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Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Components of operating and finance leases

Additional information regarding the Company’s operating and finance leases is as follows (in millions, except for lease term and discount rate information):

Leases		Balance Sheet Classification		September 30, 2019
Assets:
Operating		Operating lease assets		$	204.7
Finance		Property and equipment, net		59.0
Total				$	263.7
Liabilities:
Current:
Operating		Current operating lease liabilities		$	23.9
Finance		Current maturities of long-term debt		6.4
Noncurrent:
Operating		Operating lease liabilities, net of current portion		195.5
Finance		Long-term debt, net of current maturities		59.7
Total				$	285.5

Components of lease expense

Lease Expense		Income Statement Classification		Three Months Ended September 30, 2019				Nine Months Ended September 30, 2019
Operating		Selling, general and administrative expenses		$	10.0			$	31.1
Operating		Asset impairments		1.4				1.4
Variable		Selling, general and administrative expenses		0.6				1.6
Sublease income		Selling, general and administrative expenses		(0.4		)		(1.0		)
Finance:
Amortization of lease assets		Depreciation and amortization expense		1.7				4.1
Interest on lease liabilities		Other interest expense, net		1.5				3.5
Net lease expense				$	14.8			$	40.7

		September 30, 2019
Maturities of Lease Liabilities		Operating Leases				Finance Leases
2019 (excluding the nine months ended September 30, 2019)		$	6.8			$	4.6
2020		38.5				8.5
2021		36.7				8.5
2022		32.4				8.4
2023		29.4				7.2
Thereafter		170.0				65.6
Total lease payments		313.8				102.8
Less: Interest		(94.4		)		(36.7		)
Present value of lease liabilities		$	219.4			$	66.1

Weighted-Average Lease Term and Discount Rate		September 30, 2019
Weighted-average remaining lease terms:
Operating		11.5
Financing		14.6
Weighted-average discount rates:
Operating		5.9	%
Financing		7.8	%

Maturities of operating lease liabilities

		September 30, 2019
Maturities of Lease Liabilities		Operating Leases				Finance Leases
2019 (excluding the nine months ended September 30, 2019)		$	6.8			$	4.6
2020		38.5				8.5
2021		36.7				8.5
2022		32.4				8.4
2023		29.4				7.2
Thereafter		170.0				65.6
Total lease payments		313.8				102.8
Less: Interest		(94.4		)		(36.7		)
Present value of lease liabilities		$	219.4			$	66.1

Maturities of finance lease liabilities

		September 30, 2019
Maturities of Lease Liabilities		Operating Leases				Finance Leases
2019 (excluding the nine months ended September 30, 2019)		$	6.8			$	4.6
2020		38.5				8.5
2021		36.7				8.5
2022		32.4				8.4
2023		29.4				7.2
Thereafter		170.0				65.6
Total lease payments		313.8				102.8
Less: Interest		(94.4		)		(36.7		)
Present value of lease liabilities		$	219.4			$	66.1

Supplemental cash flow information related to leases

Other Information		Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	31.1
Operating cash flows from finance leases		$	3.5
Financing cash flows from finance leases		$	2.7
Right-of-use assets obtained in exchange for lease obligations:
Operating leases, initial recognition		$	18.2
Operating leases, modifications and remeasurements		$	(9.5	)
Finance leases, initial recognition		$	14.0
Finance leases, modifications and remeasurements		$	8.2

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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

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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

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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

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