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Leases (Tables)

3 Months Ended

Mar. 31, 2021

The ROU asset and lease liability balances as of March 31, 2021 and December 31, 2020 were as follows:


(in Millions)	Classification	March 31, 2021		December 31, 2020
Assets

Operating lease ROU assets	Other assets including long-term receivables, net	$	141.5	$	147.3

Liabilities

Operating lease current liabilities	Accrued and other liabilities	$	25.0	$	25.6



Operating lease noncurrent liabilities	Other long-term liabilities	145.0		151.1

The components of lease expense for the three months ended March 31, 2021 and 2020 were as follows:


		Three Months Ended March 31,
(in Millions)	Lease Cost Classification	2021		2020
Lease Cost
Operating lease cost	Costs of sales and services / Selling, general and administrative expenses	$	8.6	$	10.0




Variable lease cost	Costs of sales and services / Selling, general and administrative expenses	1.2		1.4

Total lease cost		$	9.8	$	11.4


	March 31, 2021
Operating Lease Term and Discount Rate
Weighted-average remaining lease term (years)	9.4


Weighted-average discount rate	4.2	%


	Three Months Ended March 31,
(in Millions)	2021		2020
Other Information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(8.9)	$	(10.1)


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	$	2.7	$	0.9

The following table represents our future minimum operating lease payments as of, and subsequent to, March 31, 2021 under ASC 842:


(in Millions)	Operating Leases Total
Maturity of Lease Liabilities
2021 (excluding the three months ending March 31, 2021)	$	23.6
2022	27.3
2023	21.6
2024	17.7
2025	16.8
Thereafter	102.8
Total undiscounted lease payments	$	209.8
Less: Present value adjustment	(39.8)
Present value of lease liabilities	$	170.0