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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Balances of Right of Use Assets and Liabilities of Finance Leases and Operating Leases

The balances of right-of-use assets and liabilities of finance leases and operating leases, and their locations on our Consolidated Balance Sheets are as follows:

 

 

 

 

 

December 31,

 

 

 

Balance Sheet Location

 

2022

 

 

2021

 

Right-of-use assets

 

 

 

 

 

 

 

 

Operating leases, gross

 

Other long-term assets

 

$

57.3

 

 

$

50.8

 

Finance leases, gross (1)

 

Property, plant and equipment

 

 

266.1

 

 

 

55.6

 

 

 

 

 

 

 

 

 

 

Lease liabilities

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

Operating leases

 

Accrued liabilities

 

$

14.4

 

 

$

11.7

 

Finance leases (1)

 

Current debt obligations

 

 

34.3

 

 

 

12.8

 

Non-current:

 

 

 

 

 

 

 

 

Operating leases

 

Other long-term liabilities

 

$

28.6

 

 

$

34.5

 

Finance leases (1)

 

Long-term debt

 

 

193.0

 

 

 

13.7

 

 

(1)
The December 31, 2022 balance includes $171.2 million of assets and $167.0 million of liabilities related to compressor leases from the Delaware Basin Acquisition that were subsequently amended and extended.
Summary of Components of Lease Expense

Operating lease costs and short-term lease costs are included in Operating expenses or General and administrative expense in our Consolidated Statements of Operations, depending on the nature of the leases. Finance lease costs are included in Depreciation and amortization expense and Interest expense, net in our Consolidated Statements of Operations. The components of lease expense were as follows:

 

 

 

 

 

Year Ended December 31,

 

 

 

 

 

2022

 

 

2021

 

 

2020

 

Lease cost

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

 

 

$

17.7

 

 

$

12.2

 

 

$

11.6

 

Short-term lease cost

 

 

 

 

35.0

 

 

 

20.4

 

 

 

20.7

 

Variable lease cost

 

 

 

 

17.9

 

 

 

5.7

 

 

 

5.5

 

Finance lease cost

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

 

 

 

20.3

 

 

 

13.3

 

 

 

13.6

 

Interest expense

 

 

 

 

3.5

 

 

 

1.1

 

 

 

1.4

 

Total lease cost

 

 

 

$

94.4

 

 

$

52.7

 

 

$

52.8

 

Summary of Other Supplemental Information Related to Leases

Other supplemental information related to our leases are as follows:

 

 

 

 

 

Year Ended December 31,

 

 

 

 

 

2022

 

 

2021

 

 

2020

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows for operating leases

 

 

 

$

18.8

 

 

$

14.1

 

 

$

12.3

 

Operating cash flows for finance leases

 

 

 

 

2.7

 

 

 

1.0

 

 

 

1.4

 

Financing cash flows for finance leases

 

 

 

 

19.7

 

 

 

12.5

 

 

 

12.4

 

Summary of Maturities of Lease Liabilities Under Non-cancellable Leases

The following table presents the maturities of our lease liabilities under non-cancellable leases as of December 31, 2022:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

 

 

 

 

 

 

2023

 

$

15.7

 

 

$

42.5

 

2024

 

 

9.9

 

 

 

38.5

 

2025

 

 

5.2

 

 

 

37.1

 

2026

 

 

4.5

 

 

 

35.4

 

2027

 

 

4.0

 

 

 

30.9

 

Thereafter

 

 

7.8

 

 

 

80.9

 

Total undiscounted cash flows

 

 

47.1

 

 

 

265.3

 

Less imputed interest

 

 

(4.1

)

 

 

(38.0

)

Total lease liabilities

 

$

43.0

 

 

$

227.3