LEASES (Tables)

12 Months Ended

Dec. 31, 2019

LEASES

Schedule of lease cost

The components of lease expense were as follows:

	Year Ended
	December 31, 2019
	(in millions)
Operating lease cost	$	41.1
Short-term lease cost		2.7
Variable lease cost		6.8
Total	$	50.6

Other information related to leases was as follows:

	December 31,
	2019
Weighted-average remaining lease term (in years):
Operating leases		11.5
Weighted-average discount rate:
Operating leases		5.2%

Supplemental cash flow information related to leases was as follows:

	Year Ended
	December 31, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	46.6
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	28.4

Schedule of maturities of lease liabilities

Maturities of the lease liabilities as of December 31, 2019 were as follows:

	Operating
Year	Leases
	(in millions)
2020	$	38.4
2021		39.6
2022		38.6
2023		36.8
2024		35.6
Thereafter		237.4
Total undiscounted lease liabilities		426.4
Less: Amount representing interest		(112.1)
Total present value of minimum lease payments	$	314.3
Amounts recognized in the December 31, 2019 consolidated balance sheet:
Current operating lease liabilities	$	22.6
Long-term operating lease liabilities		291.7
Total	$	314.3

Under ASC 840, future annual minimum rental payments required under noncancellable operating leases as of December 31, 2018 were as follows:

	Operating
Year	Leases
	(in millions)
2019	$	42.0
2020		39.9
2021		37.7
2022		36.8
2023		35.6
Thereafter		256.4
Total	$	448.4