LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of other lease information

Lease expense related to the Two Creeks and Badger Hollow I finance leases was not significant. Other information related to these leases is disclosed in the table below:

Other information (dollar amounts in millions)
Non-cash activity – right of use assets obtained in exchange for finance lease liabilities	$	30.3
Weighted average remaining lease term at December 31, 2019	51.0 years
Weighted average discount rate *	4.2		%

*

Because these leases do not provide an implicit rate of return, we used the fully collateralized incremental borrowing rates based upon information available for similarly rated companies in determining the present value of lease payments.

Schedule of finance lease right of use assets

The following table summarizes our finance lease right of use assets, which were included in property, plant and equipment on our balance sheets:

(in millions)	December 31, 2019
Two Creeks land leases
Under finance leases	$	10.8
Accumulated amortization	(0.1		)
Total Two Creeks land leases	$	10.7
Badger Hollow I land leases
Under finance leases	$	19.5
Accumulated amortization	(0.2		)
Total Badger Hollow I land leases	$	19.3
Total finance lease right of use assets	$	30.0

Schedule of future minimum lease payments for finance leases

Future minimum lease payments under our finance leases and the present value of our net minimum lease payments as of December 31, 2019, were as follows:

(in millions)	Two Creeks			Badger Hollow I			Total Finance Leases
2020	$	0.3		$	0.3		$	0.6
2021	0.3			0.7			1.0
2022	0.3			0.7			1.0
2023	0.3			0.7			1.0
2024	0.3			0.7			1.0
Thereafter	32.0			53.4			85.4
Total minimum lease payments	33.5			56.5			90.0
Less: Interest	(22.6		)	(36.7		)	(59.3		)
Present value of minimum lease payments	10.9			19.8			30.7
Less: Short-term lease liabilities	—			—			—
Long-term lease liabilities	$	10.9		$	19.8		$	30.7