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Leases Leases (Tables) | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Lease Assets and Lease Liabilities |
Leases |  | Classification |  | June 30, 2019
Assets |  |  |  |
Operating |  | Operating Lease Assets |  | $ | 336.0 |
Finance |  | Property and Equipment, Net and Other Assets |  | 103.8 |
Total right-of-use assets |  |  |  | $ | 439.8 |
Liabilities |  |  |  |
Current |  |  |  |
Operating |  | Other Current Liabilities |  | $ | 40.4 |
Finance |  | Current Maturities of Long-Term Debt and Vehicle Floorplan Payable - Trade |  | 70.4 |
Noncurrent |  |  |  |
Operating |  | Noncurrent Operating Lease Liabilities |  | 308.8 |
Finance |  | Long-Term Debt, Net of Current Maturities |  | 86.1 |
Total lease liabilities |  |  |  | $ | 505.7 |
Net Lease Cost |
Lease Term and Discount Rate |  | June 30, 2019
Weighted average remaining lease term |  |
Operating |  | 11 years |
Finance |  | 10 years |
Weighted-average discount rate |  |
Operating |  | 5.29 | %
Finance |  | 8.26 | %
|  |  |  | Three Months Ended |  | Six Months Ended
Lease cost |  | Classification |  | June 30, 2019 |  | June 30, 2019
Operating lease cost |  | Selling, general, and administrative expenses |  | $ | 15.6 |  |  | $ | 30.8 |
Finance lease cost: |  |  |  |  |  |
Amortization of ROU assets |  | Depreciation and amortization |  | 2.9 |  |  | 5.6 |
Interest on lease liabilities |  | Other interest expense and floorplan interest expense |  | 2.3 |  |  | 4.5 |
Short-term lease cost (1) |  | Selling, general, and administrative expenses |  | 2.3 |  |  | 5.6 |
Variable lease cost |  | Selling, general, and administrative expenses |  | 1.4 |  |  | 2.7 |
Sublease income |  | Selling, general, and administrative expenses |  | (0.4 | ) |  | (0.8 | )
Net lease cost |  |  |  | $ | 24.1 |  |  | $ | 48.4 |
(1) Includes leases with a term of one month or less. |  |
Cash Flow Information, Lessee |
|  | Six Months Ended
Other Information |  | June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities |  |
Operating cash flows from operating leases |  | $ | 30.6 |
Operating cash flows from finance leases (1) |  | $ | 25.1 |
Financing cash flows from finance leases |  | $ | 3.2 |
Right-of-use assets obtained in exchange for new: |  |
Operating lease liabilities |  | $ | 13.2 |
Finance lease liabilities |  | $ | 26.0 |
(1) Includes the interest component of payments made on finance leases as well as principal payments on vehicle floorplan payables with trade lenders for certain service loaner vehicle leases.
Maturity of Lease Liabilities |
Maturity of Lease Liabilities |  | Operating Leases |  | Finance Leases
Twelve months ending June 30, |  |  |  |
2020 |  | $ | 57.7 |  |  | $ | 78.0 |
2021 |  | 52.0 |  |  | 10.6 |
2022 |  | 47.4 |  |  | 10.7 |
2023 |  | 41.0 |  |  | 10.4 |
2024 |  | 35.3 |  |  | 10.7 |
Thereafter |  | 240.9 |  |  | 102.6 |
Total lease payments |  | 474.3 |  |  | 223.0 |
Less: interest |  | (125.1 | ) |  | (66.5 | )
Present value of lease liabilities |  | $ | 349.2 |  |  | $ | 156.5 |
Maturity of Lease Liabilities |
Maturity of Lease Liabilities |  | Operating Leases |  | Finance Leases
Twelve months ending June 30, |  |  |  |
2020 |  | $ | 57.7 |  |  | $ | 78.0 |
2021 |  | 52.0 |  |  | 10.6 |
2022 |  | 47.4 |  |  | 10.7 |
2023 |  | 41.0 |  |  | 10.4 |
2024 |  | 35.3 |  |  | 10.7 |
Thereafter |  | 240.9 |  |  | 102.6 |
Total lease payments |  | 474.3 |  |  | 223.0 |
Less: interest |  | (125.1 | ) |  | (66.5 | )
Present value of lease liabilities |  | $ | 349.2 |  |  | $ | 156.5 |
Future Minimum Lease Obligations Under ASC 840 | The following table provides the future minimum lease obligations for leases with initial terms in excess of one year as presented in our Annual Report on Form 10-K for the year ended December 31, 2018 in accordance with ASC 840:
Maturity of Lease Liabilities |  | Operating Leases(1) |  | Capital Leases
Twelve months ending December 31, |  |  |  |
2019 |  | $ | 61.2 |  |  | $ | 35.7 |
2020 |  | 51.0 |  |  | 10.4 |
2021 |  | 46.1 |  |  | 10.1 |
2022 |  | 42.1 |  |  | 10.2 |
2023 |  | 36.6 |  |  | 10.1 |
Thereafter |  | 258.4 |  |  | 108.7 |
Total minimum lease payments |  | $ | 495.4 |  |  | $ | 185.2 |
Less: amounts representing interest |  |  |  | (69.5 | )
|  |  |  | $ | 115.7 |
(1) Future minimum operating lease payments do not reflect future minimum sublease income of $2.2 million. Additionally, operating leases that are on a month-to-month basis are not included.

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