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Lease Accounting (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Lessee, Lease

Leases are reflected in the following balance sheet accounts:

(Millions of dollars)			Classification						March 31, 2021						December 31, 2020
Assets
Operating (Right-of-use)			Operating lease right-of-use assets						$	395.6					$	147.7
Finance			Property, plant, and equipment, at cost, less accumulated depreciation of $5.0 at March 31, 2021 and $2.8 at December 31, 2020						137.3						2.6
Total leased assets									$	532.9					$	150.3
Liabilities
Current
Operating			Trade accounts payable and accrued liabilities						$	17.0					$	7.8
Finance			Current maturities of long-term debt						10.2						1.2
Noncurrent
Operating			Non current operating lease liabilities						382.3						142.5
Finance			Long-term debt, including capitalized lease obligations						127.2						0.9
Total lease liabilities									$	536.7					$	152.4

Lease, Cost

Lease Cost:

															Three Months Ended March 31,
(Millions of dollars)			Classification																		2021						2020
Operating lease cost			Station and other operating expenses																		$	8.9					$	3.9
Finance lease cost
Amortization of leased assets			Depreciation & amortization expense																		2.6						0.3
Interest on lease liabilities			Interest expense																		1.4						—
Net lease costs																					$	12.9					$	4.2

Cash flow information:

									Three Months Ended March 31,
(Millions of dollars)									2021						2020
Cash paid for amounts included in the measurement of liabilities
Operating cash flows from operating leases									$	8.2					$	3.7
Operating cash flows from finance leases									$	1.4					$	—
Financing cash flows from finance leases									$	1.8					$	0.4

Maturity of Lease Liabilities at March 31, 2021:

(Millions of dollars)						Operating leases						Finance leases
2021						$	30.9					$	14.1
2022						41.0						18.0
2023						40.0						16.7
2024						39.7						15.2
2025						39.3						14.5
After 2025						468.0						148.9
Total lease payments						658.9						227.4
less: interest						259.6						90.0
Present value of lease liabilities						$	399.3					$	137.4

Lease Term and Discount Rate:

									Three Months Ended March 31,
									2021
Weighted average remaining lease term (years)
Finance leases									14.9
Operating leases									18.0
Weighted average discount rate
Finance leases									5.2		%
Operating leases									6.0		%

Finance Lease, Liability, Maturity

Maturity of Lease Liabilities at March 31, 2021:

(Millions of dollars)						Operating leases						Finance leases
2021						$	30.9					$	14.1
2022						41.0						18.0
2023						40.0						16.7
2024						39.7						15.2
2025						39.3						14.5
After 2025						468.0						148.9
Total lease payments						658.9						227.4
less: interest						259.6						90.0
Present value of lease liabilities						$	399.3					$	137.4

Lessee, Operating Lease, Liability, Maturity

Maturity of Lease Liabilities at March 31, 2021:

(Millions of dollars)						Operating leases						Finance leases
2021						$	30.9					$	14.1
2022						41.0						18.0
2023						40.0						16.7
2024						39.7						15.2
2025						39.3						14.5
After 2025						468.0						148.9
Total lease payments						658.9						227.4
less: interest						259.6						90.0
Present value of lease liabilities						$	399.3					$	137.4

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Assets And Liabilities, Lessee [Table Text Block]

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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=121609121&loc=SL77918701-209980

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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=121609121&loc=SL77918686-209980

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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=121609121&loc=SL77918701-209980

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