Leases

9 Months Ended

Sep. 30, 2019

We have operating leases primarily for manufacturing facilities, offices, vehicles, and certain equipment. Leases with an initial term of 12 months or less are not recorded on the Company's Condensed Consolidated Balance Sheets with lease expense for these leases recognized on a straight-line basis over the lease term. Our leases have remaining lease terms of 1 year to 15 years, some of which may include options to extend the leases for up to 20 years, and some of which may include options to terminate the leases within 1 year. Operating lease expense for the three and nine months ended September 30, 2019 was $2.8 million and $8.7 million, respectively, while financing and short-term lease expenses were insignificant.

Supplemental condensed consolidated cash flow information is as follows:



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2.8	$	8.6

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	8.0	$	13.7

Supplemental condensed consolidated balance sheet information related to leases at September 30, 2019 are as follows (in millions, except remaining lease term and discount rate):



Operating Leases:
Operating lease right-of-use assets	$	38.7

Other current liabilities	$	8.4
Operating lease liabilities	30.7
Total operating lease liabilities	$	39.1

Weighted-Average Remaining Lease Term (in years):
Operating leases	7.55

Weighted-Average Discount Rate:
Operating leases	5.10%

At September 30, 2019, the maturities of operating lease liabilities are as follows (in millions):



2019 (excluding the nine months ended September 30, 2019)	$	2.8
2020	9.9
2021	7.7
2022	6.0
2023	4.7
Thereafter	17.6
Total lease payments	48.7
Less: Imputed interest	(9.6		)
Total	$	39.1

At December 31, 2018, future minimum lease commitments under non-cancelable operating leases as determined prior to the adoption of ASC 842 were as follows (in millions):



2019	$	8.9
2020	6.2
2021	4.4
2022	3.5
2023	2.5
Thereafter	2.9
Future minimum lease commitments	$	28.4