On January 1, 2019 the Company adopted ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) using the modified retrospective approach for all lease arrangements at the beginning period of adoption. Leases existing for the reporting period beginning January 1, 2019 are presented under ASU 2016-02. We lease property and equipment under finance and operating leases. At June 30, 2019, the Company’s right-of-use (“ROU”) assets and lease liabilities for operating and finance leases totaled approximately $40.9 and $42.5 million, respectively. Finance lease ROU assets are included in non-current other assets and finance lease liabilities are included in current and non-current other liabilities on the Company’s condensed consolidated balance sheets. The impact of adopting the new lease standard was not material to the Company’s condensed consolidated statement of operations for the periods presented.

	Year To Date Ended June 30, 2019
Lease cost⁽¹⁾:
Operating lease cost		8.4
Short-term lease cost		0.2
Total lease cost	$	8.6

Maturities of Lease Liabilities	Operating Leases			Finance Leases
2019	$	8.2		$	0.1
2020		13.5			0.2
2021		8.2			0.2
2022		6.4			0.1
2023		4.4			—
After 2023		4.9			—
Total lease payments		45.6			0.6
Less interest		(3.6	)		(0.1	)
Present value of lease liabilities	$	42.0		$	0.5

Other Information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	0.0
Operating cash flows from operating leases	$	8.5
Financing cash flows from finance leases	$	0.0
Weighted average remaining lease term - finance leases (in years)		3.30
Weighted average remaining lease term - operating leases (in years)		4.26
Average discount rate - finance leases		5.50	%
Average discount rate - operating leases		3.46	%

As previously disclosed in our 2018 Annual Report on Form 10-K and under Topic 840, future minimum lease payments for operating leases having initial or remaining noncancelable lease terms in excess of one year were as follows:

Year ending December 31:	Operating Leases		Capital Leases
2019	$	15.3	$	0.2
2020		11.2		0.2
2021		7.8		0.2
2022		6.1		0.1
2023		4.4		—
After 2023		5.1		—
Total lease obligations		49.9		0.7
Less amounts representing interest		—		(0.1	)
Present value of minimum capital lease obligations	$	49.9	$	0.6

Arrangements that are determined to be leases at inception are recognized in long-term ROU assets, current lease liabilities, and long-term lease liabilities in the condensed consolidated balance sheet at lease commencement. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future fixed lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, the Company applies its incremental borrowing rate based on the economic environment at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease prepayments made and initial direct costs incurred and is reduced by lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases are recognized on a straight-line basis over the lease term.