Leases

12 Months Ended

Dec. 31, 2019

The Company has operating leases primarily for real estate, data centers and equipment. Lease terms range from 1 year to 17 years.

Supplemental Consolidated Balance Sheets information related to the Company's operating leases is as follows:



	Classification on the Consolidated Balance Sheets	December 31, 2019
Assets
	Operating lease right-of-use assets	$	131.8

Liabilities
Current	Accrued expenses and other current liabilities - Other	$	30.1
Long-term	Long-term operating lease liabilities	131.1
Total lease liabilities		$	161.2

Lease term and discount rate		December 31, 2019
Weighted average remaining lease term (years)		9.7
Weighted average discount rate		4.78		%

The components of operating lease expense are as follows:



Financial statement line item	Twelve Months Ended December 31, 2019
Cost of sales	$	62.7
Selling and administrative expenses	30.6
Total lease cost	$	93.3

Maturities of operating lease liabilities are as follows:



	December 31, 2019
2020	$	32.2
2021	27.9
2022	23.0
2023	19.9
2024	17.7
Thereafter	156.6
Total lease payments	$	277.3
Less: Interest	(80.9		)
Less: Lease incentives ⁽¹⁾	(35.2		)
Present value of lease liabilities	$	161.2

(1) Includes lease incentives that will be realized in 2020.

Supplemental cash flow information related to operating leases is as follows:



	Twelve Months Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	88.0
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	110.2

Disclosure related to periods prior to adoption of Topic 842

For the years ended December 31, 2018 and 2017 lease expense was $30 million and $29 million, respectively.

The Company had the following future minimum lease payments under non-cancelable leases as of December 31, 2018:



	December 31, 2018
2019	$	29.7
2020	27.0
2021	22.7
2022	19.5
2023	17.2
Thereafter	148.6
Total future minimum lease payments	$	264.7