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Lease Accounting (Tables)
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Quantitative Information Regarding Lease Cost

 

 

 

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

 

 

(1)

Finance lease costs and variable lease costs are immaterial to the Company.  The Company does not have lease or sub lease income.  

Quantitative Information Regarding Maturities of Lease Liabilities

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

 

 

Quantitative Information Regarding Other Information

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

%

 

 

Future Minimum Rent Obligations under Non-Cancelable Operating and Capital Leases

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