XML 40 R23.htm IDEA: XBRL DOCUMENT v3.20.4
Leases - The Company as Lessee
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Leases - The Company as Lessee Leases - The Company As Lessee
Principal non-cancelable operating leases include land, office space, harbors and equipment that have lease terms that expire through 2043. Management expects that in the normal course of business, most operating leases will be renewed or replaced by other similar leases. The Company has equipment under finance leases with lease terms that expire through 2024.
Lease expense for operating leases that provide for future escalations are accounted for on a straight-line basis. For the year ended December 31, 2020, lease expense under operating and finance leases was as follows (in millions):
20202019
Lease cost - operating and finance leases:
Operating lease cost$4.6 $5.1 
Finance lease cost:
Amortization of right-of-use assets1.2 0.6 
Interest on lease liabilities0.1 0.1 
Total lease cost - operating and finance leases$5.9 $5.8 
Amounts related to other lease transactions:
Short-term lease cost$0.6 $0.7 
Variable lease cost$0.6 $0.5 
Sublease income$0.3 $0.3 
For the year ended December 31, 2018, prior to the guidance in ASC 842, lease expense for operating leases totaled $6.1 million.
Other amounts relating to leases segregated between those for finance and operating leases include the following for the year ended December 31, 2020 and December 31, 2019 (in millions):
20202019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$4.6 $5.3 
Operating cash outflows from financing leases$0.1 $0.1 
Financing cash flows from finance leases$1.2 $0.6 
Other details:
Weighted-average remaining lease term (years) - operating leases9.19.3
Weighted-average remaining lease term (years) - finance leases2.93.3
Weighted-average discount rate - operating leases4.4 %4.4 %
Weighted-average discount rate - finance leases3.2 %3.1 %
Future lease payments under non-cancelable operating and finance leases as of December 31, 2020 were as follows (in millions):
Operating Leases
Finance Leases
2021$4.6 $1.4 
20224.6 1.0 
20233.4 0.7 
20242.7 0.2 
20251.2 — 
Thereafter7.9 — 
Total lease payments$24.4 $3.3 
Less: Interest(6.0)(0.1)
Total lease liabilities$18.4 $3.2 
ROU assets and lease liabilities related to operating leases are presented separately on the consolidated balance sheets. Information for finance leases as of the years ended December 31, 2020 and 2019 were as follows (in millions):
20202019
ROU assets$4.2 $3.8 
Lease liabilities$3.2 $3.5 
Leases - The Company as Lessee Leases - The Company As Lessee
Principal non-cancelable operating leases include land, office space, harbors and equipment that have lease terms that expire through 2043. Management expects that in the normal course of business, most operating leases will be renewed or replaced by other similar leases. The Company has equipment under finance leases with lease terms that expire through 2024.
Lease expense for operating leases that provide for future escalations are accounted for on a straight-line basis. For the year ended December 31, 2020, lease expense under operating and finance leases was as follows (in millions):
20202019
Lease cost - operating and finance leases:
Operating lease cost$4.6 $5.1 
Finance lease cost:
Amortization of right-of-use assets1.2 0.6 
Interest on lease liabilities0.1 0.1 
Total lease cost - operating and finance leases$5.9 $5.8 
Amounts related to other lease transactions:
Short-term lease cost$0.6 $0.7 
Variable lease cost$0.6 $0.5 
Sublease income$0.3 $0.3 
For the year ended December 31, 2018, prior to the guidance in ASC 842, lease expense for operating leases totaled $6.1 million.
Other amounts relating to leases segregated between those for finance and operating leases include the following for the year ended December 31, 2020 and December 31, 2019 (in millions):
20202019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$4.6 $5.3 
Operating cash outflows from financing leases$0.1 $0.1 
Financing cash flows from finance leases$1.2 $0.6 
Other details:
Weighted-average remaining lease term (years) - operating leases9.19.3
Weighted-average remaining lease term (years) - finance leases2.93.3
Weighted-average discount rate - operating leases4.4 %4.4 %
Weighted-average discount rate - finance leases3.2 %3.1 %
Future lease payments under non-cancelable operating and finance leases as of December 31, 2020 were as follows (in millions):
Operating Leases
Finance Leases
2021$4.6 $1.4 
20224.6 1.0 
20233.4 0.7 
20242.7 0.2 
20251.2 — 
Thereafter7.9 — 
Total lease payments$24.4 $3.3 
Less: Interest(6.0)(0.1)
Total lease liabilities$18.4 $3.2 
ROU assets and lease liabilities related to operating leases are presented separately on the consolidated balance sheets. Information for finance leases as of the years ended December 31, 2020 and 2019 were as follows (in millions):
20202019
ROU assets$4.2 $3.8 
Lease liabilities$3.2 $3.5