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Leases

9 Months Ended

Sep. 30, 2020

Note 8. Leases

Our metals service center leases are comprised of processing and distribution facilities, equipment, trucks and trailers, ground leases and other leased spaces, such as depots, sales offices, storage and data centers. We also lease various office buildings, including our corporate headquarters in Los Angeles, California. Our leases of facilities and other spaces expire at various times through 2031 and our ground leases expire at various times through 2068. Nearly all of our leases are operating leases. Information regarding our insignificant finance leases is not included as it is not meaningful to an understanding of our lease obligations.

The following is a summary of our lease cost:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in millions)				(in millions)
Operating lease cost	$	20.4	$	20.9	$	61.9	$	62.8

Supplemental cash flow and balance sheet information is presented below:


	Nine Months Ended
	September 30,
	2020		2019

	(in millions)
Supplemental cash flow information
Cash payments for operating leases	$	61.5	$	62.6
Right-of-use assets obtained in exchange for operating lease obligations	$	35.8	$	53.2

	September 30,		December 31,
	2020		2019
Other lease information
Weighted average remaining lease term—operating leases		6.0 years		5.6 years
Weighted average discount rate—operating leases		4.0%		4.3%

Maturities of operating lease liabilities as of September 30, 2020 are as follows:


	(in millions)
2020 (remaining three months)	$	15.4
2021		54.1
2022		42.5
2023		33.3
2024		26.1
Thereafter		55.0
Total operating lease payments		226.4
Less: imputed interest		(30.3)
Total operating lease liabilities	$	196.1