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Leases (Tables) | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Assets and Liabilities, Lessee | The following table summarizes the classification of operating and finance lease assets and obligations in the Company's Condensed Consolidated Balance Sheet as of June 30, 2019:
(in millions) |  |  |  | June 30, 2019
Assets |  |  |  |
Operating lease assets |  | Operating lease right-of-use assets |  | $ | 228.1 |
Finance lease assets |  | Property, plant and equipment, net |  | 57.3 |
Total leased assets |  |  |  | $ | 285.4 |
Liabilities |  |  |  |
Short-term: |  |  |  |
Operating lease obligations |  | Accrued expenses and other current liabilities |  | $ | 49.0 |
Finance lease obligations |  | Current portion of long-term debt |  | 7.5 |
Long-term: |  |  |  |
Operating lease obligations |  | Long-term operating lease obligations |  | 186.7 |
Finance lease obligations |  | Long-term debt, net |  | 58.4 |
Total lease obligations |  |  |  | $ | 301.6 |
Lease, Expense | The following table provides supplemental information related to the Company's Condensed Consolidated Statement of Cash Flows for the six months ended June 30, 2019:
|  | Six Months Ended
(in millions) |  | June 30, 2019
Cash paid for amounts included in the measurement of lease obligations: |  |
Operating cash flows paid for operating leases |  | $ | 27.8 |
Financing cash flows paid for finance leases |  | 3.3 |
Right-of-use assets obtained in exchange for new operating lease obligations |  | $ | 55.0 |
The following table summarizes the classification of lease expense in the Company's Condensed Consolidated Statement of Income for the three and six months ended June 30, 2019:
|  | Three Months Ended |  | Six Months Ended
(in millions) |  | June 30, 2019 |  | June 30, 2019
Operating lease expense (1) |  | $ | 22.2 |  |  | $ | 41.2 |
Finance lease expense: |  |  |  |
Amortization of right-of-use assets |  | 2.3 |  |  | 4.2 |
Interest on lease obligations |  | 1.2 |  |  | 2.4 |
Total lease expense |  | $ | 25.7 |  |  | $ | 47.8 |
(1) | Includes short-term leases and variable lease expenses, which are immaterial.
Lessee, Operating Lease, Liability, Maturity | The following table sets forth the scheduled maturities of lease obligations as of June 30, 2019:
(in millions) |  | Operating Leases |  | Finance Leases |  | Total
Year Ended December 31, |  |  |  |  |  |
2019 (excluding the six months ended June 30, 2019) |  | $ | 32.1 |  |  | $ | 5.8 |  |  | $ | 37.9 |
2020 |  | 56.0 |  |  | 11.7 |  |  | 67.7 |
2021 |  | 47.3 |  |  | 11.4 |  |  | 58.7 |
2022 |  | 39.9 |  |  | 9.5 |  |  | 49.4 |
2023 |  | 31.0 |  |  | 7.6 |  |  | 38.6 |
Thereafter |  | 75.9 |  |  | 43.3 |  |  | 119.2 |
Total lease payments |  | 282.2 |  |  | 89.3 |  |  | 371.5 |
Less: Interest |  | 46.5 |  |  | 23.4 |  |  | 69.9 |
Present value of lease obligations |  | $ | 235.7 |  |  | $ | 65.9 |  |  | $ | 301.6 |
Finance Lease, Liability, Maturity | The following table sets forth the scheduled maturities of lease obligations as of June 30, 2019:
(in millions) |  | Operating Leases |  | Finance Leases |  | Total
Year Ended December 31, |  |  |  |  |  |
2019 (excluding the six months ended June 30, 2019) |  | $ | 32.1 |  |  | $ | 5.8 |  |  | $ | 37.9 |
2020 |  | 56.0 |  |  | 11.7 |  |  | 67.7 |
2021 |  | 47.3 |  |  | 11.4 |  |  | 58.7 |
2022 |  | 39.9 |  |  | 9.5 |  |  | 49.4 |
2023 |  | 31.0 |  |  | 7.6 |  |  | 38.6 |
Thereafter |  | 75.9 |  |  | 43.3 |  |  | 119.2 |
Total lease payments |  | 282.2 |  |  | 89.3 |  |  | 371.5 |
Less: Interest |  | 46.5 |  |  | 23.4 |  |  | 69.9 |
Present value of lease obligations |  | $ | 235.7 |  |  | $ | 65.9 |  |  | $ | 301.6 |
Lease, Lease Term and Discount Rate | The following table provides lease term and discount rate information related to operating and finance leases as of June 30, 2019:
|  | June 30, 2019
Weighted average remaining lease term (years): |  |
Operating leases |  | 6.29 |
Finance leases |  | 9.63 |
Weighted average discount rate: |  |
Operating leases |  | 5.50 | %
Finance leases |  | 6.32 | %

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + 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=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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