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Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Asset and lease liability

The ROU asset and lease liability balances as of June 30, 2019 were as follows:

(in Millions)	Classification	Balance at June 30, 2019
Assets
Operating lease ROU assets	Other assets including long-term receivables, net	$	165.8
Liabilities
Operating lease current liabilities	Accrued and other liabilities	$	30.7
Operating lease noncurrent liabilities	Other long-term liabilities	165.3

Components of lease expense, lease term and discount rate

The components of lease expense for the three and six months ended June 30, 2019 were as follows:

(in Millions)	Lease Cost Classification	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Operating lease cost	Cost of sales and services / Selling, general and administrative expenses	$	10.0		$	20.0
Variable lease cost	Cost of sales and services / Selling, general and administrative expenses	1.5			2.8
Total lease cost		$	11.5		$	22.8

	June 30, 2019
Operating Lease Term and Discount Rate
Weighted-average remaining lease term (years)	10.3
Weighted-average discount rate	4.3	%

(in Millions)	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(10.3	)	$	(20.6	)
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3.6		$	3.9

Future minimum lease payments

The following table represents our future minimum operating lease payments as of, and subsequent to, June 30, 2019 under ASC 842:

(in Millions)	Operating Leases Total
Maturity of Lease Liabilities
2019 (excluding the six months ending June 30, 2019)	$	19.4
2020	34.9
2021	24.4
2022	21.0
2023	16.6
Thereafter	131.0
Total undiscounted lease payments	$	247.3
Less: Present value adjustment	(51.3		)
Present value of lease liabilities	$	196.0

Future minimum operating lease payments under ASC 840

Our future minimum lease payments as of December 31, 2018 under ASC 840 were as follows:

	Future Minimum Lease Payments
(in Millions)	2019				2020				2021				2022				2023				Thereafter
Operating Leases	$	36.7			$	31.7			$	21.0			$	17.5			$	13.5			$	107.5
Capital Lease	2.9				2.9				3.1				3.1				3.1				4.3

Future minimum capital lease payments under ASC 840

Our future minimum lease payments as of December 31, 2018 under ASC 840 were as follows:

	Future Minimum Lease Payments
(in Millions)	2019				2020				2021				2022				2023				Thereafter
Operating Leases	$	36.7			$	31.7			$	21.0			$	17.5			$	13.5			$	107.5
Capital Lease	2.9				2.9				3.1				3.1				3.1				4.3

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
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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.

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Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value.

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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.

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