LEASES (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Balance Sheet Classification of Leases

Leases ($ in millions)	Balance Sheet Classification	September 30, 2019
Assets:
Operating lease assets	Operating lease assets	$	69.3
Finance lease assets	Property, plant and equipment, net	98.0		(1)
Total lease assets		$	167.3
Liabilities:
Current liabilities:
Operating	Current operating lease liabilities	$	13.5
Finance	Current maturities of long-term debt	26.6
Long-term liabilities:
Operating	Long-term operating lease liabilities	58.6
Finance	Long-term debt, net of current maturities	45.5
Total lease liabilities		$	144.2

(1) Net of accumulated amortization of $23.6 million

Lease Cost

Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years):
Operating leases	6.6
Finance leases	3.2
Weighted-average discount rate:
Operating leases	6.2	%
Finance leases	3.8	%

Other Information ($ in millions)	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	14.0
Operating cash flows for finance leases	1.9
Financing cash flows for finance leases	16.2
Leased assets obtained in exchange for new finance lease liabilities	17.1
Leased assets obtained in exchange for new operating lease liabilities	4.7

Lease Cost ($ in millions)	Statement of Operations Classification	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Operating lease cost	Selling, general and administrative expenses	$	6.8	(1)	$	19.8	(2)
Finance lease cost:
Amortization of leased assets	Depreciation, depletion and amortization	3.0			8.6
Interest on lease liabilities	Interest expense, net	0.6			1.9
Total finance lease cost		3.6			10.5
Total		$	10.4		$	30.3

(1) Includes short-term lease and variable lease costs of approximately $1.9 million.

(2) Includes short-term lease and variable lease costs of approximately $5.2 million.

Operating Lease Maturity Schedule

Maturity of Lease Liabilities ($ in millions)	Operating Leases		Finance Leases		Total
2019 (remainder of year)	$	4.6	$	10.4	$	15.0
2020	16.7		24.1		40.8
2021	14.9		19.3		34.2
2022	11.9		13.4		25.3
2023	10.3		7.9		18.2
2024	8.5		1.8		10.3
Thereafter	23.6		—		23.6
Total lease payments	90.5		76.9		167.4
Less interest	18.4		4.8		23.2
Present value of lease liabilities	$	72.1	$	72.1	$	144.2

    

Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years):
Operating leases	6.6
Finance leases	3.2
Weighted-average discount rate:
Operating leases	6.2	%
Finance leases	3.8	%

Finance Lease Maturity Schedule

Maturity of Lease Liabilities ($ in millions)	Operating Leases		Finance Leases		Total
2019 (remainder of year)	$	4.6	$	10.4	$	15.0
2020	16.7		24.1		40.8
2021	14.9		19.3		34.2
2022	11.9		13.4		25.3
2023	10.3		7.9		18.2
2024	8.5		1.8		10.3
Thereafter	23.6		—		23.6
Total lease payments	90.5		76.9		167.4
Less interest	18.4		4.8		23.2
Present value of lease liabilities	$	72.1	$	72.1	$	144.2

    

Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years):
Operating leases	6.6
Finance leases	3.2
Weighted-average discount rate:
Operating leases	6.2	%
Finance leases	3.8	%