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Leases (Tables) | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Lease, Cost | Supplemental cash flow information related to the Company’s operating leases for the year-ended December 31, 2019 is as follows:
DOLLARS IN MILLIONS |  | 2019
Operating Cash Flows from Operating Leases (Fixed Payments) |  | $ | 20.0 |
Operating Cash Flows from Operating Leases (Liability Reduction) |  | 17.6 |
Financing Cash Flows from Finance Leases |  | 0.7 |
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities |  | 25.9 |
Significant judgments and assumptions for determining lease asset and liability as December 31, 2019 are presented below.
Weighted-average Remaining Lease Term - Finance Leases |  | 1.7 years |
Weighted-average Remaining Lease Term - Operating Leases |  | 7.0 years |
Weighted-average Discount Rate - Finance Leases |  | 4.0 | %
Weighted-average Discount Rate - Operating Leases |  | 3.9 | %
Lease expenses are primarily included in insurance expenses in the Consolidated Statements of Income. Additional information regarding the Company’s operating leases is presented below.
DOLLARS IN MILLIONS |  | 2019
Lease Cost: |  |
Amortization of Right-of-Use Assets - Finance Leases |  | $ | 0.7 |
Operating Lease Cost |  | 20.7 |
Short-Term Lease Cost (1) |  | 0.1 |
Total Expense |  | 21.5 |
Less: Sublease Income (2) |  | 0.1 |
Total Lease Cost |  | $ | 21.4 |
(1) - Leases with an initial term of twelve months of 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 Consolidated Statements of Income. The following table presents operating lease ROU assets and lease liabilities.
DOLLARS IN MILLIONS |  | 2019
Operating Lease Right-of-Use Assets |  | $ | 75.6 |
Operating Lease Liabilities |  | 93.2 |
The following table presents operating lease ROU assets and lease liabilities at December 31, 2019.
DOLLARS IN MILLIONS |  | 2019
Operating Lease Right-of-Use Assets |  | $ | 18.6 |
Operating Lease Liabilities |  | 31.3 |
Supplemental cash flow information related to Kemper’s operating leases for the year-ended December 31, 2019 follows.
DOLLARS IN MILLIONS |  | 2019
Operating Cash Flows from Operating Leases (Fixed Payments) |  | $ | 1.2 |
Operating Cash Flows from Operating Leases (Liability Reduction) |  | 1.0 |
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities |  | 7.9 |
Significant judgments and assumptions for determining lease asset and liability as December 31, 2019 are presented below.
Weighted-average Remaining Lease Term - Operating Leases |  | 13.0 years |
Weighted-average Discount Rate - Operating Leases |  | 4.0 | %
Schedule of Future Minimum Lease Payments for Finance Leases | Future minimum lease payments under finance and operating leases at December 31, 2019 were:
DOLLARS IN MILLIONS |  | Finance Leases |  | Operating Leases
2020 |  | $ | 0.3 |  |  | $ | 20.5 |
2021 |  | 0.2 |  |  | 19.3 |
2022 |  | — |  |  | 17.0 |
2023 |  | — |  |  | 14.7 |
2024 |  | — |  |  | 8.3 |
2025 and Thereafter |  | — |  |  | 28.1 |
Total Future Payments |  | $ | 0.5 |  |  | $ | 107.9 |
Less Discount |  | — |  |  | 14.7 |
Present Value of Minimum Lease Payments |  | $ | 0.5 |  |  | $ | 93.2 |
NOTE 9. LEASES (Continued) Future minimum lease payments under finance and operating leases at December 31, 2018 were:
DOLLARS IN MILLIONS |  | Finance 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 Lease Payments |  | $ | 1.9 |  |  |
Schedule of Future Minimum Lease Payments for Operating Leases | Future minimum lease payments under finance and operating leases at December 31, 2019 were:
DOLLARS IN MILLIONS |  | Finance Leases |  | Operating Leases
2020 |  | $ | 0.3 |  |  | $ | 20.5 |
2021 |  | 0.2 |  |  | 19.3 |
2022 |  | — |  |  | 17.0 |
2023 |  | — |  |  | 14.7 |
2024 |  | — |  |  | 8.3 |
2025 and Thereafter |  | — |  |  | 28.1 |
Total Future Payments |  | $ | 0.5 |  |  | $ | 107.9 |
Less Discount |  | — |  |  | 14.7 |
Present Value of Minimum Lease Payments |  | $ | 0.5 |  |  | $ | 93.2 |
NOTE 9. LEASES (Continued) Future minimum lease payments under finance and operating leases at December 31, 2018 were:
DOLLARS IN MILLIONS |  | Finance 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 Lease Payments |  | $ | 1.9 |  |  |
Future minimum operating lease payments at December 31, 2019 were:
DOLLARS IN MILLIONS |  | Operating Leases
2020 |  | $ | 2.1 |
2021 |  | 3.5 |
2022 |  | 3.7 |
2023 |  | 3.5 |
2024 |  | 2.5 |
2025 and Thereafter |  | 25.6 |
Total Future Payments |  | $ | 40.9 |
Less Discount |  | 9.6 |
Present Value of Minimum Lease Payments |  | $ | 31.3 |

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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=77888426&loc=SL77918701-209980 + Details
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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=77888426&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=77888426&loc=SL77918701-209980 + Details
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