LEASES (Tables)

3 Months Ended

Mar. 31, 2020

Supplemental balance sheet information related to leases was as follows:



($ in millions)	Balance Sheet Classification	March 31, 2020			December 31, 2019
Assets:
Operating	Operating lease assets	$	71.7		$	69.8
Finance	Property, plant and equipment, net	109.4		⁽¹⁾	91.5		⁽¹⁾
Total lease assets		$	181.1		$	161.3
Liabilities:
Current liabilities:
Operating	Current operating lease liabilities	$	13.7		$	12.9
Finance	Current maturities of long-term debt	21.1			24.2
Long-term liabilities
Operating	Long-term operating lease liabilities	61.0			59.7
Finance	Long-term debt, net of current maturities	61.7			43.1
Total lease liabilities		$	157.5		$	139.9

(1) Net of accumulated amortization of $33.3 million and $29.4 million as of March 31, 2020 and December 31, 2019, respectively.

Lease term and discount rate were as follows:



	March 31, 2020		December 31, 2019
Weighted-average remaining lease term:
Operating leases	6.6 years		6.6 years
Finance leases	3.8 years		3.4 years
Weighted-average discount rate:
Operating leases	5.8	%	6.2	%
Finance leases	3.7	%	3.8	%

Lease Cost



	Three Months Ended March 31,
($ in millions)	2020			2019
Operating lease cost
Cost of goods sold before depreciation, depletion and amortization	$	5.5		$	5.9
Selling, general and administrative expenses	0.7			0.5
Total operating lease cost	6.2		⁽¹⁾	6.4		⁽¹⁾

Finance lease cost
Depreciation, depletion and amortization	3.7			2.7
Interest expense, net	0.8			0.6
Total finance lease cost	4.5			3.3
Total lease cost	$	10.7		$	9.7

(1) Includes short-term lease and variable lease costs of $1.7 million for the three months ended March 31, 2020 and $1.5 million for the three months ended March 31, 2019.

Supplemental cash flow information related to leases was as follows:



	Three Months Ended March 31,
($ in millions)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	0.8	$	4.8
Operating cash flows for finance leases	4.3		0.6
Financing cash flows for finance leases	6.0		5.1
Net assets obtained in exchange for finance lease liabilities	9.7		1.3
Net right-of-use assets obtained in exchange for operating lease liabilities	5.3		0.8

Operating Lease Maturity Schedule

Maturities of lease liabilities were as follows:



($ in millions)	Operating Leases		Finance Leases
2020 (remainder of year)	$	13.0	$	16.5
2021	16.7		25.3
2022	13.2		20.1
2023	11.6		14.5
2024	10.8		8.1
2025	8.0		4.1
Thereafter	18.6		0.5
Total lease payments	91.9		89.1
Less interest	17.2		6.3
Present value of lease liabilities	$	74.7	$	82.8

Finance Lease Maturity Schedule

Maturities of lease liabilities were as follows:



($ in millions)	Operating Leases		Finance Leases
2020 (remainder of year)	$	13.0	$	16.5
2021	16.7		25.3
2022	13.2		20.1
2023	11.6		14.5
2024	10.8		8.1
2025	8.0		4.1
Thereafter	18.6		0.5
Total lease payments	91.9		89.1
Less interest	17.2		6.3
Present value of lease liabilities	$	74.7	$	82.8