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Leases

6 Months Ended

Jun. 30, 2021

Leases

Leases

Note 7.  Leases

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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 space. 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.  

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The following is a summary of our lease cost:

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​	​	​	​	​	​	​	​	​	​	​	​
​	Three Months Ended					​	Six Months Ended
​	June 30,					​	June 30,
​	2021			2020			2021			2020
​	(in millions)					​	(in millions)
Operating lease cost	$	19.3	​	$	20.4	​	$	39.0	​	$	41.5

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Supplemental cash flow and balance sheet information is presented below:

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​	​	​	​	​	​
​	Six Months Ended
​	June 30,
​	2021			2020
​	(in millions)
Supplemental cash flow information:	​	​	​	​	​
Cash payments for operating leases	$	39.1	​	$	41.3
Right-of-use assets obtained in exchange for operating lease obligations	$	33.0	​	$	27.5
​	​	​	​	​	​
​	June 30,		​	December 31,
​	2021		​	2020
Other lease information:	​	​	​	​	​
Weighted average remaining lease term—operating leases	​	6.2 years	​	​	5.7 years
Weighted average discount rate—operating leases	​	3.6%	​	​	3.7%

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Maturities of operating lease liabilities as of June 30, 2021 are as follows:

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​	​	​	​	​	​
​	​	​	​	(in millions)
2021 (remaining six months)	​	​	​	$	29.4
2022	​	​	​	​	51.6
2023	​	​	​	​	41.9
2024	​	​	​	​	33.7
2025	​	​	​	​	23.9
Thereafter	​	​	​	​	60.5
Total operating lease payments	​	​	​	​	241.0
Less: imputed interest	​	​	​	​	(30.3)
Total operating lease liabilities	​	​	​	$	210.7

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- References

No definition available.

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

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