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Leases | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Leases | NOTE 4 – LEASES We have operating and finance leases for toll manufacturing facilities, warehouse storage, land, buildings, plant and equipment. Our leases have remaining lease terms of 1 year to 12 years, some of which include options to terminate the leases within 1 year. The components of lease expense were as follows:
( in millions ) |  | Three Months Ended June 30 |  |  | Six Months Ended June 30 |
|  | 2019 |  |  | 2019 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 0.4 |  |  | $ | 1.0 |
Interest on lease liabilities |  |  | 0.0 |  |  |  | 0.0 |
Total finance lease cost |  |  | 0.4 |  |  |  | 1.0 |
Operating lease cost |  |  | 3.0 |  |  |  | 6.0 |
Short-term lease cost |  |  | 0.5 |  |  |  | 0.9 |
Variable lease cost |  |  | 0.1 |  |  |  | 0.2 |
Sub-lease income |  |  | 0.0 |  |  |  | 0.0 |
Total finance lease cost |  | $ | 4.0 |  |  | $ | 8.1 |
Supplemental cash flow information related to leases is as follows:
( in millions ) |  | Three Months Ended June 30 |  |  | Six Months Ended June 30 |
|  | 2019 |  |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 3.4 |  |  | $ | 6.9 |
Operating cash flows from finance leases |  |  | 0.5 |  |  |  | 1.1 |
Financing cash flows from finance leases |  |  | 0.0 |  |  |  | 0.0 |
Right-of-use assets obtained in exchange for new lease obligations: |  |  |  |  |  |  |  |
Operating leases |  |  | 1.1 |  |  | $ | 1.9 |
Finance leases |  | $ | 0.0 |  |  |  | 0.0 |
Supplemental balance sheet information related to leases is as follows:
( in millions except lease term and discount rate ) |  | June 30 2019 |
Operating leases: |  |  |  |
Operating lease right-of-use assets |  | $ | 36.0 |
Current portion of operating lease liabilities |  | $ | 11.6 |
Operating lease liabilities, net of current portion |  |  | 24.4 |
Total operating lease liabilities |  | $ | 36.0 |
Finance leases: |  |  |  |
Property, plant and equipment at cost |  | $ | 10.8 |
Accumulated depreciation |  |  | (8.4 | )
Net property, plant and equipment, net |  | $ | 2.4 |
Current portion of finance leases |  | $ | 1.3 |
Finance leases, net of current portion |  |  | 0.9 |
Total finance lease liabilities |  | $ | 2.2 |
Weighted average remaining lease term: |  |  |  |
Operating leases |  |  | 3.6 years |
Finance leases |  |  | 2.0 years |
Weighted average discount rate: |  |  |  |
Operating leases |  |  | 3.1 | %
Finance leases |  |  | 2.4 | %
Maturities of lease liabilities were as follows as at June 30, 2019:
( in millions ) |  | Operating leases |  |  | Finance leases |
Within one year |  | $ | 11.6 |  |  | $ | 1.3 |
Year two |  |  | 8.9 |  |  |  | 0.7 |
Year three |  |  | 7.2 |  |  |  | 0.2 |
Year four |  |  | 4.6 |  |  |  | 0.1 |
Year five |  |  | 3.0 |  |  |  | 0.0 |
Thereafter |  |  | 3.2 |  |  |  | 0.0 |
Total lease payments |  |  | 38.5 |  |  |  | 2.3 |
Less imputed interest |  |  | (2.5 | ) |  |  | (0.1 | )
Total |  | $ | 36.0 |  |  | $ | 2.2 |
Future lease payments for all noncancelable operating and finance leases as of December 31, 2018 are as follows, as accounted for under the previous lease standard, ASC 840. As such the amounts are not directly comparable to those included above.
(in millions) |  | Operating leases |  |  | Finance leases |
Within one year |  | $ | 6.5 |  |  | $ | 1.8 |
Year two |  |  | 4.5 |  |  |  | 1.0 |
Year three |  |  | 3.2 |  |  |  | 0.4 |
Year four |  |  | 2.3 |  |  |  | 0.1 |
Year five |  |  | 2.1 |  |  |  | 0.0 |
Thereafter |  |  | 4.4 |  |  |  | 0.0 |
Total lease payments |  | $ | 23.0 |  |  | $ | 3.3 |
As of June 30, 2019, additional operating and finance leases that have not yet commenced are $0.1 million.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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