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Leases (Tables)

9 Months Ended

Sep. 30, 2019

The components of lease expense are as follows (in millions):


	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Long-term operating lease cost	$	8.3	$	21.5
Short-term operating lease cost	1.3		5.6
Sublease income	(.7)		(1.7)
Total operating lease cost	$	8.9	$	25.4

Supplemental Balance Sheet Information

Supplemental balance sheet information related to our operating leases is as follows (in millions, except lease term and discount rate):


	September 30, 2019
Operating lease right-of-use assets⁽¹⁾	$	64.9

Current lease liability⁽¹⁾	$	23.4
Long-term lease liability⁽¹⁾	53.5
Total operating lease liabilities	$	76.9

Weighted-average remaining lease term (in years)	5.1

Weighted-average discount rate ⁽²⁾	8.18		%

⁽¹⁾The right-of-use assets include $12.2 million assumed in the Rowan Transaction. The current and long-term lease liabilities include $3.9 million and $10.6 million, respectively, assumed in the Rowan Transaction.

⁽²⁾Represents our estimated incremental borrowing cost on a secured basis for similar terms as the underlying leases.

Maturities of Lease Liabilities

Maturities of lease liabilities as of September 30, 2019 were as follows (in millions):


Year Ending December 31,	Total
2019 (excluding the nine months ended September 30, 2019)	$	8.4
2020	24.2
2021	17.6
2022	12.0
2023	10.4
Thereafter	22.2
Total lease payments	$	94.8
Less imputed interest	17.9
Total	$	76.9