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Leases Leases (Lease costs) (Details)
$ in Millions
12 Months Ended
Dec. 31, 2019
USD ($)
Fixed operating lease cost $ 67.0
Short-term operating lease cost 8.0 [1]
Variable operating lease cost 3.2 [2],[3]
Finance lease amortization 1.2
Interest on lease liabilities 1.4
Total lease cost 80.8
LVT Feedstock Agreement  
Variable operating lease cost $ 2.0
[1] The Company’s leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets.
[2] Approximately $2.0 million of the Company’s variable operating lease cost for the year ended December 31, 2019 relates to its lease agreement with Phillips 66 related to the LVT unit at its Lake Charles, Louisiana refinery (“the LVT Agreement”). Pursuant to the LVT Agreement, Phillips 66 is obligated to supply a minimum supply quantity which the Company agrees to purchase through December 31, 2020. Pricing for the agreement is indexed to the prior month’s average of Platts Mid USGC 55 Grade Jet Kero price on the day of loading plus an adder. Phillips 66 invoices the Company for the estimated volume of product to be purchased by the Company based on a supplied forecast and differences between actual volumes purchased and the estimated volume of product originally billed which makes up the variable component of the operating lease contract.
[3] The Company’s railcar leases typically include a mileage limit the railcar can travel over the life of the lease. For any mileage incurred over this limit, the Company is obligated to pay an agreed upon dollar value for each mile that is traveled over the limit.