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Leases

3 Months Ended

Mar. 31, 2021

Note 7. 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 2045 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
	March 31,
	2021		2020

	(in millions)
Operating lease cost	$	19.7	$	21.1

Supplemental cash flow and balance sheet information is presented below:


	Three Months Ended
	March 31,
	2021		2020

	(in millions)
Supplemental cash flow information:
Cash payments for operating leases	$	19.6	$	21.2
Right-of-use assets obtained in exchange for operating lease obligations	$	11.5	$	14.5

	March 31,		December 31,
	2021		2020
Other lease information:
Weighted average remaining lease term—operating leases		5.6 years		5.7 years
Weighted average discount rate—operating leases		3.6%		3.7%

Maturities of operating lease liabilities as of March 31, 2021 are as follows:


	(in millions)
2021 (remaining 9 months)	$	44.0
2022		48.6
2023		39.0
2024		31.2
2025		21.4
Thereafter		46.1
Total operating lease payments		230.3
Less: imputed interest		(27.2)
Total operating lease liabilities	$	203.1