LEASES (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2020

Dec. 31, 2019

Leases [Abstract]

Assets and Liabilities, Lessee

The table below presents the lease related assets and liabilities recorded on the Company’s Condensed Consolidated Balance Sheets for the periods presented:

(in millions)	Classification on the Balance Sheet	June 30, 2020		December 31, 2019
Assets
Operating lease assets - third party	Lease right of use assets - third party	$	407.4	$	306.1
Operating lease assets - affiliate	Lease right of use assets - affiliate		611.7		650.3
Finance lease assets	Lease right of use assets - third party		81.3		24.2
Total lease right of use assets		$	1,100.4	$	980.6
Liabilities
Current liabilities:
Operating lease liabilities - third party	Current operating lease liabilities - third party	$	148.5	$	72.0
Operating lease liabilities - affiliate	Current operating lease liabilities - affiliate		82.2		79.2
Finance lease liabilities - third party	Accrued expenses		12.8		6.5
Noncurrent liabilities:
Operating lease liabilities - third party	Long-term operating lease liabilities - third party		257.2		232.9
Operating lease liabilities - affiliate	Long-term operating lease liabilities - affiliate		529.4		571.1
Finance lease liabilities - third party	Long-term financing lease liabilities - third party		70.0		18.4
Total lease liabilities		$	1,100.1	$	980.1

The table below presents the lease related assets and liabilities recorded on the Company’s Consolidated Balance Sheets as of December 31, 2019:

(in millions)	Classification on the Balance Sheet	December 31, 2019
Assets
Operating lease assets - third party	Operating lease right of use assets - third party	$	306.1
Operating lease assets - affiliate	Operating lease right of use assets - affiliate		650.3
Finance lease assets	Deferred charges and other assets, net		24.2
Total lease right of use assets		$	980.6
Liabilities
Current liabilities:
Operating lease liabilities - third party	Current operating lease liabilities - third party	$	72.0
Operating lease liabilities - affiliate	Current operating lease liabilities - affiliate		79.2
Finance lease liabilities - third party	Accrued expenses		6.5
Noncurrent liabilities:
Operating lease liabilities - third party	Long-term operating lease liabilities - third party		232.9
Operating lease liabilities - affiliate	Long-term operating lease liabilities - affiliate		571.1
Finance lease liabilities - third party	Other long-term liabilities		18.4
Total lease liabilities		$	980.1

Lease, Cost

The table below provides certain information related to costs for the Company’s leases for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
Lease Costs (in millions)	2020		2019		2020		2019
Components of total lease costs:
Finance lease cost
Amortization of lease right of use assets	$	3.6	$	0.4	$	6.5	$	0.4
Interest on lease liabilities		1.1		0.2		2.0		0.2
Operating lease cost		74.2		62.9		134.7		116.2
Short-term lease cost		26.6		25.1		48.6		48.4
Variable lease cost		8.2		4.1		18.8		14.2
Total lease costs	$	113.7	$	92.7	$	210.6	$	179.4

The table below presents certain information related to costs for the Company’s leases for the year ended December 31, 2019:

Lease Costs (in millions)	Year Ended December 31, 2019
Components of total lease costs:
Finance lease costs
Amortization of lease right of use assets	$	2.0
Interest on lease liabilities		0.8
Operating lease costs		239.6
Short-term lease costs		89.2
Variable lease costs		31.6
Total lease costs	$	363.2

Supplemental Cash Flow and Other Information

The table below provides supplemental cash flow information related to leases for the periods presented (in millions):

	Six Months Ended June 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	135.2	$	108.4
Operating cash flows for finance leases		2.0		0.2
Financing cash flows for finance leases		5.7		0.2
Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets		224.3		160.1

Lease Term and Discount Rate

The table below presents certain information related to the weighted average remaining lease term and weighted average discount rate for the Company’s leases as of June 30, 2020:

Weighted average remaining lease term - operating leases	7.8 years
Weighted average remaining lease term - finance leases	7.6 years
Weighted average discount rate - operating leases	7.5%
Weighted average discount rate - finance leases	5.3%

The table below presents supplemental cash flow information related to leases for the year ended December 31, 2019 (in millions):

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	241.1
Operating cash flows for finance leases		0.8
Financing cash flows for finance leases		1.4
Supplemental non-cash amounts of lease liabilities arising from obtaining right-of-use assets		340.2

Lease Term and Discount Rate

The table below presents certain information related to the weighted average remaining lease term and weighted average discount rate for the Company’s leases as of December 31, 2019:

Weighted average remaining lease term - operating leases	8.8 years
Weighted average remaining lease term - finance leases	6.1 years
Weighted average discount rate - operating leases	7.95	%
Weighted average discount rate - finance leases	5.98	%

Lessee, Operating Lease, Liability, Maturity

The table below reconciles the fixed component of the undiscounted cash flows for each of the periods presented to the lease liabilities recorded on the Condensed Consolidated Balance Sheets as of June 30, 2020:

Amounts due within twelve months of June 30, (in millions)	Finance Leases		Operating Leases
2020	$	16.8	$	299.0
2021		13.9		210.7
2022		11.1		173.3
2023		11.1		159.4
2024		11.1		142.5
Thereafter		37.0		396.6
Total minimum lease payments		101.0		1,381.5
Less: effect of discounting		18.2		364.2
Present value of future minimum lease payments		82.8		1,017.3
Less: current obligations under leases		12.8		230.7
Long-term lease obligations	$	70.0	$	786.6

The table below reconciles the fixed component of the undiscounted cash flows for each of the periods presented to the lease liabilities recorded on the Consolidated Balance Sheets as of December 31, 2019:

Amounts due in the year ended December 31, (in millions)	Finance Leases		Operating Leases
2020	$	7.8	$	222.4
2021		7.8		188.3
2022		2.0		168.9
2023		2.0		159.2
2024		2.0		159.6
Thereafter		8.8		449.9
Total minimum lease payments		30.4		1,348.3
Less: effect of discounting		5.5		393.1
Present value of future minimum lease payments		24.9		955.2
Less: current obligations under leases		6.5		151.2
Long-term lease obligations	$	18.4	$	804.0