Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Schedule of New Accounting Pronouncements

Recent Accounting Pronouncements

Accounting Standard	Description	Effective Date	Effect on Consolidated Financial Statements or Other Significant Matters
Financial Instruments—Credit Losses (Topic 326) In June 2016, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, "Measurement of Credit Losses on Financial Instruments" ("Topic 326")	Topic 326 replaces the current “incurred loss” model for recognizing credit losses with an “expected loss” model referred to as the Current Expected Credit Loss ("CECL") model. Under the CECL model, an entity is required to present certain financial assets carried at amortized cost, such as trade receivables, at the net amount expected to be collected. The measurement of expected credit losses is to be based on information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. This measurement takes place at the time the financial asset is first added to the balance sheet and periodically thereafter. This differs significantly from the “incurred loss” model required under U.S. GAAP, which delays recognition until it is probable a loss has been incurred.	The Company adopted these amendments on January 1, 2020.	Refer to the accompanying condensed consolidated statements of changes in stockholders' equity for the adjustment of the opening retained earnings and Note 4. Fair Value Measurements for further discussions.
Reference Rate Reform (Topic 848) In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ("ASU No. 2020-04").	The amendment in this update provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendment in this update applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendment does not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship.	The amendment in this update is effective for all entities as of March 12, 2020 through December 31, 2022.	The Company adopted this amendment on March 12, 2020. There was no impact to the condensed consolidated financial statements as of and for the three months ended March 31, 2020. The Company continues to monitor the transition of LIBOR to alternative reference rate measures that will likely become effective post December 2021.

Lease, Cost and Other Information

The following table presents lease cost, cash paid for amounts included in the measurement of lease liabilities, ROU assets obtained, weighted-average remaining lease terms, and weighted-average discount rates for finance and operating leases for the three months ended March 31, 2020 and 2019, respectively.

	Three Months Ended March 31,
	2020			2019
Lease cost:
Operating lease cost (1)	$	12.4		$	12.1
Finance lease cost
Depreciation of finance lease assets (2)		1.6			2.8
Interest on finance lease liabilities (3)		0.2			0.4
Total lease cost	$	14.2		$	15.3
Other information:
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases	$	(13.6	)	$	(12.5	)
Operating cash outflows from finance leases	$	(0.2	)	$	(0.4	)
Financing cash outflows from finance leases	$	(1.9	)	$	(2.1	)
Weighted-average remaining lease term - operating leases		9.3 years			9.7 years
Weighted-average remaining lease term - finance leases		2.2 years			2.8 years
Weighted-average discount rate - operating leases		4.0	%		3.9	%
Weighted-average discount rate - finance leases		3.7	%		4.4	%

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⁽¹⁾ Included in "Cost of revenues" and "Selling, general and administrative" expenses in the accompanying condensed consolidated statements of operations

⁽²⁾ Included in "Depreciation and amortization of fixed assets" in the accompanying condensed consolidated statements of operations

⁽³⁾ Included in "Interest expense" in the accompanying condensed consolidated statements of operations

Finance Lease, Liability, Maturity

Maturities of lease liabilities for the remainder of 2020 and the years through 2026 and thereafter are as follows:

	March 31, 2020
Years Ending	Operating Leases			Finance Leases
2020	$	36.2		$	4.4
2021		39.1			3.0
2022		35.3			0.7
2023		30.5			0.1
2024		21.2			—
2025		18.8			—
2026 and thereafter		109.7			—
Total lease payments		290.8			8.2
Less: Amount representing interest		(53.5	)		(0.4	)
Present value of total lease payments	$	237.3		$	7.8

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities for the remainder of 2020 and the years through 2026 and thereafter are as follows:

	March 31, 2020
Years Ending	Operating Leases			Finance Leases
2020	$	36.2		$	4.4
2021		39.1			3.0
2022		35.3			0.7
2023		30.5			0.1
2024		21.2			—
2025		18.8			—
2026 and thereafter		109.7			—
Total lease payments		290.8			8.2
Less: Amount representing interest		(53.5	)		(0.4	)
Present value of total lease payments	$	237.3		$	7.8