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Leases Leases (Tables)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Future minimum rental payments under non-cancelable operating leases as of December 31, 2018 were as follows (in millions):




2019	$	32.3
2020	18.7
2021	11.9
2022	9.2
2023	8.9
Thereafter	15.2
Total lease payments	$	96.2

Components of Lease Expense

The components of lease expense as of December 31, 2019 is as follows (in millions):




Long-term operating lease cost	$	29.5
Short-term operating lease cost	12.2
Sublease income	(2.4		)
Total operating lease cost	$	39.3

Supplemental Balance Sheet Information

Supplemental balance sheet information related to our operating leases is as follows (in millions, except lease term and discount rate) as of December 31, 2019:




Operating lease right-of-use assets⁽¹⁾	$	58.1

Current lease liability⁽¹⁾	$	21.1
Long-term lease liability⁽¹⁾	51.8
Total operating lease liabilities	$	72.9

Weighted-average remaining lease term (in years)	5.1

Weighted-average discount rate ⁽²⁾	8.23		%


⁽¹⁾	The right-of-use assets include $12.2 million acquired 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 December 31, 2019 were as follows (in millions):




2020	$	25.4
2021	18.4
2022	12.6
2023	10.7
2024	8.1
Thereafter	17.2
Total lease payments	$	92.4
Less imputed interest	19.5
Total	$	72.9