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Leases (Tables) | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Components of Right-of-Use Assets and Lease Liabilities | Components of right-of-use assets and lease liabilities presented in the balance sheet are as follows ($ in million):
Assets | Classification | June 30, 2019
Operating lease right-of-use assets | Other assets | $ | 23.4 |
Finance lease right-of-use assets | Property, plant and equipment, net | 3.1 |
Liabilities | Classification | June 30, 2019
Current operating lease obligation | Accrued expenses | $ | 4.9 |
Long-term operating lease obligation | Other liabilities | 19.7 |
Total operating lease obligation |  | $ | 24.6 |
Current finance lease obligation | Current debt | $ | 0.4 |
Long-term finance lease obligation | Long-term debt | 3.1 |
Total finance lease obligation |  | $ | 3.5 |
| June 30, 2019
Assets | Finance |  | Operating |  | Total
Land and improvements | $ | — |  |  | $ | 0.1 |  |  | $ | 0.1 |
Buildings and improvements | 3.0 |  |  | 21.9 |  |  | 24.9 |
Machinery and equipment | 0.6 |  |  | 4.7 |  |  | 5.3 |
Gross property, plant and equipment | 3.6 |  |  | 26.7 |  |  | 30.3 |
Less: Accumulated depreciation | (0.5 | ) |  | (3.3 | ) |  | (3.8 | )
Right-of-use assets | $ | 3.1 |  |  | $ | 23.4 |  |  | $ | 26.5 |
Components of Lease Expense, Lease Term and Discount Rate, and Other Information | Components of lease expense incurred by the Company are as follow ($ in millions):
Lease Cost | Three Months Ended June 30, 2019 |  | Six Months Ended June 30, 2019
Finance lease cost (cost resulting from lease payments) |  |  |
Interest expense on lease liabilities | $ | 0.1 |  |  | $ | 0.1 |
Amortization of right-of-use assets | 0.1 |  |  | 0.2 |
Operating lease cost | 1.6 |  |  | 3.1 |
Short-term lease expense | 0.1 |  |  | 0.2 |
Total Lease Cost | $ | 1.9 |  |  | $ | 3.6 |
Lease Term and Discount Rate | June 30, 2019
Weighted-average remaining lease term (years) |
Operating leases | 7.0 |
Finance leases | 7.9 |
Weighted-average discount rate |
Operating leases | 6.49 | %
Finance leases | 5.28 | %
Other Information (millions) | Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities |
Operating cash flows from operating leases | 3.1 |
Operating cash flows from finance leases | 0.2 |
Leased assets obtained in exchange for new finance lease liabilities | 0.5 |
Leased assets obtained in exchange for new operating lease liabilities | 3.2 |
Maturity of Lease Liabilities, Finance Leases | The following table represents future contractual lease liabilities for the next five years and thereafter for finance and operating leases ($ in millions):
Maturity of Lease Liabilities | Finance |  | Operating |  | Total
Remainder of 2019 | $ | 0.3 |  |  | $ | 3.2 |  |  | $ | 3.5 |
2020 | 0.6 |  |  | 5.9 |  |  | 6.5 |
2021 | 0.5 |  |  | 5.2 |  |  | 5.7 |
2022 | 0.6 |  |  | 4.0 |  |  | 4.6 |
2023 | 0.5 |  |  | 2.8 |  |  | 3.3 |
2024 | 0.5 |  |  | 2.3 |  |  | 2.8 |
Thereafter | 1.4 |  |  | 7.0 |  |  | 8.4 |
Total Lease Payments | $ | 4.4 |  |  | $ | 30.4 |  |  | $ | 34.8 |
Less: Interest | 0.9 |  |  | 5.8 |  |  | 6.7 |
Present Value of Lease Liabilities | $ | 3.5 |  |  | $ | 24.6 |  |  | $ | 28.1 |
Maturity of Lease Liabilities, Operating Leases | The following table represents future contractual lease liabilities for the next five years and thereafter for finance and operating leases ($ in millions):
Maturity of Lease Liabilities | Finance |  | Operating |  | Total
Remainder of 2019 | $ | 0.3 |  |  | $ | 3.2 |  |  | $ | 3.5 |
2020 | 0.6 |  |  | 5.9 |  |  | 6.5 |
2021 | 0.5 |  |  | 5.2 |  |  | 5.7 |
2022 | 0.6 |  |  | 4.0 |  |  | 4.6 |
2023 | 0.5 |  |  | 2.8 |  |  | 3.3 |
2024 | 0.5 |  |  | 2.3 |  |  | 2.8 |
Thereafter | 1.4 |  |  | 7.0 |  |  | 8.4 |
Total Lease Payments | $ | 4.4 |  |  | $ | 30.4 |  |  | $ | 34.8 |
Less: Interest | 0.9 |  |  | 5.8 |  |  | 6.7 |
Present Value of Lease Liabilities | $ | 3.5 |  |  | $ | 24.6 |  |  | $ | 28.1 |
Future Minimum Obligations Under Non-Cancelable Operating Leases | Future minimum obligations under non-cancelable operating leases having an initial or remaining term in excess of one year as of December 31, 2018 were as follows ($ in millions):
2019 | $ | 5.8 |
2020 | 5.0 |
2021 | 4.4 |
2022 | 3.6 |
2023 | 3.0 |
Thereafter | 8.1 |
Total | $ | 29.9 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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