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Leases (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Leases [Abstract]    
Summary of Operating Lease Expense, Cash Flow Information, And Weighted Average Remaining Lease Terms and Discount Rates

Operating lease expense is as follows:

 

 

 

 

Nine months ended

September 30, 2020

 

 

Nine months ended

September 30, 2019

 

Operating lease cost

 

 

 

$

38.3

 

 

 

 

$

37.5

 

 

Short-term and variable lease cost

 

 

 

 

19.5

 

 

 

 

 

21.8

 

 

Total lease cost

 

 

 

$

57.8

 

 

 

 

$

59.3

 

 

 

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

 

 

 

 

Nine months ended

 

September 30, 2020

 

 

Nine months ended

 

September 30, 2019

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash outflows – Payments on operating leases

 

 

 

$

38.3

 

 

 

 

$

37.5

 

 

Right-of-use assets obtained in exchange for new lease obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

 

 

$

42.0

 

 

 

 

$

142.8

 

 

 

 

 

 

 

 

 

Year ended 

 

    

December 31, 2019

 

 

 

 

Operating lease cost

 

$

49.7

Short-term and variable lease cost

 

 

31.6

Total lease cost

 

$

81.3

 

Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to operating leases is as follows:

 

 

 

 

Financial statement line item

 

 

September 30, 2020

 

 

December 31, 2019

 

Operating lease right-of-use assets

 

 

Other assets

 

 

 

$

127.4

 

 

 

 

$

110.4

 

 

Operating lease liabilities

 

 

Accrued expenses and other liabilities

 

 

 

 

38.2

 

 

 

 

 

35.0

 

 

Operating lease liabilities

 

 

Other long-term liabilities

 

 

 

 

93.1

 

 

 

 

 

78.2

 

 

Total lease liabilities

 

 

 

 

 

 

$

131.3

 

 

 

 

$

113.2

 

 

 

Weighted average remaining lease terms and discount rates for operating leases are as follows:

 

 

 

 

September 30, 2020

 

 

December 31, 2019

 

Weighted Average Remaining Lease Term

 

 

4.3 years

 

 

4.5 years

 

Weighted Average Discount Rate

 

 

6.4%

 

 

7.3%

 

 

 
Summary of Maturities of Lease Liabilities

Maturities of lease liabilities are as follows:

 


As of September 30, 2020
As of December 31, 2019
Operating Leases
2020
$ 12.9 $ 43.3
2021
43.4 31.6
2022
35.1 24.1
2023
27.6 18.0
2024
16.9 10.6
Thereafter
18.6 14.2
Total Lease Payments
154.5 141.8
Less: Imputed Interest
(23.2) (28.6)
Present value of lease liabilities
$ 131.3 $ 113.2
 

 

 

 

 

 

    

December 31, 2019

 

 

Operating Leases

2020

 

$

43.3

2021

 

 

31.6

2022

 

 

24.1

2023

 

 

18.0

2024

 

 

10.6

Thereafter

 

 

14.2

Total Lease Payments

 

 

141.8

Less: Imputed Interest

 

 

(28.6)

Present value of lease liabilities

 

$

113.2

 


 

 

 

 

2019

    

$

51.4

2020

 

 

37.2

2021

 

 

25.4

2022

 

 

17.9

2023

 

 

12.4

Thereafter

 

 

19.2

Total noncancelable long-term leases

 

$

163.5