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Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Assets And Liabilities, Lessee | Supplemental balance sheet information related to leases is summarized as follows:
|  |  | September 30, 2019
Assets | Classification |  |
Operating lease assets, net | Other assets (1) |  | $ | 96.3 |
Finance lease assets, net | Property, plant and equipment, net (2) |  | 67.1 |
Total leased assets |  |  | $ | 163.4 |
Liabilities |  |  |
Current |  |  |
Operating lease liabilities | Other accrued liabilities |  | $ | 28.5 |
Finance lease liabilities | Current portion of borrowings |  | 2.9 |
Noncurrent |  |  |
Operating lease liabilities | Other liabilities |  | 70.9 |
Finance lease liabilities | Long-term borrowings |  | 62.1 |
Total lease liabilities |  |  | $ | 164.4 |
(1) Operating lease assets are recorded net of accumulated amortization of $13.8 million as of September 30, 2019. (2) Finance lease assets are recorded net of accumulated amortization of $3.4 million as of September 30, 2019.
Lease, Cost | Components of lease expense are summarized as follows:
|  | Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019
Finance lease cost |  |  |  |
Amortization of right-of-use assets |  | $ | 1.1 |  |  | $ | 3.1 |
Interest on lease liabilities |  | 0.9 |  |  | 2.6 |
Operating lease cost |  | 9.3 |  |  | 27.3 |
Variable lease cost |  | 0.6 |  |  | 2.5 |
Short-term lease cost |  | 0.4 |  |  | 0.8 |
Net lease cost |  | $ | 12.3 |  |  | $ | 36.3 |
Supplemental cash flow information related to leases is summarized as follows:
|  | Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases |  | $ | 27.5 |
Operating cash flows from finance leases |  | $ | 2.6 |
Financing cash flows from finance leases |  | $ | 2.1 |
Right-of-use assets obtained in exchange for lease obligations: |  |
Operating leases |  | $ | 17.9 |
Finance leases |  | $ | — |
Schedule of Lease Terms | Lease term and discount rate information is summarized as follows:
|  | September 30, 2019
Weighted-average remaining lease term (years) |  |
Operating leases |  | 5.1 |
Finance leases |  | 17.0 |
Weighted-average discount rate |  |
Operating leases |  | 3.9 | %
Finance leases |  | 5.2 | %
Lessee, Operating Lease, Liability, Maturity | Maturities of lease liabilities as of September 30, 2019 is as follows:
|  | Operating Leases |  | Finance Leases
Year |  |  |  |
Remainder of 2019 |  | $ | 7.2 |  |  | $ | 0.7 |
2020 |  | 30.9 |  |  | 5.4 |
2021 |  | 24.0 |  |  | 5.5 |
2022 |  | 16.9 |  |  | 5.6 |
2023 |  | 12.0 |  |  | 5.7 |
Thereafter |  | 22.6 |  |  | 78.4 |
Total lease payments |  | $ | 113.6 |  |  | $ | 101.3 |
Less: imputed interest |  | 14.2 |  |  | 36.3 |
Present value of lease liabilities |  | $ | 99.4 |  |  | $ | 65.0 |
Finance Lease, Liability, Maturity | Maturities of lease liabilities as of September 30, 2019 is as follows:
|  | Operating Leases |  | Finance Leases
Year |  |  |  |
Remainder of 2019 |  | $ | 7.2 |  |  | $ | 0.7 |
2020 |  | 30.9 |  |  | 5.4 |
2021 |  | 24.0 |  |  | 5.5 |
2022 |  | 16.9 |  |  | 5.6 |
2023 |  | 12.0 |  |  | 5.7 |
Thereafter |  | 22.6 |  |  | 78.4 |
Total lease payments |  | $ | 113.6 |  |  | $ | 101.3 |
Less: imputed interest |  | 14.2 |  |  | 36.3 |
Present value of lease liabilities |  | $ | 99.4 |  |  | $ | 65.0 |
Sale Leaseback Transactions | For comparability purposes, the following table reflects the total remaining cash payments related to all transactions during the rental term at December 31, 2018 associated with three lease arrangements that were treated as sale-leaseback financing transactions under ASC 840 and disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2018:
|  | Sale-leaseback Obligations
2019 |  | $ | 5.3 |
2020 |  | 5.4 |
2021 |  | 5.4 |
2022 |  | 5.7 |
2023 |  | 5.7 |
Thereafter |  | 77.1 |
Total minimum payments |  | $ | 104.6 |
Schedule of Future Minimum Rental Payments for Operating Leases | At December 31, 2018, future minimum payments under non-cancelable operating leases under ASC 840 were as follows:
|  | Operating Leases
2019 |  | $ | 34.6 |
2020 |  | 23.5 |
2021 |  | 17.1 |
2022 |  | 13.2 |
2023 |  | 11.5 |
Thereafter |  | 16.6 |
Total minimum payments |  | $ | 116.5 |

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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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