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v3.22.1

Leases (Tables) | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Components of Lease Expense | The components of lease expense during the three months ended March 31, 2022 and 2021 were as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  | (Dollars in millions)
Operating lease cost: |  |  |  |  |  |  |
Operating lease cost |  |  |  |  | $ | 4.7 |  |  | $ | 6.0 |
Short-term lease cost |  |  |  |  | 6.3 |  |  | 3.4 |
Variable lease cost |  |  |  |  | 1.6 |  |  | 0.5 |
Sublease income |  |  |  |  | (0.4) |  |  | (0.5) |
Total operating lease cost |  |  |  |  | $ | 12.2 |  |  | $ | 9.4 |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  |  |  | $ | 1.5 |  |  | $ | 0.6 |
Interest on lease liabilities |  |  |  |  | 0.6 |  |  | 0.5 |
Total finance lease cost |  |  |  |  | $ | 2.1 |  |  | $ | 1.1 |
Schedule of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases at March 31, 2022 and December 31, 2021 was as follows:
| March 31, 2022 |  | December 31, 2021
| (Dollars in millions)
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 33.0 |  |  | $ | 35.5 |
Accounts payable and accrued expenses | $ | 16.1 |  |  | $ | 16.4 |
Operating lease liabilities, less current portion | 24.6 |  |  | 27.2 |
Total operating lease liabilities | $ | 40.7 |  |  | $ | 43.6 |
Finance leases: |  |  |
Property, plant, equipment and mine development | $ | 32.4 |  |  | $ | 32.2 |
Accumulated depreciation | (9.0) |  |  | (7.4) |
Property, plant, equipment and mine development, net | $ | 23.4 |  |  | $ | 24.8 |
Current portion of long-term debt | $ | 15.0 |  |  | $ | 15.3 |
Long-term debt, less current portion | 12.6 |  |  | 14.0 |
Total finance lease liabilities | $ | 27.6 |  |  | $ | 29.3 |
Weighted average remaining lease term (years) |  |  |
Operating leases | 2.9 |  |
Finance leases | 6.7 |  |
Weighted average discount rate |  |  |
Operating leases | 7.0 | % |  |
Finance leases | 8.2 | % |  |
Schedule of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases during the three months ended March 31, 2022 and 2021 was as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  | (Dollars in millions)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows for operating leases |  |  |  |  | $ | 5.9 |  |  | $ | 8.3 |
Operating cash flows for finance leases |  |  |  |  | 0.6 |  |  | 0.7 |
Financing cash flows for finance leases |  |  |  |  | 2.2 |  |  | 1.3 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |
Operating leases |  |  |  |  | 1.6 |  |  | 3.1 |
Finance leases |  |  |  |  | — |  |  | 3.6 |
Lessee, Operating Lease, Liability, Maturity | The contractual maturities of lease liabilities were as follows:
Period Ending December 31, |  | Operating Leases |  | Finance Leases
|  | (Dollars in millions)
2022 |  | $ | 13.7 |  |  | $ | 8.7 |
2023 |  | 17.6 |  |  | 6.0 |
2024 |  | 6.3 |  |  | 5.1 |
2025 |  | 3.6 |  |  | 4.9 |
2026 |  | 3.6 |  |  | 2.5 |
2027 and thereafter |  | 0.8 |  |  | 7.2 |
Total lease payments |  | 45.6 |  |  | 34.4 |
Less imputed interest |  | (4.9) |  |  | (6.8) |
Total lease liabilities |  | $ | 40.7 |  |  | $ | 27.6 |
Finance Lease, Liability, Maturity | The contractual maturities of lease liabilities were as follows:
Period Ending December 31, |  | Operating Leases |  | Finance Leases
|  | (Dollars in millions)
2022 |  | $ | 13.7 |  |  | $ | 8.7 |
2023 |  | 17.6 |  |  | 6.0 |
2024 |  | 6.3 |  |  | 5.1 |
2025 |  | 3.6 |  |  | 4.9 |
2026 |  | 3.6 |  |  | 2.5 |
2027 and thereafter |  | 0.8 |  |  | 7.2 |
Total lease payments |  | 45.6 |  |  | 34.4 |
Less imputed interest |  | (4.9) |  |  | (6.8) |
Total lease liabilities |  | $ | 40.7 |  |  | $ | 27.6 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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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