XML 28 R38.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Leases (Tables)
 12 Months Ended
Dec. 31, 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
December 31, 2019
Operating lease right-of-use assets
Other assets
$
20.9

Finance lease right-of-use assets
Property, plant and equipment, net
2.9

Total right of use assets
 
$
23.8

 
 
 
Liabilities
Classification
December 31, 2019
Current operating lease obligation
Accrued expenses and other current liabilities
$
4.9

Long-term operating lease obligation
Other liabilities
17.2

Total operating lease obligation
 
$
22.1

 
 
 
Current finance lease obligation
Current debt
$
0.4

Long-term finance lease obligation
Long-term debt
2.8

Total finance lease obligation
 
$
3.2


 
December 31, 2019
Assets
Finance
 
Operating
 
Total
Land and improvements
$
—

 
$
0.1

 
$
0.1

Buildings and improvements
2.9

 
21.8

 
24.7

Machinery and equipment
0.7

 
4.5

 
5.2

Gross property, plant and equipment
3.6

 
26.4

 
30.0

Less: Accumulated depreciation
(0.7
)
 
(5.5
)
 
(6.2
)
Right-of-use assets
$
2.9

 
$
20.9

 
$
23.8
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
Year Ended December 31, 2019
Finance lease cost (cost resulting from lease payments)
 
Interest expense on lease liabilities
$
0.2

Amortization of right-of-use assets
0.4

Operating lease cost
6.2

Short-term lease expense
0.3

Variable lease expense
—

Sublease income
—

Total Lease Cost
$
7.1


Lease Term and Discount Rate
December 31, 2019
Weighted-average remaining lease term (years)
 
Operating leases
6.7

Finance leases
7.3

Weighted-average discount rate
 
Operating leases
6.49
%
Finance leases
5.27
%

Other Information (millions)
Year Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
 
Operating cash flows from operating leases
6.3

Operating cash flows from finance leases
0.3

Financing cash flows from finance leases
0.2

Leased assets obtained in exchange for new finance lease liabilities
0.6

Leased assets obtained in exchange for new operating lease liabilities
3.3
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
2020
$
0.6

 
6.2

 
$
6.8

2021
0.6

 
5.2

 
5.8

2022
0.5

 
4.0

 
4.5

2023
0.5

 
2.8

 
3.3

2024
0.5

 
2.3

 
2.8

Thereafter
1.4

 
7.0

 
8.4

Total Lease Payments
$
4.1

 
$
27.5

 
$
31.6

Less: Interest
0.9

 
5.4

 
6.3

Present Value of Lease Liabilities
$
3.2

 
$
22.1

 
$
25.3
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
2020
$
0.6

 
6.2

 
$
6.8

2021
0.6

 
5.2

 
5.8

2022
0.5

 
4.0

 
4.5

2023
0.5

 
2.8

 
3.3

2024
0.5

 
2.3

 
2.8

Thereafter
1.4

 
7.0

 
8.4

Total Lease Payments
$
4.1

 
$
27.5

 
$
31.6

Less: Interest
0.9

 
5.4

 
6.3

Present Value of Lease Liabilities
$
3.2

 
$
22.1

 
$
25.3
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