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v3.20.2

Lease Accounting (Tables) | 6 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
Lessee, Lease | Leases are reflected in the following balance sheet accounts:
(Millions of dollars) | Classification |  | June 30, 2020 |  | December 31, 2019
Assets |  |  |  |  |
Operating (Right-of-use) | Other Assets |  | $ | 142.1 |  |  | $ | 124.2 |
Finance | Property, plant, and equipment, at cost, less accumulated depreciation of $2.5 at June 30, 2020 and $2.2 at December 31, 2019 |  | 2.9 |  |  | 3.0 |
Total leased assets |  |  | $ | 145.0 |  |  | $ | 127.2 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating | Trade accounts payable and accrued liabilities |  | $ | 7.5 |  |  | $ | 6.8 |
Finance | Current maturities of long-term debt |  | 1.2 |  |  | 1.2 |
Noncurrent |  |  |  |  |
Operating | Deferred credits and other liabilities |  | 136.3 |  |  | 118.5 |
Finance | Long-term debt, including capitalized lease obligations |  | 1.2 |  |  | 1.2 |
Total lease liabilities |  |  | $ | 146.2 |  |  | $ | 127.7 |
Lease, Cost | Lease Cost:
|  |  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(Millions of dollars) | Classification |  | 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease cost | Station and other operating expenses |  | $ | 4.1 |  |  | $ | 3.6 |  |  | $ | 8.1 |  |  | $ | 7.1 |
Finance lease cost |  |  |  |  |  |  |  |  |
Amortization of leased assets | Depreciation & amortization expense |  | 0.3 |  |  | 0.3 |  |  | 0.6 |  |  | 0.6 |
Interest on lease liabilities | Interest expense |  | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Net lease costs |  |  | $ | 4.4 |  |  | $ | 3.9 |  |  | $ | 8.8 |  |  | $ | 7.8 |
Cash flow information:
|  |  | Six Months Ended June 30, |  |
(Millions of dollars) |  |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of liabilities |  |  |  |  |
Operating cash flows from operating leases |  |  | $ | 7.5 |  |  | $ | 6.7 |
Operating cash flows from finance leases |  |  | $ | 0.1 |  |  | $ | 0.1 |
Financing cash flows from finance leases |  |  | $ | 0.7 |  |  | $ | 0.7 |
Maturity of Lease Liabilities at June 30, 2020:
(Millions of dollars) |  | Operating leases |  | Finance leases
2020 |  | $ | 8.0 |  |  | $ | 0.7 |
2021 |  | 16.0 |  |  | 1.1 |
2022 |  | 15.1 |  |  | 0.6 |
2023 |  | 14.6 |  |  | 0.1 |
2024 |  | 14.0 |  |  | — |
After 2024 |  | 169.2 |  |  | — |
Total lease payments |  | 236.9 |  |  | 2.5 |
less: interest |  | 93.1 |  |  | 0.1 |
Present value of lease liabilities |  | $ | 143.8 |  |  | $ | 2.4 |
|  |  | Six Months Ended June 30,
|  |  | 2020
Weighted average remaining lease term (years) |  |  |
Finance leases |  |  | 2.0
Operating leases |  |  | 15.8
Weighted average discount rate |  |  |
Finance leases |  |  | 4.6 | %
Operating leases |  |  | 5.8 | %
Finance Lease, Liability, Maturity | Maturity of Lease Liabilities at June 30, 2020:
(Millions of dollars) |  | Operating leases |  | Finance leases
2020 |  | $ | 8.0 |  |  | $ | 0.7 |
2021 |  | 16.0 |  |  | 1.1 |
2022 |  | 15.1 |  |  | 0.6 |
2023 |  | 14.6 |  |  | 0.1 |
2024 |  | 14.0 |  |  | — |
After 2024 |  | 169.2 |  |  | — |
Total lease payments |  | 236.9 |  |  | 2.5 |
less: interest |  | 93.1 |  |  | 0.1 |
Present value of lease liabilities |  | $ | 143.8 |  |  | $ | 2.4 |
Lessee, Operating Lease, Liability, Maturity | Maturity of Lease Liabilities at June 30, 2020:
(Millions of dollars) |  | Operating leases |  | Finance leases
2020 |  | $ | 8.0 |  |  | $ | 0.7 |
2021 |  | 16.0 |  |  | 1.1 |
2022 |  | 15.1 |  |  | 0.6 |
2023 |  | 14.6 |  |  | 0.1 |
2024 |  | 14.0 |  |  | — |
After 2024 |  | 169.2 |  |  | — |
Total lease payments |  | 236.9 |  |  | 2.5 |
less: interest |  | 93.1 |  |  | 0.1 |
Present value of lease liabilities |  | $ | 143.8 |  |  | $ | 2.4 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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