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Leases (Tables)
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Components of Lease Expense and Other Information

The components of lease expense were as follows:

 

 

 

3 Months Ended

 

 

6 Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2019

 

 

2019

 

Operating lease expense

 

$

35.0

 

 

$

69.7

 

Short-term lease expense

 

 

6.0

 

 

 

12.1

 

Other lease expense(1)

 

$

4.8

 

 

$

9.9

 

Total lease expense

 

$

45.8

 

 

$

91.7

 

(1)

Other lease expense includes immaterial variable lease expense and sublease income.

Other information related to leases was as follows:

 

 

 

 

 

6 Months Ended

 

 

 

 

 

June 30,

 

Supplemental Cash Flows Information

 

 

 

2019

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

 

 

$

64.8

 

Operating ROU assets obtained in exchange for lease obligations

 

 

 

$

69.7

 

 

Weighted Average Remaining Lease Term

 

 

 

 

Operating leases

 

5.6

 

Weighted Average Discount Rate

 

 

 

 

Operating leases

 

 

2.8

%

 

Supplemental Balance Sheet Information

 

 

June 30,

 

Supplemental balance sheet information

 

2019

 

Operating Leases

 

 

 

 

Operating lease ROU assets

 

$

458.5

 

 

 

 

 

 

Operating lease liabilities - current(1)

 

$

126.6

 

Operating lease liabilities - long-term

 

 

334.3

 

Total operating lease liabilities

 

$

460.9

 

 

(1)

Operating lease liabilities - current are included in accrued expenses on our Consolidated Balance Sheets.

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of June 30, 2019 were as follows:

 

(In millions)

 

 

 

 

Period Ending June 30, 2019

 

Operating Leases

 

2019 (excluding the six months ended June 30, 2019)

 

$

64.5

 

2020

 

 

120.9

 

2021

 

 

91.8

 

2022

 

 

68.1

 

2023

 

 

46.2

 

2024

 

 

33.7

 

Thereafter

 

 

80.5

 

Total future undiscounted lease payments

 

$

505.7

 

Less imputed interest

 

$

(44.8

)

Total operating lease liabilities

 

$

460.9

 

Maturities of Operating Leases Accounted for Under ASC 840

Maturities of operating leases accounted for under ASC 840 as of December 31, 2018 were as follows:

 

(In millions)

 

 

 

 

Period Ending December 31, 2018

 

Operating Leases

 

2019

 

$

151.4

 

2020

 

 

115.2

 

2021

 

 

85.5

 

2022

 

 

65.0

 

2023

 

 

44.1

 

Thereafter

 

 

105.6

 

Total minimum lease payments

 

$

566.8