Leases

3 Months Ended

Jun. 30, 2020

As of June 30, 2020, operating right-of-use (“ROU”) assets and lease liabilities were both $30.5 ($5.1 of which is classified as current liabilities). The weighted-average remaining term for lease contracts was 6.3 years at June 30, 2020, with maturity dates ranging from August 2020 to February 2029. The weighted-average discount rate was 4.7% at June 30, 2020.

We incurred $3.2 and $2.1 of rental expense under operating leases for the three months ended June 30, 2020 and 2019, respectively, and $6.2 and $4.1 for the six months ended June 30, 2020 and 2019, respectively. Certain operating leases contain rent escalation clauses and lease concessions that require additional rental payments in the later years of the term. Rent expense for these types of leases is recognized on a straight-line basis over the minimum lease term. Adjustments for straight-line rental expense for the respective periods was not material and as such, the majority of expense recognized was reflected in cash provided by (used in) operating activities for the respective periods. This expense consisted primarily of payments for base rent

on building and equipment leases. Payments related to short-term lease costs and taxes and variable service charges on leased properties were immaterial. In addition, we have the right, but no obligation, to renew certain leases for various renewal terms.

The following table summarizes future minimum lease payments for non-cancelable operating leases as of June 30, 2020:


2020	$	3.7
2021	6.5
2022	6.1
2023	5.6
2024	5.3
Thereafter ⁽¹⁾	7.9
Total future minimum lease payments	$	35.1

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⁽¹⁾ As of June 30, 2020, future minimum lease payments for non-cancelable operating leases for period subsequent to 2024 relate to seven leased facilities.