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Leases (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Components of Lease Expense and Other Information

The components of lease expense were as follows:

 

 

3 Months Ended March 31,

 

 

 

2021

 

 

2020

 

Operating lease expense

 

$

35.5

 

 

$

36.0

 

Short-term lease expense

 

 

1.5

 

 

 

3.9

 

Other lease expense(1)

 

$

4.9

 

 

$

4.3

 

Total lease expense

 

$

41.9

 

 

$

44.2

 

(1)

Other lease expense includes variable lease expense and sublease income.

Other information related to leases was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3 Months Ended March 31,

 

Supplemental Cash Flow Information

 

 

 

2021

 

 

2020

 

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

 

 

 

$

34.7

 

 

$

36.0

 

Operating ROU assets obtained in exchange for lease obligations

 

 

 

 

11.0

 

 

 

15.3

 

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

 

 

Operating leases

 

5.1 years

 

 

5.6 years

 

Weighted Average Discount Rate

 

 

 

 

 

 

 

 

Operating leases

 

 

2.9

%

 

 

3.0

%

 

Supplemental Balance Sheet Information

 

 

March 31,

 

 

December 31,

 

Supplemental Balance Sheet Information

 

2021

 

 

2020

 

Operating Leases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease ROU assets

 

$

378.2

 

 

$

400.7

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities - current(1)

 

$

113.5

 

 

$

119.3

 

Operating lease liabilities - long-term

 

 

285.3

 

 

 

305.1

 

Total operating lease liabilities

 

$

398.8

 

 

$

424.4

 

(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 March 31, 2021 were as follows:

(In millions)

 

 

 

 

Period Ending March 31, 2021

 

Operating Leases

 

Remainder of 2021

 

$

95.6

 

2022

 

 

101.8

 

2023

 

 

75.0

 

2024

 

 

50.6

 

2025

 

 

34.2

 

2026

 

 

26.2

 

Thereafter

 

 

52.3

 

Total future undiscounted lease payments

 

$

435.7

 

Less imputed interest

 

$

(36.9

)

Total operating lease liabilities

 

$

398.8