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Leases (Notes)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lessee, Operating Leases [Text Block]

Note 6 - Leasing

The Company enters into operating and finance leases for manufacturing facilities, warehouses, sales offices, information technology equipment, plant equipment, vehicles and certain other equipment.

Lease expense for the three and nine months ended September 30, 2019 was as follows:

	Three Months Ended			Nine Months Ended
	September 30, 2019			September 30, 2019
Operating lease expense	$	9.0		$	27.7
Amortization of right-of-use assets on finance leases	0.3			0.9
Total lease expense	$	9.3		$	28.6

The following tables present the impact of leasing on the Consolidated Balance Sheet.

Operating Leases	September 30, 2019
Lease assets:
Operating lease assets	$	115.0
Lease liabilities:
Short-term operating lease liabilities	$	28.0
Long-term operating lease liabilities	72.3
Total operating lease liabilities	$	100.3

Finance Leases	September 30, 2019
Lease assets:
Property, plant and equipment, net	$	3.6
Lease liabilities:
Current portion of long-term debt	$	0.3
Long-term debt	2.5
Total finance lease liabilities	$	2.8

Future minimum lease payments under non-cancellable leases at September 30, 2019 were as follows:

	Operating Leases			Finance Leases
Year Ending December 31,
2019	$	8.5		$	0.3
2020	29.3			0.9
2021	20.5			0.9
2022	15.0			0.7
2023	11.2			0.2
Thereafter	26.6			—
Total future minimum lease payments	111.1			3.0
Less: imputed interest	(10.8		)	(0.2		)
Total	$	100.3		$	2.8

The following tables present other information related to leases:

	Three Months Ended			Nine Months Ended
	September 30, 2019			September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9.1		$	26.8
Financing cash flows from finance leases	0.2			1.3
Lease assets added in the period:
Operating leases	$	14.6		$	54.0
Finance leases	0.3			1.1

	September 30, 2019
Weighted-average remaining lease term:
Operating leases	5.4 years
Finance leases	3.4 years
Weighted-average discount rate:
Operating leases	3.90	%
Finance leases	2.70	%

X

- References

No definition available.

+ Details

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X

- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

+ Details

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