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Leases (Tables)

9 Months Ended

Sep. 30, 2019

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