XML 47 R37.htm IDEA: XBRL DOCUMENT v3.19.2
(Tables)
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Components of Lease Expense
The components of lease cost for the three and six months ended June 30, 2019 are as follows (in millions):
 
Classification
 
Three Months Ended June 30, 2019
 
Six Months Ended June 30, 2019
Operating lease cost
Facilities and grounds expense
 
$
1.0

 
$
1.9

Short-term lease cost
Facilities and grounds expense
 
$
0.1

 
$
0.2

 
 
 
 
 
 
Finance lease cost:
 
 
 
 
 
Depreciation of leased assets
Depreciation and amortization
 
$
0.1

 
$
0.2

Interest on lease liabilities
Interest expense
 
0.1

 
0.2

Total finance lease cost
 
 
0.2

 
0.4

Total lease cost
 
 
$
1.3

 
$
2.5

Variable lease expense was immaterial for the three and six months ended June 30, 2019.
Supplemental cash flow information related to our leases for the six months ended June 30, 2019 is as follows (in millions):
 
Six Months Ended June 30, 2019
Cash paid for operating leases included in operating activities
$
1.9

Cash paid for finance leases included in financing activities
0.4

Right-of-use assets obtained in exchange for new leases for the six months ended June 30, 2019 is as follows (in millions):
 
Six Months Ended June 30, 2019
Right-of-use assets obtained in exchange for new operating lease liabilities(1)
$
8.2

Right-of-use assets obtained in exchange for new finance lease liabilities

 
 
 
 
 
(1)
During the three months ended June 30, 2019, we modified an existing operating lease to extend the term through 2030. As a result of this modification, we increased our lease liabilities and right-of-use assets by $8.2 million.
Supplemental balance sheet information related to leases as of June 30, 2019 is as follows (in millions):
Lease Type
 
Balance Sheet Classification
 
June 30, 2019
Operating lease right-of-use assets
 
Operating lease right-of-use assets
 
$
23.5

Finance lease right-of-use assets(1)
 
Property, plant and equipment, net
 
5.5

Total right-of-use assets
 
 
 
$
29.0

 
 
 
 
 
Operating
 
Current portion of operating lease obligations
 
$
1.5

Finance
 
Current portion of finance lease obligations
 
0.3

Total current lease liabilities
 
 
 
1.8

Operating
 
Obligations under operating leases, net of current portion
 
22.7

Finance
 
Obligations under finance leases, net of current portion
 
6.0

Total non-current lease liabilities
 
 
 
28.7

Total lease liabilities
 
 
 
$
30.5

 
 
 
 
 
(1)
Finance lease right-of-use assets are presented net of accumulated depreciation of $1.9 million.
The average lease terms and discount rates as of June 30, 2019 are as follows:
 
Weighted-average remaining lease term (years)
 
Weighted-average discount rate
Operating leases
11.4
 
8.1
%
Finance leases
7.5
 
8.2
%
Maturities of Operating Lease Liabilities
The aggregate future lease payments for operating and finance leases as of June 30, 2019 are as follows (in millions):
 
Operating
 
Finance
Lease payments due:
 
 
 
Remainder of 2019
$
1.9

 
$
0.4

2020
3.3

 
0.8

2021
3.7

 
0.8

2022
3.3

 
0.8

2023
3.2

 
0.8

Thereafter
21.6

 
7.1

Total lease payments
37.0

 
10.7

Less: Interest
(12.8
)
 
(4.4
)
Present value of lease liabilities
$
24.2

 
$
6.3

Maturities of Financing Lease Liabilities
The aggregate future lease payments for operating and finance leases as of June 30, 2019 are as follows (in millions):
 
Operating
 
Finance
Lease payments due:
 
 
 
Remainder of 2019
$
1.9

 
$
0.4

2020
3.3

 
0.8

2021
3.7

 
0.8

2022
3.3

 
0.8

2023
3.2

 
0.8

Thereafter
21.6

 
7.1

Total lease payments
37.0

 
10.7

Less: Interest
(12.8
)
 
(4.4
)
Present value of lease liabilities
$
24.2

 
$
6.3