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Leases (Tables) | 12 Months Ended
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Dec. 31, 2020
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, 2020 |  | December 31, 2019 |  |
Operating lease right-of-use assets | Other assets | $ | 19.8 |  |  | $ | 20.9 |  |  |
Finance lease right-of-use assets | Property, plant and equipment, net | 3.0 |  |  | 2.9 |  |  |
Total right of use assets |  | $ | 22.8 |  |  | $ | 23.8 |  |  |
Liabilities | Classification | December 31, 2020 |  | December 31, 2019 |  |
Current operating lease obligation | Accrued expenses | $ | 5.2 |  |  | $ | 4.9 |  |  |
Long-term operating lease obligation | Other liabilities | 15.6 |  |  | 17.2 |  |  |
Total operating lease obligation |  | $ | 20.8 |  |  | $ | 22.1 |  |  |
Current finance lease obligation | Current debt | $ | 0.5 |  |  | $ | 0.4 |  |  |
Long-term finance lease obligation | Long-term debt | 3.0 |  |  | 2.8 |  |  |
Total finance lease obligation |  | $ | 3.5 |  |  | $ | 3.2 |  |  |
| December 31, 2020 |  | December 31, 2019
Assets | Finance |  | Operating |  | Total |  | Finance |  | Operating |  | Total
Land and improvements | $ | — |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 0.1 |
Buildings and improvements | 3.1 |  |  | 25.9 |  |  | 29.0 |  |  | 2.9 |  |  | 21.8 |  |  | 24.7 |
Machinery and equipment | 1.1 |  |  | 4.3 |  |  | 5.4 |  |  | 0.7 |  |  | 4.5 |  |  | 5.2 |
Gross property, plant and equipment | 4.2 |  |  | 30.3 |  |  | 34.5 |  |  | 3.6 |  |  | 26.4 |  |  | 30.0 |
Less: Accumulated depreciation | (1.2) |  |  | (10.5) |  |  | (11.7) |  |  | (0.7) |  |  | (5.5) |  |  | (6.2) |
Right-of-use assets | $ | 3.0 |  |  | $ | 19.8 |  |  | $ | 22.8 |  |  | $ | 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, 2020 |  | Year ended December 31, 2019
Finance lease cost (cost resulting from lease payments) |  |  |  |  |
Interest expense on lease liabilities |  |  | $ | 0.2 |  |  | 0.2 |
Amortization of right-of-use assets |  |  | 0.5 |  |  | 0.4 |
Operating lease cost |  |  | 6.8 |  |  | 6.2 |
Short-term lease expense |  |  | 0.4 |  |  | 0.3 |
Variable lease expense |  |  | — |  |  | — |
Sublease income |  |  | — |  |  | — |
Total Lease Cost |  |  | $ | 7.9 |  |  | $ | 7.1 |
Lease Term and Discount Rate | December 31, 2020 |  | December 31, 2019
Weighted-average remaining lease term (years) |  |  |
Operating leases | 5.8 |  | 6.7
Finance leases | 6.3 |  | 7.3
Weighted-average discount rate |  |  |
Operating leases | 6.19 | % |  | 6.49 | %
Finance leases | 5.26 | % |  | 5.27 | %
Other Information (millions) | Year Ended December 31, 2020 |  | Year ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows from operating leases | 6.9 |  |  | 6.3 |
Operating cash flows from finance leases | 0.2 |  |  | 0.3 |
Financing cash flows from finance leases | 0.5 |  |  | 0.2 |
Leased assets obtained in exchange for new finance lease liabilities | 0.4 |  |  | 0.6 |
Leased assets obtained in exchange for new operating lease liabilities | 3.9 |  |  | 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
2021 | $ | 0.7 |  |  | 6.3 |  |  | $ | 7.0 |
2022 | 0.7 |  |  | 5.1 |  |  | 5.8 |
2023 | 0.6 |  |  | 3.5 |  |  | 4.1 |
2024 | 0.5 |  |  | 2.9 |  |  | 3.4 |
2025 | 0.6 |  |  | 1.8 |  |  | 2.4 |
Thereafter | 1.0 |  |  | 5.4 |  |  | 6.4 |
Total Lease Payments | $ | 4.1 |  |  | $ | 25.0 |  |  | $ | 29.1 |
Less: Interest | 0.6 |  |  | 4.2 |  |  | 4.8 |
Present Value of Lease Liabilities | $ | 3.5 |  |  | $ | 20.8 |  |  | $ | 24.3 |
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
2021 | $ | 0.7 |  |  | 6.3 |  |  | $ | 7.0 |
2022 | 0.7 |  |  | 5.1 |  |  | 5.8 |
2023 | 0.6 |  |  | 3.5 |  |  | 4.1 |
2024 | 0.5 |  |  | 2.9 |  |  | 3.4 |
2025 | 0.6 |  |  | 1.8 |  |  | 2.4 |
Thereafter | 1.0 |  |  | 5.4 |  |  | 6.4 |
Total Lease Payments | $ | 4.1 |  |  | $ | 25.0 |  |  | $ | 29.1 |
Less: Interest | 0.6 |  |  | 4.2 |  |  | 4.8 |
Present Value of Lease Liabilities | $ | 3.5 |  |  | $ | 20.8 |  |  | $ | 24.3 |

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