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Leases (Tables) | 9 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
Asset and lease liability | The ROU asset and lease liability balances as of September 30, 2021 and December 31, 2020 were as follows:
(in Millions) | Classification | September 30, 2021 |  | December 31, 2020
Assets |  |  |  |
Operating lease ROU assets | Other assets including long-term receivables, net | $ | 140.3 |  |  | $ | 147.3 |
Liabilities |  |  |  |
Operating lease current liabilities | Accrued and other liabilities | $ | 23.8 |  |  | $ | 25.6 |
Operating lease noncurrent liabilities | Other long-term liabilities | 144.5 |  |  | 151.1 |
Components of lease expense, lease term and discount rate | The components of lease expense for the three and nine months ended September 30, 2021 and 2020 were as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in Millions) | Lease Cost Classification | 2021 |  | 2020 |  | 2021 |  | 2020
Lease Cost |  |  |  |  |  |  |  |
Operating lease cost | Costs of sales and services / Selling, general and administrative expenses | $ | 8.3 |  |  | $ | 10.1 |  |  | $ | 25.6 |  |  | $ | 29.9 |
Variable lease cost | Costs of sales and services / Selling, general and administrative expenses | 1.2 |  |  | 1.0 |  |  | 3.6 |  |  | 3.6 |
Total lease cost |  | $ | 9.5 |  |  | $ | 11.1 |  |  | $ | 29.2 |  |  | $ | 33.5 |
| September 30, 2021
Operating Lease Term and Discount Rate |
Weighted-average remaining lease term (years) | 9.3
Weighted-average discount rate | 4.1 | %
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in Millions) | 2021 |  | 2020 |  | 2021 |  | 2020
Other Information |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | (7.9) |  |  | $ | (10.2) |  |  | $ | (25.5) |  |  | $ | (30.1) |
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 | $ | 0.8 |  |  | $ | 3.5 |  |  | $ | 16.7 |  |  | $ | 6.4 |
Future minimum lease payments | The following table represents our future minimum operating lease payments as of, and subsequent to, September 30, 2021 under ASC 842:
(in Millions) |  |  |  |  | Operating Leases Total
Maturity of Lease Liabilities |  |  |  |  |
2021 (excluding the nine months ending September 30, 2021) |  |  |  |  | $ | 7.8 |
2022 |  |  |  |  | 28.7 |
2023 |  |  |  |  | 23.2 |
2024 |  |  |  |  | 19.1 |
2025 |  |  |  |  | 18.1 |
Thereafter |  |  |  |  | 109.1 |
Total undiscounted lease payments |  |  |  |  | $ | 206.0 |
Less: Present value adjustment |  |  |  |  | (37.7) |
Present value of lease liabilities |  |  |  |  | $ | 168.3 |

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- 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=123408670&loc=SL77918686-209980 + Details
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- 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=123408670&loc=SL77918701-209980 + Details
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