Leases

12 Months Ended

Dec. 31, 2019

7. Leases

As discussed in Note 2, we adopted ASU 2016-02 as of January 1, 2019. We have operating and finance leases for buildings and certain machinery and equipment. Operating leases are included in operating lease assets, other current liabilities, and operating lease liabilities in our consolidated balance sheets. Amounts recognized for finance leases as of and for the year ended December 31, 2019 were immaterial.

Operating lease expense recognized in the consolidated statement of comprehensive income for the year ended December 31, 2019 was $51.0 million, including approximately $8.2 million of short-term and variable lease costs for the year ended December 31, 2019.

Other information related to leases was as follows:

(In millions, except lease term and discount rate)	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	41.3
Right-of-use assets obtained in exchange for operating lease obligations	$	24.5
Weighted average remaining lease term - operating leases	7.1 years
Weighted average discount rate - operating leases		4.2	%

Total lease payments under non-cancellable operating leases as of December 31, 2019 were as follows:

(In millions)
Year Ending December 31,
2020	$	39.1
2021		33.4
2022		26.8
2023		22.6
2024		18.9
Thereafter		61.4
Total lease payments		202.2
Less imputed interest		(29.3	)
Total	$	172.9
Reported as of December 31, 2019
Other current liabilities	$	33.1
Operating lease liabilities		139.8
Total	$	172.9