Leasing (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

(in millions)	Balance Sheet Location	March 31, 2020		December 31, 2019
Assets
Operating lease assets	Other assets	$	159.1	$	157.3
Finance lease assets	Property, plant and equipment, net	80.5		69.5
Total lease assets		$	239.6	$	226.8
Liabilities
Current liabilities:
Current portion of operating lease liabilities	Other accrued expenses	$	45.3	$	47.4
Current portion of finance lease liabilities	Current portion of long-term debt	22.9		20.9
Noncurrent liabilities:
Operating lease liabilities	Other long-term liabilities	121.6		114.5
Finance lease liabilities	Long-term debt	59.5		50.3
Total lease liabilities		$	249.3	$	233.1

Lease term and discount rate

Lease cost

(in millions)	Three months ended March 31, 2020						Three months ended March 31, 2019
Statement of Operations Classification	Operating Leases		Finance Leases		Total		Operating Leases		Finance Leases		Total
Cost of goods sold (exclusive of depreciation)	$	4.3	$	—	$	4.3	$	3.7	$	—	$	3.7
Outbound freight and handling	1.3		—		1.3		1.8		—		1.8
Warehousing, selling and administrative	8.1		—		8.1		7.4		—		7.4
Depreciation	—		6.2		6.2		—		4.6		4.6
Interest expense	—		0.7		0.7		—		0.6		0.6
Total gross lease component cost	$	13.7	$	6.9	$	20.6	$	12.9	$	5.2	$	18.1
Variable lease costs					0.2						0.2
Short-term lease costs					7.5						2.6
Total gross lease costs					$	28.3					$	20.9
Sublease income					0.6						1.0
Total net lease cost					$	27.7					$	19.9

Lease term and discount rate

	March 31, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating leases	5.5		5.0
Finance leases	4.6		4.0
Weighted-average discount rate
Operating leases	4.80	%	4.95	%
Finance leases	4.06	%	4.33	%

Other information

	Three months ended March 31,
(in millions)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	13.4	$	13.5
Operating cash flows from finance leases	0.9		0.5
Financing cash flows from finance leases	6.1		4.7

Finance lease maturity schedule

Maturity of lease liabilities

(in millions)	Operating Leases		Finance Leases		Total
2020	$	37.4	$	19.7	$	57.1
2021	41.7		22.3		64.0
2022	33.5		18.7		52.2
2023	23.1		9.5		32.6
2024	14.6		6.8		21.4
2025 and After	38.0		11.2		49.2
Total lease payments	$	188.3	$	88.2	$	276.5
Less: interest	21.4		8.6
Present value of lease liabilities, excluding guaranteed residual values	$	166.9	$	79.6
Plus: present value of guaranteed residual values	—		2.8
Present value of lease liabilities	$	166.9	$	82.4