XML 65 R18.htm IDEA: XBRL DOCUMENT
v3.19.3

Leases Leases | 9 Months Ended
--- | ---
Sep. 30, 2019
Leases [Abstract] |
Leases | Leases We lease facilities, vehicles, CompuSafe® units, computers and other equipment under long-term operating and financing leases with varying terms. Most of the operating leases contain renewal and/or purchase options at our sole discretion. The renewal periods differ by asset class and by country and are included in our determination of lease term if we determine we are reasonably certain to exercise the option. We have taken the component election for all material asset categories, except CompuSafe units. This election allows us to account for lease components (e.g., fixed payments or variable payments that depend on a rate that can be determined at commencement, including rent for the right to use the asset) together with nonlease components (e.g., other fixed payments that deliver a good or service including common-area maintenance costs) in the calculation of the right-of-use asset and corresponding liability. Variable costs, such as inflation adjusted payments for facilities, or nonlease components that vary periodically (included as part of the component election), are expensed as incurred. Our leases do not contain any material residual value guarantees or material restrictive covenants. The components of lease assets and liabilities were as follows:
(In millions) | Balance sheet classification | September 30, 2019
Assets: |  |
Operating lease assets | Right-of-use assets, net | $ | 269.3 |
Finance lease assets | Property and equipment, net | 151.3 |
Total leased assets |  | $ | 420.6 |
Liabilities: |  |
Current: |  |
Operating | Accrued liabilities | $ | 64.3 |
Financing | Current maturities of long-term debt | 29.3 |
Noncurrent: |  |
Operating | Lease liabilities | 217.9 |
Financing | Long-term debt | 110.4 |
Total lease liabilities |  | $ | 421.9 |
The components of lease expense were as follows:
(In millions) | 2019
Nine Months Ended September 30, |
Operating lease cost(a) | $ | 71.2 |
Short-term lease cost | 18.6 |
Financial lease cost: |
Amortization of right-of-use assets | 20.6 |
Interest on lease liabilities | 5.5 |
Total lease cost | $ | 115.9 |
(a) | Includes variable lease costs, which are immaterial.
Net rent expense and amortization expense and interest on financing leases included in continuing operations was $109.7 million for the nine months ended September 30, 2018. Other information related to leases was as follows:
(In millions, except for lease term and discount rate) | 2019
Nine Months Ended September 30, |
Supplemental Cash Flows Information |
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | $ | 70.8 |
Operating cash flows from finance leases | 5.5 |
Financing cash flows from finance leases | 21.1 |
Right-of-use assets obtained in exchange for lease obligations: |
Operating leases | 42.9 |
Finance leases | 46.2 |
Weighted Average Remaining Lease Term |
Operating leases | 7.4 years |
Finance leases | 5.2 years |
Weighted Average Discount Rate |
Operating leases | 7.0 | %
Finance leases | 5.2 | %
As of December 31, 2018, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:
(In millions) | Facilities |  | Vehicles |  | Other |  | Total
2019 | $ | 51.7 |  |  | 9.7 |  |  | 21.6 |  |  | 83.0 |
2020 | 46.2 |  |  | 5.5 |  |  | 15.5 |  |  | 67.2 |
2021 | 39.5 |  |  | 2.3 |  |  | 9.5 |  |  | 51.3 |
2022 | 33.8 |  |  | 0.6 |  |  | 5.3 |  |  | 39.7 |
2023 | 29.4 |  |  | 0.1 |  |  | 2.3 |  |  | 31.8 |
Later years | 130.3 |  |  | — |  |  | — |  |  | 130.3 |
| $ | 330.9 |  |  | 18.2 |  |  | 54.2 |  |  | 403.3 |
As of December 31, 2018, minimum repayments of long-term debt under financing leases were as follows:
(In millions) |
2019 | $ | 25.1 |
2020 | 23.5 |
2021 | 21.7 |
2022 | 19.7 |
2023 | 16.2 |
Later years | 14.3 |
Total | $ | 120.5 |

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 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration