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Leases (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Consolidated Balance Sheet Related To Leases

Supplemental condensed consolidated balance sheet information related to leases for the period indicated, is as follows (in millions):

	Classification	March 31, 2019
Assets
Operating leases	Operating lease assets, net	$	619.3
Finance leases	Property, plant and equipment, net (1)		18.6
Total lease assets		$	637.9
Liabilities
Current
Operating leases	Other accrued liabilities	$	137.8
Finance leases	Short-term debt and current portion of long-term debt		3.4
Noncurrent
Operating leases	Long-term operating lease liabilities		547.6
Finance leases	Long-term debt		11.9
Total lease liabilities		$	700.7

(1)	Net of accumulated depreciation of $ 4.6 million.

Schedule of Consolidated Statement Of Operation Related To Leases

Components of lease expense as of the date indicated, are as follows (in millions):

	Three Months Ended March 31, 2019
Operating lease cost:
Operating lease cost (1)	$	48.2
Variable lease costs (2)		6.0
Finance lease cost:
Amortization of leased assets		1.1
Interest on lease liabilities		0.2

(1)	Includes short-term leases, which are immaterial.

(2)	Consists primarily of additional payments for non-lease components, such as maintenance costs, payments of taxes and additional rent based on a level of the Company’s retail store sales.

Schedule Of Remaining Lease Term and Discount Rates

Remaining lease term and discount rates as of as of the date indicated, are as follows:

	March 31, 2019
Weighted-average remaining lease term (years):
Operating leases		7
Finance leases		4
Weighted-average discount rate:
Operating leases		4.3	%
Finance leases		3.9	%

Schedule Of Supplemental Cash Flow Related To Leases

Supplemental cash flow information related to leases for the period indicated is as follows:

	Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	39.5
Operating cash flows from finance leases		0.2
Financing cash flows from finance leases		0.7
Right of use assets obtained in exchange for lease liabilities:
Operating leases		26.5
Finance leases		6.7

Schedule of Maturities of Operating and Finance Leases Liabilities

Maturities of lease liabilities for continuing operations under the new lease standard (see Footnote 1) as of March 31, 2019, are as follows:

	Operating Leases			Finance Leases
2019 (Excludes three months ended March 31, 2019)	$	124.7		$	3.3
2020		136.2			4.3
2021		113.5			4.2
2022		97.8			3.3
2023		73.8			1.5
Thereafter		264.6			0.4
Total lease payments		810.6			17.0
Less: imputed interest		(125.2	)		(1.7	)
Present value of lease liabilities	$	685.4		$	15.3

See Footnote 2 for information on lease liabilities included in discontinued operations and held for sale.

Schedule Of Future Minimum Rental Payments For Operating Leases

Future minimum rental payments for operating leases, prior to the adoption of the new lease standard, with initial or remaining terms in excess of one year at December 31, 2018 for the consolidated Company are as follows:

	Operating Leases
2019	$	180.0
2020		144.0
2021		117.8
2022		97.7
2023		74.0
Thereafter		263.9
Total lease payments	$	877.4