XML 51 R38.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Leases (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Leases [Abstract] |
Summary of Lease Payments Captured in Lease Receivable | All lease payments are primarily fixed in nature and therefore captured in the lease receivable. Our lease receivable balance at December 31, 2019 was:
(in millions) |  | Short-Term (12 months or less) |  | Long-Term |  | Total
Total lease receivable (Sales-type and Operating) |  | $ | 4.9 |  |  | $ | 10.6 |  |  | $ | 15.5 |
Assets And Liabilities, Lessee | The following table details our lease obligations included in our Consolidated Balance Sheets.
(in millions) |  | December 31, 2019
Other non-current assets: |  |
Finance leases - ROU assets |  | $ | 54.8 |
Finance leases - Accumulated depreciation |  | (15.0 | )
Operating lease right-of-use-assets: |  |
Operating leases - ROU assets |  | 118.8 |
Operating leases - Accumulated depreciation |  | (28.7 | )
Total lease assets |  | $ | 129.9 |
Current portion of long-term debt: |  |
Finance leases |  | $ | (10.4 | )
Current portion of operating lease liabilities: |  |
Operating leases |  | (26.2 | )
Long-term debt, less current portion: |  |
Finance leases |  | (28.7 | )
Long-term operating lease liabilities, less current portion: |  |
Operating leases |  | (65.7 | )
Total lease liabilities |  | $ | (131.0 | )
Finance Leases, Future Minimum Annual Rental Commitments | At December 31, 2019, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:
(in millions) |  | Finance leases |  | Operating leases
2020 |  | $ | 12.1 |  |  | $ | 30.6 |
2021 |  | 10.5 |  |  | 24.0 |
2022 |  | 5.9 |  |  | 16.0 |
2023 |  | 3.2 |  |  | 11.2 |
2024 |  | 1.8 |  |  | 7.5 |
Thereafter |  | 13.4 |  |  | 16.1 |
Total lease payments |  | 46.9 |  |  | 105.4 |
Less: Interest |  | (7.8 | ) |  | (13.5 | )
Present value of lease liabilities |  | $ | 39.1 |  |  | $ | 91.9 |
Operating Leases, Future Minimum Annual Rental Commitments | At December 31, 2019, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:
(in millions) |  | Finance leases |  | Operating leases
2020 |  | $ | 12.1 |  |  | $ | 30.6 |
2021 |  | 10.5 |  |  | 24.0 |
2022 |  | 5.9 |  |  | 16.0 |
2023 |  | 3.2 |  |  | 11.2 |
2024 |  | 1.8 |  |  | 7.5 |
Thereafter |  | 13.4 |  |  | 16.1 |
Total lease payments |  | 46.9 |  |  | 105.4 |
Less: Interest |  | (7.8 | ) |  | (13.5 | )
Present value of lease liabilities |  | $ | 39.1 |  |  | $ | 91.9 |
Operating Leases, Future Minimum Rental Commitments Prior to Adoption of ASC 842 | At December 31, 2018, operating leases estimated future minimum annual rental commitments under non-cancelable real and personal property leases, prior to the adoption of ASC 842, were as follows:
(in millions) |  | Operating leases(1)
2019 |  | $ | 28.5 |
2020 |  | 20.1 |
2021 |  | 14.7 |
2022 |  | 10.1 |
2023 |  | 6.9 |
Thereafter |  | 17.0 |
Total lease payments |  | $ | 97.3 |
(1) Amounts as of December 31, 2018 are based on ASC 840, and were superseded with our adoption of ASC 842, Leases on January 1, 2019. Refer to Note 2, "Recently Adopted and Issued Accounting Standards," of the Notes to Consolidated Financial Statements for additional information on our adoption of new accounting standards.
Schedule of Lease Costs and Other Information | The following lease cost is included in our Consolidated Statements of Operations:
(in millions) |  | December 31, 2019
Lease cost(1) |  |
Finance leases |  |
Amortization of ROU assets |  | $ | 9.1 |
Interest on lease liabilities |  | 2.1 |
Operating leases |  | 32.9 |
Short-term lease cost |  | 5.9 |
Variable lease cost |  | 5.2 |
Total lease cost |  | $ | 55.2 |
(1) | With the exception of Interest on lease liabilities, we record lease costs to Cost of Sales or Selling, general and administrative expenses on the Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities are recorded to Interest expense, net on the Consolidated Statement of Operations.
(in millions) |  | December 31, 2019
Other information: |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows - finance leases |  | $ | 5.1 |
Operating cash flows - operating leases |  | $ | 34.7 |
Financing cash flows - finance leases |  | $ | 9.3 |
ROU assets obtained in exchange for new finance lease liabilities |  | $ | 21.3 |
ROU assets obtained in exchange for new operating lease liabilities |  | $ | 34.7 |
Weighted average information: |  |
Finance leases |  |
Remaining lease term (in years) |  | 6.4 |
Discount rate |  | 4.9 | %
Operating leases |  |
Remaining lease term (in years) |  | 4.9 |
Discount rate |  | 5.2 | %

X
- Definition Assets And Liabilities, Lessee [Table Text Block] + References No definition available. + Details
Name: | see_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix: | see_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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/otherTransitionRef -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
Name: | us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of sale leaseback transactions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=77913982&loc=d3e50796-112755 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84164451&loc=d3e36991-112694 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 40 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77914019&loc=d3e50824-112756 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 40 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77888430&loc=SL77919786-209982 + Details
Name: | us-gaap_ScheduleOfSaleLeasebackTransactionsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration