) |  |  | $ | 178.8 |  |  | $ | 38.3 |  |
The following table summarizes the Loss (gain) from natural disasters, net of insurance recoveries relating to the tornado (in millions):
(Amounts in millions) |  |  | For the Year Ended December 31,
|  |  |  |  | 2020 |  | 2019 |  | 2018
Insurance recoveries received |  |  |  |  | $ | — |  |  | $ | 243.2 |  |  | $ | 124.3 |
Less losses and expenses incurred: |  |  |  |  |  |  |  |  |
Site clean-up and remediation |  |  |  |  | — |  |  | 20.4 |  |  | 50.9 |
Factory inefficiencies due to lower productivity |  |  |  |  | — |  |  | 9.3 |  |  | 7.4 |
Write-off of property, plant and equipment |  |  |  |  | — |  |  | — |  |  | 4.2 |
Write-off of inventory |  |  |  |  | — |  |  | — |  |  | 5.8 |
Other |  |  |  |  | 3.0 |  |  | 34.7 |  |  | 17.7 |
Total losses and expenses |  |  |  |  | $ | 3.0 |  |  | $ | 64.4 |  |  | $ | 86.0 |
(Loss) gain from natural disasters, net of insurance recoveries |  |  |  |  | $ | (3.0) |  |  | $ | 178.8 |  |  | $ | 38.3 |
Components of (Loss) gain from natural disasters, net of insurance recoveries: |  |  |  |  |  |  |  |  |
Insurance proceeds for lost profits |  |  |  |  | — |  |  | 99.2 |  |  | 27.4 |
(Loss) gain from property damage, net of insurance recoveries |  |  |  |  | (3.0) |  |  | 79.6 |  |  | 10.9 |
The following table summarizes the Loss (gain) from natural disasters, net of insurance recoveries relating to the wind storm (in millions):
|  |  | For the Year Ended December 31,
|  |  |  |  | 2020 |  |
Insurance recoveries receivable |  |  |  |  | 6.6 |  |  |
Inventory write-offs |  |  |  |  | $ | 0.1 |  |  |
Site clean-up and remediation |  |  |  |  | 1.7 |  |  |
Building repairs |  |  |  |  | 3.0 |  |  |
Factory inefficiencies due to lower productivity |  |  |  |  | 0.2 |  |  |
Other |  |  |  |  | 1.7 |  |  |
Total losses and expenses |  |  |  |  | $ | 6.7 |  |  |
Components of Marshalltown wind storm in Loss (gain) from natural disasters, net of insurance recoveries: |  |  |  |  |  |  |
Loss from natural disaster, net of insurance recoveries |  |  |  |  | $ | (0.1) |  |  |

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