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Leases (Notes) | 3 Months Ended
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Mar. 31, 2019
Leases [Abstract] |
Lessee, Finance Leases [Text Block] | Leases The Company leases certain office space under non-cancelable operating leases, with initial terms typically ranging from one to 10 years, along with options that permit renewals for additional periods. The Company also leases certain equipment under non-cancelable operating leases, with initial terms typically ranging from one to five years. Minimum rent is expensed on a straight-line basis over the term of the lease. See Note 1 - Adoption of New Accounting Guidance - New Guidance Adopted in 2019 for additional information regarding the accounting for leases. Lease expenses are primarily included in insurance expenses in the condensed consolidated statement of income. Additional information regarding the Company’s operating leases is presented below.
(Dollars in Millions) |  | Three Months Ended Mar 31, 2019
Lease Cost: |  |
Amortization of Right-of-Use Assets |  | $ | 0.2 |
Operating Lease Cost |  | 5.7 |
Short-Term Lease Cost (1) |  | 0.1 |
Total Expense |  | 6.0 |
Less: Sublease Income (2) |  | (0.1 | )
Total Lease Cost |  | $ | 5.9 |
(1) - Leases with an initial term of twelve months or less are not recorded on the balance sheet. (2) - Sublease income consists of rent from third parties of office space and is recognized as part of other income in the Condensed Consolidated Statements of Income. Note 6 - Leases (continued) Other Information on Operating Leases Supplemental cash flow information related to the Company’s operating leases for the three months ended March 31, 2019 is as follows:
(Dollars in Millions) |  |
Operating Cash Flows from Operating Lease (Fixed Payments) |  | $ | 5.2 |
Operating Cash Flows from Operating Lease (Liability Reduction) |  | 4.7 |
Financing Cash Flows from Finance Leases |  | 0.2 |
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities |  | 9.1 |
Significant judgments and assumptions for determining lease asset and liability at March 31, 2019 are presented below.
Weighted-average Remaining Lease Term - Finance Leases |  | 1.9 years |
Weighted-average Remaining Lease Term - Operating Leases |  | 6.8 years |
Weighted-average Discount Rate - Finance Leases |  | 4.0 | %
Weighted-average Discount Rate - Operating Leases |  | 4.0 | %
Most of the Company’s leases do not provide an implicit rate. Accordingly, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of its lease payments. Future minimum lease payments under capital and operating leases at December 31, 2018 are presented below.
(Dollars in Millions) |  | Capital Leases |  | Operating Leases
2019 |  | $ | 0.7 |  |  | $ | 20.5 |
2020 |  | 0.7 |  |  | 18.4 |
2021 |  | 0.3 |  |  | 16.9 |
2022 |  | 0.2 |  |  | 15.0 |
2023 |  | — |  |  | 12.5 |
2024 and Thereafter |  | — |  |  | 27.1 |
Total Future Payments |  | $ | 1.9 |  |  | $ | 110.4 |
Less Imputed Interest |  | — |  |  |
Present Value of Minimum Capital Lease Payments |  | $ | 1.9 |  |  |
Lessee, Operating Leases [Text Block] | Leases The Company leases certain office space under non-cancelable operating leases, with initial terms typically ranging from one to 10 years, along with options that permit renewals for additional periods. The Company also leases certain equipment under non-cancelable operating leases, with initial terms typically ranging from one to five years. Minimum rent is expensed on a straight-line basis over the term of the lease. See Note 1 - Adoption of New Accounting Guidance - New Guidance Adopted in 2019 for additional information regarding the accounting for leases. Lease expenses are primarily included in insurance expenses in the condensed consolidated statement of income. Additional information regarding the Company’s operating leases is presented below.
(Dollars in Millions) |  | Three Months Ended Mar 31, 2019
Lease Cost: |  |
Amortization of Right-of-Use Assets |  | $ | 0.2 |
Operating Lease Cost |  | 5.7 |
Short-Term Lease Cost (1) |  | 0.1 |
Total Expense |  | 6.0 |
Less: Sublease Income (2) |  | (0.1 | )
Total Lease Cost |  | $ | 5.9 |
(1) - Leases with an initial term of twelve months or less are not recorded on the balance sheet. (2) - Sublease income consists of rent from third parties of office space and is recognized as part of other income in the Condensed Consolidated Statements of Income. Note 6 - Leases (continued) Other Information on Operating Leases Supplemental cash flow information related to the Company’s operating leases for the three months ended March 31, 2019 is as follows:
(Dollars in Millions) |  |
Operating Cash Flows from Operating Lease (Fixed Payments) |  | $ | 5.2 |
Operating Cash Flows from Operating Lease (Liability Reduction) |  | 4.7 |
Financing Cash Flows from Finance Leases |  | 0.2 |
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities |  | 9.1 |
Significant judgments and assumptions for determining lease asset and liability at March 31, 2019 are presented below.
Weighted-average Remaining Lease Term - Finance Leases |  | 1.9 years |
Weighted-average Remaining Lease Term - Operating Leases |  | 6.8 years |
Weighted-average Discount Rate - Finance Leases |  | 4.0 | %
Weighted-average Discount Rate - Operating Leases |  | 4.0 | %
Most of the Company’s leases do not provide an implicit rate. Accordingly, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of its lease payments. Future minimum lease payments under capital and operating leases at December 31, 2018 are presented below.
(Dollars in Millions) |  | Capital Leases |  | Operating Leases
2019 |  | $ | 0.7 |  |  | $ | 20.5 |
2020 |  | 0.7 |  |  | 18.4 |
2021 |  | 0.3 |  |  | 16.9 |
2022 |  | 0.2 |  |  | 15.0 |
2023 |  | — |  |  | 12.5 |
2024 and Thereafter |  | — |  |  | 27.1 |
Total Future Payments |  | $ | 1.9 |  |  | $ | 110.4 |
Less Imputed Interest |  | — |  |  |
Present Value of Minimum Capital Lease Payments |  | $ | 1.9 |  |  |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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